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MANAGEMENT PRESENTATION
PT Adhi Karya (Persero) Tbk.
Jakarta
September 2015
1
MILESTONE
1960
1974
2004
PN Adhi Karya
nationalized
from Dutch
Company
Associate N.V.
PN Adhi Karya
changed to
PT Adhi Karya
(Persero)
 Go Public 18
March 2004
 ADHI, first SOE
Construction to
be listed in IDX
PT Adhi Karya
(Persero)
2015
2014
Subsidiaries Establishment
Acquire the approval for
Government additional equity
injection (PMN)
July 2011
TRANSFORMATION OF ADHI:
• Changing Vision & Mission
• RJPP 2012-2016, 5 Lines of Business [CONSTRUCTION, EPC,
PROPERTY, REALTY, INVESTMENT INFRASTRUCTURE]
• Organization Restructure
• Establishment of ADHI Learning Center
• Corporate Value:
• Work Smart
Corporate Culture
• Responsible Honesty
• Modest
2013
MoU (Consortium
Transportasi Massal BUMN)
Grandhika Blok M
Hotel
2012
Precast Factory
Subsidiaries Establishment
2
LINE OF BUSINESS
CONSTRUCTION
Building
Airport
Seaport
Road & Bridges
Watery Works
Railway
EPC
Power Plant
Industry
Oil & Gas
PROPERTY &
REALTY
Apartment
Offices
Condotel
HOTEL
Grandhika Hotel
Hotel Division
PT APG
PMU Power 1, Oil&Gas
PT APP
Construction Division
1 -7
PMU Power 2, IPP
Divison
Property TOD
INVESTMENT
Precast Concrete
Transportation
IPP
PT APB
LRT Division
PMU RFCC
SPC IPP
3
Operational Performance
ORDER BOOK
TENDER RATE
60,000
50,000
28%
21% 32,634 33,391 17%
20,000
10,000
45,841 25%
40,000
30,000
33%
47,921 46,782 35%
8,132 30%
25%
20%
15%
11,927 9,604 10,854 9,218 10%
5%
0%
‐
2010
2011
Tender Bid (IDR)
2012
Tender Won (IDR)
2013
2014
Competitive Rate (%)
60.00%
25,000
20,000
46.15%
41.18%
15,000
35.49%
48.18%
50.00%
40.00%
37.79%
9,604 30.00%
10,854 9,218 10,000
8,132 11,927 5,000
5,648 6,940 20.00%
10,580 10,380 8,745 ‐
10.00%
0.00%
2010
2011
2012
Carry Over
New Contract
2013
2014
Sales per Order Book Ratio
Realisasi s.d. Agustus 2015
SUMBER DANA
JENIS PEKERJAAN
Gedung
60%
Jalan & Jembatan
28%
Infrastruktur Lainnya
9%
Total Tender yang diikuti
Hit Rate
Tender Sudah Kontrak
Penetapan Pemenang
Tender Terendah
Jumlah
: 38.255 M
: 28.0%
: 7.863 M
: 1.524 M
: 1.290 M
: 10.678 M
APBD
19%
APBN
25%
BUMN
13%
Swasta/Lainnya
43%
Dermaga
3%
4
Financial Summary
Revenue
Gross Profit and Gross Profit Margin
In billion IDR
12.52%
In billion IDR
12,000
1,800
9,799 10,000
8,653 7,628 8,000
6,000
6,695 5,675 10.97% 12.53%
12.18%
11.54%
10.12%
1,600
16.00%
1,400
14.00%
1,200
12.00%
1,000
10.00%
800
4,000
3,212 8.00%
600
400
2,000
1,193 955 710 6.00%
998 4.00%
734 200
325 ‐
‐
2010
2011
2012
2013
2014
2.00%
0.00%
2010
Jun‐15
2011
2012
2013
2014
Jun‐15
Net Income and Net Profit Margin
EBITDA and EBITDA Margin
In billion IDR
9.92%
1400
18.00%
In billion IDR
8.39%
10.46%
9.50%
7.83%
5.92%
14.00%
6.00%
600
3.33%
2.72%
2.78%
4.14%
3.80%
2.19%
1200
12.00%
500
5.00%
1000
10.00%
400
4.00%
800
8.00%
300
3.00%
6.00%
600
400
200
798
563
2.00%
190
0.00%
0
2010
2011
2012
2013
2014
Jun‐15
2.00%
329
4.00%
678
562
406
200
931
100
189
182
212
1.00%
70
0.00%
0
2010
2011
2012
2013
2014
Jun‐15
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TOTAL ASSETS, LIABILITY & EQUITY
14,000
12,000
Total
Assets
10,000
Total
Assets
Total
Assets
8,000
6,000
4,000
Total
Assets
6,113
4,928
990 7,872
Total
Assets
10,459
9,721
Total
Assets
11,609
1,615 1,641 1,460 1,077 9,994 868 8,261 8,818 6,795 2,000
4,060 5,123 ‐
2010
2011
2012
Total Liability
2013
2014
Jun‐15
Total Equity
6
Indicative Offering Structure – Rights Issue
Key indicative terms
Issuer

PT Adhi Karya (Persero) Tbk. (“ADHI”)
Entitlement ratio

Renounceable 100,920 rights shares for every 100,000 existing share
Number of rights shares to be issued

1,143,757,141 to 1,817,892,144 shares or 38.8% ‐ 50.2% of enlarged capital
Rights price range

IDR1,510 – IDR2,400 per share 
Up to IDR2.745 trn (c,US$225 m)
• Republic of Indonesia portion • Public portion
Rights offer size
: IDR1.400 trillion
: IDR1.345 trillion 
OJK Registered format with :
• Republic of Indonesia undertaking to fully subscribe for its pro rate stake of 51.0% ownership
• Joint Lead Managers to act as standby purchasers for unsubscribed rights

Republic of Indonesia (51.0% of the rights shares)
Joint Lead Managers & Standby Purchasers

PT Bahana Securities, PT Danareksa Sekuritas, PT Mandiri Sekuritas (for the remaining 49.0% rights shares)
Use of proceeds

Railway based mass transportation project (LRT) including its stations and property projects
Offering Format
Undertaking shareholder
7
Indicative Timetable
Rights Issue Pricing date

14 September 2015
ADHI’s EGMS date

22 September 2015
Cum date (Regular & Negotiation Market)

30 September 2015
Recording date

05 October 2015
Listing date

07 October 2015
Trading of rights date

13 – 16 October 2015
Allocation date

19 October 2015
Settlement of excess rights (rump) shares

26 October 2015
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THE INNER CITY
TRANSPORTATION
LIGHT RAIL TRANSIT INDONESIA
Tr a n s p o r t a s i M a s s a l B e r b a s i s Re l J a b o d e t a b e k
9
Landasan Hukum
Peraturan Presiden Nomor 98 tanggal 2 September 2015
TENTANG :
PERCEPATAN PENYELENGGARAAN KERETA API RINGAN/ LIGHT RAIL TRANSIT TERINTEGRASI DI WILAYAH
JAKARTA, BOGOR, DEPOK, DAN BEKASI
Pemerintah menugaskan ADHI untuk membangun PRASARANA Kereta Api Ringan/ LRT terintegrasi untuk lintas
pelayanan :
• Cawang – Cibubur
• Cawang – Kuningan – Dukuh Atas
• Cawang – Bekasi Timur
• Dukuh Atas – Palmerah – Senayan
• Cibubur – Bogor
• Palmerah – Grogol
• Lintas Pelayanan lainnya yang ditetapkan dengan Peraturan Menteri Perhubungan
Scope Pekerjaan PRASARANA meliputi :
• Jalur, termasuk konstruksi layang
• Stasiun
• Fasilitas operasi
10
Peta Lintas Pelayanan LRT
KABUPATEN TANGERANG
PROVINSI DKI JAKARTA
KABUPATEN BEKASI
KOTA TANGERANG
KOTA BEKASI
KOTA
TANGERANG
SELATAN
Sta. Taman Mini
Sta. Kp. Rambutan
Sta. Ciracas
Sta. Cibubur
KOTA DEPOK
Sta. Cibinong
KABUPATEN BOGOR
Sta. Sentul Sirkuit
KOTA BOGOR
Sta. Sentul City
Sta. Baranangsiang
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KAPASITAS DAN WAKTU TEMPUH LIGHT RAIL TRANSIT (LRT)
CibuburCawang
Panjang (km)
Dukuh AtasCawangCawangPalmerahDukuh Atas Bekasi Timur
Senayan
CibuburBogor
PalmerahBogor
13.7
10.5
17.9
5.5
30.5
5.5
12,000 24,000 12,000 24,000 24,000 24,000 Waktu Tempuh (menit)
21
18
27
12
37
12
Jumlah Stasiun
5
7
5
3
4
5
PPHPD (Passenger per Hour per Direction)
12
PT Adhi Karya (Persero) Tbk.
THANK YOU
Visit us at www.adhi.co.id
For further information please contact:
Ki Syahgolang Permata, Corporate Secretary
P. +62 21 797 5312 F. +62 21 797 5311 E. [email protected]
Disclaimer:
Important Notice
 This document was prepared solely and exclusively for the parties presently being invited for the purpose of discussion. Neither this document nor
any of its content may be reproduced, disclosed or used without the prior written consent of PT Adhi Karya (Persero) Tbk.
 This document may contain statements that convey future oriented expectations which represent the Company’s present views on the probable
future events and financial plans. Such views are presented on the basis of current assumptions, are exposed to various risks and are subject to
considerable changes at any time. Presented assumptions are presumed correct, and based on the data available on the date, which this
document is assembled. The company warrants no assurance that such outlook will, in part of as a whole, eventually be materialized. Actual
results may diverge significantly from those projected. The information in this document is subject to change without notice, its accuracy is not
verified or guaranteed, it may be incomplete or condensed and it may not contain all material information concerning the Company.
 None of the Company, PT Adhi Karya (Persero) Tbk. or any person connected with any of them accepts any liability whatsoever for any loss
howsoever arising from any use of this document or its contents or otherwise arising in connection therewith.
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