Semen Indonesia records 5.8 percent sales increase in 2018

Surabaya, E Java, (ANTARA News) - State-owned cement producer PT Semen Indonesia (Persero) Tbk has recorded a 5.8 percent increase in sales to 33.15 million tons in 2018.

"Semen Indonesia Group's total sales reached 31.34 million tons in 2017," a spokesman of the company Sigit Wahono stated here on Wednesday.

Wahono noted that the growth was supported by cement export that has surged 68.7 percent, from 1.87 million tons in 2017 to 3.15 million tons in 2018.

Meanwhile, domestic sales slightly increased by 1.2 percent, from 27.09 million tons in 2017 to 27.42 million tons in 2018.

"Oversupply has become one factor that undermined domestic sales, with more players in national cement industry," he added.

However he expressed optimism that the company's domestic sales in 2019 would grow further despite the political situation ahead of the presidential elections that overshadowed the market.

"We also planned to expand our market to countries in Southeast Asia, South Asia, Africa, Middle East, and Australia. The potential of export market is promising," he remarked.

Semen Indonesia Group had a total installed capacity of 38.2 million tons in 2018. It is expected to increase the installed capacity to 53 million tons in 2019, after it acquires 80.64 percent shares of PT Holcim Indonesia Tbk.

Semen Indonesia in November 2018 announced it had taken over 6.18 billion shares of Holcim, 80.64 percent of the companys shares in a US$916 million transaction.

Source: Antara News

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