Indocement delivered stronger performance during the first nine months of 2026, with total cement and clinker sales reaching 15.75 million tons as of the end of September. The figure represented a 9.0% increase from the corresponding period of the previous year.
The increase was supported by growth in both domestic sales and exports. Indocement’s domestic sales volume reached 15.09 million tons, up 7.6% year on year, while export volume surged 55.9% to 660 thousand tons.
The performance came as Indonesia’s domestic cement demand remained robust. Demand increased 7.9% year on year through September 2026, with growth recorded in both the bulk and bag cement segments. Dry weather also helped accelerate construction activity across the country.
National bulk cement demand grew 9.3%, while bag cement demand increased 7.4%. Indocement’s sales volume rose 7.8%, supported by a 12.6% increase in bulk cement and 5.9% growth in bag cement. The Company held a 29.3% share of the domestic market.
Revenue and Profit Strengthen
The higher sales volume supported Indocement’s financial performance. Net Revenues increased 8.9% to IDR14.07 trillion, compared with IDR12.92 trillion in the corresponding period of the previous year.
Gross Profit rose 11.4% to IDR4.51 trillion. The gross profit margin also improved to 32.0%, from 31.3% in the corresponding period a year earlier.
Operating Income increased 18.5% to IDR1.56 trillion. EBITDA grew 14.6% to IDR2.82 trillion, while the EBITDA margin improved to 20.1% from 19.1%.
The Company also recorded Net Finance Income of IDR20.4 billion, mainly reflecting a lower interest rate on PT Semen Grobogan’s debt. Its Share of Net Profit of Associates–Net increased 109.6% to IDR49.8 billion, supported by higher earnings from associate companies.
Overall, Indocement’s Profit for the Period reached IDR1.30 trillion through September 2026. The result was 22.5% higher than the IDR1.06 trillion reported in the corresponding period of the previous year.
Maintaining a Strong Balance Sheet
Alongside higher sales and profit, Indocement maintained a solid financial position. The Company recorded Cash and Cash Equivalents of IDR4.7 trillion as of 30 September 2026.
However, Indonesia’s cement industry continues to face margin pressure from elevated energy costs and foreign exchange rates. Global energy volatility and limited visibility on cost recovery have made operational efficiency and the increased adoption of alternative fuels important measures for cement producers. Further selling-price adjustments may also be required to address the ongoing pressure.
Weather conditions will be another factor to monitor. The upcoming rainy season could moderate construction activity and affect cement demand in the months ahead.
