DAILY UPDATE April 29, 2016

Transcription

1 / DAILY UPDATE April 29, 2016 MACROECONOMIC NEWS US Economy U.S. economic growth slowed to its weakest pace in two years during the first quarter. GDP grew at a 0.5% seasonally adjusted annualised rate. Personal consumption rose at a 1.9% rate. Outlays on goods crept up just 0.1%, the slowest pace in almost five years. Spending on services increased 2.7%. Non-residential fixed investment tanked 5.9%, the biggest drop since Trade and inventories also subtracted from growth. The inventory build cut 0.33 percentage points from growth. Trade erased 0.34 percentage points. One highlight was spending on residential investment which spiked 14.8%, the quickest pace since the end of The number of Americans filing for new unemployment benefits rose last week. Initial claims for jobless benefits climbed 9,000 to a seasonally adjusted 257,000 in the week ended April 23. The four-week moving average dipped 4,750 to 256,000, the lowest level since Dec. 8, The number of continuing claims fell 5,000 to 2,130,000 in the week ended April 16. China Economy China s central bank strengthened the fixing for its currency against the dollar by the most since July The reference rate was raised by 0.6% to per dollar. A gauge of the greenback s strength sank 1%. The offshore yuan was little changed at after gaining 0.3 percent in the last session. Taiwan Economy Taiwan s economy contracted on a yearly basis for a third straight quarter as an export slump showed no signs of abating, adding urgency to President-elect Tsai Ingwen s pledge to revive growth when her term begins next month. GDP fell 0.84% YoY in the three months through March, according to preliminary data released by the statistics bureau. UK Economy U.K. house-price growth softened in April after a rush of investors trying to beat a tax change boosted the market earlier in the year, Nationwide Building Society said. The average price of a home gained 0.2% from March to 202,436 pounds (USD 294,800), the lender said. That is down from 0.7% MoM. The annual rate of growth eased to 4.9% from 5.7%. Equity Markets Closing % Change Dow Jones NASDAQ S&P MSCI excl. Jap Nikkei Shanghai Comp Hang Seng STI JCI Indo ETF (IDX) Indo ETF (EIDO) Currency Closing Last Trade US$ - IDR US$ - Yen Euro - US$ US$ - SG$ Commodities Last Price Chg %Chg Oil NYMEX Oil BRENT Coal NYMEX 43.5 Coal Newcastle Nickel Tin Gold CPO Rott CPO Malay Indo Gov. Bond Yields Last Yield Chg %Chg 1 year year year year year year PT. Panin Asset Management JSX Building Tower I, 3rd Floor Jl. Jend. Sudirman Kav , Jakarta T : (021) , F : (021)

2 BDMN PT Bank Danamon Indonesia will distribute 2015 cash dividend of IDR per share (30% payout ratio). BBRI PT Bank Rakyat Indonesia published its financial report for 3M16: BBRI (IDR bn) 3m m 2016 YoY Q Q QoQ Net Interest Income 13,497 15, % 15,415 15, % Non Interest Income 2,777 3, % 3,900 3, % Other Operating Expense 8,934 12, % 10,196 12, % Operating Profit 7,340 7, % 9,118 7, % Net Income Before Tax 7,631 7, % 9,873 7, % Net Income 6,143 6, % 6,981 6, % EPS (diluted) % % Mar '15 Mar '16 YoY Dec '15 Mar '16 QoQ CAR (after Market Risk) 20.08% 19.49% -2.90% 20.60% 19.49% -5.40% NIM 7.57% 8.09% 6.90% 8.10% 8.09% -0.10% ROE 29.84% 26.55% % 29.90% 26.55% % ROA 3.99% 3.65% -8.50% 4.20% 3.65% % NPL (Gross) 2.17% 2.22% 2.30% 2.00% 2.22% 11.00% NPL (Net) 0.60% 0.59% -1.70% 0.50% 0.59% 18.00% LDR 80.47% 88.81% 10.40% 86.90% 88.81% 2.20% BBKP PT Bank Bukopin has released its financial report for 3M16: BBKP (IDR bn) 3m m 2016 YoY Q Q QoQ Net Interest Income % % Non Interest Income % % Other Operating Expense % % Operating Profit % % Net Income Before Tax % % Net Income % % EPS (diluted) % % Mar '15 Mar '16 YoY Dec '15 Mar '16 QoQ CAR (after Market Risk) 14.80% 16.00% 8.10% 13.60% 16.00% 17.60% NIM 3.30% 3.20% -1.20% 3.60% 3.20% % ROE 12.80% 14.30% 11.80% 14.80% 14.30% -3.30% ROA 1.30% 1.40% 5.40% 1.40% 1.40% -1.40% NPL (Gross) 2.70% 3.30% 21.80% 2.80% 3.30% 16.60% NPL (Net) 2.00% 2.60% 29.60% 2.10% 2.60% 23.50% LDR 80.30% 81.80% 1.80% 86.30% 81.80% -5.30%

3 INDF PT Indofood Sukses Makmur has released its financial report for 3M16: INDF (IDR bn) 3M M 2016 YoY Q Q QoQ Revenue 15,021 16, % 16,498 16, % Gross Profit 4,108 4, % 4,391 4, % Operating Profit 1,615 1, % 1,794 1, % Pretax Earnings 1,098 1, % 2,339 1, % Net Income 870 1, % 1,284 1, % EPS (IDR) % % Gross Profit Margin 27.3% 27.9% 0.6% 26.6% 27.9% 1.3% Operating Profit Margin 10.8% 11.5% 0.7% 10.9% 11.5% 0.6% Net Profit Margin 5.8% 6.6% 0.8% 7.8% 6.6% -1.2% ICBP PT Indofood CBP Sukses Makmur released its financial report for 1Q16: ICBP (IDR bn) 3M M 2016 YoY Q Q QoQ Revenue 7,968 8, % 7,645 8, % Gross Profit 2,350 2, % 2,227 2, % Operating Profit 980 1, % 784 1, % Pretax Earnings 997 1, % 876 1, % Net Income % % EPS (IDR) % % Gross Profit Margin 29.5% 31.5% 2.0% 29.1% 31.5% 2.3% Operating Profit Margin 12.3% 14.5% 2.2% 10.3% 14.5% 4.3% Net Profit Margin 10.0% 10.6% 0.6% 7.3% 10.6% 3.3% JPFA PT Japfa Comfeed Indonesia reported 3M16 financial results: JPFA (IDR bn) 3M15 3M16 YoY Q Q QoQ Revenue 5,939 6, % 6,287 6, % Gross Profit 679 1, % 1,285 1, % Operating Profit % % Pretax Earnings % Net Income % EPS (IDR) % Gross Profit Margin 11.4% 17.4% 5.9% 20.4% 17.4% -3.1% Operating Profit Margin 1.9% 6.1% 4.3% 11.1% 6.1% -5.0% Net Profit Margin 4.3% 9.8% 4.3% -5.5% MYOR PT Mayora Indah announced its Q financial results: MYOR (IDR bn) 3M M 2016 YoY Q Q QoQ Revenue 3,456 4, % 4,128 4, % Gross Profit 947 1, % 1,140 1, % Operating Profit % % Pretax Earnings % % Net Income % % EPS (IDR) % % Gross Profit Margin 27.4% 28.5% 1.1% 27.6% 28.5% 0.9% Operating Profit Margin 11.3% 13.1% 1.8% 14.9% 13.1% -1.8% Net Profit Margin 7.9% 6.9% -1.0% 8.5% 6.9% -1.6%

4 ACES PT Ace Hardware announced its Q financial results: ACES (IDR bn) 3M M 2016 YoY Q Q QoQ Net Revenue 1,108 1, % 1,287 1, % Gross Profit % % Operating Profit % % Pretax Earnings % % Net Income % % EPS (IDR) % % Gross Profit Margin 47.7% 47.9% 0.2% 47.0% 47.9% 0.9% Operating Profit Margin 13.0% 13.7% 0.7% 18.8% 13.7% -5.1% Net Profit Margin 11.4% 12.0% 0.7% 15.2% 12.0% -3.1% TCID PT Mandom Indonesia reported its financial results for 3M16: TCID (IDR bn) 3m m 2016 YoY Q Q QoQ Revenue % % Gross Profit % % Operating Profit % % Pretax Earnings % % Net Income % % EPS (IDR) % % Gross Profit Margin 38.7% 39.1% 0.4% 41.2% 39.1% -2.1% Operating Profit Margin 15.5% 12.5% -3.0% 14.4% 12.5% -1.9% Net Profit Margin 9.5% 9.0% -0.6% 13.6% 9.0% -4.7% MIKA PT Mitra Keluarga Karyasehat has announced its 3M16 financial results: MIKA (IDR bn) 3M M 2016 YoY Q Q QoQ Revenue % % Gross Profit % % Operating Profit % % Pretax Earnings % % Net Income % % EPS (IDR) % % Gross Profit Margin 45.7% 47.4% 1.7% 45.2% 47.4% 2.2% Operating Profit Margin 30.6% 31.2% 0.6% 25.2% 31.2% 6.0% Net Profit Margin 26.8% 29.4% 2.6% 23.7% 29.4% 5.8% MLBI PT Multi Bintang Indonesia has published its 3M16 results: MLBI (IDR bn) 3M M 2016 YoY Q Q QoQ Revenue % % Gross Profit % % Operating Profit % % Pretax Earnings % % Net Income % % EPS (IDR) % % Gross Profit Margin 54.2% 61.0% 6.8% 65.8% 61.0% -4.8% Operating Profit Margin 26.6% 42.2% 15.6% 45.4% 42.2% -3.3% Net Profit Margin 18.9% 30.3% 11.4% 14.5% 30.3% 15.8%

5 WIIM PT Wismilak Inti Makmur released its financial results for 3M16: WIIM (IDR bn) 3M M 2016 YoY Q Q QoQ Revenue % % Gross Profit % % Operating Profit % % Pretax Earnings % % Net Income % % EPS (IDR) % % Gross Profit Margin 30.4% 31.5% 1.1% 32.2% 31.5% -0.7% Operating Profit Margin 11.2% 10.0% -1.1% 14.3% 10.0% -4.3% Net Profit Margin 8.0% 8.0% 0.0% 8.2% 8.0% -0.2% SIMP PT Salim Ivomas Pratama has released its 3M16 financial results: SIMP (IDR bn) 3m m 2016 YoY Q Q QoQ Revenue 2,659 3, % 3,775 3, % Gross Profit % % Operating Profit % % Pretax Earnings % % Net Income % % EPS (IDR) % % Gross Profit Margin 24.3% 17.9% -6.4% 21.9% 17.9% -4.0% Operating Profit Margin 14.4% 5.8% -8.6% 12.4% 5.8% -6.5% Net Profit Margin 1.8% 2.2% 0.4% 5.0% 2.2% -2.9% LSIP PT Perusahaan Perkebunan London Sumatra Indonesia published its 1Q2016 financial results: LSIP (IDR bn) 3m m 2016 YoY Q Q QoQ Revenue % 1, % Gross Profit % % Operating Profit % % Pretax Earnings % % Net Income % % EPS (IDR) % % Gross Profit Margin 26.1% 20.1% -6.0% 19.3% 20.1% 0.8% Operating Profit Margin 21.0% 9.4% -11.6% 19.6% 9.4% -10.2% Net Profit Margin 17.2% 6.3% -10.9% 13.8% 6.3% -7.5% AKRA PT AKR Corporindo will distribute 2015 cash dividend of IDR billion (45.8% payout ratio). Interim dividend of IDR 100 per share had been distributed on July 29 th The rest of IDR 20 per share will be paid on May 12 th WIKA PT Wijaya Karya plans to raise IDR 2 trillion from right issue this year (10% of shares outstanding), despite government stance on equity injection. Thus the company expects government s ownership will be diluted towards 55%. SMGR PT Semen Padang, subsidiary of SMGR, targets to build packing plant in Bengkulu to increase market penetration. Furthermore, Semen Padang targets 43.56% and 2.72% of market share in Sumatra and Java, respectively.

6 SMBR PT Semen Baturaja announced its Q financial results SMBR (IDR bn) 3M M 2016 YoY Q Q QoQ Revenue % % Gross Profit % % Operating Profit % % Pretax Earnings % % Net Income % % EPS (IDR) % % Gross Profit Margin 30.1% 25.5% -4.7% 33.4% 25.5% -8.0% Operating Profit Margin 16.6% 13.2% -3.4% 23.1% 13.2% -9.9% Net Profit Margin 25.6% 9.5% -16.1% 21.0% 9.5% -11.5% JSMR PT Jasa Marga released its 3m16 financial report: JSMR (IDR bn) 3M M 2016 YoY Q Q QoQ Revenue 1,971 2, % 3,589 2, % Toll Revenue 1,776 2, % 2,159 2, % Operating Profit % 1, % Pretax Earnings % % Net Income % % EPS (IDR) % % Operating Profit Margin 41.1% 33.7% -7.4% 32.5% 33.7% 1.2% Net Profit Margin 17.8% 14.1% -3.7% 13.6% 14.1% 0.5% IDPR PT Indonesia Pondasi Raya announced its Q financial results IDPR (IDR bn) 3M M 2016 YoY Q Q QoQ Revenue % % Gross Profit % % Operating Profit % % Pretax Earnings % % Net Income % % EPS (IDR) % % Gross Profit Margin 21.3% 26.9% 5.5% 72.2% 26.9% -45.4% Operating Profit Margin 13.6% 16.7% 3.1% 38.6% 16.7% -21.8% Net Profit Margin 12.2% 16.7% 4.5% 44.8% 16.7% -28.1% BSDE PT Bumi Serpong Damai published its 1Q16 results: BSDE (IDR bn) 3M M 2016 YoY Q Q YoY Revenue 1,624 1, % 1,576 1, % Gross Profit 1, % 1, % Operating Profit % % Pretax Earnings % % Net Income % % EPS (IDR) % % Gross Profit Margin 78.9% 74.7% -4.2% 74.8% 74.7% -0.1% Operating Profit Margin 51.3% 35.4% -15.9% 46.4% 35.4% -11.0% Net Profit Margin 48.6% 23.4% -25.2% 26.0% 23.4% -2.6%

7 DMAS PT Pura Deltamas announced its Q financial results: DMAS (IDR bn) 3M M 2016 YoY Q Q YoY Revenue % % Gross Profit % % Operating Profit % % Pretax Earnings % % Net Income % % EPS (IDR) % % Gross Profit Margin 63.8% 57.5% -6.3% 57.2% 57.5% 0.3% Operating Profit Margin 54.1% 50.2% -3.9% 47.8% 50.2% 2.4% Net Profit Margin 66.8% 46.1% -20.6% 24.7% 46.1% 21.4% MMLP PT Mega Manunggal Property announced its Q financial results: MMLP (IDR bn) 3M M 2016 YoY Revenue % Gross Profit % Operating Profit % Pretax Earnings % Net Income EPS (IDR) Gross Profit Margin 89.2% 88.6% -0.6% Operating Profit Margin 79.8% 72.8% -6.9% Net Profit Margin -3.5% 58.6% 62.1% TINS PT Timah reported 3M16 financial results: TINS (IDR bn) 3M15 3M16 YoY Q Q QoQ Revenue 1,374 1, % 1,732 1, % Gross Profit % % Operating Profit Pretax Earnings Net Income EPS (IDR) Gross Profit Margin 10.9% 0.5% -10.4% 10.3% 0.5% -9.8% Operating Profit Margin 0.9% 0.4% Net Profit Margin 5.3% INDY PT Indika Energy reported 3M16 financial results: INDY (USD mn) 3M15 3M16 YoY Q Q QoQ Revenue % % Gross Profit % % Operating Profit Pretax Earnings Net Income EPS (IDR) Gross Profit Margin 10.3% 10.5% 0.2% 3.4% 10.5% 7.0% Operating Profit Margin 2.7% Net Profit Margin 3.7%

8 INCO PT Vale Indonesia reported 3M16 financial results: INCO (USD mn) 3M15 3M16 YoY Q Q QoQ Revenue % % Gross Profit Operating Profit Pretax Earnings Net Income EPS (USD) Gross Profit Margin 21.9% 1.1% Operating Profit Margin 20.3% 0.0% Net Profit Margin 11.8% ELSA PT Elnusa will distribute 2015 dividend of IDR 10.2 per share (20% payout ratio). TMAS PT Pelayaran Tempuran Mas will distribute IDR 41.7 per share (15% payout ratio).

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