Pertamina Ranks Third In The Fortune 500 Southeast Asia 2024 List

Pertamina Vice President Corporate Communication Fadjar Djoko Santoso gave a statement at the Pertamina Group RAFI Task Force (photo: dock. between)

Jakarta - PT Pertamina (Persero) managed to rank third best on the Fortune 500 Southeast Asia list in 2024. This achievement reflects the company's positive performance in various business lines, in line with the strategy and innovation programs being carried out.

"Pertamina has recorded positive performance in various business lines in line with the strategy and innovation programs being carried out, especially in facing business challenges that are full of dynamics today," said Pertamina's Vice President Corporate Communication, Fadjar Djoko Santoso, in a written statement received in Jakarta, Tuesday, June 18.

According to Fadjar, Pertamina's success in achieving the third largest position in Southeast Asia shows that the company's performance continues to grow along with the expertise of its business strategy. Pertamina is now very much taken into account in the global and regional arenas.

Fortune, in its publication released on Tuesday, stated that Southeast Asia has a major role in the world economy after the COVID-19 pandemic. However, companies in the region are heavily affected by global dynamics such as geopolitical conflicts and market uncertainty, which causes many companies to experience a decline in revenue.

Meskipun demikian, lima perusahaan terbesar di Asia Tenggara, termasuk Pertamina, tetap menghasilkan pendapatan terbesar di kawasan meskipun pendapatannya terkoreksi. Fadjar mengakui bahwa kinerja Pertamina pada tahun 2023 tetap tumbuh, yang ditunjukkan dengan peningkatan laba bersih sebesar 17 persen pada akhir tahun 2023, dengan total laba mencapai 4,77 miliar dolar AS atau setara Rp72,7 triliun (assuming an exchange rate Rp15,255 per dolar AS).

EBITDA (income before interest, tax, depreciation, and amortization) reached 14.36 billion US dollars, while consolidated revenue in 2023 was 75.79 billion US dollars. This performance growth was also marked by investment rating from various international rating agencies that established Pertamina as a company with investment-worthy status.

Fadjar added that Pertamina's operational performance is increasingly efficient in all lines, both holding and subholding, through a cost optimization program with a contribution of around 1.1 billion US dollars. Operationally, performance in all subholdings has also increased.

"With the support of all stakeholders, Pertamina will continue to grow to become the leading national company in maintaining energy resilience and independence in Indonesia," said Fadjar.

Pertamina's success in achieving third place in Southeast Asia's Fortune 500 list reflects the company's dedication to maintaining and improving performance, as well as establishing its position as a major player in the energy industry in the region and globally.