Semen Indonesia full-year net profit falls

Semen Indonesia full-year net profit falls
24 February 2016

PT Semen Indonesia Tbk reported an 18.7 per cent drop in 2015 net profit to IDR4.52trn (US$336.56m) versus IDR5.56trn a year earlier.

In its financial report published Tuesday, the company's 2015 revenues totalled IDR26.95trn, virtually flat from the IDR26.99trn in 2014 amid sluggish demand.

The company's president director Suparni attributed the fall in net profits to the increase in electricity and distribution costs, as well as the depreciation of the rupiah against the US dollar, local press reported.

Semen Indonesia's total sales in 2015 were up by 0.4 per cent to 26.45Mt. The company saw a -0.7 per cent decline in domestic sales. Exports for the year, however, were were up considerably by 144.8 per cent to 482,000t, all of which derived from group companies Semen Padang and Semen Tonasa.

The publicly-listed company plans to further increase exports this year. It also expects to begin operations at two new cement plants – Indarung VI in West Sumatra and Rembang in Central Java – in the third quarter of this year.

Published under Cement News