PT Bukit Asam (Persero) Tbk · IDX:PTBA
PT Bukit Asam (Persero) Tbk — H1 2015 Earnings Presentation
24 slides from PT Bukit Asam (Persero) Tbk's earnings presentation, 2015
Slide 1: Corporate Presentation 6M2015 Results
Tarahan Coal Terminal, Berth#2 Tarahan Coal Terminal, Berth#2 2x110MW Banjarsari Power Plant Tarahan Coal Terminal, Berth#2 Tarahan Coal Terminal, Berth#2 Corporate Presentation www.ptba.co.id 6M2015 Results Reuters: PTBA.JK Bloomberg: PTBA IJ Exchange: JKT Ticker: PTBA
Slide 2: Table of Contents
Table of Contents 1. Introduction 2. Operating Review 3. Commercial Review 4. Financial Review 5. Development Projects Appendices 01
Slide 3: Company's Key Milestones
Introduction Company’s Key Milestones Indonesia’s Oldest and Most Experienced Coal Producer PN TABA was converted PTBA was publicly listed into a limited corporation on the Jakarta Stock and its name changed to Exchange with 35% of PT Tambang Batubara shares held by the public. During the Dutch colo
Slide 4: Operating Review: Performance Highlights
Operating Review Performance Highlights FY14(A) FY15(F) YoY 1Q15 2Q15 QoQ 6M14 6M15 YoY a b b/a c d d/c e f f/e SALES VOLUME (MT) 18.0 24.0 133% 4.58 4.45 97% 8.83 9.03 102% PRODUCTION (MT) 16.4 20.9 127% 3.26 5.06 155% 7.70 8.32 108% TRADING/PURCHASE (MT) 1.8 2.7 150% 0.44 0.38 86% 1.06 0.82
Slide 5: Operating Review: Current Operations
Operating Review Mining Business License (IUP) Total Resources 7.29 billion tons Current Operations Tanjung Enim Mine 66,414 Ha Total Mineable Reserves 1.99 billion tons Ombilin Mine 2,950 Ha Peranap Mine 18,230 Ha IPC Mine 3,238 Ha PERANAP MINE Total 90,832 Ha Recources : 0.79 billion tons Mineable
Slide 6: Coal Resources
Operating Review Coal Resources Total : 7.29 bn tons Bituminou s; 2,7% Coal Mineable Reserves Total: 1.99 bn tons Bitumi nous; 3,0% Lignite ; Sub‐ Lignite, 34,2% bituminou 48.2% Sub‐ bitumi s, 49.1% nous; 62,8% Parameter BITUMINOUS SUB BITUMINOUS LIGNITE TM (% ar) < 18 18 ‐30 > 35 CV (KCal/Kg adb) >
Slide 7: Commercial Review: Global Coal Review
Commercial Review Global Coal Review 1,800 Pacific Basin Seaborne Thermal Coal Import Demand 1,600 by Country and Rank (Mt) Seaborne Thermal Coal Exports by Country (Mt) 1,400 1,200 1,000 800 Mt 600 400 200 0 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 2034 Japan, S Kor, Taiwan high Japan, S K
Slide 8: Commercial Review: National Coal Review
Commercial Review Indonesian Domestic Demand Vs Exports (Mt) National Coal Review Primary Energy Mix (%) Source: Wood Mackenzie Coal Market Service, November 2013 Source: Agency For The Assessment And Application Of Technology, Dec 2013 Coal Consumption Guidance for Electricity Fuel Mix 2005‐2021 :
Slide 9: Financial Review: Costs & Prices
Financial Review Costs & Prices Total Cash Cost (FOB) 6M15 Total Cost Breakdown Others; 4% Salaries & Wages; Heavy 6M14 6M15 YoY 11% Equipment; 4% Tanjung Enim System *) Ex Royalty (IDR) 535,017 547,572 +2% Spareparts; 1% Railway Service; Royalty; 7% Total (IDR) 579,577 593,253 +2% 25% Depreciation
Slide 10: Coal Brand & Sales Breakdown
Financial Review Coal Brand & Sales Breakdown Type Of Coal by Quality Coal Brand CV TM IM Ash VM FC TS max HGI 6M15 Sales Breakdown by Country Kcal/Kg,adb Kcal/Kg,ar %,ar %,adb %,adb %,adb %,adb %,adb IPC 53 5,300 ‐ 34 15 8 39 40 0.5 ‐ BA 55 5,500 4,550 30 15 8 39 38 0.8 50 BA 59 5,900 5,000 28 14 6
Slide 11: Financial Ratios
Financial Review Financial Ratios GROSS PROFIT MARGIN (%) OPERATING PROFIT MARGIN (%) NET PROFIT MARGIN (%) 33 22 18 26 14 12 6M14 6M15 6M14 6M15 6M14 6M15 54 50 46 44 40 35 31 31 31 30 29 29 25 25 19 18 16 15 7% -8% 4% -6% -13% 8% -11% 6% -4% -12% -1% 6% -5% 4% -4% -9% -1% 2009 2010 2011 2012 2013
Slide 12: PTBA Versus Global & Local Peers
Financial Review PTBA Versus Global & Local Peers 24 15 11 10 6 YZC ACI BYAN BTU BUMI ITMG HRUM BRAU ADRO PTBA AVERAGE ‐2 Gross Margin Operating Margin Net Margin Source: Bloomberg, 4 May 2015 YZC :Yanzhou Coal Mining ACI : Arch Coal Inc. – USA (NYSE) ADRO : PT Adaro Energi – IDX HRUM : PT Harum Ene
Slide 13: Summary Financial Performance
Financial Review Summary Financial Performance (IDR Tn) FY 14 6M14 6M15 YoY Sales 13.077 6.427 6.511 +1% COGS 9.056 4.307 4.798 +11% EBITDA 2.870 1.639 1.263 -23% Net Income 2.016 1.156 0.795 -31% Assets 14.812 12.098 15.229 +26% Cash 4.039 3.223 3.832 +19% Net Profit Margin (NPM) 15% 18% 12% -6% Re
Slide 14: Distribution Infrastructures Development
Distribution Infrastructures Development Double Tracks Single Track with Crossing Sections Tanjung Enim Mine with the installed production capacity of 25 Mtpa Kertapati Palembang Barging Port TANJUNG ENIM MINE Muara Enim Lahat Prabumulih Railway (Upgraded) - Capacity : up to 22.7 M tpa - TE – Kertap
Slide 15: Power Plants Development
Power Plants Development 800-1200MW Power Plant - Location : Peranap Riau - Coal Cons. : 8.4 M tpa - COD : 2020 3x600MW Sumsel 9&10 PP - Location : Muara Enim - Coal Cons. : 8.4 M tpa - COD : 2019 2x620MW Power Plant - Location : Central Banko - Coal Cons. : 5.4 M tpa - COD : 2019 2x110MW Power Plan
Slide 16: Development Projects: Production Infrastructure & CBM
Development Projects Production Infrastructure & CBM Project Status Upgraded Existing • Tanjung Enim – Tarahan Port (410km), TE – Kertapati Port (161km) Railway Line • 100% owned & operated by State Railway Company, PT KAI • Capacity of 22.7Mtpa (2015 – 2029) • Currently, PT KAI is operating about 2
Slide 17: Development Projects: Power Plants
Development Projects Power Plants The Plant Status 2x110MW Banjarsari Power • PTBA (59.75%), PJB (29.15%), NII (11.10%) Plant • Investment of USD350 Mn • Coal Consumption: 1.4 M tpa • In operation since June 2015 2x620MW Banko Tengah • PTBA (45%), China Huadian Hong Kong Company Ltd (55%) Power Plan
Slide 18: Long Term Domestic Commitment
Long Term Domestic Committment Supporting National Energy Policy Having A Total Long Term Coal Supply with: Committed Volume o National Power Company\PLN (2010 – 2030) : 262 Mt o Indonesia Power (2013 – 2022) : 52 Mt o Huadian Bukit Asam Power\Power Plant (25 Years) : 150 Mt o Bukit Pembangkit Inn
Slide 19: Tarahan Coal Terminal
Appendix Tarahan Coal Terminal • Coverage: 43 Ha • Throughput: 25 Mtpa • Capacity of Berths: • Shiploader#2 210,000DWT • Shiploader#1 80,000DWT • Bargeloader 10,000DWT • Supporting Facilities: • Total Stockpiles: 0.9 Million ton • 2x8MW Coal Fired Power Plant • Train Unloading System with 4 (Four) R
Slide 20: PTBA Structure
Appendix PTBA Structure PTBA operates a fully integrated large coal mining in Tanjung Enim The Indonesian ( South Sumatera), Ombilin (West Sumatera), Peranap (Riau), and PTBA Government owns 65% of Total East Kalimantan with Total Shares Resources & Reserves are 7.29 billion tons and 1.99 billion to
Slide 21: Top Shareholders of PTBA as of June 2015
Appendix The Top Forty Four Shareholders of PTBA as of 30 June 2015 Shareholders Information NO Shareholder Number % 1 NEGARA REPUBLIK INDONESIA 1.498.087.500 65,02 2 TAMBANG BATU BARA BUKIT ASAM (PERSERO), 129.997.500 5,64 Treasury Stock, 3 BPJS KETENAGAKERJAAN‐JHT 53.376.000 2,32 5.64% 4 PT TASPEN
Slide 22: Production vs Sales, Revenues, Index Movement, Coal Prices
Appendix Production Vs Sales 2002 - 2014 Index Movement Dec’02 – Jul’15 17.8 18.0 6000 27500 16.4 5500 25000 15.3 15.1 Sales Production 5000 Jakmine JCI/IHSG PTBA 22500 13.4 13.9 4500 12.9 20000 12.7 12.4 12.9 4000 12.5 17500 11.6 3500 10.0 10.8 10.8 15000 9.5 3000 9.8 9.9 9.6 9.9 12500 9.5 9.5 9.2
Slide 23: Projected Coal Production up to 2024
Appendix Projected Coal Production up to 2024 (Mt) 100 95 In Million Ton 90 85 80 75 70 65 60 55 50 45 40 35 30 25 20 15 10 5 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Current TE System Central Banko A Central Banko B Acquisition Mines Acquisition/TE System Peranap Subsidiary 22
Slide 24: Disclaimer
Disclaimer: This presentation contains forward-looking statements based on assumptions and forecasts made by PT Bukit Asam (Persero) Tbk management. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are
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