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PUBLIC EXPOSE
PT Indonesia Fibreboard Industry Tbk
(the “Company”)
Jakarta, November 11st, 2025
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COMPANY PROFILE
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ABOUT US
▪ MDF second line has
started commercial
▪ The first ▪ The construction production since April
▪ Certification of production of of the MDF 2023
Confirmity SNI plywood second line ▪ Blue PROPER Award for
ISO 9001:2015 ▪ Initial Public factory started in the 2022-2023 Period
▪ Certification of Offering (IPO) South Sumatra ▪ Certificate of Company
▪ Construction ▪ Certification Confirmity US ▪ Blue PROPER ▪ Blue PROPER Receiving Regional Tax
of business of Confirmity ▪ Certification of EPA 40 CFR Award for the Award for the Award (Land and Building
locations in SNI ISO Confirmity JIS Part 770 TSCA 2018-2019 2020-2021 Tax/PBB) of Musi
South Sumatra 9001:2008 A5905 (U-Type) Banyuasin Regency for
Title VI Period Period
Fiscal Year 2022.
2010 2013 2015 2017 2019 2021 2023
2007 2012 2014 2016 2018 2020 2022 2024
▪ The ▪ The first ▪ Glue factory ▪ Certification of ▪ Certification of ▪ SMB Kenzai Co.,Ltd, ▪ Blue PROPER ▪ Bisnis Indonesia Award
Confirmity JIS Confirmity JIS Noda Corporation, Award for the 2024 as the Best
Company production of MDF construction Company in the Forestry
was ▪ The first export to A5905 (M-Type) A5905 (P-Type) and Ishinomaki 2021-2022
and Paper Category
established Malaysia ▪ Veneer line ▪ Blue PROPER Plywood Mfg. Co., Ltd Period
▪ Change of Investment
▪ Certification of construction Award for the become the
Type from Foreign Direct
Confirmity of 2017-2018 Company’s Investment to Domestic
California Air Period Shareholders Investment
Resources Board ▪ Occupational Health ▪ Blue PROPER Award for
(CARB) and Safety (OHS) the 2023-2024 Period
▪ Certification of Management System
Confirmity of Award Certificate
Timber Legality ▪ Blue PROPER Award
Assurance System for the 2019-2020
Period 3
(SVLK)
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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
As of October 31st , 2025 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 996.200.000 10,58% 99.620.000.000
(each with ownership interest below 5%)
Total 9.412.000.000 100,00% 941.200.000.000
Number of Number of
As of October 31st , 2025 Investors % Shares %
Foreign Institutions 7 0,40% 3.053.730.600 32,45%
Local Institutions 7 0,40% 5.508.856.100 58,53%
Foreign Individuals - 0,00% - 0,00%
Local Individuals 1.742 99,20% 849.413.300 9,02%
Total 1.756 100,00% 9.412.000.000 100,00%
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COMPOSITION OF THE BOARD OF COMMISSIONERS AND
BOARD OF DIRECTORS
Positions Name
President Commissioner Surja Hartono
Commissioner Kensuke Shuto
Independent Commissioner Vera
President Director Heffy Hartono
Director Ang Andri Pribadi
Director Setiawan Tjutju
Director Hideaki Okubo
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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). 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 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
• Japan
• Kuwait
Africa • Malaysia
• Lebanon
• Myanmar
• Ivory Coast • Saudi Arabia • Philippines
• South Africa • United Arab Emirates • Singapore
(UAE) • South Korea
• Yemen • Taiwan
Europe • Vietnam
• Denmark • Hongkong
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FINANCIAL PERFORMANCE
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SALES GROWTH
Net Sales (in million Rupiah)
1.316.600
1.243.651
986.990
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 2024 2025 (P)
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COMPARATIVE FINANCIAL HIGHLIGHTS
Financial Highlight Compare Q to Q Compare Q to Y
(in million Rupiah) 9M 2025 9M 2024 9M 2025 FY 2024
Net Sales 1.015.623 908.688 1.015.623 1.243.651
Cost of Good Sold 689.442 612.608 689.442 821.303
Gross Profit 326.181 296.079 326.181 422.348
Operating Profit 215.506 174.203 215.506 257.980
Profit Before Income Tax Expense 197.914 153.024 197.914 229.822
Income for the Period 154.568 119.187 154.568 179.025
Current Assets 453.943 487.845 453.943 439.588
Fixed Assets - Net 1.239.456 1.275.320 1.239.456 1.242.009
Total Assets 1.716.818 1.832.610 1.716.818 1.753.405
Current Liabilities 170.832 260.957 170.832 191.650
Total Liabilities 359.910 539.566 359.910 447.463
Issued and Fully Paid Capital 941.200 941.200 941.200 941.200
Total Equity 1.356.908 1.293.044 1.356.908 1.305.942
Earning per Share 16,42 12,66 16,42 19,02
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FINANCIAL RATIO
Compare Q to Q Compare Q to Y
Financial Ratio 9M 2025 9M 2024 9M 2025 FY 2024
Net Sales Growth 12%
Total Assets Growth -6%
Total Equity Growth 5%
Gross Profit Margin 32% 33% 32% 34%
Operating Margin 21% 19% 21% 21%
Profit Margin 15% 13% 15% 14%
Return On Assets 9% 7% 9% 10%
Return On Equity 11% 9% 11% 14%
Total Debt / Total Assets 21% 29% 21% 26%
Total Debt / Total Equity 27% 42% 27% 34%
Current Ratio 266% 187% 266% 229%
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SALES PERFORMANCE
Sales (in million Rp) Increase / (Decrease)
Market 9M 2025 % 9M 2024 % Rp %
Export 870.765 85,74% 745.674 82,06% 125.091 16,78%
Local 144.858 14,26% 163.014 17,94% (18.156) -11,14%
Total 1.015.623 100,00% 908.688 100,00% 106.935 11,77%
Sales (in million Rp) Increase / (Decrease)
Product 9M 2025 % 9M 2024 % Rp %
MDF 1.003.154 98,77% 905.540 99,65% 97.614 10,78%
Plywood 90 0,01% 2.655 0,29% (2.565) -96,61%
Veneer 12.379 1,22% 493 0,06% 11.886 2410,95%
Total 1.015.623 100,00% 908.688 100,00% 106.935 11,77%
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SALES BY GEOGRAPHIC
Sales (in million Rp) Increase / (Decrease)
Country / Region 9M 2025 % 9M 2024 % Rp %
Middle East 654.863 64,48% 533.065 58,66% 121.798 22,85%
Japan 188.045 18,52% 176.340 19,41% 11.705 6,64%
Indonesia 144.858 14,26% 163.014 17,94% (18.156) -11,14%
Others 27.857 2,74% 36.269 3,99% (8.412) -23,19%
Total 1.015.623 100,00% 908.688 100,00% 106.935 11,77%
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PRODUCTION PERFORMANCE
9M 2025 FY 2024
Production Conversion Total Converted Production Conversion Total Converted
Capacity MDF Line 1
Volume Rate to MDF Volume Volume Rate to MDF Volume
(M3) ME (M3) (M3) ME (M3)
MDF Japan 27.199 2,0 54.398 40.772 2,0 81.544
MDF Regular + MDF Splitter 11.124 1,5 16.686 15.584 1,5 23.376
MDF ME 39.205 1,0 39.205 88.243 1,0 88.243
Total Converted Volume 110.289 193.163
Total Capacity Line 1 (per year) 250.000 250.000
Utilization Rate 44% 77%
Production Conversion Total Converted Production Conversion Total Converted
Capacity MDF Line 2 Volume Rate to MDF Volume Volume Rate to MDF Volume
(M3) ME (M3) (M3) ME (M3)
MDF Japan - -
MDF Regular 16.078 1,1 17.686 28.944 1,1 31.839
MDF ME 115.930 1,0 115.930 167.265 1,0 167.265
Total Converted Volume 133.616 199.104
Total Capacity Line 2 (per year) 200.000 200.000
Utilization Rate 67% 100%
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PRODUCTION COST COMPOSITION
9M 2025
32,68%
Direct Material
YTD Q3 2025
Direct Labor
55,53%
59,14% YTD Q3 2024 Fabrication Cost
55,53% 11,78%
32,68%
30,47%
9M 2024
11,78% 10,39%
30,47% Direct Material
Direct Labor
Direct Material Direct Labor Fabrication Cost 59,14% Fabrication Cost
10,39%
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TARGET FY 2025 VS FY 2024
Indications
● The increase in MDF sales volume to the Middle East
continues to drive the Company's revenue growth.
And the average USD sales rate increased from
SALES around Rp 15,800/USD last year to Rp 16,400/USD this
IDR
> 5% year.
Indications
● Net profit is predicted to increase by more than 5%
from last year's achievement. Higher average USD
sales rates and lower bank loan interest expenses are
NET PROFIT
IDR
> 5% ●
the main factors contributing to the increase in net
profit compared to last year.
However, during 2025, total MDF production volume
decreased by 18% due to the prolonged rainy season,
which disrupted the supply of raw wood. This resulted
in numerous machine downtimes, resulting in
inefficient production costs.
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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.
Names mentioned 13 people and organisations named in the text · linked when the evidence is strong
unresolved
org
Noda Corporation
p.3 ×2
unresolved
org
Plywood Mfg. Co., Ltd
p.3
unresolved
org
Ishinomaki Plywood Mfg. Co., Ltd
p.5
unresolved
person
Kensuke Shuto
· Commissioner
p.6
unresolved
person
Hideaki Okubo
· Director
p.6
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