PT ASTRA INTERNATIONAL TBK
Full Year 2017 - Results Presentation
Disclaimer The materials in this presentation have been prepared by PT Astra International Tbk (Astra) and are general background information about Astra Group business performances current as at the date of this presentation and are subject to change without prior notice. This information is given in summary form and does not purport to be complete. Information in this presentation, including forecast financial information, should not be considered as advice or a recommendation to investors or potential investors in relation to holding, purchasing or selling securities or other financial products or instruments and does not take into account their particular investment objectives, financial situation or needs. Before acting on any information, readers should consider the appropriateness of the information having regard to these matters, any relevant offer document and in particular, readers should seek independent financial advice. This presentation may contain forward looking statements including statements regarding our intent, belief or current expectations with respect to Astra businesses and operations, market conditions, results of operation and financial condition, capital adequacy, specific provisions and risk management practices. Readers are cautioned not to place undue reliance on these forward looking statements; past performance is not a reliable indication of future performance. Astra does not undertake any obligation to publicly release the result of any revisions to these forward looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events. We disclaim any responsibility or liability whatsoever arising which may be brought 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 Astra and/or its affiliated companies and/or their respective employees and/or agents accepts liability for any errors, omissions, negligent or otherwise, in this report and any inaccuracy herein or omission here from which might otherwise arise. 1
Highlights Net earnings per share Rp466
25%
Auto Market Share
54%
Group Results
75%
Return to profitability at Permata Bank
Sustained higher commodity prices benefited heavy equipment and mining businesses, as well as agribusiness
For the year ended 31st December 2017
2016
Change
Net revenue (Rp bn)
206,057
181,084
14%
Net income (Rp bn)*
18,881
15,156
25%
466
374
25%
As at 31st December 2017
As at 31st December 2016
Change
123,645
111,951
10%
3,054
2,765
10%
Net earnings per share (Rp)
Shareholders’ funds (Rp bn)**
Net asset value per share (Rp)**
* Net income is profit attributable to owners of the parent, i.e. Astra International shareholders. ** Shareholders' funds and net asset value per share are based on equity attributable to owners of the parent. The financial results for the year ended 31st December 2017 and 2016 as well as the financial position as at 31st December 2017 and 2016 have been prepared in accordance with Indonesian Financial Accounting Standards and are audited in accordance with the auditing standards established by the Indonesian Institute of Certified Public Accountants.
2
Business Structure Automotive
Automobile • Toyota • Daihatsu • Isuzu • BMW • Peugeot • UD Trucks
Motorcycle • Federal International Finance
• Menara Astra • Brahmayasa Bahtera • Samadista Karya • Astra Land Indonesia • Astra Modern Land
Motorcycle • Honda Component • Astra Otoparts
Others • AstraWorld
Financial Services
Automobile • Astra Credit Companies Other • Toyota Astra Finance
Property
Heavy Equipment, Mining, Construction and Energy
Heavy Equipment • Surya Artha Nusantara Finance • Komatsu Astra Finance
Construction Machinery • United Tractors • Traktor Nusantara
Banking • Permata Bank
Coal Mining • Tuah Turangga Agung
Insurance • Asuransi Astra Buana • Astra Life
Mining Contracting • Pamapersada Nusantara
Construction Industry • Acset Indonusa Energy • Bhumi Jati Power
Agribusiness
Palm Oil Plantation • Astra Agro Lestari Refineries • Tanjung Sarana Lestari • Kreasijaya Adhikarya • Tanjung Bina Lestari Commodity Trading • Astra-KLK Pte.Ltd Cattle in Palm Oil Plantation • Agro Menara Rachmat
Infrastructure and Logistics Toll Road • Marga Mandalasakti • Marga Harjaya Infrastruktur • Marga Trans Nusantara • Trans Marga Jateng • Trans Bumi Serbaraja • Lintas Marga Sedaya Sea Port • Pelabuhan Penajam Banua Taka Logistics • Serasi Autoraya
Information Technology Document Solution • Astra Graphia IT Solution • Astra Graphia Information Technology Office Services Solution • Astragraphia Xprins Indonesia
3
Market Position as at 31 December 2017 • Astra’s car market share decreased from 55% to 54%. • Astra’s motorcycle market share increased from 74% to 75%. • Komatsu market share increased from 32% to 35%. Car
Motorcycle Suzuki Kawasaki 1% 1% Yamaha 23%
Toyota 35% Others 46%
Heavy Equipment
Isuzu 2%
Others 17%
Daihatsu 17%
Source : Gaikindo
Honda 75%
Komatsu 35%
Source : AISI
Kobelco 15%
Hitachi 15%
Caterpillar 18%
Source: United Tractors – Internal Market Research
4
Corporate Actions Jan ‘17
• Astratel Nusantara completed the acquisition of an initial 40% interest in PT Baskhara Utama Sedaya, which owns 45% of Lintas Marga Sedaya, the operator of the newly operational 116.8km Cikopo-Palimanan toll road, and subsequently conditionally agreed to acquire the remaining 60% interest.
Mar‘17
• United Tractors’ 25%-owned Bhumi Jati Power, which will develop and operate two 1,000 MW thermal power plants in Central Java, completed its project financing agreement with lenders. This build, operate and transfer project is expected to cost approximately US$4.2 billion and is scheduled to start commercial operation in 2021. Bhumi Jati Power is a joint venture with Sumitomo Power Corporation and Kansai Electric Power.
Mar‘17
• United Tractors through its subsidiary Tuah Turangga Agung, completed the acquisition of an 80.1% stake in PT Suprabari Mapanindo Mineral, a coking coal company in Central Kalimantan.
5
Corporate Actions May‘17
• Astratel Nusantara acquired the remaining 60% interest in PT Baskhara Utama Sedaya, which owns 45% of the operator of 116.8km Cikopo-Palimanan toll road. The total acquisition cost of the Group’s ownership of PT Baskhara Utama Sedaya is approximately Rp5 trillion. • Astratel Nusantara increased its stake in the 72.6km Semarang-Solo toll road from 25% to 40%.
Jun‘17
• Permata Bank completed its Rp3.0 trillion right issue.
Sep‘17
• Astra Land Indonesia entered into an agreement to increase its shareholding in Astra Modern Land from 50% to 67%. • Astratel Nusantara divested its 49% stake in PAM Lyonnaise Jaya.
6
Financial Performance
7
Consolidated Income Statement “After a satisfactory overall result in 2017, the Group should continue to benefit from improving economic conditions and stable commodity prices, although competition seen in the car market is expected to intensify.” - Prijono Sugiarto, President Director -
In Billion Rupiah IDR / USD, average Net Revenue Gross Profit Selling, General and Administrative Expenses Other Income Share of Results of Joint Ventures and Associates Income Tax Expenses Non-controlling Interests Net Income
2017 13,398 206,057 42,368
2016 13,330 181,084 36,432
Change 1% 14% 16%
(22,042)
(18,898)
17%
2,176
1,370
59%
6,694
3,349
100%
(6,031) (4,284) 18,881
(3,951) (3,146) 15,156
53% 36% 25%
8
Divisional Net Revenue and Net Income Divisional Net Revenue In Billion Rupiah Automotive Financial Services Heavy Equipment, Mining, Construction and Energy Agribusiness Infrastructure and Logistics Information Technology Property Total
2017
2016
Change
95,210 18,641 64,429 17,306 6,841 3,610 20 206,057
94,440 17,762 45,112 14,121 7,189 2,451 9 181,084
1% 5% 43% 23% (5%) 47% 122% 14%
2017
2016
Change
8,868 3,752 4,469 1,602 (231) 198 223 18,881
9,166 789 3,032 1,599 263 196 111 15,156
(3%) 376% 47% 0% (188%) 1% 101% 25%
Divisional Net Income In Billion Rupiah Automotive Financial Services Heavy Equipment, Mining, Construction and Energy Agribusiness Infrastructure and Logistics Information Technology Property Total
9
Consolidated Balance Sheet
•
The net asset value per share was Rp3,054 at 31st December 2017, 10% higher than at the end of 2016.
•
Net cash, excluding the Group’s financial services subsidiaries, was Rp2.7 trillion at the end of 2017 compared with net cash of Rp6.2 trillion at 31st December 2016. The decrease was due mainly to new investments in toll roads, property and power plants. Correspondingly, at the Group’s parent company, Astra International, net debt rose to Rp9.2 trillion compared with net debt of Rp7.1 trillion at the end of 2016. The Group’s financial services subsidiaries had net debt of Rp46.1 trillion at the end of 2017, compared with Rp47.7 trillion at the end of 2016.
In Billion Rupiah Cash and Cash Equivalents Trade Receivables Inventories Financing Receivables Investment in Joint Ventures and Associates Fixed Assets Other Assets Total Assets Short-term Borrowings Trade Payables Long-term Debt Other Liabilities Total Liabilities Equity Attributable to the Owners of The Parent Non – controlling Interest Total Equity Net Debt (Cash) Net Cash (Excl. Financial Services)
31-Dec-17 31,574 25,420 19,504 63,252 39,260 48,402 68,234 295,646 16,321 29,468 58,657 34,871 139,317 123,645 32,684 156,329 43,404 (2,654)
31-Dec-16 29,357 19,426 17,771 64,639 33,987 43,237 53,438 261,855 18,764 22,489 52,146 28,550 121,949 111,951 27,955 139,906 41,553 (6,193)
Change 8% 31% 10% (2%) 16% 12% 28% 13% (13%) 31% 12% 22% 14% 10% 17% 12% 4% (57%) 10
Consolidated Cash Flow As at 31 December 2017, Astra’s ending consolidated cash balance (incl. bank overdraft) was Rp31.6 trillion. In Billion Rupiah
2017
2016
Change
Cash generated from operations
26,990
22,734
4,256
Tax Payments
(5,404)
(4,706)
(698)
1,699
1,379
320
23,285
19,407
3,878
7,033
3,820
3,213
(11,816)
(8,368)
(3,448)
Net Investment
(9,356)
(6,263)
(3,093)
Other Investing
(802)
13
(815)
(14,941)
(10,798)
(4,143)
3,372
2,685
687
Finance Costs Paid
(1,829)
(2,042)
213
Dividend Payments
(8,587)
(8,140)
(447)
860
1,609
(749)
(6,184)
(5,888)
(296)
2,160
2,721
(561)
29,356
27,072
2,284
58
(437)
495
31,574
29,356
2,218
Interest Received Net Cash flow provided from Operating Activities Dividend Received Net Capex
Net Cash flow used in Investing Activities
Net Proceeds of Debt
Other Financing Net Cash flow used in Financing Activities Increase in Cash Opening Cash Balance (incl. Bank Overdraft) Exchange Rate Adjustment
Closing Cash Balance (incl. Bank Overdraft)
11
Business Updates
12
Domestic Wholesale Car Market In 2017, car sales slightly increased, driven by the new product introductions in the Low MPV segment and increased commercial vehicle sales. Weak GDP of 4.79% (↓16%)
LTV Policy (↑25%)
In thousand units Astra Others
1,230
1,208
1,116 894 511
765 608
1,080
575
474
501
510
589
579
2015
2016
2017
594 503
411 338
486 290
1,063
1,013
Lehman Crisis (↓20%)
Improved GDP of 5.07% (↑2%)
205
318
281
2008
2009
427
483
2010
2011
605
655
614
2012
2013
2014
Segment
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Sedan
6%
5%
4%
3%
3%
3%
2%
2%
1%
1%
4x2 & 4x4
64%
69%
67%
64%
67%
65%
57%
54%
58%
55%
Commercial
30%
26%
29%
33%
30%
28%
27%
28%
19%
22%
LCGC
0%
0%
0%
0%
0%
4%
14%
16%
22%
22%
Source: Gaikindo
13
Automotive – Wholesale Car Market The wholesale Astra’s car salesmarket were 10% for cars higher wasatlittle 421,000 changed units, atresulting 1.1 million in an units. increase Astra’sincar market sales share were from 2% lower 50% at to579,000 54%. units, with its market share decreasing from 55% to 54% 2%
2017
2016
1,079,886
1,062,688
LCGC 234,554 / 21.7% Others 500,772/ 46.4%
LCGC 235,171/ 22.1% Other Brands 500,772 / 46.4%
Others 473,634/ 44.6%
Commercial 238,163 / 22.1%
Astra 579,114 / 53.6%
Commercial, 204,249/ 19.2% Isuzu, 20,085 / 1.9%
Isuzu, 16,724/ 1.6%
Daihatsu 186,381 / 17.3%
Daihatsu 189,683/ 17.8%
4x2 & 4x4 596,002 / 55.4% Toyota 372,614 / 34.5%
Astra 589,054/ 55.4%
Market Segment
4x2 & 4x4 609,667 / 57.4% Toyota 382,606/ 36.0%
Sedan 9,167 / 0.8%
M/S 2017
Other Brands 473,634/ 44.6%
Sedan 13,601/ 1.3%
Brand
M/S 2016 Source: Gaikindo
Market Segment
Brand
14
Automotive – Car Product Launches In 2017 , Astra launched 11 new model and 11 revamped models.
Lexus RX 200t F Sport (NEW) January 2017
Astra Daihatsu Ayla April 2017
BMW 530i (NEW) August 2017
Isuzu NLR (NEW) August 2017
Toyota Rush (NEW) November 2017
Daihatsu Terios (NEW) November 2017 15
Domestic Wholesale Motorcycle Market
• Wholesale market for motorcycles decreased by 1% to 5.9 million units in 2017. • Scooter segment continued to dominate the market. In thousand units Lehman Crisis (↓6%)
6,216
7,373
5,852
8,013
7,064 3,739
3,957 3,341
Weak GDP of 4.79% (↓18%)
LTV Policy (↓12%)
7,744
7,867
3,047
2,816
6,480
2,975
GDP Recovery of 5.07% (↓ 1%)
5,931
5,886
2,026
1,550
1,500
3,151
2,875
2,701
2008
2009
3,416
2010
4,274
4,089
4,697
5,051
4,454
4,381
4,386
2011
2012
2013
2014
2015
2016
2017
Astra
Others
Segment
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Cub
63%
52%
45%
37%
26%
19%
16%
12%
9%
8%
Scooter
26%
39%
46%
52%
60%
63%
68%
75%
79%
82%
Sport
11%
9%
9%
11%
14%
18%
16%
13%
12%
10%
Source: AISI
16
Automotive – Wholesale Motorcycle Market Astra Honda Motor’s domestic sales were slightly higher at 4.4 million units, resulting in its market share improving from 74% to 75%. 1% 2017 2016
5,886,103
5,931,285
Kawasaki 1.3%
Kawasaki 1.6%
Suzuki 1.2%
Yamaha 1,348,211 22.9%
Honda 4,385,888 74.5%
Brand 2017
Sport/Others 48.6%
Sport/Others 10%
Sport/Others 6.6%
Scooter 3,781,777 86.2%
Scooter 3,781,777 78%
Cub 316,922 7.2%
Cub 316,922 70.9%
Honda Segment
Honda Product M/S
Scooter 4,848,540 82.4%
Suzuki 1%
Yamaha 1,394,078 23.5%
Honda 4,380,888 73.9%
Cub 446,781 7.6% Segment
Sport/Others 49.3% Sport/Others 8.1%
Scooter 3,661,284 83.6%
Cub 363,906 8.3%
Brand 2016
Source: AISI
Sport/Others 12.2%
Honda Segment
Scooter 3,661,284 78.1%
Cub 363,906 69.7%
Honda Product M/S
Scooter 4,688,004 79%
Cub 522,082 8.8%
Segment
17
Automotive – Motorcycle Product Launches In 2017, Astra Honda Motor launched 8 new models and 18 revamped models.
Honda HondaCMX Scoopy 500(New) Rebel March 2017
Honda SH 150i (NEW) April 2017
Honda CBR 250 RR August 2017
Honda Revo October 2017
Honda CRF 150 (New) November 2017
Honda PCX 150 (NEW) December 2017 18
Automotive – Components Astra Otoparts, the Group’s components business, reported net income up 32% to Rp551 billion, due mainly to an increase in revenues arising from higher replacement market sales and improved contributions from its joint venture and associate companies.
Revenue (Rp bio)
Net Income (Rp bio)
32%
6%
13,550
46%
551 12,807
2017 FY17
Share of Results of Joint Ventures and Associates (Rp bio)
2016 FY16
335 418
2017 FY17
2016 FY16
230
2017 FY17
2016 FY16
19
Financial Services Net income from the Group’s financial services division increased to Rp3.8 trillion from Rp789 billion in the prior year due to a return to profitability at Permata Bank and improved earnings contributions from Astra Sedaya Finance, Federal International Finance and Asuransi Astra Buana. Unit Financed
Auto
HE
2016
%
2016
ACC
178,327
185,188
(4)
ACC
27,275
27,475
(1)
TAF
107,971
112,914
(4)
TAF
19,831
19,559
1
Total ACC & TAF
286,298
298,102
(4)
Total ACC & TAF
47,106
47,034
0
3,569
3,475
3
FIF (Incl.Electronics)
34,622
32,621
6
Total Auto
81,728
79,655
3
SANF
3,004
3,056
(2)
KAF*
2,855
1,643
74
Total HE
5,859
4,699
25
FIF (Incl.Electronics)’000
%
2017
2017
Amount Financed (Rp bio)
SANF
975
504
93
KAF
578
291
99
1,553
795
95
Total HE
Auto
HE
Permata Bank
Asuransi Astra Buana
• FY17 consolidated net income Rp748 billion (FY16: consolidated net loss Rp6.5 trillion). • Loan book decreased by 7% YoY to Rp98 trillion. • LDR rose from 80% to 88%; CAR rose from 15.6% to 18.1% • Gross NPL ratio fell from 8.8% to 4.6%; Net NPL ratio fell from 2.2% to 1.7%.
• Higher net income by 9% to Rp1.0 trillion. • FY17 Gross Written Premium up by 4% YoY to Rp4.4 trillion. • RBC: 288%** vs regulatory minimum of 120%. * Average exchange rate USD/IDR: 13,398 (FY17) & 13,330 (FY16) **Tentative figure, waiting confirmation from OJK
20
Heavy Equipment Market Heavy equipment market in 2017 improved significantly due to strong recovery in coal price. In Units Others
17,360
Komatsu
14,421 11,781
8,893
9,684 5,339
8,219
6,644
2008
6,049
5,912
5,354
8,467 6,202
5,404 3,111
2009
8,867
6,377
3,533 4,345
10,823
10,252
2010
2011
2012
4,203
3,513
2013
2014
6,844
3,788
4,663
2,124
2,181
2015
2016
7,035
3,788
2017
Market Share
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Komatsu
45%
47%
46%
49%
43%
41%
40%
36%
32%
35%
Caterpillar
23%
21%
16%
18%
19%
19%
18%
22%
17%
18%
Hitachi
17%
18%
19%
15%
21%
21%
20%
18%
20%
15%
Others
15%
14%
19%
18%
17%
19%
22%
24%
31%
32%
Source: UT’s internal research
21
Heavy Equipment, Mining, Construction and Energy United Tractors, which is 59.5%-owned, reported net income 48% higher at Rp7.4 trillion. The increase was mainly due to significantly stronger coal prices that led to improved performances in its construction machinery and mining contracting businesses, as well as its mining operations.
Revenue (Rp bio)
Mining Contracting
42%
64,559 3,030 7,181
45,539
Coal Production 3%
1,794 5,124
29,637
OB Removal 14%
798.7
701.5
24,003 24,711
112.6
14,618
2017
2016
Construction Machinery
Mining Contracting
Mining
Construction Industry
109.2 2017
Overburden (mn bcm)
Coal (mn tonnes)
Komatsu Unit Sales
Coal Sales (incl. Trading)
74%
7%
3,788
2016
General Contractor New Contracts 124%
15%
24%
2,181
11%
10%
8.4
46% 50%
14% 30%
2017
2016
Mining
Forestry
Construction
6,336
2017 Agro
6,866 3.8
2016
Total Coal Sales (all in thousand tonnes)
2017
2016
New Contracts Secured (Rp tn)
22
Agribusiness Astra Agro Lestari, which is 79.7%-owned, reported net income of Rp2.0 trillion. Despite improved revenue from higher crude palm oil prices and sales volumes, the result was little changed from 2016, which had benefited from significant foreign exchange translation gains. Excluding the impact of foreign exchange in both years, net income would have been 8% higher. Revenue (Rp bio)
CPO Yield (tonne/Ha)
17,306
23% 4,880
Export
3%
14,122 4,249
Local
12,426
2017
2016
CPO Production (‘K tonnes)
CPO & Derivatives Sales (‘K tonnes)
5%
1,634
2017
3.96
3.84
2017
2016
9,873
Average CPO Price (Rp/Kg)
12%
1,554
2016 CPO Production
6%
1,741
8,271
7,768
1,557
2017
2016
CPO & Derivatives Sales
2017
2016 23
Infrastructure and Logistics MMS Traffic Volume (‘000 units)
LMS Traffic Volume (‘000 units)
TMJ Traffic Volume (‘000 units)
4%
13%
3%
49,698
47,829
16,770
14,983
12,236
11,887
2017
2016
2017
2016
2017
2016
SERA Vehicles under Contract (units)
The 72.5km Tangerang-Merak toll road, operated by 79.3%-owned Marga Mandalasakti, saw traffic volumes increase by 4% to 50 million vehicles.
2% The 116.8km Cikopo-Palimanan toll road, in which the Group acquired 45% interest, traffic increased by 13% to 17 million vehicles. 23,397
2017
23,853
2016
At the 72.6km Semarang-Solo toll road, in which the Group has a 40% interest, 40.1km is now in operation and traffic rose 3% to 12 million vehicles Serasi Autoraya’s net income increased by 101% to Rp201 billion, due to higher net margins in its car leasing and rental, as well as logistics businesses, despite a 2% decline in its vehicles under contract and 18% lower used car sales. 24
Information Technology Astra Graphia, which is 76.9%-owned, reported net income 1% higher at Rp257 billion, mainly due to increased revenues from its office services business.
Astra Graphia Revenue (Rp bio)
3,918
44%
37%
1%
2,713 4%
38% 25%
41% 113 1,134
38%
55%
37%
1,543
2017
2016
25%
AGDS
Astra Graphia Net Income (Rp bio)
AGIT
257
255
2017
2016
AXI
25
Property Net Income (Rp bio) Net income from the Group’s property division was up 101% at Rp223 billion, primarily due to higher development earnings recognised on its Anandamaya Residences project. Anandamaya Residences and Menara Astra are scheduled for completion in 2018.
101%
223
111
2017
50%-owned Astra Land Indonesia, which owns 67% of Astra Modern Land, is in the process of developing a 67-hectare site in East Jakarta.
2016
26
Appendices
27
Car Product Launches 2017 Models Launched
Launching Period
Engine Capacity
Prices (Rp mio)
Lexus RX 200t F Sport (NEW)
Jan’17
2,000cc
1,340
Toyota Kijang Innova Venturer
Jan’17
2,000cc-2,400cc
388.6-447.9
Toyota Corolla Altis
Jan’17
2,000cc
426.1-460.6
Astra Toyota Agya
Apr’17
1,000cc-1,200cc
127.6-151.9
Astra Daihatsu Ayla
Apr’17
1,000cc-1,200cc
92.6-146.3
Toyota Voxy (NEW)
Aug’17
2,000cc
446
Lexus LS 500 (NEW)
Aug’17
3,500cc
3,500
BMW 530i Luxury (NEW)
Aug’17
2,000cc
1,149*
BMW 530i M Sport (NEW)
Aug’17
2,000cc
1,379*
BMW 520d (NEW)
Aug’17
2,000cc
1,009*
Toyota Innova
Aug’17
2,000cc-2,400cc
298.7-453.8
Toyota Fortuner
Aug’17
2,400cc-2,700cc
467.3-659.4
Toyota Sienta
Aug’17
1,500cc
233.7-323.5
Toyota Hilux
Aug’17
2,000cc-2,500cc
203.4-446.9
* Off the Road price
28
Car Product Launches 2017 Models Launched
Launching Period
Engine Capacity
Prices (Rp mio)
Lexus NX
Aug’17
2,000cc
1,005
Isuzu MU-X 4x4 (NEW)
Aug’17
2,500cc
468
Isuzu MU-X
Aug’17
2,500cc
485-498
Isuzu NLR 55 (NEW)
Aug’17
2,800cc - 100ps
244.7-257
Isuzu NLR 71 (NEW)
Aug’17
4,600cc -125ps
264.7-274.3
Toyota Rush (NEW)
Nov’17
1,500cc
239.9-261.3
Daihatsu Terios (NEW)
Nov’17
1,500cc
195.2-247.9
Daihatsu Xenia Custom
Nov’17
1,300cc
202.4-213.3
29
Motorcycle Product Launches 2017 Models Launched
Launching Period
Engine Capacity
Prices (Rp mio)
Honda PCX 150
Jan’17
150cc
40.1
Honda CRF 250 (NEW)
Feb’17
250cc
62.9
Honda CRF 1000L Africa Twin (NEW)
Feb’17
1,000cc
464-499
Honda CBR 250R Repsol
Feb’17
250cc
63.2-72
Honda CB 500F
Feb’17
500cc
139.3
Honda CBR 500R
Feb’17
500cc
144.3
Honda Supra X 125
Feb’17
125cc
16.8-17.8
Honda Scoopy (NEW)
Mar’17
110cc
17.8
Honda CB 500X
Mar’17
500cc
147.4
Honda CMX 500 Rebel (NEW)
Mar’17
500cc
147.4
Honda SH150i (NEW)
Apr’17
150cc
44.9
Honda CB650F
Apr’17
650cc
235
Honda Vario 150
Apr’17
150cc
21.2
Honda Vario 125
Apr’17
125cc
18.2-18.8
Honda Supra GTR
Apr’17
150cc
21.6-21.8
Honda CBR 150R
Apr’17
150cc
33.0-33.7
Honda BeAT Street
Jun’17
110cc
15.9 30
Motorcycle Product Launches 2017 Models Launched
Launching Period
Engine Capacity
Prices (Rp mio)
Honda CBR1000R (NEW)
Aug’17
1,000cc
575.4
Honda CB150R
Aug’17
150cc
26-27.1
Honda CBR250RR Kabuki
Aug’17
250cc
63.5-70.8
Honda Sonic 150R
Sep’17
150cc
21.9-22.3
Honda BeAT POP eSP
Oct’17
110cc
14.7-15.4
Honda Revo
Oct’17
110cc
13.6-15.3
Honda CRF 150 (NEW)
Nov’17
150cc
31.8
Honda Vario eSP
Nov’17
110cc
16.7-17.6
Honda PCX 150 (NEW)
Dec’17
150cc
27-32
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National Automotive Market Data
Motorcycle
Car
2017
2016
Wholesale
Astra
Wholesale
Astra
Non LCGC
845,332
48%
827,517
52%
LCGC
234,554
75%
235,171
69%
Total
1,079,886
54%
1,062,688
55%
Cub
446,781
71%
522,082
70%
4,848,540
78%
4,688,004
78%
Sport
590,782
49%
721,199
49%
Total
5,886,103
75%
5,931,285
74%
Scooter
Major Brands Toyota – Avanza, Innova, Fortuner; Honda – HR-V, Mobilio, BR-V, Daihatsu – Xenia, Terios, Gran Max Astra Toyota – Calya, Agya; Astra Daihatsu – Sigra, Ayla; Honda - Brio Satya; Datsun - GO Panca; Suzuki - Karimun Wagon R Honda - Supra Series, Revo Series, Blade; Yamaha – Jupiter MX King, Jupiter ZX, Vega Force; Suzuki – Smash; Kawasaki - ZX130, Edge Honda - BeAT, Vario, Scoopy; Yamaha - Mio, N-Max, Fino; Suzuki – Address, Nex Honda - CB 150 R Street Fire, Verza, CBR 150R, Sonic 150R; Yamaha - V-ixion R - 15, Xabre, Byson; Suzuki - Satria F 150; Kawasaki – Ninja
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Equity Research Contact Details No
Brokerage House
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Analyst Name Andri Ngaserin Pandu Anugrah Erindra Krisnawan Arief Budiman Ferry Wong Sarina Lesmina Jahanzeb Naseer Stefanus Darmagiri Maynard Priajaya Arif Joko Sogie Pramod Kumar Tarun Bhatnagar Chandra Pasaribu Aditya Srinath Robertus Yanuar Hardy Ariyanto Kurniawan Isnaputra Iskandar Swati Chopra Franky Rivan Arnold Sampeliling Elvira Tjandrawinata Bagus Hananto Andrey Wijaya Akhmad Nurcahyadi Evan Lie Hadiwidjaja Raditya Immanzah Willinoy Sitorus Ronald Liem Stevanus Juanda Budi Rustanto Yusuf Ade Winoto
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For further information please contact: PT Astra International Tbk Corporate Investor Relations P: (+62 21) 652 2555 F: (+62 21) 6530 4953 E:
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