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Listed and traded on the Indonesia Stock Exchange (IDX)
IDX Ticker Code: BHIT
www.mnc-corporation.com
Corporate Updates
PT MNC Investama Tbk June, 2015
This material has been prepared by PT MNC Investama Tbk (the "Company") and is only for internal usage. By attending this presentation, you are agreeing to be bound by the restrictions set out below. Any failure to comply with these restrictions may constitute a violation of applicable securities laws.
The information and opinions contained in this presentation are intended solely for your personal reference and are strictly confidential. The information and opinions contained in this presentation have not been independently verified, and no representation or warranty, expressed or implied, is made as to, and no reliance should be placed on the fairness, accuracy, completeness or correctness of, the information or opinions contained herein. It is not the intention to provide, and you may not rely on this presentation as providing, a complete or comprehensive analysis of the condition (financial or other), earnings, business affairs, business prospects, properties or results of operations of the company or its subsidiaries. The information and opinions contained in this presentation are provided as at the date of this presentation and are subject to change without notice. Neither the company (including any of its affiliates, advisors and representatives) nor the underwriters (including any of their respective affiliates, advisors or representatives) shall have any responsibility or liability whatsoever (in negligence or otherwise) for the accuracy or completeness of, or any errors or omissions in, any information or opinions contained herein nor for any loss howsoever arising from any use of this presentation.
In addition, the information contained in this presentation contains projections and forward-looking statements that reflect the company's current views with respect to future events and financial performance. These views are based on a number of estimates and current assumptions which are subject to business, economic and competitive uncertainties and contingencies as well as various risks and these may change over time and in many cases are outside the control of the company and its directors. No assurance can be given that future events will occur, that projections will be achieved, or that the company's assumptions are correct. Actual results may differ materially from those forecast and projected.
This presentation is not and does not constitute or form part of any offer, invitation or recommendation to purchase or subscribe for any securities and no part of it shall form the basis of or be relied upon in connection with any contract, commitment or investment decision in relation thereto. This presentation may not be used or relied upon by any other party, or for any other purpose, and may not be reproduced, disseminated or quoted without the prior written consent of the company.
Any investment in any securities issued by the company or its affiliates should be made solely on the basis of the final offer document issued in respect of such securities.
The contents of this presentation may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, in whole or in part, for any purpose.
Disclaimer
2
Table of Content
• Corporate Overview Section 1
• Media Section 2
• Financial Services Section 3
• Properties Section 4
• Financial Performance Section 5
3
Corporate Overview Section 1
4
Corporate History, Major Milestones and Awards
2002 2003
1989
1999 1997
2004
2011
2001
2010
2013 2012
2007
• PT Bhakti
Investama
(“BHIT”)
established in
Nov 1989
• BHIT IPO
• BHIT transferred
securities
business to Bhakti
Capital
Indonesia ("BCAP") and
Bhakti Asset
Management
• BCAP IPO
• Acquired Global
Mediacom
(“BMTR”)
• BCAP repositioned as
holding company for
financial services
businesses
• Media Nusantara Citra
(“MNC”) established as
holding company for
content and advertising
based media
• Securities business
transferred to
Bhakti Securities
• BHIT acquired 20% stake
in MSKY
• MNC undertook IPO
• BMTR acquired 51% stake
in MNC Sky Vision
(“MSKY”)
• BCAP acquired UOB Life
Sun Assurance (MNC Life)
• BMTR increased its stake
in MSKY to 75.4%
• BCAP acquired
Jamindo
General Insurance (MNC
Insurance)
• MSKY IPO
• Rebranding into PT
MNC Kapital
Indonesia (a)
• Rebranding
BHIT into MNC
Investama
• Acquiring stake
in MNC Land.
•Global Bond
Issuance
amounted to
US$365 mn.
5
2014
BCAP acquired 40% PT Bank ICB Bumiputera Tbk and changed its name to PT Bank MNC Internasional Tbk
Resort Development
Corporate Structure
6
• Leading integrated investment company w/ investments in media, financial services, property. • Global Mediacom controls the largest media business in Indonesia • Leveraging the widely recognized MNC brand to build up a nationwide financial services business • Strong and diversified financial performance generating strong cash flow • Managing over 30,000 employees
Life Insurance
General Insurance
PT MNC Kapital Indonesia Tbk PT Global Mediacom Tbk
Content and Advertising Based Media
Subscription Based Media
Media Financial Services Property Investments
Multi Finance
Bank
PT MNC Land Tbk
Securities
Asset Management
MNC Sky Vision Tbk.
MNC Kabel Mediakom
Online Media
Leasing
Lifestyle & entertainment Dev.
General Property Development
• Westin Resort & Convention, Bali • Bali Nirwana Resort, Bali • Mandalika Resort, Lombok
• Lido Integrated Resort & Themepark
• Office Building • Hotels • Apartments • Property Services
7
Pursue other strategic investment companies
• investments of which are driven by fast growing Indonesia’s macro economy
•Undertake any investing activity to support our strategic investments.
- Optimizing synergy among our Group to further increase revenue and cost efficiency - Leverage our MNC brand across various businesses
Media Focus on 3 core business area and reinforce our market leading position
• Focused on our 5 core growth drivers:
- RCTI, MNCTV,GlobalTV, iNewsTV & content Business through MNC Channels
• Strenghthen our subscriber based media by dev. broadband initiatives MNC Play Media
• Online media : weChat, MNC Shop, Mobile Games Company LeTang, and Okezone
• Creating a one-stop financial services centre
• Max. profitability & creating greater synergies
• Developing an integrated online system
• Strengthening market penetrations
Become a leading lifestyle and & entertainment property company in Indonesia
• Lifestyle & entertainment property development
‘ Resort Development
• General Development
• Deliver high-quality properties to increase market competitiveness
Financial Services
Property
Investments
Strategies and Future Plans
Grow our own financial services businesses as a “financial supermarket”
• Focusing on retail businesses
• Implementing better risk management
• Lowering Acquisition cost
• Expanding our investment through M&A
Media
Section 2
8
Leading and Inspiring
PT Global Mediacom Tbk (MNC Media) Corporate Structure
9
Global Mediacom Tbk
Media Nusantara Citra Tbk
Content and Advertising Based Media
64.7%
84.4%
MNC Sky Vision Tbk PT MNC Kabel Mediakom
100%
Subscription Based Media
Online Media
* including MNC Investama (BHIT) share ownership of 5.93%, total group ownership is currently 90.3%
Millions
Population (2014)
Source: : Basic Statistics 2015, Asian Development Bank, April 2015
A Young Population : 80% - Below 50yr
Source: Indonesia Bureau of Statistics 2015
Completed Education Level
29%
26%
29%
13%
3%
0-14 15-29 30-49 50-69 70+
Source: Nielsen Media Research Source: Indonesia Bureau of Statistics 2012
Monthly Household Expenditure (Rp1,000)
A large & young population
200mn people below age of 50
A rising middle class
Strong economic growth driven
by domestic consumption
40mn TV household
Only 4% of population has
university degrees
Indonesians prefer to watch TV
than to read, watching 5 hours
of TV per day.
What are the macro drivers?
University 4% Academy
3%
Senior High 29%
Junior High 19%
Elementary 23%
NA 22%
A1 3500 6% A2 2501-
3500 9%
B 1751-2500 20%
C1 1251-1750 26%
C2 901-1250 21%
D 601-900 13%
E <600 5%
Macro drivers support industry growth
10
1,368 1,267
252 100 91 67 30 5
Source: Media Partners Asia 2015
In USD billion
Asia Pacific Net Adspend Growth (2014-2015F)
Indonesia net ad spend growth highest in the region
Media Partners Asia forecasts net ad spend growth of 10% in 2015
Growth is among the highest in the region
Indonesia’s ad spend is growing from a small base; we expect growth to be sustainable
11
Asia Pacific Net Adspend (2014 – 2015F)
11,9
37,6
19,3
7,1
2,6
40,6
8,2
1,4 1,9 1,2 1,7 1,8 2,1 1,0
12,3
41,0
2,0
7,9
2,9
41,3
8,6
1,5 2,0 1,3 1,7 1,9 2,3 1,1
2014 2015
9%
11%
9%
10%
2%
-6%
3%
1%
2%
-2%
5%
2%
-3%
10% 11%
8% 9%
7%
9%
3% 3%
5% 5% 5%
2%
-2%
2014 2015F
12
Well-positioned in a Conducive Growth Environment
In USD/spot
30 seconds prime time spot
Net ad spend as % of GDP is the lowest in the region indicating solid growth potential
The price for a 30 seconds prime time spot is cheap compares to other ASEAN countries
$5,400
$10,800
$17,136
Indonesia Thailand Philippines
Net Adspend as a Percentage of GDP (2013)
Source: Media Partners Asia 2014
0,9%
0,7% 0,7% 0,6%
0,6%
0,5% 0,4%
0,4% 0,4% 0,3% 0,3% 0,3% 0,3%
0,2%
Prime time advertising slots are limited; strong demand for advertising
Local brands have been aggressive in advertising to compete with multi national companies
We expect automotive and financial companies to increase TV advertising budget
13
38%
28%
15%
16%
3%
MNCN
SCMA
VIVA
TRANS
OTHERS
Sumber: Nielsen All Time all demography April 2015
Permintaan (Banyak merk yang beriklan di TV) Persediaan Terbatas: Hanya 11 FTA TV stations
Industry Dynamics
14
Low Penetration Rates in Key Segments
100% 100% 100% 100% 96% 99% 97% 97% 93% 85% 82%
61% 58%
99% 100% 100% 100% 96% 99% 97% 97% 93% 86% 84%
62% 60%
Korea Japan Singapore Hong Kong Malaysia Australia China Thailand Taiwan Vietnam Philippines India Indonesia
2013 2014
Asia Pacific TV Penetration of Total Households (2013-2014)
5,7
5,8
5,9
6,0 6,0
2010 2011 2012 2013 2014
18,0% 20,5%
23,7%
27,1% 30,2%
2010 2011 2012 2013 2014
Millions
Internet Household Penetration in Indonesia Newspaper Circulation in Indonesia
Source: Media Partners Asia
15
Indonesia’s Media Advertising Market Share
2019F 2014
Given the infrastructure constraint, TV is the only medium to reach a mass audience. TV advertising is expected to maintain
a dominant market share
Online advertising to take market share from Newspaper and Magazine
Source: Media Partners Asia
TV; 65,8%
Newspapers; 20,4%
Magazines; 2,6%
Online/Mobile; 7,3%
OOH; 2,2% Radio; 1,3%
TV; 65,5%
Newspapers; 18,2%
Magazines; 2,4%
Online/Mobile; 10,5%
OOH; 2,0% Radio; 1,1%
The Largest Integrated Media Company in Southeast Asia
16
RADIO
PRINT ENTERTAINMENT
NEWS & SPORTS
SUPPORTING FREE-TO-AIR TV CONTENT
PAY-TV CHANNELS CONTENT LIBRARY TALENT
MANAGEMENT
Content library contains more than 200,000 hours and increasing by more than 15,000 hours per year
RCTI, MNCTV,
GlobalTV, iNewsTV
MNC Sports
TALENT SEARCH/ NEWS/ VARIETY/ SPORTS
ANIMATION
IN HOUSE PRODUCTION UNITS
DRAMA/ MOVIES/ FTA
Our 5 Key Growth Drivers
17
RCTI, MNCTV, and Global TV grow significantly outperforming the industry
Indonesia NEWS TV to become a national network with focus on news and infotainment
19 exclusive channels on MNC Sky Vision to generate ad revenue
Integrated TV studios to be completed in mid 2015 is set to reduce programming and operation cost
Content is King
18
Content is the only way to capture audience share
and monetize advertising dollars
Indonesians love “Sinetrons” and we broadcast
many of the top drama series
We have licensed popular International programs
such as Master Chef, Indonesia Idol and X Factor
Exclusive programming with top Hollywood studios
More than 200,000 hours of content library and
increasing by more than 15,000 hours annually
We also have 19 MNC branded Pay TV Channels.
These channels are integral to our content strategy
Creating the best content is our top priority
“Content is where I expect much of the real money will be
made on the Internet, just as it was in broadcasting.
The television revolution that began half a century ago
spawned a number of industries, including the manufacturing of
TV sets, but the long-term winners were those who used the
medium to deliver information and entertainment.”
“Content is King” by Bill Gates in 1996
Source: Nielsen All Time All Demographic Audience Share
All Time Nielsen TV stations ranking
YTD April 2015
Share
1 RCTI ABC 15.4
2 SCTV ABCD 14.8
3 IVM ABCD 14.1
4 ANTV ABC 12.8
5 MNCTV ABCD 12.0
6 TRANS7 ABC 8.0
7 TRANS ABC 7.9
8 GTV ABC 6.5
9 TVONE ABC 4.0
10 METRO AB 2.4
Rank Station Target
Audience
Indonesia’s pay-TV subscribers are estimated to reach 8.7 million by 2020, equaling to only 21% of TV households. Almost
3x the size of 2012.
19
Indonesia’s Pay TV Subscriber Trend & S
ou
rce
:
Me
dia
Pa
rtn
ers
Asia
20
13
In
th
ou
sa
nd
su
bs
cri
be
rs
265 317 465 650 749 873 1.132 1.676 2.442 3.118 4.376
5.471 6.340 7.065 7.687 8.221 8.691 1% 1% 1% 2% 2% 3% 3%
5% 7%
9% 12%
14% 16%
18% 19% 20% 21%
-8% -6% -3% -1% 2% 5% 7% 10% 12% 15% 17% 20% 22%
0
2000
4000
6000
8000
10000
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014E 2015E 2016E 2017E 2018E 2019E 2020E
SUBS %Pen/TVHH
Asia Pacific’s Average Pay TV Monthly ARPU (2012) Asia Pacific’s Pay TV subscribers (2013)
54,1
33,6 30,0
18,8 16,1
12,5 8.0 8,0
4,6 4,2 3,4
-
10,0
20,0
30,0
40,0
50,0
60,0
Well-positioned in a Conducive Growth Environment
29 610
3.265
1.571
44 894
2.808
477 827
5.989
3.330 785
1.089
5.149 305
1.523 33
536
1.194
880
131
122
1.385
5
398
Taiwan Vietnam Malaysia Australia HK Thailand Indonesia PHP NZ Singapore
IPTV
Cable
Satellite
28% 24%
20% 20% 18% 18%
13%
6%
3% 1%
0%
5%
10%
15%
20%
25%
30%
Indonesia Thailand China India China PHP Korea Malaysia Singapore HK
Indonesia has the lowest pay TV penetration rate of TV household in the Asia Pacific (2013)
Indonesia has the highest projected pay TV subscriber growth in the Asia Pacific (CAGR 2012-2016E)
Source: Media Partners Asia 20
Indonesia’s Pay TV Market Has Huge Potential
100%
86% 80%
66%
51% 49%
28%
11% 9%
0%
20%
40%
60%
80%
100%
120%
Korea Hongkong India Singapore Malaysia China Thailand Philippines Indonesia
Strong Market Position with Superior Content Capabilities
21
Company Milestones Total subscribers (in thousands)
December 2014
Total subscribers = 2.53 million
2011:
MPEG 4 rollout
2009:
Launched of Indostar II satellite; migrated subscribers
to Galaxy and Venus packages
2001:
Acquired 51% of Indovision and became major owner.
Less than 30k subscribers
2008:
Introduced Top TV to target low/middle class
Opened sales and services offices in 43 cities
July 2012:
IPO @ Rp 1,520/shr
2006:
Name change to MNC Skyvision
2007:
Introduction of set top box subsidy
9 28 30
56 109 192
306
479
604
805
1,163
1,720
2,300
2,528
0
500
1000
1500
2000
2500
3000
Increase Subscriber:
Introduce MVNO franchise system, New sales offices
Minimize Churn:
Restructured sales incentive system, Faster response. Better customer service, Member get member
program
Increase ARPU:
Launched OTT Indovision Anywhere, Upselling Channel Packages
Key Initiatives
Our PayTV 3 Most Important Competitive Advantages
144 channels with 36 exclusive channels; 19 MNC branded channels
The only provider that owns satellite with S-band technology
Has 100 branches across Indonesia
22
Source: AGB Nielsen Report Top 20 Channels YTD March 2015 NO. CHANNEL 11 FOX MOVIES PREMIUM 12 MNC COMEDY
13 MNC KIDS 14 MNC SPORTS 1
15 AXN
16 FOX CRIME 17 MNC NEWS
18 MNC MOVIE 19 LIFE
20 MNC ENTERTAINMENT
NO. CHANNEL 1 CARTOON NETWORK
2 MNC SPORTS 2
3 CBEEBIES
4 DISNEY CHANNEL
5 DISNEY XD
6 DISNEY JUNIOR
7 S-ONE
8 MNC SHOP
9 MNC INFOTAINMENT
10 MNC MUSLIM
I-NEWSTV was launched on April 6th 2015.
• The focus will be 24 hours news, entertainment and sports
REGIONAL TV NETWORK
23
Payakumbuh
Lubuk Linggau Masohi
■
Biak
Nabire
Singaraja
Jakarta
■ ■
Sumenep ■ ■ ■
Bojonegoro
Kediri Madiun
■
■ ■ ■
■ ■ Jambi
Medan
Batam
Padang
Lampung
Palembang
Surabaya
Bali
Pontianak
Makassar
Bandung
Purwokerto Magelang
Semarang
Tasikmalaya
Samarinda
Pleihari Kendari
Gorontalo
Kupang
Mataram
Cirebon
Palu Ternate
Ambon
Manokwari ■ Pekanbaru
Banda Aceh
Bengkulu Palangkaraya
Manado
Sabang
Lhokseumawe
Pematang Siantar
Bukit Tinggi
Pangkal Pinang Mamuju
Tarakan
Merauke
■ Tenggarong
Total : 51 Stations Nationwide
PLAYMEDIA – FIBER TO THE HOME TECHNOLOGY
24
600,000 homes pass under construction in 7 Big Cities
(Jakarta, Surabaya, Semarang, Bandung, Malang, Medan and Bogor)
Speed – Ultra Speed Internet up to 200 Mbps equal for both upload and download
Reliability – Stable Connection supported by Fiber To The Home Network
Content – Offers 144 pay-TV channels including 36 exclusive channels; 20 of which are MNC branded channels
Features – Unique Interactive Features such TV on Demand, Catch-up TV, and Network Personal Video Recording (NPVR)
Play Media to be a disruptive force – Existing competitors cant match these offerings
ONLINE MEDIA – EXCITING OPPORTUNITIES
25
Letang (www.joymeng.com) a fast growing mobile games company in China. It’s latest casual mobile games Bonnie Bear has achieved more than 240m downloads in since its launch early 2014 and its 2nd game Armour Heroes has received more than 20m download since launched last Sept.
We Chat is a social media platform that supports sending voice, video, photo and text messages. We Chat Indonesia currently is installed in over 50% of all smartphones in Indonesia.
Okezone.com is an online portal of news and entertainment focusing on Indonesian readers both in the homeland and those living abroad. Currently www.okezone.com receives around 2 mio unique daily visitors.
MNC Shop, Joint Venture with GS Home Shopping No.1 Home Shopping Channels. The first 24 hours integrated TV and online shopping service in Indonesia.
Very Excited About China Mobile Games
26
Boonie Bear and Armor Heroes achieved more than 300 million download since early 2014
Letang Games revenue 1Q2015 achieved $21Mio, YoY Growth of 126%
Letang Games are planning an IPO with estimated valuation of $1 billion
Fu Mu Bang, parenting activities application with high growth momentum have over 1 million subscribers as of Q12015
Fu Mu Bang is currently raising fund of $15 million with Company valuation of $93 million to $142 million
Bonnie Bears Armor Heroes Fu Mu Bang App
27
New buildings to integrate 3 TV stations
MNC TV RCTI MNC News Center Global TV
Financial Services INTEGRATED FINANCIAL SOLUTIONS
Section 3
28
PT MNC Kapital Indonesia Tbk (MNC Financial Services) Corporate Structure
29
INSURANCE INDUSTRY
30
Still Low Penetrations Rates for Life and Non Life Insurance w/ High Growth Prospects
Penetration of Life Insurance in 2014 Premium percentage of GDP Penetration of General Insurance in 2014 percentage of GDP
2010 2011 2012 2020
US$ 7.8 bn US$9.8 bn
US$11.8 bn
US$29.6 bn
26%
20%
CAGR 12%
2010 2011 2012 2020
US$3 bn US$3.9 bn
US$4.5 bn
US$12.3 bn
30%
15%
CAGR 13%
Life Insurance Premiums Projection for Indonesia Non Life Insurance Premiums Projection for Indonesia
Taiw
an
Ho
ng
Ko
ng
Jap
an
Ko
rea
Sin
gap
ore
Ind
ia
Mal
aysi
a
Thai
lan
d
Ind
on
esia
Ph
illip
ines
15%
11% 9.2%
7%
4.4% 3.2% 3.1% 3%
1.3% 0.9%
Ko
rea
Taiw
an
Jap
an
Mal
aysi
a
Thai
lan
d
Sin
gap
ore
Ho
ng
Ko
ng
Ind
ia
Ind
on
esia
Ph
illip
ines
5.3%
3.2%
2.3% 2.1% 2.1% 1.6%
1.4% 0.8%
0.5% 0.5%
Source: Swiss Re, Indonesia Life Insurance Association
Source: Swiss Re, Indonesia Life Insurance Association
INSURANCE INDUSTRY
31
Past Acquisitions In The Life Insurance Industry
Source: Various Media Reports
32
FINANCING & LEASING INDUSTRY Strong Growths in Consumer Financing & Leasing
Total Financing in the Consumer Finance Industry Total Financing in the Finance Leasing Industry
Source: Indonesia Financial Services Authority Source: Indonesia Financial Services Authority
Multi-Finance Companies Affiliated With Banks & Authorized Motor Vehicle Manufacturers (as of 31st December 2013)
34
BANKING INDUSTRY Overview of the Banking Industry Net Profit, Credit Card Issuance,Penetration
Net Profit of the Banking Industry 2012 & 2013 Number of Issued Credit Cards
Value of Credit Card Transactions
Only 22 issuers of
credit cards from
Financial
Institutions
Indonesia’s credit card
penetration was
estimated at below
15% vs Malaysia &
Singapore at above
25%
Mixed Foreign State Owned General
2012
2013
Rp3.5 tn Rp4.5 tn Rp5.1 tn Rp6.1 tn
Rp40.8 tn
Rp45.7 tn
Rp92.8 tn
Rp106.7 tn
32%
19%
12%
15%
Source: Indonesia Credit Card Association
35
18%
SECURITIES & CAPITAL MARKET INDUSTRY A Market With Low Penetrations With One of the Best Performing Stock Market in the World
Cumulative Returns of Stock Markets: 2009 to 2013 Number of Listed Companies on the Stock Exchange &
Population 2013
5.3 mn
237.4 mn
66.7 mn
23.3 mn
94.3 mn
30.2 mn
89.6 mn
7.2 mn
126.6 mn
780
490
581
800
256
907
94
1.602
3.431
-
500
1.000
1.500
2.000
2.500
3.000
3.500
4.000
-
50.000.000
100.000.000
150.000.000
200.000.000
250.000.000
Sin
gap
ore
Ind
on
esia
Thai
lan
d
Taiw
an
Ph
ilip
pin
es
Mal
aysi
a
Vie
tnam
Ho
ngk
on
g
Jap
an
Population (M) No. of Listed Co.
223%
178%
121%
95% 82%
76%
62%
43%
9% -5%
Ph
ilip
ines
Ind
on
esia
Mal
aysi
a
Sin
gap
ore
Ind
ia
Ho
ng
Ko
ng
Ru
ssia
Sou
th K
ore
a
Bra
zil
Ch
ina
36
MUTUAL FUNDS & INVESTMENT BANKING INDUSTRY A Growing AUM with Low Penetration Rate
AUM of Mutual Funds in Indonesia (in Rp trillion) Breakdown of Mutual Funds by NAV & by Investment Strategy
2008 2009 2010 2011 2012 2013 2014
Rp74 tn
Rp112 tn
Rp145 tn
Rp167 tn
Rp187 tn Rp193 tn
51%
29%
15%
12%
3% Rp224 tn 16%
44%
9% 9%
14%
18%
5%
Equity
Money Market
Combination
Fixed Income
Protected
Sharia
Source: Infovesta, As of 31st December 2014
37
Synergies
Strong exposure for promotions of products & services Capitalizing on MNC Sky Vision’s 2.6 million subscribers
and increasing by 600,000 per year as well as the client data base from MNC Shop, play media and WeChat.
Benefitting from the expansions of MNC Land.
Properties GROWING BIGGER & STRONGER
Section 4
38
Core Businesses
A proven track record in managing various category of investment properties. Next, the Company is focusing on developing the following segments :
39
LIFESTYLE & ENTERTAINMENT PROPERTY DEVELOPMENT
• Lido Integrated Resort & Theme Park
GENERAL DEVELOPMENT
RESORTS DEVELOPMENT
• Bali Nirwana Resort
• The Westin Resort & Convention Center
• Property Development
• Property Management
• Office Buildings
• Upscale Hotels
• High-rise Residential
• High-end Retail Malls
1
2
3
• Mandalika Resort
MNC Tower The Plaza Grand Hyatt Hotel One East Residences Westin Hotel, Bali
40
Corporate Structure
Nirwana Bali Resort, Golf &
Villa
PT Global Jasa Sejahtera
100%
MNC Financial Center
Sindo Building
PT Lido Nirwana Parahyangan
100%
Lido Lakes Hotel & Resort
MNC Plaza
MNC Tower
High End
The Westin Resort
Nusadua, Bali
Wisma Indovision II
Keraton At The Plaza
MNC Tower Surabaya
PT Bali Nirwana Resort
100%
PT GLD Property 100%
PT Plaza Indonesia Realty Tbk
25.71%
PT Investasi Karya Gemilang
100%
PT Swarna Citra Sentosa
100%
PT Investasi Hasil Sejahtera
100%
One East Residences, Oakwood
PT Nusadua Graha International
39.35%
Indovision Building, Bali
fX Sudirman
Plaza Indonesia
Grand Hyatt Hotel
The Plaza
MNC Media Tower/
Park Hyatt Hotel
9.2%
5,8% 5,4% 5,0% 4,7% 3,9%
1,8%
China Indonesia Vietnam India Malaysia Singapore Thailand
Source : Indonesia Bureau of Statistics 2012
3%
29%
26%
29%
13%
“Indonesia has one of the fastest growing population in the world with one of the highest projected GDP growth”
Population (2013)
Source: World Bank indicators, GDP Growth Rate
0-14 15-29 30-49 50-69
Source : Indonesian Financial Statistics 1Q 2015, Bank Indonesia
Source: World Bank indicators, Population
70+
A Young Population : 80% - Below 50 yr
GDP Growth (2013)
1.357 1.252
250 98 67 30 23 5
41
Well Positioned in a Conducive Growth Environment
Property Credits Distribution (Q1 2015)
42
Jakarta Property Outlook – CBD Office
CBD Cumulative Supply
No of Space Absorbed and Occupancy in the CBD
Source: Colliers International, Jakarta Property Market Report 1Q 2015
Lease Office
Total Supply 4.78 million sqm
Occupancy Level 93.6%
Asking Base Rent IDR 257,543/sqm/mo. ( 4.1% YoY)
Average Service Charge
IDR 92,173/sqm/mo.
Strata-title Office
Total Supply 986,767 sqm
Take-up Rate 97.6%
Average Selling Price IDR 46.9 million/sqm
43
Jakarta Property Outlook – Hotel & Retail
Source: Cushman & Wakefield, Marketbeat Jakarta Retail Snapshot 1Q 2015
Retail Supply by District
Upscale Hotel Trading Performance
Source: Jones Lang Lasalle, Asia Pacific Property Digest 4Q 2014
Retail
Total Supply 3.98 million sqm
Total Demand 3.41 million sqm
Occupancy Level 85.5%
Average Base Rent (Prime Area, GF)
IDR 687,600/sqm/mo.
Base Rent Growth 4.0% YoY
Average Service Charge IDR 132,900/sqm/mo.
Service Charge Growth 8.6% YoY
Hotel
Total Supply 32,372 rooms
Occupancy Level 64.5%
Average Daily Rate USD 176 ( 11.6% YoY)
RevPar USD 115 ( 8.8% YoY)
Surabaya Property Outlook – Apartment
44
Demand and Occupancy Rate
The Distribution of Apartment Units in Surabaya
Source: Colliers International, Surabaya Office Research and Forecast Report 4Q 2014
Source: Colliers International, Surabaya Apartment Research and Forecast Report 4Q 2014
Lease Office
Total Supply 290,598 sqm ( 5.0% YoY)
Occupancy Level 87.3%
Asking Base Rent IDR 91,366/sqm/mo. ( 14.0% YoY)
Average Service Charge IDR 66,827/sqm/mo. ( 23.2% YoY)
Lease Apartment
Total Supply 591 units
Occupancy Level 80%
Asking Rental Rate IDR 199,789/sqm/mo. ( 18.7% YoY)
Apartment Strata-title
Total Supply 18,153 units
Take-up Rate 82.8%
Average Asking Price IDR 17.9 million/sqm
Key Project Highlights
45
LIFESTYLE & ENTERTAINMENT PROPERTY DEVELOPMENT
• LIDO, BOGOR + SUKABUMI up to + 2,000 Ha
RESORTS DEVELOPMENT
• THE WESTIN RESORT & CONVENTION CENTER, BALI 9 Ha
• BALI NIRWANA RESORT 103 Ha
• MANDALIKA RESORT, LOMBOK up to + 750 Ha
46
Lifestyle & Entertainment Property Development
LIDO INTEGRATED RESORT AND THEME PARK
An international quality entertainment and nature based mountain resort offering an unparalleled mix of state of the art Theme Park attractions set within the lush tropical forests of the mountains of West Java
Strategically located in Lido (Bogor), Lido Lakes Resort is currently accessible
through Jagorawi Toll Road and national road as well as by train. A direct toll road
connecting Jagorawi Toll Road to Lido Resort is under construction and expected to
be operational in 2016.
Total land area under possession is 1,800 Ha and planning to expand up to 2,000 Ha.
Existing properties :
Lido Lakes Resort & Conference, a four star resort consists of 105 rooms, tennis
courts and numerous outdoor activities.
18-hole Signature Golf Course designed by Ross Watson.
Huge potential upside on land price showed by the Land ASP of other developments
one hour outside Jakarta:
Location Price/sqm (USD)
• Rancamaya 500 – 700
• Summarecon Bekasi 1,000 – 1,300
• BSD 1,000 – 1,400
• Alam Sutera 1,200 – 1,600
• Summarecon Serpong 1,200 – 1,600
47
LOCATION MAP Lido Integrated Resort and Theme Park
Lido Integrated Resort & Theme Park is located 65 Km away from Jakarta. The site can be reached through Jagorawi Toll Road and through MNC Infrastructure proposed 14 Km Toll Road Ciawi - Sukabumi
Main City Boundary Secondary City Boundary City Center
Toll Road Network
Inter-City Road Network
Proposed Toll Road Network
Main Road
Travel Time by Vehicle
Railway
Project Site
Lifestyle & Entertainment Property Development
48
MASTER PLAN Lido Integrated Resort and Theme Park
Lifestyle & Entertainment Property Development
Appointed WATG as the Master Plan Consultant WATG is a Hawaii-based Master Planner. Over the course of six
decades, WATG has become the world’s leading design consultant for the hospitality, leisure, and entertainment industries.
The whole 2,000 Ha masterplan is divided into following zones
: 1. Entertainment City ( Theme Park) 2. Luxorious High End Resort 3. Wellness Valley 4. Edu City 5. Eco Park 6. Agri Tourism 7. New Town
With ‘Destination’ as a vision in mind, Lido Resort will become
the most integrated entertainment centered and luxurious high-end resort developments in Indonesia.
The first phase of development consists of : 1. Entertainment City (Theme Park) 2. Luxorious High-End Resort
49
Lido Integrated Resort and Theme Park
Lifestyle & Entertainment Property Development
FIRST PHASE DEVELOPMENT
FIRST PHASE DEVELOPMENT – ENTERTAINMENT CITY
Entertainment City
Total land area : 425 Ha The development in this zone will include both attractions and
accomodations, as follows : 1. Theme Parks 2. Themed Resort Hotel 3. Mediapolis 4. Botanical Garden 5. Aqua Park 6. Cultural Village 7. Retail
The size of Entertainment City covers approximately 21% of the
total 2,000 Ha masterplan, thus the development will be carried out in stages. Under phase 1, approximately 60 Ha will be dedicated for theme park and its supporting facilities.
50
FIRST PHASE DEVELOPMENT
Lido Integrated Resort and Theme Park
Lifestyle & Entertainment Property Development
Theme Park
Total area of 75 Ha are dedicated for Theme Park under the first phase development which will include: Theme Park Retail, dining and entertainment area Family themed hotel
A Hollywood based theme park consultant has been
appointed to design the park with 180 artists to create exclusively for the park with an Indonesian based legend and Hollywood story style.
Targeted visitors: domestic and regional visitors with middle
to upper spending level capability.
51
FIRST PHASE DEVELOPMENTS Lido Integrated Resort and Theme Park
Lifestyle & Entertainment Property Development
FIRST PHASE DEVELOPMENT – WORLD CLASS HIGH END DEVELOPMENTS
Project Land Area
Description Construction
Start
18-Hole Golf Course 92 Ha 18-hole world class signature golf course designed to be suitable for a PGA tournament
3Q 2014
Country Club 8.7 Ha
An exclusive country club with round-the-clock concierge services and the facilities to host exclusive events
2Q 2016
High-end Villas 22.3 Ha 200 units of villas with an average land size of 750 sqm
2Q 2016
6-Star Hotel 6.5 Ha
200 luxurious guest rooms, meeting & banquet facility, restaurants and bar, fitness center, family recreational center
2Q 2016
All luxurious high-end resort components will be managed by a world renowned operator based in New York, USA
52
Resorts Development
BALI NIRWANA RESORT Located in Tanah Lot, Tabanan Region with a total area of 103 Ha, Bali
Nirwana Resort is one of the largest integrated resort development in Bali and located only 45 minutes from Bali’s International Airport.
Existing properties :
Nirwana Bali Resort, a five star resort, managed by Pan Pacific.
278 rooms – deluxe, executive suites, villas, presidential suite Dining and entertainment Recreational facilities and spa Meeting and banquet facilities
18-hole Signature Golf Course designed by Greg Norman. Named one of the best golf courses in Asia Pacific and ranked #52 in the world according to Golf Digest, Nirwana Bali Golf Course offers an 18-hole 72-par course with spectacular views of Indian Ocean, rice terraces, and plateau.
In the process of redesigning the whole master plan to include: World Class Hotel Luxurious Villa, and Holiday Apartment Commercial Component Recreational Component World Class Entertainment
53
MASTER PLAN Bali Nirwana Resort
Resorts Development
Hotels Grand Rooms; Meeting and Banguent Facility; International Restaurants; Bar; Fitness Centre; and Family Recreation Center. Residential For Sale Resort Condominiums and World Class Luxurious Villa and Apartment holiday with minimum 200 units. Commercial Component Restaurant and Lounge comprising of Beach Clubs; Retail Market; Cliff Lounge and Pool; Village Restaurant and Night Market. Recretional Component Wellness Medical Spa and Related Amenities. Entertainment Component Luxurious Amphitheater to host international entertainment events and Outdoor Entertaiment; with overall luxury level of the property.
54
Resorts Development
MANDALIKA RESORT Blessed with pristine nature and a well-preserved Natural Heritage, Mandalika Resort will be one of the most prestigious and high-end integrated resorts in Asia. Located in the southern part of Lombok Island, West Nusa
Tenggara.
Part of the newly proposed Special Economic Zones (KEK).
Signed MOU with Bali Tourism Development Corporation (BTDC)
in October 2011.
Total land concession up to 750 Ha, and up to 320 Ha will be
developed in phase 1.
Planning to provide facilities for MICE, Active Waterfront
activities, cultural festivals.
THE WESTIN RESORT & CONVENTION CENTER
The Westin Resort & Convention Center is located in BTDC Complex, Nusa Dua, one of Bali’s premiere luxury resort hotel and conference facilities complex.
Host to international events including Miss World 2013 and APEC CEO Summit Indonesia 2013.
Completed the constructions of additional hotel rooms in 2013, thereby bringing the total number of rooms in operations to 433 rooms.
The Convention Center facilitates up to 26 meeting rooms with 2,700 sqm exhibition space and 2,500 seaters ballroom.
The growth of tourism in Bali is proven by increasing foreign tourists arrival of approximately 15% YoY and reached 3.8 million visitors in 2014.
As of YTD December 2014, occupancy rate reached 79% with guest profile consists of 24% business travelers and 76% leisure.
An exceptionally lavish 5-star resort nestled on a white sandy beach on Bali’s southern coast.
Existing Resort
55
General Development – Ongoing
56
Cost IDR 154Bn IDR 1.29T IDR 658Bn
Architect Kind Wastu Airmas Asri
Land Area 1,424 sqm 101,222 sqm 5,837 sqm
Building Area 12,039 sqm 108,229 sqm 58,507 sqm
Storey 12 stories 18 stories (Global TV)
14 stories (RCTI) 18 stories (MNC TV)
16 stories
Start Date 2013 2011 2011
Completion 2Q 2015 3Q 2015 3Q 2015
Status Construction Construction Construction
The head office and studio for 3 main tv stations owned by MNC : RCTI, Global TV, and MNC TV
3TV Office & Studio West Jakarta
A premium studio and office building to cater the media business of the group
MNC News Center Central Jakarta MNC Tower Surabaya
The base of all MNC business units in the capital of East Java and leased out
commercially
MNC Media Tower Park Hyatt Hotel
Central Jakarta
One East Residences Oakwood Serviced Apartment
One Avenue Retail Arcade Surabaya
Cost IDR 660Bn IDR 2.35T
Architect Airmas Asri Aedas
Land Area 5,042 sqm 7,332 sqm
Building Area 76,415 sqm 102,165 sqm
Storey 33 stories
287 Strata Apt 144 Serviced Apt
39 stories
Start Date 2013 2013
Completion 3Q 2016 4Q 2017
Status Construction Construction
Targeted premium news companies, the tower will be the new landmark of the
city
The cutting edge of mixed-use development in Surabaya
General Development – Ongoing
57
58
MNC Tower & MNC Plaza MNC Financial Center The Plaza High End Building
Location Kebon Sirih,
Central Jakarta Kebon Sirih,
Central Jakarta CBD Jakarta
Kebon Sirih, Central Jakarta
Owner PT GLD Property PT MNC Land Tbk PT Plaza Indonesia Realty Tbk PT GLD Property
Land Area 17,850 sqm 4,222 sqm 6,803 sqm 4,062 sqm
Building Area 80,200 sqm 24,450 sqm 70,880 sqm 5,937 sqm
Storey
29 stories (MNC Tower)
2 stories (MNC Plaza)
22 stories 49 stories 5 stories
Occupancy 100% 100% 100% 99%
General Development – Existing (Office)
59
SINDO Building Wisma Indovision II Indovision Bali Building
Location KH Wahid Hasyim,
Central Jakarta Kebon Jeruk, West Jakarta
Diponegoro, Bali
Owner PT MNC Land Tbk PT MNC Land Tbk PT Investasi Karya Gemilang
Land Area 1,064 sqm 3,297 sqm 2,730 sqm
Building Area 5,127 sqm 10,669 sqm 5,057 sqm
Storey 8 stories 10 stories 4 stories
Occupancy 100% 100% 83%
General Development – Existing (Office)
60
General Development – Existing (Hotel)
Grand Hyatt Keraton
At The Plaza The Westin Resort & Convention Center
Pan Pacific Nirwana Bali Resort
Location CBD Jakarta CBD Jakarta Nusa Dua, Bali Tanah Lot, Bali
Owner PT Plaza Indonesia
Realty Tbk PT Plaza Indonesia
Realty Tbk PT Nusadua Graha
International PT Bali Nirwana Resort
Land Area 12,868 sqm 5,610 sqm 9.3 Ha 9.8 Ha
Capacity 428 rooms 140 rooms 433 rooms 278 rooms
Occupancy 66% 71% 79% 75%
Plaza Indonesia fX Sudirman
Location CBD Jakarta CBD Jakarta
Owner PT Plaza Indonesia Realty Tbk PT Plaza Indonesia Realty Tbk
Land Area 16,049 sqm 11,460 sqm
NLA 65,236 sqm 31,202 sqm
Storey 5 stories 9 stories
Occupancy 98% 92%
General Development – Existing (Retail)
61
Financial Performance MNC Investama Section 5A
(1Q2015 & 1Q2014 Unaudited) (FY2014 & FY2013 Audited)
62
2.068
567 761
2.594
602 840
2.806
652 945
3,203
643 970
Revenue Operating Income EBITDA
1Q2012
1Q2013
1Q2014
1Q2015
BHIT Segmental Overview 1Q2012 – 1Q2015
63
1Q2012 1Q2013 1Q2014 1Q2015
EBITDA Margin 37% 32% 34% 30%
1Q2012 to 1Q2015 Profit & Loss
1Q2012 to 1Q2015 Balance sheets
IDR billion
CAGR +16%
CAGR +4%
CAGR +8%
19.645
6.012
13.633
27.047
7.951
19.096
31.791
13.858 17.933
48.664
25.871 22.793
Total Assets Total Liabilities Total Equity
1Q2012
1Q2013
1Q2014
1Q2015
CAGR +35%
CAGR +63% CAGR +19%
IDR billion
BHIT Consolidated Profit & Loss – 1Q2015 & 1Q2014 (unaudited)
64
• Total revenues grew by 14.2% mainly driven by our strong growth in the media & financial services subsidiaries.
• EBITDA grew by 2.7% and we managed to maintain at 30% EBITDA Margin
• Net loss in 1Q2015 due to higher unrealized forex loss & increase in interest costs on holding Co level & media subsidiary
Revenues/Pendapatan Income from operations/Laba usaha Net Income/Laba bersih* EBITDA
1Q2014 2.805.677 652.086 385.434 944.597
1Q2015 3.202.846 642.884 (207.800) 970.076
(500.000)
-
500.000
1.000.000
1.500.000
2.000.000
2.500.000
3.000.000
3.500.000
In ID
R B
illio
n
Financial Performance for 1Q2015 and 1Q2014 (Unaudited) +14,2%
+2,7%
-1,4% -153,9%
*Attributable to owners of the company
in IDR Billion 1Q2015 1Q2014 ∆ %
Media 2,589 2,344 10.5%
Financial Institutions 327 218 49.6%
Others 287 243 18.0%
Total net revenues 3,203 2,806 14.2%
Income from operations 643 652 -1.4%
EBITDA 970 945 2.7%
Net income* (208) 385 -153.9%
BHIT Segmental Overview FY2011 - FY2014
65
FY2011 FY2012 FY2013 FY2014
EBITDA Margin 34% 36% 36% 35%
7.713
1.940 2,654
9.787
2,739 3,555
11.532
3,068 4,118
12,433
2,960
4,353
Revenue Operating Income EBITDA
2011
2012
2013
2014
FY2011 to FY2014 Profit & Loss
FY2011 to FY2014 Balance sheets
IDR billion
18.875
6.666 12.209
27.254
8.827
18.427
31.749
14.928 16.821
47.531
25.007 22.524
Total Assets Total Liabilities Total Equity
2011
2012
2013
2014
CAGR +36%
CAGR +55% CAGR +23%
CAGR +17%
CAGR +15%
CAGR +18%
BHIT Consolidated Profit & Loss – 2014 & 2013 (Audited)
66
• Total revenues grew by 7.8% mainly driven by our strong Media and financial services subsidiaries .
• Media Subsidiaries : content & advertising based media, Pay Tv, Online Media, & home shopping.
• Financial services subsidiaries : majority from MNC Finance & MNC Life.
• EBITDA grew by 5.7% and we managed to maintain 35% EBITDA Margin YoY
In Billion IDR FY2014 FY2013 ∆ %
Media 10,244 9,500 7.8%
Financial Institutions 996 748 33.2%
Others 1,193 1,284 -7.0%
Total net Revenues 12,433 11,532 7.8%
EBITDA 4,353 4,118 5.7%
Net Income * 195 (344) 156.6%
Revenues EBITDA Net income *
FY2013 11.532 4.118 (344)
FY2014 12.433 4.353 195
(2.000)
-
2.000
4.000
6.000
8.000
10.000
12.000
14.000
In ID
R B
illio
n
Financial Performance for FY2014 and FY2013 (Audited) +7.8%
+156.6%
+5.7%
*Attributable to owners of the company
67
BHIT Segmental Overview – Revenues Contribution, 1Q2015 & 1Q2014 - FY2014 & FY2013
Media 82,4%
Financial
institutions 8.0%
Others 9,6%
Media 82,4%
Financial institutions
6,5%
Others 11.1%
Revenue FY2013 Revenue FY2014
Revenue 1Q2014 Revenue 1Q2015
Media 80.8%
Financial
institutions 10.2%
Others 9.0%
Media 83.6%
Financial institutions
7.8%
Others 8.7%
Financial Performance MNC Media Section 5B
(1Q2015 & 1Q2014 Unaudited) (FY2014 & FY2013 Audited)
68
Consolidated Profit & Loss Statement
PT Global Mediacom Tbk 1Q2015 & 1Q2014
69
Total consolidated revenue increased by 9% for
1Q2015toRp2,657 billion from Rp2,433 billion 1Q2014. The
advertising and content revenue decreasedby 0.4%to
Rp1,453 billion from Rp1,459 billion last year. Subscriber
based media’s revenue grew by 7% YoY to Rp827billion from
Rp775billion; whereas online based media/games revenue
grew by 182% YoY to Rp310billion from Rp110 billion last
year.
The Company’s largest contributor to consolidated
revenue was advertising and content, which accounted for
55% of consolidated revenue.
1Q2015 core EBITDA increased by 3% to Rp871 billion from
Rp847 billion, this increased was mainly driven by higher
revenue. Core EBITDA margin slightly decreased by 200bps
to 33% from 35% last year. The decrease can be attributed to
the increase in operational expenses such as salary expenses
and professional fees.
The Company booked a net income of Rp90billion for
1Q2015, from Rp304billion YoY.The decrease in net income
was mainly due to higher unrealizedf oreign exchange loss
and increase in interest costs.
Cash on hand and equivalent by the end of 1Q2015, the
Company increased its cash and money market instruments
position to Rp1,909billion from same period last year
ofRp1,561 billion.
(In billion Rupiah) 1Q2015 1Q2014 %∆
Revenue
Contribution
Advertising and Content Based Media
1,453 1,459 0% 55%
Subscribers Based Media 827 775 7% 31%
Online Based Media 310 110 182% 12%
Others 67 89 -25% 3%
Total Revenue 2,657 2,433 9% 100%
Operating Expenses 2,099 1,873 12%
Income from Operation 558 560 0%
Net Income 90 304 -70%
EPS 6 23 -74%
Core EBITDA 871 847 3%
Core EBITDA Margin 33% 35% -6%
PT Media Nusantara Citra Tbk
Segmental Overview – 1Q2015 & 1Q2014
70
Total consolidated revenue increased by 1% in 1Q2015
to Rp1,514 billion from Rp1,496 billion in 1Q2014.
The largest contributor to consolidated revenue came
from advertising and content, which accounted for 99% of
total revenue.Advertising increased by 1% to Rp1,498
billion from Rp1,485 billion last year.
Direct cost decreased byRp3 billion in 1Q2015 to Rp719
billion from Rp722 billion in 1Q2014. The decrease was
due to a reduction of programming cost as more programs
were produced by in-house.
General and administrative expenses (G&A) increased
by 0.6% in 1Q2015 to Rp265 billion from Rp251 billion in
1Q2014.
Income from operations increased by 1% in 1Q2015 to
Rp531 billion from Rp524 billion in 1Q2014.
Core EBITDA increased by 1% to Rp571billion from Rp565
billion YoY. Meanwhile, core EBITDA margin was stable at
38%.
For 1Q2015, MNCN net income decreased by 27% to
Rp285 billion from Rp389 billion YoY. The decrease was
due to increases in interest expenses and unrealized loss
on foreign exchange.
(In billion Rupiah) 1Q2015 1Q2014 ∆ % Revenue
Contribution
Advertising and Content 1,498 1,485 1% 99%
Others 16 11 45% 1%
Total Revenues 1,514 1,496 1% 100%
Operating Expenses 983 973 1%
Income from Operations 531 524 1%
Net Income 285 389 -27%
EPS 20 28 -29%
Core EBITDA 571 565 1%
Core EBITDA margin 38% 38% 1%
PT MNC Sky Vision Tbk
Summary of Financial Performance 1Q2015 & 1Q2014
71
Revenue for 1Q2015 increased by 7% to Rp827 billion from
Rp775 billion last year. The slower growth in revenue was mainly
due to a soft purchasing power especially for non-primary needs.
EBITDA for 1Q2015 increased by 8% to Rp328.01 billion from
Rp303.29 billion on 1Q2014, with an EBITDA margin of 40%.
Net Income (Loss): The Company recorded a net loss of
Rp130.02 billion for 1Q2015, from 1Q 2014 net income of
Rp135.76 billion. The loss was due to the unrealized foreign
exchange loss.
Total subscribers as of March 2015 reached 2.53 million;
representing a 5.1% YoY increase from last year’s 2.41 million. The
soft growth in subscribers net add is due to weak consumer
spending across all industries. In addition, the Company continues
to clean up the non-paying subscribers. Churn rate was recorded
at 1.7% for 1Q2015. The Company’s ARPU was recorded at
Rp101,174 for 1Q2015.
During 1Q2015, MSKY expanded its channel portfolio with three
new channels: Fight Sports, Food Network and ISL. Fight Sports
channel is a dedicated for the broadcast of major martial arts
fighting events around the world. Food Network is a new addition
to MSKY’s lifestyle channels portfolio that explores culinary arts
around the world. ISM is a dedicated channel for the Indonesian
Soccer League’s avid fans. MSKY now airs 144 channels across
its platforms and the Company aims to add 3-5 more channels this
year. MSKY is maximizing its satellite capacity and plans to
complete its MPEG-2 to MPEG-4 migration by the end of 2015.
(In billion Rupiah) 1Q 2015 1Q 2014 ∆ %
Revenues 827 775 7%
Operating Expenses 773 708 9%
Income from Operation 54 67 -21%
Net Income (Loss) (130) 136 -196%
EBITDA 328 303 8%
EBITDA Margin 40% 39%
1Q 2015 1Q 2014 ∆ %
D&A 275 236 16%
Interest Expense (63) (44) -44%
Forex Gain (Loss) (164) 148 -210%
Total 48 340 -86%
Total Subscribers (in 000) 2,529 2,406 5%
PT Global Mediacom Tbk
Segmental overview, Revenues Contribution – FY2014 & FY2013
72
Revenue FY2013 Revenue FY2014
FY2014 FY2013
PT Global Mediacom Tbk
Segmental Overview – FY2011 – FY2014
73
FY2011 to FY2014 Financials
FY2011 to FY2014 Solvency Metrics
IDR trillion
CAGR +14%
CAGR +15%
CAGR +14%
22%
6.93
36%
24%
10.4
38%
32%
9.2
38%
45%
10.4
37%
2011
2012
2013
2014
7,16
15,11
10.82 8,93
19.99
14.30
10,02
21.07
13.35
10,66
25.37
15.87 2011
2012
2013
2014
Consolidated Profit & Loss Statement
PT Global Mediacom Tbk FY2014 & FY2013
74
The revenue increase was driven by
subscriber based media and online based
media/games. For FY2014 subscription
revenue grew by 9% to Rp3,277 billion from
Rp3,018 billion last year, whereas online based
media/games revenue grew by 115% to Rp621
billion compared to last year Rp289 billion.
Sales revenue from media shopping increased
by 25% to Rp106 billion from Rp85 billion last
year. Content and Channel revenue increased
by 15% to Rp195 billion from Rp170 billion last
year.
The Company’s net income for FY2014 is
Rp705 billion, increased by 14% from Rp620
billion YoY. The increase in net income was
mainly due to lower forex loss and decreasing
interest cost.
Cash on hand and equivalent: at the end of
FY2014, the Company lowered its cash and
money market instruments position to Rp1,485
billion from Rp1,530 billion at year end 2013.
(In billion Rupiah) 12M 2014 12M 2013 %∆ Revenue
Contribution 12M2014
Advertising Revenues 6,151 6,023 2% 58%
Subscribers Based Media 3,277 3,018 9% 31%
Online Based Media 621 289 115% 6%
Media Shopping 106 85 25% 1%
Content and Channel 195 170 15% 2%
Others 307 435 -29% 3%
Total Revenue 10,657 10,020 6% 100%
Operating Expenses 7,980 7,163 11%
Income from Operation 2,677 2,857 -6%
Net Income 705 620 14%
EPS 52 45 16%
Core EBITDA 3,917 3,823 2%
Core EBITDA Margin 37% 38%
PT Media Nusantara Citra Tbk
Segmental Overview – FY2014 & FY2013
75
(In billion Rupiah) FY2014 FY2013 %∆ Revenue
Contribution
Advertising Revenues 5,922 5,715 4% 89%
Content 325 271 20% 5%
Others 418 536 -22% 6%
Total Revenues 6,666 6,522 2% 100%
Operating Expenses 4,062 3,962 3%
Income from Operations 2,604 2,560 2%
Net Income 1,762 1,691 4%
EPS 126 121 4%
Core EBITDA 2,779 2,721 2%
Core EBITDA margin 42% 42% 0%
RCTI remain at the number 1 position and not
just focusing on the audience share but the total
revenue share that has generated an industry-
leading power ratio of 1.3x (revenue share
divided by audience share) and still designating
RCTI as the most preferred tv station for
advertisers.
RCTI was also by far the most profitable TV
station. The station generated Rp1,797 billion in
EBITDA in 2014. It also has the industry leading
EBITDA margins of 54%. RCTI EBITDA Margin
is 4% higher than the number 2 player.
FY2014 core EBITDA is Rp2,779 billion, an
increase of 2% from Rp2.721 billion YoY.
Moreover, core EBITDA margin stable at 42%,
despite muted revenue growth.
For FY2014, the Company’s net income is
Rp1,762 billion, an increase of 4% from Rp1,691
billion YoY.
EPS increased 4% to Rp126 from Rp121 in the
PT Media Nusantara Citra Tbk,
Segmental Overview FY2011 - FY2014
76
5.39
1.79
8.80
6.83 6.27
2.38
8.96 7.29
6.52
2.72
9.62 7.74
6.67
2.78
13.61
9.39
Revenue EBITDA Assets Equity
2011
2012
2013
2014
CAGR +16%
CAGR +11%
Source: Company Financials
FY2011 - FY2014 Financials
FY2011 - FY2014 Solvency Metrics
IDR trillion
12% 11.66X
33%
40%
51%
10%
55.83X
38% 43%
50%
7%
66.23X
42% 46%
52%
34%
47.73X 42%
48% 54%
Debt/Equity EBITDA/Interest EBITDA Margin 3 TV EBITDA Margin RCTI EBITDA Margin
2011
2012
2013
2014
CAGR +7%
CAGR +16%
PT MNC Sky Vision Tbk
Summary of Financial Performance FY 2014 & FY 2013
77
Total revenue FY2014 was Rp 3.28 trillion, an
increase of 9% from last year’s Rp 3.02 trillion.
The increase was driven by subscribers
growth of 10%.
MSKY’s total subscribers FY2014 reached
2.53 million, representing a 10% YoY increase
from 2.30 million as of FY2013. Overall, the
Company’s subscriber net adds averaged
20,000 subs/monthly, with avg monthly
churn rate at 1.36%. MSKY’s ARPU was
recorded at Rp 101,247 per end of 2014.
EBITDA in 2014 was at Rp 1.26 trillion, an
increase of 4% from Rp 1.21 trillion, with
EBITDA margin of 38%.
Net Income (Loss): The Company recorded
net loss of Rp 154 billion in 2014, an
improvement compared to the net loss of Rp
487 billion in 2013.
(In billion Rupiah) FY 2014 FY 2013 ∆%
Revenues 3,279 3,020 9%
Operating Expenses 3,034 2,580 18%
Income from Operation 245 439 -44%
Net Income (Loss) (154) (487) 68%
EBITDA 1,258 1,214 4%
EBITDA Margin 38% 40%
FY 2014 FY 2013 ∆%
D&A 1,013 775 31%
Interest Expense (266) (394) 32%
Forex Gain (Loss) (168) (636) 74%
Total 578 (255) 327%
Total Subscribers (in 000) 2,529 2,300 10%
PT MNC Sky Vision Tbk
Financial Performance from FY2011 - FY2014
Source: Company Financials 78
1,74
0,73
3,45
0,96
2,39
1,00
4,94
2,26 3,02
1,21
5,94
1,75
3,28
1,26
5,88
1,59
Revenue EBITDA Assets Equity
2011
2012
2013
2014
CAGR +24%
CAGR +20%
CAGR +19%
CAGR +18%
FY2011 -FY2014 Financials
FY2011 - FY2014 Solvency Metrics
IDR trillion
2,31 1,75
3,55
42%
1,55
0,69
4,81
42%
2,34 1,63
5,51
40%
2,34 1,85
7,14
38%
Debt/EBITDA Debt/Equity EBITDA/Interest EBITDA Margin
2011
2012
2013
2014
Financial Performance MNC Kapital Section 5C
(1Q2015 & 1Q2014 Unaudited) (FY2014 & FY2013 Audited)
79
80
1Q2012 1Q2013 1Q2014 1Q2015
EBITDA Margin 46% 27% 32% 29%
PT MNC Kapital Indonesia Tbk. BCAP Segmental Overview Performance 1Q2012 – 1Q2015
143
63 65
161
40 43
237
72 75
338
87 98
Revenue Operating Income EBITDA
1Q2012
1Q2013
1Q2014
1Q2015
CAGR +15%
CAGR +33%
CAGR +11%
IDR billion
1.588 1.022 566 2.983 2.204
779
3.567 2.784 783
15.913
11.939
3.974
Total Assets Total Liabilities Total Equity
1Q2012
1Q2013
1Q2014
1Q2015
CAGR +116% CAGR +127%
CAGR +91%
IDR billion
81
Audited Consolidated Income Statements 1Q2015 &1Q2014 (unaudited)
PT MNC KAPITAL INDONESIA Tbk.
*) Attributable to owners of company
In Billion Rupiah Revenues grew by 43% to about Rp337.7
billion from Rp236.8 billion as of 1Q2014.
Approximately 30% of consolidated revenues
were generated from MNC Finance, 25% from
MNC Bank and 17% from MNC Life
Insurance, 13% from MNC Securities, 8%
from MNC Insurance, 4% from MNC Asset
Management, 2% from MNC Leasing while
MNC Kapital Indonesia as the Holding
Company contributed 1% to consolidated
revenues.
EBITDA as of 1Q2015 increased by 30% to
approximately Rp97.7 billion from Rp75.2
billion as of 1Q2014
EBITDA Margin as of 1Q2015 was 28.9%
As of 1Q2015, net income* grew by 128% to
Rp35.8 billion from Rp15.7 billion as of
1Q2014.
in IDR billion 1Q2015 1Q2014 ∆ %
Net premium income 72.8 74.2 -2%
Financing income and operating lease 80.1 75.6 6%
Interest & dividends 97.4 9.9 885%
Murabahah income 24.5 19.3 27%
Investment banking income (loss) 34.5 31.9 8%
Brokerage commissions 13.6 8.6 58%
Investment management fees 8.5 13.0 -34%
Al ijarah lease income - net 6.3 4.2 49%
Total net revenues
337.7 236.8 43%
EBITDA 97.7 75.2 30%
Net income* 35.8 15.7 128%
82
2011 2012 2013 2014
EBITDA Margin 30% 37% 24% 28%
PT MNC Kapital Indonesia Tbk. BCAP Segmental Overview Performance 2011 - 2014
341
93 103
661
235 253
718
157 170
1.039
264 288
Revenue Operating Income EBITDA
2011
2012
2013
2014
CAGR +41%
CAGR +45%
CAGR +42%
IDR billion
1.516 1.000 516
3.429 2.660 769
3.465 2.699 766
15.016
11.146
3.870
Total Assets Total Liabilities Total Equity
2011
2012
2013
2014
CAGR +115% CAGR +123%
CAGR +96%
IDR billion
83
Audited Consolidated Income Statements– Per FY2014 & FY2013 (Audited)
PT MNC KAPITAL INDONESIA Tbk.
*) Attributable to owners of company
In Billion Rupiah In IDR Billion FY2014 FY2013 % ∆
Net premium income
358.8
256.2
40%
financing and operating lease
318.8
269.7
18%
Interest and dividends
107.0
44.3
141%
Murabahah income
82.6
44.1
87%
Investment banking income (loss)
64.0
(39.5)
162%
Brokerage commissions
47.0
58.1
(19%)
Investment management fees
41.8
74.5
(44%)
Al - Ijarah lease income - net
19.0
10.0
89%
Total Revenues 1,039.9 717.6
45%
EBITDA 287.6 170.0
69%
*Net Income 25.2 5.6
346%
As of FY2014, net income grew by 346% to Rp25.2
billion from Rp5.6 billion as of FY2013.
Total consolidated revenues grew by 45% to about Rp1
trillion from Rp717.6 billion as of FY2013. Approximately
41% of consolidated revenues were generated from MNC
Finance, 27% from MNC Life and 12% from MNC
Insurance. MNC Bank contributed 7%, MNC Aset
Management contributed 4% while MNC Securities
contributed 3% to consolidated revenues.
EBITDA as of FY2014 increased by 69% to approximately
Rp287.6 billion from Rp170 billion as of FY2013.
EBITDA margin as of FY2014 improved to 27.7% from
23.7% as of FY2013.
Total assets as of FY2014 increased significantly by
333% to about Rp15 trillion from Rp3.5 trillion as of
FY2013.
Total equity grew by 405% as of FY2014 to become
Rp3.9 trillion from Rp765.9 billion as of FY2013;
84
BCAP Segmental Overview – Revenues Contribution, 1Q2015 & 1Q2014 - FY2014 & FY2013
Revenue FY2013 Revenue FY2014
Revenue 1Q2014 Revenue 1Q2015
REVENUES CONTRIBUTION
85
FY2014
MNC Kapital Indonesia (Holding)
MNC Life
MNC Insurance
MNC Finance
MNC Asset Management
MNC Securities
MNC Bank
6%
4%
7%
27%
12%
41%
3%
1Q2015
Financial Performance MNC Land Section 5D
(1Q2015 & 1Q2014 unaudited) (FY2014 & FY2013 Audited)
86
87 87
Financial Highlights 1Q2013 – 1Q2015
1Q2013 to 1Q2015 Unaudited Financials
(In IDR Billion)
88
28 15
186
58 49
268
111 130
Revenue EBITDA Net Profit
3M 2013 3M 2014 3M 2015
2.766
532
2.233
9.956
1.540
8.416
10.137
2.015
8.122
Total Assets Total Liabilities Total Equity
3M 2013 3M 2014 3M 2015
88
Financial Highlights 1Q2013 – 1Q2015
1Q2014 1Q2015 1Q2014 1Q2015
1Q2013 to 1Q2015 Solvency Metrics
Revenue Contribution by Sector EBITDA Comparison
54%
15% 4%
28%
Hotel, resort, golf
Offices
Security & other services
Apartment & other properties
30%
17% 2%
51%
Hotel, resort, golf
Offices
Security & other services
Apartment & other properties
80%
16%
4%
21%
77%
2%
485%
24% 32%
608%
18% 31%
692%
25% 41%
EBITDA/Interest Debt/Equity EBITDA Margin
1Q2013 1Q2014 1Q2015
89
Financial Highlights FY2012 – FY2014
FY 2012 to FY 2014 Audited Financials
(In IDR Billion)
409
108 158
588
104 191 207
350
Revenue Operating Profit EBITDA
2012 2013 2014
1.013
2.729
517
2.212
7.361
1.264
6.097
9.965
1.946
8.019
Total Assets Total Liabilities Total Equity
2012 2013 2014
90
Financial Highlights FY2012 – FY2014
FY2012 to FY2014 Solvency Metrics
Revenue Contribution by Sector EBITDA Comparison
813%
23% 39%
620%
21% 33%
576%
24% 35%
EBITDA/Interest Debt/Equity EBITDA Margin
2012 2013 2014
91
Financial Performance Summary
* Net Profit attributable to owners of the Company
In IDR Billion 1Q2015 1Q2014 YoY Growth 2014 2013 YoY Growth
Revenues 268 186 44% 1,013 588 72%
Hotel, resort and golf 144 148 -3% 663 440 51%
Office space rental 40 29 36% 128 118 8%
Security and other services 10 8 21% 35 30 18%
Apartment & other properties 75 - - 187 - -
Gross Profit 140 87 60% 483 260 85%
Operating Profit 72 28 156% 207 104 99%
EBITDA 111 58 93% 350 191 83%
Net Income* 130 49 162% 387 278 39%
Total Assets 10,137 9,956 2% 9,965 7,361 35%
Total Liabilities 2,015 1,540 31% 1,946 1,264 54%
Total Equity 8,122 8,416 -3% 8,019 6,097 32%
Gross Profit Margin 52% 47% 48% 44%
EBITDA Margin 41% 31% 35% 33%
Net Profit Margin 48% 27% 38% 47%
Debt to Equity 25% 18% 24% 21%
PT MNC Investama Tbk MNC Tower21st Floor
Jl Kebon Sirih No 17-19 Jakarta 10340, Indonesia
Tel: 62-21 3922949 Fax: 62-21 3910454
For further information, please contact Investor Relations Division:
Robert Satrya – SVP, Group Head Investor Relations
robert.satrya@mncgroup.com
Investor Relations :
Ezra Saleh
ezra.saleh@mncgroup.com
Investor Relations Division
Email : investor.relations@mnc-corporation.com
Website : www.mnc-corporation.com
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