Public Expose 2016 - Elnusa

www.elnusa.co.id

PT Elnusa TbkAnalyst Meeting 2017

2

Agenda

COMPANYPROFILE

FINANCIALPERFORMANCE

STRATEGY & DEVELOPMENT

COMPANY PROFILE

4

Company Milestones

1969Establishment

1971‐1987

Entered seismic business, oilfied services, data management and 

fuel trading business 

2008IPO

7.298.500.000shares

2009

Non core divestment of PT Infomedia Nusantara

2011 ‐ 2012Elnusa

TurnaroundProgram

2013 ‐ 2014

Revitalizing Human Resources

2014 ‐ 2015The dawn of low oil price impacted to industry 

2016 ‐ 2017

Vanquishing Challenges through 

Ingenious Improvements

5

Elnusa Total Solution Services 

ExplorationDevelopment & Installation

Operation & Abandonment

Processing& Refinery

Logistic && Refinery

Equipm

ent /

 Sup

port

Offs

hore

Onsho

re

Seismic

Drilling Services

Well Services

Maintenance

Seismic

Well Services

Support Equipment Fabrication

OCTG Trading & Threading

Support Vessel

Chemical

Trunking

Data Management

Fleet & Depo Management

Vision : Reputable Energy Services Company through Total Solution

6

Shareholder & Management Structure

PERTAMINA as controlling shareholder & major client 

PT PERTAMINA (PERSERO)41,1%

DANA PENSIUNPERTAMINA

14,9%

PT Elnusa Oilfield Services

PT Elnusa Geosains Services

PT Elnusa Fabrikasi Konstruksi

PT Patra Nusa Data

PT Sigma Cipta Utama

PT Elnusa Trans Samudera

PT Elnusa Petrofin

PT Elnusa Patra Ritel

Integrated UpstreamOil & Gas Services

Oil & Gas Support Services

Logistic & DistributionServices

99,9%

99,9%

99,9%

99,9%

97,3%

70,0%

99,9%

99,9%

ELNUSA as operating Holding Company : Seismic & Oilfield Services

41.9%

37.5%

20.6%

IndividuDomestik

Badan UsahaDomestik

Asing

PUBLIC44,0%

COMPANYPERFORMANCE

8

Financial Highlights – 9M

INCOME STATEMENT 9M15 9M16 % Change

Revenue 2.619 100% 2.524 100% (3.7%)

Cost of Revenue 2.178 83% 2.094 80% (3.9%)

Gross Profit 441 17% 430 16% (2.6%)

Operating Profit 247 9% 281 11% 13.6%

EBITDA 447 17% 505 19% 13.1%

Net Profit 226 9% 178 7% (21.4%)

Revenue down 3.7% due to impact of slow activities in oil & gas especially to our drilling services business.

We succesfully managed our cost and efficiency which reflected to the growth of our operating profit and EBITDA.

Aside of lower operational activities, net profit dropped 21.4% this September was caused by forex loss of Rp22 bn compared to gain on forex of Rp68 bn last year.

IDR Bn

9

Financial Highlights – 9M

BALANCE SHEET 9M15 9M16 % Change

Cash & Equivalents 868 20% 670 16% (22.8%)

Account Receivables 785 18% 677 16% (13.8%)

Total Assets 4.308 100% 4.099 100% (4.9%)

Account Payables & Accruals 987 23% 808 19% (18.1%)

Short Term Bank Loan 299 7% 389 10% 30.2%

Long Term Bank Loan 375 9% 40 1% (89.2%)

Total Liabilities 1.785 45% 1.361 32% (23.8%)

Total Equity 2.523 59% 2.738 64% 8.5%

Account receivables declined 13.8% to Rp677 bn due tomanagement’s policy to shorten collection days period.  

Interest bearing debt dropped 30% to Rp430 bn due to loan payment of around USD23 mn during period in order to optimize cash position and reduce interest expenses and was impacted to total Liabilities which declined 23.8% to Rp 1,785 bn.

Equity up 8.5% to Rp2,738 bn as the impact of improved retained earnings.

10

Segment Highlights

10

1,176 852

26%

19%

390 421

10%

18%

1,211 1,342

13%16%

9M15 9M16

Drilling & Oilfield Services

Seismic Services

Transportation, Logistic & Other Services

Drilling & Oilfield Services revenue declined 28% to Rp852 bn mostly caused by drilling business contract termination, but on the other hand, we currently focus on operation maintenance business to cover the slowdown in upstream industry.

Seismic Services up 8% to Rp421 bn as projects in Pertamina was performed satisfactory. In Subsidiaries, revenue from transportation services increased 10% while another subsidiary 

(data management) experienced  higher activities.

IDR BnRevenue & Gross Margin

34%

17%

43%

7%

DOS GSC EPN Others

2016Revenue

Contrbution

‐28%

8%

16%

11

ELSA Stock Performance

11

0

100

200

300

400

500

600

700

800

Jan‐15

Feb‐15

Mar‐15

Apr‐15

May‐15

Jun‐15

Jul‐15

Aug‐15

Sep‐15

Oct‐15

Nov‐15

Dec‐15

Jan‐16

Feb‐16

Mar‐16

Apr‐16

May‐16

Jun‐16

Jul‐16

Aug‐16

Sep‐16

Volume Price

Rp 67001/15

Rp 23408/15 Rp 174

01/16

Rp 45609/16

Rp 60006/16

Since mid 2015 ELSA stock performance tends to have correlation with oil price  sentiment.

During 2015 – 2016 September, highest price of ELSA was Rp670 and lowest price was Rp174.

Up to September 2016, the average price was Rp392 and average volume was 83mn. Market Cap was around Rp3.3 trillion.

This liquidity has brought ELSA to be included to LQ 45 index for the period of August 2016 – January 2017.

12

Contract Profile 

Carry over contract from 2015 was USD 311,1 mn which consisted of USD 241,6mn from Drilling & Oilfield and USD 69,5 from Seismic.

New contract up to September 2016 amounted to USD 76,8 mn which are USD 69mn of Drilling & Oilfield and USD 7,8mn of Seismic.

Until end of Dec 2016 total project that is estimated to be realized will be about USD 171,9mn.

Total Carry forward contract will be around USD 216 mn.

311.176,8 387.9 171.9

216.0

Carry Over New Contract Total Contract 2016 Projection Carry Forward

Drillling & Oilfield SeismicIn USD mn

13

The Best Contractor in Delta Mahakam

For the third time, ELNUSA received The Mahakam Award & The Best Contractor for category of SafetyPerformance of High Risk Contract > 400,000 Manhoursin TOTAL EP INDONESIE’s HSE Communication Forum 2016. 

ELNUSA has been operating in Delta Mahakam (for Total EP Indonesie) for more than 30 years (since 1982).

Well Testing & Slickline

ELNUSA Services in Delta Mahakam

Hydraulic Workover & Snubbing

Coiled Tubing, Well Stimulation & Pumping

Work Barge

Accommodation Work Barge

Multi Purpose Barge

STRATEGY & DEVELOPMENT

15

Industry Update : Oil price is projected to recover gradually

15

Global oil crude market messages by IHS Market : Dated brent expected to rise to an average of $52/bbl in 2017 as the impact of deep spending cuts 

on production. Annual world oil demand growth of just over 1 MMb/d is a critical assumption underpinning for 

the market to stay more‐or‐less balanced through 2017. There is upside potential to our supply outlook for some areas, despite the lower price

environment. The post‐summer trajectory of Saudi Arabia’s crude production will be a key signpost for prices.

16

Business Strategy

STABILITYMaintain Profit

Help clients in carrying outefficiency

DevelopInternal improvement

GROWTHDiversifica‐

tion

Diversification tominimize risk

Potential recurring income

Optimize Integrate Diversify

Focus on Energy in Core BusinessSelective Services in Non‐Energy Sector

17

Market Penetration in Marine Support Services

Exploring New DiscoveriesContributing to National Resources

An Indonesia PrideELSA REGENT

Indonesian Flag ‐ Marine Seismic Vessel Highest seismic vessel local content 

in Indonesia (TKDN) Superior broadband seismic data 

acquisition & processing Efficient survey utilization through 

high capacity 3D seismic vessel Full azimuth dataset for subsurface 

illumination solution

18

Product Development : Flare Gas 

Flare Gas

0,5 ‐ 10 mmcfd

0,009 – 0,065 mmcfd

CH4 (gas)

NGL (liquid)

Condensate (liquid)

Flare to Liquid service

Flare to Power service

Electric up to 350 kw/unit

Key Drivers Clients needs to comply with regulation Oil Company needs to reduce the oil lifting cost Potential additional income for PSC Indonesian LPG import keep increasing Big Flare gas potential in Pertamina fields

19

Market Expansion to Regional Area

AlgeriaSeismic Reprocessingfor Pertamina Algeria 

E&P

MalaysiaSnubbing Services

in Petronas

BruneiMarine Support & 

Snubbing Job in Shell Brunei

India2D Land Seismic in ONGC & 3D Land Seismic in Oil India Ltd (Technical Expertise)

ThailandSnubbing services in Chevron Thailand E&P

Ongoing project / under contract

Prospect market

MalaysiaWell Testing & TCP services in Petronas Carigali & workover services in KPOC 

PT Elnusa Tbk.Graha ElnusaJl. T.B. Simatupang Kav. 1BJakarta 12560, IndonesiaTel: +62 21‐78830850 Fax: +62 21‐78830907www.elnusa.co.id

Thank YouDISCLAIMER :

The information in this document has not been independently verified. No representation or warranty expressed or implied is made as to, and no relianceshould be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. None of PT Elnusa Tbk (the“Company“), nor any of its affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss whatsoeverarising from the use of this document or its contents or otherwise arising in connectionwith this document.

This document is being furnished to you solely for your information on a confidential basis and may not be reproduced, redistributed or passed on, in wholeor in part, to any other person. Any failure to comply with these restrictions may constitute a violation of the laws of any such other jurisdiction. Byaccepting this document you agree to be bound by the foregoing limitations.

This document does not constitute or form part of an offer or invitation to purchase any shares in the Company and neither shall any part of it form thebasis of nor be relied upon in connection with any contract or commitment whatsoever. Any decision to purchase shares should be made solely on the basisof information contained in the prospectus.

20