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Corporate PresentationApril 2020
PT Semen Indonesia (Persero) Tbk.
2
Milestones
1. PT Semen Indonesia (Persero) Tbk., previously known as PT Semen Gresik (Persero) Tbk. WAS established on 7 August 1957.
2. Publicly listed in IDX since 1991.
3. Consolidated with PT Semen Padang (Persero) and PT Semen Tonasa (Persero) in 1995.
4. Acquired Thang Long Cement Company (TLCC) Vietnam in 2012.
5. Acquired PT Holcim Indonesia in 2019.
53 Million tones p.a of designed cement production capacity
#1 largest cement producer in the ASEAN region
53% market share in Indonesia (Up to April 2020)
9 Integrated cement plants in 7 locations in Indonesia and 1 in Vietnam
Facts
3
4
SILOG
• Sea & Land Transportation• Loading & Unloading• Port Management
• Cement distribution, • Other building
material distribution
Inbound MaterialsClinker & Cement Production
Transportation DistributionDownstream Business
Others
UTSG
• Mining Contractors (limestone & clay)
IKSG
• Packaging from kraft & woven , especially for cement packaging
KSI
• GBFS• GGBFS
SG,ST,SP, SBI*
• Clinker and Cement production in Indonesia
SII
• Cement & clinker trading
SIB, SBB**
• Ready Mix• Precast
SMI
• Property• Building management • Preparation of cement
raw material mining.
SIIB
• Investment management (SBI)
KIG
• Industrial estate
SISI
• IT servicesTLCC
• Clinker & cemen production in Vietnam
Notes: * Subsidiary under SIIB, ** Subsidiary under SBI
5
SoekarwoChairman
RUPS 22 Mei 2019Hendrika Nora OS
CommissionerAGMS 30 April 2018
Nasarudin UmarIndependent
CommissionerAGMS 31 March 2017
Mochamad CholiqIndependent
CommissionerAGMS 30 April 2018
Lydia Silvanna DjamanCommissioner
AGMS 22 May 2019
Sony SubrataCommissioner
AGMS 23 January 2015
Astera PrimantoCommissionerAGMS 31 March 2017
Hendi Prio SantosoPresident Director
AGMS 15 September 2017
Doddy Sulasmono DDirector of Finance
AGMS 15 September 2017
Adi MunandirDirector of Marketing &
Supply ChainAGMS 30 April 2018
Benny WendryDirector of Production
AGMS 15 September 2017
Fadjar JudisiawanDirector of Business
Strategy & DevelopmentAGMS 15 September 2017
Tri AbdisatrijoDirector of Engineering &
ProjectAGMS 15 September 2017
Tina T Kemala IntanHR & Legal DirectorAGMS 22 Mei 2019
Board of Commissioners Board of Directors
6
Installed Capacity
2019
35.5 Semen Indonesia
25.5 Indocement
15.5 Solusi Bangun Indonesia (ex-Holcim)
8.7 Conch Cement Indonesia
7.7 Semen Merah Putih (Cemindo Gemilang)
7.4 Semen Bosowa
3.9 Semen Baturaja
1.8 Semen Garuda (Jui Shin Indonesia)
1.8 Semen Jawa (Siam Cement Group)
1.8 Semen Bima (PT STAR)
0.4 Semen Kupang
3.1 Others (non ASI members)
Design Capacity113.1 MT (2019)
Production Volume76.1 MT
Domestic Growth0.34%
Domestic Utilization67%* Domestic: 69.8 MT Export: 6.4 MT
*Based on Indonesia Cement Association recorded national capacity and production volume 2019
Total 2019:113.1 Mio Ton
7
source: Indonesia Cement Association
source: Indonesia Cement Association
Bag cement still represent the largest portion of Indonesia cement consumption
YTD April 2020
Domestic Sales in Java v.s. Outside of Java
18.9 21.5 24.6 25.3 26.2 27.5 28.2 28.9 30.5 30.9
21.9 26.5
30.3 32.6 33.7 34.5 33.4 37.4 39.0 38.9
-5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
-
10.0
20.0
30.0
40.0
50.0
60.0
70.0
80.0
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Outside Java Java Growth
source: Indonesia Cement Association
34.2 39.2 44.1 45.7 46.9 47.5 46.8 49.4 50.8 51.0
11.1
6.68.8
10.8 12.2 13 14.5 14.816.9 18.8 18.7
3.8
-15.0%-10.0%-5.0%0.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0%
0
10
20
30
40
50
60
70
80
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 1Q '20
Cement demand growth was dominated by the growth of bulk cement to support infrastructure projects
Bag Vol Bulk Vol Growth Bag Growth Bulk Bulk Portion
in million ton
in trillion IDR
in million ton
75,14%
24,86%BULK
BAG
86 114
146
184 178
290
317
388 410 415 419
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
8
YTD April 2020
9
53,4%
25,6%
5,9%3,6% 3,0% 3,0% 1,7% 2,0% 1,4% 0,4%
SMGR(SMIG +
SBI)
INTP Conch Bosowa MerahPutih
Baturaja Jui Shin SiamCement
STAR SemenKupang
Market Sharesource: Indonesia Cement Association
FY 2019 YTD April 2020
53,0%
25,5%
6,7%3,1% 2,9% 2,6% 2,2% 2,1% 1,5% 0,3%
SMGR(SMIG +
SBI)
INTP Conch Bosowa MerahPutih
Baturaja Jui Shin SiamCement
STAR SemenKupang
Market Share
10
Semen Indonesia Group Sales Volume Industry
source: Indonesia CementAssociation
* Total Group (SMGR) January 2019 excluding SBI sales volume** One small player not updated yet in April 2020
2020 2019 YoY (%) 2020 2019 YoY (%) 2020 2019 YoY (%)
Semen Indonesia(include SBI)
Domestic 2,490,257 2,750,342 -9.46% 2,419,221 2,516,121 -3.85% 10,291,515 10,034,501 2.56%Export 389,072 277,489 40.21% 440,869 325,285 35.53% 1,461,477 1,153,970 26.65%
2,879,329 3,027,832 -4.90% 2,860,091 2,841,406 0.66% 11,752,992 11,188,471 5.05%TLCC
Domestic 153,670 131,508 16.85% 133,444 117,301 13.76% 437,165 369,547 18.30%Export 65,450 2,033 3119.00% 66,722 87,300 -23.57% 239,151 240,450 -0.54%
219,120 133,541 64.08% 200,166 204,601 -2.17% 676,316 609,997 10.87%Total Group (SMGR)* 3,098,449 3,161,373 -1.99% 3,060,256 3,046,007 0.47% 12,429,308 11,798,468 5.35%
MARCH APRIL Year to DateDESCRIPTION
2020 2019 YoY (%) 2020 2019 YoY (%) 2020 2019 YoY (%)
Jakarta 288,471 252,376 14.30% 200,709 226,995 -11.58% 985,371 981,803 0.36%Banten 237,565 269,064 -11.71% 188,940 265,279 -28.78% 918,695 1,078,125 -14.79%West Java 811,278 908,929 -10.74% 734,140 840,151 -12.62% 3,258,900 3,577,788 -8.91%Central Java 539,181 597,674 -9.79% 633,857 619,438 2.33% 2,349,964 2,482,806 -5.35%Yogyakarta 70,799 138,971 -49.05% 73,362 140,131 -47.65% 300,468 526,147 -42.89%East Java 610,945 674,999 -9.49% 580,989 625,598 -7.13% 2,600,359 2,745,891 -5.30%
Total Java 2,558,239 2,842,012 -9.98% 2,411,997 2,717,591 -11.25% 10,413,757 11,392,559 -8.59%Sumatra 1,054,701 1,042,230 1.20% 1,077,047 1,002,668 7.42% 4,242,916 4,244,611 -0.04%Kalimantan 299,715 355,122 -15.60% 277,970 313,506 -11.33% 1,284,207 1,387,892 -7.47%Sulawesi 448,418 464,926 -3.55% 394,018 390,719 0.84% 1,730,782 1,726,549 0.25%Nusa Tenggara 295,415 323,918 -8.80% 223,008 289,677 -23.01% 1,066,701 1,206,968 -11.62%East Indonesia 160,785 138,004 16.51% 129,695 102,202 26.90% 679,110 531,260 27.83%
Total Indonesia 4,817,272 5,166,212 -6.75% 4,513,735 4,816,363 -6.28% 19,417,474 20,489,840 -5.23%Export Cement 55,769 111,065 -49.79% 19,300 115,052 -83.22% 214,375 431,207 -50.28%Export Clinker 512,192 454,877 12.60% 568,819 543,441 4.67% 1,760,399 1,648,904 6.76%
Total Export 567,961 565,942 0.36% 588,119 658,493 -10.69% 1,974,774 2,080,110 -5.06%Grand Total** 5,385,233 5,732,154 -6.05% 5,101,855 5,474,856 -6.81% 21,392,247 22,569,950 -5.22%
YEAR TO DATEAREA
MARCH APRIL
11
TUBAN PLANTCap SI: 14,7 Mt/YrCap LHI : 3,6 Mt/YrPort : 40.000 DWT
INDARUNG PLANTCap : 9,4 Mt/Yr
GP Dumai
GP Gresik
PP Lhoksumawe
PP Malahayati
PP Batam
Tl Bayur Port
PP Lampung
PP Pontianak
PP Samarinda
PP Banjarmasin
PP Balikpapan
PP Bitung
PP Palu
PP Mamuju
Biringkassi Port
PP Makassar
PP Kendari
PP Sorong
PP Ambon
PP Banyuwangi
PP Celukan Bawang
PANGKEP PLANTCap : 7,4 Mt/Yr
PP Belawan
PP Tj PriokPP Ciwandan SI
PP Maluku Utara
GP Ciwandan
PP Bengkulu
REMBANG PLANT
Cap : 3 Mt/Yr
NAROGONG PLANTCap : 6 Mt/Yr
CILACAP PLANTCap : 3,4 Mt/Yr
PP Lhoksumawe
PP Belawan
PP Pontianak
PP Dumai
PP Batam
GP Kuala Indah
PP Lampung
GP CigadingPP Ciwandan SP
LHOKNGA PLANTCap : 1,8 Mt/Yr
Source: Internal SMIG
12
Q1 2020 Q1 2019 Chg YoY
(a) (b) (a:b)
Revenue 8,580 8,127 5.6%Cost of Revenue 5,876 5,913 -0.6%Gross Profit 2,704 2,214 22.2%Operating Expense 1,430 1,122 27.5%Operating Income 1,274 1,092 16.7%EBITDA 2,022 1,611 25.5%Finance Income (Cost) (552) (637) -13.4%Profit Before Tax 713 454 56.9%Net Profit Attributable to Owners of Parent Entity 446 268 66.5%Margin
Gross Profit Margin 31.5% 27.2% 4.3%Operating Profit Margin 14.9% 13.4% 1.4%EBITDA Margin 23.6% 19.8% 3.7%Net Profit Attributable to Owners of Parent Entity Margin 5.2% 3.3% 1.9%
RatiosROE 5.3% 3.4% 1.9%Net Debt to Equity 77.1% 82.8% -5.7%Debt to EBITDA (x) 3.2 4.7 -1.6EBITDA/Interest (x) 3.7 2.4 1.3
in billion IDR
13
26.948 26.134 27.814 30.688
40.368
8.580
-0,1% -3,0%
6,4%10,3%
31,5%
5,6%
-10,0%
0,0%
10,0%
20,0%
30,0%
40,0%
50,0%
-
5.000
10.000
15.000
20.000
25.000
30.000
35.000
40.000
45.000
2015 2016 2017 2018 2019 1Q 2020
Revenue Revenue Growth
10.646 9.856 7.960
9.331
12.714
2.704
39,5% 37,7%
28,6% 30,4% 31,5% 31,5%
20,0%
25,0%
30,0%
35,0%
40,0%
45,0%
50,0%
55,0%
60,0%
-
2.000
4.000
6.000
8.000
10.000
12.000
14.000
2015 2016 2017 2018 2019 1Q 2020
Gross Profit Gross Profit Margin
7.473 6.962
4.904
6.577
8.699
2.022
27,7% 26,6%
17,6%21,4% 21,5% 23,6%
10,0%
20,0%
30,0%
40,0%
50,0%
60,0%
-
1.000
2.000
3.000
4.000
5.000
6.000
7.000
8.000
9.000
10.000
2015 2016 2017 2018 2019 1Q 2020
EBITDA EBITDA Margin
4.521 4.522
1.621
3.079 2.392
446
16,8% 17,3%
5,8%10,0%
5,9% 5,2%
0,0%
5,0%
10,0%
15,0%
20,0%
25,0%
30,0%
35,0%
40,0%
45,0%
50,0%
-
500
1.000
1.500
2.000
2.500
3.000
3.500
4.000
4.500
5.000
2015 2016 2017 2018 2019 1Q 2020
Net Profit Net Profit Margin
14
15
Thank YouIMPORTANT NOTICE
THIS PRESENTATION IS NOT AND DOES NOT CONSTITUTE OR FORM PART OF, AND IS NOT MADE IN CONNECTION WITH, ANY OFFER FOR SALE ORSUBSCRIPTION OF OR SOLICITATION, RECOMMENDATION OR INVITATION OF ANY OFFER TO BUY OR SUBSCRIBE FOR ANY SECURITIES NOR SHALL IT ORANY PART OF IT FORM THE BASIS OF OR BE RELIED ON IN CONNECTION WITH ANY CONTRACT, COMMITMENT OR INVESTMENT DECISION WHATSOEVER.
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.
16
@semenindonesia Semen Indonesia Semen Indonesia @semenku
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