Pertamina Group Issuers Resilient Amid Capital Market Fluctuations
Jakarta (ANTARA) - Pertamina’s VP of Corporate Communication, Muhammad Baron, stated that the issuers within the Pertamina Group have shown strong fundamentals and business resilience amid pressures on the Indonesian capital market throughout the first quarter of 2026, influenced by a combination of global and domestic turbulence.
“The Pertamina Group issuers continue to demonstrate resilient business strength, with solid operational performance and a strategic role in maintaining national energy resilience,” Baron said in a statement received in Jakarta on Saturday.
International geopolitical uncertainties have driven a broad repricing of Indonesia’s risk and affected investor sentiment towards the domestic market.
Nevertheless, Baron continued, the Pertamina Group issuers have managed to maintain relatively strong performance thanks to consistent operational fundamentals, the defensive position of the energy sector, and long-term prospects supported by national energy needs.
Several Pertamina Group issuers, based on first-quarter 2026 data, including those with stock codes PGAS (Pertamina Gas Negara), ELSA (Elnusa), PGEO (Pertamina Geothermal Energy), and TUGU (Tugu Insurance), have recorded share performances that show relative resilience against the Composite Stock Price Index (IHSG) and the sector, reflecting the consistent strength of business fundamentals.
However, share price movements remain dynamic, influenced more by perceptions of macroeconomic risk and Indonesia’s sovereign risk than by company fundamentals.
“We continue to strengthen strategic communication with investors, emphasising long-term value creation, and ensuring that the market understands the fundamental strengths and growth strategies of the Pertamina Group amid global volatility,” Baron said.
Pertamina also views the current market conditions as an opportunity to expand its investor base, improve engagement quality with analysts and the capital market, and reinforce the position of its issuers as a vital part of the national energy sector and energy transition.
“As the national energy leader, Pertamina not only focuses on maintaining business performance but also ensures investor confidence is preserved through strong corporate narratives, transparency, and sustainable growth strategies,” Baron stated.
Additionally, Baron continued, in facing global geopolitics, Pertamina continues to implement a dual growth strategy by maintaining the stability of its core business while accelerating the development of low-carbon energy, to strengthen the company’s competitiveness and create sustainable value for Indonesian society.