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PT GARUDA INDONESIAPT GARUDA INDONESIA (Persero) Tbk(Persero) Tbk..Analyst Meeting & PresentationAnalyst Meeting & PresentationAnalyst Meeting & Presentation Analyst Meeting & Presentation 2011 Result Announcement2011 Result Announcement
00
Jakarta, 21 March 2012
Shareholder List & Share Performance – as of 31 Dec 2011
Number of
Investor % Number of Shares %
DomesticGovernment of Indonesia 1 0.01% 15,653,128,000 69.14%
Angkasa Pura I 1 0.01% 248,496,000 1.10%
Angkasa Pura II 1 0.01% 403,634,000 1.78%
Retail 10,016 67.80% 1,618,083,000 7.15%
E l 4 514 30 56% 100 061 775 0 44%Employee 4,514 30.56% 100,061,775 0.44%
Total Domestic 14,775 99.17% 21,825,859,000 96.40%InternationalRetail 51 0.35% 5,535,000 0.02%
Instutional 72 0.49% 809,602,000 3.58%
Total International 123 0.83% 815,137,000 3.60%
TOTAL 14,898 100.00% 22,640,996,000 100.00%
1
C t tContents
1. Market & Company Overview
2. Summary Result 2011y
3. Outlook 2012
2
C t tContents
1. Market & Company Overview
2. Summary Result 2011y
3. Outlook 2012
3
Garuda Indonesia Group
Garuda Indonesia (Main brand)Ops Revenue Contribution 2011
Garuda Indonesia (Main brand)
8%9%
Domestic
International
S b 100 83%Sub-100 83%
Scheduled Airlines Non-scheduled Airlines Others
IT ServicesHospitality
and Tourism
Global Distribution
Systems Ground
Handling MRO
Services
Key Subsidiaries & Associated Companies
Cargo Citilink (LCC) Hajj / Charter
Aero S t
Aerowisata Abacus Gapura A k
GMF A A i
4
Systems AngkasaAeroAsia
Garuda Indonesia at a Glance
Shanghai
BeijingTokyoNagoyaSeoul
Amsterdam17.1 millionPassengers
IDR 27.1 trillionRevenue
Shanghai
Kuala Lumpur
OsakaGuangzhou
Hong KongBangkok
singaporeJakarta
DubaiJeddah
Makassar
18%Ops Revenue CAGR 2007 11
229k tonnesCargo Jakarta
Melbourne
Denpasar
PerthSydney
87 Aircraft
CAGR 2007-11
18%
g
6.5 yrs Fleet Age
18%EBITDAR Margin
Banda Aceh
Medan
PekanbaruBatam Pontianak
Padang Biak
ManadoTernate
Gorontalo
Balikpapan
Banjarmasin
Padang
Palembang
Jakarta
Denpasar
Semarang
Biak
SurabayaSolo
Yogyakarta
Palangkaraya
Ujung PandangTimika
Jayapura
Ambon
Mataram
Jambi
Tjg.Karang
Pgk.Pinang
Kendari
Palu
KupangMalang
Gorontalo
17International Destinations
31Domestic
Destinations
N t
5
KupangNote: Map not drawn to scaleFigures are as per Dec 2011
External Factors 2011
Macro Economic
• Unstable Financial Market, driven by EU economic crisis• Carbon emission issue• Asia Pacific as the largest air traffic market and aircraft backlog order for newer aircraft technology 9 200 00newer aircraft technology• IDR vs USD relatively strong
• Robust demand• Indonesia GDP/Capita consistenly growth
8,400.00
8,800.00
9,200.00
Jan 10 Des 11Jan 11
/ p y g• MP3EI Implementation 2012‐2025, concern on Airport & transportation Infrastructures• Competitor fleet renewal• Indonesian Aviation Law, new domestic airlines is restrained by limits, to
Domestic, y ,
improve safety and reliability• Operation disruption caused by natural disaster (Mt Lokon, Mt Gamalama, Mt Anak Krakatau, Mt Papandayan)
International
• High competitor capacity growth into Indonesia, especially LCC airlines• Strong Outbound and Inbound Traffic from/to Indonesia• Majority of FSC in Asia report declining in net profit• AMR Corp bankrupt
Competition on routes which GA flownGA Domestic traffic is growth by GA Domestic traffic is growth by 37.937.9% YoY% YoY GA GA International traffic is growth by 29.2 %International traffic is growth by 29.2 %
28 8% 29.3% 28 6%35.0%16,000,000
Dom Total GA Total Market Share
9 % 20 1% 21.0%22.2% 22.8% 22.7% 23.5%
25.0%4,000,000
Intl Total GA Total Market Share
21.9% 23.5%25.8% 24.5% 26.1%
28.8% 29.3% 28.6%
15.0%
20.0%
25.0%
30.0%
8,000,000
12,000,000 17.8%
19.7% 20.1% 21.0%
10.0%
15.0%
20.0%
2,000,000
3,000,000
0.0%
5.0%
10.0%
-
4,000,000
Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-110 Q4-11
0.0%
5.0%
0
1,000,000
Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-110 Q4-11
42 3
27 7 30 3
8.712.0
2.4 3.1
16.2%
37.9%
12.4%
29.2%
13.612.1
42.336.4
27.7 30.3
Jan-Des 2010 Jan-Des 2011
Other Airlines DOM GA
9.7 10.5
Jan-Des 2010 Jan-Des 2011
O h Ai li INTL GA
9.4% 8.2%
10
Sources: Company (direct competition GA routes in/out CGK,DPS,SUB,UPG), exclude Citilink
Other Airlines DOM GA Other Airlines INTL GA
GA Progress 2011 at a GlanceP fit bl t k ith k t h th i t tl
Domestic:Grow and dominate
• Profitable network with market share growth consistently• Carried 12.2 million passenger (up 40%), 79% SLF and USc11.8 passenger yield.• 1,254 corporate account , and consistenly renewal of existing corporate account• GFF member stongly growth6 t ( i l f UPG) t t th t kGrow and dominate
full‐service• 6 new routes (mainly from UPG) to strengthen network coverage• UPG as 3rd hub to generate local/feed traffic• Increase frequency of key routes• Good connectivity with international network• Implement non‐stop routing to capture premium yield (UPG‐SIN)• Carried 3.2 million passenger (up 21%), 72% SLF and USc8.2 passenger yield.• Integrated network with domestic network to provide good connectivity with domestic main cities
International :Enormous upside
P t ti l • Increase frequency of key routes (JKT‐SHA/SEL/SYD and DPS‐SEL)• Preparation to become a member of Global Alliance on progress• Commercial agreement with other Asian and Middle East airlines partners
• Carried 1.6 million passenger (up 42%), 76% SLF and USc5.8 passenger yield.
Potential
LCC :
Citilink to address the LCC Opportunity
Carried 1.6 million passenger (up 42%), 76% SLF and USc5.8 passenger yield.• Ready to expand with A320 fleet LCC configuration• Maintaining GA High Operating Standard and Safety• Focus on improved seat density, aircraft utilization and lower distribution costs• Target 2 hour flying radius
11
g y g• Competitive airfares to others relevant domestic competitor
• Uncertainty in financial market continued• Uncertainty regarding Jet Fuel Price• Due to Uncertainty, difficult to provide profit guidance for 2012
Macro Economy
Domestic:Grow and dominate
• Robust demand continued • Market demand growth still higher than market capacity growth• Still become our backbone with market share growth consistently• Continued to expand corporate account domestically and globallyGrow and dominate
full‐service• Continued to expand corporate account domestically and globally• Medan as 4rd hub to generate local/feed traffic• Continue to increase frequency of key routes•1Q‐2012 expected to be better than 1Q‐2011
• Limited expansion for International routes (Taipei and Haneda)• Increase frequency of key routes (Kuala Lumpur)• IT‐ready for Global Alliance
International :Enormous upside
Potential
LCC :
Citilink to address the LCC Opportunity
• Spin‐off in 2H‐2012• Ready to expand with A320 fleet LCC configuration• Achieve economic of scale in 2012
2929
Our Target in 2012
2011 2012
# of Fleet 87 105# of Fleet 87 105
Average fleet age* 6,5 5,8
Passenger Carried (Mio) 17,1 22,0
3030
Fleet Expansion Plan in 2012
2011Dec
2012Dec
In Out OpsLease
FinLease
Owned‐ By end of 2012, GA (Main
Brand ) will have 85 aircraft and citilink 20 aircraft