PT Barito Pacific (BRPT) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended September 30, 2024 was US$1,677.1 million, down from US$2,112.4 million year-over-year, reflecting weaker petrochemical demand and lower sales volumes.

• Net profit for the period was US$60.9 million, a significant decrease from US$96.8 million in the same period last year.

• The Group continued to diversify its business portfolio, expanding into renewable energy and infrastructure, and completed several acquisitions in the wind and geothermal sectors.

Financial highlights

• Gross profit for the period was US$381.6 million, down from US$421.6 million year-over-year.

• Operating profit before tax was US$151.6 million, compared to US$201.1 million in the prior year.

• EBITDA and EBIT margins declined due to higher finance costs and lower sales.

• Earnings per share for the period was US$0.00029, down from US$0.00038 year-over-year.

• Total assets as of September 30, 2024 were US$10,190.3 million, with equity of US$4,114.0 million.

Outlook and guidance

• The Group remains optimistic about recovery in petrochemical demand as China reopens and global supply chains stabilize.

• Expansion into renewable energy and infrastructure is expected to support long-term growth.

• The Group continues to prioritize operational efficiency, digital transformation, and ESG initiatives.