Pt Indo Tambangraya Megah Tbk · IDX:ITMG
Pt Indo Tambangraya Megah Tbk — Q1 2024 Earnings Presentation
28 slides from Pt Indo Tambangraya Megah Tbk's earnings presentation, May 16, 2024
Slide 1: Analysts Meeting 1Q24 Performance Result
Analysts Meeting 1Q24 Performance Result 16 May 2024
Slide 2: Disclaimer
Disclaimer The information contained in this presentation is intended solely for your reference. This presentation contains “forward-looking” statements that relate to future events, which are, by their nature, subject to significant risks and uncertainties. All statements, other than statements of
Slide 3: Agenda
ANALYST MEETING AGENDA 01 Highlights 02 Coal market trends 03 Operational updates 04 Financial updates 05 Q&A session
Slide 4: Highlights
Nim Highlights
Slide 5: 1Q24 highlights – deliver higher production
1Q24 highlights – deliver higher production BUSINESS PERFORMANCE Production Sales ASP 4.9 Mt 5.0 Mt $97/ton 44% QoQ / 31% YoY -12% QoQ / 11% YoY 1% QoQ / -36% YoY Revenue EBITDA Net Profit $489 Mn $85 Mn $61 Mn -11% QoQ / -29% YoY -35% QoQ / -64% YoY -35% QoQ / -66% YoY GOOD AND RESPONSIBLE GREENER,
Slide 6: ITM board members
ITM board members Prof. Dr. Djisman S. Board of Directors Board of Commissioners Simandjuntak Prof. Djoko President Wintoro, PhD. Commissioner & Independent Mulianto Ignatius Wurwanto Independent Commissioner President Director Director Mahyudin Lubis Yulius Independent Dr. Kirana Limpaphayom Jusnan
Slide 7: Starting strong with GPK coal production
Starting strong with GPK coal production Latest development of GPK during 1Q24 • Graha Panca Karsa (GPK) has completed the construction of the coal crushing plant, port construction (including main and fuel jetty, jetty, and barge loading conveyor), and control room. • The first coal getting was car
Slide 8: Readying for Tepian Indah Sukses (TIS)
Readying for Tepian Indah Sukses (TIS) Update and latest development Barge Ports East Bunyut Port Hauling Kalimantan Stockpile Crusher Trubaindo Tepian Indah Sukses Heading toward Bharinto South Block 1 South Block 2 • Tepian Indah Sukses (TIS) is our greenfield coal mine located in East Kalimantan.
Slide 9: ITM Way Forward
ITM WAY FORWARD ENERGY RENEWABLES MINING SERVICES AND OTHERS Coal mining Contractor business Solar based renewable Optimizing coal mining Capacity expansion and Solar PV hybrid powerplant performance through business process and solar rooftop existing coal assets, improvement organic exploration, Hy
Slide 10: Coal Market Trends
Nim Coal Market oS = Trends Rel
Slide 11: Global thermal coal market
Global thermal coal market COAL DEMAND AND SUPPLY CHANGE – 2024e VS 2023 TRENDS Unit: Mt SUPPLY DEMAND DEMAND Seaborne thermal coal imports in JKT and Europe weakened due to the shoulder season and economic challenges. However, thermal coal prices have been supported by elevated geopolitical tension
Slide 12: ITM ASP vs thermal coal benchmark prices
ITM ASP vs thermal coal benchmark prices ITM ASP VS BENCHMARK PRICES COMMENTS Unit: $/t ▪ The seaborne premium thermal coal market remained very stable throughout 1Q24, with the weekly GCNewc fluctuating 460 between $116-135 per ton. 420 ▪ Similarly, the market for lower-quality thermal coal also 38
Slide 13: ITM coal sales
ITM coal sales 1Q24 COAL SALES VOLUME BASED ON SALES DESTINATION 1Q24 COAL % SALES VOLUME Others 3% Malaysia 2% Philippines 4% India 4% Thailand 7% China 34% 1Q24 Sales Japan 5.0 Mt 21% 1.7 Mt 1.1 Mt Indonesia CHINA JAPAN 26% 0.2 Mt INDIA FY24 INDICATIVE COAL SALES 0.3 Mt Fixed Unsold 23% THAILAND 0
Slide 14: Operational Updates
Operational Updates Nim
Slide 15: Coal mining operational summary
Coal mining operational summary Graha Panca Karsa Indominco Mandiri FY24 Target: FY24 target: 1.0 Mt FY24 Target: 6.8 Mt 19.5-20.2 Mt 2Q24 Target: Trubaindo Coal Mining East Tepian Indah Sukses 4.8 Mt FY24 target: 2.9 Mt Kalimantan FY24 Target: 0.4 Mt 1Q24 West Kalimantan Coal 4.9 Mt production 44%
Slide 16: Operational update – Indominco Mandiri
Operational update – Indominco Mandiri FY24 Target: Quarterly production (Mt) 6.8 Mt Indominco Mandiri 3M24 Actual: Located in East Kalimantan 1.8 Mt 1.8 1.7 1.5 1.5 East Kalimantan 1Q23 4Q23 1Q24 2Q24e SR 11.6x 14.3x 13.8x 14.3x Indominco Barge Ports (bcm/t) Hauling Stockpile Crusher ▪ 1Q24 product
Slide 17: Operational update – Trubaindo Coal Mining
Operational update – Trubaindo Coal Mining FY24 Target: Quarterly production (Mt) 2.9 Mt Trubaindo Coal Mining 3M24 Actual: Located in East Kalimantan 0.8 Mt 0.8 0.7 0.6 0.4 East Kalimantan 1Q23 4Q23 1Q24 2Q24e SR 18.0x 23.1x 13.3x 12.1x Barge Ports (bcm/t) East Bunyut Port Hauling Kalimantan Stockp
Slide 18: Operational update – Bharinto Ekatama
Operational update – Bharinto Ekatama FY24 Target: Quarterly production (Mt) 8.1 Mt Bharinto Ekatama 3M24 Actual: Located in East and Central Kalimantan 2.2 Mt 2.2 2.1 1.6 1.3 East Kalimantan 1Q23 4Q23 1Q24 2Q24e SR 9.1x 13.4x 7.3x 6.3x (bcm/t) East Bunyut Port Kalimantan ▪ 1Q24 production achieved
Slide 19: Operational update – Jorong Barutama Greston
Operational update – Jorong Barutama Greston FY24 Target: Quarterly production (Mt) 0.4 Mt Jorong Barutama Greston 3M24 Actual: Located in South Kalimantan 0.1 Mt 0.1 0.1 0.1 0.1 1Q23 4Q23 1Q24 2Q24e East SR Kalimantan 15.0x 11.0x 4.2x 15.5x Barge Ports (bcm/t) Hauling Stockpile Jorong Crusher ▪ 1Q2
Slide 20: Operational update – Graha Panca Karsa
Operational update – Graha Panca Karsa FY24 Target: Quarterly production (Mt) 1.0 Mt Graha Panca Karsa 3M24 Actual: Located in East Kalimantan 0.03 Mt 0.2 East Kalimantan N/A N/A 0.03 1Q23 4Q23 1Q24 2Q24e SR 16.3x 6.2x Graha Panca Barge Ports (bcm/t) Karsa (GPK) Hauling Stockpile Crusher ▪ GPK carri
Slide 21: Financial Updates
Nim™ 0G Financial Updates
Slide 22: Financial performance – profitability
Financial performance – profitability PROFIT OR LOSS STATEMENT EBITDA Unit: $ Mn Revenue Unit: $ Mn 686 239 548 489 131 85 1Q23 4Q23 1Q24 1Q23 4Q23 1Q24 Sales volume (Mt) 4.5 5.7 5.0 NET PROFIT Average selling price ($/ton) 151 96 97 Unit: $ Mn Revenue 686 548 489 Operating Income 221 116 73 EBITDA
Slide 23: Financial performance – cost
Financial performance – cost TOTAL COST BREAKDOWN STRIP RATIO Unit: $/ton Unit: (x) 15.0 97 75 82 11.5 25 10.6 12 10 Royalty 1Q23 4Q23 1Q24 72 71 1Q23 4Q23 1Q24 63 SG&A expenses D&A expenses FUEL PRICE Other Unit: $/liter production costs* 0.8 0.8 0.7 Mining cost 1Q23 4Q23 1Q24 1Q23 4Q23 1Q24 *Inclu
Slide 24: Financial position
Financial position BALANCE SHEET DEBT TO EQUITY Unit: $ Mn Total assets Unit: (x) 2640 2188 2288 0.03 0.03 0.01 FY22 FY23 1Q24 FY22 FY23 1Q24 Assets Cash and cash equivalents 1,430 851 915 Other assets 1,210 1,337 1,373 NET GEARING Liabilities Unit: % Current maturities of long-term and FY22 FY23 1Q
Slide 25: Capital expenditure
Capital expenditure 1Q24 CAPITAL EXPENDITURE DETAILS 1Q24 % CAPEX REALIZATION Unit: $ 13.7 Mn Greenfield Renewable Others 2% 3% projects 3% 9.0 TRUST Coal mines 27% 1Q24 CAPEX 65% $13.7 Mn 3.2 0.2 1.9 2) 3.8 FY24 % CAPEX BUDGET Others 2% 2.1 Renewable Coal mines Greenfield 10% 68% projects 9% 1.6 0.
Slide 26: Q&A Session
Nim Q&A Session =." Si
Slide 27: QoQ and YoY financial performance comparison
QoQ and YoY financial performance comparison Unit: $ thousand 1Q24 4Q23 QoQ (%) 1Q23 YoY(%) Net Revenues 489,237 547,653 (11%) 685,586 (29%) Gross Profit 119,361 132,348 (10%) 266,916 (55%) Gross Profit Margin 24% 24% 39% Selling Expenses (38,431) (3,928) 878% (35,289) 9% General And Administration
Slide 28: ITM group structure
ITM group structure BANPU Public 65% 35% INDONESIAN STOCK EXCHANGE PT Indo Tambangraya Megah Tbk. IPO 18th Dec 2007 (Ticker: ITMG) ENERGY RENEWABLES MINING SERVICES AND OTHERS 95.07%1 SME 99.99% 70.00% 99.99% 99.99% 99.00% 99.00% 70.00% 99.99% 99.99% 99.99% TRUST IBP IMM TCM BEK JBG GPK TIS NPR Kita
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