PT Acset Indonusa Tbk Performance Update Q3 2017 Integrated Construction Company
Disclaimer The material in this presentation has been prepared by PT Acset Indonusa Tbk (ACSET) and is general background information about ACSET activities current as at the date of this presentation and are subject to change without prior notice. This information is given in summary form and does not purport to be complete. Information in this presentation, including forecast financial information, should not be considered as advice or a recommendation to investors or potential investors in relation to holding, purchasing or selling securities or other financial products or instruments and does not take into account your particular investment objectives, financial situation or needs. Before acting on any information you should consider the appropriateness of the information having regard to these matters, any relevant offer document and in particular, you should seek independent financial advice. This presentation may contain forward looking statements including statements regarding our intent, belief or current expectations with respect to ACSET business and operations, market conditions, results of operation and financial condition, capital adequacy, specific provisions and risk management practices. Readers are cautioned not to place undue reliance on these forward looking statements, past performance is not reliable indication of future performance. ACSET does not undertake any obligation to publicly release the result of any revisions to these forward looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events. We disclaim any responsibility or liability whatsoever arising which may be brought or suffered by any person as a result of acting in reliance upon the whole or any part of the contents of this report and neither ACSET and/or its affiliated companies and/or their respective employees and/or agents accepts liability for any errors, omissions, negligent or otherwise, in this report and any inaccuracy herein or omission here from which might otherwise arise. 2
Contents Company Profile Business Profile & Operations Business Strategy & Updates Financial Highlights 3
Company Profile 4
Overview Indonesia s Leading Integrated Construction Company PT Acset Indonusa Tbk ( ACSET ) is an integrated construction company, providing technical and construction services in foundation, building, civil engineering, infrastructure and ground engineering specialist works. ACSET is one of the few construction groups in Indonesia with the capability to provide services that spans across the entire value chain, and even been able to diversify ACSET's business lines in high-rise controlled-demolition business and infrastructure-related works. Our niche is in our capability to integrate the specialist works and general construction works effectively to produce the most efficient and cost effective construction; and this differentiates us from others. 5
Major Milestones 1995 Established as PT Acset Indonusa as foundation specialist 2008 Develop competences in civil works (Tanjung Jati B Unit 3&4 Power Plant Project) 2012 Develop competences in Design & Build (Setiabudi Sky Garden Apartment Project) 2015 Acquired by Astra Group the biggest conglomerate in Indonesia 2016 Commenced First Limited Public Offering/Rights Isuse 2001 Develop first competence in structure works in Surabaya 2006 Develop competences in complex high-rise structure (Pacific Place Project) and heavy marine foundation (Suramadu Bridge Project) 2011 ISO 9001, OHSAS 18001 & ISO 14001 Certified 2013 Company s Initial Public Offering (listed Company in Indonesia) and develop competences in civil works for silo (the largest: Silo Gresik Tuban IV) 2015 Develop competences in high rise controlled demolition (26 floors & 18 floors) Trusted to construct the highest building (Thamrin 9 project, 72 floors, 6 basements) Trusted to construct deepest bored piling works (Indonesia 1 Project 92m, 7 basements) Develop competences in toll-road related projects (Astra Group Project) 2017 6 Trusted to construct crucial infrastructure Paparan Publik work Bursa Efek Indonesia 2 Agustus 2016 6 (Jakarta-Cikampek II Elevated Toll Road)
Part of Indonesia s Largest Business Group Manufacture & Distribution (Market Share 56% for cars and 74% for motorcycles) Banking, general and life insurance, leasing company Construction Machinery Market Leader (37% market shares) Mining Contracting Market Leader (48% market shares) CPO producer, 761.900 ton per Q2 2017 Concession: toll-road, clean water and port An Integrated Construction Company for Foundation, Structures, Infrastructures Coal Mining Coal reserved 392mil ton per 2016 IT Hardware, software, consulting and document solution Energi PLTU PAMA (2 x 15MW)& PLTU Tj. Jati 5&6 (2 x 1000MW) Property developer and building management *Source: Data per Q2 2017, except for UT coal reserved *PT Astra International Tbk is publicly listed company in Indonesia with Rp361 Trillion market capitalization *PT 7United Tractors Tbk is publicly listed company in Indonesia with Rp102,4 Trillion market capitalization *PT Acset Indonusa Tbk is publicly listed company in Indonesia with Rp2,1 Trillion market capitalization 7
Shareholding Structure 100.0% Karya Supra Perkasa 0.1% 99.9% 99.9% 84.0% Aneka Raya Konstruksi Mesindo (ARKM) Acset Pondasi Indonusa Innotech System 0.01% Tower Crane & Passenger Hoist Rental Foundation & Specialist Works Formwork Sales, Rental & Contractor 50.1% 92.3% Sacindo Machinery Sales & Rental of Heavy Equipment 100.0% Acset Indonusa Co., Ltd. (Vietnam) Foundation & General Contractor 55.0% ATMC Pump Service Concrete Pumping Services 49.9% 60.0% 40.0% Bintai Kindenko Engineering Indonesia Mechanical, Electrical & Plumbing (MEP) Contractor Public DII Dredging International Indonesia (As of, 05 October 2017) Dredging, Reclamation, Port and Marine Works 8
On-Going Projects Bakauheni-Sidomulyo Toll Road, Lampung Mixed-use development Kebon Sirih, Jakarta The Stature, Jakarta Sedayu City, Kelapa Gading, Jakarta Millenium Centennial Tower, Jakarta PLTU Jepara, Central Java Grand Mansion, Jalan Borobudur, Jakarta Soil Improvement Work, Batang, Central Java Green Sedayu, Jakarta Foundation Construction Infrastructure West Vista, Jakarta Puri Mansion Apartment Flyover, Jakarta Tol JORR II, Ruas Kunciran- Serpong Menara Tendean, Jakarta Toll Depok - Antasari, Jakarta Thamrin Nine, Jakarta Lot 28, SCBD Langham Lot 13, SCBD Jakarta-Cikampek II Elevated Toll Road, Jakarta LRT Cawang - Bekasi Timur Indonesia 1 Tower New Plant Surya Cipta PT. IPPI 9
Management ACSET is managed by a dedicated professional, experienced team. BOARD OF COMMISSIONERS BOARD OF DIRECTORS GIDION HASAN President Commissioner JEFFREY GUNADI CHANDRAWIJAYA President Director YOHANES EKA PRAYUDA Director DAVID IMAN SENTOSA Commissioner TAN TIAM SENG RONNIE Vice President Director ELLYJAWATI Director TJANDRAWATI WAAS Independent Commissioner HILARIUS ARWANDHI Director As of AGMS 2017 decision, 10 April 2017 HERJADI BUDIMAN Independent Director 10
Organizational Structure Executive Committee Audit Committee Nomination & Remuneration Committee Board of Commissioners Board of Directors Corporate Secretary & Legal Corporate Audit & Risk Tender Procurement Project Control Finance Director HC & Operation Support Director Operation Director System & Company Culture Director Finance, Accounting & Tax Division Human Capital Safety, Health & Environment Foundation & Soil Improvement Building & Civil System & Company Culture Management Information & Technology GA, SR & Security Plant & Facility Infrastructure Contract Engineering Quality Assurance & Engineering 11
Business Profile & Operations 12
Areas of Expertise Demolition Works Foundation Works General Building Works Infrastructure Works Marine Works M A I N E x P E R T I S E Controlleddemolition with minimal impact to project surroundings Geotechnical Works Bored Pilling & Diaphragm Wall Waterproofing & Driven Pilling Pre-Stressing/Post- Tensioning High rise and complex building structure Civil engineering related works that include but not limited to: Toll Roads Power Plants Inter-island bridges Dredging Reclamation S U P P O R T I N G Subsidiary complementing expertise include: Mechanical, Electrical & Plumbing Works Construction Heavy Equipment Sales and Rental (Tower Crane/ Concrete Pump/Passenger Hoist) Slip Forming/Formwork System DII
Demolition Works CIMB Niaga & Sequis Office Building, Jakarta 14
Bored Piling & Diaphragm Wall Thamrin Nine Project Indonesia 1 Project 15
General Building Works Residence 8 Project Centennial Tower Project 16
Infrastructure Works Construction of Toll Gate, Cilegon Barat Construction of Additional Transaction Line, Balaraja Timur Kertosono Mojokerto Toll Road Kertosono Mojokerto Toll Road 17
Infrastructure Works (2) Tanjung Jati Power Plant Unit 3 & 4 Toll Gate of Kertosono - Mojokerto Toll Road Tanjung Jati Power Plant Unit 3 & 4 18
Marine Works Approach Bridge Suramadu Approach Bridge Suramadu Approach Bridge Suramadu 19
Slipforming & Formwork System Silo of PT Semen Indonesia Tuban IV Silo of Bosowa Mataram 20
Current Project Portfolio: Foundation Projects 1. Indonesia 1, Jakarta 2. Millenium Centennial Tower, Jakarta 3. Taman Anggrek Residences, Jakarta 4. Mangkuluhur City, Jakarta 5. SBCD Lot 10, Jakarta 6. Thamrin Nine (phase I-II), Jakarta 7. St. Regis, Jakarta 8. Bahana Office Tower, Jakarta 9. District 8 Senopati, Jakarta 10. Sahid Sudirman Center, Jakarta 11. Botanica Residences, Jakarta 12. Pakubuwono House, Pakubuwono Signature, and Pakubuwono House, Jakarta 13. Ciputra World, Jakarta 14. Gandaria City, Jakarta 15. Pacific Place, Jakarta 16. Plaza Sudirman, Jakarta 17. Pasar Tanah Abang (blocks A and B), Jakarta 18. Estella Residential Development Project, Ho Chi Minh City, Vietnam 19. Approach bridge of Suramadu Bridge, East Java 20. Plaza Ambarukmo, Yogyakarta 21. Soil Improvement Work (Central Java Project), Batang 22. Mixed-use Development Kebon Sirih, Jakarta 23. Menara Tendean 24. Bored Pile Toll Depok - Antasari 25. LRT Cawang - Bekasi Timur 18 2119 20 3 1 22 17 23 10 6 2 13 25 8 5 9 14 7 15 11 4 24 16 12 21
Current Project Portfolio: Structural Projects 1. Indonesia 1, Jakarta 15. BG Junction Supermall Pakuwon, 2. Millenium Centennial Tower, Jakarta Surabaya 16. Supermall PTC Pakuwon Indah, 3. Thamrin Nine, Jakarta Surabaya 4. District 8 Mixed-Use and Langham Tower Development, Jakarta 17. Sun Plaza, Medan 18. Tunjungan Plaza IV, Surabaya 19. Artotel Sanur, Bali 5. Equity Tower, Jakarta 20. TS Suites Hotel and Mall Town 6. Kota Kasablanka (phase I-II), Jakarta Square, Bali 21. Alila Seminyak Resort, Bali 7. Gandaria City, Jakarta 22. Millenium Centennial Center, 8. Pacific Place, Jakarta Jakarta 9. New British Embassy, Jakarta 23. Grand Mansion Borobudur, 10. West Vista Apartment, Jakarta Jakarta 11. Hotel Harris and Yello, Jakarta 12. Pakubuwono Signature and Pakubuwono House, Jakarta 13. Residence 8 @ Senopati Office and Apartment, Jakarta 14. Astra Business Centre, Tangerang 17 10 14 15 18 19 16 20 21 11 1 3 2 22 23 5 6 4 7 8 12 13 9 22
Current Project Portfolio: Civil & Infrastructure 4 3 18 17 12 1 16 2 11 14 15 13 5 9 10 8 6 7 1. Tanjung Priok Access Road (phase II), Jakarta 12. Construction of toll gate and transaction line, Balaraja 2. Blending silo of PT Semen Gresik Rembang, Central Java Timur and Cilegon Barat, Banten 3. Silo, Packer, and Pen Building of PT Semen Indonesia, East Kalimantan 13. Construction of toll gate and office building of Kertosono-Mojokerto toll road, East Java 4. Port and packing plant, Pontianak 14. Construction work for additional rows of Manyaran- 5. Silo of PT Semen Indonesia Tuban II and IV, East Java Jatingaleh toll road, Central Java 6. Silo of Semen Banjarmasin, South Kalimantan 15. Construction of Semarang-Solo toll road (phase I), 7. Silo of Bosowa Mataram, West Nusa Tenggara Semarang-Bawen row (sect. II), Central Java 8. Silo of PT Semen Gresik Banyuwangi, East Java 16. Jakarta-Cikampek II Elevated Toll Road, Jakarta 9. BP Conveyor 604, East Java 17. Terbanggi Besar-Kayu Agung Toll Road, Lampung 10. Foundation construction of PT Semen Gresik, East Java 18. Bakauheni-Sidomulyo Toll Road, Lampung 11. Tanjung Jati B Power Plant expansion project (2 x 660 MW), units 304, Central Java 23
Current Project Portfolio: Demolition Projects 1. CIMB Niaga & Sequis Office Building, Jakarta 2. International Financial Center Tower II Car Park, Jakarta 1 2 24
Current Project Portfolio: MEP Projects 4 1. Mixed Use Development Indonesia 1, Jakarta 2. Jakarta MRT Project 4 stations (Bundaran Senayan, Istora Senayan, Bendungan Hilir and Setiabudi) 3. Hotel Harris & Yello, Jakarta 4. Bintan Residence 3 1 2 25
Financial Highlights 26
Annual Revenue by Sector, 2013-2017 (37%) 2013-2016 (in % breakdown) (47%) (33%) (3%) (3%) (2%) (2%) (19%) Q3 2016-Q3 2017 (in % breakdown) 44 (3%) 84 (4%) 36 (3%) 309 (24%) 1,036 (53%) (63%) (53%) (62%) (76%) 901 (70%) 168 (9%) 657 (34%) 2013 2014 2015 2016 Q3'16 Q3 '17 Construction Sector Foundation Sector Construction Sector Foundation Sector Infrastructure Others Infrastructure Others 27
Net income (IDR billion) Net Income, 2013-Q3 2017 120 Net Income, 2013-Q3 17 (in IDR billion) 100 99 105 111 80 60 68 40 20 42 40 0 2013 2014 2015 2016 Q3 '16 Q3 '17 28
Financial Highlights, 2013 Q3 2017 In IDR million 2013 2014 2015 2016 Q3 16 Q3 17 Net revenue 1,014,502 1,350,908 1,356,868 1,794,002 1,290,440 1,945,104 Gross profit 207,686 248,939 224,374 279,639 202,009 318,900 Gross profit margin 20.5% 18.4% 16.5% 15.6% 15.7% 16.4% Operating profit 152,919 176,710 130,915 182,096 118,600 216,759 Operating profit margin 15.1% 13.1% 9.6% 10.2% 9.2 % 11.1% Net income 99,358 104,690 41,917 68,329 40,291 111,275 Net income/share (full amt.) 199 209 84 111 70 159 Total assets 1,298,358 1,473,649 1,929,498 2,503,171 2,798,897 4,739,560 Total equity 560,443 645,117 664,859 1,301,225 1,276,859 1,397,511 29
New Contracts 2013-Q3 2017 7,153 3,773 3,088 2,499 1,621 606 2013 2014 2015 2016 Q3 16 Q3 17 Notable New Contracts, Q3 2017 as follows: Toll Jakarta Cikampek II Elevated Project Toll Bakauheni Sidomulyo Project Toll JORR II Kunciran Serpong Project Others: Soil Improvement Work (Central Java Project) Mixed-Use Development (Kebon Sirih) Bored Pile St. Regis Menara Tendean PLTU Jepara 96% Foundation 4% Q3 2017 Infrastructure 30
Order Book (In Billion Rupiah) New Contract (2,499) Order Book (5,636) Carry Over (3,137) New Contract (7,153) Order Book (12,267) Carry Over (5,114) Revenue (1,290) Revenue (1,945) Q3 2016 Q3 2017 31
Business Strategy & Updates 32
Our Strong Foundation Our competitive advantages set us apart from our competitors. Integrated The only construction company in Indonesia capable of undertaking works from deepest foundation and basement to high-rise structures (integrated) Experience More than 22 years of experience Competitive One of the leading building, foundation, and diaphragm wall specialist contractors in Indonesia Branding Brand recognition in prestigious and high-end projects with wide client base Management Experienced and dedicated management team Wide range of capabilities Capable in handling a wide spectrum of projects Leveraging network Leverage our nation-wide network through being a member of United Tractors and Astra Group Strong Financial Capability Backed up by robust financial capability as a member of United Tractors and Astra Group 33
Business Strategy Put forward safety and quality principles as differentiation factors of the Company Diversification to infrastructure and soilimprovement works Establish strategic alliance both with Astra Group network and external parties Strengthen competences and value chain, actively seek for new opportunities and compete in fairly 34
Building Trust and Partnership PT Acset Indonusa Tbk. ACSET Building Jalan Majapahit no. 26 Petojo Selatan, Jakarta Pusat 10160 Indonesia www.acset.co ACSET is a publicly listed company in the Indonesia Stock Exchange (IDX: ACST). 35