Overview Indocement Financial Result For H1 2024
- Indocement domestic cement market share was at 29.4% with Java 37.7% and outside Java 20.5%.
- From ASI data, domestic cement market grew +2.2% in H1 2024 from contraction in bag market -1.9% and growth in bulk market +13.2%.
- Bulk composition from overall domestic volume reaches 30.2% vs. 27.3% H1 last year. The new capital city construction remains to be the main growth driver for bulk demand.
- Indocement recorded domestic sales volume (cement and clinker) at 8,869 ton or higher by +10.0% than H1 last year, mainly contributed from Semen Grobogan. Overall export was 163k ton or declined -45.6%.
- Dividends of IDR 90/share distributed in June 2024, a payout ratio of 15.8%.
- Starting to increase bag price about 1%–2% in June as first step for now, although it was only enough to cover higher input costs from rising USD exchange rate.
- Net Revenues was at IDR8,124.7 bio or 1.9% higher from increase of Semen Grobogan location sales.
- Cost of Revenues increased +5.2% to IDR5,826.4 bio from higher raw material and energy costs.
- Margin for EBITDA was at 16.4% or IDR1,332.5 bio and Profit for the Period at 5.4% or IDR434.7 bio.
- Current share buyback program up to IDR895 billion (including fees, etc.) will end on 31 December 2024.
For another Indocement Financial Reports can be seen at this link!
