Pt Trimegah Bangun Persada Tbk · IDX:NCKL
Pt Trimegah Bangun Persada Tbk — H1 2023 Earnings Presentation
26 slides from Pt Trimegah Bangun Persada Tbk's earnings presentation, 2023
Slide 1: Analyst/Investor Briefing 1H 2023
Dari Obi Untuk WSTBP PT TRIMEGAH BANGUN PERSADA TBK Judoucsia Analyst/Investor Briefing 1H 2023
Slide 2: Disclaimer
Disclaimer By attending the meeting where this presentation is made, or by reading the presentation materials, you are agreeing to maintain absolute confidentiality regarding the information disclosed in this document and to be bound by the following limitations: You must read the following before c
Slide 3: Agenda
Agenda Company Overview Operation Overview Financial Overview
Slide 4: Company Overview
Dari Obi Untuk 1 Company Overview
Slide 5: Company Overview
Company Overview TBP is a pure-play integrated operator of nickel mining and smelters in Indonesia with growing exposure to battery segment Large Upstream Resource Base Vertically Integrated Nickel Operations Total reserves of 168.9mt1 across Presence from upstream mining to downstream 2 operating m
Slide 6: History and Key Milestones
History and Key Milestones 2005 2006/07 2009 2010 2017 Commenced regional • GPS obtained an exploration • Started exploration and mining • Obtained IUP for Kawasi Mine Expanded investments in geological mapping permit for Loji in 2006 development at Kawasi Mine and commenced mining downstream smelti
Slide 7: TBP Group Structure and Portfolio Overview
TBP Group Structure and Portfolio Overview Comprehensive Nickel Value Chain Presence on the Obi Island Upstream Midstream Downstream RKEF technology Saprolite Ferronickel Stainless Steel Nickel Sulfate Industrial Cathode HPAL technology Zone Limonite MHP Precursor EV Battery Cobalt Sulfate Recycling
Slide 8: TBP Group Structure and Portfolio Overview
TBP Group Structure and Portfolio Overview Short Transportation Distance Between Assets All production facilities and supporting infrastructures are strategically planned and built in the west part of Obi Island with short transportation distance, resulting in lower operating expense and additional
Slide 9: Strong Commitment to Sustainability and Contributing to the UN SDGs
Strong Commitment to Sustainability and Contributing to the UN SDGs Governance Environmental Corporate governance: ensuring Land: waste and wastewater integrity and ethical behavior as core management, optimal surface water tenets of the company management and quality monitoring, Occupational health
Slide 10: Key Investment Highlights
Key Investment Highlights Existing And Growing Exposure To Key Battery Material Products Obi Island Integrated Pure-play Nickel Player With Low Operating Costs Vertically Integrated Operations Located on Obi Island With Operational Synergies Strategic Partnerships With Companies In Nickel Value Chai
Slide 11: Operations Overview
Dari Obi Untuk WSTBP Judonedia 2 Operations Overview
Slide 12: Mining Operations
Mining Operations Mining Production Output (million wmt) Nickel Ore Sales (million wmt) YoY CAGR=50% 10.72 140% YoY 9.34 CAGR=137% 75% 7.77 6.49 4.76 6.29 3.22 3.89 6.48 3.59 3.71 5.89 4.30 3.42 2.60 1.38 2.36 4.43 2.03 2.87 2.86 1.34 1.29 1.38 1.56 1.88 2.19 0.86 0.84 FY 2020 FY 2021 FY 2022 1H 202
Slide 13: HPAL Operations Snapshot
HPAL Operations — 1 HPAL Operations Snapshot HPL started construction of HPAL Project since mid 2018; started production in June 2021 from 2 production lines with total designed 1 capacity of 37,000 tons contained Ni/year MHP (Mixed Hydroxite Precipitate); and it is the first MHP producer in Indones
Slide 14: HPAL Production Output and Sales Volume
HPAL Operations — 2 HPAL Production Output (In ton) HPAL Sales Volume (In ton) YoY MHP Ni 42,310 YoY YoY MHP Ni 46% YoY MHP Ni MHP Ni =217% =233% 42,251 22% 30,002 20,585 23,969 19,588 13,349 12,671 2,797 5,303 3,178 1,290 1,811 2,693 5,317 2,573 2,551 1,721 FY 2021 FY 2022 1H 2022 1H 2023 FY 2021 F
Slide 15: Second HPAL Project – PT ONC
HPAL Operations — 3 Second HPAL Project – PT ONC TBP has started further expansion plan to increase MHP 1 production output through PT Obi Nickel Cobalt (ONC). PT ONC has started construction of the second HPAL project in mid 2022; which will have 3 production lines 2 with annual capacity of 65,000
Slide 16: RKEF Smelter Snapshot
RKEF Operations — 1 RKEF Smelter Snapshot First RKEF Smelter – PT Megah Surya Pertiwi (“MSP”) • Commenced full operation since early 2017; MSP has 4 production lines with annual production output of 25,000 tons contained Ni/year and currently run full capacity Second RKEF Smelter – PT Halmahera Jaya
Slide 17: Ferronickel Production Output and Sales Volume
RKEF Operations — 2 Ferronickel Production Output (In metal ton) Ferronickel Sales Volume (In metal ton) YoY YoY 186% 171% 37,550 37,756 CAGR=5% CAGR=7% 23,676 22,824 26,047 26,182 22,921 25,372 25,302 21,956 13,910 14,932 13,119 13,874 FY 2020 FY 2021 FY 2022 1H 2022 1H 2023 FY 2020 FY 2021 FY 2022
Slide 18: Financial Overview
Dari Obi Untuk WsTEP Yudoucsca 3 Financial Overview
Slide 19: Profit & Loss Statements Highlights – 1H22 vs 1H23
Profit & Loss Statements Highlights – 1H22 vs 1H23 Revenue Gross Profit and Margin Margin USD (in million) IDR (in billion) 48% 55% 49% 55% 34% CAGR YoY Commentary 53% 89% CAGR 55% YoY 643 680 315 314 17% ▪ Strong track record of 575 9,568 10,242 4,514 4,675 232 revenue growth driven by 8,229 207 27
Slide 20: Profit & Loss Statements
Profit & Loss Statements For the six-months For the years ended, Dec 31 period ended, June 30 Exchange rate USD/IDR 14,572 14,312 14,876 14,445 15,071 Commentary In IDR billion Audited Audited Audited Unaudited Unaudited FY020 FY21 FY22 1H 2022 1H 2023 ▪ Share in profit of associates’ Revenue 4,072
Slide 21: Profit & Loss Statements of QoQ
Profit & Loss Statements of QoQ In IDR billion In thousand USD Exchange rate USD/IDR 15,243 14,866 15,243 14,866 Unaudited Unaudited Unaudited Unaudited Q1 2023 Q2 2023 Variance Variance (%) Q1 2023 Q2 2023 Commentary Revenue 4,786 5,456 670 14% 314,005 367,019 Cost of good sold (3,220) (3,524) (304
Slide 22: Average Selling Price
Average Selling Price Limonite Ore (USD/wmt) Saprolite Ore (USD/wmt) Commentary YoY -18% YoY YoY -13% ▪ ASP nickel ores decreased due to 29% CAGR 30.84 33% the decrease of MEMR’s Reference 28.04 25.36 56.57 62.44 54.05 Price which has a direct link to LME, 21.74 although, there is a time-lag with th
Slide 23: Cash Costs
Cash Costs Limonite Ore (USD/wmt) Saprolite Ore (USD/wmt) Commentary YoY ▪ Both cash cost Saprolite CAGR CAGR -6% 13% and Cash Cost Limonite 137% YoY 26.72 slightly decreased in 1H 7.89 7.45 -9% 7.03 2023. 13.06 16.66 17.08 15.56 ▪ HPAL Cash Cost before 4.15 cobalt credit slightly up in 1.41 FY22 bu
Slide 24: QoQ Highlight
QoQ Highlight Nickel Ore (USD/wmt) HPAL Products (USD/t) Commentary Limonite Saprolite MHP Ni MHP Co NiSO₄ ▪ Limonite and saprolite -15% -12% -13% encountered a higher drop in 19,396 60.17 17,793 15,725 16,945 16,962 their ASP than in their Cash -22% 51.04 -10% Cost, resulting in lower 10,464 margin
Slide 25: Capital Expenditures
Capital Expenditures USD (in million) IDR (in billion) Historical Capital Expenditure 586 8,721 554 499 8,206 7,925 Commentary 7,271 7,828 ▪ Capex has grown from IDR 7.3T in FY 2020 to IDR 8.7T in FY 7,258 2022. Primarily consists of smelter projects, heavy equipment and vehicles. 324 ▪ At the end o
Slide 26: Thank You
THANK YOU For further information, please contact: Lukito Gozali – Head of Investor Relations PT Trimegah Bangun Persada Tbk. – Head Office Gedung Bank Panin Lt. 2 Jl. Jenderal Sudirman, Jakarta Pusat 10270, Indonesia www.tbpnickel.com | investor.relations@haritanickel.com
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