Summary of Indocement’s Financial Performance for Q1 2023:
- Overall cement market in Q1 2023 weakened -6.5% YoY driven by continuing pressure of
bag market -9.3% while bulk market grew +2.1%. - Indocement recorded domestic cement sales volume at 4,303 thousand ton or +6.6% YoY
after consolidating sales volume from Maros Plant, South Sulawesi, which was leased from
PT Semen Bosowa Maros for three years starting September 2022. - Substantial gain of outside Java market share from 14.8% to 21.2%.
- Net Revenues grew +19.3% YoY to IDR 4,245.7 billion from both higher volume and price.
- Margin recovery in Gross Profit from 27.0% to 30.1% and EBITDA from 13.8% to 18.2%.
The full press release can be downloaded in the attachment section.
