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REPUTABLE & EXPERIENCED BOARD & MANAGEMENT
COMPANY OVERVIEW
Board of Commissioners Board of Diretors
Hari Bowo
President Commissioner
• Education: Indonesian Naval Academy
• Previous position: Vice Admiral and Deputy Chief of Staff of the Indonesian Navy
• Appointed to Pelindo III BoC in 2014
Zainal Abbidin
Commissioner
• Education: Indonesia Military Academy
• Current position: President Commisioner of PT Kartanegara Energi Perkasa
• Appointed to Pelindo III BoC in 2017
Wahju Satrio Utomo
Commissioner
• Education: Trisakti University (Bachelor), University of Indonesia (Masters), University of Indonesia (Doctor)
• Current position: Head of Human Resources Development Division, the Ministry of Transportation
• Appointed to Pelindo III BoC in 2016
Heddy Lugito
Commissioner
• Education: Diponegoro University (Bachelor)
• Current position: Editor in Chief Gatra
• Appointed to Pelindo III BoC in 2016
Doso Agung
President Director
• Education: FISIP (Bachelor), Master in Management
• Previous position: President Director of Pelindo IV
• >28 years experience
Dedi Syaruf Usman
Commissioner
• Education: Parahyangan University (Bachelor), University of Colorado (Masters)
• Current position: Director of Separated State Asset, Ministry of Finance
• Appointed to Pelindo III BoC in 2018
Toto Nugroho Pranatyasto
Business Development and Transformation Director
• Education: University of Indonesia (Bachelor), University of Texas (Masters)
• Previous position: SVP Integrated Supply Chain of PT Pertamina (Persero)
• >21 years experience
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Putut Sri Muljanto
Commercial and Operational Director
• Education: Airlangga University (Bachelor and Masters)
• Previous position: President Director PT Terminal Petikemas Surabaya
• >24 years experience
• Education: Surabaya Institute of Technology (Bachelor)
• Previous position: President Director PT Terminal Petikemas Surabaya
• >22 years experience
Joko Noerhudha
Engineering Director
Toto Heli Yanto
Human Capital Director
• Education: Merdeka Surabaya University (Bachelor), Airlangga University (Masters)
• Previous position: General Manager of Tanjung Perak
• >20 years experience
Iman Rachman
Finance Director
• Education: Padjajaran University (Bachelor), Leeds University (Masters)
• Previous position: Finance Director of Pelindo II
• >21 years experience
LEADING PORT OPERATOR IN INDONESIA
COMPANY OVERVIEW
Pelindo III is a leading port operator in Indonesia, serving the fast growing regions of Central and Eastern Indonesia, focusing on both the domestic and international container market
(TEUs '000) CAGR (2015 – 2018) : 7.0%
Operates 3 out of the top 6 container ports in Indonesia
CARGO SERVICES (71%)
(2)SHIP SERVICES (15%)
(2)OTHER SERVICES (14%)
(2)Cargo handling services and provision of cargo storage and transportation facilities:
- Containerized - Dry Bulk
- Liquid Bulk - General Cargo
43 ports in some of the largest and fastest growing provinces Operating history of more than 57 years
Strategically important to the maritime development of Indonesia Gateway hub to Central and Eastern Indonesia
Complete range of ship services including:
- Pilotage - Towage
- Berthing Services
Complementary value added services, such as:
- Provision of fresh water - Electricity
- Medical services
- Other non port related services
Pelindo III’s container traffic
(1)(1) Based on internal estimates and excluding private ports and non-commercial government-owned ports (2) As a percentage of net revenue for 2018
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2,504 2,643 2,802 3,022
1,856 1,968 2,117 2,315
4,360 4,611 4,919
2016 2018
2015 2017
5,337
International Domestic
GROUP AND SHAREHOLDING STRUCTURE
COMPANY OVERVIEW
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4
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DIRECT SUBSIDIARIES
AFFILIATES
INDIRECT SUBSIDIARIES
Pelindo III is 100% owned by the Republic of Indonesia
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No changes in Company’s structure since May 2018
GATEWAY DOMESTIC AND INTERNATIONAL PORT
COMPANY OVERVIEW
Pelindo III’s main branch in Tanjung Perak serves as the gateway port for Surabaya (Indonesia’s second largest city), as the domestic hub for Central and Eastern Indonesia, and one of the key hub identified in the Sea Toll Program
Small Port
Ports that operated by Pelindo I-IV
Tanjung Emas
(TEUs thousand)Tanjung Perak
(TEUs thousand)Banjarmasin
(TEUs thousand)Other Ports
(TEUs thousand)(A) (B) (C)
984 1,058 1,158 1,058
243 261
310 335
24.7%
24.7% 26.8%
29.0%
1,191 1,487 1,577 1,577
608
615 634 675
51.1%
41.4% 40.2% 42.8%
2015 2016
Capacity
2017 Throughput
2018 Utilization
5,497 5,633 6,761 6,761
3,121 3,327 3,533 3,866
56.8%
59.1% 52.3% 57.2%
-
2,000 4,000 6,000 8,000 10,00 0 12,00 0
2015 2016
Capacity
2017 Throughput
2018 Utilization
619 619
825
687
388 408
422
461
62.8% 65.9% 51.1% 67.1%
2015 2016
Capacity
2017 Throughput
2018 Utilization
2015 2016
Capacity
2017 Throughput
2018 Utilization
8
103
TOTAL PORTS OF PELINDO I-IV
Pelindo III operate 43 ports
or 41.7% of the total ports that operated by Pelindo I-V
EVOLUTION OF PELINDO III TO A FULLY-FLEDGED COMMERCIAL PORT AGENCY
COMPANY OVERVIEW
1992
Formally incorporated as a limited liability company pursuant to Deed No. 5 dated December 1, 1992
1999
Pelindo III entered into a JV with DP World Asia
Holdings Limited (“DPW”) under 20 year concession ending 2019
2010
We pioneered the window system at Nilam Terminal at Tanjung Perak and TPKB at Banjarmasin
2012
We entered into two joint ventures with PT Usaha Era Pratama Nusantara (“UEPN”), a subsidiary of PT AKR
Corporindo (“AKR”) to develop and operate Java Integrated Industrial Port and Estate (“JIIPE”)
2013
ESTABLISHED
2014
Awarded 25 years
concession for Surabaya West Access Channel and established APBS
2015
Sea Toll Program Implementation
commenced operations of the
international container terminal
at Teluk Lamong
2016
Commenced operations of the domestic dry and liquid bulk terminal at JIIPE Port
2017
Achieved capacity of more than 10 million TEUs and close to 5 million TEUs throughput
2018 - 2022
Key future developments
•
Termination of Cooperation with DP World in TPS and TPS Equipment Port
•
Phase III of Teluk Lamong Terminal
•
JIIPE Project
•
New Gili Mas Terminal at port in Lembar (West Nusa Tenggara)
•
Expansion of Benoa port in Bali
2011
Pelindo III commenced the development of Teluk Lamong Terminal in order to reduce overcrowding at Tanjung Perak and to provide additional capacity
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*
* Syndicated Credit Facility has been repaid with Global Bond
in 2018
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13
14
Window’s Connectivity Port Activity Billing’s Innovation Synergy
15
16
17
18
19 19
20
21
(Rp Billions)
1,162 1,512
1,905 1,385 2,079
5,016 5,357 6,610 7,220 7,904
709 685
864 1,494 1,984
755 1,444
1,374 1,461 1,316
Other Ship Cargo
STRONG REVENUE GROWTH AND STABLE MARGINS
FINANCIAL HIGHLIGHTS
REVENUE PER SEGMEN
NET PROFIT EBITDA
(EBITDA in Rp Billions)
8,849 7,486
6,480
2015 2016 2017 2018
2015 2016 2017 2018
2015 2016 2017 2018
10,175
2,739 2,806 3,898 4,551 5,115
NET REVENUE
Plan 2019
Plan 2019
11.206
Plan 2019
6,479 7,485 8,849 10,175 11.206
2015 2016 2017 2018 Plan 2019
CAGR (2015 – 2018) : 19.6% CAGR (2015 – 2018) : 16.4%
CAGR (2015 – 2018) : 17.1%
CAGR (2015 – 2018) : 2.5%
Foreign
Loss 792 2,177
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Pelindo III’s revenue in 2018 is higher than the previous years
Losses are only due to foreign exchange loss
7,705 8,514 9,365 10,355
13,340
8,488 9,589 11,036
14,586
(Rp Billions)
2,618 1,816 2,751
4,612
3,309
18,971 22,440 25,751 30,506
34,974
HEALTHY BALANCE SHEET
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FINANCIAL HIGHLIGHTS
TOTAL ASSETS
TOTAL DEBT TOTAL EQUITY
(Rp Billions) (Rp Billions)
NET CASH
2015
Assets
Equity
2015
Total Debt
2015 2016 2017
Net Cash
Plan 2019 2016 2017
2016 2018 2015 2016 2017 2018
Plan 2019
Plan 2019
CAGR (2015 – 2018) : 21.2%
CAGR (2015 – 2018) : 17.8%
CAGR (2015 – 2018) : 22.5% CAGR (2015 – 2018) : 14.7%
2018
2017
2018
The highest net cash in 2018 compared to previous years
Increasing the amount of debt due to foreign exchange rate gap
RESILIENT CREDIT METRICS & PRUDENT DEBT MANAGEMENT
FINANCIAL HIGHLIGHTS
NET DEBT/EBITDA NET DEBT/EQUITY
DEBT PROFILE
(1)Net Debt/Equity Net Debt/EBITDA
6.9x
EBITDA/Finance Charges
(Rp Billions)
(1) As of 31 December 2018
(2) Current Maturity of Long Term Liabilities
