Pertamina Hulu Energi Becomes 41.1% Shareholder of Elnusa

Pertamina Hulu Energi (PHE) now holds 41.1% of PT Elnusa Tbk's shares, previously owned by PT Pertamina (Persero). This is stated in a letter from Elnusa to the Financial Services Authority (OJK) dated September 3, 2021.

The letter explains that the transfer of 41.1% of Elnusa's shares from Pertamina to PHE took effect on September 1, 2021. However, Pertamina remains the indirect controlling shareholder of Elnusa.

This is because PHE is a subsidiary of Pertamina. The oil and gas state-owned enterprise holds 99.9% of PHE's shares.

Meanwhile, other shareholders remain unchanged. Dana Pensiun Pertamina (DPP) holds 9.9% of the shares (ELSA code), while the public holds 48.9%.

For information, Elnusa's financial performance in the first half of 2021 was disappointing. Net profit attributable to the controlling entity decreased by 69.19% from Rp 130.35 billion in the first half of 2020 to Rp 40.15 billion in the first half of this year. As a result, earnings per share decreased from Rp 17.86 per share to Rp 5.5 per share.

Elnusa's assets also decreased by 6.28% to Rp 7.09 trillion in January-June 2021 compared to the same period the previous year. The company's liabilities decreased by 13.55% to Rp 3.3 trillion, while its equity increased by 1.15% to Rp 3.78 trillion.