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The Comparison of Financial Performance and Sustainability Analysis of PT Holcim Indonesia Tbk with Other Cement Industries

Ray Samuel, Asep Darmansyah


Abstract. There is a major problem that has happened in cement industry which is oversupply cement products.This condition can lead these cement companies into bankruptcy. This research is aim to give a clear image of the condition of financial performance and sustainability condition PT Holcim Indonesia among its competitors on the cement industry and from this analysis it can be found what actually happened within and the management will need to increase the performance and fix aspect that is still lacking. The theory used in this research are financial ratios analysis and Altman Z-Score, in financial ratios analysis consist of profitability, liquidity, debt, and activity ratio analysis. Atman Z-Score is used to get the condition of the company whether it will go bankruptcy or not.There are PT. Holcim Indonesia and three other competitors to be conducted. After analysis, it can be concluded that financial performance of PT Holcim Indonesia is always below among those three competitors in cement industry and in Altman Z-Score, in 2015 PT Holcim Indonesia is the first cement company among those three competitors to reach bankruptcy status and the end of 2018 PT Holcim Indonesia got the lowest results of Altman Z-Score among those three.

Keywords: Cement industry, financial performance, sustainability analysis, financial ratios analysis, Altman Z-Score


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