Pertamina Posts Rp56.6 Trillion Profit in 2022, Highest in History

Pertamina recorded a net profit of USD3.81 billion or Rp56.6 trillion in 2022.

IDXChannel - Pertamina recorded a net profit of USD3.81 billion or Rp56.6 trillion in 2022, an increase of 86 percent compared to 2021.

It was the highest annual net profit in the state energy giant's history.

Pertamina's revenues also skyrocketed in 2022, reaching USD84.89 billion or around Rp1,262 trillion, up 48% compared to the previous year.

In line with the increase in revenues, Pertamina's consolidated EBITDA also increased to USD13.59 billion, up 47% compared to 2021.

"We closed 2022 with the highest performance in Pertamina's history. We recorded a net profit of USD3.81 billion," Pertamina President Director Nicke Widyawati said in a statement.

According to Nicke, the increase in the company's revenues was not only supported by higher oil and gas production as well as product sales. However, Pertamina also succeeded in optimizing costs. 

Due to significant improvements in financial and operational performances throughout 2022, Pertamina reaffirmed its position as the only Indonesian company included in the Fortune Global 500, The company is ranked 223, up from 287. (WHY)