Jakarta, November 15, 2024 – PT Solusi Bangun Indonesia Tbk (SBI/The Company) has reported its audited consolidated financial performance for the nine-month period ending September 30, 2024. Below is a summary of its performance:
- Total sales volume: 9.8 million tons
- Revenue: Rp8.74 trillion
- Cost of revenue: Rp7 trillion
- Gross profit: Rp1.7 trillion
- EBITDA: Rp1.4 trillion
- Net profit for the period: Rp422 billion
Performance Review and Industry Challenges
The global economic slowdown impacting domestic economic activities has affected the cement industry’s performance. According to the Indonesian Cement Association (ASI), domestic cement consumption declined by 2.5% year-on-year from January to September 2024. Despite these challenges, SBI President Director Asri Mukhtar expressed optimism about Indonesia’s economic fundamentals, supported by the government’s commitment to continuing infrastructure development and addressing a housing backlog of 9.9 million units.
Support for Development and Eco-Friendly Product Innovation
Asri Mukhtar stated, “SBI supports the government’s efforts to provide infrastructure and housing for the community while creating growth opportunities in the building materials sector.” The company continues to innovate in its portfolio of high-quality, eco-friendly cement products, including offerings with carbon emissions up to 38% lower than conventional cement. Its flagship products include Dynamix Cement, Semen Andalas, and value-added concrete such as SpeedCrete (fast-drying concrete for road repairs) and ThruCrete (permeable concrete to reduce water pooling).
Business Outlook Through the End of 2024
Despite industry challenges, SBI has maintained profitability by reducing debt through accelerated payments. The company is committed to optimizing every opportunity to achieve solid growth. Asri Mukhtar highlighted that the cement industry outlook is expected to improve with the government’s commitment to projects like the Nusantara Capital City (IKN) and other strategic initiatives. The government’s program to construct 3 million housing units annually starting in 2025 also presents opportunities to reduce the housing backlog and improve the community’s quality of life.
Market Expansion and Strategic Synergy
Beyond offering green products, SBI is strengthening synergies with SIG for domestic market management and expanding export markets through strategic partnerships with Taiheiyo Cement Corporation (TCC). “We will continue to focus on innovation to achieve increasingly efficient, sustainable operations while delivering added value for customers and stakeholders,” concluded Asri Mukhtar.
Recognition of Sustainability Commitment
SBI’s commitment to quality operations and sustainability principles has been recognized through the Good Mining Practice award from the Ministry of Energy and Mineral Resources for its three plants in Narogong (West Java), Lhoknga (Aceh), and Tuban (East Java). On the social front, SBI also received special recognition for its Supplementary Feeding for Toddlers program in collaboration with local health centers, earning an award at the CSR Awards by Investortrust.