Barito Pacific H1 profit falls as refinery, energy drive revenue growth
Friday, July 31 2026 - 07:47 PM WIB
By Rara Suratmi
PT Barito Pacific Tbk (IDX: BRPT) reported a consolidated net profit after tax of US$518 million for the first half of 2026, down nearly 70% from US$1.72 billion a year earlier, as strong refinery operations, the integration of fuel retail assets in Singapore and higher contributions from its renewable energy business were offset by an exceptionally high earnings base in the prior-year period.
The diversified energy and industrial group posted revenue of US$5.69 billion for the January–June period, up 76.1% from US$3.23 billion a year earlier. Revenue from its petrochemical business surged 83.6% to US$5.35 billion, while revenue from its energy segment rose 11.3% to US$334 million.
Earnings before interest, taxes, depreciation and amortization (EBITDA) totaled US$1.08 billion, down 45.1% year-on-year, while the EBITDA margin narrowed to 19.1% from 61.1% in the same period last year.
Net profit attributable to the company's shareholders fell 64.8% to US$190 million, compared with US$540 million a year earlier.
Barito Pacific said revenue growth was primarily driven by the strong performance of its subsidiary Chandra Asri Group, reflecting robust refinery margins and the successful integration of ExxonMobil's retail fuel assets in Singapore. Its renewable energy business also benefited from increased geothermal generation following capacity upgrades and stronger wind power output.
President Director Agus Pangestu said the company's integrated energy, chemicals and infrastructure portfolio enabled it to navigate volatile global market conditions while maintaining disciplined execution and capturing opportunities across its businesses.
The company said it maintained a healthy balance sheet, with net debt-to-equity stable at 0.76 times, providing financial flexibility to support ongoing expansion projects. As of the end of June, total assets stood at US$18.95 billion, while total liabilities reached US$12.46 billion and total equity increased to US$6.49 billion.
Editing by Rara Suratmi