By Rara Suratmi
Renewable energy firm Jakarta PT Barito Renewables Energy Tbk (IDX: BREN) has reported solid financial results for the first half of 2025, showcasing growth across key operational and financial metrics. The company’s net profit increased by 11.5% year-over-year to US$82 million.
In the first half of 2025, Barito Renewables recorded revenues of $300 million, a 3.4% increase from the same period in 2024. This growth was primarily driven by strong geothermal output following the normalization of operations at the Darajat geothermal plant, and additional contributions from the newly commissioned Salak Binary unit. However, this was partially offset by slower generation from the wind segment.
The company's EBITDA for the first half reached $259 million, up 4.4% compared to the same period last year. The EBITDA margin expanded to 86.3%, reflecting continued operational efficiencies and disciplined cost management strategies, the company claimed.
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Barito Renewables also achieved notable improvements in its financial position. The company’s total assets stood at $3,772 million, slightly down from the end of 2024, while its total liabilities decreased by 3.2% to $2,957 million. Total debt was reduced by 3.1% to $2,057 million, contributing to an improved net debt to equity ratio of 1.95x, compared to 2.21x at the end of 2024.
Looking ahead, Barito Renewables remains focused on the expansion of its renewable energy portfolio. Plans are underway for the completion of new geothermal units at Salak and Wayang Windu, which are expected to start commercial operations in late 2026. Additionally, retrofit programs at key plants are aimed at improving efficiency, extending asset life, and optimizing energy output.
The company also anticipates stronger performance from its wind segment in the second half of the year, as seasonal patterns typically result in higher wind speeds, leading to better generation capacity and higher returns from the wind portfolio.
Editing by Alexander Ginting
