6
48.6 15.3
6.8 29.3
PT Saratoga Investama Sedaya
Tbk Morninglight Investment S.a.r.l
Claris Investment Pte. Ltd. Public Others
Board of Commissioners
Strong mix of operational, strategy, MA, and governance expertise
Board of Directors
Over 100 years of combined professional experience
Rudy Halim
Group CEO
Troy Parwata
Group CFO
Agung Kusumo
Managing Director
Titien Supeno
HR Director
Andi Esfandiari
Director
Edwin Soeryadjaya
Chairman
Tossin Himawan
Commissioner
Danny Walla
Commissioner
Lee Chul Joo
Commissioner
Istama Siddharta
Independent Commissioner
Simon Halim
Independent Commissioner
Shareholding
Resource: MPMX, as of 30 Jun 2017
7
Resource: MPMX, as of 30 Jun 2017
22 MPMInsurance Offices Outlets
47 FKT Distributors for Federal Oil Federal
Mobil
30 MPMRent Offices Service Points
5 MPMAuto Dealers 87 MPMFinance Offices
Outlets 40 MPMotor Retail
Outlets 290 MPMulia Dealers
8
01 MPM: Company Highlights
02 Consolidated Financial Results: 1H17 Updates
03 Business Segment Performance
9
Revenues 1H17
Rp 7.7T
9.9 QoQ, -7.7 YoY
80 11
8 1
-10 -4
+19 +38
-7.7
777 40
106 24
46
YoY
1H16 1H17
7,708 8,349
YoY revenue growth
Distribution Retail Consumer Parts
Auto Services Financial Services
Elimination
Revenues Growth YOY, in Rp billion
Summary
Total Revenue was impacted by shorter working period during Lebaran holidays. Sales from 2W distribution was affected by slow harvest condition in East Java while consumer cautious spending affected
Consumer Parts sales. Higher revenue in Auto Services was driven by stable rental business and higher disposal value of used cars.
Financial Services continues to deliver strong performance.
Includes MPMInsurance only
10
YOY
-17 -14
+114 +51
+79 18
21 13
10 38
180 1H16
1H17 323
141
+9,950 +136
YoY NPATMI growth
8 10
41 41
10 20
30 40
50
Financial Services Auto Services
Consumer Parts Distribution Retail
Rp 323B
50.6 QoQ, 79.5 YoY
NPATMI 1H17
Distribution Retail Consumer Parts
Auto Services Financial Services Discontinued Operation
Head Office
NPATMI Growth YOY, in Rp billion
Summary
NPATMI strong growth is driven by overall improvement of operational efficiency and one-off gain of MPMFinance divestment. Higher operational efficiency contributed to the significant increase of profitability in Auto Services.
Improved asset quality and strong business growth drove the solid profitability in Financial Services.
The profitability in Distribution Retail and Consumer Parts were impacted by the lower sales.
-226 20
Minority Interest
Includes Discontinued Operation MPMFinance 7 and MPMInsurance 1
Includes MPMInsurance only
11
Summary
Gross margin, EBITDA margin and Net margin all increased compared to the same period last year. CAPEX spending continues to come down, in line with the key focus of 2017.
Strong balance sheet with healthy Net DebtEquity ratio. ROE, ROA and FCCR ratio have improved significantly.
Annualized figure
Net DebtEBITDA Net DebtEquity
ROE ROA
FCCR 1H17
1.2x 0.3x
11.0 5.8
4.3x
1H16
4.5x 1.0x
6.7 2.5
3.5x
Key Ratios PL Highlights
Net Revenues Gross Profit
NPATMI EBITDA
CAPEX 1H17
7,708 893
323 779
253
QoQ
9.9 9.6
50.6 12.6
7.0
YoY
-7.7 -4.4
79.5 28.5
-42.5
Rev
NA 11.6
4.2 10.1
3.3
In Rp Billion
Cash and Cash Equiv. Total Asset
Bank Funding Bonds
BV of Equity 1H17
1,314 9,751
324 2,679
5,097
QoQ
61.8 -34.1
-92.0 1.8
-12.5
YoY
-24.4 -35.7
-92.3 1.6
-9.0
BS Highlights
12
Annualized figure
Without MPMF Divestment Estimated
1H17 Income statement in Rp T Revenue
EBITDA NPAT
NPATMI 1H17 Balance sheet in Rp T
Assets Liabilities
Equity Net Debt
Key ratios EBITDA margin
NPAT margin ROA
ROE Net Debt to Equity
Net Debt to EBITDA
After MPMF Divestment Actual
1H17 Income statement in Rp T Revenue
EBITDA NPAT
NPATMI 7.7
0.78 0.35
0.32
1H17 Balance sheet in Rp T Assets
Liabilities Equity
Net Debt 9.8
4.7 5.1
1.7
Key ratios EBITDA margin
NPAT margin ROA
ROE Net Debt to Equity
Net Debt to EBITDA 10.1
4.5 5.8
11.0 0.3x
1.2x
MPMF Deconsolidation
Impact
8.3 0.68
0.25 0.21
15.4 9.5
5.9 6.7
8.2 3.0
3.2 8.5
1.1x 4.9x
13
Financial Highlights in Rp billion
Summary
Major OPEX items: CB, AP, TS, have decreased YoY in line with the key focus of 2017.
Provision was driven by MPMRent as a result of the introduction of prudent accounting management.
Continue monitoring Revenue per headcount as part of the key focus of 2017.
Revenue HC Total Opex
• Compensation Benefit • Advertising Promotion
• Transportation Storage • Provision
Average CoF 1H17
2.5 536
217 99
39 12
10.1
QoQ
13.0 9.4
-3.7 7.4
20.4 85.0
YoY
-4.6 -4.4
-2.0 -21.7
-12.1 56.1
Rev
- 7.0
2.8 1.3
0.5 0.2
14
AR Days AP Days
Inventory Days 1H17
18.3 22.5
17.6
YoY
2.6 -20.7
-14.7
Operational Highlights
Summary
Keep up the momentum of producing positive cash flow.
CF from Investing grow significantly due to the proceeds from MPMF divestment.
CF from Financing decreased significantly due to the effect of centralized treasury center.
Continue to monitor Cash Conversion Cycle.
1H17 Cash Flow in Rp billion
1H16
17.8 28.4
20.6
Balance as of December 31
st
Operating Activities
Investing Activities
Financing Activities
Balance as of June 30
th
Net off with the Beginning balance of Disc. Operation.
Beg. Balance of Disc. Op. Adj. Beg. Balance
CF from Operating CF from Investing
CF from Financing Ending Balance
1H17
83 1,202
243 407
538 1,314
YoY
- -
-22.6 252.2
-206.4
-24.4
1H17 1H16
1,869 314
268 176
1,739 1,202
243 407
538 1,314
15
Collaborative Economy- ACE Performance
Improving cross-selling and up-selling between operating companies, aligned with the Accelerated
Collaborative Economy initiatives.
New Growth-MPM Planet-The Power of Network Effects
Rally Point App is the window to our MPM planet.
Stretch Dollar is key to the value proposition of MPM planet. New business models and concepts to be launched in 2H17.
16
FKT was recognized by the
HR Asia Award as HR Asia Best
Companies to work for in Asia 2017
Apr’17
MPMInsurance awarded 1st for
Best General Insurance Award
for companies with Rp 150-250 billion
equity by Media Asuransi
May ’17
FKT received Superbrands 2017
award for category Automotive
Lubricants
Jun’17 Jun’17
MPMulia launched All New Honda
Scoopy in Surabaya
Jun’17
MPM is ranked 32
nd
in Most Valuable
Indonesian Brands 2017 with
a US 181 mio Brand Value A
Brand Rating from SWA Magazine
MPM Group named Top 5
Best at Investor Relations by
FinanceAsia
Jul’17 Jul’17
MPMFinance rank 2nd for Best Multifinance
Company for category Asset under 5T by
Infobank
17
01 MPM: Company Highlights
02 Consolidated Financial Results: 1H 17 Updates
03 Business Segment Performance
18
1H16 1H17
Sales Volume Unit in thousands, YoY
902 912
863 FY15
FY16 TTM
-5
Revenue
in Billions of Rupiah, YoY
+1
261 338
330 FY15
FY16 TTM
+30
Mulia
129 132
131 FY15
FY16 TTM
+2
MSO
FY15 FY16
TTM 14,459 13,961
+7
13,544
-0
-3
-2 NPAT
in Billions of Rupiah, YoY
1H17 Highlights
o Lower sales volume was driven by slow harvest, increase in
vehicle registrations and earlier Lebaran break. o
NPAT fell marginally in line with lower revenue for the period
Key Initiatives
o Launch of 6 new models and revamped 11 models during 2017.
o Increase in promotional activities to consumer, dealers and
financing companies. o
Built the third warehouse to lower rental costs and optimize distribution.
CONTINUE LEADERSHIP IN E. JAVA AND NTT
1H16 1H17
1H16 1H17
1H16 1H17
455 406
63 63
6,673 7,172
-11
-1
-7
-5
149 157
Mulia + MSO
Mulia + MSO
19
-85 -102
-96
IMPROVE SALES PRODUCTIVITY SERVICE LEVEL
Sales Volume Units, YoY
1H17 Highlights
o Intense competition in the 4W market and the decline in
market attractiveness of Nissan and Datsun brand from lack of new products contributed to the fall in sales.
o Number of dealerships is also lower as compared to last
year due to scaling down of operations.
Key Initiatives
o Focus on operational efficiency and sales productivity as
well as after-sales service quality to the customers. FY15
FY16 TTM
-43 +29
-19
260
-10
9,823
NPAT in Billions of Rupiah, YoY
Revenue
in Billions of Rupiah, YoY
FY15 FY16
TTM FY15
FY16 TTM
773 502
+20
643
-35
1H16 1H17
1H16 1H17
480
-48 -32
1H16 1H17
3,078 1,023
209
-67
-57
-22
3,680 4,755
2,700
48 -16
-16
One-off loss from sale of fixed asset.
20
1H16 1H17
-6
o Shorter working days in June impacted the sales volume.
o Gross margin remain stable though revenue was slightly lower.
o NPAT was lower due to the lower revenue and less finance
income.
Key Initiatives
o Federal Oil 2W
o
Strengthen channel development
o
Increase product quality o
Federal Mobil 4W
o
Focus on market growth outside of Jakarta and Surabaya
o
Improve B2B channels
Sales Volume Units in thousand litres, YoY
FY15 FY16
TTM
+7
260 9,823
NPAT
in Billions of Rupiah, YoY
Revenue in Billions of Rupiah, YoY
-3
FY15 FY16
TTM 1,675
1,629 1,582
-3
59,200 63,341 61,297
-7 1H17 Highlights
1H16 1H17
-6
30,002
-10
48 253
+6
32,046
845 799
272 254
TTM FY16
FY15 1H16
1H17
-12
153 135
21
+103
1 15
-
33
1H17 Highlights
MAINTAIN OPERATIONAL EXCELLENCE CASH FLOW
o Higher revenue was driven by stable rental business and higher
disposal value of used cars. o
Higher NPAT driven by OPEX efficiencies and finance cost saving.
Key Initiatives
o Continuous improvement on operational efficiency and
productivity of the fleet. o
Improve the portfolio of corporate clients, including new offerings to customers.
Fleet Size
Units, YoY
FY15 FY16
TTM
+1
260
NPAT
in Billions of Rupiah, YoY
Revenue in Billions of Rupiah, YoY
-6
FY15 FY16
TTM 1,091
1,197 1,123
-3 +10
13,935 14,137 13,327
+1,318 1H16
1H17
-6
1H16 1H17
+19
547
12 25
1H16 1H17
+ 114
14,334 13,524
TTM FY16
FY15 653
22
31 41
51 FY15
FY16 TTM
FY15 FY16
TTM 385
393 259
41 42
1H17 Highlights
Gross Premium
in Billions of Rupiah, YoY
+49
31
9,823
NPAT
in Billions of Rupiah, YoY
+2
+32 +24
204 212
1H16 1H17
20 30
1H16 1H17
+51 +4
o Gross premium grew steadily driven by increase in new
policies especially for the MV segment. o
NPAT increased in 1H17 primarily due to higher underwriting and investment income.
Key Initiatives
o Increase market penetration in MPM Group business as
well as non-affiliated businesses. o
Plans to increase network penetration via opening up new branches Pontianak and Lampung.
o Working together closely with strategic brokers both online
and offline to grow portfolio and acquire new clients.
23
1H17 Highlights
1,185 1,226
1,164
+2 +3
o Asset quality improved YoY basis as reflected by NPL level.
o New Booking growth was driven by new 4W financing through
strengthening relationship with various dealers. o
Increased NPAT was due to higher gross profit and improved asset quality.
New Booking in Billions of Rupiah, YoY
FY15 FY16
TTM
+37
9,823
NPAT
in Billions of Rupiah, YoY
Revenue
in Billions of Rupiah, YoY
+18
2,934 4,015
4,728
Key Initiatives
o Continuously monitor and manage asset quality by implementing
early warning system across network. o
Diversify and optimize source of funding to ensure competitive pricing.
1H16 1H17
+40
2,522
1H16 1H17
588
82 128
27
+198 +56
2 48
1H16 1H17
+
2,313 1,808
+8
547
TTM FY16
FY15 TTM
FY16 FY15
3.3 3.2
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