Holcim Indonesia 3Q13 results are low compared to Semen Indonesia’s

Two of Indonesia’s major cement companies, Semen Indonesia and Holcim Indonesia, have reported very different figures for the first nine months. Semen Indonesia, whose results were posted yesterday on the World Cementwebsite, is Indonesia’s largest cement manufacturer and has experienced a rise in sales, net income and revenue due to strong demand for building materials.

Holcim reported a 34% decline in profit due to an increase in expenses. These expenses were due to a rise in the cost of raw materials, transportation and fuel.

Additionally, nine-month net income decreased to Rp599.14 billion y/y compared to Rp911.2 billion in 2012. Despite this, revenue rose by 5.5% to Rp6.87 trillion and the cost of goods sold rose 8.7% to Rp4.6 trillion.

Demand for cement in the country is set to rise as the government plans new building projects and aims to boost infrastructure through the construction of new airports, seaports and roads.

Read the 3Q13 results for Semen Indonesia here.

Edited from various sources by Rosalie Starling

Read the article online at: https://www.worldcement.com/asia-pacific-rim/31102013/holcim_indonesia_3q13_results_are_low_compared_to_semens_367/