JAKARTA - PT Elnusa Tbk (ELSA) earned an "idAA-" rating from PT Pemeringkat Efek Indonesia (Pefindo).
In its report, Pefindo gave a corporate rating outlook for Elnusa at a stable level. The rating period is valid from March 19, 2020 to March 1, 2021.
The "idAA-"rating reflects ELSA’s strong business synergy with PT Pertamina (Persero), strong diversification and presence in the oil and gas services business, and strong cash flow protection measures and liquidity.
At the end of 2019, Elnusa's net profit was recorded at Rp 356.5 billion, an increase compared to the achievements in the previous year of Rp 276.3 billion. This was driven by the company's sales which also grew to Rp 8.38 trillion in 2019. (LM)