DAILY UPDATE April 1, 2019

Transcription

1 DAILY UPDATE April 1, 2019 MACROECONOMIC NEWS US Economy American consumers barely increased their spending in January after a sharp pullback in December, adding to recent evidence the economy may have slowed after strong growth in In addition, a broad measure of prices across the U.S. economy fell for the first time in 22 months, underscoring the Fed s struggle to get inflation up to its 2% target. Still, economists pointed to reasons they expect a spring pickup in growth, including rising incomes and strong consumer sentiment. Personal-consumption expenditures, a measure of household spending on everything from Netflix subscriptions to big-screen TVs, increased a seasonally adjusted 0.1% in January from the prior month. That was less than the 0.3% rise economists had projected, and it did little to recover lost ground after a 0.6% slump in December. US Housing Sales of new homes ramped up at the start of 2019, in a positive sign after a weak stretch for the housing market. Purchases of newly built single-family homes rose 4.9% to a seasonally adjusted annual rate of 667,000 in February. That is the highest level since last March and marks a significant upturn in new-home sales after being largely flat throughout CORPORATE NEWS EXCL PT XL Axiata obtained IDR 2 trillion working capital loan facility from UOB Indonesia. ADMF PT Adira Dinamika Multi Finance will distribute IDR 908 billion cash dividend or at IDR 908/share. The dividend payout ratio is 50% of FY18 s net income. WSKT PT Waskita Karya aims to achieve IDR 5 trillion cash operating cash flow in 2019, rose by +61.2% YoY from last year s achievement. AGRO PT Bank Rakyat Indonesia Agroniaga to distribute IDR billion FY 2018 cash dividend or at IDR 1.9 per share. The cum dividend date is on 8 April IMAS PT Indomobil Sukses International has obtained IDR 3.45 trillion worth of two syndicated loan facilities, consisting of tranche A of up to USD 145 million (or IDR 2.06 trillion) and tranche B of up to IDR 1.39 trillion. IMAS through its subsidiary, PT Indomobil Prima Energy (IPE) also received loan facility of up to IDR 130 billion from PT Bank Sumitomo Mitsui Indonesia. Equity Markets Currency Commodities Last Price Chg %Chg Oil NYMEX Oil Brent Coal Newcastle Nickel Tin Gold CPO Rott CPO Malay Indo Gov. Bond Yields Last Closing Closing % Change Dow Jones NASDAQ S&P MSCI excl. Jap Nikkei Shanghai Comp Hang Seng STI JCI Indo ETF (IDX) Indo ETF (EIDO) Last Trade US$ - IDR US$ - Yen Euro - US$ US$ - SG$ Yield Chg %Chg 1 year year year year year year PT. Panin Asset Management JSX Building Tower II, 11 th Floor Jl. Jend. Sudirman Kav , Jakarta T : (021) , F : (021)

2 IMJS PT Indomobil Multi Jasa reported 2018 results: IMJS (IDR bn) YoY Q Q Q YoY QoQ Revenue 2,712 3, % % 9.3% Gross Profit 1,147 1, % % 15.6% Operating Profit % % 78.2% Pretax Earnings % % -16.6% Net Income % % -33.2% EPS (IDR) % % -33.1% Gross Profit Margin 42.3% 43.2% 1.0% 45.2% 41.8% 44.3% -1.0% 2.4% Operating Profit Margin 4.4% 7.3% 3.0% 5.4% 5.3% 8.7% 3.3% 3.4% Net Profit Margin 7.2% 4.7% -2.5% 12.1% 3.3% 2.0% -10.1% -1.3% KBLI PT KMI Wire and Cable reported 2018 results: KBLI (IDR bn) YoY Q Q Q YoY QoQ Revenue 3,187 4, % 1, , % 67.79% Gross Profit % % 89.34% Operating Profit % % % Pretax Earnings % % % Net Income % % % EPS % % % Gross Profit Margin 16.2% 12.9% -3.3% 14.4% 13.1% 14.7% 0.4% 1.7% Operating Profit Margin 10.6% 8.7% -1.9% 10.3% 8.4% 12.1% 1.9% 3.7% Net Profit Margin 11.3% 5.9% -5.4% 7.4% 5.2% 8.8% 1.5% 3.7% BULL PT Buana Lintas Lautan reported 2018 results: BULL (USD mn) YoY Q Q Q YoY QoQ Revenue % % -3.89% Gross Profit % % -4.74% Operating Profit % % % Pretax Earnings % % % Net Income % % EPS % % Gross Profit Margin 43.4% 39.3% -4.1% 38.0% 37.9% 37.6% -0.4% -0.3% Operating Profit Margin 32.2% 31.2% -1.0% 24.2% 31.9% 29.2% 5.0% -2.6% Net Profit Margin 13.1% 15.8% 2.7% 17.2% 17.5% 19.0% 0.3% CARS PT Bintraco dharma released its FY18 results CARS (IDR bn) YoY Q Q Q YoY QoQ Revenue 7,202 8, % 1,942 1,900 2, % 36.5% Gross Profit 1,101 1, % % 1.4% Operating Profit % % -47.8% Pretax Earnings % % -45.9% Net Income % % -41.4% EPS (IDR) % % -41.4% Gross Profit Margin 15.3% 14.9% -0.4% 13.1% 16.2% 12.0% -1.1% -4.2% Operating Profit Margin 5.2% 4.5% -0.6% 3.4% 6.0% 2.3% -1.1% -3.7% Net Profit Margin 2.8% 2.9% 0.1% 2.1% 3.1% 1.3% -0.7% -1.8%

3 TBIG PT Tower Bersama disclosed its FY18 results TBIG (IDR bn) YoY Q Q Q YoY QoQ Revenue 4,023 4, % 1,048 1,089 1, % 5.6% Gross Profit 3,355 3, % % 6.2% Operating Profit 3,012 3, % % 5.8% EBITDA 3,256 3, % , % 38.2% Pretax Earnings 908 1, % % 15.4% Net Income 2, % 1, % -74.4% EPS (IDR) % % -83.0% Gross Profit Margin 83.4% 81.8% -1.6% 83.0% 81.7% 82.2% -0.8% 0.5% Operating Profit Margin 74.9% 73.0% -1.9% 74.4% 72.9% 73.0% -1.4% 0.1% EBITDA Margin 80.9% 85.7% 4.8% 80.2% 79.0% 103.4% 23.2% 24.4% Net Profit Margin 57.6% 15.7% -41.8% 159.0% 20.2% 4.9% % -15.3% SMCB PT Solusi Bangun Indonesia (formerly PT Holcim Indonesia) announced its FY 2018 results: SMCB (IDR bn) YoY Q Q Q YoY QoQ Revenue 9,382 10, % 2,502 2,921 3, % 2.8% Gross Profit 1,874 1, % % -33.2% Operating Profit % % 85.3% Pretax Earnings Net Income EPS (IDR) Gross Profit Margin 20.0% 15.8% -4.1% 33.6% 22.7% 14.7% -18.8% -7.9% Operating Profit Margin 7.8% 4.0% -3.8% 33.3% 7.6% 13.7% -19.7% 6.1% Net Profit Margin APLN PT Agung Podomoro Land announced its FY 2018 results: APLN (IDR bn) YoY Q Q Q YoY QoQ Revenue 7,043 5, % 1,584 1,306 1, % -5.7% Gross Profit 3,422 2, % % -22.0% Operating Profit 2,039 1, % % -78.1% Pretax Earnings 2, % 1, Net Income 1, % EPS (IDR) % Gross Profit Margin 48.6% 48.0% -0.6% 48.5% 56.0% 46.3% -2.2% -9.7% Operating Profit Margin 28.9% 22.7% -6.3% 20.4% 33.7% 7.8% -12.5% -25.9% Net Profit Margin 19.5% 0.6% -18.9% 52.4% 18.9% BKSL PT Sentul City announced its FY 2018 results: BKSL (IDR bn) YoY Q Q Q YoY QoQ Revenue 1,623 1, % % 101.4% Gross Profit % % 31.4% Operating Profit % % 57.4% Pretax Earnings % % Net Income % % EPS (IDR) % % Gross Profit Margin 59.2% 53.9% -5.3% 68.6% 60.1% 39.2% -29.4% -20.9% Operating Profit Margin 42.9% 29.3% -13.6% 60.4% 30.6% 23.9% -36.5% -6.7% Net Profit Margin 28.6% 25.5% -3.1% 42.0% 56.8% 14.8%

4 CTRA PT Ciputra Development announced its FY 2018 results: CTRA (IDR bn) YoY Q Q Q YoY QoQ Revenue 6,443 7, % 2,094 1,886 2, % 58.0% Gross Profit 2,997 3, % , % 39.0% Operating Profit 1,553 2, % % 40.6% Pretax Earnings 1,293 1, % % 52.5% Net Income 894 1, % % 50.1% EPS (IDR) % % 50.1% Gross Profit Margin 46.5% 47.3% 0.8% 43.7% 51.1% 44.9% 1.2% -6.2% Operating Profit Margin 24.1% 26.7% 2.6% 27.3% 33.1% 29.4% 2.1% -3.6% Net Profit Margin 13.9% 15.5% 1.6% 15.7% 21.4% 20.3% 4.7% -1.1% MDLN PT Modernland Realty announced its FY 2018 results: MDLN (IDR bn) YoY Q Q Q YoY QoQ Revenue 3,196 2, % 1, % 46.7% Gross Profit 1,938 1, % % 55.5% Operating Profit 1, % % Pretax Earnings % Net Income % EPS (IDR) % Gross Profit Margin 60.6% 51.1% -9.5% 67.6% 55.6% 59.0% -8.6% 3.4% Operating Profit Margin 43.4% 25.2% -18.2% 56.8% 30.0% -26.7% Net Profit Margin 19.2% 1.2% -18.0% 36.6% MYRX PT Hanson International announced its FY 2018 results: MYRX (IDR bn) YoY Q Q Q YoY QoQ Revenue 885 1, % % -76.0% Gross Profit % % -56.5% Operating Profit % % -66.8% Pretax Earnings % Net Income % EPS (IDR) % Gross Profit Margin 33.8% 43.5% 9.6% 63.6% 40.5% 73.3% 9.8% 32.8% Operating Profit Margin 14.3% 34.5% 20.1% 32.9% 45.5% 45.5% 12.6% Net Profit Margin -13.9% 8.0% 21.9% 21.0% MAPB PT MAP Boga Adiperkasa disclosed its FY 2018 results MAPB (IDR bn) YoY Q Q Q YoY QoQ Revenue 2,048 2, % % -8.6% Gross Profit 1,478 1, % % -9.4% Operating Profit % % -48.7% Pretax Earnings % % -56.5% Net Income % % -69.5% EPS (IDR) % % -69.5% Gross Profit Margin 72.2% 71.5% -0.6% 71.8% 71.1% 70.4% -1.3% -0.7% Operating Profit Margin 8.3% 6.8% -1.5% 9.3% 8.5% 4.8% -4.5% -3.7% Net Profit Margin 5.2% 4.8% -0.4% 6.2% 6.5% 2.2% -4.0% -4.3%

5 MAPI PT Mitra Adiperkasa disclosed its FY 2018 results: MAPI (IDR bn) YoY Q Q Q YoY QoQ Revenue 16,306 18, % 4,622 4,722 5, % 7.9% Gross Profit 7,856 9, % 2,165 2,154 2, % 19.8% Operating Profit 1,121 1, % % 46.9% Pretax Earnings 597 1, % % 189.2% Net Income % % 166.8% EPS (IDR) % % 166.8% Gross Profit Margin 48.2% 47.8% -0.3% 46.8% 45.6% 50.6% 3.8% 5.0% Operating Profit Margin 6.9% 8.0% 1.1% 7.3% 6.4% 8.7% 1.5% 2.3% Net Profit Margin 2.1% 3.9% 1.8% 1.5% 1.4% 3.5% 2.0% 2.1% BWPT PT Eagle High Plantations reports 1.8 million tons FFB production, 383 thousand tons CPO production and 63 thousand tons PKO production in FY 2018, rose by +33% YoY, +24% YoY and +29% YoY, each.

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