Sie sind auf Seite 1von 3

PRESS RELEASE

For Immediate Release


For Immediate Release

INDOCEMENT OVERVIEW FINANCIAL RESULTS IN H1 2015

Result of well-managed margins


Solid balance sheet
Expansion capacity is on track

Financial Highlights in the First Half 2015


Description

Total Sales Volume (thousand tons)


Domestic Sales Volume (thousand tons)
Export Sales Volume (thousand tons)
Net Revenues
Cost of Revenues
GROSS PROFIT
% of Net Revenues
Operating Expenses
Other Operating Income
OPERATING INCOME
% of Net Revenues
EBITDA
% of Net Revenues
Finance Income
Equity in Net Earnings of Associated Companies - Net
INCOME FOR THE PERIOD
Other Comprehensive Income(Expense)
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD
Attributable to owners of the Company
Attributable to non-controlling interests

H1 2015
IDR Bio
8,320
8,247
73
8,874.8
(4,880.7)
3,994.1
45.0%
(1,435.5)
42.0
2,600.6
29.3%
3,062.3
34.5%
352.4
13.0
2,309.2
(53.7)

H1 2014
IDR Bio
9,014
8,972
42
9,498.6
(5,285.1)
4,213.5
44.4%
(1,502.0)
66.8
2,778.3
29.2%
3,213.1
33.8%
433.2
10.1
2,521.3
(20.4)

Variance
IDR Bio
(694) UF
(725) UF
31
F
(623.8) UF
404.4
F
(219.4) UF

%
-7.7%
-8.1%
72.5%
-6.6%
-7.7%
-5.2%

66.6
(24.8)
(177.7)

F
UF
UF

-4.4%
-37.1%
-6.4%

(150.8)

UF

-4.7%

(80.7)
2.9

UF
F

-18.6%
28.9%

(212.1)

UF

-8.4%

(33.2)

UF

162.7%

2,255.5

2,500.9

(245.3)

UF

-9.8%

2,255.5

2,497.7

(242.2)

UF

-9.7%

3.1

(3.1)

UF

-100.0%

PT Indocement Tunggal Prakarsa Tbk. (the Company) has posted domestic sales
volume of 8.2 million tons in the first semester 2015 which is 8.1% lower than 9 million tons
sold last year. This reduction was inline with the national domestic cement demand which
decreased by 4%, thus the Companys market share declined from 30.5% in H1 2014 to 29.1%
in H1 2015.
While domestic consumption was slowing down, the export sales volume of cement and
clinker was higher by 72.5% from 42.4k tons in H1 2014 to 73.2k tons in H1 2015. The
Companys total sales volume in H1 2015 declined by 7.7% to 8.3 million tons (H1 2014: 9.0
million tons).

1 /3

Result of well-managed margins

The Companys net revenues decreased by 6.6% to IDR8,874.8 billion (H1 2014:
IDR9,498.6 billion) mainly due to lower domestic sales volume of 8% compared to previous
year while the average price in the semester 1 this year was still above prior year level by
1.1%.
The cost of revenues decreased by 7.7%, IDR4,880.7 billion in H1 2015 compared to H1
2014, IDR5,285.1 billion basically as a result of lower sales volume. In the current weak
market environment, the Company managed to achieve a higher gross profit margin up from
44.4% to 45% while in terms of nominal amount it decreased by 5.2% from IDR4,213.5
billion to IDR 3,994.1 billion. Focus of the Company on margin management is reflected in
achieved results.
Operating expenses decreased by 4.4% from IDR1,502 billion in H1 2014 to IDR 1,435.5 in
H1 2015 mainly due to lower logistic costs by 8.5% resulting in a relatively stable operating
profit margin at 29.3%. In an absolute amount however, profit margin is lower by 6.4% from
IDR 2,778.3 billion in H1 2014 to IDR 2,600.6 billion in H1 2015.
EBITDA margin increased from 33.8% in H1 2014 to 34.5% in H1 2015. Considering the
weak market environment, certainly this achieved margin was the hard effort from the
company to press expenses as efficient as possible, especially in reducing fixed cost
significantly. Due to weakening of cement demand and declining sales volume, the nominal
amount decreased by 4.7% to IDR3,062.3 billion in H1 2015 from IDR 3,213.1 billion in H1
2014.
In finance income, caused by a lower interest rate environment and a much higherdividend
distribution to shareholders in June compared to July last year, the company recorded lower
financial income by 18% from IDR 433.2billion to IDR 352.4billion in H1 2015.
At the bottom line, net income for the H1 2015 declined by 8.4% to IDR 2,309.2 billion (H1
2014: IDR2,521.3 billion).

Solid balance sheet


Description

Current Assets
Non-Current Assets
Current Liabilities
Non-Current Liabilities
Net Equity
Total Assets = Total Liabilities + Equity

Jun 30, 2015


IDR Bio
11,290.9
14,063.2
2,455.9
1,035.3
21,862.9

Dec 31, 2014


IDR Bio
16,086.8
12,797.9
3,260.6
1,047.1
24,577.0

25,354.1

28,884.6

Variance
IDR Bio
%
(4,795.8)
-29.8%
1,265.3
9.9%
(804.7)
-24.7%
(11.7)
-1.1%
(2,714.0)
-11.0%
(3,530.5)

-12.2%

As of 30th June 2015, the Company continues to record a net cash position with cash and
cash equivalent at IDR 6,634 billion. The strong cashflow generated from the operation and
the managements efforts to enhance working capital management are keys to achieve
strong and solid balance sheet.
The company also distributed a dividend in June 2015 in a total amount of IDR4.96 trillion
(IDR1,350 per share) or 94% payout ratio which is a significant increase compared to
previous year by 50% (PY: total IDR 3,313.1 bio, IDR900 per share and 66% payout ratio).

2 /3

Expansion capacity is on track

The Company believes that domestic demand will be better in 2nd half 2015 compared to 1st
half especially since the infrastructure projects have been started by the government and
some other private projects. The development of infrastructure projects by the government
is expected to be the main trigger which is affecting property development and public
facilities in surrounding areas.
To anticipate the strong domestic demand and to be able to compete with more efficient
production cost, the Company is in the progress of the construction of integrated with latest
technology (a brown-field cement factory ,Plant 14 project) in Citeureup area with a
production capacity of 4.4 million tons per year which is expected to be ready by the end of
2015.
In addition to that the Company is still continuing feasibility study and licenses process
needed to construct two new greenfield cement factories with each having a production
capacity of at least 2.5 million tons per year, one in Central Java and another one in North
Sumatra.

Jakarta, August 2015


For further information, please contact:
Pigo Pramusakti Corporate Secretary
Beate Binkowski Corporate Finance Division Manager
PT Indocement Tunggal Prakarsa Tbk.
Wisma Indocement level 8
Jl. Jenderal Sudirman Kav.70-71, Jakarta 12910
Telephone: (021) 2512121; Facsimile: (021) 2510066
www.indocement.co.id

3 /3