Surya Esa Perkasa reports 40% increase in LPG production

By Alexander Ginting

PT Surya Esa Perkasa Tbk., Indonesia?s only listed LPG refiner, reported on Thursday that it produced 33,797 metric tons (MT) of LPG and 115,155 barrels of condensate in the 9-month of 2013, an increase of 40 percent and 39 percent respectively over last year?s same period.

Average selling price of LPG over the 2013 period decreased by 10.8 percent to US$804 per MT, as compared to $849 per MT in 2012. The average LPG price up until the third quarter of 2013 continued to remain higher than the company?s 2013 guidance of $750 per MT.

The company also recorded revenue of $30.9 million in 2013 as compared to $27.3 million in 2012, an increase of 13 percent. EBITDA rose 11 percent to $15.6 million from $14 million, and net profit rose 12 percent to $9.4 million from $8.4 million.

Surya Esa Perkasa owns and operates the second largest privately-owned domestic LPG refinery in Indonesia. The company?s facilities are located in Palembang, South Sumatra.

Editing by Reiner Simanjuntak