• Design Capacit y
: 89.7 mt
• Product ion Capacit y : 75.5 mit
• Domest ic Grow t h
: 5.5%
• Domest ic Ut ilizat ion: 87%
• Supply
3. Semen Bat uraja
2.0 mt
4. Indocement TP
25.9 mt
11. Semen Anhui Conch
1.7 mt
12. Siam Cement
1.8 mt
13. Semen Pan Asia
1.8 mt
TOTAL
89.7 mio ton
Source: Com pany dat a, Indonesia Cem ent Associat ion
Semen Indonesia’ sales volume
M illion tonnes
Nov-16
Nov-15
Change (%)
11M 16
11M 15
Change (%)
Indonesia
Sem en Indonesia
1.26
1.38
-8.9%
12.76
12.77
0.0%
Sem en Padang
0.56
0.67
-16.1%
5.75
5.84
-1.5%
Sem en Tonasa
0.48
0.56
-13.4%
4.99
4.93
1.1%
Total domestic
2.31
2.61
-11.7%
23.50
23.54
-0.2%
Exports
0.07
0.03
127.8%
0.55
0.45
22.6%
Total volume from Indonesia
2.37
2.64
-10.2%
24.05
23.99
0.3%
Vietnam
Dom est ic Vietnam
0.16
0.15
5.7%
1.66
1.44
15.2%
Exports
0.06
0.06
3.1%
0.67
0.69
-2.0%
Total volume from Vietnam
0.21
0.20
5.0%
2.33
2.12
9.7%
Source: Com pany dat a, Indonesia Cem ent Associat ion
SM GR sales volume (million tons)
Nov-16
Nov-15
Change (%)
11M 16
11M 15
Change (%)
Domestic
Indonesia domestic sales volume (million tons)
Area
Nov-16
Nov-15
Change (%)
11M 16
11M 15
Change (%)
Retail (resident ial) sector is t he largest consumer of cement
•
Ready-mix (infrast ruct ure):
±
60%
•
Fabricat or (pre-cast , fiber cement , cement based indust ry):
±
35%
•
Project s (mortar, render):
±
5%
•
Ready-mix (infrast ruct ure):
±
60%
•
Fabricat or (pre-cast , fiber cement , cement based indust ry):
±
35%
•
Project s (mortar, render):
±
5%
M arket by Geography
Source: Company dat a, Cent ral Bureau of St at ist ics, Indonesia Cement Associat ion Source: Company dat a, Cent ral Bureau of St at ist ics, Indonesia Cement Associat ion
Domestic M arket Share
Semen Indonesia’ market destinations
Current overcapacity condition
Source: Com pany dat a, Indonesian Cem ent Associat ion & BPS St at ist ic
Infrast ruct ure Spending Planned for 2015 – 2019
(USD Bn)
Infrastructure Development
Commercial and Industrial
High grow t h in retail, commercial and
inst it ut ional sector in urban and semi-urban area
High grow t h indust ry segment (precast , light brick,
cement fiber, pave, ready mixed concrete)
Housing
Key factors supporting domestic cement demand
172
42
The fourt h largest populat ion in t he world: 240
millions people (2014)
Demographic Bonus
Arising infrastructure activities
Strategic Projects
These st rategic project s are to ensure t he
Strategic Proj ects
Capacity
Investment
•
Packing Plant Pont ianak
Balance Sheet
Cash balance (Rpbn)
Total debt (Rpbn)
M argin & Returns
Ret urn on Equit y (%)
Ret urn on Asset s (%)
EBITDA margin vs utilisation rate
EBITDA margin vs oil and coal prices
Development New Industrial Estates is a catalyst for
cement demand
Semen Indonesia
Packing Plant
Infrastructure Projects (2015 – 2019)
If 1% from total project
value were spent for
cement , we est imate
cement requirement for
t hese project s of around
10-12 mt per annum.
Infrast ruct ure budget cut
Rp7t n for 2016, but not
affect ing main t rans road in
Papua and Java.
Infrastructure Spending in State Budget
Source: M inist ry of Finance
Amount in Rp trillion
2017
2015
Instrastructure funding is priority
The infrast ruct ure is t he
government ’ priorit y
Get s funding priorit y despite tax
revenue not achieving target
Key risks are more on t he project
risks such as land acquisit ion.
Increasing government ’ debt to
around US$137bn by end of 2015
BRIEF HISTORY
BRIEF HISTORY
SM GR CAPACITY BUILD-OUT (M M TONS)
SM GR CAPACITY BUILD-OUT (M M TONS)
31,8 mn tons
Semen Indonesia highlights
1957 : Inauguration of Gresik I, installed capacity of
250,000 ton cement per annum
1991 : Initial Public Offering, Market Cap.: IDR0.63tn,
resulting shareholding structure post IPO:
●
Government of Republic of Indonesia: 73%
●
Public: 27%
1995 : Acquisition of PT Semen Padang (Persero) and
PT Semen Tonasa (Persero)
1998 : Cemex became a strategic partner, Market Cap.:
IDR4.9tn
2006 : Blue Valley Holdings bought Cemex’s 24.9%
stake in SMGR, Market Cap.: IDR21.5tn
2010 : In March 31, Blue Valley Holdings sold all of its
stake ownership in SMGR, Market Cap per April 30,
2010: IDR72.1tn
2011 : Total installed capacity of 20.00mm tons, Market
Cap per June 29, 2012: IDR67.0tn
2012 : Acquisition of Thang Long Cement Vietnam, Total
installed capacity of 2.3mm tons, Market Cap Dec 19
th,
2012: IDR91.9tn
Semen Indonesia as strategic holding company
97,0%
PT SGG Energi Prim a
60,0%
PT Indust ri Kem asan
Sem en Gresik
50,0%
PT Krakat au Sem en
Indonesia
CEM ENT COM PANY
Komposisi Pemegang Saham Per 31
Desember 2015
2
Foreign Inst it ut ion
36.94
3
Foreign Individual
0.03
4
Domest ic Inst it ut ion
10.58
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 CONNECTION WITH 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 IN THIS PRESENTATION IS BEING PRESENTED TO YOU SOLELY FOR YOUR INFORMATION AND MAY NOT BE REPRODUCED OR REDISTRIBUTED TO ANY OTHER PERSON, IN WHOLE OR IN PART.
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
M ain Office:
M ain Building of Semen Gresik Jln. Veteran Gresik 61122 – Indonesia Phone: (62-31) 3981731 -2, 3981745 Fax: (62-31) 3983209, 3972264
Representative Office: The East Building, 18 floor
Jl. Lingkar M ega Kuningan Blok E 3.2 No. 1, JAKARTA – 12950
Telp.: 021 – 5261174, 5261175; Faks : 021 – 5261176
