PT Timah (Persero) Tbk · IDX:TINS
PT Timah (Persero) Tbk — PT Timah — Q1 2018 Earnings Presentation
20 slides from PT Timah (Persero) Tbk's earnings presentation, May 23, 2018
Slide 1: Q1-2018 Analyst Meeting
Q1-2018 Analyst Meeting Jakarta - May 23, 2018 PT TIMAH Tbk
Slide 2: Vision & Mission
Vision & Mission PT TIMAH Tbk is the second largest tin mining company in the world and is a member of Holding State-Owned Mining Company VISION To be a leading environmental friendly mining company in the world MISSION Building strong, supreme and dignified human resources Implementing the proper &
Slide 3: Ownership Structure and Business Development
Ownership Structure and Business Development Republic of Indonesia 1 owns 1 share of 65% 35% Series A (Dwiwarna) 2 3 4 99,99% 99,99% 100% 99,99% 100% 99,99% 100% 50% 50% 99,90% 100% 100% 1 Pilar 1 : Tin Mining 2 Pilar 2 : Downstream Products 100% 3 Pilar 3 : Non-Tin Mining 4 Pilar 4 : Competency Bas
Slide 4: Area of Mining License (IUP)
Area of Mining License (IUP) Province of Bangka Province of Riau Belitung Islands Islands & Riau • Number of IUP 122 • Number of IUP 7 • Onshore area of 288.728 ha • Offshore area of 45.009 ha • Offshore area of 139.663 ha Number of resources and reserves • Resources 796.343 ton • Reserves 377.594 t
Slide 5: Industries Overview (1/2)
Industries Overview (1/2) Industri overview 1. Termination of Export Approval license (PE) has boosted the price of refiened tin. Release from the Ministry of Trade that in March 2018 the total export was only 5,469 tons or down 24% from the previous month, because there was a delay in export delive
Slide 6: Industries Overview (2/2): Refined tin use by application
Industries Overview (2/2) Refined tin use by application 6
Slide 7: Financial Performance Quarterly (Yearly Basis)
Financial Performance Quarterly (Yearly Basis) Revenue in billion Rp Gross profit in billion Rp 2,048 298 0.6% 4.6% 2,035 283 Q1-2017 Q1-2018 Q1-2017 Q1-2018 Operating income in billion Rp Profit for the year in billion Rp 138 18.3% 66 17.2% 113 55 Q1-2017 Q1-2018 Q1-2017 Q1-2018 7
Slide 8: Financial Performance Quarterly
Financial Performance Quarterly Revenue in billion Rp Gross profit in billion Rp 2,598 521 2,253 2,319 2,047 2,035 373 297 332 284 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Operating income in billion Rp Profit for the year in billion Rp 260 201 191 149 137 140
Slide 9: Profit for The Year Analysis
Profit for The Year Analysis Profit for the year analysis in billion Rp `Variance QoQ Remarks 90.0 80.0 a. Mainly due to decreased in refined tin sales 17.6 70.0 28.8 volume in relation to adapt the changes to the 60.0 12.7 11.5 1.1 new regulation.. 50.0 a b c d e b. COGS is relatively stable due to
Slide 10: Revenue Analysis
Revenue Analysis Revenue contribution Revenue details Variance Q1-2017 Q1-2018 +/- % 0.8% 0.1% 3.0% 1.1% 7.2% Refined tin and tin solder 1,919.1 1,784.8 - 134.30 -7.0% Tin chemical 76.3 147.5 71.20 93.3% Hospital 50.0 61.5 11.50 23.0% Real estate - 16.8 16.80 100.0% Shipping dockyard 2.3 2.2 - 0.10
Slide 11: Refined Tin Distribution
Refined Tin Distribution Sales Destination 29% 96% As of March 2018 total sales of PT 33% Q1-2018 TIMAH amounted to 5,801 ton of which is refined tin sales of PT TIMAH (Persero) Tbk almost to meet the overseas market 14% (export) and about 4% to meet the domestic 10% market . 10% Jepang Korea selata
Slide 12: Cost Analysis
Cost Analysis COGS contribution COGS details 9.5% 8.8% 2.7% 12.5% 3.3% 4.9% Q1-2018 2.7% 0.3% 0.4% 6.1% 48.7% Raw materials of tin ore Salaries and allowances Fuel Depreciation and amortization Royalty Spareparts used Third party services Raw materials of tin chemical Transportation Direct materials
Slide 13: Operational Performance Quarterly (Yearly Basis)
Operational Performance Quarterly (Yearly Basis) Tin ore production (ton) Refined tin production (Mton) 7,675 6,963 23.0% 27.7% 5,361 5,550 Q1-2017 Q1-2018 Q1-2017 Q1-2018 Sales (Mton) Average Selling Price ($/t) 5.1% 21,470 6,963 16.7% 5,801 20,428 Q1-2017 Q1-2018 Q1-2017 Q1-2018 13
Slide 14: Operational Performance Quarterly
Operational Performance Quarterly Tin ore production (ton) Refined tin production (Mton) 7,675 8,403 7,776 7,942 7,932 7,324 6,963 7,412 5,550 5,361 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Sales (Mton) Average Selling Price ($/t) 8,326 21,470 6,963 7,441 7,184
Slide 15: Downstream - Operational Performance Quarterly (Yearly Basis)
Downstream - Operational Performance Quarterly (Yearly Basis) Average Selling Price Tin solder production (Ton) Tin solder sales (Ton) Tin solder ($/Ton) 382.4% 357 21,643 156.1% 292 4.1% 114 20,759 74 Q1-2017 Q1-2018 Q1-2017 Q1-2018 Q1-2017 Q1-2018 Average Selling Price Tin chemical (Ton) Tin chemi
Slide 16: Tin Solder - Operational Performance Quarterly
Tin Solder - Operational Performance Quarterly Tin solder production (ton) Tin solder sales (ton) Average Selling Price ($/t) 439 431 21,643 357 329 285 292 299 20,759 274 20,646 20,421 19,983 114 74 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q1 2017 Q2 2017 Q3 2
Slide 17: Tin Solder - Operational Performance Quarterly
Tin Solder - Operational Performance Quarterly Tin solder production (ton) Tin solder sales (ton) Average Selling Price ($/t) 439 431 21,643 357 329 285 292 299 20,759 274 20,646 20,421 19,983 114 74 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q1 2017 Q2 2017 Q3 2
Slide 18: Innovation Technology (1/2)
Innovation Technology (1/2) 18
Slide 19: Innovation Technology (2/2)
Innovation Technology (2/2) Technology Fuming 30% progress Tin ore will be re-melted in a furnace to obtain metal with Estimated Q4-2018 recovery 95% commissioning & commercial Scrubber pool & water Scrubber pool circulating pool 19
Slide 20: End of Report
End of Report & TIMAH