Chandra Asri Pacific (TPIA) Q4 2024 earnings summary

Executive summary

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

• The Group faced a challenging year with persistent global petrochemical oversupply, weak demand, and low industry earnings, but maintained financial prudence and strategic initiatives.

Financial highlights

• Revenues declined to US$1,785.4 million in 2024 from US$2,159.9 million in 2023, a 17% decrease year-over-year.

• Gross profit dropped to US$48.3 million from US$81.8 million year-over-year.

• Net loss for 2024 was US$57.3 million, compared to a net loss of US$31.5 million in 2023.

• Total assets stood at US$5,658.9 million as of December 31, 2024, up slightly from US$5,614.5 million at year-end 2023.

• Total equity was US$2,932.7 million, with non-controlling interests at US$298.8 million.

• Basic loss per share was US$0.0010 in 2024, compared to US$0.0005 in 2023.

Outlook and guidance

• The Group continues to prioritize sustainability, digital transformation, and proactive liability management to strengthen its capital structure.

• Despite industry headwinds, the Group is positioned to navigate uncertainty through strategic initiatives and financial discipline.