Pt Indo Tambangraya Megah Tbk · IDX:ITMG
Pt Indo Tambangraya Megah Tbk — Q3 2024 Earnings Presentation
26 slides from Pt Indo Tambangraya Megah Tbk's earnings presentation, Nov 15, 2024
Slide 1: Analysts Meeting 3Q24 Performance Result
Analysts Meeting 3Q24 Performance Result 15 November 2024
Slide 2: Disclaimer
Disclaimer The information contained in this presentation is intended solely for your reference. This presentation contains “forward-looking” statements that relate to future events, which are, by their nature, subject to significant risks and uncertainties. All statements, other than statements of
Slide 3: Agenda
ANALYST MEETING AGENDA 01 Highlights 02 Coal market trends 03 Operational updates 04 Financial updates 05 Q&A session
Slide 4: Highlights
Nim Highlights
Slide 5: 3Q24 highlights – Upbeat production, strong results
3Q24 highlights – Upbeat production, strong results BUSINESS PERFORMANCE Production Sales ASP 5.8 Mt 6.3 Mt $97/ton 33% QoQ / 9% YoY 8% QoQ / 18% YoY 3% QoQ / -2% YoY Revenue EBITDA Net Profit $608 Mn $161 Mn $144 Mn 8% QoQ / 15% YoY 42% QoQ / 22% YoY 114% QoQ / 46% YoY GOOD AND RESPONSIBLE GREENER,
Slide 6: Three new mines to strengthen our core business
Three new mines to strengthen our core business NORTH KALIMANTAN EAST KALIMANTAN GPK NPR* OPERATING NEW MINES 4-5Mt 5-6Mt 5500 kcal/kg 2-3Mt 3900 kcal/kg Ramping up annual production 0.5-1Mt • Based on the life of mine plan, GPK and NPR could contribute up to 5 and 6 Mt production volume respectivel
Slide 7: Reinforcing resilience to withstand the challenges
Reinforcing resilience to withstand the challenges POLITICAL AND ENERGY REGULATION TRANSITION UNCERTAINTY Revenue optimization and cost management COMMODITY Sustainability and MACROECONOMIC, PRICE decarbonization TRADE, AND VOLATILITY GEOPOLITICAL CONCERN Coal mining Strategic Contractor minerals So
Slide 8: Coal Market Trends
Nim Coal Market a Trends Ril a
Slide 9: Global thermal coal market
Global thermal coal market COAL DEMAND AND SUPPLY CHANGE – 2024e VS 2023 TRENDS Unit: Mt SUPPLY DEMAND DEMAND HCV thermal coal prices are expected to remain high through the end of the year, supported by geopolitical and seasonal weather risks. The lower-CV market will be boosted by strong China dem
Slide 10: ITM ASP vs thermal coal benchmark prices
ITM ASP vs thermal coal benchmark prices ITM ASP VS BENCHMARK PRICES COMMENTS Unit: $/t ▪ The seaborne premium thermal coal market remained stable in 3Q24, with GCNewc prices fluctuating between $132-150 per ton. Meanwhile, the market for lower-quality thermal coal showed 460 slight weakening from t
Slide 11: ITM coal sales
ITM coal sales 3Q24 COAL SALES VOLUME BASED ON SALES DESTINATION 9M24 COAL % SALES VOLUME Taiwan Total 3Q24 sales Hong Kong 2% 1% 6.3 Mt Thailand 5% Others 3% India 5% Philippines 6% China 9M24 Sales 40% Japan 17.1 Mt 2.5 Mt 1.2 Mt 17% CHINA Indonesia JAPAN 21% 0.3 Mt 0.2 Mt 0.2 Mt INDIA TAIWAN FY24
Slide 12: Operational Updates
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Slide 13: Coal mining operational summary
Coal mining operational summary Graha Panca Karsa Indominco Mandiri FY24 Target: FY24 target: 1.0 Mt FY24 Target: 7.4 Mt 20.2 Mt 4Q24 Target: Trubaindo Coal Mining East Tepian Indah Sukses 5.2 Mt FY24 target: 2.9 Mt Kalimantan FY24 Target: 0.2 Mt 3Q24 9M24 West Kalimantan Coal 5.8 Mt 15.0 Mt product
Slide 14: Operational update – Indominco Mandiri
Operational update – Indominco Mandiri FY24 Target: Quarterly production (Mt) 7.4 Mt Indominco Mandiri 9M24 Actual: Located in East Kalimantan 1.9 2.0 5.4 Mt 1.7 1.7 East Kalimantan 3Q23 2Q24 3Q24 4Q24e SR 13.9x 11.9x 11.5x 12.9x Indominco Barge Ports (bcm/t) Hauling Stockpile Crusher ▪ 3Q24 product
Slide 15: Operational update – Trubaindo Coal Mining
Operational update – Trubaindo Coal Mining FY24 Target: Quarterly production (Mt) 2.9 Mt Trubaindo Coal Mining 9M24 Actual: Located in East Kalimantan 2.0 Mt 1.0 0.9 0.6 0.6 East Kalimantan 3Q23 2Q24 3Q24 4Q24e SR 13.1x 17.2x 15.4x 11.2x Barge Ports (bcm/t) East Bunyut Port Hauling Kalimantan Stockp
Slide 16: Operational update – Bharinto Ekatama
Operational update – Bharinto Ekatama FY24 Target: Quarterly production (Mt) 8.5 Mt Bharinto Ekatama 2.8 9M24 Actual: Located in East and Central Kalimantan 2.3 6.7 Mt 1.8 1.8 East Kalimantan 3Q23 2Q24 3Q24 4Q24e SR 9.7x 7.1x 6.6x 8.1x (bcm/t) East Bunyut Port Kalimantan ▪ 3Q24 production ramping up
Slide 17: Operational update – Graha Panca Karsa
Operational update – Graha Panca Karsa FY24 Target: Quarterly production (Mt) 1.0 Mt Graha Panca Karsa 9M24 Actual: Located in East Kalimantan 0.6 Mt 0.4 0.4 0.2 East Kalimantan N/A 3Q23 2Q24 3Q24 4Q24e SR - 5.0x 4.6x 3.3x Graha Panca Barge Ports (bcm/t) Karsa (GPK) Hauling Stockpile Crusher ▪ 3Q24
Slide 18: Operational update – Tepian Indah Sukses
Operational update – Tepian Indah Sukses FY24 Target: Quarterly production (Mt) 0.2 Mt Tepian Indah Sukses 9M24 Actual: Located in East Kalimantan 0.1 Mt 0.03 0.1 0.1 East Kalimantan N/A 3Q23 2Q24 3Q24 4Q24e SR - 43.5x 24.8x 12.8x Barge Ports East Bunyut (bcm/t) Port Kalimantan Hauling Stockpile Cru
Slide 19: Financial Updates
Nim 0G Financial Updates
Slide 20: Financial performance – profitability
Financial performance – profitability PROFIT OR LOSS STATEMENT EBITDA Unit: $ Mn Unit: $ Mn Revenue 1,827 1,657 540 360 560 608 527 161 132 114 3Q23 2Q24 3Q24 9M23 9M24 3Q23 2Q24 3Q24 9M23 9M24 Sales volume (Mt) 5.3 5.8 6.3 15.3 17.1 NET PROFIT Average selling price ($/ton) 99 94 97 119 96 Unit: $ M
Slide 21: Financial performance – cost
Financial performance – cost TOTAL COST BREAKDOWN STRIP RATIO Unit: $/ton Unit: (x) 83 74 75 68 75 17 11.7 11.9 14 11 11 11 Royalty 10.5 10.1 9.2 3Q23 2Q24 3Q24 9M23 9M24 65 66 64 3Q23 2Q24 3Q24 9M23 9M24 60 57 SG&A expenses D&A expenses FUEL PRICE Other Unit: $/liter production costs* 0.78 0.72 0.7
Slide 22: Financial position
Financial position BALANCE SHEET DEBT TO EQUITY Unit: $ Mn Total assets Unit: (x) 2,640 2,346 2,188 0.05 0.03 0.01 FY22 FY23 9M24 FY22 FY23 9M24 Assets Cash and cash equivalents 1,430 851 964 Other assets 1,210 1,337 1,382 NET GEARING Liabilities Unit: % Current maturities of long-term and 13 40 38
Slide 23: Capital expenditure
Capital expenditure 3Q24 CAPITAL EXPENDITURE DETAILS 9M24 % CAPEX REALIZATION Unit: $ Mn Others Renewable Total 3Q24: $12.9 Mn Greenfield 4% 5% projects 2% TRUST 9M24 CAPEX 5.7 27% $36.1 Mn 5.1 Coal mines 62% 1.6 0.0 2) FY24 % CAPEX BUDGET 1.7 Others 2% Renewable Coal mines 1.3 Greenfield 10% 68% pr
Slide 24: Q&A Session
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Slide 25: QoQ and YoY financial performance comparison
QoQ and YoY financial performance comparison Unit: US$ thousand 3Q24 2Q24 QoQ (%) 3Q23 YoY(%) 9M24 9M23 YoY(%) Net Revenues 607,647 560,292 8% 527,473 15% 1,657,176 1,826,662 (9%) Gross Profit 204,267 155,874 31% 151,948 34% 479,502 610,194 (21%) Gross Profit Margin 34% 28% 29% 29% 33% Selling Expen
Slide 26: ITM group structure
ITM group structure BANPU Public 65% 35% INDONESIAN STOCK EXCHANGE PT Indo Tambangraya Megah Tbk. IPO 18th Dec 2007 (Ticker: ITMG) ENERGY RENEWABLES MINING SERVICES AND OTHERS 95.07%1 SME 99.99% 70.00% 99.99% 99.99% 99.00% 99.00% 70.00% 99.99% 99.99% 99.99% TRUST IBP IMM TCM BEK JBG GPK TIS NPR Kita
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