PE 10 June 2016 GEMS bahasa INGGRIS FINAL

PUBLIC EXPOSE
PT Golden Energy Mines Tbk

Jakarta, 10 June 2016
Paseo Room, Sinar Mas Land Plaza, Tower II, 39th floor
Jln. MH Thamrin No. 51, Jakarta Pusat

Table of Contents

COMPANY OVERVIEW
SIGNIFICANT ACHIEVEMENTS
QUARTER 1 FINANCIAL REVIEW

QUESTION AND ANSWER

COMPANY OVERVIEW

PT Golden Energy Mines Tbk :

10 Juni 2016


PUBLIC EXPOSE

Company Overview

1.

Engaged in coal mining through its Subsidiaries and in coal trading

2.

On November 17, 2011, The Company did Initial Public Offering (IPO)
and listed on the main board of IDX with stock code of GEMS.

3.

The strategic investor, GMR Coal Resources Pte. Ltd holds 30% shares
from the total issued and paid-up capital by Company in such IPO.

4.


The Company market capitalization per 11 April 2016 amounting to
Rp 10.000.000.100.000, - (Rp 1,700 / share).

Ruang Paseo, Sinar Mas Land Plaza, Menara II, Lantai 39

COMPANY STRUCTURE
PT Golden Energy Mines Tbk

100%

99%

BAS

Shanghai Co

100%

99.9998%


70%

GEMSTR

KIM

TKS

99.9951%

99.9902%

99.9999%

99%

GEMS ENERGY

99.016%
1.000%


RCI

1%

99.9181%

99.9917%

TBBU
0.0002 %

KCP
0.0083%

BBU

BHBA
0.0098 %


0.0049 %

99.0701%

BNP

BIB

0.0001%

0.0817%

Subsidiaries which majority shares are owned by The Company:
RCI
BIB
TKS
KIM
GEMSTR
Shanghai Co
BAS

TBBU
10 Juni 2016

: PT Roundhill Capital Indonesia
: PT Borneo Indobara
: PT Trisula Kencana Sakti
: PT Kuansingg Inti Makmur
: GEMS Trading Resources Pte.Ltd
: Shanghai Jingguang Energy Co. Ltd
: PT Bumi Anugerah Semesta
: PT Tanjung Belit Bara Utama

KCP
BBU
BHBA
BNP
GEMS Energy

: PT Karya Cemerlang Persada
: PT Bungo Bara Utama

: PT Bara Harmonis Batang Asam
: PT Berkat Nusantara Permai
: PT GEMS Energy Indonesia

Ruang Paseo, Sinar Mas Land Plaza, Menara II, Lantai 39

MINING LOCATIONS AND PERMIT
The total mining area of all Company Subsidiaries is calculated at 38,165 ha
with total resources and reserves of approximately 2 billion tonnes and 600 million tonnes, respectively

Permit

: IUP (2009-2029)

Size

: 2.610 ha

Location : Bungo Regency, Jambi


10 Juni 2016

Permit

: IUP (2009-2028)

Permit

: PKP2B Gen. 2 (2006-2036)

Size

: 11.455 ha

Size

: 24.100 ha

Location


: North Barito and East
Barito Regencies,
Central of Kalimantan

Location

: Tanah Bumbu Regency,
South Kalimantan

Ruang Paseo, Sinar Mas Land Plaza, Menara II, Lantai 39

SIGNIFICANT ACHIEVEMENTS

SIGNIFICANT ACHIEVEMENTS

TOP 50 OF THE PUBLIC LISTED COMPANY WITH THE BEST GCG
 According to IICD version announced on 16 November 2015 at the Hotel Indonesia Kempinski,
Jakarta.
 The Company manage to maintain its positions in the ranked of 31-40.
 This award was received by the Company for the last 3 years.


10 Juni 2016

Ruang Paseo, Sinar Mas Land Plaza, Menara II, Lantai 39

SIGNIFICANT ACHIEVEMENTS

CREDITOR’ CONFIDENCE
Bank Mega Credit Agreement
 On 11 May 2016, the Company and PT Bank Mega Tbk has signed an Addendum to Credit
Agreement for additional Demand Loan of USD 10 million with interest of 9% per annum for a
period of 1 year.
On 11 May 2016, the Company's indirect subsidiaries, BIB and PT Bank Mega has signed a
Credit Agreement for Demand Loan of USD 30 million with interest of 9% per annum for a
period of 1 year.
 These facility will be used by the Company and BIB as working capital.

10 Juni 2016

Ruang Paseo, Sinar Mas Land Plaza, Menara II, Lantai 39


SIGNIFICANT ACHIEVEMENTS

ACHIEVEMENTS FROM GOVERMENT
 the Company, through its subsidiary, PT Kuansing Inti Makmur receive award in achievement of
19 million working hour without accident (Lost Time Incident) from Bungo Regent. The award is
given to the company with no working accident (zero accident) and comply to K3 until 31
December 2015.
 The Company also through its subsidiaries achieved awards in environmental management,
both KIM and BIB, again obtained PROPER BLUE Certificates from the Ministry of Environment
for the achievement and performance in the sector of environmental management and
monitoring of mining companies for period 2014-2015.

10 Juni 2016

Ruang Paseo, Sinar Mas Land Plaza, Menara II, Lantai 39

QUARTER 1 FINANCIAL REVIEW
EMBRACING CHANGE
ENHANCING OPPORTUNITIES

$113,60

Prices continued to slip

140.00

120.00

100.00

80.00

60.00

$49,85

NEWC

ICI4

1 Nov’11 – 6 Jun’16
Dropped by 52%

$54,14

$50.49

$27,51

1 Nov’11 – 3 Jun’16
Dropped by 45%

$26.65

Ruang Paseo, Sinar Mas Land Plaza, Menara II, Lantai 39

17-Nov-11
21-Dec-11
26-Jan-12
29-Feb-12
3-Apr-12
9-May-12
12-Jun-12
16-Jul-12
17-Aug-12
20-Sep-12
24-Oct-12
27-Nov-12
3-Jan-13
6-Feb-13
12-Mar-13
17-Apr-13
22-May-13
25-Jun-13
29-Jul-13
30-Aug-13
3-Oct-13
13-Nov-13
17-Dec-13
23-Jan-14
26-Feb-14
1-Apr-14
7-May-14
10-Jun-14
14-Jul-14
15-Aug-14
19-Sep-14
23-Oct-14
26-Nov-14
2-Jan-15
5-Feb-15
11-Mar-15
15-Apr-15
20-May-15
24-Jun-15
28-Jul-15
1-Sep-15
5-Oct-15
6-Nov-15
10-Dec-15
15-Jan-16
18-Feb-16
23-Mar-16
28-Apr-16
3-Jun-16

40.00

20.00

60.00

50.00

40.00

30.00

20.00

10.00

-

10 Juni 2016

17 Nov 2011
17 Dec 2011
17 Jan 2012
17 Feb 2012
17 Mar 2012
17 Apr 2012
17 May 2012
17 Jun 2012
17 Jul 2012
17 Aug 2012
17 Sep 2012
17 Oct 2012
17 Nov 2012
17 Dec 2012
17 Jan 2013
17 Feb 2013
17 Mar 2013
17 Apr 2013
17 May 2013
17 Jun 2013
17 Jul 2013
17 Aug 2013
17 Sep 2013
17 Oct 2013
17 Nov 2013
17 Dec 2013
17 Jan 2014
17 Feb 2014
17 Mar 2014
17 Apr 2014
17 May 2014
17 Jun 2014
17 Jul 2014
17 Aug 2014
17 Sep 2014
17 Oct 2014
17 Nov 2014
17 Dec 2014
17 Jan 2015
17 Feb 2015
17 Mar 2015
17 Apr 2015
17 May 2015
17 Jun 2015
17 Jul 2015
17 Aug 2015
17 Sep 2015
17 Oct 2015
17 Nov 2015
17 Dec 2015
17 Jan 2016
17 Feb 2016
17 Mar 2016
17 Apr 2016
17 May 2016

$108.22

BRENT

140.00

120.00

100.00

80.00

60.00

40.00

20.00

-

10 Juni 2016

BRENT
1 Nov’11 – 6 Jun’16
Dropped by 53%

$50.44

Ruang Paseo, Sinar Mas Land Plaza, Menara II, Lantai 39

17-Nov-11
17-Dec-11
17-Jan-12
17-Feb-12
17-Mar-12
17-Apr-12
17-May-12
17-Jun-12
17-Jul-12
17-Aug-12
17-Sep-12
17-Oct-12
17-Nov-12
17-Dec-12
17-Jan-13
17-Feb-13
17-Mar-13
17-Apr-13
17-May-13
17-Jun-13
17-Jul-13
17-Aug-13
17-Sep-13
17-Oct-13
17-Nov-13
17-Dec-13
17-Jan-14
17-Feb-14
17-Mar-14
17-Apr-14
17-May-14
17-Jun-14
17-Jul-14
17-Aug-14
17-Sep-14
17-Oct-14
17-Nov-14
17-Dec-14
17-Jan-15
17-Feb-15
17-Mar-15
17-Apr-15
17-May-15
17-Jun-15
17-Jul-15
17-Aug-15
17-Sep-15
17-Oct-15
17-Nov-15
17-Dec-15
17-Jan-16
17-Feb-16
17-Mar-16
17-Apr-16
17-May-16

IDR Slipped

8,500
9,500

IDR appreciated ~ 2% during
1 Jan’1 – 6 Jun’1

10,500
11,500

13,478

12,500
13,500
14,500

13,795
15,500

10 Juni 2016

Ruang Paseo, Sinar Mas Land Plaza, Menara II, Lantai 39

Quantitative Performance (in mmt)

Production

Sales

10.000

10.000
8.697

9.000

9.000

8.000
6.582

6.000

7.688

5.345

7.000

6.000

5.356

5.689

5.000

4.390

4.000

4.000

3.000

2.679

3.000
1.617

2.000

1.963

1.000

1.928

2.000
1.000

-

11

10 Juni 2016

8.370

8.000

7.000

5.000

9.474
9.010

12

13

14

15

Q1 2015 Q1 2016

11

12

13

14

15

Q1 2015 Q1 2016

Ruang Paseo, Sinar Mas Land Plaza, Menara II, Lantai 39

Market portfolio - changing landscape
Performance (in mmt)

10 Juni 2016

Ruang Paseo, Sinar Mas Land Plaza, Menara II, Lantai 39

Costs
Performance (in mmt)

BIB COGS cash cost*

usd/pmt
36.00

34.40

34.00
32.00
30.00

29.11
27.85

28.00

25.39

26.00

23.53

24.00

22.00
20.25
20.00
18.00
2012

2013

2014

2015

Q1 2015

Q1 2016

* Includes selling expenses

Cost rationalization initiatives:
McKinsey (2012) and AT Kearney (2015) engaged for a cost optimization and process
improvement study
Recalibration of contractor costs
10 Juni 2016

Ruang Paseo, Sinar Mas Land Plaza, Menara II, Lantai 39

Q1 Financial Performance
Performance (in mmt)

Q1 2015

Q1 2016

%

Production (mmt)

1.617

1.963

21%

Sales (mmt)

1.928

2.679

39%

Net Sales

77.983

94.165

21%

Gross Profit

31.034

23.644

-24%

40%

25%

9.625

11.943

12%

13%

4.298

4.408

6%

5%

2.737

1.533

4%

2%

7.683

8.950

10%

10%

(m usd)

GM %

EBITDA
EBITDA %

EBT
EBT %

EAT
EAT %

Cash Profit
CP %

10 Juni 2016

24%
3%
-44%
16%

Ruang Paseo, Sinar Mas Land Plaza, Menara II, Lantai 39

Statement of Financial Position (m usd)
Performance (

Liabilities

Dec 2015

Mar 2016

Net Worth

247.512

Borrowings

49.238

49.050

3.770

3.973

Other liabilities

TOTAL

10 Juni 2016

300.520

Assets

Dec 2015

248.829 Fixed Assets

Mar 2016

52.972

52.250

Def Exploration
and Def Stripping

60.619

57.603

Net Working
Capital

83.167

91.021

Cash and cash
equivalents

43.422

42.166

Other assets

60.340

58.812

300.520

301.852

301.852 T O T A L

Ruang Paseo, Sinar Mas Land Plaza, Menara II, Lantai 39

Cash Management
Performance (in mmt)

Description

31 Dec 2012

31 Dec 2013

31 Dec 2014

31 Dec 2015

30 Apr 2016

98

64

63

43

38

Debt Balance – in m usd

-

-

-

49

49

Debt to Equity Ratio (X)

-

-

-

0.20

0.20

End cash balance – in m usd

In May 2016, the Company and BIB signed USD 40 million Demand Loan facility with PT Bank Mega
Tbk

10 Juni 2016

Ruang Paseo, Sinar Mas Land Plaza, Menara II, Lantai 39

Key Ratio
Performance (in mmt)

FINANCIAL RATIO

Q1 2015

Q1 2016

Return on Asset Ratio (%)

0.9%

0.4%

Return on Equity Ratio (%)

1.0%

0.6%

Net Income to Net Sales Ratio (%)

3.4%

1.6%

Current Ratio (X)

2.64

2.85

Liabilities to Equity Ratio (X)

0.19

0.50

Liabilities to Assets Ratio (X)

0.16

0.33

10 Juni 2016

Ruang Paseo, Sinar Mas Land Plaza, Menara II, Lantai 39

Q &A

THANK YOU