Pt Bayan Resources Tbk · IDX:BYAN
Pt Bayan Resources Tbk — Q3 2014 Earnings Presentation
18 slides from Pt Bayan Resources Tbk's earnings presentation, 2014
Slide 1: www.bayan.com.sg
ed ed ed. bayar. eons eo |
Slide 2: Executive Summary
Executive Summary Overall financial performance in YTD September 2014 decreased compared to YTD September 2013 YTD Sept YTD Sept (in million USD) 2012 (2) 2013 Var 2013 2014 Revenue (1) 1,422.9 1,147.5 850.0 657.1 -23% Gross Profit (1) 167.5 163.4 105.5 93.7 -11% Gross Profit Margin 12% 14% 12% 14
Slide 3: Executive Summary - continued
Executive Summary - continued 3Q14 Coal Production achieved was 2.3 million MT which was lower than Budgeted as a result of the delay in the Bara Tabang infrastructure which impacted the commencement of coal production from that site 3Q14 SR was 8:1 which was lower than 2Q14 as result of the low
Slide 4: Executive Summary - continued
Executive Summary - continued 3Q14 Cash costs were US$ 63.8/MT which was lower compared to 2Q14, however, it exceeded the Budget principally due to: Higher than Budgeted SR due to delays at Bara Tabang Increase in the weighted average cost per BCM due to contractor claims coupled with a differ
Slide 5: 3Q 2014
3Q 2014 Overburden Removal Coal Production Weighted Average Strip Ratio Average Cash Costs Coal Sales Average Selling Price Committed & Contractual Sales Debt and Cash Position Capex 4 www.bayan.com.sg
Slide 6: Overburden Removal (OB)
Overburden Removal (OB) Overburden Removal (million BCM) 40.6 3Q14 OB was 20.6 million 27 to 29 29.3 BCM which was lower than 2Q14, Budget 3Q14 and 20.6 3Q13 due to further reduction of OB volumes principally at GBP II in the second half of the year as a 3Q13 3Q14B 2Q14 3Q14 result of continued we
Slide 7: Coal Production
Coal Production Coal Production Volume (million MT) 3.8 to 4.1 3.6 3Q14 coal production was 2.3 2.7 million MT which was lower 2.3 than 2Q14, 3Q14B, and 3Q13 primarily due to the drop in production across most sites 3Q14B Coal Production 3Q13 3Q14B 2Q14 3Q14 anticipated an increase in Note : B s
Slide 8: Actual Weighted Average Stripping Ratio (SR)
Actual Weighted Average Stripping Ratio (SR) Weighted Average Strip Ratio 11.2 11.0 3Q14 weighted average 8.8 stripping ratio was 8.8 : 1 6.4 to 7.4 which was lower than 2Q14, and 3Q13 primarily due to the new SR target at GBP II combined with a drop at WBM 3Q13 3Q14B 2Q14 3Q14 BUMA and PTP are
Slide 9: Average Cash Costs
Average Cash Costs Average Cash Costs per MT(*) 3Q14 Average Cash Costs were lower 74.6 than 2Q14 and 3Q13 due to: 64.6 55 to 58 63.8 Lower actual average SR ratio (US$ / MT) Lower royalties caused by the drop in ASP However, 3Q14 Average Cash Costs were higher than Budgeted due to 3Q13 2014
Slide 10: Coal Sales (by volume)
Coal Sales (by volume) Coal Sales Volume (million MT) 4.0 to 4.3 3Q14 coal sales volume was 3.1 3.0 3.0 3.1 million MT which was similar to 2Q14 and 3Q13; however, lower than 3Q14B due to the delayed in commencement of production at Bara Tabang 3Q13 3Q14B 2Q14 3Q14 Note : B stands for Budget Figur
Slide 11: Average Selling Price (ASP)
Average Selling Price (ASP) Average Selling Price (*) 74.5 3Q14 ASP was US$ 67.6 / MT which 66 to 69 69.2 67.6 was lower than 2Q14 and 3Q13 due (US$ / MT) to the drop off in fixed pricing and the continued weakening in spot pricing 3Q14 ASP was within the range of the 2014 Budget 3Q13 2014B 2Q14
Slide 12: Committed and Contracted Sales
Committed and Contracted Sales The Group has 12.1 million MT of 12.1 million MT sales commitments for 2014 25.6% As of 30 September 2014, 9.0 million MT of sales have a fixed price at an average of US$67.73/MT, which have a CV of 5,644 GAR/kcal In Q4 2014, the Group has 0.8 million MT of sales
Slide 13: Net Debt and Cash
Net Debt and Cash 479.7 476.3 487.0 469.4 465.7 469.9 446.4 (in million US$) 243.3 208.4 206.5 212.6 168.0 167.9 151.7 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 Note : Total Net Debt and Cash + Debt Service Reserve Account (DSRA) Net Debt Cash In 2012, the Company refinanced its existing debt with a US$7
Slide 14: Capital Expenditure
Capital Expenditure (in million US$) Total Capital Expenditure YTD: US$ 23.4 m 1Q 2014 : US$ 5.1 m 2Q 2014 : US$ 7.7 m 3Q 2014 : US$ 10.6 m 0.13 0.15 0.07 0.37 0.11 0.43 0.20 0.14 0.63 10.35 Total 3Q14 Capex was US$ 10.4 million of CIP incurred by IP and BR due to the construction of the Tabang/Pa
Slide 15: Appendix
Appendix PT Perkasa Inakakerta PIK PT Teguh Sinarabadi TSA PT Firman Ketaun Perkasa FKP PT Wahana Baratama Mining WBM PT Fajar Sakti Prima FSP PT Bara Tabang BT Tabang PT Brian Anjat Sentosa BAS PT Tanur Jaya TJ PT Silau Kencana SK PT Orkida Makmur OM PT Tiwa Abadi TA PT Sumber Api SA Pakar PT Derma
Slide 16: Appendix
Appendix Kangaroo Resources Limited KRL PT Dermaga Perkasapratama DPP PT Indonesia Pratama IP PT Muji Lines Muji PT Bayan Energy BE PT Metalindo Prosestama MP PT Sumber Aset Utama SAU PT Karsa Optima Jaya KOJ 15 www.bayan.com.sg
Slide 17: Disclaimer
Disclaimer This presentation contains forward-looking statements based on assumptions and forecasts made by PT. Bayan Resources Tbk management. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are base
Slide 18: Thank You
Thank You For more information, please contact : [email protected] 17 www.bayan.com.sg