TUGAS PENGANTAR MANAJEMEN DAN BISNIS

NAMA KELOMPOK ;
•SISKA DAMAYANTI
•KHOIRUNNISA
•FIDY

1
PT. PERTAMINA PERSERO

adalah sebuah badan usaha miliK negara Indonesia yang bergerak di

bidang minyak dan gas. Untuk menjalankan bisnis utamanya,
perusahaan ini memiliki enam subholding yang masing-masing
bergerak di
bidang hulu, kilang & petrokimia, komersial & perdagangan, gas, listr
ik & energi terbarukan, dan pengapalan. Selain itu, melalui anak-anak
usahanya yang lain, perusahaan ini juga berbisnis di
bidang asuransi, pelayanan kesehatan, penerbangan,
dan pengembangan properti
 1 Indonesia’s Economic
Update
2 Financial & Operational
Presentation Updates
Outline 3 2022 Strategy

4 Sustainability
Initiatives

3
 National Economy
“Indonesia
Recovery:economy indicators are going Highlight
stronger” :

2020 50 • Indonesia's Manufacturing Purchasing

Managers' Index (PMI) stood at
Indonesia 53.5 in December 2021. The average
2021
Manufacturing PMI for 2021 was positive, indicating
PMI the economy has expanded despite
the pandemic.

• Indonesia's economic growth showed

Mar
Apr

Mar
Apr
Fe

Ma

Ma
Jan

Dec
Jun

Jun
Dec
Jan
Feb
Jul

Jul
Sep

Sep
Aug

Aug
Nov

Nov
Oct

Oct
b

y
an upward trend at the end of 2021
due to pandemic control, increased
mobility, and escalated economic
7.07% activities. Cumulatively, the Indonesian
5.02%
National Economic 3.51% economy throughout 2021 grew by
Growth (year on year) 3.69.
-0.74%
-2.19%
• Those indicators better off
two
compared to 2020.
Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021

4
Sources: S&P Global, Badan Pusat
 1

2 Financial
Indonesia’s & Operational
Economic Update
Presentation Updates
Outline 3 2022 Strategy

4 Sustainability
Initiatives

5
Key
highlights

Financ Operation Cape Government

e x Support
A significant increase in Upstream and downstream Capex realization in 2021 Government provides continuous
Revenue and Net Income businesses have increased has increased to support support through payment and
represent a speed-up business compared to 2020, in line with investment predominantly implementation of new policies.
recovery. Meanwhile, EBITDA the post-pandemic economic in upstream, refinery and
and cash position are more improvement. petrochemical sectors,
robust than last year. including restructuring.

Revenue 39% Oil & Gas Production 4% Capex (cash) 20% Payment USD2.1 billion
EBITDA 22% Product Sales Volume 4% Compensation recognition
USD4.7 billion

6
Strategic Actions
2021“Several actions had been taken to strengthen the company in facing
FINANCE
The cost optimization
program across Pertamina
Group includes cost saving,
cost avoidance, and revenue
enhancement
Active hedge program for
market
risk management
Centralize procurement
to achieve cost saving
Capex
prioritization
Asset and Liability
Management to lower the
cost of fund
challenges”
OPERATION
Optimize load factor in POLICY
Working&with government
REGULATION
shipping to increase revenue and stakeholders to
and cost efficiency determine pricing policy
dynamics
Increase gas trade
Regulation adjustment
and transportation
which gives favorable
impact towards the
Increase oil and gas production Company
and lifting following the high
prices
Maximize the production of
refinery products for valuable
products Energy conversion (fuel
to gas and electricity) to reduced
own fuel consumption.
Resource sharing after legal end
state, such as sharing facility and
sharing development agreement,
especially in upstream sub-holding
7
Financial Highlight
“Financial
(1/3) figures improve significantly, align with economic
recovery”
Profit &
FY FY YoY Key FY FY YoY
Loss
2020 2021 Parameter
(USD % 2020 2021 %
Revenue 41.47 57.51 Forex Rate1) (USD/IDR) 14,572 14,312 -2% 
Billion) 39% 
Cost of sales and operating 37.37 52.55 ICP1) (USD/Bbl) 40 68
41%  70% 
expenses
Operating Profit 4.10 4.96 21% 
Net Income/(Loss) 1.05 2.05
Highlights
95% 
EBITDA 7.61 9.26 • Higher oil & gas lifting and product sales contribute
22% 
Financial
FY FY YoY to the higher revenue, supported by the oil price.
Positions
(USD Billion) 2020 2021 %
Cash 9.94 10.93 10%  • However, oil price increase also impacted cost of sales
Total Assets 69.14 78.05 13% 
and operating expenses. Several strategic actions were
Debt 19.40 22.29
taken during the period to address this challenge.
15% 
Loans & bonds 17.53 20.62 18%  • 2021 has shown Government's consistent support to
Leases 1.87 1.66 -11%  Pertamina, especially in downstream operations by
Total Liabilities 37.89 44.72 18% 
recognizing compensation and payments for price
Total Equity 31.25 33.33 differences .
7% 
Yearly Average
1)
8
Sources: Consolidated Financial Statements as of December 31,2021, RKAP Report Q4 2021, and team
Financial Highlight
“Strong
(2/3) Government support through payment and new
policies”
Receivables from recognition of disparity selling price (include
tax)
USD Billion Highlight
s
• Compensation recognized for 2021
2.10
was at USD4.72 billion.
5.87
4.72
• The Government has paid around
USD2.10 billion for 2018 and
2019 compensation receivables.
3.25
This shows Government continuous
support to Pertamina.

Receivables Recogniti Payment & Receivables

as Dec on for offset in as Dec
2020 2021 2021 2021

Sources: MSRKAP December 2021/2020, Net/Loss Performance December 2021, RKAP Report Q4 2021, and team 9
analysis
Financial Highlight
“The
(3/3)ratios remains
stable” 18.35
8.63 16.09
%
2.53
3.56%
% % Highlight
%
• Despite the difficulties,
9.89%
Pertamina’s
Profit Margin Operating EBITDA profitability ratios remain stable.
Margin Margin • Financial covenants and ratios are all
10.59 0.34 62.08 66.87 in good shapes and reflecting good
0.30
8.51 % % serviceability on the debt, such as
DSCR, Debt to EBITDA, EBITDA to
Interest, etc.

EBITDA/ Net Debt/ Net Debt to Equity

• Debt to equity ratio still provides a
Interest Worth Ratio
healthy debt room to fund capex for
5.87 2.55
5.33 2.41 future growth.
2020
2021

Debt Service Coverage Ratio Debt to EBITDA

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Cape
“xAccelerate Capex deployment for revenue generating
projects”
USD Highlights
FFYY22 FFYY22
billion
002200 009,350
2211 • Cash drawdown for investment
in 2021 increased by 20.39%
compared to 2020.
3,670
• The cash realizatio
predominately n
4,718
projects
in (45%) and refineries
upstrea
& petrochemical projectsm
(37%).
Restructuring (Non
Cash) • Company’s restructuring involves
5,680
Cash the increase in equity capital on
the subholding and the transfer
of assets.

Sources: MSRKAP December 2021/2020, Net/Loss Performance December 2021, RKAP Report Q4 2021, and team 11
analysis
Operational Highlight
(1/4) Highlight
Upstrea FY 2020 FY
•s Production and lifting increased by
2021
m 4% and 3%, contributed by Rokan
Block and overseas assets.
863 +3.94% 897 • 12 exploration and 350 exploitation
Oil & Gas 408 445 wells have been drilled.
Production 455 452 • Resource findings (2C)
MBOEPD 486.70
reached MMBOE, and
+3.41% Oil additional
proven reserves (P1) reached
704 728 Ga 623.47 MMBOE.
368 399 s
Oil & Gas
Lifting 336 329 Highlight
MBOEPD
Refining & •s Refiner production increased
Petrochemic yresponse tointhe rising demand due
FFY 2020
to
al pandemic recovery.
FFYY22002211
• Yield of
3%, duevaluable productand
to crude increased
product
Total by
optimization strategy crude
+0.74%
Production through &
selection
MMbbl 294 296 substitution.
+2.58%

Yield of 78.34% 80.36%

Valuable
Products 12
Sources: MSRKAP December 2021/2020, Net/Loss Performance December 2021, RKAP Report Q4 2021, and team
Operational Highlight
(2/4)
Marketing
& Trading FY FY
2020 2021 Highlight
s
Product +4.49% • The increase in demand contributed to
Sales 89 93 the higher sales volume by 4%. As the
Mio KL economic activities increase, the
Fuel average monthly product sales have
72 75
Non Fuel (LPG, Petchem & reached the pre-Covid level.
Others)
17 18 • In 2021, Government has revised
+2%
several fuel-related policies, including
compensation for price difference. One
+12%
+11% of them is the Minister of Finance
8.3
7.6 7.7
7.2
8.0 7.6 7.7 8.1
7.4 7.8 8.1 8.0 8.0 Regulation No. 159, which states that
6.9 6.7
Monthly the recognition and payment of the
Product price difference can be carried out in
Sales Mio the first semester of the current year.
KL
Avg Jan- Feb- Mar- Apr- May- Jun- Sep- Oct- Nov- Dec-
Avg Jul-21 Aug- 21 21 21 21
Avg 2019 2020 21 21 21
2021 21 21 21
21

Sources: MSRKAP December 2021/2020, Net/Loss Performance December 2021, RKAP Report Q4 2021, and team 13
analysis
Operational Highlight
(3/4)
Ga FY FY
2020 2021
s +4.92% Highlight
303.08 317.98 s• Gas sales and transport
Gas improved
significantly due to the increase
Sales in
demand from commercia
TBTU retail customers. and l
+7.36%
459.51 493.33
Gas
Transport
BSCF

Power & FY 2020 FY 2021 Highlights

NRE • Steam and electricity production
+1.06% slightly increase as the reliability of
4,686 production assets improves.
26
4,637 •
Electricity 19 The addition of production capacity
4,660
Generatio from solar and biogas power plants
4,618
n GWh increases electricity production from
new and renewable energy
Solar & Other NRE generation.
Geothermal 14
 1

2 Financial
Indonesia’s & Operational
Economic Update
Presentation Updates
Outline 3 2022
Strategy
4 Sustainability
Initiatives

15
Our Strategic Keys for 2022
“Growth in Business & Committed to
Sustainability”
01 Stronger Upstream
Oil & Gas production is
targeted to increase by 17%
compared to 2021. Supported
by existing asset optimization
and new projects onstream
such as JBT and Rokan.
04 Cost & Cash
Optimization
Cost Optimization targeted in 2022
is up to USD 600 million contributed
by cost saving, revenue growth, and
cost avoidance.
Cash optimization is maintained by
several efforts including
communicating subsidy &
compensation payment to
government.
02 Excellence Refineries
Yield Valuable Product is
03
targeted at 79.9% or higher
than 77.6% in 2021 target. The
strategies are selecting more
economical crude and produce
more high value product with
higher spread margin
Low Carbon Projects
05 In 2022, PNRE plans to
06
produce 7,138 GWh of
electricity or 52% higher
compared to 2021 realization.
Supported by higher installed
capacity which is targeted up
to 2.9 GW or 84% higher than
2021 realization
Market Expansion
Expanding market through
additional outlets development
in 2022 (around 3,000
Pertashop), digital market
development (25 million of
MyPertamina users), and
enlarge revenue portion from
non-captive market in shipping
business up to 7.5%
Unlock Value Program
In 2022, several entities or the
group are accelerating their
progress of unlocking business
through IPO, strategic
partnership and M&A.
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 1 Indonesia’s Economic
Update
2 Financial & Operational
Presentation Updates
Outline 3 2022 Strategy

4 Sustainability
Initiatives

17
Pertamina’s Commitment to
• Pertamina received an ESG Risk Rating by Sustainalytics of 28.1 and was assessed to be at Medium risk. Pertamina sits the 8th position in the
Sustainability
integrated Oil & Gas sub-industry.
• Pertamina has set a target of 30% emission reduction in 2030, versus our 2010 baseline and has succeeded in reducing greenhouse gas (GHG)
emissions by
7.4 million metric tons of carbon dioxide equivalents.
ESG Pertamina Sustainability Environmentally Friendly
Performance Policy Company
“PERTAMINA’s ambition is to be a Socially Responsible
leading and reputable Global Company
Energy Company and to be Good Governance
recognized as: Company”
Pertamina Sustainability Strategy (10 Sustainability
Focuses)

Emission
Reduction
7.4
Emission Reduction (MTOE)

Pertamina’s Emission Reduction

Achievement
2010 – 2020, equivalent of
29.09%
18
¹ data downloaded as of 12 Oct 2021
Pertamina’s ESG Initiatives in 2022
In 2022 we have committed to execute 16 ESG Initiative to address our Sustainability
Strategy

ALL

BLUE CARBON
I N I T I AT I V E S

: Priority Initiatives related to Climate & Decarbonization

X : Pertamina 10 Sustainability Focuses addressed by the 19
initiatives
Low Carbon Projects
Pertamina initiated several low carbon energy projects as part of commitment to reduce emission
production
Solar Energy Pertamina Renewable Diesel (Pertamina RD)
Several operation areas use solar to fulfill energy needs Pertamina launched green energy
: product as Generator Set (Genset) for Electric
Groundbreaking : Rokan (25MW) Vehicle (EV) in Formula E Jakarta E-Prix 2022
Operation : Dumai (2MW), Cilacap (1.34MW), 143
Fuel
Stations (>1MW)
Sustainable Aviation Fuel
Pertamina developed BioAvtur J2.4, palm-oil based
Clean Energy for GRR Tuban aircraft fuel in Cilacap Refinery. It is proven to deliver
PNRE and PPRP has signed HoA to supply GRR Tuban performance equivalent to fossil-based aviation turbine
energy demand (power, steam and water) from LNG (avtur) fuel but with lower carbon emission.
power plant with 570 MW capacity

First Fire PLTGU Jawa-1 BioRefinery

PLTGU Jawa-1 (1,760 MW) has successfully conducted Cilacap Refinery has produced BioAvtur from RBDPO
its first fire in February 2022 (capacity 8,000 barrel/day) and Plaju Refinery is on
process to produce BioAvtur from CPO (estimated
capacity 20,000 barrel per day)

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Confidential and Proprietary
Thank
You

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