Pt Indo Tambangraya Megah Tbk · IDX:ITMG
Pt Indo Tambangraya Megah Tbk — 4Q24 Earnings Presentation
27 slides from Pt Indo Tambangraya Megah Tbk's earnings presentation, Mar 3, 2025
Slide 1: Analysts Meeting 4Q24 Performance Result
Analysts Meeting 4Q24 Performance Result 3 March 2025
Slide 2: Agenda
Agenda Highlights Coal Market Trends Operational Updates Financial Updates Q&A Session
Slide 3: 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 4: Highlights
(On Highlights Nim
Slide 5: ITM 4Q24 highlights
ITM 4Q24 highlights Operational Performance Completion of watershed rehabilitation in Menoreh hill Production 5.2 Mt -10% QoQ / 51% YoY During 4Q24, PT Bharinto Ekatama (BEK), an ITM subsidiary has successfully completed Menoreh watershed rehabilitation planting program, covering an area of 250 Ha.
Slide 6: Coal mining as our core business
Coal mining as our core business During 2024, ITM has maximized its existing assets and ensure a robust core business to meet the needs of now and the future. Strengthened the core business MINING Ramping up the annual production and starts the production of its two new mines (GPK and TIS). 20.2Mt 2
Slide 7: Optimizing supply chain and driving responsible transition
Optimizing supply chain and driving responsible transition ENERGY SERVICES RENEWABLE AND OTHERS Enhanced value creation through existing Strongly utilize the growth momentum of our assets and infrastructure across supply chain. solar rooftop business. 23.5Mbcm Working infrastructure completion Follo
Slide 8: 2024 awards and accolades
2024 awards and accolades 1 2024 ASRRAT 7 2024 Top GRC Awards ITM received Platinum Rank at the 2024 Asia ITM received an award for its commitment in Sustainability Reporting Rating, the highest rank tier. implementing the principles of GRC. 8 2024 Sustainable Business Integrity Index 2 2024 CSA Awa
Slide 9: Leveraging global future trends to drive long-term growth
Leveraging global future trends to drive long-term growth 1 2 3 4 Renewable Carbon linkage Electric Data center energy products vehicle and AI Solar PV is expected as the Carbon linkage product is Electric vehicle will be more Growing data center primary source of renewable essential to support the
Slide 10: Coal Market Trends
Coal Market Trends
Slide 11: Global thermal coal market
Global thermal coal market Coal demand and supply change – 2025e vs 2024 Demand trends Sluggish start to 2025 on warm winter and weak economic performance, Unit: Mt SUPPLY DEMAND given an apparent market oversupply. But we expect prices to stabilize later in the year assuming suppliers begin to cut
Slide 12: ITM ASP vs thermal coal benchmark prices
ITM ASP vs thermal coal benchmark prices ITM ASP vs benchmark prices Unit: $/t ITM ASP 420 4Q24 $93.2/t (-4% QoQ/-3% YoY) 320 21 Feb 2025 220 NEX ICI 3 $104.7/t $69.1/t Monthly NEX $129.2/t 120 Quarterly ITM ASP $93.2/t ICI 3 $72.5/t 20 2017 2018 2019 2020 2021 2022 2023 2024 12
Slide 13: ITM coal sales
ITM coal sales 4Q24 coal sales volume based on sales destination FY24 coal sales % Bangladesh 2% Others 3% 6.9Mt Hong Kong 2% Thailand 4% (10% QoQ/22% YoY) India 5% Philippines 5% China 2.4 Mt FY24 38% 1.4 Mt sales actual 24.0 Mt Japan 18% 0.2 Mt Japan Indonesia 0.3 Mt 23% China Bangladesh 0.1 Mt FY
Slide 14: Operational Updates
Nim O83 Operational Updates
Slide 15: Coal mining operational summary
Coal mining operational summary IMM Indominco Mandiri FY25 Target: 7.0 Mt Target production EAST FY25: 20.8 – 21.9 Mt KALIMANTAN GPK IMM 1Q25: 5.2 Mt GPK Graha Panca Karsa FY25 target: 2.1 Mt TCM TIS Actual production BEK TCM Trubaindo Coal Mining FY24: 20.2 Mt 20% YoY FY25 target: 3.3 Mt CENTRAL KA
Slide 16: Operational update – Indominco Mandiri
Operational update – Indominco Mandiri IMM Quarterly production (Mt) Indominco Mandiri FY25 Target: 7.0 Mt FY24 Actual: 7.3 Mt 1.9 2.0 1.5 1.6 4Q23 3Q24 4Q24 1Q25e SR (bcm/t) 14.3x 11.5x 11.4x 12.2x EAST KALIMANTAN ▪ 4Q24 production of Indominco achieved the target of 2.0 Mt with a lower strip ratio
Slide 17: Operational update – Trubaindo Coal Mining
Operational update – Trubaindo Coal Mining TCM Quarterly production (Mt) Trubaindo Coal Mining FY25 Target: 3.3 Mt FY24 Actual: 2.9 Mt 0.9 0.6 0.6 0.4 4Q23 3Q24 4Q24 1Q25e SR (bcm/t) 23.1x 15.4x 11.4x 8.5x EAST KALIMANTAN ▪ 4Q24 ramping up to 0.9 Mt with a lower strip ratio at 11.4x. ▪ 1Q25 producti
Slide 18: Operational update – Bharinto Ekatama
Operational update – Bharinto Ekatama BEK Quarterly production (Mt) Bharinto Ekatama FY25 Target: 8.3 Mt 2.8 FY24 Actual: 8.5 Mt 2.2 1.8 1.3 4Q23 3Q24 4Q24 1Q25e SR (bcm/t) 13.4x 6.6x 8.0x 8.1x EAST KALIMANTAN ▪ 4Q24 production achieved the target of 1.8 Mt with a slightly lower strip ratio at 8.0x.
Slide 19: Operational update – other mines
Operational update – other mines GPK TIS Quarterly production (Mt) Graha Panca Karsa Tepian Indah Sukses FY25 Target: 2.1 Mt FY25 Target: 0.6 Mt NORTH KALIMANTAN FY24 Actual: 1.1 Mt FY24 Actual: 0.2 Mt 0.7 0.6 0.1 TIS 0.4 0.1 0.1 0.5 0.6 GPK 0.4 NA 4Q23 3Q24 4Q24 1Q25e SR (bcm/t) - 24.8x 19.9x 22.5x
Slide 20: Navigating market challenges with robust operations
Navigating market challenges with robust operations Coal production volume Unit: Mt Optimizing mining operations through haul TARGET efficiency and capacity rationalization 20.2 20.8 - 21.9 16.9 Maximizing productivity and efficiency by maximizing asset utilization, optimizing working hours, streaml
Slide 21: Financial Updates
Financial Updates
Slide 22: Financial performance – profitability
Financial performance – profitability INCOME STATEMENT EBITDA REVENUE Unit: $ Mn 2,374 2,304 Unit: $ Mn 671 532 608 647 548 172 131 161 4Q23 3Q24 4Q24 FY23 FY24 4Q23 3Q24 4Q24 FY23 FY24 Average selling price ($/ton) 96 97 93 113 95 NET PROFIT Unit: $ Mn Gross profit ($ Mn) 132 204 219 743 699 Operat
Slide 23: Financial performance – cost
Financial performance – cost TOTAL COST BREAKDOWN STRIP RATIO Unit: $/ton Unit: (x) 81 75 68 15.0 67 73 12.5 16 12 11 11 11 Royalty 9.2 9.7 10.0 4Q23 3Q24 4Q24 FY23 FY24 65 63 62 57 4Q23 3Q24 4Q24 FY23 FY24 57 SG&A expenses D&A expenses FUEL PRICE Other Unit: $/liter production costs* 0.82 0.73 0.75
Slide 24: Financial position
Financial position BALANCE SHEET Borrowing 69 Borrowing Other 48 Liabilities TOTAL ASSETS DEBT TO EQUITY Other 403 Liabilities Cash As of 31 December 2024 As of 31 December 2024 351 990 Cash 851 $2,407Mn 0.04x FY23: $2,188Mn FY23: 0.03x Total CASH TO ACTUAL Total Equity Equity 1,934 TOTAL ASSETS REA
Slide 25: Q&A Session
Q&A Session
Slide 26: QoQ and YoY financial performance
QoQ and YoY financial performance Unit: US$ thousand 4Q24 3Q24 QoQ (%) 4Q23 YoY(%) FY24 FY23 YoY(%) Net Revenues 647,321 607,647 7% 547,653 18% 2,304,497 2,374,315 (3%) Gross Profit 219,308 204,267 7% 132,348 66% 698,810 742,542 (6%) Gross Profit Margin 34% 34% 24% 30% 31% Selling Expenses (47,925)
Slide 27: ITM group structure
ITM group structure PT Indo Tambangraya Megah Tbk. INDONESIAN STOCK EXCHANGE (65% shares owned by Banpu and 35% by Public) IPO 18th Dec 2007 (Ticker: ITMG) MINING 99.99% 99.99% 99.00% 99.99% 1 70.00% 99.99% 99.99% 99.99% PT Indominco PT Trubaindo PT Bharinto PT Jorong PT Graha PT Tepian PT Nusa PT K
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