PT INDUSTRI DAN PERDAGANGAN BINTRACO DHARMA Tbk Q Results
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1 PT INDUSTRI DAN PERDAGANGAN BINTRACO DHARMA Tbk Q Results
2 2 Disclaimer This presentation has been prepared by PT Industri dan Perdagangan Bintraco Dharma Tbk, abbreviated as Bintraco or Bintraco Dharma, independently and is circulated for the purpose of general information only. It is not intended for the specific person who may receive this presentation. The information in this presentation 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 presentation 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 presentation and neither PT Industri dan Perdagangan Bintraco Dharma 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 presentation and any inaccuracy herein or omission here from which might otherwise arise. Cautionary note on forward-looking statements: This presentation may contain statements regarding the business of PT Industri dan Perdagangan Bintraco Dharma 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.
3 3 Table of Contents Disclaimer 2 1. Executive Summary 4 2. Business Segments 6 3. Financial Summary 11
4 Executive Summary in billions Rp M16 9M17 (unless otherwise stated) Audited Unaudited Unaudited %YoY Net Revenue 6,790 4,981 5,261 6% Gross Profit 1, % %Gross Profit Margin 16.6% 17.2% 16.1% Net Profit* % %Net Profit Margin 2.4% 3.1% 3.1% 31 Dec Sep 2017 Audited Unaudited %Change Total Assets 6,451 8,423 31% Total Equity 1,410 1,803 28% Return on Assets 2.6% 2.5% Return on Equity 11.7% 11.9% Q Results Bottom line grew 6% inline and top line grew 6% reflecting moderate growth in auto market. Automotive segment revenue slightly grew 4% with Calya as growth driver. Financing segment revenue rose 16% thanks to volume increase besides higher interest rate charged. Gross Profit decrease was result of higher purchase cost from principal as compensation for Toyota s support for logistic operation hence growth of Net Profit was higher than of Gross Profit. Bintraco bottom line result was also supported by lower percentage of OPEX-to-revenue in automotive and lower cost-to-income in financing segment. Besides that, higher Income from investment in associate company contributed to higher Net Profit. Source : Consolidated Financial Statements PT Bintraco Dharma Tbk as of Sep 2017 *Net Profit is Profit Attributable to Shareholders Return on Assets and Return on Equity as of 30 Sep 2017 was calculated based on annualized Net Profit. 4
5 Company Information Business Structure & Effective Ownership Bintraco Dharma Automotive Financing PT New Ratna Motor (81%) PT Nasmoco (79.8%) PT Chandra Pratama Motor (80.9%) PT Nasmoco Pratama Motor (80.9%) PT Nasmoco Karangjati Motor (71.8%) PT Nasmoco Bahtera Motor (53.8%) PT Nasmoco Bahana Motor (48.4%) PT Meka Adipratama (46.9%) PT Meka Mekar Niaga (46.5%) PT Gema Adipradana Indah (99.9%) PT Bahtera Multi Niaga (36.7%) PT Semarang Diamond Citra (65%) PT Sumber Bahtera Mandiri (53.8%) PT Graha Bahana Mandiri (48.4%) PT Andalan Finance Indonesia (92.2%) Current Events 10 Apr 2 May 22 May 22 Jun 31 Jul 16 Aug 31 Oct Listed in IDX Q1 Results Release AGMS Cash Dividend Payment Q2 Results Release Site Visit Q3 Results Release 5
6 Section 2 Business Segments
7 Automotive Business: Product Launches Jan 2016 All New Fortuner Apr 2016 All New Sienta Nov 2016 Yaris Heykers Aug 2017 All New Voxy Nov 2015 All New Kijang Innova Apr 2016 New Rush Sportivo Ultimo Source : PT Toyota-Astra Motor release and Company Information Aug 2016 All New Calya Apr 2017 New Agya 7
8 Automotive Market Central Java & Yogyakarta Sales Volume Growth (in thousands unit) 27, % 6.9% 5.3% 5.0% 52.6% 20,391 19, % 2.9% 5.4% 7.4% 3.4% 4.6% 5.9% 4.8% 52.5% 55.8% 27.5% 31.7% 23.1% M16 9M17 Market Share per Segments Toyota Share M16 9M17 LCGC 37% 34% 40% Low & Med MPV 55% 55% 54% Med SUV 19% 19% 20% Low & Med Hatchback 25% 26% 19% Sedan + High SUV & Luxury Car 35% 34% 32% Commercial 4% 4% 3% Total 32% 32% 32% Market Share by Brands Competition M16 9M17 Toyota 31.9% 31.6% 32.3% Honda 18.9% 18.9% 21.7% Daihatsu 18.2% 17.8% 18.2% Mitsubishi 11.9% 12.0% 10.9% Suzuki 9.9% 10.0% 9.7% Others 9.2% 9.8% 7.2% LCGC Med SUV Sedan + High SUV & Luxury Car Low & Med MPV Low & Med Hatchback Commercial YTD Sep 2017 market Growth in Central Java & Yogyakarta excluding Jepara & Kudus was 8% from YTD Sep Toyota sales growth outperformed market growth so that market share increased thanks to LCGC volume. Source : Company Information 8
9 9 Automotive Business: Performance Highlights Revenue 5, % 4, % 4, % in billions Rp M16 9M17 (unless otherwise stated) Audited Unaudited Unaudited %YoY Sales Volume (thou. units) % Net Revenue 5,871 4,284 4,464 4% Gross Profit % %Gross Profit Margin 14.1% 14.5% 12.2% Net Profit* % %Net Profit Margin 2.5% 3.4% 3.0% 84.3% 84.3% 83.0% Revenue up to Sep 2017 grew moderately driven by vehicle sales volume growth. The main growth driver was Calya, that is an LCGC product launched in Aug M16 9M17 Motor Vehicle Parts & Others Total Profit up to Sep 2017 was down largely due to: (1) higher interest expenses to Bintraco Dharma group for working capital support; (2) more discount in 2017 for new products launched in late 2015 and 2016 (e.g. Innova, Fortuner, Calya). Source : Company Information *Net Profit is Profit Attributable to Shareholders
10 10 Financing Business: Performance Highlights Revenue in billions Rp M16 9M17 (unless otherwise stated) Audited Unaudited Unaudited %YoY Financed Units* (thou. units) % Net Revenue % Expenses % %Cost-to-Income Ratio 88.5% 87.5% 86.4% Net Profit % %Net Profit Margin 8.6% 9.6% 10.2% Non-Performing Financing 1.8% 1.7% 2.0% Revenue in 9M17 grew due to volume growth, which backed by increased interest rate charged to customers since mid Bottom line up to Sep 2017 grew higher than revenue due to down trend in borrowing cost and improved cost-to-income ratio M16 9M17 Source : Company Information *Financed units is based on the outstanding financed units
11 Section 3 Financial Summary
12 Bintraco s Profitability Profitability Contribution as of Sep 2017 (a) Revenue 15.1% Rp5,261 bn 84.9% Gross Profit Net Profit* in billions Rp M16 9M17 (unless otherwise stated) Audited Unaudited Unaudited %YoY Net Revenue 6,790 4,981 5,261 6% Gross Profit 1, % %Gross Profit Margin 16.6% 17.2% 16.1% Net Profit* % %Net Profit Margin 2.4% 3.1% 3.1% Bintraco results contribution from Financing segment up to Sep 2017 increased from 2016 due to high growth in Financing segment volume, higher interest revenue and lower cost-to-income ratio. 35.5% Rp846 bn 64.5% 37.9% Rp161 bn 62.1% Contribution from Automotive segment up to Sep 2017 dropped from 2016 due to: (1) more Calya sales with lower price; and (2) moderate volume growth. Automotive Financing Higher Profit contribution from Financing segment and Investment from Associates from 2016 to 2017 helped Bintraco s bottom line to grow. Source : Consolidated Financial Statements PT Bintraco Dharma Tbk (a) Amount is based on Consolidated Financial Statement PT Bintraco Dharma Tbk; % Contribution is calculated as % of sum of business segments before elimination 12
13 Bintraco s Financial Position 31 Dec Sep 2017 Audited Unaudited %Change Current Assets 5,278 7, % Non-Current Assets 1,172 1, % TOTAL ASSETS 6,451 8, % Current Liabilities 2,607 3, % Non-Current Liabilities 2,433 3, % TOTAL LIABILITIES 5,040 6, % TOTAL EQUITY 1,410 1, % Financial Position Contribution as of Sep 2017 (a) Rp8,423bn Rp6,620bn 66.3% Current Ratio Liabilities-to-Equity Return on Equity 11.7% 11.9% Return on Assets 2.6% 2.5% 73.5% Rp1,803bn Outstanding financed units growth and cars stock contributed to higher Total Assets as of 30 Sep 2017 compared to 31 Dec The assets growth was financed by several new bank loans to support financed unit growth and IPO proceeds which distributed as a working capital support to Automotive segment. 33.7% 38.2% 26.5% 61.8% Total Asset Total Liabilities Total Equity Source : Consolidated Financial Statements PT Bintraco Dharma Tbk (a) Amount is based on Consolidated Financial Statement PT Bintraco Dharma Tbk; % Contribution is calculated as % of sum of business segments before elimination (b) Return on Assets and Return on Equity as of 30 Sep 2017 was calculated based on annualized Net Profit. Automotive Financing 13
14 14 Thank you Questions & Answers
15 15 For further information please contact: PT Industri dan Perdagangan Bintraco Dharma Tbk Corporate Investor Relations investor.relation@bintracodharma.com Company website :
PT INDUSTRI DAN PERDAGANGAN BINTRACO DHARMA Tbk 1H 2017 Results
PT INDUSTRI DAN PERDAGANGAN BINTRACO DHARMA Tbk 1H 2017 Results 2 Disclaimer This presentation has been prepared by PT Industri dan Perdagangan Bintraco Dharma Tbk, abbreviated as Bintraco or Bintraco
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