Pertamina International Shipping (PIS) Reached 60.9% Profit Increase Throughout 2023

We are pleased to announce that PT Pertamina International Shipping (PIS), a Pertamina subholding which operates in the integrated logistics and shipping sector, has recorded a profit of USD 330 million throughout 2023, where this profit increased by 60.9% compared to 2022 at USD 205 million.

The increase in PIS profits resulted from encouragement from PIS revenue growth on the same period at USD 3.3 billion or an increase of 17.6% from 2022 at USD 2.83 billion.

On the EBITDA side, the Company recorded growth of 16.9% or reached USD 990 million with a stable percentage at 29.7%. Overall, PIS experienced revenue growth of up to USD 470 million.

In addition, the increase in profits and revenues in 2023 are the result of the performance of the PIS transformation program, namely 'Vesselleration'. This program outlines several basic fundamentals which are then carried out to accelerate business by the Company and its subsidiaries.

PIS's positive performance in the period of is also the result of synergy and collaboration with the Pertamina Group and its other Subholdings, namely PT Pertamina Patra Niaga, PT Kilang Pertamina Internasiona, PT Pertamina Hulu Energi, and PT Perusahaan Gas Negara Tbk., who always provide full support and have entrusted the business to PIS.

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We sincerely appreciate your continued and profound interest in Pertamina. If you have any questions regarding this email or any other matters related to Pertamina’s scope of business, please do not hesitate to contact our Investor Relations Team at pertamina_ir@pertamina.com