Strengthen Business Portfolio Strategy, Elnusa Optimistic Performance Growth 2019

Jakarta, 30 April 2019 – PT Elnusa Tbk (Elnusa), a leading company providing energy services, has closed the 2018 financial year with a positive achievement and set a 25% net profit as a dividend in mid-April 2019. Now Elnusa is preparing various accurate strategies to produce a better 2019 performance growth.

President Director of Elnusa, Elizar P Hasibuan said “The experience of the past three years has proven that the portfolio diversification strategy greatly supports Elnusa’s growth in performance. In 2019, we will strengthen this strategy, with a variety of prospective new opportunities. “

In addition to strengthening the existing business lines, Elnusa began exploring new opportunities from various business segments in the future. In upstream oil and gas services, several opportunities are explored, including the development of new markets abroad, opportunities for signature seismic exploration & multiclient bonuses, and refinery business operations & maintenance. In energy distribution and logistics services, Elnusa started its infrastructure business with revitalization and construction of BBM terminals, and boosted the chemical business for enhanced oil recovery. In addition, supporting businesses using the internet of things also began to be developed.

“We believe that the trend of the distribution and energy logistics business will be increasingly stretched and the upstream oil and gas services will improve in the future. The increase in non-asset-based services and marine seismic survey activities began to be more vibrant than the previous year. Development of new foreign markets for exploration activities began to grow, “Elizar added.

Elnusa began to gain several new opportunities earlier this year, including oil and gas exploration in Vietnamese waters, nodal seismic sea survey activities in several oil and gas blocks, implementation of several refinancing turnaround projects and digital business cooperation with other parties.

Until the end of the first quarter of 2019, Elnusa had managed to record a business income of Rp1.9 trillion, an increase of 31% compared to the achievement of the same period last year, amounting to Rp1.5 trillion. This increase also occurred in net profit of 7%, from Rp71 billion to Rp76 billion in the first quarter of this year.

The realization of several new opportunities and the growth of financial performance earlier this year added its own optimism. “We believe that in 2019, Elnusa’s performance will grow,” concluded Elizar. ***