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20240205_ESSA_Laporan Informasi dan Fakta Material_31574650_lamp3.pdf
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ESSA Sees Better Earnings in Q4, 2023, Buoyed by Favorable
Commodity Prices
Jakarta, 5 February 2024 – PT ESSA Industries Indonesia Tbk. (formerly PT Surya Esa Perkasa Tbk.)
(“ESSA”), a publicly listed company engaged in the Energy and Chemical sectors through its LPG
(Liquefied Petroleum Gas) refinery and Ammonia plant today released its financial performance for the
year 2023. ESSA reported revenue of USD 345.0 million, a decrease of 53% YoY, and EBITDA of USD
123.3 million, a decrease of 65% YoY in 2023. The lower earnings were primarily driven by lower
commodity prices and a scheduled ammonia plant maintenance shutdown that was undertaken in
1Q23. ESSA has been unwaveringly committed itself to achieving operational excellence and cost
discipline.
ESSA’s Ammonia realized price has decreased by 54% YoY to an average of USD 412/MT for the year
2023. A fall in Ammonia prices that began in early 2023 appeared to reach their lowest level in mid-
2023, subsequently exhibiting an upward trajectory. ESSA expects ammonia prices to remain at similar
levels as in 2023 despite early 2024 witnessing a downward pressure due to current geopolitical issues
in Middle-East and Red Sea area.
ESSA continues to remain focused on manufacturing excellence, promoting environmental
sustainability, and adapting to the evolving needs of industries. ESSA’s steadfast dedication to both
environmental preservation and innovation is evident through the ongoing Phase 2 feasibility study for
the blue ammonia project. This pioneering endeavor holds substantial promise in shaping the landscape
of future decarbonization initiatives.
PT ESSA Industries Indonesia Tbk.
DBS Bank Tower 18th Floor T +62 21 2988 5600 / 5700
Jl. Prof. Dr. Satrio Kav. 3-5 F +62 21 2988 5601 / 5701
Jakarta 12940, Indonesia www.essa.id Page 1 of 2
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For further information, please visit our website www.essa.id, or contact:
Shinta D. U. Siringoringo M. Aditya
Corporate Secretary Media Relations Team
Phone: +62 21 2988 5600 Phone: +62 812 9548 6465
Email: corpsec.eii@essa.id Email: investor.relations@essa.id
***
PT ESSA Industries Indonesia Tbk.
DBS Bank Tower 18th Floor T +62 21 2988 5600 / 5700
Jl. Prof. Dr. Satrio Kav. 3-5 F +62 21 2988 5601 / 5701
Jakarta 12940, Indonesia www.essa.id Page 2 of 2
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