PLN Pockets IDR 22 Trillion Profit Throughout 2023

JAKARTA - PT PLN (Persero) managed to record the largest profit in the company's history by achieving a net profit of IDR 22.07 trillion in 2023.

This value is one and a half times from the 2022 score as well as scoring a net profit record hattrick for three consecutive years since 2021.

PLN President Director, Darmawan Prasodjo said, PLN's 2023 net profit was generated from the company's total operating income which reached Rp487.38 trillion, an increase of Rp46.25 trillion from 2022. Not quite there, PLN also succeeded in reducing long-term and short-term debt by Rp12.77 trillion.

"This positive score is proof that PLN is not only able to plan transformation at the level of strategy, but is also able to execute it at the operational level," Darmawan explained, Wednesday, May 29.

Darmawan also said that PLN managed to record sales of electric power of 288.44 terrawat hour (TWh) or grew 5.36 percent from 2022.

This success cannot be separated from marketing innovations through an intensification program that includes additional power promotions, captive power acquisitions and electrifying lifestyle campaigns and extensification programs that include electrifying agriculture & marine, dedieselization and electric vehicle infrastructure.

Through these various innovations, PLN successfully achieved electricity sales revenue of IDR 333.19 trillion, an increase of IDR 22.13 trillion from 2022.

Darmawan also explained that the increase in revenue was achieved not only from the sale of electricity, but also from business development outside the electricity sector or beyond kWh.

Throughout 2023, Beyond KWh's business has successfully contributed significantly to revenues of IDR 10.27 trillion or one and a half times the realization in 2022. This beyond_kWh innovation includes the provision of primary energy for private power plants, telecommunication network services, electricity infrastructure maintenance services, equipment rental and electricity infrastructure, to electricity project study services for other business entities.

Then the company's cash balance achievement in 2023 which increased sharply to IDR 55.92 trillion and a long-term debt reduction of IDR 4.24 trillion and short-term debt of IDR 8.53 trillion. This performance was supported by various initiatives in the form of Productive Debt Management, liquidity control, to centralization and digitization of payments.

PLN is also able to cut response time in handling electricity disturbances experienced by customers from an average of 24 minutes in 2022 to 19 minutes in 2023. In line with this, users of the PLN Mobile application also continue to grow. Throughout 2023, the number of PLN Mobile downloaders reached 47 million, an increase of 8 million downloaders from 2022.