PT Barito Renewables Energy (BREN) Q4 2024 earnings summary

Executive summary

• Consolidated financial statements for the years ended 31 December 2024 and 2023 were audited and received an unqualified opinion, confirming fair presentation in accordance with Indonesian Financial Accounting Standards.

• The group completed significant acquisitions, including a 99.99% stake in PT UPC Sidrap Bayu Energi (SBE) and other wind and geothermal assets, expanding its renewable energy portfolio.

• The group operates geothermal and wind power plants, with all electricity and steam sales contracted to PLN under long-term agreements.

Financial highlights

• Revenue for 2024 was $596.8 million, up slightly from $594.9 million in 2023.

• Net profit attributable to owners was $122.1 million in 2024, up from $107.4 million in 2023.

• Total assets increased to $3.79 billion at year-end 2024 from $3.51 billion in 2023.

• Operating cash flow was $268.4 million in 2024, up from $227.2 million in 2023.

• Dividends paid to shareholders totaled $48.5 million in 2024.

Outlook and guidance

• The group continues to invest in geothermal and wind projects, with several major developments and retrofits underway, including binary power plants and drilling services.

• Management expects continued stable revenue from long-term contracts with PLN and ongoing expansion in renewable energy capacity.