ESSA - PT. Surya Esa Perkasa Tbk

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JAKARTA - PT Surya Esa Perkasa Tbk yesterday (30/5) released its consolidated financial statements for the three months period ended March 31, 2022. 

Robust operations and favorable market conditions resulted in Revenue of USD 159 million in 1Q22, a significant increase of 132% YoY. The Ammonia business contributed 92% of total revenues, while the LPG business contributed 8%. 

On the operational side, Ammonia production was recorded at 186,474 MT with plant utilization rate of 115% in 1Q22. LPG production for 1Q22 was 15,578 MT with plant availability of 99.8%. ESSA achieved EBITDA of USD 69.1 million, up 126% YoY

ESSA’s President Director, Vinod Laroya, stated, “The higher Ammonia & LPG prices in the quarter coupled with operational excellence enabled strong 1Q22 performance. Our focus on clean energy continues as we are currently in the process of conducting a feasibility study for Blue Ammonia with JOGMEC, Mitsubishi Corporation and ITB and hope to embark on this exciting journey soon.” (LM)