1506 6M15 mbss update
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
120
100
80
60
40
20
Source: World Bank
NEWC
BRENT
458
412
432
•
353
402
280
382
•
352
345
287
•
215
65
66
67
72
76
80
2010
2011
2012
2013
2014
2015E
Export
Domestic
Source: Ministry of Energy & Mineral Resources
Production
•
Jun-15
May-15
Apr-15
Mar-15
Feb-15
Jan-15
Dec-14
Nov-14
Oct-14
Sep-14
Aug-14
Jul-14
Jun-14
May-14
Apr-14
Mar-14
Source: Bank Indonesia, Middle Rate
•
474
Feb-14
Jan-14
Jun-15
May-15
Apr-15
Mar-15
Feb-15
Jan-15
Dec-14
Nov-14
Oct-14
Sep-14
Aug-14
Jul-14
Jun-14
Apr-14
May-14
Mar-14
Feb-14
Jan-14
0
30
.0
10
0. %
0
25
.0
70
. 00
%
90
. 0%
60
. 00
%
25
.0
80
. 0%
20
.0
50
. 00
%
70
. 0%
20
.0
60
. 0%
15
.0
40
. 00
%
15
.0
50
. 0%
30
. 00
%
40
. 0%
10
.0
10
.0
30
. 0%
20
. 00
%
18
.0
5.0
20
. 0%
10
. 0%
0.0
0.0%
70
. 0%
35
.0
10
0. %
0
60
. 0%
30
.0
50
. 0%
25
.0
90
. 0%
16
.0
80
. 0%
14
.0
70
. 0%
12
.0
60
. 0%
40
. 0%
20
.0
30
. 0%
15
.0
10
.0
50
. 0%
8.0
40
. 0%
6.0
30
. 0%
4.0
2.0
0.0
20
. 0%
10
.0
10
. 0%
5.0
0.0%
0.0
5.0
20
. 0%
10
. 0%
0.0%
0.0
10
. 00
%
0.00%
1.0
0.9
0.5
0.8
0.3
0.7
0.6
0.1
0.5
0.4
-0. 1
0.3
0.2
-0. 3
0.1
0.0
Barging
Floating crane
-0. 5
3.63
2.86
3.03
2.95
1.99
1.98
1.91
1.80
FY12
FY13
FY14
6M15
Barging
Floating crane
74
75
78
5
7
7
7
FY12
FY13
FY14
6M15
66
Barging (sets)
Floating crane (units)
6M14
US$74.7m
6M15
US$53.0m
Barging volume
Floating crane volume
Mio t
Mio t
36.3%
Barging top 5 customers
7.8%
Floating crane top 5 customers
Cash
Net debt
Debt to equity
US$m
US$m
x
26.4%
18.0%
MBSS has implemented a more structured system of managing working
capital, through better funding mechanisms to generate a healthier and
more optimal cash position. Higher liquidity levels also provided with
greater flexibility to accelerate its business development when market
conditions and the macro-e o o y re over
49% of shares held by public, comprising of institutional, mutual fund and individual investors
Most of of pu li shareholders are i stitutio al i vestors
1800
1600
1400
1200
1000
800
600
400
200
0
1,505
715
1,036
52-week share performance (May’14 - Jun’15)
Highest
Lowest
Average
Dividend payment
Payment date
18 Jul. 2012
31 Jul. 2013
19 Jun. 2014
27 May 2015
Dividend distributed
Rp43 per share
Rp50 per share
US$0.0055 per share
US$0.00920275/share
Payout ratio
30.5%
24.6%
25.0%
80.0%
Apr-11
May-11
Jun-11
Jul-11
Aug-11
Sep-11
Oct-11
Nov-11
Dec-11
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Aug-14
Sep-14
Oct-14
Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
•
•
•
•
•
•
•
•
•
•
•
•
•
•
120
100
80
60
40
20
Source: World Bank
NEWC
BRENT
458
412
432
•
353
402
280
382
•
352
345
287
•
215
65
66
67
72
76
80
2010
2011
2012
2013
2014
2015E
Export
Domestic
Source: Ministry of Energy & Mineral Resources
Production
•
Jun-15
May-15
Apr-15
Mar-15
Feb-15
Jan-15
Dec-14
Nov-14
Oct-14
Sep-14
Aug-14
Jul-14
Jun-14
May-14
Apr-14
Mar-14
Source: Bank Indonesia, Middle Rate
•
474
Feb-14
Jan-14
Jun-15
May-15
Apr-15
Mar-15
Feb-15
Jan-15
Dec-14
Nov-14
Oct-14
Sep-14
Aug-14
Jul-14
Jun-14
Apr-14
May-14
Mar-14
Feb-14
Jan-14
0
30
.0
10
0. %
0
25
.0
70
. 00
%
90
. 0%
60
. 00
%
25
.0
80
. 0%
20
.0
50
. 00
%
70
. 0%
20
.0
60
. 0%
15
.0
40
. 00
%
15
.0
50
. 0%
30
. 00
%
40
. 0%
10
.0
10
.0
30
. 0%
20
. 00
%
18
.0
5.0
20
. 0%
10
. 0%
0.0
0.0%
70
. 0%
35
.0
10
0. %
0
60
. 0%
30
.0
50
. 0%
25
.0
90
. 0%
16
.0
80
. 0%
14
.0
70
. 0%
12
.0
60
. 0%
40
. 0%
20
.0
30
. 0%
15
.0
10
.0
50
. 0%
8.0
40
. 0%
6.0
30
. 0%
4.0
2.0
0.0
20
. 0%
10
.0
10
. 0%
5.0
0.0%
0.0
5.0
20
. 0%
10
. 0%
0.0%
0.0
10
. 00
%
0.00%
1.0
0.9
0.5
0.8
0.3
0.7
0.6
0.1
0.5
0.4
-0. 1
0.3
0.2
-0. 3
0.1
0.0
Barging
Floating crane
-0. 5
3.63
2.86
3.03
2.95
1.99
1.98
1.91
1.80
FY12
FY13
FY14
6M15
Barging
Floating crane
74
75
78
5
7
7
7
FY12
FY13
FY14
6M15
66
Barging (sets)
Floating crane (units)
6M14
US$74.7m
6M15
US$53.0m
Barging volume
Floating crane volume
Mio t
Mio t
36.3%
Barging top 5 customers
7.8%
Floating crane top 5 customers
Cash
Net debt
Debt to equity
US$m
US$m
x
26.4%
18.0%
MBSS has implemented a more structured system of managing working
capital, through better funding mechanisms to generate a healthier and
more optimal cash position. Higher liquidity levels also provided with
greater flexibility to accelerate its business development when market
conditions and the macro-e o o y re over
49% of shares held by public, comprising of institutional, mutual fund and individual investors
Most of of pu li shareholders are i stitutio al i vestors
1800
1600
1400
1200
1000
800
600
400
200
0
1,505
715
1,036
52-week share performance (May’14 - Jun’15)
Highest
Lowest
Average
Dividend payment
Payment date
18 Jul. 2012
31 Jul. 2013
19 Jun. 2014
27 May 2015
Dividend distributed
Rp43 per share
Rp50 per share
US$0.0055 per share
US$0.00920275/share
Payout ratio
30.5%
24.6%
25.0%
80.0%
Apr-11
May-11
Jun-11
Jul-11
Aug-11
Sep-11
Oct-11
Nov-11
Dec-11
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Aug-14
Sep-14
Oct-14
Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15