Pt Radiant Utama Interinsco Tbk · IDX:RUIS
Pt Radiant Utama Interinsco Tbk — 9M07 Earnings Presentation
24 slides from Pt Radiant Utama Interinsco Tbk's earnings presentation, Nov 23, 2007
Slide 1: Public Expose PT Radiant Utama Interinsco Tbk
PT Radiant Utama Interinsco Tbk PUBLIC EXPOSE PT RADIANT UTAMA INTERINSCO Tbk 23 November 2007 1
Slide 2: Today's Agenda
Todays Agenda • Our Company in Brief • Our Financial Performance • Our Business Strategy & Projections 2
Slide 3: Company in brief
PT Radiant Utama Interinsco Tbk Company in brief 3
Slide 4: Asset-light company overview and clients
a years old asset-light-company, with turnover more than million with over employees, managing over people with BP, Conoco, Santos, Chevron, Amerada ExxonMobil, Total E&P as clients. 4
Slide 5: Product & Services Profile
Product & Services Profile Inspection & Certification Operation Support Services Operate Offshore Drilling Offshore Crane supply & Lease Operate MOPU under SantaFe Supraco maintenance 5
Slide 6: Company Structure
Company Structure Radiant Radiant Nusa Nusa Investama Investama Mr Mr Asad Asad Umar Umar 63.58% 2.65% Sojitz Sojitz Offshore Offshore Project Project Public Public 5.84% 27.93% Radiant Radiant Utama Utama Interinsco, Interinsco, Tbk Tbk 99.99% 99.67% Supraco Supraco Indonesia Indonesia Radiant Radi
Slide 7: 9M07 Financial Result
PT Radiant Utama Interinsco Tbk 9M07 Financial Result 7
Slide 8: Key financial highlight
Key financial highlight Revenue 30.2% Net profit 30.4% 8
Slide 9: Financial Summary
Financial Summary 9M07 Net profit increased 30.4% to Rp 24.3 billion • higher revenue, • better gross margin, • Higher operating expenses offset by and lower other expenses • Net margin maintained at 3.7% Rp billion 9M07 9M06 % Change Revenue 660.5 507.4 30.2 COGS (579.7) (445.8) 30.0 Gross profit 8
Slide 10: Revenue
Revenue • Revenue increased 30.2% to Rp 660.5 billion in 9M07, came 450 from all business units. 400 • Revenue from Offshore increased 175% yoy to Rp 213 billion, due to MOPU & higher jack-up’s daily rate 350 • Revenue from Inspection increased 19.3% yoy 300 • Revenue from Operation Support slightly
Slide 11: Revenue breakdown
Revenue breakdown (%) 9M07 9M06 Operation support 58.0 74.3 Inspection 7.6 8.3 Offshore 32.2 15.2 Others 2.2 2.1 9M06 9M07 11
Slide 12: Revenue by region
Revenue by region 9M07 9M06 11% 12% 26% 26% 63% 62% 12
Slide 13: Gross profit
Gross profit 9M07 9M06 % yoy Gross profit (Rp billion) Operation support 30.0 32.6 (8.0) Inspection 18.1 15.4 17.7 •• Gross Grossprofit profitincreased increased31% 31%to toRp Rp Offshore 32.3 12.8 152.2 80.7 80.7billion billionin in9M07, 9M07,contributed contributed Others 0.3 0.8 (67.8) from fromO
Slide 14: Operating Profit and Other expenses
Operating Profit • Operating profit 23% yoy to Rp 41.8 billion in 9H07 • However, operating expenses increased 40.9% yoy due to higher personnel cost • Therefore, operating margin slightly dropped to 6.3%in 9M07 from 6.7% in 9M06 • However, EBIT coverage remains high at 7.9x in 9M07 compared to 5.8x
Slide 15: Balance Sheet
Balance Sheet • Total assets increased 23% yoy to Rp 389 billion at the end 9M07 – Higher working capital and retain earnings – Proceeds from bond issuance in early 3Q07 • All the bank loan has been paid from bond proceeds • Balance sheet remains healthy with a net cash position of Rp 6.3 billion in
Slide 16: Contract update
Contract update • The company’s affiliated, PT. Santa Fe Supraco Indonesia obtained new drilling contract for its jack-up rig, Rig 136 from Asia Petroleum Development (Biliton) Limited with the total value of $22.3 million. • On October 2007, RUIS obtain contract of provisioning Heavy Equipment Oper
Slide 17: Order book (onhand contract)
Order book (onhand contract) • RUIS & subsidiaries have secured new contract of Rp 810 billion ytd. • Therefore, RUIS has outstanding order booked of Rp 1.2 Trilion as of 30 October 2007 • The order book reflects RUIS strong secure revenue and growth momentum in the future 17
Slide 18: Strategy & Projections
PT Radiant Utama Interinsco Tbk Strategy & Projections 18
Slide 19: Business strategy
Business strategy • Increase exposure in EPC business, eq. in Power Plant • Seeking new projects with characteristics as below: – Asset-based services (MOPU, FPSO, etc) – Marine services such as Crane barge for dredging services – Long-term stable income. • Widen and strengthening company’s existing
Slide 20: Growth driver
Growth driver ¾ Lots room to grow, the expenditure in O&G sector to reach US$ 10.4 bln in 2007 ¾ Confidence to win bigger projects with abundant working capital from Rp 100 billion bond issuance ¾ Acquisition a foreign inspection company to enlarge market share by entering new market and widen exist
Slide 21: Financial projections 2006-2008E
Financial projections 2006-2008E Rp billion 2005 2006 2007E 2008E CAGR (%) Income Statement Revenue 546 801 952 1,098 17% Gross Profit 64 98 111 133 16% Operating Profit 28 56 60 77 17% Net Profit 14 28 33 43 25% EPS (Rp) 36 43 56 25% DPS (Rp) - 8 17 Gross margin (%) 11.7 12.3 11.7 12.1 Operating ma
Slide 22: Financial highlights 2004-2008E
Financial highlights 2004 -2008E EBITDA Total Revenue 25 % CAGR Rp Billion 17 % CAGR Rp Billion 1,098 952 53 % CAGR 43 % CAGR 801 89 546 64 70 340 38 31 2004 2005 2006 2007E 2008E 2004 2005 2006 2007E 2008E Net Debt To Equity (%) Net Profit Rp Billion 25 % CAGR 35 43 33 33 28 21 53 % CAGR 16 12 14 1
Slide 23: Q&A
PT Radiant Utama Interinsco Tbk Q&A 23
Slide 24: Contacts
Contacts Contacts: Corporate Secretary Division Misyal A Bahwal / Coki Lubis Phone: +62 21 719 1020 Facs: +62 21 719 1003 Email: corsec@radiant.co.id Cell phone: +62 811 800 134 / +62 815 84000 121 Notes This document and verbal discussion contains forward-looking statements, concerning, among other
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