Net Profit Grows 14%, RAJA Reaches US$10.5 Million in Q1-2026
Jakarta, CNBC Indonesia - The integrated energy issuer, PT Rukun Raharja Tbk (RAJA), has successfully maintained positive performance by recording net profit growth up to the first quarter of 2026. This result was achieved by the Company amid pressures on the revenue side due to operational disruptions affecting the midstream and downstream business lines.
This performance also reflects the resilience of Rukun Raharja’s business model and the effectiveness of the consistent diversification strategy implemented. The Company’s revenue in the first quarter of 2026 was recorded at US$55.3 million, or a 16% decrease compared to the same period last year of US$66.1 million.
This decline was primarily influenced by an incident on the gas pipeline route in the Pekanbaru area, which impacted the Company’s midstream and downstream business performance. The incident has been declared as a force majeure condition by the Company’s partners, resulting in a temporary adjustment to the gas distribution volume to customers.
Amid these pressures, Rukun Raharja still managed to record a 14% net profit growth to US$10.5 million in the first quarter of 2026, from US$9.2 million in the same period last year.
This increase was driven by contributions from the midstream business line, particularly gas compression plant rental services in Sengkang, South Sulawesi, as well as other income contributions (non-operating income), mainly from the Company’s investments in the Engineering, Procurement, Construction & Installation (EPCI) business and the shipping sector through the Hafar group.
Ultimately, this achievement confirms that the Company’s business portfolio diversification strategy has effectively supported financial performance amid operational challenges in the core business lines.
Rukun Raharja’s President Director, Djauhar Maulidi, stated that this performance shows that the diversification strategy we are implementing has provided resilience for the Company amid operational pressures.
“Moving forward, we will continue to strengthen our core business, develop energy infrastructure, and promote strategic expansion in the upstream and downstream sectors to maintain sustainable growth,” he said in a written statement on Monday (4/5/2026).
Entering 2026, Rukun Raharja will continue various strategic initiatives to strengthen the foundation for medium- and long-term growth. The Company plans to build a fuel pipeline infrastructure connecting Balikpapan and Samarinda, with construction targeted to start in the third quarter of 2026.
This project is expected to strengthen the energy distribution network in East Kalimantan and support sustainable growth in the midstream segment.
In addition, through its subsidiary, PT Raharja Energi Cepu Tbk (RATU), the Company is completing the acquisition of SMS Development Limited, which holds a participating interest in the Madura Strait Block. The completion of this transaction is targeted to contribute to the Company’s consolidated performance starting from the second quarter of 2026.
On the other hand, Rukun Raharja is also finalising the final stage of plans to acquire a participating interest in one of the oil and gas blocks in the Eastern Indonesia region, which will strengthen the Company’s exposure in both the upstream and downstream segments. This investment is targeted to be realised in the second quarter of 2026 as part of efforts to strengthen the integrated energy portfolio and drive sustainable growth.
Through a combination of strengthening the core business and selective inorganic expansion, Rukun Raharja is optimistic about maintaining sustainable growth momentum, while still prioritising prudence principles and the application of good corporate governance.