Indonesia: Semen Indonesia’s revenue grew by 23% year-on-year to US$1.17bn in the first half of 2019 from US$0.95bn in the same period in 2018. Its net profit halved to US$34.3m from US468.8m. Its domestic sales volumes of cement fell by 7.17% to 7.78Mt in the first five months of 2019 from 10.54Mt in the same period in 2018. Exports rose by 7.42% to 1.38Mt from 1.28Mt. Both local sales and exports fell at its Thang Long Cement subsidiary in Vietnam. However, its acquisition of Holcim Philippines in February 2019 has boosted its overall sales by 17% to 15.2Mt.
Semen Indonesia continues to benefit from Holcim Indonesia acquisition as local sales fall
Written by Global Cement staff
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