PT Nusantara Infrastructure Tbk Paparan Publik Jakarta, 12 May 2015
Presentation Contents 3 Company Overview 8 Toll Road Sector 10 Water Sector 12 Port Sector 14 Renewable Energy Sector 25 Telco Towers Sector 26 Financial Performance 29 Company Achievements 2
Company Overview 3
Company Overview Strategic Business Unit (SBU) - Level Business Unit (SBU) - Level TOLL ROADS 74.99% 99.99% 99.99% 99.99% 99.99% Cap Asia invested in 2013 JEXWAY partnered in 2014 PORTS Partnered with LDC in 2012 WATER ENERGY TELECOM TOWERS 88.93% 98.53% 25.00% 39.00% 51.00% 51.00% 64.99% 45.02% 69.36% Partnered with PEP in 2014 BSD BMN JLB ISAB TBN DCC SCTK IME KIN Acquired 2006 Expanded 2008 Acquired 2006 JTSE Developed 2007 Acquired & Developed 2009 Acquired 2012 Acquired 2012 TKCM Acquired 2012 Acquired & Developed 2013 Acquired & Developed 2012 Developed 2012 99.39% 28.00% As Per 31 March 2015 Acquired 2014 Legend: BSD : PT Bintaro Serpong Damai BMN : PT Bosowa Marga Nusantara JTSE : PT Jalan Tol Seksi Empat JLB : PT Jalan Lingkar Baratsatu ISAB : PT Inti Sentosa Alam Bahtera TBN : PT Tirta Bangun Nusantara TKCM : PT Tirta Kencana Cahaya Mandiri DCC : PT Dain Celicani Cemerlang SCTK : PT Sarata Catur Tirtakelola IME : PT Inpola Meka Energi KIN : PT Komet Infra Nusantara 4
Toll Road Sector 5
MUN Shareholding Structure PT Nusantara Infrastructure Tbk. (META:IJ) 74.98% Capital Advisors Partners Asia Pte Ltd (CapAsia) 25.02% PT Margautama Nusantara JEXWAY (Japan Expressway) 4.18% 88.93% 25.00% 98.53% BSD BMN JLB JTSE 99.39% As Per 31 March 2015 Legend: BSD : PT Bintaro Serpong Damai BMN : PT Bosowa Marga Nusantara JTSE : PT Jalan Tol Seksi Empat JLB : PT Jalan Lingkar Baratsatu 6
Q1 2015 Performance Million of Vehicles 30 25 20 15 10-5 Source: Company information 23 24 1Q2014 Traffic Volume 1Q2015 Traffic volume is still showing good growth throughout the first quarter; showing a good start for year 2015. Class I vehicles are still dominating for the traffic contributions. In IDR Bn 100 90 80 70 60 50 40 30 20 10 - Q1 2015 YoY Growth Comparison 84 84 Toll Revenue 1Q2014 53 1Q2015 53 Operating Income 69 70 EBITDA MUN is still running at 83.3% margin, increased slightly from 82.1% last year; showing improved management efficiency. 7
Water Sector 8
POTUM Shareholding Structure PT Potum Mundi Infranusantara 51.00% 51.00% 49.00% 65.00% TBN DCC SCTK 28.00% As Per 31 March 2015 TKCM Legend: TBN : PT Tirta Bangun Nusantara TKCM : PT Tirta Kencana Cahaya Mandiri DCC : PT Dain Celicani Cemerlang SCTK : PT Sarata Catur Tirtakelola 9
SCTK Water Treatment Plant: East Serang Project Project Profile Sarana Catur Tirta Kelola (SCTK) Asset Status WTP Operating & Expansion process Concession 25 years (2013 2038) Capacity Customers Water Tariff 375 liter/sec or 937.500 m3 / month 140 industrial customers (incl.few households through PDAM) Rp. 8.500 / m3 Location Map Asset Photo Gallery 10
DCC Water Treatment Plant: Medan Project Project Profile Kawasan Industri Medan (KIM) Asset Status WTP Operating & Expansion process Concession 20 years (2011 2031) Customers Capacity Water Tariff PT Kawasan Industri Medan (distributes to 153 industrial customers) 120 liter/sec or 300.000 m3 / month Rp.5.800 / m3 Location Map Asset Photo Gallery 11
2014 Financial Performance Income Statement 2014 YoY (Audited) Comparison 2014 2013 Change (Δ) In IDR Million Full Year Full Year % IDR Revenue 43,913 58,654 25% (14,714) Operating Income 6,256 (1,417) 541% 7,673 Margin % 14% -2% EBITDA 7,659 (787) 1072% 8,447 Margin % 17% -1% Net Income 7,877 7,132 10% 745 Margin % 18% 12% Operating income increased by 541% YoY to 6.2 billion. Net Income increased by 10%. Company s prospect is showing a good signal with increasing EBITDA by 1,072%. 12
Q1 2015 Financial Performance Income Statement Q1 2015 YoY (Unaudited) Comparison 2015 2014 Change (Δ) In IDR Million Q1 Q1 % IDR Revenue 8,389 11,283 26% (2,894) Operating Income 3,300 (44) 7,624% 3,344 Margin % 39% -0.4% EBITDA 3,539 257 1,276% 3,282 Margin % 42% 2% Net Income 2,893 1,502 93% 1,391 Margin % 35% 13% Operating income increased by 7,624% YoY to 3.3 billion. Net Income increased by 93%. Company s prospect is showing a good signal with increasing EBITDA by 1,276%. 13
Port Sector 14
In Metric Ton ISAB Seaport Expansion Tank Storage Capacity (MT) 120,000 105,000 120,000 In 2013, Tankfarm capacity was 48,000 MT. 100,000 80,000 By 2014 the capacity has been expanded up to 105,000 MT. 60,000 40,000 48,000 48,000 A In 2015, this capacity will reach 120,000 MT 20,000 14,000-2011 2012 2013 2014 2015F Source: Company information 15
Renewable Energy Sector 16
Project Summary Project Profile PT Inpola Meka Energy (Mini Hydro Power Plant) Project Name : Energy Type / Technology : Installed Capacity : Annual Energy Output : Lau Gunung Hydro / Run off River 15 MW (2 x 7.5 MW) 87,6 gwh per year The project is expected to start its operation by mid of 2016. Location Map (North Sumatera) Availability Factor: 75% Location : River : Estimated Catchment Area : Water Debit : Concession Period : Tanah Pinem, Kabupaten Dairi, North Sumatera Lau Gunung River 559.06 km2 (30% conservation forest, 70 public plant) 10.61 m3/sec 20 Years 74 km Estimated Head : 140 m (Net) 74.5 km from Medan Capital City Source: Company information 17
Telecommunication Tower Sector 18
Company Background In January 2014, PT Nusantara Infrastructure Tbk invested IDR 138 bn in equity and Providence Equity Partners financed IDR 460 bn in a loan to PT Telekom Infranusantara, which subsequently subscribed for shares in KIN. PTTI invested IDR 500 bn as primary proceeds, while the remaining IDR 98 bn was used to acquire secondary shares in KIN. PTNI (through PTTI) is the 69.36% controlling equity shareholder in KIN. Use of primary proceeds of IDR 500 bn: Acquisition of the tower assets. Funding further growth of KIN (organic and inorganic). PT Nusantara Infrastructure Tbk. (META:IJ) 99.99% Providence Equity Partners PT Tara Telco (existing founder shareholder, individual) PT Graha Mekatama Telindo (existing founder shareholder, individual) PT Telekom Infranusantara Debt Instrument 13.70% 16.94% 69.36% As Per 31 March 2015 KIN Legend: KIN : PT Komet Infra Nusantara 19
TSEL XL ISAT Hutch Smart Flexi TSEL XL ISAT Hutch Smart Flexi Internux Revenue Breakdown Comparison FY 2014 vs. Q1 2015 Revenue Composition FY 2014 Revenue Composition Q1 2015 16.3% 9.4% 0.7% 20.5% TSEL XL ISAT 12.0% 4.0% 0.0% 30.0% TSEL XL ISAT Hutch Hutch Smart Flexi 22.0% Smart Flexi 23.8% Internux Internux 22.1% 7.1% 15.0% 17.0% Average Monthly Revenue per Tenant (IDR million) FY 2014 Average Monthly Revenue per Tenant (IDR million) Q1 2015 16.7 13.5 15.4 14.0 12.9 14.1 16.2 13.5 15.4 14.1 12.8 12.5 13.5 Source: Company information 20
In IDR Million 2014 Performance Income Statement 2014 (Audited) Breakdown 140,000 132,882 120,000 100,000 80,000 60,000 56,212 76,670 75,704 966 11,328 64,376 40,000 20,000 - Revenue Opex EBITDA D&A Operating income Financing & Others Net Profit * KIN successfully booked Revenue IDR 132.8 bn in 2014, were contributed from 7 major tenants. EBITDA and Operating Margin accounted for 57.7% and 57.0% respectively. Financing and other expenses contributed 8.5% out of the total revenue, which created net profit of IDR 64.3 bn (48.4%). The company showed a robust growth throughout the year, contributed 25.6% revenue out of total PTNI s consolidated revenue. * Net comprehensive income after minority interest 21
Tower Growth Evolution (Towers) # 700 600 500 400 300 243 125 30 A 591 23 29 3 KIN Key Strategies: Focus on quality tenants underpinned by attractive long-term contracts Strong colocation potential to enhance cash flows Strong, experienced and professional management team backed up by high quality sponsors 646 200 193 Combination between robust organic growth and potential small tower acquisitions. 100 0 Tara Komet Corona Organic B2S KIN 2014 Telematika Ida Lombok New Builds KIN Q1 2015 January 2014 July 2014 December 2014 January 2015 April 2015 Source: Company information 22
Tier-2 Operators Tier-1 Operators 2014 Tenancy Mix Operator Total Tenants (Anchor + Colo) Avg. Rental / Month (IDR m) % of Total Tenancies % of Total Revenue 197 16.7 21.5% 20.5% 174 (incl. Axis) 13.5 19% 23.8% 112 15.4 12.2% 7.1% Tier-1 operator as % of total revenue: 73.6% 192 14.0 20.9% 22.1% 126 12.9 13.7% 16.3% 47 14.1 5.1% 9.4% 3 11.3 0.3% 0.7% Tier-2 operator as % of total revenue: 26.4% Total Revenue 2014: IDR 132.8 bn Source: Company information 23
Consolidated Financial Performance 2014 & Q1 2015 24
2014 Financial Highlights Consolidated Income Statement 2014 YoY (Audited) Comparison 2014 2013 Change (Δ) In IDR Million December December % IDR Revenue 518,378 425,860 22% 92,518 Operating Income 202,417 128,474 58% 73,943 Margin % 40% 30% EBT 189,985 114,729 66% 75,256 Margin % 36% 27% EBITDA 278,280 191,015 46% 87,265 Margin % 53% 45% Net Income * 93,260 56,395 65% 36,865 Margin % 18% 13% The revenue rose 22% YoY driven by solid growth business expansion. Operating income increased by 58% YoY to 202 billion showed robust performance in operation level; more efficiency and advanced know how. Net Income increased by 65% YoY determined by continuous strong growth in diversified business lines combined with optimal capital. The company is showing good prospects with increasing EBT by 66% and EBITDA by 46%. * Net comprehensive income after minority interest 25
2014 Financial Position Consolidated Total Assets 2014 4,074,897 Total Liabilities 2014 1,709,624 Total asset increased by 58%, driven by Telco Sector investment 58% Increase in total liabilities by 107%, to further support business growth 107% 2013 2,579,581 2013 823,177 Retained Earnings Total Equity Strong net income growth caused retained earnings to rise significantly by 372%. 2014 76,024 372% 2013 (16,099) Total equity increased by 34%, achieved by increasing in net income and new capital injection through telco projects 2014 2,365,273 34% 2013 1,756,404 26
Q1 2015 Performance Consolidated Income Statement Q1 2015 YoY Comparison Financial Position Q1 2015 YoY Comparison 140,000 Revenue +25% YoY 130,665 Q1 2015 Q1 2014 In IDR Million 4,500,000 4,000,000 4,116,188 Q1 2015 Q1 2014 Asset +1% YoY 120,000 100,000 80,000 60,000 40,000 20,000 - Revenue 104,780 Operating Income +95% YoY 62,560 32,001 Operating income * Net comprehensive income after minority interest EBITDA +70% YoY 84,018 49,512 Net Profit +69% YoY 26,371 15,559 EBITDA Net Profit * Growth in all sectors reflected in solid growth business performance. 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000 500,000 - Total Asset Liabilities +0.1% YoY 1,710,730 Total Liabilities Retained Earnings +34.7% YoY 102,395 Retained Earnings Equity +1.7% YoY 2,405,458 Total Equity Higher profits contributed significantly to the Retained Earnings position. 27
Local Company with Global Partners A Proven track record of operating, building and acquiring strategic assets throughout Indonesia and working with foreign investors and partners, including Capital Advisors Partners Asia Pte Ltd ( Cap Asia ), Louis Dreyfus Commodities Holdings Limited ( LDC ), Providence Equity Partners ( PEP ), and Japan Expressway & West Nippon Expressway ( JEXWAY ). 28
Local Company with Global Partners 4 3 2015 1 2012 Strategic Partnership with Louis Dreyfus Commodities ( LDC ) 2 2013 Investment with Capital Advisors Partners Asia Pte. Ltd. ( Cap Asia ) 25% in MUN amounting IDR 681 bio via capital enlargement and divestment 2014 Co-Investment with Providence Equity Partners ( PEP ) IDR 460 bio of debt instrument from PEP to TI for KIN acquisition Cooperation with JEXWAY (Japan Expressway) and W-NEXCO (West Nippon Expressway) Entering to a mutually beneficial cooperation in MUN Operational Excellence In ISAB for a multipurpose seaport in Lampung 29
www.nusantarainfrastructure.com Thank You 30