Revenue distribution by sectors:

• Battery materials: 60%
• Metal processing: 25%
• Other business fields: 15%

TOP 3 markets and their percentage shares:

• Indonesia: 40%
• China: 30%
• South Korea: 20%

PT Merdeka Battery Materials Tbk. generates the majority of its revenue from the battery materials sector, driven by the increasing demand for lithium-ion batteries and other energy storage solutions. Metal processing complements the business field, especially through the processing of nickel and other metals essential for battery production.

Geographically, Indonesia is the most important market, favored by local presence and proximity to sources of raw materials. China and South Korea follow suit, as these countries are significant players in global battery production and have a high demand for materials from PT Merdeka Battery Materials Tbk.

Production Location: Indonesia

PT Merdeka Battery Materials Tbk. mainly produces its products in Indonesia. The company is engaged in the manufacturing of battery materials and utilizes the country's abundant natural resources, especially nickel, to support its production capacities. Indonesia is known for its significant nickel reserves, making it a strategic location for the production of battery materials.

Strategy for Future Growth:

1. Expansion of Production Capacities: PT Merdeka Battery Materials Tbk. plans to significantly increase its production capacities for battery materials to meet the rising demand for electric vehicles.

2. Investments in Research and Development: The company is increasing its investments in R&D to develop innovative and sustainable battery technologies that offer higher efficiency and longer lifespan.

3. Strategic Partnerships: MBMA actively pursues strategic partnerships with leading technology companies and automakers to gain access to new markets and leverage technological synergies.

This strategy aims to strengthen MBMA's market position in the field of battery materials and establish the company as a leading provider in the global supply chain for electric vehicles.

Commodities/Materials: Nickel, Cobalt
Main importing countries: Australia, Philippines

PT Merdeka Battery Materials Tbk. (IDX:MBMA) is a significant player in the battery production sector, especially for electric vehicles. The company mainly imports nickel and cobalt, which are crucial for battery manufacturing.

Australia and the Philippines are the main suppliers of these raw materials. Australia is known for its extensive nickel deposits, while the Philippines is one of the largest producers of nickel worldwide. These imports are necessary to meet the increasing demand for batteries for electric vehicles and to support the production capacities of PT Merdeka Battery Materials.

Market Share: Estimated 25% in the Indonesian battery materials market (2025)
R&D Investments: 10% of revenue (2024)
Partnerships: Collaboration with leading electric vehicle manufacturers (since 2023)

PT Merdeka Battery Materials Tbk. has established itself as a significant player in the Indonesian battery materials market, with an estimated market share of 25%. This gives the company a substantial competitive advantage in a growing market benefiting from the increasing demand for electric vehicles.

The company continuously invests in research and development, with 10% of revenue in 2024 allocated to this area. These investments enable PT Merdeka to develop innovative and efficient battery materials that meet the requirements of the electric vehicle industry.

In addition, PT Merdeka has formed strategic partnerships with leading electric vehicle manufacturers, enhancing not only sales opportunities but also strengthening the company's position as a preferred supplier. Together, these factors give PT Merdeka a solid competitive edge in a dynamic and promising market.

Institutional Investor Share: 45% (2025, estimated)
Insider Buys/Sells: No significant transactions in the last year (2024)

The institutional investor share in PT Merdeka Battery Materials Tbk. is estimated to be around 45%. This suggests that a significant number of shares are held by professional investors, which is often seen as a sign of confidence in the company's long-term stability and growth potential.

Regarding insider transactions, there were no significant buys or sells in the last year. This could indicate that the management and other insiders are satisfied with the current valuation of the company or do not expect any significant changes in the company's strategy or performance.

Market share of PT Merdeka Battery Materials Tbk (MBMA): 12% (2025, estimated)

Major competitors and their market share:

1. Contemporary Amperex Technology Co. Limited (CATL): 25%
2. LG Energy Solution: 20%
3. Samsung SDI: 15%
4. BYD Company Limited: 10%
5. Panasonic Corporation: 8%

Moat of PT Merdeka Battery Materials Tbk:

PT Merdeka Battery Materials Tbk has a moderate moat, mainly attributed to its access to raw materials and strategic partnerships. The company benefits from Indonesia's abundant nickel resources, crucial for battery production. This gives MBMA a certain cost advantage over some international competitors.

However, companies like CATL and LG Energy Solution have a stronger moat due to their extensive research and development resources and larger production capacities. These companies also have established relationships with major automakers, giving them an advantage in securing long-term supply contracts.

Overall, MBMA has a significant advantage in raw material sourcing but lags behind the leading competitors in terms of technology and production capacity. To strengthen its moat, MBMA could invest in expanding its production capacities and research and development.

Revenue Growth: 18% (2024)
Profit Growth: 20% (2024)
Market Share in Battery Production: 12% (2024)

PT Merdeka Battery Materials Tbk. recorded strong revenue growth of 18% in 2024, driven by increasing demand for battery materials. The company is benefiting from the global shift to electric vehicles and renewable energy, leading to a 20% profit growth in the same period.

With a 12% market share in battery production, the company positions itself as a significant player in the industry. The strategic focus on sustainable and innovative technologies could further promote future growth.

The long-term outlook for the battery industry is positive, and PT Merdeka Battery Materials Tbk. appears well-positioned to benefit from these trends. Therefore, the stock could present an attractive investment opportunity for investors interested in participating in the renewable energy and electromobility sector.

Dividend: No payout (2025)

PT Merdeka Battery Materials Tbk. did not distribute any dividends in 2025. The company is in a growth phase and reinvesting its profits in expansion and the development of new projects, especially in the field of battery materials.

The reliability of dividend payments is currently considered low, as the company is focusing its resources on growth and gaining market share. In the battery materials industry, it is common for companies in the early stages of development not to pay dividends in order to expand their capacities and technological capabilities.