Consistent Growth, Elnusa Shares Touch The Highest Level In The Last 5 Years

Illustration: Photo: Doc. ANTARA

JAKARTA A subsidiary of PT Pertamina Hulu Energi who is a member of Pertamina's Upstream Subholding, PT Elnusa Tbk (ELSA) recorded a solid share performance in the last five years.

From 2021 to July 2025 is an important momentum for ELSA, with a consistent trend of stock price growth and market capitalization, despite being in the midst of fluctuating capital market dynamics.

At the end of 2021, ELSA's shares were closed at the level of IDR 276 per share, well below the 2008 IPO price of IDR 400 after years of being in an undervalued position.

Entering 2022, a positive trend began to form with an increase in prices to Rp312 or grew 13 percent compared to the previous year.

This performance continues in 2023, with the share price rising to IDR 388 or growing 24 percent, followed by an increase in market capitalization from IDR 2.28 trillion to IDR 2.83 trillion.

2024 is one of the important moments, where ELSA's share price touched its highest level at IDR 545 in June 2024, with market capitalization reaching IDR 3.46 trillion.

This positive trend continues in 2025, where in July 2025, the share price again set a new record at IDR 550 per share, the highest price in the last eight years.

Elnusa Finance Director Stanley Iriawan expressed his appreciation for market confidence in ELSA and positive stock performance in the last five years reflects a good market response to the company's growth strategy and fundamental strengthening.

"We continue to strive to maintain a healthy capital structure, optimize operational performance, and manage risks responsibly to maintain investor confidence," Stanley said in his statement, Thursday, August 14.

Stanley added that his party understands that the capital market is very dynamic, so that the success of maintaining this positive trend is the result of the cooperation of all teams in Elnusa in maintaining the discipline of implementing business strategies, efficiency, and service innovation.

He conveyed that in the future, his party will continue to focus on strengthening competitiveness and creating sustainable added value for all stakeholders, including shareholders.

In addition, Stanley said Elnusa consistently increased synergy within SOEs to expand business opportunities, strengthen strategic cooperation, and create efficiency in supply chains.

He added that the company is also optimizing capital expenditures (capex) to support the vision and mission as a service company in the energy sector, both within Pertamina and outside Pertamina.

In terms of funding, Stanley said Elnusa received stronger capital support from the banking sector, reflecting the level of financial institution confidence in the company's performance and business prospects.

Elnusa also continues to strengthen the digitalization system in line with technological developments, in order to improve operational efficiency, data accuracy, and service quality for customers.

According to him, this achievement reflects market optimism for Elnusa's sustainable performance, thanks to an adaptive business strategy, prudent risk management, and solid operational execution.

"This consistency makes ELSA's shares remain attractive in the eyes of investors, as well as strengthens the Company's position as an integrated energy service issuer that has long-term prospects," he concluded.