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22 August 2008
ANALYST MEETING
PT. Sierad Produce, Tbk
DISCLAIMERWe remind all investors that the statements and figures contained herein have not been independently verified. No representation or warranty expressed or implied is made as to, & no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinion contained herein. The Company’s reasonable judgment on its forward-looking views is subject to changes caused by unforeseeable risks and other uncertainties that could affect the Company’s business.
This document is being furnished to you solely for your information and on confidential basis & may not be reproduced, redistributed or passed on, in whole or in part, to any other person.
2
1. INTRODUCTION2. INDUSTRY OUTLOOK3. FINANCIAL HIGHLIGHTS
PT Sierad Produce, Tbk
FeedmillBreeding & Hatchery
Contract Growing Slaughterhouse SBU
Capacity
Location
1500 ton / day 800.000 ton / year 105 million DOC / year+ 900.000 DOC / week
(as of Jul 2008)
• Slaughtering: 60.000 birds/day• Cold storage : 1200 ton
• Lampung • Sidoardjo
• Lampung • Sidoardjo• Balaraja, Tangerang
• Sukabumi (7 F + 1 H)• Bogor (3 F + 1 H)• Tangerang (1 F)• Lamongan (1 F + 1H)
• Jawa Barat & Banten• Jawa Tengah & Jogjakarta• Jawa Timur & Bali
Parung, Bogor
Corn Drying
COVERAGE AREAS
THE COMPANY
4
OTHER BUSINESSESPT Sierad Industries (Cikande – Serang)
– Plastic Based Poultry EquipmentPT Dwipamina Nusantara (Bali) –
Fishmeal Production
5
Breeder/Laying
FarmPullets become
productive at 25 weeks
HatcheryEggs are in
hatchery for 21
days
Broiler FarmBroilers reach market
weight in about 36
days
Processing /
Further-
Processing Plant
FeedmillProduces scientifically
formulated feed for
pullets & broilers
Receiving
ParentStock Day
Old Chick
POULTRY SUPPLY CHAIN
Distribution
6
*
Incorporated06 Sep1985
IPO, 27 Dec 1996Merger, 2001
Debt to Equity/CB/Resched
uling Lease Finance Debt
Oct 2001
Financial Restructuring 1997 - 2000
Reverse Stock SplitOct 2004
Debt to Equity
May 2005
CORPORATE MILESTONE
7
CAPITAL STRUCTURE
Shareholder Number of Nominal Total % Shares (Rp) (Rp)
PT Sietek Nusantara Finance - A Series 20.018.500 5.000 100.092.500.000 3,14%Public - A Series 53.081.400 5.000 265.407.000.000 8,33%
Public (Ex Creditors) - B Series 650.686.609 3.000 1.952.059.827.000 61,30%Public (Ex Bondholders) - C Series 7.346.666.667 100 734.666.666.700 23,07%
Public (Ex Lessors) - C Series 1.320.655.317 100 132.065.531.700 4,15%Total 9.391.108.493 3.184.291.525.400 100,00%
8
1. INTRODUCTION2. INDUSTRY OUTLOOK3. FINANCIAL HIGHLIGHTS
CHICKEN CONSUMPTION
10
Meat Eggs0
100
200
300
400
4.5
6738.5
311
2864
7.5
105
Chicken Consumption Per Capita /KG / Annum
Indonesia Malaysia Singapore ASEAN
Source : FAO 2007
GDP vs. CHICKEN CONSUMPTION
0
50
100
150
200
250
300
350
400
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Year
GD
P (B
LN U
SD)
0
0.5
1
1.5
2
2.5
3
3.5
4
4.5
5
Broi
ler m
eat c
onsu
mpti
on/c
apita
/yea
r
11
CORN PRICE
Jan-
06
Mar
-06
May
-06
Jul-0
6
Sep-
06
Nov-0
6
Jan-
07
Mar
-07
May
-07
Jul-0
7
Sep-
07
Nov-0
7
Jan-
08
Mar
-08
May
-08
0
500
1000
1500
2000
2500
3000
3500
4000
Local CornImport Corn
Pri
ce (
Rp
)
12
SBM PRICE
Jan-
06
Mar
-06
May
-06
Jul-0
6
Sep-
06
Nov-0
6
Jan-
07
Mar
-07
May
-07
Jul-0
7
Sep-
07
Nov-0
7
Jan-
08
Mar
-08
May
-08
Jul-0
8$0
$100
$200
$300
$400
$500
$600
$700
Pri
ce
13
DOC AND LIVE BIRD PRICE
14
01-Ja
n-06
03-M
ar-0
6
03-M
ay-0
6
03-Ju
l-06
02-S
ep-0
6
02-N
ov-0
6
02-Ja
n-07
04-M
ar-0
7
04-M
ay-0
7
04-Ju
l-07
03-S
ep-0
7
03-N
ov-0
7
03-Ja
n-08
04-M
ar-0
8
04-M
ay-0
8
04-Ju
l-08
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
DOC BroilerDOC LayerLive Bird
Pri
ce (
Rp
)
1. INTRODUCTION2. INDUSTRY OUTLOOK3. FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS
2004 2005 2006 2007 1H 2008
(69) (85)
68 49
63
Operating Income(Rp billions)
2004 2005 2006 2007 1H 2008
(154)
(122)
41 21
33
Net Income(Rp billions)
2004 2005 2006 2007 1H 2008
11
(46)
104 83 83
EBITDA(Rp billions)
2004 2005 2006 2007 1H 2008
1,354 1,425 1,111
1,632
1,090
Net Sales(Rp billions)
16
TARGET 2008
2008 (F) 2007 1H 2008 1H 2007
Net Sales 2.000 1.632 1.090 683
EBITDA 120 83 83 36
Net Income 46 21 33 13
17
FINANCIAL HIGHLIGHTSFINANCIAL HIGHLIGHTS 1H 2008 1H 2007 ∆ %
( Rp billions)
Net Sales 1.090 683 60
Gross Profit 124 68 83
Operating Income 63 19 239
EBITDA 83 36 130
Earnings Before Tax 51 20 162
Net Income 33 13 150
EPS (Rp /share) 4 1 150
Equity 1.039 998 4
Total Assets 1.399 1.143 22
Ratios
Current Ratio 228 367 (38)
Debt to Equity 35 15 138
Debt to Total Assets 26 13 102
Book Value Per Share (Rp) 111 106 4 18
REVENUE CONTRIBUTIONS
Feedmill; 57%
Breed-ing; 14%
Contract Growing;
26%
S.house; 2% Others; 0%
19
PRODUCTION VOLUME
20 1H 2008 VS 1H 2007
24.6%
0.6%
23.7%
Feeds DOC Live Bird
15%
Dressed Chicken
EXPANSION PLANAdditional + 40 flocks (Breeding Farm)
Broiler Central Java + 450.000 DOC /week
Layer West Java + 115.000 DOC / weekHatchery (24 machines) Central Java
+ 670.000 DOC / weekInvestment Cost = Rp 310 billions
21
OTHERSIncrease population in Kemitraan
captive marketExtend the Vertical Integration ChainDelfarm Meat Shop Project
22 22
TERIMA KASIH
Untuk Informasi Lebih Lanjut Hubungi:
PT Sierad Produce TbkGedung Plaza City View, Lantai 1Jl. Kemang Timur No. 22, JakartaTel. 021 - 719 3888, Fax. 021 719 3889Up. Elies Lestari Setiawan - Corporate Secretary