PT Mitra Pinasthika Mustika Tbk · IDX:MPMX
PT Mitra Pinasthika Mustika Tbk — Q1 2016 Earnings Presentation
24 slides from PT Mitra Pinasthika Mustika Tbk's earnings presentation, May 17, 2016
Slide 1: 1Q16 MPMX Analyst Presentation
1Q16 MPMX ANALYST PRESENTATION 17 May 2016
Slide 2: MPM Credo: Mission, Vision, Core Values
MPM CREDO Mission To provide integrated, high quality automotive products and services that excite our customer and deliver sustainable returns to our stakeholders through synergistic capabilities and passionate people across our businesses Vision To become a respected automotive products and servic
Slide 3: Key Messages
KEY MESSAGES MPM Updates Leading End-to-End Consumer Automotive Company in Indonesia 1Q16 Business Segments Performance Distribution & Retail and Consumer Parts continue as major contributor 1Q16 Summary YoY +6% Revenue Growth & -38% NPATMI Growth, QoQ Recovery 3
Slide 4: MPM: Our Story
MPM: OUR STORY Founded by William 2W development: Entered 4W business Listed in IDX Leading consumer Soeryadjaya as 2W retail, parts, finance rental & finance, (Code: MPMX), automotive company distribution business established insurance appointed Nissan in Indonesia for Honda Datsun dealership 4
Slide 5: MPM Business
MPM BUSINESS: DISTRIBUTION & RETAIL AUTO CONSUMER PARTS AUTO SERVICES FINANCIAL SERVICES 2W Honda distribution in 2W engine lubricant Independent 2W, 4W, E. Java + E. Nusa brand principal with 35 lease financing business Tenggara with 289 N/A distributors nationwide with 145 outlets dealer relations
Slide 6: Segment Contribution
SEGMENT CONTRIBUTION 7% 7% 6% 7% 10% Revenues 1Q15 10% Revenues 1Q16 +7% +6%/ -7% IDR 3.9T YoY IDR 4.1T YoY / QoQ 76% 77% -5% 5% 1% 13% NPATMI 1Q15 NPATMI 1Q16 -38%/+239% IDR 116B 43% -24% IDR 72B 54% YoY / QoQ 46% YoY NPAT: 43% - Non Financial Services: -36% - Financial Services : -71% Distribution
Slide 7: Governance and Management
GOVERNANCE AND MANAGEMENT BOARD OF COMMISSIONERS BOARD OF DIRECTORS BoC brings strong mix of operational, strategy, M&A, BoD members bring over 80 years of combined and governance expertise professional experience Edwin Soeryadjaya Troy Parwata Chairman President Director Agung Kusumo Vice President
Slide 8: 4Q15 – 1Q16 Key Events
4Q15 – 1Q16 KEY EVENTS Oct‘15 Nov ‘15 Dec ‘15 Mulia received “Grow to Great” FKT received “Indonesia Most MPMAuto Tj. Priok dealership appreciation from Astra International Experiential Brand Activation Award received Top 3 Nissan Advisor 2015” from MIX Marcomm for its Excellence Competency (NISAC)
Slide 9: USD Senior Notes Hedging Coverage – Original & Top Up
USD SENIOR NOTES HEDGING COVERAGE – ORIGINAL & TOP UP USD Spot Rate Original Coverage Top-Up Coverage Settlement + Settlement @ Market Spot Rate Rp 12,000 @ Rp 12,000 @ Market Spot Rate Rp 14,000 @ Rp 2,000 subsidy Rp 15,000 @ Rp 14,000 @ Rp 2,000 subsidy – (Spot Rate – Rp 15,000) Rp 16,000 @ Rp 1,0
Slide 10: Key Messages
KEY MESSAGES MPM Updates Leading End-to-End Consumer Automotive Company in Indonesia Company Updates 1Q16 Business Segments Performance Continued Distributionscale building & Retail and and growthParts Consumer across all business continue segments as major contributor 1Q16 Summary YoY +6% Revenue G
Slide 11: 1Q16 Consolidated Revenue Results
1Q16 CONSOLIDATED REVENUE RESULTS IDR B, YoY 287 69 (26) (3) (85) +6% 4,143 3,901 1Q15 1Q16 % Growth from LY +9% +17% -9% -1% IDR B, QoQ (346) 4 (1) (7) 43 4,451 4,143 -7% 4Q15 1Q16 -9% +1% -0% -2% Distribution Auto Consumer Financial Auto Services Elimination & Retail Parts Services 11
Slide 12: 1Q16 Consolidated NPATMI Results
1Q16 CONSOLIDATED NPATMI RESULTS IDR B, YoY (8) (4) (10) (9) (18) 4 116 72 -38% 1Q15 1Q16 % Growth from LY -14% -5% -67% -63% -50% -66% IDR B, QoQ 123 4,451 (9) 29 40 (14) 73 4 1Q16 72 1Q16 1Q15 (51) (51) 1Q15 4Q15 +239% % Growth from 4Q15 -15% +76% +115% -73% +58% +68% Auto Distribution Auto Financ
Slide 13: Consolidated Cash Flow Position
CONSOLIDATED CASH FLOW POSITION 1Q16 vs 1Q15 1,422 1,261 1,484 296 1,511 (139) (130) 1Q16 13 (51) (123) 1Q15 FY15 vs FY14 1,712 1,422 1,103 1,422 896 1,484 (565) (269) FY15 (390) (1,003) FY14 Operating Beginning Operating Investing Financing Ending activities Balance activities activities activities
Slide 14: 2W Distribution & Retail: Continue Leadership in E. Java and NTT
2W DISTRIBUTION & RETAIL: CONTINUE LEADERSHIP IN E. JAVA AND NTT Sales Volume (000 units, YoY%) 1Q16 Highlights Mulia -2% -7% -1% • Slightly lower sales volume YoY from Mulia (2W distributor) 972 902 898 due to not-optimum harvest in East Java region and increase in vehicle registration fees 216 212
Slide 15: 4W Dealership: Improve Sales Productivity & Service Level
4W DEALERSHIP: IMPROVE SALES PRODUCTIVITY & SERVICE LEVEL Sales Volume (Car Units, YoY%) +149% +166% +25% 1Q16 Highlights 4,608 • Higher sales volume and revenues 1Q16 YoY due to 3,680 increasing sales productivity and additional branches 1,551 • Lower NPAT 1Q16 YoY due to higher opex and interest 1
Slide 16: Consumer Parts: Strengthen Channel & New Product Development
CONSUMER PARTS: STRENGTHEN CHANNEL & NEW PRODUCT DEVELOPMENT Sales Volume (KL, YoY%) 1Q16 Highlights • Higher sales volume and revenues 1Q16 YoY due to increase -5% +1% in FO-2W matic, FO-4W, AHM +5% 62,116 59,966 • Higher GP margins 1Q16 offset by non-operating expenses 59,200 (loss on forex) and h
Slide 17: Auto Services: Maintain Operational Excellence & Cash Flow
AUTO SERVICES: MAINTAIN OPERATIONAL EXCELLENCE & CASH FLOW Fleet Size (Units, YoY%) 1Q16 Highlights -3% -9% -3% • Lower fleet size 1Q16 YoY due to disposals throughout 2016 14,287 15,255 13,935 • Better utilization rate ~90% 13,847 13,497 • Lower revenues 1Q16 YoY due to lower fleet and disposals •
Slide 18: MPMFinance: Selective Growth While Maintaining Asset Quality
MPMFINANCE: SELECTIVE GROWTH WHILE MAINTAINING FOCUS ON ASSET QUALITY New Booking (IDR B, YoY%) 1Q16 Highlights -28% -2% • Lower new booking 1Q16 YTD due to slowdown market and -6% 4,093 weak retail demand conditions especially Jan-Feb ‘16 2,934 2,880 • Decreasing new car financing due to a shifting
Slide 19: MPMInsurance: Increase Penetration Group & Non-Group Businesses
MPMINSURANCE: INCREASE PENETRATION GROUP & NON-GROUP BUSINESSES Gross Premium (IDR B, YoY%) 1Q16 Highlights +75% -2% • Higher gross premium 1Q16 YoY due to increase in fire, +96% marine cargo and additional new engineering business 259 255 policies +75% 259 • Higher NPAT 1Q16 YoY due to higher net u
Slide 20: Key Messages
KEY MESSAGES MPM Updates Leading End-to-End Consumer Automotive Company in Indonesia 1Q16 Business Segments Performance Distribution & Retail and Consumer Parts continue as major contributor 1Q14 1Q16 Summary & Business Segments Performance Stable YoY +6%2WRevenue businessGrowth despite&natural disa
Slide 21: Key Metrics - Consolidated
KEY METRICS - CONSOLIDATED KEY METRICS CONSOLIDATED FY14 FY15 4Q15 1Q15 1Q16 YoY (%) QoQ (%) 1Q16 Highlights Profit & Loss (IDR Billion) • Net revenue and gross profit have Net Revenue 16,076 16,640 4,451 3,901 4,143 6.2% -6.9% Gross Profit 2,314 2,299 575 570 601 5.4% 4.6% grown in 1Q16 relative to
Slide 22: Key Metrics – Non Financial Services
KEY METRICS – NON FINANCIAL SERVICES KEY METRICS NON-FINANCIAL SERVICES FY14 FY15 4Q15 1Q15 1Q16 YoY (%) QoQ (%) 1Q16 Highlights Profit & Loss (IDR Billion) • We have observed YoY growth in net Net Revenue 14,895 15,471 4,163 3,619 3,864 6.8% -7.2% revenue and gross profit, mainly due to Gross Profi
Slide 23: Key Metrics – Financial Services
KEY METRICS – FINANCIAL SERVICES KEY METRICS FINANCIAL SERVICES FY14 FY15 4Q15 1Q15 1Q16 YoY (%) QoQ (%) 1Q16 Highlights Profit & Loss (IDR Billion) • The growth of net revenue and gross Net Revenue 1,212 1,209 298 293 291 -0.9% -2.4% Gross Profit 782 745 185 181 183 1.3% -1.0% profit remains subdue
Slide 24: Disclaimer
Disclaimer • These materials have been prepared by PT Mitra Pinasthika Mustika Tbk (the “Company”, “MPM”) and have not been independently verified. No representation or warranty, expressed or implied, is made and no reliance should be placed on the accuracy, fairness or completeness of the informati
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