Pt Indo Tambangraya Megah Tbk · IDX:ITMG
Pt Indo Tambangraya Megah Tbk — Q1 2025 Earnings Presentation
27 slides from Pt Indo Tambangraya Megah Tbk's earnings presentation, May 16, 2025
Slide 1: Analysts Meeting 1Q25 Performance Result
Analysts Meeting 1Q25 Performance Result 16 May 2025
Slide 2: Agenda
Agenda Highlights Coal Market Trends Operational Updates Financial Updates Q&A Session
Slide 3: Disclaimer
Disclaimer The information contained in this presentation is intended solely for your reference. This presentation contains “forward-looking” statements that relate to future events, which are, by their nature, subject to significant risks and uncertainties. All statements, other than statements of
Slide 4: Highlights
Nim™ Highlights
Slide 5: ITM 1Q25 highlights
ITM 1Q25 highlights Operational Performance IMM and JBG received Green PROPER Award from Ministry of Environment Production 5.3 Mt 2% QoQ / 7% YoY IMM and JBG, subsidiaries of ITM, have been honored with the Green PROPER Award in recognition of their successful implementation of sustainable Sales 5.
Slide 6: Softening the impact of the commodity downtrend
Softening the impact of the commodity downtrend Revenue maximization • Achievement of sales volume target despite weakening demand o • Optimization of product pricing n Ro ratio za e pe tio maxi enu • Strengthen third-party coal volume bu ns and impacts st mi Rev Robust operations • Operational exce
Slide 7: Revenue maximization to drive profitability upward
Revenue maximization to drive profitability upward Increase our competitiveness through Pricing optimization initiatives third-party coal Sales volume from third-party coal can help to boost top-line Strategically focus on premium market revenue, enhance profitability, and help meet diverse to harne
Slide 8: Robust operations to reinforce the business performance
Robust operations to reinforce the business performance Supply chain optimization Solid mining operations Establish higher buffer stock level to Production volume trend safeguard against disruptions and Unit: Mt Increasing trend of the enhance blending flexibility. 20.8 - 21.9 production 20.2 16.6 1
Slide 9: Cost management to boost margin and cost effectiveness
Cost management to boost margin and cost effectiveness Minimize the impact of the external volatility and uncontrollable cost Manage Efficient fuel consumption Currency risk management uncontrollable to soften the rising of fuel to mitigate the impact of cost pressures cost. exchange rate fluctuatio
Slide 10: Opportunities in Indonesia: tailwind in the coal industry
Opportunities in Indonesia: tailwind in the coal industry Electricity output from coal The biggest coal exporter across the globe Unit: TWh 379 394 Indonesia electricity 355 304 generation from coal is still projected to grow, 13% reflecting stronger 5% coal demand. 6% 13% 2024 2025e 2026e 2027e Sou
Slide 11: Coal Market Trends
Nim (0)72 Coal Market Trends
Slide 12: Global thermal coal market
Global thermal coal market Coal demand and supply change – 2025e vs 2024 Demand trends Global markets remain volatile amid trade and geopolitical tensions; higher Unit: Mt Demand Supply tariffs weigh on industrial output and coal demand, with US policy adding further pressure. ▪ China: Lower thermal
Slide 13: ITM ASP vs thermal coal benchmark prices
ITM ASP vs thermal coal benchmark prices ITM ASP vs benchmark prices Unit: $/t ITM ASP 400 1Q25 $80.7/t (-13% QoQ/-17% YoY) 300 02 May 2025 NEX ICI 3 200 $95.1/t $62.5/t Monthly NEX $93.5/t 100 Quarterly ITM ASP $80.7/t Monthly ICI 3 $69.2/t 0 2017 2018 2019 2020 2021 2022 2023 2024 2025 13
Slide 14: ITM coal sales
ITM coal sales 1Q25 coal sales volume based on sales destination 1Q25 coal sales % 5.9Mt Thailand 2% Bangladesh 4% Others 6% Indonesia 32% (-15% QoQ/18% YoY) India 12% 1.0 Mt 1Q25 1.6 Mt sales actual 5.9 Mt 0.1 Mt Korea Japan 16% 0.6Mt 0.2 Mt Japan China 28% China Bangladesh 0.1 Mt 0.1 Mt FY25 Indic
Slide 15: Operational Updates
Nim™ Os Operational Updates
Slide 16: Coal mining operational summary
Coal mining operational summary IMM Target production Indominco Mandiri FY25 target: 7.0 Mt FY25: 20.8 – 21.9 Mt EAST 2Q25: 5.5 Mt KALIMANTAN IMM GPK GPK Graha Panca Karsa Coal production FY25 target: 2.1 Mt TCM 1Q25: 5.3 Mt 2% QoQ/ 7% YoY TIS TCM BEK Strip ratio Trubaindo Coal Mining 1Q25: 8.8x -9
Slide 17: Operational update – Indominco Mandiri
Operational update – Indominco Mandiri Quarterly production (Mt) IMM Indominco Mandiri FY25 Target: 7.0 Mt 2.0 1Q25 Actual: 1.6 Mt 1.8 1.7 1.6 1Q24 4Q24 1Q25 2Q25e SR (bcm/t) 13.8x 11.4x 12.1x 12.8x EAST KALIMANTAN ▪ 1Q25 production achieved as according to target of 1.6 Mt with strip ratio of 12.1x
Slide 18: Operational update – Trubaindo Coal Mining
Operational update – Trubaindo Coal Mining Quarterly production (Mt) TCM Trubaindo Coal Mining FY25 Target: 3.3 Mt 1Q25 Actual: 0.6 Mt 0.8 0.9 0.8 0.6 1Q24 4Q24 1Q25 2Q25e SR (bcm/t) 13.3x 11.4x 7.6x 8.9x EAST KALIMANTAN ▪ 1Q25 production was achieved as according to target of 0.6 Mt with lower stri
Slide 19: Operational update – Bharinto Ekatama
Operational update – Bharinto Ekatama Quarterly production (Mt) BEK Bharinto Ekatama 2.4 FY25 Target: 8.3 Mt 2.2 2.2 1Q25 Actual: 2.4 Mt 1.8 1Q24 4Q24 1Q25 2Q25e SR (bcm/t) 7.3x 8.0x 7.9x 8.5x EAST KALIMANTAN ▪ 1Q25 production surpassed the target at 2.4 Mt with lower strip ratio of 7.9x. ▪ 2Q25 pro
Slide 20: Operational update – other mines
Operational update – other mines Quarterly production (Mt) GPK TIS Graha Panca Karsa Tepian Indah Sukses FY25 Target: 2.1 Mt FY25 Target: 0.6 Mt NORTH 0.8 KALIMANTAN 0.7 1Q25 Actual: 0.6 Mt 1Q25 Actual: 0.1 Mt 0.6 0.2 0.1 TIS 0.1 0.5 0.6 0.6 GPK 0.03 1Q24 4Q24 1Q25 2Q25e SR (bcm/t) - 19.9x 17.9x 17.
Slide 21: Financial Updates
Nim alal Financial Updates
Slide 22: Financial performance – profitability
Financial performance – profitability INCOME STATEMENT EBITDA REVENUE Unit: $ Mn Unit: $ Mn 172 647 489 483 85 91 1Q24 4Q24 1Q25 1Q24 4Q24 1Q25 Average selling price ($/ton) 97 93 81 NET PROFIT Unit: $ Mn Gross profit ($ Mn) 119 219 135 Operating Income ($ Mn) 73 157 81 103 Gross profit margin (%) 2
Slide 23: Financial performance – cost
Financial performance – cost TOTAL COST BREAKDOWN STRIP RATIO Unit: $/ton Unit: (x) 82 67 65 10.6 10 11 11 10 9 9.7 9 Royalty 8.8 1Q24 4Q24 1Q25 71 1Q24 4Q24 1Q25 57 56 FUEL PRICE SG&A expenses Unit: $/liter D&A expenses Other production costs* 0.81 0.75 0.63 Mining cost 1Q24 4Q24 1Q25 1Q24 4Q24 1Q2
Slide 24: Financial position
Financial position BALANCE SHEET Borrowing 54 Borrowing Other Liabilities TOTAL ASSETS DEBT TO EQUITY 47 404 As of 31 March 2025 As of 31 March 2025 Other Cash Liabilities 1,063 Cash 525 $2,454Mn 0.03x 915 1Q24: $2,288Mn 1Q24: 0.03x Total CASH TO ACTUAL Equity Total 1,996 TOTAL ASSETS REALIZED CAPEX
Slide 25: Q&A Session
OS Q&A Session
Slide 26: QoQ and YoY financial performance
QoQ and YoY financial performance Unit: US$ thousand 1Q25 4Q24 QoQ (%) 1Q24 YoY(%) Net Revenues 482,516 647,321 (25%) 489,237 (1%) Gross Profit 135,350 219,308 (38%) 119,361 13% Gross Profit Margin 28% 34% 24% Selling Expenses (42,624) (47,925) (11%) (38,431) 11% General And Administration Expenses
Slide 27: ITM group structure
ITM group structure PT Indo Tambangraya Megah Tbk. INDONESIAN STOCK EXCHANGE (65% shares owned by Banpu and 35% by Public) IPO 18th Dec 2007 (Ticker: ITMG) MINING 99.99% 99.99% 99.00% 99.99% 1 70.00% 99.99% 99.99% 99.99% PT Indominco PT Trubaindo PT Bharinto PT Jorong PT Graha PT Tepian PT Nusa PT K
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