Cement company PT Semen Baturaja (SMBR), a subsidiary of state-owned cement holding company PT Semen Indonesia (SIG), held its annual shareholders’ meeting in Jakarta on Wednesday, May 29, 2024, announcing the company’s positive performance in the fiscal year of 2023.
The company posted a net profit of Rp121.57 billion (US$7.4 million), an increase of 57 percent from 2022 which amounted to Rp77.3 billion or US$4.75 million. The meeting approved the distribution of dividends with a payout ratio of 20 percent, with a total cash dividend of Rp24.31 billion, and the remaining 80 percent or Rp 97.26 billion was designated as retained earnings.
This year’s dividend distribution increased compared to the previous year’s Rp18.96 billion. The company was able to record total cement sales volume growth of 7.56 percent to 2.16 million tons above the demand growth in the Southern Sumatra region, which is the company’s main market, which grew by 1.8 percent.
The company managed to record revenue throughout 2023 of Rp 2.04 trillion or an increase of 8 percent compared to last year’s period. In terms of Earning Before Interest, Taxes, Depreciation, and Amortization (EBITDA), it was recorded to reach Rp484.87 billion or an increase of 13 percent compared to 2022 which amounted to Rp430.45 billion.
“The achievement of 2023 is inseparable from the success of the company’s strategic initiatives through the SMBRGO45 efficiency program that began in 2020. The company also synergized and coordinated with Holding SIG as the strategy manager and operational executor of marketing and sales activities,” SMBR President Director Suherman Yahya said.
