PT INDUSTRI DAN PERDAGANGAN
BINTRACO DHARMA Tbk
Disclaimer
This presentation has been prepared by PT Industri dan Perdagangan Bintraco Dharma Tbk,
a reviated as Bintraco or Bintraco Dhar a , i depe de tly a d is ir ulated 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.
Table of Contents
Disclaimer 2
1. Executive Summary 4
2. Business Segments 6
Executive Summary
Q1 2017 Results
• Results exhibited top line growth of 8%, with growth in automotive arm 7% & financing arm 17%.
• Automotive growth was from higher volume, though average selling price was lower.
• Financing segment margin rose due to higher interest rate charged to the customer.
• Bottom line of Q1 2017 dropped due to the discount and higher composition of Calya.
• Total assets Mar 2017 increased inline with financing growth & stock in anticipation for Lebaran.
4 *Net Profit is Profit Attributable to Shareholders
Return on Assets and Return on Equity as of 31 Mar 2017 was calculated based on annualized Net Profit.
in billions Rp 2016 3M16 3M17
(unless otherwise stated) Audited Unaudited Unaudited %YoY
Net Revenue 6,790 1,525 1,648 8%
Gross Profit 1,128 275 266 -3%
%Gross Profit Margin 16.6% 18.1% 16.1%
Net Profit* 165 49 45 -9%
%Net Profit Margin 2.4% 3.2% 2.7%
31 Dec 2016 31 Mar 2017
Audited Unaudited %Change
Total Assets 6,451 7,127 10%
Total Equity 1,410 1,461 4%
Return on Assets 2.6% 2.5%
Return on Equity 11.7% 12.3%
Company Information
Bintraco Dharma
PT Andalan Finance Indonesia (92.2%) PT Meka Adipratama (46.9%)
PT Meka Mekar Niaga (46.5%) PT New Ratna Motor (81%)
PT Nasmoco (79.8%)
PT Chandra Pratama Motor (80.9%) PT Nasmoco Pratama Motor (80.9%) PT Nasmoco Karangjati Motor (71.8%)
PT Nasmoco Bahtera Motor (53.8%) PT Nasmoco Bahana Motor (48.4%)
Automotive Financing
PT Gema Adipradana Indah (99.9%) PT Bahtera Multi Niaga (36.7%) PT Semarang Diamond Citra (65%) PT Sumber Bahtera Mandiri (53.8%)
PT Graha Bahana Mandiri (48.4%)
Listed in IDX AGMS
Business Structure & Effective Ownership
Current and Upcoming Events
10 Apr 2 May 22 May
Section 2
Automotive Business: Product Launches
Jan 2016
All New Fortuner
Apr 2016
All New Sienta
Apr 2016
New Rush Sportivo Ultimo
Aug 2016
All New Calya
Nov 2016
Yaris Heykers
Apr 2017
New Agya
Automotive Market Central Java & Yogyakarta
8
Sales Volume Growth (in thousands unit) Market Share
Toyota Share By Segment 2016 3M16 3M17
LCGC 37% 30% 41%
Low & Med MPV 55% 50% 52%
Low & Med SUV 19% 23% 20%
Low & Med Hatchback 25% 24% 23% Sedan + High & Lux Car 35% 25% 35%
LCGC Low & Med MPV Low & Med SUV
Low & Med HB Sedan + Hi/Lux Car Commercial
Automotive Business: Performance Highlights
Revenue
• 3M17 Revenue growth from vehicles due to volume growth, yet lower for (1) higher composition of Calya with lower selling price & (2) higher discount for selected models.
• Thus, Net Profit 3M17 slid due to the lower Gross Profit amount for the higher Calya sales & the discount in 2017.
Nonetheless, the drop offset by control in OPEX for continuous improvement (kaizen).
in billions Rp 2016 3M16 3M17
(unless otherwise stated) Audited Unaudited Unaudited %YoY
Sales Volume (thou. units) 27.3 5.9 6.3 6%
Net Revenue 5,871 1,307 1,400 7%
Gross Profit 827 196 170 -13% %Gross Profit Margin 14.1% 15.0% 12.2%
Net Profit* 153 44 33 -26% %Net Profit Margin 2.6% 3.4% 2.3%
*Net Profit is Profit Attributable to Shareholders 84.3%
Motor Vehicle Parts & Others Total
• Net Revenue 3M17 grew mainly from: (1) interest revenue increase +11% due to increased rates for contracts after mid 2015; and (2) fee-based income for admin charges inline with volume growth.
• Expenses 3M17 increased for impact of volume increase. However, cost-to-income ratio showed improvement.
• Concluding, Net Profit increased as spread increased due to higher rate which balanced by better cost-to-income ratio.
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in billions Rp 2016 3M16 3M17
(unless otherwise stated) Audited Unaudited Unaudited %YoY
Financed Units* (thou. units) 76.6 67.4 80.1 19%
Net Revenue 917 212 248 17%
Expenses 811 195 213 9% %Cost-to-Income Ratio 88.5% 92.0% 85.7%
Net Profit 79 23 26 15% %Net Profit Margin 8.6% 10.7% 10.5%
Non-Performing Financing 1.8% 2.0% 2.0%
Source : Company Information
Section 3
12
• Bintraco via automotive arm continued to retain no.1 market share in region. Revenue rose for more vehicle sold, though lessened by lower average selling price.
• Financing arm continued to deliver high margin on the back of: (1) higher interest rate charged to customer; and (2) cost-to-income ratio drop benefitting from volume growth. Moreover, NPF was still manageable at 2%.
• 3M17 Revenue growth showing higher growth of Financing arm than Automotive arm, causing a slight shift in 3M17 Revenue composition: Automotive 85% & Financing 15%
Bintraco’s
Profitability
in billions Rp 2016 3M16 3M17
(unless otherwise stated) Audited Unaudited Unaudited %YoY
Net Revenue 6,790 1,525 1,648 8%
Gross Profit 1,128 275 266 -3%
%GP Margin 16.6% 18.1% 16.1%
Net Profit* 165 49 45 -9%
(a) 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*
• Total Assets 31 Mar 2017 increased from 31 Dec 2016 from outstanding financed units growth & cars stock for Lebaran feast preparation.
• To aid the financed unit growth & sales Lebaran
preparation, Bintraco via subsidiaries obtained bank loans as new funding & working capital injection.
Bintraco’s
Financial Position
Total Asset Total Liabilities Total Equity
39.3%
(a) 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
Financial Position Contribution as of Mar 2017(a)
in billions Rp 31 Dec 2016 31 Mar 2017
(unless otherwise stated) Audited Unaudited %Change
Current Assets 5,278 5,944 12.6%
Return on Equity 11.7% 12.3%
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Thank you
For further information please contact:
PT Industri dan Perdagangan Bintraco Dharma Tbk Corporate Investor Relations
email : investor.relation@bintracodharma.com
