PT Medco Energi Internasional Tbk (MEDC) kicked off 2026 with a stellar financial performance, reporting a massive surge in net profit that nearly quadrupled during the first quarter.
According to the company’s financial report released through the Indonesia Stock Exchange (IDX) on Friday, May 1, MEDC recorded a net profit attributable to the parent entity of US$ 67.39 million (approximately Rp 1.17 trillion). This marks a sharp increase compared to the US$ 17.62 million (Rp 305.43 billion) reported during the same period last year, based on an exchange rate of Rp 17,334.35 per US dollar.
Management attributed this robust growth to strong contributions from associated entities and an uptick in revenue generated from contracts with customers. “On a consolidated basis, MEDC’s profit for the period reached US$ 72.15 million, rising significantly from US$ 20.53 million in the first quarter of 2025,” the company stated on Saturday, May 2.
In terms of top-line growth, MEDC recorded total revenue of US$ 668.31 million, climbing from US$ 560.47 million in the previous year. This performance was primarily driven by contracts with customers, which accounted for US$ 654.35 million of the total.
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Operational strength remained evident, with gross profit holding steady at US$ 231.74 million. Meanwhile, profit before tax from continuing operations saw a significant boost, jumping to US$ 149.73 million from US$ 91.84 million in the prior year. A major driver of this profitability was the recovery in the share of profit from associates and joint ventures, which turned a profit of US$ 44.55 million, compared to a loss of US$ 20.01 million in the same period of 2025.
On the balance sheet, MEDC’s total assets were valued at US$ 8.27 billion as of March 31, 2026, a slight dip from the US$ 8.36 billion recorded at the end of 2025. Non-current assets, particularly oil and gas holdings and stock investments, continue to dominate the portfolio at US$ 6.68 billion, while current assets accounted for US$ 1.59 billion.
The company also demonstrated improved financial discipline regarding its liabilities, which decreased to US$ 5.87 billion from US$ 6.00 billion at the end of 2025, reflecting more efficient capital structure management. Consequently, total equity strengthened to US$ 2.41 billion, up from US$ 2.36 billion at the end of last year, with US$ 2.20 billion attributable to the parent entity.
MEDC’s cash flow statement further highlights its operational efficiency. Net cash from operating activities rose to US$ 272.95 million, up from US$ 210.51 million year-on-year. While net cash used in investing activities stood at US$ 105.77 million—largely funneled into oil and gas assets and exploration—the company maintained a focused approach to debt management. Financing activities resulted in a net cash outflow of US$ 201.67 million, used primarily for loan repayments, bond repurchases, and lease liability settlements.
Through strategic corporate actions such as debt management and bond repurchases, MEDC has maintained a solid financial foundation at the start of 2026. As the company continues to navigate ongoing investment needs and debt obligations, its strong operational cash flow positions it well for the remainder of the year.
Summary
PT Medco Energi Internasional Tbk (MEDC) reported a strong start to 2026, with first-quarter net profit surging to US$ 67.39 million, nearly quadrupling from the US$ 17.62 million recorded in the same period last year. This growth was driven by a rise in total revenue to US$ 668.31 million and a significant recovery in profits from associates and joint ventures. Overall operational performance remained robust, supported by increased efficiency and solid contributions from customer contracts.
The company also strengthened its financial position by reducing total liabilities to US$ 5.87 billion through disciplined debt management and bond repurchases. While total assets saw a minor decline to US$ 8.27 billion, total equity improved to US$ 2.41 billion by the end of March 2026. With healthy operational cash flow of US$ 272.95 million, Medco maintains a stable foundation to manage its ongoing investment activities throughout the year.
