Pt Barito Pacific Tbk · IDX:BRPT
Pt Barito Pacific Tbk — Investor Presentation (March 2024)
37 slides from Pt Barito Pacific Tbk's investor presentation, March 2024
Slide 1: Impact Beyond Returns
Impact Beyond Returns Presentation to Analysts and Investors PT Barito Pacific Tbk Mar 2024
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by the management of PT Barito Pacific Tbk. (“Barito Pacific” or the “Company”) for information purposes and contains general background information about Barito Pacific group including forward-looking statements on its business, financial condition and
Slide 3: Latest Key Updates – Continuing Our Journey of Transformation
Latest Key Updates– Continuing Our Journey of Transformation. Unlocking new growth opportunities via downstream expansion and Advancing Green Milestone portfolio diversification Completed acquisition KDL (70%) & KTI (49%) IPO Barito Renewables with US$200 million total proceed ~3,000 lps water 120MW
Slide 4: Key Discussions
Key Discussions Group Overview & Latest Key Updates 01 Group structure & overview 02 Petrochemicals - CAP Energy – Barito Renewables (Star Energy) 1 03 04 Barito Pacific Transformation 4
Slide 5: Barito Pacific at a Glance
Barito Pacific at a Glance ● Listed on the IDX since 1993, Barito Pacific has a market capitalization of Group Structure c.US$8bn as at 31 Dec 2023 ● Barito Pacific’s largest shareholder is Prajogo Pangestu with a 70.86% stake as at 30 Jun 2023 ● Rating Pefindo: idA+ (Stable) Petrochemicals Energy P
Slide 6: More than 40 years participation in national development
More than 40 years participation in national development Transforming as market leader in Petrochemical and Energy 1979 2011 2015 2018 2020 2022 ▪ Barito Pacific ▪ Chandra Asri and Tri ▪ Expansions of naphtha cracker ▪ Barito Pacific Acquired ▪ Chandra Asri new plant ▪ Establishment of established P
Slide 7: Petrochemicals
02 Petrochemicals Large war chest & long runway for multi-year growth 7
Slide 8: Chandra Asri's Portfolio
2 Chandra Asri’s Portfolio Chandra Asri (CAP) is Indonesia’s leading chemical and infrastructure solutions company. CAP is the largest integrated petrochemical producer in Indonesia and operate the country’s only Naphtha Cracker, Styrene Monomer, Butadiene, MTBE and Butene-1 plants, supported by cor
Slide 9: Capacities of Petrochemical Producers in Indonesia
Capacities of Petrochemical Producers in Indonesia Capacity ('000 tons per year) s Others Total Ethylene 900 - - - - - - - 900 Propylene 490 - 625 - - - - - 1,115 LLDPE 400 200 - - - - - - 600 HDPE 336 250 - - - - - - 586 Polypropylene 590 - 45 300 - - - - 935 Ethylene Dichloride - - - - 760 380 - -
Slide 10: Petrochemical Organic Growth Roadmap
Petrochemical Organic Growth Roadmap Growth initiatives (2013-2022) Well-positioned to benefit from attractive industry outlook Petrochemical Attractive growth fundamentals 1 2 Market Leader Strategic growth via downstream integration & capacity expansions 7.2% Indonesia RoW 6.2% Import Pertamina Po
Slide 11: Major Projects – Delivering Sustainable & Profitable Growth
Major Projects – Delivering Sustainable & Profitable Growth Future Expansion New PE, CAP2[1] Cracker Merger with SSBR PP Expansion & TPI & BD Plant Cracker operation, MTBE and expansion, 9,850 9,850 Acquisition Increase PE Operation Expansion BD Butene-1 Furnace of SMI Capacity expansion revamp 4,71
Slide 12: CA-EDC Expansion Plans well Underway
2 CA-EDC Expansion Plans well Underway World-scale plant aimed towards supporting the mining requirements of the growing electric vehicle industry Chandra Asri through its wholly-owned subsidiary, Chandra Asri Alkali (“CAA”), is developing the CA- Caustic Soda & EDC Import Balance Overview EDC plant
Slide 13: Energy
03 Energy Geothermal - best positioned to support transition to green energy 13
Slide 14: Portfolio of Geothermal Assets
Portfolio of Geothermal Assets BREN currently operates 886MW geothermal power Top Geothermal Producers Globally South Sekincau Wayang Windu Unit 3 Gunung Hamiding Global Geothermal installed capacity (in MW) 1,185 Status Exploration Status Exploration Status Development 980 932 BREN Ownership 76.88%
Slide 15: Energy Operating Performance
Energy Operating Performance Barito Renewable Geothermal Operating Assets – Average Net Capacity Factor Wayang Windu Salak Units 1 to 3 (IP operated turbine) Salak Units 4 to 6 99% 99% 97% 97% 100% (1) 95% 97% 95% 97% 95% 93% 96% 88% 90% 86% 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 2019 202
Slide 16: A New Milestone Achieved through Group Consolidation & Value creation
A New Milestone Achieved through Group Consolidation & Value creation Corporate structure (Post IPO) Key IPO Milestones 1 End of 2022 : Barito Renewables Energy (BREN) Green Era Public • Holding of all Green Investment 64.7% 23.6% 11.7% • BREN to strengthen BRPT’s position as leading domestic integr
Slide 17: Geothermal Energy – Large Growth Potential
Geothermal Energy – Large Growth Potential Tapping into world’s largest geothermal powerhouse Geothermal Resources & Reserves (as of Dec 2018) • Nearly around 40% of world’s geothermal potential are located in +/- 24GW potential capacity ~2.3GW Indonesia, but only ~4% in utilization. 4 Installed cap
Slide 18: Best Positioned to Support Indonesia Green Energy Transition
Best Positioned to Support Indonesia Green Energy Transition Installed capacity 2020 New Installation Plan 2021-2030 Installed capacity 2030 Geothermal (PLTP); 2,443 ; Other renewable; Other Other Hydropower (PLTA); 5,174 ; 8% 4% 329 ; 1% Solar Farm; 4,680 ; 12% renewable; 2,497 ; 6% 4 Geothermal (P
Slide 19: Barito Renewables Key Growth Strategies
Barito Renewables Key Growth Strategies Maximize resources capacity of Operate existing plants existing mature fields efficiently and at full capacity >90% capacity Factor Capacity addition from existing Operational excellence with baseload generation operational assets of WW, Salak and Darajat capa
Slide 20: Barito Pacific
04 Barito Pacific Fostering resilience & sustainable growth through balance pillars 20
Slide 21: Roadmap For Expansions
Roadmap For Expansions Best positioned to benefit from long runway of multi-year organic growth Petrochemical Energy Indo Raya Tenaga (PLTU) Strong Core Pipeline MW addition: USC Coal-fired: • Expand Chemicals & infrastructure business • 2024: +14MW Salak Binary Plant • 2 x 1,000MW Ultra Supercritic
Slide 22: Fostering Resilience Via the Energy sector
Fostering Resilience Via the Energy sector Poised to preserve position as Indonesia’s leading integrated & diversified energy player Further approach to enhance diversification not only on a group level, but also on the subsidiaries 3,406MW power capacity portfolio, owned both directly and indirectl
Slide 23: Continuing our Voyage of Value Creation
5 Continuing our Voyage of Value Creation Energy portfolio provide stronger resilience to BRPT’s consolidated EBITDA US$ million Clear Roadmap For Expansions Initial transformation through the acquisition of Star Energy 2024-2030 Energy 813 797 >1,200MW 402 Renewable capacity 356 595 596 556 515 180
Slide 24: Large War Chest To Aid Organic & Inorganic Growth Opportunities
2 Large War Chest To Aid Organic & Inorganic Growth Opportunities Robust Liquidity Pool Ample Liquidity as cushion; Organic expansions • Well-prepared for full-throttle recovery mode in the petrochemical sector US$2.8b • Secured equity commitment to progress CAP2, in light of the observed volatility
Slide 25: Capex Deployment
5 Capex Deployment Poised to drive and thrive for further growth US$14.6 billion Capex (2015-2023: US$5.1b + 2023-2027: US$9.5b) 33.8% 23.1% 43.2% COD Construction Pipeline Consistent organic expansions with the capacity to liberate inorganic growth avenues Pipeline 2023-2027 Completed (COD) Cracker
Slide 26: Strong Funding Capability Track Record
5 Strong Funding Capability Track Record Funding activities • Successful raised series of funding to support expansions • Heavy green capex spending over the period of 2015-2022 (70% of accumulated) Accumulated • Healthy capital structure amid expansions with robust liquidity position (Based on busi
Slide 27: Safeguarded Capital Structure Amid Expansions
5 Safeguarded Capital Structure Amid Expansions Net Debt to Equity (x) Fixed vs. Floating (%) 100% 90% 16% 17% 29% 33% 80% 1.0x limit 70% 60% 54% 60% 79% 50% 40% 84% 83% 71% 67% 0.82x 30% 0.65x 0.59x 0.63x 20% 40% 46% 10% 21% 0.18x 0% 2017 2018 2019 2020 2021 2022 9M23 2019 2020 2021 2022 9M23 Fixed
Slide 28: Barito Pacific Growth Strategies through Partnership
Barito Pacific Growth Strategies through Partnership 01 01 Key Partners in Energy 1) Partnered with Star Energy on the acquisition of Salak and Darajat geothermal assets from Chevron on 31 March 2017. Acquired 20.00% stake in Wayang Windu in 2012(1) 02 02 2) Partnered with Star Energy on the acquisi
Slide 29: Purposeful Growth
Purposeful Growth ESG - On the path of continuous improvement Rating Provider 2020 Score 2021 Score 2022 Score 2023 Score Target % of revenue MSCI ESG LEADERS √ BB BBB A A Maintain Sustainalytics (BRPT) 34.1 (High Risk) 27.2 (Medium 26.2 (Medium Risk) 24 (Medium Risk) 15 - 20 (Low Risk) 100% Risk) S
Slide 30: Key Summary of Investment Highlights
Key Summary of Investment Highlights Impact Beyond Returns ✓1 ✓2 ✓3 ✓4 ✓5 Fostering resilience & Long Runway For Large scale operations ensure Excellent Asset Quality Robust Capital to support sustainable growth through multi-years both a leadership in the market with strategic location expansions b
Slide 31: Barito Pacific
J Barito Pacific é 31
Slide 32: Thank you
Thank you 3 Office Address: Contact Investor Relation/Corporate secretary PT Barito Pacific Tbk Email: Investor.relations@barito.co.id/Corpsec@barito.co.id Wisma Barito Pacific II, Fl 23 Tel: +6221 530 6711 Jl. Letjen. S. Parman Kav. 62-63 Jakarta 11410 32
Slide 33: Integrated Production of Diverse Products
Integrated Production of Diverse Products Chandra Asri’s products encompass a wide range across the consumer products value-chain, and its leading position & strategic location enhances its competitiveness Capacity (KT/A) Capacity (KT/A) Use (Examples) Capacity (KT/A) Polyethylene Naphtha (736) Ethy
Slide 34: Chandra Asri's Strategic Framework
2 Chandra Asri’s Strategic Framework Performance underpinned by Chandra Asri’s strong track record of execution STRONG CORE MAJOR SPRINTS SUSTAINABLE PATHWAYS Expand chemicals & Take Final Investment Maintain industry infrastructure businesses Decision on CA-EDC as leadership in ESG organically part
Slide 35: Key Dynamic Factors
Key Dynamic Factors Strongly positioned to benefit from the resurgence of the petrochemical industry; Maintaining vigilance in light of high uncertainty Petrochemical Spread to Naphtha Run rates Oil Price & EBITDA +/-90% 102 99 99 95 93 88 83 Before SEG 71 64 424 58 52 344 47 47 37 3Q21 4Q21 1Q22 2Q
Slide 36: Geothermal – Most Reliable with Baseload Generation Capabilities
Geothermal – Most Reliable with Baseload Generation Capabilities Capacity & Generation 2023 Renewable Energy Capacity Factor 94,949 % = Theoretical capacity factor Star Energy 93% 95% 68% Geothermal 80% 90% 54% 52,549 Hydropower 31% 66% 83% > 90% 15,960 15,563 11,156 Thermal Solar 49% 63% 6,912 2,13
Slide 37: Portfolio in Core Pillar
Portfolio in Core Pillar 1 Petrochemical & infrastructure 2 Energy Indonesia’s leading chemical and infrastructure solutions company Indonesia’ leading renewable energy USC-coal power plant Market leading in domestic and South CDI is focused on generating long-term, producer Asia petrochemical with
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