Pt Perusahaan Gas Negara (persero) Tbk Class B · IDX:PGAS
Pt Perusahaan Gas Negara (persero) Tbk Class B — PT Perusahaan Gas Negara — Investor Presentation (November 2018)
30 slides from Pt Perusahaan Gas Negara (persero) Tbk Class B's investor presentation, November 2018
Slide 1: Business Update and Prospect
BUSINESS UPDATE AND PROSPECT As of November 2018 PT Perusahaan Gas Negara Tbk www.pgn.co.id
Slide 2: Disclaimer
2 DISCLAIMER The information contained in our presentation is intended solely for your personal reference. In addition, such information contains projections and forward-looking statements that reflect the Company’s current views with respect to future events and financial performance. These views a
Slide 3: Company Introduction
THE 3 Company Introduction REPUBLIC OF INDONESIA 100% 1 SERIE A PUBLIC VISION Becoming the International Standardized Solution for the 56.96% 43.04% Utilization of Gas and the Sustaining Energy Fulfilment MISSION We are committed to: Group Structure PT PGAS ▪ Provide and develop gas utilization for
Slide 4: Business Coverage & Infrastructures
4 Business Coverage & Infrastructures ▪ Operating in 3 Major Coverage Area, 39 cities and regencies (12 provinces) in Indonesia Tarakan Downstream Business ▪ Transporting and Distributing Gas ±1,566 MMSCFD Sorong 1 ▪ Developing ±7,517 km length pipeline 2 Gas Infrastructure network, 2 unit FSRU, 12
Slide 5: Upstream Assets
5 Upstream Assets Sanga Sanga PSC International Asset • Location: onshore Kutei basin Fasken • Participating Interest: 37.8125% • Joint Operatorship: VICO (Joint PGN • Location: Webb County, Texas Saka & ENI) • Participating Interest : 36% Bangkanai PSC Muara Bakau PSC Pekawai PSC • Partner: CPC (20
Slide 6: 9M-2018 Highlights
6 Stronger Distribution Volume by 11% (YoY) 9M-2018 Highlights Increasing Revenue, EBITDA & Net Income Consolidated Statement of Comprehensive Income 3.000 2.445 9M-2017 Stable Margin (within Guideline) 2.165 Million USD 2.000 1.760 9M-2018 1.605 1.000 684 701 D O W N S T R E A M U P S T R E A M 560
Slide 7: Financial Performance
7 Strong Cash Balance Positive cash-flow Maintaining DER stable (less than 1) Financial Performance 30 September 30 September Financial Ratios 2018 2017 Total Loan USD 2.48 Billion EBITDA Margin (%) 28.7 29.2 Weighted Average Interest Rate 4.36% EBITDA / Interest Expense (x) 7.33 5.91 (Excl. Tax) De
Slide 8: Distribution Volume
8 Contribution - Distribution Year-on-Year Basis 900 865 +11% Growth In Gas Sales Distribution Volume 849 850 824 802 803 800 750 772 767 • High power consumption by 21% (MMscfd) 700 • Sustainable industry recovery by 4% 650 • Natural gas more competitive against all oil 600 550 products 500 2013 20
Slide 9: Transmission Volume Contribution
9 Contribution – Operated by PGN Downstream Transmission ▪ Total Length: ±1,077km (incl. SSWJ) ▪ Off-taker: PLN, BBG ▪ Volume 25 MMScfd 900 854 852 Tr a n s m i s s i o n V o l u m e Operated by TGI ▪ Total Length: ± 1,000 km 850 800 789 795 Year-on-Year Basis Lower -3% ▪ Off-taker: CPI, Gas Supply
Slide 10: Contribution - Upstream
10 Contribution - Upstream Higher Substantial LNG increase from Muara Bakau Lifting Continuous lower Pangkah production due to facility repair Expiry of Sanga-Sanga PSC in August 2018 & SES PSC in September 2018 Volume Oil and Gas Lifting Crude Oil & Condensate (MMBBL) Gas (BBTU) LNG (BBTU) 2017-9M
Slide 11: Contribution - Others
11 Contribution - Others +13% USD 53 Million USD 60 Million 6 M - 2 0 1 8 7% 31% 14% Maintaining positive revenue 6 M - 2 0 1 7 contribution from subsidiaries 17% Finance Lease represents KJG’s interest in relation to finance lease under the gas transportation agreement between KJG, PLN and PC Muria
Slide 12: Infrastructure & Market Development
12 Infrastructure & Market Development Customer Attachment RD III Potential of 2 MMscfd ▪ Market development by construction Plan of operation: 2018 of distribution backbone ▪ Delivering gas to RD by developing pipeline or modifying system in station ▪ Customer attachment to build acccess Tarakan un
Slide 13: 2018 Targets – Guidelines for Investors
2018 Targets – Guidelines for Investors 13 Organic PGAS only & Subject to Change Distribution Volume Transmission Volume To ta l C A P E X 775 MMSCFD 665 MMSCFD USD 400 Million Margin/Spread Gagas KJG PGN USD 2.2 – 2.5/MMBTU RD 3 Downstream 40% Upstream Realized Oil Price USD 67/barrel 60% RD 2 RD 1
Slide 14: Government Regulations
Government Regulations 14 Weighted Average of End User = 𝐶𝑜𝑠𝑡 𝑜𝑓 𝐺𝑎𝑠 + 𝐼𝑛𝑓𝑟𝑎𝑠𝑡𝑟𝑢𝑐𝑡𝑢𝑟𝑒 𝑀𝑎𝑛𝑎𝑔𝑒𝑚𝑒𝑛𝑡 𝐶𝑜𝑠𝑡 + 𝑇𝑟𝑎𝑑𝑖𝑛𝑔 𝐶𝑜𝑠𝑡 DOWNSTREAM Households & Small Costumers PIPELINE GAS PRICE (stipulated by Regulatory Body) Infrastructure Infrastructure Management…
Slide 15: Gas Sub Holding Business Scope
15 Recent Event - Oil & Gas Holding Integration Target Pertagas into PGN 29 June 2018 30 Nov 2018 31 Dec 2018 H o l d i n g Valuation of Pertagas Valuation of Pertagas Corporate Signing of CSPA 28 Nov 2017 Actions Deal Closing CSPA Amendment 25 Jan 2018 26 Apr 2018 Ministry of SOEs Changes of Shareh
Slide 16: Post Integration: Existing Facilities and Coverage Areas
16 Po st I nte g rat i o n : E x i s t i n g Fa c i l i t i e s a n d C o v e r a g e A r e a s ▪ Total gas pipeline network of 9,677 km covering 14 provinces and 55 regencies ▪ 2 FSRUs + 1 Land-based Receiving Terminal ▪ 12 Gas Fueling Stations Major transmission pipelines ▪ 4 MRUs 1 Grissik – Duri
Slide 17: How PGAS as Sub Holding Gas will grow in the next 4-5 years
17 H o w P G A S a s S u b H o l d i n g G a s w i l l g ro w i n t h e n ex t 4 - 5 ye a rs Business inside Pertamina Group: Optimization of the • Upstream: Crude Oil, existing infrastructures Trading/Export/Domestic Refineries, LNG Plant, Production Alignment of business, Facilities pricing, m
Slide 18: Strategic Plans: Synergy Initiatives until 2022
18 S t rate g i c P l a n s : S y n e r g y I n i t i a t i v e s t o b e e xe c u t e d u n t i l 2 0 2 2 Operating Income (Preliminary Stage, subject to change) (in USD Mio) 140 Additional Annual EBIT Contribution (in USD Mio) By Year 2022 Add. Ops. Income of ~$133M R Business Alignment & Optimiza
Slide 19: Mid Term Outlook: Promising Future of Gas Business
19 M i d Te r m O u t l o o k : P r o m i s i n g F u t u r e o f G a s B u s i n e s s Operating Income (Preliminary Stage, subject to change) HIGHLIGHTS: (in USD Mio) ✓ PGAS Operating Income to approach ~ USD 800 Mio level in 4 years 1.000 ✓ This indicates avg. Operating income 900 growth (y.o.y)
Slide 20: Subsidiaries & Affiliates
1 20 Subsidiaries & Affiliates 6 * Notes: *Pending Completion of the conditional requirement CSPA signed on 29 June 2018
Slide 21: Subsidiary – Saka Energi Indonesia
Subsidiary – Saka Energi Indonesia 21 Type Private Founded 27 June 2011 Headquarter Jakarta CEO Tumbur Parlindungan Industry Oil & Gas Upstream Subsidiaries 25 Total Assets USD 2.6 Billion (2017) No. Employees 302 (2017) Website www.sakaenergi.com *Notes: 2. Muara Bakau block starts producing 4. For
Slide 22: Subsidiary PGN LNG Indonesia
22 Subsidiary LNG Volume 9M-2018 3 BBTud PGN LNG Indonesia Type Private Founded 26 June 2012 Headquarter Jakarta CEO Mugiono Industry LNG Regasification Subsidiaries - Total Assets USD 415 Million (2017) No. Employees 48 (2017) Website www.pgnlng.co.id
Slide 23: Subsidiary – Gagas Energi Indonesia
Subsidiary – Gagas Energi Indonesia 23 BUSINESS UPDATES SPBG Batam SPBG Klender 9M-2018 VOLUME Gas Distribution Pekanbaru SPBG 6 MMSCFD Lampung SPBG Cilegon Regional I : 10 SPBG & 3 MRU SPBG Ancol Regional II : 1 SPBG & 1 MRU MRU Regional III : 1 SPBG & 1 Gas Distribution Network Monas SPBG PGN Plui
Slide 24: Subsidiary – PT Pertamina Gas
24 Subsidiary – PT Pertamina Gas* * CSPA Amendment on 30 Nov 2018 with target completion on 31 December 2018 Business Model Gas Supply Business End Customer Gas Gas Transportation Transportation Major Shippers: Type Private PEP; Perusahaan Listrik Negara (“PLN”); Pertamina Group Kangean Energy Indon
Slide 25: Subsidiary – Transportasi Gas Indonesia (TGI)
25 Subsidiary – Transportasi Gas Indonesia (TGI) Type Private Founded 1 February 2002 Headquarter Jakarta CEO Zuryati Simbolon Industry Gas Transportation Subsidiaries - Total Assets USD 550 Million (2017) No. Employees 285 (2017) Website www.tgi.co.id Grissik – Duri Grissik – Singapore Pipeline Pip
Slide 26: Joint Venture – Nusantara Regas
Joint Venture – Nusantara Regas 26 LNG Volume 9M-2018 Operating FSRU Nusantara Regas Satu located in Jakarta Bay as the 234 BBTud first LNG Receiving Terminal in Indonesia Type Private • Regasification capacity : 500 MMscfd. Founded 14 April 2010 • LNG Suppliers : Mahakam PSC and Tangguh PSC • Offta
Slide 27: Subsidiary – PGAS Solution
Subsidiary – PGAS Solution 27 Type Private Founded 6 August 2009 Headquarter Jakarta CEO Chaedar Industry Engineering Subsidiaries 1 (PT Solusi Energi Nusantara/SENA) Total Assets USD 113 Million (2017) No. Employees 325 (2017) Website www.pgn-solution.co.id Line of Business Engineering Trading EPC
Slide 28: Subsidiary – PGAS Telecommunication
28 Subsidiary – PGAS Telecommunication Type Private Founded 10 January 2007 Headquarter Jakarta CEO Dwika Agustianto Industry Information & Communication Technology Subsidiaries 2 ▪ PGAS International Pte, Ltd (PTI) Provide solution of different path traffic to ▪ PT Telemedia Dinamika Sarana (TDS) S
Slide 29: Subsidiary – Permata Graha Nusantara
29 Subsidiary – Permata Graha Nusantara Office & gas Creating Developing Real Estate Facility Management Asset Management station added value gas based Type Private support, on PGN’s industrial & Founded 24 April 2014 warehouse & property commercial Headquarter Jakarta building assets estates and De
Slide 30: Investor Relations Contact
Investor Relations Contact: PT Perusahaan Gas Negara Tbk Mid Tower Manhattan 26th Floor Jl. TB Simatupang Kav. 1-S, Jakarta, Indonesia Email: investor.relations@pgn.co.id Phone: +62 21 8064 1111
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