PT ANTAM (Persero) Tbk · IDX:ANTM
PT ANTAM (Persero) Tbk — PT Aneka Tambang Tbk (Antam) — Investor Presentation (May 2003)
18 slides from PT ANTAM (Persero) Tbk's investor presentation, May 14, 2003
Slide 1: ANTAM: A Solid Bright Future
ANTAM A SOLID BRIGHT FUTURE Analyst Meeting Roundtable Jakarta, May 14th 2003
Slide 2: Overview
Overview BINTAN ISLAND BAUXITE BULI NICKEL GEE NICKEL LOGAM MULIA Jakarta GOLD REFINING GEBE NICKEL GEOLOGICAL UNIT PONGKOR CILACAP POMALAA EXPLORATION GOLD IRON SAND SALES BREAKDOWN - 2002 Nickel Ore 33% ¾ Revenues mostly US Dollars, costs in Rupiah ¾ Diverse commodity base: Nickel Ferronickel cont
Slide 3: Production and Financial Highlights - 1Q03
PRODUCTION AND FINANCIAL HIGHLIGHTS - 1Q03
Slide 4: Volumes are Back on Track
Volumes are Back on Track • Antam expects to produce 10,100 tonnes of contained nickel on ferronickel in 2003, 15% higher than last year’s ferronickel production • Production of ferronickel decreased 17% to 1,800 tonnes on spot lining repairs on FeNi I and lower power load • Production of gold excee
Slide 5: Wider Margins and Good Profitability
Wider Margins and Good Profitability • Revenues: • Increased 17% on higher commodities price, price of ferronickel rose 33% while price for gold increased 22% • Profits: • Net profit increased 50% to Rp 62 billion, net profit margin rose to 16% from 12% in 1Q02 • Operating profit remains healthy wit
Slide 6: Low Debt and Abundant Cash
Low Debt and Abundant Cash • Short term debts decreased 49% to Rp 76 billion on Rp 31 billion debt repayments • Long term debt, net of current maturities, was 58% lower than last year • Total Debt-to-Equity ratio was low at 23% vs. 30% last year • Despite lower cash holdings on stronger Rupiah, Anta
Slide 7: Strong Free Cash Flows
Strong Free Cash Flows • Cash flow from operations increased 491% to Rp 67 billion on 27% higher customer recipts and 76% smaller income tax payment • Capital expenditures amounted to approximately Rp 17 billion, with acquisitions of property, plant and equipment 7
Slide 8: 2003 Outlook
B 2003 OUTLOOK
Slide 9: Antam – Back on Track
Antam – Back on Track • Revenue target of Rp 1,800 billion this year: • Using conservative estimates (Rp 9,000 exchange rate, nickel selling price of USD3.00/lb, gold selling price of USD300/tr.oz) • Gold loan project facility will be fully paid in June 2003, remaining debt is Rp 34 billion to Newcr
Slide 10: Industry Outlook
Industry Outlook Nickel •Supply remains tight, with last year’s supply increased 2.3% vs. increase in demand of 4.7%, making the nickel surplus of 29,000 tons compared to nickel surplus in 2001 of 52,900 tons –source: INSG, February 2003- •Price estimates in 2003: • Brook Hunt: USD3,25 per lbs • Wes
Slide 11: Investments for Future Performance
INVESTMENTS FOR FUTURE PERFORMANCE
Slide 12: Joint Ventures and Strategic Alliances
Joint Ventures and Strategic Alliances Joint Ventures •Nusa Halmahera, Gag and Weda Bay are three projects slated to be given waiver by the government in relations to the protected forest issues •Nusa Halmahera has found promising gold results at Kencana prospect •Galuh Cempaka’s operator, BM Diamon
Slide 13: Human Resources, Information Technology and the Environment
Human Resources, Information Technology and the Environment •To increase productivity, Antam has raised the average training cost per employee, with an increase of 27% over 2001. •Completion of the information management project • Three years of installation and training with total project costs rea
Slide 14: FeNi III Project
B FENI Ill PROJECT
Slide 15: FeNi III, Modified to Lower Costs
FeNi III, Modified to Lower Costs • At the end of March 2003, the Euro/US dollar exchange rate surpassed a level agreed to and prevented financial closure by the end of March 2003 • As a consequence, the previously executed EPC contracts became null and void. • Antam decided to modify its FeNi III p
Slide 16: Thank You
B THANK YOU
Slide 17: Appendix
B APPENDIX
Slide 18: Antam - Production and Sales
Antam - Production and Sales Description Description Unit Unit 1999 1999 2000 2000 2001 2001 2002 2002 1Q02 1Q02 1Q03 1Q03 PRODUCTION PRODUCTION VOLUME VOLUME Ferronickel Ferronickel Ton Ton Ni Ni 9,221 9,221 10,111 10,111 10,302 10,302 8,804 8,804 2,158 2,158 1,800 1,800 Nickel Nickel Ore Ore HG HG
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