Elnusa (ELSA) Achieves a Net Profit of Rp 503 Billion in 2023

CORPORATE STRATEGIC - JAKARTA. PT Elnusa (ELSA) recorded a net profit for the fiscal year 2023 of IDR 503 billion or a growth of 33% Year on Year (YoY). This positive achievement is inseparable from the implementation of the right business strategy carried out throughout the last year.

Elnusa's President Director, Bachtiar Soeria Atmadja, said that the implementation of the right business strategy was able to support Elnusa's profitability growth since the performance achievement of the third quarter of 2023. 

“This achievement is the highest peak in the history of Elnusa's establishment, and this certainly determines our success in recording positive financial performance for the fiscal year ending December 31, 2023,” said Bachtiar in a press release received by Kontan, Thursday (7/3).

Throughout 2023, from the operational side, Elnusa successfully achieved in all business segments in upstream oil and gas services, energy distribution and logistics services, and oil and gas support services.

From the capital expenditure side, Elnusa has absorbed capital expenditure of IDR 495 billion which is used for both business growth and maintaining capacity.

Bachtiar added, Elnusa's profitability growth in the fiscal year 2023 was driven by the efforts of all management and Elnusa Officers in building a strong foundation for growth and long-term business sustainability that is mutually beneficial for all Elnusa stakeholders. 

In order to maintain this growth and best performance, the company already has a Strategic Direction focused on four aspects that can be consistently implemented in 2024.

The company will focus on improving human development for long-term sustainability. In addition, from the business process side, the company continues to optimize processes to increase competitiveness. 

“The company also continues to encourage business development for more aggressive growth, and most importantly, the company always strives to increase profitability and maintain financial stability,” he said.

Bachtiar added, this strategic direction is carried out for acceleration to achieve excellence by catalyzing momentum through the best human resources, collaboration, and continuous innovation and responsibility. 

“We are optimistic that with this strategy the company will grow even higher in the future which in the end is able to support the national oil and gas production target,” he concluded.