INTP – Sales volume grew 7.3% yoy in 9M24

INTP – Sales volume grew 7.3% yoy in 9M24 Indocement Tunggal Prakarsa' (INTP) cement and clinker sales volume reached 14.73 mn tons (+7.3% yoy) in 9M23, thanks to additional sales volume from Semen Grobogan. INTP' revenue reached IDR13.32 tn (+3.03% yoy) in 9M24, but its net profit declined 16.67% yoy to IDR1.05 tn due to softer sales volume in the bag cement amidst weak purchasing power, with higher COGS at IDR9.23 tn. Fortunately, the market share of its bulk cement has increased to 30.7%, in 9M24. Thus, INTP is still optimist on the cement industry outlook as it is currently supported by the extension of 100% VAT discount for home purchases until the end of year, with expectation on lower interest rate, several recent government initiatives and the possibility of further stimulus for the property sector. (Source : Kontan)