CEMENTING USTAINABLE ROWTH - Semen · PDF fileStriving to maximize value 2 THE COUNTRY & INDONESIAN CEMENT INDUSTRY AT A GLANCE GEOGRAPHY Area : 1,922,570 km2 Capital

CEMENTINGUSTAINABLE ROWTH

DECEMBER 2009DECEMBER 2009

Striving to maximize value 1

AGENDA

I. Indonesia: Country & Cement Industry Profile

II. Corporate Profile

III. Market Update

IV. Financial Update

V. Strategic Projects

VI. Environmental Focus

VII. Future of Indonesia’s Cement Industry

VIII.Appendix


THE COUNTRY & INDONESIAN CEMENT INDUSTRY AT A GLANCEGEOGRAPHY Area : 1,922,570 km2

Capital City : Jakarta Number of Islands : More than 8,500 islands Significant Islands : Java, Sumatera, Kalimantan Sulawesi, Papua

DEMOGRAPHY• Populations (June 2009) : 230 Millions• Population Growth : 1.3% p.a.

ECONOMY 2008 2009F 1) 2010F 1)

• GDP Per Capita 2) :• Annual GDP Growth :• Annual Inflation rate :• BI Rate (year end) :•US$ Exchange Rate (year end) :

CEMENT INDUSTRY 2008 2009F 3) 2010F 3)

• Production Capacity :• Domestic Growth :• Domestic Utilization :• Supply

Domestic : Export : Import 4) :

2,324 US$6.1%11.0%9.3%Rp10,950

2,193 US$4.5%3.9%6.5%Rp9,700

2,616 US$5.4%5.9%6.7%Rp9,549

46.62 mio tons11.5%82%

38.09 miotons4.93 mio tons1.53 mio tons

51.00 mio tons0%75%

38.09 miotons4.50 mio tons-

52.50 mio tons5.0%76%

40.00 miotons3.60 mio tons-1) Based on median of City, Danareksa & Bahana Research Institute

2) Based on Citigroup Global Market Research3) Based on Deutsche’s forecast4) Imported cement by PT Semen Andalas Indonesia which its cement plant now is being under reconstruction


Singapore

Kuala Lumpur

SGG

11

22 33

44

55

66

77

88

99

Semen Andalas IndonesiaLhok Nga, Nanggroe Aceh D.Cap. 1.6 mn tons(under reconstruction)

Indocement Tunggal PerkasaJakartaCap. 17.1 mn tons

Semen TonasaSouth Sulawesi, Cap. 3.5 mn tons

Semen PadangWest Sumatera, Cap. 5.9 mn tons

Holcim IndonesiaJakartaCap. 7.9 mn tonsSemen Bosowa MarosMaros, South SulawesiCap. 1.8 mn tons

Semen BaturajaPalembang, South SumateraCap. 1.25 mn tons Semen Gresik

East Java, Cap. 8.6 mn tons Semen KupangKupang, East Nusa TenggaraCap. 0.57 mn tons

1.1.

2.2.3.3.

4.4.

5.5.

6.6.

7.7.

8.8.

9.9.

INDUSTRY STRUCTURE AND PLANTS LOCATION

PT Semen Gresik (Persero) Tbk.Total Cap. 18,0 mn tons

PT Semen Gresik (Persero) Tbk.Total Cap. 18,0 mn tons

SEMEN GRESIK GROUP: STRATEGIC LOCATIONS THROUGHOUT THE ARCHIPELAGO


SGG*): HIGHEST OVERALL CAPACITY AND CAPACITY UTILIZATION IN INDONESIA

SGG has highest overall capacity

The utilization rates are the best in

the local industry

Wide geographical coverage through

dispersed factories

COMPARISON WITH PEERS (2008 Cement Production – Domestic Utilization)COMPARISON WITH PEERS (2008 Cement Production – Domestic Utilization)

82%46,620,000-INDUSTRY

66%3,620,000-Others

67%7,900,000Narogong and Cilacap (Central Java)Holcim

70%17,100,000Citeureup (West Java), Tarjun (South Kalimantan)Indocement TP

92%18,000,000Java, Sumatera, SulawesiSGG Total Capacity

91%3,500,000Pangkep (South Sulawesi)• Semen Tonasa

87%5,900,000Indarung (West Sumatera)• Semen Padang

97%8,600,000Gresik & Tuban (East Java)• Semen Gresik

Utilization (%)Capacity (tons)LocationCompany

KEY HIGHLIGHTSKEY HIGHLIGHTS

*) Semen Gresik Group*) Semen Gresik Group


AGENDA



III. Market Update





VIII.Appendix


1957: Inauguration of Gresik I 1991: Initial Public Offering, Market Cap IDR0.63tn, resulting shareholding post IPO:

• Government of Republic of Indonesia: 73% • Public: 27%

1995: Acquisition of PT Semen Padang (Persero) and PT Semen Tonasa (Persero) 1998: Cemex became a strategic partner by buying a 14% stake, Market Cap IDR 4.9tn 1999: Cemex upsized its stake to 25% by end 1999 2005: Total installed production capacity: 16.92mm t.p.a., Market Cap IDR 10.6tn 2006: Blue Valley Holdings bought Cemex’s 24.9% stake in SGG, Market Cap IDR 21.5tn 2008: Total Installed Capacity: 18.00mm t.p.a, Market Cap IDR 24.8tn 2009: Targeted total installed cap: 19.00mm, Market Cap per Sept 30, 2009: IDR 37.4tn

Blue Valley Holdings Pte. Ltd. (24.90%)

Public (24.09%)

The Government of the Republic of Indonesia (51.01%)

PT Semen Gresik (Persero) Tbk.

PT Semen Padang(99.99%)

PT Semen Tonasa(99.99%)

Six subsidiaries Non-cement producers

BRIEF HISTORYBRIEF HISTORY

OWNERSHIP STRUCTURE1OWNERSHIP STRUCTURE1

SGG IS THE #1 CEMENT COMPANY IN INDONESIA

¹ As Sept 30, 2009

0,0

5,0

10,0

15,0

20,0

1957

1980

1980

1984

1985

1986

1994

1996

1997

1998

2006

2007

2008

2009

SGG CAPACITY BUILD-OUT (MM TONS)SGG CAPACITY BUILD-OUT (MM TONS)

Current capacity = 19.0 mm tons

Five subsidiaries Non-cement producers


SGG’s COMPARATIVE & COMPETITIVE ADVANTAGE

Broadest footprint of plants and distributors

in Indonesia

GEOGRAPHIC SCOPE

Superior product quality through production and operational excellence

TECHNICAL CAPABILITIES

Highest plants utilisationin Indonesia

ASSET UTILISATION

Deep relationships with distributors to serve the retail and bulk markets

DISTRIBUTION NETWORK

Superior customer service via consistency in

product and delivery

CUSTOMER REPUTATION

High operating margins plus disciplined financial

management

FINANCIAL STRENGTH

SGGSGG


BY ADOPTING THE MARKET LEADERSHIP POSITION IN INDONESIA, SGG HASDRIVEN SIGNIFICANT VALUE INCREASE

Cost leadership EBITDA

Distribution leadership Market share

Brand leadership Price

Service leadership Customer loyalty


AGENDA



III. Market Update





VIII.Appendix


MARKET UPDATE (Cement Sales up to 11M2009)

0.116,185,67116,207,110GRAND TOTAL

(36.0)955,490611,369Total Export

(47.1)105,09355,548- Tonasa

(34.6)850,397555,821- Padang

---- Gresik

EXPORT:

2.415,230,18115,595,741Total Domestic

15.02,919,8803,359,072- Tonasa

(2.8)4,677,2864,546,974- Padang

0.77,633,0157,689,695- Gresik

DOMESTIC:

CHANGE (%)11M200811M2009DESCRIPTION

SMGR Sales Volume (Tons)

(17.6)664,336547,566Yogyakarta

(1.5)4,720,2174,649,905East Java

(3.0)39,550,04938,375,351GRAND TOTAL

(17.5)4,587,4813,784,539Total Export

(14.6)3,039,0982,593,913Export Clinker

(23.1)1,548,3831,190,626Export Semen

(1.1)34,962,56834,590,812TOTAL INDONESIA

(5.0)788,009748,612Maluku & Papua

4.61,867,5851,954,407Nusa Tenggara

(1.9)2,257,2172,214,885Kalimantan

15.12,388,8882,748,465Sulawesi

(3.0)8,185,7527,940,570Sumatera

(2.5)19,475,11718,983,872Total Java

1.43,983,1434,037,694Central Java

0.54,902,9944,928,837West Java

(12.2)1,880,8061,650,642Banten

(4.6)3,323,6213,169,228Jakarta

CHANGE (%)11M200811M2009DESCRIPTION

Industry Sales Volume (Tons)


MARKET BY GEOGRAPHY (11M2009)

Domestic Consumption – Java remains as the largest market*)

23%

8%6%

6% 2%

East of Indonesia

Nusa Tenggara

Kalimantan

SulawesiJava55%

Sumatera

Indocement

Domestic Market Share*)

*)Source: ASI (Indonesia Cement Association)

*)Source: ASI (Indonesia Cement Association) 11.313.529.945.2TOTAL INDONESIA

8.01.111.779.16. EASTERN IND.

14.43.039.742.85. NUSA TENGGARA

9.06.924.659.34. KALIMANTAN

20.50.113.765.63. SULAWESI

30.58.415.345.72. SUMATERA

2.019.938.739.31. JAVA

OTHERSHOLCIMINTPSMGR

MARKET SHARE (%)REGION

SG

SP

ST

1

2

3

4

5

6


AGENDA



III. Market Update





VIII.Appendix


22.39,2137,530Total Equity

22.111,7359,610Total Assets

34.42,4081,791Net Income

21.43,3792,783EBITDA

12.65,6475,014Cost of Revenue

25.74,7573,784Gross Profit

36.0410302EPS (full amount)

27.73,0592,396Operating Income

22.31,6981,388Operating Expenses

18.310,4048,798Net Revenue

Change (%)9M099M08

(restated)

Description(Rp bn)

FINANCIAL SUMMARY (9M2009 RESULTS)EBITDA (Rp billion)EBITDA (Rp billion)

EBITDA Margin (%)EBITDA Margin (%)

32.5%31.6%29.2%27.1%26.0%

9M099M089M079M069M05

3.379

2.783

2.0631.760

1.422

1000

1500

2000

2500

3000

3500

9M05 9M06 9M07 9M08 9M09

NET INCOME (Rp billion)NET INCOME (Rp billion)2.408

7061.027

1.272

1.791

400

800

1200

1600

2000

2400

9M05 9M06 9M07 9M08 9M09

NET INCOME Margin (%)NET INCOME Margin (%)

23.1%20.3%17.9%15.8%12.9%

9M099M089M079M069M05


FOCUS ON REVENUE AND COST MANAGEMENT

435,376435,376

116,431

60,528

42,152

63,627

113,606

39,031

9M09

14.414.4380,692380,692COGSCOGS

24.091,618Fuel

19.350,753Transport.

13.9102,249Other

(1.5)42,801Maintenance

5.860,142Electricity

17.833,128Packaging

CHANGE (%)9M08COGS / Ton

250000

350000

450000

550000

650000

750000

850000

3M2008 6M2008 9M2008 FY2008 3M2009 6M2009 9M2009

Domestic ASP 2008/2009 COGS per ton 2008/2009

816,240

9M09

19.4683,660Rp/Ton

CHANGE (%)9M08Domestic

Revenue/Ton


7532

8728

9601

12210

28923328

4001

5355

965

2397

1412

6068

2061

1539 1779

3387

19992234

2849

3867

5091002 1296

17752524

0

2000

4000

6000

8000

10000

12000

2004 2005 2006 2007 2008

Revenue Gross Profit

Operating Profit Ebitda

Net Profit

22%

12%

49%

29%

37%

27%

19%

CAGR(2004 – 2008)

Total Equity

Total assets

Net profit

EBITDA

Operating profit

Gross Profit

Revenue

(Rp billions)

SGG HAS EXPERIENCED ROBUST FINANCIAL GROWTH


CONSISTENT REVENUE GROWTH WITH STRONG BALANCE SHEET

Revenue—last 5 years (IDR bn) Sales volumes—last 5 years (mm tons)

Cash balance (IDR bn) Total debt (IDR bn)

5,6146,933

8,163 8,948

11,760

454

599

565653

450

2004 2005 2006 2007 2008

Domestic Sales Export Sales CAGR(04—08)

(0.2%)

20%13.3 14.3 15.0 15.2 16.7

2.3 2.1 1.8 1.81.0

2004 2005 2006 2007 2008

Domestic Export

(19%)

6%

CAGR(04—08)

Note: Sales volumes include cement and clinker volumes

1,929

3,8362,939

9081,424

2004 2005 2006 2007 2008

CAGR (04—08) 43%

180

1,217854

224 159

2004 2005 2006 2007 2008

CAGR (04—08) -38%

* Include short term investment


SOLID CREDIT METRICS

Debt/EBITDA EBITDA/interest

27.8x

245.0x

12.7x5.9x

147.6x

2004 2005 2006 2007 2008

Debt/capital

11%12% 9%

66%

46%

2004 2005 2006 2007 2008

Debt/equity

0.19x0.33x

0.02x0.04x 0.02x

2004 2005 2006 2007 2008

0.40x

0.90x

0.05x0.10x 0.06x

2004 2005 2006 2007 2008


*) Adjusted to stock split 1:10 on August 2007Source: I/B/E/S mean estimatesNote: Actual numbers are reported number on the year of announcement

SUSTAINABLE EPS GROWTH VS. ANALYST ESTIMATES *)SUSTAINABLE EPS GROWTH VS. ANALYST ESTIMATES *)

SGG HAS BEEN ABLE TO OUTPERFORM MARKET EXPECTATIONS

ACTUAL EPS CAGR (2002-2008): 60%

59 51,474,3

121

215

283

355

26

6386

169

218

299

426

0

50

100

150

200

250

300

350

400

2002 2003 2004 2005 2006 2007 2008 2009

Consensus analyst EPS forecasts Actual EPS(IDR) 485485


1,7%2,5% 3,0% 2,7%

5,2%

2004 2005 2006 2007 2008

Average: 3,0% 5,4%

3,1%

5,2%

0%

JSX

Top-

20 *)

INTP SMCB SGG

SGG DIVIDEND YIELD IN THE LAST 5 YEARS 1)SGG DIVIDEND YIELD IN THE LAST 5 YEARS 1)

Note:Based on median of Top-20 JSX listed companies in dividend yield, excluding Semen Gresik for FY2008

2008 DIVIDEND YIELD 1)2008 DIVIDEND YIELD 1)

REGULAR DIVIDENDSREGULAR DIVIDENDS

Key determinants of dividend policy: Historical dividend payout trends Comparison with peers Projected cash-flows available for dividends (after taking into account

potential expansionary capex etc) Analyst and investor expectations Shareholder profile

SGG HAS BEEN ABLE TO DELIVER HIGH DIVIDEND YIELD

1) shares price based on closing price at the end of year


AGENDA



III. Market Update





VIII.Appendix


INVESTMENT COSTS OF STRATEGIC PROJECTS

US$ 708TOTAL CAPEX

1.6311470Sub Total

1.63201120081142 x 35Sulawesi

CompletedStart

Investment US$ mn/MW

ConstructionInvestment (US$ mn)

Capacity (MW)

Power Plants Location

1195945.0Sub Total

116201120082902.5Sulawesi

122201220083042.5Java

CompletedStart

Investment US$/Tons

ConstructionInvestment (US$ mn)

Capacity (mn tons)

New Plants Location

These strategic projects will ensure sustainability of the Company’s market leadership


PROGRESS OF CEMENT & POWER PLANTS PROJECT - Status of OCT 15, 2009

Description Weight Planning Actual

Preparation 1.57% 48.55% 49.28%

Management 3.05% 18.22% 27.94%

Engineering 4.53% 15.38% 28.40%

Procurement 60.19% 15.47% 15.15%

Construction 28.67% 2.44% 0.97%

Commissioning 1.99% 0.00% 0.00%

Total 100 % 12.03% 12.31%

Progress of Tonasa V Cement Plant ProjectDescription Weight Planning Actual

Preparation 3.09% 23.16% 21.84%

Management 3.45% 20.31% 18.17%

Engineering 4.35% 16.08% 14.02%

Procurement 59.97% 10.46% 11.69%

Construction 27.27% 0.95% 0.82%

Commissioning 1.88% 0.00% 0.00%

Total 100 % 8.65% 9.15%

Progress of Tuban IV Cement Plant Project

Description Weight Planning Actual

Preparation 5.00 30.60% 30.00%

Management 5.00 16.00% 16.00%

Engineering 4.00 26.50% 26.50 %

Procurement 45.0 0.08% 0.078%

Construction 35.0 0.00% 0.00%

Commissioning 6.00 0.00% 0.00%

Total 100 3.42% 3.39%

Progress of Power Plant Project - Tonasa 2 x 35 MW

New Power Plant Site Pilling Works - Completed


PROJECTION PRODUCTION CAPACITY (Mio Ton)

20.0

24.027.0

11.18.2 8.6 9.0 9.1 9.4 13.2

6.7

6.4

6.3

5.4 5.9 6.35.9

4.14.13.53.5

4.36.5

7.1

2007 2008 2009F 2010F 2011F 2012F 2013F

SG

SP

ST

17.118.0 19.0

19.5


Detailed capex schedule (US$ mm)Detailed capex schedule (US$ mm)

Uses of fundsUses of funds

55

30.67

64.82

2 6 5 637 37 41

31

5

68

264

230

27

14

24

66

5

5

68

7

7 7440

222

402383

102

56 57

339 72917

3034

2659 22

10

108

5

2008 2009 2010 2011 2012 2013 2014

HCMP & ICTMandatoryPower plants (under review)Capacity exp.OthersKeep PerformanceEfficiency ImprovementDe-bottlenecking

23

7

CAPEX PLANNING PROFILE (2008 – 2014)

25

5%4%8%30%32%18%3%%

2014201320122011201020092008

Key Items (Capex) (US$ Mio)Capacity Expansion 594

Power Plants 114

De-bottlenecking 106

Human Capital Master Plan & ICT 40

Others 101

Keep Performance 227

Efficiency Improvement 35

Mandatory 45

Total Capex 1,262


AGENDA



III. Market Update





VIII.Appendix


Generate revenue

Emissions reduction programs

Carbon credits trading

Environmental ManagementReduce operating expense

Energy efficiency programs

Technology-driven cost savings

Promote company image

Domestic capacity expansion

Investment communities

SGG IS FOCUSED ON DRIVING VALUE THROUGH AN ENVIRONMENTALLY-SUSTAINABLE BUSINESS PLATFORM


CLEAN DEVELOPMENT MECHANISM (CDM) PROJECT

Alternative Fuel

1. Alternative Fuel

2. Waste Heat Recovery

The use of alternative fuel is the company’strategy plan in order to improve non renewable energy efficiency as well as consume friendly environmental energy.

Waste Heat Recovery GenerationUtilize exhaust (waste gas) from pre-heater & cooler to produce electricity (power plant).


CDM ROAD MAP


ALTERNATIVE FUEL ROAD MAP (SEMEN GRESIK ONLY)

2009 2012

Alternative fuel 1% Mapping alternative

Fuel source Install feeding facilities Procurement and

operations Trial

Alternative fuel 2,5% Agriculture & industry

waste 5%Note : Facility for solid alternative fuel, 1 unit at Tuban-3

alternative fuel 7,5% Agriculture & Industry

waste 7,5%

2010 2011

alternative fuel 5% Agriculture &

Industry waste 5% Add facilities at

Tuban-1/2

2013

alternative fuel 10% Agriculture & Industry

waste 10%

Note:CER value per ton: €10 (Rp14,500/€1)

Note:CER value per ton: €10 (Rp14,500/€1)

Alternative Fuel Percentage

Biomass ConsumptionBiomass Consumption

Decrease on Coal Consumption

CER Resulted

CER Gained


AGENDA



III. Market Update





VIII.Appendix


Pessimist : 5.5%

Moderate : 6.5%

Optimist : 7.0%

Annual Growth Rates

NATIONAL DEMAND IS FORECAST TO RISE TO 142mm TONS BY 2030

*) Source: The Study of Institut Teknologi 10 Nopember – Surabaya (ITS)

Indonesia Cement Market Growth 2010-2030

40 43 46 49 52 56 59 63 6772 76

8186

9298

104111

118125

133142

117

163

0

20

40

60

80

100

120

140

160

180

2010 2015 2020 2025 2030

Pessimist

Moderate

Optimist


Malaysia

Timor Leste

MalaysiaMalaysia

Timor LesteTimor LesteTimor Leste

21 50

10 39

3 20 3 16

1 7

2 11

KalimantanSulawesi

BaliJawa

Sumatra

Indonesia Timur

2010

2030

Key

Figures are in MT

DEMAND IN 2010-2030 WILL INCREASINGLY SHIFT TO THE OUTER ISLANDS

*) Source: The Study of Institut Teknologi 10 Nopember – Surabaya (ITS)

SGG with its wide geographical presence is well positioned to tap the growththroughout Indonesia


Distribution warehouses in all areas of Java, Bali, Sumatra, Kalimantan, Sulawesi and Irian 15 large packing plants Nationwide distribution network Operate 4 special sea ports: Padang, Tuban, Gresik, Biringkassi Total installed cap. EoY 2007: 17.1 mn tons and EoY 2008: 18.0 mn tons

SGG’s PRODUCTION FACILITIES ARE WELL SUPPORTED BY STRATEGICALLY LOCATED MARKETING AND DISTRIBUTION FACILITIES (2008)

TelukBayur

Sumatera

Kalimantan

SulawesiMaluku

Papua

LombokBaliJava

Batam

Ciwandan

Tanjung Priok Jakarta

Samarinda

Banjarmasin

Palu

Bitung

Ambon

Makassar

Biringkasi

BaliTabananDenpasarSingarajan

DI YogyakartaLempuyangan

Janti

Central JavaTegal

PurwokertoKudus

MagelangSolo/PalurAlas TuwoMojopahit

Sayung

West JavaSerang

TangerangBogor

CibitungBandung

Tasik MalayaCirebon

Narogong

Belawan

Singapore

Kuala Lumpur

Tuban

Surabaya

Cement Plant

Packing Plant

Port

Warehouse

East JavaMargomulyo

Tanjung WangiBangkalanSwabina

Aleh

Pelabuhan Tuban

Pelabuhan Gresik

Installed Cap.:5.9 mn tons




SGG LONG TERM STRATEGIC FOCUS

SGGSGG

THE OVERALL

STRATEGY

COMBINES

6 CRITICAL

ELEMENTS

THE OVERALL

STRATEGY

COMBINES

66 CRITICAL

ELEMENTS

1. Undertake Capacity Growth

2. Manage Energy Security

3. Enhance Company Image

4. Move Closer To The Customer

5. Enable Corporate Growth

6. Manage Key Risks

1. Undertake Capacity Growth

2. Manage Energy Security

3. Enhance Company Image

4. Move Closer To The Customer

5. Enable Corporate Growth

6. Manage Key Risks


Strong balance sheet provides flexibility to explore several

strategic options that enable sustainable

growth with relatively lower risk

Strong operating performance, growth

and margins

Efficient operations with high asset

utilization

Further internal value being unlocked

Increasing synergies between the

Company’s operating units

Market leader in a high growth

country & industry

Clear strategy to achieve same

Scalable production & distribution

capabilities across all major islands

Ready to tap country-wide

growth

SGG : VALUE PROPOSITION

Enables the Company to address the requirements of Shareholders, Environment and Community.

Shareholders benefit from a combination of current yield in terms of good dividends and prospects of future capital growth at acceptable risk


AGENDA



III. Market Update





VIII.Appendix


Source: Indonesian Cement Association & BPS Statistic (Industrial Origin – *Construction Growth – **GDP Growth – 1H 2009)

INDONESIA HAS EXPERIENCED SOLID ECONOMIC AND DOMESTIC CEMENT CONSUMPTION GROWTH

Growth:

1.1%

Growth:

9.7%

Growth:

4.2%

Growth:

1.8%

Growth:

6.6%

Growth:

5.8%

Growth:

19.4%

Construction growth (RHS)Domestic consumption (LHS)

GDP growth % (RHS)

(mio tons)

DOMESTIC CEMENT CONSUMPTION, CEMENT GROWTH, GDP GROWTH AND CONSTRUCTION GROWTH IN INDONESIA

34.0

27.2 27.530.2 31.5 32.1 34.2

38.1

5.6%4.7%

5.1%

5.4%4.4%

6.3%

6.1% **4.40%

11.5%

4.2%

9.7%

-1.1%6.6%

1.8%1.1%

5.8% *6.30%

4.1%

5.7% 8.2% 7.3% 9.0% 8.3% 7.3%

-10.0

0.0

10.0

20.0

30.0

40.0

2002 2003 2004 2005 2006 2007 2008 11M2009 -10.0%

0.0%

10.0%

20.0%

30.0%

40.0%Cement growth (RHS)


Main Office:Main Building of Semen Gresik

Jln. Veteran Gresik 61122 – IndonesiaPhone: (62-31) 3981731 -2, 3981745

Fax: (62-31) 3983209, 3972264

Representative Office:Graha Irama Building, 11th Floor,Jln. HR Rasuna Said, Kuningan, Jakarta 12950 – IndonesiaPhone: (62-21) 5261174 – 5Fax : (62-21) 5261176

www.semengresik.com

THANK YOUTHANK YOUIMPORTANT NOTICE

THIS PRESENTATION IS NOT AND DOES NOT CONSTITUTE OR FORM PART OF, AND IS NOT MADE IN CONNECTION WITH, ANY OFFER FOR SALE OR SUBSCRIPTION OF OR SOLICITATION, RECOMMENDATION OR INVITATION OF ANY OFFER TO BUY OR SUBSCRIBE FOR ANY SECURITIES NOR SHALL IT OR ANY PART OF IT FORM THE BASIS OF OR BE RELIED ON IN CONNECTION WITH ANY CONTRACT, COMMITMENT OR INVESTMENT DECISION WHATSOEVER.

THE SLIDES USED IN THIS PRESENTATION ARE STRICTLY CONFIDENTIAL AND HAVE BEEN PREPARED AS A SUPPORT FOR ORAL DISCUSSIONS ONLY. THE INFORMATION CONTAINED IN THIS PRESENTATION IS BEING PRESENTED TO YOU SOLELY FOR YOUR INFORMATION AND MAY NOT BE REPRODUCED OR REDISTRIBUTED TO ANY OTHER PERSON, IN WHOLE OR IN PART.

This presentation includes forward-looking statements, which are based on current expectations and forecast about future events. Such statements involve known / unknown risks uncertainties and other factors, which could cause actual results to differ materially from historical results or those anticipated. Such factors include, among others:

● economic, social and political conditions in Indonesia, and the impact such conditions have on construction and infrastructure spending in Indonesia;

● the effects of competition;

● the effects of changes in laws, regulations, taxation or accounting standards or practices;

● acquisitions, divestitures and various business opportunities that we may pursue;

● changes or volatility in inflation, interest rates and foreign exchange rates;

● accidents, natural disasters or outbreaks of infectious diseases, such as avian influenza, in our markets;

● labor unrest or other similar situations; and

● the outcome of pending or threatened litigation.

We can give no assurance that our expectations will be attained.

DISCLAIMERThe information contained in this report has been taken from sources which we deem reliable. However, none of PT Semen Gresik (Persero) Tbk and/or its affiliated companies and/or their respective employees and/or agents make any representation or warranty (express or implied) or accepts any responsibility or liability as to, or in relation to, the accuracy or completeness of the information and opinions contained in this report or as to any information contained in this report or any other such information or opinions remaining unchanged after the issue thereof.

We expressly disclaim any responsibility or liability (express or implied) of PT Semen Gresik (Persero) Tbk, its affiliated companies and their respective employees and agents whatsoever and howsoever arising (including, without limitation for any claim, proceedings, action, suits, losses, expenses, damages or costs) which may be brought against 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 PT Semen Gresik (Persero) Tbk, its affiliated companies or their respective employees or agents accepts liability for any errors, omission or mis-statements, negligent or otherwise, in the report and any liability in respect of the report or any inaccuracy therein or omission therefrom which might otherwise arise is hereby expresses disclaimed.

Documents

CEMENTING USTAINABLE ROWTH - Semen · PDF fileStriving to maximize value 2 THE COUNTRY & INDONESIAN CEMENT INDUSTRY AT A GLANCE GEOGRAPHY Area : 1,922,570 km2 Capital