Prajogo's Holding Company Barito Pacific Reports 64% Profit Plunge
PT Barito Pacific Tbk (BRPT) recorded a profit attributable to owners of the parent entity of US$190 million for the first half of 2026. This figure represents a 64.8% plunge from the US$540 million posted in the same period of 2025.
President Director Agus Pangestu stated that the profit decline was influenced by lingering geopolitical uncertainties affecting the market. “The first half of 2026 was still marked by a volatile global situation, with geopolitical uncertainties continuing to overshadow the market,” he said in an official statement on Monday (3/8/2026).
In contrast, BRPT’s net revenue surged 76.1% to US$5.686 billion in the first six months of 2026, compared to US$3.229 billion in the prior year period. The largest contributor to this growth was the petrochemical segment, which recorded revenue of US$5.349 billion, an 83.6% jump from US$2.913 billion. The energy segment also saw growth, with revenue reaching US$334 million, up 11.3% from US$300 million.
Despite the revenue increase, profitability faced significant pressure. The company posted a net profit after tax of US$518 million, a 70% decline from US$1.724 billion in the first half of 2025. EBITDA fell 45.1% to US$1.084 billion from US$1.974 billion, with the EBITDA margin contracting sharply to 19.06% from 61.13%.
Pangestu noted that the successful integration of Shell’s assets in Singapore resulted in a strong performance from the refinery segment amid market dislocations caused by Middle East dynamics. However, he added that market conditions for standalone chemical facilities in Indonesia remained challenging. “Our diversified business portfolio allows the company to capture various opportunities along the value chain while mitigating the impact of weakness in certain segments,” he said.
From a capital structure perspective, the company’s leverage remained relatively stable. The debt-to-capitalisation ratio was recorded at 55.58%, nearly unchanged from 55.98% in the first half of 2025. The net debt-to-equity ratio improved slightly to 0.76 times from 0.77 times. Total assets reached US$18.952 billion, a 9.2% increase, while total liabilities rose 10.2% to US$12.458 billion. Total equity grew 7.4% to US$6.494 billion.
Pangestu added that the company’s integrated manufacturing network in Indonesia and Singapore enhances supply reliability and operational flexibility, helping to alleviate domestic supply constraints amid rising geopolitical uncertainty and global supply chain disruptions. “We remain firmly committed to continuing investment in Indonesia, as reflected in the progress of our domestic CA-EDC project, which is proceeding according to plan,” he said. The approximately US$1 billion investment has reached 72% construction completion and remains on track to commence operations in 2027. The company is also continuing to develop its geothermal operating capacity, which is projected to increase total installed capacity to more than 1 GW by the end of this year.