Operations Highlights

PT Petrosea Tbk
Analyst Presentation
Operations Highlights
July 2011
December 2011
Attractive and Visible Growth Supported by a Robust
Contract Backlog
Strong Growth in Backlog Over Time
(US$m)
1,352
Pre-Indika Post-Indika
672
459
739
383
192
2006A
2007A
E&C / POSB / Other
1
2008A
Bayan
2009A
Kideco
2010A
Santan Batubara
Sep 2011A
ABN
Ownership of a High Quality Coal Asset—
Santan Batubara
Asset Overview
Production Volume
Sales Volume
Average Selling Price
(mt)
(mt)
(US$ / t)
283.7 mt
Santan
Batubara
47.9 mt
Reserves
Resources
Balikpapan
1.6
CV (gar)
5,500
CV (adb)
5,800
Sulphur Content
0.6%
Ash Content
4–8%
Royalty
13.5%
Corporate Tax
Pit-to-Port Distance
1.2
1.1
9m '10 9m '11
'09A
'09A
'10A 9m '10 9m '11
Cash Cost
Strip Ratio
(US$ / t, excluding royalty)
(x)
'10A 9m '10 9m '11
61.9
42.6
45.8
43.2
~35 km
12.1
12.6
9.9
'09A
'10A
9m '10 9m '11
'09A
71.1
49.1
9.0
25%
Santan Batubara Production Volume for FY 2011 is 1.7 million ton
Santan Batubara Sales Volume for FY 2011 is 1.7 million ton
Santan Batubara Average Selling Price, Cash Cost and Strip Ratio for
FY 2011 are subject to finalization of the audited Financial Statements
2
'10A
74.1
1.6
1.3
1.3
'09A
92.2
2.1
2.0
Samarinda
'10A 9m '10 9m '11
Attractive and Visible Growth Supported by Capacity
Expansion
Dump Trucks
Excavators
Bulldozers
Graders
(1) One fleet typically consists of 1 excavator, 5-8 dump trucks and other auxiliary equipment. Represents 250t equivalent fleet
(2) Represents actual volume removed during the period
(3) Represents 12 months capacity
2011 Monthly Overburden Removal
Annual Overburden Volumes
(mbcm)
(mbcm)
116
8
7
8
Jan
Feb
Mar
9
10
10
11
10
10
Apr
May
Jun
Jul
Aug
Sep
12
Oct
72
10
11
Nov
Dec
81
53
FY '08A FY '09A FY '10A FY '11A
3
Petrosea Summary Financials
Revenue
Adjusted EBITDA and Margin
Net Income and Margin
(US$m)
(US$m)
(US$m)
Mining
Others
Mining
Others
206
61
172
100
187
185
29
14
35
65
41
63
33
36
44
136
26
28
25
22
157
170
25
26
36%
35%
32%
22%
34%
15%
21%
20%
3%
137
114
106
6
13%
’08A
'08A
’09A
'09A
’10A
'10A
9m
‘10 9m
‘11
9m '10
9m '11
’08A
'08A
’09A
'09A
’10A
'10A
9m
9m ‘10
'10 9m ‘11
'11
(1) Normalized for US$4m of provision for doubtful debts with respect to the PT Ilthabi Bara Utama contract.
(2) Normalized for US$25m of provision for doubtful debts with respect to the PT Ilthabi Bara Utama contract.
(3) Normalized for US$1.4m of recovery relating to the reversal of a provision for Petrosea’s portion of Santan Batubara’s accumulated
losses as at the end of 2009 and US$0.3m of provision for doubtful debts.
(4) Normalized for US$1.4m of recovery relating to the reversal of a provision for Petrosea’s portion of Santan Batubara’s accumulated
losses as at the end of 2009 and US$0.5m of provision for doubtful debts.
(5) Normalized for US$3.1m increase in depreciation expense due to a change in depreciation method from an hourly utilization basis
through 2010 to a straight-line method in 2011.
Note: adjusted EBITDA is calculated as operating income plus depreciation. Petrosea did not record any amortization in the shown periods.
4
(1)
’08A
'08A
’09A(2)
'09A
’10A
'10A(3)
(4)
9m '10
‘10 9m
9m '11
‘11
’11(5)
Santan Batubara – Key Financial Highlights
Revenue
Adjusted EBITDA and Margin
Net Income and Margin
(US$m)
(US$m)
(US$m)
153
44
41
34
113
113
30
29
23
29%
18
20%
55
2%
2%
30%
25%
1%
21%
16%
9m '10
9m '11
1
1
'09A
5
'10A
9m '10
9m '11
'09A
'10A
9m '10
9m '11
'09A
'10A
Growth Strategy - Continued Focus on Mining
9M 2008A Revenue
Segmentation
9M 2011A Revenue
Segmentation
POSB
7%
E&C
6%
POSB
8%
Mining
49%
US$206m
US$162m
US$185m
E&C
43%
Mining
87%
6
Health and Safety
US$206m
Um
LTIR: Lost Time Injury Rate
TRIR: Total Recordable Injury Rate
7
US$185m
Thank You
8