PT TBS Energi Utama Tbk recorded a net profit increase of 128.8%, reaching US$40.5 million in the first semester of 2024. PT TBS Energi Tbk Director Mufti Utomo said the good financial performance showed the company’s resilience and commitment to grow sustainably.
“We are focused on addressing current challenges while investing in future opportunities, both through the Batam Floating Solar Power Plant (PLTS) and by expanding our electric vehicle footprint,” said Mufti.
TBS’s profit growth was supported by an increase in adjusted earnings before interest tax, depreciation, and amortization (EBITDA) of 67.1% to US$83.7 million.
In addition, a diverse portfolio also plays an important role in the company’s performance, especially through coal-fired power plants in Gorontalo and North Sulawesi. Both provide stability amid fluctuating coal prices.
Meanwhile, the waste management sector contributed 2.6 million to EBITDA. This development confirms the company’s commitment to shifting to more sustainable business practices.
He said the first half of 2024 was marked by several key achievements that demonstrated the company’s dedication to driving a greener future. TBS’s main focus is currently on the electric vehicle sector, with TBS subsidiary Electrum increasing the number of Electrum electric motorcycles on the road to 2,238 units and expanding its Battery Swap Station network to 192 by the middle of this year. Electrum also achieved a Domestic Component Level (TKDN) of 40%.
“This achievement is not just a number, but is proof of TBS’s commitment to changing the electric vehicle landscape in Indonesia, in line with government incentives for sustainable development,” he said. (Z-11)
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