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PT Gozco Plantations Tbk.Company Presentation
Jakarta, April 2013
2
These presentations and/or other documents have been written and presented by
PT. Gozco Plantations Tbk. (“Gozco Plantations”). The information in this document
has not been independently verified. No representation or warranty expressed or
implied is made as to, and no reliance should be placed on, the
fairness, accuracy, completeness or correctness of such information or opinions
contained herein. None of Gozco Plantations, nor any of its affiliates, advisers or
representatives shall have any liability whatsoever (in negligence or otherwise) for
Disclaimer
representatives shall have any liability whatsoever (in negligence or otherwise) for
any loss whatsoever arising from the use of this document or its contents or
otherwise arising in connection with this document.
No endorsement is intended or implied notwithstanding the distribution of the
presentations and/or other documents. The materials and information in the
presentations and other documents are for informational purposes only, and are not
an offer or solicitation for the purchase or sale of any securities or financial
instruments or to provide any investment service or investment advice.
2
• About Gozco Plantations
• Operational & Financial Performance
• Target & CAPEX 2013
Outline
• Target & CAPEX 2013
3
Management Team
BOARD OF COMMISIONER
• President Commissioner : Mustofa
• Commissioner : Rudyansyah Bin Abdul Cosim
• Commissioner : Harijanto
• Independent Commissioner : Benyamin Subrata
4
• Independent Commissioner : Benyamin Subrata
BOARD OF DIRECTORS
• President Director : Tjandra Mindharta Gozali
• Vice President Director : Kreisna Dewantara Gozali
• Director : Andrew Michael Vincent
• Director : Jamal Rosyidin Hakki
• Director : Enggan Nursanti
• Non-Affiliated Director : Kho Livia Kartika
Company’s Milestones
1999• Initially entered oil palm business by acquiring Suryabumi, an estate at South Sumatra
with around 9 thousand ha in total area and 4 thousand ha immature area
2003
• Started to manage the estate full time under new management by conducting
reorganization & rehabilitation of the estate with 4 thousand ha planted area
• Commissioned first mill with 45 MT/hour
2005 • Expansion through first acquisition of Bumimas Indo Sawit, parent company of Pemdas
2006 • Acquisition of Golden Blossom Sumatra
2007 • Acquisition of Cahya Vidi Abadi
5
2007 • Acquisition of Cahya Vidi Abadi
2008
• PT Gozco Plantations Tbk. was listed on Indonesia Stock Exchange by releasing
30% ownerships (1.5 billion shares) to public at IDR 225/share
• The plantation asset was brought to IPO with 31 thousand ha in total area, 16 thousand
ha in planted area, 6 thousand ha in mature area plus 1 mill with 45 MT/hour capacity
2009• Acquired Palma Sejahtera
• Increased mill capacity to 90 MT/hour at Suryabumi
2010 • Started construction of 45 MT/hour Mill at Golden Blossom Sumatra
2011
• Achieved more than 120 thousand ha in total area, 36 thousand hectare planted area
with 20 thousand mature area with two mills of 90 MT and 45 MT/hour and 1 mill 45
MT/hour under construction
• Increased ownership in Golden Blossom Sumatra to 95%
2012 • Established the Gozco Standard Operating Procedures (GSOP)
Structure of The Company(as of December 2012)
6
Planted Area and Mill by Region(as of 31 December 2012)
West KalimantanPlanted Area: 6.498 Ha
7
South SumateraPlanted Area: 25.188 Ha
1 Mill: 90 Ton/Hour
1 Mill: 45 MT/Hour
(Under Construction)
Central KalimantanPlanted Area: 7.385 Ha
1 Mill: 45 Ton/Hour
Plantation Area(as of 31 Dec 2012 in hectares)
Due to the uncertainty of moratorium in the forest conversion which refers to Presidential Instruction No.10 in
2011, The company will only report land that falls under Land for Other Usage (APL) status. The detail as follow:
Company Location
Total Area
(ha)
APL Area (ha)
Status
Planted Area
Infrastucture Balance31/12/2011 2012 31/12/2012
Suryabumi South Sumatera 8.858 8.464 - 8.464 394 - HGU 2015
Golden Blossom
South Sumatera8.240 7.728 32 7.760 480 - HGU 2042- Nucleus
8
South Sumatera
- Plasma 8.081 7.131 375 7.505 575 -
Plasma Land
Permit
Cahya Vidi Abadi South Sumatera
1.166 909 163 1072 81 13 HGU 2045
5.000 - - - - 5.000 Land Permit
Pemdas South Sumatera 402 386 - 386 15 - Use Rights
Palmdale West Kalimantan 12.806 4.541 1.957 6.498 1.624 4.684
HGU In
Process
Telaga Sari Central Kalimantan 1.012 719 61 780 151 81 Land Permit
Indotruba Central Kalimantan 7.734 6.605 - 6.605 324 805 HGU 2038
Total 53.299 36.483 2.588 39.070 3.644 10.583
Planted Area Profile(as of 31 Des 2012 in hectares)
Immature
17.641
45.15%
Mature
21.430
54.85%
Planted Area
Young
8.194
Old
3.626
20.15%
Mature Planted Area
9
45.15%54.85%
*Including Indotruba Area of 6.605 ha
Average Age Planted Area : 8 Years 5 Months
8.194
35.23%
Prime
9.610
44.62%
Operational Performance 2012*(as of 31 Des 2012 da)
10
*Excluding production from Indotruba
FFB Nucleus Production(In Thousand Tons)
127
153 161 168 171
168
171
3%
11
2008 2009 2010 2011 2012
2011 2012
Yield 2012 : 13.98 ton/ha
FFB Processed(In Thousand Tons)
11
64
113
69
98
52
12
2008 2009 2010 2011 2012
128153 161 168 171
0
03 8 11 3rd Party
Plasma
Nucleus
CPO & PK Production(In Thousand Tons)
42
60
52
5854
12 12
CPO
PK
13
2008 2009 2010 2011 2012
912 11 12 10
Extraction rate (%) 2008 2009 2010 2011 2012
CPO 22.11 22.34 22.08 21.26 22.89
PK 4.54 4.32 4.48 4.33 4.34
Planted Area & New Planting (as of 31 Des 2012 in hectares)
Description31 Des 2011
Area (ha)
31 Des 2012
Area (ha)
Change
Area (ha)
Nucleus
Mature 18.855* 18.855* -
Immature 10.498 12.712 2.214
Planted Nucleus 29.353 31.567* 2.214
14
Plasma
Mature 1.688 2.574 886
Immature 5.443 4.931 (512)
Planted Plasma 7.131 7.505 374
Total
Total Mature 20.543* 21.428* 886
Total Immature 15.941 17.643 1.702
Total Planted 36.484 39.071 2.588
*Including TM Indotruba Area of 6.605 ha
Total New
Planting
Y2012
Financial Performance 2012*(as of 31 Des 2012 da)
15
*Excluding production from Indotruba
CPO & PK Sales Volume CPO & Palm Kernel(In Thousand Tons)
37
6057 58
52
16
2008 2009 2010 2011 2012
912 10
1310
CPO
PK
Average Selling Price*(IDR/Kg)
69986288
7239
7446
7102
CPO
17
3748 2936
45514887
3538
2008 2009 2010 2011 2012
CPO
PK
*Price Exclude Ppn
Sales Value(IDR Billions)
3446
61
36
493
291
408
455
405
18
2008 2009 2010 2011 2012
259
374409
432369
32
PK
CPO
Income Statement Highlights(IDR Billions)
IDR Billion 2008 2009 2010 2011 2012
Sales 291 408 455 493 405
19
Sales 291 408 455 493 405
Gross Profit 116 145 193 156 157
Net Profit Attributable to Owners of the
Parent55 204 161 167 97
Basic Earnings per share (IDR) 12.31 40.88 32.16 33.42 19.41
Balance Sheet Highlights(IDR Billions)
IDR Billion 2008 2009 2010 2011 2012
20
Total Assets 1.428 1.993 2.095 2.834 3.188
Total Liabilities 517 863 865 1.327 1.587
Equity Attributable to Owners of the Parent 881 1.069 1.170 1.492 1.584
Financial Ratios
Financial Year 2008 2009 2010 2011 2012
Gross Profit Margin (%) 39.86 35.54 42.42 31.64 38.77
21
Gross Profit Margin (%) 39.86 35.54 42.42 31.64 38.77
Net Margin (%) 18.83 50.11 35.38 33.90 23.94
Debt to Equity (%) 58.65 80.70 73.94 88.95 99.20
Return on Equity (%) 6.21 19.10 13.73 11.20 6.06
Target & Capex 2013
22
Target 2013
Production (Tons)2012
(Actual)
2013
(Projection)Projection Growth
FFB Production 171.274 200.000 17%
FFB Plasma & 3rd 63.381 100.000 58%
23
FFB Plasma & 3rd
Party63.381 100.000 58%
FFB Processed 234.771 300.000 28%
CPO 53.746 69.000 28%
Palm Kernel 10.182 12.000 18%
New Planting FY 2013: 4.000 ha
Capital Expenditures 2013
• New Planting of 4.000 ha : IDR 126 bio
• Maintenance of Immature of 13.822 ha : IDR 197 bio
• 30% remaining balance for new CPO Mill : IDR 35 bio
24
• 30% remaining balance for new Port @ GBS : IDR 6 bio
• Office Building Construction : IDR 5 bio
Budget Capital Expenditures FY 2013 ~
IDR 369 bio
Notes
Notes
Thank You
For further queries please contact :
Investor Relations at
www.gozco.com/investor.html
Jakarta Office
Graha Permata Pancoran
Jl. Raya Pasar Minggu No.32 C/10
South Jakarta, Indonesia
Telephone: +62 21 799 5676
Fax: +62 21 799 5663
Surabaya Office
Gedung Bank Yudha Bhakti Lt.5
Jl. Raya Darmo 54-56
Surabaya, Indonesia
Telephone: +62 31 561 2818
Fax: +62 31 562 0968
Palembang Office
Jl.Letjen Harun Sohar No.01
Palembang, Indonesia
Telephone: +62 711 413 777
Fax: +62 711 414 504