ESSA Posts Strong 4Q25 Results as Ammonia Prices Surge

Jakartaweekly.com — PT ESSA Industries Indonesia Tbk (ESSA), a publicly listed energy and chemicals company operating an LPG refinery and ammonia plant, reported a strong performance in the fourth quarter of 2025, supported by a sharp recovery in global ammonia prices and improved operational reliability.

Ammonia prices surged 31% quarter-on-quarter (QoQ) during the final quarter of 2025, helping drive a significant improvement in the company’s financial performance. ESSA reported revenue growth of 51% QoQ, while net profit jumped 194% QoQ, reflecting the company’s ability to capture higher prices amid tightening global ammonia supply.

The company’s strong operational reliability also played a key role in supporting production levels during the period, allowing ESSA to benefit from the improved market conditions.

For the full year of 2025, ESSA recorded revenue of USD 295 million, representing a slight 2% year-on-year decline, despite weaker commodity prices during most of the year. Average prices for LPG and ammonia fell 8% and 3.5% respectively compared with 2024.

However, the impact of lower prices was partly offset by higher ammonia dispatch volumes, which rose 3% year-on-year. Reduced financial costs following the company’s early loan repayments also helped support profitability.

According to ESSA President Director and CEO Kanishk Laroya, operational reliability and disciplined financial management were key factors behind the company’s performance.

“Our strong operating levels and plant reliability helped offset much of the pressure from lower commodity prices,” Laroya said.

He added that ESSA’s LPG facility has now recorded more than 6.5 years without a plant trip, while its ammonia plant has achieved 9.4 million safe man-hours, highlighting the company’s focus on operational excellence.

Looking ahead, ESSA plans to conduct a scheduled turnaround maintenance for its ammonia plant in the second quarter of 2026 to ensure long-term safety, efficiency, and sustainability.

The company also strengthened its balance sheet significantly after repaying all outstanding loans in 2025, leaving ESSA with net cash of USD 126 million.

“With a debt-free balance sheet and a strong cash position, ESSA is well placed to pursue future growth opportunities,” Laroya said.