Strengthening Expansion and Diversification, RAJA's Net Profit Surges 20%
PT Rukun Raharja Tbk (RAJA) recorded positive performance throughout 2025, reflected in solid growth in revenue and net profit. RAJA achieved a net profit of 20%, rising from US$29 million to US$35 million, thanks to the strengthening of its core business and contributions from strategic corporate actions.
This profit achievement was supported by a 5% increase in the company’s revenue, from US$254 million to US$266 million. This growth was primarily driven by strong performance in the midstream and downstream business lines. The profit increase was also supported by non-operating income contributions, particularly from the Hafar acquisition completed in August last year.
RAJA’s President Director, Djauhar Maulidi, stated that this performance underscores that the company is on the right growth path, through a balanced strategy between strengthening the core business and inorganic expansion.
“The growth of the company’s core business is reflected in the operation of the Sengkang gas compressor project in the midstream segment as well as increased gas sales in the downstream segment,” said Djauhar in a written statement on Wednesday (1/4/2026).
Meanwhile, on the inorganic expansion side, the contribution from the Hafar acquisition further strengthens the company’s performance and business portfolio. Overall, these steps reflect the effectiveness of the diversification strategy in creating sustainable added value for stakeholders.
Djauhar said that to support long-term growth, the company has prepared capital expenditure (capex) of US$200 million, allocated to all strategic project developments of the company. This capex is focused on expanding operational capacity, increasing business added value, and strengthening the company’s position in the national energy sector. The allocation covers several main initiatives, including the construction of the Balikpapan-Samarinda fuel pipeline, the development of mini LNG in West Java, and feasibility studies for LNG facilities in North Kalimantan as part of gas portfolio diversification.
“In addition to organic expansion, the company is also strengthening growth through inorganic strategies. Through its subsidiary, PT Raharja Energi Cepu Tbk (RATU), the company is currently finalising the acquisition of SMS Development Limited, which holds a participating interest in the Madura Strait Block, and in parallel, conducting legal due diligence and final-stage negotiations for the planned acquisition of participating interests in other oil and gas blocks in eastern Indonesia,” he concluded.
These acquisitions are expected to increase the company’s exposure to productive upstream assets and strengthen future performance growth. These steps also reflect a selective and measured expansion strategy, while prioritising prudence and the application of good corporate governance.
“All series of transactions and project developments are targeted to achieve main milestones in the second quarter of 2026, so they are expected to start contributing to the company’s sustainable performance growth in the medium and long term,” Djauhar emphasised.