Pt Barito Pacific Tbk · IDX:BRPT
Pt Barito Pacific Tbk — Mandiri Investment Forum 2023
28 slides from Pt Barito Pacific Tbk's conference presentation, 2023
Slide 1: Impact Beyond Returns – Mandiri Investment Forum 2023
Impact Beyond Returns Mandiri Investment Forum 2023 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: Key Discussions
Key Discussions Group Overview & Latest Key Updates 01 Petrochemicals - CAP Energy – Barito Renewables (Star Energy) 1 02 03 Barito Pacific Transformation 3
Slide 4: Barito Pacific Overview
Barito Pacific Overview ● Listed on the IDX since 1993, Barito Pacific has a market Group Structure capitalization of c.US$4.9bn as at 30 Sep 2022 ● Barito Pacific’s largest shareholder is Prajogo Pangestu with a 70.86% stake as at 30 Sept 2022 ● Rating Pefindo: idA+ (Stable) Petrochemicals Energy P
Slide 5: Petrochemicals
01 Petrochemicals Large war chest & long runway for multi-year growth 5
Slide 6: Latest Key Dynamic Factors
Latest Key Dynamic Factors Having endured significant volatility in the petrochemical industry in the past, the addition of an energy business pillar provides a balancing act to our consolidated performance Petrochemical Spread Run rates & Sales Contribution Oil Price & EBITDA Polyethylene spread Po
Slide 7: Large War Chest To Aid Organic & Inorganic Growth Opportunities
2 Large War Chest To Aid Organic & Inorganic Growth Opportunities Robust Liquidity Pool Ample Liquidity as cushion; Organic expansions US$ million • Strong liquidity provide buffer against uncertain times US$2,300 • Well-prepared for full-throttle recovery mode in the petrochemical sector 1,144 • Se
Slide 8: 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 9: Petrochemical Growth Roadmap
Petrochemical Growth Roadmap Expanding capacity to deliver sustainable growth ahead Cracker Merger New PE, SSBR Expansion with TPI & PP MTBE BD Plant Cracker operation, & Increase expansion, and CAP2* Operation Expansion BD Acquisition PE Furnace Butene-1 expansion of SMI Capacity revamp 8,950 8,950
Slide 10: Energy
02 Energy Geothermal - best positioned to support transition to green energy 10
Slide 11: A New Milestone Achieved through Group Consolidation
A New Milestone Achieved through Group Consolidation Corporate structure (simplified) Corporate structure (simplified) Restructuring & Consolidation Before After Barito Renewables Energy (BREN) Green Era • BREN to strengthen BRPT’s position as Green Era leading domestic integrated energy 66.67% 33.3
Slide 12: 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 +/- 29GW potential capacity ~2.3GW Indonesia, but only ~4% in utilization. 4 Installed cap
Slide 13: Portfolio of Geothermal Assets
Portfolio of Geothermal Assets BREN currently operates 885MW 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 76.1%
Slide 14: 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 15: Geothermal – Most Reliable with Baseload Generation Capabilities
Geothermal – Most Reliable with Baseload Generation Capabilities Capacity & Generation 2021 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 2,131
Slide 16: Energy Operating Performance
Energy Operating Performance Star Energy Geothermal Operating Assets – Average Net Capacity Factor Wayang Windu Salak Units 1 to 3 (IP operated turbine) Salak Units 4 to 6 (1) 99% 99% 97% 97% 95% 97% 95% 97% 93% 88% 90% 81% 2019 2020 2021 9M22 2019 2020 2021 9M22 2019 2020 2021 9M22 Darajat Unit 1 (
Slide 17: At Critical Mass
At Critical Mass EBITDA & Margin Reaching Critical Mass 82.15% EBITDA EBITDA Margin Ability to grow geothermal assets portfolio via 441 brownfield & greenfield developments, and acquisitions 79.76% 79.63% Highly experienced technical team with strong 78.68% capabilities across steam field 416 415 40
Slide 18: Barito Pacific
03 Barito Pacific Fostering resilience & sustainable growth through balance pillars 18
Slide 19: Roadmap For Expansions
Roadmap For Expansions Best positioned to benefit from long runway of multi-year organic growth Petrochemical Geothermal Indo Raya Tenaga (PLTU) • CAP 2nd Petrochemical Complex Pipeline projects: USC Coal-fired: • Appointed Thai Oil as strategic partner • 2023: +15MW Salak Binary Plant • 2 x 1,000MW
Slide 20: Diversified Portfolio Mix
Diversified Portfolio Mix Revenue contribution of Barito Pacific EBITDA contribution of Barito Pacific While revenue generation stems mostly from the petrochemical segment… … Barito group's operating income is more secure due to geothermal segment’s high profitability profile. 9M22 83% 18% 9M22 3.1%
Slide 21: Strong Funding Capability Track Record
5 Strong Funding Capability Track Record Funding activities Capex (US$ billion) Clear path to greater EBITDA • Successful raised series of funding to support expansions • Heavy green capex spending over the period of 2015- EBITDA in US$ million +MW 2022 (70% of accumulated) Petrochemical • Geared to
Slide 22: Safeguarded Capital Structure Amid Expansions
5 Safeguarded Capital Structure Amid Expansions Net Debt to Equity (x) Fixed vs. Floating (%) 16% 17% 17% 1.0x limit 60% 54% 79% 84% 83% 83% 0.65 0.72 0.61 0.59 46% 0.42 40% 21% 2017 2018 2019 2020 2021 9M22 2018 2019 2020 2021 9M22 Fixed Floating Debt to Capital (%) Debt composition 50% 48% 49% IDR
Slide 23: Growth Through Partnership
5 Growth Through Partnership Energy Petrochemicals Partners Partners ■ Partnered with Star Energy on the acquisition of Salak and Darajat ■ Acquired 30% stake in CAP in 2011 geothermal assets from Chevron on 31 March 2017 ■ Currently owns a 30.57% stake in CAP ■ Sharing of technical and operational
Slide 24: Purposeful Growth – ESG
Purposeful Growth ESG - On the path of continuous improvement Rating Provider 2020 Score 2021 Score 2022 Score Target MSCI ESG LEADERS √ BB BBB A Maintain Sustainalytics (BRPT) 34.1 (High Risk) 27.2 (Medium Risk) 27.2 (Medium Risk) 15 - 20 (Low Risk) Sustainalytics (TPIA) Not rated Not rated 17.7 (L
Slide 25: 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 26: Barito Pacific NAV
Barito Pacific NAV Delivering Impact Beyond Returns to Generate Shareholder Value US$ Million 8,000 Adjusted NAV 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 NAV is calculated based on sum-of-the-parts of TPIA current market cap and book value of Star Energy 26
Slide 27: Q&A
J Barito Pacific é Q&A S chandra Asri Ben. 27
Slide 28: 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 28