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Perusahaan Listrik Negara (PLN) investor relations material

Perusahaan Listrik Negara H1 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 2024 earnings summary26 Jul, 2024

Executive summary

  • Revenue for the six months ended June 30, 2024 reached Rp262.1 trillion, up from Rp234.5 trillion year-over-year.

  • Net income attributable to owners was Rp4.99 trillion, a sharp decline from Rp25.9 trillion in the same period last year.

  • Operating profit was Rp28.5 trillion, down from Rp32.3 trillion year-over-year.

  • Total assets stood at Rp1,691.2 trillion as of June 30, 2024, up from Rp1,670.6 trillion at year-end 2023.

  • The company maintained a strong capital structure and continued significant infrastructure investments.

Financial highlights

  • Revenue increased 11.8% year-over-year, driven by higher electricity sales and government subsidies.

  • Net income dropped 80.7% year-over-year, mainly due to higher operating expenses and a significant increase in foreign exchange losses.

  • Operating expenses rose to Rp233.6 trillion from Rp202.2 trillion year-over-year, with fuel and purchased electricity as major contributors.

  • Basic earnings per share was Rp33,970, down from Rp180,391 year-over-year.

  • Cash and cash equivalents at period end were Rp29.9 trillion, down from Rp55.9 trillion at year-end 2023.

Segment performance

  • Java, Bali, and Nusa Tenggara contributed the largest share of revenue at Rp228.6 trillion.

  • Sumatera, Kalimantan, Sulawesi, and Maluku-Papua segments also showed positive revenue growth.

  • All regions reported positive operating profit, with Java, Bali, and Nusa Tenggara leading.

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Frequently asked questions

Perusahaan Listrik Negara (PLN) is an Indonesian state-owned corporation responsible for the generation, transmission, and distribution of electricity across Indonesia. The company operates extensive infrastructure, including power plants, substations, and distribution networks, serving residential, commercial, and industrial customers. PLN provides a range of electricity services, from power generation using diverse energy sources such as coal, natural gas, hydroelectric, and renewables, to managing electricity billing and customer services. The company is headquartered in Jakarta, Indonesia.

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