MANAGEMENT PRESENTATION PT Adhi Karya (Persero) Tbk. Jakarta September 2015 1
MILESTONE 1960 1974 2004 July 2011 PN Adhi Karya nationalized from Dutch Company Associate N.V. PN Adhi Karya changed to PT Adhi Karya (Persero) PT Adhi Karya (Persero) Go Public 18 March 2004 ADHI, first SOE Construction to be listed in IDX TRANSFORMATION OF ADHI: Changing Vision & Mission RJPP 2012-2016, 5 Lines of Business [CONSTRUCTION, EPC, PROPERTY, REALTY, INVESTMENT INFRASTRUCTURE] Organization Restructure Establishment of ADHI Learning Center Corporate Value: Work Smart Responsible Honesty Corporate Culture Modest 2015 2014 2013 2012 Acquire the approval for Government additional equity injection (PMN) Subsidiaries Establishment MoU (Consortium Transportasi Massal BUMN) Grandhika Blok M Hotel Precast Factory Subsidiaries Establishment 2
LINE OF BUSINESS CONSTRUCTION Building Airport Seaport Road & Bridges Watery Works Railway EPC Power Plant Industry Oil & Gas PROPERTY & REALTY Apartment Offices Condotel HOTEL Grandhika Hotel INVESTMENT Precast Concrete Transportation IPP PT APG PMU Power 1, Oil&Gas PT APP Hotel Division PT APB Construction Division 1-7 PMU Power 2, IPP Divison Property TOD LRT Division PMU RFCC SPC IPP 3
Operational Performance TENDER RATE 60,000 50,000 40,000 30,000 20,000 10,000 33% 46,782 47,921 45,841 28% 25% 32,634 33,391 21% 17% 8,132 11,927 9,604 10,854 9,218 2010 2011 2012 2013 2014 Tender Bid (IDR) Tender Won (IDR) Competitive Rate (%) 35% 30% 25% 20% 15% 10% 5% 0% 25,000 20,000 15,000 10,000 5,000 41.18% 8,132 Realisasi s.d. Agustus 2015 35.49% 11,927 5,648 6,940 37.79% 46.15% 9,604 10,854 48.18% 9,218 10,580 10,380 8,745 ORDER BOOK 2010 2011 2012 2013 2014 Carry Over New Contract Sales per Order Book Ratio 60.00% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00% JENIS PEKERJAAN Gedung 60% Infrastruktur Lainnya 9% Dermaga 3% Jalan & Jembatan 28% Total Tender yang diikuti : 38.255 M Hit Rate : 28.0% Tender Sudah Kontrak : 7.863 M Penetapan Pemenang : 1.524 M Tender Terendah : 1.290 M Jumlah : 10.678 M APBN 25% SUMBER DANA APBD 19% BUMN 13% Swasta/Lainnya 43% 4
Financial Summary In billion IDR 12,000 10,000 8,000 6,000 4,000 2,000 In billion IDR 1400 1200 5,675 6,695 Revenue 7,628 9,799 EBITDA and EBITDA Margin 8,653 3,212 2010 2011 2012 2013 2014 Jun 15 9.92% 8.39% 10.46% 9.50% 7.83% 5.92% 14.00% 12.00% In billion IDR 1,800 1,600 1,400 1,200 1,000 800 600 400 200 In billion IDR 600 500 Gross Profit and Gross Profit Margin 12.52% 10.97% 12.53% 12.18% 11.54% 10.12% 710 734 955 1,193 998 Net Income and Net Profit Margin 325 2010 2011 2012 2013 2014 Jun 15 3.33% 2.72% 2.78% 4.14% 3.80% 2.19% 18.00% 16.00% 14.00% 12.00% 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% 6.00% 5.00% 1000 10.00% 400 4.00% 800 600 400 200 0 931 798 563 562 678 190 2010 2011 2012 2013 2014 Jun 15 8.00% 6.00% 4.00% 2.00% 0.00% 300 200 100 0 406 329 189 182 212 70 2010 2011 2012 2013 2014 Jun 15 3.00% 2.00% 1.00% 0.00% 5
TOTAL ASSETS, LIABILITY & EQUITY 14,000 12,000 10,000 8,000 6,000 4,000 2,000 Total Assets 4,928 868 4,060 Total Assets 6,113 990 5,123 Total Assets 7,872 1,077 6,795 Total Assets 9,721 1,460 8,261 Total Assets 10,459 1,641 8,818 Total Assets 11,609 1,615 9,994 2010 2011 2012 2013 2014 Jun 15 Total Liability Total Equity 6
Indicative Offering Structure Rights Issue Key indicative terms Issuer Entitlement ratio Number of rights shares to be issued Rights price range Rights offer size Offering Format Undertaking shareholder Joint Lead Managers & Standby Purchasers Use of proceeds PT Adhi Karya (Persero) Tbk. ( ADHI ) Renounceable 100,920 rights shares for every 100,000 existing share 1,143,757,141 to 1,817,892,144 shares or 38.8% 50.2% of enlarged capital IDR1,510 IDR2,400 per share Up to IDR2.745 trn (c,us$225 m) Republic of Indonesia portion : IDR1.400 trillion Public portion : IDR1.345 trillion OJK Registered format with : Republic of Indonesia undertaking to fully subscribe for its pro rate stake of 51.0% ownership Joint Lead Managers to act as standby purchasers for unsubscribed rights Republic of Indonesia (51.0% of the rights shares) PT Bahana Securities, PT Danareksa Sekuritas, PT Mandiri Sekuritas (for the remaining 49.0% rights shares) Railway based mass transportation project (LRT) including its stations and property projects 7
Indicative Timetable Rights Issue Pricing date 14 September 2015 ADHI s EGMS date 22 September 2015 Cum date (Regular & Negotiation Market) 30 September 2015 Recording date 05 October 2015 Listing date 07 October 2015 Trading of rights date 13 16 October 2015 Allocation date 19 October 2015 Settlement of excess rights (rump) shares 26 October 2015 8
THE INNER CITY TRANSPORTATION LIGHT RAIL TRANSIT INDONESIA Tr a n s p o r t a s i M a s s a l B e r b a s i s Re l J a b o d e t a b e k 9
Landasan Hukum Peraturan Presiden Nomor 98 tanggal 2 September 2015 TENTANG : PERCEPATAN PENYELENGGARAAN KERETA API RINGAN/ LIGHT RAIL TRANSIT TERINTEGRASI DI WILAYAH JAKARTA, BOGOR, DEPOK, DAN BEKASI Pemerintah menugaskan ADHI untuk membangun PRASARANA Kereta Api Ringan/ LRT terintegrasi untuk lintas pelayanan : Cawang Cibubur Cawang Kuningan Dukuh Atas Cawang Bekasi Timur Dukuh Atas Palmerah Senayan Cibubur Bogor Palmerah Grogol Lintas Pelayanan lainnya yang ditetapkan dengan Peraturan Menteri Perhubungan Scope Pekerjaan PRASARANA meliputi : Jalur, termasuk konstruksi layang Stasiun Fasilitas operasi 10
Peta Lintas Pelayanan LRT KABUPATEN TANGERANG KOTA TANGERANG PROVINSI DKI JAKARTA KABUPATEN BEKASI KOTA TANGERANG SELATAN Sta. Taman Mini KOTA BEKASI Sta. Kp. Rambutan Sta. Ciracas Sta. Cibubur KOTA DEPOK Sta. Cibinong Sta. Sentul Sirkuit KABUPATEN BOGOR KOTA BOGOR Sta. Sentul City Sta. Baranangsiang 11
KAPASITAS DAN WAKTU TEMPUH LIGHT RAIL TRANSIT (LRT) Cibubur- Cawang Cawang- Dukuh Atas Cawang- Bekasi Timur Dukuh Atas- Palmerah- Senayan Cibubur- Bogor Palmerah- Bogor Panjang (km) 13.7 10.5 17.9 5.5 30.5 5.5 PPHPD (Passenger per Hour per Direction) 12,000 24,000 12,000 24,000 24,000 24,000 Waktu Tempuh (menit) 21 18 27 12 37 12 Jumlah Stasiun 5 7 5 3 4 5 12
PT Adhi Karya (Persero) Tbk. THANK YOU Visit us at www.adhi.co.id For further information please contact: Ki Syahgolang Permata, Corporate Secretary P. +62 21 797 5312 F. +62 21 797 5311 E. adhi@adhi.co.id Disclaimer: Important Notice This document was prepared solely and exclusively for the parties presently being invited for the purpose of discussion. Neither this document nor any of its content may be reproduced, disclosed or used without the prior written consent of PT Adhi Karya (Persero) Tbk. This document may contain statements that convey future oriented expectations which represent the Company s present views on the probable future events and financial plans. Such views are presented on the basis of current assumptions, are exposed to various risks and are subject to considerable changes at any time. Presented assumptions are presumed correct, and based on the data available on the date, which this document is assembled. The company warrants no assurance that such outlook will, in part of as a whole, eventually be materialized. Actual results may diverge significantly from those projected. The information in this document is subject to change without notice, its accuracy is not verified or guaranteed, it may be incomplete or condensed and it may not contain all material information concerning the Company. None of the Company, PT Adhi Karya (Persero) Tbk. or any person connected with any of them accepts any liability whatsoever for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection therewith. 13