JAKARTA – PT Semen Indonesia (Persero) Tbk (SMGR) reported a downturn in Q3 2024 compared to the same period last year. Its revenue and net profit both slipped 4.93% and 58% year-on-year (yoy).

Based on Q3 2024 Financial Report quoted Friday (1/11), SMGR’s revenue reached IDR 26.29 trillion, slipping from IDR 27.66 trillion seen at the end of Q3 2023.

SMGR’s gross profit saw further decline, by up to 19.12% yoy, from IDR 7.43 trillion to IDR 6.01 trillion, dragging down the margin from 26.89% to 22.87%. Its net profit was then halved to IDR 719.72 billion from IDR 1.71 trillion.

The company reported third-party sales of IDR 24.53 trillion at the end of September 2024, down from IDR 26.06 trillion, while related-party sales went up to IDR 1.76 trillion from IDR 1.59 trillion.

In terms of operational aspects, its revenue from cement production reached IDR 18.99 trillion until the end of Q3 2024, followed by non-cement products of IDR 729 trillion.

For comparison, in Q3 2023, cement production brought in IDR 20.16 trillion, while non-cement production scored IDR 7.49 trillion. (LK/ZH)