Analyst Meeting FY15
PT Elnusa Tbk
Analyst Meeting FY15
www.elnusa.co.id
Vision & Mission
Trusted Energy Services Company
Vision
Mission
•
•
•
Corporate Values
• Clean
• Respectful
• Synergy
•
Business expansion from integrated upstream oil &
gas services to energy services
Create a stable business growth that fulfills the
shareholders expectations, followed by human
resources competence development and the
mastering of energy services related technologies.
Achieve and maintain customer satisfaction by
providing high quality products based on the
operational principles.
Maintain a harmonious and mutually beneficial
relationship with the government, partners and
Community.
2
Elnusa at a Glance
Fundamental Strengths
1
Significant Track Record in
Upstream Oil & Gas Services
Industry : Has been 45 years
providing the services, Elnusa
has been a market leader in
Indonesia for Land Seismic and a
trusted provider for Oilfield
services.
2
Experienced & Qualified
Personnel : along with reliable
equipment, experienced &
competent personnel delivers
customer satisfaction & service
excellence.
3
Proudly HSE Achievement &
Reputation : Elnusa quality of
performance always meets the
standards of ISO 9001:2008 &
OHSAS 18001:2007, and is
recognized by many customers.
4
Strong Customer Base : with national and
international oil and gas companies as loyal
customers and operation projects cover the Nation
3
Milestones
Establishment
Entered
Seismic
Business
Data Management,
Oilfield Services,
Fuel Trading &
Distribution
Establishment of
Drilling Services,
Fabrication
2013‐2014
Non Core
Divestments
Turnaround
Program
Year of Human
Resources
Initial Public Offering
7.298.500.000 Shares
2015
Strengthening operational level, organization and
internal control functions, redefining all
product/services and improvements
4
Company Structure
PT Pertamina (Persero)
Dana Pensiun
Pertamina
Public
41.10%
17.81%
41.09%
Intergrated Upstream
Oil & Gas Services
Oil & Gas Support
Services
Energy Distribution &
Logistic Services
PT Elnusa Oilfield Services
(99,99%)
PT Elnusa Fabrikasi Konstruksi
(97,35%)
PT Elnusa Petrofin
(99,93%)
PT Elnusa Geosains Indonesia
(99,99%)
PT Patra Nusa Data
(70,00%)
PT Elnusa Patra Ritel
(98,00%)
PT Sigma Cipta Utama
(99,99%)
PT Elnusa Trans Samudera
(98,23%)
5
Integrated Upstream Services
Oilfield Maintenance Services
Hydraulic Workover &
Snubbing
11 Units HWU Snubbing with
Rig Up 150K, 225K & 340K type
Coiled Tubing, Well
Stimulation & Pumping
3 CTU Units, 3 Cementing &
Pumping Units
Well Testing & Slickline
3 Testing & 3 Working Barges ,
2 MPB, 1 LCT, 7 Slickline Units,
3 SFT & 4 DST Units
Drilling Services
Drilling Rig
Services
1 Unit Rig of 1600 HP, 3 Units of
550 HP, 1 Unit of 900 HP
Drilling Support
Mud & Chemical
16 MLU, 9 H2S Units, Drilling
Fluid Services
Electric Wireline
Logging
19 Units for Open Hole Logging
& Cased Hole Logging Services
Operation &
Maintenance
Field & pipeline operation
maintenance service
Special Group Services
Modular Crane Services, Field
Operation Management,
Enhance Oil Recovery
6
Integrated Upstream Services
Seismic Data Acquisition
Seismic Data Processing
Non Seismic Surveys
Gravity Survey
Magnetotelluric & Time Domain
Electromagnetic
Magnetic Survey
7
Energy Distribution & Logistic Services
PT Elnusa Petrofin
FUEL STORAGE /
DEPOT MANAGEMENT
• Managing 11 private depots
with VHS system
• Managing 6 depots with
marine system franco
FUEL FLEET
MANAGEMENT
• Managing fuel transportations
for 23 TBBM locations.
• Fuel distributions to 157 APMS
in kalimantan
• Managing transportation for 27
SPBB.
• Renting 70 units of MT BBM
and 10 units of MT LPG to
Pertamina.
GAS STATION & LPG
FILLING STATION
• Managing 2 SPBU
and 1 SPBE
CHEMICAL, INDUSTRIAL
& MARINE FUEL
TRADING
• Trading specialty chemical for
oil& gas industry, commodity
chemical trading.
• Refill, blending & technical
services.
• Industry and marine fuel
trading.
8
Upstream Support Services
Elnusa Fabrikasi
Konstruksi
Fabrication services (pumping unit for
CTU, HWU), threading & trading of Pipa
Oil Country Turbular Goods (OCTG) and
EPC projects
Patra Nusa
Data
Oil & gas data management, licensing
services, online data services and
physical storage services
Sigma Cipta
Utama
Information system and electronic data
physical storage, management services,
oil & gas geological materials storage,
radio tel services.
Elnusa Trans
Samudera
Marine oil & gas support services
9
Awards & Achievements
The Award of 20 Best Choice of
Leading Technology of Youth of
Nation from Kemenristekdikti
Wealth Added Creator Award 2015
PHE ONWJ Safety Award for 4 years
operation of Coiled Tubing
Operation & Hydraulic Workover
without Lost Time Incident
Sertifikat ISO 9001:2008
UKAS Management
System 005
Second Prize on 2014 Private
Non Financial Listed Annual
Report Award
Sertifikat OHSAS
18001: 2007
Sertifikat ISO
14001:2004
SAS Acreditation
10
ELSA Stock Performance
ELSA Shares Performance 2014‐2015
Harga
Volum
2015 ELSA Non Controlling Ownership
800
12%
25%
700
600
500
400
300
200
33%
25%
100
5%
0
J F M A M J J A S O N D J F M A M J J A S O N D
ELSA shares has been apreciated 104% in 2014 but dropped
63% in 2015 compare to beginning of the year
Opening 2015 Rp670 and Closing 2015 Rp247
Issued shares 7.298.500.000 shares
Market Cap 2015 : Rp 1.8 trillion (+/‐ USD 135 million)
Average share price and volume in 2015 : Rp 461 dan 32mn
shs/day.
ELSA non controlling ownership in 2015 were dominated by
domestic Individuals
Foreign Institution : 25%
Insurance : 26%
Mutual Fund : 20%
Domestic Individuals : 24%
Others
: 6%
11
Financial Highlights
IDR Bn
Revenue
Cost of Revenue
Gross Profit
Operating Profit
EBITDA
Net Income (w/o XO item)
Gain on Sale of Assets
Net Income (incl XO item)
EPS
2014
Rp (bn)
%
4.221 100,0%
3.461
82,0%
760
18,0%
425
10,1%
665
15,8%
325
7,7%
87
2,1%
412
9,8%
57
1,4%
2014 (Restated)
Rp (bn)
%
4.221
100,0%
3.461
82,0%
760
18,0%
443
10,5%
683
16,2%
339
8,0%
87
2,1%
426
10,1%
58
1,4%
2015
Rp (bn)
%
3.775
100,0%
3.057
81,0%
719
19,0%
470
12,5%
736
19,5%
375
9,9%
‐
0,0%
375
9,9%
51
1,4%
Total Assets
Total Liabilities
Total Equity
Account Receivables
Account Payables
Interest Bearing Debt
4.246
1.663
2.583
930
1.068
436
4.257
1.707
2.549
930
1.068
436
4.408
1.772
2.635
790
895
740
100,0%
39,2%
60,8%
21,9%
25,2%
10,3%
100,0%
40,1%
59,9%
21,8%
25,1%
10,2%
YoY
‐10,6%
‐11,7%
‐5,4%
6,1%
7,8%
10,6%
‐100,0%
‐12,0%
‐12,6%
100,0%
3,5%
40,2%
3,8%
59,8%
3,4%
17,9%
‐15,1%
20,3%
‐16,2%
16,8%
69,7%
12
Yearly Performance YTD
4.500
25%
Consolidated
4.000
1.800
19%
18%
3.500
20%
15%
2.500
4.221
3.775
10%
5%
500
760
25%
1.200
20%
800
1.681
15%
1.540
0%
FY14
1.000
40%
35%
30%
700
22%
25%
500
20%
867
799
20%
15%
300
10%
200
189
162
‐
5%
0%
FY14
FY15
436
401
‐
2.000
1.900
1.800
1.700
1.600
1.500
1.400
1.300
1.200
1.100
1.000
900
800
700
600
500
400
300
200
100
‐
Revenue
FY15
Gross Profit
Uneliminated
30%
Subsidiaries
25%
20%
1.660
1.848
15%
14%
10%
11%
5%
205
232
0%
FY14
Uneliminated
5%
0%
FY14
800
100
400
FY15
Seismic Services
900
10%
200
719
‐
IDR bn
26%
26%
600
1.000
400
30%
1.600
1.000
1.500
600
35%
Oilfield & Drilling Sevices
1.400
3.000
2.000
2.000
Gross Margin
FY15
Uneliminated
13
Quarterly Performance
Consolidated
1.400
24%
1.200
1.156
30%
700
25%
600
45%
Oilfield & Drilling Services
40%
35%
1.000
20%
500
28%
400
800
25%
364
15%
20%
300
600
10%
400
278
200
5%
‐
0%
Sep 14
490
Dec 14
Mar 15
Jun 15
Sep 15
Seismic Services
390
101
100
30%
10%
5%
‐
0%
Sep 14
35%
409
15%
200
Dec 15
30%
Dec 14
700
Mar 15
Jun 15
Sep 15
Dec 15
25%
Subsidiaries
600
20%
30%
25%
500
449 17%
20%
290
15%
400
15%
190
90
124
10%
300
5%
200
0%
‐5%
‐10%
(10)
Sep 14
IDR bn
Dec 14
Mar 15
Jun 15
Sep 15
Dec 15
Revenue
10%
76
100
‐
5%
0%
Sep 14
Gross Profit
Dec 14
Mar 15
Jun 15
Gross Margin
Sep 15
Dec 15
14
Oilfield & Drilling by Services
Revenue & Growth
Drilling
Electric Wireline Logging
544
Hydraulic Workover
326
291
409
243
‐16%
214
‐25%
FY14
52%
FY15
FY14
FY15
Snubbing
108
150
‐15%
114
95
‐68%
FY14
FY14
Drilling Fluid
Coiled Tubing Unit
174
FY15
FY15
FY14
‐5%
30
FY15
FY14
FY15
IDR bn
15
Oilfield & Drilling by Services
Revenue & Growth
Well Testing
Operation Maintenance
Slickline
110
57
31%
3%
84
FY14
FY15
FY14
Cementing & Pumping
35
‐34%
70
58
40
FY15
FY14
75%
FY15
Drilling Evaluation
33
23
‐66%
11
FY14
FY15
FY14
FY15
IDR bn
16
Seismic Services
Revenue & Growth
Seismic Land
731
4%
703
FY14
Seismic Marine
FY15
Geodata Processing
83
81
‐100%
‐18%
69
0
FY14
FY15
FY14
FY15
17
Subsidiaries Performance
Elnusa Petrofin
1.587
‐18%
1.307
FY14
Sigma Cipta Utama
64
62
FY15
Patra Nusa Data
FY14
133%
97
‐3%
‐25%
FY15
FY14
Elnusa Fabrikasi Konstruksi
131
73
56
FY15
FY14
FY15
IDR bn
Revenue
18
Contract Replacement Profile
Contract per FY15 and Forward
USD jt
SEGMENT
CARRIED OVER
A
NEW CONTRACT
B
TOTAL CONTRACT
A+B
VALUE 2015 (Exp)
C
VALUE ONWARD
A+B‐C
Oilfield & Drilling
Seismic
TOTAL
230
28
258
102
94
196
332
122
454
115
58
173
217
64
281
19
Capex
A = New Investments
750
B = Replacements
A = 227
B = 262
500
250
A = 324
B = 167
A = 337
B = 30
489
A = 26
B = 104
491
A = 51
B = 59
130
110
2012
2013
366
0
IDR bn
2011
2014
2015
Area of Investment (Oilfield & Drilling Services & Seismic) :
Electric Wireline Unit
Portable Slickline Unit
Geophones
Coiled Tubing Unit
Barges
Modular Rig
20
Thank You
DISCLAIMER :
The information in this document has not been independently verified. No representation or warranty expressed or implied is made as to, and no reliance
should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. None of PT Elnusa Tbk (the
“Company“), nor any of its affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss whatsoever
arising from the use of this document or its contents or otherwise arising in connection with this document.
This document is being furnished to you solely for your information on a confidential basis and may not be reproduced, redistributed or passed on, in whole
or in part, to any other person. Any failure to comply with these restrictions may constitute a violation of the laws of any such other jurisdiction. By
accepting this document you agree to be bound by the foregoing limitations.
This document does not constitute or form part of an offer or invitation to purchase any shares in the Company and neither shall any part of it form the
basis of nor be relied upon in connection with any contract or commitment whatsoever. Any decision to purchase shares should be made solely on the basis
of information contained in the prospectus.
PT Elnusa Tbk.
Graha Elnusa
Jl. T.B. Simatupang Kav. 1B
Jakarta 12560, Indonesia
Tel: +62 21‐78830850
Fax: +62 21‐78830907
www.elnusa.co.id
21
Analyst Meeting FY15
www.elnusa.co.id
Vision & Mission
Trusted Energy Services Company
Vision
Mission
•
•
•
Corporate Values
• Clean
• Respectful
• Synergy
•
Business expansion from integrated upstream oil &
gas services to energy services
Create a stable business growth that fulfills the
shareholders expectations, followed by human
resources competence development and the
mastering of energy services related technologies.
Achieve and maintain customer satisfaction by
providing high quality products based on the
operational principles.
Maintain a harmonious and mutually beneficial
relationship with the government, partners and
Community.
2
Elnusa at a Glance
Fundamental Strengths
1
Significant Track Record in
Upstream Oil & Gas Services
Industry : Has been 45 years
providing the services, Elnusa
has been a market leader in
Indonesia for Land Seismic and a
trusted provider for Oilfield
services.
2
Experienced & Qualified
Personnel : along with reliable
equipment, experienced &
competent personnel delivers
customer satisfaction & service
excellence.
3
Proudly HSE Achievement &
Reputation : Elnusa quality of
performance always meets the
standards of ISO 9001:2008 &
OHSAS 18001:2007, and is
recognized by many customers.
4
Strong Customer Base : with national and
international oil and gas companies as loyal
customers and operation projects cover the Nation
3
Milestones
Establishment
Entered
Seismic
Business
Data Management,
Oilfield Services,
Fuel Trading &
Distribution
Establishment of
Drilling Services,
Fabrication
2013‐2014
Non Core
Divestments
Turnaround
Program
Year of Human
Resources
Initial Public Offering
7.298.500.000 Shares
2015
Strengthening operational level, organization and
internal control functions, redefining all
product/services and improvements
4
Company Structure
PT Pertamina (Persero)
Dana Pensiun
Pertamina
Public
41.10%
17.81%
41.09%
Intergrated Upstream
Oil & Gas Services
Oil & Gas Support
Services
Energy Distribution &
Logistic Services
PT Elnusa Oilfield Services
(99,99%)
PT Elnusa Fabrikasi Konstruksi
(97,35%)
PT Elnusa Petrofin
(99,93%)
PT Elnusa Geosains Indonesia
(99,99%)
PT Patra Nusa Data
(70,00%)
PT Elnusa Patra Ritel
(98,00%)
PT Sigma Cipta Utama
(99,99%)
PT Elnusa Trans Samudera
(98,23%)
5
Integrated Upstream Services
Oilfield Maintenance Services
Hydraulic Workover &
Snubbing
11 Units HWU Snubbing with
Rig Up 150K, 225K & 340K type
Coiled Tubing, Well
Stimulation & Pumping
3 CTU Units, 3 Cementing &
Pumping Units
Well Testing & Slickline
3 Testing & 3 Working Barges ,
2 MPB, 1 LCT, 7 Slickline Units,
3 SFT & 4 DST Units
Drilling Services
Drilling Rig
Services
1 Unit Rig of 1600 HP, 3 Units of
550 HP, 1 Unit of 900 HP
Drilling Support
Mud & Chemical
16 MLU, 9 H2S Units, Drilling
Fluid Services
Electric Wireline
Logging
19 Units for Open Hole Logging
& Cased Hole Logging Services
Operation &
Maintenance
Field & pipeline operation
maintenance service
Special Group Services
Modular Crane Services, Field
Operation Management,
Enhance Oil Recovery
6
Integrated Upstream Services
Seismic Data Acquisition
Seismic Data Processing
Non Seismic Surveys
Gravity Survey
Magnetotelluric & Time Domain
Electromagnetic
Magnetic Survey
7
Energy Distribution & Logistic Services
PT Elnusa Petrofin
FUEL STORAGE /
DEPOT MANAGEMENT
• Managing 11 private depots
with VHS system
• Managing 6 depots with
marine system franco
FUEL FLEET
MANAGEMENT
• Managing fuel transportations
for 23 TBBM locations.
• Fuel distributions to 157 APMS
in kalimantan
• Managing transportation for 27
SPBB.
• Renting 70 units of MT BBM
and 10 units of MT LPG to
Pertamina.
GAS STATION & LPG
FILLING STATION
• Managing 2 SPBU
and 1 SPBE
CHEMICAL, INDUSTRIAL
& MARINE FUEL
TRADING
• Trading specialty chemical for
oil& gas industry, commodity
chemical trading.
• Refill, blending & technical
services.
• Industry and marine fuel
trading.
8
Upstream Support Services
Elnusa Fabrikasi
Konstruksi
Fabrication services (pumping unit for
CTU, HWU), threading & trading of Pipa
Oil Country Turbular Goods (OCTG) and
EPC projects
Patra Nusa
Data
Oil & gas data management, licensing
services, online data services and
physical storage services
Sigma Cipta
Utama
Information system and electronic data
physical storage, management services,
oil & gas geological materials storage,
radio tel services.
Elnusa Trans
Samudera
Marine oil & gas support services
9
Awards & Achievements
The Award of 20 Best Choice of
Leading Technology of Youth of
Nation from Kemenristekdikti
Wealth Added Creator Award 2015
PHE ONWJ Safety Award for 4 years
operation of Coiled Tubing
Operation & Hydraulic Workover
without Lost Time Incident
Sertifikat ISO 9001:2008
UKAS Management
System 005
Second Prize on 2014 Private
Non Financial Listed Annual
Report Award
Sertifikat OHSAS
18001: 2007
Sertifikat ISO
14001:2004
SAS Acreditation
10
ELSA Stock Performance
ELSA Shares Performance 2014‐2015
Harga
Volum
2015 ELSA Non Controlling Ownership
800
12%
25%
700
600
500
400
300
200
33%
25%
100
5%
0
J F M A M J J A S O N D J F M A M J J A S O N D
ELSA shares has been apreciated 104% in 2014 but dropped
63% in 2015 compare to beginning of the year
Opening 2015 Rp670 and Closing 2015 Rp247
Issued shares 7.298.500.000 shares
Market Cap 2015 : Rp 1.8 trillion (+/‐ USD 135 million)
Average share price and volume in 2015 : Rp 461 dan 32mn
shs/day.
ELSA non controlling ownership in 2015 were dominated by
domestic Individuals
Foreign Institution : 25%
Insurance : 26%
Mutual Fund : 20%
Domestic Individuals : 24%
Others
: 6%
11
Financial Highlights
IDR Bn
Revenue
Cost of Revenue
Gross Profit
Operating Profit
EBITDA
Net Income (w/o XO item)
Gain on Sale of Assets
Net Income (incl XO item)
EPS
2014
Rp (bn)
%
4.221 100,0%
3.461
82,0%
760
18,0%
425
10,1%
665
15,8%
325
7,7%
87
2,1%
412
9,8%
57
1,4%
2014 (Restated)
Rp (bn)
%
4.221
100,0%
3.461
82,0%
760
18,0%
443
10,5%
683
16,2%
339
8,0%
87
2,1%
426
10,1%
58
1,4%
2015
Rp (bn)
%
3.775
100,0%
3.057
81,0%
719
19,0%
470
12,5%
736
19,5%
375
9,9%
‐
0,0%
375
9,9%
51
1,4%
Total Assets
Total Liabilities
Total Equity
Account Receivables
Account Payables
Interest Bearing Debt
4.246
1.663
2.583
930
1.068
436
4.257
1.707
2.549
930
1.068
436
4.408
1.772
2.635
790
895
740
100,0%
39,2%
60,8%
21,9%
25,2%
10,3%
100,0%
40,1%
59,9%
21,8%
25,1%
10,2%
YoY
‐10,6%
‐11,7%
‐5,4%
6,1%
7,8%
10,6%
‐100,0%
‐12,0%
‐12,6%
100,0%
3,5%
40,2%
3,8%
59,8%
3,4%
17,9%
‐15,1%
20,3%
‐16,2%
16,8%
69,7%
12
Yearly Performance YTD
4.500
25%
Consolidated
4.000
1.800
19%
18%
3.500
20%
15%
2.500
4.221
3.775
10%
5%
500
760
25%
1.200
20%
800
1.681
15%
1.540
0%
FY14
1.000
40%
35%
30%
700
22%
25%
500
20%
867
799
20%
15%
300
10%
200
189
162
‐
5%
0%
FY14
FY15
436
401
‐
2.000
1.900
1.800
1.700
1.600
1.500
1.400
1.300
1.200
1.100
1.000
900
800
700
600
500
400
300
200
100
‐
Revenue
FY15
Gross Profit
Uneliminated
30%
Subsidiaries
25%
20%
1.660
1.848
15%
14%
10%
11%
5%
205
232
0%
FY14
Uneliminated
5%
0%
FY14
800
100
400
FY15
Seismic Services
900
10%
200
719
‐
IDR bn
26%
26%
600
1.000
400
30%
1.600
1.000
1.500
600
35%
Oilfield & Drilling Sevices
1.400
3.000
2.000
2.000
Gross Margin
FY15
Uneliminated
13
Quarterly Performance
Consolidated
1.400
24%
1.200
1.156
30%
700
25%
600
45%
Oilfield & Drilling Services
40%
35%
1.000
20%
500
28%
400
800
25%
364
15%
20%
300
600
10%
400
278
200
5%
‐
0%
Sep 14
490
Dec 14
Mar 15
Jun 15
Sep 15
Seismic Services
390
101
100
30%
10%
5%
‐
0%
Sep 14
35%
409
15%
200
Dec 15
30%
Dec 14
700
Mar 15
Jun 15
Sep 15
Dec 15
25%
Subsidiaries
600
20%
30%
25%
500
449 17%
20%
290
15%
400
15%
190
90
124
10%
300
5%
200
0%
‐5%
‐10%
(10)
Sep 14
IDR bn
Dec 14
Mar 15
Jun 15
Sep 15
Dec 15
Revenue
10%
76
100
‐
5%
0%
Sep 14
Gross Profit
Dec 14
Mar 15
Jun 15
Gross Margin
Sep 15
Dec 15
14
Oilfield & Drilling by Services
Revenue & Growth
Drilling
Electric Wireline Logging
544
Hydraulic Workover
326
291
409
243
‐16%
214
‐25%
FY14
52%
FY15
FY14
FY15
Snubbing
108
150
‐15%
114
95
‐68%
FY14
FY14
Drilling Fluid
Coiled Tubing Unit
174
FY15
FY15
FY14
‐5%
30
FY15
FY14
FY15
IDR bn
15
Oilfield & Drilling by Services
Revenue & Growth
Well Testing
Operation Maintenance
Slickline
110
57
31%
3%
84
FY14
FY15
FY14
Cementing & Pumping
35
‐34%
70
58
40
FY15
FY14
75%
FY15
Drilling Evaluation
33
23
‐66%
11
FY14
FY15
FY14
FY15
IDR bn
16
Seismic Services
Revenue & Growth
Seismic Land
731
4%
703
FY14
Seismic Marine
FY15
Geodata Processing
83
81
‐100%
‐18%
69
0
FY14
FY15
FY14
FY15
17
Subsidiaries Performance
Elnusa Petrofin
1.587
‐18%
1.307
FY14
Sigma Cipta Utama
64
62
FY15
Patra Nusa Data
FY14
133%
97
‐3%
‐25%
FY15
FY14
Elnusa Fabrikasi Konstruksi
131
73
56
FY15
FY14
FY15
IDR bn
Revenue
18
Contract Replacement Profile
Contract per FY15 and Forward
USD jt
SEGMENT
CARRIED OVER
A
NEW CONTRACT
B
TOTAL CONTRACT
A+B
VALUE 2015 (Exp)
C
VALUE ONWARD
A+B‐C
Oilfield & Drilling
Seismic
TOTAL
230
28
258
102
94
196
332
122
454
115
58
173
217
64
281
19
Capex
A = New Investments
750
B = Replacements
A = 227
B = 262
500
250
A = 324
B = 167
A = 337
B = 30
489
A = 26
B = 104
491
A = 51
B = 59
130
110
2012
2013
366
0
IDR bn
2011
2014
2015
Area of Investment (Oilfield & Drilling Services & Seismic) :
Electric Wireline Unit
Portable Slickline Unit
Geophones
Coiled Tubing Unit
Barges
Modular Rig
20
Thank You
DISCLAIMER :
The information in this document has not been independently verified. No representation or warranty expressed or implied is made as to, and no reliance
should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. None of PT Elnusa Tbk (the
“Company“), nor any of its affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss whatsoever
arising from the use of this document or its contents or otherwise arising in connection with this document.
This document is being furnished to you solely for your information on a confidential basis and may not be reproduced, redistributed or passed on, in whole
or in part, to any other person. Any failure to comply with these restrictions may constitute a violation of the laws of any such other jurisdiction. By
accepting this document you agree to be bound by the foregoing limitations.
This document does not constitute or form part of an offer or invitation to purchase any shares in the Company and neither shall any part of it form the
basis of nor be relied upon in connection with any contract or commitment whatsoever. Any decision to purchase shares should be made solely on the basis
of information contained in the prospectus.
PT Elnusa Tbk.
Graha Elnusa
Jl. T.B. Simatupang Kav. 1B
Jakarta 12560, Indonesia
Tel: +62 21‐78830850
Fax: +62 21‐78830907
www.elnusa.co.id
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