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Agenda 1. Company Profile 2. Sales, Operations and Financial Performance 3. CSR Contribution 4. Employee Satisfaction 5. 2023 Business Outlook 6. Q&A
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Company Profile
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Company Profile PT Citra Tubindo Tbk
Incorporation Date 23 August 1983
Location Kepulauan Riau Province, Batam Island
Status and Form of Legal Entity Limited Liability Company (PT) and Public Company
Line of Business • Pipe threading
• Accessories Manufacturing Services
• Heat Treatment Process
• Pipe Coating & Surface Treatment
• Protectors Manufacturing Services
Address of Head Office & Factory Hang Kesturi I No. 2, Kawasan Industri Terpadu Kabil,
Batam 29467 Telp: (0778) 711121-711123
Address of Representative Office World Trade Center 16th Floor
Jl. Jend Sudirman Kav 29-31
Jakarta 12920 Telp: (021) 5250609
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Board of Commissioners & Board of Directors
Mathieu Florent Jacques Barreau Laurent Didier, Sudjono Suhardjo
Commissioner Dubedout Independent Commissioner
President Commissioner
Fajar Wahyudi Saiful Mizra bin Kassim Xavier Bertin Ludi Darmawan
President Director Finance Director Commercial Director Human Resource Director
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Organization Structure
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Sales, Operations and Financial Performance
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Sales: Solid Performance ◥ Indonesia – increased revenues in a challenging market ◗Lower drilling activity than expected (lack of rigs) ◗Customers focused on destocking ◗Limited activity for Geothermal ◗Pertamina Group is our largest domestic customer ◗Focus on high-end premium product to increase our ASP ◥ Export market – taking advantage of Vallourec international sales network ◗Focus on high-value market in South-East Asia ◗Strong increase yoy of export sales, specifically to Middle-East
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Operations: Headcount
900
815
800
728 713 707
700 712
647
598 585
600 580
530 535
503
500
400
300
217
198
200 178
144
127 127
100
0
2019 2020 2021 2022 2023 May-24
PTCT SCN Group TOTAL
Stabilized workforce with more volumes to manufacture
Continue to develop Multi Skill operators
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Operations: CAPEX (in MUSD)
5
4.5 4.36 4.45
4.25
4.06 3.98
4
3.43
3.5
3.18
2.93
3
2.5 2.71
2.5
2
1.5 1.32
1 0.8
0.63
0.5 0.21
0.09
0
2019 2020 2021 2022 2023
PTCT SCN Group TOTAL
Strict CAPEX discipline, reduced to the optimum level and minimize carry over to next year
▪ Target to achieve >95% cash out
▪ On time project execution
▪ Focus on safety, obsolescence and process automation to increase production efficiency
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Operations: Cost Saving (in KUSD)
Negative saving in Q1 due to low volume of order in Jan & Feb
2023 Full Year saving performance was better than previous year (124%)
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Liquidity Position as of 31 March 2024
Cash in Bank (KUSD) Working Capital (KUSD)
20,000 80,000
15,000 60,000
10,000 40,000
5,000 20,000
- -
FY2022 FY2023 3M2024 FY2022 FY2023 3M2024
As of 31 March 2024, PT CT Group total credit lines is 24,3 MUSD:
•Treasury Facility: Available 2,8 MUSD
•Trade Finance Facility : 21,5 MUSD for L/C & Bond Facility. 6,29 MUSD utilization.
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Finance: Consolidated Statements of
Comprehensive Income
as of 31 March 2024 (Unaudited)
3M 3M Changes (%)
KUSD 2024 2023
Revenue 46,470 48,295 (3.78%)
Gross Profit 9,250 8,241 12.24%
Gross Profit Margin 19.91% 17.06%
EBITDA 5,518 6,678 (17.37%)
EBITDA % Revenue 11.87% 13.83%
Net Income/(Loss) 2,878 3,597 (19.99%)
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CSR Contribution
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CSR Contribution
(2023 vs 2024: 306 vs 315 participants – 234 vs 246 KUSD)
# Program
Focus on education
Motto: “the Most sustained CSR activities
partnering with schools in
are the ones giving mutual benefits to
secondary and tertiary
both society and business”
level
Project Valerie: vocational secondary
school: inhouse training on 2023: 41 participants with
machining, inspection, heat budget of 23.4 KUSD
1
treatment operations and yard 2024: 70 participants
operations: 6 months inhouse under budget of 74 KUSD
intensive: partner: SMK6 Nongsa
Project Terrie: tertiary school:
2023: 22 participants with
inhouse training on operations
budget of 24.63 KUSD
2 management and supporting: 4
2024: 4 participants under
months inhouse intensive: partner:
budget of 41.3 KUSD
local and national universities
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CSR Contribution
(2023 vs 2024: 306 vs 315 participants – 234 vs 246 KUSD)
#
Project Sarah: refreshment
2023: 136 participants with budget
training for alumni of Project
of 80.98 KUSD
3 Valerie & Terrie and ex-
2024: 60 participants under
employees: 4 months inhouse
budget of 61 KUSD
intensive
Social Internship: to support
employee direct family members 2023: 65 participants with budget
to achieve mandatory industrial of 62.24 KUSD
4
exposure for tertiary : operations 2024: 29 participants under
and non: 2-4 months inhouse budget of 32 KUSD
assignment
Teaching Factory: vocational
2023: spending at 28 KUSD
5 secondary school: machining and
2024: under budget of 38 KUSD
welding activities
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Employer of Choice
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Development and Retention
No Topics Details
Challenges • Batam island is still struggling to attract high profile talents
• Shopfloor skills are not available in the island
• Gender diversity: 14% female and 86% male
1 Workforce diversity • Generation diversity:
• PTCT: 72% age 40 and below vs 7% age 50 and above
• SCN Logistics: 37% age 40 and below vs 18% age 50 and above
2023: 3074 participants and 24,775 hours
2024: 700 participants and 8,000 hours
2 Training and learning Supported by 76 champions (those who have the qualification to deliver training)
Creating internship projects partnering with Batam and national schools as well as part of CSR
projects
• Focus on 64 WC2 and 131 development points
• Performance appraisal and people review including succession, risk assessment, and movement
3 Talent management • Development plan: leadership & communication training, coaching & mentoring, project
assignment & movement, language training
• Expertise program validated by global community: Expert level 1, 2, 3
• University career expo and Project Terrie to tap on students from top universities
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Development and Retention
No Topics Details
• Salary increase in Jan-Mar based on inflation, market and merit, meals and transport adjustment
4 Compensation and benefit • Promotion cycle in July
• Budget for department team bonding
• Budget for employee indoor and outdoor activities
• 2023: 3 gathering with 285 participants
Woman at Vallourec: • 2024: 2 gathering with 265 participants
global program: to attract
5 • Policies and activities benefiting woman: 4 female toilets at shopfloor, 5 breastfeeding rooms, 3
more woman
ladies changing room and lockers, maternity leave, maternity allowance, menstruation
in the workforce
leave, fetching team for late night shift, health insurance for all family members for woman being
the source of family income, women sport tournaments
System automation • 2023: project to update digital platform working with one external provider
6
(HRIS) • 2024: new mobile platform with 800 users
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Internal Bonding
No Topics Details
Management – Employee Representatives: Trade
Labor Union, Cooperative Unit (Kopkar), Sport 2023: 69 participants
1 Committees, Mosque Committee: idea share, decision 2024: 49 participants
making, budget allocation, appreciation lunch and
One new building for Kopkar business expansion
dinner
Company level activities: company anniversary, safety 2023: 3930 participants
2
day, HR Clinics 2024: 2060 participants
3 Department level activities: team bonding: 2024: 215 participants
Employee sport and social activities: cycling,
4 badminton, volleyball, futsal, pingpong, aerobic & 2023: 7266 participants
zumba 2024: 2288 participants
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External Bonding
No Topics Details
CSR projects: Project Valerie, Terrie,
1 Sarah, Social Internship, and 2023: 306 participants
Teaching Factory 2024: 315 participants
2 School visit and job expo 2023: 3 schools and 2024: 7 schools
Booth visits: 740 males and 1010 female
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2024 Business Outlook
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2024 Business trend and outlook ◥ Global Market environment ◗World economy expected to continue to grow in 2024 and 2025 by ca. 3.2% ◗Energy expected to follow the same trend ◗New Energies not capable to coop with the increase ◗Strong momentum in Indonesia with high Oil & Gas production targets ◗Steady forecast from Middle-East and Africa ◥ OCTG outlook ◗Still unbalanced supply versus demand for premium products globally ◗Leadtime still on the high side compared to 2-3 years ago
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2024 Business trend and outlook (cont.) ◥ Volumes expected to be stable ◗Export market still dominated by Middle-East ◗Indonesia market – focused on spot and LTA tenders for Pertamina and Large Independents with a strong focus on premium products ◥ Average Invoiced Prices to continue to increase slightly ◗All contracts with low prices are terminated ◗Richer product mix thanks to our focus on Premium Product ◗Need to secure supply of Green Pipes ◥ Committed to deliver strong future results ◗Early engagement with our customers to promote our technical solutions ◗Development of our services portfolio thanks to the unique industrial setup in Batam ◗Continuous increase of our local content ◗New organization in place to comfort our leading position in all New Energies (CCS, Geothermal, H2)
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Tanya Jawab (Q & A)
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THANK YOU
Names mentioned 7 people and organisations named in the text · linked when the evidence is strong
unresolved
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Dubedout
· Commissioner
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Commercial
· Director
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Human Resource
· Director
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PT CT Group
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