Pt Sunindo Pratama Tbk · IDX:SUNI
Pt Sunindo Pratama Tbk — FY2023 Earnings Presentation
41 slides from Pt Sunindo Pratama Tbk's earnings presentation, Apr 1, 2024
Slide 1: Analyst Meeting Financial Performance 4Q-2023
Analyst Meeting Financial Performance 4Q-2023 Jakarta, 1 April 2024 1
Slide 2: Company Profile
Chapter 1 Company Profile 2
Slide 3: Company Brief
Company Brief PT Sunindo Pratama Tbk (SUNI) was established in With the underserved market September 2002 as the player in the oil & gas for tubing products in supporting business and the pioneer in Indonesia for seamless Oil Country Tubular Goods (OCTG) Indonesia coupled with the tubing as our bigg
Slide 4: Why Invest in SUNI?
Why Invest in SUNI? 01 STRATEGIC ASSET 02 SEAMLESS PIONEER PIPES 03 DOMESTIC MARKET CAPTIVE 04 ALIGNED WITH GOVERNMENT POLICY ON TKDN PT Rainbow Tubulars Manufacture (RTM) as The only company in Indonesia, Underserved markets for tubing High local content (TKDN) in-house OCTG tubing producers provid
Slide 5: Milestone
Milestone The Company supplied to the First project in Oil & Gas that Geothermal industry for the setup the Company to focus in first time by winning 2 Oil & Gas Industries (start in The Company obtained ISO The Company obtained ISO Purchase Orders from Star Oil & Gas Industries) 9001: 2008 Certific
Slide 6: BOD & BOC Profile
BOD & BOC Profile The Company possesses an experienced management team with over 10 years of expertise in supporting activities for oil and gas exploration, development, and production. Bambang Prihandono Willy Johan Chandra Soe To Tie Lin Harry Wiguna Director President Director President Commissio
Slide 7: Corporate Structure
Corporate Structure BID) Soe To Tie Lin Public os 24,00% Chandra »/ 11,40% \ PT Sunindo Pratama Tbk PT Rainbow Tubulars Manufacture 99,96% PT Petro Synergy Manufacturing 60%
Slide 8: Line of Business
Line of Business Product Services SUNI 3 Main Products 1. OCTG Tubing (RTM Products) Size: 2-3/8” to 4-1/2” 1. OCTG Casing Size: 4-1/2” to 20” 1. Wellhead and Christmas Tree OCTG Casing OCGT Tubing Wellhead and Christmas Tree Most popular products 1. Tubing: Wellhead Installation and Size: 2-3/8”, 2
Slide 9: Drilling Sequence
Drilling Sequence Christmas Tree Wellhead Surface Line Pipe Tubing Casing 9
Slide 10: Business Process in Our Strategic Assets
Business Process in Our Strategic Assets OCTG Tubing In-house Manufacturing Process in PT Rainbow Tubulars Manufacture 1 Green Pipe (Hot Rolling Process) 2 Pipe End Upset 3 Pipe Heat Treatment 4 Customizing (Finish Product & Threading) 5 Final Process Formation process from raw materials into Heatin
Slide 11: SUNI Certificates
SUNI Certificates 2022 SUNI Quality 2023 SUNI as Management System Registered Certified Geothermal Service by ISO 9001:2015 Company by EBTKE 11
Slide 12: RTM Certificates
RTM Certificates LICENSE API-5CT ISO QMS , ISO 14001, ISO 45001 API SPEC Q1, 9TH EDITION LOCAL CONTENT (TKDN) LICENSE API-5L 12
Slide 13: RTM Awards
RTM Awards 2022 Appreciation from SKK 2022 Appreciation from the 2023 Appreciation from the Migas to RTM as a local Director General of Oil and Director General of Oil and company that passed the Gas, Ministry of Energy and Gas, Ministry of Energy and Assessment and Development Mineral Resources, fo
Slide 14: Strategy & Target
Chapter 2 Strategy & Target 14
Slide 15: Management Highlight 2023
Management Highlight 2023 Sustainable Solid Improving Strong Profitability Balance Sheet Cash Flow Operations Operating revenues Equity Operating activities Sales volume in 12M 2023 12M 2023 +41.1% YoY to IDR762.4 Bn 4Q 2023 +54.5% YoY to IDR588.3 Bn 12M 2023 -136% YoY to -IDR29.7 Bn OCTG tubing +10
Slide 16: Our Strategy in 2023
Our Strategy in 2023 01 Maintaining good communication 04 Establishing strategic partnership with regulators with local and foreign players Participating in the National Capacity Forum (Kapasitas PT Elnusa Fabrikasi Konstruksi, Jiangsu Jinshi Machinery Nasional) with SKK Migas and Directorate Genera
Slide 17: Our Target Achievement in 2023
Our Target Achievement in 2023 2023 2023 Achievement No Indicator Unit a b b/a Target Actual % High grade K ton 6.7 5.4 79.6 OCTG tubing Low grade K ton 8.2 9.9 120.7 1 Operational Total K ton 15.0 15.3 102.2 OCTG casing K ton 7.0 11.7 166.6 Wellhead unit 50.0 53.0 106.0 Operating revenue billion ID
Slide 18: Our Strategic Plan in 2024
Our Strategic Plan in 2024 01 Increasing the production capacity of 03 Market diversification seamless pipe/OCTG tubing Resume export market ● Increasing capital injection by IDR152.8 Bn to expand capacity ● Groundbreaking of RTM plant 2 02 Product diversification and actively 04 JV with JMP - PT Pe
Slide 19: Our Target in 2024
Our Target in 2024 Change 2023 2024 No Indicator Unit b/a Actual Target % High grade ton 5.4 8.0 48.9 OCTG tubing Low grade ton 9.9 12.0 20.6 1 Operational Total ton 15.3 20.0 30.5 OCTG casing ton 11.7 8.8 (24.4) Wellhead unit 53.0 49.0 (7.5) Operating revenue billion IDR 762.4 923.6 21.1 Profitabil
Slide 20: Operational Performance
Chapter 3 Operational Performance 20
Slide 21: OCTG Tubing Performance
OCTG Tubing Performance OCTG Sales Volume 12M 2023 +10.5% YoY to 15.3K ton CAGR* 36.4% 15.3 13.9 6.2 Share of volume OCTG segment in 12M 2023: 3.4 4.0 Tubing low grade : 64.9% 2.8 2.4 Tubing high grade : 35.1% 4Q 2022 1Q 2023 2Q 2023 3Q 2023 4Q 2023 12M 2022 12M 2023 Low grade 2,185.6 2,267.6 2,128.
Slide 22: OCTG Casing Performance
OCTG Casing Performance OCTG Casing Sales Volume 11.7 12M 2023 +304.7% YoY to 11.7K ton 4Q 2023 +1,163.6% YoY to 8.5K ton CAGR* 16.9% 8.5 3.1 2.9 0.7 0.0 4Q 1Q 2Q 3Q 4Q 12M 12M 2022 2023 2023 2023 2023 2022 2023 *CAGR 2018-2023 in thousand ton 22
Slide 23: Wellhead Performance
Wellhead Performance Wellhead Sales Volume 60 12M 2023 -11.7% YoY to 53 unit 53 4Q 2023 +61.5% YoY to 21 unit CAGR* 10.6% 20 21 13 11 1.0 4Q 1Q 2Q 3Q 4Q 12M 12M 2022 2023 2023 2023 2023 2022 2023 *CAGR 2018-2023 in unit 23
Slide 24: Financial Performance
Chapter 4 Financial Performance 24
Slide 25: The OCTG Sales Contributes the Most to Top Line
The OCTG Sales Contributes the Most to Top Line Operating Revenues Sales Segment 12M 2023 +41.1% YoY to IDR762.4 Bn 12M 2023 +46.7% YoY to IDR759.1 Bn 4Q 2023 +72.0% YoY to IDR285.8 Bn 4Q 2023 +84.5% YoY to IDR282.4 Bn CAGR* 18.5% CAGR* 29.4% 762.4 759.1 The growth in sales segments Operating 540.3
Slide 26: Gross Profit Increases by 37.4% YoY in 4Q 2023
Gross Profit Increases by 37.4% YoY in 4Q 2023 Gross Profit Margin Sales Segment 12M 2023 +25.5% YoY to IDR179.1 Bn 12M 2023 +32.8% YoY to IDR177.5 Bn 4Q 2023 +37.4% YoY to IDR49.1 Bn 4Q 2023 +42.1 time YoY to IDR47.5 Bn CAGR* 19.8% CAGR* 28.5% 26.4% 25.9% 23.4% 23.5% The decrease in gross profit ma
Slide 27: Net Profit Increases by 102.1% YoY in 4Q 2023
Net Profit Increases by 102.1% YoY in 4Q 2023 12M 2023 +38.6% YoY to IDR100.9 Bn 4Q 2023 +102.1% YoY to IDR27.3 Bn CAGR* 35.1% 13.5% 13.2% The net profit margin slightly inched down due to the increased sales volume of OCTG casing, 100.9 which has a smaller margin compared to OCTG 72.7 tubing direct
Slide 28: Solid Balance Sheet Meets Credit Covenants
Solid Balance Sheet Meets Credit Covenants Assets Liability Equity 4Q 2023: 48.4% YoY 4Q 2023: 32.9% YoY 4Q 2023: 54.5% YoY 3.9 0.5 0.4 2.8 0.3 788.9 0.1 531.8 588.3 151.0 200.6 380.8 4Q 2022 4Q 2023 4Q 2022 4Q 2023 4Q 2022 4Q 2023 Asset Liability Equity in billion Rupiah Current ratio (min 1 time)
Slide 29: Managing Healthy Cash Flow
Managing Healthy Cash Flow Cash from operating Cash from investing Cash from financing 12M 2023 -136% YoY to IDR29.7 12M 2023 +26.7 time YoY to IDR121.3 Bn 12M 2023 +57.9 time YoY to IDR174.1 Bn 4Q 2023 +166.4% YoY to IDR84.5 Bn 4Q 2023 +26.7 time YoY to IDR55.9 Bn 4Q 2023 -4,519.0 time YoY to IDR13
Slide 30: Appendix
Chapter 5 Appendix 30
Slide 31: The OCTG Sales Contributes the Most to Top Line
The OCTG Sales Contributes the Most to Top Line Operating Revenues Sales Segment 12M 2023 +41.1% YoY to IDR762.4 Bn 12M 2023 +46.7% YoY to IDR759.1 Bn 4Q 2023 +72.0% YoY to IDR285.8 Bn 4Q 2023 +84.5% YoY to IDR282.4 Bn CAGR* 18.5% CAGR* 29.4% 759.1 762.4 540.3 517.3 Operating revenues segment 282.4
Slide 32: Gross Profit Increases by 37.4% YoY in 4Q 2023
Gross Profit Increases by 37.4% YoY in 4Q 2023 Gross Profit Margin Sales Segment 12M 2023 +25.5% YoY to IDR179.1 Bn 12M 2023 +32.8% YoY to IDR177.5 Bn 4Q 2023 +37.4% YoY to IDR49.1 Bn 4Q 2023 +42.1 time YoY to IDR47.5 Bn CAGR* 19.8% CAGR* 28.5% 36.4% 36.5% 25.9% 25.4% 23.4% 23.4% 25.5% 26.4% 23.1% 1
Slide 33: Net Profit Increases by 102.1% YoY in 4Q 2023
Net Profit Increases by 102.1% YoY in 4Q 2023 12M 2023 +38.6% YoY to IDR100.9 Bn 4Q 2023 +102.1% YoY to IDR27.3 Bn CAGR* 35.1% 20.3% 21.2% The net profit margin slightly inched down due to the increased sales volume of OCTG casing, which 14.0% 13.6% 13.5% 13.2% has a smaller margin compared to OCTG
Slide 34: Solid Balance Sheet Meets Credit Covenants
5.78 Solid Balance Sheet Meets Credit Covenants Assets Liability Equity 4Q 2023: 48.4% YoY 4Q 2023: +32.9% YoY 4Q 2023: +54.5% YoY 5.0 0.7 0.7 0.4 4.1 4.0 3.9 0.2 0.3 0.5 0.3 2.8 788.9 00 710.3 747.8 605.1 588.3 531.8 0.0 506.0 532.2 561.3 0.1 380.8 151.0 178.0 186.6 200.6 99.1 4Q 1Q 2Q 3Q 4Q 4Q 1Q
Slide 35: Managing Healthy Cash Flow
Managing Healthy Cash Flow Cash from operating Cash from investing Cash from financing 12M 2023 -136% YoY to -IDR29.7 12M 2023 +26.7 time YoY to IDR121.3 Bn 12M 2023 +57.9time YoY to IDR174.1 Bn 4Q 2023 +166.4% YoY to IDR84.5 Bn 4Q 2023 +26.7 time YoY to IDR55.9 Bn 4Q 2023 -4,519.0 time YoY to IDR13
Slide 36: Consolidated Operational Performance
Consolidated Operational Performance Operational Indicator 4Q 2022 1Q 2023 2Q 2023 3Q 2023 4Q 2023 % 12M 2022 12M 2023 % a b c d e e/a f g g/f Sales (in quantity) OCTG tubing High grade 1.2 0.6 1.8 2.7 0.3 (76.0) 6.5 5.4 (16.8) Low grade 2.2 2.3 2.1 3.5 2.1 (5.2) 7.4 9.9 34.3 Total OCTG tubing (K to
Slide 37: Consolidated Statements of Profit (Loss)
Consolidated Statements of Profit (Loss) (Currency in billion IDR, unless stated otherwise) INDICATOR 4Q 2022 1Q 2023 2Q 2023 3Q 2023 4Q 2023 Chg (%) 12M 2022 12M 2023 Chg (%) REVENUES Sale of goods 153.1 140.9 121.6 214.2 282.4 84.5 517.3 759.1 46.7 Services 13.1 0.5 0.3 (0.8) 3.3 (74.5) 23.0 3.3 (
Slide 38: Consolidated Statements of Financial Position
Consolidated Statements of Financial Position (Currency in billion IDR, unless stated otherwise) INDICATOR 4Q 2022 1Q 2023 2Q 2023 3Q 2023 4Q 2023 Chg (%) ASSETS Current Assets 390.1 466.0 510.2 549.5 537.1 37.7 Non Current Assets 141.6 139.0 200.0 198.3 251.8 77.8 Total Asset 531.8 605.1 710.3 747.
Slide 39: SUNI Meets the Minimum Requirements of Credit Covenant
SUNI Meets the Minimum Requirements of Credit Covenant (Currency in billion IDR, unless stated otherwise) INDICATOR 4Q 2022 1Q 2023 2Q 2023 3Q 2023 4Q 2023 Chg (%) Short Term Debt FINANCIAL DEBT Current Maturity Long Term Liabilities Bank Loan Lease Liabilities 2.9 0.1 2.9 0.1 39.7 0.1 45.9 0.1 12.9
Slide 40: Consolidated Statements of Cash Flow
Consolidated Statements of Cash Flow (Currency in billion IDR, unless stated otherwise) INDICATOR 4Q 2022 1Q 2023 2Q 2023 3Q 2023 4Q 2023 Chg (%) 12M 2022 12M 2023 Chg (%) CASH FLOW Cash Flows From Operating 31.7 (64.6) (62.7) 13.2 84.5 166.4 82.3 (29.7) (136.0) Cash Flows From Investing Activities
Slide 41: Thank You
Jl. Prof. Dr. Soepomo SH. No. 48 Tebet Jakarta Selatan 12870 Indonesia +62 21 8378 5773 +62 21 8378 5776 Thank You general@sunindogroup.com 41