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www.bayan.com.sg
Third Quarter 2013
Update Presentation
1
Executive Summary
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Overall financial performance in YTD September 2013 decreased compared
to YTD September 2012 as net income includes a US$32.8 million foreign
exchange loss of prepaid tax and an impairment of US$29.6 million on the
value of the inventory due to the reduction of coal price
Combined with lower sales volume and lower ASP (as a result of continued
weak market conditions) more than offsetting the reduction in costs
Revenue, Gross Profit, and Net Income include coal and non-coal sales ; 2) US$ is a convenience translation using the average yearly
exchange rate and quarterly rates
*
Sales Volume (milion MT) 16.0 16.0 to 17.0 11.9 10.7 -10%
Coal Production (million MT)
16.3 14.0 to 15.0 12.3 10.3 -16%
Average Selling Price (US$/MT) 88.9 83 to 86 91.2 79.6 -13%
Average Cash Costs (US$/MT) 78.1 74 to 77 79.1 73.6 -7%
Var 2013 B 2012
YTD Sept
2012
YTD Sept
2013
Average Selling Price includes coal and non-coal sales ; 2) US$ is a convenience translation using the average yearly exchange rate and
average quarterly exchange rate; 3) Average Cash Costs include Royalty, Barging, SGA; 4) B stands for Budget Figures
*
Revenue 1,509.3 1,422.9 1,083.4 850.0 -22%
Gross Profit 439.8 258.7 201.2 106.5 -47%
Gross Profit Margin 29% 18% 19% 13%
Net Income 213.3 54.9 57.6 (31.1) -154%
(in million USD) 2012
YTD Sept
2012
YTD Sept
2013
Var 2011
2
3Q 2013
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Overburden Removal
Coal Production
Weighted Average Strip Ratio
Average Cash Costs
Coal Sales
Average Selling Price
Committed & Contractual Sales
Debt and Cash Position
Capex
3
Overburden Removal (OB)
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(million BCM)
Overburden Removal
3Q13 Overburden removal was 40.6 million BCM which was below 2Q13 and 3Q13 Budget
65.8
41.0
40.6
3Q12 3Q13B 2Q13 3Q13
41 to 45
3Q13 OB was 40.6 million BCM
which was lower than 2Q13 and
3Q13 Budget due to the decrease
in OB activities as a result of the
overall decrease in strip ratio
which took effect in 4Q12
OB volumes went down QoQ in
WBM due to higher than expected
rainfall combined with significant
inflow of water from Arutmin; in pit
dumping was suspended due to
flooding
This was partially offset by the
increase in OB from TSA/FKP and
FSP due to contractors exceeding
their Budgeted OB volume
3Q12 3Q13
Gunungbayan Pratamacoal - Block II 26.2 16.1
Gunungbayan Pratamacoal - Block I 1.5 -
Perkasa Inakakerta 7.3 4.4
Teguh Sinar Abadi 1.2 3.3
Firman Ketaun Perkasa 11.4 4.0
Fajar Sakti Prima 1.3 1.2
Bara Tabang
Wahana Baratama Mining 15.4 11.6
Pakar South
Mamahak 1.5 -
Total 65.8 40.6
Overburden Removal
(in million BCM)
Note : B stands for Budget Figure
4
Coal Production
(million MT)
Coal Production Volume
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3Q13 coal production was 3.6 million MT which was within the range of the 3Q13 Budget
4.4
3.3
3.6
3Q12 3Q13B 2Q13 3Q13
3.5 to 3.7
3Q13 coal production was 3.6
million MT which was higher
than 2Q13 but it was within the
range of the 3Q13 Budget
Coal production went up in
comparison to 2Q13 principally
at FSP as a result of the
contractors exceeding their Coal
Production Budget but this was
slightly offset by the decrease in
production at WBM as a result of
poor weather conditions
3Q12 3Q13
Gunungbayan Pratamacoal - Block II 1.0 0.9
Gunungbayan Pratamacoal - Block I -
Perkasa Inakakerta 0.7 0.6
Teguh Sinar Abadi 0.1 0.3
Firman Ketaun Perkasa 0.9 0.4
Fajar Sakti Prima 0.7 0.8
Bara Tabang
Wahana Baratama Mining 0.9 0.7
Pakar South
Mamahak 0.1 0.0
Total 4.4 3.6
Production
(in million MT)
Note : B stands for Budget Figure
5
Actual Weighted Average Strip Ratio (SR)
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Weighted Average Strip Ratio
3Q13 actual weighted average strip ratio was 11.2 : 1 which represents a significant
reduction on 2012 levels and was reduced to below the range of the 2Q13 Budget
14.9
12.4
11.2
3Q12 3Q13B 2Q13 3Q13
11.4 to 12.0
3Q13 SR was 11.2 : 1 which was
lower than 2Q13 and 3Q13B due
to the continued reductions in SR
across all sites
SR, however, went up QoQ at
WBM due to poor weather
conditions and excess water
inflow from Arutmin
3Q12 3Q13
Gunungbayan Pratamacoal - Block II 27.0 18.7
Gunungbayan Pratamacoal - Block I 21.4
Perkasa Inakakerta 10.4 7.9
Teguh Sinar Abadi 11.1 10.3
Firman Ketaun Perkasa 12.2 9.0
Fajar Sakti Prima 2.0 1.6
Bara Tabang
Wahana Baratama Mining 17.9 16.7
Pakar South
Mamahak 14.8 0.0
Total 14.9 11.2
Weighted Average SR (:1)
Weighted Ave SR
Note : B stands for Budget Figure
6
Average Cash Costs per MT
(*)
Average Cash Costs
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(1) Average Cash Costs include Royalty, Barging, SGA
(2) US$ is a convenience translation using the average quarterly exchange rate
for the quarter numbers
(3) B stands for Budget Figure
(
U
S
$

/

M
T
)
3Q13 average cash costs was US$75.9 / MT which was within the range of the 2013 Budget
*
Pertamina Diesel Oil Price
(*)
3Q13 Average Cash Costs was
within the range of 2013 Budget
but higher than 2Q13 due to one
off impairment of inventory at
GBP, WBM, TSA, and FKP
(
U
S
$

/

l
i
t
e
r
)
* Published by Pertamina, including PBBKB and VAT
1.1
1.0
1.1
3Q12 2013B 2Q13 3Q13
0.9 to 1.1
71.3
71.7
75.9
3Q12 2013B 2Q13 3Q13
74 to 77
7
Coal Sales (by volume)
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(million MT)
Coal Sales Volume
4.0
3.8
3.0
2Q12 3Q13B 2Q13 3Q13
4.2 to 4.4
Geographic Distribution (YTD)
3Q13 coal sales volume was 3.0
million MT which was lower than
2Q13 and 3Q13 Budget due to
Low water level at Tabang which
affected barging activities and
consequently, impacted blending
Higher proportion of sales was
committed in 4Q13
Japan and India are Bayans biggest
customer in terms of YTD sales
volume
Top customers YTD (by sales
volume) are: Vitol Asia PTE LTD, J.
Aron & Co, TNB Fuel Service
ENEL, and Adani
3Q13 coal sales volume was 3.0 million MT which was below the range of the 2Q13 Budget
Note : B stands for Budget Figure
17%
8%
17%
13%
14%
9%
11%
11%
China
India
Japan
Taiwan
Philippines
Malaysia
Others
Italy
8
Average Selling Price (ASP)
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(
U
S
$

/

M
T
)
Average Selling Price
(*)
3Q13 ASP was US$ 74.2 / MT which was below the range of the 2013 Budget
(1) ASP includes coal and non-coal sales
(2) US$ is a convenience translation using the average quarterly
exchange rate for the quarter numbers
(3) B stands for Budget Figure
*
79.0
79.7
74.2
3Q12 2013B 2Q13 3Q13
83 to 86
3Q13 ASP was US$ 74.2 / MT
which was lower than 2Q13 and
2013 Budget due to the
continued weak market
conditions
3Q13 ASP reflect current index
pricing since a major proportion
of sales were index linked
3Q13 average CV was 5,843 GAR
kcal compared to 2Q13 at 5,834
GAR kcal
9
Committed and Contracted Sales
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2013
Fixed Price Floating Price
14.3 million MT
81.2%
18.8%
Note : September 2013
As at 30 September 2013
committed and contracted sales
were 14.3 million MT with an
average CV of 5,877 GAR kcal
2013 Fixed Price element of 11.6
million MT at US$ 78.3 / MT with
an average CV of 5,811 GAR kcal
10
Total Net Debt and Cash
In 2012, the Company refinanced its existing debt with a US$750 million
facility which comprises :
US$ 400 milion Term Loan Facility, amortizing over 5 years
US$ 200 million Capex Facility, amortizing over 5 years
US$ 150 million Working Capital Facility, bullet after 3 years
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431.2
415.0
463.6
495.1
446.4
469.4
479.7
128.2
115.9
99.5
152.8
201.2
198.7
212.2
1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13
Total Debt Cash Note : Total Debt less cash and Debt Service Reserve Account (DSRA)
(
i
n

m
i
l
l
i
o
n

U
S
$
)
11
Capital Expenditure
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US$ is a convenience translation using the average annual
exchange rate; B stands for Budget Figure
*
(US$ million)
CAPEX
(*)
9.4
Budget YTD Actual
45 to 55
YTD Capex was US$ 9.4 million
3Q13 Capex was principally for
the following :
Bara Tabang Haul Road
Cilong Haul Road
Majority of capex will be spent
towards the end of the year as
construction of Tabang haul road
is anticipated to gain momentum
12
www.bayan.com.sg
PT Perkasa Inakakerta PIK
PT Teguh Sinarabadi TSA
PT Firman Ketaun Perkasa FKP
PT Wahana Baratama Mining WBM
PT Fajar Sakti Prima FSP
PT Bara Tabang BT
PT Brian Anjat Sentosa BAS
PT Tanur Jaya TJ
PT Silau Kencana SK
PT Orkida Makmur OM
PT Tiwa Abadi TA
PT Sumber Api SA
PT Dermaga Energi DE
PT Bara Sejati BS
PT Apira Utama AU
PT Cahaya Alam CA
PT Mamahak Coal Mining MCM
PT Bara Karsa Lestari BKL
PT Mahakam Energi Lestari MEL
PT Mahakam Bara Energi MBE
PT Graha Panca Karsa GPK
Tabang
Pakar
Mamahak
Appendix
13
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Appendix
Kangaroo Resources Limited KRL
PT Dermaga Perkasapratama DPP
PT Indonesia Pratama IP
PT Muji Lines Muji
PT Bayan Energy BE
PT Metalindo Prosestama MP
PT Sumber Aset Utama SAU
PT Bara Karsa Lestari BKL
PT Karsa Optima Jaya KOJ
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Disclaimer
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This presentation contains forward-looking statements based on assumptions and forecasts made by PT. Bayan
Resources Tbk management. Statements that are not historical facts, including statements about our beliefs
and expectations, are forward-looking statements. These statements are based on current plans, estimates and
projections, and speak only as of the date they are made. We undertake no obligation to update any of them in
light of new information or future events.
These forward-looking statements involve inherent risks and are subject to a number of uncertainties, including
trends in demand and prices for coal generally and for our products in particular, the success of our mining
activities, both alone and with our partners, the changes in coal industry regulation, the availability of funds for
planned expansion efforts, as well as other factors. We caution you that these and a number of other known
and unknown risks, uncertainties and other factors could cause actual future results or outcomes to differ
materially from those expressed in any forward-looking statement.
15
Thank You
For more information, please contact :
investor.relations@bayan.com.sg
www.bayan.com.sg