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Strength
Cement players may benefit from lower coal prices (energy costs up to 50% of COGS), projected to decline -12% YoY to USD 120/t in 2025 (from USD 136.4/t in 2024), driven by global economic uncertainties and oversupply pressure
Weakness
Limited upside for domestic sales volumes as oversupply and low utilization rates (proj: c.55) continue to trouble cement producers; Intense competition from Chinese players may continue to apply pressure on already narrow margins
Opportunity
The government’s 3mn housing program, VAT subsidy scheme and potentially lower interest rates should help stimulate property demand ahead; severe market underperformance may present trading opportunities for investors
Threat
Potential delays on the implementation of the government’s 3mn housing program coupled with weak purchasing power and higher for longer USD trend, may cause weaker-than-expected earnings and persistent market underperformance ahead
Samuel Sekuritas Indonesia is a leading Indonesian securities brokerage firm. Established in 1997, the firm has grown to become one of the most respected and trusted financial services companies in the country. With a wide range of services and products, Samuel Sekuritas Indonesia has become a trusted partner to many investors, both institutional and individual.
The company offers a variety of financial services, including equity, debt and derivative securities brokerage services, research and portfolio management, asset management and capital market services, as well as a range of other investment solutions. Samuel Sekuritas Indonesia is also a leader in providing financial education and training, and has established itself as a leading provider of investor relations services.
The company has a strong research capability and is committed to providing its clients with up-to-date and reliable market analysis and recommendations. It also has a team of experienced and knowledgeable professionals who are dedicated to providing quality service to its clients. As a result, Samuel Sekuritas Indonesia has become a preferred partner for many investors in Indonesia.
In addition to its financial services, Samuel Sekuritas Indonesia also offers a range of other services, such as corporate finance and advisory services, mergers and acquisitions, and venture capital.
