PowerPoint Presentation · Power Generation 30.6 MW 49.3 Q4-2014 Q4-2016 2Q17. Untuk Kualitas,...

May 2017

2

think about the

ENVIRONMENT

Laporan Capex Juli 2014.pptx

3Untuk Kualitas, Untuk Bumi, Untuk Indonesia

• Design Capacity : 106.3 mt

• Production Capacity : 74.0 mit

• Domestic Growth : 5.0%

• Domestic Utilization: 70%

•Supply

Domestic : 69 mt

Export : 5 mt

Import : 3 mt

Domestic Capacity (2017)

2017F

Cement companies in Indonesia

1. Semen Indonesia 35.5 mt

2. Indocement TP 24.9 mt

3. Lafarge Holcim Indonesia 14.5 mt

4. Semen Merah Putih 7.5 mt

5. Semen Bosowa 7.0 mt

6. Semen Anhui Conch 4.5 mt

7. Semen Baturaja 3.8 mt

8. Semen Pan Asia 1.9 mt

9. Siam Cement Group 1.8 mt

10. Semen Jui Shin 1.5 mt

11. Semen Serang (Haohan) 1.2 mt

12. Semen Jakarta 1.0 mt

13. Semen Hippo (Sun Fook) 0.6 mt

14. Semen Kupang 0.3 mt

15. Semen Puger 0.3 mt

TOTAL 106,3 mio ton

*) Source: SMGR intemal calculation


Opportunity Regional Cement Market


Supply-Demand Cement in Asia Pacific

2017E (mtpa)

Design Cap. Production Cap. ConsumptionExport

(Import)

China 3794,4 2390,6 2380,5 10,1

India 396 313,7 311,7 2

Indonesia 106,3 74 69 5

Vietnam 91,5 74,6 57,5 17,1

South Korea

71,6 53,1 50,2 2,9

Thailand 60,5 36,4 31,3 5,1

Pakistan 48 39,7 30,8 8,9

Malaysia 41,3 23,6 22,9 0,7

Philippines 34,2 26 26,5 -0,5

Australia 13,2 8,7 9,5 -0,8

Myanmar 10,5 8 9,8 -1,8

Laos 10 6 3,3 2,7

Source : Global cement, Bloomberg, Digital Cement


Source: Company data, Indonesia Cement Association

Semen Indonesia’ sales volume

Apr-17 Apr-16 Chg (%) 4M17 4M16 Chg (%)

Indonesia

Semen Gresik 1,24 1,09 14,4% 4,71 4,21 12,0%

Semen Padang 0,50 0,47 6,8% 1,86 1,96 -4,8%

Semen Tonasa 0,40 0,42 -2,6% 1,69 1,73 -2,8%

Total Domestic 2,15 1,97 9,0% 8,26 7,90 4,6%

Export 0,12 0,04 193,2% 0,39 0,10 308,1%

Total Volume from Indonesia 2,27 2,01 12,7% 8,65 8,00 8,2%

Vietnam

Domestic Vietnam 0,17 0,18 -1,1% 0,58 0,48 21,5%

Export 0,04 0,08 -45,0% 0,28 0,32 -10,3%

Total Volume from Vietnam 0,22 0,26 -14,8% 0,87 0,80 8,8%

Total Volume 2,48 2,27 9,6% 9,52 8,79 8,3%

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500.000

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1.000.000

Jan

-05

Sep

-05

May

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Jan

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Sep

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-10

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-11

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-16

Jan

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SMGR's Domestic ASP

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500.000

1.000.000

1.500.000

2.000.000

2.500.000

3.000.000

SMGR’s Domestic Sales Vol.



Indonesia cement sales volumeSMGR Sales Type

4M17 4M16 Chg (%)

Bag 6,22 6,10 1,9%

Bulk 2,04 1,80 13,6%

Industry Sales Type

4M17 4M16 Chg (%)

Bag 15,21 14,90 2,1%

Bulk 4,61 4,34 6,2%

SMGR sales volume (million tons)

Apr-17 Apr-16 Chg (%) 4M17 4M16 Chg (%)

Domestic

Semen Gresik 1,24 1,09 14,4% 4,71 4,21 12,0%

Semen Padang 0,50 0,47 6,8% 1,86 1,96 -4,8%

Semen Tonasa 0,40 0,42 -2,6% 1,69 1,73 -2,8%

Total Domestic 2,15 1,97 9,0% 8,26 7,90 4,6%

Export 0,12 0,04 193,2% 0,39 0,10 308,1%

Total Volume 2,27 2,01 12,7% 8,65 8,00 8,2%

Market Share 42,4% 43,4% 41,7% 41,2%

Indonesia Domestic Sales Volume (million tons)

AREA Apr-17 Apr-16 Chg (%) 4M17 4M16 Chg (%)

JAKARTA 0,38 0,39 -0,9% 1,53 1,59 -3,7%BANTEN 0,25 0,23 10,2% 0,97 0,97 0,2%WEST JAVA 0,72 0,66 9,2% 2,80 2,75 1,9%CENTRAL JAVA 0,67 0,55 23,0% 2,52 2,21 14,0%YOGYAKARTA 0,09 0,06 46,0% 0,34 0,28 19,1%EAST JAVA 0,77 0,62 24,9% 3,01 2,61 15,2%TOTAL JAVA 2,89 2,50 15,6% 11,17 10,41 7,3%SUMATRA 1,06 0,94 13,0% 4,13 4,11 0,5%KALIMANTAN 0,32 0,32 -2,3% 1,24 1,35 -8,1%SULAWESI 0,43 0,40 6,1% 1,63 1,70 -4,0%NUSA TENGGARA 0,28 0,25 10,6% 1,15 1,09 5,6%MALUKU & IRIAN J. 0,10 0,13 -24,8% 0,50 0,51 -0,4%TOTAL OUTSIDE JAVA 2,18 2,04 6,5% 8,65 8,75 -1,1%TOTAL INDONESIA 5,06 4,54 11,5% 19,82 19,16 3,4%

ExportEXPORT SEMEN 0,07 0,04 68,5% 0,32 0,10 230,9%EXPORT CLINKER 0,16 0,06 162,9% 0,28 0,22 30,8%TOTAL EXPORT 0,22 0,10 124,7% 0,60 0,31 92,5%GRAND TOTAL 5,29 4,64 13,9% 20,42 19,47 4,8%


Retail (residential) sector is the largest consumer of cement in Indonesia

Bag76.8%

Bulk

23.2%

• Ready-mix (infrastructure):± 60%

• Fabricator (pre-cast, fiber cement, cement based industry):± 35%

• Projects (mortar, render):± 5%

• Housing:± 90%

• Cement based industry:± 10%

±

±

Source: Internal Research

Domestic market consumption


Market by Geography

Domestic Market ShareSemen Indonesia’ market destinations

National cement distribution Population distribution

Sumatera19%

Jawa47%

Kalimantan6%

Sulawesi12%

Bali & NT4%

East Indonesia

3%Vietnam

6%

Exports3%


Sumatera 43%

Jawa 37% Kalimantan 43%

Sulawesi 62%

Bali & NT 37%

East Indonesia

56%

Indonesia market share 41.3%

10

Infrastructure Spending Planned for 2015 – 2019 (USD Bn)

INFRASTRUCTURE DEVELOPMENT

COMMERCIAL & INDUSTRIAL

High growth in retail, commercial and

institutional sector in urban and semi-urban area

High growth industry segment (precast, light brick,

cement fiber, pave, ready mixed concrete)

HOUSING

Population Growth

Rising per Capita Income

Mass urbanization

CEMENT CONSUMPTION 2016 (KG/CAPITA)

Rapidly Growing Productive Population

Key Factors Supporting Domestic Cement Consumption

172 42106

113 433

CentralGovt

RegionalGovt

SOEs Private Total

POTENTIAL MARKET

The fourth largest population in the world: 258

millions people (2015)

DEMOGRAPHIC BONUS

1648

1000763

617458 399 262 248 244 163

0

500

1000

1500

2000

Cement Consumption per Capita (kg)

average (ex china) = 459kg

11

Strategic Projects

These strategic projects are to ensure the Company’ position as the market leader.

Strategic Projects CapacityInvestment

(US$mn)

Construction Start up commercial

Start Completion

Indarung VI-

Sumatera Barat

3.0

Mt352 Q2-2013 Q4-2016 Mid 17

Rembang –

Jawa Tengah

3.0

Mt403 Q2-2013 Q4-2016 Mid 17

Grinding mill

Jawa Barat

2.0

Mt61.1 Q2-2015 Q4-2016 2Q17

Waste Heat Recovery

Power Generation30.6 MW 49.3 Q4-2014 Q4-2016 2Q17


Integrated Cement Plant 4 location

Kiln 15 Unit

Cement Mill 26 Unit

Grinding Plant 2 location

Cement Mill 4 Unit

Warehouse 30 location

Packing Plant 24 location

Sea Port 12 location

Kiln 1 unit

Cement Mill1 unit

Kiln 5 unit

Cement Mill 8 unit

Kiln 5 unit

Cement Mill 11 unit

Grinding Plant

1 unit Cement Mill

Kiln 4 unit

Cement Mill 6 unitGrinding Plant

3 unit Cement Mill

Our facilities


think about the

ENVIRONMENT



Financial Summary – First Quarter 2017

EBITDA

Net profit

In Rpbn 3M17 3M16 Change

Revenue 6,399 6,021 6.3%

Cost revenue 4,456 3,596 23.9%

Gross profit 1,943 2,425 -19.9%

Operating expenses 999 1,168 -14.5%

Operating income 944 1,257 -24.9%

EBITDA 1,464 1,683 -13.0%

Pre-tax profit 876 1,243 -29.6%

Net profit after minority 747 1,034 -27.8%

EPS (Rp) 126 174 -27.8%

Ratio

EBITDA margin 22.9% 28.0% -5.1%

Gross margin 30% 40% -10%

Interest coverage - x 15 20 (4)

Cost ratio 85% 79% 6%

Net debt to equity 0.12 (0.01) 13%

Debt to equity 0.23 0.14 9%

Debt to EBITDA 1.08 0.57 51%

Receivable turnover - days 57 51 6

-

5

10

15

20

25

30

35

40

-

2.000

4.000

6.000

8.000

10.000

20

06

20

07

20

08

20

09

20

10

20

11

20

12

20

13

20

14

20

15

20

16

3M1

7

%

Rp

bn

EBITDA EBITDA margin (R)


Balance Sheet

Cash balance (Rpbn) Total debt (Rpbn)

Debt/EBITDA (x) Net Debt/Equity


Margin & Returns

Return on Equity (%) Return on Assets (%)

EBITDA/t (US$/t) Receivables Turnover (days)


Cost structure

Energy prices in US$/unit

Cash COGS Rp000/t

Rp000/t 3M17 3M16 Change

Raw materials 33 38 -12%

Fuel 115 104 10%

Electricity 101 100 1%

Labor 54 59 -8%

Maintenance 53 57 -6%

Depreciation 60 53 13%

GA,tax,insurance 20 20 -2%

Packaging 27 28 -5%

Transportation 65 78 -17%

Others 95 11 780%

Cost of goods sold 623 549 14%

Unit cash COGS (US$/t) 563 495 14%

Selling expense 72 105 -31%

G&A 74 77 -4%

Total cost 770 730 5%


think about the

ENVIRONMENT



3+1 as a STRATEGY FRAMEWORK of Semen Indonesia

Construction Material Adjacent Portfolio Regional Expansion

Cost TransformationSupply Chain Optimization, Operational Efficiency, Corporate Service Cost Transformation

System and StructureBusiness Process Management, ICT, Organization Structure, Capital Structure

People and CultureTalent Management, Development Program, CHAMPS

To be A Leading International Cement Companyin Southeast Asia

Commercial Excellence

Active Channel Management, Customer Relation Management, Brand Management

• Importing Countries

• Exporting Countries

• Retaliate

• Building Material

• Property

• Logistic

• Energy

• Mining

• Packaging

• Investment

(Cement, aggregate,

Ready Mixed, Precast etc)

• Capacity Management

• Quality Management

• Green Management


Value Chain Semen Indonesia

UP STREAM MID STREAM DOWN STREAM

Raw Material Mining UTSG

Coal Trading SGG EP

Packaging IKSG

Clinker&

Semen

SG, SP, ST,

TLCC

CONSTRUCTION MATERIAL

SI Beton, VUB

Blast Furnace Slag (GGBFS)

KSI

BUILDING MATERIAL

SUPPORTING

Logistic & DistributionVU, WA,

VULS, VUDS, VUBA, KWSG

Construction & Fabrication

SwadayaGraha

Information Technology SISI

Labor Supply & TravelSwabina

GatraIndustrial Estate KIG

Ready Mixed Concrete

Precast

Cement Based

Non Cement Based

Aggregate

Trading SII

Cement Based MORTAR, FIBER CEMENT, BOARD


IMPORTANT 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 CONNECTIONWITH ANY CONTRACT, COMMITMENT OR INVESTMENT DECISION WHATSOEVER.

THE SLIDES USED IN THIS PRESENTATION ARE STRICTLY CONFIDENTIAL AND HAVE BEEN PREPARED AS A SUPPORT FOR ORAL DISCUSSIONS ONLY. THE INFORMATION CONTAINED INTHIS PRESENTATION IS BEING PRESENTED TO YOU SOLELY FOR YOUR INFORMATION AND MAY NOT BE REPRODUCED OR REDISTRIBUTED TO ANY OTHER PERSON, IN WHOLE OR INPART.

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.

Thank You

Main Office:

Main Building of Semen GresikJln. Veteran Gresik 61122 – IndonesiaPhone: (62-31) 3981731 -2, 3981745

Fax: (62-31) 3983209, 3972264

Representative Office:

The East Building, 18 floorJl. Lingkar Mega Kuningan Blok E 3.2 No. 1,JAKARTA – 12950Telp.: 021 – 5261174, 5261175; Faks : 021 – 5261176

www.semenindonesia.com

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