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Equity Bottom-Up

Barito Renewables Energy / Equity Bottom-Up

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Market Leader with Strong Growth Pipeline: Barito Renewables (BREN) is Indonesia's largest geothermal energy producer with 885 MW of installed capacity, positioning it as a key beneficiary of the country's push towards renewable energy. The company has a clear expansion strategy to add 112 MW of capacity through new units and retrofitting projects, aiming for a total capacity of 1,300 MW by 2028.</li>
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Exceptional Profitability and Stable Cash Flows: The company exhibits very high and stable EBITDA margins, consistently above 84%, driven by operational excellence with capacity factors exceeding 90% and long-term power purchase agreements that provide revenue stability.</li>
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Extreme Valuation Presents Significant Risk: Despite strong fundamentals, BREN trades at exceptionally high valuation multiples (e.g., EV/EBITDA of ~145x, P/B of ~149x) that are significantly above its closest domestic peer, Pertamina Geothermal Energy (PGEO), and global industry averages. This premium suggests market expectations may be disconnected from fundamentals, posing a considerable risk to investors.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  
Market Leader with Strong Growth Pipeline: Barito Renewables (BREN) is Indonesia's largest geothermal energy producer with 885 MW of installed capacity, positioning it as a key beneficiary of the country's push towards renewable energy. The company has a clear expansion strategy to add 112 MW of capacity through new units and retrofitting projects, aiming for a total capacity of 1,300 MW by 2028.
  
Exceptional Profitability and Stable Cash Flows: The company exhibits very high and stable EBITDA margins, consistently above 84%, driven by operational excellence with capacity factors exceeding 90% and long-term power purchase agreements that provide revenue stability.
  
Extreme Valuation Presents Significant Risk: Despite strong fundamentals, BREN trades at exceptionally high valuation multiples (e.g., EV/EBITDA of ~145x, P/B of ~149x) that are significantly above its closest domestic peer, Pertamina Geothermal Energy (PGEO), and global industry averages. This premium suggests market expectations may be disconnected from fundamentals, posing a considerable risk to investors.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Barito Renewables Energy (BREN IJ) - Sep 2025

Indonesia

PT Barito Renewables Energy Tbk operates as a holding company. The Company, through its subsidiaries, focuses on long term strategy to provide cleaner and lower emission energy. Barito Renewables Energy develops geothermal energy plants in Indonesia.

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Primer: Barito Renewables Energy (BREN IJ) - Sep 2025

Market Leader with Strong Growth Pipeline: Barito Renewables (BREN) is Indonesia's largest geothermal energy producer with 885 MW of installed...

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