FY14
Analyst
Meeting
PT
Elnusa
Tbk
Company
Structure
PT
Pertamina
(Persero)
41.10%
Dana
Pensiun
Pertamina
17.80%
Publik
41.10%
PT
Elnusa
Tbk
EFK
97.35%
PND
70.00%
SCU
99.99%
EPN
99.93%
ETSA
90.00%
EFK
:
Elnusa
Fabrikasi
Konstruksi
PND
:
Patra
Nusa
Data
SCU
:
Sigma
Cipta
Utama
EPN
:
Elnusa
Petrofin
ETSA
:
Elnusa
Trans
Samudera
EPR
:
Elnusa
Patra
Ritel
Product
Line
Services
Land
Seismic
Survey
Marine
Seismic
Survey
Transition
Zone
Seismic
Seismic
Data
Processing
Non
Seismic
Services
Geology
Geophysics
Reservoir
Drilling
Services
Electric
Wireline
Logging
Hydraulic
Workover
Servirces
Coiled
Tubing
Services
Well
Testing
Services
Drilling
Fluid
Services
Drilling
Evaluation
Services
Cementing
&
Pumping
Services
Slickline
Services
Enhanced
Oil
Recovery
Operation
&
Maintenance
Product
Line
Services
of
Subsidiaries
EFK
(97.35%)
Fabrication
Threading
Trading
EPC
EPN
(99.93%)
Transportation
Depo
Management
Fuel
Trading
Chemical
Trading
PND
(70.00%)
Geo
IT
Solution
Geo
Data
Solution
ETSA
(90.00%)
Marine
Support
Service
Supporting
Fleets
SCU
(99.99%)
Data
Management
(Digital
&
Physichal)
Operational
Area
6
ELSA
Shares
J F M A M J J A S O N D
0 100 200 300 400 500 600 700 800
Price
Volume
2014
ELSA
Shares
Performance
ELSA
Shares
appreciated
104%
in
2014
from
Rp
335
to
Rp
683
Issued
shares
7.298.500.000
shares
Market
Cap
2014
:
Rp
5
trillion
(+/
‐
USD
430
million)
Average
share
price
and
volume
in
2014
:
Rp
554
and
39mn
shares
/day.
35%
24%
19%
19% 3%
2014
ELSA
Non
Controlling
Ownership
ELSA
non
controlling
ownership
in
2014
was
dominated
by
domestic
holding
by
65%
Foreign
Institution
:
35%
Insurance
:
24%
Mutual
Fund
:
19%
Domestic
Individual
:
19%
Financial
Highlights
IDR bn
* Gain on asset sales in 2014 was Rp 87 bn
YoY
Rp
(bn)
%
Rp
(bn)
%
Revenue
4.112
100%4.221
100% 2,7%Cost
of
Revenue
3.465
84%3.461
82% ‐0,1%Gross
Profit
647
16%760
18% 17,5%Operating
Profit
293
7%425
10% 45,1%EBITDA
599
15%665
16% 11,0%Net
Profit
(Loss)
238
6%412
10% 73,1%EPS
33
1%57
1% 72,7%Total
Assets
4.371
100%4.246
100% ‐2,9%Total
Liabilities
2.086
48%1.663
39% ‐20,3%Total
Equity
2.285
52%2.583
61% 13,0%Account
Receivables
958
22%930
22% ‐2,9%Account
Payables
1.088
25%1.068
25% ‐1,8%Interest
Bearing
Debt
764
17%436
10% ‐42,9%Full
Year
Performance
8
4.112
4.221
647 760
16%
FY13 FY14
Consolidated
Revenue
Gross
Profit
Gross
Margin
IDR bn1.604
1.681
337 436
21%
FY13 FY14
Oilfield
&
Drilling
Sevices
953
867
169 189
18%
FY13 FY14
Seismic
Services
1.661
1.848
212 205
13% 11%
FY13 FY14
Subsidiaries
Quarterly
Performance
Oilfield
&
Drilling
Services
238
Seismic
Services
Oilfield
&
Drilling
by
Services
453
544
2013
2014
Electric
Wireline
Logging
122
174
2013
2014
Coiled
Tubing
Unit
341
291
2013
2014
Drilling
216 214
2013
2014
Hydraulic
Workover
43
95
2013
2014
Drilling
Fluid
116
114
2013
2014
Snubbing
10
IDR bn20%
‐
15%
‐
1%
42%
119%
‐
2%
Oilfield
&
Drilling
by
Services
Revenue
Growth
15
35
2013
2014
Cementing
&
Pumping
29 33
2013
2014
Drilling
Evaluation
81
84
2013
2014
Well
Testing
163
57
2013
2014
Operation
Maintenance
22
40
2013
2014
Slickline
IDR bn
4%
‐
65%
79%
127%
Seismic
by
Services
622
702
2013
2014
Seismic
Land
265
81
2013
2014
Seismic
Marine
65
83
2013
2014
Seismic
Data
Processing
12
IDR bn13%
‐
69%
27%
Subsidiaries
Performance
1.412
1.589
2013
2014
Elnusa
Petrofin
92 97
2013
2014
Patra
Nusa
Data
26
56
2013
2014
Elnusa
Fabrikasi
Konstruksi
73
63
2013
2014
Sigma
Cipta
Utama
IDR bn
12%
6%
120%
‐
13%
Revenue
Contract
Replacement
Profile
14
Mn
USD
Contract
in
2014
and
Forward
CARRIED
OVER
NEW
CONTRACT
TOTAL
CONTRACT
VALUE
2014
VALUE
ONWARD
A
B
A+B
C
A+B
‐
C
Oilfield
&
Drilling
145
222
367
142
225
Seismic
86
17
103
72
31
TOTAL
231
239
470
214
256
Investment
489
130
110
366
0
250
500
750
2011
2012
2013
2014
IDR bn
A
=
227
B
=
262
A
=
26
B
=
104
A
B
=
=
51
59
A
=
337
B
=
30
A
=
New
Investments
B
=
Replacements
Area
of
Investment
(Oilfield
&
Drilling
Services
&
Seismic)
:
Electric
Wireline
Unit
Coiled
Tubing
Unit
Portable
Slickline
Unit
Barges
Refurbish
Moduar
Rig
Investment
Details
16
2014
Figures
2015
Plan
$
2015
Capex
Plan
In
Mio
IDR
Drilling
&
Oilfield
Services
=
300.475
Geoscience
Services
=
158.215
Subsidiaries
=
72.941
Land
&
Building
=
66.000
597.631
Replacement Capex in Mio IDR
Oilfield & Drilling 13.686 Seismic 16.203
Total 29.889
New Capex in Mio IDR
Oilfield & Drilling 272.168 (Triplex Pump, CTU, Wireline Logging Unit, Slickline etc)
Seismic 5.611 Subsidiaries 22.231 Land & Building 36.568
Total 336.578
Total Cash Out Capex 2014 366.467
Loan
and
Cost
of
Funds
62.246
37.264
Business
Challenges
in
2015
18
Oil
Price
Technology
People
Competition
Elnusa
Challenges
Business
Challenges
in
2015
Oil
Price
Oil price is predicted to be remain at $50
‐
$60 /bbl in 2015,
hence:
•
Less spending on exploration (seismic & exploration
well), but not on reprocessing data.
•
More focus on maintenance (good for oilfield services).
Technology
•
More to lateral/horizontal drilling, impacted to lower
cost (no need to drill more wells). Elnusa will make
strategic partnership to improve capabilities.
•
More advance to a down hole tools. Elnusa will focus to
this new technology equipments.
Competition
•
Become more severe, due to merging companies (HAL
& BHI) which potentially be followed by others.
•
Chinese companies penetration with lower fee and
more aggressive strategy.
PT
Elnusa
Tbk.
Graha
Elnusa
Jl.
T.B.
Simatupang
Kav.
1B
Jakarta
12560,
Indonesia
Tel:
+62
21
‐
788308050
Fax:
+62
21
‐
78830907
www.elnusa.co.id
Thank
You
DISCLAIMER :
The information in this document has not been independently verified. No representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. None of PT Elnusa Tbk (the “Company“), nor any of its affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss whatsoever arising from the use of this document or its contents or otherwise arising in connection with this document.
This document is being furnished to you solely for your information on a confidential basis and may not be reproduced, redistributed or passed on, in whole or in part, to any other person. Any failure to comply with these restrictions may constitute a violation of the laws of any such other jurisdiction. By accepting this document you agree to be bound by the foregoing limitations.
This document does not constitute or form part of an offer or invitation to purchase any shares in the Company and neither shall any part of it form the basis of nor be relied upon in connection with any contract or commitment whatsoever. Any decision to purchase shares should be made solely on the basis of information contained in the prospectus.
