PT Wijaya Karya Beton Tbk 3Q 2014 Report Steps To Best Company in Concrete Industry 20-02-2015
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PT Wijaya Karya Beton Tbk 3Q 2014 Report
Steps To Best Company
in Concrete Industry
20-02-2015
DISCLAIMER
2
The information that follows is a presentation of general background information about PT Wijaya Karya Beton Tbk (the “Company” or “WIKA Beton”)prepared by the Company as of May 2014.
This presentation has been prepared for information purposes only. None of the information appearing in this presentation may be distributed to thepress or other media or reproduced or redistributed in the whole or in part in any form at any time. Any recipient of this presentation and its directors,officers, employees, agents and affiliates must hold this presentation and any information provided in connection with this presentation in strictconfidence and may not communicate, reproduce, distribute or disclose to any other person, or refer to them publicly, in whole or in part.
This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or any other jurisdiction inwhich such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction, and neitherthis presentation nor anything contained herein shall form the basis of or be relied on in connection with any contract or commitment whatsoever. Nosecurities may be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Any public offeringof securities to be made in the United States will be made by means of a prospectus. Such prospectus will contain detailed information about thecompany making the offer and its management and financial statements. No public offer of securities is to be made by the Company in the UnitedStates. This presentation may contain forward-looking statements and estimates with respect to the future operations and performance of the Companyand its affiliates. Investors and security holders are cautioned that forward-looking statements are subject to various assumptions, risks anduncertainties, many of which are difficult to predict and are generally beyond the control of the Company. Such assumptions, risks and uncertaintiescould cause actual results and developments to differ materially from those expressed in or implied by the forward-looking statements.
Accordingly, no representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of theinformation contained in this presentation, nor is it intended to be a complete statement or summary of the resources markets or developmentsreferred to in this presentation. It should not be regarded by recipients as a substitute for the exercise of their own judgment.
Neither the Company or any other person assumes responsibility for the accuracy, reliability and completeness of the forward-looking statementscontained in this presentation. The forward-looking statements are made only as of the date of this presentation. The Company is under no duty toupdate any of the forward-looking statements after this date to conform such statements to actual results or developments or to reflect the occurrenceof anticipated results or otherwise.
By accepting delivery of this presentation, the recipient agrees to accept and be bound by the statements, restrictions and limitations set forth herein.
2
1 COMPANY PROFILE
2 KEY INVESTMENT HIGHLIGHT
3 BUSINESS & INDUSTRY OVERVIEW
4 FINANCIAL HIGHLIGHT
5 COMPANY UPDATES
5
TABLE OF CONTENTS
3
Section 6
1 COMPANY PROFILE
To be the market leader in precast concrete industry in Southeast Asia
To provide excellent services to customers on the fulfillment of quality, time and price
To apply management system and technology which can increase efficiency, consistently maintain the quality, ensure the occupational health and safety based on environmental requirement
To continuously grow together with business partners for a mutual benefit
To enhance employees competence and welfare
“To be the foremost company in the precast concrete product industry”
CommitmentInnovation
BalanceExcellence
RelationshipTeamwork
Integrity
Vision
Mission
Core Value
VISION, MISSION & CORE VALUE
5
WIKA Beton As Sub Business Unit of WIKA
1960PT Wijaya Karya (Persero) (“WIKA”) was established.
1978 - 1980• Established new concrete factory in Bogor (1st factory).• New products: PC Poles and PC Panels.
1988• Established new concrete factory in Binjai,
North Sumatera (6th factory).• New products: bridge and drainage concretes.
1995Established new factory in Makassar, South Sulawesi (7th factory).
1981 - 1984• Established new concrete factories in Pasuruan (2nd factory),
Boyolali (3rd factory), and Majalengka (4th factory).• New products: PC Piles and Railway Sleepers.
1986Established new concrete factory in Lampung (5th factory).
KEY MILESTONE (1/2)
6
7
1997WIKA Beton was spun off as a subsidiary of WIKA.
2010Started to produce PC Piles with diameter of 1 meter.
2012• Established subsidiary, WIKA Kobe (9th factory).• Unit post tensioning.
2011• Chosen by International Organization for
Standardization, Geneva, as the reference in Economics Benefits of Standards case study.
• Established new factory in Karawang (8th factory)• New product: box girder.
2013• Established subsidiary, WIKA
Krakatau Beton (10th factory – in progress).
• Established new factory in South Lampung (11th factory – in progress).
• New line of business: quarry (natural resources processing – in progress).
• Developed new products: hollow core slab, precast concrete for building and industrial purpose.
2008• New products: marine structure and high quality concrete piles (PHC).• Implementation of corporate risk management.
WIKA Beton As Subsidiary of WIKAKEY MILESTONE (2/2)
7
Board of Commissioners
Board of Directors
Budi HartoPresident Commissioner
A. BoedionoCommissioner
Priyo SuproboIndependent Comm.
Tumik KristianingsihCommissioner
Nariman PrasetyoCommissioner
Wilfred I. A. SingkaliPresident Director
Hadian PramuditaDirector
Fery HendriyantoDirector
Entus Asnawi MukhsonDirector
M. ZulkarnainIndependent Director
MANAGEMENT TEAM
8
Asfiah MahdianiIndependent Comm.
Hari RespatiDirector
9
51.00%60.00%99.50%
CORPORATE STRUCTURE
Shareholder Share % Share %
PT Wijaya Karya (Persero) Tbk. 5,229,280,000 78.40% 5,229,280,000 60.00%
Koperasi Karya Mitra Satya 977,519,049 14.66% 977,519,049 11.22%
Yayasan Wijaya Karya 86,043,000 1.29% 86,043,000 0.99%
Treasury Stock 377,157,951 5.65% 377,157,951 4.33%
Public - - 2,045,466,600 23.47%
6,670,000,000 100.00% 8,715,466,600 100.00%
Before IPO After IPO
Foreign,
22.12%
Local,
77.88%
*as of 26 Dec 2014
2 KEY INVESTMENT HIGHLIGHT
Section 1
INVESTMENT HIGHLIGHTS
The Largest Capacity with Leading Market
Share to Promote
Economies of Scale
Experienced Management Team with
Extensive Track
Record in Precast
Concrete Industry
Pioneer in Indonesian Precast Concrete
Products with
Continuous Innovation
Most Complete Products in the
Industry
Wide Coverage and Well Integrated
Production Facilities
Across Indonesia
1
2
3 4
5
11
The Largest Capacity and Leading Market Share to Promote Economies of Scale
12
Based on MARS report, an independent surveyor, in January 2014, there are 28 precast concrete production facilities inIndonesia owned by 20 companies with total production capacity of 5.2 million ton per year. Around 89.3% of the totalcapacity is dominated by 9 companies.
WIKA Beton has the biggest production capacity with 38.6% of total production capacity in Indonesia or equivalent of2 million ton per year.
WIKA Beton’s market share was estimated around 42.7% in 2013.
Production Capacity of IndonesianPrecast Concrete Industry
PT WIKA Beton; 38.60%
API, 15.90%JB, 10.10%
JHS, 6.60%
BPI, 4.00%
PPI, 4.00%
KBJ, 3.60%
HCI, 3.50%
HSI, 3.00%
Others; 10.70%
Market Share of WIKA Beton Based on Sales (2013)
WIKA Beton; 42.7%Competitors;
57.3%
Source: MARS Source: BCI Asia
WIKA Beton is able to promote economies of scale compared to its competitors due to its size.
1
12
WIKA Beton is able to provide fast delivery and cheaper transportation costdue to close proximity to customers.
Wide Coverage: WIKA Beton will have 11 production facilities (including subsidiaries) by the end of 2014, 6 sales areas and 2 representative offices strategically located all across Indonesia.
Well Integrated: 1) Complete business cycle from engineering, raw material production, fabrication, and installation (Backward and Forward Integration); 2) Flexibility in moving supporting equipment such as moulding to all production facilities in Indonesia.
Wide Coverage and Well Integrated Production Facilities Across Indonesia 2
13
Experienced for more than 20 years in precast concrete and related industry.
Experienced Management Team with Extensive Track Recordin Precast Concrete Industry3 Wilfred I. A.
SingkaliPresident Director
31 years of experience in the precast industry
President Director of the Company since 2012.
Previously served as the Company’s Director of Engineering and Production (2007 –
2012).
Started his career with PT Wijaya Karya (Persero) Tbk as Staff of Research and
Development Construction Components in 1983.
Hadian PramuditaDirector
27 years of experience in the precast industry
Director of Marketing of the Company since 2012.
Previously served as the Company’s Marketing Manager (2008 – 2012).
Started his career with PT Wijaya Karya (Persero) as Staff of Engineering in Division of
Construction Component in 1987.
Entus AsnawiMukhsonDirector
26 years of experience in finance for construction
Director of Finance and Human Resource of the Company since 2011.
Previously served as Financial General Manager in PT Wijaya Karya (Persero) Tbk.
Started his career with PT Wijaya Karya (Persero) Tbk as Staff of Accounting and Finance
in 1988.
Fery HendriyantoDirector
21 years of experience in the precast industry
Director of Operation I of the Company since 2012.
Previously served as the Company’s Manager of Operation and Control (2007 – 2012).
Started his career with PT Wijaya Karya (Persero) Tbk as Sales Engineer in Division of
Concrete Products in 1993.
Hari RespatiDirector
31 years of experience the construction sector
Director of Operation Ii of the Company since 2013.
Previously served as Construction General Manager in PT Wijaya Karya (Persero) Tbk.
Started his career with PT Wijaya Karya (Persero) Tbk as Project Staff in Mataram (1983 –
1984).
M.ZulkarnainIndependent Director
Independent Director of the Company since March 2014.
Previously served as Acting Standardization Division Head PT Wijaya Karya Beton (2010).
Started his career with PT Wijaya Karya CAB VIII Surabaya (1978 – 1979). 14
1980The first PC Poles manufacturer.
1985The first precast concrete manufacturer for high rise building.
1984The first to pass PC sleepers test track.
1989Applied Segmental Mouldings System to improve efficiency and effectivity of production.
1995• The first precast concrete manufacturer earned ISO 9001 Certification.• Mass produced Very High Strength Concrete K-800.• Started to produce Corrugated Concrete Sheet Piles (CCSP).• The first manufacturer of high pressure concrete pipe.
2004The first to produce BigPC Segmental Box Girder.
2007The first PC Sleepers manufacturer for Turn Out (Wessel).
2009The first manufacturer to produce PC Piles with diameter of 800mm, 1,000mm and 1,200mm.
2012Earned PATENTS: Double Tee product and Railway Crossing.
2014PC Cylinder Piles with diameter up to 2,000mm
and maximum length of 60 meter.•Inner Boring System for PC Piles installation.
WIKA Beton is committed to improve product quality and costumer satisfaction through innovation
Pioneer in Indonesian Precast Concrete Products with Continuous Innovation4
15
6 8 10
7 9
4 2
5 3 1
1. PRE-STRESSED CONCRETE POLES
(PC POLES) 2. PRE-STRESSED CONCRETE PILES
(PC PILES)
3. BRIDGE CONCRETE 4. RAILWAY SLEEPERS
5. RETAINING WALL CONCRETE
(SHEET PILES)
6. HYDRO STRUCTURE CONCRETE
(PC PIPES)
7. MARINE STRUCTURE
CONCRETE
8. BUILDING AND HOUSING
PRODUCT 9. OTHER PRECAST CONCRETE 10. ENGINEERING SERVICES
WIKA Beton has the most complete sets of products to capture the demand in precast concrete industry.
Most Complete Sets of Product in Indonesia5
Electrical PC poles, transmission electrical PC poles, telecommunication PC poles, lighting PC poles and netting PC poles.
PC Piles Spun & Square (spinning method) and PC Piles Square & Triangle (vibration method).
I-Girder, U girder, Box girder, Voided slab, Concrete diaphragm, Half slab and Double Tee
KA-Clips, DE-Clips, Pandrol, E-Clips, and Vossloch.
Corrugated concrete (CCSP) and Flat sheet piles (FCSP).
Core Type prestressed concrete pipes (PC pipes) and Reinforced Concrete Pipes (RC Pipes).
Product to support dock and offshore projects such as jetty, bridge, and breakwater structures.
Precast walls, columns, beams, stairs and other structural and architectural components.
Pipe racks for oil companies, water storage and water-cooling towers for power plants.
Technical advice, recommendations, product installations, delivery and tensioning systems.
16
3 a. BUSINESS OVERVIEW
Section 3
PRODUCTION CAPACITY 2008 - 2018 Currently, WIKA Beton’s installed production capacity is approximately 2,2 million ton per year.
WIKA Beton’s installed production capacity is expected to grow 210% from 2008 – 2018.
Installed Production Capacity (Million Ton per Year)
Source: The Company
210%Increase In
Capacity
18
1.1 1.2
1.4
1.6
1.9 2.0
2.2 2.3
2.5
3.0
3.3
2008A 2009A 2010A 2011A 2012A 2013A 2014A 2015F 2016F 2017F 2018F
CUSTOMERS’ PROFILE
Top 10 Buyers 3Q - 2014
Energy, 15%
Mining, 13%
Property, 17%
Industry, 11%
Customers’ Profile Based on Line of Business in 2013 (Percentage of Revenue)
Customers’ Profile Based on Ownership in 2013 (Percentage of Revenue)
WIKA, 6%
State Owned Enterprise,
25%
Gov. of Indonesia,
4%Private -
Foreign, 6%
Private –Local, 59%
Based on line of business, Infrastructure sector contributed 44% of totalWIKA Beton’s revenue in 2013.
Based on customers’ ownership, private – local companies contributed59% of total WIKA Beton’s revenue in 2013, followed by State OwnedEnterprise with 25%.
WIKA Beton does not depend on any single buyer as each contributionof WIKA Beton’s Top 10 Buyers is no more than 7%.
19
Infrastructure,44%
No Customer Contribution
1 PT Wijaya Karya (Persero) Tbk 7%
2 PT Waskita Karya (Persero) 5%
3 PT Hutama Karya (Persero) 4%
4 PT Pembangunan Perumahan (Persero) Tbk 4%
5 PT D & C Engineering 3%
6 PT Energi Sejahtera Mas 3%
7 PT Perusahaan Listrik Negara (Persero) 3%
8 PT Multi Artha Pratama 3%
9 PT Sinar Menara Deli 2%
10 PT Rekayasa Industri 1%
LANDMARK PROJECTSBRIDGE & ROAD
BRIDGE & ROAD (cont’ d) POWER PLANT PORT
OIL & GAS
Pasupati Bridge(2004)
Cikubang – CipularangBridge (2006)
Suramadu Bridge(2008)
PLTU Cirebon(2011)
Power Plant - Semen Tonasa(2010)
Malayahati - Aceh (2006)Decorient//BAM – Dutch*
Gorgon Project – BARROW, AUSTRALIA (2012)Saipem SA*
Pipe Rack RFCC for Oil – Cilacap (2013)GS – Korea*
Drajat Cooling Tower – Garut (2005)Thiess*
East West Motorway Project –ALGERIA (2011)
Double Track Cirebon –Kroya (2012)
Bali Tollroad(2013)
Overpass Kamp. Melayu –Tanah Abang (2014)
*International Customer
20
Strategic Business Unit Forward IntegrationBackward Integration
Existing Products• Poles• Piles• Railway Sleepers• Bridge• Retaining Wall
New Products and Facilities• Pre-stressed Concrete Cylinder Piles• Hollow Core Slab and Building Precast
Component• Pipe Factory • New Production Facilities In South Lampung,
Balikpapan and Makassar• Acquiring competitors with similar business
Service• Engineering• Delivery Concrete Products
• Exporting Production System (Production Facilities)
• Processing Natural Resources : Bogor, South Lampung, Palu
• Chemical Admixture
• Ready-mix Concrete• PC Bar dan PC Wire Production• Mould Maker
• Inner Boring• Post Tensioning
Precast Engineering-Production-Installation (EPI)
• Marine Structure• Hydro Structure• Building• Other Precast
BUSINESS PLANBackward and Forward Integration
21
Maintain Market Share by
Expanding to New Businesses
Production Efficiency and Modernization
Backward and Forward
Integration
Increase Funding Capacity
1
2
3
4
► Increase capacity by adding more production facilities and its supports.
► Development of new innovative products that will meet the market needs.
► Acquire similar line of business to expand business network.
► Improve production efficiency to minimize the production cost.
► Improve and modernized production machinery to obtain lower cost while improving its quality.
► Backward Integration ensures material supply by acquiring quarries and equipment supply such as moulding to fulfill customized products.
► Forward Integration: Provide complementary services to improve the quality of work and customer satisfaction.
► Engineering Production Installation (EPI) provides comprehensive engineering solution for the customers.
► Adding more liquidity for working capital and capital expenditure.
► Lowering cost of fund through capital market.
Human Resources Improvement5 ► In obtain more competent and experienced human resources that would support their expansion plan.
Continuous Improvement and
Innovation6
► Collaborating with universities in research and development (R&D).
► Continuously exploring new products to catch market opportunity in the future.
► Standardization of the processes and products to maintain level of quality to the customers.
OUR BUSINESS STRATEGY
22
3 b. INDUSTRY OVERVIEW
Section 2
2,226(US$ 183B) 1,786
(US$ 147B)
4,012(US$ 330B)
Real Sector Infrastructure Total Investment
THE MASTERPLAN FOR ACCELERATION AND EXPANSION OF INDONESIA'S ECONOMIC DEVELOPMENT (MP3EI), 2011-2025
Source: MP3EI
339117
681
32326
18242
31
1,786
Ro
ad
Po
rt
Ener
gy
Air
po
rt
Rai
lway
Wat
erU
tilit
y
Tele
com
Oth
ers
Tota
l
Center of Mega Economic
Center of Economics
CE Sumatera CE Java CE Borneo CE SulawesiCE Bali –Nusa Tenggara CE Papua – Maluku Islands
Indonesia’s Economic Corridor
Indicated Investment for All 6 Indonesian Economic Corridors(IDR Trillion)
MP3EI Program (IDR Trillion)
MP3EI Program – Infrastructure (IDR Trillion)
51%
10%18%
21%Joint Venture
State OwnedEnterprise
Gov. ofIndonesia
Private
Type of Investor
Government of Indonesia targets Indonesia to be developed country by the end of 2025 which is planned through MP3EI program.
Total investment for developing infrastructure is around IDR1,786 trillion (US$147 billion) or 44.5% of the total investment in MP3EI (Rp4,012 trillion or US$330 billion*).*Assumption 1USD = Rp12,150
714 1,290 945
309 133 622
4,012
Sum
ater
a
Java
Bo
rne
o
Sula
wes
i
Bal
i & N
TT
Pap
ua
&M
alu
ku
Tota
l 6C
orr
ido
rs
24
Bal
i &N
usa
Ten
ggar
a
MP3EIPositive Outlook for Construction Sector Java dominated around 61.0% on average of the total construction followed by Sumatera and Borneo with 19% and 8%.
Historically, the growth of construction sector is divided into 3 different phases: 1) Without MP3EI in 2004 – 2010 (small construction value); 2) Consolidation period in 2011 – 2012 (steady state); 3) Implementation of MP3EI in 2013 – 2014 (big construction value).
Source: BPS (actual) & BCI Asia Estimates
56,005 67,318 71,943 81,675 102,016
255,628
313,173
370,418 379,142
447,481
519,408
2004A 2005A 2006A 2007A 2008A 2009A 2010A 2011A 2012A 2013A 2014A
Sumatera Java Lesser Sunda Island Borneo Sulawesi Papua & Maluku Island Total
Historical Growth of Construction Sector (IDR Billion)
Without MP3EIConsolidation
Period
ImplementationMP3EI
Growth in 6 YearsIDR257,168B
IDR42,861B/year
Growth in 2 YearsIDR65,969B
IDR32,984B/year
Growth in 2 YearsIDR140,267B
IDR70,133B/yearImplementation of MP3EI program increases average investmentvalue per year.
25Bali &Nusa Tenggara
3,103 3,176
3,748
4,572
5,670
6,422
7,279
7,965
2011A 2012A 2013A 2014F 2015F 2016F 2017F 2018F
Precast for Infrastructure Precast for Non-Infrastructure Total Permintaan
DEMAND OF INDONESIANPRECAST CONCRETE INDUSTRY
Source: BCI Asia Estimates
CAGR 16.3%
Forecasted Demand of Precast Concrete in Indonesia (in Thousand Ton)
Demand of Precast Concrete is expected to grow 16.3% from early 2014 to 2018
BCI Asia expected the demand for precast concrete will grow with CAGR 16.3% in 2014 – 2018 which is higher than thehistorical growth of CAGR 9.9% in 2011 – 2013.
Precast concrete demand is expected to come equally from infrastructure and non-infrastructure with 50% on averageof the total demand in 2014 - 2018.
CAGR 9.9%
Total Demand 26
27
28
Infrastructure Investment Requirement (RPJMN) 2015-2019 (Rp trillion)
Sector
Full
Scenario
(100%)
Partial Scenario(75%) Basic Scenario(50%)
Needs % of Full Scenario Needs% of Full
Scenario
Road 1274 851 67% 637 50%
Railway 278 222 80% 140 50%
Mass Transportation 166 115 69% 75 45%
Sea Transportation 563 424 75% 282 50%
Ferry and ASDP 91 80 88% 60 66%
Air Transportation 182 165 91% 100 55%
Electricity 1,080 762 71% 714 66%
Energy and Gas 535 420 79% 268 50%
Water Resources 1,091 845 77% 645 59%
Clean Water and Sewage 666 450 68% 330 50%
Public Housing 384 247 64% 180 47%
Information and
Communication Technology 242 200 83% 130 54%
Total 6,552 4,781 3,561
Investment Requirement(priority) 5,452
INFRASTRUCTURE INVESTMENT REQUIREMENT 2015-2019
4 FINANCIAL HIGHLIGHT
Section 5
ORDER BOOK & REVENUE Total order book is calculated through addition of new order book and carry over from previous year. Carry over from previous year may guarantee the amount of revenue generated in the following year. WIKA Beton has safely secured revenue of IDR 1.63 trillion in 2014 only from carry over from 2013.
Total Order Book Vs. Revenue (IDR Million)
30
New
Revenue 2008
1,021,729
Revenue 2009
1,416,182
Revenue 2010
1,430,435
Revenue 2011
1,635,087
Revenue 2012
2,030,597
Revenue 2013
2,643,724
Order Book2008
1,578,690
2008 2009 2010 2011 2012 2013
*Carry Over
From
20131,630,380
Revenue3Q 2014
2,322,634
3Q 2014
*Carry Over From 20131,630,380
New Order Book
3Q 20141,800,311
New Order Book
20081,264,578
*Carry Over From 2007
314,112
*Carry Over From 2008
895,977
New Order Book
20091,642,249
New Order Book
20101,311,046
*Carry Over From 20091,014,257
New Order Book
20111,908,707
*Carry Over From 2010
913,212
New Order Book
20122,587,543
*Carry Over From 20111,106,266
New Order Book
20132,678,381
*Carry Over From 20121,625,578
Order Book2009
2,538,226Order Book
20102,325,303
Order Book2011
2,821,919
Order Book2012
3,693,809
Order Book2013
4,303,959
Order Book2014
3,430,691
SUMMARY OF INCOME STATEMENTRevenue (IDR Bn) Gross Profit (IDR Bn)
Operating Profit (IDR Bn) Net Profit (IDR Bn)
31
1,416 1,430
1,635
2,031
2,644
2,323
2009 2010 2011 2012 2013 3Q 2014
CAGR
16.9%
146 148
206
265
388
337
2009 2010 2011 2012 2013 3Q 2014
CAGR
27.7%
124 120
176
231
336
284
2009 2010 2011 2012 2013 3Q 2014
CAGR
28.4%
82 92
144
179
241
219
2009 2010 2011 2012 2013 3Q 2014
CAGR
30.9%
REVENUE CONTRIBUTION
Revenue Contribution Based on Selling Area Revenue Contribution Based on Product
Selling area III DKI Jakarta has the largest contribution to revenue on average around 29% followed by Selling Area V East Java with around 20% from 2011 – 2013.
PC Piles dominated the revenue on average around 54% followed by PC Poles with 12% from 2011 – 2013.
Source: Audited Financial Statement Source: Audited Financial Statement 32
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2011 2012 2013 3Q 2014
Subsidiaries
Selling Area VI
Selling Area V
Selling Area IV
Selling Area III
Selling Area II
Selling Area I
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2011 2012 2013 3Q 2014
Other Product
Building & Housing
Marine Structure
Bridge Concrete
Retaining Walls
Precast Piles
Railway Sleepers
Precast Poles
33
INCOME STATEMENT, 3Q 2012-2014
Target
Full Year
NEW CONTRACT - - 1,800.3 3,001.0
REVENUE 1,354.8 100.0% 2,041.4 100.0% 2,322.6 100.0% 3,133.0 100.0%
% yoy 51% 14%
COST OF SALES (1,178.6) -87.0% (1,733.3) -84.9% (1,985.3) -85.5% (2,643.0) -84.4%
Gross Proft Margin 176.2 13.0% 308.1 15.1% 337.30 14.5% 490.0 15.6%
OPERATING EXPENSE 24.9 1.8% 35.8 1.8% 53.8 2.3% 78.0 2.5%
Operating Profit Margin 151.3 11.2% 272.3 13.3% 283.53 12.2% 412.0 13.2%
OTHER INCOME (EXPENSE) (0.9) -0.1% (6.7) -0.3% 0.1 0.0% (14.0) -0.4%
Earning Before Tax 150.4 11.1% 265.6 13.0% 283.7 12.2% 398.0 12.7%
INCOME TAX (28.2) -2.1% (71.5) -3.5% (64.6) -2.8% (85.0) -2.7%
Earning After Tax 122.2 9.0% 194.1 9.5% 219.08 9.4% 313.0 10.0%
% yoy 59% 13%
%AV
2014
Real %AV
2012 2013
%AVReal %AV Real
34
USAGE IPO PROCEED
Total Usage of IPO Proceed as of 31 Dec 2014 : 48,9%
Progress
No as of
31 Dec 2014
A BUSINESS EXPANSION (85%)
1 Processing of natural materials quarry in Cigudeg,
Donggala, Boyolali and South Lampung.
12% 46,1%
2 Development of New Factories in South Lampung,
Pasuruan, and Kalimantan.
34% 37,6%
3 Capacity expansion of existing factories at the factories
in North Sumatra Factory, Lampung, Bogor, Karawang,
Majalengka, Boyolali, South Sulawesi and mould
Products.
18% 39,3%
4 The services business development such as purchase of
inner boring pile equipment and addition of post
tensioning equipment.
18% 47,4%
5 The establishment of mould maker 3% 0,0%
B WORKING CAPITAL (15%)
Additional Working Capital 15% 100,0%
100%
SubjectBudget
Allocation
SUMMARY OF CONSOLIDATED BALANCE SHEETAssets (IDR Bn) Liabilities (IDR Bn)
Equity (IDR Bn) Current Ratio (x) & Quick Ratio (x)
35
1,597 1,523
1,839
2,401
2,917
3,841
2009 2010 2011 2012 2013 3Q 2014
CAGR
16.3%
1,338 1,201
1,409
1,797
2,187
1,721
2009 2010 2011 2012 2013 3Q 2014
CAGR
13.1%
259 322 430
604 730
2,121
2009 2010 2011 2012 2013 3Q 2014
CAGR
29.6%
0.56 0.59 0.49 0.52 0.59
1.32
1.06 1.051.00 1.02 1.06
1.76
2009 2010 2011 2012 2013 3Q 2014
Current Ratio
Quick Ratio
FINANCIAL RATIO AND PROFITABILITYProfit Margin
Return on Asset (ROA) and Return on Equity (ROE) Gearing Ratio (Equity)
36
10.3 10.3 12.6 13.1
14.7 14.5
8.7 8.4 10.8 11.4
12.7 12.2
5.8 6.4 8.8 8.8 9.1 9.4
2009 2010 2011 2012 2013 3Q 2014
Gross Profit Margin (%) Operating Profit Margin (%) Net Profit Margin (%)
0.18
0.03 0.040.03
0.74
0.25
2009 2010 2011 2012 2013 3Q 2014
Gearing Ratio
5.2 6.0 7.9 7.5
8.3
5.7
31.8 28.6
33.6
29.7
33.0
10.3
2009 2010 2011 2012 2013 3Q 2014
ROE (%)
ROA (%)
5 COMPANY UPDATES
Section 4
COMPANY UPDATES
38
A. QUARRY CIGUDEG – JAWA BARAT
• Land area 36,7 Ha
• Project’s working time 6 months
• Prod Capacity 350 ton per hour
• Starting operation on 29 Jan 2015
• Initial Investment : Rp 113bn
Stone Crusher Plant Area
Jaw Crusher & Grizzly FeederTunnel for Raw Material Stock
COMPANY UPDATESB. SOUTH LAMPUNG FACTORY (1/2)
• Land area 67 Ha
- Quarry 41 Ha
- Plant Area 26 Ha
• Project Progress :
- Cut & fill 95%
- Machinery Instalation & Jetty
expansion in progress
• Production : Cylinder Pile dia up to 2
meters, Lenght up to 100 meters.
• 1st phase : 2 Plant for Cylinder Pile
• 2nd phase : 2 Plant for Cylinder Pile
39
COMPANY UPDATES
40
B. SOUTH LAMPUNG FACTORY (2/2)
Jetty 7500 DWT Utility Building
Prototype Cylinder PileLoad Cell Area
41
COMPANY UPDATES
C. PASURUAN – EAST JAVA FACTORY
• Expansion Land next to existing factory 4,23 Ha,
on March 2014.
• Installment facilities for stockyard finished on
July 2014.
• Ready for extend production line.
42
COMPANY UPDATES
D. MAKASSAR - SOUTH SULAWESI FACTORY
• Expansion Land area 8 Ha, already secured.
• Location in KIMA, near existing factory.
• Currently used for additional stock location.
• Construction for production line finished per
Dec 2014.
43
COMPANY UPDATES
E. PT CITRA LAUTAN TEDUH (CLT)
• Sale and Purchase of Shares Agreement
(SPA) was signed on 10 Sept 2014, and has
been controlled by WIKA Beton.
• Acqusition Price USD 23,5mn.
• Production capacity 100.000 tons per year.
• Produce PC Spun Pile up to dia 600mm.
• Jetty facilitated up to 8.000 DWT.
• Total land area 27,5 Ha, usage area 5 Ha.
44
COMPANY UPDATESF. PT WIJAYA KARYA KRAKATAU BETON
Railway, Jkt - Merak
• Land area 3 Ha, already secured.
• Land clearing on progress.
• Utility work, on progress.
45
COMPANY UPDATESG. SOME OF ON GOING PROJECT
Gold Coast Apartment
and Golf Island Project in PIKAgung Sedayu Group Reclamation Project
PT OKI Pulp & Papers Mill Project in Sei Baung OKI
46
ANALYST REPORTNo Analyst Company Target Price (Rp) Maintain Report Date
1. Arief Budiman Ciptadana Securities 1,725 Buy 16 Jan 2015
2. Danny Eugene Mega Capital Indonesia 1,300 Buy 18 Sep 2014
3. Deidy Wijaya DBS Vickers Securities Indonesia 1,600 Buy 26 Jan 2015
4. Dian Octiana Buana Capital Securities 1,120 Hold 22 Oct 2014
5. Handoko Wijoyo Mandiri Sekuritas 1,600 Buy 6 Jan 2015
6. Joko Sogie Danareksa Sekuritas 1,350 Buy 8 Jan 2015
7. Martha Christina Phillip Capital Securities 1,420 Buy 5 Nov 2014
8. Maxi Liesaputra Sucorinvest Central Gani 1,550 Buy 19 Jan 2015
9. Rachel Tan Credit Suisse Malaysia 1,345 Buy 27 Nov 2014
10. Theodorus ArielKristian Lautandhana Securindo 1,250 Buy 21 Nov 2014
11. Yualdo Tirtakencana Yudoprawiro RHB-OSK Securities 1,260 Buy 20 Oct 2014
47
Price Volume (mn)
STOCK PERFORMANCE
0
50
100
150
200
250
300
Volume
-
200
400
600
800
1,000
1,200
1,400
Price
48
AWARDS & ACHIEVEMENT
SMK3 Thiess
ISO 9001:2008
SNI Audit Certificate
HIGHLIGHT 2014 – 2015
1. Top Gainer, Top Volume, and Top Value on 08 April 2014 at
Indonesia Stock Exchange;
2. WTON as part of Morgan Stanley Capital Index (MSCI) started on
07 Nov 2014;
3. Best IPO Deal of The Year 2014 in Southeast Asia by Alpha
Southeast Asia;
4. Best IPO of The Year 2014 in Southeast Asia For Retail Investors by
Alpha Southeast Asia;
5. Fastest Growing Issuers 2015 Category Cement by Majalah Warta
Ekonomi Indonesia (Economic News Magazine).
49
COMPANY NEWSCSR Program – Kutanegara, Karawang, West Java
WIKA Beton planted 13,851 Seeds in 2014
WIKA Beton goes to campus - ITB
Sanitary facilities for public
CSR Program – Scholarship and Education Program
WIKA Beton goes to campus - UNSRI
50
INDUSTRY NEWS
Source : Kontan Newspaper on 20 October 2014
END OF PRESENTATION
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