Pt Akr Corporindo Tbk · IDX:AKRA
Pt Akr Corporindo Tbk — H1 2024 Earnings Presentation
28 slides from Pt Akr Corporindo Tbk's earnings presentation, Jul 25, 2024
Slide 1: PT AKR Corporindo Tbk 1H2024 Result Analyst Briefing
PT AKR Corporindo Tbk 1H2024 RESULT ANALYST BRIEFING 25th July 2024 Hosted by 1
Slide 2: Forward Looking Statement
Forward Looking Statement No representations and warranties shall be made in relation to the reasonableness, accuracy, completeness or correctness of the information or opinions contained in this presentation. PT AKR Corporindo Tbk (the "Company) together with members of the Board of Directors and B
Slide 3: CEO Message & Business Analysis
CEO Message & Business Analysis Haryanto Adikoesoemo 3
Slide 4: 1H 2024 Result Highlights – Maintaining Growth Momentum Despite Challenges
1H 2024 Result Highlights – Maintaining Growth Momentum Despite Challenges 1H 2024 Performance Highlights Larger contribution from Industrial Estate Logistic 1H24 1H23 and Industrial Logistic and Manufacturing Industrial Manufact Estate 7% Estate uring 22% 18% 6% Trading and Distributio n Trading an
Slide 5: Trading and Distribution – Maintaining Growth Momentum Despite Challenges
Trading and Distribution – Maintaining Growth Momentum Despite Challenges Trading and Distribution Gross Profit JIIPE Revenue 1,600.00 600 1,400.00 500 1,200.00 400 1,000.00 IDR bn IDR bn 800.00 300 600.00 200 400.00 100 200.00 - - 1H18 1H19 1H20 1H21 1H22 1H23 1H24 1H18* 1H19 1H20 1H21 1H22 1H23 1H
Slide 6: Industrial Estate Business – Recurring Income is improving
Industrial Estate Business – Recurring Income is improving PTFI Commissioning Industrial Utilities Started To Take Off Industrial Estate Utilities Revenues 80 70 60 50 IDR bn 40 30 20 10 - • On 27th June 2024, the Inauguration of Copper Smelter Initial 1H20 1H21 1H22 1H23 1H24 Phase of Operations wa
Slide 7: 2H2024 – Diversification of Business helps to Reach 2024F Target
2H2024 – Diversification of Business helps to Reach 2024F Target during Challenging Time Diversification of Business Signing CSPA with Hebang for the New Land Allocation 1,400 1,200 1,000 800 600 400 200 - Trading and Manufacturing Logistics Industrial Estates Distribution 1H2024 1H2023 • 2H usually
Slide 8: Interim Dividend: 98% Payout Ratio – Consistent Track record of Dividend payouts
Interim Dividend: 98% Payout Ratio – Consistent Track record of Dividend payouts Earnings Guidance Revision Dividend per share Dividend payout Total Annual Year DPR (%) (IDR/share) (IDR Bn) Div. Yield 2017* 40 801 47% 6% 2018* 48 963 67% 11% Net profit growth: Net profit growth: 2019 22 442 62% 9% 1
Slide 9: Financial Analysis
Financial Analysis Ignatius Teguh Prayoga 9
Slide 10: Highlight of Profit and Loss
Highlight of Profit and Loss 1H 2024 Income Statement (IDR bn) ` 1H 2024 1H 2023 % Remarks Total Revenue 18,651 19,854 -6% Lower ASP of Petroleum, Chemical Products and land Cost of Sales and Revenue (17,067) (18,045) -5% sales Several challenges in the trading and distribution Gross Profit 1,584 1,
Slide 11: Gross Profit Breakdown Revenue Breakdown
Higher contribution from Industrial Estate 1H24 1H23 Logistic and Industrial Estate Logistic and Industrial Estate Revenue Breakdown Manufacturing 3% Manufacturing 4% 4% 4% Trading and Trading and Distribution Distribution 92% 93% 1H23 Gross Profit Breakdown Logistic and 1H24 Logistic and Manufactur
Slide 12: Per Segment Analysis 1H vs 2H
Per Segment Analysis 1H vs 2H Trading and Distribution Gross Profit Trading and Distribution Gross Profit 1,600.00 • The trading and distribution segment gross 2,500.0 1,400.00 profit declined by -18%yoy due to 1) Strategies taken to slower mining activity 2) 2,000.0 1,200.00 Lower chemical ASP due
Slide 13: Still maintaining new level Despite Facing Challenges
Still maintaining new level Despite Facing Challenges Gross profit Operating Profit NPATMI 2,000 1,600 1,200 1,800 1,400 1,000 1,600 1,200 1,400 800 1,000 1,200 IDR bn IDR bn IDR bn 1,000 800 600 800 600 400 600 400 400 200 200 200 - - - 1H18 1H19 1H20 1H21 1H22 1H23 1H24 1H18 1H19 1H20 1H21 1H22 1H
Slide 14: Historical Seasonality – Driven by higher performance of Trading and Distribution
Historical Seasonality – Driven by higher performance of Trading and Distribution and Industrial Estate Land Sales in 2H 1H vs 2H Earnings 1H vs 2H Trading and Distribution Gross Profit 2,000 2,500.0 1,800 2,000.0 1,500.0 1,600 IDR bn 1,000.0 1,400 500.0 1,200 - 1H 2H 1H 2H 1H 2H 1H 2H IDR bn 1,000
Slide 15: Stronger Working Capital and Cash Position
Stronger Working Capital and Cash Position ROA and ROE Balance Sheet Composition • The 1H24 ROE and ROA is still within new level of profitability Cash Others-Non compared to before 2019, despite 17% 19% 19% Current 18% facing several challenges in Trading 27% and distribution segment. 12% 9% 10% 7%
Slide 16: Business Prospect
Business Prospect 16
Slide 17: AKR Business Growth Profile
AKR Business Growth Profile Stable Growth Monetization Period Growth Mode Industrial Utilities B2B Chemicals Industrial Estate – 2024 Land sales Port Business (Equity Method) 2024 Retail Petroleum 2025 Aviation Fuel B2B Petroleum Gas Terminal Renewable Energy – Solar Panel 17 17
Slide 18: Focus on Serving Increased Demand from Eastern Indonesia
Focus on Serving Increased Demand from Eastern Indonesia New Mining & Industrial Activities in Mineral Rich Area Offers Opportunities for Petroleum & Chemicals Severe Rainfall During 1H2024 * Expecting weather for Mining Activity in Q3’24* Jan 2024 Feb 2024 Mar 2024 Mining Production Expected to Imp
Slide 19: Gas Stations
bp AKR Retail Focusing on Network Expansion Reaching 55 Gas Station in 1H 2024 Citralake Parung Margonda Raya, Depok Minangkabau, Jakarta Rafles Hills, Cibubur Legok Summarecon, Tangerang Joglo Raya, Jakarta Embong Malang, Surabaya Kelapa Gading, Jakarta Jalan Panjang, Jakarta Focus on Network Expan
Slide 20: Industrial Estate – Expecting Higher Land Sales In 2H2024 And Improving Utilities Revenues
Industrial Estate – Expecting Higher Land Sales In 2H2024 And Improving Utilities Revenues • JIIPE booked land sales of 18.1HA JIIPE 1H2024 Land Sales Industrial Estate Utilities Revenues during 1H2024 resulting IDR 509bn of revenue, 6% higher than 1H2023, 120 suggesting higher ASP due to land 80 10
Slide 21: Industrial Estate – Ecosystem of Anchor Tenants Started to Develop
Industrial Estate – Ecosystem of Anchor Tenants Started to Develop Attracting New Inquiries Land Inquiries for the next 5 years Ecosystems of Industry Developed in JIIPE Other Manufacturing 4% EV & Renewable 22% Multipurpose Copper and and Solar Chemicals* other Metals Glass Various chemical Basic M
Slide 22: Building a strong Recurring Income Base which Will Supplement Land Sales
Building a strong Recurring Income Base which Will Supplement Land Sales Based on current requirements & projected sales, Revenue & Profit are Estimated Below Projected Industrial Estate Segment Revenue* Projected Industrial Estate Utilities Gross Profit* 18,000 2,500 16,000 14,000 2,000 12,000 1,50
Slide 23: ESG initiatives and Strategies
ESG initiatives and Strategies 23
Slide 24: As of 2024, AKR received an MSCI ESG Rating of “A”
As of 2024, AKR received an MSCI ESG Rating of “A” MSCI ESG Rating of AKR 2024 Sustainalytics Score of AKR 2024 MSCI Report Notes ❑ PT AKR’s GHG intensity of 20 tons CO2e/USD sales over FY 2020–22 was lower than the industry average of 933 as of February 2024. ❑ With operations solely in Indonesia a
Slide 25: ROAD MAP: AKR Horizon 2030
AKR Horizon 2030 as our Formulation Towards Sustainability Business Portofolio Our People & Community Our Conduct Building strong, robust and resilient Nurturing, developing, and safeguarding Operating responsibly and upholding business portfolio to support the evolving our people as our most valuab
Slide 26: AKR Focuses Towards Sustainable Future
AKR Focuses Towards Sustainable Future AKR's Climate Resilience Approach Maximizing JIIPE's Potential as a Green Industrial Area Strengthening Logistic & supply Sustainable chain capability and expansion to Development and Eastern Indonesia; Strengthening of JIIPE development as Green Business Portf
Slide 27: 1H2024 Result Key Takeaways
1H2024 Result Key Takeaways 1H2024 – Key Highlights FY 2024 Guidance • AKR maintain the momentum of growth with net earnings reaching IDR 1,003bn • Trading and Distribution still sustain despite several challenges in mining industries. Jun24 already saw higher traction from mining companies • JIIPE
Slide 28: Thank You
THANK YOU Contact Details: Corporate Secretary [email protected] Investor Relation [email protected] AKR Tower Jl. Panjang No.5 Kebon Jeruk Jakarta Barat 11530 Indonesia http://www.akr.co.id/ 28