ndonesia Power is by far the greatest contributor to the parent company PLN’s balance sheet. Indonesia Power’s own balance sheet, meanwhile, continues to reflect the country’s booming economy and industrial growth.

According to the most recent figures available, Indonesia Power continues to exceed targets set by PLN, especially in terms of electricity sales, which in 2003 were set at 41.254 GWh. By the end of that year, the company had sold 42,543 GWh, some 3.12 percent higher than the target and 6.23 percent more than the previous year.

At the same time, employee productivity increased by 26.57 percent over the previous year, while the number of Indonesia Power employees increased by 146 to 3,784.

Another milestone for the year was an increase of 31.65 percent in operating revenue to $1.6 billion, 1.9 percent higher than the PLN target. After calculating tax income, including deferred charges and other expenses, net income for the year 2003 was $130 million, which nearly doubled in 2004 to $250 million.

By the end of 2003, Indonesia Power had shown significant performance growth in terms of productivity, efficiency and human resource development, all of which contributed to a total installed capacity of 6,756 MW from the company’s eight power generating business units. Over the last few years, the company’s indicators have shown electricity production increasing by as much as 5.32 percent annually.

Each year, the Minister of Revenues and State Companies gives Indonesia Power a grade for its overall business health. In 2003 the company received a score of 25.5 for its finances, 29.8 for operational aspects and 13 for administration for an overall score of 68.3. The results gave Indonesia Power a “Healthy” ranking for the year, earning it the highly prized “A” classification.