Financials PT Barito Pacific Tbk

Equities

End-of-day quote INDONESIA S.E. Other stock markets 06:00:00 2024-04-29 pm EDT			5-day change	1st Jan Change
1,020 ^IDR	+6.81%		+6.81%	-23.31%

Mar. 29	PT Barito Pacific Tbk Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	PT Barito Pacific Tbk Reports Earnings Results for the Nine Months Ended September 30, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	133,655,469	102,137,555	79,675,009	70,652,531	124,437,151	95,433,003	-	-
Enterprise Value (EV) ²	163,166	127,374	97,213	100,416	124,437	121,464	121,974	95,433
P/E ratio	192 x	1,902 x	50.9 x	2,524 x	299 x	86.4 x	79.7 x	-
Yield	-	0.25%	0.37%	-	-	0.53%	0.91%	-
Capitalization / Revenue	3.4 x	3.03 x	1.76 x	1.59 x	2.84 x	1.91 x	2.08 x	-
EV / Revenue	4.15 x	3.77 x	2.15 x	2.27 x	2.84 x	2.44 x	2.65 x	-
EV / EBITDA	18.5 x	14.7 x	8.5 x	15.1 x	14.4 x	10.3 x	9.28 x	-
EV / FCF	-522 x	30.3 x	31.7 x	-21.5 x	-	32.8 x	98.1 x	20.8 x
FCF Yield	-0.19%	3.3%	3.15%	-4.65%	-	3.05%	1.02%	4.82%
Price to Book	6.94 x	5.36 x	3.17 x	2.99 x	-	3.36 x	3.29 x	-
Nbr of stocks (in thousands)	88,886,244	93,243,280	93,579,512	93,579,512	93,561,767	93,561,767	-	-
Reference price ³	1,504	1,095	851.4	755.0	1,330	1,020	1,020	1,020
Announcement Date	3/30/20	3/29/21	3/31/22	3/31/23	3/29/24	-	-	-

¹IDR in Million²IDR in Billions³IDR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	39,326	33,757	45,295	44,302	43,796	49,855	45,981	-
EBITDA ¹	8,835	8,679	11,439	6,664	8,661	11,818	13,151	-
EBIT ¹	6,962	6,152	8,948	4,025	5,554	9,033	10,184	6,625
Operating Margin	17.7%	18.22%	19.76%	9.09%	12.68%	18.12%	22.15%	-
Earnings before Tax (EBT) ¹	4,529	3,536	6,908	2,325	3,542	7,030	7,916	-
Net income ¹	722.4	524.6	1,564	26.31	414.4	2,487	1,871	-
Net margin	1.84%	1.55%	3.45%	0.06%	0.95%	4.99%	4.07%	-
EPS ²	7.824	0.5760	16.72	0.2992	4.442	11.80	12.80	-
Free Cash Flow ³	-312,861	4,209,483	3,063,808	-4,666,251	-	3,703,535	1,243,654	4,595,929
FCF margin	-795.56%	12,470.04%	6,764.13%	-10,532.93%	-	7,428.55%	2,704.74%	-
FCF Conversion (EBITDA)	-	48,501.65%	26,784.94%	-	-	31,339.04%	9,456.95%	-
FCF Conversion (Net income)	-	802,425.98%	195,849.54%	-	-	148,938.87%	66,458.45%	-
Dividend per Share ²	-	2.713	3.109	-	-	5.419	9.243	-
Announcement Date	3/30/20	3/29/21	3/31/22	3/31/23	3/29/24	-	-	-

¹IDR in Billions²IDR³IDR in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	29,511	25,236	17,538	29,763	-	26,031	26,541	-
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.34 x	2.908 x	1.533 x	4.466 x	-	2.203 x	2.018 x	-
Free Cash Flow ²	-312,861	4,209,483	3,063,808	-4,666,251	-	3,703,535	1,243,654	4,595,929
ROE (net income / shareholders' equity)	3.76%	2.9%	7.09%	0.11%	-	9.06%	6.58%	-
ROA (Net income/ Total Assets)	0.62%	0.48%	1.29%	0.02%	-	1.59%	1.2%	-
Assets ¹	116,424	108,298	121,363	138,489	-	156,686	156,117	-
Book Value Per Share ³	217.0	204.0	269.0	253.0	-	304.0	310.0	-
Cash Flow per Share	81.30	-	56.20	-20.90	-	-	-	-
Capex ¹	7,831	2,025	2,276	2,679	-	3,974	5,027	2,644
Capex / Sales	19.91%	6%	5.02%	6.05%	-	7.97%	10.93%	-
Announcement Date	3/30/20	3/29/21	3/31/22	3/31/23	3/29/24	-	-	-

¹IDR in Billions²IDR in Million³IDR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

B-

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

1,020 IDR

Average target price

1,093 IDR

Spread / Average Target

+7.19%

	1st Jan change	Capi.
PT BARITO PACIFIC TBK	-23.31%	5.87B
SAUDI BASIC INDUSTRIES CORPORATION	+1.20%	67.6B
PT CHANDRA ASRI PACIFIC TBK	+44.29%	40.33B
WANHUA CHEMICAL GROUP CO., LTD.	+15.99%	38.65B
LYONDELLBASELL INDUSTRIES N.V.	+4.67%	32.55B
WESTLAKE CORPORATION	+6.59%	18.94B
NINGXIA BAOFENG ENERGY GROUP CO., LTD.	+12.32%	16.76B
HENGLI PETROCHEMICAL CO.,LTD.	+17.69%	15.07B
RONGSHENG PETROCHEMICAL CO., LTD.	+8.31%	14.83B
NAN YA PLASTICS CORPORATION	-14.74%	13.79B