ESSA Posts Strong First-Half 2026 Earnings Despite Major Plant Maintenance Shutdown
Discover more
JAKARTA – Jakartaweekly.com. PT ESSA Industries Indonesia Tbk delivered a strong financial performance in the first half of 2026, reporting significant growth in revenue and profitability despite temporarily reducing production during a major scheduled maintenance shutdown at its ammonia plant.
The energy and chemicals company posted revenue of US$186 million during the first six months of 2026, representing a 36% year-on-year (YoY) increase. EBITDA climbed 48% YoY to US$73 million, while net profit more than doubled to US$30 million, supported by stronger ammonia prices, disciplined operations, and effective asset management.
ESSA, which operates in the LPG (Liquefied Petroleum Gas) processing and ammonia production businesses, said the results demonstrate its ability to capitalize on favorable commodity market conditions while maintaining operational excellence.
The company’s ammonia business remained the primary earnings driver during the period. The average realized ammonia selling price surged 70% YoY to US$531 per metric ton, helping offset lower production volumes caused by the planned turnaround maintenance.
As a result, revenue from the ammonia segment increased 43% YoY to US$166 million, despite temporary production interruptions. The company noted that continued geopolitical developments have contributed to elevated global ammonia prices, supporting stronger earnings throughout the reporting period.
Meanwhile, ESSA’s LPG business continued operating normally during the maintenance period. Supported by a 5% increase in realized LPG prices to US$639 per metric ton, the segment generated US$20 million in revenue.
A key milestone during the first half of the year was the successful completion of ESSA’s scheduled ammonia plant turnaround, which finished on June 8, 2026, after 34 days—ahead of the company’s original target of 35 to 38 days.
Scheduled turnaround maintenance is a critical part of long-term industrial operations, allowing companies to inspect, repair, and upgrade equipment to improve reliability, operational efficiency, and workplace safety while reducing the risk of unexpected shutdowns.
According to ESSA, the maintenance involved more than 1,000 personnel across multiple engineering and operational disciplines.
President Director and CEO Kanishk Laroya said the successful execution reflects years of preparation and operational discipline.
“Successfully completing our scheduled turnaround involving more than 1,000 people across multiple disciplines is a testament to our team’s detailed planning and execution,” Laroya said.
He added that the project was completed without any Lost Time Injury (LTI), underscoring ESSA’s strong commitment to occupational health and safety.
“The turnaround enhances not only the plant’s reliability and safety, but also its productivity and efficiency, reinforcing our position as a world-class ammonia producer,” he said.
The successful maintenance program is expected to strengthen ESSA’s production reliability for the remainder of the year while positioning the company to benefit from favorable market conditions should ammonia prices remain resilient.
With its key production assets now operating following the turnaround, ESSA expects improved operational efficiency alongside stronger long-term asset integrity.
The company believes disciplined maintenance, prudent operational management, and continued focus on safety will remain central to supporting sustainable growth across both its ammonia and LPG businesses.
As global demand for industrial chemicals and energy products continues to evolve, ESSA aims to leverage its strengthened production capabilities and resilient operating model to capture future market opportunities while maintaining financial discipline.