PT. WASKITA BETON PRECAST, Tbk

Company Update1Q 2017

2

Who We Are

Karawang Plant (2016)

3

Establishment of Precast Division

Precast Division

Establishment of PT WaskitaBeton Precast as subsidiary

October 2014

2013

2014

20152016

Public

IPO PT Waskita Beton Precast TbkSeptember 2016

59.99% 40.01%

Vision

To Become Leading Company

In Indonesia In Manufacturing

Sector of Precast, Readymix,

Quarry, Construction

Service And Post-tension Precast

Concrete

0.62

0.80

1.802.65

4x

x Production Capacity (Million Ton per Year)

We have grown significantly since our first inception in 2013

Our main products are Precast and Readymix Concrete

4

35%

65%

Precast Readymix

Cibitung(350,000 ton)

Sidoarjo(325,000 ton)

Palembang(100,000 ton)

Kalijati(250,000 ton)

Karawang(400,000 ton)

Bojonegara(200,000 ton)

Subang(300,000 ton)

Klaten(100,000 ton)

Sadang(375,000 ton)

Gasing(250,000 ton)

Plant Location

JABODETABEK1. Cengkareng2. Desari3. Karawaci4. Becakayu5. Cakung6. Bocimi7. Cibubur8. Kemayoran

NORTH SUMATRA1. Kuala Tanjung2. MKTT

SOUTH SUMATRA1. Lampung2. Sedyomulyo3. Bandara Palembang4. Jakabaring I5. Jakabaring II

EAST JAVA1. Darmo2. Paspro

CENTRAL JAVA1. Masaran2. Banaran3. Balerejo4. Sidoharjo5. Kebun Romo6. Grudo I 7. Grudo II8. Baderan9. Sidowah10. Balamoa 11. Petarukan12. Gringsing13. Adiwerna14. Warurejo

Batching Plant (BP) Location

Existing Plants

NORTH SULAWESI1. Manado - Betung

15. Pegandon16. Warung Asem17. Kandeman18. Kaliwungu I19. Kaliwungu II20. Sragi21. Paspro Grati22. Walikukun23. Tongas

We have developed a number of Product Lineup

5

Pre

cast

Pro

du

cts

L GUTTERU DITCH CCSP U GUTTER DIAFRAGMA WALLFCSP

BOX GIRDER PCI GIRDER

PCU GIRDER

PCT GIRDER SPUN PILE 60cmSQUARE PILE

RC PLATE BARRIER HALF SLABFULL SLAB VOIDED SLAB

SPUN PILE 1,2m

K100 – K700Rea

dym

ix P

rod

uct

s

6

463,200

1,160,000

1,561,229

-

200,000

400,000

600,000

800,000

1,000,000

1,200,000

1,400,000

1,600,000

1,800,000

2014 2015 2016

(In ton) (In ton)

800,000

1,800,000

2,650,000

3,250,000 58%

64%

70%

40%

50%

60%

70%

80%

-

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

3,500,000

2014 2015 2016 2017F

‘14-’16 CAGR 82%

CAGR 84%

In 2016, plant’s capacity and precast production is tripled from 2014

Gradually, plants achieved better efficiency as reflected by total utility’s increase

Capacity & Utility Precast Production Volume

Capacity expansion ensures our future growth

7

Our Competitive Edge

Cimanggis – Cibitung Tollroad (2016)

Synergy with WSKT Group has given us competitive advantages

8

Year 2014 2015 2016 2017FContract Value

(IDR)3.3 T 2.2 T 12.2 T POTENTIALS

Projects

Bekasi-Cawang-Kp.Melayu (BecakayuSeksi 1-2)

Pejagan Pemalang (Seksi 3) Pejagan Pemalang (Seksi 4) Probolinggo – Banyuwangi *

Pejagan Pemalang (Seksi 1-2) Kuala Tanjung Port Cimanggis Cibitung Paket 2 Cinere -Serpong

Depok - Antasari Tollroad MKTT Pemalang Batang Manado - Bitung

Solo - Ngawi (Seksi 1-2) Batang Semarang Terbanggi Besar – Kayu Agung

Ngawi Kertosono Bogor Ciawi 2 – 4 Jakarta – Cikampek Elevated

Cimanggis Cibitung Paket 1 LRT – Palembang Terbanggi Besar - Mesuji

Legundi – Bunder Kediri – Kertosono *

Kayu Agung- Palembang –Betung

Japanan Mojosari – Mojokerto*

Pasuruan – Probolinggo Dermaga Kijing

Boyolali – Salatiga Penajam – Balikpapan *

Higher margin via Turnkey Higher marketing performanceCompetitive Advantages

1 2

VERTICAL INTEGRATION

*concession has not been awarded

1. Enabling higher margin via Turnkey

9

1

A type of project that the payment is done after the project is fully completed

Turnkey projects offer higher margin due to built-in financing scheme

Definition Gross Margin

Becakayu Cimanggis – Cibitung Legundi Bunder

Rp 2.23 TnRp 3.05 Tn Rp 2.67 Tn

Project Example

52% of total Project

Contribution

2. Obtains higher marketing performance

10

495 355 430 15 558 329 731 303

3,046

1,971

11,066

4,099

4,099

2,655

12,227

2014 2015 2016 2017 (1Q)

Internal External Business Development Total New Contract

New Contract Achievement

‘14 – ’16 CAGR 72.7%

(In Rp Billion)

4,4174,408

5,871

15,051 14,593

2014 2015 2016 2017 (1Q)

‘14 – ’16 CAGR 84.8%

Notes : 2017 record is for Q1 only

Total Orderbook

(In Rp Billion)

• New Contract per Mar 2017: Rp 4.4 Tn.

• Contracts mainly supported by business development projects.

• Orderbook as per Mar 2017: Rp 14.6 Tn (including Carryover 2016 of Rp 10.2 Tn)

• In just 1Q, current 2017 orderbook has achieved ~97% of 2016 value

2

11

These competitive edges are reflected in our contract achievement

No Project in 2017 Value (Rp Bn)

1 Jakarta – Cikampek Elevated Tollroad 593.92

2 Readymix, Spun Pile, PCI Girder - Pematang Panggang - Kayu Agung Tollroad 790.77

3 Kunciran – Serpong Tollroad 344.0

4 Readymix - Krian Legundi Bunder Tollroad 272.22

5 Girder, Spun Pile - Krian Legundi Bunder Tollroad 274.71

6 Gempol – Porong Tollroad 132.62

No Project in 2016 Value (Rp Bn)

1 Precast & Readymix Legundi-Bunder Tollroad 2,600.00

2 Precast, Readymix - Tol Cimanggis - Cibitung (Seksi 2) Tollroad 2,230.24

3 Precast, readymix Batang Semarang Tollroad 1,509.76

4 LRT Palembang 1,021.51

5 Bogor Ciawi Sukabumi Tollroad, Section 2,3,4 790.76

6 Kayu Agung - Palembang - Betung Tollroad 704.76

7 Precast, Readymix - Pemalang - Batang Section I Tollroad 481.16

8 Terbanggi Besar - Kayu Agung Tollroad, Terbanggi Besar - Mesuji Section, 25 KM 469.05

9 Readymix - Pasuruan - Probolinggo Tollroad 388.07

10 Pejagan - Pemalang Section IV Tollroad 368.05

11 Readymix, Precast - Section IV Salatiga – Boyolali Section 260.51

12 CCSP river & drainage normalization, DKI Jakarta 229.20

13 PCI Girder - Manado – Bitung Tollroad 142.89

14 Spun Pile – North Jakarta Giant Sea Wall 120.64

15 Other Projects, @ < Rp 10 Billion 110.84

Efficiencies are pushed forward to support better margin

12

Quarry

HORIZONTAL INTEGRATION

Mixer Truck

Location Capacity Status

Sambirejo, Sragen 100 Ton/day Production

Ungaran, Semarang 100 Ton/day Production

Rumpin, Bogor 130 Ton/day Exploration

Talun, Pekalongan 130 Ton/day Exploration

We own majority of our Mixer Trucks in operation for Readymix

Concrete to provide better operating margin

13

Performance Delivered

LRT Palembang (2017)

Major Contracts Progress

14

Solo Kertosono

• Contract Value: Rp 1.00 Tn

• Progress: 58.2%

LRT Palembang

• Contract Value: Rp 963.28 Bn

• Progress: 85.31%

Cimanggis – Cibitung

• Contract Value: Rp 2.23 Tn

• Progress: 20.87%

Becakayu

• Contract Value: Rp 3.05 Tn

• Progress: 92.6%

*Exclude PPN

Jakarta – Cikampek Elevated

• Contract Value: Rp 563.92 Bn

• Progress: %

Semarang – Batang

• Contract Value: Rp 1.51 Tn

• Progress: %

Legundi - Bunder

• Contract Value: Rp 2.67 Tn

• Progress: %

Bogor – Ciawi –Sukabumi

• Contract Value: Rp 790.76 Bn

• Progress: %

702.17 744.87 1,330.83 1,732.22

7,405.50 7,601.75

2014A 1Q 2015 2015A 1Q 2016 2016A 1Q 2017

1,202.61 1,575.17

4,332.41 5,824.58

13,734.27 13,998.94

2014A 1Q 2015 2015A 1Q 2016 2016A 1Q 2017

15

Balance Sheet Position

Total Asset Interest Bearing Debt

Total Equity

(in Rp Billion)

CAGR*238%

CAGR* 225%

- -

761.04 1,182.70

3,355.99 3,681.19

2014A 1Q 2015 2015A 1Q 2016 2016A 1Q 2017

*Notes: CAGR is for annual value only

16

Earnings Performance

Revenue COGS

EBITDA Net Income

641.93

2,644.32

4,717.15

345.88 705.87

1,218.41

2014 2015 2016 2017

495.23

2,224.89

3,667.09

294.16 507.11

956.15

2014 2015 2016 2017

149.20

450.73

1,112.91

130.08 125.56 249.22

2014 2015 2016 2017

140.31

334.37

634.82

42.70 101.39

196.25

2014 2015 2016 2017

22.85% 15.86% 22.26% -

- 14.95% 28.16% 21.52%

FY

1Q

Gro

ss M

argi

n

23.24% 17.05% 23.59% -

- 37.61% 17.79% 20.45%

FY

1QEBIT

DA

Mar

gin

21.86% 12.64% 13.46% -

- 12.35% 14.36% 16.11%

FY

1QNet

Mar

gin

CAGR 171%

CAGR 88%

CAGR 172%

CAGR 80%

CAGR 113%

CAGR 114%

CAGR 173%

CAGR 38%

(in Rp Billion)

1.96

0.41

1.711.52

0.62

1.59

2014 2015 2016 2017

FY 1Q

17

Financial Ratio

Return on Equity Ratio Return on Assets Ratio

Debt to Equity Ratio Current Ratio

0.00

0.57

0.45

0.00

0.68

0.48

2014 2015 2016 2017

FY 1Q

21.26%

25.13%

14.53%

5.73% 5.85%2.58%

2014 2015 2016 2017

FY 1Q

11.67%

7.72% 7.03%

2.71%1.74% 1.40%

2014 2015 2016 2017

FY 1Q

-7% 2%CAGR

-17% -33%CAGR -22% -28%CAGR

Financial Report:Profit and Loss Statement

18

2014A 1Q 2015 2015A 1Q 2016 2016A 1Q 2017

Sales 641,931 345,876 2,644,320 705,867 4,717,150 1,218,414

Cost of good sold (495,226) (294,164) (2,224,890) (507,108) (3,667,088) (956,152)

Gross Profit 146,705 51,712 419,430 198,759 1,050,062 262,262

Gross Profit Margin 23% 14.95% 15.86% 28.16% 22.26% 21.52%

Operating Cost

Selling expenses (102) (256) (2,322) (264) (4,281) (1,987)

General & administrative expenses (4,700) (9,568) (53,754) (10,532) (92,731) (30,686)

Total Operating Cost (4,802) (9,824) (56,076) (10,795) (97,012) (32,673)

Operating Profit 141,903 41,888 363,354 187,964 953,050 229,589

Operating Profit Margin 22% 14% 27% 20% 19%

Other income (expense)

Other income 1,024 1,353 2,600 1,287 58,852 44,737

Other expenses (229) (237) (20,405) (4,736) (61,273) (16,383)

Net Revenue of Joint Venture - - - - 16,716 -

Total other income (expense) 794 1,115 (17,805) (3,450) 14,295 28,354

Earning before income taxes 142,497 43,004 345,550 184,514 967,345 257,943

Income taxes (2,392) (300) (11,181) (83,120) (332,525) (61,692)

Net profit 140,305 42,704 334,369 101,394 634,820 196,251

Net Profit Margin 21.86% 12.35% 12.64% 14.36% 13.46% 16.11%

EBITDA 149,201 130,082 450,733 125,560 1,112,910 249,221

EBITDA Margin 23% 38% 17% 18% 24% 20%

(in Rp Million)

Financial Report:Balance Sheet

19

(in Rp Million)

2014A 1Q 2015 2015A 1Q 2016 2016A 1Q 2017

ASSET

Cash and cash equivalent 272,221 90,889 98,186 399,568 4,205,820 3,118,612

Account Receivables 640,472 979,243 511,946 922,752 3,046,134 3,421,570

Other Receivables 4,950 4,950 4,954 5,074 5,492 5,851

Inventory 21,179 74,776 54,551 146,715 231,947 373,852

Prepaid taxes 31,473 51,649 181,373 254,765 291,621 330,599

Prepaid expenses 10,636 64,341 152,655 204,445 351,606 453,565

Total Current Assets 980,931 1,265,848 1,003,665 1,933,319 8,132,621 7,704,049

Account Receivables - - 2,320,143 2,436,547 3,609,830 4,133,583

Investment of Joint Venture - - - - 17,819 17,819

Fixed assets 221,675 309,324 987,351 1,425,884 1,932,852 2,085,742

Deffered taxes - - - - 2,843 5,498

Other assets - - 21,249 28,830 38,303 52,246

Total Non-Current Assets 221,675 309,324 3,328,743 3,891,261 5,601,647 6,294,888

Total Assets 1,202,606 1,575,171 4,332,408 5,824,580 13,734,267 13,998,937

LIABILITIES

Account Payable 131,170 261,889 730,169 954,340 1,541,852 1,419,601

Gross liabilities 284,915 422,555 1,062,218 1,063,236 891,651 753,645

Taxes payable 34,075 60,067 208,284 304,264 161,773 203,871

Short-term contract DP 2,171 33,036 48,148 92,374 123,587 117,310

Accrued expenses 48,015 52,620 77,188 80,241 83,989 86,189

Bank loans - - 301,785 306,186 1,907,061 2,232,270

Other Liabilities 94 135 4,389 304,627 56,405 22,616

Total Current Liabilities 500,441 830,302 2,432,181 3,105,268 4,766,317 4,835,504

Long-term bank loans - - 459,255 876,516 1,448,924 1,448,924

Other long-term liabilities - - 109,330 109,763 111,533 110,766

Pension fund liability - - 816 816 1,992 1,992

Total Long-term Liability - - 569,401 987,095 1,562,449 1,561,682

Total Liability 500,441 830,302 3,001,582 4,092,364 6,328,766 6,397,186

EQUITY

Common Stock 617,572 617,572 835,056 1,135,056 2,636,116 2,636,116

Additional Paid-in Capital (55,711) (55,711) (73,554) (73,554) 3,944,529 3,944,529

Retained Earnings 140,304 183,008 474,673 576,066 730,206 946,457

Other Equity Component - - 94,650 94,650 94,650 94,650

Total Equity 702,165 744,870 1,330,825 1,732,218 7,405,501 7,601,752

Total Liabilities and Equity 1,202,606 1,575,171 4,332,407 5,824,582 13,734,267 13,998,937

Financial Report:Cash Flow

20

2014A 1Q 2015 2015A 1Q 2016 2016A 1Q 2017

Cashflow from Operations

Cash collected from customers 3,630 298,254 573,119 517,862 978,966 211,290

Cash paid to suppliers & third parties (87,304) (387,124) (1,238,659) (941,155) (3,620,933) (1,245,521)

Payment for Finance Cost (22,705) (78,690)

Tax Income/(expenses) - 7,625 (11,022) (21,653) (244,156) (28,175)

Other income/(expenses) (1,333) 310 (9,573) 4,257 (148,782) 43,934

Net Cash from Operations (85,007) 82,055 (686,135) 463,375 (3,034,905) (1,117,498)

Cashflow from Operations

Capital Expenditure (21,615) (99,277) (123,555) (612,241) (832,216) (103,816)

Placement on Joint Venture - - - - (1,104)

Net Cash from Investing (21,615) (99,277) (123,555) (612,250) (833,320) (103,816)

Cashflow from Financing

Prepayments for stock issuance - - - - (86,210) -

Cash receipts from banks - - 500,655 921,516 3,367,539 388,572

Cashpaid to banks 378,844 - 135,000 - (772,256) (254,466)

Cash receipts from capital deposit - - - 300,000 5,466,787 -

cash receipts from non-bank related parties - - - 435,000 - -

Net Cash From Financing 378,844 - 635,655 1,656,516 7,975,859 134,106

Net increase/(decrease) in cash held 272,221 (191,332) (174,035) 580,901 4,107,635 (1,087,208)

Cash at the beginning of the year - 272,221 272,221 (181,332) 98,186 5,205,820

Cash at the end of the year 272,221 90,889 98,186 399,568 4,205,820 3,119

(in Rp Million)

21

2017 Target

Jakabaring Palembang Batching Plant (2017)

2017 Target

22

Financial

• Revenue : Rp 7.75 Trillion

• Net Profit : Rp 1.13 Trillion

Operational

• New Contract : Rp 12.38 Trillion

• Production Capacity : 3.25 Million tons

• Utilization : 70%

% to 2016 Achievement

+64.3%

+78.0%

+1.3%

+22.6%

+0.0%

23

715

1174

700

140

67

197214

500

0

47

256

0

0

200

400

600

800

1000

1200

1400

1600

1800

2000

2016F 2017F 2018F

Precast Readymix Quarry Truk Mixer

(in Rp Billion)

WSBP Plan in Capital Expenditure

2016F 2017F 2018F Total

Precast 715 1174 700 2.589

Readymix 140 67 197 404

Quarry 214 500 - 714

Truk Mixer 47 256 - 303

Total 1.116 1.997 897 4.010

(in

Rp

Bill

ion

)

Capital Expenditure Plan

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 thesolicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal. The information herein has beenobtained 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 theuse by recipient only and may not be reproduced or copied/photocopied or duplicated or made available in any form, by any means, orredistributed to others without written permission of PT Waskita Beton Precast.

Thank You

Head Office: Gedung Teraskita Jakarta, 3 & 3A Floor Jl. MT. Haryono Kav. No. 10A Cawang, Jakarta 13340Ph. (+6221) 22892999Website: www.waskitaprecast.co.id