Renewable energy issuer, PT Green Power Group Tbk (LABA), recorded an impressive financial performance in the first quarter of 2026. The company successfully posted a net profit of IDR 6.09 billion, soaring significantly by 207.86 percent compared to the same period in the previous year which was recorded at IDR 1.98 billion. This achievement was reached amidst the dynamics of a decline in the company's net sales.
Based on the information disclosure report submitted to the Indonesia Stock Exchange (IDX), the company's net sales actually experienced a year-on-year (yoy) decline of 61.55 percent, shrinking from IDR 8.74 billion in Q1 2025 to IDR 3.36 billion in Q1 2026. In line with this trend, the cost of goods sold (COGS) was also trimmed by 57.01 percent to IDR 1.30 billion from the previous IDR 3.03 billion. Meanwhile, gross profit was recorded to have decreased by 63.91 percent to IDR 2.06 billion.
To support long-term growth, LABA's management reaffirmed its commitment to strengthening its new and renewable energy (NRE) business line. This expansion effort is carried out through its four subsidiaries, namely PT Green Power Battery (GPB), PT Sustainable Energy Development Trading (SEDT), PT Green Power Precision Indonesia (GPPI), and PT Aceh Mineral Abadi (AMA).
On the operational side, the contribution of the environmentally friendly business line continues to be expanded by the subsidiary SEDT, which focuses on electric vehicle leasing. Currently, the company operates 138 units of two-wheeled electric motorcycles in cooperation with ECGO, as well as 65 units of three-wheeled electric motorcycles with SAFAGO. Furthermore, the provision of supporting infrastructure in the form of 11 units of ECGO battery swap cabinets has also been installed in the Jakarta, Bogor, and Tangerang areas. On the other hand, the conventional business line through GPPI remains stable, focusing on the sale of steel and supporting components for the manufacturing industry.
