PT Indika Energy Tbk · IDX:INDY
PT Indika Energy Tbk — 9M14 Earnings Presentation
15 slides from PT Indika Energy Tbk's earnings presentation, November 2014
Slide 1: PT Indika Energy Tbk. Company Update 9M14
PT Indika Energy Tbk. Company Update 9M14
Slide 2: Disclaimer
Disclaimer Investors and security holders are cautioned that this communication contains forward-looking statements and that forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict and are generally beyond the control of PT Indika Energy Tbk.
Slide 3: Recent Regulatory and Macro Developments
RECENT REGULATORY AND MACRO DEVT’S 1. Export License now in effect. • A number of small to medium sized suppliers have yet to secure their export license. 2. China tax restriction, tariff hikes on imported coal will not impact Indo coal (ASEAN Free Trade Pact). 3. FY14 total coal production still in
Slide 4: Thermal Coal Price vs. Crude Oil Price
Thermal Coal Price vs. Crude Oil Price 200 USD/ton USD/barrel 150 Nov 7’ 14 Newcastle Coal Price 100 78.7 WTI Crude Oil Price 62.3 Nov 14’ 14 50 2010 2011 2012 2013 2014 0 Source: Platts & U.S. Energy Information Administration 4
Slide 5: 9M14 Performance
9M14 PERFORMANCE 2014 9M14 Assumptions Kideco Average Selling Price (ASP) USD51.8/ton USD52.6/ton Production Volume 40 mn tons 30.1 mn tons Strip Ratio (SR) 6.8 X 6.5 X Cash Cost excl. Royalty USD38.9/ton USD36.7/ton Capex USD21.3 mn USD2.8 mn Production Volume 0.8 mn tons n/a MUTU Strip Ratio (SR)
Slide 6: Capex Breakdown
CAPEX BREAKDOWN 2014 9M14 % Allocation Revised Realization Realization USD mn USD mn Petrosea* 45.0 30.3 67.3 MBSS 10.0 3.7 37.0 Tripatra 3.8 1.6 42.1 MUTU** 13.2 2.9 22.0 Resources 1.6 0.6 37.5 Office Building 25.0 11.2 44.8 Holding & incubating unit 3.0 0.7 23.3 Total 101.6 51.00 50.2 Note: * Will
Slide 7: Indika's 9M14 Financial Highlights
Indika’s 9M14 Financial Highlights Revenues (USD mn) Gross Profit (USD mn) Operating Profit (USD mn) * 900 150 35 26 675 100 18 450 TPE : USD284.6 138.0 785.3 PTRO : USD264.6 127.6 28.3 25.0 634.2 MBSS : USD103.2 50 Coal trading: USD84.0 9 225 KPI : USD47.5 Others : USD1.5 0 0 0 9M13 9M14 9M13 9M14
Slide 8: Indika's 9M14 Cash Balance & Debt
Indika’s 9M14 Cash Balance & Debt (USD mn) 1,100 983.4 62.8 825 121.0 Lease 4) Bank loan 550 413.4 1) 800.0 77.3 2) 275 3) Bond 336.1 0 Cash Balance Debt Note : 1) Consists of: Petrosea: USD61.6 mn, MBSS: USD46.0 mn, Tripatra: USD109.0 mn & Indika: USD196.8 mn (including IIC, IIR and Others). 2) Oth
Slide 9: Kideco's 9M14 Operating Highlights
Kideco’s 9M14 Operating Highlights Overburden Removal (mn bcm) Coal Production (mn ton) Stripping Ratio (X) 30 200 8 24 150 6 18 100 30.0 196.0 27.9 4 177.9 12 6.4 6.5 50 6 2 0 0 9M13 9M14 0 9M13 9M14 9M13 9M14 Coal Sales (mn ton) Average Selling Price (USD/ton) Cash Cost Excl. Royalty (USD/ton) 32
Slide 10: Kideco's 9M14 Financial Highlights
Kideco’s 9M14 Financial Highlights Revenue (USD mn) Gross Profit (USD mn) Operating Profit (USD mn) 420 400 1,750 1,400 315 300 1,050 210 406.6 200 1643.3 384.4 1564.9 700 250.6 228.1 105 100 350 0 0 0 9M13 9M14 9M13 9M14 9M13 9M14 Margin 24.7% 16.0% Margin 23.4% 14.6% EBITDA (USD mn) Net Profit (US
Slide 11: Kideco's 9M14 Balance Sheet Summary
Kideco’s 9M14 Balance Sheet Summary Description 9M14 9M13 2013 2012 2011 (in USD mn) unaudited unaudited audited audited audited Current assets 559.7 593.9 457.6 523.7 604.0 Total assets 746.5 802.2 686.6 745.1 817.7 Current liabilities 361.1 357.2 272.0 312.1 316.5 Debt 0.0 0.0 0.0 0.0 7.3 Total eq
Slide 12: Key Business Indicators
Key Business Indicators Revenue (USD mn) Adj. EBITDA (USD mn) & EBITDA Margin (%) 700 60% 863.4 785.3 600 749.7 50% 634.2 500 593.4 40% 400 333.0 30% 300 250.0 260.6 260.1 235.8 20% 200 100 10% 0 0% 2011 2012 2013 9M13 9M14 2011 2012 2013 9M13 9M14 EBITDA EBITDA Margin Adj. EBIT (USD mn) & EBIT Marg
Slide 13: Key Credit Ratios (1)
Key Credit Ratios (1) Gross Debt & Net Debt / Adj. EBITDA (x) Net Debt / Equity (%) 59.0% 4.76 4.08 4.09 55.4% 3.76 3.12 52.4% 2.43 2.34 51.3% 2.25 50.3% 1.76 1.87 2011 2012 2013 9M13 9M14 2011 2012 2013 9M13 9M14 Gross Debt Net Debt Adj. FFO / Debt (%) Adj. FCF / Debt (%) 23.1% 20.8% 19.3% 16.9% 14
Slide 14: Key Credit Ratios (2)
Key Credit Ratios (2) Adj. EBITDA / Interest* (x) Adj. EBIT / Interest* (x) 3.60 4.44 2.66 3.35 2.90 2.73 2.87 1.97 1.27 1.16 2011 2012 2013 9M13 9M14 2011 2012 2013 9M13 9M14 Adj. FFO + Interest / Interest (x) Adj. EBITDA Less Capex / Interest* (x) 2.47 2.26 1.91 4.19 0.82 3.13 2.72 2.58 2.52 (2.64
Slide 15: Thank you
Thank you PT Indika Energy Tbk. Mitra Building Jl. Jend. Gatot Subroto Kav. 21 Jakarta 12930 - Indonesia (6221) 2557-9888 www.indikaenergy.co.id investor.relations@indikaenergy.co.id 15