Pt Barito Pacific Tbk · IDX:BRPT
Pt Barito Pacific Tbk — BCA Sekuritas Webinar (June 2022)
39 slides from Pt Barito Pacific Tbk's conference presentation, Jun 20, 2022
Slide 1: Stronger Blend for Sustainable Growth
Stronger Blend for Sustainable Growth BCA Sekuritas Webinar June 20, 2022 1
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by the management of PT Barito Pacific Tbk. (“Barito Pacific” or the “Company”) for information purposes and contains general background information about Barito Pacific group including forward-looking statements on its business, financial condition and
Slide 3: Agenda
Agenda 1 Overview of Barito Pacific 2 Petrochemical 3 Energy 4 Latest Financial Highlights 5 Growth Strategies & Track Records 6 Environmental Social Governance (ESG) 3
Slide 4: Overview of Barito Pacific
1 Overview of Barito Pacific 4
Slide 5: More than 40 years participation in national development
More than 40 years participation in national development Transforming as market leader in Petrochemical and Energy 2017 2019 2013 ▪ April: Star Energy acquired ▪ New PE plant of Chandra Asri ▪ Butadiene Plant Salak and Darajat from (400 KTA) Operation (100 KTA) subsidiary of Chevron ▪ Expansions PP
Slide 6: Barito Pacific Overview
Barito Pacific Overview ● Listed on the IDX since 1993, Barito Pacific has a market capitalization of c.US$4.6bn as at 15 Jun 2022 ● Barito Pacific’s largest shareholder is Prajogo Pangestu with a 70.86% stake as at 31 Mar 2022 ● Rating Pefindo: idA+ (Stable) Petrochemicals Energy Property and Other
Slide 7: Barito Pacific at a Glance
Barito Pacific at a Glance … with the Group’s key assets strategically located in Java Wisma Barito Pacific Office complex in West Jakarta with GFA of 38k sqm Wisma Barito Pacific Chandra Asri Petrochemical Particle Board (“CAP”) Java 9 & 10 Manufacturing Evaluating second petrochemical complex. Ham
Slide 8: World class partners in every business
World class partners in every business Energy Petrochemicals Partners Partners ■ Acquired 30% stake in CAP in 2011 ■ Partnered with Star Energy on the acquisition of Salak and Darajat ■ Currently owns a 30.57% stake in CAP geothermal assets from Chevron on 31 March 2017 ■ Sharing of technical and op
Slide 9: Petrochemical business
‘ i 3 i a Petrochemical business Medley rvs.
Slide 10: Chandra Asri: Indonesia's Leading and Preferred Petrochemical Company
Chandra Asri: Indonesia’s Leading and Preferred Petrochemical Company Largest Integrated Petrochemical Producer in Stable and Robust Financials Supported by Indonesia Credit Strength Largest integrated petrochemical producer in Indonesia and Integration from upstream cracker to downstream 1 operates
Slide 11: Integrated Production of Diverse Products
Integrated Production of Diverse Products Chandra Asri’s products encompass a wide range across the consumer products value-chain, and its leading position & strategic location enhances its competitiveness Capacity Capacity(KT/A) Use (Examples) Capacity (KT/A) Polyethylene (KT/A) (736) Naphtha Ethyl
Slide 12: Petrochemical products in everyday life
Petrochemical products in everyday life Chandra Asri’s products encompass a wide range across the consumer products value-chain, and its leading position & strategic location enhances its competitiveness Plastic Mineral Jerry Can Home Reusable Diapers & Flexible Water Tank Tumbler water Water care f
Slide 13: Petrochemical products in everyday life
Petrochemical products in everyday life Raw materials for daily needs Cooling Food Cushioning Helmet pad Box packaging foam storage High Octane Co-monomer performance tire booster for PE production 13 13
Slide 14: Strong Demand Growth for Petrochemical Products in Indonesia
Strong Demand Growth for Petrochemical Products in Indonesia Total Demand Growth (2020 – 2035F CAGR) Polyethylene Consumption per Capita (2) 70 North America Consumption per capita (Kg) 60 61 Northeast Asia 50 50 West Europe 52 Rising 4.6% Population PE 40 2.9% Middle East 30 30 23 Southeast Asia Qu
Slide 15: Chandra Asri is the Country's Market Leader for Its Product Portfolio
Chandra Asri is the Country’s Market Leader for Its Product Portfolio Largest Petrochemical Company in Indonesia1 Olefins Top 10 South East Asia Producers2 Olefins Polyethylene (’000 tons per year) 5,000 4,000 Pertamina CAP LCT CAP 3,000 22% 50% 40% 2,000 24% 1,000 Total Total 0 Chemical… Supply Sup
Slide 16: Capacities of Petrochemical Producers in Indonesia
Capacities of Petrochemical Producers in Indonesia Capacity ('000 tons per year) s Others Total Ethylene 900 - - - - - - - 900 Propylene 490 - 625 - - - - - 1,115 LLDPE 400 200 - - - - - - 600 HDPE 336 250 - - - - - - 586 Polypropylene 590 - 45 300 - - - - 935 Ethylene Dichloride - - - - 760 380 - -
Slide 17: WIN-WIN-WIN Strategic Alignment and Partnership Synergies
WIN-WIN-WIN Strategic Alignment and Partnership Synergies CAP Strategic Alignment SCG Strategic Alignment TOP Strategic Alignment ▪ Leading operator of petrochemical ▪ CAP’s long-term partner ▪ Long-term feedstock supply security complex in Indonesia ▪ Long track record and expertise ▪ Expertise in
Slide 18: Energy
3 Energy 18
Slide 19: Energy: Star Energy Geothermal
Energy: Star Energy Geothermal Geothermal Resources & Reserves (as of Dec 2018) Tapping into world’s largest geothermal powerhouse +/- 25GW potential capacity • Nearly around 40% of world’s geothermal potential are located in Indonesia, but only ~4% in operation. 4 Resources 40% • Through Star Energ
Slide 20: Star Energy – One of the largest in the world
Star Energy – One of the largest in the world Indonesia Geothermal Producers World Geothermal Power Companies 2017 installed capacity (MW) 2017 installed capacity (MW) 875 1,169 672 899 875 874 725 220 120 Southeast Asia IPP Companies 20
Slide 21: Star Energy Geothermal Operating Assets
Star Energy Geothermal Operating Assets Three Geothermal Operation with a Total Installed Capacity of 875MW Wayang Windu Salak Darajat ◼ Bandung Regency, West Java ◼ Sukabumi Regency and Bogor Regency, West Java ◼ Garut Regency and Bandung Regency, West Java ◼ 227 MW total installed capacity ◼ 377 M
Slide 22: Latest Financial Highlights
4 Latest Financial Highlights 22
Slide 23: 3M22 consolidated financial performance
3M22 consolidated financial performance Revenue (US$ mn) EBITDA (US$ mn) & margin Net profit after tax (US$ mn) 3,076 3,156 11 38 26.4% 24.8% 25.6% 25.3% 522 537 797 296 813 2,402 2,334 416 258 8 7 513 595 596 521 441 403 415 147 137 2,543 2,580 401 116 726 815 356 249 1,881 1,806 2 3 134 106 127 13
Slide 24: Balance Sheet – Prudent & Solid Capital structure
Balance Sheet – Prudent & Solid Capital structure Total assets (US$ mn) Total Debt & Net Debt (US$ mn) 9,242 9,315 3,528 7,683 3,097 7,042 7,182 2,880 2,654 2,536 1,640 1,791 1,745 1,437 1,222 2018 2019 2020 2021 3M22 2018 2019 2020 2021 3M22 Net debt/EBITDA Debt to capital ratio (%) 4.5x limit 49.6
Slide 25: Continuous debt management to withstand rising rates environment
Continuous debt management to withstand rising rates environment Debt composition 3M22 Debt composition fixed vs. floating-rate 16% 17% 20% IDR Term Loan IDR Bonds 3% 18% 60% 54% USD Term Loan 79% 34% 84% 83% 80% USD Bonds 45% 40% 46% 21% 2017 2018 2019 2020 2021 3M22 Fixed Floating • Access to vari
Slide 26: Growth Strategy & Track Record
5 Growth Strategy & Track Record 26
Slide 27: Sizeable and Tangible Pipeline Growth
Sizeable and Tangible Pipeline Growth Strong track record paving for a clear path of growth 2nd Naphtha Cracker Hamiding & Sekincau ➢ 1,100 ktpa (Preliminary Survey & ➢ Final stage of FDI Exploration) ➢ Right to match the best tender offer for the PP Plant MTBE and Butene-1 Plant license to develop
Slide 28: Solid Track Record of Delivering Sustainable and Profitable Growth
Solid Track Record of Delivering Sustainable and Profitable Growth Cracker Merger New PE, SSBR Expansion with TPI & PP MTBE BD Plant Cracker operation, & Increase expansion, and CAP2* Operation Expansion BD Acquisition PE Furnace Butene-1 expansion of SMI Capacity revamp 8,950 8,950 4,718 4,232 4,23
Slide 29: Java 9 & 10 - Ultra Super Critical coal-fired power project
Java 9 & 10 - Ultra Super Critical coal-fired power project Description Project Ownership ◼ 2,000 MW (2 x 1,000 MW) ultra supercritical coal-fired power project 100% Govt. Owned developed under a BOOT scheme ◼ Located in Suralaya, Banten province 100% ◼ The site is located in close proximity to CAP’
Slide 30: Track record of deploying significant capital and delivering meaningful projects
Track record of deploying significant capital and delivering meaningful projects Completed Major Projects Capex (U$m) Year CAP: Cracker expansion project and TAM 380 2015 STAR ENERGY: Acquired Salak/Darajat Geothermal 2,103 2017 CAP: Formed JV with Michelin, SBR Plant and Butadiene Plan Expansion 47
Slide 31: Robust Funding Capability to Support Sustainable growth
Robust Funding Capability to Support Sustainable growth Successfully raised series of funding close to US$10 Full support of key investors through billion(*) through equity & debt participation of US$2.0b right issue, including recent US$1.1b for CAP with onboarded strategic investor Funding activit
Slide 32: Strong track record and clear roadmap to deliver sustainable growth ahead
Strong track record and clear roadmap to deliver sustainable growth ahead Robust EBITDA growth thru organic & inorganic Moving in parallel with operational growth expansions EBITDA increased by more than tenfold over the last ten years Market capitalization increased by close to 10x EBITDA in US$ mi
Slide 33: Environmental Social Governance
6 ESG Environmental Social Governance 33
Slide 34: Current ESG rating of Barito Pacific
Current ESG rating of Barito Pacific On the path of continuous improvement Rating Provider 2020 Score 2021 Score Target MSCI ESG LEADERS √ BB BBB A Sustainalytics 34.1 (High Risk) 27.2 (Medium Risk) 15 - 20 (Low Risk) FTSE ESG Not rated Under review • ESG ratings are a relatively new phenomena but a
Slide 35: Environment, Social & Governance
Environment, Social & Governance Environmental aspects • Reforestation, development of green corridor, and revitalization of water springs • 4.8 % Asphalt plastic for road development • 53 new forklift electrical to reduce emission up to Reduction 446t CO2e, replacing Diesel • 4,800m2 solar panel in
Slide 36: Environment, Social & Governance
Environment, Social & Governance Social aspects Non-profit foundation to serve the country 4 • Established in 2011, the foundation was formed to serve as a way for Barito Pacific Group to share and serve the community and environment. • The principal purpose of Yayasan Bakti Barito is to contribute
Slide 37: Governance → Highly Experienced Management Team
Governance → Highly Experienced Management Team Board representation for partners, highly experienced and diverse team Name Position Company Name Position Company Name Position Company Tanawong Suwit Prajogo Pangestu President Commissioner BRPT Commissioner CAP Director CAP Areeratchakul Wiwattanawa
Slide 38: Questions & Answers
Questions & Answers 38
Slide 39: THANK YOU
THANK YOU Office Address: Contact: PT Barito Pacific Tbk Investor Relations /Corporate Secretary Wisma Barito Pacific 2, Fl 23 Email: investor.relations@barito.co.id Jl. Letjen. S. Parman Kav. 62-63 corpsec@barito.co.id Jakarta 11410 Tel: +62 21 530 6711 Visit our website at www.barito-pacific.com
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