company update - web.waskitaprecast.co.id

PT Waskita Beton Precast Tbk

Company Update

PT. WASKITA BETON PRECAST, Tbk2Q - 2018


Who We Are

Karawang Plant (2016)

2


Organization Structure

3

PT Waskita Karya (Persero) Tbk

59.99%


99.99%

PT Waskita Karya Realty

77.11%

PT Waskita Toll Road

PT Waskita Karya Energi

99.99%


VisionTo Become Leading Company In Indonesia In Manufacturing

Sector of Precast, Readymix, Quarry, Construction Service And Post-tension Precast Concrete

Establishment of Precast Division

Establishment of PT WaskitaBeton Precast as subsidiary

October 2014

2013

20142015

2016

IPO PT Waskita BetonPrecast Tbk

September 2016

0.62

0.80

1.802.65

5x

We have grown significantly since our first inception in 2013

Public

59.99% 40.01%

2017

3.25

MSCIMay 2017

X

3.75

2018

Precast Division

Production Capacity (Million Ton per Year)

LQ-45 & Kompas 100

January 2018

IDX Top 10 Blue

May 2018 Buyback 7%Jul – Dec 2017

1H : 3.50


Precast Readymix

Construction Services

Cibitung(350,000 ton)

Sidoarjo(400,000 ton)

Palembang(200,000 ton)

Kalijati(250,000 ton)

Karawang(450,000 ton)

Bojonegara(350,000 ton)

Subang(350,000 ton)

Klaten(150,000 ton)

Sadang(375,000 ton)

Gasing(350,000 ton)

Legundi(275,000 ton)

Plant (11) Batching Plant (58)

5

Our main products are Precast and Readymix Concrete

57%

30%

13%

Jabodetabek1. Becakayu2. Cakung3. Desari4. Karawaci5. Bocimi 2,36. Japek 1,37. Kunciran – serpong8. Kunciran – parigi9. Cinere – serpong10. Cctw 211. Cibitung – cilincing

Grup PPKA1. Sedomulyo2. Kayuagung 1,2

Sumatera1. Lampung2. Jakabaring 2,33. Bandar agung4. Gunung batin5. Wonokerto

Grup PPTR1. Balamoa 2

Grup PBTR1. Petarukan2. Bojong3. Warung Asem

Grup BSTR1. Kandeman2. Tulis3. Gringsing4. Sumberagung5. Pegandon6. Rejosari7. Kaliwungu 1,28. Ngaliyan

Grup Soker1. Masaran2. Banaran3. walikukun

Grup Paspro1. Muneng 1,22. Tongas3. Grati 14. Leces

Grup Salboy1. Tingkir2. Ampel3. Boyolali4. Banyudono

Grup Legundi1. Legundi2. Tanjung3. boboh4. Tebaloan

6. Menggala7. Bujung dewa8. Gilang tunggal9. Wonorejo10. Bumi harapan11. Srigedungmulya12. Simpang

pematang


We have developed a number of Product LineupP

rod

uk

Pre

cast

L GUTTERU DITCH CCSP U GUTTER DIAFRAGMA WALLFCSP

BOX GIRDER PCI GIRDER

PCU GIRDER

PCT GIRDER SPUN PILE 60cmSQUARE PILE

RC PLATE BARRIER HALF SLABFULL SLAB VOIDED SLAB

SPUN PILE 1,2m

K100 – K1000Pro

du

k R

ead

ymix

6


800,000

1,800,000

2,650,000

3,250,000

3,750,000

58%

64%

70%70.93%

40%

45%

50%

55%

60%

65%

70%

75%

-

800,000

1,600,000

2,400,000

3,200,000

4,000,000

2014 2015 2016 2017 2018F

Precast Production Volume as per July 2018 : 848,600 Ton

Precast Capacity & Utility

• In 2017, plant’s capacity and precastproduction is 4 times from 2014

• Our production Capicity Now Is 3,250,000Ton / Year

Precast Volume Production

‘14-’17CAGR 64%

‘14-’17CAGR 60%

Capacity expansion ensures our future growth

7

463,200

1,160,000

1,561,229

2,056,983

848,600

2014 2015 2016 2017 2018 7M


Becakayu (December - 2017)

Our Competitive Edge

8


Synergy with WSKT Group has given us competitive advantages

9

Tahun 2014 2015 2016 2017 2018F

(IDR) 4.1 T 2.6 T 12.2 T 11 T POTENTIALS

Projects

Bekasi-Cawang-Kp.Melayu(Becakayu Seksi 1-2)

Pejagan Pemalang(Seksi 3)

Pejagan Pemalang (Seksi 4) Cinere -SerpongTol Tebing Tinggi – PematangSiantar

Pejagan Pemalang (Seksi 1-2)

Kuala Tanjung Port Cimanggis Cibitung Paket 2 Legundi - Bunder KLBM (Tambahan)

Depok - Antasari Tollroad MKTT Pemalang BatangTerbanggi Besar – Kayu Agung

Jembatan Penajam

Solo - Ngawi (Seksi 1-2)

Batang SemarangPematang Panggang KayuAgung (PPKA)

Probowangi

Ngawi Kertosono Bogor Ciawi 2 – 4 Kediri – Kertosono Japek SelatanCimanggis CibitungPaket 1

LRT – PalembangCileunyi – sumedang –dawuan (Cisumdawu)

Kediri-Kertosono

Legundi – Bunder Jakarta - Cikampek Bandara Kulon Progo

Kayu Agung- Palembang –Betung

Gempol - Porong Teluk Lamong

Pasuruan – Probolinggo Cibitung - Cilincing RDMP V Balikpapan


4,4085,870

15,051

21,208

14,607

2014 2015 2016 2017 7M18

Obtains higher marketing performance

10

(In Rp Billion)

• New Contract per end of July 2018: Rp3.93 Trilion

Orderbook as per July 2018 : Rp14.61 Trilion (including carry over 2017 of Rp 10.68 Trilion)

New Contract Orderbook

4,099

2,655

12,227

11,032

3,927

2014 2015 2016 2017 7M18

*


These competitive edges are reflected in our contract achievement

11

No Project in 2018 Value (Rp Bn)

1 Tol Cibitung – Cilincing, Full Slab dan Spun Pile 1,125.83

2 Proyek Terbanggi Besar – Kayu Agung 354.84

3 Tol Tebing Tinggi Indrapura 325.00

4 Tol Semarang Batang 261.19

5 Proyek JTTS Pekanbaru 241.61

6 Tol Krasakan-Probolinggo 212.31

7 NCICD – Spun pile 121.95

No Project in 2017 Value (Rp Bn)

1 Tol Batang - Semarang seksi 1-5, Precast & Readymix 1,651.46

2 Tol Pematang Panggang - Kayu Agung, Readymix, PCI Girder, Spun pile, Full Slab 1,436.36

3 Tol Krian-Legundi Bunder-Manyar, Readymix, PCI Girder & Spun Pile 1,032.06

4 Tol Jakarta - Cikampek II (Elevated), Precast & Readymix 959.47

5 Tol Becakayu seksi 2D, Precast & Readymix 664.21

6 Tol Cibitung Cilincing , Precast & Readymix 643.12

7 Tol Pejagan Pemalang seksi IV, Precast & Readymix 462.86

8 LRT Palembang, Readymix 441.19


Quarry Mixer Truck

We own majority of our Mixer Trucks in operation for Readymix

Concrete to provide better operating margin

Location

Bojanegara, Cilegon

Pasuruan, Lumbang

Rumpin, Bogor

Salatiga, Boyolali

Talun, Pekalongan

Efficiencies are pushed forward to support better margin

12


Performance Delivered Performance Delivered

13


Solo Kertosono

(90.1%)

LRT Palembang

(99.9%)

CCTW I & II

(90.8% & 27%)

Becakayu

(94.3%)

Jakarta – Cikampek Elevated

(55.4%)

Batang – Semarang

(61.3%)

Legundi – Bunder

(57.6%)

Bogor – Ciawi –Sukabumi

(57.6%)

Major Contracts

14


702

1,028

7,4067,317

874

1,861

7,5277,257

2014A 2015A 2016A 2017A 2018

FY 1H

-

761

3,356

4,988

45

2,421

3,978

5,687

2014A 2015A 2016A 2017A 2018

FY 1H

500

3,002

6,3297,603

1,178

5,551

6,760

7,443

2014A 2015A 2016A 2017A 2018

FY 1H

1,203

4,332

13,734

14,920

2,052

7,412

14,28714,700

2014A 2015A 2016A 2017A 2018

FY 1H

CAGR167%

Total Liabilities

Interest Bearing Debt

(in IDR Billion)

CAGR59%

CAGR86%

Total Asset

Total Equity

*Notes: CAGR is only for 2015-2017 audited period

Balance Sheet Position

15

CAGR156%


140

334

635

1,000

107

341 436

691

2014A 2015A 2016A 2017A 2018

FY 1H

149

451

1,230

1,908

132

589705

1,324

2014A 2015A 2016A 2017A 2018

FY 1H

495

2,225

3,498

5,156

687

1,300

1,988

2,699

2014A 2015A 2016A 2017A 2018FY 1H

642

2,644

4,717

7,104

817

1,869

2,668

3,846

2014A 2015A 2016A 2017A 2018FY 1H

Revenues Cost of Revenues

EBITDA Net Profit

(in IDR Billion)

CAGR64%

Note: • CAGR is only for 2015-2017 audited period• 2014’s figures are for the period from September to December 2014 is the Full Year Figure for the period from January to December 2014

CAGR52%

CAGR106%

CAGR73%

1,025

149

Profit and Loss Statements

16


- -

0.45

0.68

0.05

1.30

0.53

0.78

2014A 2015A 2016A 2017A 2018

FY 1H

19.98%

25.12%

8.57%

13.67%12.24%

18.32%

5.80%

9.52%

2014A 2015A 2016A 2017A 2018

FY 1H

1.96

0.41

2.32

1.521.36

0.74

2.03

1.48

2014A 2015A 2016A 2017A 2018

FY 1H

11.67%

7.72%

4.62%6.70%

5.21%4.60% 3.05%

4.70%

2014A 2015A 2016A 2017A 2018

FY 1H

Return on Equity Ratio Return on Assets Ratio

Debt to Equity Ratio Current Ratio

93%CAGR

-29%CAGR -6%CAGR

Financial Ratio

17*Notes: CAGR is only for 2015-2017 audited period

4%CAGR


(in IDR Million)

Financial Statement : Profit & Loss

18

2014A 2015A 2016A 2017A 6M 2018

Revenues 641,931 2,644,320 4,717,150 7,104,158 3,846,149

Cost of Revenues (495,226) (2,224,890) (3,497,932) (5,155,967) (2,699,116)

Gross Profit 146,705 419,430 1,219,218 1,948,191 1,147,033

Gross Profit Margin 22.85% 15.86% 25.85% 27.42% 29.82%

Operating Cost (4,802) (56,075) (106,391) (414,515) (96,937)

Operating Profit 141,903 363,355 1,112,827 1,533,676 1,050,096

Operating Profit Margin 22.11% 13.74% 23.59% 21.59% 27.30%

Other Income/expense 794 1,778 52,111 88,120 10,310

142,697 365,132 1,164,938 1,621,796 1,060,406

- (19,582) (197,594) (465,562) (214,773)

Net Profit Before Tax 142,697 345,550 967,344 1,156,234 845,633

Tax Expense/Income (2,392) (11,181) (332,525) (155,904) (154,946)

Net Profit 140,305 334,370 634,819 1,000,330 690,687

Net Profit Margin 21.86% 12.64% 13.46% 14.08% 17.96%

EBITDA 149,201 450,734 1,229,953 1,908,480 1,323,755

23.24% 17.05% 26.07% 26.86% 34.42%EBITDA Margin

Profit Before Fin Charges, Net Rev of JV &

TaxTotal Fin Charges & Net Rev of JV


Financial Statement: Financial Position

19

2014A 2015A 2016A 2017A 6M 2018

980,931 1,054,582 11,296,401 11,574,944 10,973,431

221,676 3,277,827 2,437,866 3,344,604 3,726,850

1,202,607 4,332,409 13,734,267 14,919,548 14,700,281

LIABILITAS

Total Current Liabilities 500,442 2,541,512 4,877,850 7,593,432 7,430,060

Total Non-Current Liabilities - 460,071 1,450,916 9,461 13,125 Total Liabilities 500,442 3,001,583 6,328,766 7,602,893 7,443,185

EQUITY

Total Equity 702,165 1,207,585 7,405,501 7,316,655 7,257,096

1,202,607 4,209,168 13,734,267 14,919,548 14,700,281

ASET

Total Liabilities and Equity

Total Current Assets

Total Non-Current Assets

Total Assets

(in IDR Million)


Financial Statement: Cash Flow

20

(in IDR Million)

2014A 2015A 2016A 2017A 6M 2018

Net Cash from Operations Activities (42,794) (686,135) (3,034,906) (2,413,797) 52,390

Net Cash from Investing Activities (63,829) (123,555) (833,320) (1,302,336) (438,332)

Net Cash From Financing Activities 378,844 635,655 7,975,859 538,660 (51,191)

272,221 (174,035) 4,107,634 (3,177,473) (437,133)

- 272,221 98,186 4,205,820 1,028,346

272,221 98,186 4,205,820 1,028,346 591,213 Cash and Cash Equivalents at the end of the

year

Cash and Cash Equivalents at the beginning of

the year

Net Increase/(Decrease) in Cash and Cash

Equivalents

DisclaimerThis material is for information only, and we are not soliciting any action based upon it. This report is not to be construed as an offer to sell or thesolicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal. The information herein has beenobtained from sources believed to be reliable, but we do not warrant that it is accurate or complete, and it should not be relied upon as such.Opinion expressed is our current opinion as of the date appearing on this material only, and subject to change without notice. It is intended for theuse by recipient only and may not be reproduced or copied/photocopied or duplicated or made available in any form, by any means, orredistributed to others without written permission of PT Waskita Beton Precast Tbk.

Thank You

Head Office: Gedung Teraskita Jakarta, 3 & 3A Floor Jl. MT. Haryono Kav. No. 10A Cawang, Jakarta 13340Ph. (+6221) 22892999Website: www.waskitaprecast.co.id

http://www.waskitaprecast.co.id/

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