Financial Highlights

Consolidated Statements of Profit or Loss and Other Comprehensive Income

* (In million Rupiah)

Description 2018 2019 2020 2021* 2022 Growth (%) CAGR (%) 2018-2022
Operating Revenues 6,930,628 7,083,384 4,803,359 4,458,987 6,003,788 34.64 (3.53)
Cost of Revenues (6,048,206) (6,132,667) (4,493,836) (4,221,917) (5,486,630) 29.96 (2.41)
Gross Profit 882,422 950,717 309,523 237,070 517,158 118.15 (12.50)
Operating Expenses (149,876) (155,311) (125,126) (117,560) (117,294) (0.23) (5.94)
Operating Income 732,546 795,406 184,397 119,510 399,864 234.59 (14.05)
Interest Income (Expenses) (89,853) (137,685) (89,216) (74,645) (78,139) 4.68 (3.43)
Other Income (Expenses) (23,442) (31,450) 35,324 36,480 (72,219) (297.97) 32.48
Profit Before Tax 619,251 626,271 130,505 81,345 249,506 206.73 (20.33)
Income Tax Benefit (Expense) (132,611) (115,559) (7,358) 2,699 (78,446) (3006.48) (12.30)
Impact of Proforma Adjustment on Restructuring Transaction of Entities under Common Control - - - (2,610) - (100.00) 0.00
Net Income for the Year 486,640 510,712 123,147 81,434 171,060 110.06 (23.00)
Other Comprehensive Income (Expenses) 3,380 6,860 (2,157) 1,511 (81) (105.36) (100.30)
Comprehensive Income 490,020 517,572 120,990 82,945 170,979 106.14 (23.14)
Income Attributable to:
Owners of the Parent Entity 486,353 512,347 128,052 82,908 162,916 96.50 (23.92)
Non-Controlling Interest 287 (1,635) (4,905) (1,474) 8,144 (652.51) 130.80
Total Income for the Year 486,640 510,712 123,147 81,434 171,060 110.06 (23.00)
Comprehensive Income Attributable to:
Owners of the Parent Entity 489,638 519,156 125,738 84,366 162,820 92.84 (24.08)
Non-Controlling Interest 382 (1,584) (4,748) (1,421) 8,159 (683.24) 115.82
Total Comprehensive Income 490,020 517,572 120,990 82,945 170,979 106.14 (23.14)
Earnings per Share (in full amount of Rupiah) 55.80 58.79 14.69 9.51 18.69 (96.53) (23.92)

*Restated

Statement of Financial Position

* (In million Rupiah)

Description 2018 2019 2020* 2021* 2022 Growth (%) CAGR (%) 2018-2022
ASSETS
Current Assets 5,870,714 7,168,913 5,408,852 5,650,194 6,149,561 8.84 1.17
Fixed Assets 2,947,961 3,012,075 3,128,818 3,241,900 3,070,650 (5.28) 1.02
Investment Property 4,380 79,408 81,544 125,806 187,622 49.14 155.83
Other Non-Current Assets 0 21,419 11,653 24,692 25,500 3.27 -
Deferred Tax Assets 1,313 3,911 27,132 32,306 7,332 (77.30) 53.72
Investment in Associates 25,614 30,323 - - - - (100.00)
Investment in Joint ventures 31,796 21,847 12,065 7,613 6,864 (9.84) (31.84)
Total Assets 8,881,778 10,337,895 8,670,064 9,082,511 9,447,529 (4.02) 1.56
LIABILITIES
Current Liabilities 5,248,086 6,195,055 4,833,351 5,055,794 5,472,903 8.25 1.05
Non-Current Liabilities 496,880 634,394 411,824 541,906 336,805 (37.85) (9.26)
Total Liabilities 5,744,966 6,829,449 5,245,175 5,597,700 5,809,708 3.79 0.28
EQUITY
Total Equity 3,136,812 3,508,446 3,424,889 3,484,811 3,637,821 4.39 3.77
Equity Attributable to:
Owners of the Parent Entity 3,064,482 3,437,718 3,359,030 3,420,383 3,528,497 3.16 3.59
Non-Controlling Interest 72,330 70,728 65,859 64,428 109,323 69.68 10.88
Net Working Capital 622,628 973,857 541,588 594,400 676,658 13.84 2.10

*Restated

Statement of Cash Flows

* (In million Rupiah)

Description 2018 2019 2020 2021* 2022 Growth (%) CAGR (%) 2018-2022
ASSETS
Cash Flows Provided by Operating Activities 733,960,828 1,265,375,999 802,864,856 35,050,953 26,320,844 (24.91) (56.48)
Cash Flows Used for Investing Activities (439,848,570) (370,107,885) (281,518,460) (183,935,057) (145,874,632) (20.69) (24.11)
Cash Flows Provided by (Used for) Financing Activities (66.851.214) (158,003,805) (581,409,923) 313,061,554 (108,355,936) (134.61) 12.83
Beginning Balance of Cash and Cash Equivalent 637,755,397 865,016,441 1,602,280,750 1,602,043,858 1,766,221,308 10.25 29.00
Ending Balance of Cash and Cash Equivalent 865,016,441 1,602,280,750 1,542,217,223 1,766,221,308 1,538,311,584 (12.90) 15.48

*Restated

Financial Performance & Growth Ratio

Description 2018 2019 2020 2021* 2022 Unit
LIQUIDITY RATIO
Cash Ratio 16.48% 25.86% 32.77% 34.93% 28.11% %
Quick Ratio 88.88% 97.18% 94.64% 91.92% 92.76% %
Current Ratio 111.86% 115.72% 111.51% 111.76% 112.36% %
Net Working Capital 8.98% 13.75% 11.28% 13.33% 11.27% %
ACTIVITY RATIO
Collection Period 63.89 67.48 54.57 66.06 48.55 days
Inventory Turnover 63.52 59.17 60.32 82.09 65.23 days
Receivable Turnover 5.71 5.41 7.59 5.53 7.52 times
Current Asset Turnover 1.18 0.99 0.92 0.79 0.98 times
Fixed Assets Turnover 2.35 2.35 1.63 1.37 1.96 times
Total Asset Turnover 0.80 0.70 0.58 0.50 0.64 times
Working Capital Turnover 11.13 7.27 8.35 7.50 8.87 times
LEVERAGE RATIO
Debt to Asset Ratio 64.68% 66.06% 60.15% 61.63% 61.49% %
Times Interest Earned Ratio 789.19% 554,86% 246.28% 208.98% 419.31% %
SOLVABILITY RATIO
Debt to Equity Ratio 183.15% 194.66% 150.96% 160.63% 159.70% %
RENTABILITY RATIO
Gross Profit Margin 12.73% 13.42% 6.44% 5.32% 8.61% %
EBITDA Margin 13.49% 14.21% 8.73% 7.07% 8.61% %
Production Ratio 89.43% 88.77% 96.16% 97.32% 93.34% %
Net Profit Margin 7.02% 7.23% 2.67% 1.83% 2.85% %
Return on Investment (ROI) 10.71% 9.91% 5.31% 3.53% 5.50% %
Return on Equity (ROE) 20.01% 18.63% 4.35% 2.38% 4.85% %
Return on Assets (ROA) 5.48% 4.94% 1.45% 0.93% 1.81% %

*Restated