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PUBLIC EXPOSE
PT Indonesia Fibreboard Industry Tbk
(the “Company”)
Jakarta, December 1st, 2023
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COMPANY PROFILE
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ABOUT US
The first
Certification of production of
Confirmity SNI plywood The construction of
ISO 9001:2015 Initial Public the MDF second line
Certification of Offering (IPO) factory started in
Certification Confirmity US Blue Rating
Construction Certification of
South Sumatra MDF second line has
of Confirmity EPA 40 CFR Certification for Blue Rating started commercial
of business SNI ISO Confirmity JIS Part 770 TSCA the 2018-2019 Certification for the production since
locations 9001:2008 A5905 (U-Type) Title VI Period 2020-2021 Period April 2023
2010 2013 2015 2017 2019 2021 2023
2007 2012 2014 2016 2018 2020 2022
The The first Glue factory Certification of Certification of SMB Kenzai Co.,Ltd, Blue Rating
Company production of construction Confirmity JIS Confirmity JIS Noda Corporation Certification for
was MDF A5905 (M-Type) A5905 (P-Type) and Ishinomaki the 2021-2022
established The first export Veneer line Blue Rating Plywood Mfg. Co., Ltd Period
to Malaysia construction Certification for become the
Certification of the 2017-2018 Company’s
Confirmity of Period Shareholders
CARB Occupational Health
Certification of and Safety (OHS)
Confirmity of Management System
Timber Legality Certification
Assurance Blue Rating
System (SVLK) Certification for the
2019-2020 Period 3
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COMPANY VISION, MISSION AND CORE VALUE
VISION
To be a world class MISSION
Company in the wood CORE VALUE
panel industry. Continuous improvement
to produce best quality 1. Growing together
wood panel which will be with Stakeholders;
benefit for society, 2. Striving for the best;
partnership and earth for 3. Respecting each
a better future. other as a member
of the teams; and
4. Responsive to
changes.
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COMPOSITION OF SHAREHOLDERS
Number of shared issued Amount
st
As of October 31 , 2023 and fully paid % (Rp)
PT Adrindo Intiperkasa 4.800.200.000 51,00% 480.020.000.000
SMB Kenzai Co., Ltd 2.353.000.000 25,00% 235.300.000.000
Heffy Hartono 562.600.000 5,98% 56.260.000.000
Noda Corporation 350.000.000 3,72% 35.000.000.000
Ishinomaki Plywood Mfg. Co., Ltd 350.000.000 3,72% 35.000.000.000
Others
(each with ownership interest below 5%) 996.200.000 10,58% 99.620.000.000
Total 9.412.000.000 100,00% 941.200.000.000
Number of Number of
st
As of October 31 , 2023 Investors % Shares %
Foreign Institutions 7 0,56% 3.053.221.900 32,44%
Local Institutions 3 0,24% 5.505.173.600 58,49%
Foreign Individuals 2 0,16% 145.300 0,00%
Local Individuals 1.235 99,04% 853.459.200 9,07%
Total 1.247 100,00% 9.412.000.000 100,00%
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BOARD OF COMMISSIONERS AND DIRECTORS
Positions Name
President Commissioner Surja Hartono
Commissioner Atsushi Takahama*)
Independent Commissioner Sumarni
President Director Heffy Hartono
Director Ang Andri Pribadi
Director Setiawan Tjutju
Director Takuji Okamoto
*) Mr. Atsushi Takahama has submitted his resignation letter to the Company on September 15th, 2023,
approval for his resignation will be decided at the Extraordinary General Meeting of Shareholders
(EGMS) on December 1st , 2023.
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THE COMPANY’S BUSINESS ACTIVITIES
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LOCATION AND BUSINESS ACTIVITIES OF THE COMPANY
COMPLEX MODERN FACTORY OF THE COMPANY
Wood Panel Industry and Others
The main activity of the
Company is the wood processing
industry, especially Medium
Density Fibreboard (MDF),
Veneer, Plywood and others. The
Company is one of the largest
MDF producers in Indonesia, and
has exported to various
countries in the world. The
factory is located in Mendis Jaya
Village, Bayung Lencir, Musi
Banyuasin Regency, South
Sumatra. The factory location
occupies a land area of 50 ha.
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PRODUCTION FACILITIES
COOLING STACKING &
MDF LINE REFINER SANDING HANDLING SYSTEM
Capacity : 450.000 M3/year
VENEER PLYWOOD LINE ENERGY PLANT CENTRAL WAREHOUSE LOG YARD
Capacity : 20.000 M3/year Capacity : + 50.000 M3 Capacity : +120.000 Ton
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SUPPORTING FACILITIES
MAIN JETTY POWER PLANT GLUE PLANT
Crane Capacity : 40 ton Capacity : 30 MW Turbine, Capacity : 54.000 ton/year
2 Boiler x 40 ton & 1 CFB Boiler x 80 ton
WATER TREATMENT PLANT WASTEWATER TREATMENT
PLANT
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THE COMPANY PRODUCTS
Medium Density Fibreboard High Moisture Resistant
Plywood
(MDF) HMR-MDF
Plywood MDF MDF Laminated Veneer
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USE OF THE COMPANY PRODUCTS
Interior Design Kitchen Set Flooring
Structure Panel Doors Furniture
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COMPANY SALES NETWORK
The Company has made sales to various countries around the world. Since 2013 until
now, the Company's products have been sold to the following countries:
North America Middle East Asia Pacific
• United States of • Egypt • Australia
America (USA) • Iraq • China
• Jordan • India
Africa • Japan
• Kuwait
• Ivory Coast • Malaysia
• Lebanon
• Myanmar
• South Africa • Saudi Arabia • Philippines
• United Arab Emirates • Singapore
(UAE) • South Korea
• Yemen • Taiwan
• Vietnam
• Hongkong
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FINANCIAL PERFORMANCE
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SALES GROWTH
Net Sales (in million Rupiah)
988.000
867.146
714.582
669.713 682.021
608.680
554.574 567.190 569.554
442.689
323.270
49.034
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 (P)
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COMPARATIVE FINANCIAL HIGHLIGHTS
Financial Highlight Compare Q to Q Compare Q to Y
(in million Rupiah) Sep-23 Sep-22 Sep-23 Des-22
Net Sales 682.954 641.484 682.954 867.146
Cost of Good Sold 518.438 448.116 518.438 601.862
Gross Profit 164.516 193.368 164.516 265.285
Operating Profit 73.252 110.092 73.252 150.826
Profit Before Income Tax Expense 80.423 96.919 80.423 124.833
Profit for the year attributable to:
Equity holders of the parent company 62.510 75.547 62.510 97.118
Non-controlling interest - - - -
Current Assets 419.403 369.699 419.403 408.597
Fixed Assets - net 1.394.166 1.250.008 1.394.166 1.312.232
Total Assets 1.845.583 1.654.502 1.845.583 1.746.807
Current Liabilities 296.127 99.050 296.127 145.977
Total Liabilities 659.417 533.233 659.417 604.327
Issued and fully paid capital 941.200 941.200 941.200 941.200
Equity attributable to:
Owners of the company entity 1.186.166 1.121.268 1.186.166 1.142.480
Non-controlling interest - - - -
Earning per share 6,64 8,03 6,64 10,32
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FINANCIAL RATIO
Compare Q to Q Compare Q to Y
Financial Ratio Sep-23 Sep-22 Sep-23 Des-22
Net Sales Growth 6%
Total Assets Growth 12%
Total Equity Growth 6%
Gross Profit Margin 24% 30% 24% 31%
Operating Margin 11% 17% 11% 17%
Profit Margin 9% 12% 9% 11%
Return On Assets 3% 5% 3% 6%
Return On Equity 5% 7% 5% 9%
Total Debt / Total Assets 36% 32% 36% 35%
Total Debt / Total Equity 56% 48% 56% 53%
Current Ratio 142% 373% 142% 280%
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SALES PERFORMANCE
Sales (in million Rp) Increase / (Decrease)
Market 9M 2023 % 9M 2022 % Rp %
Local 149.980 21,96% 189.346 29,52% (39.366) -20,79%
Export 532.974 78,04% 452.138 70,48% 80.836 17,88%
Total 682.954 100,00% 641.484 100,00% 41.470 6,46%
Sales (in million Rp) Increase / (Decrease)
Product 9M 2023 % 9M 2022 % Rp %
MDF 669.210 97,99% 599.188 93,41% 70.022 11,69%
Plywood 13.484 1,97% 41.152 6,41% (27.668) -67,23%
Veneer 260 0,04% 1.144 0,18% (884) -77,30%
Total 682.954 100,00% 641.484 100,00% 41.470 6,46%
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SALES BY GEOGRAPHIC
Sales (in million Rp) Increase / (Decrease)
Country / Region 9M 2023 % 9M 2022 % Rp %
Indonesia 149.980 21,96% 189.346 29,52% (39.366) -20,79%
Japan 225.654 33,04% 345.904 53,92% (120.250) -34,76%
Middle East 262.579 38,45% 38.570 6,01% 224.009 580,79%
Others 44.741 6,55% 67.664 10,55% (22.923) -33,88%
Total 682.954 100,00% 641.484 100,00% 41.470 6,46%
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PRODUCTION COST COMPOSITION
9M 2023
YTD Q3 2023
65,40% 30,47%
58,64% YTD Q3 2022
58,64%
10,89%
Direct Material
Direct Labor
Fabrication Cost
30,47%
23,97%
9M 2022
10,89% 10,63%
23,97%
10,63%
Direct Material Direct Labor Fabrication Cost
65,40% Direct Material
Direct Labor
Fabrication Cost
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EMPLOYEE TURN OVER
Month Increase (Decrease)
Employee Status (MP) Sept 2023 Des 2022 MP %
Permanent 570 411 159 38,69%
Non Permanent (contract) 59 160 (101) -63,13%
Total 629 571 10,16%
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TARGET FY 2023 VS FY 2022
Indications
● Demand for MDF Middle East increased more
than 700% from last year 2022, in line with the
MDF second line has started to operate since
SALES
IDR
> 10% April 2023 which is focused to fulfill the high
demand from Middle East that has not been
fulfilled due to the limited production
capacity.
Indications
● Net profit is predicted will achieve same
performance as last year achievement, the
current uncertain global condition played a major
NET PROFIT role in the decrease in selling prices in almost all
sectors of the Company's sales product and lower
IDR sales volume for Japan and local markets which
have higher sales margins than the Middle East
market.
● Since the commencement of commercial
production for MDF second line, all
manufacturing costs, asset depreciation and bank
loan interest have been accounted for in the
Company's income statement resulting in a higher
presentation of these costs compared to last year.
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SUMMARY OF THE MDF 2ND LINE PROJECT REALIZATION
DESCRIPTION
Location PT IFI Tbk Factory Area, Jl. Besar Jambi, Palembang, Mendis Jaya Village,
Bayung Lencir District, Musi Banyuasin, South Sumatra
Construction area + 6 ha
Main machine 1. MDF/HDF Production Line with 4 Feet wide x 38,7 meter Continuous
Press
2. Power Plant with 1 x 80ton/h CFB Boiler and 1 x 15 MW Steam Turbine
Main building Warehouse PPIC, MDF Building, Energy Plant, Refiner, Barker Chipper, Chip
Silo, Power Plant, Warehouse material
Buildings and other Logyard, road,employee housing, dan other small facilities
supporting facilities
Additional MDF production + 200.000 m3
capacity
Project cost realization + Rp 819 billion
Date of commencement of April 2023
commercial production
Project financing 1. 70% from Bank (investment loan with PT Bank Danamon Indonesia Tbk
maximum of USD 31,000,000)
2. 30% from the Company’s operational cash flow
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THANK
YOU
This presentation has been prepared by PT Indonesia Fibreboard Industry Tbk independently and is circulated for the
purpose of general information only. It is not intended for the specific person who may receive this presentation The
information in this presentation has been obtained from sources which we deem reliable. No warranty (expressed or
implied) is made as to the accuracy or completeness of the information. All opinions and estimations included in this
presentation constitute our judgment as of this date and are subject to change without prior notice.
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 PT Indonesia Fibreboard
Industry Tbk 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
Cautionary note on forward-looking statements:
This presentation may contain statements regarding the business of PT Indonesia Fibreboard Industry Tbk that are of a
forward-looking nature and are therefore based on management's assumptions about future developments. Forward-
looking statements involve certain risks and uncertainties because they relate to future events. Actual results may vary
materially from those targeted, expected or projected due to several factors. Potential risks and uncertainties includes
such factors as general economic conditions, foreign exchange fluctuations, interest rate changes, commodity price
fluctuations and regulatory developments. The reader and/or listener is cautioned to not unduly rely on these forward-
looking statements. We do not undertake any duty to publish any update or revision of any forward-looking statements.
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