20 Percent Profit Of Semen Baturaja Will Be Dividend In 2023, The Rest Will Be Detained

PT Semen Baturaja Tbk (SMBR) will distribute cash dividends of IDR 24.31 billion or with a payout ratio of 20 percent for the 2023 financial year.

This subsidiary of PT Semen Indonesia (Persero) Tbk (SIG) said that the remaining 80 percent or equivalent to Rp97.26 billion of net profit in 2023 was designated as retained earnings.

Quoting Antara, it was stated that this year's dividend distribution increased compared to the previous year's IDR 18.96 billion. This shows the company's commitment to continue providing added value to shareholders.

Semen Baturaja posted a net profit of IDR 121.57 billion in 2023. This achievement increased 57 percent compared to the 2022 period which amounted to IDR 77.3 billion.

SMBR President Director Suherman Yahya said the company closed 2023 with various good achievements in terms of financial, production, and sustainability performance.

The total sales volume of cement was recorded to have grown by 7.56 percent to 2.16 million tons above demand growth in the southern part of Sumatra (Sumbagsel), which is the company's main market, which grew by 1.8 percent.

Throughout 2023, the company recorded revenues of IDR 2.04 trillion, an increase of 8 percent compared to last year's period.

In terms of EBITDA, it was recorded that it reached IDR 484.87 billion, an increase of 13 percent compared to 2022 which amounted to IDR 430.45 billion.

According to Suherman, the achievement in 2023 is inseparable from the success of the company's strategic initiative through the SMBRGO45 efficiency program which has started from 2020 to 2023.

The program is a superior company program to optimize costs in various sectors and implement the best practices in operations so that they can achieve positive performance.

"Not only that, the company continues to synergize and coordinate with Holding GIS as the manager of strategy and operational implementation of marketing and sales activities," said Suherman.

Supporting the decarbonization program, the company said that it succeeded in reducing the intensity of carbon emissions (coverage 1) from 587 kg of CO2/ton cem eq in 2022 to 577 kg of CO2/ton cem eq in 2023.

Semen Baturaja also increased the thermal substitution rate (TSR) from 2.62 percent to 3.01 percent through an increase in alternative fuel and raw materials (AFR) and a decrease in the klinker factor using alternative materials sourced from industrial waste.

In terms of sustainable development goals (TPB), the company also implements social and environmental responsibility programs (TJSL).

Throughout 2023, it was recorded that Rp3.9 billion of TJSL program funds were distributed by the company or an increase compared to 2022 of Rp2.65 billion.

In addition, the company also has 634 micro and small business fostered partners (UMK) that have an impact on employment in the environment around fostered partners.