JAKARTA - PT Elnusa Tbk (ELSA)  recorded a 42% year-on-year (yoy) increase in net profit in 2024, to IDR 713.67 billion.

Based on the latest financial report, the growth in net profit was in line with the increase in operating income which reached 7% to IDR 13.39 trillion, from IDR 12.56 trillion previously.

Operating income was the result of contributions from ELSA's three main business lines, namely sales of goods and energy distribution & logistics services (51%), integrated upstream oil and gas services (38%), and oil and gas support services (11%).

Stanley, ELSA's Finance Director, said that the improved performance reflected the successful implementation of operational optimisation and efficiency strategies. This strategy was consistently implemented by the company, and contributed to strengthening business fundamentals.

In the integrated upstream oil and gas services business line, Stanley continued, significant growth was recorded by the geoscience & reservoir services (GRS) and engineering business lines, which jumped 85% from the previous period. Meanwhile, procurement, construction, operation & maintenance (EPCOM) experienced operating income growth of 33%.

‘’The company's achievements reflect the resilience of the company's business, the ability to overcome various dynamic challenges, optimise assets owned and expand services to strengthen the competitiveness of sustainable growth,’ said Stanley.

According to IDNFinancials.com data, ELSA's total assets will increase by 10.69% to IDR10.6 trillion by 2024.(DH/LM)