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ISSUER NEWS - JAKARTA. PT Semen Indonesia Tbk (SIG) recorded a 10% increase in sales volume to 40.62 million tons compared to the previous period. The increase mainly came from the bulk sales and export segments.
As a result of this growth, the revenue of the issuer with the stock code SMGR increased to IDR 38.65 trillion, up 6.2% annually. The cost of revenue was recorded at IDR 28.47 trillion, while earnings before interest, taxes, depreciation, and amortization (EBITDA) reached IDR 7.79 trillion.
Along with the increase in revenue, SMGR pre-tax profit reached IDR 3.30 trillion, with the net income for the year attributable to the parent entity amounting to IDR 2.17 trillion.
Vita Mahreyni, Corporate Secretary of Semen Indonesia, revealed that SIG performance in 2023 recorded significant growth in sales volume, revenue, and pre-tax profit.
SIG sales throughout 2023 reached 40.62 million tons, up 10% compared to the previous year. Domestic bulk cement sales increased by 17.3%, while exports increased by 42%. "SIG's domestic sales growth exceeded domestic demand growth, especially in bulk sales," said Vita in a press release, Wednesday (13/3).
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SIG involvement in the National Strategic Project (PSN), such as the construction of the IKN Nusantara infrastructure and the Trans Sumatra Toll Road, drove an increase in domestic sales, especially in bulk sales. This resulted in a revenue increase of 6.2% from the previous year.
Despite costs increasing due to rising fuel costs and inflation, SIG managed to suppress the total cost/ton through operational optimization initiatives. SIG also succeeded in reducing interest-bearing debt and financial burdens, which contributed to an increase in pre-tax profit.
SIG received a credit rating of idAA+ Positive from Pefindo, up from the previous idAA+ Stable, reflecting a strong market position and a healthy financial profile.
SIG also demonstrated significant environmental and social achievements, with a reduction in GHG emission intensity of 17.37% from the 2010 baseline. In scope 2, the reduction reached 5.22%.
On the social side, SIG contributed to improving the quality of life of the community through health and economic empowerment programs. SIG's social innovation programs such as bilih fish conservation in Singkarak Lake, West Sumatra, and post-mining land management in Tuban, East Java, led SIG to win the 2023 Proper Gold.
SIG's success in economic, environmental, and social aspects led the company to achieve the best ESG Rating in the construction material category in Southeast Asia.
SIG also won the Domestic Product Use Award (P3DN) in 2024 as the Best Domestic Product User in the SOE category from the Ministry of Industry, making it the first SOE to win the award two years in a row.
In 2023, SIG and its subsidiaries recorded domestic product expenditure of IDR 23.74 trillion or reached 92.92% of the total expenditure on goods and services.
