Q1 2024, Indocement's Domestic Cement Sales Reach 4.5 Million Tons of Cement
Overview for Q1 2024:
- From ASI data, domestic cement market was stagnant in Q1 2024 from contraction in bag market -5.4% and growth in bulk market +14.9%. The new capital city construction remains to be the main growth driver for bulk demand.
- Indocement recorded domestic sales volume (cement and clinker) at 4,479k ton or higher +4.1% than Q1 last year, mainly contributed from Semen Grobogan operation. But sales volume growth like-for-like without Semen Grobogan is -1.4% slightly lower than market.
- Overall export was 70k ton or declined -55.2%, the clinker export for Q1 2024 was mainly to Australia & Malaysia while Q1 last year there were shipments to Bangladesh and Brunei.
- Net Revenues was at IDR 4,082.6 bio or declined -3.8% due to lower consolidated price from increase in sales composition of bulk products (30.6% in Q1 2024 vs. Q1 2023 of 25.4%) and fighting brands.
- Margin for EBITDA was at 16.8% or IDR 685.2 bio and Profit for the Period at 5.8% or IDR 238.0 bio.
