PT Mitra Pinasthika Mustika Tbk · IDX:MPMX
PT Mitra Pinasthika Mustika Tbk — H1 2014 Earnings Presentation
24 slides from PT Mitra Pinasthika Mustika Tbk's earnings presentation, Aug 28, 2014
Slide 1: 1H14 Investor and Analyst Gathering
PT Mitra Pinasthika Mustika Tbk 1H14 INVESTOR AND ANALYST GATHERING 28 August 2014 www.mpmgroup.co.id
Slide 2: MPM Credo
MPM CREDO Mission To provide high quality and friendly transportation products and services that make our customers happy Vision Become a friendly household name through resourceful and passionate people led by respectable and humble leaders MPM Core Values 4. Respect & Humble 1. Passion for Excelle
Slide 3: Key Messages (NPAT Growth)
KEY MESSAGES (NPAT GROWTH) About MPM Leading End-to-End Consumer Automotive Company in Indonesia Company Updates Progressing despite macro challenges 1H14 Summary & Business Segments Performance Strong 2W business despite natural disasters, Strengthen 4W businesses FY14 Outlook ~20% revenue growth,
Slide 4: 26 Year Successful Legacy and Expertise in Automotive
26 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: Creating an End-to-End Nationwide Ecosystem in Automotive Sector
...CREATING 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 32 lease financing business
Slide 6: With Market Leading Position Driving Growth
...WITH MARKET LEADING POSITION DRIVING GROWTH SCALE POSITION + GROWTH (1) #1 E. Java, 70% market share 14% 2W volume growth DISTRIBUTION & RETAIL #5 nationwide by volume 14% 2W retail volume growth 1 of 2 nationwide dealer 850 unit orders since inception AUTO CONSUMER #1 for Honda, 23% market share
Slide 7: Balanced Segment Profit Contribution in the Ecosystem
BALANCED SEGMENT PROFIT CONTRIBUTION IN THE ECOSYSTEM 7% 7% 7% 7% 10% 10% Revenues FY13 Revenues 1H14 +29% +16% IDR 13.9T YoY IDR 7.8T YoY 76% 76% 13% 20% 9% NPATMI FY13 NPATMI 1H14 43% +41% 9% +14% IDR 526B YoY IDR 284B 44% YoY 34% 28% Distribution & Retail Auto Consumer Parts Auto Services Financi
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 80 years of combined and governance expertise professional experience Shareholder Composition 15.3% PT Sarato
Slide 9: Key Messages (NPAT Growth)
KEY MESSAGES (NPAT GROWTH) About MPM Leading End-to-End Consumer Automotive Company in Indonesia Company Company Updates Updates Continued Progressingscale building despite macroand growth across all business segments challenges 1H14 Summary & Business Segments Performance Strong 2W business despite
Slide 10: 2Q14 Key Events: Progressing Despite Macro Background
2Q14 KEY EVENTS: PROGRESSING THROUGH DESPITE MACRO BACKGROUND Apr – Jun ‘14 Jun ‘14 25 Jun ‘14 Kick-off Customer Satisfaction Mulia received top awards from AHM Federal Oil received WOW Brand independent measurement by Ipsos for digital channels, achieved award from MarkPlus on each Opco 100,000 uni
Slide 11: MPMAuto: Building Dealerships, Focus on Productivity
MPMAUTO: BUILDING DEALERSHIPS, FOCUS ON PRODUCTIVITY 1 Customer Service Differentiation No Dealership Start of Sales • Alam Sutera: 3S type, largest in SEA, 1 Tanjong Priok - Jakarta Mar ‘14 51 service bays 2 Pluit - Jakarta Jul ‘14 • Nissan UCARS dealership • In-house training for CS service level
Slide 12: MPM Has Used Up 77% of the Proceeds Raised in the IPO
MPM HAS USED UP 77% OF THE PROCEEDS RAISED IN THE IPO In IDR B (%) denotes percentage of net IPO proceeds. 225 300 MPMRent purchase FKT 17% stake acquisition new cars 17% 23% 970,000,000 shares (21.7% of enlarged TSO) 220 were offered to public market 16% at IDR1,500 per share 1,355 MPMRent acquisit
Slide 13: Key Messages (NPAT Growth)
KEY MESSAGES (NPAT GROWTH) About MPM Leading End-to-End Consumer Automotive Company in Indonesia Company Updates Progressing despite macro challenges 1Q14 1H14 Summary & Business Segments Performance Strong 2W Stable 2W business business despite despite natural natural disasters, disasters, Strong S
Slide 14: 2W Distribution & Retail: Increase Market Share Despite Macro Challenges
2W DISTRIBUTION & RETAIL: INCREASE MARKET SHARE DESPITE MACRO CHALLENGES Sales Volume (000 units, YoY%) Mulia 1H14 Highlights +9% +23% +7% • 1H14: volume impacted by flooding in Jan ‘14 and 905 970 488 736 Kelud volcano eruption in Feb ’14 448 • Achieved record sales of 100,144 units during Jun’ 14
Slide 15: 4W Dealership: Scaling Up and Execution
4W DEALERSHIP: SCALING UP AND EXECUTION Sales Volume (Car Units, YoY%) 1H14 Highlights 3,500 • MPMX 1st dealer was opened in Enggano, North Jakarta... For Nissan & Datsun brand 16,670 475 130 • Opened first Nissan UCARS dealer in Indonesia - - • Launched Datsun Go+ in May’14, New Elgrand in Jun’ 1H1
Slide 16: Consumer Parts: Continuing Brand Building & Distribution
CONSUMER PARTS: CONTINUING BRAND BUILDING & DISTRIBUTION ACTIVITIES IN FKT(1) TO INCREASE GROWTH Sales Volume (KL, YoY%) 1H14 Highlights +11% +8% • Revenue and NPAT steady growth at 8% - 9% 67,000 +0% 60,632 • Lingering effect from election affecting sales volume, 56,393 32,124 32,176 especially to
Slide 17: Auto Services: Solid Organic Growth, Focus on Operational Improvements
AUTO SERVICES: SOLID ORGANIC GROWTH, FOCUS ON OPERATIONAL IMPROVEMENTS Fleet Size (Units, YoY%) 1H14 Highlights +19% • Launched drivers training school in Mar ‘14 ... Key +44% +69% 16,017 differentiator for corporate customers 15,460 13,502 • Average length of contract: 2.5 years 10,751 7,991 • Key
Slide 18: MPMFinance: Finalize Merger and Grow Portfolio
MPMFINANCE: FINALIZE MERGER AND GROW PORTFOLIO New Booking (IDR B, YoY%) 1H14 Highlights • Executed merger with SAF with JACCS as 40% partner +20% +17% +8% • Steady growth in new booking, contributed equally 4,779 between financial lease and 2W + 4W financing 1,646 1,975 3,778 4,424 • Revenue offset
Slide 19: MPMInsurance: Strong Growth Through Group and Non-Group Businesses
MPMINSURANCE: STRONG GROWTH THROUGH GROUP AND NON-GROUP BUSINESSES Gross Premium (IDR B, YoY%) 1H14 Highlights +99% • Additional businesses generated via co-operation with +1,420% insurance brokers servicing both wholesale and +82% 151 individual market 76 60 • 10 nationwide representative offices a
Slide 20: Key Messages (NPAT Growth)
KEY MESSAGES (NPAT GROWTH) About MPM Leading End-to-End Consumer Automotive Company in Indonesia Company Updates Progressing despite macro challenges 1H14 Summary & Business Segments Performance Strong 2W business despite natural disasters, Strengthen 4W businesses FY14 Outlook ~20% revenue [20 - 25
Slide 21: MPM Looking to Maintain 20+% Growth
MPM LOOKING TO MAINTAIN 20+% GROWTH, CONTINUING POSITIVE TRENDS OVER THE LAST 5 YEARS Revenue (IDR Billion) NPAT (IDR Billion) 20+% CAGR 25+% CAGR 600 - 564 610 16,500 - 406 16,700 250 268 13,879 FY10 FY11 FY12 FY13 FY14E 10,777 NPATMI (IDR Billion) 7,725 8,453 25+% CAGR 540 - 526 550 374 213 220 FY
Slide 22: 1H14 Summary and FY2014 Outlook
1H14 SUMMARY AND FY2014 OUTLOOK Key Metrics FY12 FY13 % FY14E % 1H13 1H14 % Profit & Loss (IDR Billion) Net Revenue 10.777 13.879 29% 16.500-16.700 19%-20% 6.781 7.848 16% Gross Profit 1.618 2.024 25% 1.015 1.144 13% GP Margins 15,0% 14,6% 15,0% 14,6% Operating Profit 746 901 21% 463 490 6% OP Margi
Slide 23: 1H14 Summary and FY2014 Outlook (Continued)
1H14 SUMMARY AND FY2014 OUTLOOK (CONTINUED) Key Metrics FY12 FY13 % FY14E % 1H14 % Balance Sheet (IDR Billion) Cash 1,192 1,103 -7% 1,055 -4% 1,061 -4% ST & LT Loans 1,911 1,987 4% 2,826 42% 2,583 30% MCNs 1,010 - - - - - - Bank Funding for MPMF 3,216 3,551 10% 4,200 18% 3,455 -3% Book Value of Equi
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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