Publication<\/a><\/p>\n[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][vc_column width=”3\/4″][vc_row_inner][vc_column_inner el_class=”buttonmod” width=”1\/2″ css=”.vc_custom_1612339018884{margin-right: 0px !important;border-right-width: 0px !important;}”][vc_btn title=”Yearly” style=”classic” shape=”square” color=”chino” link=”url:%2Finvestor-financial-highlights%2F|||”][vc_btn title=”Quarterly” style=”classic” shape=”square” color=”default” link=”url:%2Finvestor-financial-highlights-quarterly%2F|||”][\/vc_column_inner][vc_column_inner width=”1\/2″ css=”.vc_custom_1612338794094{margin-left: 0px !important;border-left-width: 0px !important;}”][\/vc_column_inner][vc_column_inner][vc_separator][\/vc_column_inner][\/vc_row_inner][vc_column_text]<\/p>\n
2026 (Q2)<\/h4>\n
[\/vc_column_text][vc_single_image image=”28102″ img_size=”full” alignment=”center” onclick=”link_image”][vc_row_inner][vc_column_inner width=”1\/2″][\/vc_column_inner][vc_column_inner width=”1\/2″][\/vc_column_inner][vc_column_inner][vc_column_text]Short Management Discussion and Analysis<\/u><\/strong><\/p>\nKey movements in Q2\/26<\/strong><\/p>\nY-on-Y highlights, Q2-2026 against Q2-2025:<\/strong><\/p>\n\n- Sales volume increased by 3%, driven by higher export sales. Export sales volume accounted for 16%, up from 12% of total sales in the prior year.<\/li>\n
- Sales revenue increased by 19%, primarily driven by increase in sales volume and higher average selling prices as the market strengthened.<\/li>\n
- Cost of Goods Sold increased by 6%, mainly due to inventory drawdown (higher sales vs. lower production), while underlying manufacturing costs per unit remained largely stable.<\/li>\n
- The value and margin of EBITDA increased, primarily driven by higher sales revenue.<\/li>\n
- Profit for the period increased, supported by higher EBITDA and EBITDA margin.<\/li>\n
- Total liabilities and debt decreased by 9% and 14%, respectively, primarily because of debt repayments.<\/li>\n
- Debt\/Equity improved by 11%, driven by a combination of equity growth and debt reduction.<\/li>\n<\/ul>\n
[\/vc_column_text][vc_column_text][\/vc_column_text][vc_column_text]Q-on-Q highlights, Q2-2026 against Q1-2026:<\/strong><\/p>\n\n- Sales volume increased by 12%, driven by higher domestic and export sales. Export sales volume accounted for 16%, up from 12% of total sales in the prior quarter.<\/li>\n
- Sales revenue increased by 23%, primarily driven by increase in sales volume and higher average selling prices as the market strengthened.<\/li>\n
- Cost of Goods Sold increased by 17%, mainly due to inventory movement normalization.<\/li>\n
- The value and margin of EBITDA increased, primarily driven by higher sales revenue.<\/li>\n
- Profit for the period increased, supported by higher EBITDA and EBITDA margin.<\/li>\n
- Total liabilities and debt both decreased by -0.1%, due to debt repayments.<\/li>\n
- Debt\/Equity remained stable compared to the prior quarter.<\/li>\n<\/ul>\n
[\/vc_column_text][vc_column_text][\/vc_column_text][vc_column_text]Y-on-Y highlights, H1-2026 against H1-2025:<\/strong><\/p>\n\n- Sales volume has decreased by 3%, driven by lower export sales. Domestic sales volume accounted for 86%, up from the prior year’s 83% of total sales.<\/li>\n
- Sales revenue has increased by 8%, primarily driven by higher average selling prices amid a stronger market.<\/li>\n
- Cost of Goods Sold has decreased by 4%, from lower production volumes.<\/li>\n
- The value and margin of EBITDA increased, primarily driven by higher sales revenue.<\/li>\n
- Profit for the period increased, supported by higher EBITDA and EBITDA margin.<\/li>\n
- Total liabilities and debt decreased by 9% and 14%, respectively, primarily because of debt repayments.<\/li>\n
- Debt\/Equity improved by 11%, driven by a combination of equity growth and debt reduction.<\/li>\n<\/ul>\n
[\/vc_column_text][vc_column_text][\/vc_column_text][vc_column_text]Notes:<\/strong><\/p>\n– On 30 June 2026, the Total Debt of IDR 4,518 billion consisted of around USD 18 million and IDR 4,196 billion.
\n– \u00a0Average cost of debt (pre-tax, trailing-twelve months) has slightly decreased in Q2-2026 from the previous quarter, from 6.4% (Q1\/26) to 6.2% (Q2\/26), reflecting proactive management and optimization of the debt structure.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_column_text][\/vc_column_text][vc_column_text]<\/p>\n
2026<\/h4>\n
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