JAKARTA — PT Arkora Hydro Tbk (ARKO), a renewable energy company affiliated with the Astra Group and Hapsoro, posted a 52.9% year-on-year increase in net profit to Rp63.90 billion as of December 31, 2025.

Based on the company’s financial statements, the higher net profit was supported by revenue growth of 43.7% to Rp343.32 billion by the end of 2025.

In line with that, cost of revenue rose 40.6% to Rp253.60 billion. “This was due to the finalization process of the Kukusan 2 Project,” management said in an official statement on Monday (Mar 9).

ARKO recorded electricity production jumping 56.1% to 151.8 MWh in 2025. “Supported by the start of operations at the Yaentu Project and higher rainfall compared with 2024,” management explained.

In addition to construction services, the company currently manages four operating sites:

1. A 7.4 MW mini-hydropower plant in Cikopo, West Java
2. A 10 MW mini-hydropower plant in Tomasa, Central Sulawesi
3. A 10 MW mini-hydropower plant in Yaentu, Central Sulawesi
4. A 5.4 MW mini-hydropower plant in Kukusan, Lampung — which officially began operations in February.

“With more power plant projects being completed, we are confident we can continue upholding our commitment to electrify Indonesia with clean energy while operating a sustainable business,” said ARKO President Director Aldo Artoko.

As previously reported by IDNFinancials.com, ARKO still has two projects under construction in South Sulawesi: the 10 MW Tomoni Project and the 20 MW Pongbembe Project.

The Tomoni Project in South Sulawesi had reached 58.8% completion in 2025 and is expected to be finished in the second quarter of 2026. The project is targeted to generate up to Rp140 billion in revenue in 2026.

Meanwhile, the Pongbembe Project (20 MW), which began at the end of 2025, is targeted for completion in 2029.

ARKO said it has already secured a Power Purchase Agreement (PPA) with PLN for 30 years once the facility begins operations.

“The estimated electricity production is 97,218 MWh per year, all of which will be purchased by PLN. With this target, the Pongbembe Project is expected to contribute 27.7% of the company’s total energy production from six projects,” management explained.

As of December 2025, ARKO’s total assets rose to Rp1.69 trillion by year-end, driven by higher liabilities and increased equity.

Meanwhile, in terms of stock performance, ARKO shares closed up 13.04% in trading on Monday (Mar 9).

However, since the beginning of 2026, ARKO shares have declined 8.8%. Over the past month, the stock has also fallen 4.8%. (DK/ZH)