pt surya esa perkasa tbk...head office pt. surya esa perkasa tbk. dbs bank tower 18th floor ciputra...
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STRICTLY PRIVATE & CONFIDENTIAL 1
[IDX: ESSA]
PT SURYA ESA PERKASA TBK
Public Expose 2019
JW Marriott Hotel, Jakarta
23 October 2019
22
SEP at a Glance
2
Overview of Financials
LPG Performance
Ammonia Performance
2
3
4
5
Agenda
Executive Summary1
Public Expose 2019 – PT Surya Esa Perkasa Tbk.
Executive Summary - H1 2019
3
Ammonia
➢ Total Ammonia Production: 377,185 MT
➢ Production stabilized at over 2,200 TPD
➢ Plant utilization rate above 98,3%
➢ $97 MM of export contributing to forex reserve of RI
➢ 165 birds released by Maleo conservation program
Consolidated
➢ Substantial increase in Revenue: $ 117 MM vs $ 23 MM in H1 2018; Ammonia commenced in H2 2018
➢ EBITDA: $ 40 MM vs $ 10 MM in H1 2018
➢ Company fulfilling all Environment and Social obligations
LPG
➢ Stable Plant operations: 116% of design capacity
➢ LPG Price realization: $ 470/MT in H1 2019
Public Expose 2019 – PT Surya Esa Perkasa Tbk.
Received Zero Accident Award on 22 Apr 2019
➢ Continuous operations: 306 days with zero down time
➢ Zero Accident Award for 8th consecutive year
➢ Strong Retention: 60% employees since 2007
Achieved 117% of nameplate capacity
Vision, Mission and Core Values (VMV)
4
On May 2, 2019 Vision, Mission & Core Values (VMV) were launched for the GroupEvery employee of the Group is committed to adhere to the VMV
Public Expose 2019 – PT Surya Esa Perkasa Tbk.
55
SEP at a Glance
5
Overview of Financials
LPG Performance
Ammonia Performance
2
3
4
5
Agenda
Executive Summary1
Public Expose 2019 – PT Surya Esa Perkasa Tbk.
Sponsors
Reputed Entrepreneurs from Indonesia as the sponsors of SEP Group
Vinod LaroyaGaribaldi ThohirTheodore P. Rachmat
6Public Expose 2019 – PT Surya Esa Perkasa Tbk.
Our Locations
LPG PlantJl. Raya Palembang – Indralaya Km. 17 Simpang Y Palembang Sumatera Selatan Indonesia
Ammonia PlantJl. Poros Sulawesi, Desa Uso Kec. Batui, Kabupaten Banggai Sulawesi Tengah, Indonesia
Head OfficeDBS Tower 18th FloorCiputra World 1 Jakarta Selatan Indonesia
HO
Sumatera
Kalimantan
Java
Sulawesi Papua
Luwuk
Palembang
Jakarta
LPG Plant Ammonia Plant
7Public Expose 2019 – PT Surya Esa Perkasa Tbk.
2011
2012
8
Company Milestone
SEP Establishment
Commercial production of LPG & Condensate
Acquires 60% of PT. Panca Amara Utama (PAU)
Listed on IDX (ticker: ESSA)
LPG Capacity expanded from 120 to 190 TPD
• Commercial Production of Ammonia
• Pre-emptive Rights Issue $ 36 MM
10 years of Operationswith Zero Accident
Groundbreaking of Ammonia Plant by President Bpk. Joko Widodo
2007
Non-Pre-emptive Rights Issue $ 26 MM
2017
2015
2014
2011
2012
2013
2014
2015
2017
2018
20072006
2006
Public Expose 2019 – PT Surya Esa Perkasa Tbk.
9
Board of Commissioners & Directors
9
Rahul PuriCommissioner
IB Rahmadi SupancanaIndependent
Commissioner
Theodore PermadiRachmat
Vice-President Commissioner
Hamid AwaluddinPresident &
Independent Commissioner
Commissioners
Public Expose 2019 – PT Surya Esa Perkasa Tbk.
Ida Bagus Made Putra Jandhana
Director
Garibaldi ThohirPresident Director
Chander Vinod LaroyaVice President Director
Mukesh AgrawalIndependent Director
Isenta HioeDirector
Directors
1010
SEP at a Glance
10
Overview of Financials
LPG Plant Performance
Ammonia Plant Performance
2
3
4
5
Agenda
Executive Summary1
Public Expose 2019 – PT Surya Esa Perkasa Tbk.
Financials – Profit & Loss (Consolidated)
Particulars H1 2019 H1 2018* Growth
Revenue 116.9 23.2 ↑ 403%
COGS 91.9 10.8 ↑ 751%
EBITDA 39.7 10.3 ↑ 285%
Net Profit 5.3 3.5 ↑ 51%
11
Significant increase in Revenue as Ammonia operations commenced
*Note: H1 2018 does not include PAU earnings as the commercial production started in August 2018
Public Expose 2019 – PT Surya Esa Perkasa Tbk.
(in USD Million)
Financials – Balance Sheet (Consolidated)
Particulars H1 2019 2018 Growth
Assets 931.8 924.5 ↑ 1%
Liabilities 606.6 600.8 ↑ 1%
Equity & Reserve
325.2 323.7 ↑ 1%
12
Debt reduced by $ 51 MM in H1 2019Outstanding loan: $ 529 MM vs 580 MM in Dec 2018
Public Expose 2019 – PT Surya Esa Perkasa Tbk.
(in USD Million)
Financials – Cash Flow (Consolidated)
Particulars H1 2019 H1 2018
Beginning Cash & Cash Equivalents
105.4 39.8
Net Cash from Operating Activities
53.0 6.0
Net Cash utilized inInvesting Activities
(3.0) (52.9)
Net Cash receipt fromFinancing Activities
(12.0) 93.1
Ending Cash & Cash Equivalents
143.5 86.0
13
Strong Cash Position with $ 144 MM as of H1 2019
Public Expose 2019 – PT Surya Esa Perkasa Tbk.
(in USD Million)
1414
SEP at a Glance
14
Overview of Financials
LPG Performance
Ammonia Performance
2
3
4
5
Agenda
Executive Summary1
Public Expose 2019 – PT Surya Esa Perkasa Tbk.
LPG Performance Highlights H1 2019
➢ 16% higher LPG production over design capacity
➢ Higher LPG Recovery: 96.3% vs 93.8% (design)
➢ Plant utilization rate at 99.7% of days
➢ Achieved plant operations for continuous 306 days with Zero down time
➢ Received Zero Accident Award for 8th consecutive year – Cumulative 4.6 MM man hours without lost time incident till date
➢ Received PROPER BIRU Award for 4th time in a row for Environment Management activities
➢ Organized Blood Donation Camp and various CSR activities.
15Public Expose 2019 – PT Surya Esa Perkasa Tbk.
1616
LPG Production Condensate Production
46,200
82,838
75,77071,577
76,823 75,919
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
2014 2015 2016 2017 2018 1H 2019
Pro
du
ctio
n (M
T/ye
ar)
142,459
203,197
180,511168,374
157,412170,169
0
50,000
100,000
150,000
200,000
250,000
2014 2015 2016 2017 2018 1H 2019
Pro
du
ctio
n (B
bl/
year
)
LPG Operational Performance
LPG Production: 220 TPD vs 190 TPD (design) Condensate Production: 496 BPD vs 510 BPD (design)
Public Expose 2019 – PT Surya Esa Perkasa Tbk.
LPG Plant in Palembang
17Public Expose 2019 – PT Surya Esa Perkasa Tbk.
Cumulative 4.6 MM man hours without lost time incident
Achievement & Awards
Public Expose 2019 – PT Surya Esa Perkasa Tbk.
Zero Accident Award Proper BIRU
ESDM Award KAN Accreditation
43
1 2
Buka Puasa Bersama
On May 16, 2019, the Company held Break fasting event attended by BOC and BODand local community in Palembang. Appreciation award was given to employeescompleting 5 & 10 years service. Scholarship was provided to students andappreciation to orphans from Yayasan Panti Asuhan Al-Yamin.
19Public Expose 2019 – PT Surya Esa Perkasa Tbk.
20
CSR Activities
Blood Donation Camp held on 13 Feb 2019
Scholarship for Local StudentsCommunity Development
20Public Expose 2019 – PT Surya Esa Perkasa Tbk.
VMV Summit & Leadership Workshop
21
Vision, Mission & Core Values (VMV) was launched by Management on May 2, 2019. Allemployees participated in the brainstorming sessions to devise the Company’s VMV. SituationalLeadership II Workshop was also held in April 2019 at HO and site to improve leadership skillsof employees.
Public Expose 2019 – PT Surya Esa Perkasa Tbk.
2222
SEP at a Glance
22
Overview of Financials
LPG Performance
Ammonia Performance
2
3
4
5
Agenda
Executive Summary1
Public Expose 2019 – PT Surya Esa Perkasa Tbk.
Ammonia Performance Highlights H1 2019
➢ Plant operations stabilized at over 2,200 TPD vs
nameplate capacity 1,900 TPD
➢ Ammonia Production: 377,185 MT
➢ Ammonia Export: 384,561 MT in H1 2019
➢ 100% Ammonia Production is On- spec
➢ Plant utilization rate above 98,3%
➢ Gas Daily Contract Quantity increased from 55 to
62 mmscfd from Feb 2019
➢ 165 Maleo birds (~ 5.5 % of world population)
released till date
➢ Training program for dedicated local graduates to
upgrade their skills
➢ 100% export contributing to foreign exchange reserves of RI
23Public Expose 2019 – PT Surya Esa Perkasa Tbk.
64
55
66 6763 62
40
63
79
55 54
93
0
10
20
30
40
50
60
70
80
90
100
January February March April May June
Pro
du
cti
on
(M
illi
on
MT
)
Production Export
24
Ammonia Operational Performance
Ammonia Production : 377,185 MT vs 369,655 MT (planned)Ammonia Operations: 17% above nameplate capacity
Ammonia Production & Export
Public Expose 2019 – PT Surya Esa Perkasa Tbk.
Ammonia Plant in Luwuk
25Public Expose 2019 – PT Surya Esa Perkasa Tbk.
First Greenfield Ammonia Plant in the World to use KBR’s Reforming Exchanger System & Purifier Technology
Maleo Conservation Program
26
Maleo Conservation Program:
➢ PAU’s Maleo Conservation is one of the successful program that is fast becoming a cultural icon
and tourist attraction. The government is very active in promoting PAU’s Maleo site to bring
awareness regarding Maleo’s endangered status.
➢ Total birds released till date 165 birds (5.5 % of world population)
➢ Great impact to Maleo research activities, key to understanding the species and designing
conservation approach. This program has facilitated 16 undergraduate and 1 doctorate students.
Public Expose 2019 – PT Surya Esa Perkasa Tbk.
Tourists
Maleo Bird
Maleo Bird Release 25 Feb 2019
27
On 27 May 2019, PAU held break fasting event attended by the Management, employees
and Banggai community. PAU provided support to students, orphans from Yayasan Wadah
Islamiyah and local community
Buka Puasa Bersama
Public Expose 2019 – PT Surya Esa Perkasa Tbk.
Skill Training Program
28
In collaboration with PT Eptco Dian Persada,
PAU held training program for dedicated
local graduates to upgrade skills. Graduates
from welding received MIGAS certification
which will help them for better employment.
Skill Training Program
Classroom TheoriesField TrainingSkill Training Program
No ParticularsNo. of Trainees
Enrolled Graduated
1 Pipe Fitting 44 30
2 Pipe Welding 10 8Graduation & Closing Ceremony
Public Expose 2019 – PT Surya Esa Perkasa Tbk.
Education and Medical Facilities Support
29
Support for Orphans
Yayasan Wadah
Islamiyah
PAU Community Care
Program provided support
to students and Orphans
from Yayasan Wadah
Islamiyah, Kec. Batui,
Kimtom and Nambo
Support for Kintom
Puskesmas
In Q1 2019, at the behest of
Puskesmas head, PAU
provided medical
equipment, built new well
and water tank to ensure
clean water for Kintom
Puskesmas.
Support for Orphans
Public Expose 2019 – PT Surya Esa Perkasa Tbk.
Support for Kimtom Puskemas
STRICTLY PRIVATE & CONFIDENTIAL 30
QUESTIONS AND ANSWERS
Thank You
Head Office
PT. Surya Esa Perkasa Tbk.
DBS Bank Tower 18th Floor
Ciputra World Jakarta 1
Jl. Prof. Dr. Satrio Kav.3-5
Jakarta 12940, Indonesia
Phone: +62 21 2988 5600
Fax: +62 21 2988 5601
Email: corporate.secretary@sep.co.id
31Public Expose 2019 – PT Surya Esa Perkasa Tbk.
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