2020, Pertamina Achieve Net Profit of IDR 15 Trillion

Jakarta, June 14, 2021 – PT Pertamina (Persero) managed to record a positive financial performance in 2020, even though during 2020, all sectors of the global economy and the world's oil industry were hit by the Covid-19 pandemic, along with declining energy demand and declining world oil prices. It is shown by its consolidated net profit (Audited) of USD 1.05 billion or around IDR 15.3 trillion. (Rupiah exchange rate of 2020 IDR 14,572)

This positive financial performance was also demonstrated by an EBITDA of USD 7.6 billion with an EBITDA margin of 18.3%. It shows that Pertamina's financial condition is safe and able to survive amidst the global economic crisis.

Pertamina's 2020 performance has obtained shareholder approval, submitted at the General Meeting of Shareholders (GMS) on Tuesday, June 14, 2021.

Acting Senior Vice President Corporate Communication & Investor Relations of Pertamina, Fajriyah Usman, explained that since the Covid-19 pandemic hit the world, Pertamina has made various efforts to improve performance. It follows the direction of the Minister of SOEs, namely to carry out the transformation, optimization, efficiency, and accountability consistently throughout the company. Therefore, the company can achieve consolidated revenue at the end of 2020 of USD 41.47 billion.

On May 25, 2021, according to her, Pertamina has received the 2020 Independent Auditor Report submitted by Public Accountants Purwantono, Sungkoro & Surja with the opinion that the financial statements have been presented fairly in all material respects. And as a State-Owned Enterprise, this report has also been examined by the Indonesian Financial Audit Agency.

The positive financial performance of Pertamina in 2020, according to Fajriyah, will serve as a benchmark for all levels of the company's management, both in holding and sub-holding, in deciding and carrying out work plans in 2021.

"The Covid-19 pandemic is not over yet. The financial and operational performance of 2020 is a positive driver to realize the aspirations of shareholders to become a global energy company in the future with a company value of USD 100 billion," explained Fajriyah.

In the Board of Commissioners report submitted by Condro Kirono, the Board of Commissioners expressed appreciation to Pertamina for the profit achievement for the 2020 fiscal year.

"It should be appreciated considering that 2020 is not an easy year, but Pertamina was able to achieve a consolidated net profit of USD 1.05 billion or 250% above the 2020 revised RKAP target, which is USD 419.8 million," said Condro.**