PT Indika Energy Tbk · IDX:INDY
PT Indika Energy Tbk — FY2016 Earnings Presentation
87 slides from PT Indika Energy Tbk's earnings presentation, Mar 24, 2017
Slide 1: Company Update FY 2016
COMPANY UPDATE FY 2016 Indika Energy March 24, 2017
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: Content
Content • 2016 Highlights 3 • 2017 Outlook 34 • Business Review - Energy Resources 38 - Energy Services 50 - Energy Infrastructure 57 • Appendix 2
Slide 4: 2016 Highlights
INDIKA ENERAY — 2016 Highlights
Slide 5: Key Assumptions vs Actual
Key Assumptions vs Actual 2016 Description Unit 1Q16 A 2Q16 A 3Q16 A 4Q16 A FY16 A Budget Average Exchange Rate USD/IDR 13,900.0 13,527.1 13,317.2 13,134.9 13,246.5 13,307.4 Average Thermal Coal Price (NC) USD/ton 53.5 52.8 51.3 67.1 95.7 67.0 KIDECO Average Selling Price USD/bn 37.1 37.9 35.4 39.0
Slide 6: Recent Developments and Dividends' Schedule
Recent Developments • MUTU stated producing coal and successfully delivered 0.1 MT in 4Q 2016. • PTRO with PT Kimco Armindo signed overburden removal mining services agreement on November 2016 for amount US$ 119.0 million for 3 years contract. • Kideco declared interim dividend of US$ 35.0 million a
Slide 7: Indika Energy's Financial Highlights (1)
Indika Energy’s Financial Highlights (1) * Revenues (USD mn) Gross Profit (USD mn) Operating Profit (USD mn) -29.4% 0.4% 1,097.3 34.4% 88.3 88.7 252.0 8.7 775.2 14.7 32.1 (15.4) (10.1) 227.0 207.5 1.7 8.4 3.5 32.7 4.0 304.0 211.1 26.8 (6.4) TPE: USD217.3 mn (9.1) PTRO: USD208.9 mn 161.6 MBSS: USD65.
Slide 8: Indika Energy's Financial Highlights (3)
Indika Energy’s Financial Highlights (3) * Cash Balance & Debt (USD mn) as of Dec 31, 2016 1) Consists of : Petrosea: USD67.8 mn, 806.0 MBSS: USD37.5 mn, Tripatra: 5) USD60.3 mn, Indika Holding: 16.6 Leases USD146.3 mn (including IIC, IIR, 118.0 ILSS and Others). 4) Bank loans 2) Other financial ass
Slide 9: Indika Energy's Financial Highlights (2)
Indika Energy’s Financial Highlights (2) * Revenues Others Others Coal trading PTRO Coal trading 8.6% 5.7% PTRO 18.8% 27.0% 24.0% MBSS 28.0% 8.2% 8.4% MBSS 43.3% 28.0% Tripatra Tripatra FY15: USD1,097.3 million FY16: USD775.2 million 8
Slide 10: Indika Energy's Financial Highlights (4) Capex Spending
Indika Energy’s Financial Highlights (4) Capex Spending * Capex 2016 B 1Q16 1H16 9M16 FY16 Realization Allocation (USD mn) Actual Actual Actual Actual IE Holding 1.4 0.0 0.0 0.0 2.1 150.0% PTRO 27.4 1.7 3.9 5.3 12.7 46.4% MBSS 6.1 1.4 3.8 4.9 6.2 101.6% Tripatra 0.0 0.0 0.0 0.0 0.7 n/a Resouces 3.3
Slide 11: Indika Energy's Key Business Indicators
Indika Energy’s Key Business Indicators Revenues (USD mn) Adj. EBITDA (USD mn) & EBITDA Margin (%) 1,109.5 1,097.3 500 60% 42.1% 44.4% 863.4 749.7 775.2 29.5% 593.4 250 20.9% 20.1% 30% 17.5% 250.0 333.0 260.6 231.9 192.0 155.7 0 0% 2011 2012 2013 2014 2015 2016 2011 2012 2013 2014 2015 2016 EBITDA E
Slide 12: Indika Energy's Key Credit Ratios (1)
Indika Energy’s Key Credit Ratios (1) Gross Debt & Net Debt / Adj. EBITDA (x) Debt / Capital (%) 5.2 52.4% 52.1% 54.0% 52.3% 5.1 50.3% 51.0% 4.9 4.1 4.3 3.8 3.1 3.2 2.4 2.5 1.8 1.9 2011 2012 2013 2014 2015 2016 2011 2012 2013 2014 2015 2016 Adj. FFO / Debt (%) Adj. FCF / Debt (%) 23.1% 19.6% 15.4% 1
Slide 13: Indika Energy's Key Credit Ratios (2)
Indika Energy’s Key Credit Ratios (2) EBITDA / Interest (x) EBIT / Interest (x) 4.4 3.6 3.8 3.4 2.7 3.0 2.2 2.7 2.6 2.0 1.2 0.8 2011 2012 2013 2014 2015 2016 2011 2012 2013 2014 2015 2016 FFO + Interest / Interest (x) EBITDA Less Capex / Interest (x) 4.2 2.3 2.5 2.2 1.9 3.1 3.4 2.8 0.8 2.6 2.6 (2.6)
Slide 14: Kideco's Financial Highlights (1)
Kideco’s Financial Highlights (1) * Revenues (USD mn) Gross Profit (USD mn) Operating Profit (USD mn) 1,658.2 -24.8 -36.0% -38.7% 374.5 281.3 1,247.8 253.6 50.6 418.3 317.5 43.3 180.0 72.7 155.4 295.6 66.1 378.1 53.5 43.9 35.9 46.5 276.5 31.3 26.0 35.3 27.6 487.3 114.1 108.4 358.2 55.3 60.0 FY15 FY1
Slide 15: Kideco's Financial Highlights (2)
Kideco’s Financial Highlights (2) * Cash Balance & Debt (USD mn) as of Dec 31, 2016 188.6 32.8 FY15 FY16 CASH * *Includes restricted time deposit 14
Slide 16: Kideco's Operating Highlights (2)
Kideco’s Operating Highlights (2) Overburden Removal Coal Production (mn ton) Stripping Ratio (x) (mn bcm) 244.6 -20.7% -17.8% 61.5 193.9 -3.6% 39.0 49.4 32.1 6.3 6.0 67.7 9.8 53.0 7.9 6.2 6.3 10.7 57.3 7.3 6.3 47.2 7.3 8.7 8.5 6.6 5.5 58.0 44.3 9.8 8.4 5.9 5.3 FY15 FY16 FY15 FY16 FY15 FY16 Coal Sal
Slide 17: Kideco's Financial Highlights (3) Capex Spending
Kideco’s Financial Highlights (3) Capex Spending * 2016 Budget 3M16 A 1H16 A 9M16 A FY16 A Capex Allocation (USD mn) (USD mn) (USD mn) (USD mn) (USD mn) % Maintenance 2.3 0.7 1.7 2.0 2.5 106.7% Equipment & others 0.5 0 0.1 0.1 0.1 20.0% Total 2.8 0.7 1.8 2.1 2.6 92.9% 16
Slide 18: Petrosea's Financial Highlights
Petrosea’s Financial Highlights * Revenues (USD mn) Gross Profit (USD mn) Operating Profit (USD mn) 1.2% 209.4 19.6% 34.9 65.3% 16.1 206.8 29.1 9.7 42.3 60.6 3.1 13.4 8.8 2.4 49.9 7.8 59.7 Mining: USD114.3 4.9 Services: USD22.7 12.7 50.1 9.6 E&C: USD72.4 46.5 7.6 4.3 4.6 64.6 8.6 0.1 42.6 4.4 (0.4)
Slide 19: Petrosea's Financial Highlights (2)
Petrosea’s Financial Highlights (2) * Revenues Breakdown by Value E&C 13.3% E&C 34.6% POSB 15.9% 54.6% Contract 70.8% Contract 10.8% POSB FY15: USD206.8 mn FY16: USD209.4 mn * Cost Structure Others Others Material Material 5.3% 4.5% 2.6% 2.9% Operation Sub-contractors 16.0% 29.5% Sub-contractors 27.
Slide 20: Petrosea's Financial Highlights (3)
Petrosea’s Financial Highlights (3) * Cash Balance & Debt (USD mn) as of Dec 31, 2016 151.5 16.3 Bank loan 16.6 Lease 67.8 1.4 * Loan from 118.6 Indika Energy** 66.4 Cash Debt * Other financial assets ** Includes accrued interest 19
Slide 21: Petrosea's Contract Mining Operation
Petrosea’s Contract Mining Operation * Overburden Removal Volume (Mn BCM) Coal Getting Volume (Mn Tonne) 66.0 -13.2% 0.7% 57.3 14.1 14.2 FY15 FY16 FY15 FY16 Client FY15 FY16 Client FY15 FY16 Adimitra Baratama* 16.2 0.0 Adimitra Baratama* 1.3 0.0 Kideco Jaya Agung 41.9 27.9 Kideco Jaya Agung 7.6 6.9
Slide 22: Tripatra's Financial Highlights
Tripatra’s Financial Highlights * Revenues (USD mn) Gross Profit (USD mn) Operating Profit (USD mn) 475.9 -54.3% 392.3% 19.2 80.3% 34.2 118.8 15.5 11.2 93.2 18.9 3.9 217.5 1.6 2.8 4.4 138.4 44.3 5.7 8.4 7.6 54.1 2.3 4.0 43.2 (0.1) (0.4) 11.0 125.6 7.9 (5.1) 75.9 (0.6) FY15 FY16 FY15 FY16 FY15 FY16 M
Slide 23: Tripatra's Financial Highlights (3)
Tripatra’s Financial Highlights (3) Cash Balance & Debt (USD mn) as of Dec 31, 2016 60.3 62.9 4.1 * 56.1 ** Cash Debt * Other financial assets ** Includes accrued interest 22
Slide 24: Tripatra's Financial Highlights (2)
Tripatra’s Financial Highlights (2) * Revenues Breakdown by Value TPE TPE 3.8% 5.4% 96.2 % 94.6 TPEC % TPEC FY15: USD475.9 mn FY16: USD217.5 mn * Cost Structure Fee Fee Misc Misc 0.9% 12.1% 3.9% 9.6% Rental & Repair Rental & Repair 7.1% 7.6% Salary 9.4% 49.7% Sub Construction 11.1% 54.4% Sub Constru
Slide 25: Tripatra's Financial Highlights (4) Cotrans Asia
Tripatra’s Financial Highlights (4) Cotrans Asia’s Operation * Revenues (USD mn) Gross Profit (USD mn) Operating Profit (USD mn) 80.4 -25.7% 18.0 59.7 -53.2% -55.2% 21.8 14.7 27.9 27.1 14.3 18.8 13.1 12.1 2.7 2.3 14.2 3.3 3.2 3.5 3.2 5.9 5.7 4.8 20.9 5.0 16.7 2.9 5.1 2.6 5.2 1.5 1.7 FY15 FY16 FY15 F
Slide 26: Tripatra's Financial Highlights (5) Sea Bridge Shipping
Tripatra’s Financial Highlights (5) Sea Bridge Shipping’s Operation * Revenues (USD mn) Gross Profit (USD mn) Operating Profit (USD mn) -16.0% -17.7% 29.4 24.7 -15.7% 8.2 14.0 5.3 11.5 3.9 12.7 7.9 5.0 2.3 10.7 1.6 3.6 3.8 2.1 5.8 5.9 2.0 1.4 1.8 3.5 1.8 1.5 7.5 8.5 4.5 5.6 5.4 4.1 FY15 FY16 FY15 FY
Slide 27: MBSS' Financial Highlights (1)
MBSS’ Financial Highlights (1) * Revenues (USD mn) Gross Profit (USD mn) Operating Profit (USD mn) 89.8 -26.7% -93.8% -465.5% 18.2 65.8 15.1 2.9 18.5 1.4 15.7 4.8 7.7 (10.6) 26.8 16.9 5.9 0.9 (2.2) 0.2 14.7 (3.7) 8.2 0.8 (5.5) (1.8) Barges: US$47.7mn 3.0 26.2 FC: US$18.1mn (2.2) (1.0) 18.3 (1.9) (10
Slide 28: MBSS' Financial Highlights (2)
MBSS’ Financial Highlights (2) * Revenues Breakdown Floating crane 27.5% 36.0% Floating crane 64.0% 72.5% Barging Barging FY15: USD89.8 mn FY16: USD65.8 mn * Cost Structure Others Others 18.4% Depreciation 20.2% Vessel Rental 34.2% Depreciation 4.5% Vessel Rental 38.4% 2.1% Consumable 5.6% Consumabl
Slide 29: MBSS' Financial Highlights (3)
MBSS’ Financial Highlights (3) * Cash Balance & Debt (USD mn) as of Dec 31, 2016 52.3 33.7 Cash Debt * * Includes accrued interest 28
Slide 30: MBSS' Operating Highlights
MBSS’ Operating Highlights * Barging (mn ton) Floating Crane (mn ton) -0.5% 22.2 22.1 -19.4% 16.0 12.9 FY15 FY16 FY15 FY16 Clients FY15 FY16 Clients FY15 FY16 KPC 0.5 0.2 KJA 6.7 4.9 ADRO 5.2 4.6 BRAU 6.6 5.0 BCS 2.2 1.9 BCS 1.5 2.1 Cotrans 10.1 9.9 Others - spot 1.2 0.9 MMS 0.9 1.2 Total Volume 16.
Slide 31: Cirebon Electric Power's Financial Highlights
Cirebon Electric Power’s Financial Highlights * Revenues (USD mn) Gross Profit (USD mn) Operating Profit (USD mn) -12.3% -10.7% 261.9 -10.5% 109.9 104.2 229.6 98.4 93.0 68.7 37.6 29.8 12.0 27.8 10.3 66.7 63.1 28.7 27.6 27.3 26.1 66.2 64.5 29.1 27.8 27.7 26.2 60.4 63.9 25.2 28.6 24.0 27.2 FY15 FY16 F
Slide 32: Coal price remains weak
Coal price remains weak 150 USD/ton 125 Per Dec’16 101.7 100 98.5 As of 30 Dec’16 75 50 25 2010 Average 2011 Average 2012 Average 2013 Average 2014 Average 2015 Average 2016 Average USD 99.2/ton USD 121.3/ton USD 97.7/ton USD 84.9/ton USD70.4/ton USD58.0/ton USD67.0/ton USD 91.7/ton USD 118.4/ton US
Slide 33: Thermal Coal Price vs. Crude Oil Price
Thermal Coal Price vs. Crude Oil Price USD/ton USD/barrel 140 As of 30 Dec’16 98.5 70 53.7 As of 30 Dec’16 2010 Average 2011 Average 2012 Average 2013 Average 2014 Average 2015 Average 2016 Average USD 99.2/ton USD 121.3/ton USD 97.7/ton USD 84.9/ton USD70.36/ton USD58.0/ton USD67.0/ton USD 79.7/ltr
Slide 34: Content
Content • 2016 Highlights 3 • 2017 Outlook 34 • Business Review - Energy Resources 38 - Energy Services 50 - Energy Infrastructure 57 • Appendix 33
Slide 35: 2017 Outlook
INDIKA ENERAY — 2017 Outlook
Slide 36: Key Assumptions 2017 (1)
Key Assumptions 2017 (1) Descriptions Unit 2017 B Exchange Rate Average USD/IDR 13,300.0 Thermal Coal Price (NC) USD/ton 70.0 Average KIDECO Overburden Volume Bcm 192.0 Production Volume Mt 32.0 Strip ratio x 6.0 Capex USD mn 2.8 PTRO Overburden Volume BCM 110.4 Backlog (Beg of 2017) USD mn 819.0 Ca
Slide 37: Capex Spending 2017 Budget
Indika Energy’s Financial Highlights (4) Capex Spending * Capex 2017 B Kideco Capex Allocation (USD mn) 2017 B IE Holding 0.6 Capex Allocation (USD mn) PTRO 68.3 Maintenance 0.7 MBSS 11.5 Equipment & others 2.1 Tripatra 0.0 Total 2.8 ILSS 0.0 MUTU 7.7 Resources 0.0 Total 88.1 36
Slide 38: Content
Content • 2016 Highlights 3 • 2017 Outlook 34 • Business Review - Energy Resources 38 - Energy Services 50 - Energy Infrastructure 57 • Appendix 37
Slide 39: Energy Resources
ENERGY RESOURCES Kideco Jaya Agung Santan Batubara Multi Tambangjaya Utama 38
Slide 40: Indika Energy's Coal Reserves and Resources
Indika Energy’s Coal Reserves and Resources (Mn ton) Production Coal Assets Reserves Resources 2012 2013 2014 2015 2016 Kideco 422.0 1,375.00 34.2 37.3 40.3 39.0 32.1 Santan 100.7 754.5 2.6 1.8 0.4 n/a n/a MUTU 30.9 48.2 n/a n/a n/a n/a 0.1 Total 553.6 2,177.7 36.8 39.1 40.7 39.0 32.2 JORC Standard
Slide 41: Kideco Jaya Agung
Kideco Jaya Agung Indika Energy owns 46% of Kideco, the third-largest coal producer in Indonesia with 50,400 Ha concession in East Kalimantan Kideco engages in surface open-cut mining since 1993 First-generation Coal Contract of Work valid through 2023 JORC resources as of June 2015 at 1,375mt and r
Slide 42: Indika Energy and Samtan are equal partners in the Kideco joint venture
Indika Energy and Samtan are equal partners in the Kideco joint venture PT Muji Inti Utama 46% 49% 5% Shareholding • Indonesian expertise and local • Leading Korean energy company • Indonesian coal producer access • 45 years of mining experience • A customer of Indika Role • Business opportunities v
Slide 43: Kideco's Abundant Reserves and Resources
Kideco’s Abundant Reserves and Resources Reserves* Area Calorific Value (kcal)** Proved Probable Total (mn ton) Roto South 4,890.0 43.0 19.0 62.0 Roto North 5,630.0 - 9.0 9.0 Roto Middle 4,820.0 14.0 8.0 22.0 Susubang 5,110.0 1.0 3.0 4.0 Samarangau 4,390.0 96.0 221.0 317.0 Roto South G. 4,860.0 0.0
Slide 44: Well developed infrastructure with end-to-end control of mining process
Well developed infrastructure with end-to-end control of mining process… Overburden Removal Process Barging and Shipping Production of “Run of Mine” (58km) 1 (ROM) Coal 6 2 • Capable of loading a number of vessels simultaneously Total Distance: 99 – 107km Stockpiling at TMCT Crushing (3-11km) Exclus
Slide 45: Supported with reputation as the most reliable supplier
…supported with reputation as the most reliable supplier Unmatched Track Record of Production Achievement (mn ton) 40.3 37.3 40.0 40.0 39.0 34.2 37.0 34.0 29.1 31.0 31.5 32.0 32.1 29.0 24.0 24.8 20.6 22.0 22.0 18.2 18.9 16.9 14.0 10.3 11.5 8.5 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2
Slide 46: One of the lowest cost coal producers in Indonesia
One of the lowest cost coal producers in Indonesia Cash Cost Component USD Cash Cost / ton Labor & Labor & Overhead other other Overhead FY15 Freight Freight USD34.6 incl. royalty 0.9% 5.6% 2.7% 5.9% 5.6% 6.3% USD29.6 excl. royalty Material Material 10.1% 7.2% FY16 14.4% 14.1% 63.4% Contract 63.9% C
Slide 47: Kideco Operational Performance
Kideco Operational Performance Mn ton/BCM 300.0 10.0 257.4 241.1 244.6 239.4 219.0 200.0 193.9 7.0 7.0 6.5 6.4 6.3 6.0 5.0 100.0 37.3 40.3 39.0 31.5 34.2 32.1 - - 2011 2012 2013 2014 2015 2016 Overburden Stripping Ratio Coal Production 46
Slide 48: Kideco Sales by Destination
Kideco Sales by Destination Strong presence in traditional & new market and strong customer based – mostly power plant FY15 – Total Sales Volume: 38.6mn tons FY16 – Total Sales Volume: 32.5mn ton Taiwan Others Taiwan Thailand Others Thailand 4.3% 3.1% 3.9% 3.0% 3.1% 3.1% Japan Japan 4.2% Indonesia 4
Slide 49: Santan Batubara
Santan Batubara Petrosea owns 50% of Santan, the third-generation Coal Contract of Work with 24,930 Ha concession in East Kalimantan and valid through 2038 Petrosea engages coal mining services and Harum Energy who owns other 50% stake in Santan, engages coal marketing services Santan engages in sur
Slide 50: Multi Tambangjaya Utama
Multi Tambangjaya Utama MUTU is a bituminous thermal and coking coal producer based in Central Kalimantan, holding a third generation CCOW expiring in 2039. 63km Mine is located about 30km northeast of Ampah City and about 250km north of Banjarmasin, the capital of South Kalimantan. Hauling road : 6
Slide 51: Energy Services
ENERGY SERVICES Tripatra & Subsidiaries Petrosea 50
Slide 52: Tripatra has 40 years track record in the energy services
Tripatra has 40 years track record in the energy services • Established in 1973 • Multi-discipline engineering / EPC and project capabilities • Well-established track record with highly rated multinational companies • Long-term relationships with key customers including Chevron, Exxon Mobil and HESS
Slide 53: Tripatra's subsidiaries
Tripatra’s subsidiaries • Establish in June 2004, Tripatra has 45% equity • Establish in October 2008 Started (commercial interest in Cotrans operation in March 2009), Tripatra has 46% equity interest in Sea Bridge Shipping (SBS) • Cotrans provides offshore coal transportation and transshipment serv
Slide 54: Tripatra's Backlog in 2016
Tripatra’s Backlog in 2016 USD mn New Contract/ Remaining Revenue Remaining Adjustment Value Contract Value Recognition Contract Value Descriptions in 2016 Per Period ended Per Dec 31, 2015 Dec 31, 2016 Dec 31, 2016 Tripatra Engineers & 167.7 803.1 209.2 761.6 Constructors Tripatra Engineering 12.3
Slide 55: Petrosea
Petrosea • Petrosea is a multi-disciplinary engineering, construction and mining company with a track record of achievement in Indonesia since 1972 • Today, Petrosea is recognised as one of Indonesia's leading engineering and construction contractors • Petrosea’s strategy is to be an Indonesian mini
Slide 56: Petrosea's Backlog in 2016
Petrosea’s Backlog in 2016 USD mn New Contract/ Remaining Revenue Remaining Adjustment Value in Contract Value 2016 Recognition Contract Value Descriptions Per Period ended Per Dec 31, 2015 Dec 31, 2016 Dec 31, 2016 Contract mining 436.7 336.2 114.3 658.6 E&C 170.2 2.6 72.4 100.5 POSB 72.9 9.7 22.7
Slide 57: Petrosea Offshore Supply Base
Petrosea Offshore Supply Base FACILITIES: • Quay (inner : 4-6 meters & outer 5-8 meters water depth) • Storage: • Undercover (13,500 square meters) & Open (80,000 square meters) • Oil (4,000 cubic meters) & diesel (3,000 cubic meters) • Barite silos (8,000 cubic feet) & cement silos (5,000 cubic fee
Slide 58: Energy Infrastructure
ENERGY INFRASTRUCTURE Mitrabahtera Segara Sejati Cirebon Electric Power 57
Slide 59: Mitrabahtera Segara Sejati
Mitrabahtera Segara Sejati MBSS is an integrated coal transport and logistics (one-stop-solution) service company incorporated in 1994. Since 1998 MBSS has shown its commitment to customers by being the first company in Indonesia to sign a contract with a dispatch and demurrage provision clause, thu
Slide 60: MBSS' Backlog in 2016
MBSS’ Backlog in 2016 USD mn Remaining New Contract/ Revenue Remaining Contract Adjustment Recognition Contract Value Value in 2016 Value Clients Per Period ended Per 31 Dec 2015 Dec 31, 2016 Dec 31, 2016 Barging 102.2 (27.4) 47.7 27.1 Floating Crane 87.2 (19.7) 18.1 49.4 Total 189.4 (47.1) 65.8 76.
Slide 61: Large Fleet of Vessels
Large Fleet of Vessels As of Additional up to 31 Dec 2015 31 Dec 2016 Barges Tug Floating Crane 76 -1 87 -1 6 0 Total 75 Total 86 Total 6 Cement Vessel Support Vessel 1 -1 1 0 Total 0 Total 1 60
Slide 62: Cirebon Electric Power (1)
Cirebon Electric Power (1) Location Cirebon, Java Capacity 1x660MW Shareholding Marubeni Corp.: 32.5% KOMIPO Co.: 27.5% Samtan Co.: 20.0% Indika Energy: 20.0% Off-taker PLN Power Purchase Agreement 30 Years Tariff USD0.0443/kwh* Commercial Operation Date 27 July 2012 Sources of Coal Kideco : 1.85 mn
Slide 63: Cirebon Electric Power (2)
Cirebon Electric Power (2) CEP Performance in FY2016 Availability Factor • Projected Availability Factor (AFpm) = 80% • Actual Availability Factor (billing/AFa) = 81.05% • Actual Availability Factor (Operational/AFa) = 89.72% Production • Energy Generated Gross 4,815,268 MWh • Electric Energy Export
Slide 64: Cirebon Electric Power (3)
Cirebon Electric Power (3) Cirebon Power Expansion, 1 x 1,000 MW Coal Fired Power Plant • On October 23, 2015, CEPR (PT Cirebon Energi Prasarana), in which Indika has a 25% stake through PEC (PT Prasarana Energi Cirebon), signed a 25-year Power Purchase Agreement (PPA) with PT PLN (Persero). • Proje
Slide 65: Content
Content • 2016 Highlights 3 • 2017 Outlook 35 • Business Review - Energy Resources 39 - Energy Services 51 - Energy Infrastructure 58 • Appendix 64
Slide 66: Appendix
~ INDIKA ENERAY — Appendix 65
Slide 67: Kideco's Financial and Operating Highlights (1)
Kideco’s Financial and Operating Highlights (1) Descriptions 2016 (unaudited) 2016 2015 2014 (USD mn) 3M 6M 9M audited audited audited Sales 358.2 634.7 930.4 1,247.8 1,658.2 2,059.4 Gross profit 60.0 95.3 126.5 180.0 281.3 328.3 Operating profit 55.3 82.9 108.9 155.4 253.6 295.6 Net income 30.7 45.
Slide 68: Kideco's Financial and Operating Highlights (2)
Kideco’s Financial and Operating Highlights (2) Descriptions 2016 (unaudited) 2016 2015 2014 (USD mn) 3M 6M 9M audited audited audited Cash balance 152.9 110.4 96.7 32.8 188.6 107.3 Current assets 398.4 348.6 320.5 273.9 400.5 396.0 Total assets 554.2 499.7 465.7 445.3 582.8 602.4 Current liabilitie
Slide 69: Petrosea's Financial Highlights (1)
Petrosea’s Financial Highlights (1) Descriptions 2016 unaudited 2016 2015 2014 (in USD mn) 3M 6M 9M audited audited audited Total revenues 42.6 89.1 148.8 206.8 206.8 348.0 Mining 20.4 41.5 76.9 146.3 146.3 294.2 Services 6.7 12.7 17.9 32.9 32.9 35.6 E&C, Others 15.6 34.9 54.0 27.5 27.5 18.2 Gross p
Slide 70: Petrosea's Financial Highlights (2)
Petrosea’s Financial Highlights (2) Descriptions 2016 unaudited 2016 2015 2014 (in USD mn) 3M 6M 9M unaudited audited audited Cash balance* 72.2 67.5 65.7 67.8 55.0 66.7 Current assets 139.8 136.9 142.9 147.7 141.2 175.5 Total assets 417.3 403.1 400.5 393.4 425.4 467.7 Current liabilities 84.3 74.2
Slide 71: MBSS' Financial Highlights (1)
MBSS’ Financial Highlights (1) Descriptions 2016 unaudited 2016 2015 2014 (USD mn) 3M 6M 9M audited audited audited Total revenues 18.3 33.1 50.0 65.8 89.8 135.3 Tug & Barge 12.2 22.3 35.6 47.7 57.4 94.3 Transshipment 6.1 10.8 14.4 18.1 32.3 41.0 Gross profit 3.0 2.0 2.9 0.9 15.1 43.4 Selling and ge
Slide 72: MBSS' Financial Highlights (2)
MBSS’ Financial Highlights (2) Descriptions 2016 unaudited 2016 2015 2014 (USD mn) 3M 6M 9M audited audited audited Cash balance* 36.9 30.5 32.5 33.7 41.7 48.1 Current assets 78.8 71.3 71.9 56.4 81.5 95.4 Total assets 300.4 291.7 290.2 260.5 307.8 351.6 Current liabilities 37.3 37.9 43.9 43.2 39.0 3
Slide 73: Tripatra's Financial Highlights (1)
Tripatra’s Financial Highlights (1) Descriptions 2016 unaudited 2016 2015 2014 (in USD mn) 3M16 6M16 9M16 audited audited audited Total revenues 75.9 119.1 173.2 217.5 475.9 418.6 Gross profit 7.9 10.3 18.6 34.2 18.9 39.4 General and administrative expenses 3.9 6.6 10.6 14.9 15.0 14.6 Operating prof
Slide 74: Tripatra's Financial Highlights (2)
Tripatra’s Financial Highlights (2) Descriptions 2016 unaudited 2016 2015 2014 (in USD mn) 3M16 6M16 9M16 audited audited audited Cash balance* 72.0 67.6 37.5 60.3 39.9 60.7 Current assets 345.3 279.4 260.4 254.2 354.1 248.1 Total assets 384.7 322.5 314.9 307.4 398.6 318.4 Current liabilities 243.0
Slide 75: CEP Financial Highlights (1)
CEP’ Financial Highlights (1) Descriptions 2016 (unaudited) 2016 2015 2014 (USD mn) 3M 6M 9M audited audited audited Sales 63.9 128.4 191.5 229.6 261.9 254.1 Gross profit 28.6 57.7 86.4 98.4 109.9 90.7 Operating profit 27.2 55.1 82.7 93.0 104.2 84.1 Net income 11.1 23.0 99.2 99.2 38.9 22.5 EBITDA 28
Slide 76: CEP Financial Highlights (2)
CEP’ Financial Highlights (2) Descriptions 2016 (unaudited) 2016 2015 2014 (USD mn) 3M 6M 9M audited audited audited Cash balance 81.9 72.4 27.6 55.5 68.6 44.3 Current assets 153.9 833.5 799.1 144.0 180.4 161.1 Total assets 869.8 853.9 821.5 854.7 875.9 893.3 Current liabilities 32.1 22.8 36.3 96.3
Slide 77: Indika Energy's Financial Highlights (1)
Indika Energy’s Financial Highlights (1) Descriptions 2016 unaudited 2016 2015 2014 (in USD mn) 3M 6M 9M audited audited audited Total revenues 195.1 356.3 567.7 775.2 1,097.3 1,109.5 Tripatra 75.7 118.8 172.9 217.3 475.1 417.7 Petrosea 42.2 88.6 148.4 208.9 206.8 347.9 MBSS 18.3 33.1 49.9 65.3 89.8
Slide 78: Indika Energy's Financial Highlights (2)
Indika Energy’s Financial Highlights (2) Descriptions 2016 unaudited 2016 2015 2014 (in USD mn) 3M 6M 9M audited audited audited Cash balance* 396.4 348.8 314.0 311.9 339.4 411.1 Current assets 887.1 756.3 746.6 667.4 827.3 831.4 Total assets 2,133.5 1,989.4 1,976.5 1,822.3 2,150.4 2,290.3 Current l
Slide 79: Fast facts
~ INDIKA ENERAY — Fast facts 78
Slide 80: Indika Energy, Indonesia's leading fully integrated energy company
Indika Energy, Indonesia’s leading fully integrated energy company PT Indika Energy Tbk. 1 Energy Resources 2 Energy Services 3 Energy Infrastructure - 3rd largest coal producer - Transshipment and water transportation, - Resources 1,375.0 MT, reserves 422.0 MT - Established since 1973 75 tugs
Slide 81: A well-integrated energy platform across the entire value chain
Indika Energy Group companies cover end-to-end coal business value chain Identification / acquisition Energy resources of assets • Operational synergies from intra- Exploration group cross-selling opportunities A well-integrated energy platform across the entire value chain - part of Kideco's overbu
Slide 82: Corporate Structure
Corporate Structure 13 April 2016 PT Indika Energy Tbk. (Indonesia) 100% 90% 100% 100% 100% 69.80% 100% 100% 100% PT Indika Multi PT Indika Indonesia PT Indika Inti PT Tripatra PT Indika PT Indy Properti 10 % PT Tripatra PT Indika Energy Indika Power Energi Resources Corpindo Engineers and PT Petros
Slide 83: Notes Outstanding
Notes Outstanding Caa1 Negative Outlook (as of April 2016) The Senior Notes are rated: CCC International Ratings (as of June 2016) Indo Energy Finance B.V. Indo Energy Finance II B.V. USD171.4 mn* USD500.0 mn 7.00% 7-year Senior Notes 6.375% 10-year Senior Notes Reg S / 144A Reg S / 144A due 2018 du
Slide 84: INDY shareholding structure
INDY shareholding structure PT Indika Mitra Individual Founders Public Energi (less than 5% each) 63.47%* 29.01% 7.52% PT Indika Energy Tbk. (INDY) listed in the Indonesia Stock Exchange on June 11, 2008 Number of shares: 5,210,192,000 Part of IDX’s LQ 45 Index and MSCI Indonesia Index Market Cap. a
Slide 85: PTRO shareholding structure
PTRO shareholding structure PT Indika Energy Public Tbk. 69.8%* 30.2% PT Petrosea Tbk. (PTRO) listed in the Indonesia Stock Exchange on May 21, 1990 Number of shares: 1,008,605,000** Market Cap. as of Dec 31, 2016 – IDR 0.7 trillion (USD 53.9million)*** * Since February 09, 2012 (Indika Energy compl
Slide 86: MBSS shareholding structure
MBSS shareholding structure PT Indika Energy Public Infrastructure 51.0%* 49.0% PT Mitrabahtera Segara Sejati Tbk. (MBSS) listed in the Indonesia Stock Exchange on April 06, 2011 Number of shares: 1,750,026,639 Market Cap. as of Dec 31, 2016 – IDR 0.6 trillion (USD 41.3 million)** * Since May 4, 201
Slide 87: Thank You
THANK YOU PT Indika Energy Tbk. Graha Mitra Jl. Jend. Gatot Subroto Kav. 21 Jakarta 12930, Indonesia + 62 21 2557 9888 www.indikaenergy.co.id Investor.relations@indikaenergy.co.id