Pt Buma Internasional Grup Tbk · IDX:DOID
Pt Buma Internasional Grup Tbk — PT Delta Dunia Makmur — H1 2022 Earnings Presentation
35 slides from Pt Buma Internasional Grup Tbk's earnings presentation, July 2022
Slide 1: Investor Presentation July 2022 (1st Half)
Investor Presentation July 2022 (1St Half)
Slide 2: Disclaimer
Disclaimer These presentation materials have been prepared by PT Delta Dunia Makmur Tbk (“Delta”) (the “Company”), solely for the use at this presentation and have not been independently verified. Information relating to PT Bukit Makmur Mandiri Utama (“BUMA”) has been included with its content, and
Slide 3: 1H22 Financial Highlights
1H22 Financial Highlights Overburden Removal and Coal Revenue EBITDA FY22 Overburden Guidance 260 MBCM US$ 723M US$ 164M 480 - 565 MBCM FY22 Coal Guidance Up 83% Y-o-Y Up 107% Y-o-Y 26.0% EBITDA Margin 41 MT 74 - 86 MT Up 64% Y-o-Y FY22 Revenue Guidance Operating Cash Flow Net Profit/(Loss) Net Debt
Slide 4: Highlights in 2021
Highlights in 2021 Financial Operations Growth Looking Ahead – FY2022 ▪ Refinanced with a US$400M ▪ New Contracts/Extensions: ▪ Mining Services ▪ Announced the extension of BUMA 2026 bond - same pricing, more Australia’s contract with the BHP – New five-year contract with – Expanded geographical fle
Slide 5: Company Overview, Financial Overview, Key Investment Highlights
Company Overview Financial Overview Key Investment Highlights Mining Services Overview Appendix 5
Slide 6: Corporate Overview
Corporate Overview Public NTP Ltd (SHPL) Treasury Shares shareholders 37.9% 6.9% 55.2% listed on IDX Holding 100%1 Operating 100% Operating (2001) company company company ▪ Established in 1990, listed in IDX as ▪ Established in 2021 to acquire the Open DOID in 2001. ▪ Established in 1998, and wholly
Slide 7: Corporate Strategy – Sources of Fund
Corporate Strategy – Sources of Fund CORE BUSINESS US$m, unless stated1 FY183 FY19 FY20 FY21 1H22 OB Removal (MBCM) 393 380 282 326 260 Revenue 892 882 602 911 723 EBITDA 298 236 164 234 164 % EBITDA margin3 36% 29% 29% 28% 26% EBIT 164 88 20 82 51 % EBIT margin3 20% 11% 4% 10% 8% ▪ BUMA is Indonesi
Slide 8: Corporate Strategy – Usage of Fund
Corporate Strategy – Usage of Fund OPERATIONAL EXCELLENCE Supported by: ▪ Synergy between Fleet Management System and Operational Excellence and Safety System ▪ Good capital management Strong and stable cashflows will drive growth pillars ADVANTAGE: DIVERSIFY: COMMODITIES DIVERSIFY: GEOGRAPHY ADVANT
Slide 9: Financial Overview
Company Overview Financial Overview Key Investment Highlights Mining Services Overview Appendix 9
Slide 10: Financial Highlights
Financial Highlights Overburden Removal1 (m bcm), Coal Production & Hauling (m tonnes) Revenue1,2 (US$m) OB Removal Coal Production Hauling Guidance Guidance 1,300 – 480 - 565 1,500 393 380 340 326 892 882 911 282 260 765 723 602 74 - 86 40 42 50 45 54 41 5 5 13 12 14 7 FY17 FY18 FY19 FY20 FY21 1H22
Slide 11: Financial Results
Financial Results US$m, unless stated FY20 FY21 Change 1H21 1H22 Change ▪ Overburden Removal increased by 83% from 1H21 Volumes – 1H22 reflects volume recovery and incremental volume from new contracts, Overburden Removal 282 326 16% 142 260 83% and BUMA Australia included (m bcm) ▪ Revenue increase
Slide 12: Balance Sheet and Cashflow
Balance Sheet and Cashflow ▪ Liquidity position US$m, unless stated Dec 21 Mar 22 Jun 22 – Free cash flow decreased reflected an incremental USD16mn capital expenditure to Key Balance Sheet Items support growth expected from two new contracts signed Cash Position1 221 155 160 – Net debt to EBITDA ra
Slide 13: Capital Expenditure
Capital Expenditure FY21 Capital Expenditure FY22E Capital Expenditure1 340 Guidance 150 - 200 ▪ Growth Capital Expenditure: ▪ Growth Capital Expenditure: – Core Fleet for ADR Tutupan – Carry forward Core Fleet for ADR Tutupan – Core Fleet for IPR Expansion c.60% – Core Fleet for IPR Expansion c.86
Slide 14: Weather Challenges
Weather Challenges Total Rainfall Hours at Mine Site in Indonesia Total for the Rainfall ▪ Higher rainfall throughout the early Year Hours months of 2021 compared to the 2017 823 same months in previous years and 2018 758 continued to 2022. 2019 745 2020 974 ▪ June rainfall started to decrease 2021
Slide 15: Key Investment Highlights
Company Overview Financial Overview Key Investment Highlights Mining Services Overview Appendix 15
Slide 16: Key Investment Highlights
Key Investment Highlights Scalable Core Business: Secure contracts with long-term clients provide predictable and 1 stable revenues Track Record: History of improving operating performance, reducing maintenance costs 2 and efficient CAPEX strategy Capital Management: Active capital management throug
Slide 17: Scalable Core Business: Secured, long-term contracts
1 Scalable Core Business: Secured, long-term contracts.. Contracts Orderbook No Indonesia Customers Years of Existing Contract US$7.5bn Relationship Period Kalimantan 1 Adaro (Paringin)2 16 years 2009-20221 2 Adaro (Tutupan) 16 years 2021-2025 16.1% North Kalimantan 3 Angsana Jaya Energi (AJE) 3 yea
Slide 18: …provide predictable and stable revenues
1 …provide predictable and stable revenues BUMA Revenue (US$m) BUMA Australia Revenue1 (US$m) Australian regulation, Impact of COVID-19 border closures and vaccination program prevented any material disruption from COVID- 19 892 882 911 392 385 362 356 765 602 282 FY17 FY18 FY19 FY20 FY21 FY17 FY18
Slide 19: Track Record: History of improving performance
2 Track Record: History of improving performance… Repair and Maintenance Cost per BCM (US$/BCM) Production Parameters Physical Availability Loader Hauler 0.49 100% 91.2%89.5% 90.6%88.2% 90.3%88.0% 91.1%89.7% 87.4%88.3% 86.9%87.9% 80% 60% 40% 0.46 20% 0% FY17 FY18 FY19 FY20 FY21 1H22 0.43 Utilization
Slide 20: Track Record: …and efficient CAPEX strategy
2 Track Record: …and efficient CAPEX strategy Capital Expenditure (US$m) Minimum capital Peak of replacement cycle coupled with growth that New contracts with significant spending, made up for current existing capacity increase in volumes (orderbook given excess capacity in the growth), requiring hi
Slide 21: Capital Management: >60% of debt due in 2026 or later
3 Capital Management: Active capital management sees >60% of debt due in 2026 or later Capital Management in 2022 Debt Maturity Profile (US$m) US$400 million Senior Notes – Rated BB- by Fitch (Stable), Ba3 by Moody % of Debt Due 5% 10% 12% 15% 58% 0% ▪ Refinancing of previous debt structure complete
Slide 22: Opportunistic Growth: Strong cashflows to drive diversification and growth
4 Opportunistic Growth: Strong and stable cashflows to drive diversification and growth EBITDA (US$m) ▪ By Region: Now one of the key contractors in two of the world’s key mining jurisdictions ▪ By Client: Diversifying and strengthening our contract book and client Diversification base, focusing on
Slide 23: Dedicated management team with significant industry experience
5 Dedicated management team with significant industry experience and expertise Highly experienced leadership team, supported by Board of Commissioners with significant experience in the mining industry and expertise across capital markets and private equity Delta Dunia Board of Commissioners Delta D
Slide 24: Dedicated management team with significant industry experience
5 Dedicated management team with significant industry experience and expertise Operational excellence underpinned by a strong and highly experienced management team with long tenures in the company BUMA Senior Management BUMA Australia Senior Management ◼ President Director of BUMA since 2021 ◼ Gene
Slide 25: Mining Services Overview
Company Overview Financial Overview Key Investment Highlights Mining Services Overview Appendix 25
Slide 26: Overview of Mining Services
Overview of Mining Services Planning and scheduling of mining operations within Provides overburden removal, coal mining and coal Coal mining contract miners play a critical role in the parameters set by the mine owners transportation services Indonesian coal industry BUMA work scope covers the full
Slide 27: Operational Strategies
Operational Strategies Cost Efficiency Initiatives - Maintenance Digital Maintenance • Digitizing our manual maintenance procedures (WICOPE) • Streamlining maintenance process while producing more accurate and higher quality results • Further improving control over the maintenance process and provid
Slide 28: Appendix
Company Overview Financial Overview Key Investment Highlights Mining Services Overview Appendix 28
Slide 29: Consolidated Performance – 1H2022
Consolidated Performance – 1H2022 Consolidated Statements of Financial Position Consolidated Statements of Profit or Loss and OCI In US$ mn (unless otherwise stated) Jun-22 Dec-21 YTD In US$ mn (unless otherwise stated) Jun-22 Jun-21 YoY Cash and cash equivalents 133 194 -31% Net revenues 723 349 10
Slide 30: Quarterly Progression
Quarterly Progression US$m, unless stated 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 Volumes Overburden Removal 61.2 52.1 65.0 77.0 90.4 94.0 123.5 136.6 (m bcm) Coal (mt) 11.5 11.4 12.7 12.3 13.9 14.9 18.3 22.8 Key Financials Revenue 142 108 160 189 248 314 332 391 EBITDA 49 13 31 42 77 84 70 94 EBITD
Slide 31: Cash Costs
Cash Costs Remarks BUMA’s Cash Cost Ex Fuel (1H 2022) The management team led the business to navigate through the Others prolonged downturn in 2020, focusing on optimizing asset utilization, 10% Rental strategically reducing capex, efficient inventory management and 4% prudently reducing costs Sp
Slide 32: ESG Strategy
ESG Strategy Our Sustainability Framework KEY STRATEGY Operational Excellence Diversification to support Low Carbon Economy Transition Cross cutting ESG factors Safety Optimize Ownership Eco-efficiency Community Climate Optimization on Fostering sense of Providing safe and Strengthen resilience oper
Slide 33: Implementation Plan
Implementation Plan Consolidating Core Business Improvement of Core Business Mine Ownership Focus Area Focus Area Focus Area ▪ Integration and expansion of the Australian ▪ Extension and expansion of current order book ▪ Seeking to expand our core business into mine business ▪ Targeting commodity di
Slide 34: FY2022 Guidance
FY2022 Guidance ▪ Factors underpinning volumes: US$m, unless stated 1H22 FY22E1 – Full year production in ADR Tutupan – Increase from IPR contract expansion Volumes – Additional from consolidating BUMA Australia Overburden Removal (m bcm) 260 480-565 ▪ Capital Expenditure: Coal (mt) 41 74-86 – Carry
Slide 35: Thank You
THANK YOU For more information visit our website deltadunia.com https://www.linkedin.com/company/pt-delta-dunia-makmur-tbk https://www.linkedin.com/company/pt-bukit-makmur-mandiri-utama https://www.linkedin.com/company/buma-australia/
PT Delta Dunia Makmur — H1 2022 Earnings Presentation on 6ix