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Strength
The acquisition of Semen Grobogan in 1Q24 lifted 2Q24 sales volume to 4.0mn tons (+12.6% YoY) which led to higher 2Q24 revenue of IDR 4.0tn (+8.5% YoY)
Opportunity
Drier weather and post holiday season may lead to greater demand in 3Q24; Further YTD market underperformance may allow for trading opportunities
Weakness
Weak 2Q24 top-line performance combined high opex due to higher salary expenses led to EPS decline of -17.4% QoQ and -39.9% YoY, hampering margins and resulting in disappointing 2Q24 earnings
Threat
Intensifying competition from the Chinese players may trigger another price war and prolonged down-trading; Geopolitical tension may result in higher coal prices (44.9% of COGS) and transportation cost (60.1% of OPEX)
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.
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