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Jakarta, August 5, 2024 Siber24jam.com – PT Indocement Tunggal Prakarsa Tbk. (Indocement) has reported a significant achievement in its first-half 2024 financial results, capturing the highest domestic cement market share at 29.4%. This market share is split into 37.7% in Java and 20.5% outside Java.
According to data from the Indonesian Cement Association (ASI), the domestic cement market grew by +2.2% during this period, driven by a notable increase in bulk cement sales, which rose by +13.2%. Bulk cement sales now account for 30.2% of the total domestic cement volume, aligned with the new capital city development projects.
Indocement reported a domestic sales volume of 8,869 thousand tons, marking a 10.0% increase from the previous year, largely due to contributions from Semen Grobogan. However, export volumes saw a significant decline of 45.6%, dropping to 163 thousand tons. The company’s net revenue increased by 1.9% to IDR 8,124.7 billion, driven by higher sales. The Cost of Goods Sold rose by 5.2% to IDR 5,826.4 billion, impacting the Gross Profit Margin, which stood at 28.3%. The EBITDA margin reached 16.4%, with a Net Profit for the Period of IDR 434.7 billion.
As part of its corporate strategy, Indocement has announced a share buyback program with a budget of up to IDR 895 billion, set to run until December 31, 2024. A dividend of IDR 90 per share was also distributed in June 2024, with a payout ratio of 15.8%.
On August 4, 2024, Indocement celebrated its 49th anniversary under the theme “Growing for a Stronger, Greener Future.” The celebration included various social and educational activities, such as book collections for schools, a football tournament, waste donation, and educational assistance. The One Book One Employee program and voluntary teaching sessions were held at the Citeureup Plant Complex, while employees in Cirebon and Tarjun were also active in social and educational initiatives.
Christian Kartawijaya, President Director of Indocement, stated, “We extend our gratitude to all Indocement employees for their dedication and hard work. We will continue to uphold our spirit of diligence and synergy to address challenges and seize opportunities effectively.”
Indocement is one of Indonesia’s largest cement producers with an annual production capacity of 33.5 million tons. The company operates 14 of its own plants, two factories, and one grinding mill on a rental basis. Indocement’s flagship products include Semen Tiga Roda, Semen Rajawali, Mortar Tiga Roda, and Semen Grobogan. Since 2001, Heidelberg Materials AG has been the majority shareholder of Indocement.
Editor: Zakar