PT Indocement Tunggal Prakarsa (INTP) Q4 2024 earnings summary

Executive summary

• FY2024 sales volumes rose 5.9% to 20.496 Mt; revenue increased 3.3% to Rp18,548,734m, EBITDA rose 7.7% to IDR 3,936 bn, and profit for the year grew 3.0% to Rp2,007,947m.

• Cash and cash equivalents ended 2024 at Rp4,496,547m; the independent auditor issued an unmodified opinion.

Financial highlights

• Gross profit increased 3.7% to Rp6,060,955m; gross margin was 32.7% versus 32.6% in FY2023.

• Operating income rose 4.9% to IDR 2,393 bn; operating margin was 12.9%, up from 12.7%. Operating expenses increased to Rp3,725,106m from Rp3,626,194m.

• Net finance expense was IDR 74.9 bn versus net finance income of IDR 84.7 bn, linked to interest expense on PT Semen Grobogan debt; associate profit share rose to IDR 145.3 bn from IDR 31.4 bn.

• Profit before income tax was Rp2,463,018m versus Rp2,396,348m; net income tax expense was Rp455,071m versus Rp446,082m, and total comprehensive income reached Rp2,020,344m.

Outlook and guidance

• Domestic cement demand is expected to grow 1–2% in 2025; potential supports include housing and school renovation programs, home-purchase VAT discounts and purchasing-power initiatives.

• Sustainability priorities include greater alternative-fuel use, lower clinker ratios, more green cement, solar power, automation and digitalization.