Sunday, 21 April 2019 | 19:22 WIB

PGN Successfully Records US$1.62 Billion Revenue in 2017

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JAKARTA NNC - As a form of commitment and responsibility on government instructions, PT Perusahaan Gas Negara Tbk (PGN) on Monday (9/10/2018) held an Extraordinary General Meeting of Shareholders (RUPS-LB). The agenda included the presentation and evaluation of Semester I-2018 performance.

In the presence of shareholders, PGN's management explained the company's positive achievements during the first semester of 2018 by posting revenues of US$1.62 billion and net profit reaching US$145.94 million or more than IDR2 trillion (average exchange rate of six months in 2018 of IDR13,765 per dollar).

The realization was higher than the same period last year. In the first semester of 2017, PGN received revenues of US$1.41 billion with a net profit of US$50 million or IDR670.3 billion.

 "It means that during January-June 2018, the company managed to increase net profit by 191.8 percent," PGN's Corporate Secretary, Rachmat Hutama, said in an official statement on Jakarta (9/10).

Until the end of June 2018, the volume of natural gas distributed by PGN including its subsidiary PT Gagas Energi Indonesia to customers reached 835.56 BBTUD, an increase of 11.55 percent compared to the realization in the first half of last year of 749.02 BBTUD.

While the volume of gas transported through the PGN pipeline and its subsidiary PT Kalimantan Jawa Gas totaled at 727.4 BBTUD, up slightly compared to the volume of gas distribution in the first semester of 2017 of 723.9 BBTUD.