Pt Elnusa Tbk · IDX:ELSA
Pt Elnusa Tbk — Investor Presentation (June 2015)
25 slides from Pt Elnusa Tbk's investor presentation, June 2015
Slide 1: PT Elnusa Tbk Investor Update
PT Elnusa Tbk Investor Update June 2015 www.elnusa.co.id
Slide 2: Vision & Mission
Vision & Mission Vision Trusted Energy Services Company Mission • Business expansion from integrated upstream oil & gas services to energy services • Create a stable business growth that fulfills the shareholders expectations, followed by human resources competence development and the mastering of e
Slide 3: Elnusa at a Glance
Elnusa at a Glance Fundamental Strengths 1 2 3 Significant Track Record in Experienced & Qualified Proudly HSE Achievement & Upstream Oil & Gas Services Personnel : along with reliable Reputation : Elnusa quality of Industry : Has been 45 years equipment, experienced & performance always meets the p
Slide 4: Milestones
Milestones Establishment Entered Data Management, Establishment of Initial Public Offering Seismic Oilfield Services, Drilling Services, 7.298.500.000 Shares Business Fuel Trading & Fabrication Distribution 2013 2014 Strengthening operational level, organization and Non Core Turnaround Year of Human
Slide 5: Operational Area
Operational Area Besides Indonesia, Elnusa also experienced in several regional countries : Brunei, Vietnam, Myanmar & India. 5
Slide 6: Company Structure
Company Structure Dana Pensiun PT Pertamina (Persero) Publik Pertamina 41.10% 19.30% 39.60% Intergrated Upstream Upstream Support Downstream Services Services Services PT Elnusa Oilfield Services PT Elnusa Fabrikasi Konstruksi PT Elnusa Petrofin (99,99%) (97,35%) (99,93%) PT Elnusa Geosains Indonesi
Slide 7: Integrated Upstream Services
Integrated Upstream Services Oilfield Maintenance Services Drilling Services Hydraulic Workover & Drilling Rig Snubbing Services 11 Units HWU Snubbing with 1 Unit Rig of 1600 HP, 3 Units of Rig Up 150K, 225K & 340K type 550 HP, 1 Unit of 900 HP Coiled Tubing, Well Drilling Support Stimulation &
Slide 8: Integrated Upstream Services
Integrated Upstream Services Seismic Data Acquisition Seismic Data Processing Non Seismic Surveys Gravity Survey Magnetotelluric & Time Domain Electromagnetic Magnetic Survey 8
Slide 9: Downstream Services
Downstream Services PT Elnusa Petrofin Type of Work Capacity Fuel Transportation Fuel transport management with All In scheme 1.120 Unit Annual average volume Fuel transport management with tariff scheme 8 Unit 11.877.240 KL Tank car rental to Pertamina Fuel tank cars 46 Unit LPG tank cars 10 Unit S
Slide 10: Upstream Support Services
Upstream Support Services Elnusa Fabrikasi Sigma Cipta Konstruksi Utama Fabrication services (pumping unit for Information system and electronic data CTU, HWU), threading & trading of Pipa physical storage, management services, Oil Country Turbular Goods (OCTG) and oil & gas geological materials
Slide 11: Awards & Achievements
Awards & Achievements The Mahakam Award 2014 dari Total 6 Years Without DAFW 2014 from EP Indonesia, for High Risk Contractor Chevron Operations. category. Best of the Best 50 Companies from Forbes Indonesia 2 Golds & 4 Silvers at Annual Pertamina Quality Award From Pertamina (Persero) Best RIG HSE
Slide 12: ELSA Stock Performance
ELSA Stock Performance ELSA Shares Performance 2014‐2015 2014 ELSA Non Controlling Ownership 24% Harga Volum 800 700 600 500 19% 400 300 35% 200 100 19% 0 3% J F M A M J J A S O N D J F M A ELSA shares has been apreciated 104% in 2014 from Rp 335 to ELSA non controlling ownership in 2014 was dominat
Slide 13: Market Share
Market Share Upstream Spending Eksplorasi Development Production Administration Refer to Elnusa revenue of 20.384 19.375 16.106 17.873 Rp 4.2T hence Elnusa’s market share to country’s upstream investment is only around 2% 2011 2012 2013 2014 Oilfield Service Market Share ELSA Competitor 2.396 2.528
Slide 14: Financial Highlights
Financial Highlights 2013 2014 YoY 1Q14 1Q15 YoY Rp (bn) % Rp (bn) % Rp (bn) % Rp (bn) % Revenue 4.112 100% 4.221 100% 2,7% 918 100% 925 100% 0,8% Cost of Revenue 3.465 84% 3.461 82% ‐0,1% 771 84% 767 83% ‐0,5% Gross Profit 647 16% 760 18% 17,5% 148 16% 158 17% 6,8% Operating Profit 293 7% 425 10% 4
Slide 15: Yearly Performance YTD
Yearly Performance YTD 1.200 25% 600 30% Consolidated Oilfield & Drilling Sevices 1.000 500 25% 20% 17% 23% 16% 800 400 20% 15% 20% 600 300 15% 10% 918 925 421 400 200 410 10% 5% 200 100 5% 148 158 83 95 ‐ 0% ‐ 0% 1Q14 1Q15 1Q14 1Q15 Uneliminated 250 40% 500 30% Seismic Services Subsidiaries 35% 25%
Slide 16: Quarterly Performance
Quarterly Performance 25% 700 40% 1400 Consolidated Oilfield & Drilling Services 600 35% 1200 20% 30% 17% 500 1000 23% 925 25% 15% 400 421 800 20% 300 600 10% 15% 400 200 10% 5% 95 200 158 100 5% 0 0% 0 0% Dec 13 Mar 14 Jun 14 Sep 14 Dec 14 Mar 15 Dec 13 Mar 14 Jun 14 Sep 14 Dec 14 Mar 15 400 700 25
Slide 17: Oilfield & Drilling by Services
Oilfield & Drilling by Services Revenue & Gross Margin Electric Wireline Logging Drilling Hydraulic Workover 148 99 64 116 ‐38% 61 38 68% 28% 1Q14 1Q15 1Q14 1Q15 1Q14 1Q15 Coiled Tubing Unit Drilling Fluid Snubbing 42 34 32% 31 17 17 ‐4% 25 34% 1Q14 1Q15 1Q14 1Q15 1Q14 1Q15 IDR bn 17
Slide 18: Oilfield & Drilling by Services
Oilfield & Drilling by Services Revenue Well Testing Operation Maintenance Slickline ‐95% 29 28% 36 23 11 2% 11 2 1Q14 1Q15 1Q14 1Q15 1Q14 1Q15 Cementing & Pumping Drilling Evaluation ‐12% 8 7 23% 6 5 1Q14 1Q15 1Q14 1Q15 IDR bn 18
Slide 19: Seismic Land & Acquisition
Seismic Land & Acquisition Revenue Seismic Land & Processing ‐4% 158 151 1Q14 1Q15 IDR bn 19
Slide 20: Subsidiaries Performance
Subsidiaries Performance Elnusa Petrofin 336 341 2% 1Q14 1Q15 Sigma Cipta Utama Patra Nusa Data Elnusa Fabrikasi Konstruksi 17 77% 26 16 ‐12% ‐59% 14 7 15 1Q14 1Q15 1Q14 1Q15 1Q14 1Q15 IDR bn Revenue Revenue Growth 20
Slide 21: Contract Replacement Profile
Contract Replacement Profile Contract per 1Q15 and Forward USD jt CARRIED OVER NEW CONTRACT TOTAL CONTRACT VALUE 2015 (Exp) VALUE ONWARD SEGMENT A B A+B C A+B‐C Oilfield & Drilling 230 26 256 118 138 Seismic 28 60 88 40 48 TOTAL 258 86 344 158 186 21
Slide 22: Capex
Capex 750 A = New Investments B = Replacements A = 227 B = 262 500 A = 337 B = 30 250 489 A = 123 A = 26 A = 51 366 B = 38 B = 104 B = 59 130 160 110 0 IDR bn 2011 2012 2013 2014 1Q15 Area of Investment (Oilfield & Drilling Services & Seismic) : Electric Wireline Unit Portable Slickline Unit Geophon
Slide 23: Business Challenges in 2015
Business Challenges in 2015 Oil Price Technology Elnusa Challenges In 2015 People Competition 23
Slide 24: Business Challenges in 2015
Business Challenges in 2015 Oil price is predicted to be remain at $50 ‐ $60 /bbl in 2015, hence: Oil Price • Less spending on exploration (seismic & exploration well), but not on reprocessing data. • More focus on maintenance (good for oilfield services). • More to lateral/horizontal drilling, impa
Slide 25: Thank You
Thank You DISCLAIMER : The information in this document has not been independently verified. No representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. No