6M23 RESULT

ANALYST BRIEFING

27th July 2023

Forward Looking Statement
No representations and warranties shall be made in relation to the reasonableness, accuracy, completeness
or correctness of the information or opinions contained in this presentation. PT AKR Corporindo Tbk (the
"Company) together with members of the Board of Directors and Board of Commissioners or respective
affiliates have no liability whatsoever (whether negligent or otherwise) Any loss arising, directly or indirectly,
for the use, belief or distribution of this presentation or its content or due to any reason arising in connection
with this presentation.

The information and statistical data of third parties in this presentation is obtained from sources which the
Company believes to be reliable but there is no guarantee of the accuracy or completeness of the information.
This presentation does not cover all material information relating to the Company and the information
contained in this material is subject to change without notice.

This presentation may contain an estimate statement that includes risk, uncertainty and other factors. The
actual results, pro forma or achievements of the Company may differ materially with the results, pro forma or
future achievements expressed or implied by such statements. The forecast statement is based on
assumptions relating to the Company's current and future business strategy and future circumstances in
which it will operate and should be read in conjunction with those assumptions.

Predictions, projections or economic forecasts or economic trends over markets may not necessarily indicate
the probability of pro forma or pro forma of the Company in the future. The former pro forma may not
necessarily indicate pro forma in the future. The Company's future financial future is not guaranteed. Investors
should not rely solely on the forecast statement.

These materials are intended to serve as information only and not constitute or become part of an offer,
request or invitation from the purchase offer of the Company's securities. This information material has no
legal basis whatsoever, and can not be the basis for contracting, commitment, or investment decisions. Any
decision to purchase or subscribe to any Company securities must be based on the advice of appropriate
professionals.
Presenters

Haryanto Adikoesoemo
Suresh Vembu Ignatius Teguh Prayoga
President Director
Director & Corporate Secretary Head of Investor Relations
Majority Shareholder
CEO Message &
Business Analysis
1H 2023 Result Highlights – Continuing strong performance

1H23 performance highlights Sustained growth in 1H Net Profit

1,031
955

Net Profit EBITDA Gross Profit

Rp Billion
550
8%yoy 13%yoy 12%yoy
432
391

Rp 1,031 Bn Rp 1,604 Bn Rp 1,810 Bn

6M19 6M20 6M21 6M22 6M23

ROE Net Gearing

• AKR continues to show consistent growth on yearly basis

19% Net Cash with earnings growth of 8%yoy resulting ROE of 19% with
high cash position.

• In terms of growth, the performance of 1H23 is still on

track and we are expecting better growth in coming
quarters driven by:
1. Improving T&D performance and
2. New upcoming tenants in JIIPE.

5
CEO Message & Performance Highlights

6
Consistent Track record of Dividend payouts

Interim Dividend 6M 2023

Dividend per Total
Dividend payout
Year share
(IDR Bn)
DPR (%) Div. Interim Dividend
(IDR/share) Yield
2016
2017*
24
40
479
801
46%
47%
3%
6%
IDR 50/share; IDR 986.9bn
2018* 48 963 67% 11%
2019 22 442 62% 9%
2020 25 494 53% 8%
2021 29 572 52% 7%
6M 2023 Dividend Schedule
2022 75 1,480 62% 6%
2023 50 987 Description Date

Cummulative Cum Dividen in Reguler & Negotiable August 3, 2023

*incl. extraordinary gain total 6,218 Ex dividen in Regular Market & Negotiable
August 4, 2023
Market

• With consistent strong cash generation, AKR has provided a total Cum dividen in Cash Market August 7, 2023
cash dividend distributed of IDR 6.2tn in the last 7 years (including Ex dividen in Cash Market August 8, 2023
the 1H23 interim dividend) with an average dividend payout ratio of
Recording Date for the dividend interim August 7, 2023
more than 50%.
Payment of Dividend Interim August 16, 2023

7
Segmental Analysis
Ignatius T Prayoga
Highlight of Profit and Loss – 6 Months ended 30th June 2023
6M 2023 Income Statement (IDR bn) Revenue Breakdown 1H23
In Rp Bn 1H23 1H22 % Logistic and Industrial Estate
Manufacturing 3%
Total Revenue 19,855 22,109 -10% 4%

Cost of Sales and Revenue (18,045) (20,491) -12%

Gross Profit 1,810 1,618 12%
Operating Expense (456) (426) 7% Trading and
Distribution
Operating Profit 1,354 1,192 14% 93%

Other income (expense) 19 (16) -

Profit Before Final Income Tax 1,372 1,176 17%
Income Tax & Final Tax (280) (248) 13% Revenue Breakdown 1H22

Net Profit for the year before Non-Controlling

1,092 927 18% Industrial
Interest Logistic and Estate
Manufacturing 1%
4%
Non-controlling Interest (61) 28 nm
Net Profit for the year attributable to Shareholders 1,031 955 8%

Earnings Per Share (Rp/sh) 52.23 48.41 8% Trading and

Distribution
95%

EBITDA 1,604 1,416 13%

9
Gross Profit – Industrial estate segment contributes 17% of GP

Gross Profit Per Segment (IDR bn) Gross Profit Breakdown 1H23
Logistic and Manufacturing
6%
Industrial
Estate
1H23 1H22 18%

Trading & distribution 1,369 1,374

Trading and
Distribution
76%
Industrial estate 324 103

Manufacturing and Logistics 117 141 Gross Profit Breakdown 1H22

Logistic and Manufacturing
6%
TOTAL GROSS PROFIT 1,810 1,618 Industrial Estate
9%

Gross Profit Margin % 9.1% 7.3%

Trading and Distribution

85%

10
Improvement in Gross Profit with Significant contribution from JIIPE

Consistent Gross Profit Improvement (IDR bn) Consistent Earnings Improvement (IDR bn) 1H23 Revenue Breakdown
1,810 Industrial
Logistic and
1,031 Estate
Manufacturing
4%
1,618 955 3%

Trading and
1,092 Distribution
1,024 93%
550
837
432
391

1H23 Gross Profit Breakdown

Logistic and
Manufacturing
6%
1H19 1H20 1H21 1H22 1H23 1H19 1H20 1H21 1H22 1H23

➢ AKRA has delivered consistent growth in the past 5 years driven by all segments: Industrial
Estate
1) Trading and distribution 2) Industrial Estate and 3) Logistics and Manufacturing 18%

➢ AKRA recorded consistently improved Gross Profit and Net profit with 5-year CAGR of Trading and
Distribution
16.6% and 21.4% respectively 76%

➢ In 1H23, the gross profit increased by 12% with higher contribution from Industrial
estate segment- Trading and distribution margins were sustained

11
Trading & Distribution : Volumes on target with margins sustained

Petroleum Basic Chemicals

Petroleum Sales Volume ASP Petroleum Chemical ASP

Chemicals Sales Volume

May-19
Sep-19

May-20

May-21

May-22

May-23
Jan-19

Jan-20

Sep-20
Jan-21

Sep-21
Jan-22

Sep-22
Jan-23
2Q22 1Q23 2Q23
2Q22 1Q23 2Q23

➢ Q 2 2023 recorded higher sales than same quarter in previous ➢ Basic chemical sales volume in 2Q23 improved with growth of
years; Sales volume in 2Q23 is strong with 4%qoq and 5%yoy 7%qoq and 3%yoy
➢ Petroleum Sales during 1H23 reached 46% of full year guidance; ➢ Demand from smelter and other industries continues to rise
➢ Petroleum ASP is lower in line with the decrease in MOPS during ➢ Sales during 1H23 reached 50% of full year guidance
2023 ➢ Chemicals ASP during 6M 2023 is lower than 2022 and is
➢ Gross Margin is still within the guidance normalizing, but still above pre-covid level

12
Industrial estate land sales – Target 75 ha in 2023

JIIPE cumulative land sales & lease HAILIANG Binding Land Sale and Purchase Agreement
350

300

250
185
185
Hectares

200
185
150

103 103
100

50
127.5 147.1
60 69 83
52 52
0 24
2016 2017 2018 2019 2020 2021 2022 6M23 ➢ PT BKMS has secured another Marketing sales during 2Q23,
Land sold Land Leased
awaiting finalization of Land sales documentation to book sales

➢ During Q1 2023 (29th March 2023) a Binding Sale and Purchase

Land sales development (HA) Agreement was entered into between Hailiang and BKMS. to
purchase a large lot of industrial land for the construction
6M23 20
of Hailiang’s copper foil production plant in JIIPE Special Economic
Zone (SEZ JIIPE). Hailiang also signed agreements with BKMS for
FY22 44 cooperation to provide various industrial utilities.

FY23 Target 75
➢ The President Joko Widodo made his fourth visit to JIIPE for
groundbreaking inauguration of PT Nova Hailiang Indonesia on 20th
0 10 20 30 40 50 60 70 80 June 2023
accounting sales marketing sales

13
Operating expenses under Control

➢ Over five years, gross profit and net

profit of AKR grew gradually, with 5-
year CAGR 16.6% and 21.4%.

➢ Operating profit and net profit margins

to Gross profit margins shows
consistent improvements as the
margins from trading and distribution
improves and higher margins from
industrial estate.

➢ AKR also maintain strict control over

Opex which leading to lower opex to
gross margins ratio compared to
FY2022.

➢ Driven by performance improvement

and tight control of Opex led the
company to reach ROE of 19% and
ROA 8%

14
Balance Sheet Summary

Balance Sheet as at 30th June 2023

Assets Liabilities & Equity

Current Assets Current Liabilities
Cash and Equivalents 4,574 Trade Payables 5,749
Trade Receivables 6,133 Short term bank loans 10
Inventories 1,274 Current Maturities of LT bank loans 1,011
Industrial estate land inventory 2,162 Other Current Liabilities 1,345
Other Current Assets 300 Total Current Liabilities 8,115
Total Current Assets 14,443 Non-Current Liabilities
Non-Current Assets Long term bank loans 3,358
Long Term Receivables 260 Bonds Payable 37
Property, plant & equipment-Net 4,940 Other Long Term Liabilities 635
Investment Property 1,817
Industrial estate land under development 2,581 Total Liabilities 12,145
Other non-current assets 1,388
Total Non-current Assets 10,987 Total Equity 13,284

Total Assets 25,430 Total Liabilities & Equity 25,430

15
Stronger Working Capital and Leaner Balance Sheet
Improving Current Ratio Rising Working Capital ➢ AKR Current ratio shows
6,289 consistent improvement over
1.8 years from 1.4x in 4Q22 to 1.8x
1.7 5,250 1H23.
4,561

1.5 3,487 ➢ The working capital of 1H23 is

1.4 3,250
1.4 2,975 more ample compared to
1.3 1.3
1.3
1.3 beginning of year as result of
stringent working capital
management to tackle rising
interest rate environment
2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 1H23 1Q22 2Q22 3Q22 4Q22 1Q23 1H23
➢ 18% of Balance sheet position of
AKR in 1H23 consisting of 18%
Leaner Balance Sheet, Improving Equity Improving cash position cash and 26% JIIPE’s asset
5,000
related to land.
4,500 0.5
4,000
0.4 ➢ The net gearing ratio of 1H23
Cash 3,500
Other-non 3,000 reached -0.01x indicating a net
current 18% IDR bn 0.3
2,500 cash position
26% 2,000 0.2
1,500
JIIPE 1,000 0.1 ➢ AKRA applies lean balance
500 sheet strategy forming a stronger
26% 0 0
Other- working capital to be resilient
2019 2020 2021 2022 1H23
Current -0.1
30% facing interest rate uncertainty in
-0.2 the future.

16
Key Ratios
UOM 1H23 1H22
Profitability
Gross Margin % 9.1% 7.3%
Operating Margin % 6.8% 5.4%
Net Margin % 5.2% 4.3%

Asset Management
Return on Asset % 8.1% 6.9%
Return on Equity % 18.8% 19.1%

Total Asset Turnover x 1.6 1.6

Receivable Period Days 59 67

Inventory Period Days 13 21

Payable Period Days 58 100

Leverage Jun-23 Dec-22

Current Ratio x 1.8 1.4

Debt/equity x 0.3 0.2

Net Gearing x (0.01) (0.12)

17
Business Prospects

Suresh Vembu
FY23 outlook and onwards

2H23 Outlook Long Term Outlook

• Expecting seasonally strong sales volume • 1) Development of downstream and mining

as dry season may appear on 2H23 development of Indonesia may bolster the
Petroleum sales volume and 2) higher contribution
from retail Petroleum business

• Receiving higher highly committed pipeline • Expecting higher land sales as the
Industrial and expecting land sales higher than target manufacturing ecosystem develops with
of 70-75 HA in FY23 improving recurring income from utilities
Estate
• On track sales volume growth with softer • Expecting tailwind from rising mineral
year-on-year ASP smelters, especially for Caustic Soda Liquid
Chemicals and Sulfuric Acid

19
Petroleum Segment Outlook

Industrial Petroleum Retail Petroleum

Dry season in 2H23 AKR bp Retail Fuel Outlet Rollout

350
50

Number of Outlet
36
300
Target 350
250 Outlets in
2
2030
Season Zone

200
2018 2022 2023B

150
Contribution from Retail Fuel
100
2022 2028
50 Retail
15%
Retail
0 6%

Industrial
Beginning of Dry Season Peak of Dry Season Industrial Fuel
Fuel 85%
• According to BMKG, the dry season will commence on 2Q23 and 94%

peaking somewhere around 3Q23 which will support mining

companies to increase activity. • bp AKR will continue to expand as the mobility has
been improving post pandemic with target to operate
• For the general industry, The higher Projected GDP growth of 50 gas station in EOY 2023 and target of 350
Indonesia of +4.5-5.3% in 2023 and +4.7-5.5% in 2024 and PMI outlets in 2030 using combination of COCO and
above 50 may propel growth of industrial fuel. DOCO schemes.
20
Expansion of Petroleum Retail Network with bp AKR
- World Class fuel & non fuel offers boosting volumes

Significant
Providingchange
high quality
on Mogas
fuel and
landscape
user experience Significant Growth in sales over past 6 months
One-stop-shop with front store parking Compact Concept to Accelerate Growth Additional income from nonfuel business Average Daily 2022-2023
Volume Growth Retail 1H23: 236%yoy

Ron Ron
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23

92 95 Mature Lt/Day/station new Lt/Day/station All outlet lt/day

Network Expansion Plan Increasing Contribution from retail

AKR BP Retail Fuel Outlet Indonesia is underpumped 2022 2028

50 Country Stations Retail Retail

6% 15%
Number of Outlet

36 Thailand 26,000
Philipines 10,800 Industrial
Industrial
Fuel
2 94%
Fuel
Indonesia 8,000 85%
2018 2022 2023B
Malaysia 4,000 • bp AKR will continue to expand as the mobility has been
Currently 41 outlets operational (34CO, 7DO)
improving post pandemic with target to operate 50 gas station
Source: statista in EOY 2023 and target of 350 outlets in 2030 using
combination of COCO and DOCO schemes.
21
Land sales prospects - discussions ongoing with large companies

Land balance Pipeline of Land Inquiries & Utilities

1,761
Total Foreseeable electricity and land requirement in each industry
(in HA)
Petrochemical 200 HA 200 MW
500- 600 MW
Steel 100 HA 200 MW Potential Power
Base Metal Refinery 60 HA 147 MW Requirement
Copper Manufacturer 60 HA 70 MW
EV Battery 100 HA 100 MW >600 HA
Potential Land
Ferro Nickel Refinery 52 HA 80 MW
Enquiries
Solar Panel Glass 62 HA 100 MW
(2023-2027)
New Credit facilities signed with Bank BNI On course to realising our Targets
2022 1H23 2027*
Industrial
❑ PT BKMS signed Credit Facility of IDR 2.5tn (USD 166mn) with estate, 14%
Industrial Estate
18%
Bank BNI for financing Industrial estate activities

❑ IDR 2.0tn draw down on 29th June 2023 for Land, Utilities Trading and
Industrial
estate, 33%
distribution, Trading and
Development and other obligations 86% Distribution Trading and
81% distribution,
67%

22
 Building base for sustained recurring income

Potential Utility Requirements Projected Power Requirement Projected Water Requirement

900 800
800
700
700
600
600
500
500

MW
400 400

300 300
1.1-1.3 GW
200 200
Electricity 100
100
0
2021 2022 2023F 2024F 2025F 2026F 2027F 2028F 2029F 2030F 0
2024F 2025F 2026F 2027F 2028F 2029F 2030F

pln Internal Powerplant

Projected Gas Requirement BKMS Revenue Projection from Land sales and Utilities

800-850 LPS 70,000

16,000
Water
60,000 14,000

50,000 12,000
10,000

IDR bn
40,000
8,000
30,000
6,000
20,000 4,000

10,000 2,000
65-75 MMSCFD 0
-
2023F 2024F 2025F 2026F 2027F 2028F 2029F 2030F 2031F 2032F
Gas 2023F 2024F 2025F 2026F 2027F 2028F 2029F 2030F
Land sales + lease Utilities

23
ESG initiatives and
Strategies
AKR ESG Purpose & Goal
Vision
The Leading Provider of Logistic Services and Supply Chain Solutions for Bulk Chemical & Energy Distribution in Indonesia
→ To be the leading company, AKR must continuously improve, adjust, can anticipate changes, do innovation to win competition

Mision
Optimizing Our Potential to Build Sustainable Stakeholders Value
→ Our stakeholder expand from supplier, customer, employee, regulator, communities, business partner

SUSTAINABILITY HOUSE
(Umbrella for Sustainability Commitment Statement)

PROGRESSING WITH PURPOSE

Through our business we touch millions of people and stakeholders. Therefore, we must do
what we do in a sense that can benefit the economy, environment, people and society

31-Jul-23
25
Focus of AKR Supply Chain towards a Sustainable Future

Supply Chain Innovation &

Improve CO2 Reporting Sustainable Fuel Offering
Optimization
• Data Collection • Improvements to Supply Chain • Cleaner Fuel for Greener
• Data Analysis of Supply Chain • Reduction of Carbon Foot Print Transition
Emission • Transition Energy:
• Accuracy of Reports
• IT Innovation to optimize Supply
Chain ➢Biofuel
➢ to Improve Efficiency ➢Gas
➢To reduce cost
➢To improve service
➢To reduce risks

KEK JIIPE GRESIK

Sustainable Economic
Championing Industry Green Industrial Estate
Development
• Ease of Doing Business • Industrial Estate with zero water run off • Create big local employment
• 3 modes of transportation design opportunity
• Utility Center • Provides cleaner and renewable • Boost regional economy in East Java
➢To help industry in improving energy • Facilitating growth of export, import,
efficiency manufacture, and mineral processing
➢To make industry more competitive

26
Recognition of Our Sustainability Initiatives
Proud to receive prestigious
Emission Intensity ESG Rating & Indices
Recognitions
0.044
“PLATINUM Grade for
0.036
Emission Disclosure
(kgCO2 eq/Rp

2023” from Bumi Global

Karbon and Investor
0.02 Daily from B Universe

“The Best Company in

the Oil & Gas Category
2020 2021 2022
KEHATI Foundation
” from Bisnis Indonesia
informed that based on Award 2023
Truck Fleet Emission Reduction the evaluation AKR
maintain position for
indices below for period
8,241 June-November 2023:
1. ESG Quality 45 IDX
KEHATI “Winner on
-41% 2. ESG Sector Investment in Clean
kgCO2eq

Leaders IDX
4,587
KEHATI
Energy”
By HSBC Net Zero
3. AKRA is also
Transitions Special
included as
Award
constituent stock of
Investor 33

Also AKR still part of

2021 2022 TOP 8 IDX ESG Star
Listed Company

27
 Overall 1h23 performance is still on track

Chemical and Petroleum Segment will grow align with government push to manufacturing & Mineral
Downstreaming

1H23 Result Championing Manufacturing investments by developing World class Integrated Industrial and

Key
Port Estate - JIIPE SEZ

Takeaways Retail Fuel Division will speed up the roll out of gas stations to gain more market share

Land Sales will improve as ecosystem for downstream, EV and heavy industries starts to form which
will require immense of utilities usage which can be converted to recurring income.

AKR sustainability strategy focuses not only on carbon efficiencies but also providing cleaner & greener
energy and delivering recurring income growth

28
 THANK
YOU
Contact Details:
Corporate Secretary
corporate.secretary@akr.co.id
Investor Relation
ir@akr.co.id

AKR Tower
Jl. Panjang No.5 Kebon Jeruk
Jakarta Barat 11530
Indonesia
http://www.akr.co.id/