Chandra Asri (TPIA) Posts Record Profit of Rp 26 Trillion in First Half of 2025
Main Takeaways
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JAKARTA, investortrust.id — Indonesia’s largest integrated petrochemical company PT Chandra Asri Pacific Tbk (TPIA) has posted its highest-ever net profit of $1.6 billion (Rp 26 trillion) in the first half of 2025, marking a dramatic turnaround from a net loss in the same period last year.
The company attributed the surge in earnings to its acquisition of Aster Chemicals and Energy Pte. Ltd., a Singapore-based downstream energy and chemicals firm previously owned by Shell. The transaction was completed on Tuesday, Apr. 1, 2025, and contributed significantly through bargain purchase accounting.
Andre Khor, Chief Financial Officer and Director of TPIA, described the acquisition as a strategic milestone that strengthened Chandra Asri’s financial structure and broadened its presence across the chemicals, energy, and infrastructure sectors.
“This acquisition expands our footprint and reinforces Indonesia’s competitiveness in the global petrochemical market,” Khor said in an official statement to the Indonesia Stock Exchange (IDX) on Thursday, July 31.
Beyond the Aster deal, TPIA also celebrated a successful listing of its infrastructure subsidiary, PT Chandra Daya Investasi Tbk (CDIA), which went public on Wednesday, July 9. The IPO raised Rp 2.37 trillion ($147 million) and was oversubscribed 15 times. CDIA focuses on four core segments: energy, water, logistics, and storage.
“This overwhelming investor response highlights confidence in CDIA’s long-term strategy,” Khor added.
Sustainability, Growth, and Record Revenue
Chandra Asri also reported strong progress in sustainable financing. The company met performance targets on its sustainability-linked loan (SLL), allowing for a reduction in lending margins and lowering its overall cost of capital.
“We are proud to demonstrate that our growth and consolidation strategy yields robust financial performance while upholding strong sustainability governance,” said Khor.
TPIA, controlled by Indonesia’s richest businessman Prajogo Pangestu, is reinforcing its position as a key player in the regional petrochemical industry and a strategic partner in Indonesia’s green economy transition.
First-half revenue soared 237.7% to $2.92 billion, up from $866.5 million a year earlier. Revenue contributions came from the refining segment at $1.07 billion, chemicals at $1.79 billion, and infrastructure at $62.9 million.
Adjusted EBITDA jumped from $17.9 million in H1 2024 to $1.76 billion in H1 2025. Total assets surged 83.5% to $10.38 billion, while equity rose from $2.92 billion to $4.87 billion.
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