Jakarta, INTI - PT Perusahaan Gas Negara Tbk (PGN) recorded revenue of USD 929.6 million in the first quarter of 2026, with net profit attributable to shareholders reaching USD 90.4 million, marking a 46% year-on-year increase.
This strong performance was also reflected in EBITDA, which stood at USD 240.6 million for the January–March 2026 period.
Profit growth was driven by a roughly 12% increase in gross profit alongside a 7% reduction in cost of goods sold, equivalent to around USD 54 million. Improvements in financial expenses and foreign exchange differences also contributed positively to overall performance.
PGN Finance Director Catur Dermawan stated that the company’s primary focus is to ensure reliable energy services through integrated infrastructure management and gas distribution. This approach, he noted, is key to maintaining operational stability amid fluctuating domestic energy supply and demand.
Operational and Infrastructure Performance Remains Strong
PGN’s revenue performance was supported by its core gas trading and infrastructure businesses, which remained solid despite the absence of LNG sales in the international trading segment during the period.
Gas distribution volume reached 777 BBTUD, while transmission volume stood at 1,539 MMSCFD. Distribution management continues to prioritize supply continuity, with infrastructure reliability maintained at 99.9%.
PGN currently serves more than 825,000 customers across Indonesia, including 822,561 household users, 2,842 small customers, and 3,310 industrial and commercial clients.
Financial Strategy and Growth Outlook
Amid global uncertainties such as exchange rate fluctuations and energy price volatility, PGN has implemented prudent liquidity management by optimizing cash flow and maintaining efficient financing strategies.
Financial expenses were reduced to USD 13.7 million, with an EBITDA-to-interest ratio of 20.75 times and a debt-to-equity ratio of 29%.
The company also posted positive operating cash flow of USD 86.9 million, highlighting its operational resilience. Contributions from the upstream segment further helped stabilize performance amid global energy price volatility.
Catur Dermawan added that PGN’s domestically focused business model and balanced portfolio enable the company to maintain stable performance despite global energy market dynamics.
Looking ahead, PGN plans to enhance infrastructure reliability and supply flexibility through pipeline network expansion as well as non-pipeline services such as LNG and CNG. The company will also continue expanding its household gas network to improve access to cleaner energy.
He emphasized that PGN remains committed to balancing service reliability, operational efficiency, and prudent financial management to support national energy resilience.
Conclusion
PGN’s strong Q1 2026 performance highlights its ability to maintain financial growth and operational resilience despite global energy uncertainties. With solid profitability, efficient cost management, and reliable infrastructure, the company is well-positioned to sustain stable growth while supporting Indonesia’s energy security through continued expansion and innovation.
Read more: FTUI Brings XPS Technology to Advance Materials and Energy Research in Indonesia