pt united tractors tbk...photo: pltu jawa-4 (tanjung jati 5&6), september 2019 photo: pltu pama-1,...
TRANSCRIPT
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PT United Tractors TbkAnalyst Gathering
Construction Machinery – Mining Contracting – Coal Mine – Gold Mine – Construction Industry - Energy
YTD Sep’19 Performance Update
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Establish in:
13 October 1972
No. of employee (as of September 2019)
34,046 people
Go Public:
19 September 1989
Market cap. (as of 30Sep 2019)
Rp76.7 trillion
Construction
Machinery
Coal Mining
Mining
Contracting
Construction
Industry
Main Business:
Shareholder Composition
40.5%59.5%
Public
3,730,135,136 share asOf 30 Sep 2019
Energy
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Gold Mining
United Tractors in Brief
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29% 30%
50%51%
53% 43%14% 10%
15%
15%
16%
13%36% 46%
24%
24%
21%
29%21%14%
11%
10%
10%
15%
2015 2016 2017 2018 9M 2018 9M 2019
Mining Plantation Construction Forestry
2,568
3,681
Komatsu Sales (in unit)
2,124 2,181
3,788
-30%4,879
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YTD Sep’19 Komatsu sales volume down 30% to 2,568 units. Based on Internal Market Research, Komatsu maintained its position as market leader with 33% market share.
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Source: Internal Market Research
KOMATSU33%
CATERPILLAR17%
HITACHI19%
KOBELCO13%
SUMITOMO5%
OTHERS13%
Komatsu Market Share 9M19
Construction Machinery
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77
361
700808
624
387
246
532
1,116
792683
382
2015 2016 2017 2018 9M 2018 9M 2019
UD TRUCKS SCANIA
UD TRUCKS AND SCANIA
-44%
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YTD Sep’19 UD Trucks sales volume was decreased 38% from 624 units to 387 units and Scaniaproducts was decreased 44% from 683 units to 382 units.
-38%
Construction Machinery
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6,093 5,818
7,113
9,359
6,850 6,846
2015 2016 2017 2018 9M 2018 9M 2019
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YTD September’19 Parts and Service revenue recorded flat growth of Rp6.8 trillion.
Spare Parts & Service Revenue(after elimination, in billion Rupiah)
Construction Machinery
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109.0 109.2 112.6 125.1 90.5 96.4
766.6701.5
800.8
979.4
717.6 749.9
7.06.4
7.1
7.8 7.9 7.8
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
0.0
200.0
400.0
600.0
800.0
1000.0
1200.0
2015 2016 2017 2018 9M 2018 9M 2019
Coal Production (in milion tons) Overburden Removal (in million bcm) Strip Ratio
+7%
+5%
YTD Sep’19 PAMA recorded 7% increase in coal production at 96.4 million tonnes and 5%increase in overburden removal at 749.9 million bcm.
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Mining Contracting
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YTD Sep’19 Tuah Turangga Agung (TTA) recorded total coal sales volume of 6.4 milliontonnes or increase 11%, including 839 thousand tonnes of coking coal.
TTA’s Coal Sales Volume (in thousand tonnes)
4,604
6,808
6,2196,215
5,2895,609
116807
525839
2015 2016 2017 2018 9M 2018 9M 2019
Thermal Coal Coking Coal
11%
7,0226,336
5,8146,448
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Coal Mining
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Location: South Tapanuli, North Sumatra
Operates under a 30-years Contract of Work
The construction has started in 2008 and the production began in 2012
Resources : 8.1 million ounces of gold
Estimated reserve : 4.5 million ounces of gold (December 2018)
Production Target: 400,000 ounces
YTD September Gold Sales : 306,000 ounces
97’E 98’E 99’E [110’E]
3’N
2’N
1’N
Medan
Tebing Tinggi
Tanjung
Balai
PematangsiantarKabanjahe
Sidikalang
Lake Toba
SUMATRA
Parapat
Rantau
PrapatBarus Tarutung
80km0N
Sibolga MARTABE DEPOSITS
BatangtoruPadangsidempuanGunung Sitoli
NIAS
ISLANDINDONESIA
MARTABE
GOLDMINE
JakartaJava
Nusa TenggaraIndian
Ocean
KalimantanSulawesi Irian Jaya
Kotanopan
Lubuksikaping
Singapore
Martabe Gold Mine
Gold Mining
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New Contracts(in billion Rupiah)
3,0883,773
8,441
1,596
835
1,709
2015 2016 2017 2018 9M 2018 9M 2019
• Until September 2019, PT Acset Indonusa Tbk (ACSET) recorded net revenue of Rp3,1trillion, increase from Rp2,7 trillion in the same period last year.
• ACSET obtained new contracts worth of Rp 1.7 trillion until September 2019
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Construction Industry
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Photo: PLTU Jawa-4 (Tanjung Jati 5&6), September 2019
Photo: PLTU PAMA-1, September 2018
PLTU PAMA-1
UT through subsidiary has built the mine mouthpower plant PLTU PAMA-1 of 2x15 MW in CentralKalimantan. The first unit has started operation on27 September 2018, while the second unit willstart in 2020.
PLTU Jawa-4 (Tanjung Jati 5 & 6)
Bumi Jati Power, 25%-owned by UT is developingand will operate 2x1,000 MW coal fired powerplant in Jepara, Central Java. Until September2019, the progress of development has reached82%, in line with plan and scheduled to startcommercial operation in 2021.
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Energy
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9
7,181
YTD September’19 net revenue increased by 7% to Rp65.6 trillion from Rp61.1 trillion, driven byhigher revenue of Mining Contracting, Coal Mining, added with a new contribution from the GoldMining segment and partially offset by lower contribution from Construction Machinery segment
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In Billion Rupiah
13,629 14,61824,771 29,615 21,347 18,166
30,545 24,003
29,637
40,559
28,91330,019
3,8175,124
7,181
10,727
8,134 8,4891,357 1,794
3,031
3,724
2,731 3,0605,874
2015 2016 2017 2018 9M 2018 9M 2019
Construction Machinery Mining Contracting Coal Mine Construction Industry Gold Mine
49,347 45,539
64,559
84,625
61,125
65,608
Net Revenue
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7,181
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(*): Profit after tax attributable to owners of the parent.
Financial Highlight
Expressed in billion Rupiah
Year 2015 2016 2017 2018 9M 2018 9M 2019
Exchange rate (Rp/US$) 13,795 13,436 13,548 14,481 14,929 14,174
Net Revenue 49,347 45,539 64,559 84,624 61,125 65,608
Gross Profit 11,702 9,661 14,484 21,110 15,079 16,213
Gross Profit Margin 23.7% 21.2% 22.4% 24.9% 24.7% 24.7%
Net Income* 3,853 5,002 7,403 11,126 9,072 8,639
Earning per Share (in full Rp) 1,033 1,341 1,985 2,983 2,432 2,316
Cash 15,413 19,461 20,831 13,438 28,615 15,978
Total Assets 61,715 63,991 82,262 116,281 107,579 119,338
Total Liabilities 22,465 21,369 34,724 59,230 53,100 60,327
Net Debt/Equity (gearing) ratio net surplus net surplus net surplus net surplus net surplus net surplus
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The Company launched UT CommandCenter. This facility developed as anoperational control to ensure andenhance customer satisfaction of UTproducts and services.
1 March 2019
Event Highlight
16 July 2019
The company launched the latest 20 tonclass Hydraulic Excavator, KomatsuPC210-10MO, designed to produce highproductivity, low production costs, andeasy maintenance.
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Projection
Company’s 2019 Outlook:
Komatsu sales volume outlook: 3,200 units; flat growth in parts and service;
2% growth in coal production (128 million tons); andslightly decrease in overburden removal (966 million bcm);
8.8 million tons of coal sales volume (21% is contributed by coal trading/ offtakes).
400,000 ounces of gold equivalent sales.
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Thank You
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only. It is not intended to specific person who may receive this report. The information in this report has been obtained from sources which we
deem reliable. No warranty (expressed or implied) is made to the accuracy or completeness of the information. All opinions and estimations
included in this report constitute our judgment as of this date and are subject to change without prior notice.
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accepts liability for any errors, omissions, negligent or otherwise, in this report and any inaccuracy herein or omission here from which might
otherwise arise.