You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
ADHI PRESENTATION<br />
RHB OSK CONFERENCE<br />
Jakarta, 7 May 2014
MILESTONE ADHI<br />
1960 1974 2004 July 2011<br />
PN Adhi Karya nationalized<br />
Dutch Company Associatie<br />
N.V.<br />
PT Adhi Karya<br />
(Persero)<br />
PN Adhi Karya<br />
changed to PT Adhi<br />
Karya (Persero)<br />
• Go Public 18<br />
March 2004<br />
• ADHI, first SOE<br />
Construction Listed<br />
in Indonesia Stock<br />
Exchange<br />
TRANSFORMASI ADHI :<br />
• Change Vision & Mission<br />
• Ratify RJPP 2012-2106, 5 Line of Business<br />
[CONSTRUCTION, EPC, PROPERTY, REAL ESTATE, INVESTMENT<br />
INFRASTRUCTURE]<br />
• Organization Restructure<br />
• Establishment of ADHI Learning Center<br />
• Company Value:<br />
• Bekerja Cerdas<br />
• Berintegritas Corporate Culture<br />
• Bersahaja<br />
Base philosophy Corporate Culture:<br />
Bekerja adalah Ibadah<br />
2014 2013<br />
2012<br />
Establishment APG & APB<br />
MoU Monorel<br />
(JLT, ACT, AMPS)<br />
Grandhika<br />
Blok M Hotel<br />
Precast Factory<br />
Property and Real<br />
Estate Development<br />
Establishment<br />
APP & APR
LINE OF BUSINESS<br />
CONSTRUCTION<br />
Building<br />
Airport<br />
Seaport<br />
Road & Toll Road<br />
Bridge<br />
Water Resources<br />
Railway<br />
EPC<br />
Power Plant<br />
Industry<br />
Oil & Gas<br />
PROPERTY<br />
Apartment<br />
Offices<br />
Condotel<br />
Hotel<br />
REAL ESTATE<br />
Housing<br />
Mall<br />
Store<br />
INVESTMENT<br />
Manufacture<br />
Precast Concrete<br />
Transportation<br />
Independent<br />
Power Producer<br />
APG<br />
EPC Division<br />
APP<br />
APR<br />
APB<br />
Construction Division<br />
1 -6<br />
Hotel Division<br />
PMU IPP*<br />
PMU Transportation*
AWARDS<br />
2009<br />
2010<br />
2010<br />
2011<br />
2011<br />
2011-2012<br />
GCG AWARD<br />
Best Disclosure &<br />
Transparency<br />
Fortune 100<br />
100 Largest<br />
Company in<br />
Indonesia<br />
BUMN Award<br />
Best GCG<br />
CGPI<br />
As Trusted<br />
Company<br />
(Corporate<br />
Governance<br />
Perception Index)<br />
Best of THE BEST<br />
Awards<br />
The ‘A’ List<br />
40 Top Performing<br />
Small & Midsized<br />
Company<br />
Indonesia<br />
Biodiversity<br />
Foundation<br />
(KEHATI)<br />
2011-2013<br />
2012<br />
2012<br />
2013<br />
2013<br />
2013<br />
IMAC<br />
(Indonesia’s<br />
Most Admired<br />
Companies)<br />
The Banker’s<br />
Choice Award<br />
for Leading<br />
Corporation in<br />
Indonesia<br />
Indonesia<br />
Construction<br />
Award from<br />
LPJKN &<br />
Ministry of<br />
Public Works<br />
Asia’s Best<br />
Companies<br />
Rank 1<br />
Small-Medium<br />
Cap<br />
Achievement<br />
Award for<br />
“BUMN Peduli”<br />
from SOE<br />
Ministry<br />
Superbrands<br />
Award
SHARES OWNERSHIP<br />
OUTSTANDING SHARES 1.801.320.000<br />
GOVERNMENT 918.680.000<br />
PUBLIC 882.640.000<br />
FY2013<br />
1Q14<br />
51%<br />
38%<br />
51%<br />
35%<br />
11%<br />
14%<br />
Government<br />
Foreign<br />
Local
ADHI SHARES 1Q14<br />
6000<br />
5000<br />
4.327<br />
IDX<br />
Growth Since 1 Jan 2014<br />
10%<br />
4.768<br />
4000<br />
2.995<br />
3000<br />
1.540<br />
2000<br />
1000<br />
ADHI<br />
Growth Since 1 Jan 2014<br />
94%<br />
0<br />
02-01-14 09-01-14 16-01-14 23-01-14 30-01-14 06-02-14 13-02-14 20-02-14 27-02-14 06-03-14 13-03-14 20-03-14 27-03-14
ADHI INCOME STATEMENT<br />
(in million IDR) 2013 % 2012 % %G 1Q14 % 1Q13 % %G<br />
Revenue 9.799.598 100,0% 7.627.703 100,0% 28,5% 1.439.602 100,0% 1.360.349 100,0% 5,8%<br />
Cost of Contract (8.606.444) -87,8% (6.671.815) -87,5% 29,0% (1.308.208) -90,9% (1.252.488) -92,1% 4,4%<br />
Gross Profit 1.193.155 12,2% 955.888 12,5% 24,8% 131.394 9,1% 107.860 7,9% 21,8%<br />
Profit (Loss) JO 54.557 0,6% 87.331 1,1% -37,5% 1.020 0,1% 26.322 1,9% -96,1%<br />
Gross Profit after JO 1.247.711 12,7% 1.043.220 13,7% 19,6% 132.415 9,2% 134.182 9,9% -1,3%<br />
Operating Expense (328.961) -3,4% (250.824) -3,3% 31,2% (62.865) -4,4% (50.443) -3,7% 24,6%<br />
Operating Profit 918.751 9,4% 792.396 10,4% 15,9% 69.550 4,8% 83.739 6,2% -16,9%<br />
Other Income (Expense) (96.467) -1,0% (282.857) -3,7% -65,9% 16.028 1,1% (20.051) -1,5% -179,9%<br />
E B I T 822.283 8,4% 509.540 6,7% 61,4% 85.578 5,9% 63.688 4,7% 34,4%<br />
Interest Expense (107.919) -1,1% (86.224) -1,1% 25,2% (24.300) -1,7% (13.824) -1,0% 75,8%<br />
E B T 714.365 7,3% 423.315 5,5% 68,8% 61.279 4,3% 49.864 3,7% 22,9%<br />
Tax (305.927) -3,1% (209.998) -2,8% 45,7% (44.649) -3,1% (38.212) -2,8% 16,8%<br />
E A T 408.438 4,2% 213.318 2,8% 91,5% 16.630 1,2% 11.652 0,9% 42,7%<br />
Min. Int. in Subs. (2.461) 0,0% (1.727) 0,0% 42,5% (393) 0,0% (127) 0,0% 210,2%<br />
Net Income 405.977 4,1% 211.590 2,8% 91,9% 16.236 1,1% 11.525 0,8% 40,9%
ADHI BALANCE SHEET<br />
(in million IDR) 2013 % 2012 % %G 1Q14 % 1Q13 % %G<br />
Cash & Bank 1.939.960 20,0% 948.846 12,1% 104,5% 778.779 8,3% 1.113.576 13,5% -30,1%<br />
Receivables 4.736.454 48,7% 4.563.922 58,0% 3,8% 4.837.702 51,8% 4.592.687 55,6% 5,3%<br />
Inventory 1.057.844 10,9% 522.339 6,6% 102,5% 1.173.145 12,6% 560.697 6,8% 109,2%<br />
Advance Payment 226.061 2,3% 267.826 3,4% -15,6% 209.711 2,2% 272.936 3,3% -23,2%<br />
Other Current Assets 1.139.148 11,7% 980.165 12,5% 16,2% 1.670.300 17,9% 1.117.470 13,5% 49,5%<br />
Current Asset 9.099.467 93,6% 7.283.097 92,5% 24,9% 8.669.637 92,9% 7.657.366 92,7% 13,2%<br />
Fixed Asset - Net 271.257 2,8% 187.437 2,4% 44,7% 291.763 3,1% 194.511 2,4% 50,0%<br />
Other Non Current Asset 350.238 3,6% 401.539 5,1% -12,8% 373.185 4,0% 410.128 5,0% -9,0%<br />
TOTAL ASSETS 9.720.962 100,0% 7.872.074 100,0% 23,5% 9.334.585 100,0% 8.262.004 100,0% 13,0%<br />
Account Payables 4.767.420 49,0% 4.276.690 54,3% 11,5% 4.378.615 46,9% 3.836.466 46,4% 14,1%<br />
Contract Advances 705.176 7,3% 691.557 8,8% 2,0% 683.369 7,3% 625.692 7,6% 9,2%<br />
Bank Loans & Bonds 1.708.776 17,6% 948.658 12,1% 80,1% 1.596.093 17,1% 1.622.259 19,6% -1,6%<br />
Other Liabilities 991.127 10,2% 774.249 9,8% 28,0% 1.233.768 13,2% 985.000 11,9% 25,3%<br />
TOTAL LIABILITIES 8.172.499 84,1% 6.691.155 85,0% 22,1% 7.891.845 84,5% 7.069.417 85,6% 11,6%<br />
Min. Int. in Subs. 9.234 0,1% 6.773 0,1% 36,3% 9.627 0,1% 6.900 0,1% 39,5%<br />
EQUITY 1.539.229 15,8% 1.174.146 14,9% 31,1% 1.433.113 15,4% 1.185.688 14,4% 20,9%<br />
TOTAL LIAB. & EQUITY 9.720.962 100,0% 7.872.074 100,0% 23,5% 9.334.585 100,0% 8.262.004 100,0% 13,0%
CASH FLOW<br />
(in million IDR)<br />
Cash Flow From Operating Activities<br />
Total Cash Receipts<br />
Total Cash Payments<br />
Total<br />
Cash Flow From Investment Activities<br />
Cash Flow From Financing Activities<br />
Net Financing<br />
Dividend Payment<br />
Total<br />
Net Increase of Cash and Cash Equivalents<br />
Cash And Cash Equivalents At Beginning Of Period<br />
Cash And Cash Equivalents At End Of Period<br />
1Q14<br />
1Q13<br />
1.535.467<br />
1.528.580<br />
(2.460.237)<br />
(2.041.808)<br />
(924.769) (513.228)<br />
(124.785) 5.332<br />
(111.627) 672.625<br />
0 0<br />
(111.627) 672.625<br />
(1.161.181) 164.730<br />
1.939.960 948.846<br />
778.779 1.113.576
FINANCIAL RATIO<br />
RATIO<br />
DER ( x ) < 2,75<br />
EBITDA / Interest ( TIE ) > 2,50<br />
Current Ratio > 1,00<br />
ROE (Return On Equity)<br />
ROI (Return On Investment)<br />
Cash Ratio<br />
Collection Period (Receivables)<br />
Inventory Turnover<br />
TATO (Total Asset Turnover)<br />
Equity Ratio<br />
ROA (Return On Assets)<br />
Collection Periods (Tot.Receivables)<br />
Payment Periods<br />
2013 2012 1Q14 1Q13<br />
1,2 7,3 1,3 34,8 8,5 29,6 56,0 27,0 101,4 11,9 7,3 175,0 0,8<br />
6,0<br />
1,2<br />
21,7<br />
6,5<br />
16,2<br />
64,0<br />
25,0<br />
96,9<br />
12,3<br />
5,4<br />
218,0 1,1 2,8 1,4 1,1 1,0 12,3 58,2 43,3 105,8 15,3 0,7 178,7 1,4<br />
4,8<br />
1,4<br />
0,2<br />
0,7<br />
20,6<br />
50,3<br />
24,1<br />
102,6<br />
14,4<br />
0,6<br />
197,8<br />
167,0 225,0 177,5 186,5
CONTRACT BREAKDOWN 2013<br />
90.2%<br />
Line of<br />
Business<br />
Million IDR<br />
% Contribution<br />
CONSTRUCTION 9.789.278 90.2%<br />
EPC 13.541 0.1%<br />
PROPERTY 716.395 6.6%<br />
REAL ESTATE 232.653 2.1%<br />
0.9%<br />
2.1%<br />
6.6%<br />
0.1%<br />
PRECAST 101.871 0.9%<br />
TOTAL 10.853.737 100.0%<br />
CONSTRUCTION EPC PROPERTY REAL ESTATE PRECAST
REVENUE BREAKDOWN 2013<br />
73.1%<br />
Line of<br />
Business<br />
Million IDR<br />
% Contribution<br />
CONSTRUCTION 7.167.558 73,1%<br />
EPC 1.891.112 19,3%<br />
PROPERTY 507.795 5,2%<br />
19.3%<br />
REALT ESTATE 197.688 2,0%<br />
PRECAST 35.445 0,4%<br />
0.4%<br />
2.0%<br />
5.2%<br />
TOTAL 9.799.598 100,0%<br />
CONSTRUCTION EPC PROPERTY REAL ESTATE PRECAST
REVENUE & NET INCOME<br />
2008-2013<br />
in million IDR<br />
16,000,000<br />
14,000,000<br />
Revenue<br />
Net Income<br />
CAGR Net Income<br />
2008-2013<br />
38%<br />
14,717,873<br />
1,000,000<br />
900,000<br />
12,000,000<br />
10,000,000<br />
8,000,000<br />
6,000,000<br />
4,000,000<br />
2,000,000<br />
0<br />
9,799,598<br />
7,714,614<br />
7,627,703<br />
6,639,942<br />
6,695,112<br />
570,600<br />
5,674,980<br />
405,977<br />
165,529<br />
189,484 182,116<br />
211,590<br />
81,482<br />
2008 2009 2010 2011 2012 2013 2014RKAP<br />
800,000<br />
700,000<br />
600,000<br />
500,000<br />
400,000<br />
300,000<br />
200,000<br />
100,000<br />
0
ORDER BOOK<br />
Total Order<br />
Book Target<br />
29,874<br />
Total Order<br />
Book<br />
20,071<br />
New<br />
Contract<br />
21,129<br />
Carry Over<br />
to 2015<br />
14,271<br />
New<br />
Contract<br />
10,854<br />
Carry Over<br />
to 2014<br />
8,745<br />
JO : 885<br />
Carry Over<br />
From 2012<br />
9,217<br />
JO: 1,527<br />
Revenue<br />
NJO<br />
9,799<br />
Carry Over<br />
From 2013<br />
8,745<br />
Revenue<br />
NJO<br />
14,718<br />
2013<br />
2014R
CONTRACT BY TYPE OF BUSINESS<br />
2011<br />
2012<br />
18%<br />
27%<br />
26%<br />
36%<br />
APBN<br />
APBD<br />
BUMN/D<br />
Private/Others<br />
7%<br />
48%<br />
33%<br />
5%<br />
2010<br />
2013<br />
2014 RKAP<br />
23%<br />
34%<br />
21%<br />
21%<br />
21%<br />
48%<br />
9%<br />
10%<br />
29%<br />
14%<br />
22%<br />
48%
CONTRACT BY LINE OF BUSINESS<br />
Construction EPC Property Realty Investment<br />
2012<br />
3% 1%<br />
3%<br />
1%<br />
2013<br />
7% 2% 2%<br />
0%<br />
92%<br />
89%<br />
2% 2%<br />
0%<br />
32%<br />
24%<br />
Total Contract Target:<br />
21.1 Trillion IDR<br />
2011<br />
64%<br />
4%<br />
6%<br />
12%<br />
2014 RKAP<br />
54%
PROPERTY BUSINESS<br />
Grand Taman Melati<br />
Margonda<br />
Grand Dhika City Bekasi<br />
Taman<br />
Melati<br />
Jatinangor<br />
Grand DhikaSunset Kuta -<br />
Bali<br />
The Jasmine Park<br />
Pasteur, Bandung<br />
Grand Dhika Mansion<br />
Pejaten
PROPERTY BUSINESS<br />
Taman Melati Sardjito<br />
Yogyakarta<br />
Taman Melati Sinduadi<br />
Yogyakarta<br />
Taman Melati Dinoyo<br />
Malang<br />
Taman Melati Mulyorejo<br />
Grand Dhika Jatiwarna
REAL ESTATE BUSINESS<br />
Mall Cimone City<br />
Mall Mandau City<br />
Taman Dhika Sidoarjo<br />
Taman Dhika Cipayung
PRECAST BUSINESS<br />
Factory 1: Sadang<br />
Factory 2: Mojokerto
PT Adhi Karya (Persero) Tbk.<br />
THANK YOU<br />
Visit us at www.adhi.co.id<br />
For further information please contact:<br />
M. Aprindy, Corporate Secretary<br />
Ki Syahgolang Permata, Investor Relations<br />
P. +62 21 797 5312 F. +62 21 797 5311 E. adhi@adhi.co.id<br />
Disclaimer:<br />
Important Notice<br />
• This document was prepared solely and exclusively for the parties presently being invited for the purpose of discussion. Neither this document nor<br />
any of its content may be reproduced, disclosed or used without the prior written consent of PT Adhi Karya (Persero) Tbk.<br />
• This document may contain statements that convey future oriented expectations which represent the Company’s present views on the probable<br />
future events and financial plans. Such views are presented on the basis of current assumptions, are exposed to various risks and are subject to<br />
considerable changes at any time. Presented assumptions are presumed correct, and based on the data available on the date, which this<br />
document is assembled. The company warrants no assurance that such outlook will, in part of as a whole, eventually be materialized. Actual<br />
results may diverge significantly from those projected. The information in this document is subject to change without notice, its accuracy is not<br />
verified or guaranteed, it may be incomplete or condensed and it may not contain all material information concerning the Company.<br />
• None of the Company, PT Adhi Karya (Persero) Tbk. or any person connected with any of them accepts any liability whatsoever for any loss<br />
howsoever arising from any use of this document or its contents or otherwise arising in connection therewith.