JAKARTA – The net profit of PT TBS Energi Utama Tbk (TOBA) dropped 86.32% year-on-year (yoy) in 2023 from the same period in 2022. The profit decline then affected the shareholders’ decision regarding cash dividend allocation.

In the minutes of Annual General Meeting of Shareholders quoted today (30/4), Pingkan Ratna Melati, Corporate Secretary of TOBA, confirmed that the shareholders have acknowledged net profit of 2023 of USD 20.84 million. Then, USD 7.90 million of which is secured as net profit attributable to the parent entity.

USD 790,651 of said attributed net profit is allocated as appropriation, while another USD 7.11 million is stored as retained earnings to improve capitalisation.

In 2022, it recorded net profit of USD 93.88 million, USD 57.82 million of which are attributed to the parent entity. Then, USD 6.9 million of which were allocated as cash dividend, followed by USD 578,201 as reserves, while another USD 50.34 million were stored as retained earnings to strengthen capital structure. (LK/ZH)