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PT Dharma Polimetal Tbk. (“DRMA”) Public Expose November 2024
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Disclaimer
The materials in this presentation are prepared by PT Dharma Polimetal Tbk (“DRMA”) and contain general background information about
DRMA business performances as at the date of this presentation. This presentation is subject to change without prior notice.
This information is given in summary form and does not purport to be complete. Information in this presentation, including forecast
financial information, should not be considered as advice or a recommendation to investors or potential investors in relation to holding,
purchasing or selling securities or other financial products or instruments and does not take into account their particular investment
objectives, financial situation or needs. Before acting on any information, readers should consider the appropriateness of the information
having regard to these matters, any relevant offer document and in particular, readers should seek independent financial advice.
This presentation may contain forward looking statements including statements regarding our intent, belief or current expectations with
respect to DRMA businesses and operations, market conditions, results of operation and financial condition, capital adequacy, specific
provisions and risk management practices. Readers are cautioned not to place undue reliance on these forward-looking statements; past
performance is not a reliable indication of future performance. DRMA does not undertake any obligation to publicly release the result of
any revisions to these forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of
unanticipated events.
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 DRMA and/or its affiliated companies 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.
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1. Company Profile
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Dharma Polimetal is the holding company for automotive component
manufacturing within Dharma Group
Vision
To Be The World Class Manufacturing Company and To
Give Positive Contributions to the Stakeholders
PT DHARMA POLIMETAL Tbk Mission
To Provide The Best Quality and Most Competitive
• DRMA is fully integrated in the manufacturing and production of Products in Automotive Components and Act as a
automotive components Strategic Partner to our Customers through Excellent
Operations and Human Resource
• With 8 subsidiaries + 2 JVs; each focusing on specific component
production, DRMA is in a great position to capture significant market
share in the auto parts manufacturing industry Values
• The businesses include manufacturing, assembling, and delivery of Integrity & Ethics Compassion
products Excellence Humility
• The wide range of products positioned the Group strategically as a
Motto
leader in the production of various vehicle components and as an
attractive local partner to foreign investors “Dharma Exist to Contribute”
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Dharma Group Structure
As of 31st October 2024
1. Irianto Santoso (5.10%)
2. Iwan Dewono Budiyuwono (4.63%)
3. Hadi Kasim (4.01%)
4. Yosaphat Panuturi Simanjuntak (1.29%)
5. Philipus Naftali (1.28%)
PT. Dharma Inti Anugerah PT. Triputra Investindo Arya 6. Endang Ahmad Zakaria (0.46%)
7. Public (21.47%)
47.60% 14.16% 38.24%
51% Sankei Dharma 49% 49% Dharma Kyungshin 51%
Indonesia (SDI) Indonesia (DKI)
Dharma Polimetal Tbk
99.99% 99.99% 93.40% 99.99% 85.90% 99.00% 70.00% 98.00%
Saikono Dharma Dharma Dharma Dharma Trimitra Dharma Energy
Dharma
Otoparts Precision Tools Precision Parts Electrindo Mfg. Controlcable Chitrahasta Resources
Poliplast (DPP)
Indonesia (SOI) (DPT) (DPA) (DEM) Indonesia (DCI) (TCH) (DER)
14.10%
0.01% 0.01% 6.60% 0.01% 1.00% 30.00% 2.00%
1. Hong Kuo Ming (7.07%)
Dharma Dharma Inti Djohan Dharma 2. Subagjo (2.50%) Dharma 1. Meity Frida (20.00%) Dharma
Precision Tools Anugerah Gautama Precision Tools 3. Anton Riawan (2.36%) Electrindo Mfg. 2. Djohan Tamsir (10.00%) Electrindo Mfg.
4. Liao Chin Hsin (2.10%)
associate entities individual shareholders
subsidiary companies minority shareholder(s) 5
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Experienced Management Team in Automotive Industries
Board of Commissioners Board of Directors
Irianto Santoso
Hadi Kasim Noel Aelyo Laras K. N. President Director
President Commissioner Commissioner 30+ years of experience in automotive
30+ years of experience in 10+ years of experience in industry including in Astra Group
automotive, agribusiness, various industries in
and logistic industries Indonesia
including in Astra Group Yosaphat P. Simanjuntak
Director
Didik J. Rachbini Soekamto Tjahjonoadi 30+ years of experience in automotive
Commissioner Independent Commissioner industry
30+ years of experience as 30+ years of experience in
economic observer and automotive including in Darmawan Widjaja
advisor Astra Group Director
30+ years of experience in automotive
and financial industry including in Astra
Iwan D. Budiyuwono Gatot Sudariyono Group
Commissioner Independent Commissioner
Immanuel A. Pakaryanto
30+ years of experience in 30+ years of experience in
automotive, mining, and Director
various industries in
healthcare industries Indonesia 25+ years of experience in various
industries in Indonesia
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Dharma Group Plant Locations with Total Land of Approximately 40 Hectare
DRMA
DRMA
Land : 14,990 m2
Building : 2,597 m2
Land : 136,000 m2 | Building : 90,212 m2
DEM TCH DEM
Land : 22,800 m2
Building : 15,400 m2
Land : 13,500 m2 | Building : 13,250 m2 Land : 23,000 m2 | Building : 16,000 m2 SDI
DCI DCI TCH
Land : 43,000 m2
Building : 17,000 m2
Land : 28,000 m2 | Building : 10,500 m2
Land : 4,800 m2 | Building : 3,000 m2 Land : 10,000 m2 | Building : 9,800 m2
DPT DPA
DPP DPA DKI
Land : 29,862 m2
Building : 40,466 m2
Land : 13,300 m2 | Building : 7,400 m2
Land : 29,000 m2 | Building : 12,500 m2 Land : 10,000 m2 | Building : 9,000 m2
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DRMA’s Subsidiaries
Dharma Polimetal Dharma Electrindo Manufacturing
Motorcycle Rear Seat Slow & Fast Charging
Fastener Frame Body Swing Arm Steering Handle
Main Harness Main Harness Entertainment
Fuel Filler Neck
Suspension Member
Casing Battery Pack
Smartkey Back Sensor Corner Sensor
USB Charger
Muffler Beam Comp
Steering Hanger
Dharma Poliplast Dharma Controlcable Indonesia
Cover Front Lower Cover Gril Radiator Cowling Upper Cable Comp Cable Comp Cable Comp. Auxiliary
Protector Muffler Parking Brake
Speedometer Seat Lock Rear Brake Conn Battery
Body Cover Cowling Side Front Cable Comp. Fr Battery
Lens For Door Kit Motorcycle Seat Battery Swab
Brake Con Pack
Station
Battery Energy
Electric Scooter Storage System
Cap Radiator Helmet
Trx-3 Battery Pack
Reserve Tank
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DRMA’s Subsidiaries
Dharma Precision Parts Dharma Precision Tools
Spring Adjuster Roller Weight & BLDC Motor Special Purpose Checking Fixtures
YOKE 5D9 Universal Ventilator
Slider Machine Robot
Tank Modulator All
Stem Handle 2DP
Type
Special Cutting Tool
Cap. Comp Brake Dies
Pipe Head 1WD
Saikono Otoparts Indonesia Trimitra Chitrahasta
Polypropylene Certified Conversion Kit Seat Frame
Brake Pedal
Sub Frame
Supplier
Customer
Steering Handle
Cross Member
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DRMA’s Joint Ventures with Global Japanese and Korean Companies
Sankei Dharma Indonesia Dharma Kyungshin Indonesia
Pipe Assy Exhaust
Sash Comp R/L Rr Door Up
Converter Assy w/
Monolithic Fully Commencing
in 2022
Wiring Harness
Stargazer Creta
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Strategic Alliance Ecosystem and Distinctive Partnerships
Business
partners
Raw Materials
& Equipment
2W
components
Integrated OEM Autoparts
Strategic Engineering
– R&D –
Procurement Manufacturing 4W
components
–
Technology
Partners
Global auto-technology players
provide technical assistance and Others
transfer know how
New
Components Opportunity Auto Components and
Others
Other Innovative Products
Long-term
customers
➢ DRMA Group strive to continuously looking for new opportunities in the auto parts market through extensive R&D by producing formerly
Japanese imported components locally.
➢ In the future, DRMA Group expect future growth driver from 3W, Commercial Vehicle Components as well as EV auto parts primarily through
DRMA’s 3W owned brand, and also Battery Pack and HSS Material for 2W, 3W and 4W EV. 11
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2. Company’s Strategies
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Dharma Group’s Product Development: Readiness for the Evolution of 2W EV
Smart Key USB Charger
Controller
IN COM
R A P
Wiring Harness
T
O
ER
BLDC Motor
NE
POW
NTS
Battery Pack
Digital Cluster Portable Charger
RE
WA
Battery Cell
TU
ST
RC
T
E
M S
GT R A
INF
For • Black Mass
Replace Charging Station
Energy Storage System • Copper Swab Battery
• Aluminum
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Dharma Group’s Product Development: Preparing for the Future of 4W EV
Smart Cabin
HV Connector HV Cable
IN COM
R A P HV Wiring Harness
T
O
ER
NE
POW
NTS
Casing Battery Pack Battery Module
HSS Frame Smart Drive
RE
WA
Battery Cell
TU
ST
RC
T
E
M S Controller
GT R A
INF
For • Black Mass
Energy Storage System • Copper Rectifier
Portable Charger Slow Charger Fast Charger
• Aluminum
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DRMA’s readiness to accommodate the EV needs in Indonesia
DRMA’s tactical strategies in penetrating EV-era
Due to supportive actions by Indonesian government and large population advantages, EV in Indonesia is expected to grow rapidly in the upcoming future
DRMA has been preparing comfortable strategies to capture this market, such as:
1 Strengthening EV-related Subsidiaries 2 R&D on EV-related Products 3 Launching EV Ecosystem Products
DRMA has been developing and focusing on electronic DRMA has been conducting in-depth research and development as In addition to focusing on EV-related products, DRMA is also
component, sensor and wiring harness for EV which is nerve of the well as launching EV-related products expanding its portfolio to strengthen its presence in the broader
Electric Vehicle through its subsidiaries: EV ecosystem
• DEM and DKI • Research and Development Process • 2W Conversion from ICE to EV
• EV-related Products • Charging Stations
DRMA has established Dharma Energy Resources to prepare its
battery recycling business, which holds significant potential for the
domestic market and positions the company strategically for
future demand Slow Charging Fast Charging
PT DHARMA ENERGY RESOURCES
2W Battery Pack and BESS Brushless DC Motor (BLDC) 7 kW 120 kW
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DRMA EV Ecosystem Universe
Slow Charging BLDC Hub Drive Motor
2W Battery Pack Business Potential: Conversion to EV
Solar Module for: 2W
• Residential
7 kW 11 kW 22 kW
• OEM
Battery Energy BLDC Mid Drive Motor
120 kW 200 kW • Commercial & Industrial
Storage System • Utility
4W
Utilized in Conversion
Auxiliary Battery Fast Charging Motor
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DRMA Launches AUX Battery for 2W under the DC Battery Brand
Safety
Current Customers
Auxiliary Battery 1 Protection Function - Overvoltage
2 Protection Function - Overheat
3 Protection Function - Overcharge
Current Currently Supply for
240
4 Protection Function - Overdischarge Domestic Market
Pcs Sold
5 Protection Function – Short Circuit Current
1000
Pcs PO
Dimensions and Weight
12 V Voltage
112 x 69 x 106
The AUX Battery will be marketed domestically
in mm
and exported to 2W OEMs and aftermarket
6 Ah Capacity business
900
gram
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Our Newest Subsidiary: Dharma Energy Resources (DER)
• DER operates in Battery Recycle for Indonesia autmotive industry
• Initial phase: Proses Pre-treatment (Blackmass)
• Next phase: Hydromet
Current Status
Lithium-Ion Battery Recycling Plant DRMA has signed MoU agreement with PT Bestindo Car
Utama, to manage BMW battery waste in Indonesia
x
MoU signing with PT
Bestindo Car Utama on 15th
Black Powder Aluminum Copper August 2023
Business Opportunity
Dharma Group is ready to collaborate with Korean
companies in battery recycle of Lithium battery waste in
PT DHARMA ENERGY RESOURCES Indonesia
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Subsidiaries: New Production Site for Business Expansion
To support sustainability, the factory
is equipped with Solar Panels, aiming
Dharma Controlcable Indonesia to become a Smart Factory.
Objective & Strategy
• Increasing DCI’s contribution to DRMA
1.0 9,800
Land Size Building Size
consolidated figures ha sqm
• New factory in Jababeka area for DCI business
expansion, especially in the manufacturing of Q1
battery pack 2 Floor Completion
2025
Dharma Precision Parts In support of sustainability, the factory will also be
equipped with Solar Panels, with the goal of becoming a
Smart Factory. Completion is scheduled for January 2025
Objective & Strategy
• Increasing DPA’s contribution to DRMA 1.0 9,000
Land Size Building Size
consolidated figures ha sqm
• New factory in Jababeka area for DPA business
expansion, which namely to increase DPA’s Q1
product portfolio 2 Floor Completion
2025
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DKI’s Opportunity for U.S. Export as Hyundai’s Top Supplier
New Factory
Customers Products
USA
DRDR
DRAS
2 Models
Tailgate Montgomery
Alabama
3 Models
Indonesia
New Factory
2.0 2.3
Land Size Building Size
ha ha
Dharma Kyungshin Indonesia
Q2
Best of The Best 3 Floor Completion
2025
Cirebon
Hyundai Supplier Award 2023
West Java
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DRMA Named “Supplier of The Year” by AHM for Two Consecutive Years
2023 2022
PT Dharma Polimetal Tbk PT Dharma Electrindo Manufacturing
Supplier of The Year Supplier of The Year
Astra Honda Motor Supplier Award 2023 Astra Honda Motor Supplier Award 2022
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Dharma Group’s Strategic Partnership: Technical Assistance Agreements &
Memorandum of Understanding with Prominent Companies
Technical Assistance Agreement Memorandum of Understanding
Producing Wiring Producing Silver Box with
Collaborative development
Harness with DEM DEM
of electric 2W components
Producing Accelerators, for the Korean brand, E3
Transmissions, Parking Producing Suspension Mobility
Brakes, and Control Cable Member and Body Part
with DCI and Producing with DPM Under Discussion of
Antenna with DEM 2W Battery Cells & Pack
Producing Brake Pedal Producing Fuel Filler Neck
with TCH with DPM Producing Head Unit, Cam,
and Speaker with DEM
Producing Lock Hood
Assy with DPM Producing Dash Cam
with DEM Collaborative development
of 4W Electric Conversion
Producing USB
Charger with DEM Producing Parking Sensor
with DEM
Producing Double Join Battery development
Seater with DPP
Producing Parking Sensor
Producing Rear Seat with DEM
Producing Portable Charger
Entertainment with DEM
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The First Indonesian Manufacturer to Produce 3W Vehicle to Capture SME Market
ICE PowerAce Dealers Locator EV
Existing
43 Current Dealer
Target
53 2025 63 2026 73 2027
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3. Financial Performances
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9M24 Financial Highlight
Revenue (Rp bn) Gross Profit (Rp bn)
-5.3%
-5.4%
4,246
4,022 771
729
20.3% 39.6%
18.2% 18.1%
1,335 1,467 247 281
1,220 201
19.2%
18.5%
16.5%
9M23 9M24 1Q24 2Q24 3Q24 9M23 9M24 1Q24 2Q24 3Q24
EBITDA (Rp bn) Net Profit (Rp bn)
-4.8% -11.2%
818 530 474
762 726 421
19.3% 45.9% 12.5% 69.0%
18.0% 11.2%
17.9% 291 10.5% 10.5% 179
236 199 136 106
19.8% 10.2% 12.2%
17.7% 16.3% 8.7%
9M23 9M23* 9M24 1Q24 2Q24 3Q24 9M23 9M23* 9M24 1Q24 2Q24 3Q24
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*excludes one off gain on negative goodwill from TCH acquisition Rp55.9 Bn
Source: Company’s Financial Statement
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Segment Contribution
Revenue (Rp bn) Revenue Contribution (%)
YoY Growth QoQ Growth
610 8.7% 198 11.6%
557 14.4% 13.8% 14.6% 13.5%
24.6% 178 390
1,414 1,066 20.6% 26.5% 26.5% 26.6%
33.3%
324
8.0% 22.3%
2,221 2,399 879 52.3% 59.7% 58.9% 59.9%
719
9M23 9M24 2Q24 3Q24 9M23 9M24 2Q24 3Q24
2W 4W Others
Gross Profit (Rp bn) Gross Profit Margin (%)
YoY Growth
57 QoQ Growth
71 25.0% 18.2% 18.1% 19.2%
0.7% 16.5%
239 137 42.4% 22 9.3% 11.2%
58 12.7%
56.0% 12.6%
22 16.9% 14.8%
37 12.9% 11.4%
9.6%
476 521 41.6%
201
142 21.4% 21.7% 22.9%
19.8%
9M23 9M24 2Q24 3Q24 9M23 9M24 2Q24 3Q24
2W 4W Others
Source: Company’s Financial Statement 26
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Consolidated Group Financial Performance
Revenue (Rp bn)
5,541
4,246 4,022
3,905
2,729 2,913
2,452
1,875
2018 2019 2020 2021 2022 2023 9M23 9M24
Gross Profit (Rp bn)
15.0% 16.6% 15.5% 15.7% 17.6% 18.2% 18.1%
11.8%
973
771 729
614
367 452 452
221
2018 2019 2020 2021 2022 2023 9M23 9M24
27
Source: Company’s Financial Statement
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Consolidated Group Financial Performance
EBITDA (Rp bn) Net Profit (Rp bn)
13.1% 13.9% 15.1% 16.9% 16.8% 17.9% 18.0% 11.2%
9.4% 5.1% 6.4% 7.3% 10.2% 10.3% 10.5%
0.4%
930**
570**
762** 474**
726
660 421
397
440*
379
213*
320
174
124
176
8
2018 2019 2020 2021 2022 2023 9M23 9M24 2018 2019 2020 2021 2022 2023 9M23 9M24
Source: Company’s Financial Statement
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*excludes one off gain on sales of land asset in FY21: Rp93 bn **excludes one off gain on negative goodwill from TCH acquisition Rp55.9 Bn
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Strong Financial Position
Total Assets (Rp bn) Total Equity (Rp bn) Financial Ratios
Current Ratio
1.4 1.6 1.6
1.3
3,695 2,279 1 1
3,386
2,030
2019 2020 2021 2022 2023 9M24
2,683
2,537 Total Liabilities / Equity
1,403 2
1.8
1.3 0.9 0.7 0.6
1,082
1,619
1,515
2019 2020 2021 2022 2023 9M24
32.2%
540 532 28.3% 28.1% 24.6%
19.7%
11.5% 14.8% 16.8% 15.2%
1.5%
0.5% 8.4%
2019 2020 2021 2022 2023 9M24 2019 2020 2021 2022 2023 9M24 2019 2020 2021* 2022 2023** 9M24
ROA ROE
Source: Company’s Financial Statement
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*excludes one off gain on sales of land asset in FY21: Rp93 bn **excludes one off gain on negative goodwill from TCH acquisition Rp55.9 Bn
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PT Dharma Polimetal Tbk PT Dharma PT Dharma PT Dharma PT Dharma PT Dharma PT Sankei PT Dharma PT Saikono PT Trimitra PT. Dharma Electrindo Poliplast Controlcable Precision Precision Dharma Kyungshin Otoparts Chitrahasta Energy Manufacturing Indonesia Parts Tools Indonesia Indonesia Indonesia Resources PT Dharma Polimetal Tbk Head Office: Jl. Angsana Raya Blok A9 No. 8 Delta Silicon 1 Cikarang 17550 p. (6221) 897 4637 / (6221) 897 4559 f. (6221) 899 01656 www.dharmagroup.co.id
Names mentioned 21 people and organisations named in the text · linked when the evidence is strong
unresolved
org
PT. Dharma Inti Anugerah
p.5
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PT DHARMA ENERGY RESOURCES
p.15 ×2
unresolved
org
PT Bestindo Car Utama
p.18 ×2
unresolved
person
DRAS
p.20
unresolved
org
PT Dharma Electrindo Manufacturing Supplier
p.21
unresolved
org
PT Dharma
p.30 ×6
unresolved
org
PT Sankei
p.30
unresolved
org
PT Saikono
p.30
unresolved
org
PT Trimitra
p.30
unresolved
org
PT. Dharma Electrindo
p.30
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