Pt Indo Tambangraya Megah Tbk · IDX:ITMG
Pt Indo Tambangraya Megah Tbk — Q2 2024 Earnings Presentation
28 slides from Pt Indo Tambangraya Megah Tbk's earnings presentation, Aug 15, 2024
Slide 1: Analysts Meeting 2Q24 Performance Result
Analysts Meeting 2Q24 Performance Result 15 August 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: 2Q24 highlights – preparing for the home stretch of 2024
2Q24 highlights – preparing for the home stretch of 2024 BUSINESS PERFORMANCE Production Sales ASP 4.3 Mt 5.8 Mt $94/ton -12% QoQ / -1% YoY 16% QoQ / 8% YoY -3% QoQ / -17% YoY Revenue EBITDA Net Profit $560 Mn $114 Mn $67 Mn 15% QoQ / -9% YoY 34% QoQ / -33% YoY 10% QoQ / -46% YoY GOOD AND RESPONSIBL
Slide 6: Creating value from our valuable existing assets
Creating value from our valuable existing assets Currently we operate 6 mines and develop 1 mine as the value contributor to all stakeholders V A L U E C R E A TI O N EAST KALIMANTAN Bunyut port Coal sourcing Solar power expansion and and blending plant installation Kitadin (Mine closure) other ener
Slide 7: Leveraging our growth platform: decarbonization & digitalization
Leveraging our growth platform: decarbonization & digitalization DECARBONIZATION DIGITALIZATION Decarbonization strategy through emissions Utilizing digital technology to enhance reduction and removal enhancement efficiency and improve productivity c Energy efficiency Operational efficiency improvem
Slide 8: Latest reserves and resources audit result
Latest reserves and resources audit result Reserves 42 Mt Reserves Total ITM reserves as of Dec 2023 (Mt) 64 Mt Resources Resources 695 129 Mt Mt Updated 93 375 Reserves 78 Mt GPK Previous* 281 IMM TCM Resources NPR** 602 TIS** Mt Total ITM resources as of Dec 2023 (Mt) BEK Reserves 3 Mt Resources 1
Slide 9: Coal Market Trends
Nim Coal Market a Trends Ril a
Slide 10: Global thermal coal market
Global thermal coal market COAL DEMAND AND SUPPLY CHANGE – 2024e VS 2023 TRENDS Unit: Mt SUPPLY DEMAND DEMAND Peak summer demand will support the HCV coal market in JKT (1) amid ongoing sanctions on Russian coal. Strong hydropower in China and the monsoon in India will reduce imported coal demand fo
Slide 11: 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 throughout 2Q24, with the weekly GCNewc fluctuating between $125-145 per ton. 460 ▪ The market for lower-quality thermal coal remained relatively 420 sta
Slide 12: ITM coal sales
ITM coal sales 2Q24 COAL SALES VOLUME BASED ON SALES DESTINATION 6M24 COAL % SALES VOLUME Others 5% Total 2Q24 sales Thailand 5% 5.8 Mt India 5% Philippines 6% China 6M24 Sales 40% Japan 10.8 Mt 17% 2.6 Mt 0.7 Mt Indonesia CHINA JAPAN 22% 0.4 Mt INDIA FY24 INDICATIVE COAL SALES 0.2 Mt Unsold 21% THA
Slide 13: Operational Updates
Nim™ Operational = = | Updates 9
Slide 14: Coal mining operational summary
Coal mining operational summary Graha Panca Karsa Indominco Mandiri FY24 Target: FY24 target: 1.0 Mt FY24 Target: 7.0Mt 19.5-20.2 Mt 3Q24 Target: Trubaindo Coal Mining East Tepian Indah Sukses 5.6 Mt FY24 target: 2.9 Mt Kalimantan FY24 Target: 0.4 Mt 2Q24 6M24 West Kalimantan Coal 4.3 Mt 9.3 Mt prod
Slide 15: Operational update – Indominco Mandiri
Operational update – Indominco Mandiri FY24 Target: Quarterly production (Mt) 7.0 Mt Indominco Mandiri 6M24 Actual: Located in East Kalimantan 1.9 3.5 Mt 1.7 1.8 1.7 East Kalimantan 2Q23 1Q24 2Q24 3Q24e SR 14.1x 13.8x 11.9x 13.1x Indominco Barge Ports (bcm/t) Hauling Stockpile Crusher ▪ 2Q24 product
Slide 16: Operational update – Trubaindo Coal Mining
Operational update – Trubaindo Coal Mining FY24 Target: Quarterly production (Mt) 2.9 Mt Trubaindo Coal Mining 6M24 Actual: Located in East Kalimantan 1.4 Mt 0.8 0.7 0.7 0.6 East Kalimantan 2Q23 1Q24 2Q24 3Q24e SR 16.1x 13.3x 17.2x 12.0x Barge Ports (bcm/t) East Bunyut Port Hauling Kalimantan Stockp
Slide 17: Operational update – Bharinto Ekatama
Operational update – Bharinto Ekatama FY24 Target: Quarterly production (Mt) 8.1 Mt Bharinto Ekatama 6M24 Actual: Located in East and Central Kalimantan 2.5 2.2 4.0 Mt 1.8 1.8 East Kalimantan 2Q23 1Q24 2Q24 3Q24e SR 9.6x 7.3x 7.1x 7.6x (bcm/t) East Bunyut Port Kalimantan ▪ As we managed the inventor
Slide 18: Operational update – Jorong Barutama Greston
Operational update – Jorong Barutama Greston FY24 Target: Quarterly production (Mt) 0.2 Mt Jorong Barutama Greston 6M24 Actual: Located in South Kalimantan 0.2 Mt 0.1 0.1 0.1 - 2Q23 1Q24 2Q24 3Q24e East SR Kalimantan 11.0x 4.2x 3.9x - Barge Ports (bcm/t) Hauling Stockpile Jorong Crusher ▪ 2Q24 produ
Slide 19: Operational update – Graha Panca Karsa
Operational update – Graha Panca Karsa FY24 Target: Quarterly production (Mt) 1.0 Mt Graha Panca Karsa 6M24 Actual: Located in East Kalimantan 0.2 Mt 0.5 0.2 East Kalimantan N/A 0.03 2Q23 1Q24 2Q24 3Q24e SR - 16.3x 5.0x 3.1x Graha Panca Barge Ports (bcm/t) Karsa (GPK) Hauling Stockpile Crusher ▪ 2Q2
Slide 20: Operational update – Tepian Indah Sukses
Operational update – Tepian Indah Sukses FY24 Target: Quarterly production (Mt) 0.4 Mt Tepian Indah Sukses 6M24 Actual: Located in East Kalimantan 0.03 Mt 0.03 0.1 East Kalimantan N/A N/A 2Q23 1Q24 2Q24 3Q24e SR - - 43.5x 18.8x Barge Ports East Bunyut (bcm/t) Port Kalimantan Hauling Stockpile Crushe
Slide 21: Financial Updates
Nim™ 0G Financial Updates
Slide 22: Financial performance – profitability
Financial performance – profitability PROFIT OR LOSS STATEMENT EBITDA Unit: $ Mn Unit: $ Mn Revenue 1,299 408 1,050 614 560 198 489 169 114 85 2Q23 1Q24 2Q24 6M23 6M24 2Q23 1Q24 2Q24 6M23 6M24 Sales volume (Mt) 5.4 5.0 5.8 9.9 10.8 NET PROFIT Average selling price ($/ton) 114 97 94 131 96 Unit: $ Mn
Slide 23: Financial performance – cost
Financial performance – cost TOTAL COST BREAKDOWN STRIP RATIO Unit: $/ton Unit: (x) 88 80 82 75 78 12.5 12.0 19 15 Royalty 10.6 10 11 11 10.5 10.6 2Q23 1Q24 2Q24 6M23 6M24 71 68 68 2Q23 1Q24 2Q24 6M23 6M24 65 65 SG&A expenses D&A expenses FUEL PRICE Other Unit: $/liter production costs* 0.75 0.72 0.
Slide 24: Financial position
Financial position BALANCE SHEET DEBT TO EQUITY Unit: $ Mn Total assets Unit: (x) 2,640 0.03 2,188 2,161 0.01 0.01 FY22 FY23 6M24 FY22 FY23 6M24 Assets Cash and cash equivalents 1,430 851 877 Other assets 1,210 1,337 1,285 NET GEARING Liabilities Unit: % FY22 FY23 6M24 Current maturities of long-ter
Slide 25: Capital expenditure
Capital expenditure 2Q24 CAPITAL EXPENDITURE DETAILS 6M24 % CAPEX REALIZATION Unit: $ Mn Renewable Others Greenfield 1% 5% Total 2Q24: $9.5 Mn projects 2% 8.2 TRUST 20% 1.0 6M24 CAPEX 0.0 $23.2 Mn Coal 2.0 mines 72% 2) FY24 % CAPEX BUDGET 3.3 Others 2% Renewable Coal mines Greenfield 10% 68% project
Slide 26: Q&A Session
Nim™ Q&A Session =." Si
Slide 27: QoQ and YoY financial performance comparison
QoQ and YoY financial performance comparison Unit: US$ thousand 2Q24 1Q24 QoQ (%) 2Q23 YoY(%) 6M24 6M23 YoY(%) Net Revenues 560,292 489,237 15% 613,603 (9%) 1,049,529 1,299,189 (19%) Gross Profit 155,874 119,361 31% 191,330 (19%) 275,235 458,246 (40%) Gross Profit Margin 28% 24% 31% 26% 35% Selling
Slide 28: 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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