Cement Prices Rise, Indocement Records Record Profits in 2022

Market

Lite

Adi Ahdiat 06/04/2023 14:39 WIB

URL has been copied

Memuat...

Indocement Tunggal Prakarsa Tbk (INTP) reported a net profit of Rp1.84 trillion in 2022, a 3% year-on-year (yoy) increase and the highest in the last four years.

A Font Kecil
A Font Sedang
A Font Besar

Access single data

Cement Prices Rise, Indocement Records Record Profits in 2022

Want to get more access to Data Stories with a more affordable price? Subscribe.

By subscribing, you join us in presenting quality data.

Get:

Premium Data Stories access
Comfortable reading without ads
Download data in XLS, PDF, and image format
Access to data source information

Basic

~~Rp100.000~~

Rp50.000/month

Professional

~~Rp100.000~~

Rp150.000/month

Institutional For organizations

We accept the following payments:

Some payment methods are still in the process of being activated.

Indocement Net Profit (2019-2022)

Download

Source

A Small Font
A Medium Font
A Bigger Font

PT Indocement Tunggal Prakarsa Tbk (INTP) reported a net profit of Rp1.84 trillion in 2022.

This achievement represents a 3% year-on-year (yoy) growth compared to 2021, setting a new record high over the past four years, albeit a slight one.

INTP's profit growth in 2022 aligns with its 10.5% yoy increase in revenue to Rp16.3 trillion, primarily driven by higher cement prices.

"Retail cement prices have increased by more than 30% since the beginning of Q4 2021, due to the significant increase in energy costs experienced by cement producers," stated INTP's management in its public exposure presentation on Thursday, March 30, 2023.

"The price increases, which occurred three times in 2022 (March, June, September), boosted net income, even though overall sales volume decreased," they continued.

In 2022, Indocement's domestic cement sales volume decreased by 1.6% yoy to 17.28 million tons, while export sales fell by 23.8% yoy to 306,000 tons.

During the same period, INTP's short-term liabilities increased by 3.8% yoy to Rp4.8 trillion, and its long-term debt rose by 51.6% yoy to Rp1.3 trillion.

This debt increase was driven by the company's expansion outside of Java Island.

Indocement's total equity decreased by 5.1% yoy to Rp19.6 trillion in 2022, and its total assets fell by 1.6% yoy to Rp25.7 trillion.

Beyond these financial figures, Indocement remains listed in the LQ45 index for the February-July 2023 period.

The LQ45 is a list of 45 selected issuers by the Indonesia Stock Exchange (BEI), whose performance is considered good based on specific criteria, such as large market capitalization and high liquidity.

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."