PT Barito Pacific Tbk · IDX:BRPT
PT Barito Pacific Tbk — 9M 2022 Earnings Presentation
22 slides from PT Barito Pacific Tbk's earnings presentation, November 2022
Slide 1: Impact Beyond Return: 9M22 Earnings Call
Impact Beyond Return 9M22 Earnings Call Presentation to Analysts and Investors 1
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: Agenda
Agenda 01 Key Performance Summary 02 Detail Operational Metrics 03 Financial Performance 04 Q&A 3
Slide 4: Key Performance Summary
01 Key Performance Summary 4
Slide 5: 9M-2022 Financial Summary
9M-2022 Financial Summary Revenue EBITDA EBITDA Margin Net profit after tax US$2,377m US$360m 15% US$39mn +2.8% -44% -12pp -86% 2.377 639 27,6% 271 2.313 360 15,1% 39 9M21 9M22 9M21 9M22 9M21 9M22 9M21 9M22 Global Macro Headwind – geopolitical risk, high oil price, inflationary pressures and recessi
Slide 6: Key Dynamic Factors
Key Dynamic Factors We have endured considerable volatility of petrochemical industry in the past, with added pillar of energy business offers balancing act to our consolidated performance Petrochemical Spread Run rates & Capacity Factor Oil Price & EBITDA Polyethylene spread Polypropylene spread TP
Slide 7: Balancing act – Fostering Growth Resilience
Balancing act – Fostering Growth Resilience Stronger blend of income with shielding factor from Geothermal Revenue contribution EBITDA contribution SEG EBITDA (US$m) SEG EBITDA margin +6.8% YoY 83,5% 441 83,1% Others Petrochemic 415 0,38% al +7.2% YoY Geothermal 82,2% 18% 3% 354 330 79,7% Petrochemi
Slide 8: Financial performance – Balance Sheet
Financial performance – Balance Sheet Proactive approach to maintain cost and capital discipline We continue to demonstrate strong leverage metrics Total Debt & Net Debt Debt to equity & Debt to EBITDA & (US$ mn) Net debt to equity Net Debt to EBITDA Debt to capital ratio (%) 7,09x 3.485 0,78x 0,72x
Slide 9: Robust Funding Capability to Support Sustainable growth
5 Robust Funding Capability to Support Sustainable growth Successfully raised series of funding through Debt composition fixed vs. floating rate equity & debt 16% 17% 17% Funding activities (US$ billion) Capex (US$ billion) 60% 54% 9,8 79% [VALUE] 84% 83% 83% 40% 46% 21% 4,3 2017 2018 2019 2020 2021
Slide 10: Business updates - Roadmap for expansions
Business updates - Roadmap for expansions Long runway for multi-years growth Petrochemical Renewable Energy Indo Raya Tenaga (PLTU) • CAP 2: > 2x capacity to 8.95MTPA Pipeline projects: Power plant: • Stronger position to further benefit from • +15MW Salak Binary Plant • 2 x 1,000MW Ultra Super crit
Slide 11: Current ESG rating of Barito Pacific and Subsidiaries
Current ESG rating of Barito Pacific and Subsidiaries On the path of continuous improvement Rating Provider 2020 Score 2021 Score 2022 Score Target MSCI ESG LEADERS √ BB BBB BBB A Sustainalytics (BRPT) 34.1 (High Risk) 27.2 (Medium Risk) 27.2 (Medium Risk) 15 - 20 (Low Risk) Sustainalytics (TPIA) No
Slide 12: Detail Operational Metrics
02 Detail Operational Metrics 12
Slide 13: Market product prices
Market product prices Lower petrochemical spread on rising feedstock price due to escalated geopolitical tensions OLEFINS POLYOLEFINS OTHERS (all figures in US$/T) 1.600 1.600 1.600 1470 1.453 1476 1424 1406 1.413 1.407 1.389 1.403 1.353 1.400 1.400 1.400 1.295 1.249 1.255 1193 1155 1.203 1.153 1.15
Slide 14: Production and Sales
Production and Sales Sales volume reflecting softer margins whilst domestic market remains healthy (all figures in KT) Ethylene (1) Polyethylene Plant Polypropylene Plant Styrene Monomer Plant Prod Sales Prod Sales Prod Sales Prod Sales 639 600 521 506 479 454 423 406 427 414 224 225 166 163 65 90 9
Slide 15: Operating Rates
Operating Rates Various optimization initiatives launched reflecting market economics and dynamics Naphtha Cracker Polyethylene Plant Polypropylene Plant Styrene Monomer Plant 95% 95% 89% 95% 97% 87% 88% 65% 9M21 9M22 9M21 9M22 9M21 9M22 9M21 9M22 (1) Butadiene Plant MTBE Plant Butene-1 Plant All Pl
Slide 16: Energy Operating Performance
Energy Operating Performance Star Energy Geothermal Operating Assets – Average Net Capacity Factor Wayang Windu Salak Units 1 to 3 (IP operated turbine) Salak Units 4 to 6 (1) 99% 99% 97% 99% 95% 97% 95% 97% 93% 88% 90% 85% 2019 2020 2021 3Q22 2019 2020 2021 3Q22 2019 2020 2021 3Q22 Darajat Unit 1 (
Slide 17: Financial Performance
03 Financial Performance 17
Slide 18: Historical Income Statement
Historical Income Statement Revenue (US$ mn) EBITDA (US$ mn) & margin Net profit after tax (US$ mn) 26,4% 24,8% 25,6% 25,3% 3,076 3,156 813 797 296 11 38 416 272 522 537 2,402 2,334 441 639 2,337 595 596 8 7 6 11 330 513 424 403 415 521 2,313 37 360 137 147 397 401 2.543 2.580 354 356 1.881 1.948 31
Slide 19: Historical Balance Sheet and Ratios
Historical Balance Sheet and Ratios Total assets (US$ mn) Total Debt & Net Debt (US$ mn) 9.242 9.361 3.485 3.097 3.097 7.683 2.880 7.042 7.182 2.654 2.536 1.791 1.745 1.878 1.640 2018 2019 2020 2021 9M22 2018 2019 2020 2021 9M22 Total Debt Net Debt Net debt/EBITDA Debt to capital ratio (%) 4.5x limi
Slide 20: 9M-2022 Financial Summary
9M-2022 Financial Summary (US$ million, unless otherwise 9M-2022 9M-2021 % Change stated) Net Revenues 2,377 2,313 3% Petrochemical 1,948 1,878 4% Energy 424 397 7% Others 6 37 (84%) Cost of Revenues 2,046 1,676 22% Gross Profit 332 638 (48%) Finance costs 146 138 6% Net Profit after Tax 39 272 (86%
Slide 21: Q&A
Q&A 21
Slide 22: Thank You
THANK YOU Office Address: Contact: PT Barito Pacific Tbk Investor Relations /Corporate Secretary Wisma Barito Pacific Tower B, Fl. 8 Email: [email protected] Jl. Letjen. S. Parman Kav. 62-63 [email protected] Jakarta 11410 Tel: +62 21 530 6711 Visit our website at www.barito-pacific