PT ASTRA INTERNATIONAL TBK. Full Year Results Presentation

Transcription

1 PT ASTRA INTERNATIONAL TBK Full Year Results Presentation

2 Disclaimer The materials in this presentation have been prepared by PT Astra International Tbk (Astra) and are general background information about Astra Group business performances current as at the date of this presentation and are subject to change without prior notice. This information is given in summary form and does not purport to be complete. Information in this presentation, including forecast financial information, should not be considered as advice or a recommendation to investors or potential investors in relation to holding, purchasing or selling securities or other financial products or instruments and does not take into account their particular investment objectives, financial situation or needs. Before acting on any information, readers should consider the appropriateness of the information having regard to these matters, any relevant offer document and in particular, readers should seek independent financial advice. This presentation may contain forward looking statements including statements regarding our intent, belief or current expectations with respect to Astra businesses and operations, market conditions, results of operation and financial condition, capital adequacy, specific provisions and risk management practices. Readers are cautioned not to place undue reliance on these forward looking statements; past performance is not a reliable indication of future performance. Astra does not undertake any obligation to publicly release the result of any revisions to these forward looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events. 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 report and neither Astra and/or its affiliated companies and/or their respective employees and/or agents accepts liability for any errors, omissions, negligent or otherwise, in this report and any inaccuracy herein or omission here from which might otherwise arise. 1

3 Highlights Net earnings per share Rp466 Auto Market Share 25% 54% 75% Return to profitability at Permata Bank Sustained higher commodity prices benefited heavy equipment and mining businesses, as well as agribusiness Group Results For the year ended 31 st December Change Net revenue (Rp bn) 206, ,084 14% Net income (Rp bn) * 18,881 15,156 25% Net earnings per share (Rp) % As at 31 st December 2017 As at 31 st December 2016 Change Shareholders funds (Rp bn) ** 123, ,951 10% Net asset value per share (Rp) ** 3,054 2,765 10% * Net income is profit attributable to owners of the parent, i.e. Astra International shareholders. ** Shareholders' funds and net asset value per share are based on equity attributable to owners of the parent. The financial results for the year ended 31st December 2017 and 2016 as well as the financial position as at 31st December 2017 and 2016 have been prepared in accordance with Indonesian Financial Accounting Standards and are audited in accordance with the auditing standards established by the Indonesian Institute of Certified Public Accountants. 2

4 Business Structure Automotive Property Automobile Toyota Daihatsu Isuzu BMW Peugeot UD Trucks Motorcycle Honda Component Astra Otoparts Others AstraWorld Menara Astra Brahmayasa Bahtera Samadista Karya Astra Land Indonesia Astra Modern Land Financial Services Heavy Equipment, Mining, Construction and Energy Agribusiness Infrastructure and Logistics Information Technology Automobile Astra Credit Companies Toyota Astra Other Finance Motorcycle Federal International Finance Heavy Equipment Surya Artha Nusantara Finance Komatsu Astra Finance Banking Permata Bank Insurance Asuransi Astra Buana Astra Life Construction Machinery United Tractors Traktor Nusantara Mining Contracting Pamapersada Nusantara Coal Mining Tuah Turangga Agung Construction Industry Acset Indonusa Energy Bhumi Jati Power Palm Oil Plantation Astra Agro Lestari Refineries Tanjung Sarana Lestari Kreasijaya Adhikarya Tanjung Bina Lestari Commodity Trading Astra-KLK Pte.Ltd Cattle in Palm Oil Plantation Agro Menara Rachmat Toll Road Marga Mandalasakti Marga Harjaya Infrastruktur Marga Trans Nusantara Trans Marga Jateng Trans Bumi Serbaraja Lintas Marga Sedaya Sea Port Pelabuhan Penajam Banua Taka Logistics Serasi Autoraya Document Solution Astra Graphia IT Solution Astra Graphia Information Technology Office Services Solution Astragraphia Xprins Indonesia 3

5 Market Position as at 31 December 2017 Astra s car market share decreased from 55% to 54%. Astra s motorcycle market share increased from 74% to 75%. Komatsu market share increased from 32% to 35%. Car Motorcycle Suzuki 1% Kawasaki 1% Toyota 35% Yamaha 23% Others 46% Heavy Equipment Isuzu 2% Source : Gaikindo Daihatsu 17% Kobelco 15% Others 17% Komatsu 35% Source : AISI Honda 75% Hitachi 15% Caterpillar 18% Source: United Tractors Internal Market Research 4

6 Corporate Actions Jan 17 Mar 17 Mar 17 Astratel Nusantara completed the acquisition of an initial 40% interest in PT Baskhara Utama Sedaya, which owns 45% of Lintas Marga Sedaya, the operator of the newly operational 116.8km Cikopo-Palimanan toll road, and subsequently conditionally agreed to acquire the remaining 60% interest. United Tractors 25%-owned Bhumi Jati Power, which will develop and operate two 1,000 MW thermal power plants in Central Java, completed its project financing agreement with lenders. This build, operate and transfer project is expected to cost approximately US$4.2 billion and is scheduled to start commercial operation in Bhumi Jati Power is a joint venture with Sumitomo Power Corporation and Kansai Electric Power. United Tractors through its subsidiary Tuah Turangga Agung, completed the acquisition of an 80.1% stake in PT Suprabari Mapanindo Mineral, a coking coal company in Central Kalimantan. 5

7 Corporate Actions May 17 Jun 17 Sep 17 Astratel Nusantara acquired the remaining 60% interest in PT Baskhara Utama Sedaya, which owns 45% of the operator of 116.8km Cikopo-Palimanan toll road. The total acquisition cost of the Group s ownership of PT Baskhara Utama Sedaya is approximately Rp5 trillion. Astratel Nusantara increased its stake in the 72.6km Semarang-Solo toll road from 25% to 40%. Permata Bank completed its Rp3.0 trillion right issue. Astra Land Indonesia entered into an agreement to increase its shareholding in Astra Modern Land from 50% to 67%. Astratel Nusantara divested its 49% stake in PAM Lyonnaise Jaya. 6

8 Financial Performance 7

9 Consolidated Income Statement After a satisfactory overall result in 2017, the Group should continue to benefit from improving economic conditions and stable commodity prices, although competition seen in the car market is expected to intensify. - Prijono Sugiarto, President Director - In Billion Rupiah Change IDR / USD, average 13,398 13,330 1% Net Revenue 206, ,084 14% Gross Profit 42,368 36,432 16% Selling, General and Administrative Expenses (22,042) (18,898) 17% Other Income 2,176 1,370 59% Share of Results of Joint Ventures and Associates 6,694 3, % Income Tax Expenses (6,031) (3,951) 53% Non-controlling Interests (4,284) (3,146) 36% Net Income 18,881 15,156 25% 8

10 Divisional Net Revenue and Net Income Divisional Net Revenue In Billion Rupiah Change Automotive 95,210 94,440 1% Financial Services 18,641 17,762 5% Heavy Equipment, Mining, Construction and Energy 64,429 45,112 43% Agribusiness 17,306 14,121 23% Infrastructure and Logistics 6,841 7,189 (5%) Information Technology 3,610 2,451 47% Property % Total 206, ,084 14% Divisional Net Income In Billion Rupiah Change Automotive 8,868 9,166 (3%) Financial Services 3, % Heavy Equipment, Mining, Construction and Energy 4,469 3,032 47% Agribusiness 1,602 1,599 0% Infrastructure and Logistics (231) 263 (188%) Information Technology % Property % Total 18,881 15,156 25% 9

11 Consolidated Balance Sheet The net asset value per share was Rp3,054 at 31st December 2017, 10% higher than at the end of Net cash, excluding the Group s financial services subsidiaries, was Rp2.7 trillion at the end of 2017 compared with net cash of Rp6.2 trillion at 31st December The decrease was due mainly to new investments in toll roads, property and power plants. Correspondingly, at the Group s parent company, Astra International, net debt rose to Rp9.2 trillion compared with net debt of Rp7.1 trillion at the end of The Group s financial services subsidiaries had net debt of Rp46.1 trillion at the end of 2017, compared with Rp47.7 trillion at the end of In Billion Rupiah 31-Dec Dec-16 Change Cash and Cash Equivalents 31,574 29,357 8% Trade Receivables 25,420 19,426 31% Inventories 19,504 17,771 10% Financing Receivables 63,252 64,639 (2%) Investment in Joint Ventures and Associates 39,260 33,987 16% Fixed Assets 48,402 43,237 12% Other Assets 68,234 53,438 28% Total Assets 295, ,855 13% Short-term Borrowings 16,321 18,764 (13%) Trade Payables 29,468 22,489 31% Long-term Debt 58,657 52,146 12% Other Liabilities 34,871 28,550 22% Total Liabilities 139, ,949 14% Equity Attributable to the Owners of The Parent 123, ,951 10% Non controlling Interest 32,684 27,955 17% Total Equity 156, ,906 12% Net Debt (Cash) 43,404 41,553 4% Net Cash (Excl. Financial Services) (2,654) (6,193) (57%) 10

12 Consolidated Cash Flow As at 31 December 2017, Astra s ending consolidated cash balance (incl. bank overdraft) was Rp31.6 trillion. In Billion Rupiah Change Cash generated from operations 26,990 22,734 4,256 Tax Payments (5,404) (4,706) (698) Interest Received 1,699 1, Net Cash flow provided from Operating Activities 23,285 19,407 3,878 Dividend Received 7,033 3,820 3,213 Net Capex (11,816) (8,368) (3,448) Net Investment (9,356) (6,263) (3,093) Other Investing (802) 13 (815) Net Cash flow used in Investing Activities (14,941) (10,798) (4,143) Net Proceeds of Debt 3,372 2, Finance Costs Paid (1,829) (2,042) 213 Dividend Payments (8,587) (8,140) (447) Other Financing 860 1,609 (749) Net Cash flow used in Financing Activities (6,184) (5,888) (296) Increase in Cash 2,160 2,721 (561) Opening Cash Balance (incl. Bank Overdraft) 29,356 27,072 2,284 Exchange Rate Adjustment 58 (437) 495 Closing Cash Balance (incl. Bank Overdraft) 31,574 29,356 2,218 11

13 Business Updates 12

14 Domestic Wholesale Car Market In 2017, car sales slightly increased, driven by the new product introductions in the Low MPV segment and increased commercial vehicle sales. In thousand units Astra Others Lehman Crisis ( 20%) LTV Policy ( 25%) 1, ,230 1, Weak GDP of 4.79% ( 16%) 1, Improved GDP of 5.07% ( 2%) 1,063 1, Segment Sedan 6% 5% 4% 3% 3% 3% 2% 2% 1% 1% 4x2 & 4x4 64% 69% 67% 64% 67% 65% 57% 54% 58% 55% Commercial 30% 26% 29% 33% 30% 28% 27% 28% 19% 22% LCGC 0% 0% 0% 0% 0% 4% 14% 16% 22% 22% Source: Gaikindo 13

15 Automotive Wholesale Car Market Astra s The wholesale car salesmarket were 10% for cars higher wasatlittle 421,000 changed units, atresulting 1.1 million in an units. increase Astra sincar market salesshare were from 2% lower 50% at to579,000 54%. units, with its market share decreasing from 55% to 54% 2% ,079,886 1,062,688 Others 500,772/ 46.4% LCGC 234,554 / 21.7% Commercial 238,163 / 22.1% Other Brands 500,772 / 46.4% Others 473,634/ 44.6% LCGC 235,171/ 22.1% Commercial, 204,249/ 19.2% Other Brands 473,634/ 44.6% Isuzu, 20,085 / 1.9% Isuzu, 16,724/ 1.6% Daihatsu 186,381 / 17.3% Daihatsu 189,683/ 17.8% Astra 579,114 / 53.6% 4x2 & 4x4 596,002 / 55.4% Toyota 372,614 / 34.5% Astra 589,054/ 55.4% 4x2 & 4x4 609,667 / 57.4% Toyota 382,606/ 36.0% Sedan 9,167 / 0.8% Sedan 13,601/ 1.3% M/S 2017 Market Segment Brand M/S 2016 Source: Gaikindo Market Segment Brand 14

16 Automotive Car Product Launches In 2017, Astra launched 11 new model and 11 revamped models. Lexus RX 200t F Sport (NEW) January 2017 Astra Daihatsu Ayla April 2017 BMW 530i (NEW) August 2017 Isuzu NLR (NEW) August 2017 Toyota Rush (NEW) November 2017 Daihatsu Terios (NEW) November

17 Domestic Wholesale Motorcycle Market Wholesale market for motorcycles decreased by 1% to 5.9 million units in Scooter segment continued to dominate the market. In thousand units 6,216 3,341 Lehman Crisis ( 6%) 5,852 3,151 7,373 3,957 8,013 3,739 LTV Policy ( 12%) 7,064 2,975 7,744 7,867 3,047 2,816 Weak GDP of 4.79% ( 18%) 6,480 2,026 5,931 GDP Recovery of 5.07% ( 1%) 5,886 1,550 1,500 2,875 2,701 3,416 4,274 4,089 4,697 5,051 4,454 4,381 4, Astra Others Segment Cub 63% 52% 45% 37% 26% 19% 16% 12% 9% 8% Scooter 26% 39% 46% 52% 60% 63% 68% 75% 79% 82% Sport 11% 9% 9% 11% 14% 18% 16% 13% 12% 10% Source: AISI 16

18 Automotive Wholesale Motorcycle Market Astra Honda Motor s domestic sales were slightly higher at 4.4 million units, resulting in its market share improving from 74% to 75%. 1% ,886,103 5,931,285 Kawasaki 1.3% Suzuki 1.2% Yamaha 1,348, % Sport/Others 6.6% Sport/Others 48.6% Sport/Others 10% Kawasaki 1.6% Suzuki 1% Yamaha 1,394, % Sport/Others 8.1% Sport/Others 49.3% Sport/Others 12.2% Honda 4,385, % Scooter 3,781, % Scooter 3,781,777 78% Scooter 4,848, % Honda 4,380, % Scooter 3,661, % Scooter 3,661, % Scooter 4,688,004 79% Cub 316, % Cub 316, % Cub 446, % Cub 363, % Cub 363, % Cub 522, % Brand 2017 Honda Segment Honda Product M/S Segment Source: AISI Brand 2016 Honda Segment Honda Product M/S Segment 17

19 Automotive Motorcycle Product Launches In 2017, Astra Honda Motor launched 8 new models and 18 revamped models. Honda CMX Scoopy 500 (New) Rebel March 2017 Honda SH 150i (NEW) April 2017 Honda CBR 250 RR August 2017 Honda Revo October 2017 Honda CRF 150 (New) November 2017 Honda PCX 150 (NEW) December

20 Automotive Components Astra Otoparts, the Group s components business, reported net income up 32% to Rp551 billion, due mainly to an increase in revenues arising from higher replacement market sales and improved contributions from its joint venture and associate companies. Revenue (Rp bio) Net Income (Rp bio) Share of Results of Joint Ventures and Associates (Rp bio) 6% 32% 46% 13,550 12, FY17 FY16 FY17 FY16 FY17 FY16 19

21 Financial Services Net income from the Group s financial services division increased to Rp3.8 trillion from Rp789 billion in the prior year due to a return to profitability at Permata Bank and improved earnings contributions from Astra Sedaya Finance, Federal International Finance and Asuransi Astra Buana. Auto HE Unit Financed % ACC 178, ,188 (4) TAF 107, ,914 (4) Total ACC & TAF 286, ,102 (4) FIF (Incl.Electronics) 000 3,569 3,475 3 SANF KAF Total HE 1, Amount Financed (Rp bio) % ACC 27,275 27,475 (1) TAF 19,831 19,559 1 Auto Total ACC & TAF 47,106 47,034 0 FIF (Incl.Electronics) 34,622 32,621 6 Total Auto 81,728 79,655 3 SANF 3,004 3,056 (2) HE KAF * 2,855 1, Total HE 5,859 4, Permata Bank FY17 consolidated net income Rp748 billion (FY16: consolidated net loss Rp6.5 trillion). Loan book decreased by 7% YoY to Rp98 trillion. LDR rose from 80% to 88%; CAR rose from 15.6% to 18.1% Gross NPL ratio fell from 8.8% to 4.6%; Net NPL ratio fell from 2.2% to 1.7%. Asuransi Astra Buana Higher net income by 9% to Rp1.0 trillion. FY17 Gross Written Premium up by 4% YoY to Rp4.4 trillion. RBC: 288% ** vs regulatory minimum of 120%. * Average exchange rate USD/IDR: 13,398 (FY17) & 13,330 (FY16) **Tentative figure, waiting confirmation from OJK 20

22 Heavy Equipment Market Heavy equipment market in 2017 improved significantly due to strong recovery in coal price. In Units Others Komatsu 17,360 14,421 9,684 5,339 4,345 6,644 3,533 3,111 11,781 6,377 5,404 8,893 8,467 8,219 6,202 10,252 8,867 6,049 5,354 4,203 3,513 5,912 6,844 3,788 4,663 2,124 2,181 10,823 7,035 3, Market Share Komatsu 45% 47% 46% 49% 43% 41% 40% 36% 32% 35% Caterpillar 23% 21% 16% 18% 19% 19% 18% 22% 17% 18% Hitachi 17% 18% 19% 15% 21% 21% 20% 18% 20% 15% Others 15% 14% 19% 18% 17% 19% 22% 24% 31% 32% Source: UT s internal research 21

23 Heavy Equipment, Mining, Construction and Energy United Tractors, which is 59.5%-owned, reported net income 48% higher at Rp7.4 trillion. The increase was mainly due to significantly stronger coal prices that led to improved performances in its construction machinery and mining contracting businesses, as well as its mining operations. Revenue (Rp bio) Mining Contracting 3,030 7,181 29,637 24,711 Construction Machinery Mining 3,788 15% 64,559 Komatsu Unit Sales 1,794 5,124 24,003 14,618 Mining Contracting Construction Industry Coal Sales (incl. Trading) % 42% 45,539 Coal Production 3% 7% Coal (mn tonnes) Overburden (mn bcm) OB Removal 14% General Contractor New Contracts 124% 24% 2,181 11% 10% 50% 46% 14% 6,336 6,866 30% Mining Forestry Construction Agro Total Coal Sales (all in thousand tonnes) New Contracts Secured (Rp tn) 22

24 Agribusiness Astra Agro Lestari, which is 79.7%-owned, reported net income of Rp2.0 trillion. Despite improved revenue from higher crude palm oil prices and sales volumes, the result was little changed from 2016, which had benefited from significant foreign exchange translation gains. Excluding the impact of foreign exchange in both years, net income would have been 8% higher. 17,306 4,880 Revenue (Rp bio) CPO Yield (tonne/ha) 23% 14,122 3% Export 4,249 12,426 Local 9, CPO Production ( K tonnes) CPO & Derivatives Sales ( K tonnes) Average CPO Price (Rp/Kg) 5% 12% 6% 1,634 1,554 1,741 1,557 8,271 7, CPO Production CPO & Derivatives Sales 23

25 Infrastructure and Logistics MMS Traffic Volume ( 000 units) LMS Traffic Volume ( 000 units) TMJ Traffic Volume ( 000 units) 4% 13% 3% 49,698 47,829 16,770 14,983 12,236 11, SERA Vehicles under Contract (units) 2% 23,397 23, The 72.5km Tangerang-Merak toll road, operated by 79.3%-owned Marga Mandalasakti, saw traffic volumes increase by 4% to 50 million vehicles. The 116.8km Cikopo-Palimanan toll road, in which the Group acquired 45% interest, traffic increased by 13% to 17 million vehicles. At the 72.6km Semarang-Solo toll road, in which the Group has a 40% interest, 40.1km is now in operation and traffic rose 3% to 12 million vehicles Serasi Autoraya s net income increased by 101% to Rp201 billion, due to higher net margins in its car leasing and rental, as well as logistics businesses, despite a 2% decline in its vehicles under contract and 18% lower used car sales. 24

26 Information Technology Astra Graphia, which is 76.9%-owned, reported net income 1% higher at Rp257 billion, mainly due to increased revenues from its office services business. Astra Graphia Revenue (Rp bio) Astra Graphia Net Income (Rp bio) 3,918 44% 1% 37% 2,713 4% 38% 25% 41% % 1,134 38% 55% 37% 1, AGDS AGIT AXI 25

27 Property Net Income (Rp bio) % Net income from the Group s property division was up 101% at Rp223 billion, primarily due to higher development earnings recognised on its Anandamaya Residences project. Anandamaya Residences and Menara Astra are scheduled for completion in %-owned Astra Land Indonesia, which owns 67% of Astra Modern Land, is in the process of developing a 67-hectare site in East Jakarta. 26

28 Appendices 27

29 Car Product Launches 2017 Models Launched Launching Period Engine Capacity Prices (Rp mio) Lexus RX 200t F Sport (NEW) Jan 17 2,000cc 1,340 Toyota Kijang Innova Venturer Jan 17 2,000cc-2,400cc Toyota Corolla Altis Jan 17 2,000cc Astra Toyota Agya Apr 17 1,000cc-1,200cc Astra Daihatsu Ayla Apr 17 1,000cc-1,200cc Toyota Voxy (NEW) Aug 17 2,000cc 446 Lexus LS 500 (NEW) Aug 17 3,500cc 3,500 BMW 530i Luxury (NEW) Aug 17 2,000cc 1,149* BMW 530i M Sport (NEW) Aug 17 2,000cc 1,379* BMW 520d (NEW) Aug 17 2,000cc 1,009* Toyota Innova Aug 17 2,000cc-2,400cc Toyota Fortuner Aug 17 2,400cc-2,700cc Toyota Sienta Aug 17 1,500cc Toyota Hilux Aug 17 2,000cc-2,500cc * Off the Road price 28

30 Car Product Launches 2017 Models Launched Launching Period Engine Capacity Prices (Rp mio) Lexus NX Aug 17 2,000cc 1,005 Isuzu MU-X 4x4 (NEW) Aug 17 2,500cc 468 Isuzu MU-X Aug 17 2,500cc Isuzu NLR 55 (NEW) Aug 17 2,800cc - 100ps Isuzu NLR 71 (NEW) Aug 17 4,600cc -125ps Toyota Rush (NEW) Nov 17 1,500cc Daihatsu Terios (NEW) Nov 17 1,500cc Daihatsu Xenia Custom Nov 17 1,300cc

31 Motorcycle Product Launches 2017 Models Launched Launching Period Engine Capacity Prices (Rp mio) Honda PCX 150 Jan cc 40.1 Honda CRF 250 (NEW) Feb cc 62.9 Honda CRF 1000L Africa Twin (NEW) Feb 17 1,000cc Honda CBR 250R Repsol Feb cc Honda CB 500F Feb cc Honda CBR 500R Feb cc Honda Supra X 125 Feb cc Honda Scoopy (NEW) Mar cc 17.8 Honda CB 500X Mar cc Honda CMX 500 Rebel (NEW) Mar cc Honda SH150i (NEW) Apr cc 44.9 Honda CB650F Apr cc 235 Honda Vario 150 Apr cc 21.2 Honda Vario 125 Apr cc Honda Supra GTR Apr cc Honda CBR 150R Apr cc Honda BeAT Street Jun cc

32 Motorcycle Product Launches 2017 Models Launched Launching Period Engine Capacity Prices (Rp mio) Honda CBR1000R (NEW) Aug 17 1,000cc Honda CB150R Aug cc Honda CBR250RR Kabuki Aug cc Honda Sonic 150R Sep cc Honda BeAT POP esp Oct cc Honda Revo Oct cc Honda CRF 150 (NEW) Nov cc 31.8 Honda Vario esp Nov cc Honda PCX 150 (NEW) Dec cc

33 Motorcycle Car National Automotive Market Data Wholesale Astra Wholesale Astra Non LCGC 845,332 48% 827,517 52% LCGC 234,554 75% 235,171 69% Total 1,079,886 54% 1,062,688 55% Cub 446,781 71% 522,082 70% Scooter 4,848,540 78% 4,688,004 78% Sport 590,782 49% 721,199 49% Total 5,886,103 75% 5,931,285 74% Major Brands Toyota Avanza, Innova, Fortuner; Honda HR-V, Mobilio, BR-V, Daihatsu Xenia, Terios, Gran Max Astra Toyota Calya, Agya; Astra Daihatsu Sigra, Ayla; Honda - Brio Satya; Datsun - GO Panca; Suzuki - Karimun Wagon R Honda - Supra Series, Revo Series, Blade; Yamaha Jupiter MX King, Jupiter ZX, Vega Force; Suzuki Smash; Kawasaki - ZX130, Edge Honda - BeAT, Vario, Scoopy; Yamaha - Mio, N-Max, Fino; Suzuki Address, Nex Honda - CB 150 R Street Fire, Verza, CBR 150R, Sonic 150R; Yamaha - V-ixion R - 15, Xabre, Byson; Suzuki - Satria F 150; Kawasaki Ninja 32

34 Equity Research Contact Details No Brokerage House Analyst Name Contact Number Address 1 Bahana Sekuritas Andri Ngaserin andri@bahana.co.id 2 BCA Sekuritas Pandu Anugrah pandu.anugrah@bcasekuritas.co.id 3 CIMB Sekuritas Indonesia Erindra Krisnawan erindra.krisnawan@cimb.com 4 Ciptadana Sekuritas Asia Arief Budiman budimanarief@ciptadana.com 5 Citigroup Investment Research Ferry Wong ferry.wong@citi.com 6 CLSA Indonesia Sarina Lesmina sarina.lesmina@clsa.com 7 Credit Suisse Sekuritas Indonesia Jahanzeb Naseer jahanzeb.naseer@credit-suisse.com 8 Danareksa Sekuritas Stefanus Darmagiri stefanus.darmagiri@danareksa.com 9 DBS Vickers Maynard Priajaya Arif maynard.arif@id.dbsvickers.com 10 Deutsche Verdhana Securities Joko Sogie joko.sogie@db-gmresearch.com 11 Goldman Sachs Pramod Kumar pramod.kumar@gs.com 12 HSBC Global Research Tarun Bhatnagar tarunbhatnagar@hsbc.com.sg 13 Indo Premier Sekuritas Chandra Pasaribu chandra.pasaribu@ipc.co.id 14 J.P. Morgan Securities Indonesia Aditya Srinath aditya.s.srinath@jpmorgan.com 15 Kresna Securities Robertus Yanuar Hardy robertus.hardy@kresnasecurities.com 16 Mandiri Sekuritas Ariyanto Kurniawan ariyanto.kurniawan@mandirisek.co.id 17 Maybank Kim Eng Securities Isnaputra Iskandar isnaputra.iskandar@maybank-ke.co.id 18 BoA Merrill Lynch Swati Chopra swati.chopra@baml.com 19 Mirae Asset Sekuritas Indonesia Franky Rivan franky@miraeasset.co.id 20 NH Korindo Sekuritas Arnold Sampeliling arnold@nhsec.co.id 21 Nomura Indonesia Elvira Tjandrawinata elvira.tjandrawinata@nomura.com 22 Onix Capital Bagus Hananto bagus.hananto@ocap.co.id 23 RHB Sekuritas Indonesia Andrey Wijaya andrey.wijaya@id.oskgroup.com 24 Samuel Sekuritas Akhmad Nurcahyadi akhmad.nurcahyadi@samuel.co.id 25 Sinarmas Sekuritas Evan Lie Hadiwidjaja evan.hadiwidjaja@sinarmassekuritas.co.id 26 Sucor Sekuritas Raditya Immanzah raditya.immanzah@sucorsekuritas.com 27 Trimegah Securities Willinoy Sitorus willinoy.sitorus@trimegah.com 28 UBS Securities Indonesia Ronald Liem ronald.liem@ubs.com 29 UOB Kay Hian Securities Stevanus Juanda stevanusjuanda@uobkayhian.com 30 Valbury Asia Securities Budi Rustanto budi.rustanto@valbury.com 31 Yuanta Securities Indonesia Yusuf Ade Winoto yusuf.winoto@yuanta.co.id 33

35 For further information please contact: PT Astra International Tbk Corporate Investor Relations P: (+62 21) F: (+62 21) E: 34