Slide 1: www.bayan.com.sg
www.bayan.com.sg 0
Slide 2: Overview 2Q21
Overview 2Q21 Due to 1Q21 performance, the Company issued revised guidance on 5th April 2021 to more fully reflect its expectations for the remainder of 2021. 2021 has started well and currently is forecast to be a very strong year as market prices have increased significantly and are currently
Slide 3: Bayan's Financial and Operational Performance
Bayan’s Financial and Operational Performance 2020 2Q20 2Q21 1H20 1H21 Financial Performance (In Million USD) Revenue 1,395.1 369.4 522.6 695.7 1,023.7 Gross Profit 462.9 100.4 308.6 190.7 591.7 EBITDA 356.7 71.3 273.9 138.2 528.7 Net Profit After Tax * 1 344.5 35.5 181.7 75.7 359.0 Financial Ratios
Slide 4: One of the Largest Coal Producers
One of the Largest Coal Producers 1Q21 Production Bayan is one of the top five coal producers by production volume 25 and 2nd in terms of sales volumes in 19.3 Indonesia. 20 Million Tonnes 15 12.9 Bayan’s sales volume will remain at 10 9.1 9.0 similar levels to 2020 levels until 5 4.5 4.0 the ne
Slide 5: Low Cost Incremental Growth
Low Cost Incremental Growth Capex Intensity by Country (1) Tabang Capacity Growth Construction of the new haul road 250 60+ 218 commenced in December 2019 …Unlocking tangible capacity 200 30+ upside at ~US$13/ton 207 and is progressing on schedule. 175 discretionary growth Capex 159 161 150 110 13
Slide 6: One of the Lowest Cost Producers in Indonesia
One of the Lowest Cost Producers in Indonesia Global Cost Competitive Positioning Tabang is independently rated as Q1 Q2 Q3 Q4 one of the worlds lowest cost Tabang energy-adjusted producers. Tabang has large reserves and a very low Life of Mine (LOM) stripping ratio of 3.6. Seaborne Export Suppl
Slide 7: And One of the Highest Margin Producers in Indonesia
And One of the Highest Margin Producers in Indonesia 1Q21 EBITDA Margin (%) Over the last few years Bayan has 60 50.9 transformed itself into one of the 50 highest margin producers in 40 35.3 Indonesia. 30.2 30 23.4 22.2 This is due to the ramp up of its 20 world class Tabang coal complex, 10 wh
Slide 8: Deleveraged the Group
Deleveraged the Group Net Debt / EBITDA In January 2020, the Company x issued a 3 year Non-Call Life “NCL” 8 bond of US$ 400 million to ensure 5.8x 6 adequate liquidity going forward. 4 2.6x In 2Q21 Bayan prepaid US$ 251 2 0.1x 0 0.5x 0.1x (0.4)x (0.2)x million of its bond. 0 2015 2016 2017 2018
Slide 9: 2Q 2021
2Q 2021 Overburden Removal Coal Production Weighted Average Strip Ratio Average Cash Costs Coal Sales Average Selling Price Committed & Contracted Sales EBITDA Debt and Cash Position Capital Expenditure 8 www.bayan.com.sg
Slide 10: Overburden Removal (OB)
Overburden Removal (OB) (million BCM) 40 34.0 36.1 2Q21 OB of 36.1 million BCM was 33.2 higher than the Budget and 1Q21 30 23.5 as additional equipment was utilised in Tabang, in anticipation 20 of approval of revised annual production targets. 10 0 2Q20 1Q21 2Q21B 2Q21 Note : B stands for Budget
Slide 11: Coal Production
Coal Production (million MT) 10 9.0 8.6 9.0 2Q21 coal production of 9.0 million MT was slightly higher than the 8 Budget due to additional equipment 4.8 6 being utilised at Tabang. 4 2Q21 production was in line with the 1Q21. 2 0 2Q20 1Q21 2Q21B 2Q21 Note : B stands for Budget Figure (in million
Slide 12: Weighted Average Stripping Ratio (SR)
Weighted Average Stripping Ratio (SR) 6 4.9 2Q21 weighted average stripping 5 4.0 ratio was generally in line with the 4 3.8 3.9 Budget. 3 2Q21 weighted average stripping 2 ratio was slightly higher than 1 1Q21 mainly due to: 0 2Q20 1Q21 2Q21B 2Q21 Higher SR at Tabang due to Note : B stands fo
Slide 13: Average Cash Costs (Budget vs Actual)
Average Cash Costs (Budget vs Actual) 30 27.5 26.0 25 2Q21 Cash Costs were US$ 27.5/MT which was higher than the Budget 20 due to: (US$ / MT) 15 Higher average SR. 10 5 Higher unit costs of purchased 0 coal due to higher market price. 2Q21B 2Q21 Average Cash Costs include Royalty, Barging and
Slide 14: Average Cash Costs (1Q21 vs 2Q21)
Average Cash Costs (1Q21 vs 2Q21) 40 2Q21 Cash Costs of US$ 27.5/MT were 35 30.7 higher than 1Q21 of US$ 23.3/MT due to: 30 27.5 Lower sales volumes which (US$ / MT) 23.3 25 20 effectively increased the unit costs 15 of a number of expenses. 10 Higher average SR. 5 Higher wages and salaries
Slide 15: Coal Sales (by volume)
Coal Sales (by volume) 12 (million MT) 9.8 10.6 2Q21 coal sales volumes of 9.1 10 9.1 9.0 million MT were in line with the 8 Budget. 6 4 2Q21 sales volumes less than 2 1Q21 in order to get back in line 0 with annual total sales volume 2Q20 1Q21 2Q21B 2Q21 target. Note : B stands for Budget Figur
Slide 16: Coal Sales (by volume) (continued)
Coal Sales (by volume) (continued) Geographic Distribution (1H21) – by Volume The Company is focusing on continuing to build its long term Per Region Per Country contracts to Indonesian and other Domestic Others 9% India 10% South East Asian IPP’s. 10% North Asia South Asia 34% 16% As at 30 June
Slide 17: Average Selling Price (ASP)
Average Selling Price (ASP) 60 57.6 2Q21 ASP of US$ 57.6/MT was significantly higher than the Budget 49.7 50 47.3 and 1Q21 due to market prices continuing to strengthen during the (US$ / MT) 40 37.9 2Q21. 30 Current forecast are far market prices to remain strong (and above Budgeted 20 levels) f
Slide 18: EBITDA
EBITDA 300 254.8 273.9 2Q21 EBITDA significantly 250 199.5 increased compared to the Budget 200 and 1Q21 due to higher ASP. 150 100 71.3 2Q21 EBITDA was the best quarter 50 ever in the history of Bayan. 0 2Q20 1Q21 2Q21B 2Q21 Note : B stands for Budget Figure 2Q21 EBITDA margin of 52.4% EBITDA
Slide 19: Total Debt and Cash Position
Total Debt and Cash Position Issued US$ 400 million 3NCL 700 Bonds at 6.125% coupon on 600 24 January 2020. (in million US$) 604.8 500 Bayan bought back US$ 250.9 million on 18 May 2021. 400 7.8 7.3 6.8 6.3 400.0 400.0 400.0 400.0 US$ 40 million of WCF outstanding 300 352.9 383.8 338.6 at June
Slide 20: Capital Expenditure
Capital Expenditure YTD Capex 2021 was US$ 67.6 60 55.8 million, which was below the Budget (US$ 76.6 million) due to 50 46.8 slower than Budgeted progress on the new Tabang 100km CHR and 40 barge loading facilities. In Million USD 30 27.2 We continue to expect the haul road 17.4 20.8 20.8 and b
Slide 21: Appendix
Appendix PT Perkasa Inakakerta PIK PT Teguh Sinarabadi TSA PT Firman Ketaun Perkasa FKP PT Wahana Baratama Mining WBM PT Brian Anjat Sentosa BAS PT Bara Tabang BT PT Fajar Sakti Prima FSP PT Dermaga Energi DE Tabang PT Tanur Jaya TJ PT Tiwa Abadi TA PT Silau Kencana SK PT Orkida Makmur OM Pakar PT S
Slide 22: Appendix
Appendix Kangaroo Resources Pty Ltd KRL PT Dermaga Perkasapratama DPP PT Indonesia Pratama IP PT Muji Lines Muji PT Bayan Energy BE PT Metalindo Prosestama MP PT Sumber Aset Utama SAU PT Karsa Optima Jaya KOJ PT Gunungbayan Pratamacoal GBP 21 www.bayan.com.sg
Slide 23: Disclaimer
Disclaimer This presentation contains forward-looking statements based on assumptions and forecasts made by PT. Bayan Resources Tbk management. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are base
Slide 24: Thank You
Thank You 23 www.bayan.com.sg