Reaching Highest Revenue, Pertamina Books Profit Of 3.81 Billion US Dollars

Pertamina President Director Nicke Widyawati (Photo: Doc. ANTARA)

PT Pertamina (Persero) managed to score the highest revenue in the history of the Company's establishment by posting a net profit of US$3.81 billion or equivalent to Rp56.61 trillion in 2022.

Pertamina President Director Nicke Widyawati said this achievement marked an 86 percent increase compared to net profit in 2021 which was recorded at 84.89 billion US dollars or equivalent to Rp1,262.34 trillion.

"In 2022 we can close with the highest performance in Pertamina's history, we posted a profit of 3.81 billion US dollars equivalent to Rp56.61 trillion, revenue increased 48 percent to 85 billion US dollars, so this is about a third of the state budget," Nicke said as quoted by Antara, Tuesday, June 6.

Nicke explained that Pertamina's overall revenue was 84.89 billion US dollars or equivalent to Rp1,262.34 trillion.

As for Revenue Before Interest, Tax, Depreciation and Amortization or EBITDA amounting to 13.59 billion US dollars or equivalent to Rp202.14 trillion.

EBITDA Perseroan mengalami kenaikan sebesar 47 persen secara tahunan (yoy).

Nicke emphasized that this achievement was not caused by a coincidence or the impact of the surge in Indonesian crude oil or ICP price commodities, but because of the contribution factors of staff and cost effectiveness (cost).

"Some say, oh, this is because of the binding because of the ICP, if you say that the exchange rate is high, we have also experienced high exchange rates in several years. We have also had ICPs above 100, but this achievement is not the case, if we look at those who make the most contribution, actually cost, if we look at it, percent of the costs in 2012, 2014 is around 93-94 percent, but in 2022 there will only be 89 percent savings of 4 percent to 5 percent," said Nicke.