BREN - Built on Steam, Powered by Policy

KBVS update
Monday, 15 June 2026

BREN - Built on Steam, Powered by Policy
(Non-Rated)

Solid Earnings Growth Underpinned by Operational Excellence. BREN delivered a strong set of results in 1Q26, with revenue grew +9.8% YoY and net profit expanding +25.6% YoY.

Bright Industry Outlook Supported by Government Policy. Indonesia's energy transition agenda provides a compelling structural backdrop for BREN's long term growth.

Ambitious Capacity Expansion Pipeline Targeting 2.3-2.8 GW by ‘32F. BREN has laid out a clear growth roadmap targeting 1,905–2,430 MW of geothermal capacity and 398 MW of wind capacity by '32F.

Regards,
Atikah Tri Adriyanti - KBVS Research team