JAKARTA. PT Perusahaan Gas Negara (Persero) Tbk (PGAS), also known as PGN, has ambitions to obtain a net profit of US$ 1 billion in 2020, even though its business is slowing down.
Gigih Prakoso, President Director of PGN, said that the company has formulated a strategic plan to improve its business up to 2024. Starting from synergies with state-owned enterprises to private companies. "Going forward, we will develop many business initiatives," Prakoso explained as reported by Bisnis Indonesia on Tuesday (11/2) today.
Meanwhile, Arie Nobelta Kaban, Finance Director of PGN, admitted that the natural gas business is currently facing a number of challenges. But the target, said Kaban, was calculated based on the projected sale price of gas for the next 5 years. "External conditions, government regulations, they are challenges for the company to obtain US$ 1 billion," said Kaban.
According to data compiled by idnfinancials.com, as of 9M 2019, PGN generated US$ 129.11 million in net profit, with a net profit margin of 4.59%. (KR/AR)