The views expressed here contain information derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness or reliability of the information. Any forward looking information in this presentation has been prepared on the basis of a number of assumptions which may prove to be incorrect. This presentation should not be relied upon as a recommendation or forecast by PT. Indo Tambangraya Megah Tbk. Nothing in this release should be construed as either an offer to buy or sell or a solicitation of an offer to buy or sell shares in any jurisdiction 1
Agenda 1. Introduction 2. Financial Review 3. Operational Review 4. Commercial Review 2
3 Introduction 1. Agenda
Highlights of 3Q11 & 9M11 Coal sales Coal sales 17.56 Mt 6.85 Mt Up 1.6 Mt Up 1.2 Mt Unit: USD Million +31% Q-Q +7% y-y 9M11 2Q11 3Q11 9M10 y-y% Q-Q Total Revenue 678 1,205 1,649 +37% 502 +35% Gross Profit Margin 39% 34% 37% +3% 38% +1% EBIT 298 487 151 219 +45% +63% Net income 361 110 156 +42% 186 +94% ASP (USD/ton) $98.4 $73.9 $94.6 +28% $97.4 +1% 4
5 Financial Review 2. Agenda
Sales Revenue SALES VOLUME REVENUE* GROWTH Units: Million Ton +7% YoY 6.8 +31% QoQ 5.8 5.5 Units: USD Million +71% YoY 5.2 674 5.0 +33% QoQ 508 479 447 394 3Q10 4Q10 1Q11 2Q11 3Q11 AVERAGE SELLING PRICE Units: USD/Ton +26% YoY +1% QoQ 98.4 97.4 87.3 78.3 77.6 3Q10 4Q10 1Q11 2Q11 3Q11 3Q10 4Q10 1Q11 2Q11 3Q11 * Net coal revenue Indominco Kitadin Trubaindo Jorong 3Q10 4Q10 1Q11 2Q11 3Q11 6
Average Gross Margin Units: USD million 678 Total Revenue 502 486 GPM* (%) 396 390 320 229 39% 180 136 34% 38% 33% 34% 28% 25% 51 36% 45 36 37% 26 31% 23 2 23% 30% 18% 10% 10% 23% 19% 19% 19% (60%) 2Q11 3Q11 2Q11 3Q11 2Q11 3Q11 3Q10 3Q10 3Q10 2Q11 3Q11 3Q10 2Q11 2Q11 3Q10 ITM Consolidated Indominco Jorong Kitadin Trubaindo * COGS included royalty 7
EBITDA CONSOLIDATED Units: USD million +176.5 232.8 +41% (77.7) QoQ (21.9) (7.2) (1.8) 164.9 Royalty increased 113.0 with revenues Higher Volume by 31% Higher ASP by 1% 3Q10 2Q11 Revenue COGS Royalty 3Q11 Selling Admin *COGS = Prod cost + Transport cost + Inv. movement Units: USD million MINE BY MINE 150.9 102.2 70.8 61.0 51.5 31.3 15.7 11.7 8.6 4.4 3.5 (4.1) 3Q10 2Q11 3Q11 3Q10 2Q11 3Q11 3Q10 2Q11 3Q11 3Q10 2Q11 3Q11 Indominco Trubaindo Kitadin Jorong 8
Net Income CONSOLIDATED Units: USD million +0.3 +67.9 155.9 +0.1 +42% (4.2) (3.0) QoQ (15.3) 110.1 Derivative loss Higher Volume by 31% 51.7 Higher ASP by 1% Net FOREX Derivative Income 3Q10 2Q11 EBIT Others 3Q11 Fin.Charges Transactions Tax Units: USD million MINE BY MINE 100.3 67.6 42.9 33.8 28.9 20.9 8.6 6.8 4.0 3.2 1.8 (7.1) 3Q10 2Q11 3Q11 3Q10 2Q11 3Q11 3Q10 2Q11 3Q11 3Q10 2Q11 3Q11 Jorong Trubaindo Kitadin Indominco 9
Balance Sheet CASH POSITION 579 (Units: USD million) 429 Net Gearing (%) 295 258 222 Net D/E (times) (30%) (34%) (44%) (65%) (41%) 2007 2008 2009 2010 3Q11 (0.34) (0.65) (0.36) (0.47) (0.41) 2007 2008 2010 3Q11 2009 DEBT POSITION (Units: USD million) 92 55 11 0 0 2007 2009 2010 3Q11 2008 10
2011 Capital Expenditure Plan: USD 126 m Units: USD million 60.8 2011 Capex plan Capex realized up to Sep’11 32.9 14.6 13.8 11.4 10.5 9.6 6.1 1.4 0.0 Jorong Trubaindo Indominco IMM TCM Bharinto BEK Kitadin KTD JBG Note: Total capex plan including Jakarta office 11
12 Operational Review 3. Agenda
Operations in 2011 9M11 output: 17.8mt and FY11 target: 25mt Indominco 10.7mt output in 9M11. Output target of 14.7mt for 2011 Kitadin-Td.Mayang Works as mining Captive Trubaindo coal-fired contractor at IMM area . power and production from 4.9mt output in 9M11. own mine will Output target of 7.2 Mt commence by 2H 2011 for 2011 with target output of 0.5mt Bharinto Mine operations will Kitadin-Embalut start within 4Q11 0.9 Mt output in 9M11. Output target of 1.2mt for 2011 Jorong 1.2mt output in 9M11. Output target of 1.4mt for 2011 13
Indominco Mandiri INDOMINCO PRODUCTION ANALYSIS INDOMINCO-BONTANG SCHEMATIC 9M11 output: 10.7mt; FY11 target: 14.7mt 12.0 Operations 15.0 SR 14.7 14.9 14.9 Ports WEST BLOCK 11.8 13.5 Hauling ROM 2010 Volume 4.2 4.0 Mine 3.7 stockpile 3.6 3.6 Stockpile 3.5 3.4 2011 stockyard 3.1 Crusher EAST BLOCK 4Q 1Q 2Q 3Q West Block East Block Bontang City 14.6 SR 14.6 14.7 14.7 13.1 10.9 35Km 15.8 12.5 10.9 10.1 9.0 2.8 Volume 9.0 9.0 2.5 2.5 9.0 2.2 2.1 2.3 2.1 1.8 1.8 1.8 1.6 1.3 1.3 1.1 0.9 1.0 Sea conveyor Asphalt haul 2.5Km 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q road MAJOR QUARTERLY UPDATES Post Santan River Port stock � 3Q11 production was higher than last year due to better yard Panamax weather condition and additional mining equipment from PAMA 95,000DWT Inland conveyor 4km � Overall strip ratio in 2011 is expected to be lower than 2010 in line with higher contribution from East Block � Expansion of port stock capacity from 0.35mt to 0.65mt and installation of 6 new tunnels conveyer at port stockyard already completed � Further study on East Block Wash Plant concept and design is 0 2 4 6 8 10 km still ongoing 14
Trubaindo and Bharinto TRUBAINDO PRODUCTION ANALYSIS TRUBAINDO-BHARINTO SCHEMATIC 9M11 output: 4.9mt; FY11 target: 7.2mt Bunyut Port 14.1 11.9 Product coal SR : 11.0 10.0 10.5 conveyor, stacking, 11.4 Mahakam stockpile 11.4 2.2 River 2010 1.8 1.7 40km Volume : 1.6 1.5 1.5 1.3 2011 EAST KALIMANTAN Mine to port 1.1 0 5 10 15 20 25 Kedangpahu 1Q 2Q km 3Q 4Q River PT. MAJOR QUARTERLY UPDATES TRUBAINDO Trubaindo: � ROM � 3Q11 production was higher than last year supported by stockpile North increased capacity from mining contractor Block Bharinto 60km � Expect higher strip ratio in 2011 due to approaching narrow south west of pit area Trubaindo South Block 1 North Block (Dayak Besar) Bharinto: � Operation � PAMA will be working as the mining contractor and all Hauling required mining equipment already arrived on site South Block 2 (Biangan) Stockpile � Crushing plant construction and port stockyard already completed and already test run Barge Port PT. � Mine operations will start within 4Q 2011 BHARINTO Crusher � Currently waiting for the completion of hauling road 15
Kitadin Embalut and Tandung Mayang EMBALUT PRODUCTION ANALYSIS KITADIN SCHEMATIC 9M11 output: 0.9mt; FY11 target: 1.2mt TD. MAYANG 10.4 SR : 8.9 10.6 8.7 10.7 8.7 10.8 Bontang city IMM WB IMM EB 2010 0.4 Volume : 0.3 0.3 0.3 0.3 0.3 0.3 0.3 Bontang 2011 Port 1Q 2Q 3Q 4Q ROM stockpile TD.MAYANG PRODUCTION ANALYSIS EMBALUT 5km Mine to port FY11 target: 0.5mt Embalut Port 2010 0.5 Mahakam 2011 River Samarinda Volume : 0.0 0.0 0.0 0.0 0.0 0.0 to Muara Berau 0.0 EAST KALIMANTAN 1Q 2Q 3Q 4Q MAJOR QUARTERLY UPDATES Kitadin Embalut: � Operations to Muara Jawa � 3Q11 production achieved higher than plan supported by Ports additional equipment from 2 mining contractors Hauling � Change in mining sequence in 4Q11 may lead to higher Balikpapan Stockpile strip ratio Crusher Kitadin Tandung Mayang: � � Already have production from its own area since 3Q11 0 2 4 6 8 10 km and expect 0.5mt production for 2011 � Currently also works as mining contractor at Indominco area 16
Jorong JORONG SCHEMATIC JORONG PRODUCTION ANALYSIS 9M11 output: 1.2mt; FY11 target: 1.4mt 0 5 10 15 20 25 km 8.6 SR : 6.9 6.9 8.6 8.6 6.9 2010 Pelaihari 0.5 Volume : 0.4 0.4 0.4 0.3 6.9 0.3 2011 Haul road 0.1 0.0 1Q 2Q 3Q 4Q 20km MAJOR QUARTERLY UPDATES � 3Q11 production was higher than plan due to better Jorong weather condition and good contractor performance � Maintained production level of around 1.0 to1.5mt due to limited area Operations Coal terminal Barge Port Pacific Ocean Hauling Stockpile 17
18 Commercial Review 4. Agenda
Main 2011 coal market driver update Weather World Growth Chinese Demand • • • Indonesia season was wet Demand is stronger than Downward trend, but not in during first half and drier in expectations in total but coal consumption. the second half 2011. unevenly distributed. • Uncertainty impacting • Chinese winter was normal • Production increased beyond forecasts due to European followed by water shortages. demand increase, but again and USA debt concerns, Summer was normal. levels vary by region. Middle East/N. Africa unrest, exchange rate trends and • Australian storms/floods • Imports weak in 1Q, inflation. damage is largely overcome. recovering in 2Q, very strong • 2012 world growth forecast in 3Q. While some of 2.4% (previous forecast uncertainty in 4Q, very strong was 3.1%). Asian growth so far. forecast is 6.3% (previous forecast was 6.9%). Sources: Country Forecast October 2011 from The Economist Intelligence Unit Limited 2011 19
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