Pt Mega Manunggal Property Tbk · IDX:MMLP
Pt Mega Manunggal Property Tbk — Q1 2022 Earnings Presentation
44 slides from Pt Mega Manunggal Property Tbk's earnings presentation, August 2022
Slide 1: Q-1 Presentation March 2022
June 2021 PT Mega Manunggal Property Tbk MARCH 2022 PT. Mega Manunggal Property Tbk Q-1 PRESENTATION 1
Slide 2: Disclaimer
Disclaimer The information contained in this presentation has been prepared by PT Mega Manunggal Property Tbk. (the “Company”) and is being furnished to you solely for your information and may not be reproduced or redistributed to any other person, in whole or in part in any manners or for any purpo
Slide 3: Presentation Agenda
PRESENTATION AGENDA Section Pages 1 Who we are 4 2 Growth strategy 17 3 Assets and Projects Development 21 4 Growth opportunity 24 5 Key financial 34 6 Other financial info 40 3
Slide 4: Section 1 - Who We Are
SECTION - 1 WHO WE ARE 4
Slide 5: Company at a Glance
COMPANY AT A GLANCE Overview PT. Mega Manunggal Property Tbk -“MMP” is a warehouse provider that supports industrial property needs in Indonesia, focusing on develop, own and operate logistic properties that specifically meets international standards. Established since mid 2010, currently MMP has NL
Slide 6: Board of Directors
BOARD OF DIRECTORS Hungkang Sutedja President Director He was officially appointed as President Director of the Company in 2020 based on the Decision of the Annual GMS on August 31, 2020 as stated in Deed no. 52 dated 31 August 2020 made before Notary Ashoya Ratam, SH, M.Kn. Previously has been serv
Slide 7: Company Milestone
COMPANY MILESTONE The Company was established under Building Partnership MMP formed new the name of PT with Reco Indolog Joint Venture with Mega Manunggal Pte. Ltd (GIC) AIP and AJ Manulife Property Indonesia* Conduct The Signing of Initial Public Offering Co-operation Agreement (IPO) with Alpha Inv
Slide 8: Company Structure
COMPANY STRUCTURE PT Mega Manunggal Property Tbk 99.68% 99.76% Intirub MTP 52.16% 28.84% 19.00% 99.68% 99.99% 99.62% 55.00% 45.00% MKP RECO INDOLOG HCS MJLP MCIP Pte. Ltd (GIC) ILO 99.99% 99.99% 99.99% 99.99% 99.62% 99.62% 99.62% 99.62% MDP SHP MBPL BPL MAP MARP MANP MSAP 99.99% 99.99% 99.99% 99.99%
Slide 9: Corporate Action in 2020
CORPORATE ACTION IN 2020 28.84% 52.16% 19.00% Unilever Li & Fung Selayar Intirub Total NLA : 163,930 m2 Implementing “Asset Light Strategy”, in June 2020 together with Alpha Investment Partners Limited (“Alpha”), PT Asuransi Jiwa Manulife Indonesia, the Company (MMP) entered into a new venture – PT
Slide 10: Warehouse Portfolio
WAREHOUSE PORTFOLIO Post corporate action in late 2020, the Company now has 13 (thirteen) warehouses under management, 9 (nine) of which are owned by the Company through PT. MKP and the other 4 (four) warehouses belong to PT. ILO ownership. Assets under MKP SCP - Block AE MPP- Cibatu MPLN - Cileungs
Slide 11: Investment Consideration
INVESTMENT CONSIDERATION 1 Provider of high quality and international standard logistic properties 2 Proven track record in developing and delivering logistic properties 3 Solid business model that provides stable and recurring cash flow 4 Strategically located logistic properties in Indonesia 5 Div
Slide 12: Provider of high quality and international standard logistic properties
1. Provider of high quality and international standard logistic properties We are the first mover in provider of modern logistic property, focusing on developing, owning and operating logistic properties, with a focus in warehousing that specifically meet international standards Typical specificatio
Slide 13: Proven track record in developing and delivering logistic properties
2. Proven track record in developing and delivering logistic properties MMP has proven track record in acquiring land, developing and managing logistic properties, which generally takes around 9 to 24 months to complete construction. Below are the growth of logistic properties under MMP Warehouse Ma
Slide 14: Solid business model that provides stable and recurring cash flow
3. Solid business model that provides stable and recurring cash flow MMP focuses on developing a warehouse with the size of 10,000 to 100,000 sqm. Stable operating cash flow with greater upside potential from improving economy cycle, while at the same time sheltered against downside risks from eco
Slide 15: Strategically located logistic properties in Indonesia
4. Strategically located logistic properties in Indonesia Located in Java Island that is the centre for industries with the largest industrial estates in Indonesia Near centre of production and consumption MMP Warehouses and Land bank Location in Jabodetabek Easy access towards transportation ne
Slide 16: Diversified and strong client base
5. Diversified and strong client base Tenant profile of MMP’s logistic properties as of Mar 2022 Clients Logistic E- commerce 12% 12% Automotive - Trading 33% 43% Manufacturing Manufacture Logistics E-commerce Others 16
Slide 17: Section 2 - Growth Strategy
SECTION - 2 GROWTH STRATEGY 17
Slide 18: A Strategy to Achieve Scalable Size
A STRATEGY TO ACHIEVE SCALABLE SIZE Our strategy is simplified into three factors – funding, efficiency, and volume. The timely ability to seek a flexible funding structure and continuous effort to reduce cost will maximize yield to cost. This will lead to greater profitability. Three factors of suc
Slide 19: Focus in Specifically Crafted Warehouse
FOCUS IN SPECIFICALLY CRAFTED WAREHOUSE Facts MMP has a track record of building complex construction Increase profitability Our capabilities to build high specification Increase recurring revenue warehouses: - Superflat floors Results in higher-margin since the majority - Double-decker wa
Slide 20: Continue to Improve Operational Efficiency
CONTINUE TO IMPROVE OPERATIONAL EFFICIENCY Integrated IT platform Reducing cost Investing in the operating system to release some of Outsourcing to support our services including cleaning the operational bottlenecks and to improve our service, parking, etc. productivity Standardize warehouse s
Slide 21: Section 3 - Asset and Project Development
SECTION - 3 ASSET AND PROJECT DEVELOPMENT 21
Slide 22: Our Assets Location and Pipeline
OUR ASSETS LOCATION AND PIPELINE Tanjung Pr iok Seapor t Industr ial Estate Soek arno-Hatta Ex pansion Ar ea Int’ l Air por t Airport warehouse Pondok Ungu warehouse Intirub Business Park Halim PK Air por t MM2100 Jababeka LF Warehouse Delta Silicon Cibatu Warehouse Selayar Warehouse Block AE Unilev
Slide 23: Our Assets Location and Pipeline
OUR ASSETS LOCATION AND PIPELINE MMP properties Tanjung Perak Port Juanda Air Port Toll Roads In Operation Under construction Planning In (Km) Manyar Warehouse Distance to Surabaya 31 Distance to Airport 52 Distance to Tanjung Perak Port 29 23
Slide 24: Section 4 - Growth Opportunity
SECTION - 4 GROWTH OPPORTUNITY 24
Slide 25: Evolution of the Logistic Sector
EVOLUTION OF THE LOGISTIC SECTOR The logistics sector in Indonesia remains nascent in comparison to other markets in the region, particularly compared to more mature markets such as Singapore and Australia. Notwithstanding this, the growth potential is huge and there are signs of a fundamental imbal
Slide 26: Evolution of the Logistic Sector
EVOLUTION OF THE LOGISTIC SECTOR The logistics sector has seen gradual development in recent times. However, at present most supply chain operations remain largely inefficient. Only in recent years has the market begun to evolve from the traditional ‘gudang’ style of warehouse to modern logistics wa
Slide 27: Demand Situation
Cikarang Occupied Jakarta ™Vacant @ Occupancy Rate 10% Almost half of the modem warehouse space is occupied by 3PLs Due to the build to suit nature of the market, most warehouses are fully occupied 100% Third Party Logistics 27
Slide 28: A Nascent Industry to Enter
A NASCENT INDUSTRY TO ENTER Logistic cost as % of total GDP 26% 19% 14% 13% 9% 8% 9% 2016 2020 2035 Singapore Malaysia Japan South Korea 28
Slide 29: High Logistic Cost Demand Better Infrastructure
HIGH LOGISTIC COST DEMAND BETTER INFRASTRUCTURE “Besides the very high cost, logistic services in Indonesia are also bad like intervals in Indonesia for imported commodities requiring 5.5 days and transportation is also very costly” – The Indonesia Chamber of Commerce and Industry (Kadin) “Indonesia
Slide 30: Progress of Toll Road Project
PROGRESS OF TOLL ROAD PROJECT Jabodetabek jakarta - Cikampek II Selatan (64 km) Serpong - Cinere (10.1 Km) 6 Tol dalam Kota Jakarta (31.2 km) Bogor ring Road II (4.5 Km) Serpong Balaraja (5.2 Km) Cibitung - Cilincing (34.77 Km) Cimanggis - Cibitung (26.8 Km) Depok - Antasari (28 Km) Cinere - Jagoraw
Slide 31: Progress of Toll Road Project
PROGRESS OF TOLL ROAD PROJECT Non Trans Jawa Trans Jawa AP Pettarani (4.3 Km) Porong - Gempol (6.3 Km) Probolinggo - Banyuwangi (172.9 Km) Serang - Panimbang (33.0 Km) Pasuruan - Probolinggo (45.0 Km) Manado - Bitung (39.9 Km) Gempol - Pasuruan (34.2 Km) Balikpapan - Samarinda (99.6 Km) Ngawi - Kert
Slide 32: Attractiveness of Connectivity and Established Infrastructures – Greater Jakarta
Attractiveness of Connectivity and Established Infrastructures – Greater Jakarta Toll Roads Railways Airports Greater Jakarta has been Greater Jakarta has integrated Jakarta is also supported by connected by 18 toll roads with railways transportation, which two major airports which length of 2
Slide 33: Attractiveness of Location and Connectivity - Surabaya / East Java
Attractiveness of Location and Connectivity - Surabaya / East Java Expansion target Area – East Java Greater Surabaya Key Industry Served :FMCG, FnB, Electronic, Chemicals Tanjung Perak Port 6 Km 21 Km 22 Km Juanda air Port 35 Km In terms of land prices and availability, Gresik and Sidoarjo seem pot
Slide 34: Section 5 - Key Financials
SECTION - 5 KEY FINANCIALS 34
Slide 35: Solid Warehouse Growth
SOLID WAREHOUSE GROWTH MMP has successfully increase NLA growth and maintain occupancy rate, especially during pandemic period. Currently, our NLA under management stood at 534,045 sqm at 91.7% of occupancy rate Development of NLA and Occupancy Rate 800,000 110.0% 99.9% 99.6% 98.6% 700,000 100.0% 93
Slide 36: Key Performance Matrix
KEY PERFORMANCE MATRIX 2017 2018 2019 2020 2021 Q1 22 Net Leasable Area, m2 Built to suit 185,355 185,355 223,084 252,287 252,287 252,287 Multi tenants 45,015 115,325 116,917 198,540 278,766 281,758 Total, m2 230,370 300,680 340,001 450,827 531,053 534,045 Operational metric (Warehouse under Occupan
Slide 37: Summary of Profit and Loss
SUMMARY OF PROFIT AND LOSS Aside from recurring income from leasing its own logistic properties, MMP also has recurring value creation from recognition over increase in fair value of investment properties. Each investment properties that have been completed will be measured at fair value. Summary of
Slide 38: Summary of Financial Position
SUMMARY OF FINANCIAL POSITION Investment properties that is measured in the fair value is the largest component of asset in the summary of financial position of MMP. From liability side, MMP is currently sourcing its financing from the equity, debt and bank loan. With strong value creation from inve
Slide 39: Summary of Financial Position
SUMMARY OF FINANCIAL POSITION Revenues - IDR Bn EBITDA - IDR Bn 300 334 337 250 299 317 250 220 216 200 200 209 146 150 100 73 81 56 58 50 - 2017 2018 2019 2020 2021 Q1' 21 Q1' 22 2017 2018 2019 2020 2021 Q1' 21 Q1' 22 Equity - IDR Bn Gross Capital Expenditure - IDR Bn 7,000 6,157 6,203 986 5,627 5,
Slide 40: Section 6 - Other Financial Info
SECTION - 6 OTHER FINANCIAL INFO 40
Slide 41: Balance Sheet
BALANCE SHEET Rp mn 2017 2018 2019 2020 2021 Q1' 22 % YTD Cash and Equivalents 201,516 152,175 129,320 1,252,298 770,334 781,866 1.5% Other current assets 189,163 245,981 438,046 376,235 383,508 382,397 -0.3% Property & equipment 12,327 11,917 8,213 2,251 1,739 4,962 185.4% Investment properties 4,5
Slide 42: Profit and Loss Statement
PROFIT AND LOSS STATEMENT Rp mn 2017 2018 2019 2020 2021 Q1' 21 Q1' 22 % Y/Y Revenue 208,794 299,234 333,987 336,777 316,572 73,141 81,203 11.0% Cost of revenue 20,146 25,396 28,566 27,385 28,800 5,536 7,214 30.3% Gross profit 188,648 273,838 305,421 309,392 287,772 67,604 73,989 9.4% G&A 46,202 57,
Slide 43: Cash Flow
CASH FLOW Rp mn 2017 2018 2019 2020 2021 Q1' 21 Q1' 22 % Y/Y Cash flow from operating activities Cash Receipt from Customer 226,867 348,340 416,183 277,298 341,057 91,679 73,964 -19.3% Payment to Supplier and Operating (174,166) (126,417) (174,279) (111,377) (120,619) (29,976) (18,579) -38.0% expens
Slide 44: Thank you
Thank you Visit us : www.mmproperty.com 44 Email us : [email protected]
PT Mega Manunggal Property — Q1 2022 Earnings Presentation on 6ix