Pertamina, only Indonesian firm included in Fortune Global 500
Wednesday, July 24 2019 - 02:42 PM WIB
State energy company PT Pertamina becomes the only Indonesian company included in the list of Fortune Global 500 for 2019.
Based on the latest list, Pertamina is ranked at 175 out of top 500 global companies, improved from previous year's position at 253.
The Fortune Global 500 list is measured based on consolidated revenues and other indicators such as equity, market capitalization, profitability, number of employees.
VP Corporate Communication of Pertamina Fajriyah Usman said Pertamina's achievement was possible, thanks to the support of various parties, including board of management and employees, government, the general public and other stakeholders.
The list shows Pertamina is now on par with other top global companies, Fajriyah said. "This is a proud achievement for Pertamina after listed in the Fortune Global 500. This is also a proud moment for Indonesia because Petamina has proven itself to be able to compete in the world level," Fajriah noted.
In 2018, Pertamina booked revenues of US$57.93 billion, up 34.9 percent from 2017, while its net profit reached US$2.53 billion, edged slightly lower from previous year of US$2.54 billion and assets stood at US$64.7 billion, with total 31,569 employees.
Editing by Roffie Kurniawan