Pt Indika Energy Tbk · IDX:INDY
Pt Indika Energy Tbk — 6M25 Earnings Presentation
42 slides from Pt Indika Energy Tbk's earnings presentation, July 2025
Slide 1: Company Update 6M25 Results
Company Update 6M25 Results PT Indika Energy Tbk. July 2025
Slide 2: Indika Energy - To Energize Indonesia for a Sustainable Future
Indika Energy - To Energize Indonesia for a Sustainable Future ✓ An Investment Holding Company with portfolio spanning across Indonesia, from energy resources, logistic and infrastructure, minerals as well as green business. ✓ Well-placed to capture domestic economic growth and global economic recov
Slide 3: Indika Energy has set out bold aspirations as part of its ESG commitment
Indika Energy has set out bold aspirations as part of its ESG commitment 50% Net-Zero emissions by 2050 non-coal revenue by 2028 Notable green initiatives: A leading Indonesian One of The 1st Indonesian One of The 1st Indonesian Investment group company to commit to a Net investment groups Zero targ
Slide 4: Indika Energy's Consolidated Income Statement Highlights
Indika Energy’s Consolidated Income Statement Highlights Year To Date Summary P&L 2Q25 2Q24 YoY 1Q25 QoQ 6M25 6M24 YTD YoY Revenues 467.2 629.4 -25.8% 489.6 -4.6% 956.8 1,196.7 -20.0% COGS (398.2) (523.5) -23.9% (425.9) -6.5% (824.1) (997.2) -17.4% Gross Profit 69.0 106.0 -34.9% 63.7 8.3% 132.7 199.
Slide 5: Business Highlights – Revenue Contribution
Business Highlights – Revenue Contribution Non-coal revenue grew 28.8% YoY to US$186.4m in 6M25 Revenue 6M25 Revenue 6M24 Non-coal Non-coal 12% 2% 19% 2% 0% 2% 3% 2% Kideco 8% 12% Other Coal Tripatra 5,8% Interport-Ex Cotrans 12% 5% Minerals & IIR Non-coal Green Bus & Oth 13,6% 78,1% 77% 76% 7,1% Co
Slide 6: 6M25 Business Highlights – Revenue Breakdown
6M25 Business Highlights – Revenue Breakdown 6M25 6M24 Subsidiaries YoY Change Remarks (US$ mn) (US$ mn) FOB ASP ▼ 14.5% to US$51.2/ton in 6M25 compared to US$59.9/ton in 6M24 Kideco 775.9 926.1 -16.2% Sales Volume ▼ 2.7% to 14.4MT in 6M25, as export to China declined amid weakened import demand Coa
Slide 7: 6M25 Business Highlights - Gross Profit/Margin
6M25 Business Highlights- Gross Profit/ Margin 6M25 6M24 YoY Subsidiaries Remarks (US$ mn) (US$ mn) Change Cash cost ex-royalty dropped 6.6% yoY to US$34.2/ton, on the back of lower strip ratio but higher fuel cost due to implementation of B40 since Jan 2025 Kideco 111.7 162.6 -31.3% Cash cost inc R
Slide 8: Operational Performance – 6M25
Operational Performance – 6M25 2025 2025 Budget 6M25 Operational Data Guidance 6M25 6M24 % CAPEX (US$M) (US$M) Budget Kideco 16.0 2.4 15.0% KIDECO Interport 7.0 2.3 32.8% Production (MT) 30.0 14.5 14.9 -2.7% IMP 10.3 0.8 7.7% Newcastle Benchmark ($/ton) 130.0 102.6 130.6 -21.4% IMG 3.8 0.9 23.7% Kal
Slide 9: Thermal Coal Price (2024-2025, US$/t)
Thermal Coal Price (2024-2025, US$/t) 142.7 146.4 145.0 141.5 135.1 139.5 129.2 130.0 134.0 128.2 125.0 126.6 124.0 109.8 114.1 130.4 131.2 125.9 121.1 123.0 125.2 122.5 124.2 123.0 121.8 119.8 115.3 115.6 115.8 114.4 79.4 79.0 78.2 101.9 100.8 99.8 72.5 73.6 72.7 72.1 72.4 73.3 73.3 72.5 96.6 94.0
Slide 10: New Royalty Tariff has been Approved by the Government
New Royalty Tariff has been Approved by the Government • On 11 April 2025, the government of Indonesia has approved changes on the royalty scheme for IUPK, in line with the earlier proposal. • With the issuance of government regulation (PP No 18 Th 2025) effective as of 26 April 2025, coal will be s
Slide 11: Strong Cash Position supports sound Balance Sheet
Strong Cash Position supports sound Balance Sheet Total Consolidated Cash Total Consolidated Debt US$m US$m 898 1,257 863 1,158 21 21 1,028 1,056 Other Loans 638 580 1) Cash & 585 564 Other 587 573 Bank Loans Financial assets 0 202 Notes 2024 224 0 Notes 2025 455 455 455 Notes 2029 350 Jun-24 Sep-24
Slide 12: Active Liability Management to lengthen maturity
Active Liability Management to lengthen maturity ✓ 3 May 2024: the 2024 Notes was fully repaid bank loan with Debt maturity profile at HoldCo (US$m) facility of US$300m 620 ✓ 7 May 2024: the settlement of the new notes US$350m ✓ 3 July 2024: Tap issuance of US$105m, the company settled the tender of
Slide 13: Our Diversified Business Portfolio
Our Diversified Business Portfolio 13
Slide 14: Indika Energy has developed into an investment company with a sustainable business portfolio
Indika Energy has developed into an investment company with a sustainable business portfolio Logistics & Logistic assets, EPC services, infrastructure, e.g. fuel storage Field exploration of coal resources, Energy Infrastructure production and trading resources Exploration of gold and other metals M
Slide 15: Diversification Investments – Minerals
Diversification Investments – Minerals Developing Gold Asset Project through Masmindo (Awakmas) Infrastructure: • Luwu Regency, South Sulawesi • Project located 45 km from coast • Good access to roads, two ports, airport, and telecommunication • Project to be powered by grid power Concession : • Tot
Slide 16: Diversification Investments – Minerals
Diversification Investments – Minerals Large concession area – currently only 10% being developed Awak Mas Gold Project – Contract of Work 16
Slide 17: Diversification Investments – Minerals
Diversification Investments – Minerals Awak Mas Project • Gold ore reserve of 1.51 Moz and gold ore resources of 2.55 Moz • Open pit mining with drilling and blasting • Has signed refinancing agreement with total funding of US$375 million from consortium banks • Appointed Macmahon Holding Ltd as the
Slide 18: Diversification Investments – Minerals
Diversification Investments – Minerals Development Progress: • Land acquisition of 1,444 ha land required for project development has been 99.6% completed as of June 25 . All critical land area has been acquired. • Construction – EPC & CPM by Petrosea ✓ DED ✓ Temporary Magazine ✓ Temporary Camp ✓ Ac
Slide 19: Diversification Investments – Minerals
Diversification Investments – Minerals Bauxite Mine • Bauxite mine in W. Kalimantan • Est. Reserve: 5.7 WMT • Est. Resources: 30 WMT • Strategic partnership with Nanshan Aluminium International Holding (2610 HK) Mekko – Bauxite Volume kDMT ASP (US$/t) 300.0 23.6 282 24.0 256.6 23.5 250.0 23.0 23.0 2
Slide 20: Green Business - Aims to accelerate Indonesia's EV ecosystem
Green Business - Aims to accelerate Indonesia’s EV ecosystem PT Indika Energy Tbk Other IMG Investors 100% PT Solusi Mobilitas Indonesia Holding of EV Company 100% 100% 100% PT Ilectra Motor Group PT Mitra Motor Group PT Kalista Nusa PT Industri Baterai Armada Holding of Electric 2 Holding of Electr
Slide 21: Kalista - Developing trials for a fleet-as-a-service model
Kalista - Developing trials for a fleet-as-a-service model, working with local governments and bus operators About Kalista’s FaaS model Kalista’s operation and trials with local governments The fleet-as-a-service business model enables Operation : Medan governments, public, and private businesses to
Slide 22: Kalista - To accelerate adoption of EV in Indonesia
Kalista - To accelerate adoption of EV in Indonesia • To separate between ownership and maintenance from operator • Developing fleet-as-service model to accelerate transition to EV, through B2B, B2G as well as public • Usage based on monthly rental, to ease burden of CAPEX • Current segment target i
Slide 23: IMG launched its brand ALVA with its own manufacturing facilities
IMG launched its brand “ALVA” with its own manufacturing facilities and builds experience center Manufacturing Facilities ALVA Experience Center My ALVA App Key Highlights Seamless interconnection experience with enhanced Fully operational manufacturing facilities located in 1st 2W experience cent
Slide 24: IMG already introduced 5 ALVA products
IMG already introduced 5 ALVA products Products ALVA One ALVA One XP Launched in 2022 Launched in 2023 ALVA Cervo ALVA Cervo Boost Charge ALVA Cervo Q Launched in 2023 Launched in 2024 Launched in 2024 24
Slide 25: Launched a new model in Mid segment ALVA N3
Launched a new model in Mid segment “ALVA N3” • ALVA introduced a new model in mid-segment called ALVA N3 • Pricing is competitive compared to market • N3 already adopts boost-charge technology in its battery, capable for 1-hour fast charging 25
Slide 26: Green Business – To support reducing GHG emission in transport sector
Green Business – To support reducing GHG emission in transport sector Indonesia GHG emission from Industrial activities 2011-2022 Indonesia GHG emission shares in Transportation Sector in 2022 • The transport sector stands as the country’s second-largest contributor to greenhouse gas (GHG) emissions
Slide 27: Indonesia's EV – Still in early stage, but fast growing
Indonesia’s EV – Still in early stage, but fast growing EV adoption status and targets E2W growth projection for Jakarta & Bali with IDR 7 million incentive Source: IESR, Indonesia Electric Vehicle Outlook 2023 Source: IESR, ADB, 2022 • EV adoption has been increasing in recent years. In 2022 alone,
Slide 28: Diversification Investments – Green Businesses
Diversification Investments – Green Businesses Indika Nature – Biomass, Agroforestry, Carbon Offset Energy Plantation Environment Services Agroforestry & Non Timber Forest Product • Designated for planting Calliandra trees to • Process of obtaining a carbon credit • Develop agricultural products tha
Slide 29: Indika Nature – Expanding to essential oil business
Indika Nature – Expanding to essential oil business Indika Nature acquired 100% shares in PT Natura Aromatik Nusantara An essential oil producer with the fourth largest exporter in Indonesia located in Solo, Central Java Sector attractiveness due to its traditionality and Products fragmented players
Slide 30: Indika Nature – Expanding to essential oil business
Indika Nature – Expanding to essential oil business One of Top 4th Largest Indonesian Supplier in the F&F Industry With Growing Key Customers •Despite being a relatively new player, Natura has established itself •Natura has relationships with more than 100 multinational customers in as one of the to
Slide 31: Indika Nature – Biomass Energy to produce wood pellet
Indika Nature – Biomass Energy to produce wood pellet DIVA Jaya Bumi Paser 23,590 Ha East Kalimantan Diva Perdana Pesona 29,485 Ha East Kalimantan TMK • Currently in phase I with total TCG planting of 5,000 ha • With average calorific value of 4,200–4,750 kcal/kg, wood pellet is suitable for biomass
Slide 32: Indika Nature – Carbon Business at TMK to support Net Zero Target
Indika Nature – Carbon Business at TMK to support Net Zero Target Location Project Overview • PT Telaga Mas Kalimantan (TMK) is the holder of Forest Concession Rights (IUPHHK-HA (now PBPH) with an area of 82,805 ha, located in Paser Regency, E. Kalimantan Block A • The area is dominated by Meranti t
Slide 33: Diversifying Beyond Coal: Disposals
Diversifying Beyond Coal: Disposals Continued Divestments of Coal and Coal-related Businesses Transaction Date Initiative Description Indicative impact Proceeds – Sale of all shares owned by IIR and ICI in PT Multi Tambangjaya Utama (MUTU) and marketing right held by ICI Divestment of MUTU Feb-2024
Slide 34: Our MSCI rating has been upgraded to A
Our MSCI rating has been upgraded to A Driven by improvements in our environmental and governance practices MSCI ESG score 2025 score: A (previously BBB) AAA Indika Energy has achieved a rating upgrade AA in MSCI from BBB to A. The improvement A reflects our progress in managing carbon A BBB BBB BBB
Slide 35: ESG performance - 6M25
ESG performance - 6M25 Parameter Unit % Target ∆ 2025 Target 6M25 Scope 1 & 2 GHG emissions ktCO2eq -25% 903 435 tCO2eq / ton coal production -10% 0.030 0.028 Emissions intensity tCO2eq / USD million revenue -50% 396 454 Renewable energy mix % - 30% 37.15% Water withdrawal intensity ML / USD million
Slide 36: Our route to achieving net zero emissions (1/2)
Our route to achieving net zero emissions (1/2) Scope 1 & 2 GHG emissions Scope 1 and 2 GHG emissions 1,203 1,201 ▼ 27.72% ktCO2eq 1,161 1,030 Target: Reduce scope 1 and 2 915 870 903 emissions by 25% in 2025 and by 33% in 2030 (projections) GHG emissions per coal production 435 ▼ 13.09% Target: Red
Slide 37: ESG Performance - Our route to achieving net zero emissions
ESG Performance - Our route to achieving net zero emissions Water withdrawal intensity Water withdrawal Water withdrawal intensity Cumulative land reclamation Non-hazardous waste diversion ▼ 52.40% megaliters megaliters/ million USD revenue hectares rate (%) Target: Reduce water withdrawal 1.52 1.52
Slide 38: Indika Energy Mangrove Program in Action
2024 FLAGSHIP PROGRAM From roots to recovery, strengthening climate action through mangrove restoration In partnership with Indika Nature, we are restoring mangroves through a holistic, sustainable approach that supports Indonesia’s carbon neutrality goals - combining ecosystem restoration with comm
Slide 39: Makan Bergizi implementation focus
2024 FLAGSHIP PROGRAM Makan Bergizi implementation focus At its core, it seeks to reduce malnutrition by ensuring regular access to balanced and nutritious meals. The initiative also aims to boost academic performance, supporting better concentration, energy levels, and overall cognitive development
Slide 40: We also expanded our network by joining ESG-related associations
We also expanded our network by joining ESG-related associations Overview Overview The UN Global Compact is a conviction rooted in universal Indonesia Business Council for Sustainable Development principles to help the global marketplace to be more socially and (IBCSD) is a CEO-led association of co
Slide 41: Notes Outstanding
Notes Outstanding Ba 3 Negative Outlook (as of March 2025) The Senior B+ / Stable Outlook Notes are rated: International Ratings (as of April 2025) Indika Energy Tbk. USD5455 mn 8.750% 5-year Senior Notes Reg S / 144A due 2029 May 2024 41
Slide 42: Thank You
INDIKA_ | NET-ZERO|% Thank You 42