PT Steel Pipe Industry of Indonesia Tbk · IDX:ISSP
PT Steel Pipe Industry of Indonesia Tbk — 9M 2025 Earnings Presentation
40 slides from PT Steel Pipe Industry of Indonesia Tbk's earnings presentation, Dec 2, 2025
Slide 1: PT Steel Pipe Industry of Indonesia Tbk Company Presentation for 9M2025 Results
PT Steel Pipe Industry of Indonesia Tbk Company Presentation for 9M2025 Results
Slide 2: Disclaimer
Materi dalam presentasi ini telah disiapkan oleh PT Steel Pipe Industry Indonesia Tbk (“Spindo”) dan merupakan informasi bersifat umum tentang kinerja bisnis Spindo terkini pada tanggal presentasi dan dapat berubah tanpa pemberitahuan sebelumnya. Informasi ini diberikan dalam bentuk ringkasan dan ti
Slide 3: 9-Month Highlight
SPINDO | 9-Month Highlight
Slide 4: Resilient Performance, Strengthened Liquidity, and Profitability Momentum
Resilient Performance, Strengthened Liquidity, and Profitability Momentum ISSP delivered resilient performance in Q3 2025 amid global steel market volatility, recording revenue of Rp1.55 trillion and total nine-month revenue of Rp4.13 trillion, down 3.5% YoY due to Hot-Rolled Coil (HRC) price fluctu
Slide 5: Improved Profitability Through Cost Discipline and Product Optimization
Improved Profitability Through Cost Discipline and Product Optimization SPINDO recorded revenue of Rp4.13 trillion in the first nine months of 2025, down 3.5% due to Hot Rolled Coil (HRC) price volatility. Nevertheless, gross profit increased by 5.7% year-on-year to Rp820 billion, with gross margin
Slide 6: Balanced Funding Structure and Strong Liquidity to Drive Expansion
Liquidity & Leverage Ratios Balanced Funding Structure and Strong Liquidity to Drive Expansion 326% 303% SPINDO maintained a solid liquidity position with a current ratio of 303% and a quick ratio of 94%, supported by higher current assets and a strong cash balance of Rp737 203% billion. Inventory r
Slide 7: Strong Cash Position Ensures Investment Readiness
Strong Cash Position Ensures Investment Readiness . SPINDO demonstrated disciplined cash management throughout 9M2025, generating Rp970 billion in net operating cash flow—driven primarily by Rp4.45 trillion in customer receipts. Outflows related to vendor payments, financial charges, and taxes remai
Slide 8: Consistent Profitability and Growing Shareholder Value
Consistent Profitability and Growing Shareholder Value SPINDO continues to deliver stable profitability, reflected in a solid ROE of 9% and ROA of 5.9%. These healthy ratios demonstrate the company’s resilience amid fluctuating HRC prices and its ability to maintain efficient operations. Earnings pe
Slide 9: Stronger Product Mix for Higher Profitability
Stronger Product Mix for Higher Profitability Highly Diversified Product Mix (9M2024 vs 9M2025) SPINDO maintained a steady sales volume of 253 thousand tons in 9M2025, supported by a stronger shift toward high-margin products. Spiral API pipe sales Black Pipes (non API) 18.21% surged 791%, driving O
Slide 10: Supplier Diversification and Expanding Local Steel Supply Base
Top Suppliers Supplier Diversification and Expanding Local Steel Supply Base FY2024 (inside) and 9M2025 (outside) SPINDO increased its local raw material sourcing to 42% in 2025 from 28% in 9M2024, reducing dependence on overseas suppliers and improving logistics efficiency. New domestic partners—La
Slide 11: Local & Import HRC Price vs our Black Pipe ASP
Local & Import HRC Price VS our Black Pipe ASP 20,000 18,000 16,000 15569 14,000 12,000 10,000 9100 8,000 8828 6,000 Jan Jan Aug Aug Aug Feb Jan Feb Aug Mar Apr May Sep Feb Sep Jan Feb Nov Mar Apr May Nov Mar Apr May Sep Apr Sep Nov Mar May Jul Jul Jun Dec Jul Oct Jun Dec Oct Jun Dec Jul Oct Jun 202
Slide 12: Going Forward
SPINDO ? Going Forward
Slide 13: Spindo is targeting to reach 500,000 Ton sales by 2025
Spindo is targeting to reach 500,000 Ton sales by 2025 2022 2023 2024 2025 8” Stainless Steel Pipe NEW MAJOR PRODUCT LINE Up to 2.5 inch API Pipe Big Diameter Carbon Steel Pipe New Export Opportunity, SALES & Depo +2 further increase to Oil and MARKETING Gas Sector Establish Rep Office in Ind. Major
Slide 14: Production units, warehouses and offices map
Pekanbaru Representative Samarinda Makassar Office Warehouse Warehouse Spindo Karawang Production Unit 5 Bandung/ West Jakarta Spindo Surabaya Warehouse Production Unit 1, 2, 3 Spindo Sidoarjo Production Unit 6 Jakarta Spindo Pasuruan Representative Office Production Unit 4 Semarang Surabaya Represe
Slide 15: New ERW machines expansion
Unit 7 is expanding with two brand-new, high-tech ERW machines: 1. Small-diameter machine for for pipes up to 8 inches 2. Large-diameter machine up to 24 inches Both machines feature advanced robotic technology. The large-diameter ERW machine boasts a monthly capacity of up to 50,000 tons, while the
Slide 16: Construction progress of new facility
e@ T THE “FD Phase 3A P P| FUTURE 100,000% 60,000% 20,000% » Rencana Komulatif : 94,06% » Note : Progress plus 0.15% - progress volume lantai sudah dikurangi sebesar 9.25% untuk lantai mesin » Realisasi Komulatif : 94.22% D Gg
Slide 17: New products coming full effect in 2026 and 2027
Now Product coming full effect in 2026 and 2027 • Our new 8 inch pipe is expected to be starting production in early 2026 and the new big diameter machine will commence in early 2027. This new addition to production capacity, production, and eventually sales will further improve our margin expansion
Slide 18: Market Outlook
SPINDO 3 Market Outlook
Slide 19: Global PMI eased to ~49.8 in Sep 2025
• Global PMI eased to ~49.8 in Sep 2025 → manufacturing stagnation. • US resilience contrasts with Europe’s flat growth; China stabilizing via infrastructure stimulus. • Oil around USD 85–90/bbl; geopolitical tensions (Middle East, Ukraine) keep volatility alive. • Global trade volumes modest (+1.5
Slide 20: Lower YoY Steel Price
SS ACCE THE FUTUR: 2B Lower YoY Steel Price (oa) SPINDO LME Steel HRC FOB China (Argus) Closing prices graph ®@ Price 600 fay 8 6 BER 8 8 8 8 auc sad §571
Slide 21: Raw-material cost floor for Chinese HRC
At current inputs (iron ore USD 105/t, coking coal USD 200/t), raw-material cost per ton of BF-BOF steel is about USD 300, with ~USD 115/t attributable to energy. This places the cost floor for Chinese HRC around USD 460–470/t. With weak demand, steel prices in 4Q25 are expected to remain sideways,
Slide 22: Domestic Support
or) Domestic Support Manufacturing PMI BB sindonews Daerah 55 aA Gelar Unjuk Rasa, SSC Desak Menkeu Purbaya Setop Impor 50 7 Baja dari Vietnam dan China Indonesian Society of Steel Construction (ISSC) meminta Menteri Keuangan (Menkeu) Purbaya Yudhi Sadewa menghentikan impor baja dari Vietnam. Me CNB
Slide 23: Spindo ESG
SPINDO > A Spindo ESG ra x -
Slide 24: Solar Panel Installation in Plant IV & VI
Solar Panel Installation in Plant IV & VI Accumulated Cost Saving for 25 Years PLN Tariff Discount for 25 Years* IDR 8-25 Billion 12-18% Accumulated CO2 Reduction in 25 Years *PLN Tariff assumption 6% CAGR growth 7,536-16,658 tons Immediate Solar Panel Installation in Plant I, III & V Implementation
Slide 25: Solar PV installation at Plants 1, 2 and 3
The installation of Solar PV panels at Plants 1, 2, and 3 was successfully completed in February 2025. The total installed capacities are 651.75 kWp for Plant 1, 759 kWp for Plant 2, and 715 kWp for Plant 3. As of September 2025, there is an additional operation for solar panel in Plant 3. The syste
Slide 26: Supporting SDG
Supporting SDG 6 Wilayah Pacitan, khususnya Dusun Ketro, Desa Petungsinarang terkenal sulit mendapatkan air bersih. Faktor penyebab kekurangan air bersih: curah hujan yang rendah, topografi pegunungan kapur yang kurang mampu menyimpan air, kerusakan hutan dan deforestasi, serta sumber air yang terba
Slide 27: Guidance & Outlook
SPINDO 5 Guidance & Outlook
Slide 28: Growth forecast through 2029
SPINDO’s 1H2025 net sales of Rp 2.61 trillion and net profit of Rp 213.3 billion reflect a solid first half, despite headwinds from lower HRC prices and softening demand. The quarter’s gross margin improvement to 19.9%, along with stable cost discipline, supports the trajectory shown in the growth f
Slide 29: Selected Projects
6 Selected Projects
Slide 30: Selected projects by sector
Logistik Infrastructure Oil and Gas Machinery • Proyek Pembangunan Dermaga A • Proyek Pembangunan Palaran • Proyek Coal Crushing System dan Petrokimia Gresik Samarinda, Kaltim Loading Terminal Kapasitas 36 Juta Ton • Proyek Pekerjaan Bracing Jetty Wanam • Proyek Rekonstruksi Jembatan Palu 4 Per Tahu
Slide 31: SPINDO's strategic roadmap
“SPINDO’s strategic roadmap focuses on sustainable growth by balancing sector diversification, operational excellence, and strategic partnerships, ensuring resilience and profitability in Indonesia’s evolving steel market landscape.”
Slide 32: For more information please contact
facebook.com/spindosteelpipe youtube.com/c/spindosteelpipe @spindosteelpipe linkedin.com/company/spindo For more information please contact: PT Steel Pipe Industry of Indonesia Tbk. Gd. Baja Lantai 7B Jl. Pangeran Jayakarta no 55 Jakarta Indonesia Up: Johanes W Edward Corporate Secretary & Investor
Slide 33: Appendices
SPINDO / Appendices
Slide 34: Financial Report September 2025
Financial Report 30 September 2025 PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN PI STEEL PIPE INDUSTRY OF INDONESIA Tok AND ENTITAS ANAKNYA ITS SUBSIDIARY LAPORAN POSISI KEUANGAN CONSOLIDATED STATEMENT OF FINANCIAL KONSOLIDASIAN ‘POSITION 30 SEPTEMBER 2025 DAN 31 DESEMBER 2024 SEPTEMBER 30, 2025 AND
Slide 35: Financial Report September 2025 - Liabilities and Equity
FO SPINDO Financial Report 30 September 2025 Catatan | 30 September 2025 31 Desemtber 2024 Notes September 30,2025 December 31 2024 LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY ‘UABILITAS LIABILITIES LIABILITAS JANGKA PENDEK (CURRENT LIABILITIES ‘Utang bank: jangka pendek 3215343738 582.787 918.657
Slide 36: Financial Report September 2025 - Equity
FO Financial Report 30 September 2025 SPINDO PI STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN ENTITAS ANAKNYA LAPORAN POSISI KEUANGAN KONSOLIDASIAN - Lanjutan 30 SEPTEMBER 2025 DAN 31 DESEMBER 2024 (Disajikan dalam Jutaan Rupiah, kecuali dinyatekan lain) PI STEEL PIPE INDUSTRY OF INDONESL4 Tbk AND ITS SU
Slide 37: Consolidated Statement of Profit or Loss
PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN ENTITAS ANAKNYA LAPORAN LABA RUGI DAN PENGHASILAN: KOMPREHENSIF LAIN KONSOLIDASIAN ‘Untuk Periode Sembilan Bulan Yang Berakhir Tanggal 30 SEPTEMBER 2025 DAN 2024 (Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain) Financial Report 30 September 2025 PT
Slide 38: SPINDO's Unique Capabilities
SPINDO's Unique Capabilities • Certified Export for US and Canada Fire Sprinkler Systems • Spiral Welded Pipe Manufacturing: Large Diameter and Thickness • High-Quality Thick Wall Stainless Steel Unthreaded Pipes • 'Blow Galvanize' Technology for Uniform Coating and Superior Quality • Galvanized Pip
Slide 39: Acceleration on ESG Initiatives
Acceleration on ESG Initiatives In 2024, Spindo accelerate its action towards ESG initiatives. Such acceleration implemented in the Operation Team KPI, where all departments have target to reduce 10% carbon footprint of Scope 1 and 2. Spindo also initiate additional CSR activity to support Global Su
Slide 40: ESG related Projects supplied with our products
ESG related Projects supplied with our products Potable Water distribution, Fiber optic poles, Data centre construction, Hydropower, Waste Treatments, Geothermal Projects, Bridges & Ports in remote areas Estimated Sales Value Annually : Approx. >IDR 2,5 Trillion EV (Electric Cars & Motorcycles) Esti
PT Steel Pipe Industry of Indonesia — 9M 2025 Earnings Presentation on 6ix