Here’s a comprehensive breakdown of PT Barito Pacific Tbk (IDX: BRPT):
Controlling shareholder: Prajogo Pangestu.
He increased his stake from ~69.05 % to 71.19 % in June 2024 through a 2 billion‑share purchase .
Earlier, in March 2024, he sold ~2 billion shares, reducing from ~71.19 % to ~69.05 % .
Other notable investors: BlackRock and UBS were reported to have been active buyers in late 2023 .
From Q1 2025 unaudited results :
Revenue: US $774 million, up 25 % YoY
EBITDA: US $140 million, up 3.7 % YoY
Net income: US $30 million (114 % YoY growth)
Margins:
Gross margin: 16 % (down from 19 %)
EBITDA margin: 18.2 % (down from 20.5 %)
🔍 Insight: Strong revenue growth driven by petrochemicals, but margins slightly under pressure—likely due to feedstock and utility cost increases slowing profitability.
Key financials as of Q1 2025 :
Total Assets: US $10.9 billion
Total Liabilities: US $6.54 billion → debt-to-capital ~54 %
Total Debt: US $5.14 billion (+15 % YoY)
Net Debt: US $3.16 billion → net-debt-to-equity ~0.73× (stable YoY)
💡 Insight: The company maintains a moderate leverage profile. A Net Debt/Equity ratio of ~0.7× signals sound borrowing discipline and good liquidity buffer.
Q1 2025 performance shows solid top-line growth and disciplined cost control .
2024 developments:
JP Morgan upgraded BRPT from Underweight to Neutral, setting a price target of IDR 870/share, citing lower selling pressure and strategic expansion via Griya Idola industrial park .
Pefindo assigned BRPT an idA+ (Single A Plus) credit rating with Stable outlook in November 2024 .
Raised Rp 700 billion revolving credit facility from Bank BTN in Dec 2024 for operational flexibility .
Divested its full stake in logistic arm BIP (~Rp 90 billion) to streamline focus toward energy/chemicals and infrastructure under the Chandra Asri group .
Infra & Renewable Expansion:
Put two new geothermal units (Salak Binary) into operation via Star Energy Geothermal .
Acquired Shell Energy Chemical Park in Singapore, aiming to bolster regional footprint .
Market watcher commentary: Late 2023, institutional investors including BlackRock and UBS were actively accumulating BRPT shares .
Analyst outlook:
JP Morgan’s move to Neutral reflects improving sentiment, but stops short of strong bullishness .
No recent downgrade rumors; sentiment appears stable to positive.
| Metric | Strength/Concern |
|---|---|
| Ownership | Controlled by insiders with active stake adjustments—positive sign of confidence |
| Profitability | Healthy revenue; modest margin compression due to rising costs |
| Solvency | Balanced debt profile; solid liquidity |
| Strategic Moves | Expansion in chemicals (Singapore), renewables, credit facility |
| Market Sentiment | Improved analyst view and institutional interest |
Conclusion: BRPT demonstrates disciplined financial management, proactive strategic moves, and a stable-to-improving market perception. Profitability is strong, debt manageable, and growth trajectory credible.
If you’d like a deeper dive (e.g. forecast cash flows, peer comparison, or share-price targets), just let me know!