INVESTOR UPDATE - pelindo.co.id · Pelindo III is a leading port operator in Indonesia, serving the fast growing regions of Central and Eastern Indonesia, focusing on both the domestic

PT Pelabuhan Indonesia III (Persero)

INVESTOR UPDATE

First Half 2018 Performance

DISCLAIMER

2

This presentation has been prepared by PT Pelabuhan Indonesia (Persero) (“Pelindo III” or the “Issuer”). This presentation is being presented solely

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below. Any failure to comply with these restrictions may constitute a violation of applicable securities laws.

This presentation contains forward-looking statements that involve risks and uncertainties. All statements other than statements of historical facts are

forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results,

performance or achievements of Pelindo III to be materially different from those expressed or implied by the forward-looking statements.

This presentation may not be reproduced, disseminated or quoted without the prior written consent of the Pelindo III. Relaying copies of this

presentation to other persons in your company or elsewhere is prohibited

TABLE OF CONTENT

3

PRIVATE & CONFIDENTIAL

COMPANY OVERVIEW I

INDUSTRY OVERVIEW II

KEY CREDIT HIGHLIGHTS III

FINANCIAL HIGHLIGHTS IV

4

12

15

25

COMPANY OVERVIEW


I

1,856 1,968 2,117 1,355 1,396

2,504 2,643 2,802

1,023 1,055

Domestic International

LEADING PORT OPERATOR IN INDONESIA

5

COMPANY OVERVIEW

Pelindo III is a leading port operator in Indonesia, serving the fast growing regions of Central and Eastern Indonesia,

focusing on both the domestic and international container market

(TEUs '000) CAGR (2015 – 2017) : 6.2%

Operates 4 out of the top 10 container ports in Indonesia

CARGO SERVICES (78%) (2) SHIP SERVICES (11%) (2) OTHER SERVICES (11%) (2)

Cargo handling services and provision of

cargo storage and transportation facilities:

- Containerized

- Dry Bulk

- Liquid Bulk

- General Cargo

43 ports in some of the largest and fastest growing provinces

Operating history of more than 57 years

Strategically important to the maritime development of Indonesia

Gateway hub to Central and Eastern Indonesia

Complete range of ship services

including:

- Pilotage

- Towage

- Berthing Services

Complementary value added services,

such as:

- Provision of fresh water

- Electricity

- Medical services

- Other non port related services

Pelindo III’s container traffic (1)

(1) Based on internal estimates and excluding private ports and non-commercial government-owned ports

(2) As a percentage of net revenue for 1H 2018

YoY 3.1% 4,360

4,611 4,919

2,378 2,451

2015 2016 2017 1H 2017 1H 2018

76%

11%

7%

2% 4%

Containers General Cargo Dry Bulk

Liquid Bulk Other Cargo Services

14%

40% 21%

25%

Pilotage Towage Berthing Other Ship Services

5,016 5,357 6,610

2,917 3,553

709 685

864

410 513

755 1,444

1,375

849 493

Cargo Services Ship Services Other Services

INTEGRATED SERVICE OFFERING

6

COMPANY OVERVIEW

CARGO SERVICES (78%) (1) SHIP SERVICES (11%) (1) OTHER SERVICES (11%) (1)

NET REVENUE GROWTH

(Rp Billions)

Rp3.5

Trillion

(1) As a percentage of net revenue for 1H 2018

1H 2018 REVENUE SPLIT PER BUSINESS LINE

6,480

7,486

8,849

4,176 4,559

Rp0.5

Trillion

755

1,444 1,375

849

493

12%

19%

16%

20%

11%

0%

5%

10%

15%

20%

25%

-

200

400

600

800

1,000

1,200

1,400

1,600

Other Services (%) of net revenue

1H 2018 REVENUE SPLIT PER BUSINESS LINE YoY REVENUE TREND

2015 1H 2018 1H 2017 2017 2016

2015 2016 2017 1H 2017 1H 2018

GROUP AND SHAREHOLDING STRUCTURE

7

COMPANY OVERVIEW

6

4

13

DIRECT SUBSIDIARIES

AFFILIATES

INDIRECT SUBSIDIARIES

Pelindo III is 100% owned by the Republic of Indonesia

GATEWAY DOMESTIC AND INTERNATIONAL PORT

COMPANY OVERVIEW

Pelindo III’s main branch in Tanjung Perak serves as the gateway port for Surabaya (Indonesia’s second largest city), as the domestic hub

for Central and Eastern Indonesia, and one of the key hub identified in the Sea Toll Program

Port Net Revenue (Rp Billions)

Small Port S

8

3,5

90

87

9

39

3

1,6

17

3,8

80

90

5

39

4

2,3

06

4,6

47

1,1

26

42

6

2,6

52

2,5

33

52

4

19

2 9

27

2,6

66

55

4

20

7

1,1

32

TANJUNG PERAK TANJUNG EMAS BANJARMASIN OTHER PORTS

2015 2016 2017 1H 2017 1H 2018

Tanjung Emas (TEUs) Other Ports (TEUs) Banjarmasin (TEUs) Tanjung Perak (TEUs) (A) (B) (C)

5,497 5,633 6,761

5,763 6,761

3,121 3,327 3,533

1,714 1,778

56.8%

59.1% 52.3%

29.7%

26.3%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

-

2,000

4,000

6,000

8,000

10,000

12,000

Capacity Throughput Utilization

1,191 1,487 1,577

1,577 1,577

608

615 634

314 310

51.1%

41.4% 40.2%

19.9% 19.7%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

-

500

1,000

1,500

2,000

2,500


619 619 825

1,100

825

388 408

422 203

212

62.8% 65.9%

51.1%

18.5%

25.7%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

-

200

400

600

800

1,000

1,200

1,400


984 1,058 1,158 1,058 1,158

243 261

310

147 151

24.7% 24.7%

26.8%

13.9% 13.0%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

-

200

400

600

800

1,000

1,200

1,400

1,600


2015 2016 2017 1H 2017 1H 2018 2015 2016 2017 1H 2017 1H 2018 2015 2016 2017 1H 2017 1H 2018 2015 2016 2017 1H 2017 1H 2018

EVOLUTION OF PELINDO III TO A FULLY-FLEDGED

COMMERCIAL PORT AGENCY

COMPANY OVERVIEW

1992

Formally incorporated as

a limited liability company

pursuant to Deed No. 5

dated December 1, 1992

1999 Pelindo III entered into a

JV with DP World Asia

Holdings Limited

(“DPW”) under 20 year

concession ending 2019

2010 We pioneered the window

system at Nilam Terminal at

Tanjung Perak and TPKB at

Banjarmasin

2011

2012

We entered into two joint

ventures with PT Usaha Era

Pratama Nusantara (“UEPN”),

a subsidiary of PT AKR

Corporindo (“AKR”) to

develop and operate Java

Integrated Industrial Port and

Estate (“JIIPE”)

2013 ESTABLISHED

2014

Awarded 25 years

concession for Surabaya

West Access Channel and

established APBS

2015

Sea Toll Program

Implementation

commenced

operations of the

international

container terminal

at Teluk Lamong

2016 commenced

operations of the

domestic dry and

liquid bulk terminal

at JIIPE Port

2017

Achieved capacity of

more than 10 million

TEUs and close to 5

million TEUs throughput

2018 - 2022

Key future developments

• Phase III of Teluk Lamong

Terminal

• JIIPE Project

• Kendal Port

• Tanjung Bulupandan

• New Gili Mas Terminal at

port in Lembar

• Expansion of Benoa port

in Bali

9

Pelindo III commenced the

development of Teluk

Lamong Terminal in order to

reduce overcrowding at

Tanjung Perak and to

provide additional capacity

KEY BUSINESS STRATEGIES

10

COMPANY OVERVIEW

People

Processes

Technology

Cultivate a productive culture in the

organization

Business Processes Enables People & Processes, and

supports daily operations

Participative leadership culture

Maintain optimal number of

employees with appropriate skill

sets

Compatible values

Improve competencies and

understanding of the Company

through rotation of roles

Standardize services in all ports to

increase efficiency

Port Community System

Automation of services

ICT Based System

Finance platform for payment

transfers

Corporate Culture Transformation

• Reconfiguring our terminals to cluster our cargo handling

services at our major ports and at our other ports where

feasible

• Each terminal will have designated areas that are dedicated to

handling specific types of cargo, thereby improving

productivity and reducing the waiting time for customers

• Example of clustering services plan:

• Tanjung Perak Port: Nilam Termina to focus on

container and bulk commodities services and

Kalimas Terminal to focus on providing traditional

shipping services, logistics and docking of small

boats

• Tanjung Emas Port: West Kalibaru Terminal to focus

on dry and liquid bulk terminal services and Tambak

Lorok to focus on traditional shipping services

11

KEY STRATEGIES

COMPANY OVERVIEW

Clustering of Services

To Achieve Greater Operational

and Cost Efficiency

• Modernizing our port equipment and infrastructure throughout

our port facilities to increase the capacity of our ports and

improve the services provided to our customers

• Modernizing our IT infrastructure, together with state of the art

cargo handling equipment, will eliminate equipment down

time, increase berth utilization and continuously maximize

efficiency and throughput at our ports

• Modern equipment will provide greater automation of services

and minimize costs

Modernization of Facilities at

Existing Ports

• Expanding our operations by increasing capacity at our

existing facilities and developing new ports in strategic

locations

• For example:

• The development of our Teluk Lamong Terminal in

2011 order to reduce overcrowding at Tanjung Perak

• The development of JIIPE port, an in integrated port

and industrial estate, featuring multipurpose cargo

handling capabilities

Prudent Development and

Expansion of New and Existing

Ports and Related Infrastructure

• Expanding service offerings into other lines of business to

optimize the utilization of resources and diversify revenue base

• Recently established subsidiaries to operate and grow new

non-core lines of business

• Net revenue from our non-core lines of business is expected to

contribute more than 20.0% of total net revenue by 2019

Diversify Into Complementary

Business Lines

• Focus on developing human resources and corporate culture

as a recognition of the need to uphold a corporate culture that

is aligned with business, industry and strategy

• in recent years, employee benefits are reviewed and changes

are implemented which we is believed contributed to a

reduction in employee turnover rate

Develop Our Human Resources

and Corporate Culture

• Focusing on utilizing information technology as a key aspect in

creating value for customers, partners and stakeholders

• in the process of implementing an information and

communication technology (“ICT”) based system to monitor,

coordinate and execute our business activities

• Plan to establish a fully integrated terminal and logistics

handling system by 2019

Implement Technological

Improvements

INDUSTRY OVERVIEW


II

MARKET OVERVIEW

13

INDUSTRY OVERVIEW

GLOBAL PORT GROWTH 2006 - 2017

54%

17%

9%

9%

6%

3% 2%

Asia

Europe

Middle East-Indian Sub-Continent North America

Latin America

Africa

Oceania

743

Million

TEUs

Asia growing at 5.8%, outpacing global

growth of 4.9% between 2006 to 2017

Asia accounting for 54% of global

container throughput for 2017

Impact of potentially untapped markets and

a rising middle class in Asia

Growth rate of container rate throughput has risen 4.9% globally since 2006-2017, with most contribution from Asia (60%) as an impact of

potentially untapped markets and a rising middle class

4.9%

5.8%

6.6%

3.1%

2.3%

4.0%

6.2%

4.3%

World Asia Middle East - Sub

Continent

Europe North America

Latin America

Africa Oceania

REGIONAL CONTAINER THROUGHPUT MARKET

SHARE (2017)

A majority of inter-island trade and approximately 90% of

international trade is conducted via maritime transport’

0

5

10

15

2010 2011 2012 2013 2014 2015 2016

Positive economic conditions have led to Indonesia’s

throughput growth gaining further pace in 2017, with total

throughput volume estimated to have risen between 2016 and

2017 by 7.8% to about 14.8 million TEUs

GDP: CAGR

5.7%

Sea Toll Programme to support major

domestic sea lanes

Pendulum Nusantara system in an effort to

reduce high logistic costs.

State owned enterprise companies

(Pelindos) handling most of the container

volumes in Indonesia

PROMINENT ASIA MARKET

ASIA DRIVING GLOBAL CONTAINER GROWTH

FAVOURABLE MARKET CONDITIONS IN INDONESIA

INTER-ISLAND CONNECTIVITY INDONESIA CONTAINER THROUGHPUT GOVERNMENT INITIATIVES

Million TEUs

Source: Drewry Maritime Research Source: Drewry Maritime Research Source: Drewry Maritime Research

Source: Drewry Maritime Research

Source: Drewry Maritime Advisors

MARKET OVERVIEW

14

INDUSTRY OVERVIEW

7% 4%

4%

23%

41%

21%

Belawan Makasar Tanjung Emas Other Tanjung Priok Tanjung Perak

INDONESIA TOP 10 CONTAINER PORTS - 2017

PELINDO MARKET SHARE 2010 - 2017

OTHERS

• Banjarmasin 2.8%

• Teluk Lamong 3.3%

• Pontianak 1.9%

• Samarinda 1.5%

• Bitung 1,5%

• Remaining (each <0.2 MTEu)

12.0%

14.8

Million

18

16

14

12

10

8

6

4

2

0

11.3 12.1 13.1 14.0 14.0 13.0 13.7 14.8

2010 2011 2012 2013 2014 2015 2016 2017

45.5% 48.8% 49.3% 50.9% 48.9% 45.4% 45.3% 46.7%

31.7% 29.7% 30.1%

29.6% 31.0% 33.5% 33.6%

33.2% 15.5%

7.5%

13.0% 12.2% 12.8%

13.5% 13.4% 12.4%

14.0%

7.5%

7.6% 7.3% 7.3%

7.6% 7.8% 7.7%

Pelindo I

Pelindo IV

Pelindo III

Pelindo II

Collaboration of four Pelindo companies in an effort to reduce high

logistic costs.

Strong domestic economic and trade development, geographic reliance on maritime transport, and stimulus packages from the Government

could support port industry in Indonesia to grow further

PENDULUM NUSANTARA

Develop a more efficient domestic shipping network between six of

Indonesia’s major ports (Belawan, Batam, Tanjung Priok, Tanjung Perak,

Makassar and Sorong) by upgrading these port facilities and increasing

their water depth

Allows larger vessels to be deployed, which in turn would significantly

reduce shipping costs and boost domestic trade

Support major domestic sea lanes with well-developed ports through a

“hub and feeder model”

SEA TOLL PROGRAMME

Provide for more efficient cargo loading and unloading services for

vessels as well as achieve a more balanced distribution of national

development resources across regions in Indonesia

Ensuring adequate dredging and access channel to support Panamax

vessels and improving the draft of feeder ports

Source: Pelindo I, II, III, IV, Drewry Maritime Advisors

Source: Drewry Maritime Advisors

KEY CREDIT HIGHLIGHTS


III


16

INVESTOR PRESENTATION

1 Leading market position in high growth

Indonesian market with high barriers to

entry

2 Strategically located ports

serving the fast growing

hinterland

3 Longstanding and diverse customer base

across geographies and industries

4 Established Port Operator Recognized

for Operational Performance

5 Strong Support from the

Government

6 Robust Financial Profile

7 Reputable and Experienced

Management

Leading Market Position in the Central and Eastern Indonesia

1. Leading market position in high growth Indonesian

market with high barriers to entry (1)


CONTAINER

Market Share

LIQUID BULK

Market Share

DRY BULK

Market Share

GENERAL CARGO

Market Share

CONTAINER TRAFFIC INDONESIA MARKET SHARE OF PELINDO COMPANIES FOR 2017 (2) GDP INDONESIA, CONSTANT PRICES (Rp Quadrillion)

8%

47% 33%

12%

PELINDO I PELINDO II PELINDO III PELINDO IV

99.8% 97.0% 75.5% 25.8%

5.74

6.16

6.45

6.86

7.29

7.73

8.16

8.56

8.98

9.43

5.39 2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

CAGR : 5.7%

International Domestic

2010

2011

2012

2013

2014

2015

2016

0 2 4 6 8 10 12 14

(1) Based on internal estimates and excluding private ports and non-commercial Government-owned ports

(2) Market share is based on container throughput volume

High Growth Country with Heavy Reliance on Maritime Transportation

17 Source: IMF – WEO Oct 2017 Source: Drewry Maritime Research Source: Drewry Maritime Advisors

1. Leading market position in high growth Indonesian

market with high barriers to entry (1)


Given the high barriers to entry and Pelindo III’s first mover advantage, it is well placed to maintain its position as the

largest port operator in Central and Eastern Indonesia

High barriers to entry for new entrants to gain a foothold in Pelindo III’s regional focus

Scarcity of sizeable coastal land

Process of obtaining licenses / permits

Significant capital expenditure with long lead time

Well-connected port network

Good relationships with key stakeholders

Developing a port requires large amounts of space, located in a maritime

environment with proximity to production or consumption areas

• Road / railway connections to the hinterland

• Gateway port / branch to disperse containers / cargo to domestic

ports throughout the region

• Obtaining government-issued licenses / permits for port operations

requires significant time

• Pelindo III enjoys several first mover advantages

New port opportunities are likely to be put up for tender

• Capital expenditure is required for port development / maintenance

including the acquisition of new equipment

• Construction of a port is a long-term project

• Pelindo III has established relationships with key stakeholders (many

of which are government related)

• Pelindo III’s expertise in the region well-positions them for any tender

opportunity

(1) Based on internal estimates and excluding private ports and non-commercial Government-owned ports. Excludes Western Java 18

2. Strategically located ports serving the fast growing hinterland

19


South Kalimantan – Banjarmasin

Surabaya – Tanjung Perak

Bali – Benoa

Other Branch Connectivity

• One of the largest cities in Kalimantan, capital of South Kalimantan

• Strong mining industry; benefits from the large quantities of coal and other

natural resources exported from resource-rich Kalimantan

• Real gross regional domestic product CAGR for Central Kalimantan: 6.7%

(2012 – 2016)

• 2nd largest city in Indonesia and the industrial /

manufacturing hub of Central Eastern Indonesia

• Gateway hub to Eastern Indonesia

• Second largest province by GDP, accounting for

14.8% of Indonesian GDP

• Strategically located near industrial areas, well

connected by developed toll road

• Real gross regional domestic product CAGR for East

Java: 5.7% (2012 – 2016)

• One of the 5 largest cities in Indonesia

• Fourth largest province by GDP, accounting for 8.9% of Indonesian GDP

• Strong economic growth supported by various industries relocating

from Jakarta

• Connectivity to good inland road networks and planned railway network

• Real gross regional domestic product CAGR for Central Java: 5.3%

(2012 – 2016)

• Key port in one of the most attractive tourist

destinations in Asia

• Ministry of Tourism supporting developing Benoa

into the largest cruise passenger terminal in

Indonesia

• Real gross regional domestic product CAGR for Bali:

6.5% (2012 – 2016)

• Most of the ports are connected to road and railway

network

• It allows us and our customers to avoid urban traffic

as well as efficient transportation of cargo in and out

of our ports

• In addition, some plans are made to provide more

connectivity to our ports:

Reactivation of Indro line at Kandangan railway station

in 2028 which will connect the new Teluk Lamong

Terminal to the national railway station.

Reactivation of a railway network to connect Tanjung

Emas to the national railway system

Local government of South Kalimantan is supporting

the development of infrastructure around Banjarmasin

Construction of a new railway line, for which we are in

negotiations with state-owned enterprise, PT Kereta Api

Indonesia, to collaborate and jointly develop, is

expected to directly connect and significantly reduce

traveling time between Duduk Sampeyan Station in

Gresik City to JIIPE Port

Semarang – Tanjung Emas

Pelindo III’s ports are strategically located in a number of the largest and fastest growing provinces in Indonesia

3. Longstanding and diverse quality customer base

across geographies and industries


Longstanding relationship with diverse customer base across industries and geographies, with high customer satisfaction

Strong Customer Diversity Various Industry Served International Container Destination

Key customers by service offering

Large Domestic Corporation Shipping Lines

Local

International

Industrial

Goods

Consumer

Goods Agriculture Oil and Gas

Mining Energy Infrastructure

SINGAPORE CHINA MALAYSIA

U.S SOUTH KOREA JAPAN

• Highly diversified customer base with low

concentration risk

o Largest customer – 20.0% of net revenue

o Top 10 customers – 23.4% of net revenue

• Diversity across vessel types, including dry bulk,

liquid bulk, container, tanker, passenger, etc

20

4. Established port operator recognized for operational and execution performance

21

LONG TRACK RECORD EFFICIENT OPERATION OPERATIONAL EXCELLENCE

57 Years of Experience

45 operational and non-operational

awards for excellence between 2015 and

2017

Window System Benefits:

• Traffic and Port Efficiency

• More predictable cargo time

• Reduced waiting and berthing time

• Reduced turnover voyage time

Advanced Terminal Operations Systems

for :

• Ship Planning

• Yard Planning

• Gate Control

• Yard Inventory

• Vessel Billing

• Management Control and Reporting

Surpasses DGST standard Maximum waiting time for domestic non-container

cargo

Automated Stacking Cranes


The highest award for good performance

at the annual BUMN Performance

Excellence Awards

The Zero Accident Award 2017 from

Badan Penyelenggara Jaminan Sosial

Employment

1

2

0.3 0.2

Tanjung Emas Banjarmasin

DGST Standards Pelindo III

(In hour)

5. Strong Support from the Government

22


Sea Toll Program

Port Development Program

Pelindo III’s linkages with the Government of Indonesia

Support major domestic sea lanes with well-developed ports

through a “hub and feeder model”

HUBS PORT

5 1 Wholly owned by the Government of Indonesia

2 The Ministry of State-Owned Enterprises appoints

Board of Commissioners and Board of Directors

3 Favorable government regulatory support

4 Closely aligned between company’s growth with the

Government’s strategic plan

Modernization of facilities and equipment

for the purposes of ensuring adequate

dredging and access channel to support

Panamax vessels and improving the draft of

feeder ports

19

1 4

TOTAL

PELINDO III

6. Robust Financial Profile

23


Our robust financial profile is supported by strong and stable cash flows and a strong capital structure

Net Revenue (Rp Billions) EBITDA Margin (%) NCOA(1) (Rp Billions)

(1) Net cash provided by operating activities

Outcome

1 Increase in revenue

2 Improve operating margins

3 Increase cash generating ability

Strategy

Expand our operations:

• Increasing capacity at our existing facilities

• Developing new ports

• Diversifying into other lines of business

Increase the operating efficiency:

• Clustering of services

• Modernizing facilities

Supported by:

1

2

Forecasted positive growth of Indonesia’s economy

Indonesia’s reliance on maritime transport

3,248

1,953 2,156 2,558

5,015

5,016 5,357 6,610

2,917 3,553

709 685

864

410 513

755 1,444

1,375

849 493


6,480 7,486

8,849

4,176 4,559

2015 2016 2017 1H 2017 1H 2018 2015 2016 2017 1H 2017 1H 2018 2015 2016 2017 1H 2017 1H 2018

42% 37%

46% 44% 45%

7. Reputable & experienced board & management

24


Board of Commissioners Board of Diretors

Hari Bowo President Commissioner

• Education: Indonesian Naval Academy

• Previous position: Vice Admiral and Deputy Chief of Staff of the Indonesian Navy

• Appointed to Pelindo III BoC in 2014

Zainal Abbidin Commissioner

• Education: Indonesia Military Academy

• Current position: President Commisioner of PT Kartanegara Energi Perkasa


Wahju Satrio Utomo Commissioner

• Education: Trisakti University (Bachelor), University of Indonesia (Masters),

University of Indonesia (Doctor)

• Current position: Head of Human Resources Development Division, the Ministry of

Transportation


Heddy Lugito Commissioner

• Education: Diponegoro University (Bachelor)

• Current position: Editor in Chief Gatra


I Gusti Ngurah Askhara Danadiputra President Director

• Education: Gadjah Mada University (Bachelor), University of Indonesia (Masters)

• Previous position: Director of PT Wijaya Karya (Persero)

• >20 years experience

Mohammad Iqbal Commercial and Operational Director

• Education: University of Diponegoro (Bachelor), Sekolah Tinggi Manajemen

(Masters)

• Previous position: CEO PT Samudera Golden Mitra

• c.20 years experience

Husein Latief Engineering & IT Director

• Education: Bandung Institute of Technology (Bachelor), IHE-Delft (Masters)

• Previous position: Commercial and Business Development Director, Pelindo III

• >25 years experience

Toto Heli Yanto HR & General Affairs Director

• Education: Merdeka Surabaya University (Bachelor), Airlangga University (Masters)

• Previous position: General Manager of Tanjung Perak


U. Saefudin Noer Finance Director

• Education: University of Indonesia (Bachelor & Masters)

• Previous position: Senior Vice President, CIMB Niaga


Dedi Syaruf Usman Commissioner

• Education: Parahyangan University (Bachelor), University of Colorado (Masters)

• Current position: Director of Separated State Asset, Ministry of Finance


FINANCIAL HIGHLIGHTS


IV

3,248

1,953 2,156 2,558

5,015

STRONG REVENUE GROWTH AND STABLE MARGINS

26


NET REVENUE OPERATING INCOME

EBITDA NET CASH FROM OPERATING ACTIVITIES

(Rp Billions)

(EBITDA in Rp Billions | EBITDA margin in %) (Rp billions)

(1) Operating Income Margin

(2) Profit for the Year Margin

2,229 2,084

3,173

1,394 1,543

34%

27%

35% 33% 33%

-

500

1,000

1,500

2,000

2,500

3,000

3,500

Operating Income

OIM(1)

2,739 2,806

4,088

1,828 2,061

42%

37%

46% 44% 45%

-

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

0.0

0.1

0.1

0.2

0.2

0.3

0.3

0.4

0.4

0.5

0.5

EBITDA

EBITDA Margin

5,016 5,357 6,610

2,917 3,553

709 685

864

410 513

755 1,444

1,375

849 493


4,559 4,176

8,849

7,486

6,480

2015 2016 2017 1H 2017 1H 2018 2015 2016 2017 1H 2017 1H 2018

2015 2016 2017 1H 2017 1H 2018 2015 2016 2017 1H 2017 1H 2018

1,359 932 1,082

5,016

2,618 1,816

2,751

4,755

8,488 9,821

11,281

15,034

HEALTHY BALANCE SHEET

27


TOTAL ASSETS

TOTAL DEBT (1) NET CURRENT ASSETS

(Rp Billions)

(Rp Billions) (Rp Billions)

NET CASH

(Rp Billions)

(1) Intereset Bearing Debt

2015

Assets

Net Current

Assets

2015

Debt

2015 2016 2017

Net Cash

1H2018

18,971 22,182

25,409 28,712

2016 2017 1H 2018

2016 2017 1H 2018 2015 2016 2017 1H 2018

RESILIENT CREDIT METRICS & PRUDENT DEBT MANAGEMENT

28


NET DEBT/EBITDA NET DEBT/EQUITY

EBITDA/FINANCE CHARGES DEBT PROFILE (1)

Net Debt/Equity Net Debt/EBITDA

2015

6.9x

EBITDA/Finance

Charges

(Rp Billions)

(1) As of 30 June 2018

(2) Current Maturity of Long Term Liabilities

2015 2016 2017 1H 2018

0.8x 0.8x 0.8x

0.9x

5.9x

2016 2017

6.8x

1H 2017 1H 2018

5.4x

6.3x

2015 2016 2017 LTM 2018

2.1x 2.1x

2.9x

3.8x

- 175 601

14,258

Short Term

Bank Loan

CMLTM (2) Long Term

Bank Loan

Bonds

Payable

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INVESTOR UPDATE - pelindo.co.id · Pelindo III is a leading port operator in Indonesia, serving the fast growing regions of Central and Eastern Indonesia, focusing on both the domestic