PT Barito Renewables Energy (BREN) Q2 2025 earnings summary

Executive summary

• Revenue for the six months ended 30 June 2025 reached $300.1 million, up 3.4% year-over-year, with net profit rising to $82.1 million, a 11.5% increase from the prior year period.

• Total assets stood at $3.77 billion as of 30 June 2025, with equity at $814.8 million and net debt at $1.66 billion, resulting in a gearing ratio of 67%.

• The group completed significant acquisitions in the wind energy sector, including Sidrap Bayu Energi and Barito Wind Operation and Maintenance Indonesia.

Financial highlights

• Revenue increased to $300.1 million from $290.1 million year-over-year, driven by higher electricity and steam sales.

• Net profit attributable to owners was $65.5 million, up from $58.0 million in the prior year.

• EBITDA and operating cash flow remained robust, with net cash from operations at $112.2 million for the period.

• Earnings per share rose to $0.00049 from $0.00043 year-over-year.

• Total borrowings decreased to $2.03 billion from $2.10 billion at year-end 2024.

Outlook and guidance

• Ongoing expansion projects in Salak, Darajat, and Wayang Windu geothermal fields, with major retrofit and development projects scheduled for completion between 2025 and 2026.

• Management expects continued growth in renewable energy output and stable cash flows from long-term power purchase agreements.