Pt Abm Investama Tbk · IDX:ABMM
Pt Abm Investama Tbk — 6M 2016 Earnings Presentation
28 slides from Pt Abm Investama Tbk's earnings presentation, June 2016
Slide 1: ABM Investama Monthly Updates
June 2016 ABM Investama Monthly Updates
Slide 2: Table of Content / Disclaimer
Table of Content DISCLAIMER 1: Reswara This presentation has been prepared by PT ABM Investama Tbk Tunas Inti Abadi (TIA) 4 (“ABMM” or the "Company") solely for general information. By attending the meeting where the presentation is made, or by reading MIFA Bersaudara (MIFA) 6 the presentation slide
Slide 3: Reswara: three coal mining companies
Under Reswara, we own three coal mining companies: Tunas Inti Abadi (TIA) located in South Kalimantan and two Aceh-based mines namely MIFA Bersaudara (MIFA) and Bara Energi Lestari (BEL)
Slide 4: TIA: 6M 2016 Performance
TIA: 6M 2016 Performance • June 2016 coal sales reached 439k tons • 6M 2016 coal production was 2,911k tons Thermal • 6M 2016 ASP was US$25.3/ton vs. 6M2015’s US$32.9 /ton Coal Monthly Coal Sales Monthly Coal Production Monthly Average Selling Price 6M Coal Sales 6M Coal Production 6M Coal ASP 4
Slide 5: TIA: (continued)
TIA: (continued) • June 2016 Overburden Removal reached 1,819k tons • TIA’s Monthly Stripping Ratio (SR) in June 2016 was 3.7x Thermal • 6M 2016 cash cost reached USD18.9 per ton Coal Monthly Overburden Removal Monthly Stripping Ratio (SR) Monthly Cash Cost 6M Overburden Removal 6M SR 6M Cash Cost 5
Slide 6: MIFA: 6M 2016 Performance
MIFA: 6M 2016 Performance • June 2016 coal sales reached 21k tons • 6M 2016 coal production was 11.5k tons Thermal • 6M 2016 ASP was US$23.7/ton vs. 6M2015’s US$24.0/ton Coal Monthly Coal Sales Monthly Coal Production Monthly Average Selling Price 6M Coal Sales 6M Coal Production 6M Coal ASP 6
Slide 7: MIFA: (continued)
MIFA: (continued) • June 2016 cash cost reached USD57.2 per ton Thermal Coal Monthly Overburden Removal Monthly Stripping Ratio (SR) Monthly Cash Cost 6M Overburden Removal 6M SR 6M Cash Cost 7
Slide 8: BEL: 6M 2016 Performance
BEL: 6M 2016 Performance • BEL reported June 2016 sales of 10k tons, lower than May 2016 • BEL’s ASP based on contract with EAS was USD 24.0/ton Thermal Coal Monthly Coal Sales Monthly Coal Production Monthly Average Selling Price 6M Coal Sales 6M Coal Production 6M Coal ASP 8
Slide 9: BEL: (continued)
BEL: (continued) • 6M 2016 OB Removal reached 84k tons • BEL reported cash cost of 27.6 in June 2016 Thermal • 6M 2016 cash cost reached USD16.7 per ton Coal Monthly Overburden Removal Monthly Stripping Ratio (SR) Monthly Cash Cost 6M Overburden Removal 6M SR 6M Cash Cost 9
Slide 10: Cipta Kridatama provides coal mining contracting services
Cipta Kridatama provides coal mining contracting services, consisted of overburden removal, rental services, and earthmoving construction
Slide 11: CK: 6M 2016 Performance
CK: 6M 2016 Performance • Overburden (OB) removal was 9.6 million BCM in June 2016 • CK’s monthly Stripping Ratio (SR) in June 2016 was 8.0x Mining Contractor Monthly OB Removal Monthly Rental Services Monthly Implied Stripping Ratio 6M OB Removal 6M Rental Services 6M Implied Stripping Ratio +9% Y-
Slide 12: CK: Historical Performance 2010 - 2015
CK: Historical Performance 2010 - 2015 • CK’s OB removal recovered to 131.1 million BCM in 2015 • Rental services posted record high of 17.5 million tons of coal in 2015 Mining Contractor OB Removal 2010 - 2015 Rental Service 2010 - 2015 Implied SR 2010 - 2015 Avg. Avg. Avg. Avg. 111.8 12.6 7 9.3 12
Slide 13: Sewatama power solution business
Sewatama power solution business ranges from Power Engine Rental (Temporary Power), Independent Power Producer (IPP), to Operation and Maintenance (O&M)
Slide 14: Temporary Power (TP): 6M 2016 Performance
Temporary Power (TP): 6M 2016 Performance • June 2016 total TP installed capacity reached 1,145 MW • Availability of TP in June 2016 was 35.5% Power • June 2016 electricity production from TP was 292.6 mn KwH Solutions Monthly Installed Capacity Monthly Availability Monthly Electricity Production 6M
Slide 15: Temporary Power: (continued)
Temporary Power: (continued) • Blended Lease Rate in June 2016 was IDR 285 per kWh • Utility Lease Rate in June 2016 was IDR 267 per kWh Power • Non Utility Lease Rate in June 2016 was IDR 470 per kWh Solutions Blended Monthly Lease Rate Utility Monthly Lease Rate Non Utility Monthly Lease Rate 6M B
Slide 16: IPP: 6M 2016 Performance (EAS only)
IPP: 6M 2016 Performance (EAS only) • Electricity production reached 36.5 mn KwH for the 6M 2016 • Capacity factor reached 66.4% in June 2016 Power Solutions Capacity Factor Availability Electricity Production 6M Capacity Factor 6M Availability 6M Electricity Production 16
Slide 17: IPP: EAS only (continued)
IPP: EAS only (continued) • EAS generated Revenues of about IDR 24.8bn for the 6M 2016 • Lease Rate of EAS was IDR 680 per KwH in 6M 2016 Power Solutions Average Rate Revenues 6M Average Rate 6M Revenues 17
Slide 18: Unaudited Financials Results
UNAUDITED FINANCIALS RESULTS
Slide 19: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (in US$ million) 31-Dec-15 30- June-16 Liabilities & Equities (in US$ million) 31-Dec-15 30- June-16 Cash and Other Current Financial 139.9 126.7 Short-term Interest Bearing Debts 164.2 236.4 Assets Trade Receivables, net 141.3 150.8 Trade Payables, Third Parties 45
Slide 20: Consolidated Profit & Loss
Consolidated Profit & Loss a b c Description 30 June 30 June % Variance 2015 2016 c = (b-a)/a Revenues 338,729,658 279,948,644 -17% COGS 272,983,847 219,656,397 -20% Gross Profit 65,745,811 60,292,248 -8% GP Margin 19% 22% Selling and GA expenses (37,187,290) (32,032,042) -14% Other operating income
Slide 21: Revenues
Revenues Company in USD million, unless otherwise stated 30-June-15 30-June-16 Change Y-o-Y CK 135.9 124.0 (11.9) -8.8% Sewatama 65.4 48.9 (16.5) -25.2% SSB 28.0 22.5 (5.5) -19.6% CKB 58.7 44.8 (13.9) -23.7% Reswara 110.3 76.5 (33.8) -30.7% Consolidated 338.7 279.9 (58.7) -17.3% 6M2015 Revenues Brea
Slide 22: Gross Profit
Gross Profit Company 30-Apr-16 In USD30-Aprmillion,-16 unless otherwise stated 30-June-15 30-June-16 Change Y-o-Y CK 20.6 23.3 2.8 13.5% Sewatama 14.5 8.7 (5.8) -40.2% SSB 4.4 4.4 (0.0) 0.4% CKB 10.2 9.7 (0.5) -5.2% Reswara 29.1 21.2 (7.9) -27.2% Consolidated 65.7 60.3 (5.4) -8.2% 6M 2015 Gross Prof
Slide 23: EBITDA
EBITDA Company in USD million, unless otherwise stated 30-June-15 30-June-16 Change Y-o-Y CK 33.5 39.8 6.3 18.9% Sewatama 28.4 16.8 (11.7) -41.1% SSB 2.5 1.7 (0.9) -34.0% CKB 7.6 8.3 0.7 9.0% Reswara 13.7 12.7 (1.1) -7.7% Consolidated 84.3 81.4 (2.9) -3.4% 6M 2015 EBITDA Breakdown by SBU 6M 2016 EBI
Slide 24: Net Profit (Loss)
Net Profit (Loss) Company in USD million, unless otherwise stated 30-June-15 30-June-16 Change Y-o-Y CK 4.9 7.7 2.8 58.7% Sewatama 1.2 -6.2 (7.4) -620.3% SSB -10 -0.1 0.9 -87.1% CKB 2.3 3.3 1.0 43.8% Reswara -0.2 -0.8 (0.6) -279.2% Consolidated 4.3 9.1 4.8 113.6% 6M 2015 Net Profit Breakdown by SBU
Slide 25: Notes
NOTES 25
Slide 26: Notes
NOTES 26
Slide 27: Notes
NOTES 27
Slide 28: Slide 28