JAKARTA – PT Cikarang Listrindo Tbk (POWR) recorded an increase in sales in 2024 compared to 2023, driven by growth in its sales to PT Perusahaan Listrik Negara (Persero) or PLN.

In the 2024 Financial Report published on Tuesday (24/2), Andrew K. Labbaika, President Director of POWR, reported that the company achieved sales of USD 547.01 million in 2024, a slight increase of 0.17% year-on-year (yoy) from USD 546.07 million in 2023.

In 2024, POWR’s sales to PLN grew by 2.65% yoy to USD 75.87 million from USD 73.91 million, while sales to Industrial Customers decreased to USD 471.14 million from USD 472.16 million.

However, operating profit declined to USD 111.32 million from USD 124.55 million, followed by a decrease in net profit to USD 75.34 million from USD 76.97 million. The drop in net profit was attributed to an increase in deferred income tax expense, which rose to USD 8.76 million from a deferred income tax benefit of USD 1.48 million recorded the previous year.

Meanwhile, POWR’s stock price fluctuated during Tuesday afternoon’s trading session (24/2). The stock opened at IDR 660, with a high of IDR 665 and a low of IDR 660 per share. (LK/ZH)