Record Net Profit Of IDR 1.7 Trillion In The First Quarter Of 2022, PGN Gas Subholding Pertamina Continues Positive Trend

Illustration. (Photo: Doc. Antara)

JAKARTA - As the Gas Subholding of PT Pertamina (Persero), PT Perusahaan Gas Negara Tbk (PGN) succeeded in continuing the positive operational performance trend in the first quarter of 2022 and had a positive impact on financial performance.

In the first quarter of 2022, PGN managed to record a net profit for the year attributable to the parent entity of 118.5 million US dollars (or Rp. 1.7 trillion, at an exchange rate of Rp. 14,345 per US dollar). Net profit came from revenues of 836.9 million US dollars.

From this revenue, PGN recorded a gross profit of 186.0 million US dollars, operating profit of 154.3 million US dollars and EBITDA of 313.4 million US dollars.

"Thank God, PGN has succeeded in continuing its positive 2022 performance. The recovery in operational performance from the economic recovery and the successful management of the government's pandemic has successfully supported PGN's financial performance until the first quarter of 2022. The performance of gas trading volume for the January - March 2022 period reached 915 BBTUD. As for the transmission volume in the first quarter 2022 is 1,325 MMSCFD," explained the President Director of PT PGN Tbk, M. Haryo Yunianto, in his statement, Thursday, April 28.

The increase in the volume of oil and gas lifting in the first quarter of 2022, increased to 25,557 BOEPD from 16,562 BOEPD as well as the high increase in ICP, which contributed significantly to the financial performance of the first quarter of 2022.

Meanwhile, oil transportation also showed a very significant increase in performance which reached 2.1 MMBOE compared to the same period the previous year which only reached 0.8 MMBOE. Likewise, the performance of LPG processing reached 139 tons per day, a significant increase compared to the previous year's period of 121 tons per day.

As of March 2022, PGN's total subscribers have reached 750,660, with details of 746,307 households, 2,446 industrial and commercial, and 1,907 small customers.

PGN, in its role as Sub Holding Gas, will continuously carry out operational and investment activities in order to create a multiplier effect on the national economy. In addition, PGN also focuses on developing environmentally friendly natural gas utilization during the energy transition to renewable energy.

"We play a quite challenging role in the era of the energy transition from fossil to NRE. With a key position as one of the natural gas aggregators in Indonesia, our hope is to be able to fill this transition period by providing natural gas as clean energy to the community," concluded Haryo. .