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PUBLIC EXPOSE
PT Indonesia Fibreboard Industry Tbk
(the “Company”)
Jakarta, December 10th, 2024
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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
▪ The ▪ The first ▪ Glue factory ▪ Certification of ▪ Certification of ▪ SMB Kenzai Co.,Ltd, ▪ Blue PROPER
Company production of MDF construction Confirmity JIS Confirmity JIS Noda Corporation, Award for the
was ▪ The first export to A5905 (M-Type) A5905 (P-Type) and Ishinomaki 2021-2022
established Malaysia ▪ Veneer line ▪ Blue PROPER Plywood Mfg. Co., Ltd Period
▪ Certification of construction Award for the become the
Confirmity of 2017-2018 Company’s
California Air Period Shareholders
Resources Board ▪ Occupational Health
(CARB) and Safety (OHS)
▪ 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
th
As of November 30 , 2024 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
th
As of November 30 , 2024 Investors % Shares %
Foreign Institutions 8 0,64% 3.053.476.800 32,44%
Local Institutions 3 0,24% 5.505.173.600 58,49%
Foreign Individuals - 0,00% - 0,00%
Local Individuals 1.241 99,12% 853.349.600 9,07%
Total 1.252 100,00% 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)
1.220.000
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 (P)
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COMPARATIVE FINANCIAL HIGHLIGHTS
Financial Highlight Compare Q to Q Compare Q to Y
(in million Rupiah) 9M 2024 9M 2023 9M 2024 FY 2023
Net Sales 908.688 682.954 908.688 986.990
Cost of Good Sold 612.608 518.438 612.608 724.900
Gross Profit 296.079 164.516 296.079 262.090
Operating Profit 174.203 73.252 174.203 133.516
Profit Before Income Tax Expense 153.024 80.423 153.024 129.817
Income for the Period 119.187 62.510 119.187 100.903
Current Assets 487.845 419.403 487.845 487.933
Fixed Assets - Net 1.275.320 1.394.166 1.275.320 1.354.809
Total Assets 1.832.610 1.845.583 1.832.610 1.894.388
Current Liabilities 260.957 296.127 260.957 327.701
Total Liabilities 539.566 659.417 539.566 673.472
Issued and Fully Paid Capital 941.200 941.200 941.200 941.200
Total Equity 1.293.044 1.186.166 1.293.044 1.220.916
Earning per Share 12,66 6,64 12,66 10,72
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FINANCIAL RATIO
Compare Q to Q Compare Q to Y
Financial Ratio 9M 2024 9M 2023 9M 2024 FY 2023
Net Sales Growth 33%
Total Assets Growth -1%
Total Equity Growth 9%
Gross Profit Margin 33% 24% 33% 27%
Operating Margin 19% 11% 19% 14%
Profit Margin 13% 9% 13% 10%
Return On Assets 7% 3% 7% 5%
Return On Equity 9% 5% 9% 8%
Total Debt / Total Assets 29% 36% 29% 36%
Total Debt / Total Equity 42% 56% 42% 55%
Current Ratio 187% 142% 187% 149%
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SALES PERFORMANCE
Sales (in million Rp) Increase / (Decrease)
Market 9M 2024 % 9M 2023 % Rp %
Export 745.674 82,06% 532.974 78,04% 212.700 39,91%
Local 163.014 17,94% 149.980 21,96% 13.034 8,69%
Total 908.688 100,00% 682.954 100,00% 225.734 33,05%
Sales (in million Rp) Increase / (Decrease)
Product 9M 2024 % 9M 2023 % Rp %
MDF 905.540 99,66% 669.210 97,99% 236.330 35,31%
Plywood 2.655 0,29% 13.484 1,97% (10.829) -80,31%
Veneer 493 0,05% 260 0,04% 233 89,62%
Total 908.688 100,00% 682.954 100,00% 225.734 33,05%
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SALES BY GEOGRAPHIC
Sales (in million Rp) Increase / (Decrease)
Country / Region 9M 2024 % 9M 2023 % Rp %
Middle East 533.065 58,66% 262.579 38,45% 270.486 103,01%
Japan 176.340 19,41% 225.654 33,04% (49.314) -21,85%
Indonesia 163.014 17,94% 149.980 21,96% 13.034 8,69%
Others 36.269 3,99% 44.741 6,55% (8.472) -18,94%
Total 908.688 100,00% 682.954 100,00% 225.734 33,05%
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PRODUCTION PERFORMANCE
9M 2024 FY 2023
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 29.083 2,0 58.166 42.887 2,0 85.775
MDF Regular + MDF Splitter 11.542 1,5 17.314 30.454 1,5 45.681
MDF ME 63.455 1,0 63.455 60.886 1,0 60.886
Total Converted Volume 138.935 192.342
Total Capacity Line 1 (per year) 250.000 250.000
Utilization Rate 56% 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 23.338 1,3 30.339 18.359 1,3 23.867
MDF ME 126.823 1,0 126.823 98.528 1,0 98.528
Total Converted Volume 157.162 122.395
Total Capacity Line 2 (per year) 200.000 Production since April 2023 130.000
Utilization Rate 79% 94%
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PRODUCTION COST COMPOSITION
9M 2024
30,47% Direct Material
YTD Q3 2024
Direct Labor
59,14% 58,64% YTD Q3 2023
59,14% Fabrication Cost
10,39%
30,47% 30,47%
9M 2023
10,39% 10,89%
30,47% Direct Material
Direct Labor
Direct Material Direct Labor Fabrication Cost 58,64% Fabrication Cost
10,89%
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TARGET FY 2024 VS FY 2023
Indications
● MDF volume demand from the Middle East which
increased by 100% more than last year 2023, in
connection also in 2024 MDF Machine Line 2 has been
SALES fully operational throughout the year compared to last
IDR
> 20% year which only operated since April 2023. And the
average USD sales exchange rate increased from last
year around Rp 15,100/USD to Rp 15,800/USD this
year.
Indications
● Net profit is predicted to increase more than 60%
from last year's achievement, the high average
USD sales exchange rate and also efficiency in
NET PROFIT
IDR
> 60% production costs are the main factors for a
significant increase in net profit compared to last
year.
● In 2024, MDF Line 2 has been fully operational
during the year compared to last year which only
started operating since April 2023.
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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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