PT Indocement Tunggal Prakarsa (INTP) Q2 2025 earnings summary

Executive summary

• H1 2025 net revenue was Rp8,032,816 million; net income rose 13.8% to Rp494,757 million and EBITDA increased 1.3% to IDR 1,349.8bn despite weaker domestic demand.

• Total sales volume fell 1.6% to 8.891m tons; domestic volume declined 2.4%, while exports rose 45.8% to 237kt.

• Operating cash flow turned positive at Rp536,641 million, compared with Rp321,453 million used in H1 2024.

Financial highlights

• Net revenue declined 1.1% YoY to Rp8,032,816 million; cost of revenue fell to Rp5,690,935 million from Rp5,826,365 million.

• Gross profit increased 1.9% to Rp2,341,881 million; gross margin was 29.2%, up from 28.3%.

• Operating income rose 4.6% to IDR 602.2bn; EBITDA increased 1.3% to IDR 1,349.8bn.

• Net income rose to Rp494,757 million from Rp434,708 million; EPS increased to Rp147.69 from Rp126.92.

• Lower net finance expense supported profit growth; income tax expense rose 12.6% to IDR 122.1bn, while net other expense was Rp35,130 million versus net other income of Rp115,363 million.

Segment performance

• Domestic sales declined 2.4% YoY to 8,654kt; exports increased 45.8% to 237kt.

• H1 market share was 29.5% overall, 36.5% in Java and 21.9% outside Java.

• Cement external sales were Rp7,407,179 million and segment profit Rp473,244 million; ready-mix sales were Rp578,277 million and segment profit Rp1,832 million.

• Aggregates external sales were Rp47,360 million and segment profit Rp19,681 million.

• Demand shifted toward Java bulk cement; H1 domestic bulk demand fell 10.2%, while bag demand was flat YoY.