Top 30 Indonesian Tiles Public Companies Q3 2025 Revenue & Performance

1) Overall companies performance (Q3 2025 snapshot)
PT Arwana Citramulia Tbk
PT Mulia Industrindo Tbk
PT Intikeramik Alamasri Industri Tbk
PT Surya Toto Indonesia Tbk
PT Keramika Indonesia Assosiasi Tbk
PT Platinum Wahab Nusantara Tbk
PT Cahayaputra Asa Keramik Tbk
PT Mark Dynamics Indonesia Tbk
PT Semen Indonesia Tbk
PT Indocement Tunggal Prakarsa Tbk
PT Wijaya Karya Bangunan Gedung Tbk
PT Waskita Beton Precast Tbk
PT Impack Pratama Industri Tbk
PT Asri Karya Lestari Tbk
PT Catur Sentosa Adiprana Tbk
PT Mitra10 Tbk
PT Superkrane Mitra Utama Tbk
PT Resource Alam Indonesia Tbk
PT Barito Pacific Tbk
PT Chandra Asri Pacific Tbk
PT AKR Corporindo Tbk
PT Jaya Pari Steel Tbk
PT Lionmesh Prima Tbk
PT Steel Pipe Industry of Indonesia Tbk
PT Gunung Raja Paksi Tbk
PT Krakatau Steel Tbk
PT Duta Pertiwi Nusantara Tbk
PT Solusi Bangun Indonesia Tbk
PT Hartadinata Abadi Tbk
PT Metrodata Electronics Tbk
2) Revenue results of major public companies in Indonesia summarized (per company)
1. PT Arwana Citramulia Tbk remained Indonesias strongest listed ceramic-tile producer in Q3 2025. Revenue for the first nine months of 2025 reached approximately IDR 2.17 trillion (around USD 136 million), rising 13.1% YoY. However, net profit declined 4.3% YoY to IDR 302.1 billion (around USD 19 million) as industrial gas, labor, and manufacturing costs increased sharply. Gross margin fell to 30.3% from 34.3% a year earlier. Despite margin pressure, Arwana maintained strong domestic market share and continued expanding production capacity.
2. PT Mulia Industrindo Tbk continued operating as one of Indonesias largest integrated ceramics and glass producers. During Q3 2025, the company benefited from improving architectural glass demand and recovery in commercial construction. Earnings were supported by operational efficiencies and renewable-energy initiatives, including one of Indonesias largest rooftop solar installations for industrial facilities. Market sentiment toward the company improved as investors viewed energy savings as a long-term margin stabilizer.
3. PT Surya Toto Indonesia Tbk recorded relatively resilient performance in Q3 2025 amid slower premium residential demand. The company maintained stable sanitaryware and ceramic-fittings sales due to strong brand recognition in the hospitality and high-end housing segments. Export exposure to regional Asian markets also supported revenue stability despite rupiah volatility.
4. PT Keramika Indonesia Assosiasi Tbk continued facing pricing competition from imported Chinese ceramic products. However, the company benefited from domestic renovation demand and maintained operational continuity through tighter inventory management. Investor focus remained centered on cost-control execution and energy efficiency.
5. PT Intikeramik Alamasri Industri Tbk Q3 2025 results reflected its diversified strategy combining ceramic operations with hospitality and property assets. The company focused on premium ceramic positioning while leveraging hotel-related recurring income streams to stabilize cash flow.
6. PT Platinum Wahab Nusantara Tbk benefited from continued growth in premium tile demand in large Indonesian urban centers. Product diversification toward polished porcelain and modern interior applications supported average selling prices during the quarter.
7. PT Cahayaputra Asa Keramik Tbk focused aggressively on maintaining factory utilization amid challenging industry conditions. The companys distribution network in secondary Indonesian cities remained a competitive advantage during Q3 2025.
8. PT Semen Indonesia Tbk remained strategically important to the ceramic ecosystem due to nationwide building-material distribution and infrastructure exposure. Q3 2025 performance was supported by public infrastructure spending and improving utilization rates.
9. PT Indocement Tunggal Prakarsa Tbk continued prioritizing efficiency improvements and logistics optimization in Q3 2025. Residential and infrastructure demand provided moderate support, though sector-wide competition continued pressuring pricing.
10. PT Impack Pratama Industri Tbk benefited from rising demand for modern construction finishing materials and premium renovation products. The companys exposure to housing renovation trends partially insulated it from broader industrial weakness.
3) Key trends & insights from Q3 2025
Rising industrial gas costs became the largest profitability challenge for Indonesian ceramic manufacturers during Q3 2025.
Mid-market ceramic producers significantly outperformed luxury-focused brands due to stronger affordable-housing demand.
Porcelain slabs and large-format premium tiles continued gaining market share in urban projects.
Domestic renovation demand remained healthier than new commercial-property construction.
Manufacturers increasingly invested in solar power and energy-efficiency systems to reduce long-term operating costs.
Imported Chinese ceramic products continued intensifying price competition in Indonesia.
Companies with strong nationwide distributor networks showed better resilience during the quarter.
Export growth remained relatively modest because of weak global construction activity.
Automation and kiln-efficiency upgrades became major capital-expenditure priorities.
ESG-focused manufacturing initiatives attracted growing institutional-investor attention.
4) Outlook for Q4 2025 and beyond
Indonesias ceramic tile industry is expected to see gradual demand improvement supported by infrastructure spending and residential construction recovery.
Margin recovery will largely depend on industrial gas-price normalization.
Affordable and mid-range ceramic products are expected to remain the fastest-growing segment through 2026.
Companies investing in renewable energy and automation are likely to outperform peers on profitability.
Premium porcelain and digitally printed tiles are expected to gain additional market share.
Export opportunities may improve if Southeast Asian construction activity strengthens in 2026.
Consolidation within Indonesias fragmented ceramic industry may accelerate.
Domestic manufacturers are expected to lobby for stronger protection against low-priced imports.
Producers with vertically integrated supply chains are expected to maintain stronger EBITDA margins.
Institutional investors are increasingly favoring companies with stronger balance sheets and lower energy intensity.
5) Conclusion
Indonesias tile and ceramic industry delivered a resilient but margin-challenged performance during Q3 2025. While construction demand remained relatively healthy, profitability across the sector was pressured by energy inflation, raw-material costs, and pricing competition. PT Arwana Citramulia Tbk remained the clearest market leader among listed ceramic companies, supported by strong distribution and scale advantages. Meanwhile, companies investing in energy efficiency, renewable power systems, automation, and premium product innovation appear best positioned for long-term growth. Looking into 2026, the Indonesian ceramic industry is expected to remain one of Southeast Asias most important construction-material sectors, supported by urbanization, infrastructure investment, and housing demand growth.

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