Pt Barito Pacific Tbk · IDX:BRPT
Pt Barito Pacific Tbk — Non-Deal Roadshow (March 2018)
41 slides from Pt Barito Pacific Tbk's roadshow presentation, March 2018
Slide 1: Creation of a Leading Indonesian Energy Group
CREATION OF A LEADING INDONESIAN ENERGY GROUP Barito Pacific | Company Presentation March 2018 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN
Slide 2: Disclaimer
Disclaimer NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN These materials are not for publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United
Slide 3: Table of Contents
Table of Contents NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN 1 OVERVIEW AND EVOLUTION OF BARITO PACIFIC 2 CREATION OF A LEADING INDONESIAN ENERGY GROUP 3 KEY INVESTMENT HIGHLIGHTS 4 UPDATE ON CHANDRA ASRI APPENDIX 3
Slide 4: Overview and Evolution of Barito Pacific
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Section 1 BARITO PACIFIC OVERVIEW AND EVOLUTION OF
Slide 5: Barito Pacific at a Glance
Barito Pacific at a Glance As of today NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Group Organization Chart Financial Performance PT Barito Pacific Tbk Revenue: FY 2017(4) (“Barito Pacific”) Others 1.4% Petrochemicals Property Planta
Slide 6: Barito Pacific Milestones
Barito Pacific NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Milestone Established CA Acquisition RIM Acquisition Mambruk Acquisition Entered into MOU to acquire 66.67% stake in SEGHPL 1979 1993 2007 2008 2010 2011 2013 2015 2016 2017
Slide 7: Chandra Asri Petrochemical at a Glance
Chandra Asri Petrochemical at a Glance Largest integrated petrochemical producer in Indonesia Market leader in highly attractive Indonesia and SE Asia petrochemical NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN market Domestic mark
Slide 8: Creation of a Leading Indonesian Energy Group
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Section 2 CREATION OF A LEADING INDONESIAN ENERGY GROUP
Slide 9: Acquisition of a 66.67% Stake in Star Energy
Acquisition of a 66.67% Stake in Star Energy NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Star Energy is Indonesia’s leading geothermal independent power producer (“IPP”): Consolidated operating capacity: 875 MW (steam and electri
Slide 10: Key Terms of the Star Energy Acquisition
Key Terms of the Star Energy Acquisition NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Key terms of the Proposed Transaction: Consideration: US$755.0m for a 66.67% stake in SEGHPL Payment: Deposit of US$234.3m (paid pursuant to
Slide 11: Transaction Timeline & Structure
Transaction Timeline & Structure NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN As announced on 12 December 2017 and as further updated in its 5 March 2018 announcement, Barito Pacific plans to raise up to US$1bn through a Limited Pub
Slide 12: Star Energy at a Glance
Star Energy at a Glance NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Operating assets Wayang Windu Salak Darajat Garut Regency and Bandung Regency, Bandung Regency, West Java Sukabumi Regency and Bogor Regency, West Java 227 M
Slide 13: Acquisition Rationale
Acquisition Rationale NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Consolidate leadership positions in the Indonesian energy market Transform Barito Pacific into an integrated energy group with full operational capabilities Secu
Slide 14: Star Energy's Competitive Edge
Star Energy’s Competitive Edge Indonesia’s premier geothermal platform NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Well-established history of operational Highly experienced technical team performance and reliability which has co
Slide 15: Financial Impacts of the Transaction
Acquisition of a 66.67% stake in Star Energy Financial impacts of the transaction NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Total Purchase Consideration of US$755 (1) FYE 31 December EBITDA Net Net Debt(5) / Net Debt(5) million 2
Slide 16: Key Investment Highlights
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Section 3 KEY INVESTMENT HIGHLIGHTS
Slide 17: Key Investment Highlights
Key Investment Highlights Post acquisition of Star Energy NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Market leading positions in Indonesia’s petrochemical and power industries 1 with key assets strategically located in Java 2 Strong
Slide 18: Barito Pacific Group Structure
Barito Pacific Group Structure Post acquisition of Star Energy NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN FY2017 Revenue: FY2017 Revenue: POWER US$423m(1) (2) PETROCHEMICAL US$2,419m 66.7% 33.3% Star Energy Group Integrated comple
Slide 19: Market Leading Positions
1 Market Leading Positions in Indonesia’s geothermal power and petrochemical industries… NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Geothermal Energy Producers in Indonesia(1) Olefin producers in Indonesia(2) 2017 Installed Capacity
Slide 20: Leading Indonesian Integrated Energy Group
1 Leading Indonesian Integrated Energy Group …with the Group’s key assets strategically located in Java NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Wisma Barito RIM Group Java Pacific (Plantation) 9 & 10 Particle Board South Sekincau
Slide 21: Strong Track Record of Operational Performance
2 Strong Track Record of Operational Performance NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Star Energy Operational Geothermal Assets – Capacity Factor Wayang Windu Salak Darajat (2) 91.0% 90.0% 88.0% 88.2% 88.0% 86.5% 93.0% 98.3% 9
Slide 22: Predictable and Stable Cash Flows from Geothermal Business
Predictable and Stable Cash Flows from Geothermal 3 Business NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Long-term offtake agreements with state-owned enterprises (PLN Remaining Contract Life by Asset (years) and Pertamina) PLN b
Slide 23: World Class Partners
4 World Class Partners Business model which thrives upon long-term strategic and customer relationships NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Power Business Petrochemicals Business Partners Partners ■ Acquired 33.33% stake in S
Slide 24: Track Record of Delivering Strategic Projects
5 Track Record of Delivering Strategic Projects on Time and on Budget NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Chandra Asri Historical Expansions (in ktpa) Star Energy Historical Expansions (in MW) Cracker Merger with Acquisition
Slide 25: Sizeable and Tangible Pipeline Growth
6 Sizeable and Tangible Pipeline Growth High quality organic growth pipeline paving the way for successful expansion NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN 2nd Naphtha Cracker 1,000 ktpa Shareholding structure yet to be fina
Slide 26: Well Positioned to Benefit from Indonesia's Growth
7 Well Positioned to Benefit from Indonesia’s Growth Operates in key industries with strong underlying growth prospects… NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Key Growth Drivers in Indonesia GDP Growth CAGR (2017-2020E) 7.7% Ri
Slide 27: Attractive Industry Outlook
8 Attractive Industry Outlook Geothermal and Petrochemicals industries outlook in Indonesia NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Geothermal Power Industry Petrochemicals Industry Total Demand The 2026 Electricity Supply Busi
Slide 28: Highly Experienced Management Team
9 Highly Experienced Management Team …all backed by a team with years of operational expertise adept at forging strategic relationships NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Barito Pacific Prajogo Pangestu Harlina Tjandinegara
Slide 29: Highly Experienced Management Team
9 Highly Experienced Management Team …all backed by a team with years of operational expertise adept at forging strategic relationships NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Star Energy – Board of Directors Tan Ek Kia Agus Sali
Slide 30: Update on Chandra Asri
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Section 4 UPDATE ON CHANDRA ASRI
Slide 31: Resilient Revenue Driven by Diverse Product Portfolio
Resilient Revenue Driven by Diverse Product Portfolio and Increased Volumes NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Revenue by Product Segments Sales Volume (US$m) (KT) 2,137 12% 2,419 117 7 1,908 25% 252 85 349 1,930 277 7 433 1
Slide 32: Strong Financials Further Enhanced by Economies of Scale
Strong Financials Further Enhanced by Economies of Scale NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Gross Profit EBITDA (unaudited) (1) (US$m) EBITDA margin 11% 26% 23% 545 494 +239% (US$m) 550 +229% 510 yoy yoy 146 155 2015 2016 20
Slide 33: Strong Balance Sheet Supported by Financial Profile
Strong Balance Sheet Supported by Financial Profile Strengthening NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Cash Balance Total Debt and Net Debt (1) (US$m) (US$m) 843 632 548 451 425 299 *Net cash 97 126 position of $210.2m 2015 20
Slide 34: Appendix
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN APPENDIX
Slide 35: Chandra Asri Petrochemical
Chandra Asri Petrochemical NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN CAP 550m 2011 2015 Merger of CA and TPI Completed cracker 510m effective from 1 January expansion project and (US$) 2011 TAM 155m EBITDA Completed de- bottl
Slide 36: Integrated Production of Diverse Products
Integrated Production of Diverse Products NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Capacity (ktpa) Use of Goods (examples) Capacity (ktpa) Polyethylene (336) Naphtha Ethylene (860) Styrene Naphtha Monomer (340) consumption of 2,
Slide 37: Strategically Located to Supply Key Customers
Strategically Located to Supply Key Customers NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN CAP’s Integrated Petrochemical Complexes Rhone Poulenc SBL Sulfindo Adi. Sulfindo Adiusaha EDC, VCM NAOH, CL2 Santa Fe Sulfindo Adi. PVC Redeco
Slide 38: Property Business
Property Business NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Wisma Barito Pacific Wisma Barito Pacific 2 Located in West Jakarta, 2 towers of office space, Total 23 floors Expansion of Wisma Barito Pacific (tower A: 11 floors, t
Slide 39: Plantation Business
Plantation Business NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Barito Pacific’s Crude Palm Oil (“CPO”) and Palm Kernel (“PK”) plantation business is operated through fully-owned subsidiary PT Royal Indo Mandiri (“RIM”) RIM was a
Slide 40: Forestry Business
Forestry Business NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Barito Pacific started out as an integrated forestry and timber company, and as a pioneer of sustainable industrial forest estates in Asia In 2013, Barito Pacific emba
Slide 41: Star Energy Group Milestone
Star Energy NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN Star Energy Group Milestone Mitsubishi becomes shareholder of EGCO becomes shareholder of Acquisition of Chevron Darajat and Salak SEGHPL SEGHPL with 648 MW COD WW Unit 1 with C