COMPaNy bUsINEss PrOsPECTs
international Business ProsPeCts In the global competition, the Company has a competitive advantage in geographical position to be close to the South East Asia market. This is supported by the implementation of the ASEAN Free Trade Area (AFTA) agreement whereby the trade of ASEAN products is free from import duties tax so that the Company’s products are more competitive. The main target of net importer countries include Philippines and Vietnam. The enactment of the ASEAN Economic Community (MEA) also encourages higher trading activities so that the marketing opportunity of fertilizer is still wide open.
The Urea market faces a variety of internal and external challenges. On the internal side, the condition of some of the of the factory that has aged and the high price of gas causes the national fertilizer company business less competitive to penetrate the international market.
lain, jaringan pemasaran yang terbentuk melalui trader dengan kualifikasi internasional diharapkan dapat memberikan ruang gerak lebih luas untuk pemasaran produk Perusahaan. Pada sisi eksternal, tantangan utama adalah kondisi pasar yang over supply dan ancaman mulai beroperasinya beberapa pabrik baru yang mengakibatkan pasar Urea akan terus mencari titik keseimbangan baru dengan koreksi harga. Dengan prospek usaha Urea saat ini, Perusahaan dituntut untuk melakukan diversifikasi usaha dan penetrasi, terutama kawasan Far East dan Australia. Kedua wilayah tersebut memiliki pertumbuhan produk downstream Urea yang signifikan.
Berdasarkan Fertecon Q4/2016, sekitar 80% produksi Urea di dunia diaplikasikan sebagai pupuk langsung yang merupakan sumber utama Nitrogen. Selebihnya diaplikasikan sebagai bahan baku pupuk majemuk seperti NPK, Urea Amonium Nitrat (UAN) dan kebutuhan lainnya. Beberapa kawasan mengalami surplus dan defisit suplai Urea. Wilayah Amerika Latin, Amerika Utara dan Uni Eropa mengalami defisit suplai Urea yang signifikan. Hal ini disebabkan tingginya kebutuhan Urea yang berasal dari industri downstream. Negara Timur Tengah dan CIS mengalami surplus Urea yang disebabkan rendahnya harga bahan baku gas bumi sebagai sumber utama energi pembuatan pupuk.
On the other hand, the marketing network formed through traders with international qualifications is expected to provide wider space for marketing the Company’s products. On the external side, the main challenges are over-supply market conditions and the threat of operating several new factories causing the Urea market will continue to seek new equilibrium points, especially on deeper selling prices. Under Urea’s current business prospects, the Company is required to diversify its business and penetration, particularly the Far East and Australia. Both regions have significant Urea downstream product growth.
Based on Fertecon Q4/2016, about 80% of Urea production in the world is applied as direct fertilizer which is the main source of Nitrogen. The rest is applied as raw material of compound fertilizers such as NPK, Urea Ammonium Nitrate (UAN) and other needs. Some areas experience Urea supply surplus and deficits. Latin America, North America and EU regions have significant Urea supply deficits. This is due to the high demand of Urea derived from the downstream industry. The Middle East and CIS countries experienced a surplus Urea caused by the low price of raw materials of natural gas as the main source of energy fertilizer manufacture.
Pasar Amoniak menghadapi ancaman iklim kompetisi yang tinggi, terlihat dari ekspansi pendirian pabrik baru yang dilakukan oleh pesaing Perusahaan, antara lain Qafco (Qatar), Petronas (Malaysia), PetroVietnam (Vietnam) dan produsen pupuk di Tiongkok. Tantangan lain adalah produsen pesaing di kawasan Timur Tengah dan Amerika dapat memperoleh alternatif harga gas bumi yang lebih ekonomis, ketersediaan cadangan shale gas yang tinggi dan harga LNG yang kompetitif.
Hal ini berdampak mengurangi daya saing Perusahaan di pasar internasional, terutama pada pasar Asia Tenggara.
Berdasarkan Fertecon Q4/2016, Amoniak sebagian besar digunakan sebagai bahan baku Urea. Selebihnya diserap sebagai bahan baku industri downstream yaitu pabrik pupuk DAP dan NPK Chemical, Caprolactam dan pabrik Amonium Nitrat. Beberapa kawasan mengalami kondisi surplus dan defisit suplai Amoniak. Wilayah Asia, Amerika Utara dan Uni Eropa mengalami defisit suplai Amoniak yang signifikan. Hal ini disebabkan tingginya kebutuhan Amoniak yang berasal dari industri downstream. Sedangkan negara Timur Tengah, Amerika Latin dan CIS mengalami surplus Amoniak yang
disebabkan rendahnya harga bahan baku gas bumi dan
MIDDLe eAST Import : 453 Export : 18.280 Surplus : 17.827 WORLD TOTAL Import : 48.389 Export : 48.389 Surplus | Deficit : 0 NORTH AMeRICA Import : 7.570 Export : 1.350 Deficit : 6.220
AfRICA Import : 2.975 Export : 2.940 Surplus : 35 LATIN AMeRICA Import : 8.209 Export : 1.180 Deficit : 7.029
ASIAImport : 15.017 Export : 12.770 Deficit : 2.247 eU-15 Import : 6.314 Export : 2.373 Deficit : 3.941
OCeANIA Import : 2.725 Export : - Deficit : 2.275 eU-13 Import : 2.077 Export : 1.259 Deficit : 818
OTHeR eUROPe Import : 2.649 Export : 5 Deficit : 2.644
CISImport : 400 Export : 8.232 Surplus : 7.832
PETA KESEIMBANGAN EKSPOR-IMPOR UREA (‘000 TONNES)
MaP Of UrEa EXPOrT-IMPOrT balaNCE (‘000 TONNEs)
Ammonia market is also facing the threat of high competition, as seen from the expansion of new factories made by the Company’s competitors, such as Qafco (Qatar), Petronas (Malaysia), PetroVietnam (Vietnam) and fertilizer producer in China. Another challenge is that competitors in the Middle East and the United States can obtain more economical alternative gas prices, higher shale gas reserves and more competitive LNG prices. This certainly affected on the Company’s competitiveness in international markets, especially in the South East Asia market.
Based on Fertecon Q4/2016, the largest use of Ammonia is as Urea feedstock. The rest of Ammonia is absorbed as a downstream industry raw material that is DAP fertilizer factory and NPK Chemicals, Caprolactam and Ammonium Nitrate factory. Some areas have surpluses and supply deficits of Ammonia. The regions of Asia, North America and the EU have significant Ammonia supply deficits. This is due to the high demand of Ammonia from the downstream industry.
While Middle East, Latin America and CIS countries experienced an Ammonia surplus due to the low price of raw materials of natural gas and the expansion of
Sumber : Fertecon Urea Outlook IV/2016 | Source: Fertecon Urea Outlook IV/2016
PROSPeK USAHA DOMeSTIK Tekanan harga pasar pupuk internasional
mengakibatkan peta keseimbangan pasar domestik terus-menerus mencari titik keseimbangan baru.
Hal ini berimplikasi terhadap prospek usaha pupuk domestik yang mengalami berbagai tantangan baik dari sisi internal maupun eksternal. Pada sisi internal, penyerapan pupuk domestik dipengaruhi oleh kondisi cuaca dan pola penyerapan pupuk oleh petani. Pada 2015, pertanian Indonesia mengalami fenomena alam El Nino yang mengakibatkan kenaikan sebaran kebakaran hutan dan kekeringan sawah sehingga produktivitas pertanian mengalami penurunan. Di sisi lain, pada 2016 terjadi cuaca ekstrim La Nina yang berdampak pada peningkatan produktivitas pertanian sehingga suplai hasil pertanian diproyeksikan meningkat hingga 2017.
Pada 2017, diproyeksikan perbaikan subsektor sistem pertanian dan usaha agribisnis sesuai dengan program Kementerian Pertanian sehingga berimplikasi terhadap penyerapan pupuk yang cenderung meningkat.
Kendala penyerapan pupuk oleh petani, antara lain dosis pemupukan yang belum intensif, pengelolaan tanaman yang belum baik, produktivitas panen yang rendah sehingga berimplikasi pendapatan petani
MIDDLe eAST Import : 250 Export : 2.790 Surplus : 2.540 WORLD TOTAL Import : 18.207 Export : 18.207 Surplus | Deficit : 0 NORTH AMeRICA Import : 4.715 Export : 1.410 Deficit : 3.305
AfRICA Import : 1.574 Export : 1.538 Deficit : 36 LATIN AMeRICA Import : 1.144 Export : 5.210 Surplus : 4.066
ASIAImport : 5.280 Export : 1.520 Deficit : 3.760 eU-15 Import : 3.545 Export : 1.077 Deficit : 2.468
OCeANIA Import : 30 Export : 400 Surplus : 370 eU-13 Import : 379 Export : 245 Deficit : 134
OTHeR eUROPe Import : 1.155 Export : 151 Deficit : 1.004
CISImport : 135 Export : 3.867 Surplus : 3.732
PETA KESEIMBANGAN EKSPOR-IMPOR AMONIAK (‘000 TONNES)
MaP Of aMMONIa EXPOrT-IMPOrT balaNCE (‘000 TONNEs)
domestiC Business ProsPeCts
The pressure on international fertilizer market prices resulted in a domestic market balance map constantly looking for a new equilibrium point. This affects domestic fertilizer business prospect, which hase to cope with various challenges, both internally and externally. In the internal sector, domestic fertilizer absorption is influenced by weather condition and the farmers’ fertilizing pattern. In 2015, Indonesian farming was challenged by El Nino phenomenon which caused a high distribution of forest fires and drought fields that resulted on agricultural productivity decreased.
Meanwhile, in 2016 La Nina weather conditions caused an increase in agricultural productivity that make the supply of agricultural products is projected to decrease until 2017. An improvement in sub-sector system and agribusiness is projected to occur by 2017 in accordance with the Ministry of Agriculture program so that implications for the opportunity of absorption of fertilizer tends to increase.
The constraints in the farmers’ fertilizer absorption, such as unintesive fertilizing dosage, unoptimized crop management, low productivity of crop that lead to decreasing farmer’s income. This is also influenced
Sumber: Fertecon Amoniak Outlook IV/2016 | Source: Fertecon Amoniak Outlook IV/2016
cenderung menurun. Hal ini juga ditunjang oleh pola hidup konsumtif dari petani sehingga menyebabkan lemahnya daya beli petani. Terlihat dari realisasi penebusan pupuk lebih rendah dari hitungan formula sesuai areal tanam. Sebagai tindak lanjut, Perusahaan melakukan upaya promosi dan sosialisasi produk pupuk serta pola pemupukan intensif sesuai dosis yang dianjurkan secara langsung kepada petani atau koperasi tani.
Dari sisi eksternal, harga produk Urea impor yang rendah mengakibatkan kuantum impor pupuk Urea meningkat cukup signifikan yang didominasi oleh Tiongkok. Berdasarkan data Badan Pusat Statistik (BPS) Indonesia, pada 2016 tercatat pupuk impor yang masuk wilayah Indonesia sebesar 626 ribu ton naik signifikan dari 2015 sebesar 95 ribu ton. Walaupun demikian, Perusahaan tetap berupaya memaksimalkan pencapaian kinerja penjualan dengan mengoptimalkan efisiensi operasional dan sosialisasi produk lebih intensif.
Pada 2017, Perusahaan telah menyiapkan rencana skema antisipasi perubahan pola penyaluran pupuk bersubsidi Pemerintah dari penggantian biaya produksi produsen menjadi penggantian biaya langsung ke petani. Langkah antisipasi yang dilakukan adalah mendirikan kios bersama Pupuk Indonesia Group sehingga produk Perusahaan dapat tersedia di berbagai daerah. Selain itu, dengan diperolehnya penghargaan SNI Award 2016 kategori “Platinum” menjadi daya tarik tersendiri bagi konsumen pupuk non subsidi.
Prospek Urea non subsidi domestik berdasarkan data website Asosiasi Produsen Pupuk Indonesia (APPI) tercatat kebutuhan Urea tumbuh rata-rata 8% per tahun. Hal ini mengindikasikan peluang pemasaran Urea di sektor domestik masih terbuka luas, terutama pada sektor perkebunan di Sumatera dan Kalimantan.
Perusahaan juga mulai melakukan penetrasi sektor retail domestik untuk membuka pasar baru, baik untuk Urea maupun NPK.
Peluang lainnya adalah pemasaran pupuk majemuk, dimana pertumbuhan kebutuhan pupuk NPK non subsidi sebesar 10% per tahun. Hal ini sejalan dengan reorientasi pola pemupukan petani dari pupuk tunggal menjadi pupuk yang lebih lengkap unsur haranya. Propaganda Pemerintah turut mendukung perkembangan pemasaran pupuk majemuk melalui tenaga-tenaga penyuluh lapangan dan program kerja Dinas Perkebunan setempat.
STRATeGI 2016
Strategi yang ditetapkan Perusahaan merupakan penjaBaran dari visi dan misi serta rencana jangka panjang yang ditetapkan oleh Pemegang Saham.
Strategi ini dirumuskan untuk mengantisipasi pengaruh kondisi eksternal dan internal yang berdampak signifikan pada kinerja Perusahaan. Beberapa strategi utama yang direalisasikan antara lain:
by the consumptive lifestyles of farmers, resulting in lower purchasing power by the farmers. This condition is shown from the realization of fertilizer redemption that is lower than the calculated formula based on its planting area. Therefore, the Company strives to promote and socialize fertilizer products and intensive fertilization patterns in accordance with the recommended doses to farmers or farm cooperatives.
Externally, imported Urea product price resulted in a significant increase in imported Urea fertilizer, dominated by China. Based on data from the Central BUreau of Statistics (BPS) Indonesia, in 2016 imported fertilizer entering the territory of Indonesia amounted to 626 thousand tons a significant increase from 2015 of 95 thousand tons. Nevertheless, the Company strives to maximize its sales performance by optimizing operational efficiency and more intensive product socialization.
In 2017, the Company has prepared a scheme plan to anticipate changes in the distribution pattern of subsidized fertilizer, from production costs reimbursement to producers to direct
reimbursement to farmers. The anticipative measure taken is to establish a kiosk with Pupuk Indonesia Group so that the Company’s products can be available in various regions. The fact that the Company obtained SNI Award 2016 “Platinum” category became a strength-point to attract non-subsidized fertilizer consumers .
The prospect of domestic non-subsidized Urea based on data from the website of the Indonesian Fertilizer Producers Association (APPI) shows the need for Urea to grow by average of 8% per year. This indicates that Urea’s marketing opportunities in the domestic sector are still widely open, especially in the plantation sector in Sumatra and Kalimantan. The company also began to penetrate the domestic retail sector to open new markets, both for Urea and NPK.
Another opportunity is the marketing of compound fertilizers, in which the demand for non-subsidized NPK fertilizer growth is 10% per year. This is in line with the re-orientation of the fertilizer pattern of farmers from single fertilizer into fertilizer with more complete nutrients element. Government propaganda also supports the development of marketing of compound fertilizer through field extension workers and the work program of local Plantation Service.
strategy 2016
The strategy determined by the Company is a description of the vision and mission as well as the long-term plan set by the Shareholders. This strategy is formulated to anticipate the influence of external and internal conditions that have a significant impact on the performance of the Company. Some of the main strategies that are implemented include:
DIVeRSIfIKASI USAHA SeCARA beRKeLANjUTAN SeSUAI PeRKeMbANGAN PASAR
Perubahan bisnis perlu diantisipasi dengan diversifikasi usaha. Perusahaan melakukan berbagai proyek pengembangan untuk menyesuaikan dengan permintaan pasar. Proyek pengembangan yang telah dilakukan Perusahaan, antara lain membangun pabrik Amonium Nitrat, pabrik NPK Chemical dan pabrik Phosphoric Acid-Sulphuric Acid (PA/SA). Perusahaan juga melakukan kajian gasifikasi batu Bara untuk diversifikasi energi sebagai bahan baku pembuatan pupuk.
MeNINGKATKAN KeANDALAN DAN PeRfORMA OPeRASI PAbRIK
Perusahaan menetapkan indikator keandalan dan performa pabrik, yaitu On Stream Factor pabrik Amoniak dan Urea untuk Pabrik 5 minimum 80%
sedangkan Pabrik 2, Pabrik 3, Pabrik 4 dan Pabrik 1A, minimum 90%. Untuk mencapai target tersebut, Perusahaan melaksanakan standar ISO 9001, ISO 14001 dan SMK3 yang didukung oleh penerapan Sistem Manajemen Produksi (SIMPRO) serta menyusun jadwal preventive dan predictve maintenance yang terintegrasi. Di sisi lain, peningkatan produksi Amoniak dan Urea akibat dari beroperasinya Pabrik 5 diantisipasi dengan membangun unit storage baru, yaitu UBS-VI berkapasitas 100 ribu ton pada akhir 2016 dalam tahap penyelesaian performance test. Untuk mendukung kepastian suplai bahan baku ke Boiler Batu Bara yang memproduksi steam untuk pabrik eksisting, Perusahaan melaksanakan pembangunan gudang batu Bara yang berkapasitas 50 ribu ton.
NeGOSIASI KONTRAK GAS UNTUK
MeNDAPATKAN HARGA yANG KOMPeTITIf Kontrak gas yang akan berakhir adalah Pabrik 3 pada 2017 dan Pabrik 2 pada 2018. Menindaklanjuti hal ini, Perusahaan telah melakukan negosiasi kontrak gas secara intensif dengan KKKS (Kontraktor Kontrak Kerja Sama) difasilitasi oleh SKK Migas. Melalui upaya ini, diharapkan Perusahaan memiliki kontrak gas baru dengan harga yang kompetitif dan sejalan dengan Keputusan Presiden RI Nomor 40 Tahun 2016 tentang harga gas untuk industri tertentu.
MeNGeLOLA DAN MeNGeMbANGKAN SDM yANG PROfeSIONAL DAN PRODUKTIf
Perusahaan secara bertahap menyempurnakan kebijakan pengelolaan SDM yang disusun selaras dengan misi Perusahaan yang berwawasan global.
Kebijakan tersebut mengatur pelaksanaan berbagai aspek manajemen SDM, yaitu strategi pengelolaan SDM, job design, evaluasi jabatan, perencanaan tenaga kerja, rekrutmen dan seleksi, pengembangan dan pelatihan pegawai, penempatan pegawai, kompensasi dan benefit, sistem manajemen kinerja pegawai serta aturan mengenai terminasi pegawai. Melalui perbaikan pengelolaan SDM, diharapkan tercipta iklim kerja yang
Continuous Business diversiFiCation Based on marKet develoPment
Business changes need to be anticipated by diversifying the business. The company conducts various
development projects to adjust to market demand.
The Company’s development projects include building Ammonium Nitrate plant, NPK Chemicals plant and Phosphoric Acid-Sulfuric Acid (PA/SA) plant. The Company also conducted a study of coal gasification to diversify energy as raw material for fertilizer production.
imProve the reliaBility and PerFormanCe oF FaCtory oPerations
The Company has set plant reliability and performance indicator, namely On Stream Factor, for Ammonia and Urea in Plant 5 minimum 80% and Plant 2, Plant 3, Plant 4 and Plant 1A, minimum 90%. To achieve these targets, the Company performs ISO 9001, ISO 14001 and OHSAS standards, which is supported by the implementation of Production Management System (SIMPRO) and prepares an integrated preventive and predictive maintenance schedule. On the other hand, the increase of Ammonia and Urea production due to the operation of Plant 5 is anticipated by building a new storage unit, UBS-VI with a capacity of 100 thousand tons which by the end of 2016 in the completion stage of performance test. To support the certainty of coal supply to the existing factory, the Company built of a coal warehouse with a capacity of 50 thousand tons.
ContraCt gas negotiation to oBtain ComPetitive PriCe
The gas contracts that will expire are Plant 3 by 2017 and Plant 2 by 2018. The Company has negotiated an intensive gas contract with KKKS (Contractor Cooperation Contract) facilitated by SKK Migas.
Through this effort, the Company is expected to acquire a new gas contract with competitive price and in line with Presidential Decree No. 40 of 2016 about the gas price for selective industry.
managing and develoPing ProFessional and ProduCtive human resourCes
The Company has gradually perfected its human resource management policies that are aligned with the mission of the Company with global insight. The policy regulates the implementation of various aspects of HR management, ie HR management strategy, job design, job evaluation, manpower planning, recruitment and selection, employee development and training, employee placement, compensation and benefits, employee performance management system and employee termination rules. Through the improvement of human resources management, the Company
kondusif untuk mendukung pencapaian rencana jangka
panjang Perusahaan. expects to create a conducive working climate to support the achievement of the Company’s long term plan.