PT Astra International Tbk 2012 Results Presentation UBS Indonesia Conference 2013, 5-6 March 2013, Mandarin Oriental Hotel Jakarta Disclaimer: This report has been prepared by PT Astra International Tbk independently and is circulated for the purpose of general information only. It is not intended for the specific person who may receive this report. The information in this report has been obtained from sources which we deem reliable. No warranty (expressed or implied) is made as to the accuracy or completeness of the information. All opinions and estimations included in this report constitute our judgment as of this date and are subject to change without prior notice. We disclaim any responsibility or liability whatsoever arising which may be brought or suffered by any person as a result of acting in reliance upon the whole or any part of the contents of this report and neither PT Astra International Tbk and/or its affiliated companies and/or their respective employees and/or agents accepts liability for any errors, omissions, negligent or otherwise, in this report and any inaccuracy herein or omission here from which might otherwise arise. Cautionary note on forward-looking statements: This report may contain statements regarding the business of PT Astra International Tbk and its subsidiaries that are of a forward- looking nature and are therefore based on management's assumptions about future developments. Forward-looking statements involve certain risks and uncertainties because they relate to future events. Actual results may vary materially from those targeted, expected or projected due to several factors. Potential risks and uncertainties includes such factors as general economic conditions, foreign exchange fluctuations, interest rate changes, commodity price fluctuations and regulatory developments. The reader and/or listener is cautioned to not unduly rely on these forward-looking statements. We do not undertake any duty to publish any update or revision of any forward-looking statements.
Highlights Overview The Group’s net earnings per share were up 9% to Rp 480, with improved contributions from the Group’s car and financial services businesses partially offset by lower earnings in the Group’s heavy equipment and mining activities and motorcycle businesses. 2012 full year financial statements • Net earnings per share up 9% to Rp 480 • Unit sales of cars up by 25%, while motorcycles 4% lower • Good earnings growth from financial services • Strong operating results from mining contracting • Reduced contribution from heavy equipment due to softening coal sector demand Group results Full Year ended 31 st December 2012 2011 Change % Net Revenue (Rp bn) 188,053 162,564 16% Net Income (Rp bn)* 19,421 17,785 9% Earnings per share (Rp) 480 439 9% As at 31 st As at 31 st December 2012 December 2011 Shareholders’ Funds (Rp bn)** 71,201 60,449 18% Net asset value per share (Rp)** 1,759 1,493 18% * Net income is profit attributable to owners of the parent. ** Shareholders' funds and Net asset value per share are based on equity attributable to owners of the parent. 1
Business structure Automotive Financial Services Heavy Equipment Agribusiness Infrastructure Information & Mining & Logistics Technology Automobile Construction Palm Oil Toll Road Document Automobile Machinery Solution • Toyota • Astra Credit • Daihatsu Companies • Isuzu • MMS : 72km • United Tractors Astra Graphia • Toyota Astra • BMW • MTN : 11km • Traktor Astra Agro Lestari Finance • Peugeot • MHI : 41km Nusantara • UD Trucks Motorcycle IT Solution Logistics Motorcycle Mining Contractor Federal Intl. • SERA / TRAC Finance Astra Graphia • Mobil 88 (used) PAMA Persada Honda Information • SELOG Nusantara Technology Heavy Equipment • TFLI • SAN Finance Component • Komatsu Astra Coal Mining Water Utility Finance Astra Otoparts • PMM Palyja • TTA Banking • ABP • BEE Bank Permata Fuel Logistic Others • ABB / ABJ • DS / DN Gresik Terminal • PJU Astraworld Insurance Asuransi Astra Buana 2
Market position at 31 December 2012 • Astra maintains car market share at 54%, while motorcycle market share increasing from 53% to 58% • Market share for Komatsu declined by 6% driven by weakening coal price and increased competition Car Motorcycle Others Kawasaki 10% Suzuki 2% Honda 6% 6% Toyota 36% Nissan 6% Yamaha Honda Suzuki 34% 58% 11% Heavy Equipment Others, 4% Kobelco, Mitsubishi Daihatsu 13% Isuzu 13% 15% Komatsu, 3% Source : AISI 43% Source : Gaikindo Hitachi, 21% Caterpillar, 19% Source: United Tractors – Internal Market Research 3
2012 corporate actions • SANF issued Bond II amounting to Rp 1.5 trillion January • ASF issued Bond (PUB 1 2012) with total of Rp 5 trillion February • TTA completed coal mining acquisition of Duta Nurcahya (DN) with share ownership of April 60% • FIF issued Bond (PUB 1 2012) with total of Rp 4 trillion • AI announced a 10 for 1 stock split June • AI paid final 2011 dividend amounting to Rp 5.6 trillion with DPR 45%. Total 2011 dividend Rp 8 trillion • AOP and Pirelli established a joint venture “PT Evoluzione Tyres ” to produce auto tire in Indonesia • TAFS issued Bond II amounting to Rp 1.3 trillion • Bank Permata issued Subordinated Debt amounting to Rp 700 billion • SERA issued “Serasi Autoraya III” bonds with total principal amount of Rp 780 billion July • AOP formed a JV company “PT Astra Juoku Indonesia” to produce automotive lamp 4
2012 corporate actions • AOP established two subsidiary companies to produce 4W plastic parts, tube, hose, and September transmission belt • Astra introduced new collaboration for Low Cost Fuel Efficient cars named “Astra Toyota Agya ” and “Astra Daihatsu Ayla ” • UT through TTA acquired 60% of Piranti Jaya Utama (“PJU”), a coal concession in Barunang, Central Kalimantan • ASF issued Bond (PUB 1 2012) with total of Rp 1.53 trillion October • AHM completed cub to scooter facility conversion project, effectively increased scooter capacity by 1,000 units/day to become 10,600 units/day • ADM completed new plant in Karawang with total production capacity 120k units/year • November AI paid interim dividend for book year 2012 with DPS of Rp 66 (DPR 45%) • AI established PT Astra Auto Prima for BMW used car trading • December Bank Permata completed Right Issue V of Rp 2 trillion and issued subordinated loan of Rp 1.8 trillion to strengthen CAR above 12% 5
Financial Performance
2012 environment Indonesia domestic consumption and investment remain strong, despite widening trade deficit that put pressure on IDR against USD Strong domestic car sales benefited from rising incomes. The impact of new minimum down-payment requirements in automotive conventional financing introduced in mid-June 2012 was mild for car sales Motorcycle sales adversely affected by new minimum down-payment requirements and lower demand in some areas from outside Java due to declining commodity prices Financial services business recorded higher financing growth benefited from ample funding liquidity and competitive funding cost Slowing demand in the heavy equipment business reflects weakening coal prices and increased competition from excess production redirected from the Chinese market Despite lower average crude palm oil prices, palm oil production increased due to higher matured area and seasonally high crops productivity 7
Consolidated income statement “The Group’s good result in 2012 was due primarily to strong car sales, enabling Astra to report another year of record earnings and net assets per share. Slowing demand in the heavy equipment business reflected weakening coal prices, while falling CPO prices also affected profitability despite output increasing. While the prospects for our businesses remain sound, the outlook is susceptible to coal and CPO price volatility as well as the effects of new minimum down-payment regulations in automotive Shariah- financing.” Prijono Sugiarto President Director In Billion Rupiah 2012 2011 % Chg USD / IDR, average 9,419 8,773 7% Revenue 188,053 162,564 16% Gross Profit 36,200 32,034 13% Operating Expenses (16,330) (14,202) 15% Other Income 2,352 2,182 8% Equity Income 5,676 5,760 (1%) Income Tax Expense (5,156) (4,697) 10% Non-controlling interest (3,321) (3,292) 1% Net Income 19,421 17,785 9% 8
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