PT Astra International Tbk

1H 2013 Results Presentation

Disclaimer
This report has been prepared by PT Astra International Tbk independently and is circulated for the purpose of general information only. It is not intended for the specific person who may receive this report. The information in this report has been obtained from sources which we deem reliable. No warranty (expressed or implied) is made as to the accuracy or completeness of the information. All opinions and estimations included in this report constitute our judgment as of this date and are subject to change without prior notice. 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 PT Astra International Tbk 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. Cautionary note on forward-looking statements: This report may contain statements regarding the business of PT Astra International Tbk and its subsidiaries that are of a forward-looking nature and are therefore based on management's assumptions about future developments. Forward-looking statements involve certain risks and uncertainties because they relate to future events. Actual results may vary materially from those targeted, expected or projected due to several factors. Potential risks and uncertainties includes such factors as general economic conditions, foreign exchange fluctuations, interest rate changes, commodity price fluctuations and regulatory developments. The reader and/or listener is cautioned to not unduly rely on these forward-looking statements. We do not undertake any duty to publish any update or revision of any forward-looking statements.

Highlights
Overview
The Groups net earnings declined by 9%, with improved contributions from the financial services and mining contracting businesses offset by lower contributions from the automotive, heavy equipment and agribusiness segments.

Group results
Period ended 30th June 2013 Net Revenue (Rp bn) Net Income (Rp bn)* Earnings per share (Rp) 94,279 8,819 218 As at 30th June 2013 Shareholders Funds (Rp bn)** Net asset value per share (Rp)** 75,061 1,854 2012 95,919 9,678 239 As at 31st December 2012 71,201 1,759 Change (2%) (9%) (9%) Change 5% 5%

* Net income is profit attributable to owners of the parent. ** Shareholders' funds and Net asset value per share are based on equity attributable to owners of the parent.

Business structure
Automotive
Automobile Toyota Daihatsu Isuzu BMW Peugeot UD Trucks Motorcycle Honda Heavy Equipment Component SAN Finance Komatsu Astra Finance Banking Others Astraworld Bank Permata

Financial Services Heavy Equipment Agribusiness & Mining

Automobile Astra Credit Companies Toyota Astra Finance Motorcycle Federal Intl. Finance Mining Contractor PAMA Persada Nusantara Construction Machinery United Tractors Traktor Nusantara Palm Oil

Infrastructure & Logistics

Toll Road MMS : 72km MTN : 11km MHI : 41km Logistics SERA / TRAC Mobil 88 (used) SELOG TFLI Water Utility

Information Technology
Document Solution Astra Graphia

Astra Agro Lestari

IT Solution Astra Graphia Information Technology

Coal Mining

Palyja

Astra Otoparts

Insurance Asuransi Astra Buana

PMM TTA ABP BEE ABB / ABJ DS / DN PJU

Fuel Logistic
Gresik Terminal Sea Port Eastkal

Market position at 30 June 2013

Astras car market share declined from 56% to 53%, while Astras motorcycle market share increased from 57% to 60% Komatsu maintains its leading market position, despite tight competition and weaker demand for heavy equipment Car
Honda 8% Nissan 5% Suzuki 12% Others 8% Toyota 36% Yamaha 33%

Motorcycle
Suzuki 5% Kawasaki 2%

Heavy Equipment
Mitsubishi 13% Isuzu 3% Daihatsu 15% Kobelco 17% Others 2% Komatsu 41%

Honda 60%

Source : Gaikindo
Hitachi 22%

Source : AISI

Caterpillar 18%

Source: United Tractors Internal Market Research

2Q13 corporate actions

April AOP acquired 51% share of PT Pakoakuina (Pako), a wheel rim player for both 2W and 4W for Rp 700 billion

May

AOP completed right issue of Rp 3.0 trillion, with AI participation of Rp 2.9 trillion

June

AI placed 15.7% of AOP shares at a price of Rp 3,750 to increase the liquidity of the stock, generating Rp 2.8 trillion in gross proceeds

Financial Performance

1H13 environment
Economic conditions continue to support domestic demand, but the Groups operations are facing increased competition in the car market, higher labour costs and lower commodity prices Automotive demand remained favorable, benefiting from rising income, with increasing competition as a consequence of the introduction of additional domestic capacity New minimum down-payment requirements in automotive Shariah-financing had a negligible impact on automotive sales in the first-half results; it is too early to determine the impact of the fuel price increase on automotive sales Strong financial services performance, benefiting from loan book growth and a favorable credit environment Reduced demand in the heavy equipment business due to soft commodity prices. Improved coal mining contracting performance driven by increased mine site capacity Increased palm oil production, amidst lower average CPO prices
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Consolidated income statement

While the outlook for domestic demand remains positive, it is expected that increased competition in the car market, higher employee costs and lower commodity prices will continue to impact results in the second half of the year.
- Prijono Sugiarto, President Director

In Billion Rupiah USD / IDR, average Revenue Gross Profit Operating Expenses Other Income Equity Income Income Tax Expense Non-controlling interest Net Income

1H 2013 9,756 94,279 16,568 (8,673) 1,292 3,067 (2,125) (1,310) 8,819

1H 2012 9,250 95,919 17,915 (7,923) 952 2,937 (2,512) (1,691) 9,678

Change 5% (2%) (8%) 9% 36% 4% (15%) (23%) (9%)

Astra portfolio for the period 6 months to June 2013

Ownership % Share of NI % 1H 2013 Auto Non-Auto 1H 2012 Auto Non-Auto

4W Automotive
SO Toyota, Daihatsu, Isuzu Toyota Astra Motor Astra Daihatsu Motor Isuzu Astra Motor Indonesia 100 51 32 45 50 100 80 100 100 50 50 60 96 45 60 60 80 100 49 79 77 28.0 30.5

2W Automotive
Astra Honda Motor Honda SO 16.6 14.7

Net income contribution Auto vs. Non-Auto segments:

2001 2012 1H 12 1H 13

Component Astra Otoparts Financial Services

Astra Sedaya Finance Federal International Finance Toyota Astra Financial Services Komatsu Astra Finance SAN Finance Asuransi Astra Buana Permata Bank

5.5

5.2

Auto (Incl. auto

related Financial Services)

89%

64%

65%

69%

19.0

5.3

14.3

4.3

Non-Auto

11%

36%

35%

31%

Heavy Equipment & Mining

United Tractors Pamapersada Nusantara 16.0 19.3

Agribusiness Astra Agro Lestari Infrastructure, Logistics, IT

SERA Palyja Marga Mandalasakti Astra Graphia

6.5

7.9

3.1

3.8

Consolidated balance sheet

Astras net asset value of Rp 1,854 per share* at 30th June 2013 was 5% higher than at the end of 2012 Overall net debt at 30th June 2013, excluding financial services subsidiaries, was Rp 6.2 trillion, compared to net debt of Rp 8.9 trillion at the end of 2012. DER (incl. FinSer) was maintained at 47% In Billion Rupiah
Cash and Cash Equivalents Trade Receivables Inventories Financing Receivables Investments in Associates and Jointly Controlled Entities 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 Net Debt (Excl. Financial Services)
* Net asset value per share is based on equity attributable to the owners of the parent.

30-Jun-13
14,512 18,502 14,780 52,045 21,328 36,435 39,557 197,159 10,031 16,224 49,801 25,566 101,622 75,061 20,476 95,537 45,320 6,166

31-Dec-12
11,055 16,443 15,285 48,631 19,801 34,326 36,733 182,274 7,202 12,685 49,555 23,018 92,460 71,201 18,613 89,814 45,702 8,918

Change
3,457 2,059 (505) 3,414 1,527 2,109 2,824 14,885 2,829 3,539 246 2,548 9,162 3,860 1,863 5,723 (382) (2,752)

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Consolidated cash flow

The cash inflow from operating activities for the first-half of 2013 was Rp 12.3 trillion, an increase of Rp 4.3 trillion due to working capital improvement. In Billion Rupiah
Cash from operations Tax Payments Interest received Dividend Received Cash flow from Operating Activities + Dividend Received Net Capex Net Investment Other Investing Cash flow for Investing Activities

1H 2013
13,094 (3,336) 404 2,100 12,262 (4,851) (1,174) (152) (6,177)

1H 2012
7,919 (3,096) 365 2,784 7,972 (6,208) (706) (347) (7,261)

Change
5,175 (240) 39 (684) 4,290 1,357 (468) 195 1,084

Net proceed of Debt

Interest Payment Dividend Payment Other Financing Cash flow from Financing Activities Increase in Cash Opening Cash Balance Exchange Rate Adjustment Closing Cash Balance

2,349
(562) (7,051) 2,393 (2,871) 3,214 10,815 185 14,214

6,793
(482) (6,664) (62) (415) 296 13,071 93 13,460

(4,444)
(80) (387) 2,455 (2,456) 2,918 (2,256) 92 754

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Business Updates

Car
Domestic car sales grew by 12%. Astra was able to maintain a leading market position with market share of 53%.

1H12 535,261

1H13 601,952
Others 7.8% Nissan 5.2% Honda 8.2% Suzuki 12.5% Mitsubishi 12.9% Commercial 18.0% 4x2 & 4x4 357,164 66.7%
Isuzu 2.7%

Others 8.9% Others 233,626 43.6% Nissan 6.4% Honda 4.9% Suzuki 9.6% Mitsubishi 13.8% Commercial 16.4%
Isuzu 3.1%

Commercial 162,680 30.4%

Commercial 30.4%

Others 280,768 46.6%

Commercial 169,849 28.2%

Commercial 34.1%

Daihatsu 15.0%

Daihatsu 14.7%

Astra 301,635 56.4%

4x2 & 4x4 80.5%

Toyota 37.8% Sedan 2.9%

4x2 & 4x4 68.0%

Astra 321,184 53.4%

4x2 & 4x4 79.7%

4x2 & 4x4 415,702 69.1%

4x2 & 4x4 61.6%

Toyota 35.8%
Sedan 2.2% Sedan 2.7% Sedan 43.8%

Sedan 3.1%

Sedan 59.8%

M/S 1H12

AI Product Segment

Brand

Segment

AI Product M/S

M/S 1H13

AI Product Segment

Brand

Segment

AI Product M/S

Source: Gaikindo

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Product launches - car

Astra launched 6 new car models and 8 revamped models during the first-half of 2013

All New Avanza Airbag May 2013

All New Vios May 2013

All New Xenia Airbag May 2013

New Peugeot RCZ May 2013

Isuzu Giga FVZ June 2013

BMW 320d June 2013

14

Upcoming models Astras LCGC

Astra Daihatsu Ayla

Astra Toyota Agya

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Motorcycle
Motorcycle sales grew by 6%, while Honda sales grew by 12.5%, with market share increased from 57% to 60%. 1H 2012 3,702,354
Others 1.8% Others 1.8% Suzuki, 6.0% Yamaha, 1,311,323 35.4% Sport/Others 3.9% Scooter 1,409,337 67.1% Cub 609,932 29.0%
Brand 1H12 Source: AISI Honda Segment

1H 2013 3,923,695
Suzuki, 5.3%
Sport & Others 12.9%

Sport/Others 17.2 %

Sport/Others 28.0%

Sport & Others 16.3%

Yamaha, 1,277,781 32.6% Sport/Others 7.6% Scooter 1,717,700 68.7% Scooter 2,498,633 63.7%

Scooter 1,409,337 64.7%

Scooter 2,176,634 58.8% Honda, 2,364,297 60.3% Cub 1,046,459 28.3%

Segment Brand 1H13

Honda, 2,101,881 56.8%

Scooter 1,717,700 72.7%

Cub 609,932 58.3%

Honda Product M/S

Cub 466,995 19.8%

Cub 466,995 59.5%

Cub 784,760 20.0%

Segment

Honda Segment

Honda Product M/S

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Product launches - motorcycle

During the first-half of 2013 AHM launched 2 new models and 5 revamped models

Honda Verza January 2013

Honda Scoopy FI February 2013

Vario 125 CBS Idling Stop March 2013

Supra X 125 R April 2013

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Components
Astra Otoparts, the Groups 80%-owned automotive components business, reported net income of Rp 519 billion, a decrease of 2%, of which 71% was from associates and jointly controlled entities The 19% increase in revenue was offset by higher labour costs Revenue (IDR billion) Net Income (IDR billion)
528 4,961 8% 40%
After Market 25% OEM 67% Export 8% Export 6%

(2%)

19%

519

4,162 8% 40%

371

371

After Market 29% OEM 65%

52%
1H 2012 Export

52%

157
1H 2012 OEM

147
1H 2013

1H 2013 After Market

Equity Income

Consolidated 18

Financial services
Net income from the financial services businesses grew by 19% to Rp 2.1 tn, driven by loan book growth
Unit Financed ACC Auto 1H 2013 95,047 1H 2012 85,645 % 11

Asuransi Astra Buana 1H 2013 Gross Written Premium up by 22% year on year to Rp 1.9 trillion RBC : 201%, requirement 120%

TAFS
Total 4W FIF SANF

32,124
127,171 860,135 1,479 199 1,678

28,269
113,914 798,352 2,261 228 2,489

14
12 8 (35) (13) (33)

HE

KAF Total HE

Bank Permata 1H 2013 consolidated net income increased by 15% to Rp 818 billion Loan book grew by 27% to Rp 107.3 trillion

Amount Financed (Rp bio)

ACC TAFS Auto Total 4W FIF Total Auto SANF HE KAF Total HE

1H 2013
13,056 4,883 17,938 9,878 27,816 1,663 907 2,571

1H 2012
12,398 4,287 16,685 9,603 26,288 2,899 1,533 4,432

%
5 14 8 3 6 (43) (41) (42)

LDR 91.8% & CAR 15.6%

Net-NPL ratio were down from 0.5% to 0.4%

* Incl. Joint Financing

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Heavy equipment & mining

United Tractors, 59.5%-owned, reported net income down 25% to Rp 2.3 trillion, mainly due to lower heavy equipment sales Revenue (Rp bio) Mining Contracting
30,610
3,519 12,926 14,436 14,165

24,901
1,981

414.5 407.3
8,484

44.5 1H 2012
Mining Coal Production (mn tonnes)

50.1 1H 2013
Overburden Removal (mn bcm)

1H 2012
Construction Machinery

1H 2013
Mining Contracting

Komatsu Unit Sales

4,231
13% 21% 6%

Coal Mines: Reserves and Sales

Est. Combined Coal Reserves (Mio Tons)

3,046 1,555 2,169 1,459 1,491 710 1H 2012

PMM Mines

2,452
23% 21% 8% 48%

60%

1H 2012
Mining Forestry

1H 2013
Agro Construction

TTA PMM ABP ABB/ABJ DS/DN BEE PJU Total

33 8 9 84 45 200 45 424

1H 2013

TTA Mines (all in thousand tonnes)

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Agribusiness
Astra Agro Lestari, 79.7%-held, reported net income of Rp 717 billion Despite palm oil production increasing 11% to 704 thousand tonnes, revenue decreased 3% to Rp 5.5 trillion, due to 16% lower average crude palm oil prices achieved at Rp 6,638 per kg
Revenue (Rp bio)
5,647 104
Export

CPO Yield (tonne/Ha)

5,495 100 2.29 5,395 1H 2013 1H 2012 1H 2013 2.25

Local

5,543

1H 2012

CPO Production & Sales (K tonnes)

Area Maturity (K Ha) *

275 267 30 37
Immature Mature

636

644

704

752 237

238 1H 2013

1H 2012
Production

1H 2013 Sales

1H 2012
* Incl. plasma plantation

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Infrastructure and logistics

Marga Mandalasakti, Tangerang Merak 72.5km toll road operator, reported an 11% increase in traffic volumes to 20 million vehicles PAM Lyonnaise Jaya, the western Jakarta water utility system, reported a modest decrease in sales volume to 78.2 million cubic metres Serasi Autorayas revenue improved, supported by a 2% increase in vehicles under contract at its TRAC car rental business to over 31,000 units, however profit declined on higher depreciation and operating costs

TRAC Rental Car (unit)

30,658

31,223

1H 2012

1H 2013

MMS Vehicle Traffic Volume (K unit)

Palyja Water Sales Volume (Mn m3)

17,907

19,958

78.5

78.2

1H 2012

1H 2013

1H 2012

1H 2013

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Appendices

Divisional revenue and net income

Divisional Revenue
In Billion Rupiah
Automotive 4W 2W Components Financial Services Heavy Equipment Agribusiness

1H 2013
53,208 39,851 8,422 4,935 6,707 24,864 5,495

1H 2012
49,675 38,374 7,165 4,136 6,168 30,506 5,647

% Chg
7% 4% 18% 19% 9% (18%) (3%)

Infrastructure & Logistics Information Technology Total

3,105 900 94,279

3,095 828 95,919

0% 9% (2%)

Divisional Net Income

In Billion Rupiah
Automotive 4W 2W Components

1H 2013
50.1% 28.0% 16.6% 5.5%

1H 2012
50.4% 30.5% 14.7% 5.2%

D
(0.3%) (2.5%) 1.9% 0.3%

Financial Services Heavy Equipment Agribusiness Infrastructure & Logistics Information Technology

24.3% 16.0% 6.5% 2.5% 0.6%

18.6% 19.3% 7.9% 3.3% 0.5%

5.7% (3.3%) (1.4%) (0.8%) 0.1% 24

Car products launched in 1H13

Models Launched Car
Lexus LS 460 L Lexus LS 600 HL BMW X1 sDrive18i Business BMW X1 sDrive18i xLine BMW X1 sDrive20d Sport Isuzu NQR 71 BMW M 135i Toyota Etios Valco Toyota All New Avanza Airbag Toyota All New Vios Daihatsu All New Xenia Airbag Peugeot New RCZ Isuzu Giga FVZ BMW 320d *Off the road Jan-13 Jan-13 Jan-13 Jan-13 Jan-13 Feb-13 Feb-13 Mar-13 May-13 May-13 May-13 May-13 Jun-13 Jun-13 4,600cc 5,000cc 2,000cc 2,000cc 2,000cc 125ps 3,000cc 1,200cc 1,300cc-1,500cc 1,500cc 1,000cc-1,300cc 1,600cc 7,800cc 2,000cc 2,300 2,900 499* 559* 649* 287.5 888* 139.5-169.5 155.5-193 242.5-272.5 133.1-185.8 689.1* 788.5 659*

Launching Time

Engine Capacity

Prices (IDR mn)

25

Motorcycle products launched in 1H13

Models Launched
Motorcycle Honda Verza Honda Revo Series Honda Vario Honda Scoopy FI Honda Spacy FI Honda Vario 125 CBS Idling Stop Honda Supra X 125 R

Launching Time
Jan-13 Jan-13 Feb-13 Feb-13 Mar-13 Mar-13 Apr-13

Engine Capacity
150cc 110cc 110cc 110cc 110cc 125cc 125cc

Prices (IDR mn)*

16.1 16.9 13 14.6 13.9 13.2 16.4 14.9-15.9

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National market data (summary)

1H 2013 Wholesale
Sedan 16,401

1H 2012 Astra
43.8%

Wholesale
15,417

Astra
59.8%

Major Brands
Toyota - Vios/Limo, Camry, Altis ; Honda - City, Civic, Accord; Mercedes - E Series, C Series Toyota - Avanza, Innova, Rush, Yaris: Daihatsu - Xenia, Terios, Gran Max; Nissan - Grand Livina, March, Evalia; Suzuki - Ertiga, APV, Swift; Honda - Jazz, CR-V, Freed; Mitsubishi Pajero Sport, Mirage, Outlander Sport Mitsubishi Canter, L-300, Strada; Suzuki Carry; Daihatsu Gran Max; Isuzu Elf, Panther, Giga; Toyota Dyna ,,Hi-Lux, Hi-Ace Toyota Hilux; Mitsubishi Strada; Ford Ranger; Isuzu D-Max Honda - Supra X 125, Revo Series, Blade; Yamaha Jupiter MX, Vega RR, Jupiter Z; Suzuki Smash Titan, Shooter, Shogun Axello 125 Honda - BeAT, Vario, Scoopy; Yamaha - Mio, Xeon, X-Ride; Suzuki Nex, Hayate, Lets Yamaha - V-ixion, Byson, Scorpio Z; Honda - CB 150 R, Verza, New Mega Pro; Suzuki - Satria F 150, Thunder 125

4X2 & 4X4

415,702

61.5%

357,164

68.0%

Car
Pick Up/ Trucks/ Bus Double Cabin Total

162,248 7,601 601,952

33.5% 37.4% 53.4%

154,844 7,836 535,261

29.8% 41.4% 56.4%

Cub

784,760
2,498,633 640,302 3,923,695

59.5%
68.7% 28.0% 60.3%

1,046,459
2,176,634 479,261 3,702,354

58.3%
64.7% 17.2% 56.8%

Motorcycle

Scooter Sport & Others Total

Source: Gaikindo

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For further information please contact: Investor Relations of PT Astra International Tbk - Attn: Iwan Hadiantoro / Tira Ardianti / Inneke Soendoro / Christian P: (+62 21) 652 2555 F: (+62 21) 6530 4953 E: iwan.hadiantoro@ai.astra.co.id / tira.ardianti@ai.astra.co.id / laurentia.innekesoendoro@ai.astra.co.id / christian@ai.astra.co.id

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