Maintaining Positive Performance for Three Consecutive Years, SIG Wins the Bisnis Indonesia Award 2023

SIG's consistency in maintaining performance growth has been appreciated at the Bisnis Indonesia Award (BIA) 2023 with the attainment of the Non-Bank Issuer Category, Construction Material Sector award organized by Bisnis Indonesia Group. The award was presented by Bisnis Indonesia Commissioner Dorothea Samola to SIG's Corporate Secretary, Vita Mahreyni, at the JW Marriott Hotel, Jakarta, on Wednesday (31/5).

The BIA 2023 is an awards event organized by Bisnis Indonesia for business actors (issuers and non-issuers) in Indonesia. The BIA 2023 sets the theme "Growing in the New Era" as an appreciation to the business world that has been able to maintain positive growth during a three-year period while actively seeking opportunities to improve their company's performance during the COVID-19 pandemic and being ready to welcome the post-pandemic new era.

SIG's Corporate Secretary, Vita Mahreyni, said this award is an appreciation of SIG's ability to maintain positive performance growth during a challenging three-year period, especially during the COVID-19 pandemic and increasing energy costs. Vita views this award as a motivation booster to continue innovating in presenting quality and environmentally friendly products, as well as the application of Good Corporate Governance (GCG).

"The success of SIG in recording positive performance cannot be separated from several strategic initiatives that have been implemented, starting from efforts to secure the sales and revenue sector, promote efficiency through operational excellence improvement, optimize investment structure in subsidiaries, and practice good financial management," said Vita Mahreyni.

In 2022, SIG successfully recorded a net profit increase of 15.5% to IDR 2.365 trillion compared to the same period in 2021, which was IDR 2.047 trillion. SIG demonstrated resilience not only from business achievements but also from sustainable operations. In the same year, SIG also successfully reduced carbon emission intensity to 590 kg CO2/ton of cement equivalent, or down 16.67% from the 2010 baseline of 708 kg CO2/ton of cement equivalent. The reduction in clinker factor reached 69.2%, and the increase in thermal substitution rate (TSR) reached 7.2%.

Generally, the selection of the BIA 2023 jury consists of two stages, namely quantitative and qualitative selection. Before measuring financial performance, all companies in each category, whether issuers, banks, or securities companies, must first meet various selection criteria set by the Bisnis Indonesia Resources Center (BIRC).

Financial performance calculation is based on several indicators, such as performance growth and performance ratio. For performance growth, the measured variables are net profit, total assets, equity, revenue, and cash and cash equivalents. His performance is observed in the company's financial reports for the periods Q3/2022 and Q3/2021.

Meanwhile, the performance ratio consists of Net Income against Liabilities, Cash and Cash Equivalents against Current Liabilities, Net Income against Revenue, Net Income against Equity (ROE), and Operating Cash Flow against Revenue. The performance is also evaluated from the company's financial report publications for the periods Q4/2022, Q4/2021, and Q4/2020.

Meanwhile, qualitative selection, among others, considers issuers that have been listed on the exchange for at least 3 years, sustainability reports, risk management, the condition of the industry in each sector or sub-sector, competition, news, corporate actions, innovation, as well as various other criteria according to the consideration of the jury board.