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Company Milestones
1969Establishment
1971‐1987
Entered seismic business, oilfied services, data management and
fuel trading business
2008IPO
7.298.500.000shares
2009
Non core divestment of PT Infomedia Nusantara
2011 ‐ 2012Elnusa
TurnaroundProgram
2013 ‐ 2014
Revitalizing Human Resources
2014 ‐ 2015The dawn of low oil price impacted to industry
2016 ‐ 2017
Vanquishing Challenges through
Ingenious Improvements
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Elnusa Total Solution Services
ExplorationDevelopment & Installation
Operation & Abandonment
Processing& Refinery
Logistic && Refinery
Equipm
ent /
Sup
port
Offs
hore
Onsho
re
Seismic
Drilling Services
Well Services
Maintenance
Seismic
Well Services
Support Equipment Fabrication
OCTG Trading & Threading
Support Vessel
Chemical
Trunking
Data Management
Fleet & Depo Management
Vision : Reputable Energy Services Company through Total Solution
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Shareholder & Management Structure
PERTAMINA as controlling shareholder & major client
PT PERTAMINA (PERSERO)41,1%
DANA PENSIUNPERTAMINA
14,9%
PT Elnusa Oilfield Services
PT Elnusa Geosains Services
PT Elnusa Fabrikasi Konstruksi
PT Patra Nusa Data
PT Sigma Cipta Utama
PT Elnusa Trans Samudera
PT Elnusa Petrofin
PT Elnusa Patra Ritel
Integrated UpstreamOil & Gas Services
Oil & Gas Support Services
Logistic & DistributionServices
99,9%
99,9%
99,9%
99,9%
97,3%
70,0%
99,9%
99,9%
ELNUSA as operating Holding Company : Seismic & Oilfield Services
41.9%
37.5%
20.6%
IndividuDomestik
Badan UsahaDomestik
Asing
PUBLIC44,0%
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Financial Highlights – 9M
INCOME STATEMENT 9M15 9M16 % Change
Revenue 2.619 100% 2.524 100% (3.7%)
Cost of Revenue 2.178 83% 2.094 80% (3.9%)
Gross Profit 441 17% 430 16% (2.6%)
Operating Profit 247 9% 281 11% 13.6%
EBITDA 447 17% 505 19% 13.1%
Net Profit 226 9% 178 7% (21.4%)
Revenue down 3.7% due to impact of slow activities in oil & gas especially to our drilling services business.
We succesfully managed our cost and efficiency which reflected to the growth of our operating profit and EBITDA.
Aside of lower operational activities, net profit dropped 21.4% this September was caused by forex loss of Rp22 bn compared to gain on forex of Rp68 bn last year.
IDR Bn
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Financial Highlights – 9M
BALANCE SHEET 9M15 9M16 % Change
Cash & Equivalents 868 20% 670 16% (22.8%)
Account Receivables 785 18% 677 16% (13.8%)
Total Assets 4.308 100% 4.099 100% (4.9%)
Account Payables & Accruals 987 23% 808 19% (18.1%)
Short Term Bank Loan 299 7% 389 10% 30.2%
Long Term Bank Loan 375 9% 40 1% (89.2%)
Total Liabilities 1.785 45% 1.361 32% (23.8%)
Total Equity 2.523 59% 2.738 64% 8.5%
Account receivables declined 13.8% to Rp677 bn due tomanagement’s policy to shorten collection days period.
Interest bearing debt dropped 30% to Rp430 bn due to loan payment of around USD23 mn during period in order to optimize cash position and reduce interest expenses and was impacted to total Liabilities which declined 23.8% to Rp 1,785 bn.
Equity up 8.5% to Rp2,738 bn as the impact of improved retained earnings.
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Segment Highlights
10
1,176 852
26%
19%
390 421
10%
18%
1,211 1,342
13%16%
9M15 9M16
Drilling & Oilfield Services
Seismic Services
Transportation, Logistic & Other Services
Drilling & Oilfield Services revenue declined 28% to Rp852 bn mostly caused by drilling business contract termination, but on the other hand, we currently focus on operation maintenance business to cover the slowdown in upstream industry.
Seismic Services up 8% to Rp421 bn as projects in Pertamina was performed satisfactory. In Subsidiaries, revenue from transportation services increased 10% while another subsidiary
(data management) experienced higher activities.
IDR BnRevenue & Gross Margin
34%
17%
43%
7%
DOS GSC EPN Others
2016Revenue
Contrbution
‐28%
8%
16%
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ELSA Stock Performance
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0
100
200
300
400
500
600
700
800
Jan‐15
Feb‐15
Mar‐15
Apr‐15
May‐15
Jun‐15
Jul‐15
Aug‐15
Sep‐15
Oct‐15
Nov‐15
Dec‐15
Jan‐16
Feb‐16
Mar‐16
Apr‐16
May‐16
Jun‐16
Jul‐16
Aug‐16
Sep‐16
Volume Price
Rp 67001/15
Rp 23408/15 Rp 174
01/16
Rp 45609/16
Rp 60006/16
Since mid 2015 ELSA stock performance tends to have correlation with oil price sentiment.
During 2015 – 2016 September, highest price of ELSA was Rp670 and lowest price was Rp174.
Up to September 2016, the average price was Rp392 and average volume was 83mn. Market Cap was around Rp3.3 trillion.
This liquidity has brought ELSA to be included to LQ 45 index for the period of August 2016 – January 2017.
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Contract Profile
Carry over contract from 2015 was USD 311,1 mn which consisted of USD 241,6mn from Drilling & Oilfield and USD 69,5 from Seismic.
New contract up to September 2016 amounted to USD 76,8 mn which are USD 69mn of Drilling & Oilfield and USD 7,8mn of Seismic.
Until end of Dec 2016 total project that is estimated to be realized will be about USD 171,9mn.
Total Carry forward contract will be around USD 216 mn.
311.176,8 387.9 171.9
216.0
Carry Over New Contract Total Contract 2016 Projection Carry Forward
Drillling & Oilfield SeismicIn USD mn
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The Best Contractor in Delta Mahakam
For the third time, ELNUSA received The Mahakam Award & The Best Contractor for category of SafetyPerformance of High Risk Contract > 400,000 Manhoursin TOTAL EP INDONESIE’s HSE Communication Forum 2016.
ELNUSA has been operating in Delta Mahakam (for Total EP Indonesie) for more than 30 years (since 1982).
Well Testing & Slickline
ELNUSA Services in Delta Mahakam
Hydraulic Workover & Snubbing
Coiled Tubing, Well Stimulation & Pumping
Work Barge
Accommodation Work Barge
Multi Purpose Barge
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Industry Update : Oil price is projected to recover gradually
15
Global oil crude market messages by IHS Market : Dated brent expected to rise to an average of $52/bbl in 2017 as the impact of deep spending cuts
on production. Annual world oil demand growth of just over 1 MMb/d is a critical assumption underpinning for
the market to stay more‐or‐less balanced through 2017. There is upside potential to our supply outlook for some areas, despite the lower price
environment. The post‐summer trajectory of Saudi Arabia’s crude production will be a key signpost for prices.
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Business Strategy
STABILITYMaintain Profit
Help clients in carrying outefficiency
DevelopInternal improvement
GROWTHDiversifica‐
tion
Diversification tominimize risk
Potential recurring income
Optimize Integrate Diversify
Focus on Energy in Core BusinessSelective Services in Non‐Energy Sector
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Market Penetration in Marine Support Services
Exploring New DiscoveriesContributing to National Resources
An Indonesia PrideELSA REGENT
Indonesian Flag ‐ Marine Seismic Vessel Highest seismic vessel local content
in Indonesia (TKDN) Superior broadband seismic data
acquisition & processing Efficient survey utilization through
high capacity 3D seismic vessel Full azimuth dataset for subsurface
illumination solution
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Product Development : Flare Gas
Flare Gas
0,5 ‐ 10 mmcfd
0,009 – 0,065 mmcfd
CH4 (gas)
NGL (liquid)
Condensate (liquid)
Flare to Liquid service
Flare to Power service
Electric up to 350 kw/unit
Key Drivers Clients needs to comply with regulation Oil Company needs to reduce the oil lifting cost Potential additional income for PSC Indonesian LPG import keep increasing Big Flare gas potential in Pertamina fields
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Market Expansion to Regional Area
AlgeriaSeismic Reprocessingfor Pertamina Algeria
E&P
MalaysiaSnubbing Services
in Petronas
BruneiMarine Support &
Snubbing Job in Shell Brunei
India2D Land Seismic in ONGC & 3D Land Seismic in Oil India Ltd (Technical Expertise)
ThailandSnubbing services in Chevron Thailand E&P
Ongoing project / under contract
Prospect market
MalaysiaWell Testing & TCP services in Petronas Carigali & workover services in KPOC
PT Elnusa Tbk.Graha ElnusaJl. T.B. Simatupang Kav. 1BJakarta 12560, IndonesiaTel: +62 21‐78830850 Fax: +62 21‐78830907www.elnusa.co.id
Thank YouDISCLAIMER :
The information in this document has not been independently verified. No representation or warranty expressed or implied is made as to, and no relianceshould be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. None of PT Elnusa Tbk (the“Company“), nor any of its affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss whatsoeverarising from the use of this document or its contents or otherwise arising in connectionwith this document.
This document is being furnished to you solely for your information on a confidential basis and may not be reproduced, redistributed or passed on, in wholeor in part, to any other person. Any failure to comply with these restrictions may constitute a violation of the laws of any such other jurisdiction. Byaccepting this document you agree to be bound by the foregoing limitations.
This document does not constitute or form part of an offer or invitation to purchase any shares in the Company and neither shall any part of it form thebasis of nor be relied upon in connection with any contract or commitment whatsoever. Any decision to purchase shares should be made solely on the basisof information contained in the prospectus.
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