date: as of 30th may 2019...• 2014: memulai operasi unit sidoarjo • 2015: peresmian perluasan...
TRANSCRIPT
Date: As of 30th May 2019
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Daftar Isi
1. Sekilas Mengenai PT Steel Pipe Industry of Indonesia Tbk (“Perseroan”)
2. Kinerja Perseroan dan ringkasan kinerja keuangan kuartal I th 2019
1. Highlight Laporan Keuangan
2. Operational Improvement
3. Update Kinerja Mei 2019
1. Sales Performance
2. Ulasan mengenai ekspor
3. Project Highlight
4. Ulasan kondisi perekonomian dunia dan dampaknya terhadap Perseroan
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Produsen Pipa Baja Terbesar di Indonesia
∙ PT Steel Pipe Industry Indonesia (“Spindo”) didirikan oleh CV Gayantara, C.Itoh & CompanyLimited dan Kawasaki Steel Corporation pada tahun 1971 sebagai perusahaan investasi asingdan kemudian berubah menjadi perusahaan investasi dalam negeri pada tahun 1993
∙ Produsen terkemuka produk pipa baja dan dianggap sebagai yang terbesar di Indonesiaberdasarkan kapasitas produksi. Hingga Maret 2017, total kapasitas produksi mencapai lebihdari 50k MT / bulan
∙ Portofolio produk terdiri dari beragam jenis pipa yang disesuaikan (atau "dibuat sesuaipesanan") dan standar (atau "dibuat untuk stok") karbon dan stainless steel dan produk-produk terkait pipa
∙ Pasar Konsumen utama meliputi 1) konstruksi, infrastruktur dan utilitas 2) minyak & gas 3)furnitur dan 4) otomotif
∙ Produk dijual dengan merek premium "Tetsura" dan "Spindo". Sekitar 93% dari pendapatandihasilkan di dalam negeri
∙ Komponen lain dari pendapatan termasuk 1) layanan pipa baja seperti pelapisan,pemotongan (“cutting & slitting”) 2) pengujian kendali mutu laboratorium dan 3) penjualanbarang tidak terpakai (scrap & aval)
Penjualan & Pelanggan Utama
Penjualan Langsung*
Penjualan Tidak Langsung
Distributors TokoSumber : Perusahaan
* Contoh beberapa pelanggan
Proses produksi
Baja karbondan gulunganbaja stainless
Memotong gulungan bajamenjadi lebar,
dilengkungkan, dandilanjutkan dengan
mengelas pada ujungsambungan
Produk Pipa Baja
SPINDO
Dikenal dengan Baik untuk Keunggulan
IndustriAPI Certification
SNI Marking
Certification
Quality
Assurance TestISO 9001:2008
Logo
UL
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Riwayat Perusahaan
1970
1990
2000
2019
Sumber : Perusahaan
1970
1971: Didirikan sebagai perusahaan investasi asing yang didirikan di Indonesia oleh PT Gayantara, Itochu Corporation dan Kawasaki Steel Corporation
1990
• 1990: Ibnu Susanto mengakuisisi 90% saham di PT Spindo
• 1991: PT Radjin mendirikan Pabrik Pasuruan, yang menandai awal dari kemampuan kami untukmemproduksi spiral welded pipes
• 1996: Memperoleh sertifikasi API 5L 0313 untukl proses spiral welding
• 1998: Bergabung dengan PT Radjin
2000
• 2005: Mendirikan Unit Karawang
• 2007: Memperoleh Sistem Manajemen MutuISO TS untuk pipa-pipa otomotif pada Unit Karawang
• 2009: Menjadi pemasok Yamaha (salah satudari 10 perusahaan manufaktur sepedaglobal)
2010
• 2011: Memperoleh sertifikasi Occupational Health and Safety Management System ("OHSAS")
• 2013: Penawaran Saham Perdana PT SPINDO pada tanggal 28 Januari2013, mengumpulkan US $ 88 juta
• 2014: Memulai operasi Unit Sidoarjo
• 2015: Peresmian perluasan pabrik SPINDO Unit 5 - Karawang
• 2015: Penandatanganan nota kesepahaman antara SPINDO, JFE Steel Corporation dan Marubeni-Itochu Inc
• 2016: Terpilih sebagai Perusahaan Terbaik 40 oleh Asosiasi AnalisIndonesia dan menjadi anggota indeks Kompas 100
• 2016: Mulai mengoperasikan warehouse di Bandung dan Jakarta
• 2018: Memperoleh sertifikasi UL
• 2019: Mulai mengoperasikan warehouse di Samarinda
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Dewan Direksi dan Komisaris
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Fasilitas Produksi dan Daftar Jenis Distribusi
SamarindaWarehouse
Spindo SidoarjoUnit Produksi 6
Spindo SurabayaUnit Produksi1,2,3
Spindo PasuruanUnit Produksi 4
Spindo KarawangUnit Produksi 5
Bandung & West JKTWarehouse
Unit
No. of
Lines Production Type
1 5 HFW (Dia. ¼” – 8”)
22 HFW (Dia. 5/8” – 3”)
5 TIG (Dia. ¼” – 4”)
3 3 HFW (Dia. ½” – 8”)
4 4 SSAW (Dia.6” – 120”)
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1
HFW Heavy Gauge Steel
Carbon (Dia. 1” – 2.5”)
Thickness 2.5mm – 6.5mm)
7HFW Carbon Steel (Dia. ½” –
4”)
1 HFW SS (Dia. 1” – 2.5”)
6 9 HFW (Dia. 3/8” – 3”)
Catatan :
HFW: high frequency welding
TIG: stainless steel tungsten inert gas welding
SSAW: spiral submerged arc welding
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Highlight Laporan Keuangan
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1010
Highlight Laporan Keuangan
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Highlight Laporan Keuangan
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Highlight Laporan Keuangan
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Pengembangan pemasaran
Edukasi pelanggan dengan melakukan customer gathering
Pengembangan Media Sosial Spindo
@spindosteelpipe
https://www.facebook.com/spindosteelpipe
linkedin.com/company/spindo
Mohon berhati-hati atas penipuan yang mengatas namakan PT Steel Pipe
Industry of Indonesia Tbk. Jika menerima informasi atau penawaran yang
meragukan harap menghubungi Sekretaris perusahaan pada email
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15
Sales Performance (For the Year 2016 – As of May 2019)
Source: Company
2019 2018 2018 2017 2016 2019 2018 2017 2016
(unaudited)
Strips and Plate 18.129 28.946 57.755 40.322 102.625 3.626 4.813 3.360 8.552
Spiral Pipe Non API 25.808 22.336 54.875 67.907 50.858 5.162 4.573 5.659 4.238
Spiral Pipe API - 127 232 79 550 - 19 7 46
Water Pipe 16.588 21.746 55.150 53.010 56.503 3.318 4.596 4.417 4.709
Black Pipe non API 37.173 33.237 77.806 69.589 55.571 7.435 6.484 5.799 4.631
Black Pipe API - - 15 - 65 - 1 - 5
Mechanical Pipe 25.262 22.172 54.833 51.034 46.587 5.052 4.569 4.253 3.882
Furniture Pipe 20.974 15.758 36.576 32.353 42.946 4.195 3.048 2.696 3.579
Stainless Pipe 1.102 1.164 2.444 2.778 2.310 220 204 231 193
Pole 4.129 186 1.645 2.616 4.430 826 137 218 369
Services & Others (1)
2.260 433 5.656 1.899 428 452 471 158 36
Total sales volume exclude afval 151.425 146.104 346.987 321.586 362.874 30.285 28.916 26.799 30.239
Increasing sales tonage 3,64% 7,90% -11,38% -2,66%
Total Sales volume (exclude strips,plate
and services & others) 131.036 116.725 283.576 279.365 259.820 26.207 23.631 23.280 21.652
% Increasing sales tonage (exc. Strips
plates services and others) 12,26% 1,51% 7,52% -4,41%
Sales of Afval 6.930 7.014 16.598 16.418 18.304
Total sales include afval 158.355 153.118 363.585 338.005 381.178
Average/month
(unaudited)
As of May
(audited)
Sales in Quantity (Ton)
As of 31 December
(audited)
16
Sales Performance (For the Year 2016 – As of May 2019)
Source: Company
2019 2018 2018 2017 2016 2019 2018 2017 2016
(unaudited)
Strips and Plate 185.528 284.131 585.804 356.574 670.442 37.106 48.817 29.714 55.870
Spiral Pipe Non API 306.914 264.074 647.446 649.125 423.549 61.383 53.954 54.094 35.296
Spiral Pipe API - 2.288 4.189 1.131 12.938 - 349 94 1.078
Water Pipe 297.909 358.210 941.308 763.032 660.956 59.582 78.442 63.586 55.080
Black Pipe Non API 465.082 386.738 946.597 723.728 450.867 93.016 78.883 60.311 37.572
Black Pipe API - 262 - 667 - 22 - 56
Mechanical Pipe 343.755 287.235 731.906 603.365 481.980 68.751 60.992 50.280 40.165
Furniture Pipe 261.681 185.412 444.771 344.943 383.119 52.336 37.064 28.745 31.927
Stainless Pipe 45.450 49.943 104.252 102.063 72.181 9.090 8.688 8.505 6.015
Pole 64.523 2.421 24.382 50.616 77.358 12.905 2.032 4.218 6.447
Services & Others (1) 6.004 19.498 36.673 68.233 25.143 1.201 3.056 5.686 2.095
Total sales value exclude afval 1.976.846 1.839.951 4.467.590 3.662.810 3.259.200 395.369 372.299 305.234 271.600
Increasing total sales value 7,44% 21,97% 12,38% -9,05%
Total sales value (exclude Strip plates
services and others) 1.785.314 1.536.321 3.845.113 3.238.003 2.563.615 357.063 320.426 269.834 213.635
% Increasing sales value(exc. Strips
plates services and others) 16,21% 18,75% 26,31% -12,64%
Sales of Afval 37.795 38.549 94.957 68.853 60.836
Total sales include afval 2.014.641 1.878.499 4.562.548 3.731.663 3.320.036
Notes 1: for services & others are excluded scrap sales
(audited)
Average/monthAs of May As of 31 December
(unaudited)
Sales in Value (Mio.IDR)
(audited)
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Average Sales Price (For the Year 2016 – As of May 2019)
Source: Company
2019 2018 2018 2017 2016
Strips and Plate 10.234 9.816 10.143 8.843 6.533
Spiral Pipe Non API 11.892 11.823 11.799 9.559 8.328
Spiral Pipe API - 17.978 18.069 14.367 23.524
Water Pipe 17.959 16.473 17.068 14.394 11.698
Black Pipe Non API 12.511 11.636 12.166 10.400 8.113
Black Pipe API - - 17.271 - 10.262
Mechanical Pipe 13.608 12.955 13.348 11.823 10.346
Furniture Pipe 12.476 11.766 12.160 10.662 8.921
Stainless Pipe 41.243 42.903 42.664 36.740 31.247
Pole 15.627 12.999 14.824 19.348 17.462
Services & Others (2) 2.656 45.055 6.484 35.936 58.713
Average Sales Price (IDR/kg) 13.055 12.593 12.875 11.390 8.982
% increase of average sales price 3,66% 13,04% 26,81% -6,57%
Average Sales Price only pipe (IDR/kg) 13.625 13.162 13.559 11.591 9.867
% increase of avg sales price (only pipe) 3,52% 16,99% 17,47% -8,60%
Notes 2: for services & others are excluded scrap sales
(audited)
Sales Price (IDR/kg)
As of May As of 31 December
(unaudited)
18
Trend of Sales Volume Monthly (For the Year 2018 – As of May 2019)
Source: Company
Sales in Quantity (Ton) Jan Feb March April May June July Aug Sep Oct Nov Dec Total
Strips and Plate 9.061 6.931 4.679 2.715 5.561 2.042 6.733 5.494 4.231 5.661 2.633 2.016 57.755
Spiral Pipe Non API 3.798 1.000 5.726 4.387 7.428 5.450 7.089 3.558 5.524 5.660 2.194 3.062 54.875
Spiral Pipe API - - 89 - 39 36 - - 46 (0) 23 (0) 232
Water Pipe 5.013 4.587 4.085 3.796 4.262 2.474 5.918 5.568 5.699 6.194 4.902 2.654 55.150
Black Pipe non API 8.010 7.327 6.046 6.264 5.589 2.561 6.718 8.125 8.704 7.418 6.199 4.845 77.806
Black Pipe API - - - - - 1 1 2 1 3 7 15
Mechanical Pipe 4.607 3.940 4.532 4.638 4.454 2.747 4.981 5.176 5.084 5.759 5.068 3.845 54.833
Furniture Pipe 3.776 3.261 3.350 1.828 3.543 1.350 3.303 2.802 3.656 4.009 2.922 2.776 36.576
Stainless Pipe 236 146 251 298 233 72 258 214 258 157 151 169 2.444
Pole 12 1 127 46 0 - 31 77 104 189 991 67 1.645
Services & Others (1) 597 627 626 1.030 577 235 466 421 37 72 498 469 5.656
Total sales (in tonage) 35.111 27.820 29.509 25.002 31.685 16.968 35.498 31.435 33.347 35.119 25.584 19.910 346.987
Notes 1: for services & others are excluded scrap sales
sales monthly of afval 1.613 1.286 1.100 1.796 1.218 745 1.320 1.726 1.283 1.675 1.444 1.391 16.598
2018
Sales in Quantity (Ton) Jan Feb March April May Total
Strips and Plate 2.613 4.590 5.047 1.948 3.931 18.129
Spiral Pipe Non API 3.867 3.360 5.662 8.364 4.555 25.808
Spiral Pipe API - - - - - -
Water Pipe 3.712 4.381 3.697 2.513 2.285 16.588
Black Pipe non API 7.832 9.254 5.541 6.200 8.346 37.173
Black Pipe API - - - - - -
Mechanical Pipe 5.166 5.163 5.279 4.545 5.109 25.262
Furniture Pipe 4.329 4.404 4.813 3.973 3.455 20.974
Stainless Pipe 295 150 221 219 216 1.102
Pole 346 444 2.237 426 677 4.129
Services & Others (1) 318 235 505 684 517 2.260
Total sales (in tonage) 28.478 31.981 33.003 28.873 29.090 151.425
Notes 1: for services & others are excluded scrap sales
sales monthly of afval 1.057 1.556 1.507 1.539 1.271 6.930
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Trend of Sales Value Monthly ( For the Year 2018 – As of May 2019)
Source: Company
Sales in value (mio.IDR) Jan Feb March April May June July Aug Sep Oct Nov Dec Total
Strips and Plate 85.882 67.086 46.859 27.519 56.785 20.799 69.391 57.827 44.351 59.623 28.095 21.587 585.804
Spiral Pipe Non API 41.757 12.175 69.406 54.124 86.612 63.135 82.167 41.687 64.994 65.776 32.206 33.405 647.446
Spiral Pipe API - - 1.687 0 601 600 - - 893 0 409 (0) 4.189
Water Pipe 78.802 74.662 68.346 63.726 72.674 42.852 101.546 95.834 99.213 109.960 86.279 47.412 941.308
Black Pipe non API 91.784 83.453 70.156 74.206 67.139 30.907 81.610 100.227 109.692 95.448 79.875 62.100 946.597
Black Pipe API - - - - - - 13 17 34 17 53 128 262
Mechanical Pipe 57.960 50.880 58.697 60.355 59.343 36.726 66.079 68.636 68.439 79.466 71.418 53.907 731.906
Furniture Pipe 43.854 37.346 39.579 21.712 42.920 16.417 40.200 34.459 45.095 50.765 37.493 34.930 444.771
Stainless Pipe 10.274 6.519 10.611 12.832 9.706 2.954 10.794 9.159 10.989 6.739 6.248 7.427 104.252
Pole 190 18 1.624 590 0 - 431 1.078 1.426 2.805 15.265 955 24.382
Services & Others (1) 1.895 6.347 3.414 2.125 5.717 980 1.371 2.076 3.191 4.046 2.984 2.526 36.673
Total sales (in value) 412.398 338.486 370.379 317.189 401.497 215.371 453.604 411.000 448.318 474.645 360.325 264.378 4.467.590
Notes 1: for services & others are excluded scrap sales
sales monthly of afval 7.019 8.181 6.575 10.692 6.081 4.917 8.366 9.671 7.153 9.925 8.897 7.478 94.957
2018
Sales in value (mio.IDR) Jan Feb March April May Total
Strips and Plate 26.724 47.742 51.335 20.216 39.512 185.528
Spiral Pipe Non API 44.641 38.193 67.325 102.942 53.813 306.914
Spiral Pipe API - - - - - -
Water Pipe 65.118 79.394 66.143 45.761 41.494 297.909
Black Pipe non API 99.612 116.466 69.993 76.219 102.792 465.082
Black Pipe API - - - - - -
Mechanical Pipe 72.302 68.027 70.104 63.492 69.830 343.755
Furniture Pipe 53.774 54.978 59.653 49.727 43.550 261.681
Stainless Pipe 12.162 6.097 9.125 9.196 8.870 45.450
Pole 5.765 7.218 34.219 6.445 10.877 64.523
Services & Others (1) 761 923 1.678 1.383 1.259 6.004
Total sales (in value) 380.859 419.036 429.575 375.380 371.996 1.976.846
Notes 1: for services & others are excluded scrap sales
sales monthly of afval 6.684 7.299 9.233 8.430 6.150 37.795
20
Key End Markets and Uses of Steel Pipe Products
Key End
Markets Main Uses
% of 2016 % of 2017
Pipe Sales Pipe Sales
% of 2018 %as of May19
Pipe Sales Pipe Sales
Construction,
Infrastructure
and Utilities
• Piling pipes
• Structural pipes
• Fire hydrant (sprinklers)
• Scaffolding
• Electrical poles and conduits
• Power and water treatment plants
• Water Pipes
Oil & Gas• Transmission and distribution of oil and gas
pipelines
Automotive
• Motorcycle and car parts including car seat
frames, motorcycle frames, shock absorbers,
cylinders and mufflers
Furniture
• Kettles, stoves, broomsticks, desks, chairs
(including wheelchairs), hospital beds, towel
racks, trolleys, bicycles, clothes hangers and
baby walkers
63%
1%
19%
18%
67%
0%
19%
14%
Source: Company filings
Note: % may not add up to 100% due to rounding
67%
0%
19%
14%
63%
0%
19%
17%
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Pengembangan Pangsa Pasar Ekspor
34.1%40.4%
8.1%
56.1%
58.1%
69.9%
9.8%1.5%
22.0%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2017 2018 2019 (up to may)
Negara Tujuan Ekspor 2017-2019
USA Canada Others
52%
54%
56%
58%
60%
62%
64%
66%
68%
70%
72%
74%
-
500.00
1,000.00
1,500.00
2,000.00
2,500.00
3,000.00
2017 2018 2019 (up to may)
Rata-rata Ekspor (Ton/Bulan)
monthly avg Growth
Pengembangan pangsa pasar
ekspor terus dilakukan terutama
untuk jenis produk pipa air dan pipa
sprinkler yang telah didukung
sertifikasi Underwriters Laboratory
22
Raw Material and Suppliers As of December 2018 and As of May 2019
Source: Company
Ton IDR mio. % Ton IDR mio. %
Local 147.188 1.314.641 38,0% 12.334 118.013 7,6%
Impor 227.472 2.142.019 62,0% 170.254 1.433.260 92,4%
Total Purchase of Material 374.660 3.456.659 100,0% 182.588 1.551.273 100,0%
Note: based on incoming material
Purchase of Material
2018 As of May 2019
23
Trend of sales pipe price and material cost HRC impor & local ( January 2014 up to May 2019)
Source: Company
24
Trend sales price and material cost ( Year 2010 up to May 2019)
Source: Company
25
Capacity Utilization Monthly ( January 2014 – May 2019)
Source: Company
26
Yield Ratio Monthly ( January 2014 - May 2019)
Source: Company
Highlight ProjectsPeriode 2019
28
Selected Project 2019
Rekap Proyek Januari - Juni 2019
No. Nama Proyek
1 PLTU Malinau 2 x 3 MW
2 Jembatan Teluk Kendari
3 Dermaga Bawean
4 Proyek Petrokimia Gresik
6 Kereta Cepat Jakarta- Bandung
8 Shute Harbour
9 SPAM Umbulan Fase 2
12 Dermaga Panjang Lampung
13 Pembangunan Jalur Kereta Api Solo Balapan
15 Pelabuhan Bajo 2019
Global Economy Review
30
Harga HRC Domestik China
31
Iron Ore
32