Bambang Ismoyo, Jakarta – State-owned electricity company PLN reported Rp545.4 trillion ($33.33 billion) in revenue for 2024, marking an 11.9 percent increase from the previous year. The company also posted a net profit of Rp17.76 trillion, down 19.5 percent from Rp22.07 trillion in 2023.

PLN President Director Darmawan Prasodjo credited the strong performance to the government's backing during a year marked by global economic uncertainty and geopolitical turbulence.

"This achievement cannot be separated from the significant role and commitment of the government in ensuring PLN remains resilient amid global challenges," Darmawan said in a statement on Thursday.

Darmawan added that PLN's transformation since 2020 – including business process digitalization, operational efficiency, and adaptive marketing strategies – had strengthened the company's competitiveness and financial sustainability.

Electricity sales were a key driver of revenue, reaching 306.22 terawatt hours (TWh) in 2024, a 6.17 percent increase from 2023 and surpassing the government's target of 299.99 TWh by 2.08 percent. These sales generated Rp353.17 trillion in income, up from Rp333.19 trillion the previous year.

Household consumption accounted for the largest portion of electricity sales at 43 percent, followed by the industrial sector (30 percent), businesses (19 percent), and other segments (8 percent).

The increase in electricity sales was supported by asset expansion and the consolidation of PLN's business processes, which have positioned the company as a more modern, innovative, and climate-adaptive utility. PLN's customer base also grew by 5.88 percent, or an additional 3.72 million users in 2024.

"This is clear proof that our transformation since 2020 has delivered tangible results and solidified PLN's position as a world-class company," Darmawan said.

Source: https://jakartaglobe.id/business/pln-posts-33b-revenue-in-2024-but-profit-drops-19