Investor Presentaiton
6
Sustainable and Attractive Dividend Payout Enabled by
Robust Balance Sheet and Strong Cash Flow Generation
We intend to focus on generating healthy operating cash flows and maintaining balance sheet strength while also returning
capital to shareholders
Dividend Policy
Bayan distributed dividends of US$150.0MM in 2018, US$300.0MM in 2019, US$66.6MM in 2020 and US$300.0MM in 2021
Current dividend policy is to distribute up to 60% of annual distributable profit, taking into consideration:
Prevailing market conditions and business operational outlook
Working capital requirements, future development capital requirements
EBITDA and Net Income
US$MM
800
600
485.1
338.0
400
200
0
Operating and Free Cash Flow
US$MM
736.4
750
571.9
431.7
524.3
494.5
397.1
374.4
356.7 344.5
350
254.8
234.2
177.3
-50
2017
2018
2017
■EBITDA ■Net Income
Cash Balance (1)
2018
2019
2020
1Q21
■Operating cash flow Free cash flow
Leverage Ratios (2)(3)(4)
361.0
249.2
273.3
216.1
49.5
(10.0)
2019
2020
1Q21
US$MM
X
8
700
604.8
6
600
500
383.8
4
400
300
229.2
2
0.2x
0.2x
1.0x
1.1x
0.7x
174.5
200
0
58.7
0.5x
100
0
(2)
0.1x
2017
(0.1x)
2018
2019
0.1x
2020
(0.4x)
1Q21
2017
2018
2019
2020
1Q21
Total Debt/ EBITDA
Net Debt (Cash)/EBITDA
Notes
(1) Excludes restricted cash and cash equivalents, which are time deposits with certain banks to secure our mine reclamation obligations to the Government and other relevant Government authorities.
(2) Total debt includes short-term bank loans, long-term bank loans and finance lease payables (excluding un-amortised debt issuance costs).
(3) Net debt (cash) calculated as total debt less cash and cash equivalents (excluding restricted cash and cash equivalents).
(4) 1Q21 Ratios based on Last Twelve Months (LTM) EBITDA information = US$545.1 million
27
PT BAYAN RESOURCES Tbk.View entire presentation