pt. adhi karya (persero) tbk - bnp paribas asean conference - hong kong

PT ADHI KARYA (Persero) Tbk.

BNP Paribas ASEAN Conference“Consumer &

Infrastructure”

Hong Kong3rd March 2011

2

1. Company Overview

2. Performance & Target

3. Corporate Focus

COMPANY OVERVIEW

3

1960

The largest Indonesian construction company.

19982001

Vision changed to focus on Construction Service and entered

EPC business.

PN Adhi Karya nationalizing

Associatie N.V.

• Go Public 18 Mar 04;

• Enter globalconstruction market.

20042006

New Vision, Mission,& Logo with tagline “Beyond Construction”.

2007

ADHI won a prestigious EPC project of PLTU Lampung.

2008

Established two subsidiaries:

2009

ACPS, for the 1st time in toll road construction (KANCI-PEJAGAN toll road) in Indonesia.

ACPS®

Milestones

[Adhi Concrete Pavement System]

2010

• Receive Full Patent of:• Monorail Design & ACPS• Won PLTU Balikpapan

2x100 MW

Group Members:

: Property

: Construction

: Construction

: Trading

: Property

4

Investment

Construction

E P C

COMPANY OVERVIEWLines of Business

5

GCG AWARD 2009

Best Disclosure& Transparency

From: IICD & Business Review

IMAC 2010(Indonesia’s

Most Admired Companies)

From: Frontier Consulting Group & BusinessWeek

ARA 20081st Rank

(Annual Report Award)

From:Bapepam-LK, SOE Ministry, BI, IDX, Tax DG, KNKG, IAI

Website Award 2009

Best UserInterface

From: SOE Ministry

CGPI 2010As Trusted Company

(CorporateGovernance Perception

Index)

From: IICG

SOE Award 2010

(State-Owned Enterprise)Best GCG

From: SOE Ministry

Awards Received

COMPANY OVERVIEW

6

# Shares Issued: 1.801.320.000

# Shares Buy Back (as treasury stock): 44.094.500

Total Outstanding Shares

1.757.225.500

Foreign Ownership Growth of

79%

14%

34%

52%

As per 31 December 2009

Foreign

Local

Government

COMPANY OVERVIEWStock Ownership

25%

23%

52%

as per 30 December 2010

7

IDR mn

Revenue (2005-2011)

COMPANY OVERVIEW

3,027,081

4,328,860 4,973,867

6,639,942

7,714,614

6,059,564

9,150,457

0

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000

7,000,000

8,000,000

9,000,000

10,000,000

2005 2006 2007 2008 2009 2010F 2011F

350,236

436,987 495,456

572,521

751,880 677,925

949,921

77,920 95,581 114,220 81,482

165,529 185,357 203,557

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

900,000

1,000,000

2005 2006 2007 2008 2009 2010F 2011F

8

IDR mn

Gross Profit

Net Income

Gross Profit & Net Income (2005-2011)

COMPANY OVERVIEW

1. Company Overview


3. Corporate Focus

9

10

PERFORMANCE & TARGETIncome Statement

IDR Million 2009A % 2010F %Revenue 7,714,614 100.0 6,059,564 100.0

Cost of Contract 7,059,135 91.5 5,459,224 90.1

Gross Profit 655,479 8.5 600,340 9.9

Profit (Loss) JO 96,401 1.2 68,742 1.1

Gross Profit after JO 751,880 9.7 669,082 11.0

Operating Expense 215,061 2.8 211,404 3.5

Operating Profit 536,819 7.0 457,678 7.6

Other Income (Expense) (97,200) (1.3) (34,416) (0.6)

E B I T 439,619 5.7 423,262 7.0

Interest Expense (107,846) (1.4) (100,000) (1.7)

E B T 331,773 4.3 323,263 5.3

Tax (168,850) (2.2) (139,906) (2.3)

Minority Interest in Subsidiaries 2,606 0.0 2,000 0.0

Net Income 165,530 2.1 185,357 3.1

11

PERFORMANCE & TARGETBalance Sheet 2009A % 2010F %

ASSETSCash and Bank 306,902 5.5 389,916 7.8

Receivables 3,613,856 64.2 2,820,700 56.3Inventory 510,174 9.1 505,705 10.1

Advance Payment 262,274 4.7 287,472 5.7Other Current Asset 511,160 9.1 588,431 11.8

Current Asset 5,204,366 92.4 4,592,224 91.7Investment in Associated Companies 61,545 1.1 70,198 1.4

Fixed Asset - Net 128,128 2.3 88,512 1.8Non Current Asset 235,414 4.2 255,232 5.1

TOTAL ASSET 5,629,454 100.0 5,006,165 100.0LIABILITIES

Account Payable 2,849,719 50.6 2,233,054 44.6Contract Advances 548,589 9.7 587,646 11.7

Bank Loans & Bonds 852,536 15.1 803,081 16.0Other Liabilities 637,738 11.3 517,724 10.3

TOTAL LIABILITIES 4,888,581 86.8 4,141,505 82.7Minority Interest in Subsidiaries 9,673 0.2 7,673 0.2

EQUITY 731,200 13.0 856,986 17.1TOTAL LIABILITIES & EQUITY 5,629,454 100.0 5,006,165 100.0

IDR Million

Private 44%

Government

& Related 56%

2009

Private 14%

Government

& Related 86%

2010F

12

PERFORMANCE & TARGETRevenue Breakdown by Project Owner

13

Private

Building 20% Gov’t & Related

EPC 7%

Gov’t & Related

Infrastructure 30%

Gov’t & Related

Building 19%Private

Infrastructure 24%

Private

Building 12%

Private

Infrastructure 2%

Gov’t &

Related EPC 21%

Gov’t & Related

Infrastructure 31%

Gov’t & Related

Building 34%

PERFORMANCE & TARGETRevenue Breakdown by Type of Project

2009

2010F

142010F

Total Contract Target Incl. JO

13,535

JO: 1,412

JO: 2,283

JO: 927

Order BookNon JO

3,781

TotalRevenueIncl. JO 6,986

Total Order Book Incl. JO6,549

New Contract TargetNon JO

5,831

Carry Over to 2011

Note:

JO: Joint Operation

Revenue JO is not booked on IS, only profit (loss) from JO

8,114

In IDR bn

JO: 2,768

2011F

Total Contract Target Incl. JO

19,138

JO: 3,462

Total

Revenue

9,150

JO: 1,994

TotalRevenueIncl. JO 11,144

Total Order Book Incl. JO7,994

New

Contract

Target

Non JO

9,127

Carry Over to 2012

NewContract

Target12,589

JO: 4,236

JO: 2,768

5,421

PERFORMANCE & TARGETOrder Book

Carry Over 2009Non JO

4,009

Total

Revenue

6,059

Order BookNon JO

3,781

Order BookNon JO

3,758

6,549

1.9

2.24.0

4.4

Others

Buildings EPC

Toll Road

12.5

2011 Target Contractin trillion IDR

PERFORMANCE & TARGET

32%

68%

16

2011FContract Breakdown by Type of Project

Infrastructures

Building


67%

33%

17

2011FContract Breakdown by Project Owner

Government &

Related

Private


18

Target Highlights


IDR Million 2010%

2011%

FY (Prog) FY (Target)

Revenue 6,059,564 100.00% 9,150,457 100.00%

Cost of Contract 5,450,381 89.95% 8,363,974 91.40%

Gross Profit after JO 677,925 11.19% 949,921 10.38%

Net Income 185,357 3.06% 203,557 2.22%

19

1. Company Overview


3. CORPORATE FOCUS

The Priority Infrastructure Demand Until 2015 Around US$76 Billion

Need for Infrastructure Priority Stage-1 (2010-2015) Need for Infrastructure Priority Stage-21 (2016-2030)

Investment Requirement ($ Billion) Investment Requirement ($ Billion)

Upper Line

Lower Line

Out of the priority infrastructures, the other infrastructures development must be continued

1. Based on macro calculationSource: BCG analysis, IEDC Master Plan, Working Group Discussion

Assumption: 3.7% -4.9% Corridor RGDP

Project Example:Dumai Port Expansion ($0.13 Billion)

Project Example: Coal Railway Puruk Cahu –Bangkuang & Tj. Isuy($3.5 Billion)

Project Example: Central Java Power Plant 2000MW ($2.0 Billion)

CORPORATE FOCUS

Source: Coordinating Ministry For Economic Affairs

CONSOLIDATION

21

POWER PLANT

OIL & GAS

HIGHWAYS / TOLL ROAD

Monorail & Overseas

EPC

CONSTRUCTIONQUALITY of EARNINGS

Extending

Strengthening

AMP(asphalt mixing

plant)

INVESTMENT

PROPERTY & OTHERS THROUGH SUBSIDIARIES

ACPSMonorail

Spin-Off

Development

Encourage

Innovative

Culture

HI-RISE BUILDING / OTHER INFRA

Competitive Advantage

Competence

CORPORATE FOCUSProductivity

Efficiency

Se

ttle

me

nt

22

Why ACPS® ?

ProfitableInvestment

Faster ConstructionPeriod

Minimized IDCSimple

Maintenance

Low MaintenanceCost

High Performance& Durability

ReasonableConstruction Cost

ACPS: a competitive advantage

CORPORATE FOCUS


23

More Chances Ahead

ACPS

Winning

Toll Road Projects

►With a New Innovation of Pavement System in

Indonesia, ADHI has greater chances to win numbers of toll

road projects.

►Ahead, ADHI aims to win several toll road projects in

Indonesia.

®

CORPORATE FOCUSACPS: a competitive advantage


24

Pre-cast Concrete Plant Activities



25

On-site Activities

25



I N D O N E S I A 1 0 . 0 0 0 M W P R O G R A M [ P L N ]

No Power Plant Project ProvinceCapacity

(MW)

1 PLTP Tangkuban Perahu I Jawa Barat 2 x 55

2 PLTP Kamojang 5 dan 6 Jawa Barat1 x 401 x 60

3 PLTP ljen Jawa Timur 2 x 55

4 PLTP lyang Argopuro Jawa Timur 1 x 55

5 PLTP Wilis/Ngebel Jawa Timur 3 x 55

6 PLTP Sungai Penuh Jambi 2 x 55

7 PLTP Hululais Bengkulu 2 x 55

8 PLTP Kotamobagu 1 dan 2 Sulawesi Utara 2 x 20

9 PLTP Kotamobagu 3 dan 4 Sulawesi Utara 2 x 20

10 PLTP Sembalun Nusa Tenggara Barat 2 x 10

Source: Ministry of Energy and Mineral Resources

I N D O N E S I A 1 0 . 0 0 0 M W P R O G R A M [ P L N ]

No Power Plant Project ProvinceCapacity

(MW)

11 PLTP Tulehu Maluku 2 x 10

12 PLTA Upper Cisokan Jawa Barat 4 x 250

13 PLTA Asahan 3 Sumatera Utara 2 x 87

14 PLTU lndramayu Jawa Barat 1 x 1000

15 PLTU Pangkalan Susu 3 dan 4 Sumatera Utara 2 x 200

16 PLTU Sampit Kalimantan Tengah 2 x 25

17 PLTU Kotabaru Kalimantan Selatan 2 x 7

18 PLTU Parit Baru Kalimantan Barat 2 x 50

19 PLTU Takalar Sulawesi Selatan 2 x 100

20 PLTG Kaltim (Peaking) Kalimantan Timur 2 x 50

21 PLTGU Muara Tawar Add-on 2,3 dan 4 Jawa Barat1 x 1503 x 350

Source: Ministry of Energy and Mineral Resources

I N D O N E S I A N E X T T O L L R O A D P I P E L I N E

Trans-Java Length(KM)

BUJT/InvestorInvestment(IDR trilion)

Remarks

Cikampek-Palimanan 116 PT Lintas Marga Sedaya 11,36 Majority Shareholders Support

Pejagan-Pemalang 57,5PT Pejagan Pemalang Toll Road

5,51 Shareholders Restructure

Pemalang-Batang 39PT Pemalang Batang Toll Road

3,82 Additional Equity from Shareholders

Semarang-Batang 75 PT Marga Setiapuritama 7,21 Shareholders Restructure

Semarang-Solo 75,7 PT Trans Marga Jateng 6,21 Majority Shareholders Support

Solo-Ngawi 90,1 PT Solo Ngawi Jaya 5,13 Majority Shareholders Support

Ngawi-Kertosono 87,02 PT Ngawi Kertosono Jaya 3,83 Majority Shareholders Support

Kertosono-Mojokerto

40,5 PT Marga Hanurata Intrinsic 3,48 --

Surabaya-Mojokerto 36,27 PT Marga Nujyasumo Agung 3,12 Majority Shareholders Support

Source: Ministry of Public Works


JORR II Length(KM)


Remarks

Cengkareng-Kunciran

15,2PT Marga Kunciran Cengkareng


Kunciran-Serpong 11,2 PT Marga Trans Nusantara 2,62 Shareholders Restructure

Cinere-Serpong 10,14 PT Cinere Serpong Jaya 2,21 Majority Shareholders Support

Cinere-Cimanggis 14,7 PT Trans Lingkar Kita Jaya 3,17 Majority Shareholders Support

Cimanggis-Cibitung 25,4PT Cimanggis Cibitung Tollways


Cibitung-Cilincing 34,5 MTD-Nusa Cipta 4,22 Majority Shareholders Support



Non-Trans-Java

Length(KM)


Remarks

JORR W2 7 PT Marga Lingkar Jakarta -- Majority Shareholders Support

Gempol-Pandaan 13,61 PT Margabumi Adhikaraya 0,89 Majority Shareholders Support

Depok-Antasari 21,7 PT Citra Waspphutowa 4,76 Majority Shareholders Support

Ciawi-Sukabumi 54 PT Trans Jabar Tol 7,77 Shareholders Restructure

Waru-Tj.Perak 18,6 PT Margaraya Jawa Tol 11,11 Additional Equity from Shareholders

Pasuruan-Probolinggo

45 PT Trans Jawa Pas Pro 5,96 Shareholders Restructure

Bekasi-Kp.Melayu 21,04 PT Kresna Kusuma Dyandra 7,15 Additional Equity from Shareholders

Gempol-Pasuruan 33,75PT Transmarga Jatim Pasuruan

2,76 Majority Shareholders Support

Bogor Ring Road 11 PT Marga Trans Jabar 1,44 Majority Shareholders Support


The End of Presentation

Visit us at www.adhi.co.id

For further information please contact:

Kurnadi Gularso, Corporate Secretary

Ki Syahgolang Permata, IR & Corporate Communications

P. +62 21 797 5312 F. +62 21 797 5311 E. [email protected]

Disclaimer:

Important Notice

This document is for information purposes only based on the information provided by the Company and does not constitute an offer, solicitation

term, representation or warranty with respect to the purchase or sale of any security. Neither this document nor anything contained in it shall form

the basis of relied upon in connection with any contract or commitment whatsoever.

None of the Company, PT Adhi Karya (Persero) Tbk. or any person connected with any of them accepts any liability whatsoever for any loss

howsoever arising from any use of this document or its contents or otherwise arising in connection therewith.

Any opinion, estimate or projection herein constitutes a judgment as of the date of this document, and there can be no assurance that future or

events will be consistent with any such opinion, estimate or projection. The information in this document is subject to change without notice, its

accuracy is not verified or guaranteed, it may be incomplete or condensed and it may not contain all material information concerning the Company.

PT Adhi Karya (Persero) Tbk.

mailto:[email protected]

pt. adhi karya (persero) tbk - bnp paribas asean conference - hong kong

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