Thanks To Electricity Sales Reaching IDR150.6 Trillion, PLN Prints IDR17.4 Trillion Net Profit In Six Months

JAKARTA - PT PLN (Persero) recorded a net profit of IDR 17.4 trillion during the first half of this year despite the global economic uncertainty. The financial information is based on the Consolidated Financial Statements of PLN Semester I-2022 (unaudited) which was published on July 26, 2022.

PLN President Director Darmawan Prasodjo said the net profit rose 162.4 percent when compared to the same period last year which was only recorded at Rp. 6.6 trillion.

"This (increase in net profit) is the sweet fruit of the various strategies and transformation steps that we have carried out," Darmawan said in a statement quoted by Antara, Friday, July 29.

In the first semester of 2022, PLN recorded an increase in electricity sales volume of 133.87 terawatt hours (TWh). The sales figure increased from the same period the previous year of 125.49 TWh. Darmawan explained that the increase in electricity sales was supported by significant growth in industrial customers with the addition of electricity sales volume of 5.4 TWh or 14.3 percent until the end of June 2022. "Significant electricity sales from this industrial group indicate that the economy is starting to recover in the midst of the pandemic," he said.

Darmawan revealed that PLN recorded sales of electricity worth Rp. 150.6 trillion, an increase of 7.2 percent or an increase of Rp. 10.1 trillion due to the increase in electricity sales.

He added that the growth in electricity sales performance is a representation of the success of the programs carried out by the company, including the acquisition of captive power, increasing renewable energy certificates (REC), conversion of LPG stoves to induction cookers, electrifying marine, and electrifying agriculture which encourage additional customers. 1.4 million until June 2022.

"Currently, PLN serves up to 83.9 million customers," said Darmawan.

On the other hand, EBITDA was successfully maintained at a positive Rp55.4 trillion and an EBITDA margin of 26.2 percent amidst the decline in the rupiah exchange rate against major foreign currencies that affected the company's operations.

"Of course this achievement cannot be separated from the hard work of PLN personnel, support from the government and stakeholders as well as all customers. We continue to be dedicated to providing the best service to all Indonesian people," said Darmawan.