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14/06/2024
PUBLIC EXPOSE
PT. PELANGI INDAH CANINDO,TBK
( PICO )
JAKARTA, 21 JUNI 2024
DAFTAR ISI :
v COMPANY PROFILE
v PRODUCT OVERVIEW
v FINANCIAL & OPERASIONAL PERFORMANCE
v FINANCIAL PROJECTION
v BUSINESS PLAN
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COMPANY PROFILE
—
PT Pelangi Indah Canindo (“PICO” or the “Company”) was established in
1983 as a metal packaging manufacturer in Indonesia.
The company has more than 40 years of experience in this industry and has
become one of the leading companies in the metal packaging industry offering
a wide range of products in various sizes such as steel drums, LPG cylinders,
pail cans, plastic drums, and metal printing jackets. The Company's Head Office
is located at Daan Mogot Km 14, and has factories operating in several
locations, namely Cikupa, Cimone, and Cilacap.
—
MILESTONE
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MILESTONE (Continued)
• Mencapai Kapasitas Produksi OPTIMAL
2019
• Terjadi Masa Pandemic COVID-19 Pendapatan Perseroan turun menjadi 30%.
2020
• 23 Agustus 2021 PKPU Pada PN Niaga Jakarta Pusat
2021
• 24 Mei 2022 Tercapai Perdamaian dengan seluruh Kreditur (HOMOLOGASI)
dengan skema penyelesaian kewajiban 6-8 tahun
2022
• Masa Pemulihan dengan mememuhi kewajiban sesuai skema HOMOLOGASI &
meningkatkan penjualan / kinerja perusahaan
2023
Product Overview Product Overview
Metal Jacket & Printing Sheet
Steel Drums Producing metal Jacket sheets for
Drum packaging for battery products and printing
lubricant oil, asphalt, and sheets for biscuit tins, with an
chemical products, with an annual production capacity of
annual production capacity 519,000,000 sheets and 6,000,000
of 2,598,750 steel drums sheets, respectively
Steel Component
Steel components that do not
LPG Tank require any assembly
Various size of LPG cylinders, production process, which can
including 3kg, 12kg LPG, 15kg be sold directly to similar
LPG, and 45-50kg LPG factories.
General Can & Pail Can
General cans / plastic drums for
various products, such as aerosol
gas and lubricant oil, and pail can
for paint packaging, with an
annual production capacity of
319,200 cans / drums and
1,500,000 pail cans, respectively
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Main product
Product Production Realization Realization Realization
Capacity per 2023 2022 2021
Year
Steel Drum 2.500.000 1.112.012 983.595 836,857
Plastic Drum 576.000 274.819 247.345 220.227
Pail Can 1,500,000 86.670 195.529 149.079
Metal Printing 6.000.000 1.727.644 1.583.658 1.910.000
Historical Financial Performance
80.000 700.000
IDR Mio (Net Income, EBITDA, Gross Profti)
60.000 600.000
40.000
500.000
IDR Mio (Sales)
20.000 The Decrease of Sales due to the high price of raw
materials and lack of working capital
400.000
o Historically, sales in 2021 and 2022 experienced a
- significant increase due to an increase in sales of drum
300.000 products such as steel drums and plastic drums. In
addition, the Company also shifted its focus on selling
(20.000) pail can products due to rising raw material prices and
limited working capital.
200.000
(40.000) • Achievement of performance in 2023 is quite good
with an increase in sales, net income and ebitda.
(60.000) 100.000 • Performance achievements in 2023 will not be good
due to a decrease in sales, net profit and ebitda.
• The projection for 2024 is expected to be even better
(80.000) -
2024
2020 2021 2022 2023
(PRY)
Net Income -64399 -48357 8905 5660 9048
EBITDA -6269 -6033 26501 24501 24919
Grosss Profit 12191 16614 60843 52603 58884
Sales 308444 455741 549570 547818 602600
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Historical Product Performance
Sales Contribution
Sales are dominated by steel component products in
100% 2021-2023
o Historically, the Company has sold several products,
90%
namely Steel Drum, Asphalt Drum, Pail Can, Plastic
80% Drum, Metal Jacket and Printing Services.
o Steel Drums provides the largest sale contribution
70% with a total of 72,16 in 2021, 68,21% in 2022 and
76,66% in Y2023, while the second largest contributor
60%
came from Stell Component Product with an average
50%
sales of 11,73% in 2021, 13,93% in 2022 and 11,8% in
Y2023.
40% Shifting to focus more on steel drum production
due to increase in demand and higher
30%
profitability
20% o In 2021 up to now, the Company have focus its
business plan for Steel Drum production due to its
10% higher margin as well as to fulfill Pertamina’s and
Shell’s demand, which maintain the Steel Drum sale
0% contribution from 2021 at 72,16% to 68,21% in 2022
2020 2021 2022 2023 2024 (PRY)
Steel Component, Plate Cutting, and 73,66% in Y2023.
0,2815 0,1173 0,1393 0,118 0,118
Waste Plate
• Plastic Drum in 2022 increase 9,4% in 2021 to 10,55%
Printing 0,0326 0,0225 0,0335 0,0108 0,0108
in 2022 and 10,4% Y2023.
Metal Jacket 0,0454 0,0318 0,0203 0,0223 0,0223
Plastic Drums 0,0709 0,0947 0,1055 0,1038 0,1038 o Steel Component products are products that do not
Pail Can 0,0512 0,011984607 0,0193 0,0084 0,0084 require any further assembly production process,
Asphalt Drums 0,0557 0,047451311 0,0415 0,052 0,052
which can be sold directly to the similar companies.
Steel Drum - Pertamina 0,1869 0,1313 0,3413 0,342 0,3109
These products are relatively lower margin in
comparison with other products
Steel Drum - Private 0,276054291 0,3618 0,3413 0,3109 0,3109
Historical Sales Performance
250.000
200.000
(in IDR Mio)
150.000
100.000
50.000
-
2020 2021 2022 2023 2024 (PRY)
Steel Drum Swasta Steel Drum Pertamina Asphalt drum Pail Can Plastic Drum Metal Jacket Printing Service Steel Component, Plate Cutting, Waste
Improved sales performance of steel drums
In 2023 the drum product market experienced an increase in sales performance.
o Under normal conditions, demand for canned products from the consumer goods sector during Eid Mubarak is higher, but in 2023 demand is
stable as last of year.
o Sales of Pail Can and Metal Printing products decreased significantly due to high raw material prices, so the company reduced Pail Can
production.
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,
REVENUE PROJECTION
(in 000 rupiahs)
Description 2021 2022 2023 2024-P
Actual Actual Actual Projection
REVENUE
• Steel Drum 328.882.239 374.837.288 403.518.181 443.869.999
• Plastic Drum 43.168.066 58.006.657 56.881.356 62.569.492
• Pail Can 5.461.875 10.599.367 4.627.023 5.089.725
• Metal Jacket 14.497.973 11.138.312 12.233.725 13.457.098
• Printing Services 10.261.483 18.431.931 5.940.435 6.534.479
• Material & Metal componen 53.469.200 76.556.076 64.617.506 71.079.257
Total Revenue 455.740.836 549.569.631 547.818.227 602.600.050
FINANCIAL HIGHLIGHT
(In 000 rupiahs)
Description 2021 2022 2023 2024
Actual Actual Actual Proyeksi
Total Revenue 455.740.836 549.569.631 547.818.227 602.600.050
Gross Profit 16.614.443 60.843.209 52.602.740 58.883.834
Net Profit (48.356.764) 8.904.522 5.659.644 9.048.045
EBITDA (6.032.581) 26.501.405 24.918.768 33.123.528
DSR (Ebitda/liabilities) (93,1) 25,9 15,5 11,5
Net Profit to Equity (25,5%) 4,5% 2,7% 4,2%
Current Ratio 0,55 2,37 2,09 2,17
DER (Debt to Equity Ratio) 0,52 3,31 1,73 1,63
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Current Condition
Factors Description
• PICO has held the Pertamina contract for a period of 3 years with total
Amount
• The company gradually increased sales of Steel Drums and focused on
• Sales Contract with Pertamina selling other products and adjusted selling price.
• Increase in demand for cans from consumer products sector such as
• The High price of Raw Materials
External biscuits cans, wherein under normal condition, seasonal demand for biscuit
Factor cans increase during Eid Mubarak.
• Increase of Customer Demand
• Increase in demand for metal drums due to the increase in consumer's
purchasing power in the automotive sector.
Internal • The increase in sales volume causes the gross profit margin to increase.
Factor
• Increase in Economics of Scale • Working capital requirements increase due to increased sales volume and
price of raw materials.
• The Lack of Working Capital
• Payment of homologation obligations since June 2022-Dec 2023 is
• Homomogtion (PKPU) proceeding according to schedule.
Business Plan
Business Plan
• The company will focus on producing Steel Drums and increasing sales of Steel
Drums at a competitive selling price which is believed to provide higher profitability.
Focus on steel drums
production/sales and • Utilization of steel drums sales production in 2022 have only reached 58% and in
increase sales to new 2023 reached 60% of production capacity. In the future, the Company will focus on
markets increasing steel drums production with a higher target utilization rate at 70%
• For the target market, the Company strives to serve the production of steel drums
including avtur fuel packaging, and to serve customers at more competitive prices. In
addition, there was an increase in production demand by private customers, namely
Shell.
• The decline in Pail Can sales in 2020 up to 2023 was due to high raw material prices
which impacted the Company's profitability and caused the Company to shift its
Pail can Product and to focus to other profitable products. Due to this, starting in 2024, the Company has
increase metal jacket sales no plans to increase Pail Can sales.
by exploring new markets
• Metal jacket sales also decreased since 2021 and going forward the company will
continue to strive to increase sales by proposing several battery companies such as
Panasonic battery.
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Partnership Perseroan
Company Awards
As one of the leading metal packaging manufacturers, for its best performance, Pelangi Indah Canindo has
received certificates and awards from various leading institutions below. Every operational and financial activity
of the Company, is integrated in the ERP system My SAP.
— SAP, ISO, SNI, UN MARKS
— BISNIS INDONESIA AWARDS
— PT PERTAMINA (PERSERO)
Thank you for your attention
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