PT ABM Investama Tbk · IDX:ABMM
PT ABM Investama Tbk — Q1 2012 Earnings Presentation
40 slides from PT ABM Investama Tbk's earnings presentation, April 2012
Slide 1: Company Presentation Q1 2012 Result
COMPANY PRESENTATION Q1 2012 Result Jakarta, April 2012
Slide 2: Table of Contents
Table of Contents Structure and Business Strategy p.3 Financial Overview p.8 Operational Highlights Sub: PT Reswara Minergi Hartama (Reswara) – Coal Production p.18 Sub: PT. Cipta Kridatama (CK) – Contract Mining Services p.25 Sub: PT. Sumberdaya Sewatama (SS) – Power Solutions p.30 Sub: PT.Sanggara
Slide 3: ABM Investama A Member of Tiara Marga Trakindo Group
ABM Investama A Member of Tiara Marga Trakindo Group Tiara Marga Trakindo Group Structure Overview of Tiara Marga Trakindo Group — Established in 1970, Trakindo was PT Tiara Marga Trakindo Group (TMT) founded by AHK Hamami — Trakindo became the sole authorized PT Chandra PT ABM Sakti Utama PT Mahada
Slide 4: ABM Group and Shareholding Structure
ABM Group and Shareholding Structure PT Tiara Marga Trakindo (“TMT”) Valle Verde Pte. Ltd. Public 23.12% 55% 21.88% 99.99% 99.98% 99.99% 99.96% 99.99% PT Cipta PT Sumberdaya PT Reswara Minergi Hartama PT Sanggar Sarana PT Cipta Krida Bahari (“CKB”) Kridatama (“CK”) Sewatama (“SS”) (“Reswara”) Baja (
Slide 5: ABM's Five Strategic Business Units
ABM’s Five Strategic Business Units Contract Power Coal Engineering Integrated Mining Solutions Production Services Logistics Services • Established 1997 • Established 1992 • Established 2010 • Established 1977 • Established 2006 • Fleet of 575 heavy • Approximately 824 • 7,703 hectares • 10 enginee
Slide 6: Business Strategies
Business Strategies ABM is an integrated energy company with three key business units in contract mining services, coal production, and power solutions, supported by two crucial components of engineering services and integrated logistics • Among the top mining contractors in Indonesia. • Provides fu
Slide 7: Our 7 Strengths as an Integrated Energy Company
Our 7 Strengths as an Integrated Energy Company 1 Strategically positioned to capitalize on Asian and Indonesian energy markets 2 Leading energy market player in Indonesia 3 Exposure across the energy value chain with diverse product offering 4 Well-established and broad customer base 5 Comprehensiv
Slide 8: Q1-2012 Revenue Increased 43.1% YoY
Q1-2012 Revenue Increased 43.1% YoY Income Statement Q1 -2012 Q1-2011 FY 2011 ABM Consol (in million USD ) Revenue 200.174 139.904 753.835 Gross Profit 41.617 29.074 158.944 GPM 20.79% 20.78% 21,1% Income From Operations 12.322 12.997 82.416 OPM 6.2% 9.3% 10,9% EBITDA 40.516 27.771 124.926 Ebitda Ma
Slide 9: Business Update Q1 2012 to Current
Business Update Q1 2012 to Current In February 2012, PT Cipta Kridatama, signed a new contract with PT Riau Bara Harum (RBH) with value of around US$ 300 million secured for 5 years. In March , 2012 PT Cipta Krida Bahari built a Warehouse in Banjarmasin with investment of USD 4 Million. In March, 20
Slide 10: Business Update Q1 2012 to Current
Business Update Q1 2012 to Current May 6, 2011, CK signed contract USD 209 million with Rinjani for five years, the location is in Kutai Kertanegara, East Kalimantan Reswara Minergi Hartama (Reswara ) secured a coal sales contract for 360,000 MT through a partnership with coal trading company Coecle
Slide 11: Revenue: Historical and Q1 2012
Revenue: Historical and Q1 2012 250.000 Revenue in (in million USD) 200.000 43.1% 150.000 100.000 200.174 139.904 50.000 0 Q1 2011 Q1 2012 7.000 6.626 Historical Revenue (in billion Rupiah) 5.000 4.486 3.926 3.235 3.000 1.000 FY 2008 FY 2009 FY 2010 FY 2011 11
Slide 12: Net Income: Historical and Q1 2012
Net Income: Historical and Q1 2012 Net Income- Q1 2012 ( in million USD) 8.000 5% 5% 6.000 4% 3% 3% 4.000 6.590 2% 5.053 2.000 1% 0 0% Q1 2011 (4) Q1 2012 Net Income Margin Historical Net Income- Year Ended Dec 31- IDR Bn 6% 8% 450 3% 415 300 4% 150 (0%) (11) 127 0% 0 (150) (4%) FY 2009 FY 2010 FY 2
Slide 13: Income from Operations: Historical and Q1 2012
Income from Operations : Historical and Q1 2012 Income from Operations Q1 2012 (in million USD ) 13.200 9% 10% 13.000 6% 8% 12.800 12.600 6% 12.400 12.997 4% 12.200 12.322 2% 12.000 11.800 0% Q1 2011 (4) Q1 2012 Income from operations margin Historical Income from Operations (in Rp bn ) 13% 10% 15%
Slide 14: Balance Sheet & Key Ratios
Balance Sheet & Key Ratios Balance Sheet ABM Mar 2012 Dec 2011 Consol- (In million USD) Total Asset 1.103.449 1.094.389 Cash & Cash Equivalent 152.725 184.017 Total Equity 341.751 337.731 Gross Debt 551.106 543.488 Net Debt 398.381 359.471 14
Slide 15: Capital Expenditure in 2012-2013
Capital Expenditure in 2012-2013 Capital Expenditure (in million USD) 2012 F Machinery and Equipment 317 Building and Maintenance 16 Land Infrastructure 0.5 Others 1.1 Total 335 Capital Expenditure per SBU 2012 F (in million USD) Reswara 62 CK 119 SS 62 CKB 73 SSB 19 15
Slide 16: Revenue Contribution in Q1 2012 vs Q1 2011
Revenue Contribution in Q1 2012 vs Q1 2011 Revenue Contribution Q1 2012 Revenue Contribution Q1 2011 9.61% 18.29% Reswara Reswara 12.86% CKB 42.30% 43.76% 12.46% CK CK CKB 17.02% SSB 13.46% SSB 16.75% 13.50% SS SS 16
Slide 17: Sales & Revenue our Sub (before elimination)
Sales & Revenue our Sub (before elimination) Sales & Revenue in million USD 250,0 200.2 200,0 150,0 139.9 96.2 100,0 65.7 50,0 41.6 30.7 30.6 28.3 25.1 25.5 19.3 14.4 - Consolidated CK SS SSB CKB Reswara Ytd March'12 Ytd March'11 17
Slide 18: Reswara's Operational Highlights
Reswara’s Operational Highlights 6 Striping Ratio 4.5 4.4 4 2 0 Q1 2011 Q1 2012 18
Slide 19: Sales and Production Q1 2012
Sales and Production Q1 2012 Reswara Sales & Production in QoQ (in thousand tons) 900 827 800 136.3% 700 600 500 400 350 300 200 100 0 Q1 2011 Q1 2012 Reswara Historical Production (in million tons) 2500 2.163 2000 1500 1.179 1000 500 0.695 0 2009 2010 2011 19
Slide 20: Reswara's Average Selling Price (ASP) and Cash Cost
Reswara’s Average Selling Price (ASP) and Cash Cost 60 ASP (USD/ Ton) 50.3 50 20.9 % 41.6 40 30 20 10 0 Q1 2011 Q1 2012 20
Slide 21: Coal Resources, Reserves and Concession
Coal Resources, Reserves and Concession TIA MDB Total Total Resources: 561 Million Tons TIA Coal Reserves 18.9% (MT) Proved Reserves 13 7 20 Probable 39 162 201 Reserves MDB Total Reserves 52 169 221 81.1% Coal Resources Total Reserves: 221 Million Tons Measured 32 18 50 TIA 23.5% Indicated 39 289 3
Slide 22: Location: Aceh and South Kalimantan
Location: Aceh and South Kalimantan MDB Site (Aceh Province) TIA Site (South Kalimantan Province ) Central Kalimantan Balikpapan Palangkaraya Indonesia South Kalimantan Kalimantan Banjarmasin Tunas Inti Abadi Project Area 22
Slide 23: Site Layout – Concession Area
Site Layout – Concession Area PT Tunas Inti Abadi PT Media Djaya Bersama • TIA was acquired in Dec 2007, commenced • 70% ownership in MDB commercial production in Aug 2009 and • To begin coal production in 2012 by coal sales in Oct 2009 using existing infrastructure and • Coal mining is contracted t
Slide 24: Concession Breakdown and Coal Characteristic
Concession Breakdown and Coal Characteristic Coal Characteristics TIA MDB Calorific Value (Adb) 5,370 kcal/kg 5,310 kcal/kg Caloric Value (GAR) 3,960 kcal/kg 3,440 kcal/kg Total Moisture (AR) 37.4% 43.8% Ash Content (Adb) 5.7% 4.6% Sulfur (Adb) 0.15% 0.16% Concession Breakdown Current Expiry Date Co
Slide 25: CK Operational Highlights
CK Operational Highlights 25
Slide 26: Overburden and Coal Extraction Q1 2012
Overburden and Coal Extraction Q1 2012 CK-Overburden Removal (in bcm mn ton) 30 28.1 28.31% 25 21.9 20 15 10 5 0 Q1 2011 Q1 2012 CK- Coal Extraction (in mn ton) 3 8.8% 2.46 2,5 2.26 2 1,5 1 0,5 0 Q1 2011 Q1 2012 26
Slide 27: Overburden: Historical and Projections 2012-2015
Overburden : Historical and Projections 2012-2015 150 CK –Overburden Historical (in mn bcm) 125 118.0 104.2 100.0 100 73.8 75 50 25 FY 2008 FY 2009 FY 2010 FY 2011
Slide 28: Coal Extraction: Historical and Projections 2012-2015
Coal Extraction : Historical and Projections 2012-2015 12 CK Historical Coal Extraction –(in mn tons ) 10.6 10 8.3 8 7.1 6 5.4 4 2 0 FY 2008 FY 2009 FY 2010 FY 2011 28
Slide 29: Current Customers & Backlog
Current Customers & Backlog Operating Agreements as of March 31, 2012 Concession Expected Backlog Kalimantan Mining Project Sites Holder Contract Duration (bcm/ton) Jun 2004 – Sep 1 Separi, East Kalimantan 102 / 10 2015 2 1 Kotabangun, Kutai 4 2 Dec 2007 – life of 3 Kertanegara, East -/- mine Kalima
Slide 30: PT Sumber Daya Sewatama (SS) – Power Solutions
PT Sumber Daya Sewatama (SS) – Power Solutions 30
Slide 31: Revenue By Division and Key Customers
Revenue By Division and Key Customers Q1 2011 Q1 - 2012 Other Services Other Services 7% 6% Temporary Power 94% Temporary Power 93% 31
Slide 32: Diesel Genset is the Majority of Generators
Diesel Genset is the majority of Generators Average Average Age as of Number of Units as Capacity Useful Life Mar 31, 2012 Model of Mar 31, 2012 (kW) (Yrs) (2) (Yrs) Diesel 819 936,097 10 6 Generator Sets Gas Generator 5 8,662 15 2 Sets Total 824 945,759 32
Slide 33: Electricity Generation Capacity & Lease Rate
Electricity Generations Capacity & Lease Rate Electricity Generation Capacity and Average – Utilization Rate Utilization Rate in MW 1.000 934 945 80% 900 792 800 758 75% 700 638 600 74% 74% 73% 500 70% 72% 400 70% 300 65% 200 100 0 60% FY 2008 FY 2009 FY 2010 FY 2011 Q1 2012 Electricity Generation C
Slide 34: PT. Sanggar Sarana Baja (SSB) – Engineering Services
PT. Sanggar Sarana Baja (SSB) – Engineering Services 34
Slide 35: PT. Sanggar Sarana Baja (SSB) – Engineering Services
PT. Sanggar Sarana Baja (SSB) – Engineering Services Business Overview Transport Designing, manufacturing and distributing products for Equipment Division transportation and material handling business Site Services On-site repair, process plant maintenance and construction Division services Design a
Slide 36: PT. Sanggar Sarana Baja (SSB) – Engineering Services
PT. Sanggar Sarana Baja (SSB) – Engineering Services Transport Division Equipment Remanufacturing 36
Slide 37: PT. Cipta Krida Bahari (CKB) – Integrated Logistic
PT. Cipta Krida Bahari (CKB) – Integrated Logistic 37
Slide 38: PT. Cipta Krida Bahari (CKB) – Integrated Logistic
PT. Cipta Krida Bahari (CKB) – Integrated Logistic Business Overview • Integrated logistics provider offering freight forwarding, project logistics, industrial / offshore and coal logistics shipping, warehouse and shorebase management services • Freight forwarding services: Integrated logistics serv
Slide 39: PT. Cipta Krida Bahari (CKB) – Integrated Logistic
PT. Cipta Krida Bahari (CKB) – Integrated Logistic 39
Slide 40: Contact Investor Relations
Gedung TMT 1, 18th Fl, Suite 1802 Jl Cilandak KKO No.1 Contact Jakarta 12560 - Indonesia Investor Relations Errinto Pardede Tel:6221-2997-6767 Ext.1874 Fax : 6221-2997-6768 Email : errinto.pardede@abm-Investama.co.id Email : ir@abm-investama.co.id Website : www.abm-investama.com 40