Indocement sees 3% uptick in 8M21 sales

ndonesia-based Indocement Tunggal Prakarsa is on track to sell up to 18.1Mt of cement in 2021, according to Mirae Asset Sekuritas analyst Mimi Halimin.

The company has seen its domestic sales expand by 3.3 per cent to 10.4Mt in the first eight months of the year. In August there was an 0.5 per cent uptick to 1.5Mt.

“Although relatively flat from last year, the volume was 7.7 per cent higher than the previous month. This indicates a recovery in volume along with the gradual pick-up in economic activity,” said Ms Halimin. 

"In addition, the second half of this year is usually a more favourable season for cement demand. During 2019/2020, INTP's second semester of domestic sales volume was around 31 percent and 29 percent higher than the first semester," she said.

Ms Halimin also expects a gradual volume recovery in line with the development of a lower number of COVID-19 cases per day.