PT Mitra Pinasthika Mustika Tbk · IDX:MPMX
PT Mitra Pinasthika Mustika Tbk — FY2014 Earnings Presentation
24 slides from PT Mitra Pinasthika Mustika Tbk's earnings presentation, Mar 23, 2015
Slide 1: FY14 MPMX Analyst & Investor Presentation
PT Mitra Pinasthika Mustika Tbk FY14 MPMX ANALYST & INVESTOR PRESENTATION 23 March 2015 www.mpmgroup.co.id
Slide 2: MPM Credo: Mission, Vision and Core Values
MPM CREDO Mission To provide high quality and friendly transportation products and services that make our customers happy Vision Become a friendly household name through resourceful and passionate people led by respectable and humble leaders MPM Core Values 4. Respect & Humble 1. Passion for Excelle
Slide 3: Key Messages
KEY MESSAGES MPM Updates Leading End-to-End Consumer Automotive Company in Indonesia FY14 Business Segments Performance Solid 2W Business Despite Macro Challenges, Building 4W Business FY14 Summary +16% Revenue Growth, +2% NPAT Guarantor Growth, -7% NPATMI Growth Year-on-year 3
Slide 4: 27 Year Successful Legacy and Expertise in Automotive
27 YEAR SUCCESSFUL LEGACY AND EXPERTISE IN AUTOMOTIVE... Establishment – Pre 2012 1987 1988 1992 1994 2010 - 2011 Founded by William FKT was MPMMotor 1st Acquired initial Mulia was established; Soeryadjaya as 2W established retail outlet was shareholding in SAF, distribution business distribution bu
Slide 5: Creating an End-to-End Nationwide Ecosystem in Automotive Sector
...CREATING AN END-TO-END NATIONWIDE ECOSYSTEM SERVING VAST CONSUMERS IN AUTOMOTIVE SECTOR... DISTRIBUTION & RETAIL AUTO CONSUMER PARTS AUTO SERVICES FINANCIAL SERVICES 2W Honda distribution in 2W engine lubricant Independent 2W, 4W, E. Java + E. Nusa brand principal with 35 lease financing business
Slide 6: Market Leading Position Driving Growth
...WITH MARKET LEADING POSITION DRIVING GROWTH SCALE POSITION + GROWTH (1) #1 E. Java, 73% market share 14% 2W volume growth DISTRIBUTION & RETAIL #5 nationwide by volume 12% 2W retail volume growth 1 of 2 nationwide dealer ~1,400 unit sales year1 AUTO CONSUMER ~20% market share in 2W lube 12% reven
Slide 7: Balanced Segment Profit Contribution in the Ecosystem
BALANCED SEGMENT PROFIT CONTRIBUTION IN THE ECOSYSTEM 7% 7% 7% 7% Revenues FY13 10% Revenues FY14 +29% +16% 10% IDR 13.9T YoY IDR 16.1T YoY 76% 76% 8% 20% 7% NPATMI FY13 NPATMI FY14 43% +41% 9% -7% IDR 526B YoY IDR 487B 48% YoY NPAT: 37% - Guarantor: +2% 28% - Non-Guarantor: -56% Distribution & Reta
Slide 8: Strong Governance and Management with Active Major Shareholders
STRONG GOVERNANCE AND MANAGEMENT IN PLACE WITH ACTIVE MAJOR SHAREHOLDERS BOARD OF COMMISSIONERS BOARD OF DIRECTORS BoC brings strong mix of operational, strategy, M&A, BoD members bring over 79 years of combined and governance expertise professional experience Shareholder Composition 15.3% PT Sarato
Slide 9: September - December 2014 Key Events
SEPTEMBER - DECEMBER 2014 KEY EVENTS: DRIVING THROUGH EXCELLENCE Sep ‘14 Oct ‘14 Nov ‘14 MPMX successfully launched US$200 MPMulia received WOW Service FKT received Social Media Award million bond, 5Y tenor @6,75% Excellence Award (MarkPlus) and (Frontier) and Product Quality Award coupon rate Quali
Slide 10: MPM Has Used Up 88% of the Proceeds Raised in the IPO
MPM HAS USED UP 88% OF THE PROCEEDS RAISED IN THE IPO In IDR B (%) denotes percentage of net IPO proceeds. 270 300 MPMRent purchase FKT 17% stake acquisition new cars 20% 23% 970,000,000 shares (21.7% of enlarged TSO) 220 were offered to public market at IDR1,500 per share 1,355 MPMRent acquisition
Slide 11: Key Messages: Company Updates
KEY MESSAGES MPM Updates Leading End-to-End Consumer Automotive Company in Indonesia Company Updates FY14 Business Segments Performance Continued scale building Solid 2W Business Despiteand growth Macro across allBuilding Challenges, business4W segments Business FY14 Summary +16% Revenue Growth, +2%
Slide 12: FY14 Consolidated Revenue Results
FY14 CONSOLIDATED REVENUE RESULTS 232 183 IDR B 1,784 147 (149) 16,076 13,879 +16% Stable revenue growth in all business units FY13 FY14 % Growth from LY +15% +10% +25% +18% Distribution Auto Consumer Financial Auto Services Elimination & Retail Parts Services 12
Slide 13: FY14 Consolidated Net Profit After Tax & Minority Interests Results
FY14 CONSOLIDATED NET PROFIT AFTER TAX & MINORITY INTERESTS RESULTS IDR B 30 12 13 (8) 11 (50) (47) 526 487 FY13 -7% FY14 % Growth from LY +4% +14% -13% -34% -30% -32% Auto Distribution Auto Financial Head Minority Consumer Elimination & Retail Services Services Office Interest Parts 13
Slide 14: 2W Distribution & Retail: Continued Leadership in E. Java and NTT
2W DISTRIBUTION & RETAIL: CONTINUED LEADERSHIP IN E. JAVA AND NTT Sales Volume (000 units, YoY%) FY14 Highlights Mulia +23% +7% • Steady volume growth against LY despite business 905 972 interruption early in the year due to flood, volcanic 736 eruption and connecting bridge collapse FY12 FY13 FY14
Slide 15: 4W Dealership: Off to a Good Start
4W DEALERSHIP: OFF TO A GOOD START Sales Volume (Car Units, YoY%) FY14 Highlights Sales Performance • Sold ~1,400 units since its inception in Nov ’13 16,670 1,382 • Sales were recorded ahead of initial target i.e. Sep 14 1,382- 130 FY12 FY13 FY14 Key Milestones • Signed agreement with Nissan Motor
Slide 16: Consumer Parts: Continuing Brand Building in FKT
CONSUMER PARTS: CONTINUING BRAND BUILDING IN FKT(1) TO INCREASE PROFIT AND GROWTH Sales Volume (KL, YoY%) FY14 Highlights +8% +2% Sales Performance 62,116 • Doubled NPAT growth to 14+% w.r.t previous Y-o-Y 60,632 60,632 62,116 56,393 growth • Maintained market share at ~23% despite price increase FY
Slide 17: Auto Services: Maintain Operational Excellence in Competitive Market
AUTO SERVICES: MAINTAIN OPERATIONAL EXCELLENCE IN COMPETITIVE MARKET Fleet Size (Units, YoY%) FY14 Highlights +69% +13% • Refinanced existing bank facilities through proceeds 15,255 obtained from the bond issuance completed in Sept’14 15,255 13,502 13,502 • Re-focused strategy to more prudent growth
Slide 18: MPMFinance: Continuing Growth While Managing NPL
MPMFINANCE: CONTINUING GROWTH WHILE MANAGING NPL New Booking (IDR B, YoY%) FY14 Highlights +19% +21% • Post-merger integration still underway 4.093 2.837 3.388 • The volume booking grew by +21% in FY14 compared to the same period last year FY12 FY13 FY14 • Revenue offset by opex and increased in pro
Slide 19: MPMInsurance: Strong Growth Through Group and Non-Group Businesses
MPMINSURANCE: STRONG GROWTH THROUGH GROUP AND NON-GROUP BUSINESSES Gross Premium (IDR B, YoY%) FY14 Highlights +96% • Strong performance in FY14 with gross premium grew +1,411% 148 by ~100% and Net Profit ~200% Y-o-Y compared to FY13, with net margin almost doubling from ~6% to 76 ~10% 5 FY12 FY13 F
Slide 20: Key Messages
KEY MESSAGES MPM Updates Leading End-to-End Consumer Automotive Company in Indonesia FY14 Business Segments Performance Solid 2W Business Despite Macro Challenges, Building 4W Business FY14 Summary 1Q14 Summary & Business Segments Performance +16% Revenue Growth, +2% NPAT Guarantor Growth, -7% NPATM
Slide 21: MPM Looking to Maintain 16+% Growth
MPM LOOKING TO MAINTAIN 16+% GROWTH, CONTINUING POSITIVE TRENDS OVER THE LAST 5 YEARS Revenue (IDR Billion) NPAT (IDR Billion) 20+% CAGR 20+% CAGR 513 564 16,076 406 250 268 13,879 FY10 FY11 FY12 FY13 FY14 10,777 NPATMI (IDR Billion) 7,725 8,453 23+% CAGR 487 526 374 213 220 FY10 FY11 FY12 FY13 FY14
Slide 22: FY14 Summary
FY14 SUMMARY Key Metrics FY12 FY13 FY14 % Profit & Loss (IDR Billion) Net Revenue 10,777 13,879 16,076 16% Gross Profit 1,618 2,024 2,314 14% GP Margins 15.0% 14.6% 14.4% Operating Profit 746 901 868 -4% OP Margins 6.9% 6.5% 5.4% NPAT 406 564 513 -9% NP Margins 3.8% 4.1% 3.2% NPATMI 374 526 487 -7%
Slide 23: FY14 Summary (Continued)
FY14 SUMMARY (CONTINUED) Key Metrics FY12 FY13 FY14 % Balance Sheet (IDR Billion) Cash Consolidated 1,192 1,103 1,422 29% Cash Guarantor 1,019 848 1,107 30% ST & LT Guarantor Bank Loans 1,911 1,987 675 -66% MCNs 1,010 0 0 N/A Bonds 0 0 2,473 100% Bank Funding for Non-Guarantor 3,216 3,551 3,844 8% B
Slide 24: Disclaimer
Disclaimer • These materials have been prepared by PT Mitra Pinasthika Mustika Tbk (the “Company”, “MPM”) and have not been independently verified. No representation or warranty, expressed or implied, is made and no reliance should be placed on the accuracy, fairness or completeness of the informati
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