Beruflich Dokumente
Kultur Dokumente
BNN
INDONESIAS CEMENT INDUSTRY: NOW and THE FUTURE
SMGR Corporate Presentation
JUNE 2015
CEMENT INDUSTRY AT A GLANCE
2
Kuala
Lumpur
Singapore
1
1
SMGR
3
1 6
4 7
5 DOMESTIC CAPACITY (2015)
kg/capita
kg
2,000
1,819
1,800
1,600
1,400
1,200 1,104
1,000
800 734
400
238 208 203
200
0
Si
Vi
In
Ph
Ch
Th
In
al
ng
et
do
di
ili
ai
in
ay
na
a
p
a
la
ne
a
pi
po
si
nd
m
si
ne
a
re
s
Source: Deutsche, Indonesia Cement Association
INDONESIAS ECONOMY AND DOMESTIC CEMENT CONSUMPTION GROWTH
(mio tons)
Cement growth % (RHS)
Domestic consumption (LHS) GDP growth % (RHS)
60.0 17.7% 20.0%
60.0
58.0
50.0 54.9
14.5%
11.5% 48.0
40.0
40.8
9.7% 38.1
34.2 39.1
30.0 10.0%
31.5 32.1
30.2
27.2 27.5 6.3% 6.10%
20.0 5.8% 5.4% 6.50% 5.10% 5.40%
5.1% 5.6% 4.60% 22.8
6.80%
6.1% 6.0% 5.5%
6.6%
10.0 4.7% 5.70%
4.4% 4.2% 3.3%
Growth Growth Growth
Growth Growth Growth 2.5% Growth
1.1% :
0.0 : : 1.8% : : : : 0.0%
-30.0 -10.0%
40 39.2
35 34.2
32.8
32.2
30 28.2
26.9
25.2 25.5
25 22.7 23.7 23.7
21.0
20.0
20 18.1
16.9 17.8
15
10.8 12.2 13
10 8.8
6.6
6.5 6.0 6.0 5.9 6.2
5.0 5.1
5 3.0 3.5 3.8 4.9
2.3
1.0 1.9
0
1997 1999 2001 2003 2005 2007 2009 2011 2013 5M2015
Bulk Ready
Ready-mix (infrastructure): 60%
22%
Fabricator (pre-cast,
(pre fiber cement, cement based industry): 35%
JUNE 2015
MARKET BY GEOGRAPHY
1
ST Sumatera
Sumatera Kalimantan
5 21.3% Java
SG Java
21.2%
%
57.5.%
55.6%
TOTAL
43.3 29.1 13
3.7 5.3 3.1 2.3 0.3 2.5
INDONESIA
MARKET UPDATE - Cement Consumption 5M2015
5M2015 - SMGR Sales Volume (million tons) 5M2015 Domestic Consumption (mio tons)
DESCRIPTION 5M2014 5M2015 CHANGE (%) AREA 5M2014 5M2015 CHANGE (%)
Jakarta 2,369,820 2,205,871 (6.9)
DOMESTIC 10,467,232 9,913,735 (5.3)
Banten 1,276,761 1,298,182 1.7
Semen Indonesia 5,648,678 5,366,198 (5.0)
West Java 3,575,296 3,277,570 (8.3)
Semen Padang 2,723,628 2,465,747 (9.5)
Central Java 2,544,369 2,552,779 0.3
Semen Tonasa 2,094,926 2,081,790 (0.6)
Yogyakarta 389,026 357,609 (8.1)
EXPORT 22,155 184,181 731.3
East Java 3,132,778 3,031,792 (3.2)
GRAND TOTAL 10,489,387 10,097,916 (3.7) Total Java 13,288,051 12,723,804 (4.2)
JUNE 2015
SMGR IS THE #1 CEMENT COMPANY IN INDONESIA
BRIEF HISTORY
1957 : Inauguration of Gresik I, installed capacity of 250,000 ton cement per annum
1991 : Initial Public Offering, Market Cap.: IDR0.63tn, resulting shareholding structure post IPO:
Government of Republic of Indonesia: 73%
Public: 27%
1995 : Acquisition of PT Semen Padang (Persero)) and PT Semen Tonasa (Persero)
1998 : Cemex became a strategic partner, Market Cap.: IDR4.9tn
2006 : Blue Valley Holdings bought Cemexs 24.9% stake in SMGR, Market Cap.: IDR21.5tn
2010 : In March 31, Blue Valley Holdings sold all of its stake ownership in SMGR, Market Cap per April 30, 2010: IDR72.1tn
2011 : Total installed capacity of 20.00mm
0mm tons, Market Cap per June 29, 2012: IDR67.0tn
2012 : Acquisition of Thang Long Cement Vietnam, Total otal installed capacity of 2.3mm tons, Market Cap Dec 19th, 2012: IDR91.9tn
5,0
_ _ _ _ _ _
0,0
19 5
86
90
19 5
98
20 6
20 7
20 9
70
80
19 4
19 7
20 8
20 0
20 1
20 2
13
57
19 -
19 -
19 -
19 -
19 -
20 -
8
0
8
0
9
1
1
1
19
FOCUS IN CORE BUSINESS
OWNERSHIP STRUCTURE1
As of Jan, 2014
REGIONAL CEMENT PLAYERS
SMGR Corporate Presentation
JUNE 2015
COMPETITIVENESS OF SEMEN INDONESIA
Kiln 1 unit
Cement
1 unit
Mill Integrated Cement Plant 4 location
Kiln 13 Unit
Cement Mill 22 Unit
Grinding Plant 2 location
Cement Mill 4 Unit
Grinding 1 unit Cement
Plant Mill Warehouse 30 location
Packing Plant 23 location
Sea Port 12 location
Kiln 4 unit
Cement
6 unit
Mill
Kiln 1 unit
Cement Grinding 1 unit Cement
1 unit
Mill Plant Mill
Kiln 4 unit
Cement
6 unit
Kiln 4 unit Mill
Cement
6 unit
Mill
Kiln 4 unit
Grindin 3 unit Cement
Cement g Plant Mill
9 unit
Mill
FINANCIAL UPDATE
SMGR Corporate Presentation
JUNE 2015
FINANCIAL SUMMARY: 1Q2015 RESULTS
Description Change
1Q2014 1Q2015 (%)
(Rpbn) EBITDA (Rp billion)
Revenue 6,178 6,340 2,6 2,250 1,998
2,000 1,862 1,850
Cost of revenue 1,750
3,483 3,781 8,5 1,410
1,500 1,185
1,250
Gross profit 2,695 2,560 -5,0 1,000
750
Operating expenses 995 1,070 7,6 500
250
Operating income 1,700 1,489 -12,4 3M-11 3M-12 3M-13 3M-14 3M-15
2010 2011 2012 2013 2014 1Q2014 2010 2011 2012 2013 2014 1Q2014
JUNE 2015
SMGR LONG TERM STRATEGIC FOCUS
Installed Capacity
41.8
38.3 38.3
31.8 32.3
30
25.3
20.2
19 19
18
17.1
2007 2008 2009 2010 2011 2012 2013 2014 2015F 2016F 2017F 2018F
CONCLUSION: WHY SMGR?
SMGR Corporate Presentation
JUNE 2015
SMGRs COMPARATIVE & COMPETITIVE ADVANTAGE DRIVES
DRIVE SMGR TO
BE THE MARKET LEADER IN INDONESIA