Pt Bukit Asam (persero) Tbk · IDX:PTBA
Pt Bukit Asam (persero) Tbk — H1 2014 Earnings Presentation
24 slides from Pt Bukit Asam (persero) Tbk's earnings presentation, August 2014
Slide 1: 1H14 Financial Results
1H14 FINANCIAL RESULTS PT Bukit Asam (Persero) Tbk Our Vision: “An Environmentally Conscious World Class Energy Company” www.ptba.co.id Reuters: PTBA.JK Bloomberg: PTBA IJ Exchange: JKT Ticker: PTBA AUGUST 2014
Slide 2: Contents
Contents 1. Introduction 2. Operational Review 3. Commercial Review 4. Financial Review 5. Project Development Appendices 01
Slide 3: Introduction: Company's Key Milestones
Introduction Company’s Key Milestones Indonesia’s Oldest and Most Experienced Coal Producer PN TABA was converted PTBA was publicly listed into a limited corporation on the Jakarta Stock and its name changed to Exchange with 35% of PT Tambang Batubara shares held by the public. During the Dutch colo
Slide 4: Operational Highlights
Operational Review Operational Highlights 24.7 Revenue (IDR Trillion) Net Profit (IDR Trillion) Railway Capacity (Mn ton) Sales Volume (Mn ton) 17.9 3.08 17.8 2.9 2.7 15.3 11.6 11.2 2.01 12.8 12.9 13.5 10.6 1.8 12.5 11.5 11.9 9.0 7.9 10.8 10.5 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 2009 2
Slide 5: Operations Location
Operational Review Operations Location Mining Business License (IUP) Total Resources 7.29 billion tons Tanjung Enim Mine 66,414 Ha Total Mineable Reserves 1.99 billion tons Ombilin Mine 2,950 Ha Peranap Mine 18,230 Ha PERANAP MINE Recources : 0.79 billion tons IPC Mine 3,238 Ha Mineable : 0.37 billi
Slide 6: Resources & Reserves
Operational Review Resources & Reserves 0.20 bn tons 0.06 bn tons 3.51 bn tons 0.68 bn tons 3.58 bn tons 1.25 bn tons Parameter BITUMINOUS SUB BITUMINOUS LIGNITE TM (% ar) < 18 18 ‐30 > 35 CV (KCal/Kg adb) > 6,400 4,900 – 6,400 < 4,900 (KCal/Kg ar) 5,800 – 7,950 4,400 – 5,800 < 4,400 05
Slide 7: Global Coal Review
Commercial Review Global Coal Review Pacific Basin Seaborne Thermal Coal Import Demand Thermal Seaborne Export by Country (Mt) by Country and Rank (Mt) Source: Wood Mackenzie Coal Market Service, November 2013 Source: Wood Mackenzie Coal Market Service, November 2013 Atlantic Basin Seaborne Thermal
Slide 8: National Coal Review
Commercial Review Indonesian Domestic Demand Vs Exports (Mt) National Coal Review National Energy Mix Planning (%) Source: Wood Mackenzie Coal Market Service, November 2013 Source: Ministry of Energy and Mineral Resources, 2013 Coal Consumption Guidance for Electricity Fuel Mix 2005‐2021 : For Power
Slide 9: Costs & Prices
Financial Review Costs & Prices Total Cash Cost (FOB) 1H14 Total Cost Breakdown Coal Purchase Administration & Gen Sales Exp 3% Exp 3% Others 1H13 1H14 YoY Rental of heavy Electricity 3% 1% Tanjung Enim System *) equipments Fuel 0% 4% Raillway service 2% Ex Royalty (IDR) 488,129 535,017 110% Depreci
Slide 10: Coal Brand & Sales Breakdown
Financial Review Type Of Coal Brand Coal Brand & Sales Breakdown CV TM IM Ash VM FC TS max 1H14 Sales Breakdown by country Coal Brand HGI Kcal/Kg,adb Kcal/Kg,ar %,ar %,adb %,adb %,adb %,adb %,adb Sri Lanka Domestic IPC 53 5,300 ‐ 34 15 8 39 40 0.5 ‐ Vietnam 1% 50% 5% BA 55 5,500 4,550 30 15 8 39 38
Slide 11: Financial Ratios
Financial Review Financial Ratios GROSS PROFIT MARGIN (%) OPERATING PROFIT MARGIN (%) NET PROFIT MARGIN (%) 33 33 22 18 19 16 1H13 1H14 1H13 1H14 1H13 1H14 54.1 39.7 50 34.6 48.9 35 30.5 44 29.1 31 29 46.2 25.4 23.7 25 31 19 16 2% 11% 15% 8% 12% 30% 1% 15% 28% 20% 11% 39% 12% 29% 18% 14% 14% 36% 200
Slide 12: PTBA Versus Global & Local Peers
Financial Review PTBA Versus Global & Local Peers GROSS_MARGIN OPER_MARGIN NET_MARGIN 33 22 18 17.98 9.76 6.5 YZC ACI BYAN BTU BUMI ITMG HRUM BRAU ADRO PTBA AVERAGE Source: Bloomberg, 18 July 2014 YZC : Yanzhou Coal Mining – USA ( YZC) ITMG : PT Indo Tambangraya Megah – IDX ACI : Arch Coal Inc. – US
Slide 13: Summary Financial Performance
Financial Review Summary Financial Performance (IDR bn) FY13 1H13 1H14 YoY Sales 11.209 5.433 6.427 118% COGS 7.745 3.662 4.307 118% EBITDA 2.530 1.212 1.639 135% Net Income 1.826 870 1.156 133% Assets 11.677 10.454 12.098 116% Cash 3.343 3.301 3.223 98% Net Margin 16% 16% 18% 113% Return On Asset 1
Slide 14: Infrastructures Expansion
Infrastructures Expansion Double Tracks Single Track with Crossing Sections Tanjung Enim Mine with the installed production capacity of 25 Mtpa Kertapati Palembang Barging Port TANJUNG ENIM MINE Muara Enim Lahat Prabumulih Railway (Upgraded) - Capacity : up to 22.7 M tpa - TE – Kertapati : 160.9 Km
Slide 15: Power Plants Projects
Power Plants Projects 800-1200MW Power Plant - Location : Peranap Riau - Coal Cons. : 8.4 M tpa - COD : 2018 3x600MW Sumsel 9&10 PP - Location : Muara Enim - Coal Cons. : 8.4 M tpa - COD : 2018 2x110MW Power Plant - Location : Banjarsari - Coal Cons. : 1.4 M tpa - COD : 2014 2x620MW Power Plant - Lo
Slide 16: Production Infrastructure & CBM Projects
Project Development Production Infrastructure & CBM Projects Project Status Upgraded Existing • Tanjung Enim – Tarahan Port (410km), TE – Kertapati Port (161km) Railway Line • 100% owned by State Railway Company, PT KAI • Capacity of 22.7Mtpa (2015 – 2029) • Currently, it has a total of 3,071 wagons
Slide 17: Power Generation Projects
Project Development Power Generation Projects The Plant Status 2x100MW Banjarsari Power • PTBA (59.75%), PJB (29.15%), NII (11.10) Plant • Investment of USD320 Mn • Coal Consumption: 1.4 M tpa • Estimated Commercial Date: 4Q14 2x620MW Banko Tengah • PTBA (45%), China Huadian Hong Kong Company Ltd (5
Slide 18: Long Term Domestic Commitment
Long Term Domestic Committment Supporting National Energy Policy Having A Total Long Term Coal Supply with: Committed Volume o National Power Company\PLN (2010 – 2030) : 262 Mt o Indonesia Power (2013 – 2022) : 52 Mt o Huadian Bukit Asam Power\Power Plant (25 Years) : 150 Mt o Bukit Pembangkit Inn
Slide 19: The New Look of Tarahan Port in 4Q 2014
Appendix The New Look of Tarahan Port in 4Q 2014 Note: TOTAL STOCKPILE will be 860,000 tons Stockpile 1 = 60,000 tons Stockpile 4a = 150,000 tons Stockpile 2 = 250,000 tons Stockpile 4b = 150,000 tons Stockpile 3 = 250,000 tons 18
Slide 20: PTBA Structure
Appendix PTBA Structure PTBA operates a fully integrated The Indonesian large coal mining in Tanjung Enim ( South Sumatera), Ombilin (West PTBA Government owns 65% of Total Shares Sumatera), Peranap (Riau), and East Kalimantan with Total Resources & Reserves are 7.29 billion tons and The Subsidiarie
Slide 21: Shareholders Information
Appendix The Top Twenty Public Shareholders of PTBA as of 22 July 2014 Shareholders Information No Shareholders\Investors % 1 TAMBANG BATU BARA BUKIT ASAM (PERSERO), Tbk PT 5.64% 2 BPJS Ketenagakerjaan‐JHT 2.32% 3 PT Taspen (Persero) ‐ THT 1.54% 4 BBH BOSTON S/A VANGRD EMG MKTS STK INFD 0.72% Share
Slide 22: Appendix: Production, Sales and Index Movement
Appendix PTBA Production Vs Sales 2002 - 2013 Index Movement Dec’02 – July’14 17.8 5500 27500 5000 25000 15.3 15.1 4500 22500 13.4 13.9 4000 20000 12.9 12.7 12.9 3500 17500 12.4 12.5 11.6 3000 15000 10.0 10.8 10.8 9.5 9.9 9.9 2500 12500 9.5 9.8 9.6 9.5 9.2 9.2 2000 10000 9.1 1500 7500 1000 5000 500
Slide 23: Projected Sales Volume to 2017
Appendix Projected Sales Volume to 2017 In Million Ton 44.0 34.0 31.0 25.0 17.8 15.3 12.4 12.9 13.4 2009(A) 2010(A) 2011(A) 2012 (A) 2013(A) 2014(F) 2015(F) 2016(F) 2017(F) TE System Production Total Sales Railways Transportation Source: The Company’s Business Plan 2014 22
Slide 24: Disclaimer
Disclaimer: This presentation contains forward-looking statements based on assumptions and forecasts made by PT Bukit Asam (Persero) Tbk management. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are
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