Source file signed link, expires in 15 minutes
Extracted text 18
Page 1
Public Expose
PT Sunindo Pratama Tbk
Jakarta, 12 Juni 2024
1
Page 2
Chapter 1
Company Profile
2
Page 3
Company Brief
PT Sunindo Pratama Tbk (SUNI) was established in Our strategic assets, PT Rainbow Tubulars Manufacture
September 2002 as the player in the oil & gas supporting (RTM), in-house OCTG tubing producers, enables us to secure
business and the pioneer in Indonesia for seamless Oil the availability of the production throughout the year, making
Country Tubular Goods (OCTG) tubing as our biggest revenue it as our vital strategic asset. RTM has also achieved the high
contributor. local content (TKDN) and aligned with government TKDN
regulation.
“ With the underserved market for tubing products in
Indonesia coupled with the Government target in increasing
oil and natural gas production by 2030,
we have an enormous potential to boost our capacity and
sustainable financial performance going forward.
”
Page 4
Why Invest in SUNI?
STRATEGIC SEAMLESS PIPES DOMESTIC CAPTIVE ALIGNED WITH GOVERNMENT
01 ASSET 02 PIONEER 03 MARKET 04 POLICY ON TKDN
PT Rainbow Tubulars Manufacture (RTM) as The only company in Indonesia, Underserved markets for tubing High local content (TKDN)
in-house OCTG tubing producers providing seamless/OCTG tubing products: Indonesia is targeting increasing is now obligated by government and
oil and natural gas production by 2030 aligned with government TKDN
roadmap
MARKET STRATEGIC STRONG SUSTAINABLE
05 LEADER 06 PARTNERSHIP 07 OPERATIONS 08 PROFITABILITY
Acquiring 63.6%* of OCTG tubing market PT Elnusa Fabrikasi Konstruksi, Sales volume Net profit +68.6% YoY**
share in Indonesia Jiangsu Jinshi Machinery Group (JMP), Tubing +35.6% YoY** Net profit +35.1% CAGR***
and PT Kris Setiabudi Utama Tubing +36.4% CAGR***
SOLID BALANCE EXPERIENCED HIGH SAFETY POTENTIAL MARKET FOR
09 SHEET 10 MANAGEMENT 11 STANDARD 12 RENEWABLE ENERGY
DER 0.3 time** Over 20 years of industry Zero fatality in operating activities Registered Geothermal Service
experience with a more than a decade Company ****
of collective expertise among the
Management
* Company data FY 2023 & civdmigas.skkmigas.go.id
** Update 1Q 2024
*** CAGR 2018-2023
**** Issued by the Directorate General of New and Renewable Energy and Energy Conservation of the Ministry of Energy and Mineral Resource of the Republic of Indonesia (EBTKE)
Page 5
Corporate Structure
Page 6
Line of Business
Product Services SUNI 3 Main Products
1. OCTG Tubing (RTM Products)
Size: 2-3/8” to 4-1/2”
1. OCTG Casing
Size: 4-1/2” to 20”
OCTG Casing OCGT Tubing Wellhead and
1. Wellhead & Christmas Tree
Christmas
Tree
Most popular products
1. Tubing:
Wellhead Installation and Size: 2-3/8”, 2-7/8”, 3-1/2”, 4-1/2”
Maintenance Services Grade: J-55, N-80, L-80
Drill Bit PDC Bit Drill Bit Tricone Bit
1. Casing
Size: 7”, 9-5/8”, 13-3/8”
Grade: K-55, N-80, L-80
1. Wellhead & Christmas Tree
Classes: AA, BB, CC, EE, FF, HH
Pressure (psi): 3000, 5000, 10000
Completion Equipment
Page 7
Drilling Sequence
Christmas Tree
Wellhead
Surface Line Pipe
Tubing
Casing
Page 8
Business Process in Our Strategic Assets
OCTG Tubing In-house Manufacturing Process in PT Rainbow Tubulars Manufacture
Green Pipe Pipe End Pipe Heat Customizing (Finish Final
1 (Hot Rolling Process) 2 Upset 3 Treatment 4 Product & Threading) 5 Process
Formation process from raw materials into Heating and molding Application of The final processed pipes are Final stage involves
standardized pipes. process at both ends of specialized heat tailored to meet customer pressure testing,
the pipe to create EUC treatment for achieving demands, including low-grade weighing, coating,
Billet storage, Billet cutting, Billet heating, (external upset higher material strength non-upset, low-grade labeling for
Hot rolling (piercing), Sizing, Cooling, connection) threaded specifications end-upset, high-grade identification,
Straightening, Chemical and Mechanical, joints. (high-grade pipes). non-upset, high-grade packaging, and
NDE, Visual and Dimensional. end-upset, and threaded pipes. readiness for pickup.
Green Pipe (Hot Rolling Process) Pipe End Upset
01 Billet 02 Billet 03 Billet 04 Hot 05 Sizing 06 Cooling 07 08 Chemical & 09 NDE 10 Visual and 11 End Upset 12 Pipe
Storage Cutting Heating Rolling Straightening Mechanical Dimensional Heating
Final Process Customizing Pipe Heat Treatment
23 Painting 22 Tally & 21 Threading 20 Hydro Test 19 NDE 18 Visual and 17 Chemical & 16 15 Cooling 14 Tempering 13 Quenching
Marking Weighting Dimensional Mechanical Straightening
Packing
Page 9
Chapter 2
Strategy & Target
9
Page 10
Our Strategic Plan in 2024
01 Increasing the production capacity of seamless pipe/OCTG tubing
● Increasing capital injection by IDR152.8 Bn to expand capacity (Done)
● Groundbreaking of RTM plant 2 (Done)
● Continuing the construction of plant 2 and the supporting facilities (in progress)
02 Product diversification and actively working with Premium Connection license
holder to qualify RTM’s product
● Line Pipe API 5L – SUNI has MoU to supply Inerco 500 tonnes/month for 1 year (in progress)
● Entering Premium Connection market (In progress)
03 JV with JMP - PT Petro Synergy Manufacturing
● The establishment of joint venture (JV) is aimed to ensure the supply of Wellhead &
Christmas Tree (Done)
● Gaining API/TKDN certification then starting the operations in 4Q 2024 (in progress)
Page 11
Management Highlight 1Q 2024
Sustainable Solid Balance Improving Strong
Profitability Sheet Cash Flow Operations
Operating revenues Equity Operating activities Sales volume
+15.1% YoY to IDR162.7 bn +5.7% to IDR621.5 bn +119.0% YoY to net cash IDR12.3 bn OCTG tubing
+35.6% YoY to 3,853.8 ton
Gross profit Financial Debt Investing activities
+67.2% YoY to IDR60.3 bn -14.6% to IDR62.6 bn -51.1% YoY to net cash IDR-34.8 bn OCTG tubing segment
High grade 12.9%
Net profit Debt to EBITDA ratio 0.4 time Financing activities Low grade 87.1%
+68.6% YoY to IDR33.4 bn DER 0.29 time -106.1% YoY to net cash IDR-10.7 bn
Current ratio 4.2 time OCTG casing
EBITDA +117.8 times YoY to 1,562.5 ton
+72.0% YoY to IDR45.5 bn
Production indicator
Energy usage per unit cost
Electricity
-16.8% YoY to 840.5 kWh/ton
Gas
-22.3% YoY to 3.3 mmbtu/ton
Page 12
Our Target Achievement in 2024
FY 2024 1Q 2024 Achievement
No Indicator Unit
Target Actual %
High grade K ton 8.0 0.5 6.2
OCTG tubing Low grade K ton 12.0 3.4 28.0
1 Operational Total K ton 20.0 3.9 19.3
OCTG casing K ton 8.8 1.6 17.7
Wellhead & X’mas Tree unit 98.0 2.0 2.0
Operating revenue billion IDR 923.6 162.7 17.6
Profitability Gross profit billion IDR 212.7 60.3 28.4
Net profit billion IDR 109.3 33.4 30.5
2 Financial
DER (max 2.5 time) time 0.58 0.29 201.1
Financial Debt
Current ratio (min 1 time) time 3.91 4.23 108.0
Capital Expenditure Capex billion IDR 327.4 34.8 10.6
Net profit achievement
30.5%
Page 13
Chapter 3
Operational Performance
13
Page 14
OCTG Tubing Performance
OCTG Sales Volume (ton)
4M 2024 +90,5% YoY to 6,339.7 ton
Achieved 31.7% target FY 2024
CAGR* 36.4%
20,000.0
6,338.7
3,328.1
OCTG segment in 4M 2024:
Tubing low grade : 77.8%
Tubing high grade : 22.2%
4M 2023 4M 2024 Target
*CAGR 2018-2023
Page 15
OCTG Casing Performance
OCTG Casing Sales Volume (ton)
4M 2024 +191 times YoY to 2,543.6 ton
Achieved 28.9% target FY 2024
CAGR* 16.9%
8,812.7
2,543.6
13.2
4M 2023 4M 2024 Target
*CAGR 2018-2023 in ton
Page 16
Wellhead & X’mas Tree Performance
Wellhead & X’mas Tree (unit)
4M 2024 -90.9% YoY to 2 unit
Achieved 2.0% target FY 2024
CAGR* 10.6%
98.0
22.0
2.0
4M 2023 4M 2024 Target
Page 17
Chapter 4
Highlights of the AGMS
Resolution
17
Page 18
Jl. Prof. Dr. Soepomo SH.
No. 48 Tebet Jakarta Selatan
12870 Indonesia
+62 21 8378 5773
+62 21 8378 5776
Thank You general@sunindogroup.com
18
Names mentioned 9 people and organisations named in the text · linked when the evidence is strong
unresolved
org
PT Kris Setiabudi Utama
p.4
unresolved
org
Directorate General of New and Renewable Energy and Energy Conservation
p.4
unresolved
org
Ministry of Energy and Mineral Resource
p.4
unresolved
org
PT Rainbow Tubulars Manufacture Green Pipe
p.8
unresolved
person
Prof. Dr. Soepomo SH.
p.18
Extraction attempts how the parser did, and what it refused
Nothing structured was extracted from this document — the attempts below say why.
No extraction attempted yet.