Aldira Sunrise 7 Agustus 2024

ADMR’s coal sales volume increased 43% in 1H24
Adaro Minerals Indonesia (ADMR) produced 2.98M tons of coal in 1H24 (+17% yoy). All production in this period came from Maruwai Coal and Lahai Coal, which produced hard-cooking coal with very low ash, low phosphorus, and high vitrinite content. Meanwhile, sales volume reached 2.59M tons (+43% yoy). Most sales come from the domestic market, which accounts for 37% of the total sales volume. Meanwhile, the largest export sales are from Japan (29%), followed by South Korea (15%), China (11%), India (5%), and Malaysia (3%). (Bisnis Indonesia)
INTP’s cement sales were up 8% in 1H24
Indocement Tunggal Prakarsa (INTP) recorded a total sales volume of cement and clinker of 9.03M tons in 1H24 (+8% yoy). Overall, INTP’s domestic cement sales volume was recorded at 8.87M tons (+10% yoy) thanks to additional volume from Semen Grobogan. Based on data from the Indonesian Cement Association (ASI), INTP’s domestic market share is at 29.4%, with a 37.7% market share in Java and 20.5% outside Java. Not only to domestic market, INTP was also able to achieve export sales of 163,000 tons in 1H24. The company achieved a revenue of IDR 8.12T in 1J24 (+1.9% yoy) with a significant increase in the revenue composition of bulk cement products to 30.6% from 25.4% in 1H23 as the result of increasing cement supplies to the new capital and accelerating other infrastructure projects. (Kontan)
ROTI has been approved for a share buyback
Nippon Indosari Corpindo (ROTI) agreed to buy back shares at the Extraordinary General Meeting of Shareholders (EGMS). Shareholders approved the company to carry out a share buyback of a maximum of 88M shares at a maximum price of IDR 1,700 per share. The buyback will be carried out using the company’s internal cash. As of Jun 24, the net cash proceeds from ROTI’s operating activities reached IDR 214.1B, exceeding the share buyback fund allocation requirement which is estimated at IDR 149.6B. (Bisnis Indonesia)