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Semen Indonesia records above average growth in first nine months

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World Cement,

Semen Indonesia has reported a 27.2% increase in revenues for the first nine months of the year as sales volumes increased by 15.6% to 18.5 million t. Indonesia’s largest cement manufacturer sold 2.41 million t of cement in September alone, a 12.8% increase from September 2012. The group is targeting sales of around 25 million t this year.

In spite of a 31.5% rise in costs of revenues and a 31.3% increase in selling expenses, net profits rose by 15.2% in the nine-month period, a slower rate of growth than last year’s 22.8%. These results are in line with analysts’ forecasts, which expect net profits of more than Rp 5 trillion by the end of the year.

According to figures from the Indonesian Cement Association, Semen Indonesia’s growth rate was ahead of the average considering that total cement demand in the country grew by 5.3% in the nine-month period. Semen Indonesia, which is made up of four group companies, has a market share of almost 44%.

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