UNDUH Bisnis Update 1H21
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PT ASTRA INTERNATIONAL TBK FIRST HALF OF 2021- Results Presentation Disclaimer The materials in this presentation have been prepared by PT Astra International Tbk (Astra) and are general background information about Astra group (the Group) business performances current as at the date of this presentation and are subject to change without prior notice. This information is given in summary form and does not purport to be complete. Information in this presentation, including forecast financial information, should not be considered as advice or a recommendation to investors or potential investors in relation to holding, purchasing or selling securities or other financial products or instruments and does not take into account their particular investment objectives, financial situation or needs. Before acting on any information, readers should consider the appropriateness of the information having regard to these matters, any relevant offer document and in particular, readers should seek independent financial advice. This presentation may contain forward looking statements including statements regarding our intent, belief or current expectations with respect to Astra businesses and operations, market conditions, results of operation and financial condition, capital adequacy, specific provisions and risk management practices. Readers are cautioned not to place undue reliance on these forward-looking statements; past performance is not a reliable indication of future performance. Astra does not undertake any obligation to publicly release the result of any revisions to these forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events. We disclaim any responsibility or liability whatsoever arising which may be brought or suffered by any person as a result of acting in reliance upon the whole or any part of the contents of this report and neither Astra and/or its affiliated companies and/or their respective employees and/or agents accepts liability for any errors, omissions, negligent or otherwise, in this report and any inaccuracy herein or omission here from which might otherwise arise. 2 Highlights Net earnings per share Rp218 Businesses of the 50% Group benefited from Strong balance sheet 61% higher commodity and funding position 29% prices (before gain on sale of investment in Permata Bank) of the businesses of the Group improved in the first half of 2021, compared with the same period in 2020, when the Group experienced significant COVID-19 pandemic-related business restrictions in the second quarter of 2020. Although business conditions have improved, the Group's performance for the remainder of the year remains challenging, given that business performance and consumer confidence will still be impacted by the worsening COVID-19 pandemic situation lately in Indonesia. The balance sheet and funding position remain strong. Ensuring the health and safety of our employees amid the deepening COVID-19 pandemic continues to be the top priority. The greatest strength is our employees. The efforts that all our employees have taken in responding to the challenges faced have contributed to the resilience during these difficult times. Djony Bunarto Tjondro President Director 3 Astra Group Results In Billion Rupiah For the period ended 30th June 2021 2020 Change (%) Net revenue 107,395 89,795 20 Net income (before gain on sale of investment in Permata Bank) 8,831 5,497 61 Net income 8,831 11,378 (22) Net earnings per share (before gain on sale of investment in Permata Bank) full rupiah 218 137 61 Net earnings per share full rupiah 218 281 (22) As at 30th June 2021 As at 31st December 2020 Change (%) Shareholders' funds 162,437 155,662 4 Net asset value per share full rupiah 4,012 3,845 4 The financial results for the six months ended 30th June 2021 and 2020, as well as the financial position as at 30th June 2021, have been prepared in accordance with Indonesian Financial Accounting Standards and are unaudited. The financial position as at 31st December 2020 has been prepared in accordance with Indonesian Financial Accounting Standards and audited in accordance with the auditing standards established by the Indonesian Institute of Certified Public Accountants. 4 Business Structure Automobile Financing Automobile • Astra Credit Companies Construction Machinery Palm Oil Plantation Toll Road Infrastructure Document Solution Investment Properties • Toyota • Toyota Astra Financial Services • United Tractors • Astra Agro Lestari • Marga Mandalasakti • Astra Graphia • Menara Astra • Lexus • Traktor Nusantara • Marga Trans Nusantara • Samadista Karya • Daihatsu Motorcycle Financing Refineries • Marga Lingkar Jakarta IT Solution • Astra Astari Sejahtera • Isuzu • Federal International Finance Mining Contracting • Tanjung Sarana Lestari • Lintas Marga Sedaya • Astra Graphia • Astari Marga Sarana • BMW • Pamapersada Nusantara • Kreasijaya Adhikarya • Trans Marga Jateng Information Technology • Peugeot Mobile Lending Fintech • Marga Harjaya Infrastruktur Strata Development • UD Trucks • Astra WeLab Digital Arta Mining Commodity Trading • Jasamarga Surabaya Mojokerto Office Services Solution • Brahmayasa Bahtera • Tuah Turangga Agung • Astra-KLK Pte.Ltd • Astragraphia Xprins • Astra Land Indonesia Motorcycle Heavy Equipment Financing • Agincourt Resources Infrastructure Solutions Indonesia • Astra Modern Land • Honda • Surya Artha Nusantara Finance • Astra Infra Solutions • Award Global Infinity • Komatsu Astra Finance Construction Industry Component • Acset Indonusa Logistics Infrastructure • Astra Otoparts General Insurance • Pelabuhan Penajam Banua Taka • Asuransi Astra Buana Energy Other Automotive • Bhumi Jati Power Logistics Related Product & Service Life Insurance • Serasi Autoraya • AstraWorld • Asuransi Jiwa Astra • Solusi Mobilitas Bangsa • Astra Digital Internasional 5 Astra Market Position as of 30th June 2021 Car Motorcycle Heavy Equipment 53% 77% 22% 1H21 1H21 1H21 1H20 : 53% 1H20 : 77% 1H20: 33%* *Exclude Chinese brands Brand Market Share Brand Market Share Brand Market Share Toyota* 31% 1H21 Honda 77% Komatsu 22% 1H21 Daihatsu 19% Others 23% Sany 26% Isuzu 3% Source : Ministry of Industry Hitachi 15% 1H21 Others 47% Caterpillar 10% Source : Gaikindo Kobelco 9% *Include Lexus Sumitomo 6% Others 12% Source: United Tractors Internal Market Research 6 Corporate Actions The Group invested around USD5 million in Sayurbox, an e-commerce grocery farm-to-table platform and distributor of fresh goods. The Group invested around USD35 million in Halodoc, a healthcare-based technology platform. The Group acquired an additional 14% stake in Marga Lingkar Jakarta, raising its ownership to 49%. Marga Lingkar Jakarta is the operator of the 7.7km Kebon Jeruk-Ulujami toll road, part of the Jakarta Outer Ring Road I. 7 Financial Performance 8 Consolidated Profit and Loss Account In Billion Rupiah 1H21 1H20 Change (%) USD / IDR, average (full Rupiah) 14,360 14,743 (3) Net revenue 107,395 89,795 20 Gross profit 22,836 20,174 13 Selling, general and administrative expenses (11,908) (12,364) (4) Finance income / (costs) net 129 (854) N/A Foreign exchange losses net (23) (171) (87) Other income net 188 1,153 (84) Gain on sale of investment in Permata Bank - 5,881 N/A Share of results of joint ventures and associates 2,769 1,167 137 Income tax expenses (2,848) (1,849) 54 Non-controlling interests (2,312) (1,759) 31 Net income (before gain on sale of investment in Permata Bank) 8,831 5,497 61 Net income 8,831 11,378 (22) 9 Divisional Net Revenue and Net Income Divisional Net Revenue (Rp bn) 107,395 89,795 20% 40% 36% Automotive Automotive 11% 12% 35% 37% Financial Services Financial Services 10% 10% 4% 5% 44% 46% Heavy Equipment, Mining, Construction and Energy 1H21 1H20 Heavy Equipment, Mining, Construction & Divisional Net Income (Rp bn) Energy Agribusiness 8% 8,831 9% 5,497**Agribusiness Others (Infrastructure & Logistics, Information Technology 35% 31% and Property) 38% 8% 9% Others (Infrastructure & Logistics, IT and 5% 5% 61% 13% 24% Property) 2018 2017 38% 30% 43% 8%* 6%* 1H21 1H20 *Total Agribusiness & Others ** Before the gain on sale of investment in Permata Bank 10 Consolidated Statement of Financial Position • The net asset value per share at 30th June 2021 was Rp4,012, 4% higher than at 31st December 2020. • Net cash, excluding the financial services subsidiaries, was Rp20.5 trillion at 30th June 2021, compared with Rp7.3 trillion at the end of 2020. The net debt of the financial services subsidiaries increased from Rp39.2 trillion at the end of 2020 to Rp41.2 trillion at 30th June 2021. In Billion Rupiah 30-Jun-21 31-Dec-20 Change (%) Cash and cash equivalents 58,165 47,553 22 Trade receivables 20,776 17,144 21 Financing receivables 65,651 62,546 5 Inventories 21,312 21,634 (1) Investment in joint ventures and associates 34,153 33,483 2 Fixed assets 56,853 59,230 (4) Other assets 97,563 96,613 1 Total assets 354,473 338,203 5 Short-term borrowings 7,884 6,500 21 Trade payables 20,647 16,529 25 Long-term debt 70,898 72,981 (3) Other liabilities 50,773 46,739 9 Total liabilities 150,202 142,749 5 Equity attributable to the owners of the parent 162,437 155,662 4 Non-controlling interests 41,834 39,792 5 Total equity 204,271 195,454 5 Net debt (20,617) (31,928) (35) Net cash (excl. financial services) 20,537 7,318 181 11 Consolidated Statement of Cash Flow As at 30th June 2021, consolidated closing cash balance was Rp58.2 trillion. In Billion Rupiah 1H21 1H20 Change Cash generated