PT Indika Energy Tbk · IDX:INDY
PT Indika Energy Tbk — FY2015 Earnings Presentation
86 slides from PT Indika Energy Tbk's earnings presentation, April 2016
Slide 1: Company Update FY 2015
COMPANY UPDATE FY 2015 Indika Energy April 2016
Slide 2: Disclaimer
Disclaimer Investors and security holders are cautioned that this communication contains forward- looking statements and that forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict and are generally beyond the control of PT Indika Energy Tbk
Slide 3: Content
Content • 2015 Highlights 3 • 2016 Outlook 35 • Business Review - Energy Resources 39 - Energy Services 51 - Energy Infrastructure 58 • Appendix 2
Slide 4: 2015 Highlights
INDIKA ENERAY 2015 Highlights
Slide 5: Key Assumptions vs Actual
Key Assumptions vs Actual 2015 2015 Description Unit 3M15 A 6M15 A 9M15 A FY15 A Budget Revised Average Exchange Rate USD/IDR 12,000.0 13,290.0 12,804.5 12,967.7 13,262.9 13,392.0 Average Thermal Coal Price (NC) USD/ton 65.0-70.0 58.8 62.1 60.8 60.1 58.0 Average Fuel Cost IDR/ltr 8,957.0 9,358.0 8,6
Slide 6: Dividend Timetable
Dividend Timetable Dividend Company 2014 Net Profit Indika Energy Portion (USD mn) Payment Date Payout Ratio (USD mn) Declared (USD mn) Kideco 154.4 141.5 65.1 23.0 Apr'15 91.6% 23.0 Aug'15 19.1 Dec'15 PTRO 2.3 1.6 1.2 May'15 75.0% MBSS 20.1 16.1 8.2 May'15 80.0% Tripatra 19.4 5.6 5.6 4.5 May'15 29.
Slide 7: Key Developments in 2015
Key Developments in 2015 On October 23, 2015, CEPR (PT Cirebon Energi Prasarana), in which Indika has a 25% stake through PEC (PT Prasarana Energi Cirebon), signed a 25-year Power Purchase Agreement (PPA) with PT PLN (Persero). CEPR will build and operate a 1x1000 MW coal-fired power plant (CEP-2).
Slide 8: Indika Energy's Financial Highlights (1)
Indika Energy’s Financial Highlights (1) * Revenues (USD mn) Gross Profit (USD mn) Operating Profit (USD mn) 1,109.5 1,097.3 28.8 161.0 -1.1% 252.0 1.5 324.2 34.5 11.1 (15.4) 227.0 -153.6% 262.2 32.5 88.3 16.9 1.7 TPE: 475.1mn -45.1% 8.4 PTRO: 206.8mn 8.7 -0.7 304.0 MBSS: 89.8mn 45.4 14.7 -9.1 281.6
Slide 9: Indika Energy's Financial Highlights (2)
Indika Energy’s Financial Highlights (2) * Revenues Others Others PTRO Coal trading 6.0% 5.7% 12.9% PTRO 18.8% 31.4% Coal trading 24.0% MBSS 8.2% 37.6% 12.1% Tripatra MBSS 43.3% Tripatra FY14: USD1,109.5 million FY15: USD1,097.3 million 8
Slide 10: Indika Energy's Financial Highlights (3)
Indika Energy’s Financial Highlights (3) * Cash Balance & Debt (USD mn) as of Dec 31, 2015 1) Consists of : Petrosea: USD55.0mn, MBSS: USD42.0mn, Tripatra: USD39.9 mn, Indika Holding: 976.8 USD202.5 mn (including IIC, IIR, 5) 28.6 Leases ILSS and Others). 4) 2) Other financial assets. 276.7 Bank loa
Slide 11: Indika Energy's Financial Highlights (4) Capex Realization
Indika Energy’s Financial Highlights (4) Capex Realization * 2015 B 2015 B Capex Allocation 3M15 A 6M15 A 9M15 A FY15 A Realization (USD mn) Revised IE Holding 13.6 7.2 2.8 5.1 5.8 5.8 80.6% PTRO 70 45.3 8.4 21.2 21.2 40.1 88.5% MBSS 8 7.5 4.3 5.6 7.4 9.3 124.0% Tripatra 4 5.5 0 0.3 2.3 3.2 58.2% MU
Slide 12: Indika Energy's Key Business Indicators
Indika Energy’s Key Business Indicators Revenues (USD mn) Adj. EBITDA (USD mn) & EBITDA Margin (%) 1,109.5 1,097.3 500 60% 42.1% 44.4% 863.4 749.7 29.5% 593.4 250 20.9% 30% 17.7% 250.0 333.0 260.6 231.9 193.8 0 0% 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 EBITDA EBITDA Margin Adj. EBIT (USD
Slide 13: Indika Energy's Key Credit Ratios (1)
Indika Energy’s Key Credit Ratios (1) Gross Debt & Net Debt / Adj. EBITDA (x) Debt / Capital (%) 54.0% 5.07 52.4% 4.27 52.1% 3.76 3.94 3.12 3.27 51.0% 2.33 2.48 50.3% 1.76 1.87 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 Adj. FFO / Debt (%) Adj. FCF / Debt (%) 23.1% 19.6% 15.4% 13.7% 16.9% 5.9
Slide 14: Indika Energy's Key Credit Ratios (2)
Indika Energy’s Key Credit Ratios (2) Adj. EBITDA / Interest (x) Adj. EBIT / Interest (x) 4.4 3.6 3.8 3.4 2.7 3.0 2.2 2.7 2.0 0.8 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 Adj. FFO + Interest / Interest (x) Adj. EBITDA Less Capex / Interest (x) 4.2 2.3 2.5 1.9 3.1 3.4 2.8 0.8 2.6 (2.6) 2011
Slide 15: Kideco's Financial Highlights (1)
Kideco’s Financial Highlights (1) * Revenues (USD mn) Gross Profit (USD mn) Operating Profit (USD mn) 2,059.4 328.3 494.5 -19.5% 1,658.2 -14.3% 295.6 281.3 -14.2% 374.5 77.7 253.6 500.4 50.6 67.5 60.9 43.3 418.3 72.7 53.6 66.1 527.0 88.7 378.1 43.9 80.8 35.9 537.5 487.3 101.0 114.1 108.3 93.6 FY14 F
Slide 16: Kideco's Financial Highlights (2)
Kideco’s Financial Highlights (2) * Cash Balance & Debt (USD mn) as of Dec 31, 2015 188.6 107.3 FY14 FY15 * CASH *Includes restricted time deposit 15
Slide 17: Kideco's Operating Highlights (1)
Kideco’s Operating Highlights (1) Overburden Removal Coal Production (mn ton) Stripping Ratio (x) (mn bcm) 40.3 39.0 6.4 6.3 257.4 244.6 10.3 -3.3% 9.8 61.3 6.0 -1.8% 6.2 -5.0% 61.5 10.1 10.7 69.8 6.9 6.4 68.4 10.1 8.7 6.6 66.7 6.7 57.8 9.8 9.8 6.1 5.8 59.6 56.9 FY14 FY15 FY14 FY15 FY14 FY15 Average
Slide 18: Kideco's Financial Highlights (3) Capex Realization
Kideco’s Financial Highlights (3) Capex Realization * 2015 FY15 A Capex Allocation Budget Realization (USD mn) (USD mn) Maintenance 12.3 4.0 32.5% Heavy Equipment & 5.5 3.6 65.5% Others Total 17.8 7.6 42.7% 17
Slide 19: Petrosea's Financial Highlights (1)
Petrosea’s Financial Highlights (1) * Revenues (USD mn) Gross Profit (USD mn) Operating Profit (USD mn) 348.0 66.7 83.3 11.6 -40.6% 206.8 17.1 95.6 40.2 42.3 -56.3% 29.1 6.1 49.9 17.9 3.1 9.5 87.5 Mining: USD146.3 7.8 50.1 Services: USD32.9 10.5 -75.8% 9.7 E&C, other: USD27.5 9.6 81.5 20.1 2.4 64.6
Slide 20: Petrosea's Financial Highlights (2)
Petrosea’s Financial Highlights (2) * Revenues Breakdown by Value E&C E&C POSB 5.2% 13.3% 10.2% POSB 15.9% 70.8% Contract 84.6% Contract FY14: USD348.0 mn FY15: USD206.8 mn * Cost Structure Others Others Material Material 4.7% 5.3% 2.6% 3.5% 29.5% Operation Sub-contractors 15.7% Sub-contractors 16.0
Slide 21: Petrosea's Financial Highlights (3)
Petrosea’s Financial Highlights (3) * Cash Balance & Debt (USD mn) as of Dec 31, 2015 178.0 32.1 Bank loan 28.6 Lease 55.0 117.2 1.5* Loan from Indika Energy** 53.6 Cash Debt * Other financial assets ** Includes accrued interest 20
Slide 22: Petrosea's Contract Mining Operation
Petrosea’s Contract Mining Operation * Overburden Removal Volume (Mn BCM) Coal Getting Volume (Mn Tonne) 131.2 -49.7% 66.0 13.5 14.1 4.4% FY14 FY15 FY14 FY15 Client FY14 FY15 Client FY14 FY15 Gunung Bayan Pratama* 23.3 0.0 Santan Batubara* 0.4 0.0 Santan Batubara* 1.2 0.0 Adimitra Baratama* 4.6 1.3
Slide 23: Tripatra's Financial Highlights (1)
Tripatra’s Financial Highlights (1) * Revenues (USD mn) Gross Profit (USD mn) Operating Profit (USD mn) 475.9 418.6 39.4 13.7% 118.8 133.4 9.2 24.8 93.2 6.4 7.0 93.3 -51.9% 18.9 2.8 -84.1% 3.9 138.4 12.5 2.8 7.2 5.7 1.6 103.2 7.8 7.6 11.3 11 -0.1 125.6 -5.1 88.8 -0.6 FY14 FY15 FY14 FY15 FY14 FY15 Ma
Slide 24: Tripatra's Financial Highlights (3)
Tripatra’s Financial Highlights (3) Cash Balance & Debt (USD mn) as of Dec 31, 2015 68.2 39.9 2.2 * 37.7 ** Cash Debt * Other financial assets ** Includes accrued interest 23
Slide 25: Tripatra's Financial Highlights (2)
Tripatra’s Financial Highlights (2) * Revenues Breakdown by Value TPE TPE 4.1% 14.9% 95.9% 85.1% TPEC TPEC FY14: USD418.6 mn FY15: USD475.9 mn * Cost Structure Misc Misc Rental & Repair 12.5% 4.5% Rental & Repair Construction 7.8% 5.3% 32.5% Salary 10.4% Salary 12.7% 54.6% Construction 22.7% Materia
Slide 26: Sea Bridge Shipping's Operation
Tripatra’s Financial Highlights (1) Sea Bridge Shipping’s Operation * Revenues (USD mn) Gross Profit (USD mn) Operating Profit (USD mn) 29.4 27.9 5.4% 8.2 8.2 14.0 7.9 11.3 12.7 7.1 10.0 3.9 3.6 3.6 27.0% 6.6 5.8 24.2% 3.8 3.3 1.3 3.5 1.8 1.0 3.5 3.1 1.5 6.1 7.5 4.5 4.1 2.8 2.5 FY14 FY15 FY14 FY15 F
Slide 27: Cotrans Asia's Operation
Tripatra’s Financial Highlights (2) Cotrans Asia’s Operation * Revenues (USD mn) Gross Profit (USD mn) Operating Profit (USD mn) 84.1 80.0 20.9 18.4 20.7 -4.9% 21.8 17.1 14.5 16.3 21.2 18.8 16.4 2.5 2.7 1.6 2.3 3.6 3.3 3.4 11.9% 3.2 4.2% 5.7 21.3 20.9 4.8 5.9 4.5 5.4 5.2 5.1 5.1 FY14 FY15 FY14 FY15
Slide 28: MBSS' Financial Highlights (1)
MBSS’ Financial Highlights (1) * Revenues (USD mn) Gross Profit (USD mn) Operating Profit (USD mn) 135.3 31.4 -33.6% 89.8 29.1 18.2 43.4 29.7 18.5 8.4 36.5 Barges: USD57.4 mn 7.8 -65.2% 5.4 26.8 FC: USD32.3 mn 15.1 4.7 2.9 12.5 8.4 1.4 -90.2% 4.8 38.2 7.7 11.3 5.9 26.2 14.8 -2.2 8.2 -5.5 -2.2 FY14 F
Slide 29: MBSS' Financial Highlights (2)
MBSS’ Financial Highlights (2) * Revenues Breakdown Floating crane 30.3% Floating crane 36.0% 64.0% 69.7% Barging Barging FY14: USD135.3 mn FY15: USD89.8 mn * Cost Structure Others Others 20.4% 18.4% 25.2% Depreciation Vessel Rental 34.2% Depreciation 4.5% Vessel Rental 5.3% Consumable 5.6% 5.2% Con
Slide 30: MBSS' Financial Highlights (3)
MBSS’ Financial Highlights (3) * Cash Balance & Debt (USD mn) as of Dec 31, 2015 70.9 41.8 Cash Debt * * Includes accrued interest 29
Slide 31: MBSS' Operating Highlights
MBSS’ Operating Highlights * Barging (mn ton) Floating Crane (mn ton) 31.1 -28.6% 22.2 21.5 -26.5% 15.8 FY14 FY15 FY14 FY15 Clients FY14 FY15 Clients FY14 FY15 Cotrans 9.8 10.1 KJA 10.2 6.7 KPC 5.5 0.5 BRAU 7.3 6.6 ADRO 6.5 5.2 ADRO 3.2 0.0 BORN 4.2 0.0 BCS 2.1 1.5 BCS 2.7 2.2 Others -1.3 1.0 KJA 0.
Slide 32: Cirebon Electric Power's Financial Highlights
Cirebon Electric Power’s Financial Highlights * Revenues (USD mn) Gross Profit (USD mn) Operating Profit (USD mn) 254.1 261.9 3.1% 68.6 76.7 109.9 104.2 90.7 37.1 66.7 29.7 84.1 27.9 28.6 21.2% 26.7 27.3 23.9% 26.1 81.5 66.2 7.8 6.0 32.9 27.7 31.0 26.2 58.8 60.4 21.4 25.2 20.4 24.0 FY14 FY15 FY14 FY
Slide 33: Coal price remains weak
Coal price remains weak USD/ton 150 129.9 127.1 125 100 83.3 81.4 75 per Dec’15 53.5 50 48.4 As of 31 Dec’15 25 2010 Average 2011 Average 2012 Average 2013 Average 2014 Average 2015 Average USD 99.2/ton USD 121.3/ton USD 97.7/ton USD 84.9/ton USD70.4/ton USD58.0/ton USD 91.7/ton USD 118.4/ton USD 98
Slide 34: Thermal Coal Price vs. Crude Oil Price
Thermal Coal Price vs. Crude Oil Price USD/ton USD/barrel 140 129.9 109.5 81.5 83.0 As of 31 Dec’15 70 48.4 37.1 As of 31 Dec’15 2010 Average 2011 Average 2012 Average 2013 Average 2014 Average 2015 Average USD 99.2/ton USD 121.3/ton USD 97.7/ton USD 84.9/ton USD70.4/ton USD58.0/ton USD 79.7/ltr USD
Slide 35: Content
Content • 2015 Highlights 3 • 2016 Outlook 35 • Business Review - Energy Resources 39 - Energy Services 51 - Energy Infrastructure 58 • Appendix 34
Slide 36: 2016 Outlook
INDIKA ENERAY 2016 Outlook 35
Slide 37: 2016 Key Assumptions (1)
2016 Key Assumptions (1) Description Unit 2016 Assumptions Exchange rate USD/IDR 13,900.00 Thermal Coal Price (NC) USD/ton 53.5 Fuel cost IDR/Ltr 9,535.00 Description Unit 2016 Assumptions KIDECO Production Volume Mt 32.0 Strip Ratio x 5.7 Capex USD mn 2.8 PTRO Overburden volume BCM 60.6 Beginning b
Slide 38: 2016 Key Assumptions (2) Capex Budget
2016 Key Assumptions (2) Capex Budget 2016 Capex Allocation Budget 2016 USD mn KIDECO Budget Allocation (USD mn) IE Holding 1.4 Petrosea 27.4 Maintenance 2.3 Heavy Equipment MBSS 6.1 0.5 & Others Tripatra 0.0 Total 2.8 MUTU 2.3 Resources 1.0 Total 38.2 37
Slide 39: Content
Content • 2015 Highlights 3 • 2016 Outlook 34 • Business Review - Energy Resources 38 - Energy Services 50 - Energy Infrastructure 57 • Appendix 38
Slide 40: Energy Resources
ENERGY RESOURCES Kideco Jaya Agung Santan Batubara Multi Tambangjaya Utama 39
Slide 41: Indika Energy's Coal Reserves and Resources
Indika Energy’s Coal Reserves and Resources (Mn ton) Production Coal Assets Reserves Resources 2011 2012 2013 2014 2015 Kideco 651.0 1,376.0 31.5 34.2 37.3 40.3 39.0 Santan 47.9 283.7 1.7 2.6 1.8 0.4 n/a MUTU 40.6 75.2 n/a n/a n/a n/a n/a MEA 40.0 100 n/a n/a Development n/a n/a Total 779.5 1,834.9
Slide 42: Kideco Jaya Agung
Kideco Jaya Agung Indika Energy owns 46% of Kideco, the third-largest coal producer in Indonesia with 50,400 Ha concession in East Kalimantan Kideco engages in surface open-cut mining since 1993 First-generation Coal Contract of Work valid through 2023 JORC resources as of April 2011 at 1,376mt and
Slide 43: Indika Energy and Samtan are equal partners in the Kideco joint venture
Indika Energy and Samtan are equal partners in the Kideco joint venture PT Muji Inti Utama 46% 49% 5% Shareholding • Indonesian expertise and local • Leading Korean energy company • Indonesian coal producer access • 45 years of mining experience • A customer of Indika Role • Business opportunities v
Slide 44: Kideco's Abundant Reserves and Resources
Kideco’s Abundant Reserves and Resources Reserves* Area Calorific Proved Probable Total Value (kcal)** (mn ton) Roto South 4,870 91 66 157 Roto North 5,470 - 18 18 Roto Middle 4,730 22 17 39 Susubang 5,120 - 16 16 Samarangau 4,430 79 342 421 Total 192 459 651 Area Measured Indicated Inferred Total R
Slide 45: Well developed infrastructure with end-to-end control of mining process
Well developed infrastructure with end-to-end control of mining process… Overburden Removal Process Barging and Shipping Production of “Run of Mine” (58km) 1 (ROM) Coal 6 2 • Capable of loading a number of vessels simultaneously Total Distance: 99 – 107km Stockpiling at TMCT Crushing (3-11km) Exclus
Slide 46: Supported with reputation as the most reliable supplier
…supported with reputation as the most reliable supplier Unmatched Track Record of Production Achievement (mn ton) 40.3 39.0 37.3 40.0 40.0 34.2 37.0 34.0 29.1 31.0 31.5 29.0 24.0 24.8 20.6 22.0 22.0 18.2 18.9 16.9 14.0 10.3 11.5 8.5 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2
Slide 47: One of the lowest cost coal producers in Indonesia
One of the lowest cost coal producers in Indonesia Cash Cost Component USD Cash Cost / ton Labor & Labor & Overhead other other Overhead FY14 Freight 1% Freight 0.9% 6% 5.6% USD42.1 incl. royalty 6% 5.6% USD36.2 excl. royalty Material 10.1% Material 14% FY15 59% Contract 14.4% 14% 63.4% Contract USD
Slide 48: Kideco Operational Performance
Kideco Operational Performance Mn ton/BCM 300.0 10.0 257.4 241.1 244.6 239.4 219.0 200.0 7.0 7.0 6.5 6.4 6.3 5.0 100.0 37.3 40.3 39.0 31.5 34.2 - - 2011 2012 2013 2014 2015 Overburden Stripping Ratio Coal Production 47
Slide 49: Kideco Sales by Destination
Kideco Sales by Destination Strong presence in traditional & new market and strong customer based – mostly power plant FY14 – Total Sales Volume: 40.2mn ton FY15 – Total Sales Volume: 38.6mn tons Taiwan Others Others Thailand 4.3% Thailand 5.3% 3.1% 3.1% Taiwan 2.8% Japan 3.6% Indonesia 4.2% Japan I
Slide 50: Santan Batubara
Santan Batubara Petrosea owns 50% of Santan, the third-generation Coal Contract of Work with 24,930 Ha concession in East Kalimantan and valid through 2038 Petrosea engages coal mining services and Harum Energy who owns other 50% stake in Santan, engages coal marketing services Santan engages in sur
Slide 51: Multi Tambangjaya Utama
Multi Tambangjaya Utama MUTU is a bituminous thermal and coking coal producer based in Central Kalimantan, holding a third generation CCOW expiring in 2039. 63km Mine is located about 30km northeast of Ampah City and about 250km north of Banjarmasin, the capital of South Kalimantan. Hauling road : 6
Slide 52: Energy Services
ENERGY SERVICES Tripatra & Subsidiaries Petrosea 51
Slide 53: Tripatra has 40 years track record in the energy services
Tripatra has 40 years track record in the energy services • Established in 1973 • Multi-discipline engineering / EPC and project capabilities • Well-established track record with highly rated multinational companies • Long-term relationships with key customers including Chevron, Exxon Mobil and HESS
Slide 54: Tripatra's subsidiaries
Tripatra’s subsidiaries • Establish in June 2004, Tripatra has 45% equity • Establish in October 2008 Started (commercial interest in Cotrans operation in March 2009), Tripatra has 46% equity interest in Sea Bridge Shipping (SBS) • Cotrans provides offshore coal transportation and transshipment serv
Slide 55: Tripatra's Backlog in 2015
Tripatra’s Backlog in 2015 USD mn New Contract/ Remaining Revenue Remaining Adjustment Value Contract Value Recognition Contract Value Descriptions in 2015 Per Period ended Per 31 Dec 2014 31 Dec 2015 31 Dec 2015 Tripatra Engineers & 344.2 272.8 449.3 167.7 Constructors Tripatra Engineering 32.7 5.4
Slide 56: Petrosea
Petrosea • Petrosea is a multi-disciplinary engineering, construction and mining company with a track record of achievement in Indonesia since 1972 • Today, Petrosea is recognised as one of Indonesia's leading engineering and construction contractors • Petrosea’s strategy is to be an Indonesian mini
Slide 57: Petrosea's Backlog in 2015
Petrosea’s Backlog in 2015 USD mn Remaining New Contract/ Revenue Remaining Contract Value Adjustment Value Recognition Contract Value Descriptions Per Period ended Per 31 Dec 2014 31 Dec 2015 31 Dec 2015 Contract mining 828.2 (246.8)* 144.7 436.7 E&C 7.4 191.2 28.4 170.2 POSB 68.4 38.3 33.8 72.9 To
Slide 58: Petrosea Offshore Supply Base
Petrosea Offshore Supply Base FACILITIES: • Quay (inner : 4-6 meters & outer 5-8 meters water depth) • Storage: • Undercover (13,500 square meters) & Open (80,000 square meters) • Oil (4,000 cubic meters) & diesel (3,000 cubic meters) • Barite silos (8,000 cubic feet) & cement silos (5,000 cubic fee
Slide 59: Energy Infrastructure
ENERGY INFRASTRUCTURE Mitrabahtera Segara Sejati Cirebon Electric Power 58
Slide 60: Mitrabahtera Segara Sejati
Mitrabahtera Segara Sejati MBSS is an integrated coal transport and logistics (one-stop-solution) service company incorporated in 1994. Since 1998 MBSS has shown its commitment to customers by being the first company in Indonesia to sign a contract with a dispatch and demurrage provision clause, thu
Slide 61: MBSS' Backlog in 2015
MBSS’ Backlog in 2015 USD mn Remaining New Contract/ Revenue Remaining Contract Adjustment Recognition Contract Value Value in 2015 Value Clients Per Period ended Per 31 Dec. 2014 31 Dec 2015 31 Dec 2015 Barging 145.9 (8.9) 34.9 102.2 Floating Crane 117.7 0 30.5 87.2 Total 263.6 (8.9) 65.3* 189.4 *
Slide 62: Large Fleet of Vessels
Large Fleet of Vessels As of Additional up to 31 Dec 2014 31 Dec 2015 Barges Tug Floating Crane 78 -2 85 2 7 -1 Total 76 Total 87 Total 6 Cement Vessel Support Vessel 1 0 1 0 Total 1 Total 1 61
Slide 63: Cirebon Electric Power (1)
Cirebon Electric Power (1) Location Cirebon, Java Capacity 1x660MW Shareholding Marubeni Corp.: 32.5% KOMIPO Co.: 27.5% Samtan Co.: 20.0% Indika Energy: 20.0% Off-taker PLN Power Purchase Agreement 30 Years Tariff USD0.0443/kwh* Commercial Operation Date 27 July 2012 Sources of Coal Kideco : 1.85 mn
Slide 64: Cirebon Electric Power (2)
Cirebon Electric Power (2) CEP Performance in 2015 Availability Factor • Projected Availability Factor (AFpm) = 80% • Actual Availability Factor (billing/AFa) = 87.43% • Actual Availability Factor (Operational/AFa) = 95.95% Production • Energy Generated Gross 5,215,514.8 MWh • Electric Energy Export
Slide 65: Cirebon Electric Power (3)
Cirebon Electric Power (3) Cirebon Power Expansion, 1 x 1,000 MW Coal Fired Power Plant • On October 23, 2015, CEPR (PT Cirebon Energi Prasarana), in which Indika has a 25% stake through PEC (PT Prasarana Energi Cirebon), signed a 25-year Power Purchase Agreement (PPA) with PT PLN (Persero). • Proje
Slide 66: Content
Content • 2015 Highlights 3 • 2016 Outlook 35 • Business Review - Energy Resources 39 - Energy Services 51 - Energy Infrastructure 58 • Appendix 65
Slide 67: Appendix
INDIKA ENERAY Appendix 66
Slide 68: Kideco's Financial and Operating Highlights (1)
Kideco’s Financial and Operating Highlights (1) Descriptions 2015 (unaudited) 2015 2014 2013 2012 (USD mn) 3M 6M 9M audited audited audited audited Sales 487.3 865.4 1,283.7 1,658.2 2,059.4 2,120.6 2,357.3 Gross profit 114.1 158.0 230.7 281.3 328.3 465.7 733.4 Operating profit 108.4 144.2 210.3 253.
Slide 69: Kideco's Financial and Operating Highlights (2)
Kideco’s Financial and Operating Highlights (2) Descriptions 2015 (unaudited) 2015 2014 2013 2012 (USD mn) 3M 6M 9M audited audited audited audited Current assets 503.1 425.3 450.3 400.5 396.0 457.6 523.7 Total assets 679.0 595.9 614.6 582.8 602.4 686.6 745.1 Current liabilities 278.9 228.1 259.8 21
Slide 70: Petrosea's Financial Highlights (1)
Petrosea’s Financial Highlights (1) Descriptions 2015 (unaudited) 2015 2014 2013 2012 (in USD mn) 3M 6M 9M audited audited audited audited Total revenues 64.6 114.7 164.6 206.8 348.0 361.0 385.5 Mining 49.0 87.9 118.2 146.3 294.2 312.2 356.8 Services 9.1 17.3 25.2 32.9 35.6 33.1 26.5 E&C, Others 6.5
Slide 71: Petrosea's Financial Highlights (2)
Petrosea’s Financial Highlights (2) Descriptions 2015 (unaudited) 2015 2014 2013 2012 (in USD mn) 3M 6M 9M audited audited audited audited Cash balance* 59.3 59.1 52.3 55.0 66.7 58.5 45.0 Current assets 168.4 153.4 146.4 141.2 175.5 188.6 165.6 Total assets 461.6 446.3 438.3 425.4 467.7 509.2 529.7
Slide 72: MBSS' Financial Highlights (1)
MBSS’ Financial Highlights (1) Descriptions 2015 (unaudited) 2015 2014 2013 2012 (USD mn) 3M 6M 9M audited audited audited audited Total revenues 26.2 53.0 71.5 89.8 135.3 151.1 141.5 Tug & Barge 16.6 33.8 45.7 57.4 94.3 109.7 106.5 Transshipment 9.6 19.2 25.8 32.3 41.0 41.4 34.9 Gross profit 8.2 15
Slide 73: MBSS' Financial Highlights (2)
MBSS’ Financial Highlights (2) Descriptions 2015 (unaudited) 2015 2014 2013 2012 (USD mn) 3M 6M 9M audited audited audited audited Cash balance* 50.8 36.4 34.3 41.7 48.1 43.9 17.7 Current assets 95.4 85.6 83.5 81.5 95.4 80.3 52.9 Total assets 350.8 336.4 328.9 307.8 351.6 352.8 345.4 Current liabili
Slide 74: Tripatra's Financial Highlights (1)
Tripatra’s Financial Highlights (1) Descriptions 2015 (unaudited) 2015 2014 2013 2012 (in USD m n) 3M 6M 9M audited audited audited audited Total revenues 125.6 263.9 357.2 475.9 418.6 303.4 210.1 Gross profit 11.0 16.7 16.2 18.9 39.4 36.6 22.5 General and administrative expenses 3.4 9.2 13.8 15.0 1
Slide 75: Tripatra's Financial Highlights (2)
Tripatra’s Financial Highlights (2) Descriptions 2015 (unaudited) 2015 2014 2013 2012 (in USD mn) 3M 6M 9M audited audited audited audited Cash balance* 64.3 62.9 71.1 39.9 60.7 77.6 39.8 Current assets 294.1 338.5 339.2 354.1 248.1 234.6 115.4 Total assets 361.7 406.2 403.9 398.6 318.4 302.1 185.3
Slide 76: Indika Energy's Financial Highlights (1)
Indika Energy’s Financial Highlights (1) Descriptions 2015 unaudited 2015 2014 2013 2012 (in USD mn) 3M 6M 9M audited audited audited audited Total revenues 314.3 618.3 845.3 1,097.3 1,109.5 863.4 749.7 Tripatra 125.4 263.5 356.7 475.1 417.7 303.4 210.1 Petrosea 64.6 114.7 164.6 206.8 347.9 360.0 38
Slide 77: Indika Energy's Financial Highlights (2)
Indika Energy’s Financial Highlights (2) Descriptions 2015 unaudited 2015 2014 2013 2012 (in USD mn) 3M 6M 9M audited audited audited audited Cash balance* 372.2 409.4 391.6 339.4 411.1 406.2 421.1 Current assets 967.5 988.5 910.8 827.3 831.4 759.3 698.9 Total assets 2,375.3 2,390.2 2,311.2 2,150.4
Slide 78: Fast facts
INDIKA ENERAY Fast facts 77
Slide 79: Indika Energy, Indonesia's leading fully integrated energy company
Indika Energy, Indonesia’s leading fully integrated energy company Through its unique, complementary and integrated energy platform, Indika Energy is able to generate stable and increasingly diverse earnings 1 Energy Resources 2 Energy Services 3 Energy Infrastructure • 69.8% stake at Petrosea • 51%
Slide 80: A well-integrated energy platform across the entire value chain
Indika Energy Group companies cover end-to-end coal business value chain Identification / acquisition Energy resources of assets • Operational synergies from intra- Exploration group cross-selling opportunities A well-integrated energy platform across the entire value chain - part of Kideco's overbu
Slide 81: Corporate Structure
Corporate Structure 7 December 2015 PT Indika Energy Tbk. (Indonesia) 100% 90% 100% 100% 100% 69.80% 100% 100% 100% PT Indika Multi PT Indika Indonesia PT Indika Inti PT Tripatra PT Tripatra PT Indika PT Indy Properti 10 % PT Indika Energy Indika Power Energi Resources Corpindo Engineers and Enginee
Slide 82: Notes Outstanding
Notes Outstanding B3 Negative Outlook (as of December 2015) The Senior Notes are rated: B Negative Outlook International Ratings (as of July 2015) Indo Energy Finance B.V. Indo Energy Finance II B.V. USD171.4 mn* USD500.0 mn 7.00% 7-year Senior Notes 6.375% 10-year Senior Notes Reg S / 144A Reg S /
Slide 83: INDY shareholding structure
INDY shareholding structure PT Indika Mitra Individual Founders Public Energi (less than 5% each) 63.47%* 29.01% 7.52% PT Indika Energy Tbk. (INDY) listed in the Indonesia Stock Exchange on June 11, 2008 Number of shares: 5,210,192,000 Part of IDX’s LQ 45 Index and MSCI Indonesia Index Market Cap. a
Slide 84: PTRO shareholding structure
PTRO shareholding structure PT Indika Energy Public Tbk. 69.8%* 30.2% PT Petrosea Tbk. (PTRO) listed in the Indonesia Stock Exchange on May 21, 1990 Number of shares: 1,008,605,000** Market Cap. as of 30 Dec. 2015 – IDR0.3 trillion (USD21.2 million)*** * Since February 09, 2012 (Indika Energy comple
Slide 85: MBSS shareholding structure
MBSS shareholding structure PT Indika Energy Public Infrastructure 51.0%* 49.0% PT Mitrabahtera Segara Sejati Tbk. (MBSS) listed in the Indonesia Stock Exchange on April 06, 2011 Number of shares: 1,750,026,639 Market Cap. as of 30 Dec. 2015 – IDR0.5 trillion (USD 33.6million)** * Since May 4, 2012
Slide 86: Thank You
THANK YOU PT Indika Energy Tbk. Graha Mitra Jl. Jend. Gatot Subroto Kav. 21 Jakarta 12930, Indonesia + 62 21 2557 9888 www.indikaenergy.co.id Investor.relations@indikaenergy.co.id