Jakarta, March 28, 2025 – Throughout 2024, Indonesia's cement industry faced fluctuating market conditions, as demand adjustments in the real sector were influenced by changes in consumer purchasing power and the rescheduling of several government projects related to the General and Regional Elections. Despite these conditions, national cement sales volume remained relatively stable, reaching 64.9 million tons, a slight decrease of around 1% compared to 2023, which recorded 65.5 million tons.

The Company leveraged this situation to further strengthen its position in key markets through a focused market penetration strategy, particularly in Sumatra, which achieved a 12% sales growth throughout 2024. At the same time, the Company also recorded positive performance in the export market, with an increase in cement and clinker sales volume by 5% (YoY). The Company’s subsidiary in the concrete products business also contributed to overall performance, with a revenue growth of 15% and an EBITDA increase of 6% (YoY).

Financial Performance 2024
Amid price dynamics in both global and domestic markets, the Company maintained its financial performance by recording revenue of IDR 8.9 trillion. Changes in domestic cement selling prices and clinker export prices followed market trends, affecting operational performance and impacting EBITDA in the cement sales segment. However, the Company’s downstream business successfully recorded positive EBITDA growth, becoming a key pillar in the diversification of the Company’s revenue.

Positive Recovery and Strengthening Growth in 2025
A positive recovery began to emerge in the last quarter of 2024 and continued to strengthen in early 2025. Trends indicate growth in both sales volume and pricing, signalling a promising market expansion. Demand for the Company’s products, both domestically and internationally, is expected to continue rising.

The Company continues to focus to strengthen its key markets and expand its coverage into new regions, both locally and internationally, through deeper market penetration strategies. Additionally, the Company has taken strategic initiatives to enhance its financial and operational resilience. In early 2025, the Company consolidated its bank loans with a more optimal funding structure and secured additional funds for CAPEX investments in the logistics sector. These funds will be invested in logistics and distribution strategic assets to improve operational efficiency and develop logistics infrastructure for better distribution planning.

From a commercial perspective, the Company continues to strengthen synergies with its subsidiaries in the concrete products business through innovations that deliver high-value concrete solutions and new products that are more cost- and time-efficient. Expansion into new markets will also enhance economies of scale and solidify the Company’s position in the industry.

Innovation and Commitment to Sustainability
As part of its long-term commitment to sustainability, the Company has been operating approximately 40 electric vehicles and heavy equipment since April 2024 across various plants and mining areas. This initiative not only reduces CO₂ emissions but also improves operational efficiency.

The Company also continues to optimize the use of alternative raw materials and energy, both in Indonesia and at its subsidiary in Vietnam. In terms of innovation, the development of environmentally friendly products that comply with regulations remains a key focus.

For these efforts, the Company received the Green Label Indonesia Certificate from the Green Product Council Indonesia for various cement products produced at its cement plants. The Company is the first cement producer to achieve this Platinum category certification. This achievement reinforces the Company’s commitment to delivering sustainable products.

Optimism for the Future
With a clear strategy and a strong commitment to quality, efficiency, and sustainability, Cemindo Gemilang remains optimistic about 2025 and is dedicated to driving better performance, creating added value for customers, partners, and society. The company is ready to move forward with enthusiasm and a vision for a brighter future.

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