Strong Q1 2026 Performance: TPIA Records Highest Profit in History - BCA Sekuritas
PT Chandra Asri Pacific Tbk (TPIA) or Chandra Asri Group recorded the highest quarterly EBITDA in history at USD 421 million and net profit of USD 205 million in the first quarter of 2026. This achievement was driven by strong refinery performance, optimal feedstock procurement strategies, and the success of the Group’s transformation into a diversified regional industry player in Southeast Asia.
In the financial performance report released by the company on Monday (13/4), Chandra Asri Group stated that this achievement was also supported by the successful integration of Shell Singapore assets and ExxonMobil Singapore retail, completed in the past year. This integration strengthened the revenue base and significantly increased the business scale.
In addition to booking the highest profit, the Group also maintained solid liquidity of USD 3.8 billion. This financial position is considered to strengthen operational resilience while providing strategic flexibility to support long-term investments amid global energy and petrochemical market volatility.
The positive performance in the first quarter of 2026 was primarily driven by increasing refinery margins amid supply disruptions from the Middle East. The company successfully maximised spreads and throughput through optimisation of crude slate selection and adaptive product placement in response to market dynamics. On the other hand, proactive sourcing strategies and diversification of feedstock supplies enabled the Group to process more profitable crude oil and intermediates, while maintaining high plant utilisation rates and product yields.
In the petrochemical segment, although the industry still faces margin pressures due to regional oversupply and weak demand, Chandra Asri was able to maintain operational stability through cost efficiencies, feedstock flexibility, and optimisation of the integrated value chain. The company also completed major investments such as the expansion of Butene-1 and MTBE facilities in Cilegon.
In terms of business expansion, the Group continues to develop infrastructure through PT Chandra Daya Investasi Tbk (CDIA) in various regions of Indonesia. Through this subsidiary, the Group strengthens logistics, storage, and utilities capabilities to improve cost efficiency while creating stable recurring revenue sources.
The company also reaffirmed its commitment to national industrial downstreaming by allocating capital expenditure of around USD 1 billion for the construction of world-scale caustic soda and ethylene dichloride facilities along with supporting infrastructure. This project is targeted to commence operations in 2027.
Management views the first quarter 2026 achievements as reflecting the Group’s strong operational fundamentals, while reinforcing Chandra Asri’s position as a key player in the energy, chemicals, and infrastructure sectors in Southeast Asia. This performance is expected to support energy supply continuity, the creation of high-value jobs, and enhancement of national industrial competitiveness in the long term.