Indocement targets 4% sales growth

HeidelbergCement-owned PT Indocement Tunggal Prakarsa Tbk is targeting a four per cent sales volume growth this year on the condition that the business world will resume operations following COVID-19 vaccination programmes, according to the company’s Director and Corporate Secretary, Antonius Marcos. Last year sales of the Indonesian cement producer reached 16.5Mt and the new objective sets expected sales in 2021 at 17.16Mt.

However, the growth target remains below the 18.1Mt sales of 2018 despite being an improvement when compared with the eight per cent drop in sales in 2020.

JP Morgan Sekuritas expects the Indonesian cement industry to grow by 4-5 per cent in 2021 when compared with the previous year. This market expansion will be driven by the government’s focus on infrastructure development.