INVESTOR NEWSLETTER. Contents Investor Update 2... Financial Highlights 6... Share Price History 7... About LTLS.

Transcription

1 April 5 th, 2016 Distributor and Manufacturer - Basic and Specialty Chemicals INVESTOR NEWSLETTER Contents 1... Investor Update 2... Financial Highlights 6... Share Price History 7... About LTLS

2 INVESTOR UPDATE PT LAUTAN LUAS Tbk completed the new Distribution Centre strategically located in Semper, near the Tanjung Priok port, as part of efforts to strengthen the distribution network. This bulk chemical handling facility addresses the commitment of the Company to provide modern quality control systems. 1

3 FINANCIAL HIGHLIGHTS PT LAUTAN LUAS Tbk is pleased to announce its full year 2015 results as follows: Despite the domestic and regional economic environment, Lautan Luas (LTLS) posted full year 2015 revenue of Rp 6,466 billion, up by 9.8% compared to the previous year result of Rp 5,888 billion. The increase was driven mainly by growth in the Distribution segment, which was reflected to several product segments. Gross margin for the year was down slightly compared to the previous year on the weakness of the Rupiah due to the slow market conditions. Operating income was down by 22.5% versus the prior year period due mainly to lower other income. Last year, the Company recorded a net other income of Rp 104 billion, derived primarily from a gain on the sale of an investment undertaken in line with the Company s plan to focus on its core businesses. Net profit in the reported period was also impacted by increased financing costs due to higher bank borrowings, as well as less favorable performance from our affiliate companies. In 2015, EBITDA reached Rp 408 billion, down by Rp 118 billion from the prior year. The decrease was primarily due to lower other income on the 2014 sale of an investment undertaken in line with the Company s plan to focus on its core businesses, as described earlier. Global economic instability impacted Indonesian equity markets as well. Management approved a program to take advantage of the depressed valuations by authorizing a buyback of Company shares with a value up to 3% of paid-in capital. The program was funded through internal cash flows. 2

4 FINANCIAL HIGHLIGHTS CONSOLIDATED INCOME STATEMENT in Billion IDR FY15 FY14 YoY% 4Q15 3Q15 QoQ% Revenue 6,466 5, ,627 1, Gross Profit 1,084 1, Gross Profit Margin 16.77% 17.31% (0.54) 16.76% 16.63% 0.13 Selling, general and administrative (749) (684) 9.46 (196.85) (185.05) 6.38 expenses Forex Gain (Loss) (22) (19) (6.64) 3.85 (272.55) Other Income (Expenses) (88.60) Operating Income (22.47) Operating Income Margin 5.04% 7.13% (2.10) 4.72% 4.73% (0.02) Profit Before Income Tax (72.22) (3) 1 (349.12) Total Comprehensive Income (27.61) (89) 39 (324.88) Profit for The Year Attributable to Owners of the Parent Entity (97.53) (20) (14) Net Margin 0.06% 2.80% (2.74) (1.25%) (0.95%) (0.28) EBITDA* (22.33) USD : IDR Exchange Rate Average Rate** 13,457 11,802 13,457 13,261 Ending Rate 13,795 12,440 13,795 14,657 * EBITDA does not include foreign exchange gains or losses for the relevant period ** Average Rate is defined as the average closing rate at the end of each day for the relevant period 3

5 FINANCIAL HIGHLIGHTS CONSOLIDATED BALANCE SHEET in Billion IDR Dec-2015 Dec-2014 YoY% Dec-2015 As of 30- Sept-2015 QoQ% Cash & Equivalent (47.29) (71.33) Short Term Investments net (3.70) Trade Receivables 1,333 1, ,333 1, Inventories (2.17) Others (44.75) Current Assets 2,649 2, ,649 3,095 (14.41) Fixed Assets 1,589 1, ,589 1, Others 1,155 1, ,155 1,217 (5.13) Non-Current Assets 2,744 2, ,744 2, Total Assets 5,393 4, ,393 5,793 (6.90) in Billion IDR Dec-2015 Dec-2014 YoY% Dec-2015 As of 30- Sept-2015 QoQ% Bank Borrowings 1, ,338 1,680 (20.35) Trade Payables 1,146 1, ,146 1, Leasing / Bank Others (17.43) Current Liabilities 2,727 2, ,727 3,008 (9.33) Bond/Leasing/Bank (4.20) (1.28) Others Non-Current Liabilities 1,046 1,055 (0.80) 1,046 1, Equity 1,620 1, ,620 1,767 (8.33) Total Liabilities & Equity 5,393 4, ,393 5,793 (6.90) 4

6 Financial Highlights Working Capital Cycle in Billion IDR Trade Receivables (T/R) 1,333 1,127 1, ,049 T/R Days Inventories ,009 Inventory Days Trade Payables (T/P) 1,146 1,027 1, T/P Days Working Capital Trade 1, ,063 (T/R + Inv T/P) days Key Performance Ratios Asset Growth (%) Revenue Growth (%) (7.70) Gross Margin (%) Operating Margin (%) EBITDA */Net Int. Exp. ** (X) Net Debt ***/Equity (X) Net Debt ***/EBITDA* (X) Current Ratio (X) **** * EBITDA does not include foreign exchange gains or losses for the relevant period ** Net Interest Expense is defined as Interest Expense less Interest Income *** Net Debt is defined as Total Interest Bearing Loans less Cash & Cash Equivalents **** The Current Ratio includes the Company s Bond III/2008 obligations which matured in March

7 Share Price History Share(millions) 1,560 Price in 2015, Dec 30 (Rp) 500 Price / Earning (x) Dividend Yield (%) 9.20 ROE (%) wk High (Rp) wk Low (Rp) 825 EPS (in Rp) 3 6 6

8 About LTLS Established in 1951, PT LAUTAN LUAS Tbk is a distributor and manufacturer of basic and specialty chemicals. The Company represents over 100 international principals, distributing over 1,000 chemical products to more than 2,000 industrial customers throughout Indonesia and the Asia Pacific region. In addition to the Jakarta headquarter, the Company operates five branches and nine representative offices located in various major cities throughout the archipelago, including a regional office in Singapore that oversees company operations in China, Thailand, and Vietnam. In manufacturing, the Company currently has stakes in seventeen production facilities in Indonesia, two facilities in China, and one in Vietnam. Its Support & Services business comprise of three subsidiaries that were previously the Company s internal departments, offering supply chain, IT, and laboratory services. For more information, please contact Investor Relations Eurike Hadijaya Investor.relations@lautan-luas.com UPCOMING EVENT May 25 th, 2016 Analyst Meeting FY15 & 1Q16 Rose Garden International Restaurant Graha Indramas, 3 rd Floor Jln. AIP II K.S. Tubun Raya No. 77, Jakarta PT Lautan Luas 7