PT Semen Indonesia sees 10% revenue rise in 2018

PT Semen Indonesia increased revenues by 10.3 per cent YoY to IDR30.688trn in 2018 from IDR27,814trn in 2017.

The company’s consolidated sales volume reached 33.153Mt, including the sales from Thang Long Cement in Vietnam. Export sales from its Indonesian production base advanced 68.7 per cent to 3.157Mt when compared with 1.871Mt in 2017.

The Indonesian cement producer saw its cost of revenue advance by 7.6 per cent to IDR21.357trn when compared with IDR19.854trn in the previous year.

The company’s President Director, Hendi Prio Santoso, said that the increase in its performance in 2018 was supported by a new strategy through various transformation programmes implemented throughout the Semen Indonesia Group.

"One of the breakthroughs that supports significant performance improvements is cost transformation. This strategy is the key to the company's success," he said. He added that 2018 had proven a challenging year with rising coal prices adding to the company’s operating expenses. Furthermore, the entry of new players in the market had increased competition for Indonesia’s No 1 producer.