01 02 03 04 05 - abm-investama.com · • 31% increase in ob removal compared to the previous...
TRANSCRIPT
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18fob Newcastle - 6300 ICI - 4200 ICI - 3400
Different market between high and low CV
Limited resources of high CV
Import restrictions in China
PLATTS Forward Curve, Oct 1
Source : Company Data
Seaborne Supply Growth
Chinese Import Uncertainty
Risk to Price Differentials
Key Drivers
of Price Forecasts
Ch
ina
Co
al
Inve
nto
ry(i
n d
ays
of
use
)
• Coal inventory still appear adequate (see the chart)
• Slowdown in power demand and coal burn in China
• So, China began import restrictions due to sufficient inventory
Seab
orn
e Su
pp
ly
Fore
cast
(in
mn
t)
• Exports will still likely increase, particularly in 1Q19 (see the chart)
• Increasing supply in Indonesia, Australia and Russia
DMO Regulation
Import Restrictions in
China
The DMO policy requires coal mining firms to sell at
least 25 percent of their production in the domestic market
China's customs still maintain strict volume quotas for coal in an
effort to reverse growth in imports that run counter to the
policy goals of the country's main planning agency
Increase in Coal Production
Volume
ABM is an integrated energy company with current focus on Coal and its group Structure is established around integrated coal value chain
COALCORE Coal Mining
Mining Mining Contractor
Support mining from development stage, Coal production (pit to port until reclamation of mine)
ENABLER
Integrated Logistics Solution Manufacturing Fuel Supply
Port Management, Stevedoring, Floating Crane, Harbor Tug,
Tug Boat, TransshipmentLogistics, warehousing solutions
Services Engineered Product Manufacturing
Internal Fuel Management Supply
02 03 04 0501
Global Bond Issuance
Operating Profit (US$)
Cash Balance (US$) Liability (US$)
Revenue (US$)
EBITDA (US$)
29.8%
Gross Profit (US$)
16.9%
18.4%
0.5%
Sewatama Debt Restructuring
52.6%3.6%
02 03 04 0501
PT Tiara Marga Trakindo (“TMT”)
Valle Verde Pte Ltd(“Valle Verde”)
Public
“Reswara” “CK” “CKB” “SSB” “Sewatama” “PWP” “AJN”
PT Tunas Inti Abadi
PT Media Djaya Bersama
PT Bara Energi Lestari
PT Mifa Bersaudara
PT Alfa Trans Raya
PT Baruna Dirga Dharma
PT Dianta Daya Embara
PT Pelabuhan Buana Reja
PT Andara Candria Energi
PT Nagata Dinamika
PT Pradipa Aryasatya
PT Nagata Bisma Shakti
PT Karimun Power Plant
PT Energi Alamraya Semesta
CK 34%
Reswara 36%
SS 9%
CKB 14%
SSB 7%
RevenueUS$690.7mn
CK 18%
Reswara 55%
SS 15%
CKB 11%
SSB 2%
EBITDAUS$166.8mn
Coal MiningEngineering and Manufacturing
Integrated Logistic Electric Power SolutionMining Contractor
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Contribution to Revenue and EBITDA in 2017
Coal MiningEngineering and Manufacturing
Integrated Logistic Electric Power SolutionMining Contractor
>7,600 Employees3 Concessions
2 Provinces
11 Projects
5 Provinces
52 Branches
22 Provinces9 Branches
7 Provinces
120 Projects
22 Provinces
27 Provinces
02 03 04 0501
Coal Production Average Strip Ratio
37.1
29.827.5
40.0 38.7
42.9
2014A 2015A 2016A 2017A 9M 2017 9M 2018
(US$ / mt)
ASP Average Cash Cost
31.5
23.719.8
24.1 23.9
30.1
2014A 2015A 2016A 2017A 9M 2017 9M 2018
(US$ / mt)
5.6 5.45.8
5.3
4.03.4
2014A 2015A 2016A 2017A 9M 2017 9M 2018
(mt)
4.14.8
4.1
5.4 5.2
6.7
2014A 2015A 2016A 2017A 9M 2017 9M 2018
(x)
Coal Production Average Strip Ratio
ASP Average Cash Cost
0.2
1.4
0.5
2.7
1.8
3.7
2014A 2015A 2016A 2017A 9M 2017 9M 2018
(mt)
9.6
2.5
0.7
2.4 2.6 2.2
2014A 2015A 2016A 2017A 9M 2017 9M 2018
(x)
37.4
21.7 22.426.3 26.9 26.5
2014A 2015A 2016A 2017A 9M 2017 9M 2018
(US$ / mt)
50.0
29.225.4
18.7 19.2 16.2
2014A 2015A 2016A 2017A 9M 2017 9M 2018
(US$ / mt)
Overburden Removal (mn bcm)
102.5
131.1 131.3 129.1
97.3104.7
2014A 2015A 2016A 2017A 9M 2017 9M 2018
Coal Production (mn ton)
15.2
17.516.6
17.6
12.5
15.4
2014A 2015A 2016A 2017A 9M 2017 9M 2018
• 6% increase of coal sales volume in MIFA & TIA (combined) compared to previous quarter
• 31% increase in OB Removal compared to the previous year’s quarter due to improvement in productivity and asset utilization. Since engaged with management consulting firms, CK’s operational shows better performance even reaching the highest production level
• Coal Production also increase 23% from last year mainly due to higher coal production in MIFA and AGM site
02 03 04 0501
Revenue
Operating Profit and Operating Profit Margin Net Profit and Net Profit Margin
654.6590.7
690.7
500.9581.5
2015A 2016A 2017A 9M 2017 9M 2018
(US$ millions)
EBITDA and EBITDA margin
135166 167
124157
21%
28%24% 25%
27%
2015A 2016A 2017A 9M 2017 9M 2018
(US$ millions)
5
4255
45
891%
7%8% 9%
15%
2015A 2016A 2017A 9M 2017 9M 2018
(US$ millions)
-38
13 6 10
30-6%
2% 1% 2%5%
2015A 2016A 2017A 9M 2017 9M 2018
(US$ millions)
0.9 0.8
1.6 1.8
0.7 0.7
1.3 1.4
2015 2016 2017 9M 2018
Current Ratio Quick Ratio
0.3%
4.5%6.5%
10.0%
2015 2016 2017 9M 2018 LTM
Return on Capital Employed (ROCE)Liquidity Ratios
3.5
2.52.2
1.5
4.5 3.2 3.0
2.3
2015 2016 2017 9M 2018 LTM
Net Debt to EBITDA Debt to EBITDA
2.7 2.6 2.3
1.6
3.5 3.3 3.2
2.4
2015 2016 2017 9M 2018
Net Debt to Equity Debt to Equity
Debt and Net Debt to EquityDebt and Net Debt to EBITDA
Thank You