PT Indika Energy Tbk · IDX:INDY
PT Indika Energy Tbk — 1H10 Earnings Presentation
92 slides from PT Indika Energy Tbk's earnings presentation, Oct 4, 2010
Slide 1: PT Indika Energy Tbk. Company Update
PT Indika Energy Tbk. Company Update 04 October 2010
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: Table of Contents
Table of Contents ● 1H10 Review 4 ● Focus in 2010 13 ● Business Overview 25 – Energy Resource 26 – Energy Services 48 – Energy Infrastructure 72 ● Appendix – Fast Facts 78 – 1H10 Financial Highlights 85 3
Slide 4: 1H10 Review
INDIKA 1H10 Review
Slide 5: 1H10 Indika's Performance YoY (1)
1H10 Indika’s Performance YoY (1) Rp 1,776.5 bn Rp 353.3 bn Revenue Gross Profit +116.7% +232.1% Rp 815.2 bn Rp 106.4 bn 5
Slide 6: 1H10 Indika's Performance YoY (2)
1H10 Indika’s Performance YoY (2) Rp 4.1 bn Rp 1,443.8 bn Operating Adjusted Profit EBITDA* +111.3% +24.0% (Rp 36.2 bn) Rp 1,164.3 bn * inc luding dividends from Associates 6
Slide 7: 1H10 Indika's Performance YoY (3)
1H10 Indika’s Performance YoY (3) Rp 530.9 bn Rp 467.1 bn Profit Net Profit Before Tax +28.1% +22.3% Rp 434.0 bn Rp 364.6 bn 7
Slide 8: 1H10 Kideco's Performance YoY (1)
1H10 Kideco’s Performance YoY (1) US$ 770.2 mn US$ 155.2 mn Revenue Net Profit +22.2% -0.8% US$ 630.0 mn US$ 156.5 mn 8
Slide 9: 1H10 Kideco's Performance YoY (2)
1H10 Kideco’s Performance YoY (2) 14.21 mn tons 14.49 mn tons 6.04 X Coal Coal Stripping Production Sales Ratio +24.2% +21.2% -3.0% 11.44 mn tons 11.96 mn tons 6.23 X 9
Slide 10: Kideco's Operating Highlights
Kideco’s Operating Highlights Description 2009 2010 (US$ mn) 1Q 2Q 3Q 4Q FY 1Q 2Q Coal Production (mn ton) 5.3 6.1 6.5 6.8 24.71 6.9 7.3 Coal Sales (mn ton) 5.8 6.1 6.4 6.6 24.92 7.3 7.2 Stripping ratio (X) 5.82 6.58 6.75 7.08 6.60 6.49 5.62 Cash Cost (US$/ton incl. royalty) 31.39 29.03 31.86 34.38
Slide 11: Cash Balance & Debt
Cash Balance & Debt (as of June 30, 2010) (in US$ mn) 600 545.27 531.75 500 65.27* Lease 400 300 440.86 480.00** Bond 200 Restricted Cash 100 90.89 0 Cash Balance Debt Note : IDR 9,083/US$ *including bank loan & financial lease of Petrosea : US$ 64.34 mn **US$ 250 mn due 2012 & US$ 230 mn due 2016 1
Slide 12: Stronger Balance Sheet in 2010
Stronger Balance Sheet in 2010 Additional Cash - US$59.8 mn - will be received from Kideco in October 2010 12
Slide 13: Focus in 2010
INDIKA Focus in 2010
Slide 14: Strategy and Business Development
INDIKA, PT. Indika Energy Tbk. ce TRIPATRA STRATEGY BUSINESS DEVELOPMENT * Enhancing Indika Integration Model * Expansion of Kideco * |mproving and Expanding Existing * Expanding the coal trading Businesses: * Finding new coal asset > Expanding the Senices Business . ae : through Tripatra and Petros
Slide 15: PT. Indika Energy Tbk. 2010 Forecast
PT. Indika Energy Tbk. Description 2009A* 2010F Growth (in US$ million) % Net Revenue 264.5 479.4 81.2% Net Profit 77.2 146.6 89.9% CAPEX 41.1 93.0 126.3% *IDR 9,400/US$ 15
Slide 16: PT. Kideco Jaya Agung 2010 Forecast
PT. Kideco Jaya Agung Description 2009A 2010F Growth (in US$ million) % Net Revenue 1,311.9 1,668.4 27.2% Net Profit 287.9 347.9 20.8% Coal Production (mn tons) 24.7 29.0 17.4% Stripping Ratio (X) 6.6 6.7 1.5% 16
Slide 17: 2010 Capital Expenditure
2010 Capital Expenditure US$ 93 mn Budgeted Realization up to June 2010 US$ mn US$ mn % Energy Resources 11.8 3.81 32.3 Energy Services - Tripatra 13.9 0.15 1.1 Energy Services - Petrosea 50.6 21.06 41.6 Energy Infrastructure 9.9 0.10 1.0 Information & Communication Tech. 6.8 1.27 18.7 Total 26.39 2
Slide 18: Growth Oriented Strategy Aimed to Enhance Integrated Platform Synergies
Growth Oriented Strategy Aimed to Enhance Integrated Platform Synergies Capitalize on Indonesia's abundant natural resources and growing energy demand – Identify and acquire attractive energy investments Integrate diverse energy platforms and achieve operational synergies Leverage existing partnersh
Slide 19: Disciplined and Focused Acquisition Strategy
Disciplined and Focused Acquisition Strategy Pursue attractive inorganic growth opportunities in the core areas of expertise while maintaining conservative financial profile Primary Acquisition Criteria Decision Making Process We seek opportunities where: The target can provide additional energy res
Slide 20: Accumulating Coal Reserves for Future Growth
Accumulating Coal Reserves for Future Growth Existing Kideco 1) 579.0 mn tons Reserves Santan Batubara 2) 50.3 mn tons Under West Kalimantan Development Exploration Stage Project What next? Focusing on brown fields & operating mines Note : 1) Based on latest JORC (June 2009) with long term coal pric
Slide 21: Tripatra
Tripatra Strong Backlog : US$ 800 mn Capex : US$ 14 mn 21
Slide 22: Petrosea
Petrosea Strong Backlog : US$ 672 mn Capex : US$ 51 mn 22
Slide 23: Petrosea Re-float
Petrosea Re-float On 10 April 2009, Indika entered into a SPA to acquire 81.95% of PT. Petrosea Tbk (“Petrosea”) from Clough Ltd (“Clough”) On 6 July 2009, Indika completed its US$ 83.8 million acquisition (US$1.01 per share) From August 10 to August 24, 2009, Tender Offer for the remaining 18.05% o
Slide 24: Kideco
Kideco Production Target : 29 mn ton Strip Ratio Target : 6.7X Capex : US$ 40 mn 24
Slide 25: Business Overview
INDIKA Business Overview
Slide 26: Energy Resources
Energy Resources Kideco& West Kalimantan Santan Batubara 26
Slide 27: Coal Industry Outlook
INDIKA Coal Industry Outlook 27
Slide 28: Rapid Growth in Demand for Sub-Bituminous Coal
Rapid Growth in Demand for Sub-Bituminous Coal Indonesia, the largest thermal coal exporter globally, is strategically positioned to supply Asia’s growing coal demand and benefit from the favourable trend in thermal prices. Global – Sub-bitum inous Coal Im ports Demand Indonesia – Sub-bituminous Coa
Slide 29: Global Thermal Coal Outlook
Global Thermal Coal Outlook (mn ton) 1,000 shortfall still c ontinues 750 500 250 0 2008 2009 2010F 2011F 2012F 2013F 2014F 2015F Demand Supply Source: various 29
Slide 30: Strong Coal Market Fundamentals Over Medium-to-Long Term
Strong Coal Market Fundamentals Over Medium-to-Long Term Growing Demand Installed Power Plant Capacity was 157 GW in Feb 2010 – 77% was coal fired. Estimated demand to double to 313 GW by 2017. India Coal import is estimated to increase to 100 mn tons in 2013 from current level of 65 mn tons. Coal i
Slide 31: Strong Coal Market Fundamentals Over Medium-to-Long Term (Supply)
Strong Coal Market Fundamentals Over Medium-to-Long Term Tight Supply Has become a Net Importer since 2009. China’s policy on coal industry consolidation by closing small mines and increasing China standard of Health Safety and Environment (HSE) of mine operation. Logistic interruptions. Will contin
Slide 32: Healthy Demand Outlook Fuelling Domestic Coal Production Growth
Healthy Demand Outlook Fuelling Domestic Coal Production Growth Indonesian Thermal Coal Production (mn tons) 450 Domestic 20 years CAGR : 8.3% 405 361 321 300 185 270 254 191 240 217 193 201 198 206 150 191 163 145 220 170 120 48 54 49 56 64 0 2006 2007 2008 2009 2010F 2015F 2020F 2025F Domestic Exp
Slide 33: PLN's Coal Consumption
PLN’s Coal Consumption Mostly Driven by Low Rank Coal (mn tons) 125 100 95.3 87.5 8.9 77.0 8.9 75 8.9 59.4 42.1 4.9 43.2 50 40.8 36.9 4.9 28.7 25 27.7 44.3 32.2 35.4 25.8 0 8.2 2010F 2011F 2012F 2013F 2014F 4200 kcal 5100 kcal 6100 kcal 4,200 kcal Projected Consumption 5 years CAGR : 52.5% 33 Sourc
Slide 34: Coal Price Trend
0 25 50 75 100 125 150 175 200 (US$/ton) Jan-07 Feb-07 51.1 M ar -07 A pr-07 M ay-07 Jun-07 Jul-07 A ug-07 US$ 64.9/to n Sep-07 2007 A v er age Oct-07 No v -07 88.9 Dec-07 Jan-08 Feb-08 Sou rce: Barlow Jonker& Global Coal 91.8 M ar -08 A pr-08 M ay-08 Jun-08 168.4 Jul-08 A g t-08 Sept-08 2008 A v er
Slide 35: Indika's Coal Reserves
Indika’s Coal Reserves Ownership Reserves Resources Concessions (%) (mn tons) (mn tons) (ha) Kideco 1) 46 579 1,140 50,400 West Kalimantan 90 N/A N/A 34,200 Santan Batubara 2) 50 50 264 25,000 Note : 1) Based on latest JORC (June 2009) with long term coal price US$ 75/ton assumption 2) Based on late
Slide 36: PT. Kideco Jaya Agung
PT. Kideco Jaya Agung Indika owns 46% of Kideco, the third- largest coal producer in Indonesia with 50,400 Ha concession in East Kalimantan Kideco is engaged in surface open-cut mining since 1993 First-generation Coal Contract of Work valid through 2023 JORC resources as of June 09 at 1,140mt and re
Slide 37: Indika and Samtan are equal partners in the Kideco joint venture
Indika and Samtan are equal partners in the Kideco joint venture All major decisions require a 60% vote by shareholders PT MIU Shareholding 46% 49% 5% Indonesian expertise and local access Leading Korean energy company Indonesian coal producer Role Business opportunities via the energy 45 years of m
Slide 38: Abundant Reserves and Resources
Abundant Reserves and Resources Reserves (in million tons) Calorific Area Value (kcal) Proved Probable Total Roto South 4,883 69 95 164 Roto North 5,445 - 21 21 579 million tons Roto Middle 4,710 15 21 36 in Reserves Susubang 5,277 - 10 10 Samarangau 4,275 76 272 348 Total 160 419 579 Resources (in
Slide 39: A Well Developed Infrastructure with End-to-End Control of Mining Process
A 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 4 cape size vessels simultaneously Total Distance: 99 – 107km Stockpiling at TMCT Crushing (3-11km) Exclu
Slide 40: Supporting Reputation as the Most Reliable Supplier
… Supporting Reputation as the Most Reliable Supplier Unmatched Track Record of Production Achievement 103.1% 100.0% 104.1% 24.0 24.8 102.2% 101.1% 22.0 22.0 19.7 20.5 18.0 18.2 18.5 18.9 2005 2006 2007 2008 2009 Target Actual Zero occurrence of force majeure since 1993 Uninterrupted supply of coal
Slide 41: 40 Million Tons Capacity Expansion Completed
40 Million Tons Capacity Expansion Completed Kideco’s expansion plan Capacity: – Investment in Dumptrucks, Excavator, etc – Facility Upgrade : Crushing Plant and Loading Facility Susubang development – Building access roads and bridge connecting the area of Susubang to Crushing Plant Samarangau deve
Slide 42: Kideco Operations Performance
Kideco Operations Performance (mn ton) (multiple) 175 8 7.05 150 6.60 5.45 6.04 6 125 100 4.85 4 75 133.3 112.1 106.7 163.0 85.8 50 2 25 18.9 20.6 22.0 24.7 14.2 0 0 2006 2007 2008 2009 1H10 Overburden Coal Production Strip Ratio 42
Slide 43: One of the Lowest Cost Coal Producer in Indonesia
One of the Lowest Cost Coal Producer in Indonesia Cash Cost Component US$ Cash Cost / ton 1H10 1H09 Other s Material Other s Mater ial 1H10 1.1% Labor 7.0% Labor Fr eight 13.1% 2.9% US$ 33.60 incl. royalty 1.0% Fr eight 1.0% 6.0% 4.8% US$ 27.18 ex. royalty Gov. Gov. Over head Royalty Royalty 5.6% 19
Slide 44: Kideco Sales By Customers
Kideco Sales By Customers Strong Customer Based - Mostly Power Plant 1H10 2009 Kepco Korea Jawa Kepco 11.5% Power Korea 6.5% 12.2% Taiwan Taiwan Power Power 10.3% 7.8% Others Jawa Power 61.5% Bhatia Others India 56.8% 7.9% 6.7% CLP Hong Kong 6.4% Huaneng TFS China Malaysia 6.1% 6.4% 1H10 Revenue : U
Slide 45: West Kalimantan Project
West Kalimantan Project Asset Overview Acquired coal mining rights (“KPs”) in December 2008 for US$18.5 mn Original Concession area was 53,050 Ha in Melawi, West Kalimantan. Detailed Geological Survey and Paloh Mapping has focused on the remaining 34,200 Ha 109 Coal Outcrops have been identified Pon
Slide 46: Santan Batubara
Santan Batubara Asset Overview 50 / 50 joint venture betw een Petrosea and PT Harum Energy Petrosea - responsible for mine contracting services Harum Energy - responsible for coal marketing services Third generation Coal Contract Of Works (“CCOW”) concession covering an area of almost 25,000 hectare
Slide 47: Santan's Operating Highlights
Santan’s Operating Highlights Description 2009 2010 (US$ mn) FY 1Q 2Q Coal Production (mn ton) 1.254 0.636 0.480 Coal Sales (mn ton) 1.116 0.660 0.547 Stripping ratio (X) 12.56 7.60 9.07 Cash Cost (US$/ton incl. royalty) 39.32 42.37 47.73 Cash Cost (US$/ton excl. royalty) 34.15 34.51 38.49 Average s
Slide 48: Energy Services: Tripatra & Petrosea
Energy Services Tripatra & Subsidiaries PT. Petrosea Tbk. 48
Slide 49: Direct Exposure to Growth in Indonesian Infrastructure Spending
Direct Exposure to Growth in Indonesian Infrastructure Spending Energy services will experience strong growth driven by the need for substantial infrastructure investment. Upstream Oil and Gas Capital Expenditures PLN Investm ent Plan (1) Expected New LNG Capacity (US$bn) (US$bn) (mtpa) 7 8 US$40bn
Slide 50: Tripatra Has 37 Years Track Record in the Energy Services
Tripatra Has 37 Years Track Record in the Energy Services Established in 1973 Multi-discipline engineering / EPC and project capabilities Well-established track record with highly rated multinational companies Long-term relationships with key customers including Chevron, Exxon Mobil and HESS Leading
Slide 51: Capabilities across industries
Strong Track Record Across Various Sectors with High Quality Clientele Capabilities across industries Oil & Gas Downstream and Petrochemicals Mining Infrastructure * * Project to be completed in 2011 51
Slide 52: Tripatra's Strong Backlog in 2010
Tripatra’s Strong Backlog in 2010 Project pipelines Client Project descriptions Contract Tim e period Rem aining Revenue Rem aining value Contract Value Recognition Contract Value (US$ m n) (US$ m n) (US$ m n) (US$ m n) Per Period ended Per 31 Dec 2009 30 June 2010 30 June 2010 Ongoing Flexible Prog
Slide 53: Tripatra's Subsidiaries (1)
Tripatra’s Subsidiaries (1) PT Kuala Pelabuhan Indonesia Since Dec 2008 Tripatra holds a 100% equity interest in KPI through direct and indirect ownership . Previously KPI was a joint venture between Tripatra and P&O Ports (subsidiary of Dubai Ports World). KUALA PELAB UHAN KPI operates Freeport Ind
Slide 54: Tripatra's Subsidiaries (2)
Tripatra’s Subsidiaries (2) PT Cotrans Asia • Establish in June 2004, Tripatra has 45% equity interest in Cotrans • Cotrans provides offshore coal transportation and transshipment services to any transshipment point in Adang Bay. It also provides floating crane facility to gearless COTRANS vessels.
Slide 55: Tripatra's Subsidiaries (3)
Tripatra’s Subsidiaries (3) PT Sea Bridge Shipping Establish in October 2008, started commercial operation in March 2009 Tripatra has 46% equity interest in Sea Bridge Shipping (SBS) SBS provides domestic coal transshipment service for Kideco (Cabotage Regulation) Key Financials (US$ mn) 1H09A 1H10A
Slide 56: PT. Petrosea Tbk.
PT. Petrosea Tbk. PT Petrosea Tbk is a multidisciplinary 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 shall be an Indonesian mini
Slide 57: PTRO Shareholding Structure
PTRO Shareholding Structure Public 98.55% 1.45% PT. Petrosea Tbk. (PTRO) listed in the Indonesia Stock Exchange on May 21, 1990 Starting July 06, 2009, the Company is one of the group of companies owned by Indika Number of shares : 100,860,500 Market Cap. as of October 01, 2010 – IDR 2.82 trillion (
Slide 58: Petrosea's Business Lines
Petrosea’s Business Lines Mining ENC POSB 58
Slide 59: Capability Summary
Capability Summary Petrosea is involved in all aspects of a Project’s Lifecycle Engineering Concept Procurement Construction Mining 59
Slide 60: Petrosea Completes Indika's Capabilities Across the Entire Mining Chain
Petrosea Completes Indika’s Capabilities Across the Entire Mining Chain Identification / Acquisition Exploration (managed) Economic and Feasibility Study Engineering and Construction Production Barge Unloading Barging Barge Loading Land Transportation Processing Loading Terminal Transshipment Offtak
Slide 61: Leveraging Integrated Energy Platform
Leveraging Integrated Energy Platform Full Integration Energy Energy Energy Integration Services Resources Infrastructure and extraction of synergies W est Kalimantan Santan Batubara Highlights Petrosea will conduct Economic/Feasibility Study and Engineering & Construction Petrosea will be potential
Slide 62: Petrosea Offshore Supply Base
Petrosea Offshore Supply Base Facilities Equipment • Quay (inner : 4-6 meters & outer 5-8 meters water depth) • 8 various type Cranes • Storage : • 9 various type Fork lifts - Undercover (13,500 square meters) & Open (80,000 square meters) • 4 prime mover and trailers - Oil (4,000 cubic meters) & di
Slide 63: Sample Client & Partner Base
Sample Client & Partner Base 63
Slide 64: Petrosea's Strong Backlog in 2010
Petrosea’s Strong Backlog in 2010 Client Project Contract Scope of Work Tim e period Rem aining Revenue Rem aining descriptions value Contract Recognition Contract (US$ m n) Value (US$ m n) Value (US$ m n) (US$ m n) Per Period ended Per 31 Dec 30 June 30 June 2009 2010 2010 Gunung Bayan Pratam a Ove
Slide 65: Strategic Plan Post Acquisition
Strategic Plan Post Acquisition “To Grow Mining Contracting Business” 65
Slide 66: Post-Acquisition Leadership Alignment
Key Strategic Initiatives Establish Platform Post--Acquisition for Growth Leadership Alignment Post Improve Business Process and Control 66
Slide 67: Establishing Platform for Growth
Establishing Platform for Growth Competitiveness • Productivity Enhancement • Fleet Management • Vendor Support Growth Market Focus • Active Business Development • Business Intelligence Capabilities • Leverage “Pit-to-Port” Enhancement Capabilities • Value-added services offering Maintain • Deep wat
Slide 68: Productivity Enhancements
Productivity Enhancements Supervision Supervisor Training Performance Operations Operator Training Management Management Pit Design Dispatching Remote Location Dump site Location Mine Enabling Monitoring Planning Technology Payload Measurement Haul Road Design System On- On -board Diagnostic Drainag
Slide 69: Fleet/Asset Management
Fleet/Asset Management Life Cycle Scalable for Growth Optimization Asset Capacity Access Enabler Management Platform Fleet Size Maintenance Plan Optimization Equipment Outsource Selection Fleet/Capital Maintenance Plan Delivery Acquisition Plans Self Perform Performance Metrics & Disposal Plans Moni
Slide 70: Key/Major Vendors Support Framework
Key/Major Vendors Support Framework Key/Major Vendors: Mining Equipment, Spare Parts, Consumables, etc. Product/Service Operation Supply Chain Support Optimization Enabling Capacity Availability Technologies Maintenance: Inventory Mgt. Dynamic • FMC Procurement Optimization • Non-FMC Planning Perfor
Slide 71: Mining Fleet
Mining Fleet Petrosea maintains an extensive, high quality fleet. This allows flexibility in fleet management and lowers the risk of operational disruptions to customers. OB Excavator Graders Dump Trucks Dozers August 2010 25 28 141 32 1H11 31 40 177 38 August 2010 Total Fleet : 226 1H11 Total Fleet
Slide 72: Energy Infrastructure: Cirebon Electric Power
Energy Infrastructure *Site development (Boiler Plant in picture), as of August 31, 2010 Cirebon Electric Power 72
Slide 73: CEP's Project Structure
CEP’s Project Structure Location ● Cirebon, Java Capacity ● 1x660MW Shareholding ● Marubeni Corp.: 32.5% ● KOMIPO Co.: 27.5% ● Samtan Co.: 20% ● Indika: 20% Off-taker ● PLN Completion ● 2011 Indika hold a 20% equity interest in CEP, the first international tender of IPP post Asian financial crisis C
Slide 74: CEP's Project Status
CEP’s Project Status ● Overall Progress Accomplishment As of August 31, 2010 overall project progress is 91.3% Equipment Supply : 99.8% Construction : 81.3% Commissioning : 5.0% ● Operation & Maintenance (O&M) – PT. Cirebon Power Services Established in February 2010 Started mobilization to prepare
Slide 75: CEP's Progress Development (1)
CEP’s Progress Development (1) March 31, 2009 June 30, 2009 September 30, 2009 Boiler Plant Construction August 31, 2010 March 31, 2010 December 31, 2009 75
Slide 76: CEP's Progress Development (2)
CEP’s Progress Development (2) Generator Rotor Installation Fly Ash Silo Structure Major Facilities Construction Progress – August 31, 2010 Water Treatment Plant Coal conveyor to Boiler 76
Slide 77: Appendix
Appendix 1. Fast Facts 2. 1H10 Financial Highlights 77
Slide 78: Fast Facts
INDIKA Fast Facts
Slide 79: Indonesia's Leading Integrated Energy Company
Indonesia’s Leading Integrated Energy Company Energy Resources Energy Services Energy Infrastructure Established in 1982 Established in 2007 CCOW - 1st generation Established in 1973 660 MW IPP 50,400 ha Concession Leader in EPC services Signed 30 years PPA No.3 coal producer (onshore Oil & Gas) wit
Slide 80: Key Milestones
Key Milestones FIRST bonds issuance 2008 (Dec) 2010 (June) 2007 2006 • West Kalimantan Establishment of 5 years US$ 250 mn Acquisition of an • Sea Bridge PT Indika Energy 2000 8.50% Senior Notes Shipping Infrastructure 1973 additional 5% of Establishment of due 2012 rating • Kuala Pelabuhan Establis
Slide 81: Corporate Structure
Corporate Structure PT. Indika Energy Tbk. (Indonesia) 100% 100% 100% 98.55% 100% 100% 100% PT. Indika Inti Corpindo (Indonesia) PT. Tripatra Engineers & PT Indika Infrastruktur Indika Power Indo Integrated Energy Constructors PT. Tripatra Engineering PT. Petrosea Tbk. Investindo Investments Pte. Lt
Slide 82: INDY Shareholding Structure
INDY Shareholding Structure PT. Indika Mitra Individual Founders Public Energi (less than 5% each) 73.117%* 19.363% 7.520% PT. Indika Energy Tbk. (INDY) listed in the Indonesia Stock Exchange on June 11, 2008 Number of shares : 5,207,142,000 Part of IDX’s LQ 45 Index and MSCI Indonesia Index Market
Slide 83: Outstanding High-Yield Bonds
Outstanding High-Yield Bonds B2 Positive Outlook Both Senior Notes are rated: B+ Stable Outlook Indo Integrated Energy B.V. Indo Integrated Energy II B.V. US$ 250 mn US$ 230 mn 9.00% 5-year Senior Notes 9.75% 7-year Senior Notes Reg S Reg S / 144A due 2012 due 2016 Asia Best Best High Yield High Yie
Slide 84: Initial Public Offering US$ 329,000,000
Asia-wide Recognition of Indika Energy’s Excellence Initial Public Offering US$ 329,000,000 Finance Asia Asia Money “ 2008 Best Indonesian Deal” “2008 Country Awards” 84
Slide 85: 1H10 Financial Highlights
1H10 Financial Highlights 85
Slide 86: Indika's Financial Highlights (1)
Indika’s Financial Highlights (1) Revenue Gross Profit (Rp bn.) (Rp bn.) 3,000 750 2,487 620 2,500 2,314 600 2,000 1,767 450 353 1,500 287 815 300 1,000 150 106 500 0 0 2008A 2009A 1H09A 1H10A 2008A 2009A 1H09A 1H10A Margin 12.4% 24.9% 13.1% 20.0% Net Profit Adjusted EBITDA* (Rp bn.) (Rp bn.) 1,200
Slide 87: Indika's Financial Highlights (2)
Indika’s Financial Highlights (2) Current Assets Current Liabilities (Rp bn.) (Rp bn.) 6,000 5,561 1,500 1,382 4,876 1,166 1,208 5,000 4,216 3,922 4,000 1,000 781 3,000 2,000 500 1,000 0 0 2008A 2009A 1H09A 1H10A 2008A 2009A 1H09A 1H10A Current Ratio (X ) 5.0 3.5 3.6 4.6 Debt Shareholders‘ Equity (R
Slide 88: Indika's Financial Highlights (3)
Indika’s Financial Highlights (3) Description 1H10 1H09 Changes (in Rp. Billion) audited audited (%) Revenue 1,767 815 116.7% Gross Profit 353 106 232.1% Operating Profit 4 (36) 111.3% Adjusted EBITDA * 1,444 1,164 24.0% Income from Associate Companies 721 800 -9.8% Net Profit 467 365 28.1% EPS (Rp/
Slide 89: Indika's Financial Highlights (4)
Indika’s Financial Highlights (4) Ratio 1H10 1H09 audited audited Gross Margin 20.0% 13.1% Operating Margin 0.2% -4.4% Net Margin 26.4% 44.7% Adjusted EBITDA Margin* 81.7% 142.8% ROA 4.1% 4.1% ROE 8.7% 7.1% Current Ratio (X) 4.60 3.62 Debt to Equity (X) 0.89 0.49 Net Debt to Equity (X) 0.02 (0.31) D
Slide 90: Kideco's Financial Highlights
Kideco’s Financial Highlights Revenue EBITDA Net Profit (US$ mn) (US$ mn) (EBITDA Margins) (US$ mn) (Net Margins) 288 1,312 511 229 1,082 440 770 157 155 279 283 630 40.7% 44.2% 38.9% 36.8% 24.8% 21.2% 21.9% 20.2% 2008A 2009A 1H09A 1H10A 2008A 2009A 1H09A 1H10A 2008A 2009A 1H09A 1H10A 90
Slide 91: Kideco's Financial and Operating Highlights
Kideco’s Financial and Operating Highlights Description 1H10 1H09 Changes (in US$ mn) audited audited (%) Revenue 770 630 22.2% Gross Profit 279 276 1.0% Operating Profit 270 269 0.1% Net Profit 155 157 -0.8% EBITDA 283 279 1.7% Shareholders' Equity 254 247 2.7% Cash Balance 213 128 66.4% Debt 10 12
Slide 92: Thank You
Thank You PT. Indika Energy Tbk. Mitra Building 7 th Floor Jl. Jend. Gatot Subroto Kav. 21 Jakarta 12930 Indonesia (6221) 2557-9888 www.indikaenergy.co.id investor.relations@indikaenergy.co.id 92