PT Mitra Pinasthika Mustika Tbk · IDX:MPMX
PT Mitra Pinasthika Mustika Tbk — Q1 2015 Earnings Presentation
24 slides from PT Mitra Pinasthika Mustika Tbk's earnings presentation, May 5, 2015
Slide 1: 1Q15 MPMX Analyst & Investor Presentation
PT Mitra Pinasthika Mustika Tbk 1Q15 MPMX ANALYST & INVESTOR PRESENTATION 5 May 2015 www.mpmgroup.co.id
Slide 2: MPM Credo: Mission, Vision and Core Values
MPM CREDO Mission To provide high quality and friendly transportation products and services that make our customers happy Vision Become a friendly household name through resourceful and passionate people led by respectable and humble leaders MPM Core Values 4. Respect & Humble 1. Passion for Excelle
Slide 3: Key Messages
KEY MESSAGES MPM Updates Leading End-to-End Consumer Automotive Company in Indonesia 1Q15 Business Segments Performance Stable 2W, Continue Building 4W, Prudent Financing Business 1Q15 Summary +7% Revenue growth YoY, Earnings +32% QoQ but -24% YoY due to Sluggish Market 3
Slide 4: 28 Year Successful Legacy and Expertise in Automotive
28 YEAR SUCCESSFUL LEGACY AND EXPERTISE IN AUTOMOTIVE... Establishment – Pre 2012 1987 1988 1992 1994 2010 - 2011 Founded by William FKT was MPMMotor 1st Acquired initial Mulia was established; Soeryadjaya as 2W established retail outlet was shareholding in SAF, distribution business distribution bu
Slide 5: Creating an End-to-End Nationwide Ecosystem in Automotive
...CREATING AN END-TO-END NATIONWIDE ECOSYSTEM SERVING VAST CONSUMERS IN AUTOMOTIVE SECTOR... DISTRIBUTION & RETAIL AUTO CONSUMER PARTS AUTO SERVICES FINANCIAL SERVICES 2W Honda distribution in 2W engine lubricant Independent 2W, 4W, E. Java + E. Nusa brand principal with 35 lease financing business
Slide 6: With Market Leading Position Driving Growth
...WITH MARKET LEADING POSITION DRIVING GROWTH SCALE POSITION + GROWTH (1) #1 E. Java, 77% market share +8% 2W volume growth DISTRIBUTION & RETAIL #5 nationwide by volume +9% 2W retail volume growth 1 of 2 nationwide dealer ~630 unit sales 1Q15 AUTO CONSUMER ~20% market share in 2W lube +7% revenues
Slide 7: Segment Contribution in the Ecosystem
SEGMENT CONTRIBUTION IN THE ECOSYSTEM 7% 7% 7% 7% Revenues FY14 10% Revenues 1Q15 10% +16% +7%/-4% IDR 16.1T YoY IDR 3.9T YoY/QoQ 76% 76% 1% 8% 13% 7% NPATMI FY14 NPATMI 1Q15 -24%/+32% IDR 487B -7% IDR 116B 43% YoY/QoQ 48% YoY NPAT: 37% 43% - Guarantor: -11% - Non-Guarantor: -64% Distribution & Reta
Slide 8: Strong Governance and Management with Active Major Shareholders
STRONG GOVERNANCE AND MANAGEMENT IN PLACE WITH ACTIVE MAJOR SHAREHOLDERS BOARD OF COMMISSIONERS BOARD OF DIRECTORS BoC brings strong mix of operational, strategy, M&A, BoD members bring over 79 years of combined and governance expertise professional experience Shareholder Composition 15.3% PT Sarato
Slide 9: January–April 2015 Key Events
JANUARY – APRIL 2015 KEY EVENTS: DRIVING THROUGH EXCELLENCE Jan ‘15 Jan ‘15 Jan ‘15 MPMAuto opened its HQ and largest Mulia launched All New Honda Vario Received Top 5 Nissan Service Nissan-Datsun dealership in Alam 150 eSP in East Java Advisor Excellence Competency Sutera, with 52 service bays (NIS
Slide 10: MPM Has Used Up 88% of IPO Proceeds
MPM HAS USED UP 88% OF THE PROCEEDS RAISED IN THE IPO In IDR B (%) denotes percentage of net IPO proceeds. 270 300 MPMRent purchase FKT 17% stake acquisition new cars 20% 23% 970,000,000 shares (21.7% of enlarged TSO) 220 were offered to public market at IDR1,500 per share 1,355 MPMRent acquisition
Slide 11: Key Messages
KEY MESSAGES MPM Updates Leading End-to-End Consumer Automotive Company in Indonesia Company Updates 1Q15 Business Segments Performance Continued Stable 2W, scale building Continue and growth Building acrossFinancing 4W, Prudent all business segments Business 1Q15 Summary +7% Revenue growth YoY, Ear
Slide 12: 1Q15 Consolidated Revenue Results
1Q15 CONSOLIDATED REVENUE RESULTS IDR B 311 (16) 15 1 (52) 3,901 3,642 +7% Stable revenue growth in all business units 1Q14 1Q15 % Growth from LY +11% -4% +6% +0% Distribution Auto Consumer Financial Auto Services Elimination & Retail Parts Services 12
Slide 13: 1Q15 Consolidated Net Profit After Tax & Minority Interests Results
1Q15 CONSOLIDATED NET PROFIT AFTER TAX & MINORITY INTERESTS RESULTS IDR B (19) 5 6 (5) 0 (23) 152 -24% 116 1Q14 1Q15 % Growth from LY -26% +8% -26% -62% 14% -4% Auto Distribution Auto Financial Head Minority Consumer Elimination & Retail Services Services Office Interest Parts 13
Slide 14: 2W Distribution & Retail: Continue Leadership in E. Java and NTT
2W DISTRIBUTION & RETAIL: CONTINUE LEADERSHIP IN E. JAVA AND NTT Sales Volume (000 units, YoY%) 1Q15 Highlights Mulia +7% +0% 968 Mulia 905 968 240 • Volume relatively stable against LY 216 216 • Mulia’s sales growth 0% vs. nationwide -17.2% during 1Q15 1Q14 4Q14 1Q15 FY13 FY14 1Q15 LTM MSO +9% +3%
Slide 15: 4W Dealership: Build Network & Competitive Capability
4W DEALERSHIP: BUILD NETWORK & COMPETITIVE CAPABILITY Sales Volume (Car Units, YoY%) +28% 1Q15 Highlights Sales Performance 1,770 1,382 • Sold 623 units during 1Q15, ~45% FY14 achievement 16,670 1,382 130 235 400 623 • 5-6 dealerships in operations 1Q14 4Q14 1Q15 FY13 FY14 1Q15 LTM Dealers Opening R
Slide 16: Consumer Parts: Continue Brand Building and Strengthen Distribution
CONSUMER PARTS: CONTINUE BRAND BUILDING AND STRENGTHEN DISTRIBUTION Sales Volume (KL, YoY%) 1Q15 Highlights +2% -3% • NPAT +57% QoQ or +7% YoY due to price increase, lower COGS, and process improvements 62,116 60,632 60,632 60,283 • Introduced officially Federal Mobil, 4W full syntethic 16,678 engin
Slide 17: Auto Services: Maintain Operational Excellence
AUTO SERVICES: MAINTAIN OPERATIONAL EXCELLENCE Fleet Size (Units, YoY%) +13% 1Q15 Highlights -2% 15,257 • Maintain fleet size for positive cash flow during challenging 14,573 14,287 15,255 14,971 macro conditions 13,502 • Key Customers: 13,502 1Q14 4Q14 1Q15 FY13 FY14 1Q15 LTM Revenue (IDR B, YoY%)
Slide 18: MPMFinance: Selective Growth While Focus on Asset Quality
MPMFINANCE: SELECTIVE GROWTH WHILE FOCUS ON ASSET QUALITY New Booking (IDR B, YoY%) 1Q15 Highlights +21% -4% • Focus on asset quality and assures to that the non- 4,093 3,937 3,388 performing loan (NPL) ratio remain at a stable 2,6% level 1,001 1,092 845 • Revenue offset by opex and increased in pro
Slide 19: MPMInsurance: Increase Penetration Group & Non-Group Businesses
MPMINSURANCE: INCREASE PENETRATION GROUP & NON-GROUP BUSINESSES Gross Premium (IDR B, YoY%) FY14 Highlights +96% +96% +11% • Generated Rp 40,9 Billion in gross premium or +70% while net profit soared 131% compared to last year 165 • Total 13 rep. Offices and 9 service outlets 76 148 49 41 • Further
Slide 20: Key Messages
KEY MESSAGES MPM Updates Leading End-to-End Consumer Automotive Company in Indonesia 1Q15 Business Segments Performance Stable 2W, Continue Building 4W, Prudent Financing Business 1Q15 Summary 1Q14 Summary & Business Segments Performance +7% Revenue Stable growth 2W business YoY, Earnings despite na
Slide 21: MPM Looking to Maintain 16+% Growth
MPM LOOKING TO MAINTAIN 16+% GROWTH, CONTINUING POSITIVE TRENDS OVER THE LAST 5 YEARS Revenue (IDR Billion) NPAT (IDR Billion) 20+% CAGR 20+% CAGR 513 564 16,076 406 250 268 13,879 FY10 FY11 FY12 FY13 FY14 10,777 NPATMI (IDR Billion) 7,725 8,453 23+% CAGR 487 526 374 213 220 FY10 FY11 FY12 FY13 FY14
Slide 22: FY12–14 & 1Q15 Summary
FY12 – 14 & 1Q15 SUMMARY Key Metrics FY12 FY13 FY14 % 3M14 3M15 % Profit & Loss (IDR Billion) Net Revenue 10,777 13,879 16,076 16% 3,642 3,901 7% Gross Profit 1,618 2,024 2,314 14% 551 570 3% GP Margins 15.0% 14.6% 14.4% 15.1% 14.6% Operating Profit 746 901 868 -4% 244 206 -15% OP Margins 6.9% 6.5%
Slide 23: FY12–14 & 1Q15 Summary (2)
FY12 – 14 & 1Q15 SUMMARY (2) Key Metrics FY13 FY14 % 3M14 3M15 % Balance Sheet (IDR Billion) Cash Consolidated 1,103 1,422 29% 1,052 1,261 20% Cash Guarantor 848 1,107 30% 772 996 29% Bank Funding for Guarantor 1,987 675 -66% 2,101 642 -69% MCNs 0 0 0% 0 0 N/A Bonds 0 2,473 100% 0 2,559 N/A Bank Fun
Slide 24: Disclaimer
Disclaimer • These materials have been prepared by PT Mitra Pinasthika Mustika Tbk (the “Company”, “MPM”) and have not been independently verified. No representation or warranty, expressed or implied, is made and no reliance should be placed on the accuracy, fairness or completeness of the informati
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