PT. ABM INVESTAMA TBK · PT Energi Alamraya Semesta (EAS). PT Pradipa Aryasatya, a Sewatama subsidiary served as a PT Pradipa Aryasatya, a Sewatama subsidiary served as a vehicle

PT. ABM INVESTAMA TBK

Q1 Result – Company Presentation

Jakarta, May 2013

Overview of Tiara Marga Trakindo Group

— Established in 1970, Trakindo was

founded by AHK Hamami

— Trakindo became the sole authorized

dealer for Caterpillar in 1971 and now

has more than 70 branches

— Over a 40 year period, Trakindo has

developed into one of the largest

national groups in Indonesia

Shareholder Value Addition

— Access to financial resources to

support growth plans

— Timely market intelligence and access

— TMT refers customers and is itself and

important customer to ABM

ABM Investama A Member of Tiara Marga Trakindo Group

Tiara Marga Trakindo Group Structure

PT Tiara Marga Trakindo Group (TMT)

PT. Chitra

Paratama

PT Tri Swardana

Utama

Others

PT Chakra Jawara

PT Mahadana

Dasha Utama

PT ABM

Investama

Tbk

PT Trakindo

Utama

PT Chandra

Sakti Utama

Leasing

2

PT. HD Finance

Tbk

ABM’s Five Strategic Business Units

Engineering

Services

Integrated

Logistics

Power

Solutions

Contract

Mining

Services

Coal

Production

• Established 2010

• 7,703 hectares

concession area

under 4 IUPs

• Estimated coal

reserves and

resources of 221 and

561 million tons,

respectively

• Employees: 361


• Fleet of 602 heavy

equipment serving 9

customers as of Mar

31, 2013

• Backlog Overburden

660 million bcm and

36 million tons, as of

Mar , 2013

• Employees: 3,324


• Approximately 833

gensets (1010 MW

capacity) by Mar 31,

2013

• Manages more than

90 diesel power

generation projects in

Indonesia



• Operates fleet of

vessels, trucks,

loaders and dry

containers

• Provides coal logistics,

freight forwarding and

project logistics

• 35 branches and

offices located

throughout Indonesia

• Employees: 713


• 10 engineering

services workshops

providing fabrication,

remanufacturing,

transport equipment

and site services

• Customers mainly in

mining, oil and gas,

petrochemical and

power sectors


3

4

ABM Group and Shareholding Structure

Coal production;

Sub-Holding for

BEL and Mifa

PT Cipta

Kridatama (“CK”)

Contract Mining

99.99%

PT Sumberdaya

Sewatama (“SS”)

Power solutions

99.98%

PT Cipta Krida Bahari

(“CKB”)

Integrated logistics

99.99%

PT Sanggar Sarana

Baja (“SSB”)

Engineering services

99.96%

Sub-Holding for

thermal energy IPP

PT Pradipa

Aryasatya (“PAS”)

99.9%

Sub-Holding for

renewable energy

IPP

PT Nagata Bisma

Shakti (“NBS”)

99.9%20%

Coal logistics

PT Baruna Dirga

Dharma (“BDD”)

99.9%

Shipping

PT Alfa Trans

Raya (“ATR”)

99.99%

Valle Verde Pte. Ltd. PublicPT Tiara Marga Trakindo (“TMT”)

23.12% 55% 21.88%

99.98%

IPP

PT Metaepsi Pejebe Power

Generation (“Meppogen”)

General trading

PT Prima Wiguna

Parama (“PWP”)

PT Reswara Minergi Hartama

(“Reswara”)

Coal production

PT Bara Energi

Lestari (“BEL”)

Coal production

PT Mifa Bersaudara

(“Mifa”)

Coal production

99.99%

70.0%99.99%99.99%

99.99% 99.99%

Coal

production

PT Tunas Inti

Abadi (“TIA”)

Port operator &

management

PT Pelabuhan Buana

Reja (“PBR”)

PT Media Djaya

Bersama (“MDB”)

PT Enegi Alam

Semesta (“EAS”)

Thermal energy IPP

PT Nagata Dinamika

Renewable energy

IPP

51% 70%

CK: Contract Mining Project Sites

CKB: Integrated LogisticsOffices

SSB: Engineering Services Main Operating Sites

BATAM

PADANG

PEKANBARU

DURI

MEDAN

JAMBI

PALEMBANG

PONTIANAK

PANGKALANBUN

BANJARMASIN

SATUI

BATULICIN

MAKASSAR

SOROAKO

TARAKAN

AMBON

SORONG

BATU HIJAU

MATARAM

DENPASAR

LAMONGAN

SURABAYA

JAKARTA

MANADO

TANJUNG ADARO

SANGATTA

BATUKAJANG

TIMIKA

BANDA ACEH

BALIKPAPAN

SAMARINDA

TERNATE

TANGERANG

GRASBERG

KUALA KENCANA

BONTANG

AIR MUNING MUKO-MUKO

MANGKAL API

SUNGAIDANAU

SUNGKAI

KOTA BANGUNJONGGON

KUTAIKERTANEGARA

SANGA-SANGA

— Able to operate throughout the country; competitive advantage over competitors

— Difficult to replicate coverage strength and poses barriers to entry for new entrants

BENGALON

Comprehensive Footprint and Market Coverage in Indonesia

5

SS: Power Solutions Services

ABMM Business Update and Overview

• August 29, 2012 Sewatama announced 70% acquisition of independent power plant company

PT Energi Alamraya Semesta (EAS). PT Pradipa Aryasatya, a Sewatama subsidiary served as a

vehicle for the acquisition worth of US$7 million.

• November 22, 2012 – PT Tunas Inti Abadi (TIA) secured an additional 3 million metric tons under

its coal sales contract with AVRA Commodities for the next five years; effectively upping the total

deal to 18 million metric.

• December 18, 2012 –PT Cipta Kridatama (Cipta Kridatama) secured a US$ 396 million contract

for mining services with PT Tunas Muda Jaya (TMJ) for the next five years

• January 28, 2013 PT Media Djaya Bersama (MDB), has secured coal sales with PT Lafarge

Cement Indonesia (Lafarge), amounting maximum of 255,000 metric tons in year 2013

• March 14, 2013 – PT Reswara Minergi Hartama receives loan as much as US$150 million from

Qatar National Bank (QNB), PT Bank QNB Kesawan Tbk (QNBK) and Indonesian Export Financing

Institution (Indonesia Eximbank).

• Mar 18, 2013, PT Cipta Kridatama (CK), sign a five-year contract worth of US$ 225 million with

PT Realita Jaya Mandiri (RJM). The coal mining contract in Musi Banyuasin, South Sumatera

6

Q1 2013

ABM’s Five SBU

Operational & Financial Performance

7

8

Coal Production at TIA, South Kalimantan

9

Barge Conveyer at TIA

10

451.6

392

506.4

Jan-13 Feb-13 Mar-13

TIA Coal Sales ( 000 tons coal)

363.5358

411.5


TIA Coal Production (000 ton coal)

Q1 2013 TIA coal Sales : 1.350,000 ton coal Q1 2013 TIA Coal Production : 1.133.000 ton coal

TIA: Coal Sales and Production

7|414

21|507

7|919


MIFA Prod (ton coal )

11

11|572

5|797

9|455


BEL Prod (ton coal)

Q1 2013 MIFA coal Prod: 36,840 ton coal Q1 2013 BEL Coal Prod : 26,824 ton coal

MDB: MIFA and BEL Production (Aceh)

3.4

3

3.3

4.5 4.5 4.5

0

0.5

1

1.5

2

2.5

3

3.5

4

4.5

5


TIA SR

SR (Act) SR (Std)

12

37.537.8 37.6

32.2 3232.5


TIA ASP & Cash Cost

TIA ASP TIA Cash Cost

TIA: OB and SR

13

827

1|413

Q1 2012 Q1 2013

Reswara Sales (mn tons coal)

70.8%17.47

15.49

19.77


Revenue (mn USD)

Reswara Revenue Q1 2013 : USD 52.7 mn

TIA: ASP and Cash Cost

14

TIA: Sales Distribution 2012-2013

20.00 $

25.00 $

30.00 $

35.00 $

40.00 $

45.00 $

50.00 $

55.00 $

60.00 $

65.00 $

70.00 $

75.00 $

80.00 $

85.00 $

90.00 $

95.00 $

100.00 $

105.00 $

110.00 $

115.00 $

120.00 $

125.00 $

130.00 $

135.00 $

140.00 $

12

-20

09

01

-20

10

02

-20

10

03

-20

10

04

-20

10

05

-20

10

06

-20

10

07

-20

10

08

-20

10

09

-20

10

10

-20

10

11

-20

10

12

-20

10

12

-20

10

01

-20

11

02

-20

11

03

-20

11

04

-20

11

05

-20

11

06

-20

11

07

-20

11

08

-20

11

09

-20

11

10

-20

11

11

-20

11

12

-20

11

12

-20

11

01

-20

12

02

-20

12

03

-20

12

04

-20

12

05

-20

12

06

-20

12

07

-20

12

08

-20

12

09

-20

12

10

-20

12

11

-20

12

11

-20

12

12

-20

12

2011 2012

NEW

C

ICI4200

insert last 1 year

TIA

ICI 3400

BEL

MIFA

15

Coal Price: Index vs Reswara

695

1|179

2|163

4|665

6|000

-

1|000

2|000

3|000

4|000

5|000

6|000

7|000

FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 ( e)

Reswara Sales

16

Reswara: Historical Sales and Plan 2013

48.75

37.6

Q1 2012 Q1 2013

ASP

17

40.89

32.5

Q1 2012 Q1 2013

Cash Cost

25.8%

4.5

3.3

Q1 2012 Q1 2013

Stripping Ratio (SR)

22.82%

26.6%

TIA: ASP – Cash Cost - SR

MDB Project by Mar 2013:

1. Land Acquisition 72%

2. Port Construction 61%

3. Mining site 49%

18

Completion

Target

Q4 2013

MDB Project Update

19

TIA MDB Total

Coal Reserves

(MT)

Proved Reserves 13 7 20

Probable

Reserves

39 162 201

Total Reserves 52 169 221

Coal Resources

Measured 32 18 50

Indicated 39 289 328

Inferred 35 148 183

Total 106 455 561

Concession (Ha) 3,074 4,629 7,703

Total Resources: 561 Million Tons

Total Reserves: 221 Million Tons

* Based on Joint Ore Report Committee JORC Report

ABM Coal Reserve, Resources and Concession

20

Balikpapan

South Kalimantan

Central Kalimantan

Palangkaraya

Banjarmasin

Indonesia

Kalimantan

Tunas Inti Abadi Project Area

Balikpapan

South Kalimantan

Central Kalimantan

Palangkaraya

Banjarmasin

Indonesia

Kalimantan

Tunas Inti Abadi Project Area

TIA Site (South Kalimantan Province )PT Tunas Inti Abadi

• TIA was acquired in Dec 2007,

commenced commercial production in

Aug 2009 and coal sales in Oct 2009

• Coal mining is contracted to ABM

subsidiary, CK

• 25 km from pit to port at Bunati

• 9-12 km from port to anchorage

point at Bunati

• 8,000 ton barge loading capacity at

jetty

• 120,000 tons temporary pile facility

at the mining pit

• Logistic advantages: Close to the

Ocean

TIA: Demographic and Layout

21

PT Media Djaya Bersama

• 70% ownership in MDB

• To begin coal production in 2012

by using existing infrastructure

and begin construction of own

infrastructure in 2012

• Intends to sell coal to Indian

power plants for blending

• Logistic advantages: Close to the

Ocean – 12.3 km pit to port

• Plan to build land conveyer belt

for logistic

MDB Site (Aceh Province)

MDB: Demographic and Layout

22

TIA MDB

Calorific Value (Adb) 55-53k kcal/kg 53-51k kcal/kg

Caloric Value (GAR) 3,960 kcal/kg 3,440 kcal/kg

Total Moisture (AR) 37.4% 43.8%

Ash Content (Adb) 5.7% 4.6%

Sulfur (Adb) 0.15% 0.16%

Coal Characteristics

Entity

Concession

Holding Company

Type of

Concession Location

Current

Concession Area

(ha)

Expiry Date

of Current

Phase

TIA TIA IUP(1) South Kalimantan 2,355 Mar 16, 2021

TIA TIA IUP(1) South Kalimantan 719Mar 5,

2021

BEL BEL IUP(1) Aceh 1,495 Sep 26, 2017

Mifa Mifa IUP(1) Aceh 3,134 Apr 13, 2025

Concession Breakdown

Reswara: Coal Char and Concession

23

CK, The Contractor Mining

8|729

7|544 7|232


OB Removal (mn bcm)

24

OB Removal Q1 2013 : 23.5 mn bcm

28.1

23.5

Q1 2012 Q1 2013

OB Removal (mn bcm)

16.3%

OB Removal Q1 2013 vs Q1 2012

25

1|174

955

1|273


Rental Services (mn ton coal)

Rental Services Q1 2013 : 3.3 mn coal

2.46

3.3

Q1 2012 Q1 2013

Rental Service (mn ton coal)

34.1

Rental Service

32.44

26.89

37.08


Revenue (mn USD)

26

CK Revenue Q1 2013 : USD 96.4 mn

CK Q1 2013 Revenue

27

Client FY 2012 FY 2011 ∆

Old Client

A 29.7 25.5B 1.6 13.6C 7.3 14.8D 10.6 23.66

E 27.3 25.3F 17.3 14.2G 11.4 1

105.2 118.06 -12.86New Client

H 16.8 0I 7.7 0

J 1.3 025.8 0

Total (mn bcm) 131 118.06 25.8

Existing 2011 vs 2012 Client of CK

73.8

104.2 100.0

118.0

130.0

140.0

30.0

50.0

70.0

90.0

110.0

130.0

150.0

FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 ( e)

OB Removal (mn bcm)

28

OB Removal Historical and Plan 2013

5.4

7.1

8.3

10.6

11.9

16.0

-

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

18.0

FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 ( e)

Rental Service ( mn ton coal)

29

Rental Service Historical and Plan 2013

30

Operating Agreements as of Mar 31, 2013

12

3

4

6

7

Kalimantan

Sumatra

Client Mining Project SitesExpected

Contract Duration

Backlog

(bcm/ton)

Separi, East KalimantanJun 2004 – Sep

2015.72.5 / 7.5

Jongon East Kalimantan Nov, 2007 – Oct

201569.2 / 5

Sebambam, Tanah Bumbu,

South Kalimantan

April, 2009 – Jul

2020125 / 21

Batulicin,

South Kalimantan2003- life mine. 12/ 2

Ketaun Village,Bengkulu Mar 11- Mar 2017ti 84 / -

Siambul, RiauFeb 2012-Feb

201292 / -

Loan Janan, East

KalimantanJun 2012-Jun 2017 69/-

Batu Sopag East

Kalimantan

Nov 2012-Nov

2017135

Total 660 / 36.2

1

2

3

4

5

6

7

5

8

8

Current Customers and Backlog

31

Type of equipment

Mar 31, 2013Capacity Number of units Average age (in years)

Excavator 250 - 350 tons 15 5.07

20 - 100 tons 104 2.03

Truck 30 - 100 tons 334 3.1

Dozer 85 1.74

Grader 14 - 16 feet 46 2.27

Wheel loader 5 2.1

Compactor 12 2.16

Drill machine 1 2.7

Total 602

Heavy Equipment and Machinery

PT Sumber Daya Sewatama (SS) – Power Solutions

32

1|010 1|010 1|010


Capacity Installed

103|887

96|104

103|363


kWh Generated

33

Capacity Installed Q1 2013 : 1,010 MW kWh generated Q1 2013 : 303,354 kWh

Capacity Installed and KWh Generated

271.1

272.3

275.3


Lease Rate Rp/kwh

ASP Rp/kwh

34

944

1|010

Q1 2012 Q1 2013

Capacity Installed

6.9%

Capacity Installed and Lease Rate

269273

147

167

187

207

227

247

267

287

Q1 2012 Q1 2013

Lease Rate (Rp/Kwh)

1.5%

35

11.63 11.33

11.90


Revenue (mn USD)

SS Revenue Q1 2013 : USD 34.87 mn

Lease Rate and Revenue

638

758 792

934

1|010 1|010

1|250

72%

70%74%

74%73% 73%

-

200

400

600

800

1|000

1|200

1|400

FY 2008 FY 2009 FY 2012 FY 2011 FY 2012 Q1 2013 FY 2013 (e )

Capacity Installed (MW)

36

Capacity Historical and Plan Installed and Utilization Rate

Model

Number of Units

as of Mar 31,

2013

Capacity

(kW)

Average

Useful Life

(Yrs)

Average Age as of

Mar 31, 201

(Yrs)

Diesel

Generator Sets828 1,001,054 10 6

Gas Generator

Sets5 9,000 15 2

Total 833 1,010,054

Diesel Genset is the Majority of Generators

37

Business Overview

Transport

Equipment

Division

Designing, manufacturing and distributing products for

transportation and material handling business

Site Services

Division

On-site repair, process plant maintenance and construction

services

Fabrication

Division

Design and manufacture of process equipment, general

fabrication, site construction and installation solutions

Re-Manufacturing

Division

Salvaging, remanufacturing and manufacturing of heavy

equipment core components

PT. Sanggar Sarana Baja (SSB) – Engineering Services

38

Site Service work at SSB Client

39

8.15

6.78

13.21


Revenue (mn USD)

SSB Revenue Q1 2013 : USD 28.1mn

40

Fabrication Division

41

Business Overview

• Integrated logistics provider offering freight forwarding, project logistics,

industrial / offshore and coal logistics shipping, warehouse and shorebase

management services

• Freight forwarding services: Integrated logistics services via owner and third

party operated freight services

• Project logistics: Transportation of over weight and over size cargo (heavy

equipment, machines and engines)

• Energy related logistics: Industrial, offshore and coal logistics shipping and

warehouse and shorebase management services

• PT Baruna Dirga Dharma (BDD) is our coal logistic.

• Provides through CKB and a third-party sub-contractor, barging services to TIA

as a part of its coal logistics chain

—ISO 9001: 2008 and OHSAS 18001: 2007

PT. Cipta Krida Bahari (CKB) – Integrated Logistic

42

Project Logistic of Overweight and over Size Cargo

43

CKB Revenue

9.90

10.23

10.77


Revenue (mn USD)

CK BRevenue Q1 2013 : USD 30.9 mn

To anticipate the uncertainty Energy and Coal industry, our strategy is to maintain

our growth and profitability, at the same time be cautious. We will focus on

improving efficiency to reduce costs to keep its balance sheet healthy.

Capex plan is mainly to complete MDB Project, Aceh, couple with SS in increasing

temporary power capacity to 1,250MW. At CK will be very minimum capex, we will

utilize the available heavy equipment for 3 new projects in 2013 (1 signed end

2012)

Coal Production

• TIA producing at maximum capacity 5mn ton annually till life of mine.

• MDB is expected to complete in Oct 2013 MDB with target in 2014 and 2015 to

produce 7 mn and 10 mn ton coal respectively.

• In total Reswara production in 2014 and 2015 is 12 mn tons and 15 mn .

At SS will expand its portfolio to IPP (Independent Power Plant) to maintain

sustainable revenue stream in 10 years ahead. This year Temporary power is

expecting still growth at the level of 10%.

ABMM 2013 Strategy & Mitigation

44

Q1- 2013

Financial Highlights and Review

45

ABM Consol Q1 - 2013 Q1 - 2012 ∆

Sales 213,244 200,174 7%

COGS (174,762) (158,921) 10%

Gross Profit 38,482 41,253 -7%

Gross Profit Margin 18% 21%

Operating Expenses (31,310) (27,165) 15%

Other operating 18,351 (822) -2331%

Income from Operations 25,523 13,266 92%

Equity in net income of associated company 661 - 100%

Finance expenses - net (10,381) (6,086) 71%

EBT 15,803 7,180 120%

EBITDA 62,559 41,208 52%

Tax (400) (2,314) -83%

EAT 15,403 4,866 217%

EAT Margin 7% 2%

Income Attributable to parent 15,780 5,053 212%

Q1 2013 Income Statement

46

Q1 Balance Sheet

47

ABM Consol 31 Mar 2013 31 Dec 2012

Current Asset 501,915 461,744

Non Current Assets 798,204 801,654

Total Assets 1,300,119 1,263,398

Current Liabilities 381,556 376,625

Non Current Liabilities 558,057 540,713

Equity 360,506 346,060

Total Liabilities and Equity

1,300,119 1,263,398

48

Capex USD (‘000) Allocation in %

ABM 4 0.01%

CK 808 2.93%

SS 14,575 52.92%

SSB 260 0.94%

CKB 889 3.23%

Reswara 11,011 39.97%

Total 27,547 100.00%

Q1 2013 Capex

CK42%

SS14%

SSB13%

CKB13%

Reswara18%

Q1 - 2012

CK40%

SS14%

SSB11%

CKB13%

Reswara22%

Q1 - 2013

Contribution from Subsidiaries - Revenue

49

CK20%

SS34%

SSB14%

CKB16%

Reswara16%

Q1 - 2012

CK9%

SS30%

SSB15%

CKB16%

Reswara30%

Q1 - 2013

Contribution from Subsidiaries - Gross Profit

50

CK26%

SS52%

SSB1%

CKB16%

Reswara-5%

Q1 - 2012

CK5%

SS29%

SSB57%

CKB8%

Reswara1%

Q1 - 2013

Contribution from Subsidiaries – Income From Operations

51

CK10%

SS51%

SSB-8%

CKB19%

Reswara-12%

Q1 - 2012

CK-8%

SS15%

SSB64%

CKB5%

Reswara-10%

Q1 - 2013

Contribution from Subsidiaries- Net Income

52

53

520

754

887

0

100

200

300

400

500

600

700

800

900

1000

FY 2010 FY 2011 FY 2012

Revenue (mn USD)

Historical Revenue

54

79

159172

15%

21% 19%

0%

5%

10%

15%

20%

25%

0

20

40

60

80

100

120

140

160

180

200

FY 2010 FY 2011 FY 2012

Gross P GP Margin

Historical Gross Profit

23

56

14

3.4%

7.4%

1.6%

0%

1%

2%

3%

4%

5%

6%

7%

8%

0

10

20

30

40

50

60

FY 2010 FY 2011 FY 2012

Net Income Margin

Historical Net Income

55

ContactInvestor RelationsErrinto PardedeTel:6221-2997-6767 Ext.1874Fax : 6221-2997-6768Email : [email protected] : [email protected] : www.abm-investama.com

A member of Tiara Marga Trakindo Group

Gedung TMT 1, 18th Fl, Suite 1802Jl Cilandak KKO No.1 Jakarta 12560 - Indonesia

56

mailto:[email protected]

mailto:[email protected]

http://www.abm-investama.com/

PT. ABM INVESTAMA TBK · PT Energi Alamraya Semesta (EAS). PT Pradipa Aryasatya, a Sewatama subsidiary served as a PT Pradipa Aryasatya, a Sewatama subsidiary served as a vehicle

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