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PUBLIC EXPOSE 2024
JAKARTA, DECEMBER 2024
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DISCLAIMER These materials have been prepared by PT Arkora Hydro Tbk (the “Company”) 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. The Company 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. These materials contain statements that constitute forward-looking statements. These statements include descriptions regarding the intent, belief or current expectations of the Company or its officers with respect to the consolidated results of operations and financial condition of the Company. These statements can be recognized by the use of words such as “expects,” “plan,” “will,” “estimates,” “projects,” “intends,” or words of similar meaning. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in the forward-looking statements as a result of various factors and assumptions. The Company has no obligation and does not undertake to revise forward-looking statements to reflect future events or circumstances. These materials are for information purposes only and do not constitute or form part of an offer, solicitation or invitation of any offer to buy or subscribe for any securities of the Company, in any jurisdiction, nor should it or any part of it form the basis of, or be relied upon in any connection with, any contract, commitment or investment decision whatsoever. Any decision to purchase or subscribe for any securities of the Company should be made after seeking appropriate professional advice.
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TABLE OF CONTENT
1 2 3
Company Profile Business Landscape Financial
Performance
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Chapter 1
COMPANY PROFILE
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COMPANY IN BRIEF
PT Arkora Hydro Tbk (ARKO)
Established in 2010, PT Arkora Hydro Tbk (ARKO)
focuses on run-of-river as a hydropower plant with
a current total contracted capacity of 42.8 MW.
ARKO also has over 260 MW capacity of run-of-river
hydropower plant under its pipeline.
Vision
To expand our portfolio of renewable energy projects and become the
market leader of renewable energy power generation while being
environmentally and socially responsible.
Mission
To develop renewable energy potentials in Indonesia in which will
reduce carbon emission and build a more sustainable future.
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MILESTONE
Cikopo COD
Project
Cikopo Tomasa Construction Yaentu Green bonds issuance
Project Project Project Tomoni Project
PPA & construction Construction PPA
2010 2012 2014 2017 2020 2021 2022 2023 2024
Company Tomasa Tomasa IPO
COD
establishment Project Project (Initial Public Offering)
5 Aug 2010 PPA
Yaentu PPA Kukusan
Project Project
PPA & construction
Yaentu
COD – 4Q24
Project
Tomoni
Construction
PPA : Power Purchasing Agreement Project 6
COD : Commercial Operating Date
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COMPANY STRENGTH
1 Strategic Location 5 Support for the Government's
"Net Zero Emission" Program
Situated in the natural forests and connected to PLN networks. Reducing GHG emissions by ±99,937 tons of CO₂eq annually moving forward.
2
High-Quality
Hydropower Plant 6 Experienced Management
Professionals with over 15 years of experience in the power generation and
Head >100 m and components of international quality.
collectively worked on over 30 hydro power plants in their previous careers.
Long-Term Contracts,
3 Stable Cashflow 7 High Safety Standards
PLN contracts with an average duration of 15 - 25 years and The company utilizes contractor services from PT Arkora Ekon Indonesia,
predetermined tariffs, securing the sustainable cashflow. supervised by PT Indokoei International, a renowned Japan consulting company.
Competitive Construction and
4 Operational Costs 8 Good Corporate Governance
Supported by in-house PT Granif Konsultan, experienced in Implementation of GCG principles across all business lines.
conducting feasibility studies, detailed designs, and
comprehensive testing for hydropower plant projects.
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RUN-OF-RIVER HPP
ILLUSTRATION
2. Desand 1. Weir
3. Waterway
4. Head tank
5. Penstock
6. Powerhouse
7. Tailrace
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HYDROPOWER PLANT PROJECTS - CIKOPO
Project Cikopo II
Location : Garut, West Java
Capacity : 7.4 MW (2 x 3.7 MW)
COD : 2017
Period : 15 years
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HYDROPOWER PLANT PROJECTS - TOMASA
Project Tomasa
Location : Poso, Central Sulawesi
Capacity : 10 MW (2 x 5 MW)
COD : 2020
Period : 15 years
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COD OF HYDROPOWER PLANT PROJECTS - YAENTU
Inside powerhouse Outside powerhouse
Location
Poso, Central Sulawesi
Capacity
10 MW (2 x 5 MW)
COD
October 2024
Contract period
Turbine and generator 25 years
Construction progress
100%
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CURRENT KUKUSAN II PROJECT PROGRESS
Penstock pipe installation Head tank excavation
Location
Kukusan, Lampung
Capacity
5.4 MW (2 x 2.7 MW)
Expected COD
3Q25
Contract period
Waterway Machine foundation in powerhouse 25 years
Construction progress
49.9% (Nov-24)
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CURRENT TOMONI PROJECT PROGRESS
Excavation work Access road clearing
Location
Luwu Timur,
South Sulawesi
Capacity
10 MW (2 x 5 MW)
Expected COD
3Q26
Equipment mobilization Excavation work Contract period
25 years
Construction progress
12.2% (Nov-24)
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Chapter 2
BUSINESS LANDSCAPE
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INDONESIA NEW AND RENEWABLE ENERGY MIX
Only 0.37% of the
entire potential has
been utilized, leaving
Solar Hydro Bio- Wind Geo- Ocean Total ample room for the
energy (>6 m/s) thermal development of New
and Renewable
Potentials (in GW) Potentials (in GW) Potentials (in GW) Potentials (in GW) Potentials (in GW) Potentials (in GW) Potentials (in GW) Energy (NRE).
3,294 95 57 155 23 63 3,687 This opportunity is
promising, given the
Utilization (in MW) Utilization (in MW) Utilization (in MW) Utilization (in MW) Utilization (in MW) Utilization (in MW) Utilization (in MW) support from the
723 6,738 3,401 154 2,600 - 13,577 government,
environmental
concerns, and the
Utilization (%) Utilization (%) Utilization (%) Utilization (%) Utilization (%) Utilization (%) Utilization (%) rising electricity
0.02% 7.09% 5.96% 0.10% 11.3% 0% 0.37% consumption.
Source: Directorate General of New, Renewable Energy, and Energy Conservation, Jun-24
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INDONESIA EXISTING NRE POLICY AHEAD
RUPTL 2021-2030
PLN's Electricity Supply Business
Plan (RUPTL) for 2021-2030
- Strategies to reduce GHG
emissions for NZE by 2060; “I was instructed by President
- Renewable energy accounts for Jokowi and President Prabowo to
51.6% of the 40,575 MW of detail and convert the RUPTL for
planned power projects;
2025 to 2035. The RUPTL covers
- Of the 20,923 MW of renewable
energy, hydropower plants
10 years, and I stated that at least
make up 44.3% or equivalent to 60% must be renewable energy.”
9,272 MW;
said Bahlil Lahadalia, Minister of Energy and
Mineral Resources, during the Green Initiative
Conference 2024 on September 25th, 2024.
Ongoing: Drafting of RUPTL for 2025-2035 or the greenest RUPTL ever.
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ADDITIONAL ENERGY MIX TARGET
20%
Renewable
energy
“According to the model, an
additional 100 GW of power plant Gas-based
capacity will be built by 2040, with 5% by 2040 energy
75% based on renewable energy.” New energy sources
(including nuclear)
75%
said Darmawan Prasodjo, President Director of
PLN, during a meeting with Commission XII of the
Indonesian House of Representatives (DPR) on
December 2nd, 2024.
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ARKORA PIPELINE
Contracted Capacity
42.8 MW
Current Pipeline
261.2 MW
Lampung
6 MW
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PRODUCTION CAPACITY
257.0 ARKO is going faster in utilizing the
228.6 enormous potentials through increasing
its production capacity by working on our
176.7 pipelines.
Alongside, ARKO also contributes for
114.4 118.2 Sustainable Development Goals (SDGs):
95.7 97.6
2021 2022 2023 2024 2025 2026 2027
Cikopo Tomasa Yaentu Kukusan Tomoni Production (GWh)
Estimation of production capacity given the COD target of Yaentu, Kukusan, and Tomoni project.
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GREENHOUSE GASES (GHG) EMISSION REDUCTION
GHG emission reduction In achieving Indonesia Net-Zero
Period: 2017 until 3Q24 Emissions (NZE) 2060, ARKO
±237,168 (Cikopo and Tomasa)
also contributes towards the
There was an increase for GHG emission emission reduction.
ton CO2eq reduction of 34,534 ton CO2eq during
9M24 (17.1% YTD) Thus, ARKO emboldens its
contribution for SDGs:
GHG emission reduction
±99.937 potential annually
ton CO2eq After all five projects operating
(including Kukusan and Tomoni)
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STRENGTHENING ESG COMMITMENT
Education Environmental
- Renovation of elementary - Environmental conservation
school, SDN 1 Panawa, Garut, through reforestation in
West Java. Pamulihan subdistrict.
- Procurement of information - Watershed rehabilitation by
and communication technology planting 48,247 pine trees
(ICT) facilities for the school. covering 52 ha.
Social Infrastructure
- Donation of qurban in Garut - Establishing of Baruga
for the people nearby. Meeting Hall.
- Distribution of basic necessities - Improvement of roads (800 m)
(sembako) for Desa Panawa, Garut. in Panjoka Village, Poso.
- Community empowerment for - Rehabilitation of 5 mosques in
watershed rehabilitation for Garumukti Village, Garut.
Desa Datarajan, Lampung
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Chapter 3
FINANCIAL PERFORMANCE
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IMPROVING REVENUE IN 9M24 AMID DROUGHT
248
Cyclically, precipitation level is
lower during 3Q24. However,
198 ARKO managed to increased
the revenue in 9M24
179 especially due to the
153 construction services, thanks
132 to the significant progress of
Kukusan project construction
169%1 164%1 169%1 164%1
52 (49.2% QoQ).
Revenue - yearly 143%1 157%1
Revenue – 9M24
EBITDA margin (%)
INDICATOR 2020 2021 2022 2023 9M23 9M24 YoY
Revenue 52 198 248 179 132.2 153.5 16.1%
EBITDA 23 137 141 114 90.7 97.4 7.5%
Net profit -23 50 53 39 45.5 40.5 -10.9%
EBITDA margin 43% 69% 57% 64% 68.6% 63.5% -5.1
(currency in billion IDR, unless stated otherwise)
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SOLID BALANCE SHEET
Total Asset Total Liabilities Total Equities
9M24: Rp1,271 bn 9M24: Rp805 bn 9M24: Rp466 bn
1,271
1,158
129 805
948 154 720
57
70
183
689 548
518 466
54 1,142 747 400 438
1,004 161 650
167
765
635 171
351 387
2021 2022 2023 9M24 2021 2022 2023 9M24 2021 2022 2023 9M24
Non-current asset Current asset Long term liability Short term liability
(currency in billion IDR, unless stated otherwise)
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Head of Investor Relations Nicko Yosafat n.yosafat@arkora.com PT ARKORA HYDRO TBK Treasury Tower Level 9 Unit G-H District 8 SCBD Lot 28 Jl. Jend. Sudirman Kav 52-53 Jakarta, Indonesia 12190
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PT Indokoei International
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PT Granif Konsultan
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Directorate General of New
p.15
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Minister of Energy
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