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PT Ancora Indonesia Resources Tbk (Ticker code: OKAS) Public Expose FY2024 Accelerating Transformation for Sustainable Growth
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Disclaimer
These materials have been prepared by PT Ancora Indonesia Resources Tbk (“Ancora” / “AIR”) and have not been independently
verified. No representation or warranty, expressed or implied, is made and no reliance should be placed on the accuracy, fairness or
completeness of the information presented or contained in these materials. AIR or any of its affiliates, advisers or representatives
accepts no liability whatsoever for any loss howsoever arising from any information presented or contained in these materials. The
information presented or contained in these materials is subject to change without notice and its accuracy is not guaranteed.
The information contained in this presentation is intended solely for User reference. This presentation contains "Forward Looking"
statements relating to future events, which are inherently subject to risk and significant uncertainty. All statements, except historical
facts contained in this presentation, include but are not limited to statements regarding AIR’s future financial position and results of
operating activities, strategies, plans, goals, objectives and targets, future developments in the Market where AIR participates or
wishes to participate, and other statements that begin with or are followed by the words "believe", "expect", "aim", “intend”, “will”,
“may”, “project”, “estimate”, “anticipate”, “predict”, “seek”, “should” or other similar words and expressions both in English and Bahasa
Indonesia, are statements that are "Forward Looking".
Under no circumstances shall AIR be responsible or liable for the correctness of such material or for damage or loss of opportunity as
a result of use of this material. AIR makes no representations whatsoever regarding the opinions or statements of any analyst or other
third party statements. AIR does not monitor or control the content of third party opinions or statements and does not accept or
assume responsibility regarding anything related to the content or use of such opinions or statements. This presentation does not
constitute an offer to sell or a solicitation of an offer to buy or sell the AIR shares in any jurisdiction.
All numerical notation in tables and charts are in Indonesian language.
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Our Company Structure *as of December 31, 2024
Island Spice Investment Banque Pictet and Cie SA PT Dua Usaha Karya
PT Multi Berkat Energi Publik (<5%)
Limited Burgundy Assets Corp Negeri
38,69% 25,60% 8,22% 5,92% 21,57%
PT Ancora Indonesia Resources Tbk
50% 99,6% 99,8% 100% 60%
PT Multi Nitrotama Kimia PT Ancora Indonesia Mining PT Ancora Shipping Indotan Lombok Pte Ltd PT Bormindo Nusantara
51% 99% 99% 90%
PT Kemitraan MNK PT Multi Sinergi PT Aneka Nitrate PT Indotan Lombok Barat
BME Sumberdaya Indonesia Bangkit
99% 99% 99%
Operating subsidiary
PT Multi Kimia PT Kreasi Sinergi PT Inspira Global
Solusindo Teknikindo Karya Non-Operating subsidiary
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Providing solutions for diverse resources across three
core businesses
PT Multi Nitrotama Kimia (MNK) provides PT Bormindo Nusantara (BN) is an PT Indotan Lombok Barat Bangkit (ILBB) is
end-to-end mining services, including onshore oil and gas drilling and workover a gold mining company with a project site
production of Ammonium Nitrate, for services provider. in West Lombok.
companies across Indonesia.
BN offers a range of drilling-related services, ILBB has a permit for production operations
MNK is the main driver for Ancora’s business, including high pressure well control and is in the process of finalizing reserves
as well as its future growth and diversification equipment, special drilling pipes, drilling exploration to start infrastructure construction
opportunities. register and monitoring systems, top drive for production next year.
drilling and rig transfer equipment.
PT Kemitraan MNK BME (KMB) a subsidiary of PT MNK (51%) and PT BME Indonesia
(49%).
KMB is an integrated blasting services company with advanced technology that offers a
comprehensive range of products and services for surface and underground mines.
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Operational Area
Handil, East Kalimantan
Duri, Riau
Blasting Accessories Plant
Oil and Gas Drilling
Contractor East/South/Central Kalimantan
Blasting Services
Customer Area
Cikampek, West Java
Sekotong, West Nusa Tenggara
Ammonium Nitrate Plant
Gold Mine
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Financial Highlights
Sustaining strong financial performance to drive
long-term growth
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Financial Highlights: Strong bottom line and profit growth
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Financial Highlights: Decreasing liabilities and stronger
equity position
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Improving leverage position
We have consistently reduced our debt, bringing our Debt-to-EBITDA ratio to 1,44. Moving forward, our ongoing debt
reduction efforts will further strengthen our financial fundamental standing and create more opportunities for new strategic
investments.
USD Million Ratio (x)
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Financial Ratios: Strong profitability and balanced
leverage position
Financial Ratio 2023 2024 Change
Gross Profit Margin 27,55% 30,43% + 289 bps
Net Profit Margin 4,53% 14,24% + 972 bps
Return on Assets 4,55% 14,74% + 1018 bps
Return on Equity 20,08% 43,53% + 2346 bps
Current Ratio 104,62% 130,02% + 2540 bps
Bearing Debt to Asset 39,21% 33,10% - 611 bps
Bearing Debt to Equity 172,93% 97,78% - 7515 bps
Bearing Debt to EBITDA 220,95% 144,04% - 7691 bps
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For the full results, please visit:
https://www.ancorair.com/id/informasi-dan-ikhtisar-keuangan
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Operational Highlights
Maximizing opportunities through reliable productivity
and strategic partnerships to impactful results
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Expanded production volume and robust market demand
drive MNK's substantial growth across all sectors.
MNK has achieved sustained sales growth across all core business segments, demonstrating strong customer trust and
market confidence.
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Excellence in operations enhances productivity across
subsidiaries, effectively meeting strong market demand.
Productivity
Ammonium Nitrate (AN) and Nitric Acid (NA) Plant Debottlenecking & Reliability
● The reliability of our Cikampek Plant has improved by 8% compared to last year's performance.
Production Record Breaking for 2 consecutive years
● Detonator assembly volume for 2024 has increased by 7% compared to last year, marking another record-breaking
performance.
● Ammonium Nitrate production increased by 9% in 2024.
Increased Rig Productivity Performance
● Rig productivity performance improved by 12% compared to the same period last year.
Demand
Strong Ammonium Nitrate (AN) Demand
● Achieved more than 18% increase in ammonium nitrate quantity sold.
Accessories & Detonator Market Leader
● Supplying around 30% of domestic non-electric detonator market.
● First and only electronic detonator producer in Indonesia
Operational And Resource Improvement To Capture Demand Opportunity
● Strong interest in drilling services and ongoing process for new projects.
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Sustaining growth in our strategic partnerships
Partnerships
BME (A joint venture between MNK and BME - part of Omnia Group)
● BME provide blasting services aims to improve the provision of technical services.
● KMB first year performance outperformed, from the top to bottom line performance, we
are above our target, and continued operational improvement will be our focus going
forward.
● KMB's revenue up to 2024 has exceeded its target by 15%.
● Achieved an 40% increase in EBITDA above target
Partnership in Operation with Dyno Nobel
● Continued strong partnership with Dyno Nobel, through the establishment of an
electronic detonator assembly and increased production of non-electric detonators
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New Developments Focus towards vertical integration, diversification, and sustainability
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Delivering superior mining services through
vertical integration
Strategically focused on achieving excellence in vertically integrated mining services through strategic partnerships.
Ammonium Detonator Booster Blasting
Nitrate Plant Assembly plant Plant Service
MNK Cikampek MNK Joint Operation MNK Joint Operation Joint Venture (JV)
Ammonium Nitrate (JO) Assembly plant (JO) Booster Plant with MNK X BME
Production with Dyno Nobel AUXIN PT KMB - Blasting
Indonesia Services
Fully Operated
Ongoing Construction
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Indotan Lombok Barat Bangkit (ILBB) Outlook:
Gold mine project in West Lombok
Strategically located in resource-rich West Lombok, ILBB encompasses prospects for gold, silver, and copper. The
mineral potential is spread across 3 core mining sites.
Pelangan Site Mencanggah Site Selodong Site
Consists of: Consists of: Consists of:
1. Prospect Raja * 1. Prospect Bising 1. Prospect
2. Prospect Tanjung 2. Prospect Tibu Sirai Selodong
3. Prospect Jati 3. Prospect Waterfall
4. Prospect Kayu Putih
*Initial prospect to be mined
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ILBB exploration completion and operational preparation
for 2026 operation
Since completing exploration activities in late 2023, ILBB is
currently still conducting comprehensive testing (JORC) to
determine the most feasible, efficient and effective method for
gold mining operations.
Our target is to be operational by the beginning of 2026.
During the pre-operational period, we are strengthening our
work with the community in the Western Lombok area.
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ILBB: Building strong community development and positive
impact for local community
Recognizing the importance of the communities surrounding ILBB's operational areas, we are committed to fostering
mutual growth and development, before our operations kick off.
Increasing security measures to ensure community in our area is
protected
✅ Establishing new security posts to further safeguard the area.
✅ Conducting correspondence with relevant government institutions.
Contributing in developing the surrounding community's infrastructure
✅ Enhancing educational facilities of local schools.
✅ Contribute to the construction/renovation of mosques and religious
infrastructure.
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Sustainability at Ancora Indonesia Resources
Over the last 2 years we are increasing our focus on sustainability because it is a crucial component of our
operation and it started by defining our materiality topics and pillarizing the topics. We established our Sustainability
Task Force, which integrates all of its subsidiaries.
Commitment Statement
At PT Ancora Indonesia Resources Tbk, we are firmly committed to
advancing our journey towards sustainability with the utmost
responsibility and care for the resources we utilize and the communities
we serve.
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Navigating AIR materiality topics
We established our Materiality Topics in 2023 as our sustainability strategic priorities and are committed to continuously
engaging with our stakeholders on their concerns, monitoring industry trends, and regulatory updates.
Important Top Important
Water Consumption & Management Product/Service Safety & Quality
Community Development Emission Control
Employee Skills and Empowerment Energy
Economic Performance Healthy working Environment
Anti Corruption
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Our Sustainability Commitment and Framework
Sustainability Pillars
Sustaining Preserving the Nurturing Our Prospering with
Growth Planet People the Communities
Our Promise
We continue to foster growth We pledge to protect and We promise to foster our We commit to advancing in
through operational and sustain the natural world, and team’s development, harmony with the
service excellence, customer working towards a legacy of value each member, and communities, sharing
satisfaction, and sound environmental stewardship prioritize their well-being, success and fostering
financial performance and responsibility for the future fully committed to nurturing mutual growth, as we strive
generation our people and cultivating a for a future where
culture of empowerment and prosperity is a collective
growth. achievement.
Sustainability Targets
1. Revenue growth 1. Energy intensity reduction 1. Zero fatalities 1. CSR master plan
2. Non-coal diversification 2. Renewable energy transition 2. Zero human right incidents 2. Strengthen CSR program
3. Emission intensity reduction 3. Employee capability
4. Water recycle development
Enabler: Good Corporate Governance, Business Ethics, and Anti-Corruption 23
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Driving growth through operational and service excellence,
customer focus, and financial strength
Pillar 1: Sustaining Growth
Reliable production and execution excellence ensure optimal customer satisfaction
● A robust maintenance program and adequate human resource quality have enabled MNK
to have strong plant reliability above 95%.
● Zero product returns from customers through 2024
● Continue to maintain ISO 9001:2015 certification through strong Quality Management
System
Strengthening operations to achieve service excellence and customer satisfaction
● Resource optimization and enhanced maintenance program execution.
● Formed engineering taskforce to further enhance service quality and operational efficiency.
● Continue to maintain ISO 9001:2015 certification through strong Quality Management
System.
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Understanding our environmental impact and our initial
steps in energy transition
Pillar 2: Preserving the Planet
Energy transition and water management initiatives
● MNK has begun preparations for solar panel installation at its Cikampek manufacturing plant.
● The installation of a reverse osmosis water recycling system has kicked off in 2024.
● In 2024, we initiated our energy efficiency program at the Cikampek Manufacturing plant with
the installation of an economizer and heat exchanger, as an initiative to reuse steam.
A more comprehensive mapping of our environmental footprint and the initial phase in
energy transition.
● Enhancement of environmental data reporting in the aspects of energy and waste.
● Utilized B35 biodiesel as an alternative to conventional fossil fuels
Ensuring resources have the necessary knowledge and support prior to commencing
environmental data collection.
● River basin rehabilitation was kicked off in December 2024.
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Prioritizing the development, safety, and well-being of
our people
Pillar 3: Nurturing our People
Continued commitment to employee safety and development
● MNK has achieved 14.679.674 hours of total working hours without a Lost Time Injury (LTI)
since 2012.
● Received Zero accident award from the Kutai Kartanegara government for MNK's Handil
detonator production facility.
● Achieved Zero fatalities across Cikampek and Handil Plants.
● Provided mandatory and voluntary training both in house and in collaboration with external
parties.
● Continue to maintain ISO 45001:2018 certification through our health and safety
management practices.
Continued Zero Lost Time Incidents (LTI) and virtual learning initiative
● Achieved Zero Lost Time Incidents (LTI) in 2024.
● Kicked off virtual training initiative in collaboration with external parties.
● Continue to maintain ISO 45001:2018 certification through our health and safety
management practices.
● Fulfilled customer safety requirements throughout 2024.
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Programs that support our the growth of our
local communities
Pillar 4: Prospering with the Community
Fostering economic growth of our local community
● We empower surrounding communities through various initiatives. These include cupping
therapy (Bekam) training, sewing training with follow-up marketing guidance to help
participants sell their creations, and facilitating opportunities for local MSMEs to promote their
products at company events.
● Financial support for local infrastructure development to enhance community well-being.
Nurturing local talent with industry skills that meet market demands
● Introducing a new initiative of knowledge-sharing workshops and roadshows with vocational
high schools in Duri, Riau.
Empowering local community prior to the start of mining operations.
● Constructed new guard posts to enhance security around the areas.
● Support the development of infrastructure for the local community.
● Support local education by providing equipment needed for learning activities.
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Thank You Contact Us: Equity Tower 41st Floor Sudirman Central Business District (SCBD) Jl. Jend. Sudirman Kav. 52-53 Lot 9 Jakarta Selatan Indonesia 12190 Phone: +62 21 290 35 011 Email: corporate.secretary@ancorair.com Website: www.ancorair.com
Names mentioned 23 people and organisations named in the text · linked when the evidence is strong
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PT Dua Usaha Karya
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Burgundy Assets Corp
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PT Multi Nitrotama Kimia
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PT Ancora Indonesia Mining
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PT Ancora Shipping
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Indotan Lombok Pte Ltd
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PT Bormindo Nusantara
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PT Kemitraan MNK
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PT Multi Sinergi
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PT Aneka Nitrate
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PT Indotan Lombok Barat BME
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PT Multi Kimia
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PT Kreasi Sinergi
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PT Inspira Global Solusindo
p.3
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PT Indotan Lombok Barat Bangkit
p.4
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PT Kemitraan MNK BME
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PT MNK
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PT BME Indonesia
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PT KMB
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