Pt Barito Pacific Tbk · IDX:BRPT
Pt Barito Pacific Tbk — 6M24 Earnings Presentation
27 slides from Pt Barito Pacific Tbk's earnings presentation, August 2024
Slide 1: Impact Beyond Returns – FY6M24 Earnings Call
Impact Beyond Returns FY6M24 Earnings Call Presentation to Analysts and Investors PT Barito Pacific Tbk Aug 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: Agenda
Agenda Latest Key Updates 01 FY6M24 results summary Operational metrics 1 02 03 Business Updates & Growth Strategy 3
Slide 4: Results Summary
J Barito Pacific S FY22 Results Summary S chandra Asri Barito Renewables e
Slide 5: Key Dynamic Factors
Key Dynamic Factors Operational recovery and resilient profile of energy segment helped offset the soft prices of petrochemical products Petrochemical Spread to Naphtha Run rates & Capacity Factor Oil Price & EBITDA > 90% 99 99 95 93 88 82 83 55% 71 Before SEG 64 58 52 47 47 37 1Q22 2Q22 3Q22 4Q22 1
Slide 6: 6M24 Financial Summary
6M24 Financial Summary Revenue EBITDA EBITDA Margin Net profit after tax US$1,159m US$271m 23.4% US$50m -15.6% -22.3% -2pp -39.0% 1.374 349 1.159 25,4% 271 23,4% 82 50 6M23 6M24 6M23 6M24 6M23 6M24 6M23 6M24 Volatile environment in the petrochemical industry prolonged by uncertainty on China’s econo
Slide 7: Continued Fruition of Transformed Portfolio to Resilient Segment
Continued Fruition of Transformed Portfolio to Resilient Segment Revenue contribution 6M24 EBITDA contribution 6M24 EBITDA breakdown 2018-6M24 Chandra Asri Others 25,3% 23,4% 22,2% Pacific 2% Barito 7% 797 16,0% Renewables Others 356 25% 0% 612 130 475 502 476 441 271 248 Chandra Asri Pacific Barito
Slide 8: Safeguarded Capital Structure Amid Expansions
5 Safeguarded Capital Structure Amid Expansions Net Debt to Equity (x) Fixed vs. Floating (%) 100% 90% 16% 17% 29% 31% 34% 80% 1.0x limit 70% 60% 54% 60% 79% 0,73x 50% 0,65x 0,63x 0,60x 0,59x 40% 84% 83% 71% 69% 66% 30% 20% 40% 46% 0,18x 10% 21% 0% 2017 2018 2019 2020 2021 2022 2023 6M24 2019 2020 2
Slide 9: Key operational updates
02 Key operational updates Utilization rate & Capacity factor 9
Slide 10: Market product prices
Market product prices Spreads Generally Enhanced with Rising Overall Product Prices (all figures in US$/T) OLEFINS POLYOLEFINS OTHERS Ethylene Propylene Naphtha 1.427 Polyethylene Polypropylene Naphtha SM Butadiene Naphtha 1.389 1.177 1.198 1.309 1.134 1.094 1.073 1.014 980 1.015 941 865 971 779 812
Slide 11: Operating Rates
Operating Rates Scheduled Turnaround Maintenance in 2Q23 to ensure reliability of operation in years to come Naphtha Cracker Polyethylene Plant Polypropylene Plant Styrene Monomer Plant 80% 81% 88% 47% 55% 68% 63% 58% YTD June-23 YTD June-24 YTD June-23 YTD June-24 YTD June-23 YTD June-24 YTD June-2
Slide 12: Production and Sales
Production and Sales Softer production due to Turnaround Maintenance Production Sales (all figures in KT) (1) Ethylene Polyethylene Plant Polypropylene Plant Styrene Monomer Plant 358 300 313 210 198 209 258 243 200 205 105 104 98 102 34 4 YTD June-23 YTD June-24 YTD June-23 YTD June-24 YTD June-23
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 99% 99% 97% 97% 100% 99% (1) 95% 97% 95% 97% 95% 97% 93% 96% 88% 90% 90% 86% 2019 2020 2021 2022 2023 6M24 2019 2020 2021 2
Slide 14: Business Updates & Growth Strategy
03 Business Updates & Growth Strategy Expansions plan & Asset consolidation 14
Slide 15: Revenue Addition from Inorganic Expansions
5 Revenue Addition from Inorganic Expansions Revenue generation of US$2.5b-US$3b Continuous transformation to foster resilience with additional revenue with cyclicality nature generation of ~ US$625 million per year post 2018 +US$450-500m + ~US$100m +~US$20-25m US$ Billion Acquisition of Star Energy
Slide 16: Stronger Growth Profile through Diversification
5 Stronger Growth Profile through Diversification Stronger Resilience Growth Profile with Capability to further Seize New Growth opportunities 2011-2017: Post CAP Integration & Expansions 2018-Current: Post Initial Diversification to Energy Avg. Revenue contribution Avg. EBITDA contribution Avg. Rev
Slide 17: Petrochemical: Strategic Positioning to support 2045 Golden Indonesia Vision
Petrochemical: Strategic Positioning to support 2045 Golden Indonesia Vision Commodity & Basic Materials Opportunities Strategic Direction Regional Player with capacity to cater • Low PE & PP Consumption per capita Ample room for organic expansions attractive growth potential in domestic and • Highe
Slide 18: Chemical & Infrastructure
1 Chemical & Infrastructure Pursuing organic and inorganic opportunity Infrastructure Chemical Power Plant Floating Solar Floating Solar Farm Farm World Scale Chlor Alkali Shell Energy & Chemical Park K ton/year K ton/year MW 22,4 500 8.672 400 (1) 200 400 MW 300 9,6 8.501 120 200 KDL KDL + KPE KPE
Slide 19: Chemical & Infrastructure: Establishing Stronger Presence in The Region
1 Chemical & Infrastructure Establishing Stronger Presence in The Region Seamlessly Integrating Organic Growth and Strategic Acquisitions 9.572 9.572 900 ~5x Revenue Growth projected from 2024-2026 8.672 8.5 01 Total Production Volume ‘000 ton 4.061 4.232 4.232 4.232 3.301 3.301 3.458 - 603 2.576 2.
Slide 20: Energy: Long Runway for Multi-Years Growth
2 Energy: Long Runway for Multi-Years Growth Power Generation Opportunities Strategic Direction Captive market with long-term contract and Potential B2B Capacity expansions through take or pay provide growth stability organic & inorganic strategy Diverse opportunities to increase market reach 1 Attr
Slide 21: Energy
2 Energy Investing in all shades of green to support government transition program Geothermal Wind USC Coal-fired: • 2024: +14MW Salak Binary Plant • Development of wind power of Sidrap • 2 x 1,000MW Ultra Supercritical Coal-fired • Retrofit on existing assets II, Sukabumi, and Lombok with power pla
Slide 22: Property
3 Property Early stage development to seize FDI Opportunity Patimban Industrial Estate Residential • Strategic Asset Location adjacent to the Patimban Deep Sea Port • Exclusive residential with six cluster • Join venture development of 350ha landbank • +/-27ha 1st phase of a land plot in Patimban Po
Slide 23: Q&A
J Barito Pacific é Q&A 23 S chandra sri Barito Renewables J
Slide 24: 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
Slide 25: 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$3.05b • Secured equity commitment to progress CAP2, in light of the observed volatilit
Slide 26: Consistency for Lasting Growth
5 Consistency for Lasting Growth Relentless pursuit of growth through organic & inorganic expansions 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 Pipeli
Slide 27: Strong Funding Capability Track Record
5 Strong Funding Capability Track Record 52 …355 …626- - … -394 …194 … …………… 1… 2 A… US$1 million 4 1 21 5 Funding activities , , 9,,, 3 8 6 9 6 10 4 4 6 5 29 • Successful raised series of funding to support expansions 8 7 9 84 • Heavy green capex spending over the period of 2015-2023 (70% of accumu