Jakarta, April 29, 2026 — PT Pertamina Geothermal Energy Tbk (PGE) (IDX: PGEO) recorded positive performance in the first quarter of 2026, reflecting solid business resilience. Based on its financial report as of March 31, 2026, PGE posted revenue of US$116.555 million, a 14.8 percent year-on-year (YoY) increase compared to US$101.507 million in the same period the previous year.
PGE Finance Director Fransetya Hutabarat stated that during this period, PGE maintained healthy profitability and strong operating cash flow.
"Throughout the first quarter of 2026, PGE recorded a net profit of US$43.899 million. This figure increased 40 percent compared to the same period the previous year, which was US$31.352 million. This growth was driven by the effectiveness of the Company's sustainable business strategy. Furthermore, this achievement also places PGE in a solid financial position for continued sustainable growth," said Fransetya Hutabarat.
Referring to the interim financial report as of March 31, 2026, PGE recorded:
•? ?Revenue: US$116,555 million, up 14.8 percent year-on-year
•? ?Net Profit: US$43,899 million, up 40 percent year-on-year
•? ?Total Assets: US$3.06 billion, up 0.71 percent compared to December 31, 2025
•? ?Equity: US$2.09 billion, up 2.23 percent compared to December 31, 2025
•? ?Cash and Cash Equivalents: US$745,213 million, up 3.72 percent compared to December 31, 2025
In terms of equity, the Company recorded an increase from US$2.04 billion in the previous quarter. PGE's net income rose 2.44 percent to US$964,737 million in Q1 2025. This increase demonstrates PGE's sound financial position, with a strong ability to meet obligations and generate profits. Meanwhile, the company's liabilities decreased 2.44 percent compared to December 31, 2025, to US$964,737 million. This decrease positively strengthened the company's capital structure and reduced its financial risk.
Geothermal: Key to National Energy Transition and Resilience
On the same occasion, PGE President Director Ahmad Yani emphasized that amidst geopolitical tensions and the global energy crisis, the energy transition must remain a priority.
"This global situation provides momentum for Indonesia to further optimize geothermal development. In line with this, as a world-leading geothermal producer, PGE continues to focus on long-term growth through three main strategies: optimizing existing assets, expanding its business, and diversifying new revenue sources. PGE's solid performance in recent years has provided a strong foundation for sustainable growth. Going forward, these achievements will equip us to continue expanding and providing broader benefits to the community," said Ahmad Yani.
The development of the New, Renewable Energy (NRE) sector is also showing increasingly positive trends. This is reflected in PT PLN (Persero)'s Electricity Supply Business Plan (RUPTL) for the 2025–2034 period, which targets a 76 percent share of renewable energy. During this period, geothermal energy is targeted to contribute 5.2 gigawatts (GW) of capacity.
To support the achievement of these targets, PGE is targeting an installed capacity of 1 GW by 2028 and 1.8 GW by 2034.
Currently, the Company manages 15 Geothermal Working Areas with an installed capacity of 727 megawatts (MW), contributing significantly to electricity supply in various regions. By managing approximately 70 percent of the total installed national geothermal capacity, PGE is a key pillar in supporting the national electricity system while encouraging the transition to more environmentally friendly energy.
Furthermore, PGE has also recorded superior performance in sustainability, achieving the highest ESG rating in Indonesia, with a score of 7.1 from Sustainalytics. PGE is the only Indonesian company included in the Top 50 Global ESG Companies 2025 list.
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About PT Pertamina Geothermal Energy Tbk
PT Pertamina Geothermal Energy Tbk (PGE) (IDX: PGEO) is part of the Power & New Renewable Energy (PNRE) Subholding of PT Pertamina (Persero), which operates in the exploration, exploitation, and production of geothermal energy. PGE currently manages 15 Geothermal Working Areas with an installed capacity of 1,932 MW, consisting of 727 MW operated and managed directly by PGE and 1,205 MW managed under a Joint Operating Contract (JOC). The installed geothermal capacity in PGE's working areas accounts for approximately 70% of Indonesia's total installed geothermal capacity, with the potential to reduce CO2 emissions by approximately 10 million tons of CO2 per year.
As a world-class green energy company, PGE aims to create value by maximizing the end-to-end management of geothermal potential and its derivative products and participating in the national and global decarbonization agenda to support Indonesia's net zero emission target of 2060. PGE has excellent ESG credentials with 20 Gold PROPER awards from 2011 to 2025 in the highest environmental compliance award from the Ministry of Environment/Environmental Control Agency ESG Rating & Engagement.
