Jakarta — PT Pertamina Geothermal Energy Tbk (PGEO) reported a 15.48 percent year-over-year (yoy) increase in net income to USD79.61 million in the second quarter of 2026, driven by efficient business strategies, increased electricity production, and positive foreign exchange gains.
This net profit was supported by the company’s total revenue, which reached USD235.03 million in the second quarter of 2026—a 14.7 percent year-over-year increase compared to the same period the previous year, when revenue stood at USD204.85 million.
PGE’s Chief Financial Officer, Fransetya Hasudungan Hutabarat, stated that these positive results reflect the company’s consistency in operating geothermal power plants (PLTP) reliably and sustainably. “The growth we recorded this quarter is not just a number on paper. It serves as a foundation for PGE to continue expanding the benefits of geothermal energy for the public while driving the national energy transition," said Fransetya in an official statement in Jakarta on Wednesday (July 29, 2026).
The company’s improved financial performance aligns with growth in total production, which reached 2,745 gigawatt-hours (GWh) in the first half of 2026—a 13.62 percent year-over-year increase from 2,416 GWh in the same period the previous year.
On the balance sheet, PGE recorded an increase in equity to USD 2.01 billion in the second quarter of 2026.
At the same time, the company’s liabilities were successfully reduced by 2.80 percent (year-over-year) to USD 961.18 million, which had a positive impact on strengthening the capital structure and reducing the company’s financial risk.
This solid performance serves as a key asset for PGE in supporting the Renewable Energy (EBT) sector targets outlined in PT PLN (Persero)’s 2025–2034 Electricity Supply Business Plan (RUPTL), which aims for a 76 percent share of renewable energy, with geothermal capacity contributing 5.2 gigawatts (GW). (InfoPublik.id)