Region Populat ion
Cement Consump-
t ion t on Cement
Consumpt . Per Capit a
kg
1. JAVA 136, 563, 142
21, 996, 688 161
2. SUMATERA 50, 613, 947
9, 690, 931 191
3. SULAWESI MALUKU
19, 926, 385 3, 421, 522
172 4. KALIMANTAN
13, 772, 543 2, 833, 018
206 5. BALI NUSA
TENGGARA 13, 067, 599
2, 326, 931 178
6. PAPUA 3, 612, 854
513, 287 142
Tot al Indonesia 237, 556, 470
40, 782, 377 172
MARKET BY GEOGRAPHY CEMENT CONSUMPTION PER CAPITA FY2011
Papua Bali N T
Kalimantan
Sulawesi
Populat ion Dist ribut ion 2010 Populat ion Dist ribut ion 2010
Sumatera 21.3
Java 57.5.
8.4 5.8
5.5 1.5
7
REGION
MARKET SHARE SMGR
INTP SMCB
BSWA ANDLS BTRJA
1. JAVA 36. 2
40. 7 20. 8
2. 0 -
0. 01 2. SUMATERA
43. 1 15. 5
11. 7 3. 0
16. 0 11. 0
3. SULAWESI 60. 1
13. 6 1. 1
25. 0 -
- 4. KALIMANTAN
47. 6 28. 9
14. 1 9. 0
- -
5. NUSA TENGGR. 37. 2
36. 9 4. 5
19. 6 -
- 6. EASTERN IND.
62. 2 17. 3
0. 5 20. 3
- -
TOTAL INDONESIA
40. 8 31. 5
15. 6 5. 8
3. 6 2. 6
SG SP
ST
1 2
3 4
5 6
23.0
7.3 7.0
5.8 1.6
Java
55.2
Sumatera
Cement Dist ribut ion 2011 Cement Dist ribut ion 2011
Domest ic Market Share FY2011
8
DOMESTIC DEMAND VS NATIONAL CAPACITY
40.800 48.000
51.400 54.400
57.700 61.200
64.900
39.100
1 0 .0 0 0 2 0 .0 0 0
3 0 .0 0 0 4 0 .0 0 0
5 0 .0 0 0 6 0 .0 0 0
2 0 0 9 2 0 1 0
2 0 1 1 2 0 1 2
2 0 1 3 2 0 1 4
2 0 1 5 2 0 1 6
TAHUN T
O N
S
INSTALLED CAPACITY REAL PRODUCTION
CEMENT CONSUMPTION
2.5 7.0
6.0 17.7
Real Proj ect ed
Growt h
6.0 6.0
6.0 6.0
Domest ic Consumpt ion
Domest ic Consumpt ion
9
COMPANY PROFILE
SMGR Corporat e Present at ion April 2012
10
1957 : Inaugurat ion of Gresik I, inst al l ed capacit y of 250, 000 t on cement per annum
1991 : Init ial Publ ic Of f ering, Market Cap. : IDR0. 63t n, resul t ing sharehol ding st ruct ure post IPO:
●
Government of Republ ic of Indonesia: 73
●
Publ ic: 27
1995 : Acquisit ion of PT Semen Padang Persero and PT Semen Tonasa Persero
1998 : Cemex became a st rat egic part ner, Market Cap. : IDR4. 9t n
2006 : Bl ue Val l ey Hol dings bought Cemex’ s 24. 9 st ake in SMGR, Market Cap. : IDR21. 5t n
2010 : In March 31, Bl ue Val l ey Hol dings sol d al l of it s st ake ownership in SMGR, Market Cap per April 30, 2010: IDR72. 1t n
2011 : Tot al inst al l ed capacit y of 20. 00mm t ons, Market Cap per Jan 31, 2012: IDR67. 0t n
2012 : Target ed t ot al inst al l ed capacit y of 22. 50mm t ons
BRIEF HISTORY BRIEF HISTORY
SMGR IS THE 1 CEMENT COMPANY IN INDONESIA
0,0 5,0
10,0 15,0
20,0 25,0
19 57
19 70
19 80
19 84
19 85
19 86
19 90
19 95
19 97
19 98
20 06
20 07
20 08
20 09
20 10
20 11
20 12
SMGR CAPACITY BUILD-OUT MM TONS SMGR CAPACITY BUILD-OUT MM TONS
Pre-consol i dat ed capaci t y Pre-consol i dat ed capaci t y
Post -consol i dat ed capaci t y
Based capacit y: 16. 9 mio t ons Upgrading: 3. 1 mio t ons
Inst alled capacit y: 22. 5 mio t ons 2012
11
Public The Government of the Republic of Indonesia
PT Semen Gresik Persero Tbk.
PT Semen Padang PT Semen Tonasa
OWNERSHIP STRUCTURE
1
OWNERSHIP STRUCTURE
1
FOCUSES IN CORE BUSINESS
¹ As of Apri l 09, 2010
Four subsidiaries Non-cement producers:
51. 01 48. 99
99. 99 99. 99
Name Act ivit ies
Ownership
1. Igasar Cement dist ribut ion
12. 00 2. Sepat im B
General t rading, cement packaging 85. 00 3. Bima SA
General t rading, cement packaging 80. 00 4. SUPS
Cement Packaging 10. 00
Six subsidiaries Non-cement producers: Name
Act ivit ies Ownership
1. UTSG Limest one Clay Mining
55. 00 2. IKSG
Cement Packaging 60. 00
3. KIG Indust rial Est at e
65. 00 4. Swadaya Gra
St eel f abricat ion, cont ract or 25. 00
5. Varia Usaha Transport and general t rading
24. 90 6. Et ernit Gresik
Building mat erials 17. 60
12 12
Tot al product ion capacit y EoY 2011: 19. 8 mn t ons and t arget t ed EoY 2012: 22. 2 mn t ons
Nat ionwide dist ribut ion net works: 361 Dist ribut ors
35 distribution warehouses in all areas of Java, Bali, Sumatra, Kalimantan, Sulawesi and Papua
Operat e 4 special sea port s: Padang, Tuban, Gresik, Biringkassi
19 large packing plants
2011
T eluk Bayur
Sumat era Kalimant an
Sulawesi Maluku
Papua
Lombok Bali
Java
Bat am
Ciwandan T anj ung Priok
Jakart a
Samarinda
Banj armasin Palu
Bit ung
Ambon Makassar
Biringkasi
Bali T abanan
Denpasar Singaraj an
DI Yogyakart a Lempuyangan
Jant i
Cent ral Java T egal
Purwokert o Kudus
Magelang Solo Palur
Alas T uwo Moj opahit
Sayung
West Java Serang
T angerang Bogor
Cibit ung Bandung
T asik Malaya Cirebon
Narogong
Belawan
Singapore Kuala Lumpur
T uban Surabaya
Cement Plant Packing Plant
Port Warehouse
East Java Margomulyo
T anj ung Wangi Bangkalan
Swabina
Aceh
Pelabuhan T uban Pelabuhan Gresik
Installed Cap.: 6.1 mn tons
Installed Cap.: 10.0 mn tons
Installed Cap.: 4.1 mn tons
Gresik
13 13
STRONG BALANCE SHEET AND RETURNS
Cash balance IDR bn Total debt IDR bn
3. 350 3. 836
3. 902 5. 283
1. 929 2. 939
2006 2007
2008 2009
2010 2011F
1. 601 660
224 159
180 151
2006 2007
2008 2009
2010 2011F
Include short t erm invest ment
Debt EBITDA Return on Assets
20,8 17,3
23,4 23,8
25,7 19.5
2006 2007
2008 2009
2010 2011F
0,31x 0,10x
0,03x 0,06x
0,05x 0.13x
2006 2007
2008 2009
2010 2010F
3, 0x
The proj ect ed adj ust ed debt EBITDA of 3. 0x and EBITDA Int er est of 3-4x t o mai nt ai n rat i ng l evel f rom Moody’ s Invest ors Servi ce.
FY2011: Forecasted, cement only
14 14
50 50
50 55
50
2006 2007
2008 2009
2010
Average: 51
2, 0 1, 6
3, 2 1. 0
JSX Top-20
INTP SMCB
SMGR SMGR DIVIDEND PAY OUT RATIO IN THE LAST 5 YEARS
SMGR DIVIDEND PAY OUT RATIO IN THE LAST 5 YEARS
: Based on
medi an of Top- 20 Bi ggest
Market Capi t al i zat i on
JSX l i st ed compani es i n
di vi dend yi el d, excl udi ng
Semen Gresi k f or FY2010
2010 DIVIDEND YIELD
1
2010 DIVIDEND YIELD
1
REGULAR DIVIDENDS REGULAR DIVIDENDS
Key determinants of dividend policy:
•
Historical dividend payout trends
•
Comparison with peers
•
Proj ected cash-flows available for dividends after taking into account potential expansionary capex etc
•
Analyst and investor expectations
•
Shareholder profile
REGULAR DIVIDEND PAYMENTS WITH ATTRACTIVE YIELD
1
shares pri ce based on
cl osi ng pri ce at t he end of year
15
MARKET UPDATE
SMGR Corporat e Present at ion April 2012
MARKET UPDATE - Cement Consumption FY2011 and 3M2012
DESCRIPTION 2011
2010 CHANGE
DOMESTIC 19, 59
17, 64 11. 1
EXPORT 0. 12
0. 29 56. 2
GRAND TOTAL 19, 71
17, 93 10. 0
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