PT Mitra Pinasthika Mustika Tbk · IDX:MPMX
PT Mitra Pinasthika Mustika Tbk — 9M17 Earnings Presentation
24 slides from PT Mitra Pinasthika Mustika Tbk's earnings presentation, November 2017
Slide 1: 9M17 MPM Company Highlights and Financial Results
9M17 MPM Company Highlights and Financial Results (Ticker: MPMX) November 2017
Slide 2: MPM: From Pipeline to Platform Business
MPM: FROM “PIPELINE” TO “PLATFORM” BUSINESS OUR VISION To positively impact lives through smart mobility and social integration OUR MISSION To create ecosystems of the best ideas (game changing innovation) delivered through the most relevant products and services (understanding people better) in the
Slide 3: Table of Content
TABLE OF CONTENT 01 MPM: Company Highlights 02 Consolidated Financial Results: 9M17 Updates 03 Business Segment Performance 3
Slide 4: MPM in a Snapshot: Leading Smart Mobility Company in Indonesia
MPM IN A SNAPSHOT: LEADING SMART MOBILITY COMPANY IN INDONESIA Market expertise Strong Corporate Significant Growth With 30 year of experience Governance & Financials Potentials • Est. in 1987 by W. Soeryadjaya as • BOC & BOD has over 100 years of • 4 main business segments, each with 2W distributio
Slide 5: MPM Business: Collective Power
MPM BUSINESS: COLLECTIVE POWER Distribution & Retail Consumer Parts 77% 10% • 2W Honda distribution in E. Java + NTT 6% • 2W & 4W engine lubricant principal & with 288 dealer relationships, serving parts distribution company ~4.6MM active customers 7% • 3,300+ Federal Oil Centers & 10,000+ 3rd • 2W
Slide 6: Governance and Management
GOVERNANCE AND MANAGEMENT Board of Commissioners Board of Directors Strong mix of operational, strategy, M&A, and governance Over 100 years of combined professional experience expertise Rudy Halim Edwin Soeryadjaya Group CEO Chairman Tossin Himawan Troy Parwata Agung Kusumo Titien Supeno Andi Esfand
Slide 7: MPM Group Network: Presence Across Indonesia
MPM GROUP NETWORK: PRESENCE ACROSS INDONESIA 26 MPMInsurance Offices & Outlets 48 FKT Distributors for Federal Oil & Federal Mobil 35 MPMRent Offices & Service Points 5 MPMAuto Dealers 86 MPMFinance Offices & Outlets 40 MPMotor Retail Outlets 288 MPMulia Dealers 7 Resource: MPMX, as of 30 Sep 2017
Slide 8: Table of Content
TABLE OF CONTENT 01 MPM: Company Highlights 02 Consolidated Financial Results: 9M17 Updates 03 Business Segment Performance 8
Slide 9: 9M17 Revenues: Segment Contribution & Movement
9M17 REVENUES: SEGMENT CONTRIBUTION & MOVEMENT Revenues 9M17 Revenues Growth % YOY, in Rp billion 11% Rp 11.9T 80% (637) (25) 173 43 (20) 8% 4.3% QoQ, -3.8% YoY 12,384B 11,919B -4% 1% 9M17 9M16 YoY revenue growth %YoY -6% -2% +21% +45% Distribution & Retail Consumer Parts Auto Services *Financial Se
Slide 10: 9M17 NPATMI: Segment Contribution & Movement
9M17 NPATMI: SEGMENT CONTRIBUTION & MOVEMENT NPATMI 9M17 NPATMI Growth % YOY, in Rp billion Rp 363B -79.4% QoQ, 25.4% YoY 33 69 (21) (2) (34) 12 16 363B Distribution & Retail 41% 290B Consumer Parts 41% +25% 9M17 9M16 Auto Services YoY NPATMI growth 10% Financial Services *8% %YOY -1% -15% +70% +54%
Slide 11: 9M17 Financial Highlights
9M17 Financial Highlights P&L Highlights 9M17 QoQ% YoY% %Rev B/S Highlights 9M17 QoQ% YoY% Key Ratios 9M17 9M16 Net Revenues 11,919 4.3% -3.8% N/A Cash and Cash Equiv. 1,719 30.8% 31.1% Net Debt/EBITDA* 0.8x 4.2x Gross Profit 1,368 1.6% -0.1% 11.5% Total Asset 10,176 4.4% -30.4% Net Debt/Equity 0.2x
Slide 12: Key Focus 2017: (1) Cost Leadership
KEY FOCUS 2017: (1) COST LEADERSHIP Financial Highlights (in Rp billion) 9M17 QoQ% YoY% %Rev Total Opex 819 1.0% -0.4% 6.9% • Compensation & Benefit 324 0.5% -2.3% 2.7% • Advertising & Promotion 155 9.1% -11.4% 1.3% • Transportation & Storage 60 -0.8% -9.8% 0.5% • Provision 19 -5.6% 85.6% 0.2% Reven
Slide 13: Key Focus 2017: (2) Operating Cash Flow
KEY FOCUS 2017: (2) OPERATING CASH FLOW 9M17 Cash Flow (in Rp billion) Operational Highlights 1,719 1,484 1,202 1,311 822 9M16 9M17 9M16 9M17 YoY% 735 365 AR Days 16.9 16.8 -0.8% AP Days 27.9 27.7 -0.8% (344) Inventory Days 15.0 16.0 6.4% (566) (671) Balance as of Operating Investing Financing Balan
Slide 14: Key Focus 2017: (3) Collaborative Economy & New Growth
KEY FOCUS 2017: (3) COLLABORATIVE ECONOMY & NEW GROWTH Collaborative Economy- ACE Performance Improving cross-selling and up-selling between operating companies, aligned with the Accelerated Collaborative Economy initiatives. New Growth-MPM Planet-The Power of Network Effects Rally Point App is
Slide 15: Bidbox: 4W Online Multi-brand Platform
Bidbox: 4W Online Multi-brand Platform 15
Slide 16: Recent Key Events: Aug – Oct 2017
RECENT KEY EVENTS: Aug – Oct 2017 Aug’17 Sep’17 Oct’17 Oct’17 Oct’17 MPMulia is ranked MPMInsurance awarded FKT received 2 Indonesia MPM Group is listed on MPM Group awarded Most 1st in Astra Honda 1st for Best Financial Best Brand Award 2017 for Forbes Indonesia “50 Best Powerful Companies 2017, Te
Slide 17: Table of Content
TABLE OF CONTENT 01 MPM: Company Highlights 02 Consolidated Financial Results: 9M17 Updates 03 Business Segment Performance 17
Slide 18: 2W Distribution & Retail: Continue Leadership in E. Java and NTT
2W DISTRIBUTION & RETAIL : CONTINUE LEADERSHIP IN E. JAVA AND NTT 9M17 Highlights Sales Volume (Unit in thousands, YoY%) +1% -5% o Lower sales volume was driven by weak consumer purchasing -7% Mulia 902 912 864 power due to poor harvest as a result of unfavorable weather in 677 629 the region. FY15
Slide 19: 4W Dealership: Improve Sales Productivity & Service Level
4W DEALERSHIP : IMPROVE SALES PRODUCTIVITY & SERVICE LEVEL 9M17 Highlights Sales Volume (Units, YoY%) +29% o Sales Volume and Revenue decline due to lack of new products from Nissan and Datsun and lower number of dealerships due -57% -66% 3,680 4,755 2,063 4,093 1,401 to scaling down of operations.
Slide 20: Consumer Parts: Strengthen Channel & New Product Development
CONSUMER PARTS: STRENGTHEN CHANNEL & NEW PRODUCT DEVELOPMENT 9M17 Highlights Sales Volume (Units in thousands of liters, YoY%) o Lower sales volume is mainly due to slow market condition. +7% -5% -6% o NPAT is lower as compared to last year due to higher 59,200 63,341 60,298 47,981 44,938 outsourcin
Slide 21: Auto Services: Maintain Operational Excellence & Cash Flow
AUTO SERVICES: MAINTAIN OPERATIONAL EXCELLENCE & CASH FLOW 9M17 Highlights Fleet Size (Units, YoY%) o Revenue increased due to higher disposal value of used cars. +1% -7% -8% o Strong NPAT growth driven by OPEX effiencies and finance cost 13,935 14,137 13,154 14,299 13,154 savings. FY15 FY16 TTM 9M1
Slide 22: MPMInsurance: Increase Penetration Group & Non-Group Businesses
MPMINSURANCE: INCREASE PENETRATION GROUP & NON-GROUP BUSINESSES 9M17 Highlights Gross Premium (in Billions of Rupiah, YoY%) o Gross premium grew steadily driven by increase in new +19% +49% +27% policies especially for the MV and Fire segment. o NPAT increase was primarily due to higher underwriting
Slide 23: MPMFinance: Selective Growth While Maintaining Focus on Asset Quality
MPMFINANCE: SELECTIVE GROWTH WHILE MAINTAINING FOCUS ON ASSET QUALITY New Booking (in Billions of Rupiah, YoY%) 9M17 Highlights +23% +37% +33% o Asset quality improved YoY basis as reflected by NPL level. 4,944 4,015 2,934 3,765 3.2% 3.2% 2.7% 2.6% 2.8% 2,836 2.3% FY15 FY16 TTM 9M16 9M17 Revenue (in
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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