JAKARTA – The profit of PT Semen Indonesia (Persero) Tbk (SMGR) plummeted 42.10% year-on-year (yoy) in H1 2024 compared to H1 2023. This Indeks52 constituent reported revenue of IDR 16.41 trillion, slipping 3.64% yoy from IDR 17.03 trillion.

Based on Financial Report of H1 2024 quoted today (1/8), SMGR’s revenue from related parties reached IDR 1.01 trillion, up from IDR 954.05 billion, while third parties brought in IDR 15.39 trillion, down from IDR 16.07 trillion.

The third-party sales were mostly cement sales, generating IDR 12.21 trillion, followed by slag sales of IDR 1.39 trillion, precast and ready-to-use concrete sales of IDR 759.38 billion, non-cement building materials of IDR 418.52 billion, land lease of IDR 82.70 billion, cement sacks of IDR 22.17 billion, and other of IDR 498.12 billion.

In H1 2024, this issuer booked gross profit of IDR 3.87 trillion, down 12.63% yoy from IDR 4.41 trillion, with gross profit margin of 23.50%, also down from 25.92% seen in H1 2023.

Lastly, its net profit for the year was IDR 503.49 billion, dropping 43.51% yoy from IDR 891.35 billion, while net profit attributable to the parent entity also slipped to IDR 501.47 billion from IDR 866.23 billion. (LK/ZH)