Overview Financial Result For Q2 2023:
- Domestic cement market in H1 2023 weakened -4.9% YoY from combination of pressure in bag market -7.9% and growth in bulk market +4.1%
- Indocement recorded domestic cement (all products) sales volume at 8,061k ton or +7.2% YoY, the growth was mainly contributed from our newly Maros operation. Export was at 299k ton or +81.4% YoY mostly from clinker shipments to Bangladesh and Brunei
- Overall market share increased from 24.7% to 27.4%, substantial gain of outside Java market share from 14.5% to 20.6% while relatively stable for overall Java at 33.9%
- Net Revenues grew +15.3% YoY to IDR 7,970 bio from higher volume and price
- Increase in Cost of Revenues of +7.7% YoY was in line with higher sales volume, mainly contributed from increase in raw material and manufacturing overhead costs, with partial offset from lower energy cost (DMO coal)
- Margin improvement both in Gross Profit from 25.6% to 30.5% and EBITDA from 13.3% to 18.7%
Indocement's Consolidated Financial Statements as of June 30, 2023 can be downloaded here!
For another Indocement Financial Reports can be seen at this link!
