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ESSA’s Bottomline in 2024 Improves Due to Lower Costs, Despite
Lower Revenue
Jakarta, 21 February 2025 – PT ESSA Industries Indonesia Tbk. (“ESSA”), a publicly listed company
engaged in the Energy and Chemical sectors through its LPG (Liquefied Petroleum Gas) refinery and
Ammonia plant, reported full year 2024 results. Revenue for the year was USD 301 million (a decrease
of 13% YoY) primarily due to 15% lower ammonia prices averaging USD 350/MT. Despite the lower
revenue, EBITDA for the year 2024 increased by 4% to USD 129 million due to lower operational costs.
Revenue (USD Million) EBITDA (USD Million) Net Profit* (USD Million)
↓13%
345 ↑4%
129 ↑31%
301
123 45
35
FY23 FY24 FY23 FY24 FY23 FY24
*Attributable to Shareholder of the Company
ESSA continues to maintain the highest standards of plant safety and reliability. The ammonia plant
completed 8.4 million cumulative manhours without Loss Time Injury (LTI), while the LPG plant clocked
6.1 million cumulative manhours without LTI (more than five and a half years of continuous operation
without a trip) – a milestone. With the successful completion of nearly a two-week maintenance in 2Q24,
the ammonia plant is operating at dependable levels of reliability and efficiency.
Ammonia prices remained largely stable in 2024 with gradual improvement in the last two quarters.
Going ahead, ammonia prices are expected to remain range bound around the 2024 levels. Meanwhile,
LPG prices also remained fairly stable in 2024 due to the extension of OPEC+ voluntary oil production
cuts.
Quarterly Revenue & EBITDA (USD Million) - TFQ Quarterly Ammonia & LPG Realized Price (USD/MT) - TFQ
77.8 78.5 625 628
73.8 71.3 586 581
368
35.7 344 334 357
31.5 30.0 31.3
1Q24 2Q24 3Q24 4Q24 1Q24 2Q24 3Q24 4Q24
EBITDA Revenue Ammonia Price LPG Price
PT ESSA Industries Indonesia Tbk.
DBS Bank Tower 18th Floor T +62 21 2988 5600
Jl. Prof. Dr. Satrio Kav. 3-5 F +62 21 2988 5601
Jakarta 12940, Indonesia www.essa.id Page 1 of 4
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ESSA is committed to achieving manufacturing excellence, promoting environmental sustainability, and
staying ahead of industry trends. We have prioritized and focused on growth to maximize shareholder
value by leveraging opportunities that align with our core strengths. ESSA, through its subsidiary PT
ESSA SAF Makmur (“ESM”), will set up a state-of-the-art greenfield manufacturing facility in Central Java
to produce up to ±200,000 MT per annum of Sustainable Aviation Fuel (SAF) with commercial
operations expected in Q1 2028.
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
Jl. Prof. Dr. Satrio Kav. 3-5 F +62 21 2988 5601
Jakarta 12940, Indonesia www.essa.id Page 2 of 4
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Laba ESSA Meningkat di 2024 Berkat Efisiensi Biaya meskipun
Pendapatan Menurun
Jakarta, 21 Februari 2025 – PT ESSA Industries Indonesia Tbk. (“ESSA”), perusahaan tercatat yang
bergerak di sektor Energi dan Kimia melalui kilang LPG (Liquefied Petroleum Gas) dan pabrik Amoniak,
hari ini merilis kinerja keuangan untuk tahun buku 2024. Pendapatan tercatat sebesar USD 301 juta
(turun 13% YoY), terutama disebabkan oleh turunnya harga amoniak sebesar 15%, dengan harga rata-
rata sebesar USD 350/MT. Meskipun pendapatan menurun, EBITDA pada tahun 2024 tercatat meningkat
sebesar 4% menjadi USD 129 juta karena biaya operasional yang lebih rendah.
Pendapatan (USD Juta) EBITDA (USD Juta) Laba Bersih* (USD Juta)
ↆ13%
345 ↑4%
129 ↑31%
301
123 45
35
FY23 FY24 FY23 FY24 FY23 FY24
* Yang dapat diatribusikan ke Pemegang Saham Perseroan
ESSA terus mempertahankan standar tertinggi dalam aspek keselamatan dan keandalan operasional.
Pabrik Amoniak telah mencatatkan 8,4 juta jam kerja kumulatif tanpa Loss Time Injury (LTI), sementara
Pabrik LPG mencapai 6,1 juta jam kerja kumulatif tanpa LTI (lebih dari lima setengah tahun operasi
berkelanjutan tanpa trip), yang merupakan sebuah pencapaian penting. Setelah menyelesaikan
maintenance selama hampir dua minggu pada kuartal kedua 2024, Pabrik Amoniak kini beroperasi
dengan tingkat keandalan dan efisiensi yang optimal.Harga amoniak sebagian besar tercatat tetap stabil
sepanjang Tahun 2024, dengan peningkatan bertahap dalam dua kuartal terakhir. Ke depan, harga
amoniak diperkirakan akan tetap bergerak dalam kisaran yang sama seperti pada Tahun 2024.
Sementara itu, harga LPG juga diprediksi tetap stabil sepanjang Tahun 2024, didukung oleh
perpanjangan kebijakan pemangkasan produksi minyak secara sukarela oleh OPEC+.
Pendapatan Kuartal & EBITDA (USD Juta) - TFQ Harga Realisasi Amoniak & LPG Kuartal (USD/MT) - TFQ
77.8 78.5 625 628
73.8 71.3 586 581
368
35.7 344 334 357
31.5 30.0 31.3
1Q24 2Q24 3Q24 4Q24 1Q24 2Q24 3Q24 4Q24
EBITDA Revenue
Pendapatan Ammonia Price
Harga Amoniak LPG Price
Harga LPG
PT ESSA Industries Indonesia Tbk.
DBS Bank Tower 18th Floor T +62 21 2988 5600
Jl. Prof. Dr. Satrio Kav. 3-5 F +62 21 2988 5601
Jakarta 12940, Indonesia www.essa.id Page 3 of 4
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ESSA terus berkomitmen untuk mencapai manufacturing excellence, mendukung keberlanjutan
lingkungan, dan beradaptasi dengan tren industri yang terus berkembang. Kami senantiasa
memprioritaskan pertumbuhan untuk memaksimalkan nilai bagi seluruh Pemegang Saham dengan
memanfaatkan peluang yang selaras dengan kekuatan utama kami. Melalui anak perusahaannya,
PT ESSA SAF Makmur (“ESM”), ESSA akan membangun fasilitas manufaktur greenfield berteknologi
tinggi di Jawa Tengah untuk memproduksi Sustainable Aviation Fuel (SAF) hingga ±200.000 MT per
tahun, dimana operasional secara komersial ditargetkan mulai pada kuartal pertama 2028.
Untuk informasi lebih lanjut, kunjungi website kami di www.essa.id atau hubungi:
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
Jl. Prof. Dr. Satrio Kav. 3-5 F +62 21 2988 5601
Jakarta 12940, Indonesia www.essa.id Page 4 of 4
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Industries Indonesia Tbk.
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PT ESSA SAF Makmur
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Media Relations Team
· Corporate Secretary
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