Surya Esa Perkasa's Profit JUMPed 893 Percent To Rp2.11 Trillion In 2022

Illustration of Rupiah (Photo: Doc. Antara)

JAKARTA - PT Surya Esa Perkasa Tbk (ESSA) recorded a net profit of US$ 139 million or Rp. 2.11 trillion (Rp. 15,159 per US dollar). This amount shot up 893 percent compared to 2021 which amounted to 14 million US dollars or Rp. 212.23 billion.

The profit was supported by the company's revenue which reached 731 million US dollars throughout 2022, or shot up 141 percent from the previous 303 million US dollars in 2021, or was the record highest revenue in the company's history.

ESSA President Director Chander Vinod Laroya said the revenue record was in line with good operations and favorable market conditions throughout 2022, which global commodity markets continued to increase amid geopolitical situations.

ESSA telah memanfaatkan kas yang lebih tinggi yang dihasilkan untuk pengurangan jumlah utang, yang mengarah ke neraca yang jauh lebih kuat. Lebih lanjut, kami juga membagikan dividend pada 2022 untuk pertama kalinya sejak penawaran umum perdana kami pada 2012," ujar Chander mengutip Antara, Senin, 20 Februari.

Furthermore, the issuer, which is engaged in the energy and chemical sector through the LPG Refinery and the Amongiak Factory, recorded EBITDA of US$354 million, or an increase of 161 percent from the previous US$135 million in 2021.

Meanwhile, the price of ESSA ammonia realization jumped 91 percent yoy to $887 per metric ton (MT), and ammonia production also increased 34 percent yoy to 760,815 MT, which created record revenue in the Amongiak business which contributed 93 percent to ESSA's revenue in 2022.

With strong cash flow, ESSA's debt was significantly reduced by 43 percent to 278 million US dollars at the end of December 2022, compared to the previous 487 million in 2021, with a debt-to-equity ratio now at 0.5 times.

Chander said the company will focus on ESG starting with the Blue mainstayia project which is being widely explored to be used as a cleaner alternative fuel.

The company's Amongiak Factory has received a Green PROPER award from the Ministry of Environment and Forestry (KLHK),

"In the future, we remain optimistic about the opportunities for new growth in the gas-hilir industry to provide greater value for shareholders by developing more business." Chander said.