Semen Baturaja Earns IDR 53.96 Billion Net Profit In The First Quarter Of 2023

JAKARTA - PT Semen Baturaja (Tbk) posted net profit growth in the third quarter of 2023 worth IDR 53.96 billion or 25 percent higher than the same period last year.

"The increasing net waste is supported by a decrease in interest expense as a result of refinancing bank debt and accelerating the payment of principal syndicated credit loans," said Semen Baturaja President Director Daconi Khotob in a Public Expose in 2023 which was broadcast online, in Palembang, South Sumatra, quoted from Antara, Wednesday, October 25.

According to him, this significant growth was also driven by the company's success in growing sales of cement products and White Clay.

The company noted that as of September 2023 cement sales reached IDR 1.42 trillion, and White Clay sales amounted to IDR 27.62 billion.

He said, the sales of the two superior products for PT Semen Indonesia (Persero) subsidiaries increased by 10 percent (semen) and 13 percent (White Clay) respectively compared to the same period the previous year.

"This condition is good in the midst of the national cement industry which is still experiencing contraction, due to the current global and climate uncertainty," he said.

He ensured that all company activities were carried out in accordance with the principles of sustainable development, namely through operational efficiency programs and emission reduction.

This includes implementing Total Productive Maintenance (TPM), holding a SMBR Innovation Award competition, and Refreshing K3 Mining.

PT Semen Baturaja managed to suppress the carbon emission intensity (coverage 1) down to 0.572 tons of CO2 equivalent realization 2022 (0.588 Tons of CO2 equivalence) and an increase in the thermal substitution rate of 3.57 percent.

Daconi also mentioned the implementation of the Social and Environmental Responsibility (TJSL) program. In this case, the company has realized the distribution of TJSL Program Funds reaching Rp2.68 billion until September 2023. Or an increase of 61 percent from the same period in the previous year.

Several TJSL programs that have been realized include training through Baturaja BUMN Houses, MSME Exhibitions in Jakarta and Palembang as well as distribution of aid to the community and government.