Elnusa (PT Elnusa Tbk), a subsidiary of Pertamina Hulu Energy (PHE), reported operational revenues of 3.6 trillion rupiah and a net profit of 190 billion rupiah in the first quarter of 2026, demonstrating a 2% year-on-year growth. This announcement was made during a press conference held in Jakarta, where the company's CFO, Neilwin Aldiansyah, indicated that these results represent a strong foundation for sustainable growth in the future.
Elnusa also recorded an increase in net profit margin to 5.2%, with earnings before interest, taxes, depreciation, and amortization (EBITDA) reaching approximately 423 billion rupiah, marking a 7% increase compared to the previous year. Furthermore, the company experienced a significant improvement in liquidity, with cash flows from operations rising to 1.04 trillion rupiah, representing a 267% year-on-year increase.
Event Details
By the end of March 2026, Elnusa's total assets increased to 11.0 trillion rupiah, reflecting a 1% rise since the beginning of the year. Equity also grew by 4%, reaching 5.5 trillion rupiah. Neilwin confirmed that these results reflect ongoing efforts to enhance operational efficiency and improve financial performance.
The energy distribution and logistics sectors are the main revenue drivers, contributing 64% of total revenues, while oil and gas services accounted for 28% and supporting services contributed 8%.
Background & Context
Founded in 1969, Elnusa is one of the leading companies in oil and gas services in Indonesia. The company is part of the Pertamina group, which plays a significant role in developing the country's energy sector. Over the years, Elnusa has expanded its service offerings to include a wide range of activities, from exploration and production to logistics services.
These results come at a time when the global energy sector is undergoing significant transformations, with increasing demand for clean energy and modern technology. Elnusa aims to strengthen its market position by investing in modern technology and enhancing operational efficiency.
Impact & Consequences
Elnusa's results are a positive indicator of the health of the oil sector in Indonesia, reflecting the ability of companies to adapt to global economic challenges. The increase in revenues and profits enhances the company's capacity to invest in new projects and expand its service offerings, contributing to economic growth in the country.
Moreover, the growth in cash flows indicates the company's ability to achieve financial sustainability, enabling it to better face future challenges. Strengthening collaboration with the Pertamina group in technology development reflects the company's commitment to innovation and advancement.
Regional Significance
Indonesia is one of the largest economies in Southeast Asia, and the success of companies like Elnusa can have positive implications for economic relations with Arab countries. With the rising demand for energy in the region, these results could open new avenues for cooperation between Indonesian and Arab companies in the fields of energy and technology.
In conclusion, Elnusa's results for the first quarter of 2026 reflect the ability to achieve growth amid challenging economic conditions, enhancing its position in the Indonesian market and providing positive signals for regional markets.