JAKARTA - PT Elnusa Tbk (ELSA) booked a revenue of Rp 3.9 trillion in the first half of 2020, Rp 100 billion higher than its record in the same period last year of Rp 3.8 trillion.
In a press release published on Tuesday (4/8), Hery Setiawan, Elnusa's Finance Director said that the growth in revenue was an evidence that Elnusa was increasingly strong in the oil and gas service business. "We are optimistic that the portfolio diversification we have will support each other and be able to maintain performance growth until the end of the year," he said.
He explained, the segment of upstream oil and gas services grew by 25% compared to the first semester of 2019, due to the high demand for oil and gas well management and maintenance services as well as engineering, procurement, construction, operation & maintenance (EPC-OM) services. Overall, he said, the contribution of the upstream oil and gas service segment to the company's revenue was 54%, followed by energy distribution & logistics services (42%), and supporting services (4%).
On the other hand, Elnusa also recorded gross profit growth to Rp 419 billion. However, its net profit actually declined to Rp 130 billion. "It's not easy to record net profit growth amid the current conditions," he said. (LK/AR)