2016 public expose
0 likes374 views
This document provides an overview of Eagle High Plantations (EHP) for 2016. It discusses that EHP has a new name, logo, management, vision, and values. It notes that EHP's landbank is large and young, with the average age being 6.4 years old. It also states that EHP has the capacity to grow its production to 2.3 million tons per year by 2017. However, it acknowledges EHP experienced net losses in 2015 and 1Q2016. Nonetheless, it provides five reasons to be positive about EHP's future: 1) its large, young landbank means production will increase, 2) focusing on cash flow by slowing new planting, 3) balance sheet consolidation through debt
2016 public expose
- 1. EHPT 2016 Public Expose Sampoerna Strategic Square – Jakarta, 16 June 2016 1
- 3. New Name & Logo 3
- 5. 5 New Vision & Mission New Purpose
- 6. 6 New core values New Purpose
- 7. 7 New beginning In New office
- 8. We are big, young & ready to grow 8
- 9. Big, >150k Ha 0 Ha 4k Ha Prime 8k Ha Young Immature 49k Ha 61k Ha 29k Ha 0 Ha 1k Ha 1k Ha Prime Young Immature Immature Young Prime 9 As at end December 2015
- 10. Young, average age 6.4 years Prime Young & immature 32% 68% 10 >8yrs <8yrs As at end December 2015
- 11. Ready to grow, 2.3 million ton/year EHP total mill capacity, tons per hour 2011 2013 2015 2017f 475 385 265 175 2.3 million ton / year = 11 As at end December 2015
- 12. EHP total mill capacity, tons per hour 2011 2013 2015 2017f 475 385 265 175 2.8 Million ton / year = 12 Ready to grow, 2.8 million ton/year
- 13. The less good news 13
- 14. 2015, 1Q 2016 net loss Income Statement In Rp m 2015 1Q 2016 Revenue 2,674,271 620,332 Gross profit 573,771 106,310 Operating profit 233,977 18,772 EBIT 238,175 88,199 EBT (203,622) (78,236) Net profit (181,400) (67,560) EBITDA 752,317 146,772 Gross margin % 21% 17% Operating profit margin % 9% 3% EBIT margin % 9% 14% EBT margin % (8%) (13%) Net profit margin % (7%) (11%) EBITDA margin 28% 24% 14 I
- 15. BWPT shares follow EBITDA 15
- 16. 0 60 120 180 240 0 125 250 375 500 2015 2Q 3Q 4Q 1Q2016 BWPT Share Price EBITDA 16 BWPT shares follow EBITDA
- 19. It's not surprising ... 19
- 20. Entering Prime age 8 Prime age Average age Years 20 As at end December 2015
- 21. High investment, high interest PT Eagle High Plantations Tbk Des 31, 2015 Mar 31, 2016 Assets Total Current Assets 2,796,883 1,604,370 Total Noncurrent Assets 14,861,954 14,831,676 Total assets 17,658,837 16,436,046 Liabilities Total Current Liabilities 3,955,212 2,337,097 Total Noncurrent Liabilities 7,050,710 7,514,197 Total Liabilities 11,005,922 9,851,294 Total Equity 6,652,915 6,584,752 TOTAL LIABILITIES AND EQUITY 17,658,837 16,436,046 Total Debt 7,782,513 8,105,648 21 I
- 22. 5 Reasons to be positive 5 Reasons to be positive 22
- 23. big, young and ready to grow = Production ⬆ 1 23 5 Reasons to be positive
- 24. Fruit Production, 15% growth trend ⬆ 20,000 55,000 90,000 125,000 160,000 2011 1Q2016 Monthly Production Total fruit production & growth trend CAGR=15% 1 24
- 25. 💦 mm & fruit tons (right axis) 20,000 55,000 90,000 125,000 160,000 0 100 200 300 400 2011 1Q2016 Monthly Rainfall Monthly Production 1 25 Fruit Production, El Nino
- 26. 💦 mm & fruit tons (right axis) 20,000 55,000 90,000 125,000 160,000 0 100 200 300 400 2011 1Q2016 Monthly Rainfall Monthly Production 1 26 Fruit Production, La Nina
- 27. 💦 mm & fruit tons (right axis) 20,000 55,000 90,000 125,000 160,000 0 100 200 300 400 2011 1Q2016 Monthly Rainfall Monthly Production 1 27 Fruit Production, La Nina CAGR=15%
- 28. Focus on Cash Flow 2 28 5 Reasons to be positive
- 29. Slowing down planting, ⬆ Cash flow & ♻ EHP New Planting Hectares 0 5,000 10,000 15,000 20,000 2011 2012 2013 2014 2015 2 29
- 30. Slowing down planting, ⬆ Cash flow & ♻2 30 ❤♻ Sustainability
- 31. Balance sheet consolidation 3 31 5 Reasons to be positive
- 32. PT Eagle High Plantations Tbk Des 31, 2015 Mar 31, 2016 Assets Total Current Assets Total Noncurrent Assets Total assets 17,658,837 Liabilities Total Current Liabilities 3,955,212 Total Noncurrent Liabilities Total Liabilities 11,005,922 Total Equity TOTAL LIABILITIES AND EQUITY Total Debt Balance sheet consolidation 32
- 33. Balance sheet consolidation 33 PT Eagle High Plantations Tbk Des 31, 2015 Mar 31, 2016 Assets Total Current Assets Total Noncurrent Assets Total assets 17,658,837 16,436,046 Liabilities Total Current Liabilities 3,955,212 2,337,097 Total Noncurrent Liabilities Total Liabilities 11,005,922 9,851,294 Total Equity TOTAL LIABILITIES AND EQUITY Total Debt
- 34. Balance sheet consolidation Total Liabilities & Noncurrent Liabilities Rp tn Des 2014 Mar 2015 Jun 2015 Sep 2015 Des 2015 Mar 2016 9.9 11.0 10.0 9.79.69.4 2.3 4.0 3.53.23.33.1 Total Noncurrent Liabilities Total Liabilities 3 34
- 35. CPO & Kernel price is positive 4 5 Reasons to be positive 35
- 36. Price Recovery4 36 EHP quarterly selling price, in Rp million 0.0 2.3 4.5 6.8 9.0 2015 2Q 3Q 4Q 1Q2016 cpo Kernel
- 37. 0.0 2.3 4.5 6.8 9.0 2015 2Q 3Q 4Q 1Q2016 CPO Kernel EHP quarterly selling price, in Rp million Current market price 4 37 Price Recovery
- 38. BWPT price is positive too 5 38 5 Reasons to be positive
- 39. 5 % change from end December 2015 39 BWPT number 1 -40% -20% 0% 20% 40% 60% 80% 77% 50% 21%20%19%18% 9%7%7% 4%2%0% -7% -11%-13% -24% -35% Share price change YTD Other plantation stocks BWPT
- 40. 0 60 120 180 240 0 125 250 375 500 2015 2Q 3Q 4Q 2016 2Q 3Q 4Q BWPT Share Price EBITDA BWPT shares follow EBITDA Production ⬆ Price ⬆ Balance Sheet ⬆ 5 40
- 41. Thank you 41 Please follow us on : IG : @ehplantationsir Twitter : @ehplantationsir slideshare.net/ehplantationsir