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MANAGEMENT PRESENTATION PT Adhi Karya (Persero) Tbk. Jakarta September 2015 1 MILESTONE 1960 1974 2004 PN Adhi Karya nationalized from Dutch Company Associate N.V. PN Adhi Karya changed to PT Adhi Karya (Persero) Go Public 18 March 2004 ADHI, first SOE Construction to be listed in IDX PT Adhi Karya (Persero) 2015 2014 Subsidiaries Establishment Acquire the approval for Government additional equity injection (PMN) July 2011 TRANSFORMATION OF ADHI: • Changing Vision & Mission • RJPP 2012-2016, 5 Lines of Business [CONSTRUCTION, EPC, PROPERTY, REALTY, INVESTMENT INFRASTRUCTURE] • Organization Restructure • Establishment of ADHI Learning Center • Corporate Value: • Work Smart Corporate Culture • Responsible Honesty • Modest 2013 MoU (Consortium Transportasi Massal BUMN) Grandhika Blok M Hotel 2012 Precast Factory Subsidiaries Establishment 2 LINE OF BUSINESS CONSTRUCTION Building Airport Seaport Road & Bridges Watery Works Railway EPC Power Plant Industry Oil & Gas PROPERTY & REALTY Apartment Offices Condotel HOTEL Grandhika Hotel Hotel Division PT APG PMU Power 1, Oil&Gas PT APP Construction Division 1 -7 PMU Power 2, IPP Divison Property TOD INVESTMENT Precast Concrete Transportation IPP PT APB LRT Division PMU RFCC SPC IPP 3 Operational Performance ORDER BOOK TENDER RATE 60,000 50,000 28% 21% 32,634 33,391 17% 20,000 10,000 45,841 25% 40,000 30,000 33% 47,921 46,782 35% 8,132 30% 25% 20% 15% 11,927 9,604 10,854 9,218 10% 5% 0% ‐ 2010 2011 Tender Bid (IDR) 2012 Tender Won (IDR) 2013 2014 Competitive Rate (%) 60.00% 25,000 20,000 46.15% 41.18% 15,000 35.49% 48.18% 50.00% 40.00% 37.79% 9,604 30.00% 10,854 9,218 10,000 8,132 11,927 5,000 5,648 6,940 20.00% 10,580 10,380 8,745 ‐ 10.00% 0.00% 2010 2011 2012 Carry Over New Contract 2013 2014 Sales per Order Book Ratio Realisasi s.d. Agustus 2015 SUMBER DANA JENIS PEKERJAAN Gedung 60% Jalan & Jembatan 28% Infrastruktur Lainnya 9% Total Tender yang diikuti Hit Rate Tender Sudah Kontrak Penetapan Pemenang Tender Terendah Jumlah : 38.255 M : 28.0% : 7.863 M : 1.524 M : 1.290 M : 10.678 M APBD 19% APBN 25% BUMN 13% Swasta/Lainnya 43% Dermaga 3% 4 Financial Summary Revenue Gross Profit and Gross Profit Margin In billion IDR 12.52% In billion IDR 12,000 1,800 9,799 10,000 8,653 7,628 8,000 6,000 6,695 5,675 10.97% 12.53% 12.18% 11.54% 10.12% 1,600 16.00% 1,400 14.00% 1,200 12.00% 1,000 10.00% 800 4,000 3,212 8.00% 600 400 2,000 1,193 955 710 6.00% 998 4.00% 734 200 325 ‐ ‐ 2010 2011 2012 2013 2014 2.00% 0.00% 2010 Jun‐15 2011 2012 2013 2014 Jun‐15 Net Income and Net Profit Margin EBITDA and EBITDA Margin In billion IDR 9.92% 1400 18.00% In billion IDR 8.39% 10.46% 9.50% 7.83% 5.92% 14.00% 6.00% 600 3.33% 2.72% 2.78% 4.14% 3.80% 2.19% 1200 12.00% 500 5.00% 1000 10.00% 400 4.00% 800 8.00% 300 3.00% 6.00% 600 400 200 798 563 2.00% 190 0.00% 0 2010 2011 2012 2013 2014 Jun‐15 2.00% 329 4.00% 678 562 406 200 931 100 189 182 212 1.00% 70 0.00% 0 2010 2011 2012 2013 2014 Jun‐15 5 TOTAL ASSETS, LIABILITY & EQUITY 14,000 12,000 Total Assets 10,000 Total Assets Total Assets 8,000 6,000 4,000 Total Assets 6,113 4,928 990 7,872 Total Assets 10,459 9,721 Total Assets 11,609 1,615 1,641 1,460 1,077 9,994 868 8,261 8,818 6,795 2,000 4,060 5,123 ‐ 2010 2011 2012 Total Liability 2013 2014 Jun‐15 Total Equity 6 Indicative Offering Structure – Rights Issue Key indicative terms Issuer PT Adhi Karya (Persero) Tbk. (“ADHI”) Entitlement ratio Renounceable 100,920 rights shares for every 100,000 existing share Number of rights shares to be issued 1,143,757,141 to 1,817,892,144 shares or 38.8% ‐ 50.2% of enlarged capital Rights price range IDR1,510 – IDR2,400 per share Up to IDR2.745 trn (c,US$225 m) • Republic of Indonesia portion • Public portion Rights offer size : IDR1.400 trillion : IDR1.345 trillion OJK Registered format with : • Republic of Indonesia undertaking to fully subscribe for its pro rate stake of 51.0% ownership • Joint Lead Managers to act as standby purchasers for unsubscribed rights Republic of Indonesia (51.0% of the rights shares) Joint Lead Managers & Standby Purchasers PT Bahana Securities, PT Danareksa Sekuritas, PT Mandiri Sekuritas (for the remaining 49.0% rights shares) Use of proceeds Railway based mass transportation project (LRT) including its stations and property projects Offering Format Undertaking shareholder 7 Indicative Timetable Rights Issue Pricing date 14 September 2015 ADHI’s EGMS date 22 September 2015 Cum date (Regular & Negotiation Market) 30 September 2015 Recording date 05 October 2015 Listing date 07 October 2015 Trading of rights date 13 – 16 October 2015 Allocation date 19 October 2015 Settlement of excess rights (rump) shares 26 October 2015 8 THE INNER CITY TRANSPORTATION LIGHT RAIL TRANSIT INDONESIA Tr a n s p o r t a s i M a s s a l B e r b a s i s Re l J a b o d e t a b e k 9 Landasan Hukum Peraturan Presiden Nomor 98 tanggal 2 September 2015 TENTANG : PERCEPATAN PENYELENGGARAAN KERETA API RINGAN/ LIGHT RAIL TRANSIT TERINTEGRASI DI WILAYAH JAKARTA, BOGOR, DEPOK, DAN BEKASI Pemerintah menugaskan ADHI untuk membangun PRASARANA Kereta Api Ringan/ LRT terintegrasi untuk lintas pelayanan : • Cawang – Cibubur • Cawang – Kuningan – Dukuh Atas • Cawang – Bekasi Timur • Dukuh Atas – Palmerah – Senayan • Cibubur – Bogor • Palmerah – Grogol • Lintas Pelayanan lainnya yang ditetapkan dengan Peraturan Menteri Perhubungan Scope Pekerjaan PRASARANA meliputi : • Jalur, termasuk konstruksi layang • Stasiun • Fasilitas operasi 10 Peta Lintas Pelayanan LRT KABUPATEN TANGERANG PROVINSI DKI JAKARTA KABUPATEN BEKASI KOTA TANGERANG KOTA BEKASI KOTA TANGERANG SELATAN Sta. Taman Mini Sta. Kp. Rambutan Sta. Ciracas Sta. Cibubur KOTA DEPOK Sta. Cibinong KABUPATEN BOGOR Sta. Sentul Sirkuit KOTA BOGOR Sta. Sentul City Sta. Baranangsiang 11 KAPASITAS DAN WAKTU TEMPUH LIGHT RAIL TRANSIT (LRT) CibuburCawang Panjang (km) Dukuh AtasCawangCawangPalmerahDukuh Atas Bekasi Timur Senayan CibuburBogor PalmerahBogor 13.7 10.5 17.9 5.5 30.5 5.5 12,000 24,000 12,000 24,000 24,000 24,000 Waktu Tempuh (menit) 21 18 27 12 37 12 Jumlah Stasiun 5 7 5 3 4 5 PPHPD (Passenger per Hour per Direction) 12 PT Adhi Karya (Persero) Tbk. THANK YOU Visit us at www.adhi.co.id For further information please contact: Ki Syahgolang Permata, Corporate Secretary P. +62 21 797 5312 F. +62 21 797 5311 E. adhi@adhi.co.id Disclaimer: Important Notice This document was prepared solely and exclusively for the parties presently being invited for the purpose of discussion. Neither this document nor any of its content may be reproduced, disclosed or used without the prior written consent of PT Adhi Karya (Persero) Tbk. This document may contain statements that convey future oriented expectations which represent the Company’s present views on the probable future events and financial plans. Such views are presented on the basis of current assumptions, are exposed to various risks and are subject to considerable changes at any time. Presented assumptions are presumed correct, and based on the data available on the date, which this document is assembled. The company warrants no assurance that such outlook will, in part of as a whole, eventually be materialized. Actual results may diverge significantly from those projected. The information in this document is subject to change without notice, its accuracy is not verified or guaranteed, it may be incomplete or condensed and it may not contain all material information concerning the Company. None of the Company, PT Adhi Karya (Persero) Tbk. or any person connected with any of them accepts any liability whatsoever for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection therewith. 13