PGN (PGAS) Profit Soars 46% to US$90.4 Million in Q1 2026

PT Perusahaan Gas Negara (Persero) Tbk (PGAS) recorded a net profit of US90.4million, equivalenttoRp1.55trillion(assuminganexchangerateofRp17, 233perUS), in the first quarter of 2026. This achievement represents an increase of approximately 46% compared to the same period last year (year-on-year).

PGN’s Finance Director, Catur Dermawan, explained that this performance was supported by efficiencies in cost of goods and the strengthening of the natural gas trading business. The company managed to reduce operational costs, which positively impacted financial stability at the start of the year.

“The main focus of PGN is to ensure reliable energy services to customers through integrated infrastructure management and gas distribution. This approach is key to maintaining operational stability amid dynamics in domestic supply and energy needs,” he stated in a written release on Monday (27/4/2026).

During the January to March 2026 period, the company booked revenues of US$929.6 million, equivalent to Rp 16.02 trillion, with EBITDA reaching US$240.6 million, equivalent to Rp 4.14 trillion.

Meanwhile, gross profit growth was recorded at around 12%, driven by a 7% reduction in cost of goods, equivalent to savings of US$54 million or Rp 930.8 billion.

“The domestic-based business model and balanced portfolio enable PGN to maintain stable performance amid global energy dynamics,” Catur added.

On the operational side, PGN distributed a natural gas volume of 777 BBTUD, with transmission volume reaching 1,539 MMSCFD. The company also recorded regasification volumes through FSRU Lampung at 115 BBTUD, LNG Arun at 148 BBTUD, and FSRU West Java at 292 BBTUD to ensure service continuity.

“PGN will continue to maintain a balance between service reliability, operational efficiency, and prudent financial management to support national energy resilience,” he further stated.

To date, PGN’s infrastructure reliability remains at 99.9% to serve more than 825,000 customers throughout Indonesia. This number includes 822,561 households, 2,842 small customers, and 3,310 industrial and commercial customers spread across various regions.