Just Acquired By Pertamina June, CREC Books Revenue Of IDR 755.4 Billion

JAKARTA - An energy company from the Philippines that was just acquired by Pertamina New & Renewable Energy (Pertamina NRE) on June 18, 2025, Citicore Renewable Energy Corporation (CREC) posted an increase in revenue of up to 28 percent in Semester I-2025.

Pertamina NRE CEO John Anis emphasized that the positive financial performance further convinced Pertamina NRE's investment in CREC was the right decision. For information, Pertamina narrowed 20 percent of CREC's shares.

The achievement shows the CREC as a company that is not only healthy but also has high competitiveness and great business growth potential. We increasingly believe that we have made the right investment decision by acquiring 20 percent of CREC's shares last June," said John, Tuesday, August 19.

In the first semester of this year, CREC recorded revenue of 2.66 billion Peso Philippines or around IDR 755.44 billion.

This figure increased 28 percent compared to revenue in the same period last year. Likewise, EBITDA was 22 percent, which was recorded at 932 million Peso Philippines or around Rp264.69 billion.

Meanwhile, net profit reached 630 million Peso Philippines or around IDR 178.92 billion, or an increase of 38 percent. This positive growth was contributed mainly from the increase in electricity sales, where CREC is an attractive choice for industrial consumers in the Philippines.

Pertamina NRE's investment in CREC on June 18 was also positively welcomed by the Philippine capital market.

Hal ini ditunjukkan melalui harga saham CREC: dibuka pada awal tahun 2025 di angka 3,24 Peso Filipina atau sekitar Rp920,16 per lembar saham, lalu di akhir Juni 2025 naik ke 4,01 Peso FIlipina atau sekitar Rp1.139 per lembar saham. Dan pada penutupan pasar Jumat 15 Agustus lalu menyentuh angka 4,21 Peso FIlipina atau sekitar Rp1.195 per lembar saham, atau meningkat 30 persen sejak awal tahun 2025.

CREC berkomitmen untuk mencapai target penambahan kapasitas terpasang sebesar 5 gigawatt (GW) dalam 5 tahun, di mana tahun ini akan mencapai 1 GW pertama.

Investasi Pertamina NRE di CREC turut menambah kapasitas terpasang energi terbarukan hingga 2.842 megawatt (MW) di semester I tahun ini, atau meningkat 14 persen dari periode yang sama tahun lalu.

"Melalui kerja sama strategisnya dengan Pertamina NRE, CREC juga memiliki akses untuk melakukan investasi bersama di sektor energi terbarukan di Indonesia." tandas John.

This is shown through the stock price of CREC: opened in early 2025 at 3.24 Peso Philippines or around Rp920.16 per share, then at the end of June 2025 it rose to 4.01 Peso Flipina or around Rp1,139 per share. And at the close of the market last Friday 15 August it touched 4.21 Peso Flipina or around Rp1,195 per share, or an increase of 30 percent since the beginning of 2025.

CREC is committed to achieving the target of adding a 5 gigawatt (GW) installed capacity in 5 years, where this year it will reach the first 1 GW.

Pertamina NRE's investment in CREC also adds to the capacity of renewable energy installed up to 2,842 megawatts (MW) in the first semester of this year, or an increase of 14 percent from the same period last year.

"Through its strategic cooperation with Pertamina NRE, CREC also has access to joint investment in the renewable energy sector in Indonesia." said John.