Company Update PT PANORAMA SENTRAWISATA, Tbk

Transcription

1 Company Update PT PANORAMA SENTRAWISATA, Tbk November

2 Result Highlights Sales (Gross Revenue) in 9M2016 reported Rp 3,461 Billion, an increase by 22.0% compared to 9M2015 EBITDA in 9M2016 reported Rp 166 Billion, an increase by 21.6% compare to 9M2015 The biggest Sales (Gross Revenue) has been contributing from Travel & Leisure Pillar with the implementation of digital information technology and supported with Government s Priority Programs for Tourism, the weakening of oil price, and the appreciation of Rupiah The newly acquired Inbound company has also contirbuting to the increase of Sales (Gross Revenue) Description 9M2015* Un-Audited 9M2016 Un-Audited Change % Change Sales (Gross Revenue) (Rp Billion) 2,838 3, % Net Revenue (Rp Billion) 1,554 1, % Operating Income (Rp Billion) % Net Profit (Rp Billion) % EBITDA (Rp Billion) % 2015** Audited 9M2016 Un-Audited Change % Change Shareholders funds (Rp Billion) % Book Value per Share (Rp) % * Based on Last Year Financial Report ** Statement of Financial Position as at 31 December 2015 Source :Company 2

3 INDUSTRY OUTLOOK 3

4 Industry Outlook Pro-Tourism Government Tourism to be #1 by Free VISA countries 10 New Bali Destinations Growth of Middle-Affluent Class Better Country Branding Growth of Millennials Oil Price Weakened Quality rooms needed More MICE cities and venues Better Economy, Better Income, More Spending VFR (visit family/relatives) needs hotels MICE market spend 3X bigger than Leisure market Establishment of INACEB More growth booster for Tourism Industry 4

5 Indonesia s Macro Pictures Incoming foreign tourist to Indonesia for 9M2016 was 8.4 million tourists or an increase by 8.51% compared to 9M2015 which was 7.7 million tourists Air passengers of domestic and international air flights in Indonesia for 9M2016 was 70 million passengers or an increase by 15.68% compared to 9M2015 which was 61 million passengers The average occupancy rate of hotel in Indonesia for 9M2016 was 52.90% compared to 9M2015 which was 51.82%, and the hotel room nights sold in Indonesia for 9M2016 was 32 million room nights or an increase by 13.39% compared to 9M2015 which was 28 million room nights Source :Central Bureau of Statistics (BPS), Company 5

6 PT PANORAMA SENTRAWISATA, Tbk 6

7 PT Panorama Sentrawisata, Tbk Inbound Travel & Leisure Media Hospitality Transportation Panorama Destination Asia World Indonesia Panorama Tours Panorama Tours.com Chan Brothers Travel Indonesia MG Bedbank Rajakamar.com TurEZ Smart Holiday J-Travl Go Holidays Travelicious.co.id Orange Panorama Publication Panorama Magazine Get Lost Magazine Panorama Events The 1O1 Yogyakarta Tugu White Horse Group DayTrans Joglosemar Canary Europcar Indonesia GrayLine Jakarta Carlson Wagonlit Travel Indonesia Reed Panorama Exhibition Chan Brothers Travel Carlson Wagonlit Travel Reed Elsevier Carlson Rezidor Hotel Group GrayLine Europcar Subsidiaries Associated Companies Strategic Partner Alliance 7

8 Panorama s Development 2 FEBRUARY 2016 Panorama s Inbound pillar acquired 80% ownership of an Inbound Company focusing on Europe and America Market. It is expected to contribute 25% of Inbound s revenue in APRIL 2016 Panorama manage dto reaffirmed its ida- Rating with Stable Outlook from PEFINDO despite the slow growth of Indonesian economic since 2015, where many other companies in different industries have been downgraded 6 JUNE 2016 Panorama has revaluated it s Assets to take advantage of the Government s policy of Asset Revaluation tax relief 7 JULY 2016 Panorama has distributed cash dividend for 10% of net profit, compared to 16% of net profit in

9 Panorama s Development 10 OCTOBER 2016 Panorama has been awardedas one of the top 50 Best of the Best Company in Indonesia by Forbes for three consecutive years (2014, 2015, 2016) 10 OCTOBER 2016 On 28 October, our hotel distribution subsidiary (PT Raja Kamar International) as part of the Travel & Leisure pillar has signed a Shares Subscription Agreement (SSA) which regulates terms and conditions of plan of issuance of new shares which will be subscribed by Archipelago Tourism Limited (Northstar Group) in two stages. The first stage would be in the Rupiah equivalent of US $ 10,000,000 based on the exchange rate which has been agreed where this will represent 11.26% ownership (calculated under the assumption that the Rupiah to US Dollar exchange rate is IDR 13,050 and subject to change depending on the Rupiah exchange rate on the fulfilment of all conditions precedent), while the second phase will be determined in 2017 according the performance of the business with the maximum ownership of 31,98%. 9

10 FINANCIAL PERFORMANCE 10

11 Q on Q Performance Result Net Revenue % 10 % 282 1, % 47 1, , Gross Profit Net Profit Q1 Q2 Q3 Q1 Q2 Q3 Q1 Q2 Q3 Source :Company 30% 25% 20% 15% 10% 5% 0% Q Q Profitability Margin Q Q Q Q Q Q Q Q Q Gross Profit Margin 22% 18% 19% 22% 22% 17% 19% 28% 25% 20% 19% Operating Profit Margin 6.5% 6.7% 5.2% 6.2% 6.0% 6.6% 6.2% 2.7% 8.3% 7.1% 5.7% Net Profit Margin 2.3% 2.5% 3.8% 3.7% 2.1% 3.1% 2.9% 2.0% 2.9% 2.4% 3.6% 11

12 Consolidated Income Statement Sales (Gross Revenue) in 9M2016 reported Rp 3,461 Billion, an increase by 22.0% compared to 9M2015 EBITDA in 9M2016 reported Rp 166 Billion, an increase by 21.6% compared to 9M2015 The biggest Sales (Gross Revenue) has been contributing from Travel & Leisure Pillar with the implementation of digital information technology and supported with Government s Priority Programs for Tourism (free visa for 169 countries to Indonesia and huge promotion budget), the weakening of oil price, and the appreciation of Rupiah The newly acquired Inbound company has also been contributing to the increase of Sales (Gross Revenue) Description 9M2015* Un-Audited 9M2016 Un-Audited Change % Change Sales (Gross Revenue) (Rp Billion) 2,838 3, % Net Revenue (Rp Billion) 1,554 1, % Gross Profit (Rp Billion) % Operating Expense (Rp Billion) (196) (231) (35) 18.0 % Interest Expense (Rp Billion) (39) (68) (29) 77.1 % Other Income (Expense) (Rp Billion) ,933.7 % Income Tax Expense (Rp Billion) (17) (12) 5 (32.0) % Non-controlling Interests (Rp Billion) % Net Income (Rp Billion) % EBITDA (Rp Billion) % Earnings per Share (Rp) (annualized) (3.46) (9.3) % * Based on Last Year Financial Report 12

13 Consolidated Balance Sheet There are signifcant changes of Assets and Equity due to Assets Revaluation in 9M2016 The increase of Debt used to finance working capital and new vehicle acquisition and Information Technology s infrastructure Panorama s Net Asset value per shares amounted to Rp in 9M2016, a 94.9% higher compared to the end of Description (In Rp Billion ) 2015 Audited 9M2016 Un-Audited Change % Change Cash and Cash equivalent % Restricted Time Deposit % Trade Account Receivables % Property and Equipment-net 811 1, % Other Assets % Total Assets 1,746 2, % Short-term Debt % Trade Account Payables (9) (3.9) % Due from Related Parties 37 5 (32) (86.0) % Long-term Debt % Other Liabilities (51) (19.4) % Total Liabilities 1,333 1, % Equity attributable to Parents Company % Non-controlling Interest % Total Equity % Net Debt % 13

14 Panorama s Grand Strategies for To expand the operation networks and market access benefiting from Tourism momentum and to upgrade the quality of the services delivered To expand the operation networks and market access to tap the growing demands in the Indonesia domestic source market as well as international source market. To expand and strengthen the MICE businesses by launching and acquiring new exhibitions and the Hospitality sector in various tourist destinations around Indonesia. To improve and upgrade the quality and professionalism of the human resources and to synergize all business pillars through Information & Technology. 5 To strengthen capital structure through Asset Revaluation, to explore cooperation with strategic partners, and to explore an opportunity for a Right- Issue plan in 2017 with fund target of Rp Billion. 14

15 For further information please contact: PT. Panorama Sentrawisata Tbk Corporate Secretary Panorama Building 6 th floor, Jl. Tomang Raya no. 63 Jakarta Barat T : F : E: investor.relation@panorama-group.com corsec.panr@panorama-group.com W : 15

16 Disclaimer This report has been prepared by PT Panorama Sentrawisata, 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 Panorama Sentrawisata, 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 Panorama Sentrawisata 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 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. 16