performance leader in construction and investment infrastructure through innovation pt pp (persero)...
TRANSCRIPT
Performance Leader in Construction and Investment Infrastructure Through Innovation
PT PP (Persero) Tbk
Jakarta, 5 August 2010
PUBLIC EXPOSE
TABLE OF CONTENTS
Company Overview
Financial Highlights & Target 2010
Section 1Section 1
Stock Performance
Section 2Section 2
Section 3Section 3
Section 4Section 4 Long Term Strategic Plan
2
Section 1 Company Overview
3
1953 1971
2010200419911962
Construction of Hotel
Indonesia
Changed from NV to PT Persero
Diversification to Property and Realty
EMBO (Controlling remains with
GOI )
Public Company
Establishment of
NV PP
Established in 1953 as a house-builder, PP is now one of the largest construction companies in Indonesia
4
COMPANY’S MILESTONES
MISSION
Providing construction services and doing investments to give added value to Stakeholders, supported by healthy financial structure, efficient, innovative, global vision and also having prosperous employees
VISION
To be a leader in construction and investment business by providing
excellence added value to Stakeholders
Construction
Investments
Vision and Mission
5
Nationwide Operation Network and Overseas
We cover Indonesian archipelago with our 3 (three) divisions and 8 (eight) branches
Sumatra
Kalimantan
Papua
Maluku
Jawa
Bali and Nusa Tenggara
Operating Division IIIBranch V : Jawa Tengah, Jawa Timur, DIY Branch VI : KalimantanBranch VII : Bali, NT, Maluku, Papua
Sub Cabang VII : Sulawesi
Sulawesi
Operating Division IBranch I : Aceh, Sumatra UtaraBranch II : Lampung, Bengkulu, Sumsel,
Bangka-Belitung & BantenBranch IX : Sumatra Barat, Jambi, Riau, Batam
Operating Division IIBranch III : JakartaBranch IV : Jawa Barat
6
• Overseas : Saudi Arabia
APARTMENT
BUILDINGS
PORT
CONSTRUCTION
INFRASTRUCTUREHIGH RISE BUILDING
TOLL ROAD
BRIDGES
POWER PLANT
COMMERCIAL CENTRE
OFFICES LANDED HOUSE
PROPERTY
DAM
INFRASTRUCTURE
TOLL ROAD
HOTEL
INVESTMENT
POWER PLANT
Our focus is in construction, while our strategic investments are designed to create constructions opportunities and to maintain a steady revenue stream
7
BUSINESS LINES
PORT
HIGH RISE BUILDINGS
PORT TOLL ROAD
POWER PLANTBRIDGE
Sudirman Palace JACC
Construction of 100,000 m2/month
KOJA
Barelang Cable Stayed Bridge Batam Tonton
The Longest Cable Stay In Indonesia
Muara Karang Combined Cycle Power Plant 1
Interchange Padalarang Toll RoadMKRI
Kuningan Tower
Over the years, PP has completed landmark projects in high rise buildings and various infrastructure projects
8
EXTENSIVE EXPERIENCE
POWER PLANT INFRASTRUCTURE
Power Plant Coal Fired SURALAYA - West Java
Power Plant Coal Fired MUARA KARANG - Jakarta
Combined Cycle Power PlantBELAWAN – North Sumatra
Combined Cycle Power PlantTAMBAK LOROK – Central Java
Hydro Electric Power PlantASAHAN– North Sumatra
Hydro Electric Power PlantSAGULING – West Java
Cimeta Bridge TollwayPADALARANG – West Java
TollwayJORR - Jakarta
TollRoad KARAWANG – West Java
Kapuas River BridgeKAPUAS - Kalimantan
BridgeLubuk Jambi - Riau
9
No. Project Contract
(IDR Million)
1. Power Plant Coal Fired Suralaya 35,838
2. Power Plant Coal Fired Muara Karang 45,839
3. Combined Cycle Power Plant Tambak Lorok 146,852
4. Combined Cycle Power Plant Belawan 29,884
5. Hydro Electric Power Plant Asahan 2,806
6. Hydro Electric Power Saguling 121,522
7. Cimeta Bridge Tollway Padalarang 148,040
8. Tolway JORR Jakarta 105,496
9. Toll Road Karawang 138,649
10. Kapuas River Bridge 4,295
11. Siak Bridge 277,647
EXTENSIVE EXPERIENCE
SOME COMPLETED PROJECTS 2009
10
NO. NAME OF PROJECT TYPE OF PROJECT
PROJECT Value
PROGRESS
VALUE START FINISH
1. ZA GENERAL HOSPITAL NORTH SUMATERA PHASE III BUILDING 136,300,738 03-Jan-08 31-Jul-09 100.00%
2. STRUCTURE OF THE SOUTH APARTMENT JAKARTA BUILDING 101,112,727 16-Jul-07 30-Sep-09 100.00%
3. CYBER DATA JAKARTA BUILDING 80,844,351 15-Jul-08 11-May-09 100.00%
4. GARUDA INDONESIA HEAD OFFICE JAKARTA BUILDING 94,596,020 16-Apr-08 27-Mar-09 100.00%
5. RELIGION DEPARTMENT PHASE III JAKARTA BUILDING 77,272,765 03-Apr-09 19-Oct-09 100.00%
6. SULTAN HOTEL , MANADO BUILDING 126,090,000 16-Apr-08 18-Apr-09 100.00%
7. JL SIAK RAYA MEREMPAN HULU PEKANBARU ROAD 95,686,224 26-Feb-07 31-Dec-09 100.00%
8. JAKARTA – CIKAMPEK TOLL ROAD ROAD 68,300,565 19-Nov-08 17-Jun-09 100.00%
9. JL. SEMBABAM SOUTH KALIMANTAN ROAD 112,573,658 16-Jul-07 26-Sep-09 100.00%
10. 114 DOCK HEAVY IMPROVEMENT JAKARTA OTHERS 51,124,739 06-Dec-07 28-Jan-09 100.00%
11. GELAGAH WAVE BREAKING DEVELOPMENT PHASE IV CENTRAL JAVA PORT 63,291,533 14-Aug-08 16-Dec-09 100.00%
12. PENAJAM WHARF DEVELOPMENT PORT 72,727,273 01-Oct-08 20-Jul-09 100.00%
(IDR MILLION)
11
Section 2 Financial Highlight & Target 2010
203 239 280 333 425
548
1,416
-200 400 600 800
1,000 1,200 1,400 1,600
2004 2005 2006 2007 2008 2009 2010 F
1,313 1,826 1,972 2,100
2,784
4,126
6,091
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
2004 2005 2006 2007 2008 2009 2010 F
REVENUE
IDR Billion
IDR Billion
EARNING AFTER TAX
ASSET EQUITYIDR Billion
Leveraging on our strengths, we have delivered robust growth….
IDR Billion
29.1 % (CAGR)
38.2 % (CAGR)
12
FINANCIAL HIGHLIGHT
1,681 2,254 2,438
3,218 3,934 4,203
6,715
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
2004 2005 2006 2007 2008 2009 2010 F
26.0% (CAGR)
54.566.9 76.8 93.0
121.6
163.2
335.2
0.0
100.0
200.0
300.0
400.0
2004 2005 2006 2007 2008 2009 2010 F
35.4 % (CAGR)
F : Forecast
We are delivering higher than industry operating margin supported by our cost competitiveness, particularly by process innovation
OPERATING PROFIT MARGIN NET PROFIT MARGIN
13
*
2006 2007 2008 2009 20100.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
7.00%
8.00%
9.00%
10.00%
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
7.00%
8.00%
9.00%
10.00%
6.30%6.10% 6.80%
8.80% 8.98%
5.40%5.80% 5.50%
7.70%8.21%
Operating Profit Margin Industry Average
2006 2007 2008 2009 20100.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
3.2% 2.9% 3.1%3.9%
5.0%
2.7% 2.6%1.8%
3.0%
3.3%
Net Profit Margin Industry Average
COMPETITIVE COST STRUCTURE
F F
F : Forecast
14
2004 2005 2006 2007 2008 2009 2010F
Sales (IDR Million) 1,680,813 2,254,209 2,438,109 3,218,121 3,933,669 4,203,313 6,715,159
Net Income (IDR Million) 54,515 66,908 76,738 92,987 121,609 163,260 335,209
Amount of Employee 1,173 1,171 1,143 1,142 1,213 1,213 1,397
Productivity Based on Sales 1,433 1,925 2,133 2,818 3,243 3,465 4,807
Productivity Based on Profit 46.47 57.14 67.14 81.42 100.25 134.59 240
EMPLOYEE PRODUCTIVITY 2004 - 2010
2004 2005 2006 2007 2008 2009 2010F -
1,000
2,000
3,000
4,000
5,000
6,000
1,433
1,925 2,133
2,818 3,243
3,465
4,807
Productivity Based on Sales
Productivity Based on Sales
RA
TIO
2004 2005 2006 2007 2008 2009 2010F -
50.00
100.00
150.00
200.00
250.00
300.00
46.47 57.14
67.14 81.42
100.25
134.59
240 Productivity Based on Profit
Productivity Based on Profit
RA
TIO
Q2 – 2010 Q2 – 2009
REVENUE 1.353.145 1.512.787
COST OF CONTRACT (1.246.674) (1.401.874)
GROSS PROFIT AFTER J.O 142.136 137.265
NET INCOME 25.218 11.377
(IDR Million)
INCOME STATEMENT
15
Q2 – 2010 Q2 – 2009
CURRENT ASSETS 4.455.894 3.331.837
NON CURRENT ASSETS 202.301 159.517
TOTAL ASSETS 4.658.195 3.491.354
CURRENT LIABILITIES 2.914.720 2.850.932
NON CURRENT LIABILITIES 658.062 204.166
EQUITY 1.085.413 436.255
TOTAL LIABILITIES + EQUITY 4.658.195 3.491.353
BALANCE SHEET
(IDR Million)
16
Q2 – 2010 Q2 – 2009
CARRY OVER 2.597 2.504
NEW CONTRACT 2.114 2.065
ORDER BOOK 4.711 4.569
ORDER BOOK
(IDR Billion)
17
New Contract 2010
Breakdown by Type of ProjectBreakdown by Project Owner
Building; 47%
EPC; 22%
Infrastructure31%
Government; 53%
SOE; 13%
Private; 8%
Overseas; 4%
Investment; 22%
JO;21%
Non JO;
79%
Chart Title
Breakdown by JO and Non JO
JO, or Joint Operation, are projects where PT PP is having a Joint Operation with other company(ies) to work on huge scale project and/or project that needs sophisticated competencies.
18
Building 66%
Infrastructure 29%
EPC 5%
Breakdown by Type of Project
Government
57%
SOE 21%
Private 18%
Investment4%
Breakdown by Project Owner Revenue 2010
New Contract
JO1,758
New Contract Non JO4,296
Carry Over2,504
Revenue4,203 2,6 T
2009
Ord
erbo
ok
New Contract
JO2,800
New ContractNon JO10,800 2,597
2010
Ord
erbo
okCarry Over
2,597
6.682
Revenue6,715
ORDER BOOK
19
(IDR Billion)
8,558
16,277
Carry Over 2010
Carry Over 2011
N0 NAME OF PROJECTTYPE OF PROJECT
PROJECT VALUE
PROGRESS VALUE START FINISH
1. SPR PADANG PLAZA PHASE I BUILDING 75,620 28-Jun-10 27-Dec-10 0 %
2. TIFFANI APARTMENT, KEMANG BUILDING 63,664 14-Apr-10 13-Apr-11 11,03 %
3. EMERALD BUILDING 98,070 01-May-10 30-Sep-11 0,68 %
4. TOWER 165 BUILDING 55,030 02-Jun-10 12-May-11 0,98 %
5. CITY CENTRE BUILDING 94,696 15-Jun-10 12-Apr-12 0,53 %
6. MARKET OF PONDOK GEDE PHASE 2 BUILDING 61,113 22-Feb-10 10-Aug-10 48,98 %
7. TANGERANG CITY, ARCHITECTS BUILDING 134,775 24-Apr-10 15-Dec-10 1.51 %
8. PASAR BARU MALL AND CONDOTEL BUILDING 64,762 14-Apr-10 31-Dec-10 66,58 %
9. KARUWISI MALL BUILDING 45,900 08-Mar-10 01-Jan-11 41,74 %
10. IRRIGATION AFP IRRIGATION 83,075 05-Jul-10 05-Sep-11 0 %
11. WEIR LEUWI GOONG 1 IRRIGATION 51,514 01-Jun-10 30-Jun-11 0 %
12. BATURUSA BRIDGE II, BANGKA BELITUNG ROADS / BRIDGES 134,051 03-Mar-10 12-Feb-12 0 %
13. TOLL WIDENING CIBITUNG ROADS / BRIDGES 37,301 14-Apr-10 20-Jul-10 78,45 %
14. JAMBI PORT PORT 54,820 18-Mar-10 31-Dec-10 33,89 %
15. PANJANG PORT (PELINDO II) PORT 53,121 23-Mar-10 31-Dec-10 25,32 %
16. PALEMBANG PORT (PELINDO II) PORT 43,935 18-Mar-10 31-Dec-10 30,84 %
17. SEBUKU PHASE II OTHERS 127,421 07-May-10 14-Nov-10 41,55 %
18. PRINCE NAIF APARTMENT, JEDDAH OVERSEAS 16,366 16-Jun-10 16-Oct-10 14 %
SOME NEW CONTRACTS AS OF Q2 - 2010
20
(IDR MILLION)
21
Section 3 Stock Performance
22
100%566,064
41%Working Capital
232,087
5%Commercial Center
28,303
7%Hotels39,624
47%Power plant 2 x 150 MW
266,050
59%Investment
333,977
Use of Proceed ( IDR Million)
Listing Date February 9, 2010
IDX Code PTPP
Listing Price IDR 560
Issued Share 1,038,976,500 (21.46 % of total shares)
Number of Share 4,842,436,500
NO DESCRIPTIONPLAN
AS PROSPECTUS
REALas of Q2
2010
1 Investment through shares participation in Power Plant Construction 2 x 150 MW in Cilegon
266.050 5.174
2 Investment in Hotel development in Bali and Bandung
39.624 0
3 Investment in Commercial Center development in Surabaya
28.303 0
4 Working Capital 232.086 195.000
TOTAL 566.064 200.174
(Dalam Jutaan Rupiah)
Saldo dana ditempatkan dalam Deposito23
USE OF PROCEED REPORT AS OF Q2 - 2010
IDR 770
(Volu
me M
illion
)
82
0
Pri
ce
(ID
R)
550
665
780
SHARE MOVEMENT 9 FEBRUARY – 26 JULY 2010
July 26, 2010Volume = 56,03 Million
Value = 42.7 BillionMarket Cap = 3.7 Trillion
24
25
AVERAGE VALUE DAILY TRADING AMOUNT TO Rp13.18 BILLION /DAY
THE BIGGEST MARKET CAPITALIZATION IN CONSTRUCTION INDUSTRY A TOTAL OF Rp3.2 TRILLION
RECOGNITION OF COMPANY STRONG FUNDAMENTAL
EXPAND INVESTOR BASE
TIGHT CRITERIA INTO THE PRESTIGIOUS MSCI INDEX
THE BEST POSITION TO BE ON LQ45
PTPP’s SHARE GROUPED IN MSCI INDEX
26
Section 4 Long Term Strategic Plan
SBU
ORGANIC
CO
NS
TR
UC
TIO
NIN
VE
ST
ME
NT
DO
ME
ST
IC
EPC
OVERSEAS
UN-ORGANIC
STRATEGIC
INF
RA
ST
RU
CT
UR
E
DE
VE
LO
PE
R
HO
TE
L
MA
RG
INM
AR
GIN
SS IPO IPO/SSP
OW
ER
PL
AN
TSS
PT PP ROAD MAP
27
Plaza PP – Subiyanto Building Jl. Letjend. TB. Simatupang No 57
Pasar Rebo, Jakarta 13760 – IndonesiaTelp. (021) 840 3883 ; Fax. (021) 840 3890
website : www.pt-pp.com