pt panorama sentrawisata,...
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Company ProfilePT PANORAMA SENTRAWISATA, Tbk
INVESTMENT OVERVIEW
INDUSTRY OUTLOOK
COMPANY PROFILE
FINANCIAL HIGHLIGHTS
BUSINESS STRATEGIES
More than 43 years experiences in Tourism Industry
1
Well positioned to benefit from Indonesia’s fast growing tourism industry (offline and online distribution channel)
2
3
Indonesia’s only and largest Integrated Tourism Companywhich focuses on Tourism and Hospitality, supported by 5business
Partnership with Global Leading Companies, such as Carlson Wagonlit Travel, Chan Brothers, Reed Elsevier, Carlson Rezidor Hotel4Robust Growth with 16 % and 21 % CAGR of Sales and EBITDA, respectively, in the past ten years5
INVESTMENT OVERVIEW
INDUSTRY OUTLOOK
COMPANY PROFILE
FINANCIAL HIGHLIGHTS
BUSINESS STRATEGIES
Industry Outlook: INBOUND
• Pro-Tourism Government
• Tourism sector is projected to be the number one foreign exchange contributor by 2019
• Free VISA policy to Indonesia for 169 countries
• Tourism Authority to build 10 New “Bali” Destinations
• Big marketing and promotional budget from Ministry of Tourism USD 100 million (2015) to become USD 400 million (2016)
www.panorama-sentrawisata.com
Industry Outlook: TRAVEL & LEISURE
• Strenghtening of Rupiah to most of other currencies
• More development on Millenials (Youth market/Gen-Y)
• Implementation of Tax Amnesty, Better Economy Growth, Better Income, More Spending
• Weakening of Oil Price
www.panorama-sentrawisata.com
Industry Outlook: MEDIA
• New developments of venue Exhibitions in several region such as ICE (Indonesia Convention Exhibition), Serpong
• Cities outside Jakarta being developed as MICE destination
• Indonesia as a huge potential market for consumer goods, lifestyle, and business opportunities
• The establishment of the Special Promotion Board to handle MICE (INACEB)
• MICE Tourists spend 3 times more than Leisure Tourists
www.panorama-sentrawisata.com
Industry Outlook: HOSPITALITY
• Travelling has become a lifestyle
• More hotel rooms are needed inline with the growth of the Tourism industry (20 million Foreign Tourist and 275 million Domestic Tourist Movements in 2019)
• Better connectivities, better accessibilities and new destinations provide new opportunities
www.panorama-sentrawisata.com
INVESTMENT OVERVIEW
INDUSTRY OUTLOOK
COMPANY PROFILE
FINANCIAL HIGHLIGHTS
BUSINESS STRATEGIES
Panorama:
Focusing on Core Businesses with technology based integration
www.panorama-sentrawisata.com www.panorama-sentrawisata.com
STRUKTUR ORGANISASIORGANIZATION STRUCTUREwww.panorama-sentrawisata.com www.panorama-sentrawisata.com
Inbound
• Panorama Destination
• Asia World Indonesia
Travel & Leisure
• Panorama Tours• Panorama
Tours.com• Chan Brothers
Travel Indonesia• MG Bedbank• Rajakamar.com• TurEZ• Smart Holiday• J-Travl• Go Holidays• Travelicious.co.id• Orange
• Carlson Wagonlit Travel Indonesia
• Chan Brothers Travel
• Carlson Wagonlit Travel
Subsidiaries Associated Companies Strategic Partner Alliance
Transportation
• White Horse Group
• DayTrans• Joglosemar• Canary• Europcar
Indonesia• GrayLine Jakarta
• GrayLine• Europcar
Media
• Panorama Publication
• Panorama Magazine
• Get Lost Magazine• Panorama Events
• Reed Panorama Exhibition
• Reed Elsevier
Hospitality
• The 1O1 Yogyakarta Tugu
• Carlson RezidorHotel Group
Business Networks
Strategic Partners
www.panorama-sentrawisata.com
BEACH CRUISING CULINARY CYCLING
HONEYMOON
& WEDDINGS
TAILOR MADE
ITINERARIESFAMILY GOLF
WELLNESS
& SPADIVING &
SNORKELLINGEXPLORATION TREKKING
Inbound’s Product
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Inbound’s Fleet
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Travel & Leisures’s Outlets
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Panorama Tours outlets were focused on urban market. Most of them are located at Premium Shopping Malls or Office Building.
Panorama World and Panorama Express were designed to tap middle-class market in emerging cities. Most of them are located at Shop-Houses.
Travel & Leisures E-Commerce
www.panorama-sentrawisata.com
Media
MINING & ENGINEERING
I N D O N E S I A
www.panorama-sentrawisata.com
HospitalityThe 1O1 Yogyakarta Tugu
Start of Operation : June 2014 Acquired : Q3 2015Land Size / Building Size : 2,185 sqm / 9,273 sqmNo of Room Bays / Keys : 156 / 150Location : Yogyakarta, DIYFacility : Restaurant & Lounge Bar, Gym & Spa, Swimming Pool, Meeting Room
www.panorama-sentrawisata.com
Great Performing Brand in Social Media for Tour & Travel Category
Social Media Award2015
Superbrands Indonesia 2014-2015
Indonesia Travel & tourism Awards (ITTA) 2014-2015
Most Valued Brand 2016
The Best in Building & Managing corporate Image
Corporate Image Awards (IMAC) 2008-2015
Service Quality Awards 2016
Remark: Other awards from vendors and industry are not included. Above awards are won from respected medias, international award committees. Above awards were given during 2012 – 2016, some were won consecutively.
Panorama’s Credential
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Rekor BisnisIndonesia 2015
50 Best of The Best Company 2014 - 2016
INVESTMENT OVERVIEW
INDUSTRY OUTLOOK
COMPANY PROFILE
FINANCIAL HIGHLIGHTS
BUSINESS STRATEGIES
29 45 53 58
75
116 145
202
247
195
245
-
50
100
150
200
250
300
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 *
BIL
LIO
NS
EBITDA
890 1,191
1,647 1,525 1,782
2,064
2,584 2,642
3,446 3,756
4,752
-
1,000
2,000
3,000
4,000
5,000
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 *
BIL
LIO
NS
Sales (Gross Revenue)
10 Years Performance
www.panorama-sentrawisata.com
* 2016 Figures Annualized
Result Highlights
Description H1 2015*Un-Audited
H1 2016Un-Audited
Change % Change
Sales (Gross Revenue) (Rp Billion) 1,994 2,376 382 19.1 %
Net Revenue (Rp Billion) 1,097 1,185 87 7.9 %
Operating Income (Rp Billion) 70 89 19 27.7 %
Net Income (Rp Billion)** 22 23 1 2.7 %
Earnings per Share (Rp) (annualized) 37.52 38.53 1.01 2.7 %
• Consolidation include WEHA (based on Last Year Financial Report)** Attributable to Parent Company*** Statement of Financial Position as at 31 December 2015
• Earnings per Share on H1 2016 increase by 2.7 % compare with H1 2015• Sales (Gross Revenue) on H1 2016 reported Rp 2,376 Billion , increase by 19.1% compare with H1 2015• The biggest Sales contributed 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 theappreciation of Rupiah
• The newly acquired Inbound company helped increase Sales (Gross Revenue)
2015***Audited
H1 2016Un-Audited
Change % Change
Shareholders’ funds (Rp Billion) 190 364 174 91.6 %
Book Value per Share (Rp) 158.25 303.13 144.88 91.6 %
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Consolidated Balance Sheet
Description(In Rp Billion )
2015Audited
H1 2016Un-Audited
Change % Change
Cash and Cash equivalent 101 142 41 39.7 %
Restricted Time Deposit 21 21 0 1.9 %
Trade Account Receivables 303 335 32 10.5 %
Property and Equipment-net 811 978 167 20.6 %
Other Assets 510 695 185 36.5 %
Total Assets 1,746 2,171 425 24.4 %
Short-term Debt 222 231 9 4.0 %
Trade Account Payables 230 296 66 28.5 %
Due from Related Parties 37 7 (30) (81.2) %
Long-term Debt 613 756 143 23.4 %
Other Liabilities 231 261 30 13.3 %
Total Liabilities 1,333 1,551 218 16.4 %
Equity attributable to Parents Company 190 364 174 91.6 %
Non-controlling Interest 223 256 33 14.9 %
Total Equity 413 620 207 50.1 %
Net Debt 713 824 111 15.6 %
• There are signifcant changes of Assets and Equity due to Assets Revaluation on Q2 2016• The increase of Debt used to finance working capital• Panorama’s Net Asset value per shares amounted to Rp 303.13 in H1 2016, 91.6% higher compare to the end of
2015.
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Q on Q Performance Result
351.41 406.66 458.79
666.78 690.69 725.73
462.53 456.81
475.32 368.98
2014 2015 2016
Net Revenue
Q1 Q2 Q3 Q4
75.98 89.77 113.29 119.34 118.81
148.66 86.45 85.99
106.83 104.98
2014 2015 2016
Gross Profit
Q1 Q2 Q3 Q4
7.50 8.26 12.18
14.00 14.25 10.93
15.60 10.95
9.01 15.55
2014 2015 2016
Net Profit
Q1 Q2 Q3 Q4
Q12014
Q22014
Q32014
Q42014
Q12015
Q22015
Q32015
Q42015
Q12016
Q22016
Gross Profit Margin 22% 18% 19% 22% 22% 17% 19% 28% 25% 20%
Operating Profit Margin 6.5% 6.7% 5.2% 6.2% 6.0% 6.6% 6.2% 2.7% 8.3% 7.1%
Net Profit Margin 2.3% 2.5% 3.8% 3.7% 2.1% 3.1% 2.9% 2.0% 2.9% 2.4%
0%
5%
10%
15%
20%
25%
30%
Profitability Margin
1,956 1,923
2,50030%
389 400
62155%
46 49
7247%
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Gross Revenue based on Pillars H1
Gross Revenue(In Million Rupiah)
H1 2015Un-Audited
H1 2016Un-Audited
% Change
Inbound 147,680 194,198 31.5 %
Travel & Leisure 1,756,838 2,159,700 22.9 %
Media 3,658 5,865 60.3 %
Hospitality & Others 4,363 16,226 271.9 %
Transportation 81,699 - N/A
Sales (Gross Revenue) 1,994,238 2,375,989 19.1 %
8%
88%
0%0% 4%
H1 20158%
91%
0% 1%H1 2016
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14%
78%
0%0% 8%
H1 2015
Net Revenue based on Pillars H1
Net Revenue(In Million Rupiah)
H1 2015Un-Audited
H1 2016Un-Audited
% Change
Inbound 147,680 194,198 31.5 %
Travel & Leisure 859,953 968,233 12.6 %
Media 3,658 5,865 60.3 %
Hospitality & Others 4,363 16,226 271.9 %
Transportation 81,699 - N/A
Total Net Revenue 1,097,353 1,184,522 7.9 %
16%
82%
1% 1% 0%
H1 2016
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Inbound• Inbound Pillar, Growth of Sales (Gross Revenue) catalyst such as 169 countries free visa granted policy and
massive marketing for tourism by Government. The newly acquired an Inbound company contributed more than30% to the Sales (Gross Revenue).
JAN-JUN 2015 JAN-JUN 2016 Increment
Sales (in Million) Rp 147,680 Rp 194,198 31.5%
Pax handled 52,933 77,350 46.1%
Increment of incoming foreign tourist in Indonesia Jan-Jun 2016 compare to Jan-Jun 2015 *
5.9%
10%5%
61%
3%2%
19%
PDES HANDLED PAX JAN-JUN 2016
10%
6%
64%
1%
1%18%
PDES HANDLED PAX JAN-JUN2015
• Asia Pacific• Asean• Europe• America• Middle East/Africa• Others
Note : * source data from BPS and processed by the Company
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75.2% 73.2%
24.8% 26.8%
H1 2015 H1 2016
Breakdown Sales based on Distribution Channel
Offline Online
21.8% 24.2%
78.2% 75.8%
H1 2015 H1 2016
Breakdown Sales based on Market
Retail Corporate
Travel Leisure• Travel & Leisure Pillar, Growth Sales (Gross Revenue) catalyst such as higher purchasing power from customers,
weakening of oil prices, and the use of technology both for marketing and distribution channel.
JAN-JUN 2015 JAN-JUN2016 Increment
Sales (in Million) Rp 1,756,838 Rp 2,159,700 22.9 %
Airline Tickets (Component) (in pax) 194,812 259,630 33.3 %
Increment of domestic and international passenger in Indonesia * 14.7 %
Hotel Vouchers (Component) (in room nights) 440,322 616,303 40.0 %
Increment of total hotel room nights in Indonesia * 14.6 %
Specialist (Tour Packages) (in pax) 44,246 47,977 8.4 %
Note : * source data from BPS and processed by the Company
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Media52%
Event48%
JAN-JUN 2015
18
8
20
10
2015 2016*
Event Handled
Jan-Jun Jul-Dec
Media
• Pilar Media, booked Sales (Gross Revenue) ofRp 5.9 Billion for Jan-Jun 2016, experiencingsignificant increase by 60.3% compare to Jan-Jun2015 recorded at Rp 3.7 Billion.
• Total Sales from Event projected to Rp 14.4Billion in 2016, increase by 65.5% compare to2015
* Jul-Dec 2016 based on projection
Media44%
Event56%
JAN-JUN 2016
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20 30 40 50 60 70 80 90
1O1 YOGYAKARTA
DI YOGYAKARTA
INDONESIA
3 STAR HOTEL
4 STAR HOTEL
Occupancy Rate 2016
Jan Feb Mar Apr Mei Jun
20 30 40 50 60 70 80 90
1O1 YOGYAKARTA
DI YOGYAKARTA
INDONESIA
3 STAR HOTEL
4 STAR HOTEL
Occupancy Rate 2015
Jan Feb Mar Apr Mei Jun
Hospitality & Others
• Hospitality & Others Pillar, booked Salesincrement of 17.8% become Rp 11.95 Billion onJan-Jun 2016 compare to Jan-Jun 2015amounted Rp 10.14 Billion
• Average Occupancy Rate in the first half of 2016around 72% compare to the first half of 2015which around 69%
Source: BPS and processed by the Company
54.41 64.93
54.09
71.31
89.59
77.13
63.51 71.01
75.51 83.73 84.02
54.31
Jan Feb Mar Apr Mei Jun
Occupancy Rate THE 1O1 Yogyakarta Tugu
2015 2016
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INVESTMENT OVERVIEW
INDUSTRY OUTLOOK
COMPANY PROFILE
FINANCIAL HIGHLIGHTS
BUSINESS STRATEGIES
To expand the operation networks and market accessto tap the growing demands in the Indonesia domesticsource market.
1
To strengthen and widen the MICE businessesby launching and acquiring new exhibitions.
2
3
Panorama’s Grand Strategies for 2016 - 2017
To strengthen capital structure through Asset Revaluation,to explore cooperation with strategic partners, and toexplore an opportunity for a Right-Issue plan in H1 2017with fund target of Rp 300 – 500 Billion
To synergize all business pillars through Information &Technology.
4
5
Panorama’s Grand Strategies for 2016 - 2017
To expand the hospitality sector in various touristdestinations as well as emerging cities aroundIndonesia.6
To improve and upgrade the quality andprofessionalism of the human resources to meet theinternational standard in the tourism industry.
For further information please contact:PT . Panorama Sentrawisata Tbk
Corporate SecretaryPanorama Building 6th floor,Jl. Tomang Raya no. 63Jakarta Barat 11440T : +62 21 25565000F : +62 21 25565055E: [email protected]
[email protected] : www.panorama-sentrawisata.com