JAKARTA - PLN Primary Indonesia Subholding (PLN EPI) recorded revenue of IDR 41.91 trillion in 2024 or grew 107 percent compared to 2023.
President Director of PLN EPI Rakhmad Dewanto explained that revenue growth in 2024 was supported by a significant increase in gas sales and the contribution of Beyond KWh's business from subsidiaries, such as transportation and coal trading. This achievement also reflects an increasingly mature and adaptive business transformation towards the challenges of the energy sector.
This positive performance is the result of our consistency in strengthening business fundamentals. In addition to gas sales that continue to grow, the contribution of revenue from the beyond kWh business is also increasingly significant. This shows that PLN EPI no longer only relies on supply volume, but also on added value from primary energy services", said Rakhmad, quoted Thursday, July 10.
He continued, the achievement of EBITDA PLN EPI throughout 2024 also showed solid growth. It was recorded that EBITDA was IDR 3.64 trillion, up almost three times compared to the achievement in 2022 of IDR 1.35 trillion. When compared to 2023, EBITDA grew about 50 percent from IDR 2.42 trillion.
Meanwhile, the company's net profit managed to reach IDR 2.24 trillion, growing 54 percent compared to the previous year which was recorded at IDR 1.45 trillion. This increase in profit was mainly driven by the realization of operating income that exceeded the target and cost efficiency in providing primary energy.
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"We continue to optimize costs thoroughly, especially on the logistics side and energy supply. This is one of the keys for us to maintain profitability without sacrificing supply reliability", added Rakhmad Dewanto.
The business contribution beyond PLN EPI also continues to increase. In 2024, the contribution from this line reached IDR 6.11 trillion, growing 20 percent compared to 2023 of IDR 5.08 trillion. This growth stems from the increase in the volume of coal sales and coal transportation services.
With a solid growth trend in almost all business lines, PLN EPI affirms its commitment to continue to be the backbone of the national energy transition.
"We are ready to support strengthening the national energy system, not only through gas and coal supply, but also the development of biomass, LNG, to the integration of supplies for clean energy-based power plants", concluded Rakhmad.
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