Profile

Industry Sector Property, Real Estate & Construction
Industry Sub Sector Building Construction
Established 11 March 1960
Listed 18 March 2004
Listed Company Code ADHI
Listed Shares 3,560,849,376
Dividend Yes
Major Shareholders (>5%) Government of Indonesia (51.00%)
Key Subsidiaries Adhi Persada Realty
Adhi Persada Property
Adhi Multipower Pte. Ltd

Stock Quote Adhi Karya - ADHI:

Business Summary

Adhi Karya’s core business comprises of:

Civil and Building Contractor

- Civil contractor engaged in civil buildings owned by the government or private enterprises
- Building contractors engaged in buildings owned by the government or private enterprises

 EPC (Engineering Procurement Construction)

EPC involve the company’s business activities for planning, procurement, and construction, particularly in businesses related to the oil & gas industry as well as power plants.

 Property Business

Adhi Karya’s property business involves an investment business for infrastructure development, which includes offices, apartments, and hotels.

 Real Estate Business

The company’s real estate business involves investment activities for the provision of residential facilities (landed houses) with cluster projects in strategic locations.

Precast Manufacturing

- The company engages in the production of precast concrete to cater the road and bridges precast, building precast, foundation and retaining wall precast, port and sea precast, special needs precast

Revenue Contribution per Business Line:

   2014  2015  2016
Construction Services
78.2% 85.1%
EPC 10.0%  6.7%
Property  7.7%  6.5%
Real Estate
 2.3%    -
Precast Manufacturing
   -  1.6%

Source: Adhi Karya, Annual Report 2016

Adhi Karya was originally a Dutch company, founded under the name of Architecten en Ingenicure Aannemersbedrijf Associatie Seleen de Bruyn, Reyerse en de Vries N.V., but was nationalized on 11 March 1960 and then changed its name to Adhi Karya. In 1974 the company became a limited liability company, and in 2004 Adhi Karya became the first construction company that listed on the Indonesia Stock Exchange.

Adhi Karya's Financial Highlights:

     2009    2010    2011    2012    2013    2014    2015    2016
Revenues  7,714.6  5,674.9  6,695.1  7,627.7  9,799.6  8,653.6  9,389.6 11,063.9
Gross Profit    655.5    710.6    734.4    955.9  1,193.2    998.2    974.6  1,115.1
Net Income    165.5    189.5    182.1    211.6    406.0    329.1    463.7    313.5
Operating
Income
   536.8    550.8    413.5    509.5    824.3    736.1    882.8    728.6
EBITDA    430.0    440.4    412.0    514.8    837.7    759.0    913.6    926.6
Total Assets  5,629.5  4,927.7  6,113.0  7,872.1  9,721.0 10,458.9 16,761.1 20,095.4
Total Liabilities  4,888.6  4,059.9  5,122.6  6,691.2  8,261.0  8,818.1 11,598.9 14,652.7
Earnings
per Share¹
   94.20   107.83     101     118     227     183     203      88
Cash Dividend
per Share¹
   11.51    28.26    32.35     31.1     23.5     67.6     18.2     26.2
P/E Ratio (x)      4.5      8.7      5.7     15.1      6.7     19.0     16.4     23.6
EV/EBITDA (x)     10.2      7.0      9.0

in billion IDR rupiah unless otherwise stated
¹ in IDR rupiah
Source: Adhi Karya, Annual Report 2016

Adhi Karya's Outstanding Bonds:

Year Issued Bond Name Total Emission
(IDR million)
Coupon Rate/
Profit Sharing (%)
Maturity Date
2012 ADHI Revolving Bonds | Tranche 1 A Serie 375,000 9.3 p.a. 3 July 2017
2012 ADHI Revolving Bonds | Tranche 1 B Serie 250,000 9.8 p.a. 3 July 2019
2012 ADHI Revolving Sukuk Mudharabah | Tranch 1 125,000 73.0* 3 July 2017
2013 ADHI Revolving Bonds | Tranche 2 A Serie 125,000 8.1 p.a. 15 March 2018
2013 ADHI Revolving Bonds | Tranche 2 B Serie 500,000 8.5 p.a. 15 March 2020
2013 ADHI Revolving Sukuk Mudharabah | Tranch 2 125,000 63.3* 15 March 2018

* profit sharing/equivalent interest
Source: Adhi Karya, Annual Report 2014

Future Forecast Adhi Karya's Financial Highlights:

     2014    2015   2016F   2017F   2018F
Revenues  8,653.6  9,389.6 11,757.0 15,179.0 20,675.0
Net Income    329.1    463.7    470.0    521.0    741.0
EBITDA    759.0    644.0    785.0    959.0  1,354.0
P/BV (x)
     2.6      1.4     1.3     1.2     1.1
P/E Ratio (x)     16.8     16.0    15.8    14.2    10.0

in billion IDR rupiah unless otherwise stated
¹ in IDR rupiah
Source: Samuel Sekuritas (06/02/2017)

Location

Contact Details

Jalan Raya Pasar Minggu Km. 18
Jakarta 12510
Phone: +62 21 797 5312
Fax: +62 21 797 5311
Email: e.adhinet@adhi.co.id
www.adhi.co.id