PT Elnusa Tbk · IDX:ELSA
PT Elnusa Tbk — FY2016 Earnings Presentation
20 slides from PT Elnusa Tbk's earnings presentation, June 2017
Slide 1: PT Elnusa Tbk Analyst Meeting 2017
PT Elnusa Tbk Analyst Meeting 2017 www.elnusa.co.id
Slide 2: Agenda
Agenda COMPANY PROFILE FINANCIAL PERFORMANCE STRATEGY & DEVELOPMENT 2
Slide 3: Company Profile
COMPANY PROFILE
Slide 4: Company Milestones
Company Milestones 1971‐1987 2009 2013 ‐ 2014 2016 ‐ 2017 1969 2008 2011 ‐ 2012 2014 ‐ 2015 Establishment IPO Elnusa The dawn of 7.298.500.000 Turnaround low oil price shares Program impacted to industry Entered seismic business, oilfied Non core divestment of Revitalizing Human services, data manag
Slide 5: Elnusa Total Solution Services
Elnusa Total Solution Services Vision : Reputable Energy Services Company through Total Solution Development Operation & Processing Logistic & Exploration & Installation Abandonment & Refinery & Refinery Seismic Maintenance Onshore Drilling Services Well Services Offshore Seismic Well Services Suppo
Slide 6: Shareholder & Management Structure
Shareholder & Management Structure ELNUSA as operating Holding PERTAMINA as controlling Company : Seismic & Oilfield shareholder & major client Services Oil & Gas Support Services PT PERTAMINA Integrated Upstream Oil & Gas Services (PERSERO) PT Elnusa Fabrikasi Konstruksi 97,3% 41,1% PT Elnusa O
Slide 7: Company Performance
COMPANY PERFORMANCE
Slide 8: Financial Highlights
Financial Highlights INCOME STATEMENT 2015 2016 % Change Revenue 3.775 100% 3.621 100% (4.1%) Cost of Revenue 3.057 81% 3.006 83% (1.7%) Gross Profit 719 19% 615 17% (14.5%) Operating Profit 470 12% 419 12% (10.9%) EBITDA 736 19% 723 20% (1.8%) Net Profit 375 10% 311 9% (17.1%) IDR Bn Revenue down
Slide 9: Financial Highlights
Financial Highlights BALANCE SHEET 2015 2016 % Change Cash & Equivalents 935 744 (20.4%) Account Receivables 790 18% 714 17% (9.6%) Total Assets 4.408 100% 4.191 100% (4.9%) Account Payables & Accruals 895 20% 638 15% (28.7%) Short Term Bank Loan 444 10% 516 12% 16.2% Long Term Bank Loan 296 7% 34 0
Slide 10: Segment Highlights
Segment Highlights 2015 2016 26% 16% DOS GSC EPN Others Drilling & 5% Oilfield ‐25% 1,540 1,157 Services 32% 669 20% 2016 Revenue Seismic 45% Services ‐16% Contrbution 799 669 16% 17% 18% Transportation, Logistic & 16% Other Services 1,442 1,771 Revenue & Gross Margin IDR Bn Drilling & Oilfield Se
Slide 11: ELSA Stock Performance
ELSA Stock Performance Volume Price 700 Rp 600 600 06/16 Rp 456 Rp 420 09/16 500 12/16 400 300 Rp 174 01/16 200 100 0 Jan‐16 Feb‐16 Mar‐16 Apr‐16 May‐16 Jun‐16 Jul‐16 Aug‐16 Sep‐16 Oct‐16 Nov‐16 Dec‐16 Since mid 2015 ELSA stock performance tends to have correlation with oil price sentiment. Duri
Slide 12: Contract Profile
Contract Profile Drillling & Oilfield Seismic In USD mn 76,8 387.9 142 311.1 246.0 Carry Over New Contract Total Contract 2016 Actual Carry Forward Carry over contract from 2015 was USD 311,1 mn which consisted of USD 241,6mn from Drilling & Oilfield and USD 69,5 from Seismic. New contract up to
Slide 13: The Best Contractor in Delta Mahakam
The Best Contractor in Delta Mahakam ELNUSA Services in Delta Mahakam Hydraulic Workover & Work Barge Snubbing Coiled Tubing, Well Accommodation Work For the third time, ELNUSA received The Mahakam Stimulation & Pumping Barge Award & The Best Contractor for category of Safety Performance of High R
Slide 14: Strategy & Development
STRATEGY & DEVELOPMENT
Slide 15: Industry Update: Oil price is projected to recover gradually
Industry Update : Oil price is projected to recover gradually Global oil crude market messages by IHS Market : Dated brent expected to rise to an average of $52/bbl in 2017 as the impact of deep spending cuts on production. Annual world oil demand growth of just over 1 MMb/d is a critical assump
Slide 16: Business Strategy
Business Strategy Help clients in Diversification to carrying out minimize risk STABILITY GROWTH efficiency Maintain Diversifica‐ Profit tion Potential recurring Develop income Internal improvement Focus on Energy in Core Business Selective Services in Non‐Energy Sector Optimize Integrate Diversify
Slide 17: Market Penetration in Marine Support Services
Market Penetration in Marine Support Services Exploring New Discoveries Contributing to National Resources An Indonesia Pride ELSA REGENT Indonesian Flag ‐ Marine Seismic Vessel Highest seismic vessel local content in Indonesia (TKDN) Superior broadband seismic data acquisition & processing Ef
Slide 18: Key Drivers: Flare Gas Product Development
Product Development : Flare Gas 0,009 – 0,065 mmcfd Electric up to 350 kw/unit Flare to Power service CH4 (gas) NGL (liquid) 0,5 ‐ 10 mmcfd Condensate (liquid) Flare Gas Flare to Liquid service Key Drivers Clients needs to comply with regulation Oil Company needs to reduce the oil lifting cost
Slide 19: Market Expansion to Regional Area
Market Expansion to Regional Area India Thailand 2D Land Seismic in ONGC & Snubbing services in 3D Land Seismic in Oil India Chevron Thailand E&P Ltd (Technical Expertise) Brunei Marine Support & Snubbing Job in Shell Brunei Algeria Seismic Reprocessing Malaysia Malaysia for Pertamina Algeria Well T
Slide 20: Thank You
Thank You DISCLAIMER : The information in this document has not been independently verified. No representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. No