PT ABM Investama Tbk · IDX:ABMM
PT ABM Investama Tbk — FY2012 Earnings Presentation
58 slides from PT ABM Investama Tbk's earnings presentation, 2013
Slide 1: FY 2012 Result - Company Presentation
FY 2012 Result - Company Presentation PT. ABM INVESTAMA TBK
Slide 2: ABM Investama A Member of Tiara Marga Trakindo Group
ABM Investama A Member of Tiara Marga Trakindo Group Tiara Marga Trakindo Group Structure Overview of Tiara Marga Trakindo Group — Established in 1970, Trakindo was PT Tiara Marga Trakindo Group (TMT) founded by AHK Hamami — Trakindo became the sole authorized PT Chandra PT ABM Sakti Utama PT Mahada
Slide 3: ABM's Five Strategic Business Units
ABM’s Five Strategic Business Units Contract Power Coal Engineering Integrated Mining Solutions Production Services Logistics Services • Established 1997 • Established 1992 • Established 2010 • Established 1977 • Established 1997 • Fleet of 624 heavy • Approximately 833 • 7,703 hectares • 10 enginee
Slide 4: Comprehensive Footprint and Market Coverage in Indonesia
Comprehensive Footprint and Market Coverage in Indonesia — Able to operate throughout the country; competitive advantage over competitors — Difficult to replicate coverage strength and poses barriers to entry for new entrants BANDA ACEH MEDAN TARAKAN BENGALON MANADO TERNATE BATAM SANGATTA PADANG KUT
Slide 5: Coal Industry View
Coal Industry View • "We believe the demand-supply balance for coal is becoming moderately more favorable across the region," said Standard & Poor's credit analyst Xavier Jean. "China's growing electricity consumption after several months of decline, and higher demand from India and Indonesia should
Slide 6: ABMM Business Update and Overview
ABMM Business Update and Overview • August 29, 2012 Sewatama announced 70% acquisition of independent power plant company PT Energi Alamraya Semesta (EAS). PT Pradipa Aryasatya, a Sewatama subsidiary served as a vehicle for the acquisition worth of US$7 million. • November 22, 2012 – PT Tunas Inti A
Slide 7: ABM's Five SBU
FY 2012 ABM’s Five SBU empoweringenergy © SEWATAMA POWER SOLUTIONS PROVIDER g) reswafa Cipta Kridatama INTEGRATED LOGISTICS SERVICES
Slide 8: Coal Production at TIA, South Kalimantan
Coal Production at TIA, South Kalimantan 8
Slide 9: Barge Conveyer at TIA
Barge Conveyer at TIA 2)
Slide 10: TIA: Coal Production & Sales FY 2012
TIA: Coal Production & Sales FY 2012 : 4.56 mn from 2.1 mn in 2011 TIA FY2012: 4.56 mn 10
Slide 11: TIA Sales Distribution Dominate by China Market in 2012-2013
TIA Sales Distribution Dominate by China Market in 2012-2013 11
Slide 12: TIA: FY 2012 ASP and Avg Cash Cost
TIA : FY 2012 ASP Avg USD 42.3/ton and Avg Cash Cost USD 36.31/ton 12
Slide 13: TIA Avg Stripping Ratio 4.51
TIA Avg Stripping Ratio 4.51 13
Slide 14: Coal Price vs Reswara's ASP
100.00 $ 105.00 $ 120.00 $ 125.00 $ 130.00 $ 135.00 $ 140.00 $ 110.00 $ 115.00 $ 20.00 $ 25.00 $ 30.00 $ 35.00 $ 40.00 $ 45.00 $ 60.00 $ 65.00 $ 70.00 $ 75.00 $ 80.00 $ 85.00 $ 90.00 $ 95.00 $ 50.00 $ 55.00 $ 12-2009 01-2010 02-2010 03-2010 04-2010 05-2010 06-2010 07-2010 08-2010 09-2010 10-2010 11-
Slide 15: Reswara Sales and Production FY 2012
Reswara Sales and Production FY 2012 15
Slide 16: TIA: ASP, Cash Cost and Stripping Ratio
TIA :ASP, Cash Cost and Stripping Ratio 13% 8% 42% 16
Slide 17: Coal Resources, Reserves and Concession
Coal Resources, Reserves and Concession TIA MDB Total Total Resources: 561 Million Tons Coal Reserves (MT) Proved Reserves 13 7 20 Probable 39 162 201 Reserves Total Reserves 52 169 221 Total Reserves: 221 Million Tons Coal Resources Measured 32 18 50 Indicated 39 289 328 Inferred 35 148 183 Total 1
Slide 18: TIA Site Layout – Concession Area
TIA Site Layout – Concession Area PT Tunas Inti Abadi TIA Site (South Kalimantan Province ) • TIA was acquired in Dec 2007, Central Kalimantan Balikpapan commenced commercial production in Aug 2009 and coal sales in Oct 2009 • Coal mining is contracted to ABM Palangkaraya subsidiary, CK • 25 km from
Slide 19: MDB Site Layout – Concession Area
MDB Site Layout – Concession Area MDB Site (Aceh Province) PT Media Djaya Bersama • 70% ownership in MDB • To begin coal production in 2012 by using existing infrastructure and begin construction of own infrastructure in 2012 • Intends to sell coal to Indian power plants for blending • Logistic adva
Slide 20: MDB Project by Dec 2012
MBD Project, Capex USD 125 mn. Capacity of 15 mn ton annually in 2016 Completion MDB Project by Dec 2012: Target Oct 2013 1. Land Acquisition 62% 2. Port Construction 35% 3. Mining site 46% 20
Slide 21: MIFA location at MDB area in Aceh
MIFA location at MDB area in Aceh 21
Slide 22: Concession Breakdown and Coal Characteristic
Concession Breakdown and Coal Characteristic Coal Characteristics TIA MDB Calorific Value (Adb) 55-53k kcal/kg 53-51k kcal/kg Caloric Value (GAR) 3,960 kcal/kg 3,440 kcal/kg Total Moisture (AR) 37.4% 43.8% Ash Content (Adb) 5.7% 4.6% Sulfur (Adb) 0.15% 0.16% Concession Breakdown Current Expiry Date
Slide 23: CK, Our Contract Mining
Cipta Kridatama ‘On = S = ~~ oO © r=] c ° (S) > (eo) < (S)
Slide 24: Removing Top Soil
Removing Top Soil iw Cipta Kridatama
Slide 25: CK: Overburden Increase 10% from 118mn bcm to 130mn bcm
CK: Overburden Increase 10% from 118mn bcm to 130 mn bcm 2012 Total Overburden FY 2012 : 130 mn bcm 25
Slide 26: CK: OB Removal Breakdown based on Client
CK: OB Removal Breakdown based on Client Client FY 2012 FY 2011 ∆ Old Client A 29.7 25.5 B 1.6 13.6 C 7.3 14.8 D 10.6 23.66 E 27.3 25.3 F 17.3 14.2 G 11.4 1 105.2 118.06 -12.86 New Client H 16.8 0 I 7.7 0 J 1.3 0 25.8 0 Total (mn bcm) 131 118.06 25.8 26
Slide 27: CK: Rental Service increased 12.2%
CK: Rental Service increased 12.2% from 10.6 mn to 11.9 mn Total Rental services FY 2012 11.9 mn tons coal 27
Slide 28: Overburden and Rental Services FY 2012
Overburden and Rental Services FY 2012 10% Rental Service in Mn Tons 11.9 12% 10.6 FY 2011 FY 2012 28
Slide 29: CK Overburden 2008-2011
CK Overburden 2008-2011 K CK Historical’s Overburden Removal in mn tons 130 118 104.2 100 FY 2008 FY2009 FY 2010 FY 2011 FY 2012 29
Slide 30: CK Rental Services' Historical 2008-2011
CK Rental Services’ Historical 2008-2011 30
Slide 31: Current Customers & Backlog
Current Customers & Backlog Operating Agreements as of Dec 31, 2012 Client Mining Project Sites Expected Backlog Kalimantan Contract Duration (bcm/ton) Jun 2004 – Sep 1 Separi, East Kalimantan 80 / 8 2015 2 Sanga-sanga East Mar 2005 – Project 2 1 -/- Kalimantan Completed 9 3 3 Nov, 2007 – Oct 8 Jong
Slide 32: CK's Type of Heavy Equipment & Average Age
CK’s Type of Heavy Equipment & Average Age Type of equipment Capacity Number of units Average age (in years) Dec 31, 2012 Excavator 250 - 350 tons 16 6 20 - 100 tons 109 1.9 Truck 30 - 100 tons 339 3.7 Dozer 90 2.2 Grader 14 - 16 feet 48 2.5 Wheel loader 8 2.6 Compactor 13 6.5 Drill machine 1 7 Tota
Slide 33: PT Sumber Daya Sewatama (SS) – Power Solutions
PT Sumber Daya Sewatama (SS) – Power Solutions 33
Slide 34: Containerized Gen-set of Sewatama
Containerized Gen-set of Sewatama 34
Slide 35: SS: Capacity increased 7% to 1,010 MW
SS: Capacity increased 7% from 945 MW in 2011 to 1,010 MW in 2012 Total SS Power Capacity FY 2012 : 1,010 MW 35
Slide 36: Revenue By Division and Key Customers
Revenue By Division and Key Customers Average Lease Rate per kWh (IDR/kWh) 36
Slide 37: Diesel Genset is the majority of Generators
Diesel Genset is the majority of Generators Number of Units Average Average Age as of as of Dec 31, Capacity Useful Life Dec 31, 2012 Model 2012 (kW) (Yrs) (2) (Yrs) Diesel 828 1,001,054 10 6 Generator Sets Gas Generator 5 9,000 15 2 Sets Total 833 1,010,054 37
Slide 38: Electricity Generations Capacity & Lease Rate
Electricity Generations Capacity & Lease Rate Electricity Generator Capacity and Average – Utilization Rate in MW 38
Slide 39: PT. Sanggar Sarana Baja (SSB) – Engineering Services
PT. Sanggar Sarana Baja (SSB) – Engineering Services Business Overview Transport Designing, manufacturing and distributing products for Equipment transportation and material handling business Division Site Services On-site repair, process plant maintenance and construction Division services Fabricat
Slide 40: Fabrication Division
\E il] SANGGAR SARANA BAJA Fabrication Division i 40
Slide 41: Site Service work at SSB Client
Site Service work at SSB Client 41
Slide 42: PT. Cipta Krida Bahari (CKB) – Integrated Logistic
PT. Cipta Krida Bahari (CKB) – Integrated Logistic Business Overview • Integrated logistics provider offering freight forwarding, project logistics, industrial / offshore and coal logistics shipping, warehouse and shorebase management services • Freight forwarding services: Integrated logistics serv
Slide 43: Project Logistic of Overweight and over Size Cargo
Project Logistic of Overweight and over Size Cargo 43
Slide 44: Logistic Shipping and Warehouse
Logistic Shipping and Warehouse 44
Slide 45: ABMM 2013 Strategy & Mitigation
ABMM 2013 Strategy & Mitigation To anticipate the uncertainty Energy and Coal industry, our strategy is to maintain our growth and profitability, at the same time be cautious. We will focus on improving efficiency to reduce costs to keep its balance sheet healthy. Capex plan is mainly to complete MD
Slide 46: Financial Highlights and Review
FY 2012 Financial Highlights and Review 46
Slide 47: 2012 Revenue Increased 17.7% YoY
2012 Revenue Increased 17.7% YoY ABM Console ( in thousand) FY 2012 FY 2011 ∆ Sales 886,971 753,834 17.7% COGS (714,703) (594,994) 20.1% Gross Profit 172,268 158,840 8.5% Gross Profit Margin 19.4% 21.1% Operating Expenses (113,909) (81,901) 39.1% Other operating (2,399) 5,802 -141.4% Income from Ope
Slide 48: ABM Total Assets Increased 13.7%
ABM Total Assets Increased 13.7% ABM Console (in thousand) 31 Dec 2012 31 Dec 2011 ∆ Current Asset 461,743 470,784 -1.9% Non Current Assets 801,653 640,144 25.2% Total Assets 1,263,397 1,110,929 13.7% Current Liabilities 376,625 345,701 8.9% Non Current Liabilities 540,712 428,119 26.3% Equity 346,0
Slide 49: ABM Operational Result and FY 2013 Guideline
ABM Operational Result and FY 2013 Guideline Subsidiaries FY 2011 FY 2012 Growth Budget F Growth Operation ’s Indicator YoY 2013 YoY CK Overburden 118 130 10.1% 140 7.7 % Removal (mn bcm) CK Rental Business 10.6 11.9 12.3% 16 34% Services (mn ton coal) Reswara – Coal sales 2.1 4.6 119% 6 30% & Produ
Slide 50: Historical ABM Revenue
Historical ABM Revenue Revenue (in million USD) 1000 887 900 800 754 700 600 520 500 400 300 200 100 0 FY 2010 FY 2011 FY 2012 50
Slide 51: Net Income decreased to 1.6% in FY 2012
Net Income decreased to 1.6% in FY 2012 60 8% 7.4% 7% 50 6% 40 5% 4.4% 30 4% 56 3% 20 2% 10 23 1.6% 14 1% 0 0% FY 2010 FY 2011 FY 2012 Net Income Margin 51
Slide 52: Gross Profit decreased to 19%
Gross Profit decreased to 19% 200 25% 21% 19% 180 160 20% 140 15% 120 15% 100 80 172 10% 159 60 40 79 5% 20 0 0% FY 2010 FY 2011 FY 2011 52
Slide 53: Capex FY 2012
Capex FY 2012 Capex USD Allocation in % SSB 8,793 3.1% SS 80,381 28.5% CK 112,575 39.9% CKB 47,515 16.9% Reswara 32,026 11.4% Total 281,902 100.0% 53
Slide 54: Contribution from Subsidiaries: Revenue
Contribution from Subsidiaries Revenue 2012 2011 Reswara Reswara 19% 13% CKB CK 12% CK 42% 47% CKB 13% SSB 14% SSB 12% SS SS 14% 14% 54
Slide 55: Contribution from Subsidiaries: Gross Profit
Contribution from Subsidiaries Gross Profit 2011 2012 Reswara CK 15% Reswara 20% CK 24% 30% CKB 14% CKB 15% SS SSB 29% SS 14% 27% SSB 12% 55
Slide 56: Contribution from Subsidiaries: Income From Operations
Contribution from Subsidiaries Income From Operations 2012 2011 Reswara 5% Reswara 9% SSB CKB CK 5% 11% CKB 30% 16% CK 46% SSB -1% SS 33% SS 44% 56
Slide 57: Contribution from Subsidiaries: Net Income
Contribution from Subsidiaries Net Income 2012 2011 Reswara Reswara -3% 2% CK 11% SSB CKB 3% 11% CKB 21% CK SS 57% SSB 27% -16% SS 49% 57
Slide 58: Contact Investor Relations
Contact Investor Relations Errinto Pardede Tel:6221-2997-6767 Ext.1874 Fax : 6221-2997-6768 Email : [email protected] Email : [email protected] Website : www.abm-investama.com A member of Tiara Marga Trakindo Group Gedung TMT 1, 18th Fl, Suite 1802 Jl Cilandak KKO No.1 Jakarta