Pressure on Cement Business in Indonesia Has Not Eased

LISTED COMPANY - JAKARTA. The performance of cement issuers remains sluggish. Throughout the first half of this year, the revenue and net profit of issuers in this sector are still declining, with some even suffering losses.

PT Semen Indonesia Tbk (SMGR) recorded a revenue of IDR 16.41 trillion in the first half of 2024, down 3.64% year on year (yoy). SMGR's net profit plummeted 42.11% yoy to IDR 501.48 billion. SMGR's domestic cement sales in the first half of 2024 decreased by 1.5% yoy to 14.01 million tons. The domestic market share shrank by 1.9 points to 50%.