Revenue Erosion Leads to 27.62% Drop in Semen Indonesia's Profit in 2021

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Viva Budy Kusnandar 02/03/2022 18:50 WIB

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Indonesia Semen booked a net profit attributable to the parent entity of Rp2.02 trillion throughout 2021.

Semen Indonesia (Persero) Tbk Financial Report (2016-2021)

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Revenue Erosion Leads to 27.62% Drop in Semen Indonesia's Profit in 2021

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Semen Indonesia (Persero) Tbk Financial Report (2016-2021)

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Semen Indonesia (Persero) Tbk reported a net profit attributable to the parent entity of Rp2.02 trillion throughout 2021. This figure is a 27.62% decrease compared to the previous year's net profit of Rp2.79 trillion.

Consequently, the earnings per share of the cement producer, traded under the code SMGR, also fell to Rp341 per share in 2021, compared to Rp471 per share in the previous year.

Declining sales, coupled with increasing expenses, caused SMGR's profit to fall. Sales of this government-owned cement company decreased slightly by 0.61% to Rp34.96 trillion in 2021, compared to Rp35.17 trillion in the previous year.

Meanwhile, the cost of goods sold increased by 2.81% to Rp24 trillion in 2021, compared to Rp23.35 trillion in the previous year. Increases in other expenses also contributed to the decline in SMGR's profit.

Over the past six years, SMGR achieved its highest profit of Rp4.52 trillion in 2016. Since then, the profit of the company formerly known as Semen Gresik has remained below Rp4 trillion, even though its revenue has tended to increase.

SMGR shares traded down 5.28% to Rp6,725 per share on Wednesday (March 2nd), compared to the previous closing price of Rp7,100 per share. Compared to the end of last year, the SMGR share price also corrected by 7.24% (year to date/ytd).

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."