www.elnusa.co.id
PT
Elnusa
Tbk
Agenda
COMPANY
PROFILE
FINANCIAL
PERFORMANCE
Company
Milestones
1969
Establishment
1971
‐
1987
Entered
seismic
business,
oilfied
services,
data
management
and
fuel
trading
business
2008
Revitalizing
Human
Resources
Challenges
through
5
Elnusa
Total
Solution
Services
Exploration
Development
&
Installation
Operation
&
Abandonment
Processing
&
Refinery
Logistic
&
&
Refinery
E
Drilling
Services
Well
Services
Maintenance
Seismic
Well
Services
Support Equipment Fabrication
OCTG
Trading
&
Threading
Support
Vessel
Chemical
Trunking
Data
Management
Fleet & Depo Management
Shareholder
&
Management
Structure
PERTAMINA
as
controlling
shareholder
&
major
client
PT
PERTAMINA
(PERSERO)
41,1%
DANA
PENSIUN
PERTAMINA
14,9%
PT Elnusa Oilfield Services
PT Elnusa Geosains Services
PT Elnusa Fabrikasi Konstruksi
PT Patra Nusa Data
PT Sigma Cipta Utama
PT Elnusa Trans Samudera
PT Elnusa Petrofin
PT Elnusa Patra Ritel
Integrated
Upstream
Oil
&
Gas Services
Oil
&
Gas Support
Services
Logistic
&
Distribution
Services
Badan
Usaha
Domestik
Asing
COMPANY
Financial
Highlights
INCOME
STATEMENT
2015
2016
%
Change
Revenue
3.775
100%3.621
100%(4.1%)
Cost
of
Revenue
3.057
81%3.006
83%(1.7%)
Gross
Profit
719
19%615
17%(14.5%)
Operating
Profit
470
12%419
12%(10.9%)
EBITDA
736
19%723
20%(1.8%)
Net
Profit
375
10%311
9%(17.1%)
Revenue
down
4.1%
due
to
impact
of
slow
activities
in
oil
&
gas
especially
to
our
drilling
services
business.
We
succesfully
managed
our
cost
and
efficiency
which
reflected
to
the
growth
of
our
operating
profit
and
EBITDA.
Aside
of
lower
operational
activities,
net
profit
dropped
17.1%
this
year
was
caused
by
forex
loss
of
Rp18
bn
compared
to
gain
on
forex
of
Rp55
bn
last
year.
9
Financial
Highlights
BALANCE
SHEET
2015
2016
%
Change
Cash
&
Equivalents
935
744
(20.4%)
Account
Receivables
790
18%714
17%(9.6%)
Total
Assets
4.408
100%4.191
100%(4.9%)
Account
Payables
&
Accruals
895
20%638
15%(28.7%)
Short
Term Bank
Loan
444
10%516
12%16.2%
Long
Term
Bank
Loan
296
7%34
0%(89%)
Total
Liabilities
1.772
40%1.313
31%(25.9%)
Total
Equity
2.635
60%2.878
69%9.2%
Account
receivables
declined
9.6%
to
Rp714
bn
due
to
management’s
policy
to
shorten
collection
days
period
.
Interest
bearing
debt
dropped
26%
to
Rp550
bn
due
to
loan
payment
of
around
USD23
mn
during
period
in
order
to
optimize
cash
position
and
reduce
interest
expenses
and
was
impacted
to
total
Liabilities
which
declined
25.9%
to
Rp
1,313
bn.
Equity
up
9.2%
to
Rp2,878
bn
as
the
impact
of
improved
retained
Segment
Highlights
Other
Services
Drilling
&
Oilfield
Services
revenue
declined
25%
to
Rp1.1
tn
mostly
caused
by
drilling
business
contract
termination,
but
on
the
other
hand,
we
currently
focus
on
operation
maintenance
business
to
cover
the
slowdown
in
upstream
industry
.
Seismic
Services
down
16%
to
Rp669
bn
but
was
maintained
in
profitability
as
projects
in
Pertamina
was
performed
satisfactory
.
In
Subsidiaries,
revenue
from
transportation
services
increased
10%
while
another
subsidiary
(
data
IDR Bn Revenue & Gross Margin
32%
18%
45%
5%
DOS
GSC
EPN
Others
11
ELSA
Stock
Performance
11
oil
price
sentiment.
Contract
Profile
Carry
over
contract
from
2015
was
USD
311,1
mn
which
consisted
of
USD
241,6mn
from
Drilling
&
Oilfield
and
USD
69,5
from
Seismic.
New
contract
up
to
September
2016
amounted
to
USD
76,8
mn
which
are
USD
69mn
of
Drilling
&
Oilfield
and
USD
7,8mn
of
Seismic.
Until
end
of
Dec
2016
total
project
realization
is about
USD
142
mn.
Total
Carry
forward
contract
will
be
around
USD
246 mn.
311.1
76,8
387.9
142
246.0
Carry
Over
New
Contract
Total
Contract
2016
Actual
Carry
Forward
Drillling
&
Oilfield
Seismic
13
The
Best
Contractor
in
Delta
Mahakam
For
the
third
time,
ELNUSA received
The
Mahakam
Award
&
The
Best
Contractor
for
category
of
Safety
Performance of
High Risk Contract
>
400,000
Manhours
in
TOTAL
EP
INDONESIE’s
HSE
Communication
Forum
2016.
ELNUSA
has
been
operating
in
Delta
Mahakam
(for
Total
EP
Indonesie)
for
more
than
30
years
(since
1982).
Well Testing & Slickline
ELNUSA
Services
in
Delta
Mahakam
Hydraulic Workover & Snubbing
Coiled Tubing, Well Stimulation & Pumping
Work Barge
Accommodation Work Barge
15
Industry
Update
:
Oil
price
is
projected
to
recover
gradually
15
Global
oil
crude
market
messages
by
IHS
Market
:
Dated
brent
expected
to
rise
to
an
average
of
$52/bbl
in
2017
as
the
impact
of
deep
spending
cuts
on
production.
Annual
world
oil
demand
growth
of
just
over
1
MMb/d
is
a
critical
assumption
underpinning for
the
market
to
stay
more
‐
or
‐
less
balanced
through
2017.
There
is
upside
potential
to
our
supply
outlook
for
some
areas,
despite
the
lower
price
environment.
Business
Strategy
STABILITY
Maintain
Profit
Help clients in
carrying
out
efficiency
Develop
Internal
improvement
GROWTH
Diversifica
‐
tion
Diversification to
minimize
risk
Potential
recurring
income
Optimize
Integrate
Diversify
17
Market
Penetration
in
Marine
Support
Services
Exploring
New
Discoveries
Contributing
to
National
Resources
An
Indonesia
Pride
ELSA
REGENT
Indonesian
Flag
‐
Marine
Seismic
Vessel
Highest
seismic
vessel
local
content
in
Indonesia
(TKDN)
Superior
broadband
seismic
data
acquisition
&
processing
Efficient
survey
utilization
through
high
capacity
3D
seismic
vessel
Full
azimuth
dataset
for
subsurface
Product
Development
:
Flare
Gas
Flare
Gas
0,5
‐
10
mmcfd
0,009
– 0,065
mmcfd
CH4
(gas)
NGL
(liquid)
Condensate
(liquid)
Flare
to
Liquid
service
Flare
to
Power
service
Electric
up
to
350
kw/unit
Key
Drivers
Clients
needs
to
comply
with
regulation
Oil
Company
needs
to
reduce
the
oil
lifting
cost
Potential
additional income
for
PSC
Indonesian
LPG
import
keep
increasing
19
Market
Expansion
to
Regional
Area
Algeria
Seismic
Reprocessing
for
Pertamina
Algeria
E&P
Malaysia
Snubbing
Services
in
Petronas
Brunei
Ltd
(Technical
Expertise)
Thailand
Snubbing
services
in
Chevron
Thailand
E&P
Ongoing project / under contract
Prospect market
Malaysia
Well
Testing
&
TCP
services
in
Petronas
Carigali
&
workover
PT
Elnusa
Tbk.
Graha
Elnusa
Jl.
T.B.
Simatupang
Kav.
1B
Jakarta
12560,
Indonesia
Tel:
+62
21
‐
78830850
Fax:
+62
21
‐
78830907
www.elnusa.co.id
Thank
You
DISCLAIMER :
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