Enjoying Hike in Global Oil Prices
ELSA’s current jump in revenue is underpinned by the hike in global oil prices driving ELSA’s upstream oil and gas business. In January 2018, WTI, the global oil prices reference, settled at USD63 per barrel. Based on consensus, in 2018, the global oil price remains at the average of USD61 per barrel. The figures are higher than the average oil prices of USD52.1 per barrel in 2017.

Highest Jump in Integrated Oil and Gas Upstream Services
ELSA in 3Q17 posted the jump of 63.7% y-y in its total revenue mainly underpinned by the jump of 81.4% y-y posted by the integrated oil and gas upstream service division. Besides, another division, namely the logistic and energy distribution service also posted the surge of 54.3% y-y in revenue. The surging revenue was potent driver for the hike of 115.6% y-y into IDR71 billion in net profit.


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