PT Indika Energy Tbk · IDX:INDY
PT Indika Energy Tbk — 9M19 Earnings Presentation
69 slides from PT Indika Energy Tbk's earnings presentation, October 2019
Slide 1: Company Update 9M19
COMPANY UPDATE 9M19 PT Indika Energy Tbk. October 2019
Slide 2: Shareholder Structure
Shareholder Structure By 30 Sept 2019 By 30 Sept 2018 Changes YoY No Description No. of No. of No. of shares % No. of shares % % Investors Investors I. Domestic Retail 17,566 1,126,583,895 21.6% 11,526 871,882,984 16.7% 22.6% Employee 15 8,086,000 0.2% 20 9,569,500 0.2% -18.3% Cooperative 6 819,500
Slide 3: Table of Contents
Table of Contents Results Overview Page # Commodity Price Outlook 4-5 Key Highlights 6 Financial Statement Overview 7–8 Detail Income Statement Analysis 9 - 10 Cash & Debt 11 – 12 Kideco Financial & Operational Overview 13 – 15 Asset Overview 16 – 18 Kideco Acquisition 19 – 20 Subs
Slide 4: Global Commodity Prices & Indicators slightly declined in 3Q19
Global Commodity Prices & Indicators slightly declined in 3Q19 while ICI-4 dropped further Newcastle vs. QHD 5500 Price WTI Oil Price 800 QHD 5500 160.0 80 74.2 700 NEWCASTLE (RHS) 682 710 682 580 140.0 70 623 597 582 60.158.5 600 589 120.0 60 59.5 60.4 569 114.4 53.7 54.1 500 97.3 103.0 100.0 50 53
Slide 5: Coal Price Trend: Newcastle, ICI-3 & ICI4
Coal Price Trend : Newcastle, ICI-3 & ICI4 US$/ton Newcastle ICI-3 ICI-4 140.0 Avg. 2018 120.0 117.5 Newcastle : 107.3 ICI-3 : 60.7 100.0 102.9 104.5 104.4 ICI-4 : 42.1 95.9 80.0 79.9 Avg. YTD Sept 2019 70.0 68.2 Newcastle : 81.3 60.0 64.4 ICI-3 : 50.8 59.2 49.4 53.1 51.7 ICI-4 : 35.3 48.2 44.6 47.7
Slide 6: Key Highlights
Key Highlights Kideco’s Coal Production & Strip Ratio Coal Production ('MT) Strip Ratio (x) 25.0 10.0 20.0 8.0 6.6 6.7 6.8 6.5 6.6 15.0 6.3 6.2 6.3 6.2 6.4 6.4 6.0 5.9 5.9 5.7 5.9 5.9 6.0 10.7 5.3 5.4 9.8 9.8 8.8 9.1 10.0 8.7 8.4 8.0 7.8 7.9 7.9 7.8 8.4 7.9 8.2 8.3 8.6 8.3 8.2 4.0 5.0 2.0 - - 1Q15 2
Slide 7: Indika Energy's Consolidated Balance Sheet
Indika Energy’s Consolidated Balance Sheet Summary (US$ mn) 9M19 9M18 YoY FY18 YTD Cash balance* 754.5 785.4 -3.9% 763.1 -1.1% Current assets 1,490.3 1,436.1 3.8% 1,459.8 2.1% Total assets 3,704.1 3,678.8 0.7% 3,670.0 0.9% Current liabilities 757.2 627.4 20.7% 670.4 12.9% Total Debt** 1,506.4 1,433.
Slide 8: Consolidated Income Statement Highlights
Indika Energy’s Consolidated Income Statement Highlights Quarter Data Yearly Data Summary P&L (US$mn) 3Q19 3Q18 YoY 2Q19 QoQ 9M19 9M18 YoY Revenues 699.4 733.2 -4.6% 679.7 2.9% 2,079.9 2,180.4 -4.6% COGS (607.0) (559.1) 8.6% (561.9) 8.0% (1,752.0) (1,628.5) 7.6% Gross Profit 92.5 174.2 -46.9% 117.8
Slide 9: Consolidated Revenue Breakdown
Consolidated Revenue Breakdown * Revenues 9M19: US$2,079.9 million 9M18: US$2,180.4 million MBSS Others MBSS Others 2.7% 2.8% Tripatra 2.3% 1.6% 8.2% Tripatra 13.5% Petrosea 13.3% Petrosea Kideco 16.9% 53.2% Kideco Indika 62.2% Resources Indika 12.4% Resources 10.8% Subsidiary 9M19 Revenues (US$ mn)
Slide 10: Disaggregation of Consolidated Earnings
Disaggregation of 6M19 Consolidated Earnings – Key Income Statement Segments Net Profit Disaggregation Revenue By Business Segment 2,080 64 165 2,080 61 304 379 1,194 243 1,752 24 100 12 86 143 44 -9 Kideco Indika Petrosea Tripatra MBSS Others Elimination Total Revenue COGS Inc from SG&A Other Inc.
Slide 11: Cash and Debt Position
Cash and Debt Position Cash and Debt Breakdown US$ million 1600.0 1,503.1 4) 1400.0 345.4 1200.0 32.7 1000.0 754.51) 800.0 73.7 70.4 600.0 1,125.0 400.0 610.5 200.0 0.0 CASH DEBT Cash Fin. Assets Rest. Cash Bonds 2) Leases 4) Bank Loan 3) 1) PTRO: $62.5mn, MBSS: $51.9mn, Tripatra: $200.8mn, Kideco:
Slide 12: Strong Cash Position and Low Net Debt Ratio
Strong Cash Position and Low Net Debt Ratio Cash Breakdown by Subsidiaries LTM Free Cash Flow US$ million HoldCo & Others Kideco Petrosea Tripatra MBSS US$ million 350 323.0 300 34.6 40 51.9 133.6 250 152.5 200.8 211.0 81.3 200 184.0 59.6 62.5 144.4 171.3 150 136.9 91.1 118.7 122.9 42 39.9 37.5 100
Slide 13: Kideco's Operational Highlights
Kideco’s Operational Highlights Quarter Data Yearly Data Summary P&L (US$mn) 3Q19 3Q18 YoY 2Q19 QoQ 9M19 9M18 YoY Sales 384.3 469.9 -18.2% 400.1 -3.9% 1194.3 1408.7 -15.2% Gross profit 39.9 124.0 -67.8% 79.7 -50.0% 200.1 430.1 -53.5% Operating profit 33.1 111.5 -70.3% 67.6 -51.0% 171.9 398.9 -56.9%
Slide 14: China, Indonesia & Korea Drive Kideco's Sales
China, Indonesia & Korea Drive Kideco’s Sales 9M19 – Total Sales Volume: 26.1 mn ton 9M18 – Total Sales Volume: 26.1 mn ton Japan Others Japan Others Southeast Southeast 3.1% 2.4% 2.0% 2.9% Asia Asia 8.8% 8.4% Taiwan 4.4% Taiwan China China 5.2% 32.0% India 37.0% 7.1% India Korea 9.1% 8.6% Korea 10.
Slide 15: Kideco's Cash Costs: Among the Lowest in the Industry
Kideco’s Cash Costs: Among the Lowest in the Industry 9M19 Cash Cost 9M18 Cash Cost O/H Labor Others Labor Others 6.2% 0.9% 1.4% Freight 0.9% 1.6% Freight 4.9% O/H 5.1% 7.2% Material Material 8.4% 7.9% Gov. Royalty Gov. Royalty 16.8% 18.6% Contract Contract Mining + Rental Mining + Rental 58.8% 61.2
Slide 16: Kideco Inside the Numbers
Kideco Inside the Numbers Reserves by Calorific Value Reserve to Resources (MT) 4,700-5,000 5,000-5,500 5,500+ 8% 1% 1% Reserves, 569 Resources, 4,200-4,500 1625 90% Resources By Mine (MT) Reserves By Mine (MT) Roto South G Suwi Roto South Suwi Roto South Roto North 3.0 Roto Middle 26.0 12.0 124.0 R
Slide 17: Attractive Location With Well Built Infrastructure
Attractive Location With Well Built Infrastructure JORC resources as of December 2017 stood at 1,625 MT and reserves at 569 MT. Kideco produces a range of sub-bituminous, ultra-low sulphur (0.1%) and low ash (average between 2.1% to 4.9%) coal Kideco has engaged in surface open-cut mining since 1993
Slide 18: One of the Lowest Cost Operators from Mine to Port
One of the Lowest Cost Operators from Mine to Port Total Reserves : 569MT Total Resources : 1,625MT Publicly Listed Competitor C Logistic Total Reserves : 223MT • Hauling road 38 Km Total Resources : 1,617MT • Barging & Shipping 58 km Logistic • Hauling road 40 Km to coal port • Conveyor belt from c
Slide 19: Kideco Acquisition Overview
Kideco Acquisition Overview Consideration Source & Use of Funds • Indika Energy entered into a SPA (Share Purchase Agreement) on 22 Source of Funds (US$ mn) September 2017 to acquire 40.0% and 5.0% of Kideco shares from Samtan and PT Muji Inti Utama, respectively. Notes Issuance $575.0 • The transac
Slide 20: Acquisition of additional 45% Stake in Kideco
Acquisition of additional 45% Stake in Kideco Accounting Treatment Impact Post Kideco Transaction One-Off Gain on Revaluation Calculation Goodwill Calculation Description UoM Description UoM Transaction value 46% Kideco US$m 529.0 Cash consideration paid US$m 517.5 Book Value 46% Kideco US$m (144.8)
Slide 21: Supported by Improving Subsidiary Results
Supported by Improving Subsidiary Results Petrosea MBSS Tripatra Cirebon Electric Power Total Backlog Total Backlog Total Backlog 660MW Power Plant $741.4M $82.6M $415.2M 9M19 Net Income 9M19 Net Income 9M19 Net Income 9M19 Net Income $20.6M $0.5M $12.8M $30.9M (20% Indika) 9M19 EBITDA Margin 9M19 E
Slide 22: Value Creation: Synergy / Integration
Value Creation : Synergy / Integration 23% Overburden 39% Removal 50 mbcm/ 214 mbcm 50 mbcm/ 129 mbcm 37% Coal 54% Transported 12.5 MT/ 34 MT (Barging) 12.5 MT/ 23.3 MT 5% Coal 68% 1.7 MT/ 34 MT Sales 1.7 MT/ 2.5 MT 74% EPC 25% US$85m/ US$115m Contracts US$85m/ US$457.9m Total Construction Cost Back
Slide 23: 2019 Corporate Guidance Versus Actual
Indika Energy’s 2019 Corporate Guidance Versus Actual 2019 9M19 2018 YoY Target Actual Actual Change KIDECO Production (MT) 34.0 25.6 34.0 0.0% Strip Ratio (x) 6.3 6.4 6.3 0.0% Cash Cost xRoyalty ($/MT) 32.7 31.2 31.1 5.1% Capex ($Millions) 7.7 1.2 3.9 97.4% Overburden Volume (BCM) 214.0 163.3 216.6
Slide 24: 2019 Corporate Guidance
Indika Energy’s 2019 Corporate Guidance 2019 CAPEX 2019 Budget Operational Data Guidance Budget KIDECO (US$ million) Production (MT) 34 Kideco 7.7 Strip Ratio (x) 6.3 Petrosea 177.2 Newcastle Benchmark ($/ton) 85 Cash Cost xRoyalty ($/ton) 32.7 MBSS 11.7 Overburden Volume (BCM) 214.0 Tripatra 10.0 P
Slide 25: Recent Developments
Recent Developments • From July 31st until September 20th 2019, Indika Energy purchased additional stakes in Nusantara Resources from the market amounting to 1,872,845 shares or equal to 1.12% of Nusantara Resources’ total shares, bringing the Company's ownership to become 21.02%. 25
Slide 26: Peer Comparison (2Q19 Data)
Peer Comparison (2Q19 Data) PRODUCTION ANNUAL (MT) STRIP RATIO (x) CASH COSTS inc Royalty (US$/t) 60 14 13.2 62 55 59 57.6 57.6 55 12 56 50 53 10 50 45 47 40 8 44 39.8 34 41 35 5.9 6 38 35.6 4.3 4.5 35 30 4 32 25 23 23 29 2 26 20 23 15 0 20 ADRO INDY * PTBA ITMG PTBA ADRO INDY * ITMG ADRO PTBA INDY
Slide 27: Our Sustainability Initiatives
Our Sustainability Initiatives 27
Slide 28: Sustainability highlights in 2019
Sustainability highlights in 2019 Sustainability lies at the heart of all that we at Indika Energy have done, are doing and plan to do in the future, in order to ensure that our business operations and social empowerment programs deliver an ever greater contribution and positive differences to reinf
Slide 29: Education
EDUCATION Educating Indonesia to make a real difference We believe that education is the key to overcome problems and bringing positive changes to the society. With a well- educated and healthy community, prosperity would also increase. In 2019, we collaborated with Yayasan Pemimpin Anak Bangsa (YPB
Slide 30: Health
HEALTH Caring for the well being and health of our community Health is an important element in the development of Indonesian society. That’s why we designed a program that teaches the basics of good hygiene, sanitation, nutrition and knowledge about how to achieve better health within the broader co
Slide 31: Community Empowerment
COMMUNITY EMPOWERMENT Actively supporting communities through community empowerment programs Indika Energy’s community empowerment programs are designed based on the principle that helping people to be independent has a more sustainable impact. In East Kalimantan, since 2017 Petrosea has been foster
Slide 32: Environment
ENVIRONMENT Our responsibility to the environment We comply with and strive to exceed environmental regulations by consistently making positive decisions on sustainability to improve our operational processes and protect natural resources. Kideco’s comprehensive mine closure program does not only in
Slide 33: Building national character and the spirit of national tolerance
Building national character and the spirit of national tolerance based on the values of Pancasila Indika Energy established Indika Foundation (Yayasan Indika Untuk Indonesia) in 2017 with two main focuses, namely to build national character and spread the spirit of tolerance, so that we can jointly
Slide 34: Relentless pursuit of optimal safety performance
Relentless pursuit of optimal safety performance Safety is a primary concern throughout Indika Energy group due to the very nature of the coal mining and oil & gas sectors in which we operate. The concern for safety is not only for our employees, but also members of host communities Employee relatio
Slide 35: Committed to make a difference in communities
We cannot get through a day without having an impact on the communities, therefore we are committed to make a difference.. Petrosea's Donated Story telling on 17,400+ reforestation tolerance for students +1,700 covered 11,000+ education school children in benefited from IEG project sites Ha in three
Slide 36: Our Achievement
Our Achievement Kideco • ASEAN Coal Award/ ACA 2019 • Coal Mining Category – Sub Category Surface Mining (Winner) • Indonesia Sustainable Development Goals Awards 2019 • Overall : Grand Platinum • 7 out of 11 individual programs : Platinum • 4 out of 11 individual programs: Gold • Assessment of Envi
Slide 37: Appendix
INDIKA ENERAY Appendix 37
Slide 38: Indika Energy's Financial Highlights
Indika Energy’s Financial Highlights Gross Profit (USD mn) Operating Profit (USD mn) Income from Associates (USD mn) 650 641.2 508.1 160 500 136.2 520 400 120 390 300 327.9 223.2 80 72.6 200 59.5 260 122.9 100 40 130 88.3 88.7 34.1 24.0 (10.1) 20.6 (15.4) 0 0 2015 2016 2017 2018 9M19 0 2015 2016 201
Slide 39: Indika Energy's Key Business Indicators
Indika Energy’s Key Business Indicators Revenues (USD mn) LTM Adj EBITDA* (USD mn) & Adj EBITDA Margin (%) 2,962.9 2,800.0 EBITDA EBITDA Margin 2,400.0 700.0 652.5 30.0% 2,079.9 600.0 26.6% 2,000.0 25.0% 1,600.0 500.0 446.6 20.1% 20.0% 1,097.3 1,098.8 400.0 17.5% 15.6% 18.2% 1,200.0 291.9 15.0% 775.
Slide 40: Key Credit Ratios (1)
Indika Energy’s Key Credit Ratios (1) Gross Debt & Net Debt / LTM Adj. EBITDA (x) Debt / Capital (%) 6.0 60.0% 5.1 4.9 5.2 58.1% 4.9 5.0 56.4% 56.7% 4.0 55.0% 54.0% 3.2 3.4 52.3% 3.0 2.4 2.3 2.0 1.7 50.0% 1.1 1.0 - 45.0% 2015 2016 2017 2018 9M19 2015 2016 2017 2018 9M19 LTM Adj. FFO / Debt (%) LTM A
Slide 41: Key Credit Ratios (2)
Indika Energy’s Key Credit Ratios (2) LTM EBITDA / Interest (x) LTM Adj EBIT / Interest (x) 7.0 6.5 6.0 5.1 6.0 5.0 5.0 4.0 4.0 4.0 3.7 3.0 2.5 3.0 2.7 2.6 2.0 2.0 1.2 1.0 0.8 1.0 0.4 0.0 0.0 2015 2016 2017 2018 9M19 2015 2016 2017 2018 9M19 LTM FFO + Interest / Interest (x) LTM EBITDA Less Capex /
Slide 42: Indika Energy's Subsidiaries Backlog
Indika Energy’s Subsidiaries Backlog New Contract/ Remaining Contract Revenue Remaining Contract Adjustment Value Descriptions Value Recognition Value in 2019 Per 31 Dec 2018 Per 30 Sept 2019 Per 30 Sept 2019 Petrosea Contract mining 696.4 84.2 220.4 560.2 E&C 169.5 39.5 81.9 127.1 POSB 53.6 77.0 76
Slide 43: Capex Spending & Approved Dividend
Capex Spending & Approved Dividend * CAPEX Allocation Unit 2019 Budget 9M19 A Realization IE Holding USD mn 2.2 0.4 20.4% PTRO USD mn 177.2 64.2 36.2% MBSS USD mn 11.7 5.7 48.7% Tripatra USD mn 11.7 - 0.0% KGTE (Fuel Storage) USD mn 94.6 64.2 67.9% Kideco USD mn 7.7 1.2 15.7% Resources USD mn 12.1 2
Slide 44: Kideco's Financial Highlights
Kideco’s Financial Highlights Revenues (USD mn) Gross Profit (USD mn) Operating Profit (USD mn) 600 500 469.4 527.8 450.3 2,000 1,802.2 492.1 1,658.2 1,633.0 500 400 1,600 400 1,247.8 1,194.3 300 1,200 253.8 300 281.3 200.1 200 171.9 800 180.0 155.4 200 400 100 100 0 0 0 2015 2016 2017 2018 9M19 201
Slide 45: Kideco's Operational Highlights
Kideco’s Operational Highlights Overburden Removal (mn bcm) Coal Production (mn ton) Coal Sales (mn ton) 300 45 45 39.0 38.6 244.6 34.0 34.1 213.6 32.1 32.0 32.5 31.5 225 193.9 195.9 30 30 26.1 163.3 25.6 150 15 15 75 0 0 0 2015 2016 2017 2018 9M19 2015 2016 2017 2018 9M18 2015 2016 2017 2018 9M19 S
Slide 46: Petrosea's Financial Highlights (1)
Petrosea’s Financial Highlights (1) * Revenues (USD mn) Gross Profit (USD mn) Overburden Removal (mbcm) 500 465.7 80 73.1 140 121.1 400 378.7 60 57.2 105 97.6 97.0 313.5 300 45.7 206.8 209.4 40 34.9 66.0 70 57.3 200 29.1 100 20 35 0 0 0 2015 2016 2017 2018 9M19 2015 2016 2017 2018 9M19 2015 2016 201
Slide 47: Petrosea's Financial Highlights (2)
Petrosea’s Financial Highlights (2) * Revenues Breakdown by Value 9M19: USD378.7 mn 9M18: USD326.2 mn Other Other 0.6% 0.5% POSB POSB 19.6% 15.5% E&C E&C Contract Mining 23.6% Contract 21.6% 58.2% Mining 60.4% * Cost Structure 9M19: USD321.6 mn 9M18: USD273.8 mn Rental Material Other Rental Material
Slide 48: Petrosea's Contract Mining Operation
Petrosea’s Contract Mining Operation * Overburden Removal Volume (Mn BCM) Coal Getting Volume (Mn Tonne) 120 8.7% 40 -8.6% 90 32 24 60 89.2 97.0 16 26.9 24.6 30 8 0 0 9M18 9M19 9M18 9M19 Client 9M18 9M19 Client 9M18 9M19 KJA 30.6 38.1 KJA 6.6 7.5 TBG 31.7 36 TBG 14.9 13.1 IAC 3.2 0.0 IAC 0.8 0.0 ANZ
Slide 49: Tripatra's Financial Highlights (1)
Tripatra’s Financial Highlights (1) Revenue (USD mn) Gross Profit (USD mn) Net Profit* (USD mn) 500 475.9 60 40 45.0 28.4 375 45 41.7 25.8 304.1 22.8 274.8 278.3 34.2 24 250 217.5 30 27.5 12.8 18.9 125 15 8 0 0 2015 2016 2017 2018 9M19 2015 2016 2017 2018 9M19 2015 2016 2017 2018 9M19 -8 -5.5 Income
Slide 50: Tripatra's Financial Highlights (2)
Tripatra’s Financial Highlights (2) * Revenues Breakdown by Value 9M19: USD304.1 mn 9M18: USD184.8 mn TPE 7.5% TPE 12.2% TPEC 92.5% TPEC 87.8% Cost Structure 9M19: USD276.5 mn 9M18: USD148.0 mn Rental Others Rental Others 5.4% 6.6% 3.7% 6.0% Handling Handling 5.7% 7.9% Salary Material Salary Materia
Slide 51: Cotrans' Financial Highlights
Cotrans’ Financial Highlights Revenues (USD mn) Gross Profit (USD mn) Operating Profit (USD mn) 90 20 20 80.0 17.1 16.3 75 70.5 16 16 59.9 59.3 13.0 13.2 60 52.8 12.3 12.0 12.2 12 12 11.2 45 8.1 7.4 8 8 30 4 4 15 0 0 0 2015 2016 2017 2018 9M19 2015 2016 2017 2018 9M19 2015 2016 2017 2018 9M19 Net Pr
Slide 52: SBS' Financial Highlights
SBS’ Financial Highlights Revenues (USD mn) Gross Profit (USD mn) Operating Profit (USD mn) 35 20 20 31.2 29.4 28 24.9 16 16 24.7 23.8 14.0 14.0 13.6 13.3 13.0 12.7 21 11.5 12 12 10.7 10.7 10.0 14 8 8 7 4 4 0 0 0 2015 2016 2017 2018 9M19 2015 2016 2017 2018 9M19 2015 2016 2017 2018 9M19 Net Profit (
Slide 53: MBSS' Financial Highlights (1)
MBSS’ Financial Highlights (1) * Revenues (USD mn) Gross Profit (USD mn) EBITDA (USD mn) 100 20 35 89.8 29.5 30 75.4 16 15.1 75 68.5 24.0 65.8 25 21.9 60.6 11.7 12 20 18.4 50 14.8 15 8 4.9 10 25 4 2.5 5 0.9 0 0 0 2015 2016 2017 2018 9M19 2015 2016 2017 2018 9M19 2015 2016 2017 2018 9M19 Net Profit (
Slide 54: MBSS' Financial Highlights (2)
MBSS’ Financial Highlights (2) * Revenues Breakdown 9M19: USD60.6 mn 9M18: USD51.8 mn FC FC 29.5% 26.7% Barging Barging 70.5% 73.3% *Cost Structure 9M19: USD48.9 mn 9M18: USD49.7 mn Charter Charter 0.1% Others Others 4% Spareparts 14% 13.1% 7.2% Spareparts 7% Port charges Depreciation Depreciation 6
Slide 55: MBSS' Operating Highlights
MBSS’ Operating Highlights * Barging (mn ton) Floating Crane (mn ton) 19.4% 3.6% 19.1 10 20.0 8.3 8.6 16.0 8 16.0 12.0 6 8.0 4 4.0 2 0.0 0 9M18 9M19 9M18 9M19 Clients 9M19 9M18 Clients 9M19 9M18 Cotrans 10.2 9.6 Kideco 3.5 3.9 Adaro 2.6 2.3 BIB 1.1 0.4 Spot 1.3 1.0 ADRO 0.9 1.5 Berau 1.1 - BULK 0.6
Slide 56: MBSS Large Fleet of Vessels
MBSS Large Fleet of Vessels Barges Tug Floating Crane As of Additional/ (Disposal) As of Additional/ (Disposal) As of Additional/ (Disposal) Dec 31, 2018 YTD Dec 31, 2018 YTD Dec 31, 2018 YTD 78 -9 87 -2 4 0 Total 9M19 69 Total 9M19 85 Total 9M19 4 Support Vessel Floating Loading Facility As of Dec
Slide 57: Indika Resources' Financial Highlights
Indika Resources’ Financial Highlights Revenues (USD mn) Cost of Good Sold (USD mn) Gross Profit (USD mn) 450 400 50 395.6 359.4 360 320 306.5 40 319.8 36.2 221.5 28.6 270 239.0 243.1 240 209.3 214.5 30 216.7 180 160 20 17.5 13.3 90 80 10 7.4 0 0 0 2015 2016 2017 2018 9M19 2015 2016 2017 2018 9M19 2
Slide 58: Indika Resources' Financial Highlights (2)
Indika Resources’ Financial Highlights (2) * Revenues Breakdown 9M19: USD243.1 mn 9M18: USD281.3 mn MUTU 23.2% MUTU 35.9% Coal Trading 64.1% Coal Trading 76.8% MUTU ASP (USD/ton) * MUTU Cash Cost (USD/ton) 100 120 87.6 108.3 78.3 79.9 100 94.3 80 66.5 80 73.9 71.7 60 60 40 40 20 20 0 0 2015 2016 201
Slide 59: CEP's Financial Highlights
CEP’s Financial Highlights Revenues (USD mn) Gross Profit (USD mn) Operating Profit (USD mn) 300 150 150 261.9 245.7 250.0 240 229.6 120 120 109.9 104.2 188.5 98.4 91.4 93.0 86.7 180 90 80.9 90 74.9 66.2 63.2 120 60 60 60 30 30 0 0 0 2015 2016 2017 2018 9M19 2015 2016 2017 2018 9M19 2015 2016 2017 2
Slide 60: Fast Fact
INDIKA ENERAY 60
Slide 61: Indonesia's leading fully integrated energy company
Indika Energy, Indonesia’s leading fully integrated energy company PT Indika Energy Tbk. 1 Energy Resources 2 Energy Services 3 Energy Infrastructure 4 Other Portfolios - Established since 1991 - Established since 1994 - Established since 2011 - 3rd largest coal producer - Integrated water c
Slide 62: A well-integrated energy platform across the entire value chain
Indika Energy Group Companies Cover End-To-End Coal Business Value Chain Identification / acquisition of Energy resources assets • Operational synergies from intra-group cross-selling opportunities A well-integrated energy platform across the entire value chain Exploration - part of Kideco's overbur
Slide 63: Growth through inorganic and organic expansions
Indika Energy has grown through inorganic and organic expansions Acquisition & Launches 2004 2006 2007 2009 2011 2012 2014 2015 2017 2018 660MW 19.9% CEP Nusantara Investment 1,000MW KIDECO Investment Inception of 41% 5% Tripatra 98.55% 51% 85% CEPR Majority Indika Inception of KIDECO Additional Mer
Slide 64: Diversification Investments – Gold Asset Project
Diversification Investments – Gold Asset Project A Strategic investment in Nusantara Resources Limited (ASX: NUS). Nusantara owned 100% PT Masmindo Dwi Area which has sole rights to exploit in Awak Mas Gold Project Location : South Sulawesi, 220 km from Makasar Potential Resources : 2 million onz Po
Slide 65: Diversification Investments – Fuel Storage Project
Diversification Investments – Fuel Storage Project Build and operate fuel storages exclusively for ExxonMobil in conjunction with entering Indonesia retail market in various locations Phase 1 Location : Balikpapan, Kariangau, East Kalimantan Project Company : PT Karingau Gapura Terminal Energy Total
Slide 66: Notes Outstanding
Notes Outstanding Ba 3 Outlook Stable (as of Dec. 2018) The Senior BB - / Stable Outlook Notes are rated: International Ratings (as of Dec. 2018) A + / Stable Outlook National Ratings (as of Dec. 2018) Indo Energy Finance II B.V. Indo Energy Capital II Pte. Ltd. Indo Energy Capital III Pte. Ltd. USD
Slide 67: Corporate Structure
Corporate Structure 23 August 2019 PT Indika Energy Tbk. (Indonesia) 90% 100% 100% 69.80% 100% 100% 100% PT Indika Indonesia PT Indika Inti PT Tripatra Multi PT Indika Energy PT Indika Mineral PT Indy Properti PT Petrosea Tbk. Investindo Indonesia Resources 10% Corpindo Energi (Indonesia) Infrastruc
Slide 68: Indika Energy Group: INDY, PTRO, MBSS
Indika Energy Group INDY PTRO MBSS PT Indika Energy Tbk PT Petrosea Tbk PT Mitrabahtera Segara Sejati Tbk • PT Indika Energy infrastructure : 51.00% • PT Indika Inti Investindo : 37.79% • PT Indika Energy Tbk : 69.80% Shareholding • China Navigation • PT Teladan Resouces : 30.6 5% • Public : 30.20%
Slide 69: Thank You
INDIKA ENERAY THANK YOU 69