13 November 2015

ELNUSA Has Spent Rp422 Billion Investment and Maintained Profitability

Jakarta, 13th November 2015 – Located in the Indonesia Stock Exchange in the event the Investor Summit 2015, PT Elnusa Tbk (ELNUSA), one of the leading national providers of integrated energy services, presents the update performance that remained optimistic while maintaining the aspect of profitability amid the world’s oil low prices. ELNUSA was still issued Rp422 billion for investments in equipment in order to maintain the operating performance and the quality of professional services to clients ELNUSA and to support future business growth.

“Even in the midst of pressure in revenues, performance of ELNUSA until the third quarter of this year is still relatively good. Earnings per September 2015 amounted to Rp226 billion. The net profit of Rp288 billion in the previous period – including the gain on sale of land assets amounted to Rp87 billion. If the gain on sale of asset is excluded, the net profit in the third quarter still grew by 12.4 percent. In addition, we are still able to maintain the profitability of which is visible from the gross margin rose from 16% to 17%, the operating margin remained stable at 9%, EBITDA margin rose from 15% to 17% and net margin without asset sales growth of 7% to 9%, “said Budi Rahardjo, Finance Director of PT ELNUSA Tbk.

Budi added, “Strategy ELNUSA in maintaining its performance is to remain focused on core business liability, namely Drilling & Oilfield Services business unit where it will be able to survive in the midst of the oil and gas industry that become slow with lower global oil prices. Besides the better implementation of the project and financial management supported by efficiency in all sectors “.

The investment up to the third quarter has reached Rp422 billion, significantly increased compared to last year’s total investments amounted to Rp366 billion. One of the important and strategic investments made this year, the company is investing in Division of DOS (Drilling & Oilfield Services) in the form of Accommodation Work Barge Elnusa Samudera 8 (ELSA 8)-The First Eco-Green Work Barge in Indonesia – worth almost USD10 million, which was recently ELSA 8 received recognition and awards from the Government of the Republic of Indonesia through Ministry of Research, Technology and Higher Education and Third President Prof. BJ Habibie on the National Awakening Day 2015 as one of the 20 Nations Children’s Work Leading Technology.

“The investment is expected to increase the Company’s revenues in the coming years in line with the Company’s readiness to continue to improve the competence and capacity of resources in anticipation of the rebound period in global and national oil and gas industry in the future,” said Budi. ***

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