Cement market to grow 10%, Indocement's profit jumped 537%
Indonesia's cement consumption is expected to grow 10% this year to 33 million tones from about 30 million tones last year, said Dwi Sutjipto, president director of PT Semen Gresik Tbk.
PT Semen Gresik Tbk, majority shares owned by government, is the largest supplier wit 45% market share, the company said. Semen Gresik shares are traded at Jakarta Stock Exchange. Mexican Cemex SA is the second largest shareholder with 25% stakes.
The company and its subsidiaries (PT Semen Padang and PT Semen Tonasa) have combined production capacity of 17 million tones per year. The national cement production capacity is about 45 million tones. The company is embarking on feasibility study to build new plant with design capacity of 2.5 million tones per year and investment up to Rp3.5 trillion (around Us$400 million).
Meanwhile, the second largest producer PT Indocement Tunggal Prakrasa Tbk, reported net profit of Rp739.68 billion (approximately US$80 million) last for the financial year 2005 ended in December, a 537% jump from Rp116 billion in 2004. The company published the income statement today in some newspapers.
Indocement with combined production capacity of 16.5 million tones per year booked net sales of Rp5.59 trillion in 2005, an increase of 21% from Rp4.61 trillion, thanks to robust growth in the property and construction sector.
The 537% net profit growth was mainly because in the previous year Indocement booked loss of Rp498 billion in foreign exchange translation. The more realistic figure is operating profit of Rp1.21 trillion last year compare to Rp836 billion in 2004 which means around 50% growth in profit margin.
HeidelbergCement holds 65.14% shares in Indocement, followed by Salim's PT Mekar Perkasa at 13.03%, and public investors at 21.83%.
The third largest producer PT Holcim Indonesia Tbk (formerly PT Semen Cibinong Tbk) announced last month that it's operating profit was expected to grow by 40% for 2005.
Holcim is capable to produce 7.9 million tones per year and vying for 17% market share this year. Holcim became majority shareholder in 2001, controlling 77.33% of the paid up capital.
PT Semen Gresik Tbk, majority shares owned by government, is the largest supplier wit 45% market share, the company said. Semen Gresik shares are traded at Jakarta Stock Exchange. Mexican Cemex SA is the second largest shareholder with 25% stakes.
The company and its subsidiaries (PT Semen Padang and PT Semen Tonasa) have combined production capacity of 17 million tones per year. The national cement production capacity is about 45 million tones. The company is embarking on feasibility study to build new plant with design capacity of 2.5 million tones per year and investment up to Rp3.5 trillion (around Us$400 million).
Meanwhile, the second largest producer PT Indocement Tunggal Prakrasa Tbk, reported net profit of Rp739.68 billion (approximately US$80 million) last for the financial year 2005 ended in December, a 537% jump from Rp116 billion in 2004. The company published the income statement today in some newspapers.
Indocement with combined production capacity of 16.5 million tones per year booked net sales of Rp5.59 trillion in 2005, an increase of 21% from Rp4.61 trillion, thanks to robust growth in the property and construction sector.
The 537% net profit growth was mainly because in the previous year Indocement booked loss of Rp498 billion in foreign exchange translation. The more realistic figure is operating profit of Rp1.21 trillion last year compare to Rp836 billion in 2004 which means around 50% growth in profit margin.
HeidelbergCement holds 65.14% shares in Indocement, followed by Salim's PT Mekar Perkasa at 13.03%, and public investors at 21.83%.
The third largest producer PT Holcim Indonesia Tbk (formerly PT Semen Cibinong Tbk) announced last month that it's operating profit was expected to grow by 40% for 2005.
Holcim is capable to produce 7.9 million tones per year and vying for 17% market share this year. Holcim became majority shareholder in 2001, controlling 77.33% of the paid up capital.
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