Overview financial result of Indocement YTD Q3 2023:
- The domestic bulk cement market grew by +8.3%, but bagged cement market had a
negative growth of -3.7%. Therefore, the overall growth of domestic cement consumption
weakened by -0.6% - Indocement recorded domestic sales volume (cement and clinker) at 13,294k ton or +7.1%, the growth was mainly contributed from Maros operation. Export grew to 445k ton or +61.7% mostly from clinker shipments to Bangladesh and Brunei Darussalam with further expansion to Australia and Philippines
- Our overall domestic market share was at 27.6% with Java 34.1% and outside Java 20.8%
- Net Revenues grew +10.9% to IDR 12,927.7bio from higher volume +8.3% and consolidated
price +2.4% - Increase in Cost of Revenues +7.6% lined up with higher sales volume with some offset from lower energy cost (DMO coal)
- Margin recovery in Gross Profit from 29.5% to 31.6% and EBITDA from 17.5% to 19.6%
- Indocement signed a Conditional Purchase Agreement to acquire 100% shares of PT Semen Grobogan with closing expected by 30 November 2023 and effective takeover on 1 December 2023
The full version of press release can be downloaded in the attachment section.
