PT Pertamina Geothermal Energy Tbk (PGE) (IDX: PGEO) again recorded positive financial performance in the second quarter of 2025. This positive performance also solidified PGE's role as a key player in the geothermal industry, driving the acceleration of the energy transition and achieving national energy security. By the end of the second quarter of 2025, PGE had a current-year profit of US$68.93 million.
Based on the financial report as of June 30, 2025, PGE recorded:
•? ?Revenue: US$204.85 million, growing 0.53% year-on-year (YoY)
•? ?Total Assets: US$3.05 billion, growing 1.62% YoY
•? ?Cash and Cash Equivalents: US$712.34 million, growing 8.69% YoY
Yurizki Rio, Finance Director of PT Pertamina Geothermal Energy Tbk, stated, "PGE's performance is on a healthy track. This indicates the company's strong financial fundamentals, driven by production exceeding initial projections," said Yurizki in a statement in Jakarta on Tuesday (July 29, 2025).
Yurizki stated that PGE's strengthening business performance demonstrates that geothermal energy is a renewable energy source that plays a strategic role in the Indonesian government's efforts to promote the energy transition. Despite global geopolitical and economic challenges impacting project funding and operational costs, PGE continues to record solid operational performance. Energy production this quarter exceeded initial projections, contributing to the company's revenue growth.
"The company's net profit remains healthy, and our EBITDA margin is maintained above 80%, reflecting efficiency and profitability in asset and operational management," he added.
Furthermore, Yurizki also expressed his optimism about achieving PGE's 1 gigawatt (GW) target of independently managed installed capacity, supported by a number of key projects currently underway, including the development of Hululais Units 1 & 2 (110 megawatts/MW), co-generation projects with a total capacity of 230 MW, and the exploration of the Gunung Tiga Geothermal Working Area (WKP), which was inaugurated by President Prabowo last June. Furthermore, the operation of the Lumut Balai Unit 2 Geothermal Power Plant at the end of June added 55 MW of electricity to the national grid, which will positively impact the Company's financial performance throughout the year.
Economic Growth for All
PT Pertamina Geothermal Energy Tbk President Director Julfi Hadi stated that as a world-class green energy company, PGE is committed to providing stable and reliable clean geothermal energy as part of a concrete contribution to achieving Indonesia's Net Zero Emission target by 2060.
"We are pursuing our journey to 1 GW with consistency and confidence. The operation of Lumut Balai Unit 2, the Gunung Tiga Geothermal Power Plant (PLTP) greenfield exploration project, and the development of various other projects are proof of PGE's consistency in developing geothermal energy utilization," said Julfi.
Furthermore, Julfi emphasized that PGE's mission is not only to provide electricity, but also to empower communities around its operational areas in the process.
"We believe geothermal energy should benefit all. Therefore, in addition to making strategic investments and maintaining profitability, we also ensure that every step we take contributes to a circular economy and improves the welfare of surrounding communities. This commitment is reflected in various globally recognized social initiatives, including the eight awards we recently won at the Indonesia Social Responsibility Award (ISRA) 2025," he emphasized.
With more than 40 years of experience, PGE currently manages an installed capacity of 1,932 MW, consisting of 727 MW independently managed and 1,205 MW with partners. PGE is optimistic about increasing its independently installed capacity to 1 GW in the next 2-3 years, and 1.7 GW by 2033.
