PT Indika Energy (INDY) investor relations material

Executive summary

• Achieved Q1/3M26 net revenue of $493.2M, up 0.7% year-over-year, with gross profit rising 16.2% to $74.0M and operating profit up 39.0% to $37.4M.

• Net profit attributable to owners surged 142.3% year-over-year to $7.0M, while overall net profit reached $13.6M, a 34% increase from Q1 2025.

• Non-coal revenue grew 22.4% year-over-year, now comprising 21.9% of total revenue, reflecting ongoing diversification.

• Maintains strong cash position ($898M as of Mar 2026) and active liability management, including refinancing and new note issuances.

• Gearing ratio at 35%, with net debt at $480.9M and total equity at $1.36B.

Financial highlights

• Gross margin improved to 15.0% from 13.0% year-over-year; EBIT margin rose to 7.6% from 5.5%.

• Net profit margin increased to 2.8% from 2.1% year-over-year.

• Kideco contributed $377.4M in revenue (down 5.7% YoY), but gross profit rose 43.3% and net income 63.5%.

• Tripatra revenue up 11.2% YoY, Interport up 53.4% YoY, Indika Resources up 38.3% YoY.

• Earnings per share (EPS) rose to $0.0014 from $0.0006 year-over-year.

Outlook and guidance

• Targeting 50% non-coal revenue by 2028 and net-zero emissions by 2050.

• Ongoing diversification into gold, bauxite, renewables, EVs, and digital businesses.

• Management expects continued growth in coal production and sales, with a government-approved quota of 30.3 million tons for 2026.

• ESG initiatives and operational efficiency expected to drive further improvements.

• Geopolitical risks and global logistics volatility may impact operational costs and supply chain.