Semen Indonesia Booked 2019 Net Profit Of IDR 2,392 Trillion

President Director of SIG, Hendi Prio Santoso at the introduction of the new logo "SIG" in Jakarta some time ago. (Photo: Semen Indonesia)

JAKARTA - PT Semen Indonesia (Persero) Tbk (SIG) recorded a net profit attributable to the owners of the parent company of IDR 2.392 trillion in 2019. The company's revenue was recorded at IDR 40.368 trillion, up 31.5 percent compared to 2018 of IDR 30,688. trillion.

The cost of revenue was recorded at IDR 27,654 trillion, up 29.5 percent compared to the same period in 2018 of IDR 21,357 trillion. Meanwhile, EBITDA was recorded at Rp.8.7 trillion, up 32.3 percent compared to 2018 amounting to Rp.6.6 trillion.

President Director of SIG, Hendi Prio Santoso, said that the company was able to maintain its performance by recording an EBITDA margin of 21.5 percent, or an increase of 0.1 percent from the previous year.

"This EBITDA Margin growth comes from various strategic initiatives carried out by the company, starting from the integration of the Indonesian Build Solution (SBI), optimization of strategic functions in the fields of marketing, supply chain, procurement, and various cost transformation steps of the company," explained Hendi Prio Santoso in a statement. received by VOI, Tuesday 17 March.

Indeed, the company's profit in 2019 decreased by 23.2 percent compared to the same period in 2018. However, the decrease in net profit, according to the company, was due to an increase in financial expenses in the SBI acquisition process.

The company has taken various steps to improve financial burden efficiency, including making payments or repayment of loans amounting to Rp1.4 trillion during 2019.

In addition, the company has also refinanced its loans in 2019 to obtain a more competitive interest rate. The company's move is expected to reduce the company's financial burden.

GIS Sales Performance in 2019

Throughout 2019, SIG on a consolidated basis recorded a total domestic and export sales volume of 42.6 million tons, including sales from Vietnam's Thang Long Cement (TLCC). The sales volume increased by 28.5 percent compared to the same period in 2018 of 33.2 tons.

Meanwhile, the domestic sales of GIS in 2019, in Indonesia, increased 32.5 percent to 36.3 million tons even though demand in the domestic cement market only grew 0.3 percent. Meanwhile, regional sales, namely sales from Vietnam and exports, increased 9.1 percent from the previous year to 6.3 million tons.