PT Indika Energy Tbk · IDX:INDY
PT Indika Energy Tbk — 9M11 Earnings Presentation
98 slides from PT Indika Energy Tbk's earnings presentation, Nov 11, 2011
Slide 1: PT Indika Energy Tbk. Company Update 9M11
PT Indika Energy Tbk. Company Update 9M11 11 November 2011
Slide 2: Disclaimer
Disclaimer Investors and security holders are cautioned that this communication contains forward-looking statements and that forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict and are generally beyond the control of PT Indika Energy Tbk.
Slide 3: Table of Contents
Table of Contents ● 9M11 Review 4 ● Business Overview 23 – Energy Resource 24 – Energy Services 46 – Energy Infrastructure 58 ● Appendix – Fast Facts 75 – 2011 Focus 80 – Financial Highlights 85 3
Slide 4: 9M11 Review
INDIKA 9M11 Review
Slide 5: Indika's Financial Highlights (1)
Indika’s Financial Highlights (1) Revenue Gross Profit Operating Profit * (Rp bn) (Rp bn) (Rp bn) 37 4,000 800 714 90 25 3,532 70 2,843 567 47 54 50 1,540 352 214 30 2,000 1,077 400 35 10 27 1,223 180 235 1,018 -10 173 -30 748 769 127 (44) (57) 0 0 -50 9M10 9M11 9M10 9M11 9M10 9M11 Income from Assoc
Slide 6: Indika's Financial Highlights (2)
Indika’s Financial Highlights (2) Revenue Breakdown 9M10 9M11 Indika Indika 5.0% 8.2% Petrosea Petrosea 42.7% 46.1% Tripatra 30.8% Tripatra 52.3% MBSS 14.9% Rp 2,843 billion Rp 3,532 billion Note : *being consolidated since April 6, 2011 6
Slide 7: Petrosea's Financial Highlights (1)
Petrosea’s Financial Highlights (1) Revenue Gross Profit Operating Profit (Rp bn) (Rp bn) (Rp bn) 1,800 600 350 330 1,630 481 1,213 664 158 220 335 233 407 68 900 300 88 175 548 416 84 100 143 140 390 418 104 108 68 72 0 0 0 9M10 9M11 9M10 9M11 9M10 9M11 Income from Associates Adjusted EBITDA* Net P
Slide 8: Petrosea's Financial Highlights (2)
Petrosea’s Financial Highlights (2) Revenue Breakdown 9M10 9M11** E&C E&C 3.0% 5.8% POSB POSB 12.9% 7.5% Coal Coal Contract Contract Mining Mining 84.1% 86.7% US$ 135.9 million US$ 184.7 million 8
Slide 9: Petrosea's Operating Highlights (3)
Petrosea’s Operating Highlights (3) Mining’s Operation Overburden Removal Volume (mn bcm) Coal Getting Volume (mn ton) 90 6 82.98 4.90 31.22 59.30 2.16 3.10 19.42 45 3 29.09 0.97 19.19 1.61 0.95 20.69 22.68 1.18 1.13 0 0 9M10 9M11 9M10 9M11 1Q 2Q 3Q Client 9M10 9M11 Changes Client 9M10 9M11 Changes
Slide 10: Petrosea's Financial Highlights (4)
Petrosea’s Financial Highlights (4) Santan’s Operation Revenue Gross Profit Operating Profit (US$ mn) (US$ mn) (US$ mn) 135 45 40.8 35 30.8 112.6 113.3 36.1 10.6 7.3 24.3 29.5 33.5 9.8 90 6.8 39.3 23 16.0 18 12.4 42.4 14.4 45 10.4 43.8 37.4 14.2 11.9 11.1 7.1 0 0 0 9M10 9M11 9M10 9M11 9M10 9M11 EBIT
Slide 11: Petrosea's Operating Highlights (5)
Petrosea’s Operating Highlights (5) Santan’s Operation Overburden Removal (mn bcm) Coal Production (mn ton) Stripping Ratio (X) 18 2.0 40 12.06 15.3 14.7 1.59 9.23 1.5 5.6 0.48 1.27 12.95 5.3 9 1.0 0.43 20 11.56 4.4 4.6 0.48 11.26 0.42 8.54 0.5 5.1 5.1 0.63 0.42 8.00 11.94 0 0.0 0 9M10 9M11 9M10 9M1
Slide 12: Tripatra's Financial Highlights (1)
Tripatra’s Financial Highlights (1) Revenue Gross Profit Operating Profit (Rp bn) (Rp bn) (Rp bn) 1,600 200 200 1.434 174 157 150 150 1.075 600 80 74 100 100 800 495 45 38 17 50 -15 535 50 329 27 45 16 49 13 0 0 18 299 251 (28) (44) 0 -50 9M10 9M11 -50 9M10 9M11 9M10 9M11 Income from Associates Adju
Slide 13: Tripatra's Financial Highlights (2)
Tripatra’s Financial Highlights (2) Revenue Breakdown 9M10 9M11 Port & * Port & * Logistic Logistic 15.8% 21.8% O&M 11.5% O&M 15.0% EPC 63.2% EPC 72.7% Rp 1,434 billion Rp 1,075 billion Note : *Kuala Pelabuhan Indonesia (KPI) 13
Slide 14: Tripatra's Financial Highlights (3)
Tripatra’s Financial Highlights (3) Cotrans’ Operation Revenue Gross Profit Operating Profit (US$ mn) (US$ mn) (US$ mn) 60 6 5.4 6 54.3 5.0 47.6 5 5 1.4 18.5 3.5 1.4 4 4 3.0 40 15.8 0.7 3 3 0.6 2.5 19.2 2.2 16.4 2 2 20 3.0 2.8 1 1 1.5 1.4 15.4 16.6 0 (0.2) 0 0 (0.4) 9M10 9M11 -1 9M10 9M11 -1 9M10 9M
Slide 15: Tripatra's Financial Highlights (4)
Tripatra’s Financial Highlights (4) Sea Bridge Shipping’s Operation Revenue Gross Profit Operating Profit (US$ mn) (US$ mn) (US$ mn) 25 18 18 21.9 15.6 20.7 15.1 12.2 7.6 5.4 11.6 7.2 12 5.3 3.9 3.8 13 9 6.9 7.7 5.6 5.4 3.6 6 3.3 6.7 6.6 4.7 4.6 4.5 4.4 0 0 0 9M10 9M11 9M10 9M11 9M10 9M11 EBITDA Net
Slide 16: MBSS' Financial Highlights
MBSS’ Financial Highlights Revenue Gross Profit Operating Profit (Rp bn) (Rp bn) (Rp bn) 800 737 350 250 225 297 553 272 178 75 224 101 193 63 400 175 79 125 255 79 104 190 61 77 170 210 71 68 92 54 0 0 0 9M10 9M11 9M10 9M11 9M10 9M11 EBITDA Net Profit Barging (mn ton) Floating Crane (mn ton) (Rp bn
Slide 17: Kideco's Financial Highlights (1)
Kideco’s Financial Highlights (1) Revenue Gross Profit Operating Profit (US$ mn) (US$ mn) (US$ mn) 1,800 1,649 700 700 633 606 1,193 596 231 442 426 224 423 163 900 350 350 156 576 211 197 388 127 122 382 477 152 191 148 185 0 0 0 9M10 9M11 9M10 9M11 9M10 9M11 EBITDA Net Profit (US$ mn) (US$ mn) 700
Slide 18: Kideco's Operating Highlights (2)
Kideco’s Operating Highlights (2) Overburden Removal (mn bcm) Coal Production (mn ton) Stripping Ratio (X) 180 166.4 25 23.6 25 21.2 7.06 8.0 5.89 56.3 125.1 7.0 7.05 39.3 5.58 90 13 13 55.5 7.9 7.2 6.98 42.0 5.84 43.8 54.6 7.0 7.7 6.24 7.14 0 0 0 9M10 9M11 9M10 9M11 9M10 9M11 Coal Sales (mn ton) Av
Slide 19: Cash Balance & Debt
1) Cash Balance & Debt (US$ mn) 967.46 1,000 55.18 Lease 317.28 Bank loan 579.49 500 3) 513.20 595.00 Bond Restricted 2) Cash 0 66.29 Cash Balance Debt Note : IDR 8,823/US$ 1)September 30, 2011 2)Coal assets acquisition & one semi-annual interest payment of Bond 3)US$ 65 mn due 2012, US$ 230 mn due
Slide 20: Indika's Capex Realization 2011
Indika’s Capex Realization 2011 Allocation 2011 3M11 6M11 9M11 9M11 Budget Realization Realization Realization Realization (US$ mn) (US$ mn) (US$ mn) (US$ mn)* % Petrosea 103.0 31.5 38.7 75.8 73.6% POSB 27.6 0.8 1.0 1.5 5.4% Tripatra 1.5 0.2 0.6 1.0 66.7% Resources 26.4 2.0 6.3 8.9 33.7% ICT 16.9 0.
Slide 21: Kideco's Capex Realization 2011
Kideco’s Capex Realization 2011 Allocation 2011 3M11 6M11 9M11 9M11 Budget Realization Realization Realization Realization (US$ mn) (US$ mn) (US$ mn) (US$ mn) % Maintenance 21.1 0.04 5.4 7.0 33.2% Expansion- 6.4 0.3 0.7 1.0 15.6% Workshop Facilities Expansion- 27.5 7.6 18.9 29.1 105.8 % 7th infrastr
Slide 22: Dividends 2010
Dividends 2010 Company Net Profit 2010 Dividend Declared Indika Portion Dividend Received Date Received (US$ mn) (US$ mn) (US$ mn) (US$ mn) Payout ratio Kideco 316.3 70.0 32.2 32.2 Nov 2010 99.6% 245.0 112.7 66.7 March 2011 46.0 June 2011 Total Kideco 315.0 144.9 144.9 Payout ratio Petrosea 42.2 14.
Slide 23: Business Overview
INDIKA Business Overview
Slide 24: Energy Resources
Energy Resources Kideco Santan Batubara West Kalimantan 24
Slide 25: Rapid Growth in Demand for Sub-Bituminous Coal
Rapid Growth in Demand for Sub-Bituminous Coal Indonesia, the largest thermal coal exporter globally, is strategically positioned to supply Asia’s growing coal demand and benefit from the favorable trend in thermal coal prices. Global Sub-bituminous Coal Import Demand Indonesian Sub-bituminous Coal
Slide 26: Global Seaborne Thermal Coal Outlook
Global Seaborne Thermal Coal Outlook (mn ton) 1,000 shortfall still continues 500 0 2008 2009 2010 2011F 2012F 2013F 2014F 2015F 2016F 2017F 2018F Demand Supply Source: Australia Mineral Economics (AME) & Wood Mackenzie April 2011 26
Slide 27: Strong Coal Market Fundamentals Over Medium-to-Long Term
Strong Coal Market Fundamentals Over Medium-to-Long Term • In Dec 2010, the installed power • Chinese coal production concentrated generation capacity stand at 165,000 in the North & infrastructure to the MW, about 64.7% is coal fired plants. South remains a major issue therefore • The total demand
Slide 28: Strong Coal Market Fundamentals Over Medium-to-Long Term
Strong Coal Market Fundamentals Over Medium-to-Long Term • Indonesia expects to export thermal • Port & rail infrastructure problems is coal amounting to 229 mn tons this still become a constraint to export. year & expected to grow at a CAGR • Average production costs are of 4% between 2011 & 2025 t
Slide 29: Healthy Demand Outlook Fuelling Domestic Coal Production Growth
Healthy Demand Outlook Fuelling Domestic Coal Production Growth Indonesian Thermal Coal Production (mn tons) 450 405 361 321 300 185 270 254 240 191 217 193 201 198 206 150 191 163 145 220 170 120 48 54 49 56 64 0 2006 2007 2008 2009 2010 2015F 2020F 2025F Domestic Export 29 Source: ESDM 2011
Slide 30: PLN's Coal Fired Plant Capacity
PLN’s Coal Fired Plant Capacity (MW) 25,000 19,182 19,452 17,782 10,000 15,282 9,730 8,330 12,500 10,082 5,830 630 9,452 9,452 9,452 9,452 9,452 0 2010 2011F 2012F 2013F 2014F Existing Additional from 10,000 MW Project 30 Source: PLN 2011
Slide 31: PLN's Coal Consumption
PLN’s Coal Consumption Mostly Driven by Low Rank Coal (mn tons) 125 100 95.3 87.5 8.9 77.0 8.9 75 8.9 59.4 42.1 4.9 43.2 50 40.8 36.9 4.9 28.7 25 27.7 44.3 32.2 35.4 25.8 8.2 0 2010 2011F 2012F 2013F 2014F 4200 kcal 5100 kcal 6100 kcal 4,200 kcal Projected Consumption 5-year CAGR : 52.5% 31 Source:
Slide 32: Coal Price - Newcastle Benchmark
Coal Price - Newcastle Benchmark (US$/ton) 200 Jan’11 175 168.4 130.0 150 125 119.5 100 95.2 88.9 91.8 80.5 81.6 79.5 75 119.5 50 Oct’11 51.1 2007 Average 2008 Average 2009 Average 2010 Average 2011 ytd Average 25 US$ 64.9/ton US$ 125.2/ton US$ 72.3/ton US$ 99.2/ton US$ 122.9/ton 0 Jan 11 Jan07 Dec0
Slide 33: PT Kideco Jaya Agung
PT Kideco Jaya Agung Indika owns 46% of Kideco, the third- largest coal producer in Indonesia with 50,400 Ha concession in East Kalimantan Kideco engages in surface open-cut mining since 1993 First-generation Coal Contract of Work valid through 2023 JORC resources as of April 2011 at 1,376mt and res
Slide 34: Indika and Samtan are equal partners in the Kideco joint venture
Indika and Samtan are equal partners in the Kideco joint venture PT Muji Inti Utama Shareholding 46% 49% 5% Indonesian expertise and local access Leading Korean energy company Indonesian coal producer Role Business opportunities via the energy 45 years of mining experience A customer of Indika platf
Slide 35: Abundant Reserves and Resources
Abundant Reserves and Resources Reserves (in million tons)1) Calorific 2) Area Value (kcal) Proved Probable Total Roto South 4,870 91 66 157 Roto North 5,470 - 18 18 651 million tons Roto Middle 4,730 22 17 39 in Reserves Susubang 5,120 - 16 16 Samarangau 4,430 79 342 421 Total 192 459 651 1) Resour
Slide 36: Well Developed Infrastructure with End-to-End Control of Mining Process
Well Developed Infrastructure with End-to-End Control of Mining Process … Overburden Removal Process Barging and Shipping Production of “Run of Mine” (58km) 1 (ROM) Coal 6 2 Capable of loading a number of vessels simultaneously Total Distance: 99 – 107km Stockpiling at TMCT Crushing (3-11km) Exclusi
Slide 37: Supporting Reputation as the Most Reliable Supplier
… Supporting Reputation as the Most Reliable Supplier Unmatched Track Record of Production Achievement (mn ton) 35 100.2% 103.1% 29.0 29.1 100.0% 101.9% 104.1% 101.1% 102.2% 24.0 24.8 23.2 23.6 22.0 22.0 18.5 18.9 19.7 20.5 18.0 18.2 18 0 2005 2006 2007 2008 2009 2010 9M11 Target Actual Zero occurre
Slide 38: Kideco Production Breakdown
Kideco Production Breakdown Overburden Removal Volume (mn bcm) Mine 1Q10 2Q10 3Q10 4Q10 FY10 1Q11 2Q11 3Q11 9M11 Roto North 3.4 5.1 2.5 4.3 15.3 5.6 5.1 5.4 16.1 Roto South 28.2 23.2 26.4 25.4 103.2 30.8 32.3 32.2 95.3 Roto Middle 5.5 7.4 2.7 4.9 20.5 5.7 5.3 6.0 17.0 Samarangau 4.3 4.3 5.4 7.5 21.5
Slide 39: Kideco Operations Performance
Kideco Operations Performance (mn ton) (multiple) 200 8 7.05 7.06 6.60 170.1 166.4 5.45 6 163.0 5.85 133.3 4.85 112.1 100 106.7 4 2 29.1 22.0 24.7 23.6 18.9 20.6 0 0 2006 2007 2008 2009 2010 9M11 Overburden Coal Production Strip Ratio 39
Slide 40: Kideco's Operating Highlights
Kideco’s Operating Highlights Description 2010 1Q 2Q 3Q 4Q FY* Coal Production (mn ton) 7.0 7.2 7.0 7.8 29.05 Coal Sales (mn ton) 7.3 7.2 7.3 7.3 29.08 Stripping ratio (X) 6.24 5.84 5.58 5.76 5.85 Cash Cost (US$/ton incl. royalty) 31.94 35.52 36.02 34.35 34.36 Cash Cost (US$/ton excl. royalty) 25.37
Slide 41: One of the Lowest Cost Coal Producers in Indonesia
One of the Lowest Cost Coal Producers in Indonesia Cash Cost Component US$ Cash Cost / ton Freight Material Freight Material 4% 15% 6% 13% 9M11 Gov. Labor Royalty Labor 1% Gov. 1% US$ 42.34 incl. royalty Royalty Overhead 20% Overhead 20% 5% US$ 34.00 ex. royalty 5% 9M10 US$ 34.40 incl. royalty US$ 2
Slide 42: Kideco Sales By Countries
Kideco Sales By Countries Strong Presence in Traditional & New Markets 9M11 – Total Sales Volume : 23.8 mn tons 9M10 – Total Sales Volume : 21.8 mn tons Others Others Thailand Philippines Thailand 3.8% 6.6% 3.1% Indonesia 4.5% 4.8% Indonesia Philippines 23.5% Hong Kong 22.9% 6.3% 2.0% Hong Kong Mala
Slide 43: Santan Batubara – High Value Coal Mining Asset
Santan Batubara – High Value Coal Mining Asset Ownership and Operating Structure Asset Overview (mt) 284 PT Santan Batubara 48 Samarinda Reserves Resources Balikpapan Palangkaraya 50% 50% Banj armasin Mining Coal marketing services services Resources & Reserve (in million tons) Margin Expanded Amids
Slide 44: Santan's Operating Highlights
Santan’s Operating Highlights Description 2010 1Q 2Q 3Q 4Q FY* Coal Production (mn ton) 0.6 0.5 0.5 0.4 2.0 Coal Sales (mn ton) 0.7 0.5 0.4 0.5 2.1 Stripping ratio (X) 8.00 8.54 11.56 12.37 9.86 Cash Cost (US$/ton incl. royalty) 51.22 55.93 46.50 75.52 56.06 Cash Cost (US$/ton excl. royalty) 43.37 4
Slide 45: West Kalimantan Project
West Kalimantan Project Asset Overview Acquired coal mining rights (“KPs”) in February 2009 for US$18.0 mn Original Concession area was 53,050 Ha in Melawi, West Kalimantan. Detailed Geological Survey and Paloh Mapping has focused on the remaining 34,200 Ha 109 Coal Outcrops have been identified Pon
Slide 46: Energy Services
Energy Services Tripatra & Subsidiaries PT Petrosea Tbk. 46
Slide 47: Direct Exposure to Growth in Indonesian Infrastructure Spending
Direct Exposure to Growth in Indonesian Infrastructure Spending Energy services will experience strong growth driven by significant infrastructure investment. Expected New LNG Capacity in Indonesia Upstream Oil and Gas Capex Investment Plan for IPP and PLN Indonesia (US$bn) (US$bn) (m mtpa) 14,000 U
Slide 48: Tripatra Has 38 Years Track Record in the Energy Services
Tripatra Has 38 Years Track Record in the Energy Services Established in 1973 Multi-discipline engineering / EPC and project capabilities Well-established track record with highly rated multinational companies Long-term relationships with key customers including Chevron, Exxon Mobil and HESS Leading
Slide 49: Tripatra's Backlog in 2011
Tripatra’s Backlog in 2011 Client Project descriptions Contract Time period Remaining Revenue Remaining Value Contract Value Recognition Contract Value (US$ mn) (US$ mn) (US$ mn) (US$ mn) Per Period ended Per 31 Dec 2010 30 Sep 2011 30 Sep 2011 Ongoing 2) Jambi Merang Field Development 185.7 2007–20
Slide 50: Tripatra's Project Pipelines in 2011
Tripatra’s Project Pipelines in 2011 Client Project descriptions Contract Time period value (US$ mn) CVX-ECM* 150.0 2011-2015 Note : *re-tender of PMEC Project 50
Slide 51: Tripatra's Subsidiaries
Tripatra’s Subsidiaries PT Kuala Pelabuhan Indonesia Since Dec 2008 Tripatra holds a 100% equity interest in KPI through direct KUALA and indirect ownership PELABUHAN INDONES IA KPI provides four major services : marine operation, road & transportation, construction and maintenance. PT Cotrans Asia
Slide 52: PT Petrosea Tbk.
PT Petrosea Tbk. PT Petrosea Tbk. is a multi-disciplinary engineering, construction and mining company with a track record of achievement in Indonesia since 1972. Today, Petrosea is recognised as one of Indonesia's leading engineering and construction contractors. Petrosea’s strategy is to be an Ind
Slide 53: Petrosea Offshore Supply Base
Petrosea Offshore Supply Base Facilities Equipment • Quay (inner : 4-6 meters & outer 5-8 meters water depth) • 8 various type Cranes • Storage : • 9 various type Fork lifts - Undercover (13,500 square meters) & Open (80,000 square meters) • 4 prime mover and trailers - Oil (4,000 cubic meters) & di
Slide 54: Petrosea's Strong Backlog in 2011
Petrosea’s Strong Backlog in 2011 Client Project descriptions Contract Scope of Work Time period Remaining Revenue Remaining value Contract Recognition Contract (US$ mn) Value (US$ mn) Value (US$ mn) (US$ mn) Per Period Per 31 Dec ended 30 30 Sep 2010 Sep 2011 2011 Existing Contract Gunung Bayan Pra
Slide 55: Petrosea's Project Pipelines in 2011
Petrosea’s Project Pipelines in 2011 Client Project descriptions Contract Scope of Work Time period value (US$ mn) Target Contract Extention/Additional Volume Gunung Bayan Pratama 221.1 Overburden 276.5 mn bcm 2011–2015 Overburden 215.5 mn bcm Santan Batubara 453.9 2011–2016 Coal Extraction12.9 mn t
Slide 56: Petrosea's Mining Operating Highlights
Petrosea’s Mining Operating Highlights Overburden Removal Volume (mn bcm) Client 1Q10 2Q10 3Q10 4Q10 FY10 1Q11 2Q11 3Q11 9M11 Gunung Bayan Pratama 9.94 9.32 9.96 9.49 38.71 9.80 10.57 11.1 31.47 Santan Batubara 5.08 4.39 5.25 5.17 19.89 5.06 4.67 5.56 15.29 Adimitra Baratama 5.67 5.48 4.21 6.82 22.1
Slide 57: Mining Fleet
Mining Fleet Petrosea maintains an extensive & high quality fleet. This allows flexibility in fleet management and lowers the risk of operational disruptions to customers. Excavator Dump Trucks Bulldozers 20 10 4 102 82 53 27 20 12 Graders Ancillary Equipment 10 9 13 116 66 14 Total operational flee
Slide 58: Energy Infrastructure
Energy Infrastructure PT Mitrabahtera Segara Sejati Tbk. PT Cirebon Electric Power 58
Slide 59: PT Mitrabahtera Segara Sejati Tbk.
PT Mitrabahtera Segara Sejati Tbk. MBSS is an integrated coal transport and logistics (one-stop-solution) service company incorporated in 1994. The services range from ship management, ship registration, harbor assist tugs, LCT, floating cranes, floating terminals, manning services, marine consultan
Slide 60: Summary of MBSS Acquisition
Summary of MBSS Acquisition Following the completion of the IPO of MBSS on April 6, 2011, Indika acquired 51% of its shares for US$168m in cash. Transaction Banks 3 Bank debt and internal cash 1 Indika entered into an option agreement to purchase 51% of MBSS 1 Call Option MBSS was listed on April 6,
Slide 61: Enhancement of Energy Services Business
Enhancement of Energy Services Business Identification / Acq Exploration (managed) Econ. and Feasibility Study Eng. and Construction Production Processing Transshipment Loading Terminal Barge Unloading Barging Barge Loading Land Transportation Enhance Indika’s coal value chain with Port to Vessel se
Slide 62: Revenue from Top Tier Customers- Supported by Long Term Contracts
Revenue from Top Tier Customers- Supported by Long Term Contracts Diversified client base • MBSS customers are primarily the country’s largest thermal coal producers with of top-tier Indonesian strong credit profiles such as Adaro, KPC, Bukit Asam, Berau Coal, Kideco, Banpu, coal producers and Strai
Slide 63: Large Fleet of Young Vessels
Large Fleet of Young Vessels Tug Barges Floating Crane 52 14 48 14 4 1 Total 66 Total 62 Total 5 Average age : 5 years Average age : 5 years Average age : 2 years Cement Vessel MBSS Capex Realization 2011 Support Vessel 2011 Budget 9M11 Realization* 9M11 Realization (US$ mn) (US$ mn) (%) 74.3 77.4 1
Slide 64: MBSS' Operating Highlights
MBSS’ Operating Highlights Operation Breakdown by Volume – 9M11 Operation Breakdown by Value – 9M11 Floating Floating Crane Crane 26% 43% Barging 57% Barging 74% 28.4 mn ton Rp 737.2 bn Top 5 Customers for Barging : Top 5 Customers for Floating Crane : PT Kaltim Prima Coal PT Adaro Indonesia PT Adar
Slide 65: MBSS' Cost Structure
MBSS’ Cost Structure 9M11 9M10 Others Others 9% 9% Handling Handling 4% 3% Fuel Fuel 31% 31% Depreciation 23% Depreciation 22% Repair & Repair & Certificates Certificates maintenance maintenance & documents & documents 6% 12% 4% 4% Salaries & Salaries & Vessel rental Insurance allowance Vessel renta
Slide 66: MBSS' Backlog in 2011 (1)
MBSS’ Backlog in 2011 (1) Client Time period Remaining New Contract/ Revenue Remaining ended Contract Value Additional Value Recognition Contract Value (US$ mn) (US$ mn) (US$ mn) (US$ mn) Per Period ended Per 31 Dec 2010 30 Sep 2011 30 Sep 2011 Barging Adaro Energy 2010-2017 165.3 10.6 154.6 Kaltim
Slide 67: MBSS' Backlog in 2011 (2)
MBSS’ Backlog in 2011 (2) Client Time period Remaining New Contract/ Revenue Remaining ended Contract Value Additional Value Recognition Contract Value (US$ mn) (US$ mn) (US$ mn) (US$ mn) Per Period ended Per 31 Dec 2010 30 Sep 2011 30 Sep 2011 Transshipments Kideco Jaya Agung 2010-2015 27.7 3.3 24.
Slide 68: CEP's Project Structure
CEP’s Project Structure Location ● Cirebon, Java Capacity ● 1x660MW Shareholding ● Marubeni Corp.: 32.5% ● KOMIPO Co.: 27.5% ● Samtan Co.: 20% ● Indika: 20% Off-taker ● PLN Target Completion ● 2011 Indika holds a 20% equity interest in CEP, the first international tender of IPP post Asian financial
Slide 69: CEP's Project Status
CEP’s Project Status ● Overall Progress Accomplishment As of September 30, 2011 overall project progress is 97.50% Equipment Supply : 99.99% Construction : 99.81% Commissioning : 42.06% ● Operation & Maintenance (O&M) – PT. Cirebon Power Services Established in February 2010 Started mobilization to
Slide 70: CEP's Progress Development (1)
CEP’s Progress Development (1) Turbine & Generator Boiler Plant 70
Slide 71: CEP's Progress Development (2)
CEP’s Progress Development (2) Transmission Line Switch Yard Electrical Transfermator Switch Yard 71
Slide 72: CEP's Progress Development (3)
CEP’s Progress Development (3) Control Building Administration Building Civil and Structural Facilities Water Treatment Building Fire Station 72
Slide 73: CEP's Progress Development (4)
CEP’s Progress Development (4) Inland Conveyor Transfer Point Conveyor Facilities Conveyor House In-plant Conveyor 73
Slide 74: Appendix
Appendix 1. Fast Facts 2. 2011 Focus 3. Financial Highlights 74
Slide 75: Fast Facts
INDIKA Fast Facts
Slide 76: Indonesia's Leading Fully Integrated Energy Company
Indonesia’s Leading Fully Integrated Energy Company Energy Resources Energy Services Energy Infrastructure Established in 1973 Established in 2007 Established in 1982 Leader in EPC services 660 MW IPP 50,400 ha Concession (onshore Oil & Gas) Signed 30 years PPA with No.3 coal producer PLN 29.1 mt pr
Slide 77: Corporate Structure
Corporate Structure As of Oct 31, 2011 PT. Indika Energy Tbk. (Indonesia) 90 % 100% 100% 100% 98.55% 100% 100% 100% 100% PT . Indika Indonesia Resources PT . Indika Inti Corpindo PT Indika Indika Power PT Indika Energy Indo Integrated Energy PT . T ripatra Engineers PT . T ripatra PT . Petrosea T bk
Slide 78: INDY Shareholding Structure
INDY Shareholding Structure PT. Indika Mitra Indiv idual Founders Public Energi (less than 5% each) 63.08%* 29.40% 7.52% PT Indika Energy Tbk. (INDY) listed in the Indonesia Stock Exchange on June 11, 2008 Number of shares : 5,207,142,000 Part of IDX’s LQ 45 Index and MSCI Indonesia Index Market Cap
Slide 79: Liability Management
Liability Management B2 B1 Positive Outlook Upgraded to Positive Outlook The Senior Notes are rated: B+ B+ Stable Outlook Reaffirmed at Stable Outlook Indo Integrated Energy B.V. Indo Integrated Energy II B.V. Indo Energy Finance B.V. US$ 65 mn US$ 230 mn US$ 300 mn 9.00% 5-year Senior Notes 9.75% 7
Slide 80: 2011 Focus
INDIKA 2011 Focus
Slide 81: Growth Oriented Strategy
Growth Oriented Strategy Econ. and Eng. and Feasibility Study Construction Exploration (managed) Production Identification / Acquisition Processing Integrate diversified energy platform and achieve operational synergies Land Transportation Coal Resource Continue to diversify earnings to achieve stab
Slide 82: Execution of Our Strategy – Key Milestones throughout 2010 and 2011
Execution of Our Strategy – Key Milestones throughout 2010 and 2011 Consistent with our long-term strategy, throughout 2010 and 2011, we have continued to leverage our integrated energy platform to capitalize on growth and diversification of opportunities. Joint venture with Indika signed Completion
Slide 83: Accumulating Coal Reserves for Future Growth
Accumulating Coal Reserves for Future Growth Indika expects to grow its reserve base through ongoing exploration, such as at West Kalimantan. Basin 1 (Kutai Barat, Basin 2 East Kalimantan) (Kutai Kertanegara, East Kalimantan) Reserves 699 (mt) 416 463 311 47 105 Basin 3 (Barito Utara & Selatan, Cent
Slide 84: 2011 Key Assumptions
2011 Key Assumptions Exchange rate IDR 9,000/US$1 Coal Price (New Castle Index) US$ 105/ton Fuel Cost (Diesel) IDR 7,200/liter Dividend Payout Ratio 50% Resources Average Selling Price (ASP) US$ 66.0/ton Production Volume 31.0 mn tons Kideco Strip Ratio (SR) 6.2 X Cash Cost exl. Royalty US$ 31.0/ton
Slide 85: Financial Highlights
INDIKA Financial Highlights
Slide 86: Indika's Financial Highlights (1)
Indika’s Financial Highlights (1) Description 3Q11 2Q11 1Q11 Changes (%) 9M11 9M10 Changes (in Rp. Billion) unaudited unaudited unaudited 3Q-2Q 2Q-1Q unaudited unaudited (%) Revenue 1,540 1,223 769 26.0% 59.1% 3,532 2,843 24.3% Gross Profit 352 235 127 49.7% 85.1% 714 567 26.0% Operating Profit 54 2
Slide 87: Indika's Financial Highlights (2)
Indika’s Financial Highlights (2) Description 9M11 12M10 Changes 9M10 Changes (in Rp. Billion) unaudited audited (%) unaudited (%) Current Assets 6,323 4,966 27.3% 5,579 13.3% Total Assets 17,241 11,459 50.5% 11,465 50.4% Current Liabilities 3,780 1,360 178.0% 1,194 216.7% Total Debt 8,089 4,854 66.
Slide 88: Kideco's Financial and Operating Highlights (1)
Kideco’s Financial and Operating Highlights (1) Description 3Q11 2Q11 1Q11 Changes (%) 9M11 9M10 Changes (in US$ mn) unaudited unaudited unaudited 3Q-2Q 2Q-1Q unaudited unaudited (%) Revenue 597 576 477 3.6% 20.8% 1,649 1,193 38.3% Gross Profit 231 211 191 9.7% 10.6% 633 442 43.4% Operating Profit 2
Slide 89: Kideco's Financial and Operating Highlights (2)
Kideco’s Financial and Operating Highlights (2) Description 9M11 12M10 Changes 9M10 Changes (in US$ mn) unaudited audited (%) unaudited (%) Current Assets 675 477 41.5% 624 8.1% Total Assets 896 666 34.5% 830 8.0% Current Liabilities 414 276 49.7% 314 31.7% Debt 8 9 -15.8% 10 -20.0% Shareholders' Eq
Slide 90: Santan Batubara's Financial and Operating Highlights (1)
Santan Batubara’s Financial and Operating Highlights (1) Description 3Q11 2Q11 1Q11 Changes (%) 9M11 9M10 Changes (in US$ mn) unaudited unaudited unaudited 3Q-2Q 2Q-1Q unaudited unaudited (%) Revenue 33.5 42.4 37.4 -20.9% 13.4% 113.3 112.6 0.6% Gross Profit 9.8 14.5 11.9 -32.7% 22.3% 36.1 40.8 -11.5
Slide 91: Santan Batubara's Financial and Operating Highlights (2)
Santan Batubara’s Financial and Operating Highlights (2) Description 9M11 12M10 Changes 9M10 Changes (in US$ mn) unaudited audited (%) unaudited (%) Current Assets 35.1 20.5 71.7% 28.5 23.1% Total Assets 47.8 36.2 32.2% 38.7 23.6% Current Liabilities 17.0 18.3 -7.0% 17.9 -5.0% Debt - - n/a - n/a Tot
Slide 92: Tripatra's Financial Highlights (1)
Tripatra’s Financial Highlights (1) Description 3Q11 2Q11 1Q11 Changes (%) 9M11 9M10 Changes (in Rp. Billion) unaudited unaudited unaudited 3Q-2Q 2Q-1Q unaudited unaudited (%) Revenue 495 329 252 50.8% 30.6% 1,075 1,434 -25.0% Gross Profit 27 (28) 18 93.3% -253.3% 17 174 -90.0% Operating Profit 16 (
Slide 93: Tripatra's Financial Highlights (2)
Tripatra’s Financial Highlights (2) Description 9M11 12M10 Changes 9M10 Changes (in Rp. Billion) unaudited audited (%) unaudited (%) Current Assets 998 837 19.3% 957 4.3% Total Assets 1,567 1,429 9.7% 1,384 13.3% Current Liabilities 521 504 3.2% 359 45.2% Total Debt 192 34 462.0% 30 548.1% Sharehold
Slide 94: Petrosea's Financial Highlights (1)
Petrosea’s Financial Highlights (1) Description 3Q11 2Q11 1Q11 Changes (%) 9M11 9M10 Changes (in US$ mn) unaudited unaudited unaudited 3Q-2Q 2Q-1Q unaudited unaudited (%) Revenue 72.3 64.4 48.0 12.3% 34.2% 184.7 135.9 35.9% Gross Profit 25.7 16.5 12.4 55.4% 33.2% 54.6 37.6 45.1% Operating Profit 17.
Slide 95: Petrosea's Financial Highlights (2)
Petrosea’s Financial Highlights (2) Description 9M11 12M10 Changes 9M10 Changes (in US$ mn) unaudited audited (%) unaudited (%) Current Assets 89.1 68.7 29.6% 77.8 14.6% Total Assets 300.2 222.5 34.9% 208.3 44.2% Current Liabilities 82.1 65.6 25.3% 61.1 34.5% Debt 102.7 54.5 88.6% 59.3 73.2% Shareho
Slide 96: MBSS' Financial Highlights (1)
MBSS’ Financial Highlights (1) Description 3Q11 2Q11 1Q11 Changes (%) 9M11 9M10 Changes (in Rp. Billion) unaudited unaudited unaudited 3Q-2Q 2Q-1Q unaudited unaudited (%) Revenue 272 255 210 6.6% 21.8% 737 553 33.3% Gross Profit 101 103 92 -2.4% 11.9% 297 224 32.5% Operating Profit 74 79 71 -6.5% 12
Slide 97: MBSS' Financial Highlights (2)
MBSS’ Financial Highlights (2) Description 9M11 12M10 Changes 9M10 Changes (in Rp. Billion) unaudited audited (%) unaudited (%) Current Assets 320 216 48.4% 231 38.4% Total Assets 2,665 1,988 34.1% 1,943 37.2% Current Liabilities 489 391 25.1% 342 43.0% Total Debt 886 656 35.1% 619 43.2% Shareholder
Slide 98: Thank You
Thank You PT. Indika Energy Tbk. Mitra Building 7th Floor Jl. Jend. Gatot Subroto Kav. 21 Jakarta 12930 Indonesia (6221) 2557-9888 www.indikaenergy.co.id investor.relations@indikaenergy.co.id 98