TO BE A SUSTAINABLE

ASEAN-CLASS
CONSTRUCTION AND INVESTMENT
COMPANY

PT PP PERSERO Tbk
September 2017

COMPANY
UPDATE
 Table  of  Contents

1.   Company  Overview   3  
2.   Company  Update   8  
3.   Financial  Highlights   11  
4.   Opera?onal  Highlights   17  
5.   Project  Progress  &  Investments   22  
6.   Appendices   25  

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 Sec;on  1  
Company  Overview  

Kalibaru  Port,  Indonesia’s  biggest  container  terminal  

Winner,  Asian  Civil  Engineering  Coordina;ng  Council  Award  2016  
 About  PTPP

PTPP  in  brief  

VISION  
64  years   Established  in  1953,  over  6  decades  of  experience  
“To  be  a  leading  and  sustainable  construc?on  and  
investment  company  in  South  East  Asia”  
7  business   Infrastructure,  Energy,  Property,    
lines   Construc?on,  EPC,     MISSION  
Precast  and  Construc?on  Equipment   •  Providing  Construc?on  and  EPC  services  as  well  as  
Good  Corporate  Governance-­‐based  Investment,  
2010   Went  public  on  February  9,  2010     QSHE  Management,  Risk  Management,  and  Green  
Concept  that  priori?ze  on  customer  sa?sfac?on  and  
sustainability  
17  trillion   Market  capitaliza?on  as  of  August  31,  2017   •  Developing  Business  Synergy  Strategy  to  create  high  
Rupiah   compe??veness  and  op?mal  value  add  for  the  
Stakeholders  
49%   Free  float  (public  ownership)  in  the  market   •  Crea?ng  Excellent  Human  Resources  with  
Recruitment,  Development  and  Assessment  based  
29%   Foreign  investor  ownership  as  of  August  31,  2017   on  Corporate  Culture  
•  Op?mizing  Knowledge  Management  to  achieve  
Sustainable  Excellent  Performance  
•  Developing  Corporate  Strategy  through  Financial  
strengthening  to  increase  Equity  
Corporate  Value  

P   P   B   I   D  

Personal   Professional   Be   Integrity   Discipline  

Awareness     Grateful      
    4  
 Company  Milestones

2017  

Diversifica?on  
to   2016   Completed  
Construc?on   Right  Issue  at    
Diversifica?on   Equipment   PT  PP  Proper?  Tbk  
to  EPC  and   2015    
Investment   Planning  IPO  of    
EMBO   PT  PP  Presisi  Tbk  
Government  of   2014  
Republic  Indonesia  51%  
Completed    
KKSPP  49%   Right  Issue    
2012  
at  PT  PP  (Persero)  Tbk  
Transformed  
to  become   2011    
PT  Pembangunan   Diversifica?on  to    
Perumahan   2010   Energy    
and  Infrastructure  
(Persero)   Diversifica?on  
2004    
1991  
to  Precast   IPO:  May  19  
1971   Subsidiary  PT  PP  Proper?  Tbk    
1953
IPO:  February  9   was  listed  on  the  Indonesia  
Diversifica?on  to   Listed  on  the  Indonesia  Stock  
Stock  Exchange  
Established  as     Property    
Exchange  
NV  PP   and  Realty  
5  
 Corporate  Shareholding  Structure
Government  of     Public    
KKPSPP  
Republic  Indonesia   (Below  5.0%)  

51.00%   0.08%   48.92%  

64.98%   99.98%   99.99%   99.00%   99.00%  

Below  50%  
Subsidiaries  
Proper?   Presisi   Urban   Energi   Infrastruktur  

40.00%  PT  Solo  Citra  Metro  Plasma  Power  

PT  Lancarjaya   35.00%  PT  Jasamarga  Pandaan  Malang  
PT  Griyaton  
PT  HKM   PT  GSN   PT  WSS   PT  PPPJR   Mandiri  Abadi   30.00%  PT  Alam  InZ  Energi  
96.57%
99.00%   99.90%   55.00%   52.60%   51.00%   25.00%  PT  Prima  MulZ  Terminal  
20.00%  PT  Sinergi  Investasi  ProperZ  
15.00%  PT  Jasamarga  Kualanamu  
15.00%  PT  Jasamarga  Balikpapan  
PT  SPPP   PT  PPP   PT  JPP   Below  50%   15.00%  PT  Jasamarga  Manado  Bitung  
49.00% 40.00% 49.00% Subsidiaries   15.00%  PT  Teknik  Rekayasa  Kereta  Kapsul  
PT  MDP   PT  IME   PT  SDP  
15.00%  PT  PP  Taisei  
99.00% 35.00%   75.00%
15.00%  PT  Wijaya  Karya  Serang  Panimbang  
14.00%  PT  Citra  Karya  Jabar  Tol  
12.50%  PT  Citra  Wapphutowa  
10.00%  PT  Sinergi  Colomadu  

PT  GSN   :   PT  Gitanusa  Sarana  Niaga   PT  PPPJR   :   PT  PP  ProperZ  Jababeka  Residence  

PT  Griyaton   :   PT  Griyaton  Indonesia   PT  PPP   :   PT  Pekanbaru  Permai  ProperZndo  
PT  HKM   :   PT  Hasta  Kreasi  Mandiri   PT  SDP   :   PT  SepoeZh  Daya  Prima  
PT  IME   :   PT  Inpola  Meka  Energi   PT  SPPP   :   PT  Sentul  PP  ProperZ  
PT  JPP   :   PT  Jababeka  PP  ProperZ   PT  WSS   :   PT  Wisma  Seratus  Sejahtera  
PT  MDP   :   PT  Muba  Daya  Pratama  

6  
 Business  Lines
UPSTREAM   MIDSTREAM   DOWNSTREAM  

INFRA   ENERGY   PROPERTY   CONSTRUCTION   EPC   PRECAST   EQUIPMENT  

§  TOLL  ROAD   §  COMMERCIAL   §  EARTH  MOVING  

§  POWER  PLANT   §  SEA  PORTS,  AIPORTS   §  POWER  PLANT   §  HIGH  RISE  BUILDING  
§  PORT   §  RESIDENTIAL   PRECAST  
§  OIL  &  GAS   §  DAM   §  OIL  &  GAS   §   FOUNDATION    
§  AIRPORT   §  HOSPITALITY   §  INFRASTRUCTURE  
§  HIGH  RISE  BUILDINGS   §  MINING   PRECAST   §  FORMWORK  
§  ROAD  &  BRIDGES   §  READY  MIX  
PT  PP   PT  PP     PT  PP     §  PRECAST  PLANT  
INFRASTRUKTUR   ENERGI   PROPERTI  TBK   §  BUILDING  
§  EQUIPMENT  RENT  

PTPP  (List  Co)   MANAGEMENT  

Asset:  61  billion   Asset:  664  billion   Asset:  10.7  Trillion  
Equity:  53  billion   Equity:  222  billion   Equity:  4.7  Trillion   PT  PP     PT  PP    
Asset:  21.7  Trillion  (Parent  Only)   URBAN   PRESISI  
13.5%  of  Revenues*   Equity:  8.7  Trillion  (Parent  Only)  

82.8%  of  Revenues*   Asset:  1,489  billion   Asset:  1,309  billion  

Equity:  368  billion   Equity:  281  billion  

3.7%  of  Revenues*  

INVESTMENT   CONSTRUCTION  

All  figures  in  Rupiah  (before  elimina?on)  as  of  June  30,  2017  
*  Before  elimina?on,  1H  2017  

7  
 Sec;on  2  
Company  Update  

Dual  Fuel  200MW  Power  Plant  Pesanggaran,  Bali,  Indonesia  

Winner  Asian  Power  Award  2016  
September  2017

New  Contracts  
PTPP  bagged  8-­‐months  2017  new  contracts  of  IDR24.1  Trillion,  
upped  by  29%  year-­‐on-­‐year  

Subsidiary  IPO  
PT  PP  Presisi  Tbk  completed  1st  registra?on  to  OJK  on  
September  6  with  planned  lis?ng  in  the  IDX  on  November  2017  

Yogyakarta  InternaZonal  Airport  Project  

PTPP,  as  the  selected  strategic  partner  of  PT  Angkasa  Pura  1  
(Persero),  commenced  the  construc?on  of  Yogyakarta  
Interna?onal  Airport  in  Kulon  Progo,  Yogyakarta  

9  
 Use  of  Right  Issue  Proceeds

Use  of  proceeds  from  Government  Capital  InjecZon  or  PMN  

Projects   LocaZon   PMN   RealizaZon   Balance  

25%   1.  Mul?purpose  Terminal  Kuala  Tanjung  Port   North  Sumatra   IDR  166  Bn   IDR  166  Bn   -­‐  
As  of  June  30,  2017,  
15%   2.  Toll  Road  Medan  -­‐  Kualanamu  -­‐  Tebing  Tinggi   North  Sumatra   IDR  174  Bn   IDR  114  Bn   IDR  60  Bn   we  have  used  23%  of  
PMN-­‐based  proceeds  
12.5%   3.  Toll  Road  Depok  -­‐  Antasari   DKI  Jakarta   IDR  62  Bn   IDR  60  Bn   IDR  2  Bn  

15%   4.  Toll  Road  Balikpapan  -­‐  Samarinda     East  Kalimantan   IDR  449  Bn   IDR  20.1  Bn   IDR  428.9  Bn  

15%   5.  Toll  Road  Pandaan  -­‐  Malang   East  Java   IDR  627  Bn   IDR  137.5  Bn   IDR  489.5  Bn  

15%   6.  Toll  Road  Manado  -­‐  Bitung   North  Sulawesi   IDR  231  Bn   IDR  10.8  Bn   IDR  220.2  Bn  

7.  Middle  Class  Apartment  (MBR  Rusunami)   Greater  Jakarta   IDR  541  Bn   -­‐   IDR  541  Bn  

TOTAL  INVESTMENT   IDR  2.25  T   IDR  508.4  Bn   IDR    1,741.6  Bn  

PTPP  stake  in  JV  

10  
 Sec;on  3  
Financial  Highlights  

Ministry  of  Public  Works  and  Housing  Building,  Indonesia’s  1st  cer;fied  pla;num-­‐grade  green  building  
Winner  Green  Building  Award  2016  
 8-­‐Months  2017  Achievements

NEW  CONTRACTS  

+29%  
8M  2016   8M  2017  
                   IDR  18.7    IDR  24.1    
                   Trillion          Trillion  

NET  INCOME  
REVENUES  

+19%   +58%  
8M  2016   8M  2017  
8M  2016   8M  2017    
     IDR  530        IDR  836    
                       IDR  9.7        IDR  11.5    
       Billion          Billion  
                     Trillion        Trillion  

12  
 Financial  Strength:  (1)  Balance  Sheet  Capacity
June  30,  2017   June  30,  2017  
Consolidated  Gearing  Ra?o   Consolidated  Net  Gearing  Ra?o  
(in  billion  Rupiah)   (in  billion  Rupiah)   Note:  
 11,710     (*)  included  
0.6x    11,710     0.03x   Short-­‐Term  
Investments  

 7,112      6,789    
 7,112    

 323  

Interest-­‐bering   Cash  &  Near   Net  Debt   Equity  

Interest-­‐bearing  Debt   Equity   Debt   Cash*  

June  30,  2017   June  30,  2017  

Parent  Only  -­‐  Gearing  Ra?o   Parent  Only  -­‐  Net  Gearing  Ra?o  
(in  billion  Rupiah)   (in  billion  Rupiah)   Note:  
 8,657      8,657     (*)  included  
0.4x   Short-­‐Term  
-­‐0.2x   Investments  

 3,369     5,509  
 3,369    
 2,140  

Interest-­‐bering   Equity  
Debt  
Cash  &  Near   Net  Cash  
Interest-­‐bearing  Debt   Equity   Cash*  
13  
 Financial  Strength:  (2)  Debt,  Net  Debt,  EBITDA

June  30,  2017     June  30,  2017    

Debt  to  LTM  EBITDA   Net  Debt  to  LTM  EBITDA  
(in  billion  Rupiah)   (in  billion  Rupiah)  
 7,112    
 2,389    

2.98x  

0.03x  

 2,389    

 323    

Interest-­‐bearing  Debt   LTM  EBITDA   Net  Debt   LTM  EBITDA  

LTM  =  Last  Twelve  Months  

14  
 Financial  Strength:  (3)  Cash  Flow

June  30,  2017   June  30,  2017  

Year-­‐to-­‐Date  Movement  of  Cash  Flow   Cash  receipt  from  customers-­‐to-­‐Revenues  
(in  billion  Rupiah)   (in  billion  Rupiah)  
 9,125    
87%  
 8,126    
 945    

 6,662      7,046    
 (2,173)     (3)    

(1,231)    

Cash  and   Opera?ng   Inves?ng   Financing   Effect  of   Cash  and  

Near  Cash,   Cash  Flow   Cash  Flow   Cash  Flow   Exchange   Near  Cash,  
Beginning   Rate   Ending  
Balance   Balance   Cash  Flow  Receipt  from  Customers   Revenues  

15  
 Debt:  Maturity  Profile  and  Breakdown

June  30,  2017   June  30,  2017  

Maturity  Profile  of  Outstanding  Interest-­‐bearing  Debts   Breakdown  of  Interest-­‐Bearing  Debts  

(in  billion  Rupiah)  

Bonds  
22%  

 3,790    

 3,322    
MTN  
13%  

Total    
53%   Outstanding  Debt:    
Bank     IDR7.1  trillion  
Non-­‐Bank    
Loans  
47%   59%  
Loans  
4%  

Leasing  
Payables  
1%  

Below  1  Year   Over  1  Year  

16  
 Sec;on  4  
OperaZonal  Highlights  

Cikampek  -­‐  Palimanan  Toll  Road  (116  km),  West  Java,  Indonesia    
Indonesia’s  longest  toll  road,  opened  in  2015,  part  of  the  Trans  Java  highways  
 New  Contract  by  Project  Owner  (8M  2017)

52.7%   49.2%  

SOE  

Government  
Actual   Target    
Private  
8M  2017:     FY  2017:  
IDR  24.1  Trillion   IDR  40.6  Trillion  

13.6%  
33.7%   20.6%   30.2%  

18  
 New  Contract  by  Project  (8M  2017)

20.2%   32.4%   23.0%  

30.6%  
Buildings  

Road  and  Bridges  

3.5%   Actual   Target    
Energy   8M  2017:     2.4%   FY  2017:  
2.5%  
Irriga?on  
IDR  24.1  Trillion   IDR  40.6  Trillion  

Ports   10.1%  

Others  

26.3%   15.0%  
20.8%   13.1%  

19  
 New  Contract  by  Business  Lines  (8M  2017)

6.6%  
1.8%  
2.7%  
7.9%   2.2%  
Construc?on  
53.5%   56.2%  
3.8%   7.6%  
EPC  
Actual   Target    
Precast   8M  2017:     FY  2017:  
IDR  24.1  Trillion   IDR  40.6  Trillion  
Property   10.6%  

Construc?on  Equipment  

Infrastructure  &     26.3%  

Energy   20.8%  

20  
 Order  Book  (in  Trillion  Rupiah)

Order  Book    
New   (ex  JO)  
Contracts   86.7  
JO  
Order  Book     2.4  
New   (ex  JO)  
Contracts   64.9  
New  
JO  
Contracts  
7.3  
Regular  
Carry  
38.3  
New   Over  
Contracts   61.7  
Regular  
25.3   Carry  
Over  
48.4  

Carry  
Over  
Carry  
48.4  
Over  
39.6   Revenues  
Revenues   25.0  
16.4  

2016   2017  

JO:  Joint  Opera?on  

21  
 Sec;on  5  
Project  Progress  &  Investment  

Installa;on  of  precast  jeXy  at  Kuala  Tanjung  Port,  North  Sumatra  
Kuala  Tanjung  is  des;ned  to  be  a  Hub  Port,  part  of  Indonesia’s  strategic  projects  
 Project  Progress  up  to  end  of  August  2017

  Land    
Projects   AcquisiZon   ConstrucZon  
Progress   Progress  
1.  Kuala  Tanjung  Port  *   75.00%   83.75%  
2.  Medan  –  Kuala  Namu  –  Tebing  Tinggi  Toll  Road  **   100%   96.99%  
3.  Depok  –  Antasari  Toll  Road   92.97%   57.57%  
4.  Pandaan  –  Malang  Toll  Road   71.11%   24.43%  
5.  Manado  –  Bitung  Toll  Road   64.96%   21.19%  
6.  Cisumdawu  Toll  Road  **   37.00%   0.00%  
7.  Serang  –  Panimbang  Toll  Road  ***   40.00%   0.00%  

*  Change  in  contract  value  from  IDR897.7  billion  to  IDR1.21  trillion  
**  Sec?on  VII  will  start  on  September  2007  (land  acquisi?on:  61.37%)  
***  Construc?on  will  start  on  October  2017  
23  
 Investments  in  Associates  &  Other  Long-­‐Term  
Investments
A.  Investment  in  associated  enZZes  
No   Company   Share   Rp  Bn   Remarks  
1   PT  Prima  Mul?  Terminal   25.0%    247.4     Hub  Port  Kuala  Tanjung,  North  Sumatra   Infrastructure  
2   PT  Jasamarga  Pandaan  Malang   35.0%    137.3   Toll  Road  Pandaan-­‐Malang,  East  Java   Infrastructure  
3   PT  Sinergi  Investasi  Proper?   20.0%    91.7     JV  with  BPJS  Ketenagakerjaan  for  worker  housing  projects   Housing  
4   PT  Sentul  PP  Proper?   49.0%    49.7     Property  and  Realty,  Sentul,  West  Java,  10k  Ha   Property  
5   PT  Pekanbaru  Permai  Proper?ndo   40.0%    46.0     Condotel  Pekanbaru  Park,  Pekanbaru,  Riau   Property  
6   PT  Aryan  PP  Proper?   49.0%    45.1     Chid  Playing  Recrea?on,  Surabaya,  East  Java,  4,500m2   Property  
7   PT  Jababeka  PP  Proper?   49.0%    36.9     Property  and  Realty,  Cibitung,  West  Java,  25.8k  Ha   Property  
8   PT  Inpola  Meka  Energi   38.3%    34.4     Mini  Hydro  10MW  Lau  Gunung,  North  Sumatra   Energy  
9   PT  Solo  Citra  Metro  Plasma  Power   40.0%    25.0     Waste  to  Energy  10MW  Surakarta,  Central  Java   Energy  
Total   713.8  

B.  Other  long-­‐term  investments  

No   Company   Share   Rp  Bn   Remarks  
1   PT  Jasa  Marga  Kualanamu   15.0%   114.0     Toll  Road  Medan-­‐Kuala  Namu-­‐Tebing  Tinggi,  North  Sumatra   Infrastructure  
2   PT  Wijaya  Karya  Serang  Panimbang   15.0%   52.9     Toll  Road  Serang-­‐Panimbang,  Banten   Infrastructure  
3   PT  Citra  Waspphutowa   12.5%   60.0     Toll  Road  Depok-­‐Antasari,  Greater  Jakarta   Infrastructure  
4   PT  Jasamarga  Balikpapan-­‐Samarinda   15.0%   20.1   Toll  Road  Balikpapan-­‐Samarinda,  East  Kalimantan   Infrastructure  
5   PT  Citra  Karya  Jabar  Tol   14.0%   14.0     Toll  Road  Cileunyi-­‐Sumedang-­‐Dawuan,  West  Java   Infrastructure  
6   PT  Jasamarga  Manado-­‐Bitung   15.0%   10.8     Toll  Road  Manado-­‐Bitung,  North  Sulawesi   Infrastructure  
7   PT  Teknik  Rekayasa  Kereta  Kapsul   15.0%   7.5     Metro  Kapsul  LRT   Infrastructure  
8   PT  Sinergi  Colomadu   10.0%   4.2   Tourism  Des?na?on,  JV  with  other  7  SOEs   Hospitality  
8   PT  Pancakarya  Grahatama   15.0%   3.8     Business  Area,  Commercial,  and  Hotel  Project,  Bogor   Property  
9   PT  Mitra  Cipta  Polasarana   4.7%   1.6     Office  Space  Rental,  Menteng,  Jakarta   Property  
Total   288.4  

24  
 Sec;on  6  
Appendices  

Medan-­‐Kuala  Namu-­‐Tebing  Tinggi  (MKTT)  Toll  Road  Project,  North  Sumatra  

PTPP  owns  15%  stake  in  the  MKTT  toll  road  operator,  PT  Jasa  Marga  Kualanamu  
 Profit  &  Loss  Highlight,  June  30,  2017

(in  IDR  billion)   1H  2017   1H  2016   Δ   YoY  

   Opera?ng  Revenues    8,126      6,472      1,654     26%  
   Cost  of  Goods  Sold    (6,944)    (5,566)    (1,378)   25%  
   Gross  Profit    1,182      907      276     30%  
   Total  Opera?ng  Expenses    (293)    (224)    (69)   31%  
   Opera?ng  Income    890      683      207     30%  

   Other  Income    135      56      79     140%  

   Other  Expenses    (26)    (19)    (8)   42%  
   Impairment    (19)    (10)    (9)   86%  
   Interest  Expenses    (152)    (104)    (48)   46%  
   Profit  from  JV    63      33      31     94%  
   Income  from  Associated  Company    1      -­‐          1     N/M  
   Total  Other  Income  (Expenses)    2      (44)    46     N/M  
   Pre-­‐tax  Profit    892      639      253     40%  
     
   Total  Income  (Expenses)  Tax    (260)    (228)    (32)   14%  
   Net  Profit  Arer  Tax    632      410      221     54%  
   EBITDA    1,042      724      318     44%  

   Minority  Interest    59      55      4     8%  

   Net  Profit  Arer  Tax  &  Minority  Interest  (NPATMI)    573      355      217     61%  
   EPS,  fully  diluted,  IDR  (*)    92      73      19     26%  

(*)  Number  of  issued  shares  pre-­‐right  offering:  4,843,087,000  

           Number  of  issued  shares  post-­‐right  offering:  6,199,897,354  (ex-­‐right  December  2,  2016)      
26  
 Financial  PosiZons,  June  30,  2017

Jun  30,     Dec  31,    

(in  IDR  billion)   Δ   YoY  
2017   2016  
   Assets  
   Cash  and  cash  equivalents    6,662      9,125      (2,463)   -­‐27%  
   Short-­‐term  Investment    127      299      (172)   -­‐58%  
   Trade  Receivables,  net    5,958      4,776      1,182     25%  
   Gross  Receivables  from  Project  Owner,  net    5,984      4,906      1,078     22%  
   Inventories    2,845      2,656      190     7%  
   Other  Current  Assets    2,808      2,582      226     9%  
   Current  Assets    24,385      24,344      41     0%  
   Fixed  Assets,  net    4,448      4,178      270     6%  
   Other  Non  Current  Assets    2,992      2,711      281     10%  
   Non  Current  Assets    7,440      6,889      551     8%  
   Total  Assets    31,825      31,233      592     2%  
     
   LiabiliZes  and  EquiZes    
   Short-­‐term  Interest-­‐bearing  Debts    3,790      3,707      83     2%  
   Trade  Payables,  net    9,143      10,237      (1,094)   -­‐11%  
   Other  Current  Liabili?es    2,260      1,934      326     17%  
   Current  Liabili?es    15,193      15,879      (686)   -­‐4%  
   Long-­‐term  Interest-­‐bearing  Debts    3,322      3,083      239     8%  
   Other  Non  Current  Liabili?es    1,600      1,475      125     8%  
   Non  Current  Liabili?es    4,922      4,558      364     8%  
   Total  Liabili?es      20,115      20,437      (322)   -­‐2%  
   Shareholders’  Equity    11,710      10,796      914     8%  

27  
 Selected  Key  RaZos,  June  30,  2017
Jun  30,  2017   Jun  30,  2016  
   1.  Profitability  
   Gross  Profit  Margin   14.5%   14.0%  
   Opera?ng  Profit  Margin   10.9%   10.6%  
   EBITDA  Margin   12.8%   11.2%  
   Net  Profit  Margin*   7.0%   5.5%  
(in  IDR  billion,  unless  otherwise  stated)   Jun  30,  2017   Dec  31,  2016  
   2.  Leverage  
   Short-­‐term  Interest-­‐bearing  Debt    3,790      3,707    
   Long-­‐term  Interest-­‐bearing  Debt    3,322      3,083    
   Total  Interest-­‐bearing  Debt    7,112      6,790    
   Cash  and  cash  equivalents  +  Short-­‐term  Investment    6,789      9,424    
   Net  Debt  (Cash)    323      (2,634)  
   Equity,  including  Non-­‐controlling  Interests    11,710      10,796    
   EBITDA**    2,389      2,071    

   Gearing  ra?o  (x)   0.61   0.63  

   Net  Gearing  ra?o  (x)   0.03   -­‐0.24  
   Debt  to  EBITDA  (x)     2.98   3.28  
   Net  Debt  to  EBITDA  (x)     0.14   -­‐1.27  
Jun  30,  2017   Jun  30,  2016  
   EBITDA  to  Interest  Expense  (x)     6.86   6.94  

(*)  auributable  for  the  owners  of  parent  en?ty  

(**)  trailing  12-­‐months’  EBITDA  for  June  30,  2017  
   
28  
 Credit  RaZng,  Bonds

PTPP  credit  raZng  2012  -­‐  2016  

A+ Credit   ra?ng   agency   Pefindo   rated   PTPP   “A+”  

A   A   A   for   Corporate   as   well   as   outstanding   Bonds  
A- and  MTN  with  “stable”  outlook,  applied  up  to  
November  1,  2017.  
 
 
Dec  2012   Dec  2013   Dec  2014   Dec  2015   Nov  2016  
 
Source:  Pefindo  
 
 
Bonds  issuance  by  PTPP  (excluding  subsidiary)  
 
Currency   Size   Maturity   Due   Coupon  
Excluding  subsidiary,  total  outstanding  Rupiah-­‐
Rupiah   700  
Billion  
5  years   March  19,  2018   8.375%   denominated  bonds  reached  IDR  1.0  Trillion  
Rupiah   300   5  years   February  24,  2020   10.20%  
Billion  

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 Contact us at:
Investor Relations PT PP (Persero) Tbk
Plaza PP – Wisma Subiyanto
Jl. Letjend. TB. Simatupang No 57
Pasar Rebo, Jakarta 13760 – Indonesia
Telp. +62 21 840 3883; Fax. +62 21 840 3890
website : www.pt-pp.com