Melesat 976 Percent In Semester I 2022, Elnusa Kantaki Profit IDR 226 Billion

Illustration (Photo: Doc. Antara)

JAKARTA - A subsidiary of PT Pertamina Hulu Energi (PHE), PT Elnusa Tbk pocketed a net profit of IDR 226 billion in the first semester of 2022 or grew 976 percent from the same period in 2021.

Elnusa's Finance Director, Bachtiar Soeria Atmadja said, the realization of the net profit had exceeded the target set as well as a moment of improvement to the pressure that occurred at the beginning of the COVID-19 pandemic in 2020.

"The six months running in 2022, Elnusa consolidated that she recorded a fairly brilliant financial performance in all business segments, this is of course supported by the improvement in economic conditions in Indonesia and activities that have started to return to normal significantly," he said in an official statement, Friday, September 16.

Bachtiar continued, the net profit achievement was in line with operating income which increased 46 percent year on year (yoy) from Rp3.71 trillion to Rp5.42 trillion in the first semester of 2022.

The composition of contributions, namely for distribution services and energy logistics by 58 percent, the upstream oil and gas service segment by 33 percent, and supporting services by 9 percent.

"We project that in the remaining six months until the end of 2022 Elnusa's performance will be stronger, this is supported by increased upstream oil and gas service activities, especially in seismic and well services activities as well as an increase in fuel needs that have returned to normal, which has had quite a positive impact on the distribution service segment. & logistics energy," continued Bachtiar.

Bachtiar added that Elnusa's positive performance signal was also in line with Elnusa's increased share performance on June 30, 2022, which was IDR 304, an increase of 9 percent compared to December 31, 2021.

He detailed that the realization of the company's capital expenditure as of June 2022 which has been used is 34 percent of the allocation or Rp242 billion and most of it is used to maintain the capacity of the equipment.

As for the allocation plan, it is used based on the certainty of the market going forward and Elnusa remains committed to being ready to invest in supporting Jasa Hulu Migas and Jasa Distribution and Logistics Energy for future business sustainability.

"The company is also always committed to accelerating consistent, competitive, profitable and environmental growth, especially to support the government in realizing joint clean energy for a better future," he continued.

Through this commitment, he believes that Elnusa is able to play an active role in supporting the tasks of Subholding Upstream, Pertamina Group and other KKKS in realizing the national oil production target of 1 million barrels per day (BOPD) and natural gas 12 billion cubic feet per day (MMscfd) standards in 2030.