Analysis The Impact of Net Sales and Production Costs on PT Pertamina (Persero)’s Net Profit Performance

Abstract

This study investigates the influence of Net Sales and Production Costs on the Net Profit of PT Pertamina (Persero) during the 2020–2024 period. The research aims to analyze whether Net Sales positively affect profitability and whether Production Costs exert a negative impact, both individually and simultaneously. A quantitative associative research design was employed using secondary data obtained from Pertamina’s official financial reports for 2020–2024. The data were analyzed through Multiple Linear Regression using the Statistical Package for the Social Sciences (SPSS) software, supported by partial (t-test) and simultaneous (F-test) analyses. The results indicate that Net Sales (X₁) partially have a significant effect on Net Profit (Y), while Production Costs (X₂) partially show no significant effect. However, both variables simultaneously demonstrate a significant influence on Net Profit, with the F-test result (F = 2093.036; sig = 0.001 ≤ 0.05) confirming the hypothesis. These findings imply that Pertamina’s profitability is largely determined by the balance between maximizing revenue through Net Sales and managing Production Costs efficiently, especially amid global oil price volatility and government energy subsidy obligations. Academically, this research enriches financial accounting literature concerning profitability determinants in state-owned enterprises within the energy sector. Practically, it provides managerial insight for Pertamina to strengthen cost control and optimize sales strategies to sustain profit stability in a fluctuating global energy market.