Pt Barito Pacific Tbk · IDX:BRPT
Pt Barito Pacific Tbk — 9M23 Earnings Presentation
25 slides from Pt Barito Pacific Tbk's earnings presentation, November 2023
Slide 1: PT Barito Pacific Tbk 9M23 Earnings Call
PT Barito Pacific Tbk November 2023 9M23 Earnings Call Presentation to Analysts and Investors
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: Agenda
Agenda Latest Key Updates 01 9M23 results summary Operational metrics 1 02 03 Business Updates & Growth Strategy 3
Slide 4: 9M23 Results Summary
J Barito Pacific é 9M23 Results Summary S chandra Asri Barito Renewables e
Slide 5: 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 & Capacity Factor Oil Price & EBITDA > 95% +/-90% 102 99 99 95 93 88 83 Before SEG 71 64 424 58 52 344 47
Slide 6: 9M23 Financial Summary
9M23 Financial Summary Revenue EBITDA EBITDA Margin Net profit after tax US$2,112m US$424m 20.1% US$97mn -11.1% +23.3% +6pp +149% 2.377 2.112 424 20,1% 97 344 14,5% 39 9M22 9M23 9M22 9M23 9M22 9M23 9M22 9M23 1 Volatile environment in the petrochemical industry exacerbated by rekindling risk of geopo
Slide 7: 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$2.8b • Secured equity commitment to progress CAP2, in light of the observed volatility
Slide 8: Safeguarded Capital Structure Amid Expansions
5 Safeguarded Capital Structure Amid Expansions Net Debt to Equity (x) Fixed vs. Floating (%) 100% 90% 16% 17% 29% 33% 80% 1.0x limit 70% 60% 54% 60% 79% 50% 40% 84% 83% 71% 67% 0,82x 30% 0,65x 0,59x 0,63x 20% 40% 46% 10% 21% 0,18x 0% 2017 2018 2019 2020 2021 2022 9M23 2019 2020 2021 2022 9M23 Fixed
Slide 9: Key operational updates: Utilization rate & Capacity factor
02 Key operational updates Utilization rate & Capacity factor 9
Slide 10: Market product prices
Market product prices China's Q3 Economic Slowdown Casts Shadow on Asia's Petrochemical Markets POLYOLEFINS OTHERS (all figures in US$/T) OLEFINS 1.420 1.476 1.413 1.197 1.187 1.384 1.152 1.048 986 1.057 1.096 958 950 882 823 955 882 821 882 821 646 646 646 557 557 557 Polyethylene Polypropylene Eth
Slide 11: Operating Rates
Operating Rates Steadfast and Resilient: Maintaining Robust Operating Rates Despite Market Challenges Naphtha Cracker Polyethylene Plant Polypropylene Plant Styrene Monomer Plant 89% 84% 87% 88% 97% 90% 65% 64% YTD Sep-22 YTD Sep-23 YTD Sep-22 YTD Sep-23 YTD Sep-22 YTD Sep-23 YTD Sep-22 YTD Sep-23 (
Slide 12: Production and Sales
Production and Sales Unwavering Commitment: Sustaining Production Volume for Reliable Market Supply (all figures in KT) Ethylene (1) Polyethylene Plant Polypropylene Plant Styrene Monomer Plant 600 568 (1) 479 491 505 454 427 414 397 390 166 163 162 163 90 44 YTD Sep-22 YTD Sep-23 YTD Sep-22 YTD Sep
Slide 13: 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 98,7% 99,0% 97,0% 96,6% 99,8% (1) 98% 95% 97% 95% 97% 94% 93% 88% 90% 86% 2019 2020 2021 2022 9M23 2019 2020 2021 2022 9M23
Slide 14: Business Updates & Growth Strategy
03 Business Updates & Growth Strategy Expansions plan & Asset consolidation 14
Slide 15: 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 geothermal MW addition: USC Coal-fired: • Expand Chemicals & infrastructure business organically • 2023: +14MW Salak Binary Plant • 2 x 1,
Slide 16: Major Projects – Delivering Sustainable & Profitable Growth
2 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.
Slide 17: 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 64.67% 23.61% 12.0% • BREN to strengthen BRPT’s position as leading domestic inte
Slide 18: Barito Renewables Key Growth Strategies
Barito Renewables Key Growth Strategies Operate existing plants Maximize resources capacity of efficiently and at full capacity existing mature fields >90% capacity factor Capacity addition from existing Operational excellence with baseload generation operational assets of WW, Salak and Darajat ca
Slide 19: 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 indirect
Slide 20: Capex Deployment
5 Capex Deployment Poised to drive and thrive for further growth US$14.6 billion Capex (2015-2023: US$8.4b + 2023-2027: +/-US$6.1b) 33,9% 23,1% 43,0% COD Construction Pipeline Consistent organic expansions with the capacity to liberate inorganic growth avenues Pipeline 2023-2027 8.421 Completed (COD
Slide 21: Strong Funding Capability Track Record
5 Strong Funding Capability Track Record Funding activities • Successful raised series of funding to support expansions • Heavy green capex spending over the period of 2015-2022 (70% of accumulated) Accumulated • Healthy capital structure amid expansions with robust liquidity position (Based on busi
Slide 22: Continuing our Voyage of Value Creation
5 Continuing our Voyage of Value Creation Energy portfolio provide stronger resilience to BRPT’s consolidated EBITDA US$ million Initial Transformation through Clear Roadmap For Expansions acquisition of Star Energy 2023-2027 813 797 402 Energy 356 596 >1,200MW 595 556 Renewable capacity 515 187 180
Slide 23: Purposeful Growth
Purposeful Growth ESG - On the path of continuous improvement Rating Provider 2020 Score 2021 Score 2022 Score Target % of revenue MSCI ESG LEADERS √ BB BBB A Maintain Sustainalytics (BRPT) 34.1 (High Risk) 27.2 (Medium Risk) 26.2 (Medium Risk) 15 - 20 (Low Risk) 100% Sustainalytics (TPIA) Not rated
Slide 24: Q&A
Q&A 24
Slide 25: 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 @baritopacific.id Barito Pacific Tbk Barito-pa