Bakrie & Brothers Posts 55% Revenue Jump Through Q3 2026 as Operating Profit Surges

JAKARTA, Investortrust.id — Indonesian diversified conglomerate PT Bakrie & Brothers Tbk (BNBR) recorded a steep increase in top-line growth through the third quarter of 2026, underpinned by an operational turnaround and robust expansions across its green mobility and infrastructure units, the company announced Sunday.

The company posted net revenue of IDR 4.12 trillion ($262 million) for the first nine months ending September 2026, surging 55.45% from IDR 2.65 trillion reported in the same period last year. Gross profit expanded 127.82% year-on-year to IDR 1.13 trillion, up from IDR 495.01 billion, while earnings before interest, taxes, depreciation, and amortization (EBITDA) jumped 707.86% to IDR 810.25 billion.

The sharp acceleration in operational performance underscores BNBR's ongoing strategic pivot toward green industry ventures and commercial transport infrastructure, even as broader capital markets navigate elevated borrowing benchmarks. While higher floating-rate interest obligations tied to newly integrated toll assets exerted pressure on consolidated net profit, the massive top-line expansion indicates that core subsidiaries are successfully capturing market share amid Indonesia's industrial and electric mobility rollout.

Operating profit recorded an extraordinary leap, advancing 2,157% to IDR 596.24 billion compared to just IDR 26.41 billion in the third quarter of 2025. President Director and Chief Executive Officer Anindya Novyan Bakrie pointed to operational discipline and portfolio adaptability amid global macro headwinds as central drivers behind the group's performance.

Electric Mobility and Infrastructure Accelerate Top-Line Gains

Addressing the operational metrics, Anindya stated that the IDR 1.47 trillion net revenue expansion was anchored by double- and triple-digit gains across key subsidiaries. PT VKTR Teknologi Mobilitas Tbk (VKTR), the group's listed electric vehicle and commercial auto components arm, recorded a revenue boost of IDR 348.09 billion, representing a 48.6% year-on-year increase.

Industrial manufacturing and fabrication unit PT Bakrie Metal Industries (BMI) Group contributed an additional IDR 434.65 billion in net revenue, marking a 26.1% advance. Meanwhile, the conglomerate’s infrastructure division, PT Bakrie Indo Infrastructure (BIIN) Group, achieved the largest proportional jump, surging 248.3% year-on-year to add IDR 678.87 billion to the group balance sheet.

Subsidiary Breakdown and Tollway Consolidation Impact

Elaborating on subsidiary milestones, Vice President Director and Co-CEO Anindra Ardiansyah Bakrie highlighted that VKTR’s performance was spearheaded by growing commercial electric vehicle deliveries and higher component demand through auto parts subsidiary PT Bakrie Autoparts (BA) Group.

Within the industrial fabrication sector, BMI's expansion was reinforced across several operating entities, with BMI parent revenue climbing 24.2%, pipe maker BPI advancing 18.8%, and PT Bakrie Construction increasing 36%. Engineering subsidiary PT Suluh Ardhi Engineering (SAE) staged the most pronounced advance, soaring 1,730.3% following an influx of industrial contracts.

Ardi noted that BIIN Group’s standout revenue spike was driven by the full financial consolidation of PT Cimanggis Cibitung Tollways (CCT) starting in 2026. While the consolidation of the strategic toll corridor brought substantial operational revenues and toll-gate cash flows into the consolidated books, rising interest expenses from floating-rate debt instruments tied to CCT continued to present near-term challenges to bottom-line net income.

Despite interest rate sensitivities, management reiterated that the group remains optimistic about the multi-year monetization of its strategic toll road network and expanding footprint across Indonesia’s electric vehicle supply chains.