Jakarta, CNBC Indonesia – State-owned cement producer PT Semen Indonesia (Persero) Tbk (SMGR) reported a net profit attributable to the parent entity’s shareholders of IDR 450.36 billion for the first quarter of 2021.

This net profit showed a slight increase of 0.08% compared to the same period last year, which was IDR 446.45 billion. As a result, the earnings per share (EPS) increased to IDR 76 per share, up from IDR 75 per share previously.

According to the company’s financial report, SMGR recorded a revenue of IDR 8.07 trillion, a decrease of 5.6% from last year’s IDR 8.58 trillion.

Breaking it down, cement sales dropped to IDR 6.48 trillion from IDR 7.23 trillion, while slag sales rose to IDR 916.26 billion from IDR 623.82 billion. Other contributions came from ready-mix concrete and precast sales, totaling IDR 386.30 billion, cement bag sales of IDR 21.90 billion, land rental revenue of IDR 6.12 billion, and other income amounting to IDR 265.79 billion.

For the first three months of this year, Semen Indonesia’s cost of goods sold decreased by 1.7% to IDR 5.77 trillion from IDR 5.87 trillion previously. Consequently, SMGR’s gross profit stood at IDR 2.30 trillion, reflecting a 14.71% decline from the same period last year, which was IDR 2.70 trillion.

As of March 31, 2021, the company’s total assets amounted to IDR 76 trillion, up 0.5% from the end of December 2020, which was IDR 78.42 trillion. These assets consist of equity amounting to IDR 35.01 trillion and liabilities of IDR 41.62 trillion.

On today’s trading session, Tuesday (May 4, 2021), the company’s share price dropped by 1.97%, reaching IDR 9,975 per share. Since the beginning of the year, SMGR’s stock has corrected by 19.72%, with a market capitalization of IDR 59.17 trillion.