KONTAN.CO.ID - JAKARTA. PT Pertamina Geothermal Energy Tbk (PGEO) recorded a positive financial performance throughout 2023. According to the audited consolidated financial report, PGEO posted a net profit of US$ 163.57 million, increase of 28.47% year on year (YoY) from 2022's US$ 127.32 million. Meanwhile, revenue in 2023 reached US$ 406.29 million, up from 2022's US$ 386.07 million. The increased revenue in 2023 came from the Kamojang area amounting to US$ 151.51 million, followed in order by Ulubelu with US$ 120.18 million, the Lahendong area with US$ 83.88 million, the Lumut Balai area with US$ 41.32 million, and the Karaha area with US$ 9.38 million.
Meanwhile, PGEO's sales expenses increased by 3.33% to US$ 178.98 million from US$ 173.21 million in 2022. President Director of Pertamina Geothermal Energy, Julfi Hadi, said that the net profit margin, which increased to 40% from 33% in 2022, shows PGE's ability to improve production performance and control sales expenses, demonstrating PGE's consistency in implementing operational excellence. “The performance we achieved in 2023 is proof of PGE's commitment and consistency in enhancing the company's value through various efficiency efforts and optimization of production assets. This achievement also affirms the bright prospects of the geothermal industry," said Jufli in a press release, Monday (4/3). Baca Juga: Pertamina Gas Eyes New Business Potential in Petrochemical Products and Clean Energy Jufli continued, PGEO is determined to continue developing the potential of geothermal energy in Indonesia and other regions in the world. According to him, PGEO continues to expand through the exploration of geothermal potential and optimization of work areas for the acceleration of increasing the installed capacity of the company's geothermal power plants (PLTP) to 1 GW in the next 2 years. In 2023, the company operated 6 own operation areas.
