analyst meeting

22 August 2008

ANALYST MEETING

PT. Sierad Produce, Tbk

DISCLAIMERWe remind all investors that the statements and figures contained herein have not been independently verified. No representation or warranty expressed or implied is made as to, & no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinion contained herein. The Company’s reasonable judgment on its forward-looking views is subject to changes caused by unforeseeable risks and other uncertainties that could affect the Company’s business.This document is being furnished to you solely for your information and on confidential basis & may not be reproduced, redistributed or passed on, in whole or in part, to any other person.

2

1. INTRODUCTION2. INDUSTRY OUTLOOK3. FINANCIAL HIGHLIGHTS

PT Sierad Produce, Tbk

Feedmill Breeding & Hatchery

Contract Growing Slaughterhouse SBU

Capacity

Location

1500 ton / day 800.000 ton / year 105 million DOC / year + 900.000 DOC / week (as of Jul 2008)

• Slaughtering: 60.000 birds/day• Cold storage : 1200 ton

• Lampung • Sidoardjo

• Lampung • Sidoardjo• Balaraja, Tangerang

• Sukabumi (7 F + 1 H)• Bogor (3 F + 1 H)• Tangerang (1 F)• Lamongan (1 F + 1H)

• Jawa Barat & Banten• Jawa Tengah & Jogjakarta• Jawa Timur & Bali

Parung, Bogor

Corn Drying

COVERAGE AREAS

THE COMPANY

4

OTHER BUSINESSESPT Sierad Industries (Cikande – Serang)

– Plastic Based Poultry EquipmentPT Dwipamina Nusantara (Bali) –

Fishmeal Production

5

Breeder/Laying Farm

Pullets become productive at 25 weeks

HatcheryEggs are in

hatchery for 21 days

Broiler FarmBroilers reach market

weight in about 36 days

Processing / Further-

Processing Plant

FeedmillProduces scientifically

formulated feed for pullets & broilers

Receiving ParentStock Day

Old Chick

POULTRY SUPPLY CHAIN

Distribution

6

*

Incorporated06 Sep1985

IPO, 27 Dec 1996Merger, 2001

Debt to Equity/CB/Resched

uling Lease Finance Debt

Oct 2001

Financial Restructuring 1997 - 2000

Reverse Stock SplitOct 2004

Debt to Equity

May 2005

CORPORATE MILESTONE

7

CAPITAL STRUCTURE

Shareholder Number of Nominal Total % Shares (Rp) (Rp)

PT Sietek Nusantara Finance - A Series 20.018.500 5.000 100.092.500.000 3,14%Public - A Series 53.081.400 5.000 265.407.000.000 8,33%

Public (Ex Creditors) - B Series 650.686.609 3.000 1.952.059.827.000 61,30%Public (Ex Bondholders) - C Series 7.346.666.667 100 734.666.666.700 23,07%

Public (Ex Lessors) - C Series 1.320.655.317 100 132.065.531.700 4,15%Total 9.391.108.493 3.184.291.525.400 100,00%

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1. INTRODUCTION2. INDUSTRY OUTLOOK3. FINANCIAL HIGHLIGHTS

CHICKEN CONSUMPTION

10

Meat Eggs0

100

200

300

400

4.5

6738.5

311

2864

7.5

105

Chicken Consumption Per Capita /KG / Annum

Indonesia Malaysia Singapore ASEAN

Source : FAO 2007

GDP vs. CHICKEN CONSUMPTION

0

50

100

150

200

250

300

350

400

1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

Year

GDP

(BLN

USD

)

0

0.5

1

1.5

2

2.5

3

3.5

4

4.5

5

Broi

ler m

eat c

onsu

mpti

on/c

apita

/yea

r

11

CORN PRICE

Jan-06

Mar-06

May-06

Jul-06

Sep-0

6Nov

-06Jan

-07Mar-

07

May-07

Jul-07

Sep-0

7Nov

-07Jan

-08Mar-

08

May-08

0

500

1000

1500

2000

2500

3000

3500

4000

Local CornImport Corn

Pric

e (R

p)

12

SBM PRICE

Jan-06

Mar-06

May-06

Jul-06

Sep-0

6

Nov-06

Jan-07

Mar-07

May-07

Jul-07

Sep-0

7

Nov-07

Jan-08

Mar-08

May-08

Jul-08

$0

$100

$200

$300

$400

$500

$600

$700Pr

ice

13

DOC AND LIVE BIRD PRICE

14

01-Ja

n-06

03-M

ar-0

6

03-M

ay-06

03-Ju

l-06

02-S

ep-06

02-N

ov-06

02-Ja

n-07

04-M

ar-0

7

04-M

ay-07

04-Ju

l-07

03-S

ep-07

03-N

ov-07

03-Ja

n-08

04-M

ar-0

8

04-M

ay-08

04-Ju

l-08

-

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

DOC BroilerDOC LayerLive Bird

Pric

e (R

p)

1. INTRODUCTION2. INDUSTRY OUTLOOK3. FINANCIAL HIGHLIGHTS

FINANCIAL HIGHLIGHTS

2004 2005 2006 2007 1H 2008

(69) (85)

68 49

63

Operating Income(Rp billions)

2004 2005 2006 2007 1H 2008

(154) (122)

41 21 33

Net Income(Rp billions)

2004 2005 2006 2007 1H 2008

11

(46)

104 83 83

EBITDA(Rp billions)

2004 2005 2006 2007 1H 2008

1,354 1,425 1,111

1,632

1,090

Net Sales(Rp billions)

16

TARGET 2008  2008 (F) 2007 1H 2008 1H 2007

Net Sales 2.000 1.632 1.090 683

EBITDA 120 83 83 36

Net Income 46 21 33 13

17

FINANCIAL HIGHLIGHTSFINANCIAL HIGHLIGHTS 1H 2008 1H 2007 ∆ %( Rp billions)      

Net Sales 1.090 683 60

Gross Profit 124 68 83

Operating Income 63 19 239

EBITDA 83 36 130

Earnings Before Tax 51 20 162

Net Income 33 13 150

EPS (Rp /share) 4 1 150

Equity 1.039 998 4

Total Assets 1.399 1.143 22

Ratios      

Current Ratio 228 367 (38)

Debt to Equity 35 15 138

Debt to Total Assets 26 13 102

Book Value Per Share (Rp) 111 106 4 18

REVENUE CONTRIBUTIONS

Feedmill; 57%

Breed-ing; 14%

Contract Growing;

26%

S.house; 2% Others; 0%

19

PRODUCTION VOLUME

20 1H 2008 VS 1H 2007

24.6%

0.6%

23.7%

Feeds DOC Live Bird

15%

Dressed Chicken

EXPANSION PLANAdditional + 40 flocks (Breeding Farm)

Broiler Central Java + 450.000 DOC /week

Layer West Java + 115.000 DOC / weekHatchery (24 machines) Central Java

+ 670.000 DOC / weekInvestment Cost = Rp 310 billions

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OTHERSIncrease population in Kemitraan

captive marketExtend the Vertical Integration ChainDelfarm Meat Shop Project

22 22

TERIMA KASIH

Untuk Informasi Lebih Lanjut Hubungi:

PT Sierad Produce TbkGedung Plaza City View, Lantai 1Jl. Kemang Timur No. 22, JakartaTel. 021 - 719 3888, Fax. 021 719 3889Up. Elies Lestari Setiawan - Corporate Secretary