investor relations update ubs indonesia conference · pdf fileinvestor relations update ubs...

Investor Relations updateUBS Indonesia Conference 2016

(based on FY2015)

Last update : March 2016

Spirit of Innovation 2

TABLE of CONTENT

SEGMENT OVERVIEW

GROUP PERFORMANCE IR’s UPDATE

GUIDANCE 2016F

BOARD GUIDANCE#5 PT WIJAYA KARYA (Persero) Tbk. 3

SEGMENT OVERVIEW

Spirit of Innovation |

VISION To be One of The Best Integrated EPC and Investment Company in South East Asia

MISSIONProviding Excellent Integrated Products and Services on EPC and Investment for Infrastructure, Building, Energy, Industrial Plant, Industry and Realty & Property

Accomplish Key Stakeholders Expectation

Practicing Business Ethics to Promote Good Corporate Citizen and Company Sustainability

Strategic Overseas Expansion

Implementing Best Practices Integrated Management System

“

4

Spirit of Innovation | 5

Government Public

65.05%34.95%

60% 99%99% 85.26%85.26%%%%% 90.04% 96.05% 99%

51%

60%

100%

PORTOFOLIO BISNISSUBSIDIARIES

PT WIKA Realty Minor Development50%


Government Public

65.05%34.95%

Toll Road

20% 40% PT AIR MINUM INDONESIA 14%

20%

2%

0,4%

PT Citra Marga Lintas Jabar

PORTOFOLIO BISNIS

Railway

15%

38%

Sea Port

25% PT Pilar Sinergi BUMN Indonesia

Transportations Infra

Energy Renewable Energy Water & Environment

INVESTMENT IN ASSOCIATE


BUSINESS PILARSINDUSTRY INFRASTRUCTURE &

BUILDINGENERGY &

INDUSTRIAL PLANTREALTY & PROPERTY INVESTMENT

Precast Concrete : - Precast Concrete Product - Natural Resources

Management Industrial Facilities : - Steel Fabrication - Aluminium Casting - Plastic InjectionBitumen : - Granular Asphalt - Extraction Asphalt

Civil Construction : - Road and Bridge - Seaport, Jetty - Dam & BarrageBuilding Construction : - Residential & Commercial - Airport- Facility Steel Construction : - Erection - Equipment Installation

EPC : - Oil and Gas Plant - Petrochemical Plant - Cement Plant, Power Plant - Mining, Biofuels, FertiliserOperation & Maintenance : - Power Plant - Industrial Equipment

Realty & Property : - Landed House - High-rise (Apartment, Condotel, Office Mixed Use) - Industrial Estate

Property Management

Energy Water & Environment Transportation Infrastructure

Civil Work Department Overseas Department Building Department

Industrial Plant Department Energy & Power Department

Building Department Energy & Power Department

SERV

ICES

/PRO

DUCT

SDE

PART

MEN

T, SU

BSID

IARI

ES, A

SSOC

IATE

S

PT WIJAYA KARYA (Persero) Tbk. 8

1.SK Menteri BUMN No. SK-16/S.MBU/2012 | 2.Assessment by Indonesia Quality Award (IQA) | 3.Assessment by “Kriteria Penilaian Kinerja Unggul” (KPKU) | 4.Assessment by LPPM | 5.Assessment by AON Hewitt | 6. Assessment based Coso Framework | 7. Assessment based ISO 31000 | 8. Self Assessment

2008 2009 2010 2011 2012 2013 2014 2015GCG SCORE (Assessor: BPKP) 85,56 86,20 86,97 89,34 86,071) 89,238) 93,301)

BUMN BERSIHINTERNAL

TARGET : 9.4 PERCEPTION: 8.41

CGPI INDEX 80.36 Emerging Industry Leader

81,78 Emerging Industry Leader

ASEAN SCORECARD49 biggest

group score: 61-65

TOP 14 score: 69.9 Best SOE

CORPORATE RATING (Assessor: PEFINDO)

id A Stable

Outlook- id A

Stable Outlook

id A+ Stable Outlook



MTN RATING id A+ Stable Outlook


PERFORMANCE EXCELLENCE - - - -

5903) Emerging Industry Leader

582,53) Emerging Industry Leader

ENGAGEMENT LEVEL - 85,934) 85,554) 805) 885) 785)

RISK MATURITY LEVEL 2,86) 3,126) 2,567) 3,517) 3,797)

CORPORATE ASSESSMENT


WIKA BETON

CAPACITY : 2.500.000 ton/Year


WIKA REALTY

TOTAL LANDBANK : 300Ha

NORTH SUMATRA

JAKARTA

EAST KALIMANTAN

NORTH SULAWESI

SOUTH SULAWESI

WEST JAVA & BANTEN

CENTRAL JAVA

EAST JAVA

BALI

Tamansari Debang Medan (LH)

Tamansari Hive Fatmawati Hive Office Tamansari Parama

Wikasatrian - Bogor (LH&H) Tamansari Cyber – Bogor (LH) Tamansari Iswara - Bekasi (A) Tamansari Panoramic – Bandung (A) Tamansari La Grande Merdeka – Bandung (A&C) Tamansari Skylounge – Tangerang (A&C)

Tamansari Hill - Semarang (LH) Tamansari Amarta - DIY (A)

Tamansari Papilio Surabaya (A&C)

Jivva Tamansari – Lepang (C) Jineng Tamansari – Kuta (C) Tamansari Gangga – Tabanan ( C )

Tamansari Bukit Mutiara - Balikpapan (LH) Tamansari Grand Samarinda (LH)

Tamansari Metropolitan Manado (LH) Tamansari Lagoon - Manado (A&C)

Tamansari Kahyangan Kendari (LH) Tamansari Skylounge - Makassar (A)


Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2014 2015

3,734

3,068.94

2,596.9092,318.154

2,033.21,827.7

1,557.211,252.74

1,041.24

683.12

309.11209.7

2,8282,596

2,817

2,0531,7141,5831,424

1,146

778679489

220220489

679 778

1,1461,424 1,583 1,714

2,053

2,8172,596

2,828


2014 2015

19,077.1

13,158.2211,562.61

10,589.5510,909.5

9,133.378,573.46

4,303.323,624.353,383.022,767.73

783.11

9,817

7,9526,376

5,2614,4873,5303,3782,7452,3831,890

619269269 6191,890 2,383 2,745 3,378 3,530

4,487 5,2616,376

7,952

9,817


2014 2015

1,034.35

658.42

165.67165.6761.6260.6359.6559.2558.6561.5810.780.49

3,6343,5173,3143,359

2,0402,0402,0401,9821,9811,9811,8851,8841,884 1,885 1,981 1,981 1,982 2,040 2,040 2,040

3,359 3,3143,517 3,634


2014 2015

1,376.31

1,039.191,018.191,018.19

357.55338.48232.83212.85

152.46117.57108.778.63

1,354

1,0841,014

3873623323192492121621158282 115 162 212 249

319 332 362 387

1,0141,084

1,354

SEGMENT: INDUSTRY SEGMENT: INFRA & BUILDING

SEGMENT: ENERGY & IND. PLANT SEGMENT: PROPERTY & REALTY

NEW CONTRACT


GROUP PERFORMANCE



Total 2015 New Contract 2015 New Contract 2014 Total 2014

17,632

15,148

13,522

11,060

8,6037,4857,160

6,1235,355

4,712

3,1082,456

2,4841,626

2,4622,4571,118

3251,038768643

1,604652

2,456

7,270

2,6081,252730

2,002937

4,595

9516311,0492,124

1,072

25,222

17,951.77

15,343.3814,092

13,361.89

11,360.1810,423

5,8284,8774,245

3,196

1,072

2,4563,108

4,7125,355

6,1237,160 7,485

8,603

11,060

13,522

15,148

17,632

2,456

6521,604

643 768 1,038325

1,1182,457 2,462

1,6262,484

NEW CONTRACT CYCLENEW CONTRACTFY2015 25,221.76 FY2014 17,631.94


Industrial Plant

Precast

Building

Property

Toll, Road&Bridges

Port, Irrigation, DAM

Manufacture&Constr

Bitumen

Power Plant 404.75

18

746

4,167

9,116

1,376

5,785

2,969

640

0.43

61

580

2,289

1,321

1,354

6,207

2,186

3,633

FY2014 FY2015

NEW CONTRACT BASED ON SCOPE OF WORK (FY2015)

NEW CONTRACT FY2015 25,221.76 FY2014 17,631.94

20.61%

12.40%2.54%

11.77%35.20%

22.93%

7.68%5.46%

7.49%36.14%

12.98%16.52%

3.29%2.96%

0.07%0.0%

1.60%

0.35%


NEW CONTRACT AND CARRY OVER

FY2015 MAJOR AWARDED PROJECTS

- Oecusie Airport-Timor Leste Rp1.008Tr

- Pasellorang Dam Rp478.27Bn

- Keureuto Dam Rp406.91Bn

- Elevated Non Toll Ciledug Rp319.28Bn

- Bogor Ciawi Toll-Road Rp322.92Bn

- Container Yard Lamong Rp325.48Bn

- Bogor-Ciawi Toll Road Rp322.92Bn

- Solo-Kertosono Toll Road (Loan) Rp717.79Bn

- Double-Double Track Maggarai Rp330Bn

- Lampung Toll Road Rp2.181Tr

- Seroja Toll Road Rp628Bn

- G Island Bridge Rp300Bn

- Bp Tangguh Ncdt Rp357Bn

FY2015

FY2014 FY2015

7.68%20.61%

55.68%

16.04%

25,221.76

FY2014 FY2015

3.66%

31.93%

58.02%

6.39%

23,784.39

Industry Infra & Building Energy & Industrial Plant Property & realty

NEW CONTRACT CARRY OVER

17,631.94

5.46%

4.10%

75.64%

14.80%

23,301.49 4.23%

36.40%

55.61%

3.76%

ORDER BOOK FY2015 48,523.24 FY2014 41,416.33


(bilion Rp.)NEW CONTRACT BASED ON PROJECT OWNER

55.7%29.0%

15.3%

39.7%

17.8%

42.5%2010 2011 2012 2013 2014 2015F

31.6%

28.2%

40.2%

51.0%

30.6%

18.4%

55.7%

29%

15.3%

Private SOE Government

25.21%22.17%

52.02%

2014DECEMBER

2015DECEMBER


0

450

900

1350

1800

2012 2013 2014 2015

431.7

195.8

81.122.5

95.75

27.6

133.8

663.4

424.75

311.8

56.9

782.97

510.8482 SubsidiariesFixed AssetBusiness DevelopmenCapital Placement

1,045.9

691.4 753.8

CAPITAL EXPENDITURE 2014F

22.5

1,735.17


RESULT UPDATE FY2015


SEGMENTAL SALES & NET PROFIT

Infra & Building Energy & Industrial Plant Industry Property & Realty

11%

21%

25%

44%

10%

26%

25%

38%

REVENUE

12%

15%

35%

38%

NET PROFIT

17%

35%15%

32%

2014 2015

REVENUE

NET PROFIT


QUARTERLY GROSS PROFIT MARGIN

5

8.75

12.5

16.25

20

3M13 6M13 9M13 FY13 3M14 6M14 9M14 FY14 3M15 6M15 9M15 FY15

Infra & Building Energy & Industrial Plant Industry Property & Realty*JO: Join Operations


WIKA GROUP & SUBSIDIARIES

49% 51%

55%45%

Sales

Net Income

34%

66%

52% 48%

Sales

Net Income

53% 47%

56%44%

Sales

Net Income

FY2013 FY2014 FY2015

WIKA Group SUBSIDIARIES


0

0.725

1.45

2.175

2.9

2009 2010 2011 2012 2013 2014 2015

2.6

2.92.92.892.75

2.282.49

22

DEBT & LEVERAGE PERFORMANCE

0

0.175

0.35

0.525

0.7

2009 2010 2011 2012 2013 2014 2015

0.650.62

0.52

0.44

0.210.19

0.07

LIABILITIES to EQUITY RATIO GROSS GEARING RATIO

Debt Covenant : 3.5 Debt Covenant : 2.3


STABLE TREND IN CHALLENGING TIMESROE (%)

2009 2010 2011 2012 2013 2014 2015

1,513.911,401.48

1,212.00

870.00654.00

478.00485.00

Operating Margin

OPERATING PROFIT (IDR bio)

7.36% 7.93% 8.44% 8.78%

10.23%11.24% 11.11%

2009 2010 2011 2012 2013 2014 2015

1,098.081,139.191,016.00

833.00

630.00473.00

348.00

EBT Margin

EARNING BEFORE TAX (IDR bio)

6.11%

8.60% 9.19%10.02%

8.55% 9.13%8.06%

2009 2010 2011 2012 2013 2014 2015

625.00608.00570.00476.00

355.00285.00

189.00

Net Profit Margin

NET PROFIT (IDR bio)

2.87%

4.73% 4.58% 4.81% 4.8% 4.87% 4.59%

Revenue 9.28%

OPEX 8.07%

EBT (3.60%)

Net Profit 2.80%

YoY 2015


DESCRIPTION 2015 2014 GrowthNew Contract 25,221.76 17,631.94 43.05%Order Book 48,523.24 41,416.33 17.16%Net Sales 13,620.10 12,463.22 9.28%Cost of Sales (11,965.44) (11,038.65) 8.40%Profit (Loss) JO Projects 288.40 369.76 (22.00%)Gross Profit 1,943.06 1,794.33 8.29%

14.27 14.40Operating Expense (429.16) (392.85) 9.24%Operating Income 1,513.91 1,401.48 8.02%

11.12 11.24Other Income (expense) (415.82) (262.29) 58.54%Profit (Loss) before Income Tax 1,098.08 1,139.19 (3.61%)

8.06 9.14Final Tax (395.08) (395.42) (0.09%)Non Final Tax Deferred Tax Net Income 703.01 743.77 (5.48%)

5.90 5.97Other Comprehensive Income After TaxComprehensive Income 709.31 736.15 (3.65%)

5.21 5.91Income Attributable To:Parent Entity Owner 625.04 608.15 2.78%

4.59 4.88Non Controlling Interest 77.96 135.61 (42.51%)Total 703.01 743.77 (5.48%)Earning Per Share (full amount) 101.81 99.06

CONSOLIDATED OF COMPREHENSIVE INCOME 2015


Description 2015 2014 Growth YoYTotal Current Assets 12,560.29 9,481.21 32.48%

Total Non Current Assets 7,042.12 6,428.01 9.55%

TOTAL ASSETS 19,602.41 15,909.22 23.21%Total Current Liabillties 10,597.53 8,476.04 25.03%

Total Non Current Liabillities 3,566.77 2,556.42 39.52%

TOTAL LIABILLITIES 14,164.30 11,032.47 28.39%Share Capital 614.92 614.92

Tresury Stock (10.27) (10.27)

Additional Paid in Capital 715.86 715.86

Change of Equity in Subsidiaries 1,127.25 1,127.25

Retained Earning 2,013.22 1,523.05 32.18%

TOTAL EQUITY 5,438.10 4,876.75 11.51%Non Controlling Interest 1,062.94 989.17 7.46%

TOTAL LIABILLITIES & EQUITY 19,602.41 15,909.22 23.21%

CONSOLIDATED OF FINANCIAL POSITION 2015


Description 2015 2014

Received from customer 12,700.43 10,916.21Payment to Suppliers (11,155.71) (10,209.15)Payment for Director (286.83) (279.41)Payment for operating (168.46) (186.84)Deposite Interest 59.69 73.50Payment of interest (431.41) (122.33)Payment of Taxes (479.30) (369.67)CASH FROM OPERATING ACTIVITIES 238.41 (177.69)CASH FROM INVESTING ACTIVITIES (325.09) (1,268.22)CASH FROM FINANCING ACTIVITIES 345.91 2,360.10INCREASE (DECREASE) 259.23 914.19CASH BALANCE & CASH EQUIVALENT EARLY PERIODE 2,300.89 1,386.71CASH BALANCE & CASH EQUIVALENT END PERIODE 2,560.12 2,300.89

CONSOLIDATED STATEMENT OF CASH FLOW 2015


GUIDANCE 2016


ORDER BOOK, NEW CONTRACT, SALES & NET INCOME 2008 - 2016F

2008 2009 2010 2011 2012 2013 2014 2015 2016F

19,385

13,62012,46311,8859,905

7,7426,0236,5916,559

52,260

25,222

17,63217,73117,12513,568

10,22310,2518,961

86,003

48,523

41,41638,267

33,718

26,591

20,83917,907

14,590

Order Book New Contract Sales Net Income

CAGR Net Income

21.69%CAGR Sales

14.52%

28

156 189 285 354479 570 608 625

750

(stated in Billion IDR)


NEW CONTRACT AND CARRY OVER

ORDER BOOK FY2014 41,416.33 FY2015 48,523.24 FY2016F 86,003.03

FY2016F

FY2014 FY2015 FY2016

7.68%20.61%

55.68%

16.04%

17,631.94

FY2014 FY2015 FY2016F

3.66%

31.93%

58.02%

6.39%

23,784.39

Industry Infra & Building Energy & Industrial Plant Property & realty

NEW CONTRACT CARRY OVER

25,221.76 5.46%4.10%

75.64%

14.80%

23,301.49 1.92%29.23%

64.74%

4.11%

52,259.96

33,743.07

4.52%

13.87%

72.46%

9.14%

2.60%

22.66%

68.92%

5.82%


NEW CONTRACT BASED ON SCOPE OF WORK (2016F)

Industrial Plant

Precast

Building

Property

Toll, Road&Bridges

Port, Irrigation, DAM

Manufacture&Constr

Bitumen

Power Plant 4,468.6

107

1,045

4,549

26,307

2,363

5,880

3,625

3,914

FY2016F

NEW CONTRACT FY2016F 52,259.96

7.49%

6.94%

34.82%11.25%

4.52%

50.34%

8.70%

1.99%

8.55%

0.20%


NEW CONTRACT BASED ON PROJECT OWNER

34.82%

50.09%

2010 2011 2012 2013 2014 2015 2016F

31.6%

28.2%

40.2%

51.0%

30.6%

18.4%

55.7%

29%

15.3%

Private SOE Government

63.42%

15.85%

20.73%

39.69%

42.54%

17.77%


0

1750

3500

5250

7000

2012 2013 2014 2015 2016F

SubsidiariesFixed AssetBusiness DevelopmentCapital Placement

32

1,045.9691.4 753.8


6,980.62

927.15


IR’s UPDATE

Spirit of Innovation

Number of Outstanding

Shares

(as of January 31st,

2016

6.149.225.000

35

SHAREHOLDER’S STRUCTURE

Employees 1.09%

Foreign 15.18%

Indo Mutual Funds 5.86%

Indo Corporates 9.43%

Indonesian 3.39%

Government 65.05%

2016JANUARY

36

FOREIGN OWNERSHIP WIKA SHARES 2007-1M2016

0%

5.5%

11%

16.5%

22%

Jan

May Sep Ja

nM

ay Sep Jan

May Sep Ja

nM

ay Sep Jan

May Sep Ja

nM

ay Sep Jan

May

Sept

15.59%

WIKA’s shares price WIKA’s foreign ownership

IDR 2.815

Spirit of Innovation

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 the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal. The Information herein has been obtained 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 the use by recipient only and may not be reproduced or copied/photocopied or duplicated or made available in any form, by any means, or redistributed to others without written permission of PT Wijaya Karya (Persero) Tbk.

37

For further information Please contact Investor RelationsPT Wijaya Karya (Persero) TbkD.I Panjaitan Kav. 9 Jakarta 13340IndonesiaPhone: +62 21 8192808Fax: +62 21 [email protected]

IR contact

investor relations update ubs indonesia conference · pdf fileinvestor relations update ubs...

Documents