64th Anniversary, Semen Indonesia Gets Rp794 Billion 'Sweet Gift', What Is It?

Vehicles are seen parked at Semen Indonesia's production facility (Photo: Doc. Semen Indonesia)

JAKARTA - The State-Owned Enterprise (BUMN) PT Semen Indonesia Tbk. it is mentioned that it is in its 64th birthday which falls today, Saturday, August 7, 2021. The largest cement producer in the country was previously named PT Semen Gresik which later changed its name on December 20, 2012 ago.

In fact, PT Semen Indonesia is a holding company that covers subsidiaries in the production of cement, non-cement, and other services owned by the government.

Earlier this week, the SMGR stock coded business entity just released its consolidated business performance throughout the first semester of 2021.

In its report, Semen Indonesia stated that the company managed to earn a net profit of Rp794.12 billion in the first half. This figure shot up 29.7 percent compared to the same period the previous year, which was Rp612.46 billion.

The moncer results were supported by sales, especially the export market, which rose 35.5 percent year-on-year (yoy). This book then helped to increase the total sales volume by 5.7 percent yoy.

Meanwhile, during the first half of 2021, SMGR managed to record a total revenue of Rp. 16.21 trillion, an increase of 1.2 percent compared to the first half of 2020 which was Rp. 16.03 trillion.

"The increase in regional sales is the company's effort to ensure the utilization of production facilities is maintained amidst the current COVID-19 pandemic," said President Director of Semen Indonesia Hendi Prio Santoso as quoted by the official website.

“In general, the increase in profit was contributed by an increase in revenue, an increase in sales volume and sustainable debt management. Sustainable debt management carried out by the company was able to result in a 27.7 percent reduction in financial costs," continued Hendi.

Presumably, the achievement scored by the state-owned construction material sector with a net profit of Rp794 billion is a sweet gift for the company on its 64th anniversary. Happy birthday Semen Indonesia.