PT Bukit Asam (Persero) Tbk · IDX:PTBA
PT Bukit Asam (Persero) Tbk — Investor Presentation (February 2014)
25 slides from PT Bukit Asam (Persero) Tbk's investor presentation, February 2014
Slide 1: Our Vision: An Environmentally Conscious World Class Energy Company
Our Vision: “An Environmentally Conscious World Class Energy Company” www.ptba.co.id Reuters: PTBA.JK Bloomberg: PTBA IJ Exchange: JKT Ticker: PTBA
Slide 2: Contents
Contents 1. Introduction 2. Operational Review 3. Commercial Review 4. Financial Review 5. Project Development Appendices 01
Slide 3: Introduction: Company's Key Milestones
Introduction Company’s Key Milestones Indonesia’s Oldest and Most Experienced Coal Producer During the Dutch colonial PN TABA was converted PTBA was publicly listed period, the first open-pit into a limited corporation on the Jakarta Stock at Airlaya mine, in and its name changed to Exchange with 35
Slide 4: Operational Highlights
Operational Review Operational Highlights 25.0 Revenue (IDR Trillion) Net Profit (IDR Trillion) Railway Capacity (Mn ton) Sales Volume (Mn ton) 18.0 3.08 2.9 17.8 11.6 2.7 15.3 12.9 13.5 11.9 12.8 12.5 12.9 10.6 2.01 11.5 9.0 7.9 1.7 10.8 7.2 10.3 10.5 0.8 4.1 2007 2008 2009 2010 2011 2012 2007 2008
Slide 5: Operations Location
Operational Review Operations Location Mining Business License (IUP) Total Resources 7.29 billion tons Tanjung Enim Mine 66,414 Ha Total Mineable Reserves 1.99 billion tons Ombilin Mine 2,950 Ha Peranap Mine 18,230 Ha PERANAP MINE Recources : 0.79 billion tons IPC Mine 3,238 Ha Mineable : 0.37 billi
Slide 6: Resources & Reserves
Operational Review Resources & Reserves 0.20 bn tons 0.06 bn tons 0.68 bn tons 3.51 bn tons 3.58 bn tons 1.25 bn tons Parameter BITUMINOUS SUB BITUMINOUS LIGNITE TM (% ar) < 18 18 ‐30 > 35 CV (KCal/Kg adb) > 6,400 4,900 – 6,400 < 4,900 (KCal/Kg ar) 5,800 – 7,950 4,400 – 5,800 < 4,400 05
Slide 7: Global Coal Review
Commercial Review Global Coal Review Pacific Basin Seaborne Thermal Coal Import Demand Thermal Seaborne Export by Country (Mt) by Country and Rank (Mt) Source: Wood Mackenzie Coal Market Service, November 2013 Source: Wood Mackenzie Coal Market Service, November 2013 Atlantic Basin Seaborne Thermal
Slide 8: National Coal Review
Commercial Review Indonesian Domestic Demand Vs Exports (Mt) National Coal Review National Energy Mix Planning (%) Source: Wood Mackenzie Coal Market Service, November 2013 Source: Ministry of Energy and Mineral Resources, 2013 Coal Consumption Guidance for Electricity Fuel Mix 2005‐2021 : For Power
Slide 9: Costs & Prices
Financial Review Costs & Prices Total Cash Cost (FOB) 9M13 Total Cost Breakdown FY12 9M12 9M13 YoY Royalty 7.5% Tanjung Enim System *) Others 2.6% Mining Service Salaries & Wages Ex Royalty (IDR) 477,435 491,490 514,675 +5% 25.0% 8.3% Total (IDR) 528,353 543,191 556,984 +3% Fuel 1.3% Heavy Equipment
Slide 10: Coal Brand & Sales Breakdown
Financial Review Coal Brand & Sales Breakdown Coal Brand 9M13 Sales Breakdown by country CV TM IM Ash VM FC TS max Coal Brand HGI Kcal/Kg,adb Kcal/Kg,ar %,ar %,adb %,adb %,adb %,adb %,adb Vietnam IPC 53 5,300 ‐ 34 15 8 39 40 0.5 ‐ 2% BA 55 5,500 4,550 30 15 8 39 38 0.8 50 China BA 59 5,900 5,000 28
Slide 11: Financial Ratios
Financial Review Financial Ratios GROSS PROFIT MARGIN (%) OPERATING PROFIT MARGIN (%) NET PROFIT MARGIN (%) 45 29 32 25 18 15 9M12 9M13 9M12 9M13 9M12 9M13 54.1 48.9 50 39.7 34.6 35 46.2 29.1 31 30.5 44 29 23.7 25.4 25 40 22.9 18.4 3% 1% 23% 51 2% 6% 22% 15% 8% 12% 1% 23% 51% 27% 20% 11% 12% 34% 29%
Slide 12: PTBA Versus Global & Local Peers
Financial Review PTBA Versus Global & Local Peers 30.76% 30 20.63% 20 18.53% 15.58% 9.49% 10 0.05% 0 ACI BYAN BTU BUMI ITMG HRUM BRAU ADRO PTBA Average ‐10 GROSS_MARGIN OPER_MARGIN NET_MARGIN ‐20 ACI : Arch Coal Inc. – USA (NYSE) ADRO : PT Adaro Energi – IDX HRUM : PT Harum Energi – IDX BRAU : PT Be
Slide 13: Summary Financial Performance
Financial Review Summary Financial Performance IDR tntn) (IDR FY12 9M12 9M13 YoY Sales 11.594 8.721 8.123 93% COGS 6.505 4.804 5.738 119% EBITDA 4.011 3.063 1.746 57% Net Income 2.900 2.195 1.243 57% Assets 12.728 11.688 11.372 97% Cash 5.917 5.246 3.266 62% Net Margin 25% 25% 15% 60% Return On Asse
Slide 14: Projects Location
Project Development Projects Location Coal Bed Methane (CBM) - Capacity : ± 40 MMSCF/day - Expect. COD : 2015 4x65MW Power Plant - Capacity : Tanjung Enim - Coal Cons. : 1 M tpa - Since : 1987 Kertapati Palembang 2x110MW Power Plant Barging Port - Location : Banjarsai TANJUNG ENIM MINE - Coal Cons.
Slide 15: Railway Projects
Project Development Railway Projects PT KA – Existing Railway BATR ‐ New Railway Project (BukitAsam Transpacific Railway) Tanjung Enim – Tarahan Port (410 Km) Location Tanjung Enim – New Port in Lampung (280 Km) Tanjung Enim – Kertapati Port (161 Km) ‐ PTBA 10% Shareholders PTKA (State Railway Compa
Slide 16: Production Infrastructure & CBM Projects
Project Development Production Infrastructure & CBM Projects Production Infrastructure Expansion Coal Bed Methane (CBM) Location Tanjung Enim / Kertapati port / Tarahan port Tanjung Enim Shareholders PTBA (100%) PTBA (27.5%), Pertamina (27.5%), Dart Energy (45%) To increase and expand the existing c
Slide 17: Power Generation Projects
Project Development Power Generation Projects Banjarsari Banko Tengah Peranap Mine Mouth Power Plant Mine Mouth Power Plant Mine Mouth Power Plant Location Tanjung Enim Mine Tanjung Enim Mine Peranap Riau Objective To underpin the coal based energy company To underpin the coal based energy company T
Slide 18: Internal Power Generation Projects
Project Development Internal Power Generation Projects Power Plant For Internal Use Power Plant For Internal Use Location Tanjung Enim Tarahan Port Objective Efficiency and Cost Reduction Efficiency and Cost Reduction ‐ First Firing of Unit on 1 November 2011 Completion progress up to January 2014:
Slide 19: The New Look of Tarahan Port in 2014
Appendix The New Look of Tarahan Port in 2014 Note: TOTAL STOCKPILE will be 860,000 tons as of Dec 2013 Stockpile 1 = 60,000 tons Stockpile 4a = 150,000 tons Stockpile 2 = 250,000 tons Stockpile 4b = 150,000 tons Stockpile 3 = 250,000 tons 18
Slide 20: PTBA Structure
Appendix PTBA Structure PTBA operates a fully integrated The Indonesian large coal mining in Tanjung Enim ( South Sumatera), Ombilin (West PTBA Government owns 65% of Total Shares Sumatera), Peranap (Riau), and East Kalimantan with Total Resources & Reserves are 7.29 billion tons and The Subsidiarie
Slide 21: Shareholders Information
Appendix Shareholders Information The Top Twenty Public Shareholders of PTBA as 31 January 2014 No Shareholders\Investors % 1 Tambang Batubara Bukit Asam (Persero), Tbk PT 5.64 2 BPJS Ketenagakerjaan ‐ JHT 2.32 3 Taspen (Persero) – THT, PT 1.54 Share Holders Breakdown 4 BBH Boston S/A Vangrd EMG MKT
Slide 22: Production vs Sales, Index Movement, Revenues vs Net Margin
Appendix PTBA Production Vs Sales 2002 - 2013 Index Movement Dec’02 – Feb’14 19 5500 27450 17.8 5300 25950 18 5100 4900 24450 17 4700 22950 4500 16 15.3 15.1 4300 JCI Jakmine PTBA 21450 15 4100 19950 13.4 13.9 3900 18450 14 12.9 3700 12.7 12.9 3500 16950 13 12.4 12.5 3300 3100 15450 11.6 12 10.8 10.
Slide 23: Projected Sales Volume to 2017
Appendix Projected Sales Volume to 2017 In Million Ton 50.0 44.6 45.0 Actual Forecast 40.0 34.8 35.0 31.2 30.0 25.0 25.0 20.0 17.8 15.3 15.0 12.4 12.9 13.4 10.0 5.0 0.0 2009(A) 2010(A) 2011(A) 2012 (A) 2013(A) 2014(F) 2015(F) 2016(F) 2017(F) TE System Production Total Sales Railways Transportation S
Slide 24: Supporting National Energy Policy
Appendix Supporting National Energy Policy Having A Total Long Term Coal Supply with: o National Power Company\PLN (2010 – 2030) : 262 Mt o Indonesia Power (2013 – 2022) : 52 Mt o Huadian Bukit Asam Power\Power Plant (25 Years) : 150 Mt o Bukit Pembangkit Innovative\Power Plant (30 Years) : 36 Mt
Slide 25: Disclaimer
Disclaimer: This presentation contains forward-looking statements based on assumptions and forecasts made by PT Bukit Asam (Persero) Tbk management. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are
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