Colour Pallete

Komposisi Pemegang Saham

Name Shares %
Prajogo Pangestu 66,707,798,673 71.16%
Masyarakat dan lain 26,853,968,642 28.65%
Saham Treasuri 185,450,729 0.20%
Total 93,747,218,044 100.00%

Profil Perusahaan
Nama Perusahaan PT Barito Pacific Tbk
Ticker IDX: BRPT
Sector Basic Materials
Sub-Sector Basic Materials
Industry Basic Chemicals
Key Business Industri, Petrokimia, EBT

BoC
Jabatan Nama
Komisaris Utama Prajogo Pangestu
Komisaris Lim Chong Thian
Komisaris IndependHenky Susanto
Komisaris IndependSalwati Agustina

BoD
Jabatan Nama
Direktur Utama Agus Salim Pangestu
Wakil Direktur Uta Rudy Suparman
Direktur David Kosasih
Direktur Diana Arsiyanti
Direktur David Raimond Sulaiman

GCG
T Transparansi
A Akuntabilitas
R Responsibility
I Independensi
 F Fairness & Equality

Products
Petrochemical Energi Lainnya
Ethylene Listrik Geothermal Properti
Polyethylene Kehutanan
Polypropylene
Styrene Monomer
Butadiene
Butene-1
MTBE

Segmentation
Petrochemical 80.52% 2,384,591 Petro- Energy Lain
chem- nya
Energy 19.24% 569,780
ical
Lainnya 0.24% 7,161

Export 14.80% 438,388 Ex- Do

Domestic 85.20% 2,523,144 port mes
2,961,532
tic
PT Barito Pacific TBK
IDX : BRPT
Income Statement
Expressed in Million USD
2017 2018 2019 2020 2021
Revenue 2,852 3,076 2,402 2,334 3,156
Petrokimia 2,411 2,535 1,872 1,797 2,573
Energi 423 522 513 521 537
Others 18 19 17 16 45
Cost of Revenue 1,974 2,270 1,823 1,751 2,371
COGS Petrochemical 1,877 2,159 1,716 1,647 2,242
Direct Cost Energy 85 99 100 97 110
Others 12 13 7 7 18
Gross Profit 878 805 579 583 785
Gross Profit Margin 30.78% 26.19% 24.12% 24.99% 24.87%
SG&A Expenses 134 143 154 158 161
Selling Expenses 43 40 42 51 53
- Freight & Insurance 38 35 37 47 50
- Salaries, wages, others 5 6 5 4 3
General & Admin. Expenses 91 103 112 107 108
- Salaries, wages, others 67 69 83 74 80
- Profesional Fees 7 15 11 15 13
- Transportation 5 5 4 3 2
- Production Allowance Energ 12 14 13 15 14
Operating Profit 744 662 425 426 624
Operating Profit Margin 26.08% 21.53% 17.71% 18.23% 19.77%
Interest Expense 156 208 185 214 183
(Income)/Loss from Affiliates 9 8 3 (17) (20)
Forex (Gains)/Loss 3 12 2 10 (2)
Other Non-Operating (Inc.)/Exp. (14) (23) (42) (26) (18)
EBT 590 456 277 245 482
Income Tax Expense 211 198 139 103 185
Net Profit 380 258 138 142 296
Net Profit margin 13.31% 8.40% 5.72% 6.06% 9.39%

PT Barito Pacific TBK

IDX : BRPT
Vertical Analysis (Common-Size)
Expressed in Million USD
2017 2018 2019 2020 2021
Revenue 100.00% 100.00% 100.00% 100.00% 100.00%
Petrokimia 84.54% 82.41% 77.92% 76.99% 81.55%
Energi 14.83% 16.96% 21.37% 22.31% 17.03%
Lainnya 0.63% 0.63% 0.70% 0.71% 1.43%
Cost of Revenue 69.22% 73.81% 75.88% 75.01% 75.13%
COGS Petrochemical 65.80% 70.19% 71.42% 70.57% 71.06%
Direct Cost Energy 2.99% 3.21% 4.16% 4.14% 3.49%
Others 0.42% 0.41% 0.30% 0.29% 0.58%
Gross Profit 30.78% 26.19% 24.12% 24.99% 24.87%
Gross Profit Margin 30.78% 26.19% 24.12% 24.99% 24.87%
SG&A Expenses 4.71% 4.65% 6.41% 6.76% 5.10%
Selling Expenses 1.52% 1.31% 1.75% 2.16% 1.69%
- Freight & Insurance 1.34% 1.13% 1.54% 2.00% 1.59%
- Salaries, wages, others 0.18% 0.19% 0.21% 0.17% 0.10%
General & Admin. Expenses 3.18% 3.34% 4.66% 4.60% 3.41%
- Salaries, wages, others 2.35% 2.25% 2.71% 2.42% 2.58%
- Profesional Fees 0.26% 0.49% 0.37% 0.49% 0.41%
- Transportation 0.16% 0.15% 0.13% 0.10% 0.06%
- Production Allowance Energ 0.42% 0.45% 0.43% 0.48% 0.45%
Operating Profit 26.08% 21.53% 17.71% 18.23% 19.77%
Operating Profit Margin 26.08% 21.53% 17.71% 18.23% 19.77%
Interest Expense 5.47% 6.77% 7.70% 9.15% 5.80%
(Income)/Loss from Affiliates 0.30% 0.27% 0.14% -0.71% -0.65%
Forex (Gains)/Loss 0.11% 0.40% 0.09% 0.43% -0.06%
Other Non-Operating (Inc.)/Exp. -0.49% -0.74% -1.74% -1.13% -0.58%
EBT 20.69% 14.82% 11.52% 10.48% 15.26%
Income Tax Expense 7.38% 6.43% 5.80% 4.42% 5.87%
Net Profit 13.31% 8.40% 5.72% 6.06% 9.39%
Net Profit margin 13.31% 8.40% 5.72% 6.06% 9.39%
 PT Barito Pacific TBK
IDX : BRPT
Horizontal Analysis (Growth)
Expressed in Million USD
2022 2023F 2018 2019 2020 2021
2,962 2,984 Revenue 7.84% -21.89% -2.84% 35.19%
2,378 2,396 Petrokimia 5.13% -26.14% -4.01% 43.20%
570 574 Energi 23.30% -1.55% 1.40% 3.21%
14 14 Lainnya 7.49% -12.65% -2.43% 172.79%
2,516 2,240 Cost of Revenue 15.00% -19.70% -3.96% 35.41%
2,394 2,132 COGS Petrochemical 15.03% -20.52% -3.99% 36.11%
110 98 Direct Cost Energy 15.72% 1.27% -3.31% 14.03%
12 11 Direct Cost Property 5.55% -43.39% -6.01% 171.05%
446 744 Gross Profit -8.26% -28.06% 0.67% 34.54%
15.05% 24.93%
177 187 SG&A Expenses 6.65% 7.61% 2.50% 1.97%
62 67 Selling Expenses -6.91% 4.21% 20.00% 5.85%
59 64 - Freight & Insurance -9.40% 6.63% 25.88% 7.73%
3 3 - Salaries, wages, others 11.76% -10.53% -22.65% -16.35%
114 120 General & Admin. Expenses 13.13% 8.95% -4.09% 0.15%
81 84 - Salaries, wages, others 3.29% 20.55% -10.68% 6.85%
14 14 - Profesional Fees 105.75% -24.47% 32.05% -16.56%
4 4 - Transportation 3.78% -12.21% -25.61% -44.26%
16 17 - Production Allowance Ene 15.17% -5.49% 13.21% -7.44%
269 557 Operating Profit -10.95% -35.76% 0.01% 46.62%
9.08% 18.68%
203 203 Interest Expense 33.54% -11.19% 15.49% -14.39%
(39) (39) (Income)/Loss from Affiliates -0.85% -59.94% -588.80% 23.10%
(19) 0 Forex (Gains)/Loss 295.12% -82.45% 366.37% -119.86%
(31) (31) Other Non-Operating (Inc.)/Ex 62.79% 84.72% -37.22% -30.05%
155 424 EBT -22.73% -39.29% -11.63% 96.94%
123 124 Income Tax Expense -6.11% -29.52% -25.99% 79.75%
32 300 Net Profit -31.95% -46.76% 2.91% 109.46%
1.09% 10.06%

Petr En Oth
okim ergi ers
ia

1,
1,2,
2,
2,
1,
2
98
75
3
7
72
51
7
Petro En- Oth
2022 2023F 0
400043
11
Cost
Ex-
6po-
of
nen-
Rev
chem ergy ers
ical
0 enue
tial
(Cost
of
Rev-
enue)
 1,
1,2,
2,
2,
1,
2
98
75
3
7
72
51
7
Petro En- Oth
0
400043
1
Cost
Ex-
6po-
1 of
nen-
Rev
chem ergy ers
ical
0 enue
tial

100.00% 100.00% (Cost

of
Rev-
enue)

80.28% 80.28%
1
11
11
1
19.24% 19.24%
Ge
Se

4
35
57
6
lli
ne
ng
ral

3
48
47Ex-
1 41 41
1
1
9
Ex
&

0.48% 0.48% Row 20174

5
51
0 pe
Ad
200 6
3
01
0
1
0
po-
17 2
1
31
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mi
22
7
8
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n.
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84.95% 75.07% (Row

17)
pe
ns
es

80.84% 71.43% In
In-
3
223
ter
co
1
1
3.71% 3.27% 1
2
1
2
1
2
1
1
1
1
es
m
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e
8
59
4
30
3
2
2017 5
0
8
1
1
9
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Ta 0
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10 2
400 8
Net

0.41% 0.36% 2po-

8
08
2 pe
x
6
8
51
8
9
Profit
4
3
33
5
3 ns
Ex nen-
0
tial
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pe
(Net

15.05% 24.93% ns
e
Profit
)

15.05% 24.93%
5.96% 6.26%
2.10% 2.25%
2.00% 2.14%
0.10% 0.11%
3.86% 4.01%
2.62% 2.82%
0.44% 0.48%
0.12% 0.13%
0.54% 0.58%
9.08% 18.68%
9.08% 18.68%
6.85% 6.80%
-1.33% -1.32%
-0.65% 0.00%
-1.03% -1.03%
5.25% 14.22%
4.16% 4.16%
1.09% 10.06%
1.09% 10.06%
 2022 2023F CAGR 3Y CAGR 5Y
-6.15% 0.76% -6.46% 0.76%
-7.61% 0.76% -9.33% -0.28%
6.03% 0.76% 7.17% 6.14%
-68.46% 0.76% -2.88% -4.65%
6.12% -10.97% -3.92% 4.97%
6.77% -10.97% -4.25% 4.99%
-0.46% -10.97% 4.25% 5.16%
-34.23% -10.97% -17.50% 0.02%
-43.22% 66.94% -12.74% -12.68%

9.71% 5.70% 5.56% 5.65%

16.55% 7.51% 5.19% 7.51%
18.12% 7.51% 6.74% 9.12%
-7.27% 7.51% -8.20% -9.71%
6.31% 4.71% 5.74% 4.71%
1.26% 4.71% 3.61% 3.77%
8.48% 4.71% 27.08% 13.18%
120.00% 4.71% -12.16% -3.63%
19.46% 4.71% 7.21% 6.38%
-56.88% 107.15% -16.98% -18.40%

10.95% 0.00% 11.05% 5.40%

93.84% 0.00% -224.75% -235.89%
861.95% -100.00% 47.89% -243.95%
66.41% 0.00% 23.59% 17.05%
-67.75% 173.17% -25.44% -23.42%
-33.51% 0.76% -21.18% -10.16%
-89.15% 834.01% -28.03% -38.97%
PT Barito Pacific TBK
IDX : BRPT
Balance Sheet
Expressed in Million USD
2017 2018 2019 2020 2021 2022
Current Assets
Cash & Equivalents 906 801 744 1,135 1,875 1,638
ST-Investments 22 48 88 95 721 343
Restricted Cash 136 441 143 186 199 180
Account Receivables 334 272 346 244 289 274
Inventory 257 275 308 276 382 331
Prepaid Expense 41 51 43 33 24 37
Prepaid Tax 87 155 156 87 73 75
Other Current Assets 3 1 0 1 1 1
Total Current Assets 1,786 2,043 1,828 2,057 3,564 2,878
Non-Current Assets
Gross PP&E 3,216 3,514 3,918 4,172 4,380 4,680
Accumulated Depreciati 723 835 974 1,129 1,293 1,459
Net PP&E 2,493 2,679 2,944 3,043 3,087 3,221
Account Receivables LT 478 465 460 652 655 645
Long-Term Investments 42 42 33 173 255 916
Intangibles 1,685 1,685 1,684 1,629 1,573 1,440
Defered Charges 28 29 23 18 15 18
Deferred Tax 1 0 0 0 0 0
Other Non-Current Assets 357 99 211 113 91 130
Total Non-Current Asset 5,084 4,999 5,355 5,627 5,676 6,370
Total Assets 6,870 7,042 7,183 7,684 9,241 9,248

Current Liabilities
Bank Loans 0 0 0 1 1 1
Account Payables 484 570 690 726 782 450
Accrued Expense 61 60 59 60 63 64
Tax Payables 54 36 35 34 32 35
Current Portion of LT Debt 1,009 430 186 199 200 199
Other Current Liabilities 19 73 135 81 54 30
Total Current Liabilities 1,627 1,168 1,106 1,100 1,132 779
Non-Current Liabilities
Long Term Debt 1,621 2,224 2,349 2,679 2,896 3,770
Deferred Tax Liabilities 888 892 900 867 880 873
Post-Employment Benefits 50 44 58 55 51 50
Other Non-Current Liabiliti 13 12 14 25 10 55
Total Non-Current Liabil 2,572 3,172 3,321 3,626 3,837 4,748
Total Liabilities 4,199 4,340 4,426 4,726 4,969 5,527

Equity
Common Stock 812 948 948 979 981 981
Additional Paid in Capital 162 127 128 96 105 100
Retained Earnings 127 138 183 225 316 298
Other 184 (30) (74) 43 358 207
Treasury Shares (5) (8) (8) (11) (11) (6)
Minority Interests 1,391 1,527 1,580 1,626 2,522 2,142
Total Equity 2,671 2,702 2,757 2,958 4,272 3,721
Total Liabilities & Equity 6,870 7,042 7,183 7,684 9,240 9,248
Check 0 0 0 0 0 0

B/S Key Ratios 2021

AR Turnover 3.22
Inventory Turnover 7.60
Prepaid Expense/Rev 0.01
Prepaid Tax/Tax Expense 0.61
AP Turnover 5.59
Accrued Expense/Rev 0.02
Tax Payables/Tax Expense 0.28
Deferred Tax Liabilities/Re 0.29
Retention Ratio (Expected) 70.00%

7
7
679
99
,
,
1
0
8
,
6
,
,
2
2
,
4
,
Other
ST-In-
Cash
Re-
Inventory
AR
Prepaid Other
Net
AR
LT
Intan-
Deferred
LT
PPE
84
41 In-
gibles
Charges
Tax
10000
8
4
7
3
2
041
86 Total
Ex-
po-
As-
sets
nen-
vestment
stricted
Expense
Tax vest
Cash
0
tial

ment
(Total
As-
sets)

5,
5, Ot
LT
D
P
4,
4,
4, 4,
4,
14
3 9
754 Other
Bank
Ac-
AP
Tax
Curr. D
ef
os
he
eb
er
t-
r
28 t
re
E
9
100009
2
4
6
0
6
2
9
67
Total
Ex-
5po-
Liabil-
Loans
crued
Payabl
Port. 2020 d
m
Ta
pl
0 nen-
ities
tial
Exp.
es
of LT x
oy
m
(Total
Liabil- Debt en
t
ities)

4,
2,
2,
2,
2, 3,
3,
67
72
979 Minor-
Com
Add.
Re-
Trea-
Other
75
07
5
2
2
1
3
Total
Ex-
2po-
mon
Paid
tained
sury
ity In-
in
17
28
Stock
Capital
Earn-
Shares
terest
5000 Eq-
nen-
uity
0 tial
(To-
tal
ings
Eq-
uity)
 4,
2,
2,
2,
2, 3,
3,
67
792
79 Minor-
Com
Add.
Re-
Trea-
Other
75
057
2
2
1
3
Total
Ex-
2po-
mon
Paid
tained
sury
ity In-
in
500017
28
Stock
Capital
Earn-
Shares
terest
Eq-
nen-
uity
0 tial
(To-
tal
ings
Eq-
uity)
 PT Barito Pacific TBK
IDX : BRPT
Balance Sheet (Horizontal Analysis)
Expressed in Million USD
2023F 2018 2019 2020 2021 2022 2023F
Current Assets
1,486 Cash & Equivalents -11.64% -7.04% 52.55% 65.19% -12.65% -9.31%
343 ST-Investments 120.28% 83.68% 8.31% 658.36% -52.47% 0.00%
180 Restricted Cash 223.84% -67.45% 29.35% 6.99% -9.50% 0.00%
276 Account Receivables -18.53% 27.16% -29.44% 18.50% -5.19% 0.76%
393 Inventory 6.88% 11.92% -10.25% 38.27% -13.36% 18.60%
37 Prepaid Expense 23.86% -16.12% -22.90% -26.95% 52.89% 0.76%
75 Prepaid Tax 78.02% 0.85% -44.30% -15.57% 1.91% 0.76%
1 Other Current Assets -63.79% -84.81% 204.24% 20.12% 29.85% 0.00%
2,790 Total Current Assets 14.39% -10.52% 12.51% 73.31% -19.25% -3.06%
Non-Current Assets
5,045 Gross PP&E 9.27% 11.51% 6.46% 4.99% 6.87% 7.80%
1,573 Accumulated Depreciati 15.49% 16.65% 15.90% 14.52% 12.86% 7.80%
3,473 Net PP&E 7.47% 9.91% 3.34% 1.45% 4.36% 7.80%
650 Account Receivables LT -2.67% -1.15% 41.74% 0.46% -1.53% 0.76%
916 Long-Term Investments -0.24% -22.93% 430.95% 47.32% 259.22% 0.00%
1,440 Intangibles -0.04% -0.04% -3.26% -3.46% -8.45% 0.00%
18 Defered Charges 4.00% -20.92% -22.47% -12.50% 14.29% 0.00%
0 Deferred Tax -50.00% 33.33% -50.00% 0.00% -50.00% 0.00%
130 Other Non-Current Assets -72.32% 113.35% -46.49% -19.13% 42.83% 0.00%
6,626 Total Non-Current Asset -1.67% 7.12% 5.09% 0.87% 12.22% 4.02%
9,416 Total Assets 2.51% 2.00% 6.98% 20.26% 0.08% 1.82%

Current Liabilities
1 Bank Loans 0.00% 0.00% 884.72% -1.27% -14.29% 0.00%
401 Account Payables 17.77% 21.23% 5.10% 7.77% -42.46% -10.97%
64 Accrued Expense -2.19% -1.68% 1.53% 5.53% 1.59% 0.76%
35 Tax Payables -33.55% -1.12% -3.95% -5.88% 9.38% 0.76%
199 Current Portion of LT Debt -57.40% -56.74% 6.99% 0.50% -0.50% 0.00%
30 Other Current Liabilities 278.24% 84.93% -40.00% -33.33% -44.44% 0.00%
730 Total Current Liabilities -28.22% -5.35% -0.51% 2.88% -31.20% -6.24%
Non-Current Liabilities
3,770 Long Term Debt 37.20% 5.62% 14.05% 8.10% 30.18% 0.00%
880 Deferred Tax Liabilities 0.42% 0.91% -3.65% 1.50% -0.80% 0.76%
50 Post-Employment Benefits -12.00% 31.82% -5.17% -7.27% -1.96% 0.00%
 55 Other Non-Current Liabiliti -5.73% 16.67% 78.57% -60.80% 461.22% 0.00%
4,755 Total Non-Current Liabil 23.33% 4.70% 9.19% 5.81% 23.75% 0.14%
5,485 Total Liabilities 3.35% 2.00% 6.77% 5.13% 11.23% -0.76%

Equity
981 Common Stock 16.72% 0.04% 3.25% 0.26% 0.00% 0.00%
100 Additional Paid in Capital -21.66% 0.89% -24.81% 9.23% -4.82% 0.00%
508 Retained Earnings 9.27% 31.88% 23.15% 40.53% -5.77% 70.60%
207 Other -116.30% 146.67% -157.97% 735.20% -42.23% 0.00%
(6) Treasury Shares 75.72% 0.00% 31.91% 0.00% -39.65% 0.00%
2,142 Minority Interests 9.78% 3.47% 2.89% 55.11% -15.07% 0.00%
3,932 Total Equity 1.16% 2.02% 7.31% 44.42% -12.88% 5.65%
9,416 Total Liabilities & Equity 2.50% 2.01% 6.97% 20.26% 0.08% 1.82%
0 Check 0 0 0 0 0
 PT Barito Pacific TBK
IDX : BRPT
Balance Sheet (Vertical Analysis)
Expressed in Million USD
CAGR 5Y 2018 2019 2020 2021 2022
Current Assets
12.57% Cash & Equivalents 11.37% 10.36% 14.77% 20.30% 17.71%
73.66% ST-Investments 0.68% 1.22% 1.24% 7.80% 3.71%
5.71% Restricted Cash 6.26% 2.00% 2.42% 2.15% 1.94%
-3.86% Account Receivables 3.86% 4.81% 3.17% 3.13% 2.96%
5.16% Inventory 3.91% 4.29% 3.60% 4.14% 3.58%
-2.20% Prepaid Expense 0.73% 0.60% 0.43% 0.26% 0.40%
-2.96% Prepaid Tax 2.20% 2.17% 1.13% 0.79% 0.81%
-23.55% Other Current Assets 0.02% 0.00% 0.01% 0.01% 0.01%
10.01% Total Current Assets 29.01% 25.45% 26.77% 38.57% 31.12%
Non-Current Assets
7.80% Gross PP&E 49.90% 54.55% 54.29% 47.40% 50.61%
15.08% Accumulated Depreciatio 11.86% 13.56% 14.69% 13.99% 15.78%
5.26% Net PP&E 38.04% 40.99% 39.60% 33.40% 34.83%
6.17% Account Receivables LT 6.61% 6.40% 8.49% 7.09% 6.97%
84.89% Long-Term Investments 0.60% 0.45% 2.25% 2.76% 9.90%
-3.10% Intangibles 23.92% 23.44% 21.20% 17.02% 15.57%
-8.61% Defered Charges 0.41% 0.32% 0.23% 0.17% 0.19%
-30.12% Deferred Tax 0.00% 0.01% 0.00% 0.00% 0.00%
-18.26% Other Non-Current Assets 1.40% 2.94% 1.47% 0.99% 1.41%
4.61% Total Non-Current Assets 70.99% 74.55% 73.23% 61.43% 68.88%
6.13% Total Assets 100.00% 100.00% 100.00% 100.00% 100.00%

Current Liabilities
1330.97% Bank Loans 0.00% 0.00% 0.01% 0.01% 0.01%
-1.43% Account Payables 8.09% 9.61% 9.44% 8.46% 4.87%
0.92% Accrued Expense 0.85% 0.82% 0.78% 0.68% 0.69%
-8.27% Tax Payables 0.51% 0.49% 0.44% 0.35% 0.38%
18.00% Current Portion of LT Debt 6.11% 2.59% 2.59% 2.16% 2.15%
9.22% Other Current Liabilities 1.04% 1.88% 1.05% 0.58% 0.32%
-13.71% Total Current Liabilities 16.59% 15.39% 14.32% 12.25% 8.42%
Non-Current Liabilities
18.39% Long Term Debt 31.58% 32.70% 34.86% 31.34% 40.76%
-0.34% Deferred Tax Liabilities 12.66% 12.53% 11.28% 9.52% 9.44%
0.00% Post-Employment Benefits 0.62% 0.81% 0.72% 0.55% 0.54%
34.00% Other Non-Current Liabilitie 0.17% 0.19% 0.33% 0.11% 0.59%
13.05% Total Non-Current Liabili 45.04% 46.23% 47.19% 41.52% 51.34%
5.65% Total Liabilities 61.63% 61.62% 61.50% 53.77% 59.76%

Equity
3.86% Common Stock 13.46% 13.20% 12.74% 10.62% 10.61%
-9.18% Additional Paid in Capital 1.80% 1.78% 1.25% 1.14% 1.08%
18.63% Retained Earnings 1.97% 2.54% 2.93% 3.42% 3.22%
2.38% Other -0.43% -1.03% 0.56% 3.88% 2.24%
6.94% Treasury Shares -0.11% -0.11% -0.14% -0.11% -0.07%
9.01% Minority Interests 21.69% 22.00% 21.16% 27.29% 23.16%
6.86% Total Equity 38.37% 38.38% 38.49% 46.23% 40.24%
6.13% Total Liabilities & Equity 100.00% 100.00% 100.00% 100.00% 100.00%
0 Check 0 0 0 0 0
 2023F

15.78%
3.64%
1.91%
2.93%
4.17%
0.40%
0.80%
0.01%
29.63%

53.58%
16.70%
36.88%
6.90%
9.73%
15.29%
0.19%
0.00%
1.38%
70.37%
100.00%

0.01%
4.25%
0.68%
0.37%
2.11%
0.32%
7.75%

40.04%
9.34%
0.53%
 0.58%
50.49%
58.25%

10.42%
1.06%
5.39%
2.20%
-0.07%
22.75%
41.75%
100.00%
PT Barito Pacific TBK
IDX : BRPT
Cash Flow
Expressed in Million USD
2018 2019 2020 2021 2022 2023F
Net Income 258 138 142 296 32 300
Depreciation Expense 112 139 155 164 166 114
Change in Current Asset (362) 159 162 (768) 449 (65)
Change in Current Liabilities (459) (62) (6) 32 (353) (49)
Cash from Ops. (451) 373 453 (276) 294 301

Purchase of Fixed Asset (298) (405) (253) (208) (301) (365)

Other Investing Activities 271 (91) (174) (5) (559) (5)
Cash from Investing (27) (495) (427) (213) (860) (370)

Change in Non-Current Liabilitie 600 149 305 211 911 7

Payment of Dividend (247) (93) (99) (205) (50) (90)
Other Financing Activities 19 11 159 1,223 (532) 0
Cash from Financing 373 66 365 1,228 329 -83

Net Change in Cash (106) (56) 391 740 (237) (152)

Cash at Beginning Period 906 800 744 1,135 1,875 1,638
Cash at Ending Period 800 744 1,135 1,875 1,638 1,486

Cash Inflows 1,261 595 923 1,926 1,559 421

Cash Outflows (1,366) (651) (532) (1,186) (1,796) (573)

0 1500

-200

-400 1000

-600 (532)
-800
(651) 500 37337
-1000 Cash Outflows

-1200 0
(1,186) 2018
-1400
(27) 2
(1,366)
-1600 -500
(451) (4
-1800
(1,796)
-2000 -1000
-1000 Cash Outflows

-1200 0
(1,186) 2018
-1400
(27) 2
(1,366)
-1600 -500
(451) (4
-1800
(1,796)
-2000 -1000

2500

2000 1,926

1,559
1500
1,261
Cash Inflows

1000 923

595
500

0
 PT Barito Pacific TBK
IDX : BRPT
Cash Flow (Horizontal Analysis)
Expressed in Million USD
2019 2020 2021 2022 2023F
Net Income -46.76% 2.91% 109.46% -89.15% 834.01%
Depreciation Expense 24.11% 11.44% 5.81% 1.40% -31.56%
Change in Current Asset -143.75% 2.46% -572.50% -158.49% -114.37%
Change in Current Liabilities -86.40% -90.94% -659.81% ### -86.24%
Cash from Ops. -182.55% 21.63% -160.81% -206.77% 2.26%

Purchase of Fixed Asset 35.65% -37.40% -17.85% 44.62% 21.30%

Other Investing Activities -133.40% 92.33% -97.30% ### -99.13%
Cash from Investing 1724.38% -13.68% -50.22% 304.37% -57.01%

Change in Non-Current Liabilities -75.15% 104.69% -30.93% 332.26% -99.28%

Payment of Dividend -62.12% 6.30% 106.82% -75.46% 78.76%
Other Financing Activities -45.10% 1404.62% 668.21% -143.52% -100.00%
Cash from Financing -82.21% 450.64% 236.41% -73.24% -125.40%

Net Change in Cash -46.93% -796.64% 89.27% -132.05% -35.78%

Cash at Beginning Period -11.67% -7.01% 52.55% 65.19% -12.65%
Cash at Ending Period -7.01% 52.55% 65.19% -12.65% -9.30%

1500
1,228
1000

373373 453365
294329
500
Cash from Ops.

66 Cash from Investing

Cash from Financing
0
2018
(27) 2019 2020 2021 2022
(213)
(276)
-500
(451) (495) (427)
-1000 (860)
 66 Cash from Investing
Cash from Financing
0
2018
(27) 2019 2020 2021 2022
(213)
(276)
-500
(451) (495) (427)
-1000 (860)
PT Barito Pacific TBK
IDX : BRPT
Cash Flow (Vertical Analysis)
Expressed in Million USD
2018 2019 2020 2021 2022
Net Income -57.22% 36.90% 31.22% -107.56% 10.93%
Depreciation Expense -24.81% 37.31% 34.18% -59.48% 56.49%
Change in Current Asset 80.29% 42.55% 35.84% 278.53% 152.60%
Change in Current Liabilities 101.74% -16.76% -1.25% -11.50% -120.01%
Cash from Ops. 100.00% 100.00% 100.00% 100.00% 100.00%

Purchase of Fixed Asset 1098.99% 81.71% 59.25% 97.79% 34.97%

Other Investing Activities -998.99% 18.29% 40.75% 2.21% 65.03%
Cash from Investing 100.00% 100.00% 100.00% 100.00% 100.00%

Change in Non-Current Liabilities 160.97% 224.86% 83.59% 17.16% 277.27%

Payment of Dividend -66.14% -140.81% -27.18% -16.71% -15.33%
Other Financing Activities 5.17% 15.95% 43.59% 99.55% -161.94%
Cash from Financing 100.00% 100.00% 100.00% 100.00% 100.00%
 BRPT
Ratios
2018 2019 2020 2021 2022
Profitability
GPM 26.2% 24.1% 25.0% 24.9% 15.0%
NPM 8.4% 5.7% 6.1% 9.4% 1.1%
ROE 9.6% 5.0% 5.2% 8.2% 0.8%
ROA 5.9% 3.7% 3.6% 4.6% 1.8%
Liquidity
Cash Ratio 1.10 0.88 1.29 2.47 2.77
Current Ratio 1.7x 1.7x 1.9x 3.1x 3.7x
Quick Ratio 1.2x 1.1x 1.3x 2.5x 2.9x
Solvency
DER 98.6% 92.4% 97.6% 72.6% 107.4%
Sumber: Capital IQ