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Investor Relations updateUBS Indonesia Conference 2016
(based on FY2015)
Last update : March 2016
Spirit of Innovation 2
TABLE of CONTENT
SEGMENT OVERVIEW
GROUP PERFORMANCE IR’s UPDATE
GUIDANCE 2016F
BOARD GUIDANCE#5 PT WIJAYA KARYA (Persero) Tbk. 3
SEGMENT OVERVIEW
Spirit of Innovation |
VISION To be One of The Best Integrated EPC and Investment Company in South East Asia
MISSIONProviding Excellent Integrated Products and Services on EPC and Investment for Infrastructure, Building, Energy, Industrial Plant, Industry and Realty & Property
Accomplish Key Stakeholders Expectation
Practicing Business Ethics to Promote Good Corporate Citizen and Company Sustainability
Strategic Overseas Expansion
Implementing Best Practices Integrated Management System
“
4
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Government Public
65.05%34.95%
60% 99%99% 85.26%85.26%%%%% 90.04% 96.05% 99%
51%
60%
100%
PORTOFOLIO BISNISSUBSIDIARIES
PT WIKA Realty Minor Development50%
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Government Public
65.05%34.95%
Toll Road
20% 40% PT AIR MINUM INDONESIA 14%
20%
2%
0,4%
PT Citra Marga Lintas Jabar
PORTOFOLIO BISNIS
Railway
15%
38%
Sea Port
25% PT Pilar Sinergi BUMN Indonesia
Transportations Infra
Energy Renewable Energy Water & Environment
INVESTMENT IN ASSOCIATE
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BUSINESS PILARSINDUSTRY INFRASTRUCTURE &
BUILDINGENERGY &
INDUSTRIAL PLANTREALTY & PROPERTY INVESTMENT
Precast Concrete : - Precast Concrete Product - Natural Resources
Management Industrial Facilities : - Steel Fabrication - Aluminium Casting - Plastic InjectionBitumen : - Granular Asphalt - Extraction Asphalt
Civil Construction : - Road and Bridge - Seaport, Jetty - Dam & BarrageBuilding Construction : - Residential & Commercial - Airport- Facility Steel Construction : - Erection - Equipment Installation
EPC : - Oil and Gas Plant - Petrochemical Plant - Cement Plant, Power Plant - Mining, Biofuels, FertiliserOperation & Maintenance : - Power Plant - Industrial Equipment
Realty & Property : - Landed House - High-rise (Apartment, Condotel, Office Mixed Use) - Industrial Estate
Property Management
Energy Water & Environment Transportation Infrastructure
Civil Work Department Overseas Department Building Department
Industrial Plant Department Energy & Power Department
Building Department Energy & Power Department
SERV
ICES
/PRO
DUCT
SDE
PART
MEN
T, SU
BSID
IARI
ES, A
SSOC
IATE
S
PT WIJAYA KARYA (Persero) Tbk. 8
1.SK Menteri BUMN No. SK-16/S.MBU/2012 | 2.Assessment by Indonesia Quality Award (IQA) | 3.Assessment by “Kriteria Penilaian Kinerja Unggul” (KPKU) | 4.Assessment by LPPM | 5.Assessment by AON Hewitt | 6. Assessment based Coso Framework | 7. Assessment based ISO 31000 | 8. Self Assessment
2008 2009 2010 2011 2012 2013 2014 2015GCG SCORE (Assessor: BPKP) 85,56 86,20 86,97 89,34 86,071) 89,238) 93,301)
BUMN BERSIHINTERNAL
TARGET : 9.4 PERCEPTION: 8.41
CGPI INDEX 80.36 Emerging Industry Leader
81,78 Emerging Industry Leader
ASEAN SCORECARD49 biggest
group score: 61-65
TOP 14 score: 69.9 Best SOE
CORPORATE RATING (Assessor: PEFINDO)
id A Stable
Outlook- id A
Stable Outlook
id A+ Stable Outlook
id A+ Stable Outlook
id A+ Stable Outlook
MTN RATING id A+ Stable Outlook
id A+ Stable Outlook
PERFORMANCE EXCELLENCE - - - -
5903) Emerging Industry Leader
582,53) Emerging Industry Leader
ENGAGEMENT LEVEL - 85,934) 85,554) 805) 885) 785)
RISK MATURITY LEVEL 2,86) 3,126) 2,567) 3,517) 3,797)
CORPORATE ASSESSMENT
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WIKA BETON
CAPACITY : 2.500.000 ton/Year
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WIKA REALTY
TOTAL LANDBANK : 300Ha
NORTH SUMATRA
JAKARTA
EAST KALIMANTAN
NORTH SULAWESI
SOUTH SULAWESI
WEST JAVA & BANTEN
CENTRAL JAVA
EAST JAVA
BALI
Tamansari Debang Medan (LH)
Tamansari Hive Fatmawati Hive Office Tamansari Parama
Wikasatrian - Bogor (LH&H) Tamansari Cyber – Bogor (LH) Tamansari Iswara - Bekasi (A) Tamansari Panoramic – Bandung (A) Tamansari La Grande Merdeka – Bandung (A&C) Tamansari Skylounge – Tangerang (A&C)
Tamansari Hill - Semarang (LH) Tamansari Amarta - DIY (A)
Tamansari Papilio Surabaya (A&C)
Jivva Tamansari – Lepang (C) Jineng Tamansari – Kuta (C) Tamansari Gangga – Tabanan ( C )
Tamansari Bukit Mutiara - Balikpapan (LH) Tamansari Grand Samarinda (LH)
Tamansari Metropolitan Manado (LH) Tamansari Lagoon - Manado (A&C)
Tamansari Kahyangan Kendari (LH) Tamansari Skylounge - Makassar (A)
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Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2014 2015
3,734
3,068.94
2,596.9092,318.154
2,033.21,827.7
1,557.211,252.74
1,041.24
683.12
309.11209.7
2,8282,596
2,817
2,0531,7141,5831,424
1,146
778679489
220220489
679 778
1,1461,424 1,583 1,714
2,053
2,8172,596
2,828
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2014 2015
19,077.1
13,158.2211,562.61
10,589.5510,909.5
9,133.378,573.46
4,303.323,624.353,383.022,767.73
783.11
9,817
7,9526,376
5,2614,4873,5303,3782,7452,3831,890
619269269 6191,890 2,383 2,745 3,378 3,530
4,487 5,2616,376
7,952
9,817
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2014 2015
1,034.35
658.42
165.67165.6761.6260.6359.6559.2558.6561.5810.780.49
3,6343,5173,3143,359
2,0402,0402,0401,9821,9811,9811,8851,8841,884 1,885 1,981 1,981 1,982 2,040 2,040 2,040
3,359 3,3143,517 3,634
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2014 2015
1,376.31
1,039.191,018.191,018.19
357.55338.48232.83212.85
152.46117.57108.778.63
1,354
1,0841,014
3873623323192492121621158282 115 162 212 249
319 332 362 387
1,0141,084
1,354
SEGMENT: INDUSTRY SEGMENT: INFRA & BUILDING
SEGMENT: ENERGY & IND. PLANT SEGMENT: PROPERTY & REALTY
NEW CONTRACT
BOARD GUIDANCE#5 PT WIJAYA KARYA (Persero) Tbk. 12
GROUP PERFORMANCE
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Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Total 2015 New Contract 2015 New Contract 2014 Total 2014
17,632
15,148
13,522
11,060
8,6037,4857,160
6,1235,355
4,712
3,1082,456
2,4841,626
2,4622,4571,118
3251,038768643
1,604652
2,456
7,270
2,6081,252730
2,002937
4,595
9516311,0492,124
1,072
25,222
17,951.77
15,343.3814,092
13,361.89
11,360.1810,423
5,8284,8774,245
3,196
1,072
2,4563,108
4,7125,355
6,1237,160 7,485
8,603
11,060
13,522
15,148
17,632
2,456
6521,604
643 768 1,038325
1,1182,457 2,462
1,6262,484
NEW CONTRACT CYCLENEW CONTRACTFY2015 25,221.76 FY2014 17,631.94
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Industrial Plant
Precast
Building
Property
Toll, Road&Bridges
Port, Irrigation, DAM
Manufacture&Constr
Bitumen
Power Plant 404.75
18
746
4,167
9,116
1,376
5,785
2,969
640
0.43
61
580
2,289
1,321
1,354
6,207
2,186
3,633
FY2014 FY2015
NEW CONTRACT BASED ON SCOPE OF WORK (FY2015)
NEW CONTRACT FY2015 25,221.76 FY2014 17,631.94
20.61%
12.40%2.54%
11.77%35.20%
22.93%
7.68%5.46%
7.49%36.14%
12.98%16.52%
3.29%2.96%
0.07%0.0%
1.60%
0.35%
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NEW CONTRACT AND CARRY OVER
FY2015 MAJOR AWARDED PROJECTS
- Oecusie Airport-Timor Leste Rp1.008Tr
- Pasellorang Dam Rp478.27Bn
- Keureuto Dam Rp406.91Bn
- Elevated Non Toll Ciledug Rp319.28Bn
- Bogor Ciawi Toll-Road Rp322.92Bn
- Container Yard Lamong Rp325.48Bn
- Bogor-Ciawi Toll Road Rp322.92Bn
- Solo-Kertosono Toll Road (Loan) Rp717.79Bn
- Double-Double Track Maggarai Rp330Bn
- Lampung Toll Road Rp2.181Tr
- Seroja Toll Road Rp628Bn
- G Island Bridge Rp300Bn
- Bp Tangguh Ncdt Rp357Bn
FY2015
FY2014 FY2015
7.68%20.61%
55.68%
16.04%
25,221.76
FY2014 FY2015
3.66%
31.93%
58.02%
6.39%
23,784.39
Industry Infra & Building Energy & Industrial Plant Property & realty
NEW CONTRACT CARRY OVER
17,631.94
5.46%
4.10%
75.64%
14.80%
23,301.49 4.23%
36.40%
55.61%
3.76%
ORDER BOOK FY2015 48,523.24 FY2014 41,416.33
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(bilion Rp.)NEW CONTRACT BASED ON PROJECT OWNER
55.7%29.0%
15.3%
39.7%
17.8%
42.5%2010 2011 2012 2013 2014 2015F
31.6%
28.2%
40.2%
51.0%
30.6%
18.4%
55.7%
29%
15.3%
Private SOE Government
25.21%22.17%
52.02%
2014DECEMBER
2015DECEMBER
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0
450
900
1350
1800
2012 2013 2014 2015
431.7
195.8
81.122.5
95.75
27.6
133.8
663.4
424.75
311.8
56.9
782.97
510.8482 SubsidiariesFixed AssetBusiness DevelopmenCapital Placement
1,045.9
691.4 753.8
CAPITAL EXPENDITURE 2014F
22.5
1,735.17
BOARD GUIDANCE#5 PT WIJAYA KARYA (Persero) Tbk. 18
RESULT UPDATE FY2015
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SEGMENTAL SALES & NET PROFIT
Infra & Building Energy & Industrial Plant Industry Property & Realty
11%
21%
25%
44%
10%
26%
25%
38%
REVENUE
12%
15%
35%
38%
NET PROFIT
17%
35%15%
32%
2014 2015
REVENUE
NET PROFIT
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QUARTERLY GROSS PROFIT MARGIN
5
8.75
12.5
16.25
20
3M13 6M13 9M13 FY13 3M14 6M14 9M14 FY14 3M15 6M15 9M15 FY15
Infra & Building Energy & Industrial Plant Industry Property & Realty*JO: Join Operations
Spirit of Innovation |
WIKA GROUP & SUBSIDIARIES
49% 51%
55%45%
Sales
Net Income
34%
66%
52% 48%
Sales
Net Income
53% 47%
56%44%
Sales
Net Income
FY2013 FY2014 FY2015
WIKA Group SUBSIDIARIES
Spirit of Innovation |
0
0.725
1.45
2.175
2.9
2009 2010 2011 2012 2013 2014 2015
2.6
2.92.92.892.75
2.282.49
22
DEBT & LEVERAGE PERFORMANCE
0
0.175
0.35
0.525
0.7
2009 2010 2011 2012 2013 2014 2015
0.650.62
0.52
0.44
0.210.19
0.07
LIABILITIES to EQUITY RATIO GROSS GEARING RATIO
Debt Covenant : 3.5 Debt Covenant : 2.3
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STABLE TREND IN CHALLENGING TIMESROE (%)
2009 2010 2011 2012 2013 2014 2015
1,513.911,401.48
1,212.00
870.00654.00
478.00485.00
Operating Margin
OPERATING PROFIT (IDR bio)
7.36% 7.93% 8.44% 8.78%
10.23%11.24% 11.11%
2009 2010 2011 2012 2013 2014 2015
1,098.081,139.191,016.00
833.00
630.00473.00
348.00
EBT Margin
EARNING BEFORE TAX (IDR bio)
6.11%
8.60% 9.19%10.02%
8.55% 9.13%8.06%
2009 2010 2011 2012 2013 2014 2015
625.00608.00570.00476.00
355.00285.00
189.00
Net Profit Margin
NET PROFIT (IDR bio)
2.87%
4.73% 4.58% 4.81% 4.8% 4.87% 4.59%
Revenue 9.28%
OPEX 8.07%
EBT (3.60%)
Net Profit 2.80%
YoY 2015
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DESCRIPTION 2015 2014 GrowthNew Contract 25,221.76 17,631.94 43.05%Order Book 48,523.24 41,416.33 17.16%Net Sales 13,620.10 12,463.22 9.28%Cost of Sales (11,965.44) (11,038.65) 8.40%Profit (Loss) JO Projects 288.40 369.76 (22.00%)Gross Profit 1,943.06 1,794.33 8.29%
14.27 14.40Operating Expense (429.16) (392.85) 9.24%Operating Income 1,513.91 1,401.48 8.02%
11.12 11.24Other Income (expense) (415.82) (262.29) 58.54%Profit (Loss) before Income Tax 1,098.08 1,139.19 (3.61%)
8.06 9.14Final Tax (395.08) (395.42) (0.09%)Non Final Tax Deferred Tax Net Income 703.01 743.77 (5.48%)
5.90 5.97Other Comprehensive Income After TaxComprehensive Income 709.31 736.15 (3.65%)
5.21 5.91Income Attributable To:Parent Entity Owner 625.04 608.15 2.78%
4.59 4.88Non Controlling Interest 77.96 135.61 (42.51%)Total 703.01 743.77 (5.48%)Earning Per Share (full amount) 101.81 99.06
CONSOLIDATED OF COMPREHENSIVE INCOME 2015
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Description 2015 2014 Growth YoYTotal Current Assets 12,560.29 9,481.21 32.48%
Total Non Current Assets 7,042.12 6,428.01 9.55%
TOTAL ASSETS 19,602.41 15,909.22 23.21%Total Current Liabillties 10,597.53 8,476.04 25.03%
Total Non Current Liabillities 3,566.77 2,556.42 39.52%
TOTAL LIABILLITIES 14,164.30 11,032.47 28.39%Share Capital 614.92 614.92
Tresury Stock (10.27) (10.27)
Additional Paid in Capital 715.86 715.86
Change of Equity in Subsidiaries 1,127.25 1,127.25
Retained Earning 2,013.22 1,523.05 32.18%
TOTAL EQUITY 5,438.10 4,876.75 11.51%Non Controlling Interest 1,062.94 989.17 7.46%
TOTAL LIABILLITIES & EQUITY 19,602.41 15,909.22 23.21%
CONSOLIDATED OF FINANCIAL POSITION 2015
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Description 2015 2014
Received from customer 12,700.43 10,916.21Payment to Suppliers (11,155.71) (10,209.15)Payment for Director (286.83) (279.41)Payment for operating (168.46) (186.84)Deposite Interest 59.69 73.50Payment of interest (431.41) (122.33)Payment of Taxes (479.30) (369.67)CASH FROM OPERATING ACTIVITIES 238.41 (177.69)CASH FROM INVESTING ACTIVITIES (325.09) (1,268.22)CASH FROM FINANCING ACTIVITIES 345.91 2,360.10INCREASE (DECREASE) 259.23 914.19CASH BALANCE & CASH EQUIVALENT EARLY PERIODE 2,300.89 1,386.71CASH BALANCE & CASH EQUIVALENT END PERIODE 2,560.12 2,300.89
CONSOLIDATED STATEMENT OF CASH FLOW 2015
BOARD GUIDANCE#5 PT WIJAYA KARYA (Persero) Tbk. 27
GUIDANCE 2016
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ORDER BOOK, NEW CONTRACT, SALES & NET INCOME 2008 - 2016F
2008 2009 2010 2011 2012 2013 2014 2015 2016F
19,385
13,62012,46311,8859,905
7,7426,0236,5916,559
52,260
25,222
17,63217,73117,12513,568
10,22310,2518,961
86,003
48,523
41,41638,267
33,718
26,591
20,83917,907
14,590
Order Book New Contract Sales Net Income
CAGR Net Income
21.69%CAGR Sales
14.52%
28
156 189 285 354479 570 608 625
750
(stated in Billion IDR)
Spirit of Innovation 29
NEW CONTRACT AND CARRY OVER
ORDER BOOK FY2014 41,416.33 FY2015 48,523.24 FY2016F 86,003.03
FY2016F
FY2014 FY2015 FY2016
7.68%20.61%
55.68%
16.04%
17,631.94
FY2014 FY2015 FY2016F
3.66%
31.93%
58.02%
6.39%
23,784.39
Industry Infra & Building Energy & Industrial Plant Property & realty
NEW CONTRACT CARRY OVER
25,221.76 5.46%4.10%
75.64%
14.80%
23,301.49 1.92%29.23%
64.74%
4.11%
52,259.96
33,743.07
4.52%
13.87%
72.46%
9.14%
2.60%
22.66%
68.92%
5.82%
PT WIJAYA KARYA (Persero) Tbk. 30
NEW CONTRACT BASED ON SCOPE OF WORK (2016F)
Industrial Plant
Precast
Building
Property
Toll, Road&Bridges
Port, Irrigation, DAM
Manufacture&Constr
Bitumen
Power Plant 4,468.6
107
1,045
4,549
26,307
2,363
5,880
3,625
3,914
FY2016F
NEW CONTRACT FY2016F 52,259.96
7.49%
6.94%
34.82%11.25%
4.52%
50.34%
8.70%
1.99%
8.55%
0.20%
PT WIJAYA KARYA (Persero) Tbk. 31
NEW CONTRACT BASED ON PROJECT OWNER
34.82%
50.09%
2010 2011 2012 2013 2014 2015 2016F
31.6%
28.2%
40.2%
51.0%
30.6%
18.4%
55.7%
29%
15.3%
Private SOE Government
63.42%
15.85%
20.73%
39.69%
42.54%
17.77%
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0
1750
3500
5250
7000
2012 2013 2014 2015 2016F
SubsidiariesFixed AssetBusiness DevelopmentCapital Placement
32
1,045.9691.4 753.8
CAPITAL EXPENDITURE 2016F
6,980.62
927.15
Spirit of Innovation | 33
CAPITAL EXPENDITURE 2016F
BOARD GUIDANCE#5 PT WIJAYA KARYA (Persero) Tbk. 34
IR’s UPDATE
Spirit of Innovation
Number of Outstanding
Shares
(as of January 31st,
2016
6.149.225.000
35
SHAREHOLDER’S STRUCTURE
Employees 1.09%
Foreign 15.18%
Indo Mutual Funds 5.86%
Indo Corporates 9.43%
Indonesian 3.39%
Government 65.05%
2016JANUARY
36
FOREIGN OWNERSHIP WIKA SHARES 2007-1M2016
0%
5.5%
11%
16.5%
22%
Jan
May Sep Ja
nM
ay Sep Jan
May Sep Ja
nM
ay Sep Jan
May Sep Ja
nM
ay Sep Jan
May
Sept
15.59%
WIKA’s shares price WIKA’s foreign ownership
IDR 2.815
Spirit of Innovation
DisclaimerThis material is for Information only, and we are not soliciting any action based upon it. This report is not to be construed as an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal. The Information herein has been obtained from sources believed to be reliable, but we do not warrant that it is accurate or complete, and it should not be relied upon as such. Opinion expressed is our current opinion as of the date appearing on this material only, and subject to change without notice. It is intended for the use by recipient only and may not be reproduced or copied/photocopied or duplicated or made available in any form, by any means, or redistributed to others without written permission of PT Wijaya Karya (Persero) Tbk.
37
For further information Please contact Investor RelationsPT Wijaya Karya (Persero) TbkD.I Panjaitan Kav. 9 Jakarta 13340IndonesiaPhone: +62 21 8192808Fax: +62 21 [email protected]
IR contact