Analyst Gathering – 2013 Jakarta, 6 November 2013
Analyst Gathering – 2013Jakarta, 6 November 2013
11% 37%58%
69%
45%38%
54%55%
61%
67%
54%56%
43%
15% 13%
13%
16%
27%
33%
24%
22%
19%
17%
24%
24%
25%
58%
21%
12%
7%
15%
16%
14%
15%
11%
10%
14%
14%
24%
16%
29%
18%
8%13%
12%
9%
9%
9%
6%
6%
6%
8%
1996 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 9M 12 9M 13
Mining Agro Construction Forestry
Komatsu Sales (in unit) & Market Share
Source : Internal Market Research
Mining
Agro
Const.
Forestry
2,012
Market Share %
916
1,619
2,406 2,250
3,454
4,345
3,111
8,467
6,202
Construction Machinery
5,404 5,455
3,303
(In unit)
4,908 2,247 3,964 4,993 4,687 7,038 9,684 6,644 11,781 17,360 14,421 12,400 8,050
Total Indonesian Market for Heavy Equipment - Units
30%33% 32% 27%
23% 25% 20% 18% 17% 26%31% 38%
42%
22%
29% 26%
25%
22% 15% 17% 22% 32% 31% 25%
24%
27%
9%
8% 2%
9%7% 10% 6%
8%8% 11%
8%
7%
39%
30%40%
48%
46% 53%53% 54%
43%
35% 33%
30%
24%
0
100
200
300
400
500
600
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Agro Construction Forestry Mining
Komatsu,
41%
Caterpillar,
18%
Hitachi,
22%
Kobelco,
17%
Others, 2%
Construction Machinery
Source : Internal Market Research
Komatsu Monthly Sales Volume
(in unit)
Mining
Agro
Construction
Forestry
Market Position as of 30 September 2013
209
420
289
409
249
451
412
453
401
326 318
211
322
4
Mining Contracting
Pamapersada Nusantara
58.9 68.0 77.986.8 94.4 68.7 78.3
441.9
597.9651.5
796.4
855.5
634.3 639.4
7.5
8.88.4
9.29.1
9.2
8.2
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
10.0
0
100
200
300
400
500
600
700
800
900
1000
2008 2009 2010 2011 2012 9M 12 9M 13
Coal Production (in milion tons) Overburden Removal (in million bcm) Strip Ratio
Coal by Customer 2010 2011 2012
Adaro 16.1 17.0 17.2
Indominco 10.2 12.3 13.9
KPC 10.4 11.9 12.7
Kideco 10.9 11.2 12.6
Jembayan 9.6 8.1 6.9
Trubaindo 4.1 5.3 4.8
Bukit Asam 4.7 4.9 6.4
Others 11.9 16.1 19.9
Total 77.9 86.8 94.4
OB by Customer 2010 2011 2012
Adaro 90.9 124.1 131.0
Indominco 139.3 159.9 188.4
KPC 96.8 113.4 117.2
Kideco 80.1 95.4 100.7
Jembayan 87.2 83.9 95.0
Trubaindo 50.0 64.3 58.0
Bukit Asam 21.5 25.1 26.8
Others 85.5 130.3 138.4
Total 651.5 796.4 855.5
2012 9M 12 9M 13
2,725 2,2441,006
2,8482,296
1,878
TTA's coal sales volume (in thousand tons)
PMM's coal sales volume (in thousand tons)
Coal Mining
4,540
In 9M 2013, from PT Prima Multi Mineral and PT Tuah Turangga Agung recorded total coal sales volume of 2.88 million tons, or down 36%.
5
5,573
2,884
PMM TTA
Parameter Typical Specification Typical Specification
Ash 13% 10.5%
Sulphur 0.90% 0.47%
Calorific Value 6,700 kcal/kg 6,300 kcal/kg
Total Moisture 13% 13.7%
Inherent Moisture 5.0% 7.4%
Hardgrove Grindability
Index 40 48
185204
219
78
220
169146
123110
50
15
60
113
192168
192 192214
242218 215
309
261
168
99
152
0
100
200
300
400
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
PMM (in thousand tons) TTA (in thousand tons)
Financial Highlights
In Rp billion 2009 2010 2011 2012 9M 2012 9M 2013
Exchange rate (Rp/US$) 9,400 8,991 9,068 9,670 9,588 11,613
Revenue 29,242 37,324 55,053 55,954 44,137 37,305
Gross Profit 6,671 6,796 10,194 10,520 8,218 6,791 Gross Profit Margin 22.8% 18.2% 18.5% 18.8% 18.6% 18.2%
Operating Profit 5,266 5,162 7,615 7,566 5,923 4,702 Operating Profit Margin 18.0% 13.8% 13.8% 13.5% 13.4% 12.6%
Net Income 3,818 3,873 5,901 5,780 4,469 3,379
Earning per Share (Rp) 1,147 1,164 1,657 1,549 1,198 906
Cash 2,769 1,343 7,135 3,995 3,798 7,593
Total Assets 24,405 29,701 46,440 50,301 50,301 56,619
Total Liabilities 10,454 13,536 18,936 18,000 19,974 22,769
Net DER 0.07 0.27 -0.09 0.06 0.09 -0.10
2009 2010 2011 2012 9M 2012 9M 2013
10,98117,275
27,20022,158 18,991
12,198
15,418
16,929
22,41827,994
20,128
22,603
2,843
3,121
5,434 5,802
5,018
2,504
Construction Machinery Mining Contracting Mining
Consolidated Revenue(In Rp billions)
29,242
37,324
55,053 55,954
44,137
37,305
Product Launches
Komatsu Excavator PC200-8
New GenerationJanuary 2013
UD Trucks – Quester
Agustus 2013
Disclaimer: This report has been prepared by PT United Tractors Tbk independently and is circulated for the purpose of general informationonly. It is not intended to specific person who may receive this report. The information in this report has been obtained from sources which wedeem reliable. No warranty (expressed or implied) is made to the accuracy or completeness of the information. All opinions and estimationsincluded in this report constitute our judgment as of this date and are subject to change without prior notice.We disclaim any responsibility or liability without prior notice of PT United Tractors Tbk and/or their respective employees and/or agentswhatsoever arising which may be brought against or suffered by any person as a result of acting in reliance upon the whole or any part of thecontents of this report and neither PT United Tractors Tbk and/or its affiliated companies and/or their respective employees and/or agentsaccepts liability for any errors, omissions, negligent or otherwise, in this report and any inaccuracy herein or omission here from which mightotherwise arise.
Thank You
United Tractors in Brief
Established in 13 October 1972
No. of employee : 27,875 people
(as of 30 September 2013)
Network :
19 branches, 22 site support,
11 rep. offices, and
14 mine offices
Main business :
Went Public in
19 September 1989
Public
59.5% 40.5%
Market Cap. : Rp 60.8 trillion (as of 30 September 2013)
Shareholder Composition:
3,730,135,136 shares as of 30 September 2013
Construction Machinery
Mining Contracting
Coal Mining
Appendix
Subsidiaries & Associated Companies
1 PT Bina Pertiwi 1976 Farm Tractors 100%
2 PT Komatsu Indonesia 1982 Komatsu Heavy Equipment Manufacturer 5%
3 PT United Tractors Pandu Engineering 1983 Component and Fabrication 100%
4 PT Pamapersada Nusantara 1988 Mining Contracting 100%
5 PT United Tractors Semen Gresik 1992 Limestone Quarry Contracting 45%
6 UT Heavy Industry (S) Pte Ltd 1994 Distribution Arm in Singapore 100%
7 PT Komatsu Remanufacturing Asia 1997 Engine and Component Recondition 49%
8 PT Multi Prima Universal 2008 Used Equipment and Rental 100%
9 PT Tuah Turangga Agung 2008 Coal Mining 100%
10 PT Harmoni Mitra Utama 2008 Logistics and Distribution 35%
11 PT Andalan Multi Kencana 2010 Commodity/ generic parts 100%
12 PT Universal Tekno Reksajaya 2011 Engine and Component Recondition 100%
Company Year Business Activities Ownership No
Appendix
Construction Machinery• The Construction Machinery business offers a full range of heavy equipment solution to
customers in a diverse range of industries, i.e. mining, plantations, construction, forestry,material handling, and transportation.
• It accounted for 40.0% of Total Consolidated Revenue in 2012.
• It has acted as the exclusive distributors of Komatsu in Indonesia since 1973.
• Has one of the largest distribution network in Indonesia comprised of 19 branch offices,22 site-support offices and 11 representative offices spread across Indonesia.
Appendix
• The Mining Contracting Business, operated through PT Pamapersada Nusantara (“Pama”), providing arange of world class mining services that extends from mine design, exploration, extracting, hauling,barging and loading.
• Established in 1988, nowadays Pama is the largest coal mining contractor in Indonesia in terms of netrevenue, capturing 41% of the market (based on internal market research).
• Pama has been working together with some of the largest and most respected coal operators inIndonesia as client such as Adaro, Indominco, Kideco, KPC, Jembayan and Bukit Asam.
Mining Contracting
Pama Mining Operations
COAL MININGCLIENT :
PT JEMBAYANMUARABARA
COAL MININGCLIENT :
PT TELEN ORBITPRIMA
COAL MININGCLIENT :
PT TRUBAINDOCOAL MINING &
PT BHARINTO EKATAMA
COAL MININGCLIENT :
PT KIDECO JAYAAGUNG
COAL MININGCLIENT :
PT INDOMINCOMANDIRI
COAL MININGCLIENT :
PT KALTIM PRIMACOAL
COAL MININGCLIENT :
PT ASMIN BARABRONANG /
PT ASMIN BARA JAAN
COAL MININGPT KALIMANTAN PRIMA PERSADA
(KPP)CLIENT :
1. PT. Bumi Rantau Energi (BRE)2. PT. Tanjung Alam Jaya (TAJ)3. PT. Batu Gunung Mulia (BGM)
LIMESTONE QUARRYCLIENT :
PT INDOKODECO
COAL MININGCLIENT :
PT ANUGRAH BARA KALTIM
COAL MININGCLIENT :
PT ADAROINDONESIA
COAL MININGCLIENT :
PT TAMBANGBATUBARA BUKIT
ASAM (PTBA)
COAL MININGCLIENT :
PT BAHARICAKRAWALA
SEBUKU
COAL MININGCLIENT :
PD. BARAMARTA
COAL MININGCLIENT :
PT ARUTMININDONESIA
Appendix
• The mining business is operated through the PMMMines and PT Tuah Turangga Agung (“TTA”).
• As of December 2012, total coal sales volume of 5.6million tones.
• Currently Company holding nine miningconcessions with estimated coal reserves totalling424 million tons, ranging from medium to high
quality coal.
Coal Mining
(In unit)No Concession
Percentage of
OwnershipLocation
Mineable
Reserves (in
million tons)
Quality
(Kcal/kg) adb
Production
Capacity per
Annum (in
million tons)
Production in
2011 (in million
tons)
Production in
2012 (in million
tons)
1 PMM Mines 100%/ PamaRantau, South
Kalimantan8 6,700 3.0 3.5 2.7
2Tuah Turangga Agung
(TTA) Mine100%
Kapuas, Central
Kalimantan32.8 6,300 2.5 1.0 2.8
3Agung Bara Prima (ABP)
Mine100%/ TTA
Kapuas, Central
Kalimantan9.2 6,300 0.5 - 1 0 0
4Bukit Enim Energi (BEE)
Mine20%/ Pama
Muara Enim,
South Sumatera200 4,500 - 6,000 5 0 0
5-6
Asmin Bara Bronang
(ABB) and Asmin Bara
Jaan (ABJ)
75.4%/ Pama
Kapuas and
Murung Raya,
Central
Kalimantan
84 5,800 – 7,100 7 0 0
7-8
Duta Sejahtera Mine
(DS) and Duta Nurcahya
(DN) mine
60%/ TTA
Barito Utara,
Central
Kalimantan
45 6,000 – 6,300 2 0 0
9 Piranti Jaya Utama 60%/TTAKapuas, Central
Kalimantan45 5,400 0 0
Combined Reserves 424 4.5 5.6
�
�PMM Mines
TTA Mines
Appendix