KONTAN.CO.ID - JAKARTA. PT Elnusa Tbk (ELSA), a subsidiary of PT Pertamina Hulu Energi (PHE) and part of the Pertamina Upstream Subholding, reported a steady business revenue of IDR 3.1 trillion in the first quarter of 2024, maintaining its performance from the previous year.

The company posted a gross profit of IDR 324 billion and a net profit of IDR 183 billion. ELSA's gross profit grew by 59% year on year (YoY), with a net profit margin increase of 61% compared to the same period last year.

The consolidated business revenue was contributed by the energy distribution & logistics services segment at 52%, the upstream energy services segment at 38%, and the energy support services at 10%.

This indicates an increase in business revenue, particularly in the upstream energy services, which rose by 22% compared to the same period. In addition to the revenue increase, the upstream energy services also recorded a significant net profit increase of 202% from the previous year in the same period. Meanwhile, the energy distribution & logistics services recorded a net profit increase of 32%.

Elnusa's Corporate Secretary, Frida Lidwina, stated that Elna's performance in the first quarter of 2024 is the result of management's efforts to maintain the company's consistent business continuity and growth.

“Elnusa's growth in the first three months of 2024 was driven by improved performance in the upstream energy services segment,” Frida said in a press release on Tuesday (30/4).

ELSA also demonstrated solid performance by recording an Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) growth of IDR 372 billion, an increase from the same period in 2023, which was IDR 345 billion, or a growth of 8%.

As of March 31, 2024, ELSA's cash and cash equivalents reached IDR 2.48 trillion, a 20% increase from the same period in 2023, which was IDR 2.06 trillion.

Frida added that they are committed to continuously improving performance and providing added value for stakeholders. ELSA will continue to focus on innovation, operational efficiency, and sustainable business development.

"Through this strategy, we are optimistic that we can maintain stable business growth and make a real contribution to the national energy industry,” Frida concluded. 

Editor: Syamsul Azhar