PT ABM Investama Tbk · IDX:ABMM
PT ABM Investama Tbk — FY2011 Earnings Presentation
40 slides from PT ABM Investama Tbk's earnings presentation, Apr 3, 2012
Slide 1: Company Presentation: Analyst Meeting Full Year 2011
COMPANY PRESENTATION Analyst Meeting Full Year 2011 Jakarta, 3 April 2012
Slide 2: Table of Contents
Table of Contents Introduction & FY 2011 Highlight p.3 Financial Overview p.8 Operational Overview . SBU: PT Reswara Minergi Hartama (Reswara) – Coal Production p.16 SBU: PT. Cipta Kridatama (CK) – Contract Mining Services p.25 SBU: PT. Sumberdaya Sewatama (SS) – Power Solutions p.30 SBU: PT.Sanggar
Slide 3: Introduction & FY 2011 Highlight
INTRODUCTION & FY 2011 HIGHLIGHT 3
Slide 4: Business Strategies
Business Strategies ABM is an integrated energy company with three key business units in contract mining services, coal production, and power solutions, supported by two crucial components of engineering services and integrated logistics • Among the top 5 mining contractors in Indonesia. • Provides
Slide 5: ABM's Five SBUs
ABM’s Five SBUs Contract Power Coal Engineering Integrated Mining Solutions Production Services Logistics Services • Established 1997 • Established 1992 • Established 2010 • Established 1977 • Established 2006 • Fleet of 524 heavy • Approximately 813 • 7,703 hectares • 10 engineering services • Oper
Slide 6: Key Financial Highlights
Key Financial Highlights PT ABM Investama’s Tbk Full Year 2011 performance continued to demonstrate increase in revenue and 226% jumped in Net Profit Financial Highlight FY 2011 (Audited) (in Rp million) 2011 2010 Growth Revenue 6,626,275 4,486,419 47.70% Gross Profit 1,381,717 713,025 93.80% Operat
Slide 7: Business Update after IPO Dec 6, 2011
Business Update after IPO Dec 6, 2011 1. In Dec 2011, we made repayments company loans to Bank Permata amounting to Rp 225 billion and in January 2012 to DBS Bank in Singapore amounting to US$13 million (approximately Rp 119 billion) 2. In Dec 2011 and January 2012 – PT Reswara Minergi Hartama (Resw
Slide 8: Financial Review
FINANCIAL REVIEW 8
Slide 9: Income Statement Consolidation & Margins
Income Statement Consolidation & Margins Income Statement 2011 2010 Consolidated (Rp mn) REVENUE 6.626.275 4.486.419 GROSS PROFIT 1.381.717 713.025 Gross Profit Margin 20,9% 15,9% OPERATING PROFIT 656.022 315.772 Operating Profit Margin 9,9% 7,0% EBITDA 1.209.095 747.414 Ebitda Margin 18,2% 16,7% Pr
Slide 10: Balance Sheet & Key Ratios
Balance Sheet & Key Ratios Balance Sheet 2011 2010 Consolidated TOTAL ASSET 9.883.180 4.959.956 Cash & Cash Equivalent 1.668.670 433.039 Total Equity 3.023.006 369.140 Gross Debt 4.928.352 2.681.186 Net Debt 3.259.682 2.248.147 Net Debt to Ebitda Ratio 269,6% 300,8% Current Ratio 1,36 0,7 DER 1,6 7,
Slide 11: Revenue CAGR 2008-2011
Revenue CAGR 2008-2011 7.000 6.626 5.000 4.486 3.926 3.235 3.000 1.000 2008 2009 2010 2011 11
Slide 12: Strong Net Income & Income from Operations
Strong Net Income & Income from Operations Net Income- Year Ended Dec 31- IDR bn 6% 8% 450 300 3% 415 4% 150 (0%) (11) 127 0% 0 (150) (4%) 2009 2010 (4) 2011 Net Income Margin Income from Operations– in Rp bn - Year Ended Dec 31 13% 10% 15% 7% 656 0% 491 316 0 (15%) 2009 2010 2011 Income / (Loss) fr
Slide 13: Breakdown by Subsidiaries
Breakdown by Subsidiaries Revenue by SBU exclude elimination- Year Ended Dec 31, 2011) 47% 14% 14% 13% 11% 3.338 3.000 2.000 1.006 1.006 912 820 1.000 0 CK SSB SS Reswara CKB Income from Operations by SBU- Exclude Elimination Year Ended Dec 31, 2011) 44% 34% 10% 6% 6% 450 362 350 286 250 150 86 51 4
Slide 14: Consolidated Balance Sheet
Consolidated Balance Sheet Total Debt – IDR bn - Year Ended Dec 31 6.000 4.000 3.565 2.000 1.216 1.211 713 1.363 0 463 2009 2010 2011 Short Term Long Term Total Debt / Equity - Year Ended Dec 31 500% 400% 334% 281% 300% 227% 200% 100% NM 0% 2009 2010 2011 14
Slide 15: Operational Overview
OPERATIONAL OVERVIEW 15
Slide 16: PT. Reswara Minergi Hartama (Reswara) – Coal Production
PT. Reswara Minergi Hartama (Reswara) – Coal Production TIA Operations Reswara • Coal mining conducted through Reswara’s 2 subsidiaries • PT Tunas Inti Abadi (“TIA”, 99.99% ownership), located in South Kalimantan Province. • PT Media Djaya Bersama (“MDB”, 70% ownership), located in Aceh Province • P
Slide 17: PT. Tunas Inti Abadi - Income Statement
PT. Tunas Inti Abadi- Income Statement TIA (Parent) – Income Statement 2011 2010 REVENUE 912.257 393.589 GROSS PROFIT 229.180 14.372 Gross Profit Margin 25,1% 3,7% OPERATING PROFIT 51.424 (49.692) Operating Profit Margin 5,6% -12,6% EBITDA 59.450 (44.186) Ebitda Margin 6,5% -11,2% Profit Before Tax
Slide 18: Reswara's Coal Sales and Productions Volume
Reswara’s Coal Sales and Productions Volume ‘000 tons 2500 2163 2000 1500 1179 1000 500 69,5 0 2009 2010 2011 18
Slide 19: Coal Resources, Reserves and Concession
Coal Resources, Reserves and Concession TIA MDB Total Total Resources: 561 Million Tons TIA Coal Reserves 18.9% (MT) Proved Reserves 13 7 20 Probable 39 162 201 Reserves MDB Total Reserves 52 169 221 81.1% Coal Resources Total Reserves: 221 Million Tons Measured 32 18 50 TIA 23.5% Indicated 39 289 3
Slide 20: Location: Aceh and South Kalimantan
Location: Aceh and South Kalimantan MDB Site (Aceh Province) TIA Site (South Kalimantan Province ) Central Kalimantan Balikpapan Palangkaraya Indonesia South Kalimantan Kalimantan Banjarmasin Tunas Inti Abadi Project Area 20
Slide 21: Site Layout – Concession Area
Site Layout – Concession Area PT Tunas Inti Abadi PT Media Djaya Bersama • TIA was acquired in Dec 2007, commenced commercial • 70% ownership in MDB production in Aug 2009 and coal sales in Oct 2009 • To begin coal production in 2012 by using existing • Coal mining is contracted to ABM subsidiary, C
Slide 22: View of TIA Operations, South Kalimantan
View of TIA Operations, South Kalimantan Coal Productions TIA - Average Strip Ratio 100 14,6 10 4,7 4,74 1 2009 2010 2011 22
Slide 23: Concession Breakdown and Coal Characteristic
Concession Breakdown and Coal Charracteristic Coal Characteristics TIA MDB Calorific Value (Adb) 5,370 kcal/kg 5,310 kcal/kg Caloric Value (GAR) 3,960 kcal/kg 3,440 kcal/kg Total Moisture (AR) 37.4% 43.8% Ash Content (Adb) 5.7% 4.6% Sulfur (Adb) 0.15% 0.16% Concession Breakdown Current Expiry Date C
Slide 24: Cash Cost – Average Selling Price (ASP)
Cash Cost – Average Selling Price (ASP) TIA - Average Selling Price US$ / ton Year Ended Dec 31 48,1 50 37,1 28,4 25 0 2009 2010 2011 TIA - Total Cash Cost Year Ended Dec 31 50 43,4 39,4 38,6 25 0 2009 2010 2011 24
Slide 25: PT. Cipta Kridatama (CK) - Contract Mining Services
PT. Cipta Kridatama (CK)- Contract Mining Services Contract Mining Operations Brief as of Dec 2011 • Top 5 contract mining service in Indonesia by overburden removal • Full end-to-end “pit to port” contract mining services from exploration(2), mine planning, overburden removal, coal extraction and l
Slide 26: PT Cipta Kridatama (CK) - Income Statement
PT Cipta Kridatama (CK)- Income Statement CK- Income Statement 2011 2011 REVENUE 3.338.738 2.222.356 GROSS PROFIT 415.648 185.583 Gross Profit margin 12,4% 8,4% OPERATING PROFIT 361.833 108.074 Operating Profit Margin 10,8% 4,9% EBITDA 570.171 327.234 Ebitda Margin 17,1% 14,7% Profit Before Tax 295.
Slide 27: CK's Overburden Removal
CK’s Overburden Removal Million BCM 118,0 104,2 100,0 100 73,8 75 50 25 2008 2009 2010 2011 27
Slide 28: CK's Type of Heavy Equipment & Average Age
CK’s Type of Heavy Equipment & Average Age Type of equipment Dec 31, 2011 Capacity Number of units Average age (in years) Excavator 250 - 350 tons 15 4– 4.6 20 - 100 tons 95 1 - 6.3 Truck 30 - 100 tons 279 1 - 6.6 Dozer 76 3.8 Grader 14 - 16 feet 38 1.3-5.4 Wheel loader 8 2.6 Compactor 12 7.1 Drill
Slide 29: CK's Current Customers & Outstanding Contract Value
CK’s Current Customers & Outstanding Contract Value Operating Agreements Estimated Outstanding Contracted Volume of Coal / Kalimantan Concession Mining Project Expected Contract Duration Overburden Holder Sites (Million Tons / Million BCM) as of Dec 31, 2011(3) Mahakan Samarinda, East 1 From Jun 14,
Slide 30: PT Sumber Daya Sewatama (SS) – Power Solutions
PT Sumber Daya Sewatama (SS) – Power Solutions SS Operations- PLTD Bitung Menado Services Offer • Provides power solutions mainly to utility sector customers • 934 MW of electricity generation capacity as of Dec 31, 2011 Temporary Power • Main customer is PT PLN (Persero) (“PLN”), • Utility customer
Slide 31: PT Sumberdaya Sewatama (SS) - Income Statement
PT Sumberdaya Sewatama(SS)- Income Statement SS- Income Statement 2011 2010 REVENUE 1.006.469 802.965 GROSS PROFIT 388.963 190.414 Gross Profit Margin 38,6% 23,7% OPERATING PROFIT 286.524 115.314 Operating PM 28,5% 14,4% EBITDA 561.343 271.621 Ebitda Margin 55,8% 33,8% Profit Before Tax 213.426 96.5
Slide 32: Revenue By Division and Key Customers
Revenue By Division and Key Customers Year Ended Dec 31, 2010 Year Ended Dec 31, 2011 Other Services(2) Other Services(2) 5.5% 4.3% Temporary Power 95.7% Temporary Power 94.5% Key Customers PT PLN (Persero) Revenue Contribution from PLN to SS 100% 75% 50% 78,2% 81,8% 84,2% 25% 0% 2009 2010 2011 32
Slide 33: Diesel Genset is the majority of Generators
Diesel Genset is the majority of Generators Average Average Age as of Number of Units as Capacity Useful Life Dec 31, 2011 Model of Dec 31, 2011 (kW) (Yrs) (2) (Yrs) Diesel 808 925,159 10 5.6 Generator Sets Gas Generator 5 8,662 15 2 Sets Total 813 933,821 33
Slide 34: Electricity Generations Capacity & Lease Rate
Electricity Generations Capacity & Lease Rate Electricity Generation Capacity and Average – Utilization Rate Utilization Rate in MW 1.000 934 80% 758 792 800 638 75% 600 74% 74% 70% 72% 400 70% 200 65% 0 60% 2008 2009 2010 2011 Electricity Generation Capacity Average Utilization Rate Average Lease R
Slide 35: PT. Sanggar Sarana Baja (SSB) – Engineering Services
PT. Sanggar Sarana Baja (SSB) – Engineering Services SSB Operations- Site SErvices SSB –Remanufacturing Business Transport Designing, manufacturing and distributing Equipment products for transportation and material Division handling business Site Services On-site repair, process plant maintenance D
Slide 36: PT Sanggar Sarana Baja (SSB) - Income Statement
PT Sanggar Sarana Baja (SSB) - Income Statement SSB- Income Statement 2011 2010 REVENUE 1.006.083 844.208 GROSS PROFIT 214.596 184.741 Gross Profit Margin 21,3% 21,9% OPERATING PROFIT 46.438 56.326 Operating Profit Margin 4,6% 6,7% EBITDA 91.766 92.461 Ebitda Margin 9,1% 11,0% Profit Before Tax 15.2
Slide 37: PT. Sanggar Sarana Baja (SSB) – Operations
PT. Sanggar Sarana Baja (SSB) – Operations SSB –Transportation Operations SSB Re-manufacturing Operations SSB –Fabrication 37
Slide 38: PT. Cipta Krida Bahari (CKB) – Integrated Logistic
PT. Cipta Krida Bahari (CKB) – Integrated Logistic Business Overview • Integrated logistics provider offering freight forwarding, project logistics, industrial / offshore and coal logistics shipping, warehouse and shorebase management services • Freight forwarding services: Integrated logistics serv
Slide 39: PT Cipta Krida Bahari (CKB) - Income Statement
PT Cipta Krida Bahari (CKB) - Income Statement CKB (Parent )– Income Statement 2010 2011 REVENUE 819.917 511.404 GROSS PROFIT 182.541 116.297 Gross Profit Margin 22,3% 22,7% OPERATING PROFIT 85.989 38.882 Operating Profit Margin 10,5% 7,6% EBITDA 92.775 48.227 Ebitda Margin 11,3% 9,4% Profit Before
Slide 40: Investor Relations Contact
Gedung TMT 1, 18th Fl, Suite 1802 Jl Cilandak KKO No.1 Contact Jakarta 12560 - Indonesia Investor Relations Errinto Pardede Tel:6221-2997-6767 Ext.1874 Fax : 6221-2997-6768 Email : errinto.pardede@abm-Investama.co.id Email : ir@abm-investama.co.id Website : www.abm-investama.com 40