ADHI Adhi Karya (Persero) Tbk.

[S]
COMPANY REPORT : FEBRUARY 2013
Main Board
Industry Sector : Property, Real Estate And Building Construction (6)
Industry Sub Sector : Building Construction (62)

As of 28 February 2013
:
1,716.667
Individual Index
1,801,320,000
:
Listed Shares
4,638,399,000,000
Market Capitalization :

143 | 3.60T | 0.08% | 93.46%

85 | 2.57T | 0.23% | 87.36%

COMPANY HISTORY
Established Date : 11-Mar-1960
Listing Date
: 18-Mar-2004
Under Writer IPO :
PT Ciptadana Sekuritas
Securities Administration Bureau :
PT Datindo Entrycom
Wisma Sudirman - Puri Datindo
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220
Phone : 570-9009
Fax
: 570-9026
BOARD OF COMMISSIONERS
1. Imam Santoso Ernawi
2. Achmad Gali Ghazali Akman
3. Amir Muin *)
4. Bobby AA. Nazief
5. Murhadi *)
6. Suryo Alimoeso
*) Independent Commissioners
BOARD OF DIRECTORS
1. Kiswodarmawan
2. Bambang Pramusinto
3. Sumadiono
4. Supardi
5. Teuku Bagus M.N.
AUDIT COMMITTEE
1. Amir Muin
2. Salim Siagian
3. Syaiful
CORPORATE SECRETARY
Amrozi Hamidi
HEAD OFFICE
Jln. Raya Pasar Minggu Km.18
Jakarta - 12510
Phone : (021) 797-5312
Fax
: (021) 797-5311
Homepage
Email

: www.adhi.co.id
: amrozi@adhi.co.id

SHAREHOLDERS (February 2013)

1. Negara Republik Indonesia
2. Public (<5%)

918,680,000 :
882,640,000 :

DIVIDEND ANNOUNCEMENT
Bonus
Cash
Year Shares Dividend Cum Date
2003
12.30
07-Jul-04
2005
19.56 17-Jun-05
2005
12.98
20-Jul-06
2006
10.61
17-Jul-07
2008
11.51
02-Jul-09
2009
28.26 30-Jun-10
2010
32.35
04-Jul-11
2011
30.33 05-Jun-12

Ex Date
08-Jul-04
20-Jun-05
21-Jul-06
18-Jul-07
03-Jul-09
01-Jul-10
05-Jul-11
06-Jun-12

Recording
Date
12-Jul-04
22-Jun-05
25-Jul-06
20-Jul-07
07-Jul-09
05-Jul-10
07-Jul-11
08-Jun-12

51.00%
49.00%

Payment
Date
23-Jul-04
06-Jul-05
08-Aug-06
03-Aug-07
22-Jul-09
19-Jul-10
20-Jul-11
22-Jun-12

F/I
F
F
F
F
F
F
F

ISSUED HISTORY
No.
1.
2.
3.
4.

Type of Listing
First Issue
Company Listing
Employee Management Buy Out (EMBO)

Employee Stock Allocation (ESA)

Shares
397,188,000
918,680,000
441,320,000
44,132,000

Listing
Date
18-Mar-04
18-Mar-04
18-Mar-04
18-Mar-04

Trading
Date
18-Mar-04
18-Mar-04
03-Jul-06
26-Jun-04

ADHI Adhi Karya (Persero) Tbk. [S]

Closing
Price*

Closing Price
Volume
(Mill. Sh)

2,600

400

2,275

350

1,950

300

1,625

250

1,300

200

975

150

650

100

325

50

Jan-09

Jan-10

Jan-11

Jan-12

Jan-13

Closing Price*, Jakarta Composite Index (IHSG) and

Property, Real Estate and Bulding Construction Index
January 2009 - February 2013
770%

550%
440%
330%

298.5%
233.7%

220%
110%
-110%

Jan 10

Jan 11

Jan 12

Jan 13

SHARES TRADED

2009

2010

2011

2012 Feb-13

Volume (Million Sh.)

Value (Billion Rp)
Frequency (Thou. X)
Days

2,131
861
83
241

2,794
1,901
112
245

1,468
989
87
247

2,209
2,571
105
246

705
1,464
43
41

510
240
410
410

1,090
370
910
910

930
435
580
580

2,100
570
1,760
1,760

2,650
1,730
2,575
2,575

4.46
8.65
PER (X)
18.12
9.97
PER Industry (X)
1.01
1.90
PBV (X)
* Adjusted price after corporate action

5.72
11.09
1.05

26.77
17.34
3.00

39.17
19.09
4.40

Price (Rupiah)
High
Low
Close
Close*

Volume
Value
Freq.
(X) (Thou. Sh.) (Million Rp)

Jan-09
Feb-09
Mar-09
Apr-09
May-09
Jun-09
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09

High
325
290
295
380
465
490
480
510
465
495
455
435

Low
240
240
255
275
315
390
405
430
435
365
390
390

Close
260
275
275
340
410
425
455
450
460
405
390
410

4,366
5,504
3,344
9,653
11,239
5,305
5,825
9,209
1,734
21,791
2,375
3,060

97,822
139,980
99,836
301,928
336,238
148,228
143,367
256,315
33,449
468,906
43,325
61,940

28,050
37,787
27,500
97,982
134,491
67,638
64,677
122,151
15,035
221,632
18,371
25,687

19
20
20
20
20
22
21
20
18
22
20
19

Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10

425
405
450
640
590
640
670
690
1,020
1,090
1,000
1,010

390
370
380
435
410
455
560
570
640
950
870
770

405
390
440
590
490
620
650
660
960
1,000
890
910

4,651
1,403
5,352
15,799
5,174
7,698
9,178
5,671
12,718
7,814
3,533
32,541

91,954
34,699
128,895
643,765
149,934
235,268
327,722
202,433
326,527
174,830
49,095
429,282

37,614
13,313
54,921
363,176
73,525
134,928
199,206
131,258
273,447
177,657
45,811
395,801

20
19
22
21
19
22
22
21
17
21
21
20

Jan-11
Feb-11
Mar-11
Apr-11
May-11
Jun-11
Jul-11
Aug-11
Sep-11
Oct-11
Nov-11
Dec-11

930
850
850
900
830
800
820
720
610
580
520
640

760
750
760
820
740
740
700
510
450
455
445
435

790
830
840
820
780
800
710
580
510
530
460
580

4,882
3,295
6,687
14,093
5,278
3,127
6,361
6,573
4,259
6,873
13,367
11,915

113,072
75,255
98,898
172,522
95,026
53,179
100,864
119,233
60,629
84,676
134,909
359,328

95,505
60,185
80,322
148,957
75,050
40,725
75,362
70,518
33,605
45,079
65,650
198,452

21
18
23
20
21
20
21
19
20
21
22
21

Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12

720
750
800
1,040
1,140
1,010
1,050
960
1,090
1,440
1,910
2,100

570
680
700
750
940
860
860
830
870
1,000
1,360
1,630

690
710
800
990
970
990
910
900
1,040
1,410
1,890
1,760

8,235
4,743
4,622
11,373
7,410
3,027
4,409
4,771
5,588
12,885
13,164
24,655

193,549
129,177
107,316
306,721
202,611
59,294
84,526
85,274
119,462
284,217
272,742
363,628

126,624
92,626
79,249
280,632
210,502
56,177
79,675
76,887
116,886
345,507
431,698
674,866

21
21
21
20
21
21
22
19
20
22
20
18

Jan-13
Feb-13

2,150
2,650

1,730
1,990

2,000
2,575

25,820
17,280

386,992
317,854

740,424
723,135

21
20

758.3%

660%

Jan 09

Month

Day

TRADING ACTIVITIES

Closing Price* and Trading Volume

Adhi Karya (Persero) Tbk. [S]
January 2009 - February 2013

ADHI Adhi Karya (Persero) Tbk. [S]

Financial Data and Ratios
Public Accountant : RSM Aryanto, Amir Jusuf, Mawar & Saptoto (Member of RSM International)
BALANCE SHEET
(Million Rp except Par Value)

Dec-08

Dec-09

Dec-10

Dec-11

Dec-12

Cash & Cash Equivalents

364,904

306,902

242,118

552,203

948,846

Receivable

1,476,694

1,789,279

1,657,387

1,657,080

2,332,098

Inventories

580,234

510,174

61,766

68,562

116,552

Investment

143,708

180,132

46,234

197,644

62,804

Fixed Assets

166,810

80,870

186,401

220,861

187,437

Other Assets

1,987

1,951

8,387

18,154

34,248

Total Assets

5,125,369

5,629,454

4,927,696

6,112,954

7,872,074

9.84%

-12.47%

24.05%

28.78%

Book End : December

TOTAL ASSETS AND LIABILITIES (Bill. Rp)

Assets

Liabilities

8,750
7,000

Growth (%)

5,250
3,500
1,750
-

Trade Payable

2,355,605

2,849,719

2,214,234

3,132,496

4,276,690

Total Liabilities

4,525,469

4,888,581

4,059,941

5,122,586

6,691,155

8.02%

-16.95%

26.17%

30.62%

15,620

9,673

6,641

Authorized Capital

544,000

544,000

544,000

544,000

544,000

Paid up Capital

180,132

180,132

180,132

180,132

180,132

1,801

1,801

1,801

1,801

1,801

Growth (%)

2008

2009

2010

2011

2012

TOTAL EQUITY (Billion Rupiah)

Minority Interest

Paid up Capital (Shares)

100

100

100

100

100

Retained Earnings

384,320

528,868

668,355

790,784

943,642

Total Equity

584,279

Par Value

1,181
1,181

990
731
699

Growth (%)

731,200

861,113

990,368

1,180,919

25.15%

17.77%

15.01%

19.24%

861

940

584

458

217

INCOME STATEMENTS
Total Revenues

Dec-08

Dec-09

Dec-10

Dec-11

Dec-12

6,639,942

7,714,614

5,674,980

6,695,112

7,627,703

16.18%

-26.44%

17.98%

13.93%

7,059,135

4,964,348

5,960,704

6,671,815

Growth (%)
Expenses

6,095,669

Gross Profit

572,521

751,880

769,110

799,042

1,043,220

Operating Expenses

204,613

215,061

218,276

385,498

531,378

Operating Profit

367,908

-24

2008

2009

2010

2011

2012

TOTAL REVENUES (Billion Rupiah)

7,715

7,628

7,715

Growth (%)

536,819

550,834

413,544

45.91%

2.61%

-24.92%

-100.00%

-205,046

-230,014

-87,164

-88,526

6,695

6,640
5,675

6,141

4,567

Other Income (Expenses)

-245,369
122,539

331,773

320,820

326,380

423,315

Tax

39,545

168,850

130,627

143,687

209,998

Minority Interest

-1,512

2,606

-710

Net Income

81,482

Income before Tax

2,993

1,419

Growth (%)

165,530

189,484

182,595

213,651

103.15%

14.47%

-3.64%

17.01%

Dec-08

Dec-09

Dec-10

Dec-11

Dec-12

Dividend (Rp)

11.51

28.26

32.35

30.33

EPS (Rp)

45.23

91.89

105.19

101.37

118.61

BV (Rp)

324.36

405.92

478.05

549.80

655.59

DAR (X)

0.88

0.87

0.82

0.84

0.85

DER(X)

7.75

6.69

4.71

5.17

5.67

ROA (%)

2.39

5.89

6.51

5.34

5.38

ROE (%)

20.97

45.37

37.26

32.96

35.85

GPM (%)

8.62

9.75

13.55

11.93

13.68

OPM (%)

5.54

6.96

9.71

6.18

NPM (%)

1.23

2.15

3.34

2.73

2.80

25.44

30.75

30.75

29.92

4.26

6.89

3.55

5.23

RATIOS

-154

2008

2009

2010

2011

2012

NET INCOME (Billion Rupiah)

214
214

189

183

2010

2011

166
170

126

Payout Ratio (%)

Yield (%)

81
83

39

-4

2008

2009

2012