Kija Investor Presentation May 2014finalppt

7/23/2019 Kija Investor Presentation May 2014finalppt

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Investor Presentation

May 2014

PT Jababeka Tbk

Infrastructure

Land Development

Hospitality


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1. Overview of PT Jababeka Tbk


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Overview of PT Jababeka Tbk

Infrastructure

Power Dry PortInfrastructure

Real Estate

Kota Jababeka, Cikarang : fully integrated matured township development spanning5,600 hectaresKendal Industrial Park (2,700 hectares, JV with Sembcorp)Tanjung Lesung, Banten (1,545 hectares integrated township development with a focuson leisure, tourism, and hospitality)

Industrial land plots & standard factory buildings

Residential townhouses, condominiums, and detached homes

Commercial shop houses, plots and supporting commercial facilities

Power: 130MW power plant with 20 years PPA with PLN

Infrastructure: water & waste water, estate management, etc

Dry Port International port: IDJBK

Township Developments

ResidentialIndustrial Commercial

3

Real Estate Developer & Infrastructure Services Powerhouse


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Strategic development sites

Tanjung Lesung

Master plan: 1,545 hectares

170km southwest of Jakarta

Karawang

Kota Jababeka, CikarangMaster plan: 5,600 hectares

35km east of Jakarta

Kendal, Central JavaMaster plan: 2,700 hectares

450km east of Jakarta

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>3,000 hectares strategic land bank with upside potential


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Snapshot of core businesses

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b

Land Development Infrastructure Leisure and Hospitality


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2. Strong financial performance


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26.5 34.7

39.0 28.4

0

20

40

60

80

1Q2013 1Q2014

Recurring Real Estate

1Q 2014 Financial Highlights

Revenue (USD m) (1) Gross Profit (USD m) and Gross Profit Margin EBITDA (USD m) and EBITDA Margin (2)

Net Income (USD m) Total Assets (USD m) Net Debt (USD m)

30.0 29.6

45.8%

46.8%

45.0%

45.5%

46.0%

46.5%

47.0%

0

5

10

15

20

25

30

35

1Q2013 1Q2014

28.4 27.4

43.4% 43.4%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

0

5

10

15

20

25

30

1Q2013 1Q2014

17.4

26.2

0

5

10

15

20

25

30

1Q2013 1Q2014

717.8 707.1

0

200

400

600

800

1Q2013 1Q2014

171.3 178.5

0

50

100

150

200

1Q2013 1Q2014

(3.6%)

(1.4%)

39.5%

(1.5%) 4.2%

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65.5 63.1

Source: Latest company financials. Exchange rate : 11,500 IDR/USD as of 5 May 2014Notes:(1) EBITDA calculated as Net income + Interest + Tax + D&A and other non-cash items

(2) Recurring defined as Power Plant, Service and maintenance fees and Dry Port. Real Estate defined as all other business s egments excluding Recurring, mainly real estate and tourism


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USD 63.1 million

Stable and sustainable recurring incomeRevenue Contribution Infrastructure Revenue Breakdown (USD m)

Infrastructure EBITDA (USD m) and EBITDA Margin (2)

Recurring (1)

Real Estate (1)2011

2013

USD99.9 million

USD 238.2 million2012

USD 121.8 million

1Q2014

30.7%

463.3%

31.3%

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26.520.8

117.3

15.934.7

Predominantly USD income streamCatering to captive markets with long term contracts

Source: Latest company financials. Exchange rate : 11,500 IDR/USD as of 5 May 2014Notes:(1) EBITDA calculated as Net income + Interest + Tax + D&A and other non-cash items(2) Recurring defined as Power Plant, Service and maintenance fees and Dry Port. Real Estate defined as all other business segments excluding Recurring, mainly real estate and tourism

EBITDA(USDm)

EBITDAMargin (%)


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Steady growth in Real Estate

Key commentary Land Development Revenue (USD m)

Land Development EBITDA (USD m) and EBITDA Margin (1)

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Cikarang is the preferred location with strongsupporting infrastructures (e.g. power, water)

Consistently high EBITDA margins achieved

Higher ASPs achieved:(IDRm/sqm) 2013 1Q2014 % changeIndustrial Land Plots 2.0 2.6 30%Residential 4.2 5.0 19%

Commercial 17.0 20.0 18%

Source: Latest company financials. Exchange rate : 11,500 IDR/USD as of 5 May 2014Note: (1) EBITDA calculated as Net income + Interest + Tax + D&A and other non-cash items

EBITDA(USDm)

EBITDAMargin (%)


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Robust P/L performance

Revenue Breakdown (USD m) (1) Gross Profit (USD m) and Gross Profit margin

EBITDA (USD m) and EBITDA margin (2) Net Income (USD m)

(3.6%)

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EBITDA(USDm)

EBITDAMargin (%)

Gross Profit(USDm)

Gross ProfitMargin (%)

99.9

63.1

238.2

121.8

65.5

Source: Latest company financials. Exchange rate : 11,500 IDR/USD as of 5 May 2014Notes:(1) Recurring defined as Power Plant, Service and maintenance fees and Dry Port. Real Estate defined as all other business s egments excluding Recurring, mainly real estate and tourism(2) EBITDA calculated as Net income + Interest + Tax + D&A and other non-cash items(3) FY2013 includes unrealised foreign exchange loss (non cash) of USD36.6 m. Q12014 includes unrealised foreign exchange gain (non cash) of USD11.4m.

(3)(3)


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Strong balance sheet

Assets and Cash (USD m) Debt, Equity (USD m) and Debt / Equity

Net Debt / EBITDA (x) (1)

11Source: Latest company financials. Exchange rate : 11,500 IDR/USD as of 5 May 2014Note: (1) EBITDA calculated as Net income + Interest + Tax + D&A and other non-cash items.

EBITDA / Interest Expense (x) (1)


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3. Sustainable growth strategy


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Growth Strategy

Short Term1

Provide infrastructure (power, water, ports

etc.) in new development areas

Tanjung Lesung as the new tourism

destination

Development of Kendal Industrial

Park in Central Java

Phase 2 of Bekasi Power

Medium Term2

Kota Jababeka, Cikarang:Preference for smaller plotswith standard factory buildingsTarget fast growing, low-middle end residential and

commercial segmentBekasi Power: efficiencyHigh potential for dry port

Long Term3

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Key Partners & Tenants

Strategic Partners1

H

Multinational Tenants2

SembCorp Industries

leading utilities, marine and

urban development group

Plaza Indonesia Realty

owner & developer of high-end

commercial centre in Jakarta CBD

PLN

state-owned power

distribution company

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Plaza Indonesia @ Kota Jababeka Cikarang

Superblock development in Jababekas new CBD

2 JVs between KIJA and Plaza Indonesia (PLIN) (12ha 30/70 4ha 70/30)Malls, hotels, condominium, apartments and multi function

Phase 1 of the 12ha JV to begin 4Q14 or 1Q15

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Kendal Industrial Park Medium Term

Strong alternative to high-cost Greater Jakarta

JV between KIJA (51%) and Sembcorp (49%)

Industry-based Township: to be modeled after Kota Jababeka, Cikarang

860 hectares (phase 1) - Total planned area 2,700 hectares

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Bekasi Power Phase 2 Medium Term

Bekasi Power Plant- Phase 2

Duplicate of existing 130MW plant

Gas pipelines are all currently in place

Additional upside to recurring revenues

Site for 2nd plant

Existing site (5ha) for 2 x 130MW power plant

Bekasi Powers 2nd Plant to Capitalize on Power Supply Gap

BP

Kota Jababeka

Estimated total power demand inside KotaJababeka > 300MW

In Indonesia, power demand for industrial isgrowing at 10-12% per annum

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Jababeka key investment highlights

Favorable & StrongMacro Economic

Fundamentals

Increasing recurring,USD denominated,

strong revenue base

Sustainable GrowthStrategy in Real

Estate &Infrastructure

Businesses

Leading TownshipDeveloper with Top

Notch Infrastructures

& Vast and StrategicLand Bank

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Thank Youwww.jababeka.com

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Kija Investor Presentation May 2014finalppt

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