Corporate Presentation Apr 2019semenindonesia.com/wp-content/uploads/2020/02/2019-04... ·...
Transcript of Corporate Presentation Apr 2019semenindonesia.com/wp-content/uploads/2020/02/2019-04... ·...
Inbound MaterialsClinker & Cement
ProductionTransportation Distribution
Downstream
BusinessOthers
UTSG
• Mining Contractors
(limestone & clay)
IKSG
• Packaging from kraft &
woven , especially for
cement packaging
KSI
• GBFS
• GGBFS
SG,ST,SP, SBI*
• Clinker and Cement
production in Indonesia
SILOG
• Sea & Land Transportation
• Loading & Unloading
• Port Management
• Cement distribution,
• Other building
material distribution
SII
• Cement & clinker
trading
SIB, SBB**
• Ready Mix
• Precast
SMI
• Property
• Building management
• Preparation of cement
raw material mining.
SIIB
• Investment
management (SBI)
KIG
• Industrial estate
SISI
• IT servicesTLCC
• Clinker & cemen production
in Vietnam
Notes:
* Subsidiary under SIIB,
** Subsidiary under SBI
Experienced Board of ManagementPRESIDENT DIRECTOR
HENDI PRIO SANTOSO
Born in Jakarta, February 5, 1967
Double Major: Bachelor of Business Administration in University of Houston and Economics in University of Texas, USA
Career History:• Director of Investment Banking at JP Morgan Securities
Indonesia (2004-2007)• Director of Finance at PT PGN (Persero) Tbk (2007-
2008)
• President Director of PT PGN (Persero) Tbk (2008-2017)
DIRECTOR OF MARKETING AND SUPPLY CHAIN
ADI MUNANDIR
Born in Sukabumi, July 10, 1981
Bachelor in Electrical Power Engineering from Universitas Indonesia
Master in Strategic Management from Universitas Indonesia
Career History:
• President Commissioner at PT Solusi EnergyNusantara• Commissioner at PT Nusantara Regas• Executive Officer - Strategic Management Office PT PGN (2013-2015)• Head of Strategic Management Division at PT PGN (Persero) Tbk
(2015-2016)• Head of Marketing at PT PGN (Persero) Tbk (2016- 2017)
DIRECTOR OF HR AND LEGAL
AGUNG YUNANTO, Born in Bandung, May 7, 1962. Graduated from S1 in ITB and Master of Management at IMI & Monash University
Career History:• President Commissioner of PT Jasa Marga Surabaya in 2013-
2017• General Manager of Human Capital PT Wijaya Karya Beton
period 2014-2017.
DIRECTOR OF PRODUCTION
BENNY WENDRY
Born in Padang, May 1, 1969
Bachelor in Chemical Engineering from Institut Teknologi Bandung
Master in Management from Universitas Gadjah Mada
CareerHistory:
• Commercial Director at PT Semen Padang (2011- 2014)• Finance Director at PT Semen Padang (2014)• President Director at PT Semen Padang (2014-2017)
DIRECTOR OF FINANCE
DODDY SULASMONO DINIAWAN
Born on February 27, 1967
Bachelor in Management Economics from Universitas KatolikParahyangan
Master of Financial Management from Universitas Padjadjaran
CareerHistory:
• Executive Vice President – Division Head of Corporate Business Risk of PT BNI (Persero) Tbk. (2015-2016).
• Executive Vice President – CEO Jakarta Kota Region Office PT BNI (Persero) Tbk.(2016)
• Director of Finance And Human ResourcesPTRekayasa Industri (2016-2017)
• Director of Business Strategy and Business
Development of PT Semen Indonesia (Persero) Tbk. (2017-2018)
DIRECTOR OF ENGINEERING AND PROJECT
TRI ABDISATRIJO
Born in Situbondo, September 05, 1967
Bachelor in Chemical Engineering from Institut Teknologi SepuluhNopember
Career History:
• GM of Project Specialist OOTC at PT Semen Indonesia (Persero) Tbk (2013-2014)
• GM of Energy, Materials and Environment at PTSemenIndonesia (Persero) Tbk (2014)
• Commercial Director at PT Semen Tonasa (2014-2017)
DIRECTOR OF STRATEGIC BUSINESS AND ENTERPRISE DEVELOPMENT
FADJAR JUDISIAWAN
Born in Surabaya, May 09. 1971
Bachelor in Industrial Engineering from Institut Teknologi SepuluhNopember
Master in Management from Universitas Gadjah Mada
Career History:
• Assistant Deputy for Construction Services of the Ministry of SOEs (2014-2015)
• Assistant Deputy of Construction Business, Transportation Facilities and Infrastructure of the Ministry of SOE (2015-2017)
• Deputy of Construction Business, TransportationFacilities and Infrastructure of the Ministryof SOE (2017)
• Finance Director at PT Semen Indonesia (Persero)Tbk (2017-2018)
1
Installed Capacity
2018
35.5 Semen Indonesia
25.5 Indocement
15.5 Solusi Bangun Indonesia (ex-Holcim)
8.7 Conch Cement Indonesia
7.7 Semen Merah Putih (Cemindo Gemilang)
7.4 Semen Bosowa
3.9 Semen Baturaja
1.8 Semen Garuda (Jui Shin Indonesia)
1.8 Semen Jawa (Siam Cement Group)
1.8 Semen Bima (PT STAR)
0.4 Semen Kupang
3.1 Others (non ASI members)
Indonesia Cement Players
Design Capacity
111.1 MT (2018)
113.1 MT (2019)
Production Volume
75.1 MT (2018)
Domestic Growth
4.80%
Domestic Utilization
70%* Domestic: 69.5 MT Export: 5.6 MT
*Based on Indonesia Cement Association recorded national capacity and production volume 2018
Total 2019:
113.1 Mio Ton
Indonesia Cement Market
BAG
73%
BULK
27%
86114
146
184 178
290317
388410 415
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Infrastructure Budget
18.9 21.5 24.6 25.3 26.2 27.5 28.9 30.5
26.530.3 32.6 33.7 34.5 33.4 37.4 39.0
21.94.6%
17.6%
14.4%
5.5%3.5% 3.5%
28.2-0.6%
7.6%
4.8%
2010 2011 2012 2014 2015 2017 20182013
OutsideJava Java
2016
Growth
CAGR: 6.6%
source: Indonesia CementAssociationsource: Indonesia CementAssociation
source: Indonesia CementAssociation
source: Indonesia CementAssociation
Bag cement still represent the largest portion of Indonesia cement consumption
YTD April 2019
Domestic Sales in Java
vs Outside of Java
73.53%
26.47%
BAG
BULK
32.8 34.239.2
44.1 45.7 46.9 47.5 46.8 49.4 50.8
11.5
6.2 6.6
8.810.8 12.2 13 14.5 14.8
16.9 18.8
4.1
-5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
40.0%
0
10
20
30
40
50
60
70
80
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 1Q '19
Cement demand growth was dominated by the growth of bulk cement
to support infrastructure projects
Bag Vol Bulk Vol Growth Bag Growth Bulk Bulk Portion
CAGR Bulk: 13.1%
CAGR Bag: 5%
Market by Geography up to April 2019
SMGR MS
42,6%
WEST JAVA,
DKI JAKARTA,
BANTEN
CENTRAL JAVA
EAST JAVA
SMGR MS
45.6%
SMGR MS
35.9%
SMGR MS
58.8%
21.7% of total
national
demand
2.6% of total
national
demand
8.4% of total
national
demand
27.5% of total
national
demand
14 .7% of total
national demand
5.9% of total
national
demand 13.4% of total
national
demand
6.8% of total
national
demand
SMGR MS
62.8%
SMGR MS
35.9%
SMGR MS
60.7%
SMGR MS
77.8%
SMGR MS
39.0%
39,4%
25,5%
15,4%
4,8%3,5% 3,1% 3,1%
1,9% 1,9%1,% 0,3%
SMGR INTP SBI Conch Bosowa MerahPutih
BaturajaJui Shin SiamCement
STAR SemenKupang
Market Share
SMIG as the Market Leader in Indonesia
Pre-ConsolidationFY 2018
source: Indonesia Cement Association
SMIG
Post-ConsolidationUp to March 2019
53.7%
26.2%
5.5%3.7% 2.8% 2.9% 2.2% 1.8% 1.0% 0.3% 0.3%
SMGR(SMIG +
SBI)
INTP Conch Bosowa MerahPutih
Baturaja Jui Shin SiamCement
STAR SemenKupang
SemenKupang
Market Share
Sales Volume April 2019
Semen Indonesia Group Sales Volume Industry
2019 2018 Chg YoY (%) 2019 2018 Chg YoY (%) 2019 2018 Chg YoY (%)
Semen Indonesia
Domestic 1,974,341 2,067,506 -4.51% 1,801,315 2,114,578 -14.81% 7,778,261 8,307,133 -6.37%
Export 245,344 288,845 -15.06% 293,140 279,945 4.71% 1,050,175 944,955 11.13%
2,219,686 2,356,351 -5.80% 2,094,455 2,394,523 -12.53% 8,828,436 9,252,088 -4.58%
TLCC
Domestic 131,508 146,538 -10.26% 117,301 179,050 -34.49% 369,548 537,171 -31.20%
Export 2,033 56,791 -96.42% 87,300 91,149 -4.22% 240,449 327,153 -26.50%
133,541 203,329 -34.32% 204,601 270,199 -24.28% 609,997 864,323 -29.42%
Total Group (SMGR) 2,353,227 2,559,680 -8.07% 2,299,056 2,664,722 -13.72% 9,438,433 10,116,411 -6.70%
SBI (ex-Holcim)
Domestic 776,001 795,206 -2.42% 714,806 796,857 -10.30% 3,160,987 3,146,449 0.46%
Export 32,145 - 0.00% 32,145 116,773 -72.47% 140,416 220,514 -36.32%
808,146 795,206 1.63% 746,951 913,630 -18.24% 3,301,403 3,366,963 -1.95%
SMGR + SBI 3,161,373 2,559,680 23.51% 3,046,007 2,664,722 14.31% 11,798,468 10,116,411 16.63%
*Indented numbers in orange tables are SBI numbers before the acquisition by SMIG thus not included in SMIG consolidated numbers
Total SMGR + SBI Year to Date exclude SBI January 2019 sales volume
APRILMARCH Year to Date 2019 2018 + (%) 2019 2018 + (%) 2019 2018 + (%)
JAKARTA 336,363 400,467 -16.01% 305,986 387,027 -20.94% 1,345,821 1,600,516 -15.91%
BANTEN 269,064 249,281 7.94% 265,279 281,006 -5.60% 1,069,944 1,044,094 2.48%
WEST JAVA 824,942 761,999 8.26% 761,160 771,142 -1.29% 3,230,471 3,053,956 5.78%
CENTRAL JAVA 597,674 717,968 -16.75% 619,438 754,882 -17.94% 2,504,570 2,854,360 -12.25%
YOGYAKARTA 138,971 80,686 72.24% 140,131 88,772 57.85% 527,335 334,905 57.46%
EAST JAVA 674,999 727,523 -7.22% 625,598 743,899 -15.90% 2,739,885 2,926,035 -6.36%
TOTAL JAVA 2,842,012 2,937,925 -3.26% 2,717,591 3,026,728 -10.21% 11,418,026 11,813,865 -3.35%
SUMATRA 1,042,230 1,156,632 -9.89% 1,002,668 1,153,076 -13.04% 4,261,936 4,586,597 -7.08%
KALIMANTAN 355,122 334,500 6.16% 313,506 340,520 -7.93% 1,384,771 1,369,425 1.12%
SULAWESI 464,926 406,794 14.29% 390,719 428,691 -8.86% 1,726,550 1,700,136 1.55%
NUSA TENGGARA 323,918 253,682 27.69% 289,677 284,996 1.64% 1,206,912 1,078,069 11.95%
INDONESIA TIMUR 138,004 115,319 19.67% 102,202 103,479 -1.23% 531,260 511,261 3.91%
TOTAL INDONESIA 5,166,212 5,204,852 -0.74% 4,816,363 5,337,491 -9.76% 20,529,455 21,059,353 -2.52%
EXPORT SEMEN 111,065 70,512 57.51% 115,052 121,917 -5.63% 475,207 330,985 43.57%
EXPORT KLINKER 454,877 218,333 108.34% 543,441 472,410 15.04% 1,418,043 964,971 46.95%
TOTAL EXPORT 565,942 288,845 95.93% 658,493 594,327 10.80% 1,893,250 1,295,956 46.09%
GRAND TOTAL 5,732,154 5,493,697 4.34% 5,474,856 5,931,817 -7.70% 22,422,705 22,355,309 0.30%
AREAMARCH YEAR TO DATEAPRIL
Source: Internal SMIG
TUBAN PLANT
Cap SI: 14,7 Mt/Yr
Cap LHI : 3,6 Mt/Yr
Port : 40.000 DWT
INDARUNG PLANT
Cap : 9,4 Mt/Yr
GP Dumai
GP Gresik
PP Lhoksumawe
PP Malahayati
PP Batam
Tl Bayur Port
PP Lampung
PP Pontianak
PP Samarinda
PP Banjarmasin
PP Balikpapan
PP Bitung
PP Palu
PP Mamuju
Biringkassi Port
PP Makassar
PP Kendari
PP Sorong
PP Ambon
PP Banyuwangi
PP Celukan Bawang
PANGKEP PLANT
Cap : 7,4 Mt/Yr
PP Belawan
PP Tj Priok
PP Ciwandan SP
PP Ciwandan SI
PP Maluku Utara
GP Ciwandan
PP Bengkulu
REMBANG
PLANT
Cap : 3 Mt/Yr
LHOKNGA PLANT
Cap : 1,8 Mt/Yr
NAROGONG PLANT
Cap : 6 Mt/Yr
CILACAP PLANT
Cap : 3,4 Mt/Yr
PP Lhoksumawe
PP Belawan
PP Pontianak
PP Dumai
PP Batam
GP Kuala Indah
PP Lampung
GP Cigading
The Integration of Solusi Bangunan Indonesia (SBI)
SMGR Performance Overview – 1Q’191Q 2019 1Q 2018 Chg YoY
(a) (b) (a:b)
Revenue 6,618 6,618 0.0%
Cost of Revenue 5,913 4,901 20.7%
Gross Profit 704 1,717 -59.0%
Operating Expense 1,122 970 15.7%
Operating Income (417) 747 -155.9%
EBITDA 1,611 1,193 35.1%
Finance Income (Cost) 1,611 1,193 35.1%
Profit Before Tax 454 560 -18.9%
Net Profit Attributable to Owners of Parent Entity 268 412 -34.9%
Margin
Gross Profit Margin 10.6% 25.9% -15.3%
Operating Profit Margin -6.3% 11.3% -17.6%
EBITDA Margin 24.4% 18.0% 6.3%
Net Profit Margin 4.1% 6.2% -2.2%
Ratios
ROE 2.9% 5.4% -2.5%
Net Debt to Equity 76.1% 20.2% 55.9%
Debt to EBITDA (x) 4.6 2.2 108.1%
EBITDA/Interest (x) 2.3 5.2 -56.5%
Rp Billion
Thank YouIMPORTANT NOTICE
THIS PRESENTATION IS NOT AND DOES NOT CONSTITUTE OR FORM PART OF, AND IS NOT MADE IN CONNECTION WITH, ANY
OFFER FOR SALE OR SUBSCRIPTION OF OR SOLICITATION, RECOMMENDATION OR INVITATION OF ANY OFFER TO BUY OR
SUBSCRIBE FOR ANY SECURITIES NOR SHALL IT OR ANY PART OF IT FORM THE BASIS OF OR BE RELIED ON IN CONNECTION
WITH ANY CONTRACT, COMMITMENT OR INVESTMENT DECISION WHATSOEVER.
THE SLIDES USED IN THIS PRESENTATION HAVE BEEN PREPARED AS A SUPPORT FOR ORAL DISCUSSIONS ONLY..
This presentation includes forward-looking statements, which are based on current expectations and forecast about future events. Such
statements involve known / unknown risks uncertainties and other factors, which could cause actual results to differ materially from historical
results or those anticipated. Such factors include, among others:
● economic, social and political conditions in Indonesia, and the impact such conditions have on construction and infrastructure spending in
Indonesia;
● the effects of competition;
● the effects of changes in laws, regulations, taxation or accounting standards or practices;
● acquisitions, divestitures and various business opportunities that we may pursue;
● changes or volatility in inflation, interest rates and foreign exchange rates;
● accidents, natural disasters or outbreaks of infectious diseases, such as avian influenza, in our markets;
● labor unrest or other similar situations; and
● the outcome of pending or threatened litigation.
We can give no assurance that our expectations will be attained.
DISCLAIMER
The information contained in this report has been taken from sources which we deem reliable. However, none of PT Semen Indonesia
(Persero) Tbk and/or its affiliated companies and/or their respective employees and/or agents make any representation or warranty
(express or implied) or accepts any responsibility or liability as to, or in relation to, the accuracy or completeness of the information and
opinions contained in this report or as to any information contained in this report or any other such information or opinions remaining
unchanged after the issue thereof.
We expressly disclaim any responsibility or liability (express or implied) of PT Semen Indonesia (Persero) Tbk, its affiliated companies and
their respective employees and agents whatsoever and howsoever arising (including, without limitation for any claim, proceedings, action,
suits, losses, expenses, damages or costs) which may be brought against or suffered by any person as a result of acting in reliance upon
the whole or any part of the contents of this report and neither PT Semen Indonesia (Persero) Tbk, its affiliated companies or their
respective employees or agents accepts liability for any errors, omission or mis-statements, negligent or otherwise, in the report and any
liability in respect of the report or any inaccuracy therein or omission therefrom which might otherwise arise is hereby expresses
disclaimed.