Indonesia SOEs’ combined profit reaches Rp214.9 trillion

Jakarta (ANTARA) - Sovereign wealth fund Danantara Chief Operating Officer Dony Oskaria said transformation of state-owned enterprise (SOEs/BUMN) helped increase their combined net profit by 18.4 percent to Rp214.9 trillion in January-August 2026.

Oskaria, who also heads the State-Owned Enterprises Regulatory Agency (BP BUMN), presented the figures at the Danantara Technology Innovation Investment Forum (DTIIF) 2026 in Jakarta on Monday.

“The transformation we have carried out has delivered results,” Oskaria said during the forum’s C-Suite session.

According to data presented by Danantara, combined net profit at SOEs rose from Rp181.5 trillion in January-August 2025 to Rp214.9 trillion in the same period this year, an increase of Rp33.4 trillion year-on-year.

The improvement in profitability was accompanied by an increase in annualized return on equity (ROE), which reached 8.0 percent in the first eight months of 2026, up from 7.4 percent in the same period last year.

The combined ROE therefore increased by 0.6 percentage points, indicating improved returns relative to shareholders’ equity.

Oskaria said the transformation involved reviewing business models, revenue sources and composition, cost structures, and profit levels, with reference to global industry best practices.

Cement producer PT Semen Indonesia (Persero) Tbk, also known as SIG, recorded one of the largest increases in net profit among SOEs, with earnings rising 427 percent year-on-year in January-August 2026, according to Danantara’s presentation.

Other SOEs also reported substantial profit growth. Pupuk Indonesia’s profit increased 233 percent, Danareksa’s rose 110 percent, and PTPN III’s climbed 55 percent compared with the same period last year.

Additional increases were recorded by Pertamina, at 48 percent; Pelindo, at 45 percent; Bank Tabungan Negara (BTN), at 35 percent; and Bank Mandiri, at 16 percent.

Oskaria attributed the improved performance to gradual reforms in business models and corporate management, including stronger financial discipline and governance.

He said stronger SOE performance was important to Danantara’s long-term sustainability because the investment agency relies on dividends from state-owned companies to help fund its investments.

Higher SOE profitability is therefore expected to strengthen Danantara’s capacity to finance investments in strategic sectors, with the aim of increasing income and creating jobs in Indonesia.

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Translator: Aria, Kenzu
Editor: Primayanti
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