MANAGEMENT PRESENTATION PT Adhi Karya (Persero) Tbk. Jakarta September 2015
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MILESTONE 1960
1974
2004
PN Adhi Karya nationalized from Dutch Company Associate N.V.
PN Adhi Karya changed to PT Adhi Karya (Persero)
Go Public 18 March 2004 ADHI, first SOE Construction to be listed in IDX
PT Adhi Karya (Persero)
2015
2014 Subsidiaries Establishment
Acquire the approval for Government additional equity injection (PMN)
July 2011
TRANSFORMATION OF ADHI: • Changing Vision & Mission • RJPP 2012-2016, 5 Lines of Business [CONSTRUCTION, EPC, PROPERTY, REALTY, INVESTMENT INFRASTRUCTURE] • Organization Restructure • Establishment of ADHI Learning Center • Corporate Value: • Work Smart Corporate Culture • Responsible Honesty • Modest
2013 MoU (Consortium Transportasi Massal BUMN)
Grandhika Blok M Hotel
2012 Precast Factory
Subsidiaries Establishment
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LINE OF BUSINESS
CONSTRUCTION Building Airport Seaport Road & Bridges Watery Works Railway
EPC Power Plant Industry Oil & Gas
PROPERTY & REALTY Apartment Offices Condotel
HOTEL Grandhika Hotel
Hotel Division
PT APG
PMU Power 1, Oil&Gas
PT APP
Construction Division 1 -7
PMU Power 2, IPP
Divison Property TOD
INVESTMENT Precast Concrete Transportation IPP
PT APB LRT Division
PMU RFCC SPC IPP 3
Operational Performance ORDER BOOK
TENDER RATE 60,000 50,000
28% 21% 32,634
33,391
17%
20,000 10,000
45,841 25%
40,000 30,000
33%
47,921
46,782
35%
8,132
30% 25% 20% 15%
11,927
9,604
10,854
9,218
10% 5% 0%
‐ 2010
2011
Tender Bid (IDR)
2012
Tender Won (IDR)
2013
2014
Competitive Rate (%)
60.00%
25,000 20,000
46.15% 41.18%
15,000
35.49%
48.18%
50.00% 40.00%
37.79% 9,604
30.00%
10,854 9,218
10,000 8,132
11,927
5,000 5,648
6,940
20.00% 10,580
10,380
8,745
‐
10.00% 0.00%
2010 2011 2012 Carry Over New Contract
2013 2014 Sales per Order Book Ratio
Realisasi s.d. Agustus 2015 SUMBER DANA
JENIS PEKERJAAN Gedung 60% Jalan & Jembatan 28% Infrastruktur Lainnya 9%
Total Tender yang diikuti Hit Rate Tender Sudah Kontrak Penetapan Pemenang Tender Terendah Jumlah
: 38.255 M : 28.0% : 7.863 M : 1.524 M : 1.290 M : 10.678 M
APBD 19%
APBN 25%
BUMN 13%
Swasta/Lainnya 43%
Dermaga 3%
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Financial Summary Revenue
Gross Profit and Gross Profit Margin In billion IDR 12.52%
In billion IDR 12,000
1,800 9,799
10,000
8,653 7,628
8,000 6,000
6,695 5,675
10.97% 12.53%
12.18%
11.54%
10.12%
1,600
16.00%
1,400
14.00%
1,200
12.00%
1,000
10.00%
800
4,000
3,212
8.00%
600 400
2,000
1,193 955 710
6.00%
998
4.00%
734
200
325
‐
‐ 2010
2011
2012
2013
2014
2.00% 0.00%
2010
Jun‐15
2011
2012
2013
2014
Jun‐15
Net Income and Net Profit Margin
EBITDA and EBITDA Margin In billion IDR 9.92% 1400
18.00%
In billion IDR 8.39%
10.46%
9.50%
7.83%
5.92%
14.00%
6.00%
600 3.33%
2.72%
2.78%
4.14%
3.80%
2.19%
1200
12.00%
500
5.00%
1000
10.00%
400
4.00%
800
8.00%
300
3.00%
6.00%
600 400 200
798 563
2.00% 190 0.00%
0 2010
2011
2012
2013
2014
Jun‐15
2.00% 329
4.00%
678
562
406
200
931
100
189
182
212
1.00% 70 0.00%
0 2010
2011
2012
2013
2014
Jun‐15 5
TOTAL ASSETS, LIABILITY & EQUITY 14,000
12,000
Total Assets
10,000
Total Assets Total Assets
8,000
6,000
4,000
Total Assets
6,113
4,928
990
7,872
Total Assets
10,459
9,721
Total Assets
11,609 1,615
1,641 1,460
1,077
9,994
868
8,261
8,818
6,795 2,000
4,060
5,123
‐ 2010
2011
2012 Total Liability
2013
2014
Jun‐15
Total Equity 6
Indicative Offering Structure – Rights Issue Key indicative terms Issuer
PT Adhi Karya (Persero) Tbk. (“ADHI”)
Entitlement ratio
Renounceable 100,920 rights shares for every 100,000 existing share
Number of rights shares to be issued
1,143,757,141 to 1,817,892,144 shares or 38.8% ‐ 50.2% of enlarged capital
Rights price range
IDR1,510 – IDR2,400 per share
Up to IDR2.745 trn (c,US$225 m) • Republic of Indonesia portion • Public portion
Rights offer size
: IDR1.400 trillion : IDR1.345 trillion
OJK Registered format with : • Republic of Indonesia undertaking to fully subscribe for its pro rate stake of 51.0% ownership • Joint Lead Managers to act as standby purchasers for unsubscribed rights
Republic of Indonesia (51.0% of the rights shares)
Joint Lead Managers & Standby Purchasers
PT Bahana Securities, PT Danareksa Sekuritas, PT Mandiri Sekuritas (for the remaining 49.0% rights shares)
Use of proceeds
Railway based mass transportation project (LRT) including its stations and property projects
Offering Format Undertaking shareholder
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Indicative Timetable Rights Issue
Pricing date
14 September 2015
ADHI’s EGMS date
22 September 2015
Cum date (Regular & Negotiation Market)
30 September 2015
Recording date
05 October 2015
Listing date
07 October 2015
Trading of rights date
13 – 16 October 2015
Allocation date
19 October 2015
Settlement of excess rights (rump) shares
26 October 2015
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THE INNER CITY TRANSPORTATION LIGHT RAIL TRANSIT INDONESIA
Tr a n s p o r t a s i M a s s a l B e r b a s i s Re l J a b o d e t a b e k
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Landasan Hukum Peraturan Presiden Nomor 98 tanggal 2 September 2015 TENTANG : PERCEPATAN PENYELENGGARAAN KERETA API RINGAN/ LIGHT RAIL TRANSIT TERINTEGRASI DI WILAYAH JAKARTA, BOGOR, DEPOK, DAN BEKASI
Pemerintah menugaskan ADHI untuk membangun PRASARANA Kereta Api Ringan/ LRT terintegrasi untuk lintas pelayanan : • Cawang – Cibubur • Cawang – Kuningan – Dukuh Atas • Cawang – Bekasi Timur • Dukuh Atas – Palmerah – Senayan • Cibubur – Bogor • Palmerah – Grogol • Lintas Pelayanan lainnya yang ditetapkan dengan Peraturan Menteri Perhubungan Scope Pekerjaan PRASARANA meliputi : • Jalur, termasuk konstruksi layang • Stasiun • Fasilitas operasi 10
Peta Lintas Pelayanan LRT KABUPATEN TANGERANG
PROVINSI DKI JAKARTA KABUPATEN BEKASI
KOTA TANGERANG KOTA BEKASI
KOTA TANGERANG SELATAN
Sta. Taman Mini
Sta. Kp. Rambutan Sta. Ciracas Sta. Cibubur
KOTA DEPOK
Sta. Cibinong
KABUPATEN BOGOR
Sta. Sentul Sirkuit
KOTA BOGOR
Sta. Sentul City
Sta. Baranangsiang 11
KAPASITAS DAN WAKTU TEMPUH LIGHT RAIL TRANSIT (LRT)
CibuburCawang
Panjang (km)
Dukuh AtasCawangCawangPalmerahDukuh Atas Bekasi Timur Senayan
CibuburBogor
PalmerahBogor
13.7
10.5
17.9
5.5
30.5
5.5
12,000
24,000
12,000
24,000
24,000
24,000
Waktu Tempuh (menit)
21
18
27
12
37
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Jumlah Stasiun
5
7
5
3
4
5
PPHPD (Passenger per Hour per Direction)
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PT Adhi Karya (Persero) Tbk.
THANK YOU Visit us at www.adhi.co.id For further information please contact: Ki Syahgolang Permata, Corporate Secretary P. +62 21 797 5312 F. +62 21 797 5311 E.
[email protected] Disclaimer: Important Notice This document was prepared solely and exclusively for the parties presently being invited for the purpose of discussion. Neither this document nor any of its content may be reproduced, disclosed or used without the prior written consent of PT Adhi Karya (Persero) Tbk. This document may contain statements that convey future oriented expectations which represent the Company’s present views on the probable future events and financial plans. Such views are presented on the basis of current assumptions, are exposed to various risks and are subject to considerable changes at any time. Presented assumptions are presumed correct, and based on the data available on the date, which this document is assembled. The company warrants no assurance that such outlook will, in part of as a whole, eventually be materialized. Actual results may diverge significantly from those projected. The information in this document is subject to change without notice, its accuracy is not verified or guaranteed, it may be incomplete or condensed and it may not contain all material information concerning the Company. None of the Company, PT Adhi Karya (Persero) Tbk. or any person connected with any of them accepts any liability whatsoever for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection therewith.
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