BNBR Revenue Hits IDR 3.86 Trillion in 2024, Led by Manufacturing and EV Business

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Rabu, 16 April 2025 - 14:00 WIB

Jakarta, VIVA – Bakrie & Brothers (BNBR) recorded a net revenue of IDR 3.86 trillion in 2024, an increase of 2.94% compared to the same period in 2023.

With this performance, BNBR posted a net profit of IDR 336.04 billion, up 27.07% from IDR 264.45 billion last year.

Anindya Novyan Bakrie, President Director and CEO of BNBR, said he feels grateful that the company was able to achieve powerful performance despite global economic uncertainty.

This success came from the hard work of all teams, especially in manufacturing and public transport electrification projects.

The increase in revenue mainly came from Bakrie Metal Industries (BMI), which rose by IDR 247.37 billion (10.8%), and from VKTR Teknologi Mobilitas, which increased by IDR 46.38 billion (44.1%) due to electric bus sales.

BNBR’s Finance Director, Roy Hendrajanto, added that the company’s financial structure is now much leaner and healthier.

After years of restructuring and a quasi-reorganization that took effect in August 2024, BNBR completed a private placement.

As a result, the company’s debt-to-assets ratio dropped from 63% to 43%, and its debt-to-equity ratio fell from 167% to 75%. The current ratio also jumped from 100% to 169%.

As of December 31, 2024, the company reported retained earnings of IDR 329 billion, thanks to the successful removal of a deficit of IDR 19.5 trillion from the quasi-reorganization.

VKTR, BNBR’s electric vehicle unit, completed the first CKD-based commercial EV assembly facility in Indonesia, located in Magelang, Central Java.

The 12-meter electric buses assembled there now have more than 40% local content (TKDN).

VKTR recently delivered 21 electric buses to TransJakarta and made its first sale for airport transportation.

In the private sector, it sold 7 electric buses to a pulp and paper company for employee transport. VKTR also entered the electric truck market, selling a compactor unit for the new capital city (IKN), and sold 7 electric forklifts to internal and private companies.

In renewable energy, BNBR, through its unit Helio, continues to expand rooftop solar power projects.

After completing a plant at Braja Mukti Cakra, it also built a larger rooftop solar system at  Bakrie Pipe Industries.

BNBR has also started a new venture in 3D construction printing through Modula Sustainability Indonesia, in partnership with Denmark’s COBOD International, backed by major global companies like GE, Cemex, Holcim, and Peri.

This move brings BNBR into the advanced, eco-friendly construction tech sector.