Pt Indika Energy Tbk · IDX:INDY
Pt Indika Energy Tbk — 9M25 Earnings Presentation
45 slides from Pt Indika Energy Tbk's earnings presentation, October 2025
Slide 1: Company Update 9M25 Results
Company Update 9M25 Results PT Indika Energy Tbk. October 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: Operational Performance – 9M25
Operational Performance – 9M25 2025 2025 Budget 9M25 Operational Data Guidance 9M25 9M24 % CAPEX (US$M) (US$M) Budget Kideco 16.0 5.0 31.3% KIDECO Interport 7.0 3.8 54.3% Production (MT) 30.0 22.2 23.4 -4.5% IMP 10.3 2.6 25.2% Newcastle Benchmark ($/ton) 130.0 104.5 133.9 -22.0% Tripatra -- 6.5 Na I
Slide 5: Indika Energy’s Consolidated Income Statement Highlights
Indika Energy’s Consolidated Income Statement Highlights Year To Date Summary P&L 3Q25 3Q24 YoY 2Q25 QoQ 9M25 9M24 YTD YoY Revenues 486.2 587.4 -17.2% 467.2 4.1% 1,443.0 1,784.2 -19.1% COGS (425.1) (517.6) -17.9% (398.2) 6.8% (1,249.2) (1,514.8) -17.5% Gross Profit 61.0 69.9 -12.7% 69.0 -11.5% 193.7
Slide 6: Business Highlights – Revenue Contribution
Business Highlights – Revenue Contribution Non-coal revenue grew 24.2% YoY to US$293.5m in 9M25 Revenue 9M25 Revenue 9M24 Non-coal Non-coal 13% 19% 3% 2% 3% 9% 0% 2% Kideco 2% 12% Other Coal Tripatra 10% 5,8% Interport-Ex Cotrans 5% Minerals & IIR Non-coal Green Bus & Oth 13,6% 78,1% 7,1% 76% 77% Co
Slide 7: 9M25 Business Highlights – Revenue Breakdown
9M25 Business Highlights – Revenue Breakdown 9M25 9M24 YoY Subsidiaries Remarks (US$ mn) (US$ mn) Chg FOB ASP ▼ 14.7% to US$49.4/ton in 9M25 compare to US$57.9/ton in 9M24, Sales Volume ▼ 4.3% to 22.2MT in 9M25 Kideco -18.0% 1,152.4 1,404.9 (ICI-3: US$62.5/ton in 9M25 vs US$74.6/ton in 9M24; ICI-4:
Slide 8: 9M25 Business Highlights- Gross Profit/ Margin
9M25 Business Highlights- Gross Profit/ Margin 9M25 9M24 YoY Subsidiaries Remarks (US$ mn) (US$ mn) Change Gross Profit 193.7 269.4 -28.1% Gross Margin (%) 13.4% 15.1% FOB ASP ▼ 14.7% to US$49.4/ton in 9M25 compare to US$57.9/ton in 9M25, Sales Volume ▼ 4.5% to 22.2 MT in 9M25; Kideco 155.6 217.5 -2
Slide 9: Thermal Coal Price (2024-2025, US$/t)
Thermal Coal Price (2024-2025, US$/t) 142.7 146.4 145.0 139.5 141.5 134.0 135.1 128.2 129.2 130.0 126.6 124.0 124.2 123.0 119.8 121.8 115.8 111.5 130.4 131.2 106.5 110.2 125.9 125.0 123.0 125.2 122.5 101.9 104.4 121.1 115.6 96.6 114.1 115.3 114.4 94.0 100.8 109.8 99.8 102.5 101.5 103.0 79.4 79.0 78.
Slide 10: New Royalty Tariff has been Approved by the Government
New Royalty Tariff has been Approved by the Government • On 11 April 2025, the government of Indonesia has approved changes on the royalty scheme for IUPK, in line with the earlier proposal. • With the issuance of government regulation (PP No 18 Th 2025) effective as of 26 April 2025, coal will be s
Slide 11: Strong Cash Position supports sound Balance Sheet
Strong Cash Position supports sound Balance Sheet Total Consolidated Cash Total Consolidated Debt US$m US$m 898 1,062 1,056 1,045 863 1,004 Other Loans 638 1) Cash & 565 579 520 572 561 Bank Loans Other Financial assets Notes 2024 0 Notes 2025 455 455 455 455 Notes 2029 Jun-24 Sep-24 Dec-24 Sep-25 D
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 facility of US$300m US$m 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 offe
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$375 million from consortium banks • Appointed Macmahon Holding Ltd as the
Slide 18: Diversification Investments – Minerals
Diversification Investments – Minerals Development Progress: • Land acquisition of 1,444 ha land required for project development has been 99.6% completed as of June 25 . All critical land area has been acquired. • Construction – EPC & CPM by Petrosea DED Temporary Magazine Temporary Camp Ac
Slide 19: Awakmas Project – Construction of Processing Plant
Awakmas Project – Construction of Processing Plant 19
Slide 20: Awakmas Project – Construction of Processing Plant
Awakmas Project – Construction of Processing Plant 20
Slide 21: Awakmas Project – Construction of Processing Plant
Awakmas Project – Construction of Processing Plant 21
Slide 22: Awakmas Project – Construction of Processing Plant
Awakmas Project – Construction of Processing Plant 22
Slide 23: Diversification Investments – Minerals Bauxite Mine
Diversification Investments – Minerals Bauxite Mine • Bauxite mine in W. Kalimantan • Est. Reserve: 5.7 WMT • Est. Resources: 30 WMT • Strategic partnership with Nanshan Aluminium International Holding (2610 HK) Mekko – Bauxite Volume kDMT ASP (US$/t) 500.0 24.2 24.5 450.0 23.6 433.2 24.0 400.0 23.5
Slide 24: 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 25: 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 26: 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 27: 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 28: 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 28
Slide 29: 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 29
Slide 30: 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 31: 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 32: 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 33: 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 34: 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 35: 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 36: 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 37: 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 AA Indika Energy has achieved a rating upgrade in MSCI from BBB to A. The improvement A A reflects our progress in managing carbon BBB BBB BBB
Slide 38: ESG performance - 9M25
ESG performance - 9M25 Parameter Unit % Target ∆ 2025 Target 9M25 Scope 1 & 2 GHG emissions ktCO2eq -25% 903 607 tCO2eq / ton coal production -10% 0.03 0.027 Emissions intensity tCO2eq / USD million revenue -50% 396 420.78 Renewable energy mix % - 30% 37.40% Water withdrawal intensity ML / USD milli
Slide 39: Our performance to date: staying on course toward 2025 target
Our performance to date: staying on course toward 2025 target Scope 1 & 2 GHG emissions Scope 1 and 2 GHG emissions 1,203 1,201 ▼ 32.72% ktCO2eq 1,161 1,030 Target: Reduce scope 1 and 2 emissions 915 903 by 25% in 2025 and by 33% in 2030 810 (projections) 607 GHG emissions per coal production ▼ 17.4
Slide 40: Our performance to date: staying on course toward 2025 target
Our performance to date: staying on course toward 2025 target Water withdrawal intensity Water withdrawal Water withdrawal intensity Cumulative land reclamation Non-hazardous waste diversion ▼ 63.10% megaliters megaliters/ million USD revenue hectares rate (%) Target: Reduce water withdrawal 1.52 1.
Slide 41: 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 42: 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 43: 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 44: 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 44
Slide 45: Thank You
INDIKA_ | NET-ZERO 33 Thank You 45