Pertamina Earns IDR 72 Trillion Profit Throughout 2023, President Director Nicke Disseminates The Motivater Factor

JAKARTA - Throughout 2023, PT Pertamina (Persero) recorded a total profit of US$4.77 billion or around Rp. 72.7 trillion (assuming an exchange rate of Rp. 15,255). The profit gain rose 17 percent compared to profit in 2022.

Pertamina's positive financial performance is also seen in EBITDA or pre-interest income, taxes, depreciation, and amortization of 14.36 billion US dollars. This figure is up 6 percent compared to EBITDA in 2022. Meanwhile, consolidated revenue in 2023 is 75.79 billion US dollars.

President Director of PT Pertamina (Persero) Nicke Widyawati explained that since the organizational restructuring, Pertamina's consolidated financial performance trend has been positive and continues to increase from year to year. On the other hand, operational performance in all lines, both holding and subholding, is also getting more solid and reliable.

Pertamina managed to manage its operations to maintain profit growth. Financial performance in 2023 increased compared to 2022 due to efficiency management, cost optimization, liabilities, and compensation payments," said Nicke, Thursday, June 13.

According to Nicke, the restructuring of subholding holdings has still succeeded in prioritizing the role of active collaboration through orchestration of a number of strategic initiatives in the financial sector. In addition to carrying out cost optimization, interest cost savings efforts, foreign exchange hedge transaction strategies, interest rates, and commodities, as well as efforts to mitigate the risk of foreign exchange and credit have succeeded in preventing potential losses and creating contributions of around 1.1 billion US dollars.

Pertamina's positive financial performance, he added, is also inseparable from the Government's support as reflected in the payment of price compensation during 2023, reaching IDR 119.31 trillion (out of tax).

"We really appreciate the Government which continues to support Pertamina consistently through regulatory revisions that allow faster payments, product price adjustments, and budget increases," he added.

Not only from the financial aspect, Pertamina's operational performance supported by 6 (six) Subholding and its subsidiaries also grew.

Pertamina's Vice President of Corporate Communication Fadjar Djoko Santoso added, Pertamina overcomes various challenges in 2023 with various efforts, as a form of Pertamina's commitment to maintaining the company's performance both operationally and financially while maintaining national energy security.

"With the support of all stakeholders, Pertamina is able to achieve growing performance in 2023. In 2024, we will continue to strive to maintain positive performance and provide benefits for the community," concluded Fadjar.