AGMS Holds, Pertamina Geothermal Energy Distributes USD 100 Million Dividend

JAKARTA - PT Pertamina Geothermal Energy Tbk. (PGE) has held the 2022 Annual General Meeting of Shareholders (AGMS). Shareholders approved the use of a net profit for dividends of 100 million US dollars or Rp. 1.5 trillion (assuming an exchange rate per dollar of Rp. 14,870).

At the AGMS which was held on Monday, June 5 yesterday, PGEO's shareholders agreed to a retained profit of 27.32 million US dollars.

The total dividend includes an interim dividend of 70 million US dollars which has been paid on January 27, 2023 and an additional dividend of 30 million US dollars which will be given to shareholders according to their share of ownership on the date of recording.

The AGMS also announced that as of 2022 the Company managed to record a positive performance. This is evidenced by an increase in net profit of 49.68 percent YoY (year on year) recorded by the Company, to 127.32 million US dollars.

President Director of PT Pertamina Geothermal Energy Tbk. Ahmad Yuniarto expressed his gratitude for the trust of shareholders of PT Pertamina Geothermal Energy Tbk.

This positive achievement is a reference for us to continue to grow and develop, especially in maintaining the trust given by all PGE stakeholders. As the largest geothermal company in Indonesia, we will continue to be committed to providing access to reliable and affordable clean and environmentally friendly energy," he said in an official statement, Tuesday, June 6.

Meanwhile, the Finance Director of PT Pertamina Geothermal Energy Tbk. Nelwin Aldriansyah said that currently the Company is in a very good financial condition.

He said, operating revenue in 2022 also increased 4.68 percent or 386.07 million US dollars and recorded steam and geothermal electricity production of 4,629.6 GWh. From the sustainability aspect, the Company managed to avoid emissions of 3.87 million tons of CO2.

"The results of this AGMS increase our optimism for the Company's growth positively and consistently. In the future, the Company will continue to be committed to developing and maintaining business growth and developing green energy potential in Indonesia," he said.

Reshuffle Management

The Company also submitted a Realization Report on the Use of IPO Funds, namely for investment in additional capacity development from the Company's Operational Geothermal Working Area (WKP) which is currently being carried out through conventional development and utilization of co-generation technology.

Then, investment in the development of digital, analytic, and reservoir management capabilities to support the Company's operations, as well as payments for part of the Company's facilities agreement.

Another decision in this AGMS is to replace the company's management. The change of position was made in the position of Independent Commissioner from Samsul Hidayat to Sujit S. Parhar, President Director of Ahmad Yuniarto to Julfi Hadi, Director of Operations from Eko Agung Bramantyo to Ahmad Yani. In addition, at this AGMS also appointed Dannif Danusaputro as Commissioner.

So the membership composition of the Board of Directors and Board of Commissioners of PT Pertamina Geothermal Energy Tbk. is as follows:

Composition Of Commissioners

President Commissioner/Independent: Sarman Simanjorang

Independent Commissioner: Sujit S. Parhar

Commissioner: Dannif Danusaputro

Commissioner: Harris

Board of Directors

President Director: Julfi Hadi

Director of Exploration and Development: Rachmat Hidajat

Director of Operations: Ahmad Yani

Finance Director: Nelwin Aldriansyah.