PT Bukit Asam Tbk Corporate Presentation FY2020
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PT Bukit Asam Tbk Corporate Presentation FY2020
• Company Overview
• FY2020 Update
• Business Strategy and Update on Key Projects
Strictly Confidential
miningindustry.id 2
Corporate Structure and Group Overview
PT Indonesia Asahan Aluminium (Persero) owns
~65,93% of total shares
The Subsidiaries and Indirect Subsidiaries
Mining Trading Power Logistics Gas Investment Others
Mining Power Gas Others
Trading Logistics Investment
PTBA continues to diversify its source of revenues – The Company’s core coal mining business is supported by the
development of other businesses in power generation, logistic, coal beneficiation, investment and others.
3
PTBA Among Peers 9M20
2020 Coal Production 2016 - 2019 Production CAGR
((million ton)
(%)
34%
54.5
11%
34
23.9 n.a. n.a n.a 1%
19.4 21.5
13.8
n.a
-8%
Bumi ITMG PTBA Bayan Golden Indika Adaro ITMG Bumi Golden Indika Adaro PTBA Bayan
Energy Energy
(1)
2020 EBITDA Margin 2020 Weighted Average Stripping Ratio
(%) (x)
10,0x
35%
24% 5.9x
22%
3,8x. 4.3x 4,4x
14% 14% 14%
n.a n.a. n.a
(1) (1) (1)
Bumi Golden ITMG Indika Bayan PTBA Adaro Bumi Adaro Golden Bayan PTBA Indika ITMG
Energy Energy
Source: Internal Analysis.
(1) Adjusted EBITDA.
(2) Production CAGR between 9M16-9M20
PTBA is one of the fastest growing and lowest cost coal producers in Indonesia
4
Actions Taken by PTBA to Mitigate The Covid-19 Outbreak
PPE TRANSPORTATION MEDIC IT ACTIVITIES
APD
3
5
PTBA Supports The Community
763 303,695 112
Handsanitizer Unit Tedmond &
400 ml & 60 ml Mask Portable Wastafel
Spraying of
Disinfectants in
the Company's 26 Ton 10
Ring 1 Area Rice box
700 107,720 3,750
Protection Clothes
Rosela for Health
dan Protective Groceries Packages
Workers
Goggles
IDR 23.8 Billion
Total Fund Realization on Covid up to
December 2020
6
• Company Overview
• FY2020 Update
• Business Strategy and Update on Key Projects
Strictly Confidential
miningindustry.id 7
Key Performance Highlights
YoY
FY 2021 E FY 2020 FY 2019
(% change)
Sales Volume (Mt) 30.7 26.1 27.8 -6.1
Production Volume (Mt) 29.5 24.8 29.1 -14.8
Railway Volume (Mt) 28.2 23.8 24.2 -1.7
Revenue (IDR TN) N.A 17.3 21.8 -20.6
Net Profit (IDR TN)* N.A 2.4 4.1 -41.5
Weighted Average 653,507 769,670 -15.1
N.A
Selling Price (IDR/t)
Stripping Ratio (x) 5.1 4.4 4.6 -4.3
Note: *net profit after minority interest
8
Key Operation Highlights
Coal Production Railways Capacity
(million ton) Production Sales (million ton)
29.1
27.8
26.4 26.1 24.2 23.8
24.2 23.6 24.7 24.8 22.7
21.4
19.6 20.8
17.7
FY2016 FY2017 FY2018 FY2019 FY2020 FY2016 FY2017 FY2018 FY2019 FY2020
Weighted Average Stripping Ratio Sales Breakdown by Country (1) Sales Breakdown by Quality (1)
(x) (%) (%)
Thailand, 3% Bukit Asam-45
Malaysia, 2% 3%
4.9 Korea Selatan, 3% (3)
4.6 Vietnam, 2% Other 9%
4.4 Hongkong, 5% Bukit Asam-64
4.1 Others, 5% (2) 3%
3.6 Taiwan, 6%
GAR 6100
5%
China, 7%
Bukit Asam-46
7% Bukit Asam-50
India, 13%
52%
Bukit Asam-48
Domestic, 22%
FY2016 FY2017 FY2018 FY2019 FY2020 54%
(1) Breakdown based on sales distribution per ton.
(2) Others include Philippines , Japan, Australia, Cambodia, Pakistan, Brunei Darussalam.
(3) Others include Bukit Asam-67, Bukit Asam-47, GAR6700 dan GAR 46-IPC.
9
Key Financial Highlights
Revenue and Growth Gross Profit and Margins
(IDR billion) (IDR billion)
1.5% 38.5% 8.7% 2.9% - 20.5% 31.3% 43.7% 40.4% 34.9% 26.4%
21,167 21,788
19,471 8,507 8,546
7,612
17,325
14,059 4,401 4,566
FY2016 FY2017 FY2018 FY2019 FY2020 FY2016 FY2017 FY2018 FY2019 FY2020
Revenue (IDR bn) Growth (%) Gross Profit Gross Profit Margin (%)
Operating Profit and Margins Net Profit and Margins
(IDR billion) (IDR billion)
18.0% 30.3% 29.5% 23.0% 14.6% 14.3% 23.0% 23.7% 18.6% 13.8%
6,224 5,024
5,899 4,476
5,014 4,057
2,387
2,531 2,520 2,006
FY2016 FY2017 FY2018 FY2019 FY2020 FY2016 FY2017 FY2018 FY2019 FY2020
Operating Profit Operating Profit Margin (%) Net Profit Net Profit Margin (%)
10Key Financial Highlights (cont.)
EBITDA and Total Debt (1)/ EBITDA Ratio Minimal Debt (1) with Overall Net Cash Position (2)
(IDR billion) (IDR billion)
0.7x 0.1x 0.1x 0.1x 0.1x 1,306 2,582 5,469 4,126 3,918
6,301
7,582 4,757
6,830 6,391 4,341
3,675 3,555
4,381
3,297 2,369
974 832 631 423
FY2016 FY2017 FY2018 FY2019 FY2020 FY2016 FY2017 FY2018 FY2019 FY2020
EBITDA Total Debt/EBITDA (x) Cash & Equivalents Total Debt Net Cash
Low Leverage(1) Min. 30% Dividen Payout Ratio Over The Last Few Years Cost Breakdown
(%)
Cash cost (3) % Peningkatan
FY20 FY19
22% 7% 5% 3% 2% (IDR ‘000/t) (Penurunan)
90% Total
Total 535 581 (8.0)
75% 75% Land & Building Taxes; 1%
Donation; 1%
Sparepart; 3% Others; 9%
30% Fuel & Lubricants; 3%
Rental of heavy
n.a. equipment; 3%
Coal Railway; 31%
Third party services; 5%
FY2016 FY2017 FY2018 FY2019 FY2020
Dividend Payout Ratio Total Debt/Equity Royalty & Retribution; 6%
Depreciation & Mining Services; 20%
(1) Total debt includes bank borrowings and lease obligations, except lease obligations of PSAK 73. Amortisation; 7% Salaries; 11%
(2) Net cash not included deposits more than 3 (three) months.
(3) Total Cash Cost include COGS, G&A, Selling Expenses, Inventory and Royalty, exclude Depreciation and Amortisation 11• Company Overview
• FY2020 Update
• Business Strategy and Update on Key Projects
Strictly Confidential
miningindustry.id 12PTBA’s Strategic Guidelines
Vision:
A world-class energy company that cares about environment
Mission:
Manage energy resources by developing corporate competencies and human excellence to provide maximum value for the stakeholders and environment
1 2 3 4
Aggressive Exploration & Cost Leadership Beyond Coal – Beyond Coal –
Production Growth Focused on Build world-scale downstream Strategic alliances for new
Economic Value assets downstream expansion
• Acquire coal reserves • Tech-enabled Operations via • Coal to power • Coal to chemicals
Digital Mining
• Increase logistics capacity • Power Plants to support • Activated carbon
• Operational Excellence other MIND ID projects
• Renewable energy
Across Value Chain
E
Enabler – Capability Building and Portfolio Optimisation
Organization
Financing & Cash HSE CSR Integrated
Rejuvenation & BACBIE Subsidiary Restructuring
Management Management Improvement Marketing
Transformation Unit
13PTBA’s Strategic Focus
Coal Transportation Expansion
• Expansion of Coal Railway capacity
• Development of alternative coal transportation options
Power Plant
• Minemouth Coal Power Plant
• Coal Power Plant to support Mining Industry
Towards world class energy • Other Power Plant including Renewable Energy
company and beyond coal
aspiration
Coal to Downstream Industries
• Coal to Chemicals (DME, etc)
• Coal to Activated Carbon
14Update On Key Projects
• The biggest CFPP in Sumatera ; The biggest Mine Mouth CFPP in Indonesia
Mine Mouth Coal Fire Power
• Construction progress 66,8 % as of December 2020
Plant Sumsel 8 • COD in Q1-2022
• Coal to DME 1.4 Mtpa
Coal to Chemical • Finalization Cooperation Agreement
• Construction to start in 2021 and COD targeted in Q2-2024
• Coal to Activated Carbon 12 Thousand Tons
• Signed a Heads of Agreement (HoA) with Activated Carbon Technologies PTY, LTD
Coal to Activated Carbon (ACT), as an offtaker
• Plant’s Front-End Engineering Design (FEED) in 2021
• Tanjung Enim – Kertapati upgraded up to 7 Mtpa
• Kertapati capacity has reached the project target of 5 Mtpa and will be increased to
7 Mtpa in 2021, where currently preparations for major repair are in the framework
of 7 Mtpa
• CoD targeted in Q3-2021
Development Existing Railway
• Tanjung Enim – Tarahan upgraded 25 Mtpa
• Construction for railway track and signal system
• COD targeted in Q3-2021
• Northern South Sumatera (Kramasan) Capacity 20 Mtpa
• Signed Head of Agreement (HoA) PTBA – KAI
• COD targeted in Q1-2024
New Port & Railways
• Southern Lampung (Tarahan 2) Capacity 20 Mtpa
• On process for issuing of permits including AMDAL
• COD targeted in Q2-2025
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