PT United Tractors Tbk YTD Sep 17 Performance Update AnalystGathering

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Eugenia Underwood
6 years ago
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1 PT United Tractors Tbk YTD Sep 17 Performance Update AnalystGathering 2 November 2017 Construction Machinery Mining Contracting Mining Concession Construction Industry Energy

2 United Tractorsin Brief Establish in: 13 October 1972 No. of employee (as of Sept 2017) 28,702 people Go Public: 19 September 1989 Network: Construction Machinery 20 branches, 22 sitesupport, 10 rep. offices, and 14 mineoffices Main Business: Mining Contracting Shareholder Composition 59.5% Public 40.5% 3,730,135,136 share as Of 30 Sept 2017 Market cap. (as of Sept 2017) Rp trillion Mining Concession Construction Industry Energy

3 Heavy Equipment Market (in unit) 17,360-17% 14,421-29% -14% 10,252 8,867-33% +16% +59% 5,912 6,844 7,622 4, M 16 9M 17 Forestry Construction Agribusiness Mining Note: As of September 2017, HE market was up 59% y-o-y ` Bulldozer Wheel Loader Dump Truck Hydraulic Excavator Motor Grader Articulated Dump Truck

4 KOMATSU Sales (in unit) Construction Machinery 8,467 6% 10% 17% 67% -27% 6,202 6% 16% 24% 54% -32% 4,203 8% 23% 26% 43% -16% 3,513 14% 28% 23% 35% -40% +3% 2,124 2,181 1,588 21% 14% 36% 46% 16% 14% 10% 49% 29% 30% 9% 26% +73% 2,744 12% 22% 16% M 16 9M 17 Note: As of September 2017, Komatsu sales volume up 73% to 2,744 units, with 36% market share. 50% Forestry Construction Agribusiness Mining

5 Construction Machinery UD TRUCKS, SCANIA Truck & Bus Sales (in unit) +278% +82% % -32% % % % % % M M 2017 UD TRUCKS SCANIA Truck SCANIA Bus

6 Spare Parts & Service Revenue (after elimination in billion Rp) Construction Machinery % % % +2% % % M 16 9M 17 Parts & Service Revenue

7 Pamapersada Nusantara Mining Contracting ,2 9,1 8,0 796,4 855,5 844,9 7,1 7,0 7,1 6,4 6,7 +12% 806,4 766,6 701,5 523,9 585,0 +5% 86,8 94,4 105,1 113,5 109,0 109,2 78,6 82, M 16 9M 17 Coal Production (in milion tons) Overburden Removal (in million bcm) Strip Ratio 10,0 8,0 6,0 4,0 2,0 0,0 Coal by Customer Adaro Indominco KPC Kideco Jembayan Trubaindo Bukit Asam Others Total OB by Customer Adaro Indominco KPC Kideco Jembayan Trubaindo Bukit Asam Others Total

Mining Concession As of September 2017, TuahTuranggaAgung(TTA )recorded total coal sales volume of 5.1 million tons or down 12%. -12% 4.489 5.627 4.176 5.672 4.604 6.808 5.746 5.

8 Mining Concession As of September 2017, TuahTuranggaAgung(TTA )recorded total coal sales volume of 5.1 million tons or down 12%. -12% M 16 9M 17 TTA's Coal Sales Volume (in thousand tons) Gold mine concession PT Sumbawa Jutaraya (SJR) which was acquired in 2015, is currently still in infrastructure development phase and further exploration. SJR is expected to start production in early 2019.

9 CONSTRUCTION INDUSTRY Until September 2017, PT Acset Indonusa Tbk (ACSET) recorded net revenue of Rp1.9 trillion from Rp1.2 trillion, with net profit increased by 179% to Rp111 billion, and obtained new contracts worth of Rp7.2 trillion compared to Rp2.5 trillion in the same period ACSET holds new contracts in 2017 for: Jakarta-Cikampek II elevated toll road Bakauheni-Sidomulyo toll road JORR II Kunciran-Serpong toll road New Contracts (in billion Rupiah) 7,153 3,088 3, % 2, M M 2017

ENERGY PLTU PAMA-1 LOCATION CAPACITY INVESTMENT OWNERSHIP START PROGRESS BARUNANG, KALIMANTAN TENGAH 2 x 15 MW US$ 60 million 100% / PT ENERGIA PRIMA NUSANTARA

Scheduled to start operation in early 2018 for 1 st unit and 2 nd unit in 2019 Photo: PLTU PAMA-1, July 2017 PLTU Jawa-4 (TanjungJati5 & 6) LOCATION CAPACITY

10 ENERGY PLTU PAMA-1 LOCATION CAPACITY INVESTMENT OWNERSHIP START PROGRESS BARUNANG, KALIMANTAN TENGAH 2 x 15 MW US$ 60 million 100% / PT ENERGIA PRIMA NUSANTARA January 2015 Civil : 96% ; Electrical, Mechanical & IC: 81%. Scheduled to start operation in early 2018 for 1 st unit and 2 nd unit in 2019 Photo: PLTU PAMA-1, July 2017 PLTU Jawa-4 (TanjungJati5 & 6) LOCATION CAPACITY INVESTMENT OWNERSHIP START PROGRESS JEPARA, JAWA TENGAH 2 x 1,000MW US$ 4.2 billion 25% / PT UNITRA PERSADA ENERGIA April 2017 Overall progress 8% in line with plan; Scheduled to start commercial operation in 2021 Photo: PLTU Jawa-4 (Tanjung Jati 5&6), August 2017

11 Financial Highlights (in billion Rupiah) Expressed in billion Rupiah Year M2016 9M2017 Exchange rate (Rp/US$) Net Revenue Gross Profit Gross Profit Margin 18,8% 18,7% 22,7% 23,7% 21,2% 19,4% 22,6% Net Income* Earning per Share (in full Rp) Cash Total Assets Total Liabilities Net Debt/Equity (gearing) ratio 3.8% net surplus net surplus net surplus net surplus net surplus net surplus (*): Profit after tax attributable to owners of the parent.

Consolidated Revenue (in billion Rupiah) 55,954 5.802 27.994 51,012 53,142 3.814 4.666 31.

226 +36% 46,258 1.949 5.646 21.223 17.731 22.158 15.644 14.983 13.629 14.618 10.649 17.

12 Consolidated Revenue (in billion Rupiah) 55, ,012 53, , , , % 46, M2016 9M2017 Construction Machinery Mining Contracting Mining Construction Industry

Events Highlight in2017 23 March 2017, the Company through its subsidiary Tuah Turangga Agung has completed the acquisition of 80.

13 Events Highlight in March 2017, the Company through its subsidiary Tuah Turangga Agung has completed the acquisition of 80.1% ownership in PT Suprabari Mapanindo Mineral (SMM), a coking coal concession in Central Kalimantan. SMM is expected to start productionbytheendof March 2017, 25%-owned PT Bhumi Jati Power (BJP) has completed its project financing agreement with lenders (financial close). BJP will develop and operate 2x1,000 MW thermal power plant in Jepara, Central Java and scheduled to start commercial operation in April 2017, launch of Komatsu Excavator PC195LC- 8 (19.5 ton class for construction sector). This new unit is expected to contribute around 6% to total Komatsu sales volume in September 2017, launch of Scania Heavy Tipper: Scania P360CB-6X4 (30 ton class) and Scania P410CB- 8X4 (40 ton class). This new model is expected to sell around 200 units in 2018.

Thank You Disclaimer: This report has been prepared by PT United Tractors Tbk independently and is circulated for the purpose of general information only.

No warranty (expressed or implied) is made to the accuracy or completeness of the information.

14 Thank You Disclaimer: This report has been prepared by PT United Tractors Tbk independently and is circulated for the purpose of general information only. It is not intended to specific person who may receive this report. The information in this report has been obtained from sources which we deem reliable. No warranty (expressed or implied) is made to the accuracy or completeness of the information. All opinions and estimations included in this report constitute our judgment as of this date and are subject to change without prior notice. We disclaim any responsibility or liability without prior notice of PT United Tractors Tbk and/or their respective employees and/or agents whatsoever arising which may be brought against 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 PT United Tractors 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 report and any inaccuracy herein or omission here from which might otherwise arise.

PT United Tractors Tbk

PT United Tractors Tbk Investor Bulletin, First Quarter 2017 United Tractors Recorded Net Revenue of Rp 13.7 Trillion Operational: Y.o.y Komatsu sales volume up 70%, coal production up 2%, overburden increased