3/30/2016 General Announcement::Public Expose material of listed Indonesian subsidiary General Announcement::Public Expose material of listed Indonesian subsidiary Issuer & Securities Issuer/ Manager Securities Stapled Security JAPFA LTD. JAPFA LTD. - SG1AB9000005 - UD2 No Announcement Details Announcement Title General Announcement Date & Time of Broadcast 30-Mar-2016 18:25:56 Status Announcement Sub Title Announcement Reference Submitted By (Co./ Ind. Name) Designation New Public Expose material of listed Indonesian subsidiary SG160330OTHRW95U Maya Pradjono Corporate Secretary PT Japfa Comfeed Indonesia Tbk As required under IDX regulation, PT Japfa Comfeed Indonesia Tbk has submitted its Public Expose material to IDX, as attached. Description (Please provide a detailed description of the event in the box below) Attachments Credit Suisse (Singapore) Limited and DBS Bank Ltd. were the joint global coordinators, joint issue managers and joint bookrunners and underwriters (Joint Global Coordinators, Joint Issue Managers and Joint Bookrunners and Underwriters) for the initial public offering of shares in, and listing of, Japfa Ltd on the Main Board of the Singapore Exchange Securities Trading Limited. The Joint Global Coordinators, Joint Issue Managers and Joint Bookrunners and Underwriters assume no responsibility for the contents of this announcement. Public Expose Material 2016 - Bahasa.pdf Public Expose Material 2016 - English.pdf Total size =4014K Like 0 Tw eet 0 http://infopub.sgx.com/apps?a=cow_corpannouncement_content&b=announcementtoday&f=j8itxdan05wjbsbc&h=f1007bb283e85ff8e9ce84a280d38b1 1/1
Daftar Isi Profil Perseroan Kinerja Operasional Ikhtisar Keuangan Tantangan dan Strategi Ke Depan Lampiran 2
Sekilas Japfa Tbk Perusahaan agribisnis terintegrasi vertikal berfokus di Indonesia Salah satu pelaku usaha perunggasan yang terbesar di Indonesia dengan penjualan bersih sebesar Rp25,01 triliun dan EBITDA sebesar Rp2,3 triliun pada tahun 2015. Diversifikasi usaha strategis di bidang budidaya perairan dan penggemukkan sapi. Tercatat di BEI lebih dari 20 tahun dengan kapitalisasi pasar sebesar Rp6,8 triliun per tanggal 31 Desember 2015. Fokus di Indonesia, pasar pangan berprotein hewani dengan potensi pertumbuhan yang tinggi. Pemimpin pasar dan tingkat pertumbuhan yang tinggi Berhasil mempertahankan pangsa pasar yang tinggi selama lebih dari 30 tahun beroperasi. Skala ekonomis usaha yang memberikan keunggulan dalam efisiensi pembelian dan harga bahan baku. Jangkauan geografis usaha yang luas, mendekatkan Perseroan dengan para pelanggan dan pemasok bahan baku. Tingkat pertumbuhan penjualan bersih sebesar 15,5% CAGR dari tahun 2007-2015. Perseroan memilki pangsa pasar kedua terbesar untuk pakan ternak dan DOC. Fokus sebagai penyedia protein hewani terjangkau di Indonesia 4
Segmen Bisnis Yang Terintegrasi UPSTREAM MIDSTREAM DOWNSTREAM PAKAN PEMBIBITAN PETERNAKAN KOMERSIAL PEMROSESAN DIVISI PERUNGGASAN DIVISI PETERNAKAN SAPI POTONG DIVISI BUDIDAYA PERAIRAN 5
Divisi Perunggasan Penyumbang Terbesar Penjualan Bersih dan merupakan Fokus Utama Usaha Perseroan FY15 Kontribusi Penjualan Bersih Per Segmen Usaha FY14 Kontribusi Penjualan Bersih Per Segmen Usaha Divisi Perunggasan: 85% dari total Divisi Perunggasan: 86% dari total Total Penjualan Bersih FY15: Rp. 25,0 Triliun Total Penjualan Bersih FY14 : Rp. 24,5 Triliun Diversifikasi bisnis dengan fokus yang jelas di bidang perunggasan, didukung oleh keahlian Perseroan dan keadaan industri perunggasan yang dinamis Catatan: Konstribusi penjualan per segmen usaha diatas adalah berdsarkan penjualan kotor, dimana tidak termasuk penyeseuaian eliminasi antar segmen. 6
Kilas Balik 2015 Pertumbuhan ekonomi Indonesia tahun 2015 tidak sesuai dengan yang diharapkan. Melambatnya pertumbuhan ekonomi global serta menguatnya nilai tukar dolar Amerika Serikat terhadap Rupiah sangat mempengaruhi pertumbuhan ekonomi Indonesia dan mengakibatkan menurunnya daya beli masyarakat. Meskipun mulai menguat kembali pada triwulan ke-4 tahun 2015, nilai tukar Rupiah di akhir tahun mengalami penurunan dibandingkan dengan awal tahun. Industri peternakan pada tahun 2015 menghadapi sejumlah persoalan yang cukup pelik. Di bidang perunggasan, terjadi kelebihan pasokan (oversupply) Day Old Chick (DOC) yang mengakibatkan penurunan harga DOC dan unggas dalam semester pertama tahun 2015. Pada semester pertama 2015, industri perunggasan nasional berada dalam kondisi terburuk sejak krisis ekonomi tahun 1998. Perseroan juga dihadapkan pada persoalan kelangkaan jagung yang terjadi pada tahun 2015. Kendati demikian, pada semester kedua, industri perunggasan membukukan peningkatan. Secara keseluruhan, bisnis perunggasan terintegrasi Japfa (Perseroan) di Indonesia mencatat keuntungan di tahun 2015, dimana divisi pakan (feed) menyumbang laba operasi yang stabil dan membantu mengurangi pengaruh rugi operasi dari divisi breeding (DOC). Dalam hal kinerja operasional, Perseroan masih merupakan salah satu pemain yang paling efisien di bidang perunggasan di Indonesia. Kami tetap yakin akan prospek jangka panjang dan pertumbuhan industri perunggasan di Indonesia. 8
Ikhtisar Keuangan PENJUALAN BERSIH (Rp. Milyar) LABA KOTOR (Rp. Milyar) EBITDA (Rp. Milyar) LABA BERSIH (Rp. Milyar) Catatan: Berdasarkan Lapkeu FY2015 Perseroan 10
Ikhtisar Keuangan JUMLAH ASET (Rp. Milyar) HUTANG/EKUITAS BELANJA MODAL (CAPEX) (Rp. Milyar) Catatan: Berdasarkan Lapkeu FY2015 Perseroan 11
Tantangan & Strategi Ke Depan Tantangan Perekonomian Indonesia tahun 2016 diperkirakan belum akan membaik, antara lain dalam hal pertumbuhan permintaan konsumen yang masih flat. Harga-harga komoditas dan tambang diperkirakan belum recover di tahun 2016. Ini semua akan mempengaruhi pertumbuhan ekonomi makro di tahun 2016, yang dampaknya juga akan berpengaruh terhadap kinerja Perseroan. Strategi Ke Depan 1. Perseroan telah mengurangi rencana belanja modal (capex) sejak tahun 2015. 2. Perseroan terus melakukan lindung nilai (hedging) terhadap bunga obligasi Dolar Amerika Serikat yang diterbitkan Perseroan. 3. Perseroan melakukan operational hedging untuk pembayaran bahan baku pakan ternak berjangka waktu 2-3 bulan ke depan. 4. Menyediakan persediaan uang tunai dalam bentuk Dolar Amerika Serikat. 5. Perseroan akan terus fokus dalam meningkatkan efisiensi dan profitabilitas, termasuk memperbaiki efisiensi dalam hal modal kerja. 13
Wilayah Kerja Perseroan Note: : Japfa memiliki 65 peternakan pembibitan ayam dan tidak semuanya bisa digambar di peta. 15
Content Company Overview Operational Performance Financial Highlights Challenges & Strategies Appendix 2
An Introduction To Japfa Tbk Vertically integrated agriculture Company One of the largest poultry players in Indonesia with net sales of Rp25.01 trillion and EBITDA of Rp2.3 trillion in 2015. Strategically involved in aquaculture and beef offering diversification of revenues. Listed on IDX for over 20 years with a market cap of Rp6.8 trillion as of 31 December 2015. Focus on Indonesia, an attractive animal protein market with high growth potential. Leading market share and growth Japfa has maintained solid market share over the past 30 years of operations. Economies of scale providing advantages in terms of raw material purchases and cost efficiencies. Deep geographical reach to be closer to customer base and raw material suppliers. Strong historical net sales CAGR growth of 15.5% from 2007-2015. Japfa has the second largest market share for poultry feed and DOC. Focused on producing affordable animal protein in Indonesia 4
Core Competencies Across The Value Chain 6
Poultry Contributes Bulk of Revenue and is our Core Business Focus FY15 Sales Contribution Per Segment FY14 Sales Contribution Per Segment Poultry: 85% of total Poultry: 86% of total Total FY15 Revenue : Rp. 25.0 Trillion Total FY14 Revenue : Rp. 24.5 Trillion Note: Diversified business with a clear focus on the poultry sector given our expertise and industry dynamics The % sales contributions from operational segments shown above are based on gross sales, which exclude elimination adjustments between segments. 6
Flashback of 2015 Indonesia s economic growth in 2015 did not meet expectations. A global economic slowdown and the strengthening of the US Dollar exchange rate have greatly impacted Indonesia s economic growth and impacted general purchasing power. Although the rupiah exchange rate started to recover in the fourth quarter of 2015, the year end exchange rate was weaker than the start of the year. The industry in 2015 faced a number of critical issues. In the poultry business, the Day Old Chick (DOC) oversupply led to a decrease of DOC and livebird prices during the first semester 2015. In the first semester of 2015, the national poultry industry was in its worst condition since the Indonesian economic crisis in 1998. However, in the second semester, the poultry industry recorded an improvement. Overall, our integrated Poultry operations in Indonesia were profitable in 2015, as feed generated a stable operating profit, mitigating the impact of the operating losses in DOCs. In terms of operational performance, the Company remains one of the most efficient poultry operators in Indonesia. We remain confident of the long term prospects and growth of the poultry industry in Indonesia. 8
Proven Financial Track Record Net Revenues (In IDR billion) Gross Profit (In IDR billion) EBITDA (In IDR billion) Net Profit (In IDR billion) Note: Based on Company s FY2015 Financial Results 10
Proven financial track record Total Assets (In IDR billion) Net Debt / Equity CAPEX (In IDR billion) Note: Based on Company s FY2015 Financial Results 11
Challenges & Strategies Challenges Indonesian economy in 2016 is predicted not to improve, including a flat consumer demand growth. Commodity and mining prices are expected not to recover in 2016. This all will affect the macro economic growth in 2016 and in turn bring impact on the Company s performance. Strategies 1. Company has scaled back its capital expenditure (capex) plans since 2015. 2. Company continues to hedge interest payment of USD bonds. 3. Company performs operational hedging by purchasing feed s raw materials for the next 2-3 months. 4. Company ensures the availability of cash in US Dollar. 5. Company continues to focus on enhancing its operational efficiency and profitability, including improving working capital efficiencies. 13
Pan-national distribution platform Note: Japfa has 65 breeding farms and not all the farms are reflected on the map. 15