Pertamina corporate communication VP Fadjar Djoko Santoso stated that, amid global business challenges, Pertamina has been able to compete with global companies across various sectors, from oil and gas, to banking, aviation and other sectors. Its achievement as the third-largest in Southeast Asia demonstrates that Pertamina's performance continues to grow alongside its adept business strategies, meaning Pertamina is highly regarded on the global and regional stage.

"Pertamina has recorded a positive performance across various business lines in accordance with the strategic and innovative programs implemented, especially in facing the current dynamic business challenges," said Fadjar.

In its publication released on June 18, Fortune explained that Southeast Asia plays a significant role in the global economy post-COVID-19 pandemic. However, companies from Southeast Asia are highly exposed to global dynamics such as geopolitical conflicts and market uncertainties, causing many companies to experience revenue declines. Meanwhile, the top-five companies in Southeast Asia, including Pertamina, still generate the highest revenues in the region, despite regional revenue corrections.

Fadjar said that Pertamina's performance in 2023 continued to grow. This is demonstrated by the company’s net profit increase of 17 percent at the end of 2023, reaching a total profit of US$4.77 billion. Additionally, earnings before interest, taxes, depreciation and amortization (EBITDA) reached $14.36 billion, up 6 percent compared with 2022. Meanwhile, consolidated revenues in 2023 amounted to $75.79 billion.

This performance growth is also marked by the investment ratings given by various international rating agencies, which have designated Pertamina as an investment-grade company. Pertamina has been recognized for carefully maintaining the growth of its core business while also supporting the transition to cleaner energy.

Fadjar added that Pertamina's operational performance is also becoming more efficient across all lines, both holdings and sub-holdings, through cost optimization programs that have contributed approximately $1.1 billion. Operationally, performance in all sub-holdings also improved.

In addition to efficiency, Fadjar noted that Pertamina's operations are also becoming more environmentally friendly in line with the implementation of environmental, social and governance (ESG) principles across all business lines. Pertamina ranks first globally in the Integrated Oil and Gas sub-industry. Pertamina leads with the highest score among 61 companies worldwide, based on rankings from the ESG rating agency Sustainalytics.

"With the support of all stakeholders, Pertamina will continue to grow into a leading national company in maintaining energy security and independence in Indonesia," concluded Fadjar.

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