Semen Indonesia Earns IDR 498 Billion Net Profit In The First Quarter Of 2022

One of the employees of PT Semen Indonesia (Persero) Tbk, when checking the products that are ready to be marketed. (Doc. Semen Indonesia)

JAKARTA - PT Semen Indonesia (Persero) Tbk (SIG) in the first quarter of 2022 recorded a profit attributable to owners of the parent entity of Rp.498.56 billion, an increase of 10.7 percent compared to the same period last year.

SIG's Corporate Secretary, Vita Mahreyni, detailed that the company's revenue was recorded at IDR 8.14 trillion. This income increased by 0.7 percent compared to the previous year of Rp8.08 trillion.

Then, the cost of revenue was recorded at Rp5.88 trillion. The expense increased by 3.2 percent compared to the previous year of Rp. 5.70 trillion

"Meanwhile, the profit for the year attributable to owners of the parent entity was recorded at Rp.498.56 billion, an increase of 10.7 percent compared to 2021 at Rp.450.36 billion," he said in a statement to the media, Monday, May 30.

He added, in the first quarter of 2022, SIG recorded a better performance with an increase in revenue of 0.7 percent to IDR 8.14 trillion compared to the same period last year.

The increase in revenue was supported by growth in domestic sales volume which rose by 1.6 percent to 7.4 million tons in line with positive growth in national demand and GIS' main focus on the domestic market.

Meanwhile, the cost of revenue increased to Rp5.88 trillion in the first quarter of 2022, up 3.2 percent compared to the previous year.

This increase was largely due to the increase in coal market prices throughout the first quarter of 2022.

"However, the Company is still able to maintain the increase in fuel and energy costs while reducing other cost components. Despite the 28 percent increase in fuel and energy costs, raw material costs were recorded to be 28.5 percent lower year on year (yoy) in line with sales volume. and a decrease in the average slag factor in the first quarter of 2022," Vita concluded.

In addition, there was a decrease in operating expenses and financial expenses which contributed to the increase in net profit for the first quarter of 2022.