Chandra Asri Pacific (TPIA) Q2 2025 earnings summary

Executive summary

• Achieved USD 1.6 Bn net income in 1H2025, driven by strategic acquisitions, including ACE, and operational expansion.

• Completed major M&A transactions: Aster Chemicals and Energy (ACE), Chevron Phillips Singapore Chemicals, and Condensate Splitter Unit.

• Infrastructure arm, Chandra Daya Investasi (CDIA), successfully listed on IDX, raising USD 145.6 Mn with record oversubscription.

• Maintained strong access to capital markets, securing favorable financing and diversifying funding sources.

• Achieved significant sustainability milestones, including GHG intensity reduction and multiple ESG awards.

Financial highlights

• Total revenue surged 238% year-over-year to USD 2,926 Mn in 1H2025.

• Net profit after tax increased by 3,402% year-over-year to USD 1,626.2 Mn, supported by a US$1,772.2 Mn gain from bargain purchase of ACE.

• Total assets rose to USD 10,685 Mn as of June 30, 2025, from USD 5,659 Mn at FY2024.

• Cash and cash equivalents increased to USD 2,684.5 Mn as of June 30, 2025, from USD 1,367.1 Mn at December 31, 2024.

• Retained earnings grew 2.8x and shareholders' equity increased 1.7x year-over-year.

Outlook and guidance

• Plans to complete CA-EDC project by end of 2026, with commercial operations starting early 2027.

• Focus on further strategic acquisitions, capacity upgrades, and infrastructure investments for sustainable growth.

• The Group remains focused on operational resilience, strategic adaptability, and disciplined execution of strategic priorities.

• Continued integration of global-standard sustainability roadmap into core strategy.

• The global petrochemical industry faces persistent overcapacity and weak demand, with China’s capacity additions pressuring margins.