www.elnusa.co.id
PT Elnusa TbkAnalyst Meeting 1H15
July 2015
Vision & Mission
2
Vision Trusted Energy Services Company
Mission• Business expansion from integrated upstream oil &
gas services to energy services• Create a stable business growth that fulfills the
shareholders expectations, followed by humanresources competence development and themastering of energy services related technologies.
• Achieve and maintain customer satisfaction byproviding high quality products based on theoperational principles.
• Maintain a harmonious and mutually beneficialrelationship with the government, partners andCommunity.
Corporate Values• Clean• Respectful• Synergy
Elnusa at a Glance
3
1Significant Track Record in Upstream Oil & Gas Services Industry : Has been 45 years providing the services, Elnusahas been a market leader in Indonesia for Land Seismic and a trusted provider for Oilfield services.
1Significant Track Record in Upstream Oil & Gas Services Industry : Has been 45 years providing the services, Elnusahas been a market leader in Indonesia for Land Seismic and a trusted provider for Oilfield services.
2Experienced & Qualified Personnel : along with reliable equipment, experienced & competent personnel delivers customer satisfaction & service excellence.
2Experienced & Qualified Personnel : along with reliable equipment, experienced & competent personnel delivers customer satisfaction & service excellence.
3Proudly HSE Achievement & Reputation : Elnusa quality of performance always meets the standards of ISO 9001:2008 & OHSAS 18001:2007, and is recognized by many customers.
3Proudly HSE Achievement & Reputation : Elnusa quality of performance always meets the standards of ISO 9001:2008 & OHSAS 18001:2007, and is recognized by many customers.
4Strong Customer Base : with national and international oil and gas companies as loyal customers and operation projects cover the Nation
4Strong Customer Base : with national and international oil and gas companies as loyal customers and operation projects cover the Nation
Fundamental Strengths
Milestones
4
Establishment
2013 2014
Entered Seismic Business
Data Management, Oilfield Services, Fuel Trading & Distribution
Establishment of Drilling Services,Fabrication
Initial Public Offering7.298.500.000 Shares
Non CoreDivestments
TurnaroundProgram
Year of HumanResources
Strengthening operational level, organization and internal control functions as well as evaluating and redefining all product/services of the Company.
Operational Area
5
Besides Indonesia, Elnusa also experienced in several regional countries : Brunei, Vietnam, Myanmar & India.
Company Structure
PT Pertamina (Persero)
41.10%
Dana PensiunPertamina17.81%
Publik
41.09%
6
Intergrated UpstreamServices
Upstream SupportServices
Downstream Services
PT Elnusa Oilfield Services (99,99%)
PT Elnusa Geosains Indonesia (99,99%)
PT Elnusa Fabrikasi Konstruksi (97,35%)
PT Patra Nusa Data (70,00%)
PT Sigma Cipta Utama(99,99%)
PT Elnusa Trans Samudera (98,23%)
PT Elnusa Petrofin (99,93%)
PT Elnusa Patra Ritel(98,00%)
Integrated Upstream Services
7
Oilfield Maintenance Services
Hydraulic Workover &Snubbing
11 Units HWU Snubbing with Rig Up 150K, 225K & 340K type
Coiled Tubing, Well Stimulation & Pumping 3 CTU Units, 3 Cementing &
Pumping Units
Well Testing & Slickline 3 Testing & 3 Working Barges ,
2 MPB, 1 LCT, 7 Slickline Units, 3 SFT & 4 DST Units
Drilling Services
Operation & Maintenance
Field & pipeline operation maintenance service
Special Group Services Modular Crane Services, Field
Operation Management, Enhance Oil Recovery
Drilling RigServices
1 Unit Rig of 1600 HP, 3 Units of 550 HP, 1 Unit of 900 HP
Drilling SupportMud & Chemical
16 MLU, 9 H2S Units, Drilling Fluid Services
Electric WirelineLogging
19 Units for Open Hole Logging & Cased Hole Logging Services
Integrated Upstream Services
8
Seismic Data Acquisition
Seismic Data Processing
Non Seismic Surveys
Gravity SurveyMagnetotelluric & Time Domain Electromagnetic
Magnetic Survey
Downstream Services
9
PT Elnusa Petrofin
CHEMICAL, INDUSTRIAL & MARINE FUEL
TRADING
FUEL STORAGE / DEPOT MANAGEMENT
GAS STATION & LPG FILLING STATION
FUEL FLEET MANAGEMENT
• Managing 11 private depotswith VHS system
• Managing 6 depots withmarine system franco
• Managing fuel transportationsfor 23 TBBM locations.
• Fuel distributions to 157 APMSin kalimantan
• Managing transportation for 27SPBB.
• Renting 70 units of MT BBMand 10 units of MT LPG toPertamina.
• Managing 2 SPBUand 1 SPBE
• Trading specialty chemical foroil& gas industry, commoditychemical trading.
• Refill, blending & technicalservices.
• Industry and marine fueltrading.
Upstream Support Services
10
Elnusa FabrikasiKonstruksi
Fabrication services (pumping unit for CTU, HWU), threading & trading of Pipa Oil Country Turbular Goods (OCTG) and EPC projects
Patra NusaData
Oil & gas data management, licensing services, online data services and physical storage services
Sigma CiptaUtama
Information system and electronic data physical storage, management services, oil & gas geological materials storage, radio tel services.
Elnusa TransSamudera
Marine oil & gas support services
Awards & Achievements
11
The Mahakam Award 2014 from Total EP Indonesia, for High Risk Contractor category.
6 Years Without DAFW 2014 from Chevron Operations.
Best RIG HSE Performance 2014 from VICO Indonesia at Badak Field
Contract & Procurement Award From Total EP Indonesie
Best of the Best 50 Companies from Forbes Indonesia
2 Golds & 4 Silvers at Annual Pertamina Quality AwardFrom Pertamina (Persero)
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ELSA Stock Performance
J F M A M J J A S O N D J F M A M J0
100
200
300
400
500
600
700
800Harga Volum
ELSA Shares Performance 2014‐2015
ELSA shares has been apreciated 104% in 2014 but down 42% during 6 months of 2015
Issued shares 7.298.500.000 sharesMarket Cap 2015 : Rp 4 trillion (+/‐ USD 335 million)Average share price and volume in 2015 : Rp 574 dan 29mn shs/day.
26%
26%
21%
22%
5%
2015 ELSA Non Controlling Ownership
ELSA non controlling ownership in 2015 were dominated by Foreign Institution & Insurance
Foreign Institution : 26% Insurance : 26%Mutual Fund : 21%
Domestic Individuals : 22% Others : 5%
Market Share
13
Upstream Spending
16.106 17.87320.384 19.375
2011 2012 2013 2014
Eksplorasi Development Production Administration
Oilfield Service Market Share
1.5101.719
2.396 2.528
2011 2012 2013 2014
ELSA Competitor
Refer to Elnusa revenue of Rp 4.2T hence Elnusa’s
market share to country’s upstream investment is only
around 2%
Refer to relevant spendingt to maintenance business compare to Elnusa’s oilfield services revenue, Elnusa’s annual market share is
roughly around 5%
USD Jt
Financial Highlights
14
IDR Bn
* Gain on sale of assets in 1H14 was Rp 87 bn
YoY YoYRp (bn) % Rp (bn) % Rp (bn) % Rp (bn) %
Revenue 4.112 100% 4.221 100% 2,7% 2.013 100% 1.803 100% ‐10,4%
Cost of Revenue 3.465 84% 3.461 82% ‐0,1% 1.699 84% 1.508 84% ‐11,2%Gross Profit 647 16% 760 18% 17,5% 314 16% 295 16% ‐6,1%Operating Profit 293 7% 425 10% 45,1% 190 9% 171 9% ‐10,0%EBITDA 599 15% 665 16% 11,0% 310 15% 305 17% ‐1,6%Net Profit (Loss) 238 6% 412 10% 73,1% 178 9% 133 7% ‐25,3%EPS 33 1% 57 1% 72,7% 24 1% 18 0 ‐25,1%
Total Assets 4.371 100% 4.246 100% ‐2,9% 4.141 100% 4.349 100% 5,0%Total Liabilities 2.086 48% 1.663 39% ‐20,3% 1.797 43% 1.921 44% 6,9%Total Equity 2.285 52% 2.583 61% 13,0% 2.343 57% 2.428 56% 3,6%Account Receivables 958 22% 930 22% ‐2,9% 864 21% 842 19% ‐2,5%Account Payables 1.088 25% 1.068 25% ‐1,8% 1.268 31% 1.156 27% ‐8,8%Interest Bearing Debt 764 17% 436 10% ‐42,9% 393 9% 572 13% 45,5%
2013 2014 1H14 1H15
*
Yearly Performance YTD
15
2.013 1.803
314 295
16% 16%
0%
5%
10%
15%
20%
25%
‐
500
1.000
1.500
2.000
2.500
1H14 1H15
Consolidated
Revenue Gross Profit Gross MarginIDR bn
844 814
167 195
20%
24%
0%
5%
10%
15%
20%
25%
30%
‐
200
400
600
800
1.000
1.200
1H14 1H15
Oilfield & Drilling Sevices
431
278
119 45
28%
16%
0%
5%
10%
15%
20%
25%
30%
35%
40%
‐
100
200
300
400
500
600
1H14 1H15
Seismic Services
832 816
64 102
8%
13%
0%
5%
10%
15%
20%
25%
30%
‐
100
200
300
400
500
600
700
800
900
1.000
1.100
1.200
1H14 1H15
Subsidiaries
Uneliminated
Uneliminated Uneliminated
Quarterly Performance
16
879
138
16%
0%
5%
10%
15%
20%
25%
‐
200
400
600
800
1.000
1.200
1.400
Mar 14 Jun 14 Sep 14 Dec 14 Mar 15 Jun 15
Consolidated
393
100
25%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
‐
100
200
300
400
500
600
700
Mar 14 Jun 14 Sep 14 Dec 14 Mar 15 Jun 15
Oilfield & Drilling Services
126
11
9%
0%
5%
10%
15%
20%
25%
30%
35%
‐
50
100
150
200
250
300
350
400
Mar 14 Jun 14 Sep 14 Dec 14 Mar 15 Jun 15
Seismic Services
Revenue Gross Profit Gross MarginIDR bn
421
63
15%
0%
5%
10%
15%
20%
25%
‐
100
200
300
400
500
600
700
Mar 14 Jun 14 Sep 14 Dec 14 Mar 15 Jun 15
Subsidiaries
249 252
1H14 1H15
Electric Wireline Logging
Revenue & Growth
87 87
1H14 1H15
Coiled Tubing Unit
179
126
1H14 1H15
Drilling
91
148
1H14 1H15
Hydraulic Workover
5024
1H14 1H15
Drilling Fluid
42
56
1H14 1H15
Snubbing
17
IDR bn
2%‐30% 63%
0%
‐52% 33%
Oilfield & Drilling by Services
Revenue
1812
1H14 1H15
Cementing & Pumping
159
1H14 1H15
Drilling Evaluation
40
60
1H14 1H15
Well Testing
54
8
1H14 1H15
Operation Maintenance
2133
1H14 1H15
Slickline
18
IDR bn
50%
‐85%
56%
‐30%‐43%
Oilfield & Drilling by Services
Revenue
431278
1H14 1H15
Seismic Land & Processing
19
IDR bn
‐36%
Seismic Land & Acquisition
Subsidiaries Performance
20
728677
1H14 1H15
Elnusa Petrofin
37
26
1H14 1H15
Patra Nusa Data
26
64
1H14 1H15
Elnusa Fabrikasi Konstruksi
3128
1H14 1H15
Sigma Cipta Utama
IDR bn
‐7%
‐30%
150%
‐9%
RevenueRevenue Growth
Contract Replacement Profile
21
USD jt
Contract per 1H15 and Forward
CARRIED OVER NEW CONTRACT TOTAL CONTRACT VALUE 2015 (Exp) VALUE ONWARDA B A+B C A+B‐C
Oilfield & Drilling 230 80 310 129 181 Seismic 28 84 112 49 63 TOTAL 258 164 422 178 244
SEGMENT
Capex
22
489
130 110
366 315
0
250
500
750
2011 2012 2013 2014 1H15IDR bn
A = 227B = 262
A = 26B = 104 A = 51
B = 59
A = 337B = 30
A = New Investments
B = Replacements
Area of Investment (Oilfield & Drilling Services & Seismic) :
Electric Wireline Unit
Coiled Tubing Unit
Portable Slickline Unit
Barges Modular Rig
Geophones
A = 206B = 109
AWB ELSA 8
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The First Ecogreen Accomodation Work Barge in Indonesia
Awarded by ministry of research & technology for “20 Karya Unggulan IPTEK Anak Bangsa” –Hari Kebangkitan Nasional.
Energy efficiency to apply energy saving concept for its electricity. Reduction of exhaust gas emission using engine diesel Euro 3 standard/Stage IIIA & TIER 3. Designed with engine generator to use biodiesel as energy resources. Energy alternative using Solar Panel generation system as renewable energy source.
PT Elnusa Tbk.Graha ElnusaJl. T.B. Simatupang Kav. 1BJakarta 12560, IndonesiaTel: +62 21‐78830850 Fax: +62 21‐78830907www.elnusa.co.id
Thank YouDISCLAIMER :
The information in this document has not been independently verified. No representation or warranty expressed or implied is made as to, and no relianceshould be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. None of PT Elnusa Tbk (the“Company“), nor any of its affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss whatsoeverarising from the use of this document or its contents or otherwise arising in connectionwith this document.
This document is being furnished to you solely for your information on a confidential basis and may not be reproduced, redistributed or passed on, in wholeor in part, to any other person. Any failure to comply with these restrictions may constitute a violation of the laws of any such other jurisdiction. Byaccepting this document you agree to be bound by the foregoing limitations.
This document does not constitute or form part of an offer or invitation to purchase any shares in the Company and neither shall any part of it form thebasis of nor be relied upon in connection with any contract or commitment whatsoever. Any decision to purchase shares should be made solely on the basisof information contained in the prospectus.
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