PGEO - Targeting major expansions ahead

PGEO - Targeting major expansions ahead Pertamina Geothermal Energy (PGEO) is targeting FY26F revenue of about USD445–USD455 mn and net profit of USD150–USD160 mn, supported by projected electricity output of 5,255 GWh and EBITDA of USD340–USD350 mn. In 1Q26, PGEO has already booked revenue of USD116.55 mn and net profit of USD43.92 mn, both higher than in the same period last year, indicating it is ahead of pace toward its 2026 guidance. To support this growth, the company has set 2026 capital expenditure at USD209 mn, with around USD129.7 mn allocated specifically for organic capacity expansion projects that are expected to lift installed geothermal capacity toward 778 MW in 2027, 988 MW in 2028, and eventually about 1.77 GW by 2033. Management notes that capex will ramp up significantly in the 2028–2031 window, marking PGEO’s most aggressive expansion phase, and emphasizes that these investments in long-life geothermal assets are designed not only to underpin the 2026 earnings targets but also to secure sustained growth and cash flow visibility well beyond that year. (Source : Bisnis Indonesia)