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2
Total
107.4 Mio Ton
Domestic Capacity 2017
2017
SMGR market share 2017 was 40.8% despite of only 33.4% capacity share
Cement Companies in Indonesia
3 source: company data, Indonesia Cement Association
Sales Volume (in Ton)
Semen Indonesia Group
Industry - Domestic
4
BAG 72.5%
BULK 27.5%
BAG 74.5%
BULK 25.5%
Domestic Demand SMGR Sales
Retail (residential) sector is still the largest consumer of cement in Indonesia
Bulk cement growth is higher than bag cement in the last two years.
SMGR bag sales grew 1% in 2017 and 19% for bulk sales.
source: Indonesia Cement Association
Domestic and SMGR’s Market Consumption (2017)
– Type of Cement
Housing: ± 90% Cement based industry: ±10%
Ready-mix (infrastructure): ± 60% Fabricator (pre-cast, fiber cement,
cement based industry): ± 35% Projects (mortar, render): ± 5%
3,6% 2,5%
1,5% -1,4%
5,5%
13,6% 15,5%
2,2% 2,0%
14,5%
2013 2014 2015 2016 2017
Bag Bulk
5
Infrastructure Development
Commercial & Industrial
High growth in retail, commercial and institutional sector in urban and semi-urban area
High growth industry segment (precast, light brick, cement fiber, pave, ready mixed concrete)
Potential Market
The fourth largest population in the world: 267 millions people (2017)
Demographic bonus: rapidly growing productive population in Indonesia
Cement Consumption per Capita (2016)
Interest Rate
Average (ex China) = 462 kg
155,9 154,7
256,1 269,1
388,3 410,4
2013 2014 2015 2016 2017 2018
Source: Ministry of Finance
7,50 7,50 7,50 7,50
6,75
5,25 5,00
4,75 4,50 4,50
4,25 4,25
Mar 15
Jun 15
Sep 15
Des 15
Mar 16
Jun 16
Sep 16
Des 16
Mar 17
Jun 17
Sep 17
Des 17
Continuous increase in infrastructure budget
BI policy on interest rate is expected to remain low which drives demand for housing loan LTV Policy
Bank Indonesia loosening macro-prudential policies in the form of an increase in Loan to Value Ratio
6
Strategic Projects (2017)
Strategic Projects Capacity Investment Construction Start up commercial
Start Completion
Packing Plant – North Maluku 500,000
ton/year
300,000 (bags)
200,000 (bulk)
IDR 66 Bio January 2017 Q1-2018 Q2-2018
Packing Plant – Bengkulu IDR 75 Bio February 2017 Q1–2018 Q2-2018
Waste Heat Recovery Power
Generation (WHRPG)
– Tuban Plant
30.6 MW IDR 574 Bio Q2-2016 Q1-2018 Q2-2018
Packing Plant - Bengkulu Packing Plant – North Maluku
Waste Heat Recovery Power Generation (WHRPG) – Tuban Plant
7
Integrated Cement Plant 5 location
Kiln 17 Unit
Cement Mill 29 Unit
Grinding Plant 4 location
Cement Mill 6 Unit
Warehouse 30 location
Packing Plant 30 location
Sea Port 17 location
Kiln 1 unit
Cement Mill 1 unit
Kiln 6 unit
Cement Mill 9 unit
Kiln 5 unit
Cement Mill 11 unit
Grinding Plant
1 unit Cement Mill
Kiln 4 unit
Cement Mill 6 unit
Grinding Plant
3 unit Cement Mill
Our facilities
Grinding Plant
1 unit Cement Mill
Grinding Plant
1 unit Cement Mill
Kiln 1 unit
Cement Mill 2 unit
9
Financial Summary – 2017
7,06 7,15 5,98
5,20 3,34
28,8% 26,5%
22,2% 19,9%
12,0%
2013 2014 2015 2016 2017
Operating Profit
Operating Profit Operating Profit Margin
5,37 5,56 4,56 4,52
2,01
21,9% 20,6% 16,9% 17,3%
7,2%
2013 2014 2015 2016 2017
Net Profit
Net Income Net Income Margin
8,10 8,30 7,43 6,96 5,40
33,1% 30,8% 27,5% 26,6%
19,4%
2013 2014 2015 2016 2017
EBITDA
EBITDA EBITDA Margin
10
Balance Sheet
Cash Balance (IDRbn) Total Interest Bearing Debt (IDRbn)
Debt/EBITDA (x) Net Debt/Equity
4.213
5.032
3.989
2.847
3.665
2013 2014 2015 2016 2017
4.083 3.913 3.999
6.260
10.019
2013 2014 2015 2016 2017
0,50 0,47 0,54
0,93
1,93
2013 2014 2015 2016 2017
-0,60% -0,45% 0%
11,10%
20,80%
2013 2014 2015 2016 2017
12
Value Chain Semen Indonesia
UP STREAM MID STREAM DOWN STREAM
Raw Material Mining
UNITED
TRACTOR
SEMEN
GRESIK
Coal Trading SGG
ENERGI
PRIMA
Packaging
INDUSTRI
KEMASAN
SEMEN
GRESIK
Clinker
&
Semen
SG,
SP,
ST,
TLCC
SEMEN
INDONESIA
BETON
Blast Furnace Slag
(GGBFS)
KRAKATAU
SEMEN
INDONESIA
BUILDING
MATERIAL
Semen Indonesia
INDUSTRI
BANGUNAN
SUPPORTING
Logistic & Distribution
Semen
Indonesia
LOGISTIK
Construction & Fabrication
SWADAYA GRAHA
Information Technology
SINERGI INFORMATIKA SEMEN INDONESIA
Labor Supply & Travel
SWABINA GATRA
Industrial Estate
KAWASAN INDUSTRI GRESIK
Ready Mixed
Concrete
Precast
Cement Based
Non Cement
Based
Aggregate
Trading
SEMEN INDONESIA INTERNATIONAL
Cement Based MORTAR, FIBER CEMENT, BOARD
KOPERASI
WARGA
SEMEN
GRESIK
SEMEN
INDONESIA
DISTRIBUTOR
14
IMPORTANT NOTICE
THIS PRESENTATION IS NOT AND DOES NOT CONSTITUTE OR FORM PART OF, AND IS NOT MADE IN CONNECTION WITH, ANY OFFER FOR SALE OR SUBSCRIPTION OF OR SOLICITATION, RECOMMENDATION OR INVITATION OF ANY OFFER TO BUY OR SUBSCRIBE FOR ANY SECURITIES NOR SHALL IT OR ANY PART OF IT FORM THE BASIS OF OR BE RELIED ON IN CONNECTION WITH ANY CONTRACT, COMMITMENT OR INVESTMENT DECISION WHATSOEVER.
THE SLIDES USED IN THIS PRESENTATION ARE STRICTLY CONFIDENTIAL AND HAVE BEEN PREPARED AS A SUPPORT FOR ORAL DISCUSSIONS ONLY. THE INFORMATION CONTAINED IN THIS PRESENTATION IS BEING PRESENTED TO YOU SOLELY FOR YOUR INFORMATION AND MAY NOT BE REPRODUCED OR REDISTRIBUTED TO ANY OTHER PERSON, IN WHOLE OR IN PART.
This presentation includes forward-looking statements, which are based on current expectations and forecast about future events. Such statements involve known / unknown risks uncertainties and other factors, which could cause actual results to differ materially from historical results or those anticipated. Such factors include, among others:
● economic, social and political conditions in Indonesia, and the impact such conditions have on construction and infrastructure spending in Indonesia;
● the effects of competition;
● the effects of changes in laws, regulations, taxation or accounting standards or practices;
● acquisitions, divestitures and various business opportunities that we may pursue;
● changes or volatility in inflation, interest rates and foreign exchange rates;
● accidents, natural disasters or outbreaks of infectious diseases, such as avian influenza, in our markets;
● labor unrest or other similar situations; and
● the outcome of pending or threatened litigation.
We can give no assurance that our expectations will be attained.
DISCLAIMER
The information contained in this report has been taken from sources which we deem reliable. However, none of PT Semen Indonesia (Persero) Tbk and/or its affiliated companies and/or their respective employees and/or agents make any representation or warranty (express or implied) or accepts any responsibility or liability as to, or in relation to, the accuracy or completeness of the information and opinions contained in this report or as to any information contained in this report or any other such information or opinions remaining unchanged after the issue thereof.
We expressly disclaim any responsibility or liability (express or implied) of PT Semen Indonesia (Persero) Tbk, its affiliated companies and their respective employees and agents whatsoever and howsoever arising (including, without limitation for any claim, proceedings, action, suits, losses, expenses, damages or costs) which may be brought against or suffered by any person as a result of acting in reliance upon the whole or any part of the contents of this report and neither PT Semen Indonesia (Persero) Tbk, its affiliated companies or their respective employees or agents accepts liability for any errors, omission or mis-statements, negligent or otherwise, in the report and any liability in respect of the report or any inaccuracy therein or omission therefrom which might otherwise arise is hereby expresses disclaimed.
Thank You
Head Office:
Gedung Utama Semen Indonesia Jalan Veteran, Gresik 61122, East Java – Indonesia
Phone: (62-31) 3981731 -2, 3981745 Fax: (62-31) 3983209, 3972264
Representative Office: The East Tower, 18th floor Jalan Dr. Ide Anak Agung Gde Agung Kav. E3.2 No. 1 Jakarta 12950, Indonesia Telp.: (62-21) – 5261174, 5261175; Fax : (62-21) – 5261176
www.semenindonesia.com