PT Mitra Pinasthika Mustika Tbk · IDX:MPMX
PT Mitra Pinasthika Mustika Tbk — H1 2017 Earnings Presentation
25 slides from PT Mitra Pinasthika Mustika Tbk's earnings presentation, August 2017
Slide 1: 1H17 MPM Company Highlights and Financial Results
1H17 MPM Company Highlights and Financial Results (Ticker: MPMX) August 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: 1H 17 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 290 dealer relationships, serving parts distribution company ~4.2MM 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 Edwin Soeryadjaya Rudy Halim Chairman Group CEO Tossin Himawan Troy Parwata Agung Kusumo Titien Supeno Andi Esfand
Slide 7: MPM Group Network: Presence Across Indonesia
MPM GROUP NETWORK: PRESENCE ACROSS INDONESIA 22 MPMInsurance Offices & Outlets 47 FKT Distributors for Federal Oil & Federal Mobil 30 MPMRent Offices & Service Points 5 MPMAuto Dealers 87 MPMFinance Offices & Outlets 40 MPMotor Retail Outlets 290 MPMulia Dealers 7 Resource: MPMX, as of 30 Jun 2017
Slide 8: Table of Content
TABLE OF CONTENT 01 MPM: Company Highlights 02 Consolidated Financial Results: 1H17 Updates 03 Business Segment Performance 8
Slide 9: 1H17 Revenues: Segment Contribution & Movement
1H17 REVENUES: SEGMENT CONTRIBUTION & MOVEMENT Revenues 1H17 Revenues Growth % YOY, in Rp billion Rp 7.7T 80% 11% (777) (40) 106 24 46 9.9% QoQ, -7.7% YoY 8% 8,349 -7.7% 7,708 1% 1H17 1H16 YoY revenue growth %YoY -10% -4% +19% +38% Distribution & Retail Consumer Parts Auto Services *Financial Servic
Slide 10: 1H17 NPATMI: Segment Contribution & Movement
1H17 NPATMI: SEGMENT CONTRIBUTION & MOVEMENT NPATMI 1H17 NPATMI Growth % YOY, in Rp billion Rp 323B 50.6% QoQ, 79.5% YoY 141 (20) 323 Distribution & Retail (18) 38 1H17 41% (21) 13 10 180 Consumer Parts 41% +79% 1H16 Auto Services YoY NPATMI growth 10% Financial Services *8% %YOY -17% -14% +114% +51
Slide 11: 1H17 Financial Highlights
1H17 Financial Highlights P&L Highlights 1H17 QoQ% YoY% %Rev B/S Highlights 1H17 QoQ% YoY% Key Ratios 1H17 1H16 Net Revenues 7,708 9.9% -7.7% N/A Cash and Cash Equiv. 1,314 61.8% -24.4% Net Debt/EBITDA* 1.2x 4.5x Gross Profit 893 9.6% -4.4% 11.6% Total Asset 9,751 -34.1% -35.7% Net Debt/Equity 0.3x
Slide 12: MPMFinance Divestment and Deconsolidation Impact
MPMFinance Divestment and Deconsolidation Impact Without MPMF Divestment (Estimated) After MPMF Divestment (Actual) 1H17 Income statement (in Rp T) 1H17 Income statement (in Rp T) Revenue 8.3 Revenue 7.7 EBITDA 0.68 EBITDA 0.78 NPAT 0.25 NPAT 0.35 NPATMI 0.21 MPMF NPATMI 0.32 1H17 Balance sheet (in
Slide 13: Key Focus 2017: (1) Cost Leadership
KEY FOCUS 2017: (1) COST LEADERSHIP Financial Highlights (in Rp billion) 1H17 QoQ% YoY% %Rev Revenue / HC 2.5 13.0% -4.6% - Total Opex 536 9.4% -4.4% 7.0% • Compensation & Benefit 217 -3.7% -2.0% 2.8% • Advertising & Promotion 99 7.4% -21.7% 1.3% • Transportation & Storage 39 20.4% -12.1% 0.5% • Pro
Slide 14: Key Focus 2017: (2) Operating Cash Flow
KEY FOCUS 2017: (2) OPERATING CASH FLOW 1H17 Cash Flow (in Rp billion) Operational Highlights 1,869 1,739 1H16 1H17 YoY% 1,202 1,314 1H16 1H17 AR Days 17.8 18.3 2.6% 314 243 407 AP Days 28.4 22.5 -20.7% (268) (176) Inventory Days 20.6 17.6 -14.7% (538) Balance as of Operating Investing Financing Bal
Slide 15: 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 16: 2Q17 Key Events
2Q17 KEY EVENTS Apr’17 May ’17 Jun’17 Jun’17 Jun’17 Jul’17 Jul’17 MPMulia launched MPMInsurance FKT received MPM Group MPMFinance rank 2nd MPM is ranked FKT was All New Honda awarded 1st for Superbrands 2017 named Top 5 for Best Multifinance 32nd in Most recognized by the Scoopy in Best General awar
Slide 17: Table of Content
TABLE OF CONTENT 01 MPM: Company Highlights 02 Consolidated Financial Results: 1H 17 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 1H17 Highlights Sales Volume (Unit in thousands, YoY%) +1% -5% o Lower sales volume was driven by slow harvest, increase in -11% Mulia 902 912 863 vehicle registrations and earlier Lebaran break. 455 406 FY15 FY16 TTM 1H16 1H17 o NPAT
Slide 19: 4W Dealership: Improve Sales Productivity & Service Level
4W DEALERSHIP : IMPROVE SALES PRODUCTIVITY & SERVICE LEVEL 1H17 Highlights Sales Volume (Units, YoY%) +29% o Intense competition in the 4W market and the decline in -43% market attractiveness of Nissan and Datsun brand from -67% 3,680 4,755 2,700 3,078 1,023 lack of new products contributed to the f
Slide 20: Consumer Parts: Strengthen Channel & New Product Development
CONSUMER PARTS: STRENGTHEN CHANNEL & NEW PRODUCT DEVELOPMENT 1H17 Highlights Sales Volume (Units in thousand litres, YoY%) +7% -3% -6% o Shorter working days in June impacted the sales volume. 59,200 63,341 61,297 o Gross margin remain stable though revenue was slightly lower. 32,046 30,002 o NPAT w
Slide 21: Auto Services: Maintain Operational Excellence & Cash Flow
AUTO SERVICES: MAINTAIN OPERATIONAL EXCELLENCE & CASH FLOW 1H17 Highlights Fleet Size (Units, YoY%) +1% -6% -6% o Higher revenue was driven by stable rental business and higher disposal value of used cars. 13,935 14,137 13,327 14,334 13,524 o Higher NPAT driven by OPEX efficiencies and finance cost
Slide 22: MPMInsurance: Increase Penetration Group & Non-Group Businesses
MPMINSURANCE: INCREASE PENETRATION GROUP & NON-GROUP BUSINESSES 1H17 Highlights Gross Premium (in Billions of Rupiah, YoY%) o Gross premium grew steadily driven by increase in new +49% +2% policies especially for the MV segment. 393 +4% o NPAT increased in 1H17 primarily due to higher 385 underwriti
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%) 1H17 Highlights +18% +37% o Asset quality improved YoY basis as reflected by NPL level. 4,728 +40% 4,015 2,934 2,522 1,808 3.3% 3.2% 3.2% 2.7% 2.3% 2.60% FY15 FY16 TTM 1H16 1H17 Revenue (i
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
Slide 25: Thank You
Thank You
PT Mitra Pinasthika Mustika Tbk (MPM) — H1 2017 Earnings Presentation on 6ix