PT Indika Energy (INDY) Q2 2026 earnings summary

Executive summary

• Revenue for 6M26 rose 19.9% year-over-year to $1,147.0 million, with non-coal revenue up 38.8% to $260.2 million, now 21.9% of total revenue.

• Net profit attributable to owners surged 354.3% year-over-year to $10.2 million for 6M26, while overall net profit for the period was $24.4 million, more than doubling from the prior year.

• Gross profit increased 36.5% year-over-year to $181.2 million, with gross margin improving to 15.8%.

• Strong cash position of $721 million and consolidated debt of $1,254 million as of June 2026.

• Operating cash flow improved to $52.0 million from $32.7 million year-over-year, reflecting stronger collections and disciplined cost management.

Financial highlights

• Adjusted EBITDA for 6M26 was $139.1 million, up 43.8% year-over-year.

• Operating profit for 6M26 reached $99.0 million, an 82.9% increase year-over-year.

• Gross margin improved to 15.8% from 13.9% in 6M25.

• Net profit margin for 6M26 was 0.9%, up from 0.2% in 6M25; overall net margin was 2.1% (up from 1.1%).

• Total assets as of June 30, 2026 were $3.23 billion, up from $2.93 billion at year-end 2025.

Outlook and guidance

• Targeting over 50% revenue from non-coal businesses by 2028.

• Management expects continued revenue growth in the second half of 2026, supported by robust coal demand, expansion in renewable energy, and new infrastructure projects.

• Ongoing expansion in gold mining, bauxite, renewables, and EV ecosystem.

• Continued focus on ESG, aiming for net-zero emissions by 2050.

• Geopolitical volatility and global logistics costs are being closely monitored for potential impacts.