PT Elnusa Tbk

Public Expose 2016

25 November 2016

www.elnusa.co.id
Agenda

COMPANY
PROFILE

FINANCIAL
PERFORMANCE

STRATEGY &
DEVELOPMENT

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COMPANY
PROFILE
Company Milestones

1971-1987 2009 2013 - 2014 2016 - 2017

1969 2008 2011 - 2012 2014 - 2015

Establishment IPO Elnusa The dawn of
7.298.500.000 Turnaround low oil price
shares Program impacted to
industry

Entered seismic business, oilfied Non core divestment of Revitalizing Human

services, data management and PT Infomedia Resources
fuel trading business Nusantara

Vanquishing
Challenges through
Ingenious
Improvements
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Elnusa Total Solution Services

Vision : Reputable Energy Services Company through Total Solution

Development Operation & Processing Logistic &
Exploration
& Installation Abandonment & Refinery & Refinery

Seismic Maintenance
Onshore

Drilling Services

Well Services
Offshore

Seismic

Well Services

Support Equipment Fabrication Fleet & Depo

Management
Equipment / Support

OCTG Trading & Threading

Support Vessel

Chemical

Trunking

Data Management
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Shareholder & Management Structure

ELNUSA as operating Holding

PERTAMINA as controlling
Company : Seismic & Oilfield
shareholder & major client
Services

Oil & Gas Support Services

PT PERTAMINA Integrated Upstream
Oil & Gas Services
(PERSERO) PT Elnusa Fabrikasi Konstruksi 97,3%
41,1% PT Elnusa Oilfield Services 99,9%

PT Patra Nusa Data 70,0%

PT Elnusa Geosains Services 99,9%

DANA PENSIUN
PT Sigma Cipta Utama 99,9%
PERTAMINA
14,9%
PT Elnusa Trans Samudera 99,9%
20.6%

41.9%
Individu
Domestik Logistic & Distribution
PUBLIC
Services
44,0% Badan Usaha
Domestik PT Elnusa Petrofin 99,9%
37.5%
Asing

PT Elnusa Patra Ritel 99,9%

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COMPANY
PERFORMANCE
Financial Highlights 9M

INCOME STATEMENT 9M15 9M16 % Change

Revenue 2.619 100% 2.524 100% (3.7%)

Cost of Revenue 2.178 83% 2.094 80% (3.9%)
Gross Profit 441 17% 430 16% (2.6%)
Operating Profit 247 9% 281 11% 13.6%
EBITDA 447 17% 505 19% 13.1%
Net Profit 226 9% 178 7% (21.4%)
IDR Bn

Revenue down 3.7% due to impact of slow activities in oil & gas especially to our
drilling services business.
We succesfully managed our cost and efficiency which reflected to the growth of
our operating profit and EBITDA.
Aside of lower operational activities, net profit dropped 21.4% this September
was caused by forex loss of Rp22 bn compared to gain on forex of Rp68 bn last
year.

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Financial Highlights 9M

BALANCE SHEET 9M15 9M16 % Change

Cash & Equivalents 868 20% 670 16% (22.8%)

Account Receivables 785 18% 677 16% (13.8%)
Total Assets 4.099 100% 4.308 100% (4.9%)
Account Payables & Accruals 987 23% 808 19% (18.1%)
Short Term Bank Loan 299 7% 389 10% 30.2%
Long Term Bank Loan 375 9% 40 1% (89.2%)
Total Liabilities 1.785 45% 1.361 32% (23.8%)
Total Equity 2.523 59% 2.738 64% 8.5%

Account receivables declined 13.8% to Rp677 bn due to managements

policy to shorten collection days period.
Interest bearing debt dropped 30% to Rp430 bn due to loan payment
of around USD23 mn during period in order to optimize cash position
and reduce interest expenses and was impacted to total Liabilities
which declined 23.8% to Rp 1,785 bn.
Equity up 8.5% to Rp2,738 bn as the impact of improved retained
earnings.

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Segment Highlights
9M15 9M16

26%
DOS GSC EPN Others
19%
Drilling &
7% Oilfield -28%
1,176 852
Services
34%
18%
2016 10%

Revenue Seismic
Services 8%
43% Contrbution 390 421

16%
13%
17%
Transportation,
Logistic & 16%
Other Services 1,211 1,342

Revenue & Gross Margin IDR Bn

Drilling & Oilfield Services revenue declined 28% to Rp852 bn mostly caused by drilling business
contract termination, but on the other hand, we currently focus on operation maintenance
business to cover the slowdown in upstream industry.
Seismic Services up 8% to Rp421 bn as projects in Pertamina was performed satisfactory.
In Subsidiaries, revenue from transportation services increased 10% while another subsidiary
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(data management) experienced higher activities.
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ELSA Stock Performance

Volume Price

800
Rp 670
700 01/15 Rp 600
600 06/16 Rp 456
09/16
500
400
300
Rp 234
200 08/15 Rp 174
01/16
100
0
Jan- Feb- Mar- Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar- Apr- May- Jun- Jul- Aug- Sep-
15 15 15 15 15 15 15 15 15 15 15 15 16 16 16 16 16 16 16 16 16

Since mid 2015 ELSA stock performance tends to have correlation with
oil price sentiment.
During 2015 2016 September, highest price of ELSA was Rp670 and
lowest price was Rp174.
Up to September 2016, the average price was Rp392 and average
volume was 83mn. Market Cap was around Rp3.3 trillion.
This liquidity has brought ELSA to be included to LQ 45 index for the
period of August 2016 January 2017.
1111
Contract Profile

Drillling & Oilfield Seismic

In USD mn

76,8 387.9 171.9

311.1
216.0

Carry Over New Contract Total Contract 2016 Projection Carry Forward

Carry over contract from 2015 was USD 311,1 mn which consisted of USD 241,6mn from
Drilling & Oilfield and USD 69,5 from Seismic.
New contract up to September 2016 amounted to USD 76,8 mn which are USD 69mn of
Drilling & Oilfield and USD 7,8mn of Seismic.
Until end of Dec 2016 total project that is estimated to be realized will be about USD
171,9mn.
Total Carry forward contract will be around USD 216 mn.

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The Best Contractor in Delta Mahakam

ELNUSA Services in Delta Mahakam

Hydraulic Workover &

Work Barge
Snubbing

Coiled Tubing, Well Accommodation Work

For the third time, ELNUSA received The Mahakam Stimulation & Pumping Barge
Award & The Best Contractor for category of Safety
Performance of High Risk Contract > 400,000 Manhours
in TOTAL EP INDONESIEs HSE Communication Forum
2016.
ELNUSA has been operating in Delta Mahakam (for Total
EP Indonesie) for more than 30 years (since 1982).
Well Testing & Slickline Multi Purpose Barge

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STRATEGY &
DEVELOPMENT
Industry Update : Oil price is projected to recover gradually

Global oil crude market messages by IHS Market :

Dated brent expected to rise to an average of $52/bbl in 2017 as the impact of deep spending cuts
on production.
Annual world oil demand growth of just over 1 MMb/d is a critical assumption underpinning for
the market to stay more-or-less balanced through 2017.
There is upside potential to our supply outlook for some areas, despite the lower price
environment.
The post-summer trajectory of Saudi Arabias crude production will be a key signpost for prices.
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Business Strategy

Help clients in Diversification to

carrying out minimize risk
STABILITY GROWTH
efficiency
Maintain Diversifica-
Profit tion Potential recurring
Develop income
Internal improvement

Focus on Energy in Core Business

Selective Services in Non-Energy Sector

Optimize Integrate Diversify

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Market Penetration in Marine Support Services

Exploring New Discoveries

Contributing to National Resources
An Indonesia Pride
ELSA REGENT
Indonesian Flag - Marine Seismic
Vessel
Highest seismic vessel local content
in Indonesia (TKDN)
Superior broadband seismic data
acquisition & processing
Efficient survey utilization through
high capacity 3D seismic vessel
Full azimuth dataset for subsurface
illumination solution

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Product Development : Flare Gas

0,009 0,065 mmcfd

Electric up to 350
kw/unit
Flare to Power service

CH4 (gas)

NGL (liquid)
0,5 - 10 mmcfd
Condensate (liquid)
Flare Gas
Flare to Liquid service

Key Drivers
Clients needs to comply with regulation
Oil Company needs to reduce the oil lifting cost
Potential additional income for PSC
Indonesian LPG import keep increasing
Big Flare gas potential in Pertamina fields
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Market Expansion to Regional Area

India
Thailand 2D Land Seismic in ONGC &
Snubbing services in 3D Land Seismic in Oil India
Chevron Thailand E&P Ltd (Technical Expertise)

Brunei
Marine Support &
Snubbing Job in Shell
Brunei

Algeria
Seismic Reprocessing Malaysia
Malaysia
for Pertamina Algeria Well Testing & TCP
Snubbing Services
E&P services in Petronas
in Petronas Carigali & workover
services in KPOC

Ongoing project / under contract

Prospect market

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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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