Apexindo swings to stronger profit in 2025 despite flat revenue
Wednesday, March 18 2026 - 07:50 AM WIB
By Rara Suratmi
IDX-listed drilling rig provider PT Apexindo Pratama Duta Tbk (IDX: APEX) posted a sharp increase in net profit for 2025, supported by improved cost efficiency and stronger operating performance, even as revenue remained broadly flat.
The company reported revenue of $84.24 million in 2025, slightly lower than $84.58 million in 2024, reflecting stable demand across its drilling service segments.
Despite muted top-line growth, net profit surged to $4.06 million, a significant jump from $0.54 million a year earlier.
Apexindo’s gross profit rose to $24.42 million, compared with $18.57 million in 2024, as direct costs declined to $59.82 million from $66.02 million previously.
Read also : Apexindo wins new offshore drilling contract from Pertamina
Operating expenses also fell to $12.57 million, while the company recorded improved operating leverage across its offshore and onshore drilling operations.
However, finance costs increased to $4.87 million, reflecting ongoing debt obligations and lease liabilities.
The combination of cost reductions and stable revenues lifted profit before tax to $4.43 million, up more than fivefold from $0.83 million in 2024.
Total assets increased to $262.45 million at end-2025, up from $251.00 million in the previous year.
Editing by Reiner Simanjuntak