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PT.

 Aneka Tambang (Persero) Tbk

Business Mining (Nickel, Bauxite, Iron Sand,
Gold & Silver)

Company Status BUMN

Underwriter PT Danareksa Sekuritas, PT Pentasena Sekuritas, PT Bahana Sekuritas

Shareholder

2000 2001 2002 2003 2004

Indonesia Government  65.00% Indonesia Government  65.00% Indonesia Government  65.00% Indonesia Government  65.00% Indonesia Government  65.00%
Public  35.00% Public  35.00% Public  35.00% Public  35.00% Public  35.00%

2005 2006 2007 2008 2009

Indonesia Government  65.00% Indonesia Government  65.00% Indonesia Government  65.00% Indonesia Government  65.00% Indonesia Government          65.00%
Public  35.00% Public  35.00% Public  35.00% Public  35.00% Public                         35.00%
Management & Number of Employees

Board of Commissioners Board of Directors Number of Employees

2000 President Commissioner Rozik B. Soetjipto President Director Ir. Dedi Aditya Sumanagara 4,585
Commissioners S. Suryantoro, Directors Drs. Ki Agus Umar Tochfa,
Djoko Darmono, Ir. Subagyo,
A. Gunawan Suratno, Drs. Ismail Tangka,
Supriatna Suhala Ir. Harsojo Dihardjo

2001 President Commissioner Rozik B. Soetjipto President Director Ir. Dedi Aditya Sumanagara 3,811
Commissioners S. Suryantoro, Directors Drs. Ki Agus Umar Tochfa,
Djoko Darmono, Ir. Subagyo,
A. Gunawan Suratno, Drs. Ismail Tangka,
Supriatna Suhala Ir. Harsojo Dihardjo

2002 President Commissioner Firman Malem Ukur Tamboen, M.Eng President Director Ir. Dedi Aditya Sumanagara 3,811
Commissioners S. Suryantoro, Directors Drs. Ki Agus Umar Tochfa,
Yap Tjay Soen, MBA., Ir. Subagyo,
Dr. Ir. Simon F. Sembiring, Drs. Ismail Tangka,
Ir. Supriatna Suhala Ir. Harsojo Dihardjo

2003 President Commissioner Firman Malem Ukur Tamboen, M.Eng President Director Ir. Dedi Aditya Sumanagara 3,487
Commissioners S. Suryantoro, Msc Directors Ir. Alwin Syah Loebis, MM, Ir. Darma Ambiar, MM
Yap Tjay Soen, MBA Kurniadi Atmosasmito, SE, MM, Ir. Sjahrir Ika, MM
Ir. Supriatna Suhala, Msc
Dr. Hikman Manaf, ME

2004 President Commissioner Firman Malem Ukur Tamboen, M.Eng President Director Ir. Dedi Aditya Sumanagara 3,382
Commissioners S. Suryantoro, Msc Directors Ir. Alwin Syah Loebis, MM, Ir. Darma Ambiar, MM
Yap Tjay Soen, MBA Kurniadi Atmosasmito, SE, MM, Ir. Sjahrir Ika, MM
Ir. Supriatna Suhala, Msc
Dr. Hikman Manaf, ME

2005 President Commissioner Ir. Wisnu Askari Marantika President Director Ir. Dedi Aditya Sumanagara 3,434
Commissioners Suryo Suryantoro, Msc, Yap Tjay Soen, MBA, Directors Ir. Alwin Syah Loebis, MM, Ir. Darma Ambiar, MM
Ir. Supriatna Suhala, Msc, Kurniadi Atmosasmito, SE, MM, Ir. Sjahrir Ika, MM
Prof. Dr. Ir. Irwandy Arif, Msc

2006 President Commissioner Ir. Wisnu Askari Marantika President Director Ir. Dedi Aditya Sumanagara 3,209
Commissioners Suryo Suryantoro, Msc, Yap Tjay Soen, MBA, Directors Ir. Alwin Syah Loebis, MM, Ir. Darma Ambiar, MM
Ir. Supriatna Suhala, Msc, Kurniadi Atmosasmito, SE, MM, Ir. Sjahrir Ika, MM
Prof. Dr. Ir. Irwandy Arif, Msc

2007 President Commissioner Ir. Wisnu Askari Marantika President Director Ir. Dedi Aditya Sumanagara 2,749
Commissioners Suryo Suryantoro, Msc, Yap Tjay Soen, MBA, Directors Ir. Alwin Syah Loebis, MM, Ir. Darma Ambiar, MM
Ir. Supriatna Suhala, Msc, Kurniadi Atmosasmito, SE, MM, Ir. Sjahrir Ika, MM
Prof. Dr. Ir. Irwandy Arif, Msc

2008 President Commissioner Ir. Wisnu Askari Marantika President Director Ir. Alwin Syah Loebis, MM 2,716
Commissioners Irwan Bahar, Mahendra Siregar, Irwandy Arif, Directors Djaja M. Tambunan, Winardi, Tato Miraza,
Mahmud Hamundu Achmad Ardianto, Denny Maulasa

2009 President Commissioner Ir. Wisnu Askari Marantika President Director Ir. Alwin Syah Loebis, MM 2,825
Commissioners Dr. Ir. Irwan Bahar Directors Djaja M. Tambunan
Mahendra Siregar, SE, M.Ec. Ir. Winardi, MM
Prof. Hikmahanto Juwana, SH, LLM, Ph.D Ir. Tato Miraza, SE, MM
Ir. H. Mahmud Hamundu, M.Sc Ir. Achmad Ardianto, MBA
Ir. Denny Maulasa, MM
(million rupiah)
1998 1999 2000 2001 2002 2003 2004 2005

Total Assets 1,976,837 2,055,246 2,516,337 2,555,511 2,525,026 4,326,844 6,042,568 6,402,714
Current Assets 709,879 762,534 1,261,972 1,328,031 1,256,790 2,548,841 2,992,480 2,087,512
of which
Cash on hand and in banks 476,954 393,568 706,778 801,747 641,457 1,926,543 1,998,552
Cash and cash equivalents 740,493
Trade deposits
Trade receivables 55,071 88,043 79,874 136,157 138,611 131,404 281,994 467,998
Inventories 131,036 183,162 238,949 256,504 336,080 334,442 396,065 527,290
Non-Current Assets 1,268,235 1,778,003 3,050,088 4,315,202
of which
Fixed Asset Net 1,026,173 1,093,479 1,080,547 1,048,842 1,022,583 1,521,337 2,692,859 3,825,459
Prepaid
Deffered Tax Assets-Net 37,916 62,789 95,489 123,118
Investment 30,929 30,929 30,929 30,929 30,929 30,929 30,929 30,929
Other Assets 209,856 168,304 142,889 147,709 27,641 2,542 21,070 6,149

Liabilities 600,490 607,592 766,030 635,786 843,863 2,543,332 3,564,426 3,373,069


Current Liabilities 237,753 310,027 498,935 433,365 428,803 448,719 1,040,423 779,406
of which
Short-term debt 64,200 144,588 131,333 131,617 107,592 59,255 n.a n.a
Bank loans
Bank borrowings
Trade payables 19,533 36,451 44,895 61,087 95,090 69,055 94,264 116,535
Taxes payable
Accrued expenses 34,244 27,116 67,993 74,905 114,565 239,876 609,800 385,121
Current maturities of
long-term debt
Long-term Liabilities 352,093 287,978 258,064 196,214
Non-current Liabilities 415,060 2,094,613 2,524,002 2,593,663
Minority Interests in Subsidiaries 10,644 9,587 9,032 6,207 5,687 1 2 3

Shareholders' Equity 1,376,347 1,447,654 1,750,307 1,919,725 1,675,476 1,783,512 2,478,141 3,029,643
Paid-up capital 615,385 615,385 615,385 615,385 953,846 953,846 953,846 953,846
Paid-up capital
in excess of par value 387,692 340,988 340,988 340,988 2,526 2,526 2,526 2,526
Revaluation of fixed assets
Retained earnings 373,271 491,282 793,935 963,353 719,104 827,139 1,521,768 2,073,271

Net Sales 1,021,911 966,145 1,566,309 1,735,224 1,711,400 2,138,811 2,858,538 3,251,236
Cost of Good Sold 450,751 547,727 860,275 1,091,099 1,280,481 1,471,913 1,501,513 1,827,141
Gross Profit 571,160 418,418 706,034 644,125 430,918 666,898 1,357,025 1,424,095
Operating Expenses 95,834 100,402 168,754 173,104 183,501 218,915 264,939 324,324
Operating Profit 475,326 318,016 537,280 471,022 247,417 447,983 1,092,086 1,099,771
Other Income (Expenses) (94,225) 1,778 10,616 32,826 (4,149) (126,277) 66,223 102,907
Profit before Taxes 381,101 319,794 547,896 503,848 243,268 321,706 1,158,309 1,202,678
Profit after Taxes 299,356 234,345 383,155 358,155 177,403 226,551 807,109 841,936

Per Share Data (Rp)


Earnings per Share 243 190 311 291 93 119 423 441
Equity per Share 1,118 1,176 1,422 1,560 878 935 1,299 1,588
Dividend per Share 104 79 156 94 n.a 39 128 150
Closing Price 1,625 1,400 900 800 600 1,925 1,725 3,575

Financial Ratios
PER (x) 6.68 7.35 2.89 2.75 6.45 16.21 4.08 8.10
PBV (x) 1.45 1.19 0.63 0.51 0.68 2.06 1.33 2.25
Dividend Payout (%) 42.71 41.59 50.00 32.26 n.a 32.84 30.25 34.00
Dividend Yield (%) 6.39 5.66 17.30 11.73 n.a 2.03 7.42 4.20

Current Ratio (x) 2.99 2.46 2.53 3.06 2.93 5.68 2.88 2.68
Debt to Equity (x) 0.44 0.42 0.44 0.33 0.50 1.43 1.44 1.11
Leverage Ratio (x) 0.30 0.30 0.30 0.25 0.33 0.59 0.59 0.53
Gross Profit Margin (x) 0.56 0.43 0.45 0.37 0.25 0.31 0.47 0.44
Operating Profit Margin (x) 0.47 0.33 0.34 0.27 0.14 0.21 0.38 0.34
Net Profit Margin (x) 0.29 0.24 0.24 0.21 0.10 0.11 0.28 0.26
Inventory Turnover (x) 3.44 2.99 3.60 4.25 3.81 4.40 3.79 3.47
Total Assets Turnover (x) 0.52 0.47 0.62 0.68 0.68 0.49 0.47 0.51
ROI (%) 15.14 11.40 15.23 14.02 7.03 5.24 13.36 13.15
ROE (%) 21.75 16.19 21.89 18.66 10.59 12.70 32.57 27.79

Growth (%)
Indicators 1998 1999 2000 2001 2002 2003 2004 2005
1 Total Asset 3.97 22.43 1.56 (1.19) 71.36 39.65 5.96
2 Share Holder's Equity 5.18 20.91 9.68 (12.72) 6.45 38.95 22.25
3 Net Sales/Income (5.46) 62.12 10.78 (1.37) 24.97 33.65 13.74
4 Net Profit (21.72) 63.50 (6.52) (50.47) 27.70 256.26 4.32
Summary of Financial Statement
PT. Aneka Tambang Tbk.
          (million rupiah)
2006 2007 2008

Total Assets 7,292,142 12,043,691 10,245,041


Current Assets 3,317,603 8,048,100 5,819,532
  of which
  Cash and cash equivalents 1,194,088 4,743,875 3,442,768
  Trade receivables 900,833 1,680,060 594,950
  Inventories 947,390 1,319,084 1,391,472
Non‐Current Assets 3,974,539 3,995,591 4,425,509
  of which
  Fixed Assets‐Net 3,346,303 3,022,622 2,890,478
  Deffered Tax Assets‐Net  166,112 314,769 380,271
  Investments 36,688 55,798 92,608
  Other Assets 25,748 63,477 51,672

Liabilities 3,010,537 3,292,364 2,130,970


Current Liabilities 1,179,516 1,818,063 725,942
  of which
  Short‐term debt n.a n.a n.a
  Trade payables 127,505 79,935 130,532
  Accrued expenses   331,881 452,007 204,532
Non‐Current Liabilities 1,831,021 1,474,301 1,405,029
Minority Interests in Subsidiaries 3 1,220 50,933

Shareholders' Equity 4,281,602 8,750,106 8,063,138


  Paid‐up capital 953,846 953,846 953,846
  Paid‐up capital 
               in excess of par value 2,526 2,526 2,526
  Retained earnings 3,325,230 7,793,734 7,106,766

Net Sales 5,629,401 12,008,202 9,591,981


Cost of Goods Sold 2,887,936 4,678,818 6,940,797
Gross Profit 2,741,466 7,329,385 2,651,184
Operating Expenses 337,772 552,540 1,197,052
Operating Profit 2,403,694 6,776,845 1,454,133
Other Income (Expenses) (183,805) 505,557 475,536
Profit before Taxes 2,219,889 7,282,402 1,929,668
Profit after Taxes 1,552,777 5,118,988 1,368,139

Per Share Data (Rp)
Earnings per Share 163 537 143
Equity per Share 449 917 845
Dividend per Share 326 n.a n.a
Closing Price 8,000 4,475 1,090

Financial Ratios
PER (x)  49.14  8.34  7.60
PBV (x)  17.82  4.88  1.29
Dividend Payout (%)  200.00 n.a n.a
Dividend Yield (%)  4.07 n.a n.a

Current Ratio (x)  2.81  4.43  8.02


Debt to Equity (x)  0.70  0.38  0.26
Leverage Ratio (x)  0.41  0.27  0.21
Gross Profit Margin (x)  0.49  0.61  0.28
Operating Profit Margin (x)  0.43  0.56  0.15
Net Profit Margin (x)  0.28  0.43  0.14
Inventory Turnover (x)  3.05  3.55  4.99
Total Assets Turnover (x)  0.77  1.00  0.94
ROI (%)  21.29  42.50  13.35
ROE (%)  36.27  58.50  16.97

PER = 21.27x ; PBV = 2.50x  (June 2009)
Financial Year: December 31
Public Accountant: Purwantono, Sarwoko & Sandjaja