PT Barito Pacific (BRPT) Q4 2024 earnings summary

Executive summary

• Consolidated revenues for 2024 were US$2,386.99 million, down 13.5% year-over-year, mainly due to lower petrochemical sales and weaker global demand.

• Net profit attributable to owners was US$56.48 million, up from US$26.12 million in 2023, despite lower revenues, reflecting improved cost management and higher contributions from associates.

• The group completed the acquisition of PT UPC Sidrap Bayu Energi, expanding its renewable energy portfolio and recognizing significant intangible assets and goodwill.

Financial highlights

• Gross profit for 2024 was US$518.80 million, a decrease from US$558.14 million in 2023.

• Operating profit before tax reached US$232.70 million, up from US$223.22 million in 2023.

• Total assets increased to US$10,532.56 million as of December 31, 2024, from US$10,149.67 million a year earlier.

• Total equity rose to US$4,187.99 million, with non-controlling interests at US$2,460.16 million.

• Cash and cash equivalents at year-end were US$1,606.76 million.

• Earnings per share improved to US$0.00060 from US$0.00028.

Outlook and guidance

• The group expects continued challenges in the petrochemical sector due to global oversupply and weak demand, especially from China.

• Strategic focus remains on sustainability, digital transformation, and expanding renewable energy assets.

• Financial prudence and proactive liability management are prioritized to strengthen capital structure.