Petrosea Prints Revenue of IDR 4.31 Trillion

 

In the third quarter of 2021, PT Petrosea Tbk (PTRO) recorded a 20.67% increase in total revenue to US$301.59 million equivalent to Rp4.31 trillion.”The increase in revenue was obtained from an increase in operational activities in the contract mining business line,” said Petrosea President Director, Hanifa Indradjaya in Jakarta, yesterday.

Meanwhile, the company recorded pre-operational costs to support several new projects and again managed to record a 10.38 percent increase in profit attributable to owners of the parent entity to US$14.35 million equivalent to Rp205.2 billion.”Petrosea continues the diversification process by capturing new business opportunities in other mineral projects as part of the implementation of the Company’s 3D strategy, namely Diversification, Digitization and Decarbonization,” he said.

During this period, the company obtained several new contracts in the EPC business line, including rehabilitation & new construction of settling ponds for PT Kideco Jaya Agung, as well as contract amendments for construction services at the portsite and hauling, loading & dewatering at the Wanagon project for PT Freeport Indonesia. .In addition, through its subsidiary, PT Karya Bhumi Lestari, PTRO signed a mining service agreement with PT Kartika Selabumi Mining & PT Palm Mas Asri for a contract period of seven years and a contract value of US$182.45 million.

PTRO also signed a cooperation agreement with PT Hardaya Mining Energy & PT Central Cipta Murdaya for a contract period of four years and a contract value of US$265 million.The company has also signed an addendum to a cooperation agreement with PT Mekko Metal Mining and PT Perkasa Investama Mineral for a bauxite project located in West Kalimantan with an increase in the contract value to US$ 100 million for a period of five years.Petrosea prioritizes Environmental, Social & Governance (ESG) aspects, including the application of good corporate governance principles in all elements of the company.

In addition, Petrosea also continues to focus on implementing sustainability strategies in accordance with the Sustainable Development Goals (SDGs).The company continues the diversification process by capturing new business opportunities in other mineral projects.This is part of the implementation of the 3D strategy, namely diversification, digitization and decarbonization as an enabler and key pillar of the company to continue to develop thevalue propositionto allstakeholders.

In addition, Petrosea also continues to focus on implementing a sustainability strategy in accordance with thesustainable development goals(SDGs).For information, during the pandemic, the company focused on accelerating the process of diversifying its business by running several business opportunities in mineral projects, such as gold and bauxite, as well as strengthening the capabilities of subsidiaries in the mining and EPC sectors.