2020
PT PELABUHAN INDONESIA III
(PERSERO)
(Unaudited)
World Wide Smart Operator
PT Pelabuhan Indonesia III (Persero)
It has been more than a year, we have been forced to survive the Covid -19 pandemic that has hit the entire world.
We have done various things to survive. All companies have also made major adaptations and implemented new normal in order to survive.
And it must be admitted that these are not easy things, many of the companies have recorded a very worrying decline in performance, but PT Pelabuhan Indonesia III (Persero) should be grateful, because until now, although there has been a decline, it is not too significant .
SHAREHOLDER STRUCTURE 100% Owned BY Government of Republic Indonesia
GLOBAL BOND 1st Issuance
Date : October 1st 2014 Amount : USD 500 Million Tenor : 10 Year
Coupon : 4.5%
2nd Issuance Date : May 2nd 2018 Amount : USD 500 Million Tenor : 5 Year
Coupon : 4.5%
CORPORATE RATINGS
Moody’s : Baa3 (Stable) Fitch : BBB- (Stable) S&P : BBB- (Negative)
Investor Memo
Operational Performance
Similar to all companies in the world, the operational performance of PT Pelabuhan Indonesia III (Persero) in 2020 was greatly influenced by the Covid-19 Pandemic. However, Pelindo III is able to maintain its performance so that it does not decline too far.
For example, ship calls in the Pelindo III area in 2020 were recorded at 70,873 units, while in 2019, ship calls were recorded at 78,267 units. Meanwhile, when viewed from the Gross Tonage, ship calls in 2020 reached 284,050,723 GT, while in 2019 it was recorded at 304,254,594 GT. From this figure, it can be said that ship calls in the Pelindo III area have decreased about 7%. This decline was caused by the inadequate flow of ships carrying coal and liquid bulk carriers at ports in Kalimantan.
Ship Traffic (GT)
2019 2020
284.05 304.25
7%
Ship Traffic (Unit)
2019 2020
70.87 78.26
9%
Container (TEUS)
2019 2020
5.42 5.08 6%
Meanwhile, when comparing in 2019 and 2020, the flow of goods in Pelindo III has decreased by 13%. In 2019, the flow of goods reached 75,122,075 tons. While in 2020 this number decreased to 65,239,293 tons, this was due to a decrease in general cargo export and import activities at the Jamrud Terminal, a decrease in the realization of coal unloading activities at Gresik Port, a decrease in the import activities of raw sugar and Soya Bean Meal commodities at Tanjung Emas Port. , the decline in raw sugar and gympsum imports at the Port of Tanjung Intan and the decline in loading and unloading of coal and other types of palm oil derivative cargoes in the Kalimantan region.
The flow of containers in 2020 also decreased compared to 2019. In 2020, the flow of containers in TEUs was recorded at 5,080,686 TEUs, while in the previous year it was 5,427,408 TEUs, or it can be said that it decreased by 6%. Meanwhile, the flow of containers decreased by 7%, 4,370,693 boxes in 2019 and 4,048,422 boxes in 2020. When translated for Domestic and International Container flows in 2020 the flow of Domestic Containers was recorded at 2,924,309 TEUs while in 2019 amounted to 3,131,750 TEUs.
Meanwhile, the flow of international containers in 2020 was recorded at 2,156,377 TEUs, while in 2019 it reached 2,295,658 TEUs.
Goods (Ton)
2019 2020
65.23 75.12
13%
Passanger (Person)
2019 2020
2.71 1.60 41%
Livestock (Head)
2019 2020
101.6 128.5
21%
The flow of cattless in 2020 has also decreased when compared to the previous year. In 2019, the flow of cattless in Pelindo III was recorded at 128,561 head, while in 2020 the number decreased 21% to 101,683 heads. However, the biggest decline was the flow of passengers. The flow of Pelindo III passengers in 2019 was 2,710,195 people and decreased by 41% to 1,607,916 people in 2020.
3.131.750
2.295.658
Domestic International
2019
2.924.309
2.156.377
Domestic International
2020
Financial Performance
The financial performance of PT Pelabuhan Indonesia III (Persero) in 2020 was also affected by the Covid- 19 Pandemic. The net profit that was successfully recorded in 2020 was 1.206 trillion, while in 2019 the net profit of Pelindo III reached 2.129 trillion
Expense
(Trillion IDR)
2019 2020
6.668 7.034
5%
2019 2020
3.942 4.035
2%
Ebitda
(Trillion IDR)
Net Profit
(Trillion IDR)
2019 2020
1.209 2.129
43%
Assets
(Billion IDR)
2019 2020
32.407 30.755
5%
Revenue
(Trillion IDR)
2019 2020
9.264 9.775
5%
Equity
(Billion IDR)
2019 2020
542 787
45%
Financial Performance
Operating Revenues in 2020 were recorded at 9,264 Trillion, while in 2019 it was 9,775 Trillion or a decrease of 5%. Of the total revenue received by Pelindo III in 2020, the 3 biggest contributors to Pelindo III are Container Services, Ship Services and Non-Container Goods Services.
Container services in 2020 contributed 5,544 T or around 59.7% of the total revenue of Pelindo III.
Meanwhile, ship service revenue contributed as much as 1,021 T or 11% of Pelindo III's total revenue and Non-Container Goods Service Revenue contributed 9.8% of Pelindo III's total revenue or amounted to 911.9 billion.
The operating expenses to be incurred by Pelindo III in 2020 reached 6,668 T or decreased by 5% when compared to 2019 which reached 7,034 T. Third party resource expenses are the largest contributor to the burden that must be borne by Pelindo III in 2020, which reaches 1,630 or 23% of the total operating expenses. Meanwhile, in the second and third places are income expenses and depreciation and amortization expenses of 1,546 T and 1,346, respectively. or 23% and 20% of the total operating expenses to be borne by Pelind III
The Covid-19 pandemic has also forced us to make adjustments to the investment projects that we are currently working on and will be working on. Overall, in 2020 the total physical absorption of Pelindo III investment reached 2,457 Trillion.
The largest investment was made in Port Buildings and Facilities amounting to 1.289 trillion or 52% of the total investment value. Next is Roads and Buildings with total of 503 billion or 20.4% of the total investment value and in third place is the Port Facility Equipment of 325 billion or 13.2% of the total investment value.
The following is a highlight of several Pelindo III investment programs in 2020
Capital
Expenditure
Cruise and Container Wharf of Terminal Gilimas
Started since March 20, 2018 Cruise and Container Wharf has a contract value of Rp. 267.2 billion and it is expected could be completed in January 2020. Until the end of 2020 the progress of the Cruise Wharf and Container Terminal physical development reached 100%.
The construction has been started since April 2nd, 2018 with a contract value of Rp. 1.3 Trillion and it is expected could be completed in September 2020. Until the end of 2020 the progress of the construction physical development reached 88%.
Expansion of Passenger Terminal and Beautification’s Port of Benoa
This project has been started since April 9, 2018 with a contract value of Rp. 78 billion and it is expected could be completed in March 2020. Until the end of 2020 the progress of the physical development reached 97.5%
Flyover Terminal Teluk Lamong
2020
PT PELABUHAN INDONESIA III
(PERSERO)
INVESTOR MEMO
DISCLAIMER
This document containts certain financial information and result of operation, and may also contain certain projections, plans, strategies, and objectives of Pelindo III, that are not statements of historical fact which would be treated as forward looking statements within the meaning of applicable law. Forward looking statements are subject to risks and uncertainties that may cause actual events and Pelindo III future results to be materially different than expected or indicated by such statements. No Assurance can be given that the results anticipated by Pelindo III, or indicated by any such forward looking statements will be achieved.
The financial information provided herein is based on Pelindo III consolidated financial statements in accordance with Indonesian Financial Accounting Standards.
INVESTOR RELATIONS & CORPORATE GOVERNANCE
Phone : +62313298631 Fax : +62313295204 Web : www.pelindo.co.id
E-Mail : arif.prananda@pelindo.co.id
