ISSUER NEWS - JAKARTA. PT Barito Pacific (BRPT) recorded a consolidated profit after tax of US$ 99.7 million in 2023. This achievement increased by 213% from the previous year, which was recorded at US$ 32 million.
The net profit or profit for the year attributable to the parent entity reached US$ 26 million, skyrocketing from US$ 2 million in 2022.
Although net profit grew, the company's revenue fell by 6.79% from 2022 to US$ 2.76 billion. This was driven by an increase in other profits from US$ 32.2 billion to US$ 134.2 billion.
BRPT's CEO, Agus Pangestu, said that they continue to strive to create added value through business diversification and downstream expansion in 2023. Thus, last year was a new milestone for the company.
"Despite the imbalance in the supply and demand of the global petrochemical sector, we managed to mitigate losses and maintain operational excellence throughout 2023," Agus said in his official statement, Saturday (30/3).
He said, that at a time when the global petrochemical industry is faced with challenges, BRPT, through its subsidiary, PT Chandra Asri Pacific Tbk (TPIA), has taken transformational steps that will strengthen its resilience in the coming years, especially through infrastructure portfolio and the development of downstream Chlor-Alkali plants.
Meanwhile, PT Barito Renewable Tbk (BREN) managed to secure US$ 200 million in funding after the company went public (IPO). Agus mentioned this funding will strengthen the company's steps in expanding its renewable energy portfolio.
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BREN has acquired a greenfield asset of a wind power plant with a potential capacity of 318 MW and has entered into a principle agreement to acquire Sidrap I with an operational capacity of 79MW.
“Going forward, we will continue to dedicate ourselves to driving expansion and generating sustainable growth,” Agus concluded.
