JAKARTA – PT Petrosea Tbk (PTRO), a company owned by conglomerate Prajogo Pangestu, recorded net profit of USD 28.80 million as of 31 December 2025, soaring 197% year-on-year, or nearly three times higher than USD 9.69 million in 2024.

The surge in the company’s net profit was supported by revenue growth, which also increased 28% to USD 886.45 million.

Based on the company’s financial statements, all business segments recorded growth except for the services segment. Coal sales also declined 18.9% to USD 52 million.

However, PTRO’s two main business pillars — mining as well as construction and engineering — rose 34.2% and 26.9% respectively to USD 389.3 million and USD 379.8 million.

Meanwhile, the contribution from the company’s new business segment, offshore oil and gas EPCI, has now reached USD 32.9 million, or 3.7% of PTRO’s total revenue in 2025.

This achievement aligns with PTRO’s target to generate 4% of its revenue in 2025 from the offshore EPCI segment, particularly following the acquisition of the Hafar Group.

Cost of revenue also increased 28.9%, but gross profit still rose 24% to USD 112.22 million, although the margin slipped slightly from 13% to 12.65%.

Furthermore, a significant increase in other income pushed the company’s profit before tax up 399.2% to USD 39.3 million.

From the balance sheet perspective, the company’s liabilities jumped 106% to USD 1.27 billion as of 31 December 2025, lifting total assets by 82% to USD 1.58 billion.

Most recently, IDNFinancials.com reported that PTRO is pushing expansion and operational synergies by acquiring majority stakes in PT Nusantara Arung Samudera (NAS) and PT Vista Maritim Asia (VMA) on 24 February 2026.

Anto Broto, PTRO’s corporate secretary, explained that the acquisition of the two entities was carried out through two indirect PTRO subsidiaries, PT Petrosindo Sinergi Samudera (PSS) and PT Petrosindo Sinergi Alur (PSA). (DK/ZH)