Pt Mega Manunggal Property Tbk · IDX:MMLP
Pt Mega Manunggal Property Tbk — Investor Presentation (December 2018)
70 slides from Pt Mega Manunggal Property Tbk's investor presentation, December 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 8: MMLP effective ownerships
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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: PT Mega Manunggal Property Tbk 24 x 18 and 32 x 18
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Slide 14: Net leasable area growth
PT Mega Manunggal Property Tbk 300,680 230,370 163,911 163,911 118,199 139,811 2013 2014 2015 2016 2017 2018 14
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Slide 16: Projects map
PT Mega Manunggal Property Tbk DKI Jakarta (Jatiwarana) BEST Operational Contract signed Jawa Barat In construction Negotiation/tender (Cimanggis) 16
Slide 17: Tenant sector breakdown
PT Mega Manunggal Property Tbk 1% 6% 19% 37% 37% Manufacture Logistics E-commerce Trading Others 17
Slide 18: Growth Strategy
PT Mega Manunggal Property Tbk Section 2 Growth Strategy 17
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Slide 24: On The Right Track
PT Mega Manunggal Property Tbk Section 3 On The Right Track 23
Slide 25: Cikarang DHL built-to-suit project
PT Mega Manunggal Property Tbk Location : Cikarang, Bekasi Land area : 100,000 m2 Net leasable area : 67,000 m2 Tenant : DHL Lease period : 10 years Estimated full completion : 4Q 2020 25
Slide 26: Under construction, completed and pipeline area
PT Mega Manunggal Property Tbk 900k 800k 700k 299k 600k 500k 400k 300k 404k 301k 200k 230k 100k 71k 103k 100k k 2017 2018 2019 Under construction Completed Pipelines 26
Slide 27: Investment property at cost and fair value
PT Mega Manunggal Property Tbk 4,000 20.0% 3,588 18.0% 3,500 17.6% 17.1% 16.8% 16.0% 3,000 15.2% 2,852 15.0% 14.0% 13.3% 2,500 12.0% 2,155 2,000 10.0% 1,787 8.7% 1,612 1,643 8.7% 1,607 8.8% 8.4% 8.0% 1,500 7.8% 7.5% 1,302 6.0% 1,000 827 833 848 672 4.0% 500 2.0% - 0.0% 2013 2014 2015 2016 2017 2018
Slide 28: Strong Growth Opportunity
PT Mega Manunggal Property Tbk Section 4 Strong Growth Opportunity 28
Slide 29: Indonesian logistics sector outlook
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) Wholesale,Re tail Mining & 17% quarrying, Construction 7.6% 13% Processing Industry 14% IDR 257.64 Financial Tn Service and Insurance 10% Other Services , 39% Communicati on, 3.5% • Wholesale, retail, and automot
Slide 43: Growth of Service Segment
PT Mega Manunggal Property Tbk Growth of Service Segment 2011- 2016 (f) 40.0% 35.0% Government investment plan and initiatives on 30.0% infrastructure sector are expected to reach IDR 313 trillion in 2016, approximately 8.0% increase from 25.0% 2015. 20.0% 15.0% 10.0% 5.0% GDP’s share for transport,
Slide 44: Indonesia continues to be 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 industrial 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
PT Mega Manunggal Property Tbk 350,000 101.0% 100.0% 300,680 99.9% 300,000 100.0% 99.4% 250,000 230,370 99.0% 200,000 158,137 163,911 163,911 98.0% 150,000 139,811 97.8% 97.0% 100,000 97.2% 96.8% 50,000 96.0% - 95.0% 2013 2014 2015 2016 2017 FY 18 48
Slide 49: Income statement summary
PT Mega Manunggal Property Tbk (Rp bn) 2014 2015 2016 2017 2018 YoY (%) Revenues 141.9 163.5 175.3 208.8 299.2 43.3 Operating profit 114.3 121.7 117.7 142.4 216.3 51.8 IDR miliar Finance Costs (43.9) (51.8) (46.8) (52.3) (47.5) (9.2) Forex gain / loss – net (15.2) (28.9) 3.3 (0.8) (9.2) 963.6% Chang
Slide 50: Balance sheet summary
PT Mega Manunggal Property Tbk (Rp bn) 2013 2014 2015 2016 2017 2018 Cash & cash equivalent 6 11 383 105 201 152 6,000 0.70x Current asset (a) 89 82 519 200 390 398 0.65x 5,000 0.60x Investment properties 1,749 2,037 2,388 3,319 4,592 5,270 Non current asset (b) 1,751 2,056 2,685 3,766 4,972 5,693 0
Slide 51: Revenues, EBITDA, equity and CAPEX
PT Mega Manunggal Property Tbk 250.0 220.2 299.2 200.0 208.8 145.9 175.3 150.0 122.9 120.8 163.5 106.3 115.1 119.5 100.0 62.1 50.0 - 2013 2014 2015 2016 2017 2018 2013 2014 2015 2016 2017 2018 Revenues EBITDA 6000 5,308 1,056 5000 4,670 4000 3,284 607 3000 2,551 533.30 2000 1,447.50 287 867.2 1000 1
Slide 52: Multi tenant and built to suit metrics
2013 2014 2015 2016 2017 2018 Net Leasable Area, m2 Built to suit 111,900 111,900 117,520 117,520 185,355 185,355 Multi tenants 27,911 46,237 52,011 46,391 45,015 115,325 Operational metric Total, m2 139,811 158,137 163,911 163,911 230,370 300,680 Occupancy rate, % Built to suit 100% 98% 97% 100% 10
Slide 53: Assets in Details
PT Mega Manunggal Property Tbk Section 6 Assets in Details 53
Slide 54: Greater Jakarta warehouse locations
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 and toll roads
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
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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 detail
PT Mega Manunggal Property Tbk Year to Dec 31, Rp mn 2013 2014 2015 2016 2017 Cash and Equivalents 6,368 11,311 382,973 104,683 201,516 152,175 -24.5% Other current assets 72,054 57,381 127,100 92,962 189,163 245,981 30.0% Property & equipment 1,236 2,107 13,483 13,342 12,327 11,917 -3.3% Investment
Slide 67: Income statement detail
PT Mega Manunggal Property Tbk Year to Dec 31, Rp mn 2013 2014 2015 2016 2017 Revenue 119,486 141,918 163,492 175,320 208,794 Cost of revenue 5,940 13,084 16,059 18,444 20,146 Gross profit 113,546 128,834 147,432 156,875 188,647 G&A 7,944 14,616 25,754 39,143 46,202 Operating profit 105,602 114,218
Slide 68: Cash flow statement
PT Mega Manunggal Property Tbk Rp mn 2016 2017 Cash flow from operating activities Cash Receipt from Customer Payment to Supplier and Others Tax paid Interest paid Net cash provided by operating activities Cash flow from investing activities Acquisition of Investment Properties Other investment acti
Slide 69: Thank you
PT Mega Manunggal Property Tbk Thank you
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PT Mega Manunggal Property — Investor Presentation (December 2018) on 6ix