kija investor presentation may 2014finalppt
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Investor Presentation
May 2014
PT Jababeka Tbk
Infrastructure
Land Development
Hospitality
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1. Overview of PT Jababeka Tbk
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Overview of PT Jababeka Tbk
Infrastructure
Power Dry PortInfrastructure
Real Estate
Kota Jababeka, Cikarang : fully integrated matured township development spanning5,600 hectaresKendal Industrial Park (2,700 hectares, JV with Sembcorp)Tanjung Lesung, Banten (1,545 hectares integrated township development with a focuson leisure, tourism, and hospitality)
Industrial land plots & standard factory buildings
Residential townhouses, condominiums, and detached homes
Commercial shop houses, plots and supporting commercial facilities
Power: 130MW power plant with 20 years PPA with PLN
Infrastructure: water & waste water, estate management, etc
Dry Port International port: IDJBK
Township Developments
ResidentialIndustrial Commercial
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Real Estate Developer & Infrastructure Services Powerhouse
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Strategic development sites
Tanjung Lesung
Master plan: 1,545 hectares
170km southwest of Jakarta
Karawang
Kota Jababeka, CikarangMaster plan: 5,600 hectares
35km east of Jakarta
Kendal, Central JavaMaster plan: 2,700 hectares
450km east of Jakarta
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>3,000 hectares strategic land bank with upside potential
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Snapshot of core businesses
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b
Land Development Infrastructure Leisure and Hospitality
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2. Strong financial performance
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26.5 34.7
39.0 28.4
0
20
40
60
80
1Q2013 1Q2014
Recurring Real Estate
1Q 2014 Financial Highlights
Revenue (USD m) (1) Gross Profit (USD m) and Gross Profit Margin EBITDA (USD m) and EBITDA Margin (2)
Net Income (USD m) Total Assets (USD m) Net Debt (USD m)
30.0 29.6
45.8%
46.8%
45.0%
45.5%
46.0%
46.5%
47.0%
0
5
10
15
20
25
30
35
1Q2013 1Q2014
28.4 27.4
43.4% 43.4%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
0
5
10
15
20
25
30
1Q2013 1Q2014
17.4
26.2
0
5
10
15
20
25
30
1Q2013 1Q2014
717.8 707.1
0
200
400
600
800
1Q2013 1Q2014
171.3 178.5
0
50
100
150
200
1Q2013 1Q2014
(3.6%)
(1.4%)
39.5%
(1.5%) 4.2%
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65.5 63.1
Source: Latest company financials. Exchange rate : 11,500 IDR/USD as of 5 May 2014Notes:(1) EBITDA calculated as Net income + Interest + Tax + D&A and other non-cash items
(2) Recurring defined as Power Plant, Service and maintenance fees and Dry Port. Real Estate defined as all other business s egments excluding Recurring, mainly real estate and tourism
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USD 63.1 million
Stable and sustainable recurring incomeRevenue Contribution Infrastructure Revenue Breakdown (USD m)
Infrastructure EBITDA (USD m) and EBITDA Margin (2)
Recurring (1)
Real Estate (1)2011
2013
USD99.9 million
USD 238.2 million2012
USD 121.8 million
1Q2014
30.7%
463.3%
31.3%
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26.520.8
117.3
15.934.7
Predominantly USD income streamCatering to captive markets with long term contracts
Source: Latest company financials. Exchange rate : 11,500 IDR/USD as of 5 May 2014Notes:(1) EBITDA calculated as Net income + Interest + Tax + D&A and other non-cash items(2) Recurring defined as Power Plant, Service and maintenance fees and Dry Port. Real Estate defined as all other business segments excluding Recurring, mainly real estate and tourism
EBITDA(USDm)
EBITDAMargin (%)
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Steady growth in Real Estate
Key commentary Land Development Revenue (USD m)
Land Development EBITDA (USD m) and EBITDA Margin (1)
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Cikarang is the preferred location with strongsupporting infrastructures (e.g. power, water)
Consistently high EBITDA margins achieved
Higher ASPs achieved:(IDRm/sqm) 2013 1Q2014 % changeIndustrial Land Plots 2.0 2.6 30%Residential 4.2 5.0 19%
Commercial 17.0 20.0 18%
Source: Latest company financials. Exchange rate : 11,500 IDR/USD as of 5 May 2014Note: (1) EBITDA calculated as Net income + Interest + Tax + D&A and other non-cash items
EBITDA(USDm)
EBITDAMargin (%)
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Robust P/L performance
Revenue Breakdown (USD m) (1) Gross Profit (USD m) and Gross Profit margin
EBITDA (USD m) and EBITDA margin (2) Net Income (USD m)
(3.6%)
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EBITDA(USDm)
EBITDAMargin (%)
Gross Profit(USDm)
Gross ProfitMargin (%)
99.9
63.1
238.2
121.8
65.5
Source: Latest company financials. Exchange rate : 11,500 IDR/USD as of 5 May 2014Notes:(1) Recurring defined as Power Plant, Service and maintenance fees and Dry Port. Real Estate defined as all other business s egments excluding Recurring, mainly real estate and tourism(2) EBITDA calculated as Net income + Interest + Tax + D&A and other non-cash items(3) FY2013 includes unrealised foreign exchange loss (non cash) of USD36.6 m. Q12014 includes unrealised foreign exchange gain (non cash) of USD11.4m.
(3)(3)
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Strong balance sheet
Assets and Cash (USD m) Debt, Equity (USD m) and Debt / Equity
Net Debt / EBITDA (x) (1)
11Source: Latest company financials. Exchange rate : 11,500 IDR/USD as of 5 May 2014Note: (1) EBITDA calculated as Net income + Interest + Tax + D&A and other non-cash items.
EBITDA / Interest Expense (x) (1)
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3. Sustainable growth strategy
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Growth Strategy
Short Term1
Provide infrastructure (power, water, ports
etc.) in new development areas
Tanjung Lesung as the new tourism
destination
Development of Kendal Industrial
Park in Central Java
Phase 2 of Bekasi Power
Medium Term2
Kota Jababeka, Cikarang:Preference for smaller plotswith standard factory buildingsTarget fast growing, low-middle end residential and
commercial segmentBekasi Power: efficiencyHigh potential for dry port
Long Term3
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Key Partners & Tenants
Strategic Partners1
H
Multinational Tenants2
SembCorp Industries
leading utilities, marine and
urban development group
Plaza Indonesia Realty
owner & developer of high-end
commercial centre in Jakarta CBD
PLN
state-owned power
distribution company
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Plaza Indonesia @ Kota Jababeka Cikarang
Superblock development in Jababekas new CBD
2 JVs between KIJA and Plaza Indonesia (PLIN) (12ha 30/70 4ha 70/30)Malls, hotels, condominium, apartments and multi function
Phase 1 of the 12ha JV to begin 4Q14 or 1Q15
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Kendal Industrial Park Medium Term
Strong alternative to high-cost Greater Jakarta
JV between KIJA (51%) and Sembcorp (49%)
Industry-based Township: to be modeled after Kota Jababeka, Cikarang
860 hectares (phase 1) - Total planned area 2,700 hectares
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Bekasi Power Phase 2 Medium Term
Bekasi Power Plant- Phase 2
Duplicate of existing 130MW plant
Gas pipelines are all currently in place
Additional upside to recurring revenues
Site for 2nd plant
Existing site (5ha) for 2 x 130MW power plant
Bekasi Powers 2nd Plant to Capitalize on Power Supply Gap
BP
Kota Jababeka
Estimated total power demand inside KotaJababeka > 300MW
In Indonesia, power demand for industrial isgrowing at 10-12% per annum
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Jababeka key investment highlights
Favorable & StrongMacro Economic
Fundamentals
Increasing recurring,USD denominated,
strong revenue base
Sustainable GrowthStrategy in Real
Estate &Infrastructure
Businesses
Leading TownshipDeveloper with Top
Notch Infrastructures
& Vast and StrategicLand Bank
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Thank Youwww.jababeka.com
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