PT Mitra Pinasthika Mustika Tbk · IDX:MPMX
PT Mitra Pinasthika Mustika Tbk — H1 2015 Earnings Presentation
24 slides from PT Mitra Pinasthika Mustika Tbk's earnings presentation, Aug 6, 2015
Slide 1: 1H15 MPMX Analyst & Investor Presentation
PT Mitra Pinasthika Mustika Tbk 1H15 MPMX ANALYST & INVESTOR PRESENTATION 6 August 2015 www.mpmgroup.co.id
Slide 2: MPM Credo: Mission, Vision, Core Values
MPM CREDO Mission To provide integrated, high quality automotive products and services that excite our customer and deliver sustainable returns to our stakeholders through synergistic capabilities and passionate people across our businesses Vision To become a respected automotive products and servic
Slide 3: Key Messages
KEY MESSAGES MPM Updates Leading End-to-End Consumer Automotive Company in Indonesia 1H15 Business Segments Performance Stable 2W, Continue Building 4W, Prudent Financing Business 1H15 Summary +4% Revenue growth YoY, Earnings +1% QoQ and -18% YoY due to Sluggish Market 3
Slide 4: 28 Year Successful Legacy and Expertise in Automotive
28 YEAR SUCCESSFUL LEGACY AND EXPERTISE IN AUTOMOTIVE... Establishment – Pre 2012 1987 1988 1992 1994 2010 - 2011 Founded by William FKT was MPMMotor 1st Acquired initial Mulia was established; Soeryadjaya as 2W established retail outlet was shareholding in SAF, distribution business distribution bu
Slide 5: An End-to-End Nationwide Ecosystem in Automotive Sector
AN END-TO-END NATIONWIDE ECOSYSTEM SERVING VAST CONSUMERS IN AUTOMOTIVE SECTOR... DISTRIBUTION & RETAIL AUTO CONSUMER PARTS AUTO SERVICES FINANCIAL SERVICES 2W Honda distribution in 2W engine lubricant Independent 2W, 4W, E. Java + E. Nusa brand principal with 35 lease financing business Tenggara wi
Slide 6: Market Leading Position Driving Growth
...WITH MARKET LEADING POSITION DRIVING GROWTH SCALE POSITION + GROWTH (1) #1 E. Java, 78% market share +8% 2W volume growth DISTRIBUTION & RETAIL #5 nationwide by volume +10% 2W retail volume growth 1 of 2 nationwide dealer 1,545 unit sales 1H15 AUTO CONSUMER ~20% market share in 2W lube +5% revenu
Slide 7: Segment Contribution in the Ecosystem
SEGMENT CONTRIBUTION IN THE ECOSYSTEM 7% 7% 7% 7% Revenues FY14 10% Revenues 1H15 9% +16% +4%/+10% IDR 16.1T YoY IDR 8.2T YoY/QoQ 76% 77% 1% 8% 11% 7% NPATMI FY14 NPATMI 1H15 -18%/+1% IDR 487B -7% IDR 233B 45% YoY/QoQ 48% YoY NPAT: 37% 43% - Non Financial Services: -5% - Financial Services : -65% Di
Slide 8: Strong Governance and Management with Active Major Shareholders
STRONG GOVERNANCE AND MANAGEMENT IN PLACE WITH ACTIVE MAJOR SHAREHOLDERS BOARD OF COMMISSIONERS BOARD OF DIRECTORS BoC brings strong mix of operational, strategy, M&A, BoD members bring over 79 years of combined and governance expertise professional experience Edwin Soeryadjaya Troy Parwata Chairman
Slide 9: April–June 2015 Key Events
APRIL – JUNE 2015 KEY EVENTS: DRIVING THROUGH EXCELLENCE May ‘15 May ‘15 May‘15 MPMAuto opened new Nissan- Soft launch of MPMAuto Nissan- Ground breaking of FKT new LOBP in Datsun dealership in Kenjeran, Datsun Dealership at Tanjung Pinang, Cilegon, Banten Surabaya Riau Island May ‘15 Jun ‘15 Jun ‘1
Slide 10: USD Senior Notes Hedging Coverage
USD SENIOR NOTES HEDGING COVERAGE – ORIGINAL & TOP UP USD Spot Rate Original Coverage Top-Up Coverage Settlement Settlement @ Market Spot Rate Rp 12,000 @ Rp 12,000 @ Market Spot Rate Rp 14,000 @ Rp 2,000 subsidy Rp 15,000 @ Rp 14,000 @ Rp 2,000 subsidy – (Spot Rate – Rp 15,000) Rp 16,000 @ Rp 1,000
Slide 11: Key Messages
KEY MESSAGES MPM Updates Leading End-to-End Consumer Automotive Company in Indonesia Company Updates 1H15 Business Segments Performance Continued Stable 2W, scale building Continue and growth Building acrossFinancing 4W, Prudent all business segments Business 1H15 Summary +4% Revenue growth YoY, Ear
Slide 12: 1H15 Consolidated Revenue Results
1H15 CONSOLIDATED REVENUE RESULTS IDR B 461 (57) (28) 23 (66) 8,181 7,848 +4% Positive group revenue growth 1H14 1H15 % Growth from LY +7% -7% -5% +4% Distribution Auto Consumer Financial Auto Services Elimination & Retail Parts Services 12
Slide 13: 1H15 Consolidated Net Profit Results
1H15 CONSOLIDATED NET PROFIT AFTER TAX & MINORITY INTERESTS RESULTS IDR B (30) 37 10 (27) 8 (49) 284 233 -18% 1H14 Profit pressures due to macro situation 1H15 % Growth from LY -20% +8% -42% -63% 37% -41% Auto Distribution Auto Financial Head Minority Consumer Elimination & Retail Services Services
Slide 14: 2W Distribution & Retail: Continue Leadership in E. Java and NTT
2W DISTRIBUTION & RETAIL: CONTINUE LEADERSHIP IN E. JAVA AND NTT Sales Volume (000 units, YoY%) 1H15 Highlights Mulia +7% -4% • Sales volume impacted by slow macro: lower consumer -7% 905 968 934 confidence and purchase power 488 454 • Increase in sales price supports revenue growth 1H14 1H15 FY13 F
Slide 15: 4W Dealership: Build Network & Competitive Capability
4W DEALERSHIP: BUILD NETWORK & COMPETITIVE CAPABILITY Sales Volume (Car Units, YoY%) +225% +77% 1H15 Highlights • New branches provides volume and revenue rowth 1,545 • Opened 2 new branches in Tanjung Pinang & Kenjeran on 16,670 2,452 1,382 475 130 1,382 May‘15 1H14 1H15 FY13 FY14 1H15 LTM • Negati
Slide 16: Consumer Parts: Continue Strengthen Channel Development
CONSUMER PARTS: CONTINUE STRENGTHEN CHANNEL DEVELOPMENT Sales Volume (KL, YoY%) 1H15 Highlights • Normalize volume due to slow consumer demand -13% +2% -7% • NPAT increase due to lower COGS and opex 60,632 62,116 • Hedges in place to fulfill FY15 volume needs 32,176 60,632 58,014 28,074 1H14 1H15 FY
Slide 17: Auto Services: Maintain Operational Excellence
AUTO SERVICES: MAINTAIN OPERATIONAL EXCELLENCE Fleet Size (Units, YoY%) -7% +13% -7% 1H15 Highlights 15,460 • Focusing on cash flow and rental rate 14,413 15,255 14,208 • Pressures on NPAT mainly due to higher depreciation, 13,502 increased maintenance costs and loss on sales on mining 13,502 units
Slide 18: MPMFinance: Selective Growth While Focus on Asset Quality
MPMFINANCE: SELECTIVE GROWTH WHILE FOCUS ON ASSET QUALITY New Booking (IDR B, YoY%) 1H15 Highlights +21% -9% -19% 4,093 3,719 • Focus on asset quality vs. new booking 3,388 • Selective acquisition on 2W, 4W financing and heavy 1,975 1,601 equipment market 1H14 1H15 FY13 FY14 1H15 • Lower YTD NPAT th
Slide 19: MPMInsurance: Increase Penetration Group & Non-Group Businesses
MPMINSURANCE: INCREASE PENETRATION GROUP & NON-GROUP BUSINESSES Gross Premium (IDR B, YoY%) 1H15 Highlights +96% +32% • Healthy gross premium growth from group and non-group +80% businesses 196 • Increase in net underwriting income and net investment 148 income 108 76 60 1H14 1H15 FY13 FY14 1H15 LTM
Slide 20: Key Messages
KEY MESSAGES MPM Updates Leading End-to-End Consumer Automotive Company in Indonesia 1H15 Business Segments Performance Stable 2W, Continue Building 4W, Prudent Financing Business 1H15 Summary 1Q14 Summary & Business Segments Performance +4% Revenue Stable growth 2W business YoY, Earnings despite na
Slide 21: FY13–FY14 & 1H15 Summary: Key Metrics Consolidated
FY13 – FY14 & 1H15 SUMMARY KEY METRICS CONSOLIDATED FY13 FY14 1H14 1H15 % Profit & Loss (IDR Billion) Net Revenue 13,879 16,076 7,848 8,181 4.2% Gross Profit 2,024 2,314 1,144 1,168 2.1% GP Margins 14.6% 14.4% 14.6% 14.3% Operating Expenses (1,172) (1,507) (674) (820) 21.7% Other Income (Expenses) 4
Slide 22: FY13–FY14 & 1H15 Summary: Non-Financial Services
FY13 – FY14 & 1H15 SUMMARY KEY METRICS NON-FINANCIAL SERVICES FY13 FY14 1H14 1H15 % Profit & Loss (IDR Billion) Net Revenue 12,872 14,895 7,274 7,591 4.4% Gross Profit 1,414 1,556 775 799 3.2% GP Margins 11.0% 10.4% 10.6% 10.5% Operating Expenses (719) (851) (393) (462) 17.6% Other Income (Expenses)
Slide 23: FY13–FY14 & 1H15 Summary: Financial Services
FY13 – FY14 & 1H15 SUMMARY KEY METRICS FINANCIAL SERVICES FY13 FY14 1H14 1H15 % Profit & Loss (IDR Billion) Net Revenue 1,030 1,212 588 611 3.9% Gross Profit 631 782 381 383 0.4% GP Margins 61.3% 64.5% 64.8% 62.6% Operating Expenses (474) (687) (296) (375) 26.7% Other Income (Expenses) 6 9 5 20 283.
Slide 24: Disclaimer
Disclaimer • These materials have been prepared by PT Mitra Pinasthika Mustika Tbk (the “Company”, “MPM”) and have not been independently verified. No representation or warranty, expressed or implied, is made and no reliance should be placed on the accuracy, fairness or completeness of the informati
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