Pt Mega Manunggal Property Tbk · IDX:MMLP
Pt Mega Manunggal Property Tbk — Q1 2018 Earnings Presentation
70 slides from Pt Mega Manunggal Property Tbk's earnings presentation, 2018
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Slide 6: Who We Are
PT Mega Manunggal Property Tbk Section 1 Who We Are 6
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Slide 9: Bonny Budi Setiawan, President Director
PT Mega Manunggal Property Tbk Bonny Budi Setiawan President Director Has has been the Company’s Director since 2015 and appointed as the President Director in January 2017. Earned a Bachelor of Business Administration in Accounting and Finance from Simon Fraser University, Canada (1997). Previously
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Slide 13: Net Leasable Area Q1 2018
PT Mega Manunggal Property Tbk 350,000 300,680 300,000 250,000 230,370 200,000 158,137 163,911 163,911 139,811 150,000 100,000 2013 2014 2015 2016 2017 Q1 2018 13
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Slide 15: BEST warehouse locations
PT Mega Manunggal Property Tbk DKI Jakarta (Jatiwarana) BEST Operational Contract signed Jawa Barat In construction Negotiation/tender (Cimanggis) 15
Slide 16: Tenant breakdown by industry
PT Mega Manunggal Property Tbk Others 3% E-commerce 19% Logistics 35% Manufacture 43% 16
Slide 17: Growth Strategy
PT Mega Manunggal Property Tbk Section 2 Growth Strategy 17
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Slide 23: On The Right Track
PT Mega Manunggal Property Tbk Section 3 On The Right Track 23
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Slide 25: Pipelines (NLA sqm)
PT Mega Manunggal Property Tbk Pipelines (NLA sqm) complected under construction pipelines 330k 440k 274k 143k 106k 31k 338k 164k 230k 2016 2017 2018E 25
Slide 26: Investment property and yield
PT Mega Manunggal Property Tbk 3,000.0 25.0% 2,696.2 2,500.0 2,337.8 20.0% 19.2% 19.4% 18.7% 18.2% 2,000.0 17.1% 17.0% 1,716.5 15.0% 1,572.3 1,515.8 1,500.0 1,451.3 1,249.5 1,093.3 10.0% 9.0% 9.1% 8.7% 9.1% 9.1% 1,000.0 8.3% 732.9 762.4 777.4 620.3 5.0% 500.0 - 0.0% 2013 2014 2015 2016 2017 Q1 '18 (
Slide 27: EBITDA 2017E additional
PT Mega Manunggal Property Tbk 1,000.0 945.8 800.0 600.0 400.0 445.5 200.0 - 2012 2017 140 120 100 80 84 84 60 38 40 20 46 46 - 27 2017E Additional EBITDA Total EBITDA
Slide 28: Strong Growth Opportunity
PT Mega Manunggal Property Tbk Section 4 Strong Growth Opportunity 28
Slide 29: Indonesian logistics sector remains nascent
PT Mega Manunggal Property Tbk The logistics sector in Indonesia remains nascent in comparison to other markets in the region, particularly compared to more mature markets such as Singapore and Australia. Notwithstanding this, the growth potential is huge and there are signs of a fundamental imb
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Slide 32: Economic Growth and Scale
PT Mega Manunggal Property Tbk Economic Growth and Scale Recent disruptions in the commodities markets hit the Indonesian economy hard, but government spending began to pick up in 2015, economic growth started to improve and Indonesia remains the largest economy in Southeast Asia or 16th globally. A
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Slide 37: Toll Roads, Railways, Airports
PT Mega Manunggal Property Tbk Toll Roads Railways Airports This will positively affect the process of delivering goods and services for tenant companies, which becomes competitive advantage for warehouse investment 37
Slide 38: Greater Surabaya expansion target
PT Mega Manunggal Property Tbk In the near future, Gresik, Sidoarjo, and Surabaya will become our expansion target Greater Surabaya Key Industry Served :FMCG, FnB, Electronic, Chemicals Tanjung Perak Port 6 Km 21 Km 22 Km Juanda air Port 35 Km In terms of land prices and availability, Gresik and Sid
Slide 39: Healthy Growth in FMCGs and Retail
PT Mega Manunggal Property Tbk Healthy Growth in FMCGs and Retail Urbanisation and growing wealth is already translating into growth in the FMCG sector and retail sales. This will increase the appeal of the logistics real estate market to a broader spectrum of modern international logistics players.
Slide 40: Indonesia Manufacturing Industry Snapshot
Indonesia Manufacturing Industry Snapshot PT Mega Manunggal Property Tbk Growth Drivers Market Restraints 1. Positive demographics profile 1. Slowing in global economy 2. Robust economic growth 2. Poor logistics infrastructure 3. Large number of middle income class 3. High logistics cost 4. High deg
Slide 41: Indonesia e-Commerce Market Size
PT Mega Manunggal Property Tbk Growth Drivers Market Restraints 1. Positive demographics profile 1. Poor logistics infrastructure 2. Robust economic growth 2. Large unbanked population 3. High ICT adoption 3. Low adoption of cashless payment 4. Large number of local players 4. Limited ICT competency
Slide 42: Greater Jakarta GDRP by Key Industries
PT Mega Manunggal Property Tbk Greater Jakarta GDRP by Key Industries, 2015 (% of GDRP) IDR 257.64 Tn • Wholesale, retail, and automotive sector was 17.0 percent of 2015 GDRP equivalent to IDR 304.65 Trillion • Investment in existing infrastructure, mainly on toll roads, will further amplify logisti
Slide 43: Growth of Service Segment 2011-2016
PT Mega Manunggal Property Tbk Growth of Service Segment 2011- 2016 (f) Government investment plan and initiatives on infrastructure sector are expected to reach IDR 313 trillion in 2016, approximately 8.0% increase from 2015. GDP’s share for transport, storage and courier is estimated grow around 3
Slide 44: Indonesia an attractive target for FDI
Indonesia continues to be an attractive target for FDI PT Mega Manunggal Property Tbk Competitive wages and large domestic market makes Indonesia to be an attractive target for FDI in ASEAN Resilient economy growth and large domestic market are expected to boost investment in Indonesia Low growth, l
Slide 45: Warehouse demand index and land prices
PT Mega Manunggal Property Tbk This shows that demand for warehouse complex in Jabodetabek area is still growing, which this will be great opportunity to invest in the area. Stable land prices over the year encourages acquisition of new lands to satisfy the growing demand in the industry property. W
Slide 46: Large online presence in Indonesia
PT Mega Manunggal Property Tbk The Indonesian population has a large online presence. Internet and mobile internet traffic has increased significantly. While the e-commerce phenomenon has taken hold in many other markets in the region, the sector is still in its infancy in Indonesia and the potentia
Slide 47: Key Financial
PT Mega Manunggal Property Tbk Section 5 Key Financial 47
Slide 48: Net Leasable Area and Occupancy Rate
PT Mega Manunggal Property Tbk 350,000 101.0% 100.0% 300,680 100.0% 99.9% 99.9% 300,000 99.0% 250,000 230,370 98.0% 97.2% 97.0% 200,000 96.8% 163,757 163,911 163,911 96.0% 139,811 150,000 95.0% 94.4% 100,000 94.0% 93.0% 50,000 92.0% 0 91.0% 2013 2014 2015 2016 2017 Q1 2018 Net Leasable Area (m2) Occ
Slide 49: Income statement summary
PT Mega Manunggal Property Tbk (Rp bn) 2014 2015 2016 2017 Q1 ‘18 Q1 ‘17 Y/Y Revenues 141.9 163.5 175.3 208.8 68.0 44.2 53.8% Operating profit 114.3 121.7 117.7 142.4 51.8 31.8 62.7% Finance Costs (43.9) (51.8) (46.8) (52.3) (8.6) (9.7) -11.6% Forex gain / loss – net (15.2) (28.9) 3.3 (0.8) (2.1) 1.
Slide 50: Balance sheet summary
PT Mega Manunggal Property Tbk (Rp bn) 2013 2014 2015 2016 2017 Q1 ‘18 Cash and cash 383 0.65x 0.70x 6 11 105 201 3,500 equivalent Current asset (a) 89 82 519 200 390 0.60x 3,000 Investment properties 1,749 2,037 2,388 3,319 4,592 2,500 0.50x Non current asset (b) 1,751 2,056 2,685 3,766 4,972 0.41x
Slide 51: EBITDA and capex
PT Mega Manunggal Property Tbk 208.8 175.3 163.5 141.9 119.5 68.0 44.2 EBITDA 1,052.0 5,007 4,670 3,284 621.1 567.3 2,551 337.6 1,448 868 103.1 2015 2016 2017 Q1 17 Q1 18 Capex (Rp bn) 51
Slide 52: Operational metrics and revenue by segment
PT Mega Manunggal Property Tbk 2013 2014 2015 2016 2017 1Q 18 Net Leasable Area, m2 Built to suit 111,900 111,900 111,900 111,900 179,735 185,325 Multi tenants 27,911 51,857 52,011 52,011 50,635 115,325 Operational metric Total, m2 139,811 163,757 163,911 163,911 230,370 300,680 Occupancy rate, % Bu
Slide 53: Assets in Details
PT Mega Manunggal Property Tbk Section 6 Assets in Details 53
Slide 54: Asset locations in Greater Jakarta
PT Mega Manunggal Property Tbk Tanjung Priok Seaport Industrial Estate Soek arno-Hatta Ex pansion Area Int’ l Airport Airport warehouse Pondok Ungu warehouse Intirub Business Park Halim PK Airport MM2100 Jababeka LF Warehouse Delta Silicon Cibatu Warehouse Selayar Warehouse Block AE Unilever Warehou
Slide 55: Manyar Warehouse, Surabaya
PT Mega Manunggal Property Tbk MMP properties Tanjung Perak Port Juanda Air Port Toll Roads In Operation Under construction Planning In (Km) Manyar Warehouse Distance to Surabaya 31 Distance to Airport 52 55 Distance to Tanjung Perak Port 29
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Slide 62: Building value delivering result
Building value delivering result PT Mega Manunggal Property Tbk 62
Slide 63: Cawang and Cikunir intersections, MM2100
PT Mega Manunggal Property Tbk Cawang Intersection Cikunir Intersection MM2100 Industrial Estate 63
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Slide 65: Other Financial Info
PT Mega Manunggal Property Tbk Section 7 Other Financial Info 65
Slide 66: Balance sheet 2013-Q1 2018
PT Mega Manunggal Property Tbk Year to Dec 31, Rp mn 2013 2014 2015 2016 2017 *Q1 ’18 % YTD Cash and Equivalents 6,368 11,311 382,973 104,683 201,516 200,945 -0.3% Other current assets 72,054 57,381 127,100 92,962 189,163 227,429 20.2% Property & equipment 1,236 2,107 13,483 13,342 12,327 11,576 -6.
Slide 67: Income statement 2013-Q1 2018
PT Mega Manunggal Property Tbk Year to Dec 31, Rp mn 2013 2014 2015 2016 2017 *Q1 ’18 *Q1 ’17 % Y/Y Revenue 119,486 141,918 163,492 175,320 208,794 67,958 44,196 53.8% Cost of revenue 5,940 13,084 16,059 18,444 20,146 (5,718) (4,702) 21.6% Gross profit 113,546 128,834 147,432 156,875 188,647 62,234
Slide 68: Cash flow statement
PT Mega Manunggal Property Tbk Rp mn 2016 2017 *Q1 ’18 *Q1 ’17 % Y/Y Cash flow from operating activities Cash Receipt from Customer 221,769 226,867 84,417 109,945 -23.2% Payment to Supplier and Others (53,098) (131,671) (32,371) (20.011) 61.8% Tax paid (20,404) (20,594) (7,916) (10,190) -22.3% Inter
Slide 69: Thank you
PT Mega Manunggal Property Tbk Thank you
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PT Mega Manunggal Property — Q1 2018 Earnings Presentation on 6ix