PALEMBANG - PT Semen Baturaja (Persero) Tbk accelerated the payment of Investment Credit after recording positive performance in financial management in September 2022.
President Director of Semen Baturaja Daconi said, thanks to the positive cash flow conditions in the third quarter of 2022, Semen Baturaja was able to speed up some KI loans of IDR 127 billion to reduce interest expense.
"We took this decision after seeing the potential for an increase in interest rates in the future," he said, quoted by Antara, Wednesday, November 2.
He said that currently, Semen Baturaja continues to run an efficiency program to maintain company productivity and increase competitiveness.
Management also implements sustainability programs such as utilizing waste as alternative fuels, reducing carbon energy consumption and biodiversity conservation programs in mining areas.
So far, Semen Baturaja's revenue has grown 9 percent when demand for cement in South Sumatra decreased.
The national cement industry still faces various challenges this year, such as oversupply conditions for national cement and rising fuel rates.
This condition spurs the company to be more competitive in order to grow better by the end of 2022.
The demand for cement until September 2022 in the Sumatra region has decreased by 3.1 percent.
More specifically for the Semen Baturaja market, demand for cement in the South Sumatra region experienced a deeper decline, reaching 4.8 percent.
When the national demand for cement declined, Semen Baturaja was able to record an increase in sales volume by 3 percent which was followed by a 9 percent growth in revenue.
"This growth is a turning point in the spirit of management with all employees at a time of decreasing the pandemic that this year's target can be achieved," said Daconi.
Peningkatan penjualan tentunya memberikan dampak positif bagi laba bersih perusahaan yang melonjak naik 260 persen dari tahun lalu yang senilai Rp16,7 miliar menjadi Rp43,1 miliar untuk periode sampai dengan September 2022.
In line with sales performance growth, net cash flow from operations was able to record a 3 percent increase in last year's period until September 2022 or IDR 283.1 billion.
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