Profile

Industry Sector Basic Industry and Chemicals
Industry Sub Sector Cement
Established 14 November 1974
Listed 28 June 2013
Listed Company Code SMBR
Listed Shares 9,837,678,500
Dividend Yes
Major Shareholders (>5%) Government of Indonesia (76.23%)
Key Subsidiaries -

Stock Quote Semen Baturaja - SMBR:

Business Summary

In 1991 the government of Indonesia took over all shares of Semen Baturaja (previously the central government already had a majority stake in the company). In 2013, nearly 24 percent of the company's shares were offered to the public through an initial public offering (IPO) on the Indonesia Stock Exchange. Funds generated through the IPO were used for the construction of the Baturaja II plant (with an annual production capacity of 1.85 million tons of cement).

Read Analysis: Overview and Analysis of Indonesia's Cement Industry

The major markets of Semen Baturaja are located close to the production center in South Sumatra and Lampung. After Java, Sumatra is the second-largest Indonesian island in terms of cement demand.

Strengths of Semen Baturaja:

Its plants are located close to its markets in Sumatra
Sumatra is the second-largest cement consumer of Indonesia (after Java)
Good reputation and more than 40 years of experience
Low use of leverage
The Indonesian government is committed to enhance the country's infrastructure development
Per capita cement production is still low in Indonesia

Weaknesses of Semen Baturaja:

Its distribution area is limited (mainly Lampung and South Sumatra)
Due to influx of new companies and expansion of existing companies, Indonesia has a cement oversupply. The oversupply and fierce competition lead to lower profit margins
In 2015 the government ordered state-owned cement producers to lower cement prices

Semen Baturaja's Operational Highlights:

      2012     2013     2014     2015     2016
Cement Production
(in tons)
1,234,163 1,287,028 1,264,604 1,537,100 1,627,521
Cement Sales Volume
(in tons)
1,233,933 1,262,386 1,262,707 1,538,048 1,631,864

Source: Semen Baturaja Annual Report 2016

Semen Baturaja's Financial Highlights:

      2011     2012     2013     2014     2015     2016
Net Sales  1,050.3  1,097.7  1,168.6  1,214.9  1,461.2  1,522.8
Gross Profit    428.5    489.8    462.2    379.2    493.6    511.0
Net Income    251.6    298.5    312.2    336.0    354.2    259.1
Income from
Operations
   307.2    367.1    329.2    253.3    323.3    328.4
EBITDA    354.0    417.4    395.9    341.9    414.2    419.5
Current Assets    612.1    667.7  2,106.6  2,335.8  1,938.6    838.2
Current Liabilities    146.1    171.4    193.6    179.7    234.7    292.2
Earnings per
Share¹
     37      34      36      26
Dividend per
Share¹
     7,9      8,3     9,0
P/E Ratio (x)     10.4     11.5     13.1
P/BV (x)      1.3      1.3      1.6

in billion IDR rupiah unless otherwise stated
¹ in IDR rupiah
Sources: Semen Baturaja Annual Report 2016

Location

Contact Details

Gedung Graha Irama 9th Floor Block B dan C
Jalan H.R. Rasuna Said Kav. 10
Jakarta - 12950
Phone: +62 21 526 1113
Fax: +62 21 526 1411
Email: [email protected]
www.semenbaturaja.co.id