Pt Indo Tambangraya Megah Tbk · IDX:ITMG
Pt Indo Tambangraya Megah Tbk — Q2 2022 Earnings Presentation
28 slides from Pt Indo Tambangraya Megah Tbk's earnings presentation, Aug 18, 2022
Slide 1: 2Q22 Performance Result
2Q22 18 May 2022 PERFORMANCE RESULT 18 August 2022
Slide 2: 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 3: 2Q22 Highlights
Transporting coal through hauling road 01 2Q22 Highlights
Slide 4: 2Q22 highlights – Good and responsible miner towards greener, smarter transformation
2Q22 highlights – Good and responsible miner towards greener, smarter transformation Upbeat Bottom Line Moving towards greener, smarter transformation Committed as a good and responsible miner Strong coal price has brought a solid positive impacts to ITM financial performance. 2Q22 net profit record
Slide 5: Our solar renewable venture: greener, smarter energy provider
Our solar renewable venture: greener, smarter energy provider Bunyut Solar PV power plant Bunyut Solar PV power plant pictures ▪ The project consists of 2MW Solar PV plant with 1MWh Battery Topography survey Material unloading Energy Storage System (BESS) with estimated CAPEX of $3.4 million. ▪ The
Slide 6: Corporate responsibility and the development of capital city Nusantara
Our strong corporate responsibility allow us to take part in the development of capital city “Nusantara” Background About Mentawir Nursery ▪ The Government plan to build 30 seed nursery center by 2024 to support Nusantara. ▪ Located 30 km from the ▪ ITM is offered to build the Mentawir nursery as it
Slide 7: Real actions to ascertain our intention to be a responsible miner
Real actions to ascertain our intention to be a responsible miner Awards in 2Q22 ITM persists in its ITM improves its commitment to contribution to complying with conserve and regulations, norms, enhance the state and customs. of the environment. Leading initiatives include watershed ITM for Leading
Slide 8: ITM way forward plan
ITM way forward plan MINING ENERGY SERVICES Organic coal reserve Greenfield coal mines Third-party coal sourcing In-house mining contractor growth to maximize development in three new to diversify the revenue to expand its capacity and its existing coal assets mines (GPK, NPR and TIS) source through
Slide 9: Coal Market Trends
Coal inventory at the Port Stockyard area in Bunyut Port 02 Coal Market Trends
Slide 10: Global thermal coal market
Global thermal coal market COAL DEMAND AND SUPPLY CHANGE – 2022E VS 2021 TRENDS DEMAND Unit: Mt SUPPLY DEMAND Strong European demand and high gas prices keep Newcastle benchmark coal price at high level. Several Asian buyers could not afford at that price level, leading to some try to seek for lower
Slide 11: ITM ASPs vs thermal coal benchmark prices
ITM ASPs vs thermal coal benchmark prices ITM ASP VS BENCHMARK PRICES COMMENTS ▪ Seaborne premium thermal coal market remained strong throughout 2Q22 due to Unit: US$/t Monthly NEX upward movement of gas prices as a result of the prolonged Ukraine crisis, the 450 400 unexpected halving of Russian pi
Slide 12: ITM coal sales
ITM coal sales 6M22 COAL SALES BREAKDOWN BY DESTINATION COAL SALES 6M22 Others Taiwan 2% 7% Thailand 5% China India 6% 28% 6M22 Bangladesh 6% Sales 2.3 Mt 8.1 Mt 1.3 Mt Philippines 8% Indonesia Japan JAPAN 22% CHINA 16% 0.5 Mt BANGLADESH 0.2 Mt 0.5 Mt 0.4 Mt TAIWAN 0.6 Mt INDICATIVE COAL SALES FY22
Slide 13: Operations Update
Coal mining activities in Trubaindo mine 03 Operations Update
Slide 14: Operational summary 2Q22
Operational summary 2Q22 SCHEMATIC OUTPUT TREND Unit: Mt 2022 Target: East Kalimantan 17.5-18.8Mt IMM 4.7 4.6 6.7-6.8 Mt 3.8 3.9 GPK 0.2-1.0 Mt Bontang Coal Terminal Bunyut KTD EMB TCM Port 0.2 Mt 3.0 Mt Samarinda BEK 6.5-6.6 Mt Balikpapan 2Q21 1Q22 2Q22 3Q22e Central Kalimantan SR (bcm/t) 10.5x 11.
Slide 15: Coal operations: Indominco Mandiri
Coal operations: Indominco Mandiri SCHEMATIC OUTPUT TREND Unit: Mt 2022 TARGET: 6.7-6.8 Mt Operations Barge Ports Hauling Stockpile West Block Crusher ROM 1.9 2.0 Mine 1.7 stockpile stockyard 1.5 East Block Bontang City 35km 2Q21 1Q22 2Q22 3Q22e Sea conveyor 2.5km SR (bcm/t) 11.0x 9.8x 10.3x 10.8x A
Slide 16: Coal operations: Trubaindo Coal Mining
Coal operations: Trubaindo Coal Mining SCHEMATIC OUTPUT TREND 2022 TARGET: 3.0 Mt Unit: Mt Mahakam River Bunyut Port East Kalimantan Product coal conveyor, stacking, stockpile 0.9 0.8 Operations 0.7 0.7 40km Barge Ports Mine to port Hauling Kedangpahu Stockpile River 2Q21 1Q22 2Q22 3Q22e Crusher SR
Slide 17: Coal operations: Bharinto Ekatama
Coal operations: Bharinto Ekatama SCHEMATIC OUTPUT TREND 2022 TARGET: 6.5-6.6 Mt Unit: Mt Mahakam River Bunyut Port East Kalimantan Product coal conveyor, stacking, 1.5 stockpile 1.3 1.2 1.1 Operations Barge Ports Hauling Kedangpahu Stockpile River 2Q21 1Q22 2Q22 3Q22e Crusher 7.8x SR (bcm/t) 6.6x 8
Slide 18: Coal operations: Jorong
Coal operations: Jorong SCHEMATIC OUTPUT TREND 2022 TARGET: 1.0-1.2 Mt Unit: Mt Pelaihari 0.3 0.3 0.2 0.2 Haul road 20km 2Q21 1Q22 2Q22 3Q22e SR (bcm/t) 13.4x 11.5x 16.2x 10.6x COMMENTS Jorong ▪ 2Q22 production achieved at 0.2Mt with higher strip ratio at 16.2x Coal terminal due to entering new work
Slide 19: Financial Summary
Command center of Bontang port 04 Financial Summary
Slide 20: Highlights of 2Q22 results
Highlights of 2Q22 results Key Figures Key Takeaways 2Q22 1 Upbeat financial performance ASP rose from $150/t in 1Q22 to $202/t in 2Q22, NPAT $247 M continuing the increasing ASP trend since 2Q21, Continue to record strong NPAT as we continue to utilize the high coal price by capturing the momentum
Slide 21: Profitability – Income statement
Profitability – Income statement SALES VOLUME AVERAGE SELLING PRICE REVENUE Unit: Mt Unit: US$/t Unit: US$ million 1,422 9.0 8.1 202.4 175.1 782 4.9 150.4 4.3 640 676 3.9 80.3 74.7 392 2Q21 1Q22 2Q22 6M21 6M22 2Q21 1Q22 2Q22 6M21 6M22 2Q21 1Q22 2Q22 6M21 6M22 GROSS PROFIT AND GPM EBITDA NET PROFIT U
Slide 22: Cost analysis
Cost analysis WEIGHTED AVERAGE STRIP RATIO PRODUCTION COST Unit: Bcm/t Unit: US$/t 41.4 11.1 11.0 10.8 10.5 10.6 49.3 51.3 50.3 40.0 41.0 2Q21 1Q22 2Q22 6M21 6M22 2Q21 1Q22 2Q22 6M21 6M22 FUEL PRICE TOTAL COST* Unit: US$/Ltr Unit: US$/t 0.99 0.86 0.73 52.9 0.51 0.48 89.4 74.5 81.6 53.8 52.6 2Q21 1Q2
Slide 23: Balance sheet
Balance sheet 2Q22 BALANCE SHEET BANK LOAN DETAILS KEY RATIOS Unit: US$ million Unit: US$ million Debt to Equity (x) Borrowing 31 0.05 Other Liabilities Current maturities of 0.03 461 Long-term bank loan Cash 0.02 808 12 FY20 FY21 6M22 19 Net Gearing (%) Equity FY20 FY21 6M22 Other 1,482 Assets 1,16
Slide 24: 6M22 capital expenditure
6M22 capital expenditure 6M22 CAPEX total: $14.9 mn FY22 CAPEX budget: $68.8 mn 19.5 18.6 8.0 8.1 6.8 7.0 4.8 3.2 2.7 1.7 0.8 0.5 0.9 0.7 0.2 0.1 Indominco Trubaindo Bharinto Jorong TRUST GPK,NPR,TIS Renewable Others FY22 Budget 6M22 Note: Total capex plan including Jakarta office after elimination.
Slide 25: Q&A Session
Biodiversity conservation nearby mining area 05 Q&A Session
Slide 26: Income statement – 6M22 vs 6M21
Income statement – 6M22 vs 6M21 Unit: US$ thousand 6M22 6M21 YoY% Net Sales 1,421,541 676,303 110% Gross Profit 749,160 227,344 230% GPM 53% 34% SG&A (79,796) (46,850) EBIT 669,364 180,494 271% EBIT Margin 47% 27% EBITDA 712,032 223,762 218% EBITDA Margin 50% 33% Net Interest Income / (Expenses) 193
Slide 27: Income statement – 2Q22 vs 1Q22
Income statement – 2Q22 vs 1Q22 Unit: US$ thousand 2Q22 1Q22 QoQ% Net Sales 781,608 639,933 22% Gross Profit 412,829 336,331 23% GPM 53% 53% SG&A (43,464) (36,332) EBIT 369,365 299,999 23% EBIT Margin 47% 47% EBITDA 388,912 323,120 20% EBITDA Margin 50% 50% Net Interest Income / (Expenses) 250 (57)
Slide 28: ITM structure
ITM structure Banpu 65% INDONESIAN STOCK 35%* EXCHANGE Public ITMG PT Indo Tambangraya Megah Tbk. IPO 18th Dec 2007 95.07% SME 99.99% 99.99% 99.00% 99.99% 99.99% 99.99% 70.00% 99.90% 99.99% 70.00% Indominco Trubaindo Bharinto Jorong Kitadin NPR GPK TIS TRUST IBP PT Tambang Raya Usaha Tama PT ITM Bhi
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