PT Austindo Nusantara Jaya Tbk
Company Presentation
Achieving Success Through Principle Centered Management
PT Austindo Nusantara Jaya Tbk
Company Presentation
Achieving Success Through Principle Centered Management January 2014
PT Austindo Nusantara Jaya Tbk PT Austindo Nusantara Jaya Tbk - - PowerPoint PPT Presentation
PT Austindo Nusantara Jaya Tbk PT Austindo Nusantara Jaya Tbk Company Presentation Company Presentation Achieving Success Through Principle Centered Management Achieving Success Through Principle Centered Management January 2014 Disclaimer
Achieving Success Through Principle Centered Management
Achieving Success Through Principle Centered Management January 2014
2 This presentation has been prepared by PT Austindo Nusantara Jaya Tbk (“ANJ” or “Company”) for informational purposes, and may contain projections and forward looking statements that reflect the Company’s current views with respect to future events and financial performance. These views are based on current assumptions which are subject to various risks and which may change over time. No assurance can be given that future events will occur, that projections will be achieved, or that the Company’s assumptions are correct. Actual results may differ materially from those projected. A prospective investor must make its own independent decision regarding investment in securities. Opinions expressed herein reflect the judgment of the Company as of the date of this presentation and may be subject to change without notice if the Company becomes aware of any information, whether specific to the Company, its business, or in general, which may have a material impact on any such opinions. The information is current only as of its date and shall not, under any circumstances, create any implication that the information contained therein is correct as of any time subsequent to the date thereof or that there has been no change in the financial condition or affairs of ANJ since such date. This presentation may be updated from time to time and there is no undertaking by ANJ to post any such amendments or supplements on this presentation. The Company will not be responsible for any consequences resulting from the use of this presentation as well as the reliance upon any opinion or statement contained herein or for any omission.
Section 1 Company Overview 4
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6
7 Section 2 Business Profile 9
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17 Section 3 Operational Highlights 19
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32 Section 4 Financial Highlights 33
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3
4
1,200/share.
5
PROFILE BUSINESS
e.g. tobacco, power generation.
Notes 1. MDN is owned by George Tahija and his associates 2. AKJ is owned by Sjakon Tahija and his associates 3. Yayasan Tahija is a charitable organization for which Sjakon Tahija acts as governor and George Tahija as comptroller 4. ANJA holds 99.998% and the remaining 0.002% is held by SMM 5. Remaining shares are held by ANJ 6. ANJA holds 99.95% and the remaining 0.05% is held by SMM 7. PI holds 95% and ANJ holds 1%
Oil Palm Plantation Sago Others
ANJA
North Sumatra Plantation I
(99.996%) ANJAS(4)
North Sumatra Plantation II
(99.998%) SMM(5)
Belitung Island Plantation
(99.996%) KAL(6)
West Kalimantan Plantation
(99.95%) AANE
Biogas Project
(98.99%) DGI(9) (99.998%) PJP(10) (14.28%) CGSS(9) (5.00%) ANJAP (8)
Papua Sago Project
(99.50%) LSP (51%) GSB(5)
South Sumatra Landbank (95.00%)
PPM (5)
Papua Landbank
(95.00%) PMP (5)
Papua Landbank
(95.00%) GMIT
Tobacco Processing
(99.99%) MLII (11.88%) PMN(11) (99.999%) PI (20.00%) ATI (99.998%) AM (15.87%) SSM(7) SM (99.996%) SKPI BP 95.00% 20.00% 20.00% MDN(1) (40.31%) AKJ(2) (40.31) George Tahija (4.69%) Sjakon Tahija (4.68%) Yayasan Tahija(3) (<0.1%) Operating Oil Palm Plantations
8. ANJ holds 99.5% and the remaining 0.5% Is held by SMM 9. Project collaboration with Chevron
Oil Palm Minority Investments
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Public (10.00%) BOGA (99.999%)
An Average of Over 25 Years of Plantation Experience
Achmad Hadi Fauzan Director, ANJ
agribusiness experience
Corporate Affairs at PT Sampoerna Agro Tbk Istini Tatiek Siddharta Deputy President Director, ANJ
and finance experience and 13 years with ANJ
Siddharta & Harsono, a member firm of KPMG Sucipto Maridjan Director, ANJ
experience in resource- based administrative management and 15 years with ANJ Suwito Anggoro President Director, ANJ
management experience
and President Commissioner
Indonesia Handi Syarif Operational Director, ANJ Agri Papua
and supply chain management experience in multinational consumer goods and logistics industry Geetha Govindan President Director, ANJ Agri
in the palm oil industry in Indonesia and Malaysia
January 2014 Aloysius D’Cruz Estate Director, ANJ Agri
experience
Laos plantation, a subsidiary of Aditya Birla Group
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various industries such as finance, oil and gas, shipping and palm oil Bambang Soerjanto President Director, PPM & PMP
Reksohadiprodjo Independent President Commissioner
since July 1996 and President Commissioner since September 2003
Televisi Indonesia (Metro TV)
Copper & Gold Inc and former Commissioner of PT Freeport Indonesia Sjakon G. Tahija Commissioner
since 1985
and founder of Klinik Mata Nusantara George S. Tahija Commissioner
for more than 20 years
School, University of Virginia, member of the Board of Supervisors of Endeavor Indonesia, as well as Founder and Chairman of the Coral Triangle Center Arifin M. Siregar Independent Commissioner
Commissioners since April 2001
Airfast Indonesia and a member of the Board of Commissioners of PT Cabot Indonesia
Indonesia, Minister of Trade and Indonesian Ambassador to the United States of America Istama T. Siddharta Commissioner
Commissioners since July 2004
Director of PT Amalgamated Tricor
Siddharta, Siddharta & Widjaja, a member firm of KPMG Anastasius Wahyuhadi Commissioner
in January 2006
member of a number of ANJ’s subsidiaries & associates as well as multinational and national companies in Indonesia
ANJ in March 2012
Centre for Strategic and International Studies Foundation
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Josep Kristiadi Independent Commissioner
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KALIMANTAN PAPUA SUMATRA
Medan Jakarta
JAVA SULAWESI
Landbank 16,307 ha Plantable area 14,229 ha Planted area 14,229 ha Mature area 14,229 ha Conservation 1,348 ha Mill Capacity 60 MT/hr Average age 17.0 years Landbank 65,159 ha (4) Plantable area (2) 40,500 ha Planted area
17,998 ha Plantable area (5) 12,030 ha Planted area 11,096 ha Mature area
5,545 ha Mill Capacity 60 MT/hr in 2016 Average age 1.2 year
TOTAL
Landbank 139,038 ha Plantable area (2) 96,526 ha (3) Planted area 43,050 ha Mature area 31,954 ha Conservation 11,989 ha Mill Capacity 180 MT/hr Average age 11.9 years
PT Galempa Sejahtera Bersama (“GSB”)
Landbank 20,000 ha Plantable area (2) 12,042 ha (3) Planted area
3,457 Mill Capacity
Agri Siais (“ANJAS”)
Landbank 9,639 ha Plantable area 7,912 ha Planted area 7,912 ha Mature area 7,912 ha Conservation 1,639 ha Mill Capacity 60 MT/hr Average age 6.0 years
PT Austindo Nusantara Jaya Agri (“ANJA”)
Landbank 9,935 ha Plantable area 9,813 ha Planted area 9,813 ha Mature Area 9,813 ha Conservation
60 MT/hr Average age 18.6 years
Notes
study and land compensation process)
Areas of new plantings
PT Sahabat Mewah dan Makmur (“SMM”) PT Permata Putera Mandiri (“PPM”) PT Putera Manunggal Perkasa (“PMP”) PT Kayung Agro Lestari (“KAL”)
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11
11
18 65
20 30 40 50 60 70 Sumatra Kalimantan Papua In '000 hectare
Landbank As of 9M13
Immature Mature Planted Landrights
40 60 80 100 120 140 Landrights Plantable area Planted area Mature area 54 44 33 29 54 44 37 30 139 97 41 32 139 97 43 32 In '000 hectare
Landbank
2010 2011 2012 9M13
compensation for 57,674 ha as of 9M13.
ha.
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BORNEOPapua Sago & Palm Oil Project
INDONESIA
Papua Kalimantan Sumatra Java
Oil Palm Plantation Area Sago Area
harvesting.
palm oil
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What is Sago?
years
Terminology
“Rosette”
1
“Cluster”
2
“Trunk”
3
“Logs”
4 Uses of Sago
Industrial Ethanol
Food Industrial
Sago – sustainable and natural production model minimizes production costs
West Papua, Indonesia
developed by ANJ
rosette to flowering stage
the same time
expandable to 5,000 tons/mth
stage) will be harvested
starch 1 2 3 4 5 6
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Payback Period and ROI
Profit Margin
Vertical Integration Cost
Pricing Structure
areas
Tree Characteristics 1 3 4 5 6
Estate Management 2
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Island was completed in 2012.
PLN in November 2012.
known as IULPTL (previously IUKU) and is now a licensed independent power producer (IPP).
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plantation in 3Q 2013.
but still trailing result in 3Q 2012.
2012.
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Operating Plantation
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100,000 150,000 200,000 250,000 1Q 2010 2Q 2010 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 4Q 2011 1Q 2012 2Q 2012 3Q 2012 4Q 2012 1Q 2013 2Q 2013 3Q 2013 In tonnes
FFB Production - Internal
ANJA SMM SIAIS Combined
100 150 200 250 1Q 2010 2Q 2010 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 4Q 2011 1Q 2012 2Q 2012 3Q 2012 4Q 2012 1Q 2013 2Q 2013 3Q 2013 83 105 162 173 140 144 144 137 125 169 216 186 136 149 174 In '000 tonnes
FFB Production - Internal
adverse weather conditions. Production in 9M13 declined 8.42% YoY to 190,856 ton.
production volumes. In 2Q13 the production level began to recover but remain lower year on year.
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20,000 30,000 40,000 1Q 2010 2Q 2010 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 4Q 2011 1Q 2012 2Q 2012 3Q 2012 4Q 2012 1Q 2013 2Q 2013 3Q 2013 In tonnes
FFB Purchased from third parties
ANJA SMM SIAIS Combined
10 15 20 25 30 35 40 1Q 2010 2Q 2010 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 2Q 2012 3Q 2012 4Q 2012 1Q 2013 2Q 2013 3Q 2013 7 23 24 24 31 36 25 34 33 25 21 36 33 In '000 tonnes
FFB Purchased from third parties
decreased 1.68% YoY.
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20 30 40 50 60 1Q 2010 2Q 2010 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 4Q 2011 1Q 2012 2Q 2012 3Q 2012 4Q 2012 1Q 2013 2Q 2013 3Q 2013 21 28 40 43 39 40 40 38 33 44 55 46 35 39 45 in '000 tonnes
Volume of CPO Production
20,000 30,000 40,000 50,000 60,000 1Q 2010 2Q 2010 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 4Q 2011 1Q 2012 2Q 2012 3Q 2012 4Q 2012 1Q 2013 2Q 2013 3Q 2013 In tonnes
Volume of CPO Production
ANJA SMM SIAIS Combined
decreased 9.84% YoY.
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decreased 10.23% YoY.
4,000 6,000 8,000 10,000 12,000 14,000 1Q 2010 2Q 2010 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 4Q 2011 1Q 2012 2Q 2012 3Q 2012 4Q 2012 1Q 2013 2Q 2013 3Q 2013 In tonnes
Volume of PK Production
ANJA SMM SIAIS Combined
4 6 8 10 12 14 1Q 2010 2Q 2010 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 4Q 2011 1Q 2012 2Q 2012 3Q 2012 4Q 2012 1Q 2013 2Q 2013 3Q 2013 5 6 9 10 8 9 9 9 8 10 13 11 8 9 10 in '000 tonnes
Volume of PK Production
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22.76% 21.77% 22.33% 22.36% 22.55% 21.40% 21.99% 20.50% 21.00% 21.50% 22.00% 22.50% 23.00% 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13
OER
Internal 17.00% 19.00% 21.00% 23.00% 25.00% Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13
OER
ANJA SMM SIAIS Combined 5.14% 4.92% 5.11% 5.10% 4.99% 4.86% 5.04% 4.70% 4.80% 4.90% 5.00% 5.10% 5.20% 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13
KER
Internal 2.00% 3.00% 4.00% 5.00% 6.00% Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13
KER
ANJA SMM SIAIS Combined
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20,000 30,000 40,000 50,000 60,000 1Q 2010 2Q 2010 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 4Q 2011 1Q 2012 2Q 2012 3Q 2012 4Q 2012 1Q 2013 2Q 2013 3Q 2013 In tonnes
CPO Sales Volume
ANJA SMM SIAIS Combined
20 30 40 50 60 1Q 2010 2Q 2010 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 4Q 2011 1Q 2012 2Q 2012 3Q 2012 4Q 2012 1Q 2013 2Q 2013 3Q 2013 20 25 44 38 41 43 35 36 38 42 46 50 39 45 44 In '000 tonnes
CPO Sales Volume
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10,000 15,000 1Q 2010 2Q 2010 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 4Q 2011 1Q 2012 2Q 2012 3Q 2012 4Q 2012 1Q 2013 2Q 2013 3Q 2013 In tonnes
PK Sales Volume
ANJA SMM SIAIS Combined
4 6 8 10 12 1Q 2010 2Q 2010 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 4Q 2011 1Q 2012 2Q 2012 3Q 2012 4Q 2012 1Q 2013 2Q 2013 3Q 2013 4 5 9 11 8 8 8 9 8 11 12 10 8 9 10 In '000 tonnes
Palm Kernel Sales Volume
decreased 17.7% YoY.
minus Transport Cost to Belawan, Bulking & Docs, Export Tax, Freight Costs). Average premium obtained ~USD 30/mt.
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835 870 790 658 670 698 679 471 459 386 303 302 337 354 200 400 600 800 1000 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 In USD/mt
Average Sales Price Ex-mill
CPO PK 500.00 600.00 700.00 800.00 900.00 1,000.00 1,100.00 1,200.00 In USD/mt
CPO Price Rotterdam Benchmark vs. Actual
Rotterdam Benchmark Ex-mill
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Planting Progress Total land planted 3Q13: 43,050 ha FY12: 40,852 ha
total area of 12,030 ha.
First nursery is prepared and land clearing will start soon.
will be calibrated and transport logistics established will take about 6 months.
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First Mill Construction Progress
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AANE
delay on importation, expected to complete and start electricity production at the end of November.
DGI
extensive series on the whole machineries by the Operator.
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Minority Interest in Palm Oil Energy Tobacco
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In USD (thousands) 9M13 9M12 Diff % Income 114,491 141,899 (27,408)
Expenses 92,096 93,237 (1,141)
Income before tax 22,395 48,662 (26,267)
Net income from continuing operations 14,010 34,459 (20,449)
Net income from discontinued operations
(56,703)
Net income for the year 14,010 91,162 (77,152)
Non controlling interest 12 2,359 (2,347)
Net income attributable to company owners 14,022 88,803 (74,781)
EBITDA 26,220 52,213 (25,993)
EBITDA margin 24.90% 40.80%
9M13 9M12 FY12 105.2 127.9 165.9 71.4 66.3 88.2 33.8 61.6 77.6 26.2 52.2 63.3 14.0 34.5 42.0 In USD million
Financial Highlights
Revenues Cost of revenues Gross profit EBITDA Net income
decline of 19.3% YoY.
continuing operations was USD 14.0mn, down 59.3% YoY.
depressed CPO prices and lower than expected production volumes.
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1Q13 2Q13 3Q13 1Q12 2Q12 3Q12 Income 35,483 39,864 39,144 41,245 49,269 51,385 Expenses 29,560 32,419 30,117 29,886 33,286 30,065 Income before tax 5,923 7,445 9,027 11,359 15,983 21,321 Net income from continuing operations 3,839 4,887 5,284 8,178 10,937 15,344 Net income from discontinued operations
3,839 4,887 5,284 64,881 10,937 15,344 Non controlling interest 2 2 8 2,360 (2)
3,840 4,890 5,292 62,521 10,939 15,344 EBITDA 8,742 8,079 9,401 13,803 18,134 20,277 EBITDA margin 26.30% 22.20% 26.40% 36.50% 39.80% 45.50% 2013 2012 In USD (thousands)
1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 37.8 45.5 44.6 38.0 33.2 36.5 35.6 21.2 25.1 20.0 21.9 22.0 25.7 23.6 16.6 20.4 24.5 16.1 11.2 10.7 12.0 13.8 18.1 20.3 11.4 8.7 8.1 9.4 8.2 10.9 15.3 7.5 3.8 4.9 5.3 In USD million
Financial Highlights
Revenues Cost of revenues Gross profit EBITDA Net income 85% 90% 95% 100% 9M13 9M12 91.9% 92.7% 5.6% 3.9% 2.5% 3.5%
Revenues
Palm oil and palm kernel Tobacco Service concession revenue
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In USD (thousands) 9M13 FY12 A Diff % Current assets 87,095 109,319 (22,224)
Non current assets 318,611 290,049 28,562 9.8% Total assets 405,705 399,368 6,337 1.6% Current liabilities 31,659 55,881 (24,222)
Non current liabilities 14,327 15,818 (1,491)
Total liabilities 45,985 71,699 (25,714)
Equity attributable to company owners 359,139 326,962 32,177 9.8% Total equity 359,720 327,669 32,051 9.8%
palm oil land right processing in South Sumatra and Papua.
payable.
USD 327mn in FY12 to USD 359mn.
If you need further information, please contact our Investor Relations Department: PT Austindo Nusantara Jaya Tbk Atrium Mulia, 3A Floor, Suite 3A-02
Jakarta 12910 - Indonesia T: +62-21-29651777 F: +62-21-29651788 E: investor.relations@anj-group.com www.anj-group.com
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