Perusahaan Listrik Negara (PLN) investor relations material

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.