In the first nine months of 2022, SIG consistently succeeded in recording improved company performance amid the challenges of high industrial competition and rising fuel and energy prices.
Jakarta (ANTARA) - State-owned cement company PT Semen Indonesia (SIG) reported a net profit of Rp1.65 trillion in the third quarter of 2022, up 18.9 percent from Rp1.39 trillion recorded in the corresponding period of the previous year.

"In the first nine months of 2022, SIG consistently succeeded in recording improved company performance amid the challenges of high industrial competition and rising fuel and energy prices," SIG corporate secretary Vita Mahreyni said in a statement released here on Tuesday.

The revenue of the SMGR stock-coded issuer reached Rp25.28 trillion in the third quarter, and the cost of revenue was recorded at Rp17.94 trillion.

In the midst of various challenges and changes, SIG consistently focused on topline management strategies and used a multi-brand approach to optimize profitability margins by taking a dominant market share, she informed.

The company also continuously controlled costs to achieve operational excellence through the optimization of production and distribution networks, she added.

"We also applied the principles of sustainable development to achieve the decarbonization target by reducing the clinker factor and increasing the thermal substitution rate (TSR)," she informed.

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She claimed that GIS also proved its resilience not only through its business achievements, but also sustainable operations that underlined the company's competitiveness.

As of September 2022, SIG succeeded in reducing carbon emissions by up to 591 kg CO2 per ton of cement, a decline of 2.1 percent (equivalent to 13 kg CO2/ton cement), which was supported by a decrease in the clinker factor of 1 percent to 69.1 percent and an increase in the thermal substitution rate (TSR) from 1.6 percent to 7.1 percent.

GIS’ commitment to decarbonization efforts was also reflected in the sustainability framework, which served as a reference for funding support for the implementation of various corporate sustainability initiatives, according to Mahreyni.

In addition to its five strong cement brands dominating the retail market in the regions, namely Semen Gresik, Semen Padang, Semen Tonasa, Dynamix, and Semen Andalas, GIS’ products also supported the development needs of large projects and infrastructure, such as road, port, and building constructions.

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Translator: Citro Atmoko, Fardah
Editor: Suharto
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