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PT. WASKITA BETON PRECAST, Tbk
Company Update3Q - 2017
1
2
Who We Are
Karawang Plant (2016)
3
Establishment of Precast Division
Precast Division
Establishment of PT WaskitaBeton Precast as subsidiary
October 2014
2013
20142015
2016
Public
IPO PT Waskita Beton Precast TbkSeptember 2016
59.99% 40.01%
VisionTo Become Leading Company In Indonesia In
Manufacturing Sector of Precast, Readymix, Quarry, Construction Service And Post-tension Precast Concrete
0.62
0.80
1.802.65
4x
x Production Capacity (Million Ton per Year)
We have grown significantly since our first inception in 2013
2017
3.25
Precast Readymix
Construction Services
Our main products are Precast and Readymix Concrete
Cibitung(350,000 ton)
Sidoarjo(400,000 ton)
Palembang(200,000 ton)
Kalijati(250,000 ton)
Karawang(450,000 ton)
Bojonegara(200,000 ton)
Subang(350,000 ton)
Klaten(150,000 ton)
Sadang(375,000 ton)
Gasing(250,000 ton)
Legundi(275,000 ton)
Plant (11)
JAKARTA/BANTEN1. Desari2. Becakayu3. Cakung4. Kemayoran5. Cengkareng6. Karawaci
WEST JAVA1. Kalijati2. Kertajati3. Bocimi4. Kota Wisata5. Bekasi Barat
NORTH SUMATRA1. Kuala Tanjung2. MKTT
LAMPUNG1. Lampung2. Sedyomulyo3. Bandar Agung
SOUTH SUMATERA
1. Kayu Agung2. Bandara3. Jakabaring 14. Jakabaring 2
EAST JAVA1. Balerejo2. Sumber Asih3. Walikukun4. Tongas5. Grati6. Legundi 17. Boboh8. Bunder9. Muneng10. Meganti
CENTRAL JAVA1. Pejagan 12. Pejagan 23. Banjaratna4. Masaran5. Banaran6. Sidoharjo 1
Batching Plant (62)
7. Sidoharjo 28. Kebun Romo9. Grudo10. Baderan11. Sidowah12. Balamoa13. Petarukan14. Gringsing15. Adiwerna16. Warurejo17. Pegandon18. Warung
Asem19. Kandeman20. Kaliwungu 121. Kaliwungu 222. Sragi23. Grudo 124. Grudo 225. Subah26. Tingkir27. Ampel28. Bojong 4
30%
60%
10%
29. Sidowayah30. Kebonromo31. Ngalian
NORTH SULAWESI1. Manado -
Betung
We have developed a number of Product Lineup
5
Pre
cast
Pro
du
cts
L GUTTERU DITCH CCSP U GUTTER DIAFRAGMA WALLFCSP
BOX GIRDER PCI GIRDER
PCU GIRDER
PCT GIRDER SPUN PILE 60cmSQUARE PILE
RC PLATE BARRIER HALF SLABFULL SLAB VOIDED SLAB
SPUN PILE 1,2m
K100 – K800Rea
dym
ix P
rod
uct
s
800,000
1,800,000
2,650,000
3,250,000 58%
64%
70%
40%
50%
60%
70%
80%
-
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
2014 2015 2016 2017F
‘14-’16CAGR 82%
6
Precast Production Volume as per September 2017 : 1,372,379
Precast Capacity & Utility
• In 2016, plant’s capacity and precastproduction is tripled from 2014
• Our production Capicity Now Is 3,250,000Ton
Capacity expansion ensures our future growth
Precast Volume Production
463,200
1,160,000
1,561,229 1,372,379
2014 2015 2016 Sep-17
‘14-’16CAGR 84%
7
Our Competitive Edge
Cimanggis – Cibitung Tollroad (August - 2017)
Synergy with WSKT Group has given us competitive advantages
8
Tahun 2014 2015 2016 2017F
(IDR) 3.3 T 2.2 T 12.2 T POTENTIALS
Projects
Bekasi-Cawang-Kp.Melayu(Becakayu Seksi 1-2)
Pejagan Pemalang (Seksi 3) Pejagan Pemalang (Seksi 4) Terbanggi Besar – Kayu Agung
Pejagan Pemalang (Seksi 1-2) Kuala Tanjung Port Cimanggis Cibitung Paket 2 Tol Kunciran – Bandara
Depok - Antasari Tollroad MKTT Pemalang Batang Terbanggi Besar – Mesuji
Solo - Ngawi (Seksi 1-2) Batang Semarang Tol Kediri – Kertosono
Ngawi Kertosono Bogor Ciawi 2 – 4 Japanan Mojosari – Mojokerto
Cimanggis Cibitung Paket 1 LRT – Palembang Dermaga Kijing
Legundi – Bunder Penajam – Balikpapan
Kayu Agung- Palembang –Betung
Tol Probolinggo – Banyuwangi
Pasuruan – Probolinggo Jakarta - Cikampek
Boyolali – Salatiga
VERTICAL INTEGRATION
9
New Contract Achievement(In Rp Billion)
Notes : 2017 record is for 5M only
• New Contract per September 2017: Rp 7,4 Tn.
• Contracts mainly supported by business development projects (Toll-Road)
495 355 430 123 558 329 731 731
3,046
1,971
11,066
6,570 4,099
2,655
12,227
2014 2015 2016 Sep-17
Internal External Business Development Total New Contract
7,423
Obtains higher marketing performance (1/2)
10
Total Orderbook
• Orderbook as per September 2017: Rp 17.60 Tn (including Carryover 2016 of Rp 10.2 Tn)
(In Rp Billion)
4,408
5,871
15,051
17,599
2014 2015 2016 Sep-17
‘14-’16CAGR 84.4%
Obtains higher marketing performance (2/2)
11
These competitive edges are reflected in our contract achievement
No Project in 2017 Value (Rp Bn)
1 Precast, Readymix Tol Cibitung - Cilincing 1,109,148
2 Precast, Readymix Jalan Tol Cileunyi Sumedang - Dawuan Seksi 3, 4, 5, dan 6 645,057
3 Precast, Readymix Jalan Tol JORR Package 3 Serpong - Cinere 417,837
4 Readymix, - Proyek Tol Pematang Panggang - Kayu Agung 603,338
5 Girder, Spun Pile - Jalan Tol Krian Legundi Bunder 574,706
6 Readymix, Precast MCB - Proyek Tol Jakarta Cikampek II (Elevated) 563,917
7 Spun Pile, PCI Girder - Proyek Tol Pematang Panggang - Kayu Agung 556,590
8 Add Proyek Jalan Toll Batang – Semarang Paket 1 489,011
9 Pekerjaan Pembangunan Jalan Tol Krian - Legundi - Bunder- Manyar Pekerjaan Pile Slab (Penambahan Nilai Kontrak) 447,329
10 Readymix - Proyek Tol Kayu Agung - Palembang - Betung At Grade 386,927
11 Readymix - Jalan Tol Krian Legundi Bunder 272,222
12 Readymix, Girder, Spun Pile - Proyek Jalan Tol Terbanggi Besar - Kayu Agung 260,371
13 Readymix & PCI Girder Jalan Tol Jorr II Paket I Kunciran Serpong 174,904
No Project in 2016 Value (Rp Bn)
1 Precast & Readymix Legundi-Bunder Tollroad 2,600.00
2 Precast, Readymix - Tol Cimanggis - Cibitung (Seksi 2) Tollroad 2,230.24
3 Precast, readymix Batang Semarang Tollroad 1,509.76
4 LRT Palembang 1,021.51
5 Bogor Ciawi Sukabumi Tollroad, Section 2,3,4 790.76
6 Kayu Agung - Palembang - Betung Tollroad 704.76
Efficiencies are pushed forward to support better margin
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Quarry
HORIZONTAL INTEGRATION
Mixer Truck
We own majority of our Mixer Trucks in operation for Readymix
Concrete to provide better operating margin
Location
Sambirejo, Sragen
Ungaran, Semarang
Rumpin, Bogor
Talun, Pekalongan
13
Performance Delivered
LRT Palembang (2017)
Major Contracts Progress
14
Solo Kertosono
(61.6%)
LRT Palembang
(86.4%)
CCTW I & II
(25.7%)
Becakayu
(94.5%)
*Exclude PPN, Data as per August 2017
Jakarta – Cikampek Elevated
(16.8%)
Semarang – Batang
(42.4%)
Legundi – Bunder
(45.5%)
Bogor – Ciawi –Sukabumi
(4.7%)
500
1,178
3,002
5,551
6,329 6,760
2014A 1H 2015 2015A 1H 2016 2016A 1H 2017
15
Balance Sheet Position
Total Liabilities
Interest Bearing DebtTotal Equity
(in Rp Billion)
CAGR*255%
CAGR* 225%
*Notes: CAGR is for annual value only
-
45
761
2,421
3,356
3,978
2014A 1H 2015 2015A 1H 2016 2016A 1H 2017
702 874 1,331 1,861
7,406 7,527
2014A 1H 2015 2015A 1H 2016 2016A 1H 2017
Total Asset
1,203 2,052
4,332
7,412
13,734 14,287
2014A 1H 2015 2015A 1H 2016 2016A 1H 2017
CAGR*238%
140
334
635
107
341
436
2014 2015 2016 2017
642
2,644
4,717
817
1,869
2,668
2014 2015 2016 2017
FY 1H
16
Earning Performance
Revenue COGS
EBITDA Net Profit
22.85% 15.86% 22.26% -
- 15.88% 30.49% 25.51%
FY
1H
Gro
ss M
argi
n
21.86% 12.64% 13.46% -
- 13.10% 19.15% 16.36%
FY
1HNe
t M
argi
n
CAGR 171% CAGR
81%
CAGR 172%
CAGR 70%
CAGR 113%
CAGR 102%
(Rp Jutaan)
495
2,225
3,667
687
1,300
1,988
2014 2015 2016 2017
150
460
1,208
141
686
1,027
2014 2015 2016 2017
EBIT
DA
Mar
gin
CAGR 184%
CAGR 170%
23.37% 17.39% 25.60% -
- 17.23% 36.70% 38.47%
FY
1H
21.26%
25.13%
14.53%12.24%
19.24%
5.80%
2014 2015 2016 2017
11.67%
7.72%
7.03%
5.21% 4.83% 3.05%
2014 2015 2016 2017
1.96
0.41
1.71
1.36
0.74
2.03
2014 2015 2016 2017
17
Financial Ratio
Return on Equity Ratio Return on Assets Ratio
Debt to Equity Ratio Current Ratio
-7% 22%CAGR
-17% -31%CAGR -22% -23%CAGR
-
0.57
0.45
0.05
1.30
0.53
2014 2015 2016 2017
FY 1H 220%
Financial Report:Profit and Loss Statement
18
(in Rp Million)
2014A 1H 2015 2015A 1H 2016 2016A 1H 2017
Sales 641,931 816,812 2,644,320 1,869,221 4,717,150 2,668,386
Cost of good sold (495,226) (687,112) (2,224,890) (1,300,187) (3,667,088) (1,987,811)
146,705 129,700 419,430 569,034 1,050,062 680,575
22.85% 15.88% 15.86% 30.44% 22.26% 25.51%
(4,008) (21,474) (54,298) (30,755) (54,280) 15,469
142,697 108,226 365,132 538,279 995,783 696,044
22.23% 13.25% 13.81% 28.80% 21.11% 26.08%
- - (19,582) (83,434) (28,438) (164,642)
142,697 108,226 345,550 454,845 967,345 531,402
Tax Expense (2,392) (1,256) (11,181) (113,818) (332,525) (94,945)
140,305 106,970 334,370 341,027 634,820 436,457
21.86% 13.10% 12.64% 18.24% 13.46% 16.36%
EBITDA 149,995 140,709 459,809 685,926 1,207,587 1,026,531
23.37% 17.23% 17.39% 36.70% 25.60% 38.47%
Gross Profit Margin
Gross Profit
Operating Cost
Operating Profit
Other income (expense)
EBITDA Margin
Earning before taxes
Operating Profit Margin
Net Profit Margin
Net profit
*Other Expenses in June 2016 & 2017 includes the interest costs which are directly attributable to the cost of a qualifying project
*
Financial Report: Balance Sheet
19
(in Rp Million)
2014A 1H 2015 2015A 1H 2016 2016A 1H 2017
980,931 1,601,630 1,003,665 3,042,198 8,132,621 10,779,583
221,675 450,236 3,328,743 4,369,397 5,601,647 3,507,236
1,202,606 2,051,865 4,332,408 7,411,594 13,734,267 14,286,819
500,441 1,178,089 2,432,181 4,104,405 4,766,317 5,304,192
- - 569,401 1,446,142 1,562,449 1,455,310
500,441 1,178,089 3,001,582 5,550,547 6,328,766 6,759,503
702,165 873,776 1,330,825 1,861,048 7,405,501 7,527,316
1,202,606 2,051,865 4,332,407 7,411,595 13,734,267 14,286,819
ASET
Total Liability
EQUITY
Total Equity
Total Liabilities and Equity
Total Current Assets
Total Non-Current Assets
LIABILITAS
Total Current Liabilities
Total Long-term Liability
Total Aset
Financial Report:Cash Flow
20
(in Rp Million)
2014A 1H 2015 2015A 1H 2016 2016A 1H 2017
Net Cash from Operations (85,007) (261,031) (686,135) (1,065,330) (3,034,905) (2,543,132)
Net Cash from Investing (21,615) (109,280) (123,555) (681,578) (833,320) (904,253)
Net Cash From Financing 378,844 423,844 635,655 2,230,849 7,975,859 1,299,765
Net increase/(decrease) in cash held 272,221 53,533 (174,035) 483,942 4,107,635 (2,147,619)
Cash at the beginning of the year - - 272,221 98,186 98,186 4,205,820
Cash at the end of the year 272,221 53,533 98,186 582,127 4,205,820 2,058,201
CAGR* 225%
702 1,113
1,331
7,175 7,406 7,516
2014A 3Q 2015 2015A 3Q 2016 2016A 3Q 2017
500
1,991
3,002
6,411 6,329
8,280
2014A 3Q 2015 2015A 3Q 2016 2016A 3Q 2017
1,203
3,104 4,332
13,586 13,734
15,796
2014A 3Q 2015 2015A 3Q 2016 2016A 3Q 2017
Balance Sheet Position
Total Liabilities
Interest Bearing DebtTotal Equity
(in Rp Billion)
CAGR*255%
*Notes: CAGR is for annual value only
Total Asset
CAGR*238%
188 761
2,782 3,356
4,778
2014A 3Q 2015 2015A 3Q 2016 2016A 3Q 2017
21
149
458
1,165
264
981
1,642
2014 2015 2016 2017
EBIT
DA
Mar
gin
140
334
635
211
503
825
2014 2015 2016 2017
Ne
t M
argi
n
495
2,225
3,478
1,367
2,212
3,665
2014 2015 2016 2017
FY
3Q
CAGR 64%
22.85% 15.86% 22.26% -
- 15.47% 27.87% 26.87%
642
2,644
4,717
1,617
3,066
5,011
2014 2015 2016 2017
FY 3Q
Earning Performance
Revenue COGS
EBITDA Net Profit
21.86% 12.64% 13.46% -
- 13.06% 16.39% 16.47%
CAGR 171%
CAGR 76%
CAGR 113%
CAGR 98%
(Rp Jutaan)
23.24% 17.32% 24.69% -
- 16.31% 32.01% 32.77%
Gro
ss M
argi
n
CAGR 172%
FY
3Q
FY
3Q
22
CAGR 179%
CAGR 150%
21.26%
25.13%
14.53%
18.97%
12.13%11.23%
2014 2015 2016 2017
FY 3Q
1.96
0.41
1.71
1.19
1.83
1.59
2014 2015 2016 2017
FY 3Q
0.57 0.45
0.17
0.39
0.64
2014 2015 2016 2017
FY 3Q CAGR
Financial Ratio
Return on Equity Ratio Return on Assets Ratio
Debt to Equity Ratio Current Ratio
-7% 15%CAGR
-17% -23%CAGR -22% -12%CAGR
94%
23
11.67%
7.72%7.03%
6.80% 6.02%5.62%
2014 2015 2016 2017
FY 3Q
2014A 3Q 2015 2015A 3Q 2016 2016A 3Q 2017
Sales 641,931 1,616,735 2,644,320 3,066,477 4,717,150 5,011,381
Cost of good sold (495,226) (1,366,553) (2,224,890) (2,211,727) (3,667,088) (3,664,993)
Gross Profit 146,705 250,183 419,430 854,750 1,050,062 1,346,388
Gross Profit Margin 22.85% 15.47% 15.86% 27.87% 22.26% 26.87%
Operating Cost (4,802) (36,627) (56,075) (54,334) (97,012) (117,334)
Operating Profit 141,903 213,555 363,355 800,416 953,050 1,229,053
Operating Profit Margin 22.11% 13.21% 13.74% 26.10% 20.20% 24.53%
Other Income/expense 794 1,668 1,777 3,338 42,733 93,197
Profit before financial charges & Tax 142,697 215,223 365,132 803,754 995,783 1,322,251
Total Financial Charges & Net of joint Venture - (2,060) (19,582) (133,662) (28,438) (248,775)
Earning before taxes 142,697 213,163 345,550 670,092 967,345 1,073,476
Tax Expense / Income (2,392) (2,035) (11,181) (167,562) (332,525) (248,300)
Net profit 140,305 211,128 334,370 502,530 634,820 825,176
Net Profit Margin 21.86% 13.06% 12.64% 16.39% 13.46% 16.47%
EBITDA 149,201 263,745 458,032 981,449 1,164,855 1,642,429
23.24% 16.31% 17.32% 32.01% 24.69% 32.77%EBITDA Margin
Financial Report:Profit and Loss Statement
(in Rp Million)
*Financial Charges in September 2016 & 2017 includes the interest costs which are directly attributable to the cost of a qualifying project
24
*
Financial Report: Balance Sheet
(in Rp Million)
25
2014A 3Q 2015 2015A 3Q 2016 2016A 3Q 2017
980,931 2,378,749 1,003,665 8,945,660 8,132,621 10,824,409
221,675 724,883 3,328,743 4,640,713 5,601,647 4,971,510
1,202,606 3,103,632 4,332,408 13,586,373 13,734,267 15,795,918
500,441 1,990,697 2,432,181 4,884,408 4,766,317 6,822,379
- - 569,401 1,526,866 1,562,449 1,457,707
500,441 1,990,697 3,001,582 6,411,274 6,328,766 8,280,087
702,165 1,112,935 1,330,825 7,175,098 7,405,501 7,515,832
1,202,606 3,103,632 4,332,407 13,586,372 13,734,267 15,795,918
ASET
Total Liability
EQUITY
Total Equity
Total Liabilities and Equity
Total Current Assets
Total Non-Current Assets
LIABILITAS
Total Current Liabilities
Total Long-term Liability
Total Aset
Financial Report:Cash Flow
(in Rp Million)
26
2014A 3Q 2015 2015A 3Q 2016 2016A 3Q 2017
Net Cash From Operations (85,007) (417,265) (686,135) (1,930,670) (3,034,905) (2,231,459)
Net Cash From Investing (21,615) (157,902) (123,555) (479,532) (833,320) (949,174)
Net Cash From Financing 378,844 335,000 635,655 7,706,928 7,975,859 320,659
Net increase/(decrease) in cash held 272,221 (240,167) (174,035) 5,296,727 4,107,635 (2,859,974)
Cash at the Beginning of the year - 272,221 272,221 98,186 98,186 4,205,820
Cash at the end of the year 272,221 32,054 98,186 5,394,913 4,205,820 1,345,846
27
2017 Target
Jakabaring Palembang Batching Plant (2017)
2017 Target
28
Financial
• Revenue : Rp 7.75 Trillion
• Net Profit : Rp 1.13 Trillion
Operational
• New Contract : Rp 12.36 Trillion
• Production Capacity : 3.25 Million tons
• Utilization : 70%
% to 2016 Achievement
+64.3%
+78.0%
+1.3%
+22.6%
+0.0%
715
1,286
700
140
67
197
215
389
-
47
256
-
2016F 2017F 2018F
Precast Readymix Quarry Equipment
29
(in Rp Billion)WSBP Plan in Capital Expenditure
(in
Rp
Bill
ion
)
Capital Expenditure Plan
2016F 2017F 2018F Total
Precast 715 1,286 700 2,701
Readymix 140 67 197 404
Quarry 215 389 - 604
Equipment 47 256 - 303
Total 1,117 1,998 897 4,012
DisclaimerThis material is for information only, and we are not soliciting any action based upon it. This report is not to be construed as an offer to sell or thesolicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal. The information herein has beenobtained from sources believed to be reliable, but we do not warrant that it is accurate or complete, and it should not be relied upon as such.Opinion expressed is our current opinion as of the date appearing on this material only, and subject to change without notice. It is intended for theuse by recipient only and may not be reproduced or copied/photocopied or duplicated or made available in any form, by any means, orredistributed to others without written permission of PT Waskita Beton Precast.
Thank You
Head Office: Gedung Teraskita Jakarta, 3 & 3A Floor Jl. MT. Haryono Kav. No. 10A Cawang, Jakarta 13340Ph. (+6221) 22892999Website: www.waskitaprecast.co.id
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