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Aug 2018 PT INDUSTRI DAN PERDAGANGAN BINTRACO DHARMA Tbk 1H 2018 Results
Aug 2018
PT INDUSTRI DAN PERDAGANGANBINTRACO DHARMA Tbk
1H 2018 Results
ENGINEERING OUR FUTURE
This presentation has been prepared by PT Industri dan Perdagangan Bintraco Dharma Tbk, abbreviated as “Bintraco” or “Bintraco Dharma”, independently and is circulated for the purpose of general information only. It is not intended for the specific person who may receive this presentation. The information in this presentation has been obtained from sources which we deem reliable. No warranty (expressed or implied) is made as to the accuracy or completeness of the information. All opinions and estimations included in this presentation constitute our judgment as of this date and are subject to change without prior notice.
We disclaim any responsibility or liability whatsoever arising which may be brought or suffered by any person as a result of acting in reliance upon the whole or any part of the contents of this presentation and neither PT Industri dan Perdagangan Bintraco Dharma Tbk and/or its affiliated companies and/or their respective employees and/or agents accepts liability for any errors, omissions, negligent or otherwise, in this presentation and any inaccuracy herein or omission here from which might otherwise arise.
Cautionary note on forward-looking statements: This presentation may contain statements regarding the business of PT Industri dan Perdagangan Bintraco Dharma Tbk and its subsidiaries that are of a forward-looking nature and are therefore based on management's assumptions about future developments. Forward-looking statements involve certain risks and uncertainties because they relate to future events. Actual results may vary materially from those targeted, expected or projected due to several factors. Potential risks and uncertainties includes such factors as general economic conditions, foreign exchange fluctuations, interest rate changes, commodity price fluctuations and regulatory developments. The reader and/or listener is cautioned to not unduly rely on these forward-looking statements. We do not undertake any duty to publish any update or revision of any forward-looking statements.
Disclaimer
ENGINEERING OUR FUTURE 3
Disclaimer 2
1. Bintraco Dharma Highlights 4
2. Business Segments 8
3. Current Financial Updates 12
Table of Contents
ENGINEERING OUR FUTURE
31 Dec 2017 30 Jun 2018
Audited Unaudited %Change
Total Assets 8,217 9,080 10%
Total Equity 1,698 1,758 4%
Return on Assets 2.5% 3.2%
Return on Equity 11.9% 16.3%
in billions Rp 2017 1H17 1H18
(unless otherwise stated) Audited Unaudited Unaudited %YoY
Net Revenue 7,202 3,521 3,772 7%
Gross Profit 1,101 560 609 9%
%Gross Profit Margin 15.3% 15.9% 16.2%
Net Profit* 202 115 143 25%
%Net Profit Margin 2.8% 3.3% 3.8%
4
*Net Profit is Profit Attributable to ShareholdersSource : Consolidated Financial Statements PT Bintraco Dharma Tbk as of Jun 2018
1H18 Results• Company booked revenue 3.8tn in 1H18, growing 7% driven by automotive +6% and financing +16%.
• Gross Profit grew 9% with better margin, thanks to new Rush.
• Net Profit was booked 143bn with 25% growth, as a result of efficiency and improvement in automotive segment also income contribution from associate company.
Executive Summary
ENGINEERING OUR FUTURE 5
Business Structure and Effective Ownership
Bintraco Dharma
PT Andalan Finance Indonesia (96.0%)
PT Meka Adipratama(52.2%)
PT Meka Mekar Niaga(52.6%)
PT Graha Arta Kaltim Sentosa (98.9%)
PT Global Carfix Indonesia (52.2%)
PT New Ratna Motor (90.0%)PT Nasmoco (88.7%)
PT Chandra Pratama Motor (89.9%)PT Nasmoco Pratama Motor (89.9%)
PT Nasmoco Karangjati Motor (79.8%)PT Nasmoco Bahtera Motor (59.8%)PT Nasmoco Bahana Motor (53.8%)
Automotive Financing
PT Bahtera Multi Niaga (66.7%)PT Semarang Diamond Citra (65%)
PT Sumber Bahtera Mandiri (59.8%)PT Graha Bahana Mandiri (53.8%)
PT Gema Adipradana Indah (99.9%)PT Ulticar Oto Galeri (69.9%)PT Mitra Oto Prima (84.9%)
PT CARS WORLD Digital Indonesia (99.9%)
ENGINEERING OUR FUTURE 6
PT Bintraco Dharma Tbk
PT Graha Arta Kaltim Sentosa
PT New RatnaMotor
70%
0.11%
PT AhabeNiaga Selaras
Structure (before)
Structure (after)
Transaction PurposeThe purpose is to expand spare parts distribution area in order to strengthen network of Bintraco Dharma.
Transaction ValueTransaction value of acquisition of 949 shares GAKS from ANS amounted Rp29 billion in end of May 2018.
Profitability EffectBintraco Dharma will earn additional profit from GAKS distribution area.
Acquisition 949 shares of PT Graha Arta Kaltim Sentosa (GAKS) from PT Ahabe Niaga Selaras
PT MekaAdipratama
PT Ahabe Adhi Citra
99.89%
58%
27%
PT Bintraco Dharma Tbk
PT Graha Arta Kaltim Sentosa
PT New RatnaMotor
70%
0.11%
PT AhabeNiaga Selaras
PT MekaAdipratama
PT Ahabe Adhi Citra
99.89%
58%
27%
ENGINEERING OUR FUTURE 7
Structure Transaction PurposeThe purpose is to provide a medium to integrate company and affiliates in an integrated system to strengthen company’s value chain.
Transaction ValueInvestment Rp10 billion in 6 Jun 2018.
Establishment of PT CARSWORLD Digital Indonesia (CDI)
PT Bintraco Dharma Tbk
PT CARSWORLD Digital Indonesia
70%
PT New Ratna Motor
99.9%
0.1%
Section 2Business Segments
ENGINEERING OUR FUTURE
Toyota Share 2017 1H17 1H18
LCGC 37% 40% 43%
Low & Med MPV 55% 54% 42%
Med SUV 19% 20% 29%
Low & Med Hatchback 25% 22% 13%
Sedan + High SUV & Luxury Car 35% 34% 32%
Commercial 4% 3% 2%
Total 32% 32% 30%
Automotive Market Central Java & Yogyakarta
9
Wholesales Volume Growth Market Share per Segments
Source : Company Information
Market Share by Brands
Retail sales was relatively stagnant, yet still leading the market with 30% market share.
2017 1H17 1H18
33.4%
32.3% 36.5%
51.6%
51.3% 45.3%
4.2%
5.0% 8.1%
3.3%
3.7% 2.7%
5.2%
5.4% 5.5%
2.3%
2.3%1.8%
28,404
13,833 13,898
Total
Commercial
Sedan + High SUV & Luxury Car
Low & Med Hatchback
Med SUV
Low & Med MPV
LCGC
Competition 2017 1H17 1H18
Toyota 31.9% 31.2% 30.3%
Honda 21.0% 24.5% 18.4%
Daihatsu 18.3% 17.0% 17.6%
Mitsubishi 11.4% 11.0% 16.2%
Suzuki 9.9% 9.4% 9.6%
Others 7.6% 6.8% 7.9%
ENGINEERING OUR FUTURE
in billions Rp 2017 1H17 1H18
(unless otherwise stated) Audited Unaudited Unaudited %YoY
Sales Volume (thou. units) 28.4 13.8 13.9 0%
Net Revenue 6,128 3,006 3,172 6%
Gross Profit 724 364 408 12%
%Gross Profit Margin 11.8% 12.1% 12.9%
Net Profit* 168 99 118 19%
%Net Profit Margin 2.7% 3.3% 3.7%
Automotive Business: Performance Highlights
10
Revenue
*Net Profit is Profit Attributable to ShareholdersSource : Company Information
• Revenue growth of first half 2018 was driven by Calya and new Rush also after sales results.
• Better margin of 1H18 was because of higher contribution from new Rush higher margin.
• Net Profit increased due to efficiency in logistic operation which was started in March 2017, income from associate company, and higher income from commission and sales achievement.2017 1H17 1H18
82.9%
83.5% 80.7%
17.1%
16.5% 19.3%
6,128
3,006 3,172
Motor Vehicle Parts & Others Total
ENGINEERING OUR FUTURE
in billions Rp 2017 1H17 1H18
(unless otherwise stated) Audited Unaudited Unaudited %YoY
Financed Units* (thou. units) 84.2 84.6 92.5 9%
Net Revenue 1,070 607 702 16%
Expenses 947 524 636 21%
Non-Performing Financing 2.0% 2.0% 1.9%
Net Profit 92 63 47 -26%
%Net Profit Margin 8.6% 10.4% 6.7%
11
Revenue
Source : Company Information*Financed units is based on the outstanding financed units
• Revenue 1H18 grew inline with financing contracts growth.
• Non-performing financing was successfully managed below 2% level.
Financing Business: Performance Highlights
2017 1H17 1H18
1,070.2
607.5
701.7
Section 3Financial Summary
ENGINEERING OUR FUTURE
in billions Rp 2017 1H17 1H18
(unless otherwise stated) Audited Unaudited Unaudited %YoY
Net Revenue 7,202 3,521 3,772 7%
Gross Profit 1,101 560 609 9%
%Gross Profit Margin 15.3% 15.9% 16.2%
Net Profit* 202 115 143 25%
%Net Profit Margin 2.8% 3.3% 3.8%
13
Bintraco’s Profitability
Revenue
Amount is based on Consolidated Financial Statement PT Bintraco Dharma Tbk; % Contribution is calculated as % of sum of business segments before elimination
Source : Consolidated Financial Statements PT Bintraco Dharma Tbk
Gross Profit Net Profit*
Profitability Contribution as of Jun 2018(a)
• In 1H18, profit contribution from Automotive segment jumped to 71.5% because of solid profit improvement in Automotive segment in spite of intensive competition.
• Net Profit 1H18 grew mainly due to: 1) Higher automotive gross profit margin2) Efficiency in automotive logistic operation3) Higher incomes from associate company4) Higher other income from commission in automotive segment
84.2%
15.8%
Rp3,772 bn
66.9%
33.1%
Automotive Financing
Rp609 bn
71.5%
28.5%
Rp143 bn
ENGINEERING OUR FUTURE
31 Dec 2017 30 Jun 2018
Audited Unaudited %Change
Current Assets 6,886 7,610 10.5%
Non-Current Assets 1,331 1,470 10.4%
TOTAL ASSETS 8,217 9,080 10.5%
Current Liabilities 3,122 3,586 14.9%
Non-Current Liabilities 3,397 3,735 9.9%
TOTAL LIABILITIES 6,519 7,321 12.3%
TOTAL EQUITY 1,698 1,758 3.6%
Current Ratio 2.2 2.1
Liabilities-to-Equity 3.8 4.2
Return on Equity 11.9% 16.3%
Return on Assets 2.5% 3.2%
14
Bintraco’s Financial Position
Amount is based on Consolidated Financial Statement PT Bintraco Dharma Tbk; % Contribution is calculated as % of sum of business segments before elimination
Source : Consolidated Financial Statements PT Bintraco Dharma Tbk
• Total Assets per 30 Jun 2018 was booked 9.1tn, or 10.5% higher than end of 2017 inline with financing volume growth.
• Liabilities increased inline was due to new bank loans growth to support financing growth.
Financial Position Contribution as of Jun 2018(a)
14
Total Assets Total Liabilities Total Equity
30.1%24.1%
57.8%
69.9%
75.9%
42.2%
Rp9,080bnRp7,321bn
Rp1,758bn
Automotive Financing
PT Industri dan Perdagangan Bintraco Dharma Tbk
Jl. Sunburst CBD Lot II No. 3BSD City, Lengkong GudangSerpong, Tangerang Selatan, Banten, 15321
www.bintracodharma.com
