BCAS – Cement: Cement Harden, Volume Weaken

BCAS – Cement: Cement Harden, Volume Weaken

- May cement sales volume remains weak despite of monthly recovery post-Lebaran, with total sales volume standing at 5.18m tons (+32.3% MoM, -4.6% YoY), while the 5M25 volume still recorded negative growth of -2.1% YoY to 22.26m tons.
- Both bag and bulk volume declined -4.1% and -5.8% YoY, implying weak purchasing power and slower consumption from IKN – providing no support on cement demand. Note that, bulk cement outside of Java was down 10.2% YoY.
- INTP May cement sales volume also fell -4% YoY to 1.53m tons (+38.5% MoM), and the cumulative 5M25 was in-line with industry down
-2.1% YoY to 6.59m tons. Although company is supplying to signature government's projects (MRT and LRT), we are still not seeing any strong catalyst to boost the demand.
- Construction of 3m housing program can increase cement demand by up to 10-13.5m tons, however it has not reflected to national cement demand. Therefore, we maintain our NEUTRAL outlook on cement sector.

 

Aspirasi Hidup (ACES) Approved IDR 579.87 bn Dividend for FY24
ACES approved a cash dividend of IDR 579.87 bn (IDR 33.87/sh; Div. yield: 6.45%), representing a 65% payout ratio. The dividend schedule is as follow:
- Cum Date (Regular and Negotiated Market): 25 Jun-25
- Ex Date (Regular and Negotiated Market): 26 Jun-25
- Cum Date (Cash Market): 30 Jun-25
- Ex Date (Cash Market): 1 Jul-25
- Recording Date: 30 Jun-25
- Payment Date: 17 Jul-25
(Emitennews)