Jakarta (Benchmark News) – Energy service providers, issuers of PT Elnusa Tbk. (ELSA) managed to obtain an increase in the nett profit amounted to 9.2%. Based on the company’s official description published Monday (26/9/1999), the company scored net profits of sneilai billion or ride Rp145 9.2% compared to Rp133 billion in the same period a year earlier.
Despite successfully applying the company’s business revenues profit the contraction 5.1% to Rp1,7 trillion from Rp1,8 trillion. Financial Director ELSA Budi Raharjo said, the condition of the global economy and oil prices that are not yet stable enough to impact on the company’s business revenue decline.
However, with good business management make Elnusa able to survive even a relatively better than other companies in the oil & gas industry nationwide. According to him, the efficiency of the fee structure into strategies that cannot be avoided in addressing current industry situation.
On the other hand, he said, the company was able to suppress the cost of revenue by 8% resulting in a gross profit increase of 9.7% to Rp324 billion. Operating income surged by 35.8% to decrease the burden because Rp232 billion effort amounted to 35% which also led to improved EBITDA amounted to 23.6% to Rp377 billion. Gross profit margin, operating income and EBITDA also improved into each 13.6%, 18.9% and 22.0% in the first half of 1999.
“The Nature of business of Elnusa which differentiate also gives advantage to us, where along the middle of this slowdown in business activity, 2016 services drilling can be offset by the oilfield & growing seismic activity services, logistic and distribution services as well as supporting other businesses run by several subsidiary of Elnusa who contributed significantly to the company’s business as a whole,” he said in the official description…(Red)