PT Semen Indonesia Tbk (SMGR IJ) - Facing Challenges Head-On
SMGR recorded a revenue of IDR8.4tn in 1Q24, marking a contraction of -6.3% YoY (vs IDR8.9tn in FY22) and reflecting 21.3%/20.8% of MNCS/Consensus...
468 Views
Cement: Downgrade Sector to Neutral on Weak ASP and Lower Demand
Given weak ASP, we lower our FY24F/ FY25F EPS by 21%/20% as we cut our FY24 ASP hike assumption to 0% to -1.5% (vs. +1%-2% prev.).
303 Views
Cement: Improving S-D with IKN as Demand Driver
We expect the IKN project to help sustain industry growth and estimate industry’s 2.6%/3% vol growth for 2024F/25F and 3%-4% for 2026F-30F.
343 Views
The Week That Was in ASEAN@Smartkarma - Ultrajaya's Recovery, MAPI's Regional, and Semen Indonesia.
The past week saw insights on Ultrajaya Milk (ULTJ IJ), Mitra Adiperkasa (MAPI IJ), PT Nippon Indosari Corpindo (ROTI IJ), Bukalapak.com (BUKA IJ),...
474 Views
Semen Indonesia (SMGR IJ) - Solidifying Indonesia's Future Path
Increasing infrastructure spending will help to drive growth in demand for bulk cement, especially from the new capital, with Semen Indonesia being...
669 Views