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Pertamina (PERTAMINA) investor relations material
Pertamina Q4 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for 2024 reached USD75.33 billion, down 0.61% from 2023, with net profit at USD3.13 billion, a 29.6% decrease year-over-year, mainly due to lower crack spreads and asset impairments.
EBITDA for 2024 was USD10.79 billion, a 24.8% decline from 2023, reflecting higher cost of goods sold and direct costs.
Total assets stood at USD89.85 billion, with equity at USD44.08 billion and liabilities at USD45.77 billion as of year-end 2024.
The company maintained a strong liquidity position, with a current ratio of 227.26% and a quick ratio of 137.92% in 2024.
Financial highlights
Operating income for 2024 was USD6.39 billion, down 23.9% from 2023.
Cost of goods sold and direct expenses increased by 2.99% to USD65.25 billion.
Export sales rose to USD7.74 billion, up 7.5% from 2023, while domestic sales of crude oil, gas, and oil products reached USD53.04 billion.
Net profit margin declined to 4.15% in 2024 from 5.86% in 2023.
Dividend payout for 2024 was IDR9.36 trillion, with a dividend-to-net profit ratio of 14%.
Outlook and guidance
The company projects continued global economic uncertainty in 2025, with a focus on dual growth strategy: maximizing legacy businesses and building low-carbon businesses.
Strategic priorities include reducing crude oil imports, increasing upstream production, expanding renewable energy, and implementing decarbonization initiatives.
The company aims to achieve Net Zero Emissions by 2060 and targets EBITDA of USD20 billion to reach a USD100 billion valuation.
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