Operational 1Q16
1Q17
Δ
Production Vol 1.5
1.1 26.7
Sales Vol 1.4
1.1 21.4
Stripping Ratio x 12.4
13.7 10.5
Sales 63.6
62.7 1.4
EBITDA
2
11.3 17.1
51.3
Net Profit 5.2
10.2 96.2
Financial 1Q16
1Q17 46.8
NEWC Index 81.5
62.0 50.3
ASP 57.2
22.2 mn ton
mn ton USton
USton
US mn US mn
US mn
Δ
EBITDATon 8.3
15.7
Focused on profitable production output based on mine plan through optimization of :
Infrastructure and connectivity sharing
hauling road, coal processing plants CPP, jetties among Group mines
Joint mine plan between three adjacent mines
and contractors
1
Competitive coal pricing driven by strong coal
branding from consistency in scheduled deliveryproduct quality and securing term
contracts using mostly fixed price
Diversified customer base and export market base through suitable mix between
end-users and traders, and more evenly spread stable demand markets respectively
Note: 1
As per September 2016, all three Group mines of ABN, IM, and TMU have mining contracting cooperation with Cipta Kridatama CK to improve further cost efficiency through economies of scale and better mine planning 2
EBITDA = Gross Profit – selling expenses – GA + depreciation and amortization
EBITDA Margin 17.8 27.3 USton
FOB Cash Cost US mn
34.8 36.9
6.0
10
4,1 Mt 5,2 Mt
5,6 Mt 6,5 Mt
8,1 Mt 6,1 Mt
5,5 Mt 5.0-6.0 Mt
99 121
97
85 71
59 66
65-70
20 40
60 80
100 120
140
1 2
3 4
5 6
7 8
9 10
2010 2011
2012 2013
2014 2015
2016 2017 est.
Toba Consolidated NEWC Price
30,1 32,9
5,7 13,9
13,5 15,4
15,2
Stable margin
EBITDA Margin
11
Hauling road completed in May 2013 facilitated 2014
production ramp-up
Source: Coal price from GlobalCoal
Amidst the coal price volatility over the past several years and to sustain the Company’s survival mode, Toba
has undergone cost efficiency initiatives on consistent basis as shown by stable EBITDA margin
Situation
Solution
Seize dependence on 3
rd
party facility and look to internal integration via hauling road
construction to connect ABN and utilize IM’s
CPP and Jetty Construction initiated end-2012 and targeted
for completion June 2013
Achievement
Hauling road was completed in May 2013, ahead of schedule in June 2013
Logistics cost fell translating to lower cash cost
Production ramp up became viable
2012-2013 Case Study: TMU Ramp-Up in 2014
TMU was unable to boost output due to logistical disadvantage of dependence on 3
rd
party facility and subject to high tariff
Production
Mn tons
8.1 6.5
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