Pt Rmk Energy Tbk · IDX:RMKE
Pt Rmk Energy Tbk — H1 2023 Earnings Presentation
35 slides from Pt Rmk Energy Tbk's earnings presentation, May 17, 2024
Slide 1: Analyst Meeting First Half 2023 Result Announcement
ANALYST MEETING FIRST HALF 2023 RESULT ANNOUNCEMENT Sustainable Operations to Support Global Energy Security Operasi Berkelanjutan untuk Menopang Ketahanan Energi Global
Slide 2: Disclaimer
DISCLAIMER This presentation material was prepared by PT RMK Energy Tbk. (“RMKE”/“Company”) and has not been independently verified. No representation or warranty, express or implied, is made and no reliance is made on the accuracy or completeness of the information presented or contained in this pre
Slide 3: Chapter 1: Company Profile
RMKE CHAPTER 1 COMPANY PROFILE
Slide 4: Share Performance
SHARE PERFORMANCE SHARES OWNERSHIP Investor % RMK Investama 76.8 RMKE Management 3.2 Local Institution 3.5 Foreign Institution 1.5 Local Retail 14.6 Foreign Retail 0.5 Total 100.00 FREE FLOAT Investor % Local Institution 17.3 Foreign Institution 7.3 Local Retail 73.1 Foreign Retail 2.3 Total 100.00
Slide 5: Why Invest in RMKE
WHY INVEST in RMKE STRATEGIC ASSETS LOCATION 01 Located in a strategic area and the pioneer in South 06 SUSTAINABLE PROFITABILITY Gross profit margin 42.0% from coal services** Sumatera INTEGRATED COAL LOGISTICS SERVICE 02 The only private coal logistics providers integrated with 07 SOLID BALANCE SHE
Slide 6: Management Team
MANAGEMENT TEAM VINCENT SAPUTRA TONY SAPUTRA WILLIAM SAPUTRA Finance Director President Director Operational Director 6
Slide 7: Chapter: Strategy & Target
RMKE CHAPTER 2 STRATEGY & TARGET
Slide 8: Corporate Outlook & Strategy
CORPORATE OUTLOOK & STRATEGY STRATEGY INDICATOR 2022* 2023** 2024** 2025** 2026** 2027** in million MT in million MT in million MT in million MT in million MT in million MT Coal services Coal services Coal services Coal services Coal services Coal services Operational Loading barge 7.8 Loading barge
Slide 9: First Half 2023 Performance Highlight
FIRST HALF 2023 PERFORMANCE HIGHLIGHT SUSTAINABLE SOLID IMPROVING STRONG PROFITABILITY BALANCE SHEET CASH FLOW OPERATIONS Operating revenue increased by Equity increased by 16.5% YoY to Operating cash flow increased Coal services 19.7%YoY to IDR1.3 trillion IDR1.4T by 158.0% YoY to IDR92.3B Unloading
Slide 10: Our Targets Achievement
OUR TARGETS ACHIEVEMENT 2023 6M 2023 Achievement No a b b/a Indicator Unit Target Actual % Unloading train mio MT 12.4 6.3 51.1 Service Loading barge mio MT 10.8 4.3 39.5 1 Operational Coal Sales In-house & third parties mio MT 2.8 1.1 40.1 Overburden removal mio Bcm 6.9 1.4 20.4 In-house TBBE Coal
Slide 11: Chapter: Operational Performance
CHAPTER 3 OPERATIONAL PERFORMANCE 11
Slide 12: Coal Sales Segment
COAL SALES SEGMENT YTD6M 2023 Coal sales volume: 11.9% YoY Average selling price: (16.1%) YoY 0.8 0.9 0.8 0.7 0.7 1.0 1.1 0.7 0.7 0.4 2Q 2022 1Q 2023 2Q 2023 6M 2022 6M 2023 Coal sales (million MT) Average selling price (million IDR) in million MT The operational performance from coal sales segment
Slide 13: In-House Coal Production
IN-HOUSE COAL PRODUCTION YTD6M 2023: OB removal: 56.6% YoY Coal getting : 45.7% YoY 1.4 0.9 0.9 0.5 0.5 0.7 0.3 0.4 0.5 0.3 2Q 2022 1Q 2023 2Q 2023 6M 2022 6M 2023 Coal getting (million MT) OB removal (Bcm) in million MT The increase in coal sales volume came from the growth in in-house production,
Slide 14: Coal Services Segment – Unloading Train
COAL SERVICES SEGMENT – UNLOADING TRAIN YTD6M 2023: 23.0% YoY 6.3 5.1 3.1 3.2 2.7 2Q 2022 1Q 2023 2Q 2023 6M 2022 6M 2023 in million MT The Company has achieved 51.1% of of this year target. 14
Slide 15: Coal Services Segment – Loading Barge
COAL SERVICES SEGMENT – LOADING BARGE YTD6M 2023: +35.6% YoY 4.3 3.1 2.3 2.0 1.7 2Q 2022 1Q 2023 2Q 2023 6M 2022 6M 2023 in million MT The Company has achieved 39.5% of of this year target. 15
Slide 16: Operational Efficiency Indicator
OPERATIONAL EFFICIENCY INDICATOR 6M 2022 6M 2023 Efficiency Train unloading time (hour) 04:05 03:23 (00:42) Fuel ratio 6M 2022 6M 2023 Efficiency (MT/liter)* 0.96 0.88 (0.08) * per MT loading barge 16
Slide 17: Chapter: Financial Performance
CHAPTER 4 FINANCIAL PERFORMANCE 17
Slide 18: Operating Revenue Grows Due to Increasing Volume
OPERATING REVENUE GROWS DUE TO INCREASING VOLUME Operating Revenue Coal Sales Segment Coal Services Segment YTD6M 2023: YTD6M 2023: YTD6M 2023: 19.7% YoY 0.0% YoY 99.7% YoY 1,282.6 1,071.7 860.3 860.4 422.2 211.4 6M 2022 6M 2023 6M 2022 6M 2023 6M 2022 6M 2023 in billion IDR in billion IDR Operating
Slide 19: All Segments Contribute to Higher Gross Profit
ALL SEGMENTS CONTRIBUTE TO HIGHER GROSS PROFIT Gross Profit Coal Sales Segment Coal Services Segment YTD6M 2023: YTD6M 2023: YTD6M 2023: 28.5% YoY (32.4%) YoY 236.8% YoY 42.0% 21.7% 23.3% 24.9% 20.9% 14.1% 289.9 232.6 180.0 177.2 121.7 52.6 6M 2022 6M 2023 6M 2022 6M 2023 6M 2022 6M 2023 Gross profit
Slide 20: Optimizing Costs to Boost Profitability
OPTIMIZING COSTS TO BOOST PROFITABILITY Net Profit YTD6M 2023: 28.8% YoY 15.5% 14.4% Net profit has improved due to: 199.2 The bigger profit margin from the services segment improved the 154.7 Company's financial performance by posting a consolidated net profit of IDR 199.2 billion or an increase of 28.8
Slide 21: Solid Balance Sheet Meets Credit Covenants
SOLID BALANCE SHEET MEETS CREDIT COVENANTS Asset Liability Equity 2Q 2023: 2Q 2023: 2Q 2023: 11.3% YoY (1.9%) YoY 16.5% YoY 29.1 2.7 0.4 0.3 2.3 14.3 1.9 1.4 1.7 1.2 0.5 0.5 4Q 2022 2Q 2023 4Q 2022 2Q 2023 4Q 2022 2Q 2023 Total asset Total liability Equity Current ratio (min 1 time) EBITDA ratio (mi
Slide 22: Managing Healthy Cash Flow
MANAGING HEALTHY CASH FLOW Cash Flow from Operating Cash Flow from Investing Cash Flow from Financing YTD6M 2023: 158.0% YoY YTD6M 2023: 122.2% YoY YTD6M 2023: (245.2%) YoY 92.3 35.8 (33.7) (116.3) (25.9) (57.5) 6M 2022 6M 2023 6M 2022 6M 2023 6M 2022 6M 2023 Cash from operating activities increased
Slide 23: Appendix
RMKE CHAPTER 5 APPENDIX
Slide 24: Operating Revenue Grows Due to Increasing Volume
OPERATING REVENUE GROWS DUE TO INCREASING VOLUME Operating Revenue Coal Sales Segment Coal Services Segment YTD6M 2023: YTD6M 2023: YTD6M 2023: 19.7% YoY 0.0% YoY 99.7% YoY 1,282.6 1,071.7 761.9 860.3 860.4 658.2 520.7 550.5 545.7 422.2 314.7 211.4 107.7 216.2 206.0 2Q 2022 1Q 2023 2Q 2023 6M 2022 6
Slide 25: Cost of Revenues Contribution
COST OF REVENUES CONTRIBUTION Coal Sales Segment Coal Services Segment 2.2% 100% 100% 8.7% 3.7% 5.6% 12.4% 20.0% 14.8% 65.4% 18.3% 23.7% 25.2% Purchases Coal Transport Royalty Others Rent Repair and Fuel Salary Depreciat Others production ation maintenance and ion allowance The cost of revenues from
Slide 26: All Segments Contribute to Higher Gross Profit
ALL SEGMENTS CONTRIBUTE TO HIGHER GROSS PROFIT Gross Profit Coal Sales Segment Coal Services Segment YTD6M 2023: YTD6M 2023: YTD6M 2023: 28.5% YoY (32.4%) YoY 236.8% YoY 33.3% 25.1% 42.9% 41.0% 42.0% 24.3% 23.3% 27.9% 28.2% 21.7% 20.9% 17.0% 24.9% 14.1% 10.7% 298.9 232.6 164.9 185.4 173.3 153.4 180.0
Slide 27: Optimizing Costs to Boost Profitability
OPTIMIZING COSTS TO BOOST PROFITABILITY Net Profit YTD6M 2023: 28.8% YoY 24.9% Net profit has improved due to: 17.6% 16.9% 15.5% The bigger profit margin from the services segment improved the 14.4% Company's financial performance by posting a consolidated net profit of IDR 199.2 billion or an increase o
Slide 28: Solid Balance Sheet Meets Credit Covenants
SOLID BALANCE SHEET MEETS CREDIT COVENANTS Asset Liability Equity 2Q 2023: 2Q 2023: 2Q 2023: 11.3% YoY (1.9%) YoY 16.5% YoY 2.7 29.1 2.3 2.2 0.4 0.4 0.3 14.3 15.6 1.7 1.9 1.9 1.3 1.4 1.2 0.5 0.6 0.5 4Q 2022 1Q 2023 2Q 2023 4Q 2022 1Q 2023 2Q 2023 4Q 2022 1Q 2023 2Q 2023 Total asset Total liabilities
Slide 29: Managing Healthy Cash Flow
MANAGING HEALTHY CASH FLOW Cash Flow from Operating Cash Flow from Investing Cash Flow from Financing YTD6M 2023: 158.0% YoY YTD6M 2023: 122.2% YoY YTD6M 2023: (245.2%) YoY 32.1 114.2 92.3 (3.0) (33.7) (7.5) 71.9 (72.4) (116.3) (25.9) (161.9) 35.8 20.4 (52.4) (57.5) 2Q 2022 1Q 2023 2Q 2023 6M 2022 6
Slide 30: Consolidated Operational Performance
CONSOLIDATED OPERATIONAL PERFORMANCE ( in metric ton, except stated otherwise) INDICATOR 2Q 2022 1Q 2023 2Q 2023 Chg (%) 6M 2022 6M 2023 Chg (%) COAL SALES Coal sales 681,029.7 719,284.6 402,451.3 (40.9) 1,002,703.4 1,121,735.9 11.9 Average selling price 804,280.6 759,929.5 650,621.8 (19.1) 853,267.
Slide 31: Consolidated Statements of Profit (Loss)
CONSOLIDATED STATEMENTS OF PROFIT (LOSS) (currency in billion IDR, except stated otherwise) INDICATOR 2Q 2022 1Q 2023 2Q 2023 Chg (%) 6M 2022 6M 2023 Chg (%) REVENUES Coal Sales 550.5 545.7 314.7 (42.8) 860.3 860.4 0.0 Services 107.7 216.2 206.0 91.3 211.4 422.2 99.7 Total Operating Revenues 658.2 7
Slide 32: Consolidated Statements of Financial Position
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (currency in billion IDR, except stated otherwise) INDICATOR 4Q 2022 1Q 2023 2Q 2023 Chg (%) ASSETS Current Assets 780.0 950.3 944.3 21.1 Non Current Assets 896.8 941.7 922.8 2.9 Total Asset 1,676.8 1,892.0 1,867.1 11.3 LIABILITIES Current Liabilities 33
Slide 33: RMKE Meets the Minimum Requirements of Credit Covenant
RMKE MEETS THE MINIMUM REQUIREMENTS OF CREDIT COVENANT (currency in billion IDR, except stated otherwise) INDICATOR 4Q 2022 1Q 2023 2Q 2023 Chg (%) FINANCIAL DEBT Short Term Debt Short Term Bank Loans Current Maturity Long Term Liabilities 2.3 79.2 56.2 0.0 2,385.4 68.6% Bank Loan 106.8 109.4 78.8 (
Slide 34: Consolidated Statements of Cash Flow
CONSOLIDATED STATEMENTS OF CASH FLOW (currency in billion IDR, except stated otherwise) INDICATOR 2Q 2022 1Q 2023 2Q 2023 Chg (%) 6M 2022 6M 2023 Chg (%) CASH FLOW Cash Flows From Operating 114.2 20.4 71.9 (37.1) 35.8 92.3 158.0 Cash Flows From Investing Activities (7.5) (52.4) (3.0) (59.8) (25.9) (
Slide 35: Thank You
Thank You RMKE Investor & Public Relations rmkenergy.com PT RMK Energy Tbk rmke.official Wisma RMK Lantai 2 Jalan Puri Kencana Blok M4/1 Jakarta Barat, DKI Jakarta 11610 PT RMK Energy Tbk (021) 582 2555