Pt Sri Rejeki Isman Tbk · IDX:SRIL
Pt Sri Rejeki Isman Tbk — Investor Presentation (June 2017)
30 slides from Pt Sri Rejeki Isman Tbk's investor presentation, June 2017
Slide 1: Management Presentation Financial Statements 30 June 2017
MANAGEMENT PRESENTATION FINANCIAL STATEMENTS 30 JUNE 2017
Slide 2: Table of Contents
2 TABLE OF CONTENTS Company Overview Business Overview Strategy in 2017 Performance 1H 2017 Projection for FY 2017
Slide 3: Company Overview
3 COMPANY OVERVIEW • A Leader in Southeast Asia’s Textile Industry 1 • Vertically Textile and Garment Company 2 • Strategic Locations 3 • Milestones 4 • Board of Commisioners and Directors 5 • Company Structure 6
Slide 4: A Leader in Southeast Asia's Textile Industry
A LEADER in SOUTHEAST ASIA’s 4 TEXTILE INDUSTRY PT Sri Rejeki Isman Tbk (“Sritex“) is one of the largest vertically integrated textile companies in SE Asia, with operations across Spinning, Weaving, Finishing and Garment Manufacturing, located in Central Java, Indonesia. COMPANY OVERVIEW One of th
Slide 5: Vertically Textile & Garment Company
VERTICALLY TEXTILE & 5 GARMENT COMPANY UPSTREAM MIDSTREAM DOWNSTREAM RAW MATERIAL YARN GREIGE DYED FABRIC APPAREL RETAIL 60% RAYON SPINNING WEAVING FINISHING GARMENT 20% 20% COTTON WORLDWIDE 20% POLYSTER CAPACITY CAPACITY CAPACITY CAPACITY 180 Mn Meters/Year 240 Mn Yards/Year 27 Mn Pieces/Year 654.0
Slide 6: Strategic Locations
STRATEGIC LOCATIONS 6 SPD: Area~18ha Tanjung Emas International Port, Semarang Sritex 2: Central Java, Indonesia Area~19ha Total Population: 35 Million peoples Total Area ~ 79ha Sritex 1: Area~42ha Unique competitive advantage through offering its customers integrated solutions Production facilities
Slide 7: Milestones
MILESTONES 7 Present 2015 “Our company is growing rapidly from • Award from the • President of the Republic Indonesia inaugurated the Expansion New PT Sri Rejeki Indonesian World Records Factory of PT. Sri Rejeki Isman Tbk on year to year with a strong Fundamental Isman Tbk Museum with the April 21,
Slide 8: Board of Commisioners and Directors
BOARD OF COMMISIONERS AND DIRECTORS 7 8 BOARD OF COMMISIONERS BOARD OF DIRECTORS
Slide 9: Company Structure
COMPANY STRUCTURE 9 FOUNDER PT HUDDLESTON PUBLIC *) SHARES INDONESIA 0.05% 56.07% 43.88% PT SRI REJEKI ISMAN TBK (SRIL-ID) 99.90% PT SINAR PANTJA DJAJA Indonesia 100.00% Singapore GOLDEN LEGACY PTE LTD 100.00% GOLDEN MOUNTAIN TEXTILE AND TRADING PTE LTD
Slide 10: Business Overview
10 BUSINESS OVERVIEW • Customers 1 • Competitors 2 • Textile Industry Overview 3
Slide 11: Customers: Spinning and Weaving
CUSTOMERS 11 “Sritex has a broad and diversified network of customers both domestic and international level” YARN Sritex is a major supplier of high quality yarn for major textile customers globally. SPINNING GREIGE Sritex greige or raw fabric is renowned for its excellent standard and high quality.
Slide 12: Customers: Finishing
12 FABRIC Sritex high-quality fabric is both extremely Pan Brothers Tbk comfortable and classy. It is a reputable brand within a competitive fashion industry. FINISHING
Slide 13: Customers: Garment
13 Garment Garment Fashion Corporate Uniform - Corporate Military Uniform - Military Sritex’s flexibility allows penetration into Sritex also manufactures uniforms for Sritex is a leading partner in supplying the international fashion market, with Indonesian companies, for work-wear military uniform
Slide 14: Competitors
COMPETITORS 14 “Relative to its domestic competitor. Sritex is the market leader with 1H 2017 US$ 400.1 Million” Sritex is in a fairly competitive position within the textile industry in Indonesia. According to the Indonesian Textile Association ("API"), the textile industry in Indonesia is still fr
Slide 15: Textile Industry Overview
15 TEXTILE INDUSTRY OVERVIEW “With the rising labor cost in China and labor issues in Bangladesh, Indonesia now becoming more favorable place for investment” Textile Export Market Share in 2016 Sales By Geographical Area Sales By Geographical Area 1H 2016 1H 2017 Global Market Share Market Share Chi
Slide 16: Strategy in 2017
16 STRATEGY IN 2017 2017 Strategic Focus Quarterly Revenue and EBITDA YoY Growth 221 202 Normalization of New Production 169 181 180 128 Production and Operational Effeciency 36 42 40 47 34 25 Inovation for value added product development 1Q 2016 1H 2016 3Q 2016 4Q 2016 1Q 2017 1H 2017 Development a
Slide 17: Performance 1H 2017
17 PERFORMANCE 1H 2017 • Financial Summary 1 • Balance Sheet 2 • Capital Structure 3 • COGS Composition in 1H 2017 4 • Sales Segmentation 5
Slide 18: Financial Summary
18 FINANCIAL SUMMARY The increase in domestic and international sales had a positive impact on the company’s fast-growing profitability with a CAGR of 8% SALES GROSS PROFIT AND GROSS PROFIT MARGIN (USD.Mn) 680 (USD.Mn) 631 145 133 371 401 87 76 21% 21% 20% 22% 2015 2016 1H 2016 1H 2017 2015 2016 1H
Slide 19: Balance Sheet
BALANCE SHEET 19 "The composition of the Company's balance sheet is getting stronger every year and this is expected to continue in the future“. TOTAL ASSETS CASH AND RESTRICTED CASH (USD.Mn) (USD.Mn) 1,060 947 783 110 77 87 2015 2016 1H 2017 2015 2016 1H 2017 TOTAL EQUITY TOTAL INTEREST BEARING DEB
Slide 20: Capital Structure
CAPITAL STRUCTURE 20 TOTAL INTEREST BEARING DEBT / TOTAL ASSETS 58% 60% 60% 2016 2016 1H 2017 LEVERAGE MULTIPLES Interest Bearing Debt / EBITDA Net Debt / EBITDA 4.2 4.1 3.8 3.6 3.4 3.1 2015 2016 1H 2017 2015 2016 1H 2017
Slide 21: COGS Compositions in 1H 2017
21 COGS COMPOSITIONS IN 1H 2017 Electricity & Depreciation Others 3% Water 5% 3% Labour 5% Spare Parts 1% Raw Materials 83%
Slide 22: Sales Segmentation
22 SALES SEGMENTATION GPM by SEGMENT 2012-16 SALES CAGR Total Gross Sales contribution by Segment and EBITDA Margin (2016) 18.30% 18.7% 20.0% 17.8% 20.2% 13.5% 14.8% Garment 680 Garment +25.1% 631 174 32% 589 136 401 547 106 490 77 (26%) 371 (22%) Finishing (14%) (18%) 100 Finishing 74 176 96 +6.3%
Slide 23: GP & GPM Segmentation
23 GP & GPM SEGMENTATION SPINNING (USD Mn) WEAVING (USD Mn) 13% 13% 13% 13% 18% 18% 16% 17% 34 31 20 21 13 12 8 8 2015 2016 1H 2016 1H 2017 2015 2016 1H 2016 1H 2017 FINISHING (USD Mn) GARMENT (USD Mn) 33% 32% 31% 30% 26% 26% 25% 25% 55 27 45 45 44 19 29 31 2015 2016 1H 2016 1H 2017 2015 2016 1H 201
Slide 24: Company Projection in 2017
COMPANY PROJECTION IN 2017 24 (Million USD) DESCRIPTION FY 15 A FY 16 A FY17E GROSS SALES 631,3 680 734 - 762 EBITDA 119 136 150 - 156 NET INCOME 55,7 59,3 65 - 68
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Slide 26: Awards and recognitions
26 Best Liability Management The Top 50 Company 2016 Rank A Rank-1 Asset Asian Award 2016 by Triple A. Best of the Best Awards Best GCG 2016 Textile and Garment Group Forbes Indonesia. Economic Review Economic Review. 40 Best Emiten Analyst Choice Best Enterprise Achievers 2016 Top Ten Blue AAEI – C
Slide 27: Recognition & Awards
RECOGNITION & AWARDS PT BURSA EFEK INDONESIA,
Slide 28: Disclaimer
28 DISCLAIMER THIS PRESENTATION IS BEING PRESENTED TO YOU SOLELY FOR YOUR INFORMATION AND MAY NOT BE REPRODUCED, REDISTRIBUTED OR PASSED ON, DIRECTLY OR INDIRECTLY, TO ANY OTHER PERSON OR PUBLISHED, IN WHOLE OR IN PART, FOR ANY PURPOSE. This presentation has been prepared by PT Sri Rejeki Isman Tbk
Slide 29: Thank You
29 THANK YOU CLOTHING THE WORLD Integrated Vertical Textiles – Garments Plant an ISO 9001 & ISO 14001 Certified Company JL. KH. Samanhudi 88 Jetis, Sukoharjo 57511, Solo, Central Java, Indonesia (62-271) 593 188 | (62-271) 593 488 (fax)
Slide 30: PT Sri Rejeki Isman Tbk
PT SRI REJEKI ISMAN Tbk JL. KH. Samanhudi 88 Jetis THE ENERGY BUILDING LT. 20 SCBD Lot 11A Sukoharjo 57511, Solo Jl. Jenderal Sudirman Kav 52-53 Central Java – INDONESIA Jakarta Selatan 12190 – INDONESIA Tel : +62-271 593188 Tel : +62-21 2995 1619 Fax : +62-271 593488 Fax : +62-21 2995 1621
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