2015
“Sustainability Resilience”
Operational 9M14
9M15
Δ
Production Vol 6.4
4.5 29.7
Sales Vol 6.1
4.8 21.3
Stripping Ratio 13.2
12.3 6.8
Sales 389.7
268.6 31.1
EBITDA 57.8
42.0 27.3
Net Profit 30.9
20.3 34.3
Financial 9M14
9M15 64.1
NEWC Index 61.4
16.1 73.2
ASP 55.9
12.8
mn ton mn ton
x USton
USton
US mn US mn
US mn
Δ
EBITDATon 9.5
8.8 7.4
USton
Focused on profitable production output through optimization of :
• Infrastructure and connectivity sharing
hauling road and coal processing plant
• Joint mine plan • Coal sale pricing driven by relationship,
consistency in scheduled delivery and product quality
• Competitive price-fixing relative to
benchmark Newcastle adjusted price
Note: 1 EBITDA = Gross Profit
– selling expenses – GA + depreciation and amortization
10
2008 2009
2010 2011
2012 2013
2014 2015e
ABN IM
TMU
G uidan
ce Yearly Coal Production
Mt : In Million Tons
5.6 6.5
6.0 – 8.0
8.1
Production volume rose significantly from only 800K tons in 2008 to 8.1
mn tons in 2014, booking CAGR growth of 47.1 over 6 years
To preserve profitable margin and coal reserves, 2015 production target
is expected at 6.0 –8.0 mn tons
Stripping Ratio SR expected to stabilize at 11x
–12x in 2015 from 13.3x in 2014
3Q15 results from subsidiaries came in line with 2015 quarterly guidance
Cumulative production achievement 10 Mt
Cumulative production achievement 20 Mt
5.2 4.1
0.8 2.0
2008 2009
ABN IM
0.1 1.1
0.7 0.9
0.8 2.0
Production Vol. mt
2010 2011
3.1 3.8
1.0 1.4
4.1 5.2
2012 4.4
1.0 5.6
2013 2014
4.2 4.4
1.4 2.3
6.5 8.1
TMU SR x
- -
11.9x 10.5x
- -
9.9x 12.7x
0.2 14.9x
0.9 1.4
13.4x 13.3x
2015e 4.0-5.0
1.1-1.5 6.0-8.0
0.9-1.5 11x
– 12x
11
Quarterly Production Stripping Ratio SR
Production in Thousand Tons
Production Summary
MT: Million Ton
9M14 9M15
Change Comment
Sales Volume mt
SR x 6.1
4.8
13.2 12.3
