Pt Surya Semesta Internusa Tbk · IDX:SSIA
Pt Surya Semesta Internusa Tbk — FY2020 Earnings Presentation
71 slides from Pt Surya Semesta Internusa Tbk's earnings presentation, Apr 29, 2021
Slide 1: Review Full Year 2020
S 5 Waa suryainternusa BUILDING A BETTER INDONESIA PT Surya Semesta Internusa Tbk (“SSIA”) Review Full Year 2020 www. suryainternusa. com
Slide 2: Table of Contents
Table of Contents Surya Semesta Internusa in Summary Review of Business Segments • Milestone • Major Subsidiaries, PROPERTY Shareholders & Management • PT Suryacipta Swadaya (“SCS”) • Investment Portfolio • PT SLP SURYA TICON INTERNUSA (“SLP”) • Strategic Roadmap • PT TCP Internusa (“TCP”) • Indones
Slide 3: Surya Semesta Internusa in Summary
Surya Semesta Internusa in Summary
Slide 4: PT Surya Semesta Internusa Tbk milestones
PT Surya Semesta Internusa Tbk • Operating track record in property sector can be traced back to almost 50 2017 years in early 1970s Divestmet • Significant growth since IPO 2014 Cikopo Palimanan – Raised over IDR 545 billion equity(1) • Acquired location Toll road at 3X BV – Raised over IDR 1,600 b
Slide 5: Company overview and shareholding structure
Shareholding Structure 9.0% • Established and commenced operations in 1971, SSIA’s primary businesses 7.9% PT Arman Investments Utama are in construction, property and hospitality sectors PT Persada Capital Investama 7.7% Intrepid Investments Limited • One of the Leading Listed Developers in Indones
Slide 6: Board of Commissioners and Board of Directors
Board of Commissioners >40 Years >50 Years >50 Years >45 Years >20 Years Experience Experience Experience Experience Experience Hagianto Kumala Emil Salim Royanto Rizal Steen Dahl Poulsen Crescento Hermawan President Commissioner Vice President Commissioner Commissioner Commissioner Commissioner Pri
Slide 7: PT Surya Semesta Internusa Tbk group structure
PT Surya Semesta Internusa Tbk Market cap: IDR 2.7tn / US$ 192mn 100% 100% 100% 50% 100.0% 66.0% 100% 86.8% 100% PT Nusa PT SLP Raya Cipta PT Ungasan PT Suryalaya PT Surya PT Suryacipta PT Sitiagung PT Surya PT TCP SURYA TICON Tbk Semesta Anindita Internusa Swadaya Makmur Internusa Internusa INTERNU
Slide 8: Presence in Fifteen Indonesian Cities
Presence in Fifteen Indonesian Cities Medan Pekanbaru Subang Karawang • Regional office for Nusa Raya • Acquired location permit of • Suryacipta City of Industry (1,400ha) Cipta (“NRCA”) • BATIQA Hotel (Business Hotel, 2,717ha 3-star, 133 rooms) - Grand • BATIQA Hotel & Apartments Karawang (Business
Slide 9: Vision and strategic roadmap
Vision: To be the most a reliable, trusted and respected Indonesia property, construction and hospitality group of companies Continued focus on the construction and development of 1 Indonesian properties Prudent land banking strategy to deliver sustainable and 2 superior profit margins 3 Continued p
Slide 10: Revenue and EBITDA across business segments
Revenue Across Business Segments (FY19) Revenue Across Business Segments (FY20) IDR 4,006bn IDR 2,947bn Property 15% Property 22% Construction 65% Construction 71% Hospitality 20% Hospitality 7% 0.0% 20.0% 40.0% 60.0% 80.0% 0.0% 20.0% 40.0% 60.0% 80.0% EBITDA Across Business Segments (FY19) EBITDA A
Slide 11: Consolidated Revenue, Gross Profit, EBITDA, Net Income
Consolidated Revenue Gross Profit (FY19 vs FY20, IDR Billions) (FY19 vs FY20, IDR Billions) 4,006 2,947 2019 2020 EBITDA Net Income (FY19 vs FY20, IDR Billions) (FY19 vs FY20, IDR Billions)
Slide 12: Segment Revenue: Property, Construction, Hospitality
Property Segment Revenue (FY19 vs FY20, IDR Billions) Construction Segment Revenue Hospitality Segment Revenue (FY19 vs FY20, IDR Billions) (FY19 vs FY20, IDR Billions)
Slide 13: Consolidated and Recurring Revenue
Consolidated Revenue (2015-2020, IDR Billions) 4,006 4,006 3,797 3,682 678 3,274 811 811 2,947 803 2,947 697 220 220 2,476 2,611 2,611 2,454 2,082 2,082 2,164 660 414 442 588 652 588 652 2016 2017 2018 2019 2020 2019 2020 Property Construction Hospitality Others Recurring Revenue(1) (2015-2020, IDR
Slide 14: Gross Margins by segment
Hotel Gross Margins % Property Gross Margins % 100% 70% 80% 63.8% 63.4% 64.7% 63.5% 60% 60% 57.2% 40% 34.1% 52.2% 52.0% 51.0% 50% 48.8% 20% 0% 2016 2017 2018 2019 2020 40% Construction Gross Margins(1) % 30% 15% 11.0% 10.2% 9.9% 10.2% 10.4% 20% 10% 10% 5% 0% 0% 2016 2017 2018 2019 2020 2016 2017 201
Slide 15: Financial Highlights: Consolidated Profit & Loss
ial suryainternusa Financial Highlights wa Consolidated Profit & Loss Revenue 3,797 3,274 3,682 4,006 2,947 Revenue Growth -22% -14% 12% 9% -26% Gross Profit 1,069 864 981 1,091 635 Gross Profit Margin 28% 26% 27% 27% 22% EBITDA 613 413 455 533 256 EBITDA Margin 16% 13% 12% 13% 9% Operating Profit 4
Slide 16: Consolidated Revenue by Business Segment
Financial Highlights Ne Consolidated Revenue by Business Segment Property 660 414 442 588 652 Segment percentage 17% 13% 12% 15% 22% Construction 2,476 2,164 2,454 2,614 2,082 Segment percentage 65% 66% 66% 65% 71% Hospitality 678 697 803 811 220 Segment percentage 18% 21% 22% 20% 7% Others 27 17 10
Slide 17: EBITDA definition
(7) EBITDA defined as net income, before interest expenses, tax expenses, depreciation and amortization expenses, includes JO income (loss)
Slide 18: Consolidated Net Profit by Business Segment
Financial Highlights Ne Consolidated Net Profit by Business Segment Property 234 80 127 159 104 Segment percentage 77% 48% 49% 58% -341% Construction 101 153 123 105 59 Segment percentage 33% 92% 48% 39% -194% Hospitality (29) (66) 8 8 (193) Segment percentage -10% -39% 3% 3% 635% Others (207) 1,077
Slide 19: Consolidated Balance Sheet
In IDR Billions 2016 2017 2018 2019 2020 Current Assets 3,381 5,085 3,459 4,058 3,004 Cash & ST Investments 1,520 1,145 1,372 1,527 851 Account Receivables 1,129 1,129 1,239 1,515 1,419 Inventories 392 415 463 422 490 Other-Current Assets 340 2,396 385 593 245 Non-Current Assets 3,815 3,766 3,946 4,
Slide 20: Debt and financial ratios
In IDR Billions 2016 2017 2018 2019 2020 Bank/Third parties Loan IDR denominated in IDR Billions 2,457 2,271 1,507 1,194 1,305 US$ denominated in IDR Billions - - - 662(1) 676(1) Total Debt in IDR Billions 2,457 2,271 1,507 1,856 1,981 Debt to Equity Ratio 73% 51% 34% 41% 47% ROE 2.1% 29.4% 1.0% 2.3
Slide 21: Review of Business Segments
s > Vaan) BUILDING A BETTER INDONESIA suryainternusa Review of Business Se
Slide 22: Property
PROPERTY - PT Suryacipta Swadaya (“SCS”) - PT SLP SURYA TICON INTERNUSA(“SLP”) - PT TCP Internusa (“TCP”) - PT Sitiagung Makmur (“SAM”)
Slide 23: DDI and FDI investment in Indonesia
70 400 348 57 350 60 54 54 52 28.7 300 50 24.5 25.8 45 19.6 44 274 250 16.1 40 14.4 208 175 191 200 30 186 150 20 100 32.2 29.3 28.9 29.3 28.2 28.7 10 50 0 0 2015 2016 2017 2018 2019 2020 DDI (US$ b) FDI (US$ b) Total FDI+DDI Land Sales (ha) Source: BKPM (Indonesia Investment Coordinating Board), Co
Slide 24: Industrial Sector Fundamentals
INDUSTRIAL SECTOR FUNDAMENTALS Source: Colliers 4Q 2020 Research
Slide 25: Industrial Sector Fundamentals
INDUSTRIAL SECTOR FUNDAMENTALS Source: Colliers 4Q 2020 Research
Slide 26: Industrial/Property business model
Master Plan Basic Infrastructure & Marketing Sales Sites Preparation & Finishing Land Create Build basic infrastructure Completion and acquisition masterplan Preparation of site Handover (Industrial/Property) Business Model Execute Interested Marketing Purchase customer Preparation of projects proce
Slide 27: Industrial Estate (SCS) Land Sales and Non-Land
Industrial Estate (SCS) Land Sales Industrial Estate (SCS) Non-Land
Slide 28: Suryacipta ASP and Property Segment Revenue
Suryacipta City of Industry ASP (US$ / sqm) 200 121 120 120 121 129 100 0 2016 2017 2018 2019 2020 Property Business Segment Revenue (2016-2020, IDR Billions) 660 652 652 55 588 588 59 59 71 71 414 442 55 71 605 593 593 517 517 358 371 2016 2017 2018 2019 2020 2019 2020 Industrial Estate Rental Prop
Slide 29: Subang Smartpolitan synergies and connectivity
Increased connectivity between Subang Smartpolitan strategically located at Realizing synergies with existing West part of Java Island (Banten, projects of the company West Java and Jakarta) connected with toll roads (December 2020)
Slide 30: Infrastructures & Accessibilities
suryainternusa > tas Infrastructures & Accessibilities Patimban Seaport To Central Java A Jakarta-Surabaya High Speed Raiway ' seaeewaneas a Seeee namie ewewetawenenewee: aann eww ae ' Elevated Toll Road : ' ku Ka Ku ku kM ko Ku ‘eat 13,16 21 24 3a 34 aT a 2 Bekasi Tambun —Cibitung-Cikarang = Cibatu
Slide 31: Suryacipta tenant mix and land inventory
Industrial Area Commercial Area Utility To Jakarta Well-Diversified Current Tenant Mix West Karawang Community Facilities Sold Area Interchange Tenant Landbank by Sector Tenant Landbank by Country Jakarta – Cikampek Toll Gate Toll Road 17% 2% 8% 4% Toll To Karawang 1% 4% Gate East Karawang Phase II
Slide 32: Government support for industrialization drives FDI
Government support for industrialization leads to higher FDI inflow and expansion of domestic manufacturers as they have fully utilized their capacity, spurs demand for land in industrial estate
Slide 33: Groundbreaking and unit sales
✓ Groundbreaking 21 March 2020 ✓ 11 SOLD (UTJ) & 1 RESERVED (NUP) in 2020
Slide 34: Glodok Plaza (GP)
Glodok Plaza (GP) Occupancy Rate (%) Revenue (in IDR billions) 100% 60 55 55 56 90.0% 53 90% 85.0% 79.0% 79.0% 50 80% 75.9% 44 70% 40 60% 50% 30 40% 20 30% 20% 10 10% 0% 0 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020
Slide 35: PT SLP Surya Ticon Internusa
• PT Surya Semesta Internusa Tbk (Indonesia) – 50% stake 120% • MITSUI & CO., Ltd (Japan) - 25% stake 97.6% 96.3% • Frasers Property Plc. (formerly Ticon Industrial Connection 100% 92.6% 92.2% PT SLP Plc.) (Thailand) – 25% stake SURYA TICON 77.8% 80% INTERNUSA • Jointly acquiring 22ha total land are
Slide 36: Property: Operating Result
suryainternuse rs Financial Highlights Property : Operating Result (in IDR Billions) | we wir soe poe eo | Revenue 660 414 442 588 652 Revenue Growth -25% -87% 7% 33% 11% Gross Profit 378 202 225 307 339 Gross Margin 57% 49% 51% 52% 52% EBITDA 315 139 175 244 281 EBITDA Margin 48% 34% 40% 42% 43% Op
Slide 37: Suryacipta City of Industry photos
Suryacipta City of Industry Entrance Commercial Area Developement Suryacipta City of Industry Factory Toll Exit Leading to Suryacipta City of Industry
Slide 38: Subang Smartpolitan
SUBANG SMARTPOLITAN
Slide 39: Subang Smartpolitan: Live, Work, Learn and Play
Subang Smartpolitan LIVE, WORK, LEARN and PLAY
Slide 40: Subang Smartpolitan launched November 2020
SUBANG SMARTPOLITAN LAUNCHED ON 18 NOVEMBER 2020
Slide 41: What We Offer
WHAT WE OFFER Qi SUBANG Pea CUTAN BY SURYACIPTA SEAMLE: CONNECTI' a)
Slide 42: Why Subang?
WHY SUBANG? Strategic Location ▪ The future of industrial corridor; ▪ Within the Rebana Metropolitan; ▪ Direct toll access (via TransJava toll road network); ▪ Close to Patimban Seaport; ▪ Close to West Java International Airport (Kertajati); ▪ Connected via railroad network as well as the planned
Slide 43: Masterplan
MASTERPLAN Patimban Toll Road (direct access to Patimban Seaport) Direct Access from Cipali- Patimban Toll Construction: Q2-2022 Toll Exist Ready: Q2-2023 Completion: Q1-2024 Subang Smartpolitan, the pioneer of smart and sustainable city development that leverages technology and IOT to promote effic
Slide 44: Phase 1 Development (Southern Area)
Phase 1 Development (Southern Area) Industrial Plots Land Coverage Ratio (KDB) : 60% of total land size Floor Coverage Ratio (KLB) : 240% of total land size Building Setback (GSB) ▪ Front (Main Road) : 15m ▪ Front (Secondary Road) : 12m ▪ Side : 6m ▪ Back : 8m Green Area : 7.5% of total land
Slide 45: Festival Gateway
NORTH SMART CORE Festival Gateway (TOD Eco Business Park & Creative Cluster) Page 45
Slide 46: Riverfront Skyline
SEZ SMART CORE Riverfront Skyline (MICE Centre & Discovery Park) Page 46
Slide 47: Innovation Campus
SOUTH SMART CORE INNOVATION CAMPUS (Education & Innovation Centre) South Smart Core, a 60Ha development located in the South Smart Core Particular heart of Subang Smartpolitan, host of: • Land Coverage Ratio (KDB) : 60% of total land size ▪ Diamond Bay: • Floor Coverage Ratio (KLB) : 600% of total l
Slide 48: Infrastructure: Patimban Toll Access
INFRASTRUCTURE – PATIMBAN TOLL ACCESS • The JM Consortium (consisting of PT Jasa Marga (Persero) Tbk, PT Surya Semesta Internusa Tbk, PT Jasa Sarana and PT Daya Mulia Turangga) has been granted approval as Project Initiator of the Patimban Access Toll Road with a Right to Match as stipulated in Mini
Slide 49: Infrastructure: Patimban Toll Access schedule
INFRASTRUCTURE – PATIMBAN TOLL ACCESS The Alignment of Toll Road has been decided and it will pass through our development land. Technical Aspect Total Length 37.7 km Estimated Schedule Investment Tender Q2-2021 Land Acquisition 2021-2022 Construction 2022-2023 Operation 2024
Slide 50: Subang Smartpolitan Phase-I Land Development
SUBANG SMARTPOLITAN PHASE-I LAND DEVELOPMENT
Slide 51: Patimban Port Updates
PATIMBAN PORT UPDATES • Inauguration 20 Dec 2020
Slide 52: Construction: PT Nusa Raya Cipta Tbk
s suryainternusa Vaan) BUILDING A BETTER INDONESIA CONSTRUCTION - PT Nusa Raya Cipta Tbk (“NRCA”)
Slide 53: Construction business model
Appointment Delivery and Process Payment Process between Working Parties Handover Tender Invitation Final Delivery Retention And Period Payment of Retention Business Model (Construction) Tender Submission Negotiation Advance Payment Monthly Down Down Payment to (Bank Progress First Payment Payment S
Slide 54: Market share, profitability and customer profile
Top Three Largest Market Share … Profitability Amongst Private Companies (2016-2020, Revenue, IDR Trillions) Profit Margin (%) – 2020 5.0 2.29 4.0 3.0 1.03 2.0 2.09 1.0 1.20 0.32 0.0 2016 2017 2018 2019 2020 Nusa Raya Cipta Jaya Konstruksi Total Bangun Persada ACSET TOPS Source: IDX Note: Jaya Konst
Slide 55: New Contract Classification
(in IDR Billions) 2016 2017 2018 2019 2020 New Contract Classification (in IDR billions) 2,811 2,841 2,693 2,028 1,095 Contract on hand - 1% beginning 3,192 3,527 4,204 4,444 3,479 5% 0% 6% 8% 2% 3% 17% 11% 12% 13% 39% Contract obtained 2,811 2,841 2,693 2,028 1,095 Less: Revenue 3% progress - befor
Slide 56: NRCA Operating Result
Note: NRCA Operating Result doesn’t include intercompany eliminations - ROE are annualized
Slide 57: NRCA balance sheet
In IDR Billions 2016 2017 2018 2019 2020 Assets Cash & Cash Equivalents 447 657 736 689 578 Account Receivable 1,111 1,085 1,198 1,468 1,381 Project Advance 23 31 38 34 22 Investment Toll Road 125 0 0 0 0 Others 428 569 283 272 241 Total Assets 2,134 2,342 2,255 2,463 2,221 Liabilities Bank Debt - -
Slide 58: Excellent Work Quality Across Sectors
Excellent Work Quality Across Sectors RS Budi Medika (Lampung) Mayapada Banua Centre (Banjarmasin) Ayana Komodo Resort (Labuan Bajo) Pembelajaran Arntz-Geise Unpar The Park Mall Sawangan (Depok) Carstensz (Tangerang) (Bandung)
Slide 59: Hospitality
s 5 Vaan) BUILDING A BETTER INDONESIA suryainternusa Hospitality - PT Suryalaya Anindita International (“SAI”) - PT Ungasan Semesta Resort (“USR”) - PT Surya Internusa Hotels (“SIH”)
Slide 60: Hotel market (Colliers, STR Global)
Source: Colliers 4Q 2020 Research & STR Global
Slide 61: Hotel market (Colliers, STR Global)
Source: Colliers 4Q 2020 Research & STR Global
Slide 62: Hospitality revenue, occupancy and RevPAR
Revenue Occupancy Rate (2016-2020, IDR Billions) (2016-2020, %) Seven BATIQA Hotels(1) 80% 70% 60% 39.2% 50% 40% 803 811 881 17.9% 30% 15.1% 101 101 20% 97 15.4% 678 697 10% 2016 2017 2018 2019 2020 66 80 144 144 144 Gran Melia Melia Bali Banyan Tree BATIQA 155 151 Room RevPar (3) (2016-2020, US$) 3
Slide 63: ARR and RevPAR by hotel
ARR ($) 2016 2017 2018 2019 2020 GMJ 109 103 94 88 72 MBH 94 101 113 118 101 BTUR 442 466 468 440 393 BATIQA (Rp) 303,507 300,366 332,953 314,449 302,845 Room RevPAR ($) 2016 2017 2018 2019 2020 GMJ 50 46 48 40 11 MBH 73 77 87 93 18 BTUR 287 281 257 254 59 BATIQA (Rp) 162,585 184,244 210,254 200,519
Slide 64: Hospitality growth and profit
220 -73% 75 34% (113) -51% (200) -91% (193)
Slide 65: Photos of Gran Melia Jakarta
Photos of Gran Melia Jakarta Café Gran Via Red Level Reception Guest Room Reception
Slide 66: Photos of Melia Bali Hotel
Photos of Melia Bali Hotel Villa Main Pool Lobby Hotel The Level Family Suite Room Swimming Pool
Slide 67: Photos of JUMANA BALI
Photos of JUMANA BALI (Formerly Banyan Tree Ungasan Resort) Sanctuary Villa Cliff Edge Villa Ju-Ma-Na terrace The White Dove Wedding Venue Sanctuary Villa Cliff Edge (jetpool) Swimming Pool – Sanctuary Villa
Slide 68: Photos of BATIQA Hotels
Photos of BATIQA Hotels Suite Room FRESQA Bistro Exterior view of BATIQA Hotel Cirebon Lobby Meeting Room
Slide 69: Strategic partners
Industrial Partner Industrial Partner Industrial Partner Hotel Partner Hotel Partner Trans-Java Toll Road network Trans-Java Toll Road network Country Japan Japan Thailand Spain Singapore Indonesia Malaysia Business • One of Japan’s major • One of the most • Develops and provides • One of Spain’s le
Slide 70: Disclaimer
These materials have been prepared by PT Surya Semesta Internusa Tbk (the “Company”, “SSIA”) These materials are for information purposes only and do not constitute or form part of an and have not been independently verified. No representation or warranty, expressed or implied, offer, solicitation o
Slide 71: Building a Better Indonesia
suryainternusa ATS BUILDING A BETTER INDONESIA
PT Surya Semesta Internusa — FY2020 Earnings Presentation on 6ix