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)
Amidst a major devastating clout due to the pandemic, global economics has never been given up to recover. 2021 become the turning point for global trade and shipping which lead the world to be prosperous in post-COVID19.
Pelindo III with all its energy attempt to keep its performance as to become global port operator.
PT PELABUHAN INDONESIA III (PERSERO)
INVESTOR MEMO
Q1 2021
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OPERATIONAL PERFORMANCE
In the middle of uncertainty whether the COVID- 19 pandemic could be cured or not, many business sectors has collapsed. But, we stiil survive until now. And always try to give the best performance to our customers and stakeholders, it was undeniable that company recorded a decline in the first quarter of 2021.
Pelindo III Ships call in Q1 2021 have been recorded at 19,533 units while in Q1 2020 recorded at 19.703 unit or decreased 1%. Im Gross Tonage, Pelindo III ships call recorded at 78,159,730 GT or its decreased 4% if compared with the same periode in previous year as much 80.052.722. The flow of domestic ship was recorded at 56,5 million GT in first quarter 2021 and 56.6 GT in the previous year. while the flow of international ship was recorded at 23,4 million GT in quarter 1 2020 and decreased by 7% this year, bringing the number to 21.6 million GT. It was due to trade recovery trend, in particular solid bulk ship and rolling-on rolling-out ship in the first quarter of 2021.
Passenger flow was hit hard by the pandemic. Pelindo III has recorded a potent decrease on this sector, amount of 352,548 persons, decline by 51% compare to quarter 1 2020 at 719.885 persons. Foreign passenger took the bigger part, which Pelindo III recorded only 370 passengers, while domestic passengers at 352,178 person. It was due to the cancellation of holiday by the government as the part of COVID19 prevention as well as bad weather at Bali and Nusa Tenggara region.
The flow of goods within Pelindo III area was recorded at 12.217.588 ton or its decreased by 17% compared to the last period in the last year recorded at 16.694.904 ton. It was due to the increasing activity of general cargo and dry bulk both domestic and international in Terminal Jamrud and Terminal Nilam Mirah.
SHIP TRAFFIC (million GT)
Q12020 Q12021
78.2 80.1
2%
PASSENGER (person)
719.885
Q12020 Q12021
352.548
51%
GOODS (million ton)
Q12020 Q12021
12.2 16.7
17%
Despite the pandemic, in the first quarter of 2021, container traffic in Pelindo III area have rocketed by 4% or amount of 1,382,968 TEUs while in the lasted its recorded at 1.325.032 TEUs. In Box, Pelindo III container traffic also increased by 4% when compared to the previous year. in the first quarter of 2021, the flow of Pelindo III containers was 1,101,557 boxes while in the first quarter of 2020 it was recorded at 1,058,805 boxes. The flow of domestic container was recorded at 804,977 TEUs while in the previous year its recorded at 763.023 TEUs.
International container was at 577,991 TEUs in quarter 1 2021 and 562.009 in first quarter 2020. It was because of the international shipping and trade which start to recover, so that container could be shipped to the whole region like it was before.
International Domestic International Domestic
2021
577.991
804.977
2020
763.023
562.009
CONTAINER (TEUs)
Q12020 Q12021
1.325
CONTAINER (Box)
Q12020 Q12021
1.058 1.101
1.382
4% 4%
Expense (trillion IDR)
Q12020 Q12021
1.59 1.54
3%
FINANCIAL PERFORMANCE
As same as its operational performance, financial performance of PT Pelabuhan Indonesia III (Persero) was also hindered by the existence of COVID19. In general, the financial performance experienced a drop as it is explained in the following:
Net profit (trillion IDR)
Q12020
Q12021
233 -1,400
116%
Revenue (trillion IDR)
Q12020 Q12021
2.41 2.38
1%
Assets (trillion IDR)
Q12020 Q12021
32.89 32.19
2 %
Q12020
EBITDA (trillion IDR)
Q12021
1.173 1.118
5%
FINANCIAL PERFORMANCE
PT Pelabuhan Indonesia III (Persero) has accumulated operating revenue amount of 2,383 Trillion on the first quarter of 2021, and its mean that the operating revenue decrease by 1% compared with first quarter of 2020 as much as IDR 2,408 Trillion. Container service, ship service, and non-container service are the highest rank contributors to this revenue.
The revenue coming from container service was recorded at IDR 1,439 Billion, increased by 6% compare to previous year as much as IDR 1,355 Trillion. Ship service came to second with 270 Billion, inclined by 3%
compare to first quarter 2020 recorded at 261 Billion. While the non-container service have contributed as of IDR 259 Billion, rocketed by 5% compare to 2020 at the same period as much as IDR 245 billion.
On the other hand, operating expense spent by Pelindo III has increased compare to previous year. On the first quarter of 2021operating expense recorded at 1.59 Trillion while on the first quarter 2020 recorded at IDR 1.54 Trillion or increased by 3% if we compared.
The largest operating expense must be incurred by Pelindo III are, Third party expense, income expense and amortization and depreciation expense. On the Q12021, Third party expense recorded at IDR 402 billion its 9%
lower compared with the same periode on the 2020 at 442 billion. Income expense ranks second in the order of operating expenses to be incurred by Pelindo III.
Capital Expenditure
For the capital expenditure, until Q12021 PT Pelabuhan Indonesia III (Persero) recorded an investment realization of IDR 501 billion. Port buildings and facilities are the largest sector for investment during Q12021 amounting to 144 billion, then the road and building sector was recorded at IDR 131 billion and in the third position there are port equipment and facilities of IDR 59 billion.
based on the entity, the largest investment realization of PT Pelabuhan Indonesia III (Persero) was carried out by the Head Office with a nominal value of IDR 207 billion, followed by the Central Java Region which recorded investment realization of 68 billion and subsidiary Pelindo III with a total investment realization in Q12021 of IDR 63 billion.
27.6
244.163
0.114 13.5 59.4
131.3
12.4 4 8.2
Land Building and Port facility Vessel
Port facility equipment Port Facility instalment Road and building
Equipment Emplacement Intangible Assets
61.7
68.6
3.4 38.2
207.5 63.5
58
East Java Central Java Kalimantan Bali Head Office Subsidiaries Sub Subsidiaries
Recent Update
Considering to Ministerial Decree of Ministry of State Owned Enterprises Number SK-80/MBU/03/2021 in respect of discontinuance, task shifting and designation of the members of Director of PT Pelabuhan Indonesia III (Persero) on March, 15th, 2021 , Pelindo III undergone a change in the composition of the Board of Directors as follow,
President Director : Boy Robyanto
Operational and Commercial Director : Putut Sri Muljanto
Engineering Director : Kokok Susanto
Human Resource Director : Edi Priyanto
Financial Director : Endot Endrardono
Transformation and Bussiness Development Director : Yon Irawan
INVESTOR RELATIONS & CORPORATE GOVERNANCE
Phone : +62313298631 Fax : +62313295204 Web : www.pelindo.co.id
E-Mail : arif.prananda@pelindo.co.id
@Pelindo3 Pelindo III
@Pelindo3 Pelindo3
PT PELABUHAN INDONESIA III (PERSERO)
Investor Memo
Q1 2021
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.
