Barito Pacific's nine-month net profit falls 60.65%

PT Barito Pacific Tbk. (BRPT) reported US$229 million in net profit attributable to owners of the parent for the first nine months of 2026, down 60.65% from US$582 million a year earlier.

Consolidated net profit dropped 66.14% to US$616 million from US$1.82 billion. President Director Agus Pangestu said the comparison was affected by a high base in 2025, when the company recognised a bargain purchase gain from its acquisition of Aster.

In a statement dated 30 October 2026, Agus said geopolitical uncertainty and continuing market volatility remained challenges for the global business environment, particularly the energy sector. He said operating and financial performance remained strong when the non-recurring acquisition gain was excluded.

Despite the profit decline, consolidated net revenue increased 56.3% to US$8.7 billion through September, mainly driven by higher revenue at petrochemical subsidiary Chandra Asri Group. Energy revenue rose 9.63% to US$501 million, while revenue from other sectors fell 20% to US$4 million.

Agus attributed renewable energy revenue growth mainly to additional geothermal generation following retrofit projects and steady wind power output. The company reported EBITDA of US$1.40 billion, supported by refinery processing margins, fuel retail integration and continued cost-efficiency measures in renewable energy.

Total assets stood at US$19.58 billion, an increase of 12.82% year on year. The company reported a net debt-to-equity ratio of 0.76 times.