2010-08 Management New

8/8/2019 2010-08 Management New

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MANAGEMENT PRESENTATION

A U G U S T 2 0 1 0

PT ADHI KARYA (Persero) Tbk.


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2


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3

1960

ADHI has become thelargest Indonesianconstruction companysince then.

19982001

Vision was changed with morefocus on Construction Service andentered EPC business.

PN Adhi Karya was established bynationalizing a former Dutch

company called Associatie N.V.

ADHI Go Public. Listedat JSX on 18 Mar 04;

Entering globalconstruction market.

2004

2006

New Vision, Mission, & Logowith taglineBeyondConstruction.

2007

ADHI won a prestigiousEPC project of PLTULampung.

Established asubsidiary, ADHI Oman, inMiddle East.

2008

Established two subsidiaries: Adhicon Persada and

Adhi MultiPower.

2009

ACPS, which has been patenteand used for the 1st time in tollroad construction (KANCI-

PEJAGAN toll road) inIndonesia.

ACPS

C O M PA N Y O V E R V I E W

Milestones


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Lines of Business

ADHIsGroup Members:

: Property

: Construction

: Construction

: Trading

: Property

4

Investment

Construction

E P C



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GCG AWARD

2009

Best Disclosure

& Transparency

From: IICD &

Business

Review

IMAC 2009

(Indonesias

Most Admired

Companies)

From: Frontier

Consulting

Group &BusinessWeek

ARA 2008

1st Rank

(Annual Report

Award)

From:

Bapepam-LK,

SOE Ministry,BI, IDX, Tax DG,

KNKG, IAI

Website Award

Best User

Interface

From: SOE

Ministry

CGPI 2009(Corporate

Governance

Perception Index)

From: IICG

IQA 2009

(Indonesia

Quality Award)

From: IQA

Foundation


Awards Received in 2009


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As of 30 June 2010

Government 51%

Foreign = 14%Local = 35%

Public 49%

# Shares Issued: 1.801.320.000# Shares Buy Back (as treasury stock): 44.094.500

Total Outstanding Shares1.757.225.500

Stock Ownership



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ADHI* 7%

Others 76.5%

JKON*** 2.5%

PTPP* 4%

WIKA* 3.5%

DGIK*** 1%

TOTL*** 1.5%

Source: Company.

WASKITA** 4%

Note:

* SOE Listed** SOE Not Listed

*** Private Listed

#Figures are based on construction services performance only

Construction Services Market Share#



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8

Toll Road Construction Share 2009

ADHI 30%

Others 70%

Source: Company. The Longest!with 46km of 152km


8



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3,027

4,329

4,974

6,640

7,715

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

2005 2006 2007 2008 2009

9

IDR bn

Revenue (2005-2009)




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310

403

457

544

655

7896 112 81

166

0

100

200

300

400

500

600

700

2005 2006 2007 2008 2009

10

IDR bn

Gross Profi t & Net Income (2005-2009)



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11

1. COMPANY OVERVIEW

2. 1H-2010 & F-10

3. ACPS: A COMPETITIVE ADVANTAGE

4. PROJECTS PORTFOLIO

1H 2010 & F 10


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IDR bn. FY - 2009 F - 2010 G

(audited) (target) %

Revenue 7.715 100 8.625 100 11,8

Cost of Contract (7.059) -91,5 (7.806) -90,5 10,6

Gross Profit After Joint Op. 752 9,7 908 10,5 20,8

Net Income 165 2,1 185 2,1 12,1

%%

1H-2010 & F-10

Income Statement Highlights

1H 2010 & F 10


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Income Statement

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1H-2010 & F-10

2009%

2010%

IDR mn1H 1H

Revenue 3.018.195 100% 1.861.402 100%

Cost of Contract (2.904.187) -96,2% (1.723.140) -92,6%

Gross Profit 114.008 3,8% 138.262 7,4%

Profit (Loss) JO 38.333 1,3% 28.718 1,5%

Gross Profit after JO 152.341 5,0% 166.980 9,0%

Operating Expense (92.727) -3,1% (91.816) -4,9%Operating Profit 59.614 2,0% 75.164 4,0%

Other Income (Expense) 58.705 1,9% 24.646 1,3%

E B I T 118.319 3,9% 99.810 5,4%

Interest Expense (51.150) -1,7% (45.941) -2,5%

E B T 67.168 2,2% 53.869 2,9%

Tax (37.611) -1,2% (36.209) -1,9%E A T 29.557 1,0% 17.660 0,9%

Minority Interest in Subsidiaries 12.788 0,4% 5.439 -0,3%

Net Income 42.345 1,4% 23.099 1,2%

1H 2010 & F 10


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Balance Sheets

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1H-2010 & F-10

2009%

2010%

IDR mn 1H 1HASSETS

Cash & Bank 195,698 3.7% 241,587 4.8%

Receivables 3,302,453 62.7% 3,086,358 61.4%

Inventory 544,822 10.3% 522,856 10.4%

Advance Payment 252,771 4.8% 268,554 5.3%

Other Current Assets 487,719 9.3% 485,398 9.6%

Current Asset 4,783,462 90.8% 4,604,753 91.5%

Investment in Associated Companies 61,948 1.2% 61,545 1.2%Fixed Asset - Net 143,975 2.7% 121,565 2.4%

Non Current Asset 276,797 5.3% 242,842 4.8%

TOTAL ASSETS 5,266,181 100% 5,030,705 100%

LIABILITIES

Account Payables 2,286,478 43.4% 1,733,282 34.5%

Contract Advances 689,131 13.1% 525,482 10.4%

Bank Loans & Bonds 1,165,275 22.1% 1,255,229 25.0%

Other Liabilities 506,995 9.6% 798,664 15.9%

Total Liabilities 4,647,879 88.3% 4,312,657 85.7%

Minority Interest in Subsidiaries 5,582 0.1% 5,202 0.1%

EQUITY 612,721 11.6% 712,846 14.2%

TOTAL LIABILITIES & EQUITY 5,266,181 100% 5,030,705 100%

1H 2010 & F 10


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1H-2010 & F-10

Q1 1H 9M FY

Revenue 2006 641,558 1,544,879 2,753,396 3,027,081

Revenue 2007 756,574 1,771,331 2,996,231 4,973,867

Revenue 2008 721,714 1,929,373 3,662,108 6,639,942

Revenue 2009 1,358,392 3,018,195 4,857,856 7,714,614

Revenue 2010 957,212 1,861,402 5,067,080 8,625,100

0

1,000,000

2,000,000

3,000,0004,000,000

5,000,000

6,000,000

7,000,000

8,000,000

9,000,000

10,000,000

ADHI Historical Revenue 2006-2009 QuarterlyIn IDR Million

1H 2010 & F 10


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Private 44%

Government& Related 56%

FY - 200 9

Private 35%

Government& Related 65%

F - 2010

Revenue Breakdown by Project Owner

16

1H-2010 & F-10

1H 2010 & F 10


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Revenue Breakdown by Type of Project

PrivateBuilding 20% Govt & Related

EPC 7%

Govt & Related

Infrastructure 30%

Govt & Related

Building 19%Private

Infrastructure 24%

PrivateBuilding 18%

PrivateInfrastructure 15%

Govt &

Related EPC 12%

Govt & Related

Infrastructure 31%

Govt & RelatedBuilding 22%

PrivateEPC 2%

1H-2010 & F-10

FY - 2009

F - 2010

1H-2010 & F-10


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182009 (Audited)

Total ContractSecured Incl. JO

14,760

Carry Over

From 2008

Non JO

7,103

JO: 1,676

Order Book

Non JO

4,338

TotalRevenue

Incl. JO9,010

Total

Revenue

7,715

New

Non JO

Secured

4,950JO: 1,295

JO: 1,031

Total OrderBook Incl. JO

5,750

Carry Overto 2010

2010 (Target)

Total ContractTarget Incl. JO

15,620

Carry OverFrom 2009

Non JO

4,338

Order Book

Non JO4,646

TotalRevenueIncl. JO9,765

Total

Revenue

8,625

JO: 1,140

JO: 1,412

Total OrderBook Incl. JO

5,855JO: 1,209JO: 937

CarryOver to

2011

JO: 1,412New

Contract

Target

Non JO

8,933

Order BookNote:JO: Joint OperationRevenue JO is not booked on IS, only profit (loss) from JO

NewContract

Target9,870

6,626

In IDR bn

1H-2010 & F-10

1H-2010 & F-10


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JO: 937

JO: 564

Non JO Secured

1,877

NewContract-10

Non JOTarget

8,933

New Contract2010 Secured

1,991JO: 114

Target New

Contract 2010

9,870

1H - 2010 F - 2010

New Contract Secured as of 1H10

In IDR bn

1H-2010 & F-10


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1. COMPANY OVERVIEW

2. 1H-2010 & F-10



ACPS: A COMPETITIVE ADVANTAGE


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ACPS Advantages

ACPS: A COMPETIT IVE ADVANTAGE

Why ACPS ?

Profitable

InvestmentFaster Construction

Period

Minimized IDC

Simple

Maintenance

Low Maintenance

Cost

High Performance

& Durability

Reasonable

Construction Cost



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More Chances Ahead

ACPS WinningToll Road Projects

With a New Innovation of Pavement System inIndonesia, ADHI has greater chances to win numbers of tollroad projects.

Ahead, ADHI aims to win several toll road projects inIndonesia.




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Pre-cast Concrete Plant Activities




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On-site Activities

24



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1. COMPANY OVERVIEW

2. 1H-2010 & F-10



PROJECTS PORTFOLIO


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2010 Sales Key DriversIn IDR bn

26

Name of Project

Contract

Value

Estimated

CompletionPLTU Lampung 2X100 MW (JO: ADHI 65% - JEPOE 35%) 1,809 Jun-12

Tilal Complex at Al Khuwair (ADHI Oman LLC) 969 Jul-10

Latumenten City 698 Jun-10

SOR Gede Bage, Bandung 451 Dec-11

Surabaya Sport Center 400 Jun-10

Tol Semarang - Bawen Pkt.1 374 Jun-10Tanah Abang Blok B 362 Jul-10

The Pakubuwono View 257 Jun-10

Kuningan City 256 Jul-11

Pavement Bandara Kuala Namu (JO) 248 Nov-10

Shadden al Hail (ADHI Oman LLC) 238 Jul-10

Main Stadium Riau (JO) 235 Dec-10

ME Kualanamu, Medan 196 Jul-10PLTU Jabar Pelabuhan Ratu Paket 2 & 3 144 Dec-10

Bojonegoro Barage 134 Mar-12


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