2

4

5

6

•

•

•

•

••

•

•

•

•

•

•

•

•

•

•

•

•

•

•

• •

7

8

9

SMGR(SMGR +

SBI)

INTP Conch Bosowa MerahPutih

Baturaja Jui Shin SiamCement

STAR SemenKupang

53.1%

26.1%

5.6%3.2% 3.0% 2.7% 2.3% 2.0% 1.6% 0.4%

44.8%

22.7%

7.7%6.6%

6.9%

3.5%1.6% 1.6% 1.6% 0.4%

10

32.8 34.2 39.2 44.1 45.7 46.9 47.5 46.8 49.4 50.8 51.0

20.7

6.2 6.68.8

10.8 12.2 13 14.5 14.816.9 18.8 18.7

6.4

-20.0%

-10.0%

0.0%

10.0%

20.0%

30.0%

40.0%

0

10

20

30

40

50

60

70

80

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Vol Bag Vol Bulk Growth Bag Growth Bulk Porsi Bulk

Sumber: Asosiasi Semen Indonesia

Rp juta

76.40%

23.60%BULK

BAG

Sumber: kemenkeu.go.id

5.1

41.13.8 1.4 5.9

Sumber: kemenkeu.go.id

Sumber: Asosiasi Semen Indonesia

11

-7.4%

-5.9%

-6.8%-6.3%

-39.3%

30.1%

-13.7%

-50.0%

-40.0%

-30.0%

-20.0%

-10.0%

0.0%

10.0%

20.0%

30.0%

40.0%

-

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

Jan Feb Mar Apr Mei Jun Jul Agu Sep Okt Nov Des

Vol 2019 Vol 2020 Growth 2019 Growth 2020

12

2020 2019 YoY (%) 2020 2019 YoY (%) 2020 2019 YoY (%)

Semester 1Q1 Q2

13

*

Semester I Semester I

2020 2019

Volume Penjualan SIG (ton) 18,117,760 17,776,902 1.9%

Pendapatan 16,026 16,351 -2.0%

Beban Pokok Pendapatan 11,213 11,686 -4.0%

Laba Kotor 4,812 4,665 3.2%

Beban Operasional 2,696 2,614 3.1%

Laba Usaha 2,117 2,050 3.2%

EBITDA 3,471 3,167 9.6%

Pendapatan (Beban) Keuangan (1,075) (1,374) -21.8%

Laba Sebelum Pajak Penghasilan 1,028 676 52.0%

Laba Periode Berjalan yang Diatribusikan ke Pemilik Entitas Induk 612 485 26.3%

Margin

Margin Laba Kotor 30.0% 28.5% 1.5%

Margin Laba Usaha 13.2% 12.5% 0.7%

Margin EBITDA 21.7% 19.4% 2.3%

Margin Labar Bersih 3.8% 3.0% 0.9%

Rasio

ROE 7.7% 8.6% -0.9%

Liabilitas/Ekuitas - Net 74.8% 103.8% -29.0%

Liabilitas/EBITDA (x) 3.1 4.8 -1.7

EBITDA/Beban Bunga (x) 3.1 3.6 -0.5

Rp Miliar YoY (%)

14

-0.1% -3.0%

6.4%10.3%

31.5%

-2.0%

-10.0%

0.0 %

10. 0%

20. 0%

30. 0%

40. 0%

50. 0%

-

5,00 0

10,0 00

15,0 00

20,0 00

25,0 00

30,0 00

35,0 00

40,0 00

45,0 00

2015 2016 2017 2018 2019 1H '20

Revenue Revenue Growth

39.5% 37.7%

28.6% 30.4% 31.5%30.0%

0.0 %

10. 0%

20. 0%

30. 0%

40. 0%

50. 0%

60. 0%

70. 0%

-

2,00 0

4,00 0

6,00 0

8,00 0

10,0 00

12,0 00

14,0 00

2015 2016 2017 2018 2019 1H '20

Gross Profit Gross Profit Margin

27.7% 26.6%

17.6%21.4% 21.5% 21.7%

0.0 %

10. 0%

20. 0%

30. 0%

40. 0%

50. 0%

60. 0%

-

1,00 0

2,00 0

3,00 0

4,00 0

5,00 0

6,00 0

7,00 0

8,00 0

9,00 0

10,0 00

16.8% 17.3%

5.8%10.0%

5.9% 3.8%

0.0 %

5.0 %

10. 0%

15. 0%

20. 0%

25. 0%

30. 0%

35. 0%

40. 0%

45. 0%

50. 0%

-

500

1,00 0

1,50 0

2,00 0

2,50 0

3,00 0

3,50 0

4,00 0

4,50 0

5,00 0

Net Profit Net Profit Margin

15

2,847 3,638

5,246

3,950 3,345

2016 2017 2018 2019 1H '20

Cash Balance (IDRbn)

6,260 10,019 9,602

30,042 27,819

2016 2017 2018 2019 1H '20

Total Interest Bearing Debt (IDRbn)

19.1

6.5 6.9

2.7 3.1

2016 2017 2018 2019 1H '20

EBITDA/Interest

0.9

2.01.5

3.53.1

2016 2017 2018 2019 1H '20

Debt/EBITDA

11.8%22.3%

14.0%

80.8%74.8%

2016 2017 2018 2019 1H '20

Net Debt/Equity

20.5%33.3% 29.4%

88.6% 85.0%

2016 2017 2018 2019 1H '20

Gross Debt/Equity

16

IMPORTANT NOTICE

THIS PRESENTATION IS NOT AND DOES NOT CONSTITUTE OR FORM PART OF, AND IS NOT MADE IN CONNECTION WITH, ANY OFFERFOR SALE OR SUBSCRIPTION OF OR SOLICITATION, RECOMMENDATION OR INVITATION OF ANY OFFER TO BUY OR SUBSCRIBE FORANY SECURITIES NOR SHALL IT OR ANY PART OF IT FORM THE BASIS OF OR BE RELIED ON IN CONNECTION WITH ANY CONTRACT,COMMITMENT OR INVESTMENT DECISION WHATSOEVER.

THE SLIDES USED IN THIS PRESENTATION ARE STRICTLY CONFIDENTIAL AND HAVE BEEN PREPARED AS A SUPPORT FOR ORALDISCUSSIONS ONLY. THE INFORMATION CONTAINED IN THIS PRESENTATION IS BEING PRESENTED TO YOU SOLELY FOR YOURINFORMATION AND MAY NOT BE REPRODUCED OR REDISTRIBUTED TO ANY OTHER PERSON, IN WHOLE OR IN PART.

This presentation includes forward-looking statements, which are based on current expectations and forecast about future events. Such statements involve known / unknown risks uncertainties and other factors, which could cause actual results to differ materially from historical results or those anticipated. Such factors include, among others:

● economic, social and political conditions in Indonesia, and the impact such conditions have on construction and infrastructure spending in

Indonesia;

● the effects of competition;

● the effects of changes in laws, regulations, taxation or accounting standards or practices;

● acquisitions, divestitures and various business opportunities that we may pursue;

● changes or volatility in inflation, interest rates and foreign exchange rates;

● accidents, natural disasters or outbreaks of infectious diseases, such as avian influenza, in our markets;

● labor unrest or other similar situations; and

● the outcome of pending or threatened litigation.

We can give no assurance that our expectations will be attained.

DISCLAIMERThe information contained in this report has been taken from sources which we deem reliable. However, none of PT Semen Indonesia (Persero) Tbk and/or its affiliated companies and/or their respective employees and/or agents make any representation or warranty (express or implied) or accepts any responsibility or liability as to, or in relation to, the accuracy or completeness of the information and opinions contained in this report or as to any information contained in this report or any other such information or opinions remaining unchanged after the issue thereof.

We expressly disclaim any responsibility or liability (express or implied) of PT Semen Indonesia (Persero) Tbk, its affiliated companies and their respective employees and agents whatsoever and howsoever arising (including, without limitation for any claim, proceedings, action, suits, losses, expenses, damages or costs) which may be brought against 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 Semen Indonesia (Persero) Tbk, its affiliated companies or their respective employees or agents accepts liability for any errors, omission or mis-statements, negligent or otherwise, in the report and any liability in respect of the report or any inaccuracy therein or omission therefrom which might otherwise arise is hereby expresses disclaimed.

17