Top 30 Indonesian Ceramic Public Companies Q3 2025 Revenue & Performance

1) Overall companies performance (Q3 2025 snapshot)
PT Arwana Citramulia Tbk (ARNA)
PT Cahayaputra Asa Keramik Tbk (CAKK)
PT Intikeramik Alamasri Industri Tbk (IKAI)
PT Keramika Indonesia Assosiasi Tbk (KIAS)
PT Mulia Industrindo Tbk (MLIA)
PT Asahimas Flat Glass Tbk (AMFG) (glass & ceramic-adjacent)
PT Niro Ceramic Nasional Indonesia
PT Eleganza Tile Indonesia
PT Roman Ceramic International
PT Platinum Ceramics Industry
PT Granito (Citra Granito)
PT Diamond Keramik Indonesia
PT Indogress (Inti Keramik Sejahtera)
PT Indopenta Sakti Teguh
PT Sun Power Ceramics
PT Satyaraya Keramindo Indah (SRK)
PT Candra Jaya Surya
PT Royalboard Ceramics
PT Sandimas Intimitra
PT Terracotta Indonesia
PT Muliakeramik Industri Indah
PT Gemilang Mitra Sejahtera
PT Jui Shin Indonesia
PT Satya Langgeng Sentosa
PT Pusaka Marmer Indahraya (Pumarin)
PT Golden Stone Indonesia
PT Kuda Laut Mas (Mass Group)
PT Mark Dynamics Indonesia Tbk (components & related ceramics)
PT Satya Langgeng Sentosa
Royalboard Ceramics

2) Revenue results of major public companies in Indonesia summarized (per company)
PT Arwana Citramulia Tbk (ARNA) - Earnings (9M 2025): Revenue ~Rp 2,173.9 billion (~USD 130.2 M) and Net Profit ~Rp 302.1 billion (~USD 18.1 M) maintained solid profitability and margins despite rising production costs. ARNAs strong performance reflects continued domestic demand and strategic product innovation.
PT Cahayaputra Asa Keramik Tbk (CAKK) - Earnings (Q3 2025): 9M revenue ~Rp 238.9 billion (~USD 14.3 M) with a net loss of ~Rp 30.2 billion (~USD 1.8 M). While revenue grew year-on-year, CAKK continued to record structural net losses due to cost pressure and narrow margins.
PT Intikeramik Alamasri Industri Tbk (IKAI) - Available industry data notes Q3 revenues around ~Rp 71.9 billion (~USD 4.3 M) and recent quarter-on-quarter growth (~+71 % base comparison), signaling improving sales momentum. While full profitability figures arent publicly detailed, this suggests a potential return toward break-even.
PT Keramika Indonesia Assosiasi Tbk (KIAS) - Earnings (Q3 2025): Revenue ~Rp 143.6 billion (~USD 8.6 M TTM) with a net loss ~Rp 15.4 billion (~USD 0.9 M). KIAS continued to operate at a loss, reflecting competitive pressures and margin contraction in finished ceramic goods.
PT Mulia Industrindo Tbk (MLIA) (Ceramic tiles & glass) - MLIAs broader manufacturing (tiles/glass) typically shows stable demand. Financial performance has been shaped by global price cycles and input costs rather than strong profit growth.
PT Surya Toto Indonesia Tbk (TOTO) (Ceramic tiles & sanitaryware) - TOTO generally benefits from sanitaryware demand and maintains revenue tied to domestic construction cycles.
PT Mark Dynamics Indonesia Tbk (MARK) - While primarily known for porcelain and ceramic-related components. MARKs performance is influenced by broader industrial demand rather than pure tile revenue reporting.
PT Asahimas Flat Glass Tbk (AMFG) (Glass/ceramic adjacent) - Glass market participants like AMFG reported stable demand but margin pressure due to higher energy costs although not pure ceramics, AMFGs results impact the ceramic & building materials value chain.
Platinum Ceramics Industry & Roman Ceramic International - These companies are recognized industry players in tile manufacturing.
PT Granito (Citra Granito) & Diamond Keramik Indonesia - These ceramic producers are key market participants. their revenue performance generally tracks industry trends of moderate sales and tight margins.
3) Key trends & insights from Q3 2025
Revenue Growth vs. Profitability - Many ceramic producers reported top-line growth but struggled to convert sales into net profits, especially among smaller manufacturers.
Elevated Input Costs - Energy expenses and gas prices, critical for ceramic kiln operations, remained elevated, squeezing margins throughout Q3.
Competitive Pricing - Competitive dynamics in domestic markets kept pricing elastic, limiting the ability to pass cost increases to customers.
Capacity Utilization - Utilization rates improved from 2024 but are still below peak levels, restricting profitability and scaling benefits.
Domestic Demand & Export Balance - Domestic construction needs remain a core demand driver, while export markets, though promising, add cost and distribution challenges.
4) Outlook for Q4 2025 and beyond
Growth Drivers - Infrastructure and housing development are expected to sustain tile and ceramic demand into year-end and early 2026. Strategic capacity expansions and targeted product diversification (e.g., premium tiles) could enhance earnings.
Risks - Energy price volatility, particularly gas, remains the biggest operational risk. Pressure from imported ceramic goods could further compress local pricing power.
Strategic Priorities - Lean manufacturing, efficiency programs, and digital sales channels will be critical enablers of earnings improvement into 2026
5) Conclusion
As of Q3 2025, Indonesias ceramic industry demonstrates revenue resilience against a backdrop of profitability challenges. Key takeaways include:
Large players like ARNA remain profitable and maintain scale, though growth margins are compressing.
Mid and smaller ceramic firms face net losses or thin margins, evidencing competitive pressures and cost volatility.
Domestic demand remains the linchpin for stable revenue, while export strategies remain nascent for many mid-caps.
Forward guidance suggests cautious optimism: operational efficiencies and selective market expansion could lift earnings into Q4 2025 and early 2026 but risks from input cost volatility and pricing competition will persist.

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