2016 public expose
TRANSCRIPT
EHPT 2016 Public ExposeSampoerna Strategic Square – Jakarta, 16 June 2016
1
This is EHP
2
New Name & Logo
3
4
New Management
5
New Vision & Mission
New Purpose
6
New core values
New Purpose
7
New beginning In New office
We are big, young & ready to grow
8
Big, >150k Ha
0 Ha4k Ha
Prime
8k Ha
YoungImmature
49k Ha61k Ha29k Ha
0 Ha1k Ha1k Ha
PrimeYoung
Immature
ImmatureYoungPrime
9As at end December 2015
Young, average age 6.4 years
Prime Young &immature
32%
68%
10
>8yrs
<8yrs
As at end December 2015
Ready to grow, 2.3 million ton/year
EHP total mill capacity, tons per hour
2011 2013 2015 2017f
475
385
265
175
2.3 million ton
/ year
=
11As at end December 2015
EHP total mill capacity, tons per hour
2011 2013 2015 2017f
475
385
265
175
2.8 Million ton
/ year
=
12
Ready to grow, 2.8 million ton/year
The less good news
13
2015, 1Q 2016 net loss
Income StatementIn Rp m 2015 1Q 2016Revenue 2,674,271 620,332Gross profit 573,771 106,310Operating profit 233,977 18,772EBIT 238,175 88,199EBT (203,622) (78,236)Net profit (181,400) (67,560)EBITDA 752,317 146,772
Gross margin % 21% 17%Operating profit margin %
9% 3%EBIT margin % 9% 14%EBT margin % (8%) (13%)Net profit margin % (7%) (11%)EBITDA margin 28% 24%
14
I
BWPT shares follow EBITDA
15
0
60
120
180
240
0
125
250
375
500
2015 2Q 3Q 4Q 1Q2016
BWPT Share PriceEBITDA
16
BWPT shares follow EBITDA
Update website
17
It's not surprising ...
19
Entering Prime age
8 Prime age
Average age
Years
20As at end December 2015
High investment, high interest
PT Eagle High Plantations Tbk Des 31, 2015 Mar 31, 2016
Assets
Total Current Assets 2,796,883 1,604,370
Total Noncurrent Assets 14,861,954 14,831,676
Total assets 17,658,837 16,436,046
Liabilities
Total Current Liabilities 3,955,212 2,337,097
Total Noncurrent Liabilities 7,050,710 7,514,197
Total Liabilities 11,005,922 9,851,294
Total Equity 6,652,915 6,584,752
TOTAL LIABILITIES AND EQUITY 17,658,837 16,436,046
Total Debt 7,782,513 8,105,648
21
I
5 Reasons to be positive
5 Reasons to be positive
22
big, young and ready to grow = Production ⬆
1
23
5 Reasons to be positive
Fruit Production, 15% growth trend ⬆
20,000
55,000
90,000
125,000
160,000
2011 1Q2016
Monthly Production
Total fruit production & growth trend
CAGR=15%
1
24
💦 mm & fruit tons (right axis)
20,000
55,000
90,000
125,000
160,000
0
100
200
300
400
2011 1Q2016
Monthly RainfallMonthly Production
1
25
Fruit Production, El Nino
💦 mm & fruit tons (right axis)
20,000
55,000
90,000
125,000
160,000
0
100
200
300
400
2011 1Q2016
Monthly RainfallMonthly Production
1
26
Fruit Production, La Nina
💦 mm & fruit tons (right axis)
20,000
55,000
90,000
125,000
160,000
0
100
200
300
400
2011 1Q2016
Monthly RainfallMonthly Production
1
27
Fruit Production, La Nina
CAGR=15%
Focus on Cash Flow
2
28
5 Reasons to be positive
Slowing down planting, ⬆ Cash flow & ♻
EHP New Planting Hectares
0
5,000
10,000
15,000
20,000
2011 2012 2013 2014 2015
2
29
Slowing down planting, ⬆ Cash flow & ♻2
30
❤♻Sustainability
Balance sheet consolidation
3
31
5 Reasons to be positive
PT Eagle High Plantations Tbk Des 31, 2015 Mar 31, 2016
Assets
Total Current Assets
Total Noncurrent Assets
Total assets 17,658,837
Liabilities
Total Current Liabilities 3,955,212
Total Noncurrent Liabilities
Total Liabilities 11,005,922
Total Equity
TOTAL LIABILITIES AND EQUITY
Total Debt
Balance sheet consolidation
32
Balance sheet consolidation
33
PT Eagle High Plantations Tbk Des 31, 2015 Mar 31, 2016
Assets
Total Current Assets
Total Noncurrent Assets
Total assets 17,658,837 16,436,046
Liabilities
Total Current Liabilities 3,955,212 2,337,097
Total Noncurrent Liabilities
Total Liabilities 11,005,922 9,851,294
Total Equity
TOTAL LIABILITIES AND EQUITY
Total Debt
Balance sheet consolidation
Total Liabilities & Noncurrent Liabilities Rp tn
Des 2014 Mar 2015 Jun 2015 Sep 2015 Des 2015 Mar 2016
9.9
11.0
10.09.79.69.4
2.3
4.03.53.23.33.1
Total Noncurrent LiabilitiesTotal Liabilities
3
34
CPO & Kernel price is positive
4 5 Reasons to be positive
35
Price Recovery4
36
EHP quarterly selling price, in Rp million
0.0
2.3
4.5
6.8
9.0
2015 2Q 3Q 4Q 1Q2016
cpo Kernel
0.0
2.3
4.5
6.8
9.0
2015 2Q 3Q 4Q 1Q2016
CPO Kernel
EHP quarterly selling price, in Rp million
Current market price
4
37
Price Recovery
BWPT price is positive too
5
38
5 Reasons to be positive
5% change from end
December 2015
39
BWPT number 1
-40%
-20%
0%
20%
40%
60%
80% 77%
50%
21%20%19%18%
9%7%7%4%2%0%
-7%-11%-13%
-24%
-35%
Share price change YTD
Other plantation stocks
BWPT
0
60
120
180
240
0
125
250
375
500
2015 2Q 3Q 4Q 2016 2Q 3Q 4Q
BWPT Share PriceEBITDA
BWPT shares follow EBITDA
Production ⬆Price ⬆
Balance Sheet ⬆
5
40
Thank you
41
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