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PT. ABM INVESTAMA TBK
Q1 Result – Company Presentation
Jakarta, May 2013
Overview of Tiara Marga Trakindo Group
— Established in 1970, Trakindo was
founded by AHK Hamami
— Trakindo became the sole authorized
dealer for Caterpillar in 1971 and now
has more than 70 branches
— Over a 40 year period, Trakindo has
developed into one of the largest
national groups in Indonesia
Shareholder Value Addition
— Access to financial resources to
support growth plans
— Timely market intelligence and access
— TMT refers customers and is itself and
important customer to ABM
ABM Investama A Member of Tiara Marga Trakindo Group
Tiara Marga Trakindo Group Structure
PT Tiara Marga Trakindo Group (TMT)
PT. Chitra
Paratama
PT Tri Swardana
Utama
Others
PT Chakra Jawara
PT Mahadana
Dasha Utama
PT ABM
Investama
Tbk
PT Trakindo
Utama
PT Chandra
Sakti Utama
Leasing
2
PT. HD Finance
Tbk
ABM’s Five Strategic Business Units
Engineering
Services
Integrated
Logistics
Power
Solutions
Contract
Mining
Services
Coal
Production
• Established 2010
• 7,703 hectares
concession area
under 4 IUPs
• Estimated coal
reserves and
resources of 221 and
561 million tons,
respectively
• Employees: 361
• Established 1997
• Fleet of 602 heavy
equipment serving 9
customers as of Mar
31, 2013
• Backlog Overburden
660 million bcm and
36 million tons, as of
Mar , 2013
• Employees: 3,324
• Established 1992
• Approximately 833
gensets (1010 MW
capacity) by Mar 31,
2013
• Manages more than
90 diesel power
generation projects in
Indonesia
• Employees: 1,624
• Established 1997
• Operates fleet of
vessels, trucks,
loaders and dry
containers
• Provides coal logistics,
freight forwarding and
project logistics
• 35 branches and
offices located
throughout Indonesia
• Employees: 713
• Established 1977
• 10 engineering
services workshops
providing fabrication,
remanufacturing,
transport equipment
and site services
• Customers mainly in
mining, oil and gas,
petrochemical and
power sectors
• Employees: 2,606
3
4
ABM Group and Shareholding Structure
Coal production;
Sub-Holding for
BEL and Mifa
PT Cipta
Kridatama (“CK”)
Contract Mining
99.99%
PT Sumberdaya
Sewatama (“SS”)
Power solutions
99.98%
PT Cipta Krida Bahari
(“CKB”)
Integrated logistics
99.99%
PT Sanggar Sarana
Baja (“SSB”)
Engineering services
99.96%
Sub-Holding for
thermal energy IPP
PT Pradipa
Aryasatya (“PAS”)
99.9%
Sub-Holding for
renewable energy
IPP
PT Nagata Bisma
Shakti (“NBS”)
99.9%20%
Coal logistics
PT Baruna Dirga
Dharma (“BDD”)
99.9%
Shipping
PT Alfa Trans
Raya (“ATR”)
99.99%
Valle Verde Pte. Ltd. PublicPT Tiara Marga Trakindo (“TMT”)
23.12% 55% 21.88%
99.98%
IPP
PT Metaepsi Pejebe Power
Generation (“Meppogen”)
General trading
PT Prima Wiguna
Parama (“PWP”)
PT Reswara Minergi Hartama
(“Reswara”)
Coal production
PT Bara Energi
Lestari (“BEL”)
Coal production
PT Mifa Bersaudara
(“Mifa”)
Coal production
99.99%
70.0%99.99%99.99%
99.99% 99.99%
Coal
production
PT Tunas Inti
Abadi (“TIA”)
Port operator &
management
PT Pelabuhan Buana
Reja (“PBR”)
PT Media Djaya
Bersama (“MDB”)
PT Enegi Alam
Semesta (“EAS”)
Thermal energy IPP
PT Nagata Dinamika
Renewable energy
IPP
51% 70%
CK: Contract Mining Project Sites
CKB: Integrated LogisticsOffices
SSB: Engineering Services Main Operating Sites
BATAM
PADANG
PEKANBARU
DURI
MEDAN
JAMBI
PALEMBANG
PONTIANAK
PANGKALANBUN
BANJARMASIN
SATUI
BATULICIN
MAKASSAR
SOROAKO
TARAKAN
AMBON
SORONG
BATU HIJAU
MATARAM
DENPASAR
LAMONGAN
SURABAYA
JAKARTA
MANADO
TANJUNG ADARO
SANGATTA
BATUKAJANG
TIMIKA
BANDA ACEH
BALIKPAPAN
SAMARINDA
TERNATE
TANGERANG
GRASBERG
KUALA KENCANA
BONTANG
AIR MUNING MUKO-MUKO
MANGKAL API
SUNGAIDANAU
SUNGKAI
KOTA BANGUNJONGGON
KUTAIKERTANEGARA
SANGA-SANGA
— Able to operate throughout the country; competitive advantage over competitors
— Difficult to replicate coverage strength and poses barriers to entry for new entrants
BENGALON
Comprehensive Footprint and Market Coverage in Indonesia
5
SS: Power Solutions Services
ABMM Business Update and Overview
• August 29, 2012 Sewatama announced 70% acquisition of independent power plant company
PT Energi Alamraya Semesta (EAS). PT Pradipa Aryasatya, a Sewatama subsidiary served as a
vehicle for the acquisition worth of US$7 million.
• November 22, 2012 – PT Tunas Inti Abadi (TIA) secured an additional 3 million metric tons under
its coal sales contract with AVRA Commodities for the next five years; effectively upping the total
deal to 18 million metric.
• December 18, 2012 –PT Cipta Kridatama (Cipta Kridatama) secured a US$ 396 million contract
for mining services with PT Tunas Muda Jaya (TMJ) for the next five years
• January 28, 2013 PT Media Djaya Bersama (MDB), has secured coal sales with PT Lafarge
Cement Indonesia (Lafarge), amounting maximum of 255,000 metric tons in year 2013
• March 14, 2013 – PT Reswara Minergi Hartama receives loan as much as US$150 million from
Qatar National Bank (QNB), PT Bank QNB Kesawan Tbk (QNBK) and Indonesian Export Financing
Institution (Indonesia Eximbank).
• Mar 18, 2013, PT Cipta Kridatama (CK), sign a five-year contract worth of US$ 225 million with
PT Realita Jaya Mandiri (RJM). The coal mining contract in Musi Banyuasin, South Sumatera
6
Q1 2013
ABM’s Five SBU
Operational & Financial Performance
7
8
Coal Production at TIA, South Kalimantan
9
Barge Conveyer at TIA
10
451.6
392
506.4
Jan-13 Feb-13 Mar-13
TIA Coal Sales ( 000 tons coal)
363.5358
411.5
Jan-13 Feb-13 Mar-13
TIA Coal Production (000 ton coal)
Q1 2013 TIA coal Sales : 1.350,000 ton coal Q1 2013 TIA Coal Production : 1.133.000 ton coal
TIA: Coal Sales and Production
7|414
21|507
7|919
Jan-13 Feb-13 Mar-13
MIFA Prod (ton coal )
11
11|572
5|797
9|455
Jan-13 Feb-13 Mar-13
BEL Prod (ton coal)
Q1 2013 MIFA coal Prod: 36,840 ton coal Q1 2013 BEL Coal Prod : 26,824 ton coal
MDB: MIFA and BEL Production (Aceh)
3.4
3
3.3
4.5 4.5 4.5
0
0.5
1
1.5
2
2.5
3
3.5
4
4.5
5
Jan-13 Feb-13 Mar-13
TIA SR
SR (Act) SR (Std)
12
37.537.8 37.6
32.2 3232.5
Jan-13 Feb-13 Mar-13
TIA ASP & Cash Cost
TIA ASP TIA Cash Cost
TIA: OB and SR
13
827
1|413
Q1 2012 Q1 2013
Reswara Sales (mn tons coal)
70.8%17.47
15.49
19.77
Jan-13 Feb-13 Mar-13
Revenue (mn USD)
Reswara Revenue Q1 2013 : USD 52.7 mn
TIA: ASP and Cash Cost
14
TIA: Sales Distribution 2012-2013
20.00 $
25.00 $
30.00 $
35.00 $
40.00 $
45.00 $
50.00 $
55.00 $
60.00 $
65.00 $
70.00 $
75.00 $
80.00 $
85.00 $
90.00 $
95.00 $
100.00 $
105.00 $
110.00 $
115.00 $
120.00 $
125.00 $
130.00 $
135.00 $
140.00 $
12
-20
09
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-20
10
02
-20
10
03
-20
10
04
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10
05
-20
10
06
-20
10
07
-20
10
08
-20
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10
-20
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10
12
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10
12
-20
10
01
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02
-20
11
03
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04
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11
05
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06
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11
07
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08
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12
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01
-20
12
02
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03
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04
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05
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06
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12
07
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10
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11
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11
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12
12
-20
12
2011 2012
NEW
C
ICI4200
insert last 1 year
TIA
ICI 3400
BEL
MIFA
15
Coal Price: Index vs Reswara
695
1|179
2|163
4|665
6|000
-
1|000
2|000
3|000
4|000
5|000
6|000
7|000
FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 ( e)
Reswara Sales
16
Reswara: Historical Sales and Plan 2013
48.75
37.6
Q1 2012 Q1 2013
ASP
17
40.89
32.5
Q1 2012 Q1 2013
Cash Cost
25.8%
4.5
3.3
Q1 2012 Q1 2013
Stripping Ratio (SR)
22.82%
26.6%
TIA: ASP – Cash Cost - SR
MDB Project by Mar 2013:
1. Land Acquisition 72%
2. Port Construction 61%
3. Mining site 49%
18
Completion
Target
Q4 2013
MDB Project Update
19
TIA MDB Total
Coal Reserves
(MT)
Proved Reserves 13 7 20
Probable
Reserves
39 162 201
Total Reserves 52 169 221
Coal Resources
Measured 32 18 50
Indicated 39 289 328
Inferred 35 148 183
Total 106 455 561
Concession (Ha) 3,074 4,629 7,703
Total Resources: 561 Million Tons
Total Reserves: 221 Million Tons
* Based on Joint Ore Report Committee JORC Report
ABM Coal Reserve, Resources and Concession
20
Balikpapan
South Kalimantan
Central Kalimantan
Palangkaraya
Banjarmasin
Indonesia
Kalimantan
Tunas Inti Abadi Project Area
Balikpapan
South Kalimantan
Central Kalimantan
Palangkaraya
Banjarmasin
Indonesia
Kalimantan
Tunas Inti Abadi Project Area
TIA Site (South Kalimantan Province )PT Tunas Inti Abadi
• TIA was acquired in Dec 2007,
commenced commercial production in
Aug 2009 and coal sales in Oct 2009
• Coal mining is contracted to ABM
subsidiary, CK
• 25 km from pit to port at Bunati
• 9-12 km from port to anchorage
point at Bunati
• 8,000 ton barge loading capacity at
jetty
• 120,000 tons temporary pile facility
at the mining pit
• Logistic advantages: Close to the
Ocean
TIA: Demographic and Layout
21
PT Media Djaya Bersama
• 70% ownership in MDB
• To begin coal production in 2012
by using existing infrastructure
and begin construction of own
infrastructure in 2012
• Intends to sell coal to Indian
power plants for blending
• Logistic advantages: Close to the
Ocean – 12.3 km pit to port
• Plan to build land conveyer belt
for logistic
MDB Site (Aceh Province)
MDB: Demographic and Layout
22
TIA MDB
Calorific Value (Adb) 55-53k kcal/kg 53-51k kcal/kg
Caloric Value (GAR) 3,960 kcal/kg 3,440 kcal/kg
Total Moisture (AR) 37.4% 43.8%
Ash Content (Adb) 5.7% 4.6%
Sulfur (Adb) 0.15% 0.16%
Coal Characteristics
Entity
Concession
Holding Company
Type of
Concession Location
Current
Concession Area
(ha)
Expiry Date
of Current
Phase
TIA TIA IUP(1) South Kalimantan 2,355 Mar 16, 2021
TIA TIA IUP(1) South Kalimantan 719Mar 5,
2021
BEL BEL IUP(1) Aceh 1,495 Sep 26, 2017
Mifa Mifa IUP(1) Aceh 3,134 Apr 13, 2025
Concession Breakdown
Reswara: Coal Char and Concession
23
CK, The Contractor Mining
8|729
7|544 7|232
Jan-13 Feb-13 Mar-13
OB Removal (mn bcm)
24
OB Removal Q1 2013 : 23.5 mn bcm
28.1
23.5
Q1 2012 Q1 2013
OB Removal (mn bcm)
16.3%
OB Removal Q1 2013 vs Q1 2012
25
1|174
955
1|273
Jan-13 Feb-13 Mar-13
Rental Services (mn ton coal)
Rental Services Q1 2013 : 3.3 mn coal
2.46
3.3
Q1 2012 Q1 2013
Rental Service (mn ton coal)
34.1
Rental Service
32.44
26.89
37.08
Jan-13 Feb-13 Mar-13
Revenue (mn USD)
26
CK Revenue Q1 2013 : USD 96.4 mn
CK Q1 2013 Revenue
27
Client FY 2012 FY 2011 ∆
Old Client
A 29.7 25.5B 1.6 13.6C 7.3 14.8D 10.6 23.66
E 27.3 25.3F 17.3 14.2G 11.4 1
105.2 118.06 -12.86New Client
H 16.8 0I 7.7 0
J 1.3 025.8 0
Total (mn bcm) 131 118.06 25.8
Existing 2011 vs 2012 Client of CK
73.8
104.2 100.0
118.0
130.0
140.0
30.0
50.0
70.0
90.0
110.0
130.0
150.0
FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 ( e)
OB Removal (mn bcm)
28
OB Removal Historical and Plan 2013
5.4
7.1
8.3
10.6
11.9
16.0
-
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
18.0
FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 ( e)
Rental Service ( mn ton coal)
29
Rental Service Historical and Plan 2013
30
Operating Agreements as of Mar 31, 2013
12
3
4
6
7
Kalimantan
Sumatra
Client Mining Project SitesExpected
Contract Duration
Backlog
(bcm/ton)
Separi, East KalimantanJun 2004 – Sep
2015.72.5 / 7.5
Jongon East Kalimantan Nov, 2007 – Oct
201569.2 / 5
Sebambam, Tanah Bumbu,
South Kalimantan
April, 2009 – Jul
2020125 / 21
Batulicin,
South Kalimantan2003- life mine. 12/ 2
Ketaun Village,Bengkulu Mar 11- Mar 2017ti 84 / -
Siambul, RiauFeb 2012-Feb
201292 / -
Loan Janan, East
KalimantanJun 2012-Jun 2017 69/-
Batu Sopag East
Kalimantan
Nov 2012-Nov
2017135
Total 660 / 36.2
1
2
3
4
5
6
7
5
8
8
Current Customers and Backlog
31
Type of equipment
Mar 31, 2013Capacity Number of units Average age (in years)
Excavator 250 - 350 tons 15 5.07
20 - 100 tons 104 2.03
Truck 30 - 100 tons 334 3.1
Dozer 85 1.74
Grader 14 - 16 feet 46 2.27
Wheel loader 5 2.1
Compactor 12 2.16
Drill machine 1 2.7
Total 602
Heavy Equipment and Machinery
PT Sumber Daya Sewatama (SS) – Power Solutions
32
1|010 1|010 1|010
Jan-13 Feb-13 Mar-13
Capacity Installed
103|887
96|104
103|363
Jan-13 Feb-13 Mar-13
kWh Generated
33
Capacity Installed Q1 2013 : 1,010 MW kWh generated Q1 2013 : 303,354 kWh
Capacity Installed and KWh Generated
271.1
272.3
275.3
Jan-13 Feb-13 Mar-13
Lease Rate Rp/kwh
ASP Rp/kwh
34
944
1|010
Q1 2012 Q1 2013
Capacity Installed
6.9%
Capacity Installed and Lease Rate
269273
147
167
187
207
227
247
267
287
Q1 2012 Q1 2013
Lease Rate (Rp/Kwh)
1.5%
35
11.63 11.33
11.90
Jan-13 Feb-13 Mar-13
Revenue (mn USD)
SS Revenue Q1 2013 : USD 34.87 mn
Lease Rate and Revenue
638
758 792
934
1|010 1|010
1|250
72%
70%74%
74%73% 73%
-
200
400
600
800
1|000
1|200
1|400
FY 2008 FY 2009 FY 2012 FY 2011 FY 2012 Q1 2013 FY 2013 (e )
Capacity Installed (MW)
36
Capacity Historical and Plan Installed and Utilization Rate
Model
Number of Units
as of Mar 31,
2013
Capacity
(kW)
Average
Useful Life
(Yrs)
Average Age as of
Mar 31, 201
(Yrs)
Diesel
Generator Sets828 1,001,054 10 6
Gas Generator
Sets5 9,000 15 2
Total 833 1,010,054
Diesel Genset is the Majority of Generators
37
Business Overview
Transport
Equipment
Division
Designing, manufacturing and distributing products for
transportation and material handling business
Site Services
Division
On-site repair, process plant maintenance and construction
services
Fabrication
Division
Design and manufacture of process equipment, general
fabrication, site construction and installation solutions
Re-Manufacturing
Division
Salvaging, remanufacturing and manufacturing of heavy
equipment core components
PT. Sanggar Sarana Baja (SSB) – Engineering Services
38
Site Service work at SSB Client
39
8.15
6.78
13.21
Jan-13 Feb-13 Mar-13
Revenue (mn USD)
SSB Revenue Q1 2013 : USD 28.1mn
40
Fabrication Division
41
Business Overview
• Integrated logistics provider offering freight forwarding, project logistics,
industrial / offshore and coal logistics shipping, warehouse and shorebase
management services
• Freight forwarding services: Integrated logistics services via owner and third
party operated freight services
• Project logistics: Transportation of over weight and over size cargo (heavy
equipment, machines and engines)
• Energy related logistics: Industrial, offshore and coal logistics shipping and
warehouse and shorebase management services
• PT Baruna Dirga Dharma (BDD) is our coal logistic.
• Provides through CKB and a third-party sub-contractor, barging services to TIA
as a part of its coal logistics chain
—ISO 9001: 2008 and OHSAS 18001: 2007
PT. Cipta Krida Bahari (CKB) – Integrated Logistic
42
Project Logistic of Overweight and over Size Cargo
43
CKB Revenue
9.90
10.23
10.77
Jan-13 Feb-13 Mar-13
Revenue (mn USD)
CK BRevenue Q1 2013 : USD 30.9 mn
To anticipate the uncertainty Energy and Coal industry, our strategy is to maintain
our growth and profitability, at the same time be cautious. We will focus on
improving efficiency to reduce costs to keep its balance sheet healthy.
Capex plan is mainly to complete MDB Project, Aceh, couple with SS in increasing
temporary power capacity to 1,250MW. At CK will be very minimum capex, we will
utilize the available heavy equipment for 3 new projects in 2013 (1 signed end
2012)
Coal Production
• TIA producing at maximum capacity 5mn ton annually till life of mine.
• MDB is expected to complete in Oct 2013 MDB with target in 2014 and 2015 to
produce 7 mn and 10 mn ton coal respectively.
• In total Reswara production in 2014 and 2015 is 12 mn tons and 15 mn .
At SS will expand its portfolio to IPP (Independent Power Plant) to maintain
sustainable revenue stream in 10 years ahead. This year Temporary power is
expecting still growth at the level of 10%.
ABMM 2013 Strategy & Mitigation
44
Q1- 2013
Financial Highlights and Review
45
ABM Consol Q1 - 2013 Q1 - 2012 ∆
Sales 213,244 200,174 7%
COGS (174,762) (158,921) 10%
Gross Profit 38,482 41,253 -7%
Gross Profit Margin 18% 21%
Operating Expenses (31,310) (27,165) 15%
Other operating 18,351 (822) -2331%
Income from Operations 25,523 13,266 92%
Equity in net income of associated company 661 - 100%
Finance expenses - net (10,381) (6,086) 71%
EBT 15,803 7,180 120%
EBITDA 62,559 41,208 52%
Tax (400) (2,314) -83%
EAT 15,403 4,866 217%
EAT Margin 7% 2%
Income Attributable to parent 15,780 5,053 212%
Q1 2013 Income Statement
46
Q1 Balance Sheet
47
ABM Consol 31 Mar 2013 31 Dec 2012
Current Asset 501,915 461,744
Non Current Assets 798,204 801,654
Total Assets 1,300,119 1,263,398
Current Liabilities 381,556 376,625
Non Current Liabilities 558,057 540,713
Equity 360,506 346,060
Total Liabilities and Equity
1,300,119 1,263,398
48
Capex USD (‘000) Allocation in %
ABM 4 0.01%
CK 808 2.93%
SS 14,575 52.92%
SSB 260 0.94%
CKB 889 3.23%
Reswara 11,011 39.97%
Total 27,547 100.00%
Q1 2013 Capex
CK42%
SS14%
SSB13%
CKB13%
Reswara18%
Q1 - 2012
CK40%
SS14%
SSB11%
CKB13%
Reswara22%
Q1 - 2013
Contribution from Subsidiaries - Revenue
49
CK20%
SS34%
SSB14%
CKB16%
Reswara16%
Q1 - 2012
CK9%
SS30%
SSB15%
CKB16%
Reswara30%
Q1 - 2013
Contribution from Subsidiaries - Gross Profit
50
CK26%
SS52%
SSB1%
CKB16%
Reswara-5%
Q1 - 2012
CK5%
SS29%
SSB57%
CKB8%
Reswara1%
Q1 - 2013
Contribution from Subsidiaries – Income From Operations
51
CK10%
SS51%
SSB-8%
CKB19%
Reswara-12%
Q1 - 2012
CK-8%
SS15%
SSB64%
CKB5%
Reswara-10%
Q1 - 2013
Contribution from Subsidiaries- Net Income
52
53
520
754
887
0
100
200
300
400
500
600
700
800
900
1000
FY 2010 FY 2011 FY 2012
Revenue (mn USD)
Historical Revenue
54
79
159172
15%
21% 19%
0%
5%
10%
15%
20%
25%
0
20
40
60
80
100
120
140
160
180
200
FY 2010 FY 2011 FY 2012
Gross P GP Margin
Historical Gross Profit
23
56
14
3.4%
7.4%
1.6%
0%
1%
2%
3%
4%
5%
6%
7%
8%
0
10
20
30
40
50
60
FY 2010 FY 2011 FY 2012
Net Income Margin
Historical Net Income
55
ContactInvestor RelationsErrinto PardedeTel:6221-2997-6767 Ext.1874Fax : 6221-2997-6768Email : errinto.pardede@abm-Investama.co.idEmail : ir@abm-investama.co.idWebsite : www.abm-investama.com
A member of Tiara Marga Trakindo Group
Gedung TMT 1, 18th Fl, Suite 1802Jl Cilandak KKO No.1 Jakarta 12560 - Indonesia
56
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