pt nusantara infrastructure tbk. · founded through backdoor listing in 2006, pt nusantara...

© 2016 PT Nusantara Infrastructure Tbk

PT Nusantara Infrastructure Tbk. Public Expose

Jakarta, 15 December 2016

1


Presentation Contents

PART I : Company Overview 3

PART II : Key Development Progress 7

PART III : Financial Highlights 24

www.nusantarainfrastructure.com

2


PART I: Company Overview

3


Company Overview

Founded through backdoor listing in 2006, PT Nusantara Infrastructure Tbk. is an

Indonesia’s leading private infrastructure company.

PT Nusantara Infrastructure Tbk. is listed at the Indonesia Stock Exchange (Ticker: META).

The company manages diversified infrastructure sectors across:

1. Toll Road

2. Port

3. Water

4. Renewable Energy

5. Telecommunication Tower

Transportation

Infrastructure

Utilities

Infrastructure

4


Geographical Coverage

5

Ports Panjang Seaport – South Sumatera

Telecommunication Tower 1,024 telecommunication towers across Sumatera, Java, East Region

Renewable Energy Lau Gunung Mini Hydro Power Plant – North Sumatera

Toll Roads Harbor Road - Makassar

Airport Toll Road - Makassar

Commuter Road – Greater Jakarta

Jakarta International Airport Road JORR 1

Water Cisadane Water Treatment Plant – Greater Jakarta

Medan Industrial Water Treatment Plant – North Sumatera

East Serang Water Treatment Plant – Greater Jakarta

The company currently serves over 103 million customers, 550,000 households,

266 factories and 210 vessels, 1,486 telecommunication tenancies.


99.99%

Shareholding Structure

PT Hijau Makmur

Sejahtera

21.00%

Eagle Infrastructure

22.32%

Public and Others

56.68%

PT Margautama

Nusantara

(“MUN”)

PT Portco

Infranusantara

(“Portco”)

PT Potum Mundi

Infranusantara

(“POTUM”)

PT Telekom

Infranusantara

(“TI”)

PT Energi

Infranusantara

(“EI”)

74.98% 99.99% 99.99% 99.99%

Note:

(1) As of September 2016.

6


Corporate Structure

Cap Asia

invested in 2013 Partnered with

PEP in 2014

ISAB

Acquired

2012

Acquired &

Developed

2013

Acquired &

Developed

2012

SCTK

Developed

2012

Acquired

2014

Acquired

2006

Expanded

2008

Acquired

2006

Acquired &

Developed

2009

Developed

2007

BSD JLB

Acquired

2012

TBN

TKCM

74.99% 99.99% 99.99% 99.99% 99.99%

88.93% 98.53% 25.00% 39.00% 51.00% 51.00% 64.99% 54.64% 79.64%

99.39% 28.00%

Partnered with

JEXWAY

in 2014

Partnered

with LDC in 2012

Note:

(1) As of September 2016.

BMN

JTSE

DCC KIN IME

Acquired

2012

Legend:

: Business Unit Level

BSD : PT Bintaro Serpong Damai

BMN : PT Bosowa Marga Nusantara

JTSE : PT Jalan Tol Seksi Empat

JLB : PT Jalan Lingkar Baratsatu

ISAB : PT Inti Sentosa Alam Bahtera

TBN : PT Tirta Bangun Nusantara

TKCM : PT Tirta Kencana Cahaya Mandiri

DCC : PT Dain Celicani Cemerlang

SCTK : PT Sarata Catur Tirtakelola

IME : PT Inpola Meka Energi

KIN : PT Komet Infra Nusantara

Partnered

with PTPP in

2012

7


PART II: Key Development Progress

8


Toll Road

9


Selected Map of Makassar City and List of Key Projects

10

1

Airport Toll Road - Makassar

Harbor Road - Makassar

2

3

Sultan

Hasanuddin

Airport

New

Makassar

Port

Old

Makassar

Port

Legend:

: Airport Toll Road

: Harbor Road

Number 1 : Tallo Bridge Area

Number 2 : Frontage Road Area

Number 3 : TIS Project Spot

1. Tallo Bridge Expansion : Road expansion to 2x2 lane design, expanding capacity and reducing travel time.

2. Frontage Road Reconstruction : Improving traffic flow benefited both to toll road and surrounding arterial road users.

3. Traffic Information System : Project pioneer integrated to Smart City Concept, providing real time traffic data.


1. Tallo Bridge Expansion

11

The project was started in July 2015 and completed within 12 months work plan, just before the Lebaran holidays.

The expansion has reduced bottleneck condition resulting greater access of mobility to users.

The toll road is connecting Airport to Inner City and serving a direct access to Industrial areas located at northern part.

Before Expansion After Expansion


2. Frontage Road Reconstruction

12

The project was initiated together with Tallo Bridge expansion and has been completed since June 2016.

Frontage road is located alongside of Airport Toll Road in Makassar with length of 10.00 Km. It serves as arterial road

providing direct access to toll road. Through completing this project, it ultimately delivers better access of mobility.

Before Reconstruction After Reconstruction


3. Traffic Information System

13

Project Concept

CCTV placed on spots

capturing real time traffic 1

Capturing & Collecting Data

and Create Output. 2

Information generated in

Control Center. 3 Information generated for

public via Videtron/Gadget. 4

Probe Data

Processing

Create

Traffic Info

Calculate

Travel Time

Pro

be In

form

atio

n In

ter F

ace

IVA SYSTEM

A C B C D

Development Progress

The implementation allows road users to access information of estimated travel time to opt for the best routes.

(A) Videotron using LED Billboard

Projecting real time traffic data and commercial advertising (B) Control Room Center (C) Real Time CCTV (D) Capturing Vehicle’s Police Number


Renewable Energy

14


Renewable Energy Sector

Currently constructing a Mini Hydro Power Plant, 2 x 5 MW capacity located in North Sumatera.

The project has a 20 year contract with PLN (Power Purchase Agreement).

First operation is expected to start by 3Q-2018 (third quarter year 2018).

The company is partnering with PT Pembangunan Perumahan (Persero) Tbk. (PTPP) as a joint shareholder and

main contractor.

Location Lau Gunung River, North Sumatera

Energy Type Hydro / Run-off River

Concession 20 years

Annual Energy Output 107 GWh

Installed Capacity 10 MW (2 x 5 MW)

Project Profile Project Location

74.5 km from Medan Capital City

15


Project Progress

16

Development Progress – Downstream Area

(A) Inlet Tunnel (B) Deterrent Drainage (C) Bekisting Work at Penstock

(A) Power House Zone (B) Shotcrete Ramp Power House (B) Tailrace Zone

A B C

A B C

Development Progress – Upstream Area

Overall progress has reached 22.0% and scheduled to initiate commencement operation date in 3Q-18.


Port

17


Port Sector Development

18

As per completion of Biodiesel Plant, from May to November 2016, ISAB has served more than 76,000 tons distribution

of biodiesel supply for state-owned oil and gas company Pertamina.

The Biodiesel Plant has annual production capacity of 420,000 tons of palm oil methyl ester, commonly known as palm

oil diesel and 50,000 tons of glycerin.

Development of Biodiesel Plant Opening Ceremonial Photo


Location Map of Lampung Port

19

2

1

3 4

Legend:

: Lampung Port Area

Number 1 : Jetty Area

Number 2 : Warehouse Area

Number 3 : Liquid Tank Farm Area

Number 4 : Biodiesel Plant

Lampung Port - Dry Area

Lampung Port - Liquid Area

PELINDO

Port

Up to November 2016, number of vessels has increased more than 53.6% from last year driven by Biodiesel cargos.


Water

20


Water Sector Project Progress

21

Current Plant Expansion Plant (In Progress)

(A) Water Treatment Plant 1 & 2: Capacity 2 x 50 lps (Total 100 lps)

(B) New Reservoir Tanks (2 x 3,000 m3)

(C) New Water Treatment Plant 3: Capacity 250 lps (Total After Expansion 350 lps)

A B

C

Expansion Plant of East Serang Water Treatment

Plant has reached finalization stage.

It is expected that the new Water Treatment Plant will

commence its first operation by year end.

Combined capacity will reach up to 350 lps,

contributing significant performance growth.


Telecommunication Tower Sector

22


KIN 21-Jan-14 2014 OrganicB2S

2014 InorganicM&A

KIN 2014 2015 OrganicB2S

2015 InorganicM&A

KIN 2015 3Q-16 OrganicB2S

3Q-16 InorganicM&A

KIN 3Q-16

Summary Chart KIN Tower Evolution 2014 – 3Q-16

23

Size Growth +4.2x in 2.5 years period

30 193

368 591

80

230

901 51

72 1,024

5 M&A transactions

(portfolio size ~20 –

70 towers per

acquisition)

3 M&A transactions

(portfolio size ~10 –

156 towers per

acquisition)

In closing process of

new portfolio

acquisition for more

than 180 microcell

towers.

Expanding to

Microcell

Business

Combination of aggressive inorganic acquisitions and expansion of adjacent business drive the company’s growth.

Note:

(1) B2S = Build to Suit (Orders from Telco Operators).

(2) M&A = Mergers & Acquisitions (Asset / Shares Acquisition of other Telecommunication Tower Company).


270

426

518

618

131 163

260

324

398

489

2012 2013 2014 2015 1Q-15 1Q-16 1H-15 1H-16 3Q-15 3Q-16

CAGR 3 Years (2012 – 2015)

Revenue 31.7%

Revenues Growth

25

Note:

(1) Including Construction Revenue, as per Stated in the Financial Statements.

1Q-16

Revenue(1)

+24.7% YoY

+32 Billion

1H-16

Revenue(1)

+24.5% YoY

+64 Billion

3Q-16

Revenue(1)

+23.0% YoY

+91 Billion

With stable and growth assets, the company manages to maintain its earning generation.

NI Consolidated Revenues(1) Trend 2012 – 3Q-16

IDR Billion; unless otherwise stated


Operating Income and EBITDA Growth

26

104 127

202

252

63 82

108

161 172

252

171 193

278

349

84 107

129

207 237

320

2012 2013 2014 2015 1Q-15 1Q-16 1H-15 1H-16 3Q-15 3Q-16

CAGR 3 Years (2012 – 2015)

Operating Income 34.4%

EBITDA(1) 26.8%

Well diversified portfolio drives the company to achieve robust growth.

Note:

(1) Earnings Before Interest, Taxes, Depreciation & Amortization.

Operating

Income EBITDA

Operating

Income EBITDA

Operating

Income EBITDA

Operating

Income EBITDA

Operating

Income EBITDA

Operating

Income EBITDA

Operating

Income EBITDA

Operating

Income EBITDA

Operating

Income EBITDA

Operating

Income EBITDA

1H-16

Operating Income

+49.0% YoY

49.6% Margin

EBITDA(1)

+60.4% YoY

64.0% Margin

1Q-16

Operating Income

+30.4% YoY

50.1% Margin

EBITDA(1)

+27.4% YoY

65.7% Margin

3Q-16

Operating Income

+46.9% YoY

51.5% Margin

EBITDA(1)

+35.3% YoY

65.5% Margin

NI Consolidated Operating Income and EBITDA Trend 2012 – 3Q-16



Net Income Growth

27

43 60

92

131

26 37

70

109 101

144 2.8 3.9

6.1 8.6

1.7 2.4 4.6

7.1 6.6 9.4

2012 2013 2014 2015 1Q-15 1Q-16 1H-15 1H-16 3Q-15 3Q-16

Net Income

EPS

Valuable company with growing assets and high earning power.

Note:

(1) Net Income Attributable to Owner of the Parent Entity (After Minority Interest).

1Q-16

Net Income(1)

+40.2% YoY

22.7% Margin

1H-16

Net Income(1)

+55.5% YoY

33.6% Margin

3Q-16

Net Income(1)

+42.7% YoY

29.4% Margin

CAGR 3 Years (2012 – 2015)

Net Income 44.6%

NI Consolidated Net Income and EPS Trend 2012 – 3Q-16

IDR Billion for Net Income and IDR for EPS; otherwise stated


4,075

942

2,361

4,840

1,280

2,604

5,139

1,366

2,662

5,497

1,596

2,747

5,602

1,642

2,800

Total Assets Interest Bearing Liabilities Total Equity

Financial Position Trend

28

NI Consolidated Financial Position Trend 2014 – 3Q-16


Trend showed company’s financial position is at healthy condition and well-maintained.

3Q-16

Debt(1) to Assets Ratio

29.3%

Debt(1) Service

Coverage Ratio 2.32x

3Q-16

Debt to EBITDA(2)

3.84x

Net Debt(3) to EBITDA

2.32x

3Q-16

Debt(1) to Equity Ratio

58.6%

Equity Multiplier Ratio

2.00x

CAGR 3 Years (2012 – 2015)

33.8%

CAGR 3 Years (2012 – 2015)

35.5%

Note:

(1) Debt = Outstanding Interest Bearing Liabilities (Current & Non-Current). Excluding Islamic Financing debt from Providence Equity Partners in Telecommunication Tower segment (Non-Interest Bearing Liabilities).

(2) Debt to EBITDA = Debt divided by EBITDA. EBITDA is using annualized figure.

(3) Net Debt = Debt minus Cash and Cash Equivalents.

2014 2015 1Q-16 1H-16 3Q-16 2014 2015 1Q-16 1H-16 3Q-16 2014 2015 1Q-16 1H-16 3Q-16


Key Growth Drivers

29

Capacity for Future

Expansion

Low leverage position benefits the company to upscale with potential projects.

Alliances with Strategic Partners, Co-Investment with Global Players, and

Exploring creative financing structure.

2

Room for Scale-Up

3

3 Base Strategies optimizing the company’s value creation.

1. Organic – Optimizing & Enhancement of Existing Assets

2. Business Development – Project Initiatives Extending Assets’ Value

3. Acquisition – Capturing Direct Potential Value

Consistent Growth

1

Consistent Growth in Company’s Performance.

1. Total Assets 9 Years CAGR (2006 – 2015) = 29%

2. Total Revenues 9 Years CAGR (2006 – 2015) = 21%

3. EBITDA 9 Years CAGR (2006 – 2015) = 29%

pt nusantara infrastructure tbk. · founded through backdoor listing in 2006, pt nusantara...

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