Corporat e Present at ion
AUGUST 03, 2012
1
CEMENT INDUSTRY AT A GLANCE
•
Design Capacity
: 54. 4 mio tons
56. 8 mio tons
65. 1 mio tons
•
Production Capacity
: 51. 0 mio tons
55. 0 mio tons
61. 5 mio tons
•
Domestic Growth
: 17. 7%
14. 0%
8. 0%
•
Domestic Utilization
: 94%
99%
96%
•
Total Utilization
: 96%
100%
97%
•
Supply
Domestic
: 48. 0 mio tons
54. 7 mio tons
59. 0 mio tons
Export
: 1. 2 mio tons
0. 3 mio tons
0. 5 mio tons
Import
: 1. 8 mio tons
2)2. 0 mio tons
3)1. 0 mio tons
3)1) Based on t he Company’ s f orecast
2) Import ed cement by PT Semen Andal as (1. 0 mio t on) and cl inker by Bosawa and SMGR
3) Import ed cement & cl inker
Singapore
THE PLAYERS and CAPACITY (2012
)
SMGR: 22. 5 mio ton
(38% of Industry Cap. )
CEMENT INDUSTRY
2011
2012F
1)
2013F
1)
DOMESTIC CEMENT CONSUMPTION 1H-2012
DESCRIPTION
1H-12
1H
CHANGE (%)
DOMESTIC
10. 3
9. 2
12. 2
1H-2012 - SMGR Sales Volume
(million tons)
1H-2012 – Domest ic Consumpt ion
(million tons)
Sour ce: Indonesi a Cement Associ at i on
AREA
1H-12
1H-11
Change (%)
Industry Sales Type (mio tons)
1H-12
1H-11
YoY Change
Bag
21. 0 (81%)
18. 4 (82%)
14. 1%
Yogyakart a
381, 536
351, 311
8. 6
East Java
3, 221, 031
2, 717, 672
18. 5
TOTAL INDONESIA
25, 891, 526
22, 492, 410
15. 1
Export Cement
47, 508
154, 582
(69. 3)
Export Clinker
100, 416
442, 271
(77. 3)
Tot al Export
147, 924
596, 853
(75. 3)
FINANCIAL SUMMARY: 1H-2012 RESULTS
EBITDA (Rp bil l ion)
NET INCOME (Rp bil l ion)
NET INCOME (Rp bil l ion)
EBITDA Margin (%)
EBITDA Margin (%)
1H-08
1H-09
1H-10
1H-11
1H-12
31. 3
31. 5
34. 1
33. 2
33. 4
NET INCOME Margin (%)
NET INCOME Margin (%)
1H-08
1H-09
1H-10
1H-11
1H-12
19. 9
22. 4
24. 4
24. 6
24. 3
Description (Rpbn)
1H2011
1H2012
Change (%)
Revenue
7. 606
8, 658
13. 8
Cost of revenue
4, 110
4, 696
14. 2
Gross profit
3, 496
3, 961
13. 3
Operating expenses
1, 223
1, 364
11. 5
Operating income
2, 301
2, 644
14. 8
Ebitda
2, 528
2, 894
14. 4
Net Income
1, 873
2, 103
12. 3
EPS (full amount)
316
355
12. 3
2894
1H-08
1H-09
1H-10
1H-11
1H-12
2103
1H-08
1H-09
1H-10
1H-11
1H-12
Ratio (%)
Formula
1H
2011
1H
2012
Ebitda margin
Ebitda / Revenue
33.2
33.4
Interest coverage (x)
Ebitda / Interest expense
201.1
237.0
Cost ratio
[COGS + Opex] / Revenue
70,1
70,0
Total debt to equity *)
Total debt / Total equity
9.1
15.8
Total debt to asset *)
Total debt / Total asset
6.3
10.44
PRODUCTION PERFORMANCE
Unit
Cement Product ion
Growt h (%)
•
Semen Gresik
•
Semen Padang
•
Semen Tonasa
5, 143, 351
3, 254, 276
2, 030, 194
11. 5
13. 5
14. 4
TOTAL
10, 427, 821
12. 7
1H-2012
PROGNOSES 2H-2012
Unit
Prognoses Product ion
Growt h (%)
•
Semen Gresik
•
Semen Padang
•
Semen Tonasa
6, 407, 300
3, 292, 850
2, 574, 159
23. 7
3. 0
22. 9
TOTAL
12, 274, 309
16. 3
TARGET 2013
Unit
Cement Product ion
•
Semen Gresik
•
Semen Padang
•
Semen Tonasa
12, 800, 000
6, 500, 000
6, 300, 000
5
CEMENT PLANTS & POWER PLANT PROJECTS
These st rat egic proj ect s wil l ensure sust ainabil it y of
t he Company’ s market l eadership
Preheater Tuban IV
Blending Silo Tonasa V
New Plants
Sumat era
3. 0
352
2012
Q4-2015
Java
3. 0
403
2012
Q2-2016
Sub Total
12. 0
1, 425
6
Progress of Tonasa V Cement Plant Proj ect
•
Capacit y: 3. 0 mio t ons of cement
•
Est imat ed Invest ment cost : USD315 million
•
Proj ect complet ion: 98%
•
Some main equipment s such as Cement
Grinding and Packaging (Packer) has been
operat ed (commissioning) since May 2012
•
Schedule of complet ion: Sep 2012
Progress of Tuban IV Cement Plant Proj ect
•
Capacit y: 3. 0 mio t ons of cement
•
Est imat ed Invest ment cost : USD355 million
•
Complet ed
•
Fire on: April 2012
•
Commissioning periode: Feb - June 2012
•
Commercial Product ion: July 2012
•
Some main equipment s such as Cement Grinding
and Packaging (Packer) has been operat ed
(commissioning) since January 2012
Preheater Tonasa V
Preheater Tuban IV
PROGRESS OF CEMENT & POWER PLANT PROJECTS – June 30, 2012
Progress of Power Plant Proj ect - Tonasa
•
Capacit y: 2 x 35 MW
•
Est imat ed Invest ment cost : USD114 million
•
Proj ect complet ion: 89%
DESIGN CAPACITY (Mio Ton)
7
Existing
+
Upgrading
New
Capacity
(T
o
n
s
e
m
e
n
)
27,3 jt
30,3 jt
20,0 jt
22,5 jt
25,9 jt
8
CAPEX PLANNING PROFILE (2012 – 2016)
Uses of f unds
Det ailed capex schedule (US$ mm)
404
556
567
153
84
116
113
110
122
127
2012
2013
2014
2015
2016
St rat egic
Non St rat egic
STRATEGIC
Capacit y Expansion
1, 008
Dist ribut ion Facil it y
337
Power Pl ant s
31
De-bot t l enecking
139
Energy Conservat ion
168
Ready Mix Business
22
Human Capit al Mast er Pl an & ICT
14
Ot hers
48
NON STRATEGIC
Keep Perf ormance
496
Ef f iciency Improvement
44
Mandat ory
48
9
9
Main Office:
Main Building of Semen Gresik
Jln. Veteran Gresik 61122 –
Indonesia
Phone: (62-31) 3981731 -2, 3981745
Fax: (62-31) 3983209, 3972264
Representative Office:
Gedung The East, 18
thFloor,
Jln. Lingkar Mega Kuningan Kav. E3.2 No. 1,
Jakarta 12950 – Indonesia
Phone : (62-21) 5261174 – 5
Fax
: (62-21) 5261176
www.semengresik.com
THANK YOU
THANK YOU
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 Gresik (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.
