Semen Indonesia Revenue Increases 31% From January to September 2019
Jakarta, 31 October 2019 – PT Semen Indonesia (Persero) Tbk (“the Company”) announced the Company’s Financial Performance for the period January to September 2019 (“9M19”) with the following summary:
Consolidated Financial Performance (9M19):
• During the period of January to September 2019, the Company recorded a 31% increase in revenue to Rp 28.12 trillion compared to the same period last year of 21.45 trillion. EBITDA also increased 26% to Rp 5.9 trillion compared to the same period last year.
The increase in the Company’s revenue and EBITDA apart from the results of the consolidated performance of PT Solusi Bangun Indonesia Tbk. (“SBI”) into the Semen Indonesia group since February 2019, is also the result of various synergy efforts undertaken between companies within the Semen Indonesia Group such as marketing, structuring an integrated distribution network, synergizing the procurement process, and continuing to carry out cost transformation programs in various field.
• The Company’s net profit for the period of 9 months 2019 amounting to Rp 1.3 trillion or decreased 38% from the same period last year mainly due to an increase in interest expense.
• In line with the Company’s vision to become a leading provider of building materials solutions in the Region, the Company will continue to prioritize synergies in various functions among group members to continue to improve profitability by prioritizing cost efficiency through various cost transformation initiatives, as well as business development of value-added building materials. .
Semen Indonesia Sales Performance (9M19):
The growth of the Company’s domestic sales volume outside SBI until September 2019 was -4.9% compared to 2018, this is in line with the demand for cement in Indonesia until September 2019 which still experienced a weakening of -2% compared to the same period in 2018.
The Company seeks to increase sales volume and manage optimal utilization rates by boosting export sales. Until September 2019, the Company’s export volume from Indonesia increased 7% to 2.9 million tons.
About the Company:
The company was founded in 1957 in Gresik, East Java, under the name NV Semen Gresik. In 1991, PT Semen Gresik went public and was the first State-Owned Enterprise to register its shares on the Indonesia Stock Exchange. In its development, on January 7, 2013, PT Semen Gresik (Persero) Tbk was transformed into PT Semen Indonesia (Persero) Tbk, and served as a strategic holding company that oversees PT Semen Gresik, PT Semen Padang, PT Semen Tonasa, and Thang Long Cement Company.
On January 31, 2019, PT Semen Indonesia (Persero) Tbk through its subsidiary PT Semen Indonesia Industri Bangunan (SIIB) has officially acquired the ownership of Holderfin B.V. posted at PT Holcim Indonesia Tbk. Through the mechanism of the Extraordinary General Meeting of Shareholders (RUPS LB) on 11 February 2019, PT Holcim Indonesia Tbk has changed its name to PT Solusi Bangun Indonesia Tbk.