Company FundamentalsCompany Fundamentals\Company Profile

A Wright Investors' Service Research Report:

PT Tiga Pilar Sejahtera Food Terbuka
COMPANY PROFILE

440 Wheelers Farms Road Milford, CT 06461 U.S.A.

Figures in Indonesian Rupiahs
Wright Quality Rating:DBNN PT Tiga Pilar Sejahtera Food Tbk is an Indonesia-based food manufacturing company. The Company is engaged in noodles manufacturing and trading, which consist of dry noodle, instant noodle, vermicelli, snack, biscuit and candy industry, palm oil plantations and rice mill distribution. Its product lines include Ayam 2 Telor, Superior Spesial, Hahamie, Bihunku, Manami, Mikita, Mie Kremezz and Gulas. Stock Chart Officers President Commissioner Priyo Hadi Sutanto President Stefanus Joko Magoginta Secretary Yulianni Liyuwardi Key Data Ticker: AISA 2011 Sales: 1,752,802,000,000 Major Industry: Food & Beverages Sub Industry: Miscellaneous Food Country: Indonesia Currency: Indonesian Rupiahs Fiscal Year Ends: December Employees 2,059 Stock Price (5/25/2012): 590.00 Recent stock performance 1 Week 3.5% 4 Weeks -14.5% 13 Weeks 26.9% 52 Weeks 0.8% Earnings / Dividends (as of 12/31/2011) Earnings Dividends Most Recent Qtr 33.77 Last 12 Months 74.22 Ratio Analysis Price / Earnings Ratio 7.95 Dividend Yield 0.00% Price / Sales Ratio Price / Book Ratio 0.98 Payout Ratio 0.00% 0.97 % Held by Insiders 48.48% Address Phone +62 21 831 8775 Exchanges: JAK Share Type: Series A Market Capitalization: 0.00 1,726,340,000,000 0.00 Total Shares Outstanding: 2,926,000,000 Closely Held Shares: 1,418,457,050

Prof Dr Supomo St No 233 JAKARTA 12870

INDONESIA

Home Page http://www.tigapilar.com

Copyright ©2000-2012 Distributed by Wright Investors' Service, Inc. All Rights Reserved. Except for quotations by established news media, no pages on this site may be reproduced, stored in a retrieval system, or transmitted for commercial purposes, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without prior written permission. Information is believed reliable, but accuracy, completeness and opinions are not guaranteed.

Company Fundamentals\Comparative Business Analysis

A Wright Investors' Service Research Report:

PT Tiga Pilar Sejahtera Food Terbuka
Provided By CorporateInformation.com
440 Wheelers Farms Road Milford, CT 06461 U.S.A.

Wright Comparative Business Analysis Report
Report Date: 5/25/2012 Company Description PT Tiga Pilar Sejahtera Food Tbk is an Indonesia-based food manufacturing company. The Company is engaged in noodles manufacturing and trading, which consist of dry noodle, instant noodle, vermicelli, snack, biscuit and candy industry, palm oil plantations and rice mill distribution. Its product lines include Ayam 2 Telor, Superior Spesial, Hahamie, Bihunku, Manami, Mikita, Mie Kremezz and Gulas. Competitor Analysis PT Tiga Pilar Sejahtera Food Terbuka operates in the Macaroni and spaghetti sector. This analysis compares PT Tiga Pilar Sejahtera Food Terbuka with three other companies: Consciencefood Holding Limited (2011 sales of 742.76 billion Indonesian Rupiahs [US$80.22 million] of which 98% was Instant Noodles), PT Delta Djakarta (2011 sales: 564.05 billion Indonesian Rupiahs [US$60.92 million] ), and Marutai Co., Ltd. which is based in Japan (2012 sales of 9.09 billion Japanese Yen [US$114.30 million] ). Note: not all of these companies have the same fiscal year: the most recent data for each company are being used. Sales Analysis PT Tiga Pilar Sejahtera Food Terbuka reported sales of 1.75 trillion Indonesian Rupiahs (US$189.30 million) for the year ending December of 2011. This represents an increase of 148.5% versus 2010, when the company's sales were 705.22 billion Indonesian Rupiahs. This was the third consecutive year of growth at PT Tiga Pilar Sejahtera Food Terbuka.
Recent Sales at PT Tiga Pilar Sejahtera Food Terbuka 2

0

0

0

1

1

2006 2007 2008 2009 2010 2011 (Figures in Trillions of Indonesian Rupiahs)

During 2011, the company's sales increased at a faster rate than all three comparable companies. While PT Tiga Pilar Sejahtera Food Terbuka enjoyed a sales increase of 148.5%, the other companies saw smaller increases: Consciencefood Holding Limited sales were up 22.3%, PT Delta Djakarta increased 3.0%, and Marutai Co., Ltd. experienced growth of 32.0%. PT Tiga Pilar Sejahtera Food Terbuka currently has 2,059 employees. With sales of 1.75 trillion Indonesian Rupiahs (US$189.30 million) , this equates to sales of US$91,939 per employee. Sales Comparisons (Most Recent Fiscal Year) Company Consciencefood Holding Limited PT Delta Djakarta Marutai Co., Ltd. Year Ended Dec 2011 Dec 2011 Sales
(US$mlns)

Sales Sales/ Growth Emp (US$) Largest Region 91,939 N/A N/A N/A 157,004 N/A 761,997 N/A 22.3% 3.0% 32.0%

PT Tiga Pilar Sejahtera Food Terbuka Dec 2011 189.303 148.5% 80.219 60.918

Mar 2012 114.300

Recent Stock Performance For the 52 weeks ending 5/25/2012, the stock of this company was up 0.8% to 590.00 Indonesian Rupiahs. During the past 13 weeks, the stock has increased 26.9%. During the 12 months ending 12/31/2011, earnings per share totalled 74.22 Indonesian Rupiahs per share. Thus, the Price / Earnings ratio is 7.95. Earnings per share rose 80.4% in 2011 from 2010. This company is currently trading at 0.98 times sales. The three companies vary greatly in terms of price to sales ratio: trading from 0.39 times all the way up to 5.39 times their annual sales. PT Tiga Pilar Sejahtera Food Terbuka is trading at 0.97 times book value. Since the price to book ratio is less than 1, this means that theoretically, the net value of the assets is greater than the value of a company as a going concern. Summary of company valuations Company Consciencefood Holding Limited PT Delta Djakarta Marutai Co., Ltd. Date 5/25/2012 P/E 7.9 4.0 Price/ Price/ Book Sales 0.97 0.93 5.49 0.47 0.98 52 Wk Pr Chg 0.80%

PT Tiga Pilar Sejahtera Food Terbuka 5/25/2012

0.70 -19.81% 5.39 50.79% 0.39 -7.46%

5/21/2012 19.0 5/25/2012 11.2

The market capitalization of this company is 1.73 trillion Indonesian Rupiahs (US$186.44 million) . The capitalization of the floating stock (i.e., that which is not closely held) is 889.45 billion Indonesian Rupiahs (US$96.06 million) . Dividend Analysis This company has paid no dividends during the last 12 months. The company has not paid any dividends during the previous 6 fiscal years. Profitability Analysis On the 1.75 trillion Indonesian Rupiahs in sales reported by the company in 2011, the cost of goods sold totalled 1.28 trillion Indonesian Rupiahs, or 73.0% of sales (i.e., the gross profit was 27.0% of sales). This gross profit margin is lower than the company achieved in 2010, when cost of goods sold totalled 61.3% of sales. PT Tiga Pilar Sejahtera Food Terbuka's 2011 gross profit margin of 27.0% was lower than all three comparable companies (which had gross profits in 2011 between 29.5% and 72.3% of sales). The company's earnings before interest, taxes, depreciation and amorization (EBITDA) were 355.80 billion Indonesian Rupiahs, or 20.3% of sales. This EBITDA margin is worse than the company achieved in 2010, when the EBITDA margin was equal to 30.9% of sales. The three comparable companies had EBITDA margins that were all higher (between 24.1% and 45.4%) than that achieved by PT Tiga Pilar Sejahtera Food Terbuka. In 2011, earnings before extraordinary items at PT Tiga Pilar Sejahtera Food Terbuka were 126.91 billion Indonesian Rupiahs, or 7.2% of sales. This profit margin is lower than the level the company achieved in 2010, when the profit margin was 10.7% of sales. Earnings before extraordinary items have grown for each of the past 5 years (and since 2007, earnings before extraordinary items have grown a total of 705%). The company's return on equity in 2011 was 22.0%. This was an improvement over the 17.6% return the company achieved in 2010. (Extraordinary items have been excluded). Profitability Comparison Gross Earns Profit EBITDA bef. Year Margin Margin extra 27.0% 38.7% 29.5% 72.3% N/A 20.3% 7.2% 30.9% 10.7% 24.1% 17.6% 39.8% 25.7% 45.4% 3.5%

Company

PT Tiga Pilar Sejahtera Food Terbuka 2011 PT Tiga Pilar Sejahtera Food Terbuka 2010 Consciencefood Holding Limited PT Delta Djakarta Marutai Co., Ltd. 2011 2011 2012

PT Tiga Pilar Sejahtera Food Terbuka reports profits by product line. During 2011, the itemized operating profits at all divisions were 307.85 billion Indonesian Rupiahs, which is equal to 17.6% of total sales. Of all the product lines, Food Manufacturing had the highest operating profits in 2011, with operating profits equal to 22.5% of sales. (This product line is the largest at PT Tiga Pilar Sejahtera Food Terbuka, and accounted for 54% of sales in 2011). Rice Products had the lowest operating profit margin in 2011, with the operating profit equal to only 12.0% of sales.

MODIFIED OR FRAMED WITHOUT PRIOR WRITTEN PERMISSION. when the company's inventory was 484. RELIABILITY OR TIMELINESS OF THE CONTENT. As of December 2011. the company's long term debt was 827. the value of the company's inventory totalled 439. THE CONTENT OF THIS REPORT IS PROTECTED BY APPLICABLE COPYRIGHT LAWS. which is equivalent to 99 days of sales. WRIGHT INVESTORS' SERVICE. LT Debt/ Days Days Year Equity AR Inv. OR ANY OF THEIR DATA PROVIDERS BE LIABLE FOR ANY DIRECT. the accounts receivable for the company were 474. .93 billion Indonesian Rupiahs.28 trillion Indonesian Rupiahs for the year. DISTRIBUTED..Inventory Analysis As of December 2011. INDIRECT. this is a significant improvement over December 2010. when the long term debt to equity ratio stood at 1. equivalent to 409 days in inventory. NO REPRESENTATION OR WARRANTY IS MADE REGARDING THE ACCURACY.00 0. All Rights Reserved Important Legal Notice THIS REPORT IS PROVIDED FOR GENERAL INFORMATION ONLY.9 times per year). EXPRESS OR IMPLIED. WITHOUT WARRANTY OF ANY KIND. FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT. THIS REPORT IS PROVIDED AS IS. Since the cost of goods sold was 1.55 billion Indonesian Rupiahs.e. THE REPORTS ARE COMPUTER GENERATED AND MAY BE SUBJECT TO PROGRAMMATIC AND/OR CONTENT ERRORS. This is significantly lower than the long term debt to equity ratio as of in December 2010. CONTENT MAY NOT BE REPRODUCED. all monies owed) were 1.75 trillion Indonesian Rupiahs. VISITORS SHOULD VERIFY INFORMATION WITH OTHER RELIABLE SOURCES. Ltd.00 99 77 145 79 125 35 203 20 2011 2011 2012 PT Tiga Pilar Sejahtera Food Terbuka 2011 Copyright 2001-2012 The Winthrop Corporation Distributed by Wright Investors' Service.27 billion Indonesian Rupiahs and total liabilities (i.45. INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY. This is higher than at the end of 2010. Inc. The long term debt to equity ratio of the company is 0. SPECIAL OR CONSEQUENTIAL DAMAGES. the company had 125 days of inventory on hand (another way to look at this is to say that the company turned over its inventory 2. 0.53 billion Indonesian Rupiahs. In terms of inventory turnover.00 0. Financial Positions Company Consciencefood Holding Limited PT Delta Djakarta Marutai Co. INC.02. IN NO EVENT WILL THE WINTHROP CORPORATION. IS NOT TO BE CONSIDERED AS INVESTMENT ADVICE AND SHOULD NOT BE RELIED UPON FOR INVESTMENT DECISIONS.45 0.. Financial Position As of December 2011. NO MATTER WHAT THE CAUSE. when PT Tiga Pilar Sejahtera Food Terbuka had 84 days of sales in accounts receivable.

7:4 RIGHT ISSUE (09.2% 11.00 0.Indonesian Rupiahs Price PT Tiga Pilar Sejahtera Food Terbuka Equity Capital % Profit Rate (ROE) n/c 0. FULLY DILUTED EARNINGS FOR THE 12 MOS ENDED DEC 2007 WERE 13.0% 0.59 181. INCLS GAIN/(LOSS) FROM DISCONTINUED OPERATIONS EQUAL TO (0.57 329.7% 80.3 6.375% DIV) ON 12/02/2011.10 16. (U ): BASED ON AVERAGE SHARES OUTSTANDING (E): .00 590.99 80.6% 23.0 1.3 2.9 8.6% 314.0% 0.94 151.0% 0. or transmitted for commercial purposes. or otherwise without prior written permission.0% 0.6 1.6% 234.00 0. Inc. no pages on this site may be reproduced.0% 0.64 78.0% 0.5% 31.5 3.2 1.0% 0.6% 16.45 (A): ALL ITEMS ADJUSTED FOR STOCK SPLITS OR DIVIDENDS . completeness and opinions are not guaranteed.7 21. All Rights Reserved.0% 0.2% 213.1% % Change n/c n/c n/c n/c 0.0% n/c 0.6% 19.14 495. 8:5 RIGHTS ISSUE (05.00 Price/ Price/ % Earnings Book Dividend Earned Ratio Ratio Yield Growth n/c 2.0% A A Fiscal Yr Ends: December 2003 2004 2005 2006 2007 2008 2009 2010 2011 5/25/2012 Market Price Last 194.9 n/c 2.0 0. Information is believed reliable.77 91.61 185.14 713.0% 0.00 0. .00 0.96 41.82 D D D D D Year Value Ratios Earnings 12 Month Earnings Per Share BDE 15.8% 13.62 388.08 n/a 0.0% 0.00 0.14 74.8% 19.7 7.0% 0.2 n/c 1.1% 0.67 78.62 17.0% 0.4 13.4% n/c 11.0% 0.7 17.458.34 648.Company Fundamentals\Summary Analysis SUMMARY ANALYSIS: Per Share.04 12.0% 0.72%DIV) ON 05/08/2008 (B): INCLUDES OR EXCLUDES EXTRAORDINARY CHARGE OR CREDIT (C): NAME CHANGED FROM PT ASIA INTI SELERA TBK IN FEB 2004 (D): BASED ON AVERAGE SHARES OUTSTANDING. photocopying. mechanical.90) IN 2003 Copyright ©2000-2012 Distributed by Wright Investors' Service.00 0. electronic.00 0.30 DE Dividends 12 Month % Dividends Payout Per Ratio Share n/c 0.00 0.22 74.84 n/a n/a 606. stored in a retrieval system.1% Book Value Begin Yr -73. Except for quotations by established news media.28 23. recording.00 0.6% 17.2 4.64 78.6% 18.7% 71.00 0.0% 0.19 23.0% 0.466.1% n/c 0.0% n/c 0.4 1.22 39.333. but accuracy. in any form or by any means.3 49.

0% 32.1% 9.629.896 19. mechanical.988 38.004 61.1% 90 35 130 15.0% 362.2% 432.0% 0.892 20.802 148. in any form or by any means.8% 167.432 67.116.4% 271.870 489. no pages on this site may be reproduced.172 533.Company Fundamentals\Sales Analysis SALES ANALYSIS: Figures in millions of Indonesian Rupiahs PT Tiga Pilar Sejahtera Food Terbuka Earnings before Interest.2% -8.567 212. photocopying.0% 0.805 30.9% 7.104 2.4% 56.202 74.277 61.798.1% 1. Taxes.953 Year 2002 2003 2004 2005 2006 2007 2008 2009 2010 % of Sales % of Sales % of Sales Number n/a n/a n/a n/a 35.686 37.752. Except for quotations by established news media.764 -37.1% 112.234 10.2% 2011 1.6% 272.4% 0.688 14.4% 39.2% 5. Inc. .5% 299.059 851.194 705.1% 228.931.437 229.142 75.414 2. All Rights Reserved.502 17.7% 10.109 20.5% 1.760 28.938 257.820 13.906 Copyright ©2000-2012 Distributed by Wright Investors' Service.202 30.391 81. stored in a retrieval system.776 62.288.063 237.220 36.7% 7.167 20.5% 143. and Amortization (EBITDA) Amount in millions Sales Amount in millions Year-toyear Growth Cost of Goods Sold Amount in millions After Tax Income before Extraordinary Charges and Credits Amount in millions Employees Sales Per Employee n/a n/a n/a n/a After Tax Income Per Employee n/a n/a n/a n/a 82.3% 27. Information is believed reliable.9% 72.4% 392.7% 45.993 1.3% 35.787 0.9% 34.428.7% 171.624 73.973 333.337. but accuracy. recording.904.0% 49.341 1.0% 3.4% 163.961 8.610 1.816 388.3% 46. completeness and opinions are not guaranteed.455 499.787 29. or transmitted for commercial purposes.983.216 78.634.774 75.839 71.004 41. electronic.2% 163.420 368.278 16.461 -5.449 61.925 276.7% 126. Depreciation.131.2% 331.9% -2.279.087 98. or otherwise without prior written permission.

Mar Apr .5% 36.586 2004 Jan .910 151.143 388.Jun 388.644 484.1% -41.082 622.8% 13.620 2008 Jan .372 185.938 138.9% 5.675 429.620 467.0% -16.3% -23.000 99.938 181.7% 5.2% -20.3% -13.Jun Jul .Mar Apr .4% -11.317 134.1% 15.571 320.Dec 181.Jun Jul .427 159.Dec 448.303 103.Mar Apr .993 0.427 77.9% -11.234 138.372 99.986 198.4% -32.857 333.689 172.006 648.614 2005 Jan .Jun Jul .5% 61.910 298.020 159.289 220.993 Oct .Dec 194.857 457.807 112.000 342.Sep 203.0% -6.143 406.000 521.509 536.614 Oct .938 112.857 406.8% 2.345 Oct .Sep 164.Sep 700.5% -18.5% 0.3% 2.0% 2.050 164.669 2007 Jan .4% -9.696 104.669 0.6% -32.317 90.654 Oct .000 329.345 198.571 .Indonesian Rupiahs PT Tiga Pilar Sejahtera Food Terbuka 12 months % Change n/a n/a n/a n/a -42.427 185.0% -43.455 151.910 172.6% 476.724 164.6% -7.3% Jan .0% -15.Dec 155.807 194.Mar Apr .1% 9.3% Quarter 2003 High Price Low Price Closing Price Quarterly %Change n/a -40.0% -11.8% 243.3% 328.365 Apr .804 112.372 172.0% 12.Company Fundamentals\Price Analysis PRICE ANALYSIS: Per Share.192 588.4% -19.000 138.427 102.0% 16.1% -3.7% -13.Dec 648.Sep 181.531 129.779 475.714 448.938 2006 Jan .Sep 302.5% 42.9% -40.Dec 185.571 2009 Jan .6% 2.2% -31.Mar Apr .965 198.143 Oct .965 177.8% 328.Sep 154.Jun Jul .834 181.317 142.586 Oct .372 181.4% -14.3% 18.965 90.Jun Jul .714 388.Mar 319.6% -6.455 155.614 112.614 138.5% 354.048 147.6% -30.614 185.Jun Jul .Mar Apr .

no pages on this site may be reproduced.429 740.857 566.2% 50. completeness and opinions are not guaranteed.5% -19.0% 26.3% 0.000 440.Mar Apr .0% -15.143 Oct .286 440.000 2012 Jan .857 603.7% -30.571 548.714 374.6% -30.5% 1.000 495.143 475.5% -12. Except for quotations by established news media.9% 2.7% 23.Mar Apr . electronic.Dec 786.1% 116. recording.3% -8.286 315.000 590.571 365.9% 26.000 5/25/2012 Copyright ©2000-2012 Distributed by Wright Investors' Service.Sep 749. or transmitted for commercial purposes.714 329.000 731.Sep 420.7% 131.Jun Jul . mechanical. All Rights Reserved.714 576.Dec 658.Mar 540.571 411.429 758.429 585. or otherwise without prior written permission.8% Oct .000 510.571 612. in any form or by any means.143 2011 Jan .2% 3.Jun Jul .Sep 324.6% -17.286 512.571 274.000 713.143 2010 Jan . Inc.Dec 374.429 612. photocopying.857 -3.9% 4. but accuracy.Jul .4% 56.429 521. Information is believed reliable.857 269.571 Oct . stored in a retrieval system.1% 21.143 297.9% -18.0% 22. .2% -4.

39 BD 46. (U ): BASED ON AVERAGE SHARES OUTSTANDING (E): .20 -0.53 13.23 26.10 D 18.57 0.00 0.00 0.0% Quarterly Reported Earnings Q1 Mar.03 0.07 -4.31 39. Except for quotations by established news media.00 n/c n/c n/c n/c n/c n/c n/c n/c n/c n/c n/c Quarterly Reported Dividends Q1 Mar.7% 80.06 -2.54 12. INCLS GAIN/(LOSS) FROM DISCONTINUED OPERATIONS EQUAL TO (0.39 33.89 n/a -1.16 BDE 15.11 205. n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Q4 Dec.0% 0.00 0.16 12.00 0.04 12.55 9.00 0.89 -4.0% 0.92 9. or otherwise without prior written permission.30 DE 0.0% 0.00 0.31 3.77 2003 2004 2005 2006 2007 2008 2009 2010 2011 (A): D 13. Q4 Dec.6% 4.00 0.00 0.00 A 0.08 n/a D 0. Information is believed reliable.0% 0.00 0.66 11.22 121.09 1.0% 0.00 A 0.00 0. All Rights Reserved. n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Q2 Jun.00 0.81 3.06 10.00 % Payout 0. Q2 Jun.466.Indonesian Rupiahs Fiscal Year Ends in December Earnings Per Share 12 Months Fiscal Years Earnings 2001 2002 C Dividends Per Share 12 Months % Dividends Change 0.14 74.78 2.7:4 RIGHT ISSUE (09.97 4.0% 0.00 0. or transmitted for commercial purposes. completeness and opinions are not guaranteed.20 -0.0% 0. FULLY DILUTED EARNINGS FOR THE 12 MOS ENDED DEC 2007 WERE 13.00 0.72%DIV) ON 05/08/2008 (B): (C): (D): INCLUDES OR EXCLUDES EXTRAORDINARY CHARGE OR CREDIT NAME CHANGED FROM PT ASIA INTI SELERA TBK IN FEB 2004 BASED ON AVERAGE SHARES OUTSTANDING.0% 0. photocopying.0% 0.27 -0.96 D 41.0% 0. mechanical.12 5.70 201.06 4.00 0. % Change n/c n/c n/c n/c n/c n/c 39.07 7.66 0.81 1. recording. 8:5 RIGHTS ISSUE (05.00 0.57 104.90) IN 2003 Copyright ©2000-2012 Distributed by Wright Investors' Service.Company Fundamentals\Earnings & Dividends Analysis EARNINGS AND DIVIDENDS ANALYSIS: Terbuka PT Tiga Pilar Sejahtera Food Per Share.94 14. no pages on this site may be reproduced.7% 71.03 -0.13 11.78 0. electronic.52 2.00 0.5% 31. but accuracy.375% DIV) ON 12/02/2011. Inc.45 -55. 0.84 ALL ITEMS ADJUSTED FOR STOCK SPLITS OR DIVIDENDS .00 0. stored in a retrieval system. Q3 Sep. in any form or by any means.00 0.72 1.19 D 23.43 n/a 1.4% -324. n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Q3 Sep. .

4% 48.Common Size Balance Sheet .5% 5.586.0% 84.0% 67.5% 7.6% 44.930.0 22.0% 34.9% 14.9% 5.7% 1.3% 2.1% 1.(Common Size): PT Tiga Pilar Sejahtera Food Terbuka 2010 2009 2008 2007 Figures are expressed as Percent of Total Assets.3 5.2% 0.8% 1.0% 0.6% 67.Financial Statement AnalysesFinancial Statement Analyses\Balance Sheet .436.0% 0.2% 0.6% 9.4% 16.4% 0.2% 0.0% 65.1% 2.0% 12.5% 2.1% 8.4% 4.0% 73.6% 0.0% 32.5% 0.3% 16.4% 25. Fiscal Year Fiscal Year End Date Assets Total Assets Cash & Short Term Investments Cash Short Term Investments Receivables (Net) Inventories -Total Raw Materials Work in Process Finished Goods Progress Payments & Other Prepaid Expenses Other Current Assets Current Assets .Total Long Term Receivables Investment in Associated Companies Other Investments Property Plant and Equipment .1% 0.0% 8.8% 16. Total Assets are in millions of Indonesian Rupiahs.346.2% 0.1% 0.0% 0.0% 48.233.8% .3% 0.8% 21.768.0% 0.5% 7.9% 0.0 1.037.5% 1.8% 19.8% 0.0% 0.6% 38.4% 31.6% 51.6% 20.3% 1.2% 12.3% 6.6% 15.5% 1.7% 1.6% 10.016.6% 0.0% 0.3% 0.6% 13.0% 53.5% 0.6% 1.0% 16.4% 2.3% 14.8% 10.2% 0.6% 1.0 1.1% 16.0% 0.4% 5.0 1.3% 0.0% 0.8% 0.368.1% 10.3% 16.1% 0.5% 514.0% 48.3% 20.Gross Accumulated Depreciation Property Plant and Equipment – Net Other Assets 2011 12/31/2011 12/31/2010 12/31/2009 12/31/2008 12/31/2007 3.4% 8.

7% 20.0% 1.9% 1.8% 0.6% 0.0% -0.3% 35.1% 0.0% 3.0% 0.1% 0.0% 0.3% 3.4% 7.0% 100.0% 0.8% 1.1% 0.346.9% 0.9% 39.Total Long Term Debt Long Term Debt Excluding Capitalized Leases Capitalized Lease Obligations Provision for Risks and Charges Deferred Income Deferred Taxes Deferred Taxes .0% -0.0% 18.Debit Deferred Tax Liability in Untaxed Reserves Other Liabilities Total Liabilities 4.930.5% 0.2% 1.0 1.3% 22.1% 0.2% 0.1% 0.3% 0.233.1% 0.2% 0.3% 0.0% 3.0% 7.1% 1.2% 0.0% 48.5% 26.3% 2.1% 1.8% 21.6% 0.1% 1.3% 514.0% -0.3 15.768.016.Credit Deferred Taxes .Deferred Charges Tangible Other Assets Intangible Other Assets Total Assets Liabilities & Shareholders' Equity Total Liabilities & Shareholders' Equity Accounts Payable Short Term Debt & Current Portion of Long Term Debt Accrued Payroll Income Taxes Payable Dividends Payable Other Current Liabilities Current Liabilities .6% 0.0% 100.0% 15.1% 0.3% 0.436.9% 3.368.9% 25.4% .2% 29.0% 21.8% 31.0 0.0% 1.9% 11.5% 0.6% 58.1% 68.9% 100.6% 0.9% 2.4% 2.0% 0.0 1.4% 2.0% 100.3% 0.9% 0.1% 0.5% 39.0% 1.037.9% 4.4% 0.0% 0.9% 27.0% -0.1% 100.0% 0.0 1.3% 1.2% 0.0% 69.0% 0.7% 19.3% 0.0% 0.8% 0.6% 0.9% 0.9% 30.0% 0.1% 23.4% 25.586.4% 23.9% 36.2% 0.0% 78.1% 61.

Except for quotations by established news media.5% 100.0% 31.0% 0. no pages on this site may be reproduced.8% 100. . completeness and opinions are not guaranteed.0% 0.Non-Equity Reserves Minority Interest Preferred Stock Preferred Stock Issued for ESOP ESOP Guarantees Preferred Issued Common Equity Total Liabilities & Shareholders' Equity 0.6% 0.6% 100.0% 0.0% 1. stored in a retrieval system.0% 0.0% 0.0% 49. Information is believed reliable.0% 21.0% 0.0% Copyright ©2000-2012 Distributed by Wright Investors' Service.4% 100. recording.0% 38.0% 0. Inc.0% 0.0% 29.0% 0. but accuracy. in any form or by any means. or transmitted for commercial purposes.7% 0. mechanical.0% 0.8% 100. photocopying. All Rights Reserved. electronic.0% 0. or otherwise without prior written permission.

0% 273.0% -57.6% 64.920.7% -27.8% 53.2% 34.Total Long Term Receivables Investment in Associated Companies Other Investments Property Plant and Equipment .116.2% 86.9% 38.6% 148.5% -24.9% 3.0% 12.0% 125.9% -13.6% 41.304.Year-Year % Change Balance Sheet .0% 21.0% 33.7% 197.0% 7.0% 46.4% 97.6% -100.5% 32.2% 3.7% 37.4% -1.7% 42.5% 191.0% 32.0% 258.6% 38.352.(Year to Year Percent Change): PT Tiga Pilar Sejahtera Food Terbuka Figures are the Percent Changes from the Prior Year.5% 36.3% 26.6% 46.7% 60.9% 27.4% -39.2% 10.6% -41.9% 56.6% 73.4% 81.7% 41. Fiscal Year Fiscal Year End Date Assets Total Assets Cash & Short Term Investments Cash Short Term Investments Receivables (Net) Inventories -Total Raw Materials Work in Process Finished Goods Progress Payments & Other Prepaid Expenses Other Current Assets Current Assets .2% 63.0% .0% 0.2% 55.4% 215.9% 19.838.8% 5.0% 636.3% -24.4% 159.9% 7.7% -96.7% 6.1% -100.3% 0.0% 3.3% 36.5% 136.7% 25.2% 33.2% 1.2% 7.7% 33.2% 44.4% -26.9% 29.1% 42.2% -42.5% -0.0% 30.9% -29.1% -9.9% 2.0% 6.8% -86.Gross Accumulated Depreciation Property Plant and Equipment – Net Other Assets 2011 2010 2009 2008 2007 12/31/2011 12/31/2010 12/31/2009 12/31/2008 12/31/2007 85.7% -17.2% -46.2% 20.6% 18.7% 38.1% 43.Financial Statement Analyses\Balance Sheet .

8% 128.9% 30.7% 85.0% -35.509.141.4% 215.8% -72.6% 43.0% 2.5% 55.2% 121.9% 52.8% 62.6% -99.8% 410.4% 97.1% -0.8% -72.8% 11.Deferred Charges Tangible Other Assets Intangible Other Assets Total Assets Liabilities & Shareholders' Equity Total Liabilities & Shareholders' Equity Accounts Payable Short Term Debt & Current Portion of Long Term Debt Accrued Payroll Income Taxes Payable Dividends Payable Other Current Liabilities Current Liabilities .639.0% -0.355.2% -8.1% 47.7% 141.5% -92.7% -62.8% 1.1% 154.5% 194.Total Long Term Debt Long Term Debt Excluding Capitalized Leases Capitalized Lease Obligations Provision for Risks and Charges Deferred Income Deferred Taxes Deferred Taxes .2% 125.8% 2.1% 77.3% 32.2% -364.6% 43.4% 151.6% 757.0% -46.156.5% 82.8% -32.2% -90.9% 13.3% 63.2% 75.4% 269.7% .7% 2.9% 27.6% 226.6% 710.0% -8.2% 31.7% 20.1% -9.8% 159.9% 37.8% 41.0% -47.1% 19.6% -15.4% 1.5% 97.9% -40.8% 46.5% 22.3% 93.2% 779.3% 46.5% 43.9% 70.Debit Deferred Tax Liability in Untaxed Reserves Other Liabilities Total Liabilities 6.7% 41.1% 0.7% -76.4% 82.8% 40.1% 91.9% 16.3% 13.8% 30.6% 46.7% 111.7% 28.0% 85.3% -48.4% 85.5% 32.3% 50.3% 39.Credit Deferred Taxes .4% 50.

7% 32. electronic. stored in a retrieval system. photocopying.3% 9.8% Copyright ©2000-2012 Distributed by Wright Investors' Service. no pages on this site may be reproduced. or otherwise without prior written permission.7% 307.4% 43.1% 97. mechanical.9% 3. .7% 16.8% 34.5% 252. All Rights Reserved. recording.273.0% 225. or transmitted for commercial purposes.2% 7.Non-Equity Reserves Minority Interest Preferred Stock Preferred Stock Issued for ESOP ESOP Guarantees Preferred Issued Common Equity Total Liabilities & Shareholders' Equity 208. in any form or by any means. Information is believed reliable.2% 85. but accuracy.6% 41. Inc. completeness and opinions are not guaranteed.8% 9. Except for quotations by established news media.

721.8 20.004.147.331.705.518.067.802.7 178.Financial Statement Analyses\Balance Sheet .4 34.739.117.152.4 130.9 24.418.216.6 1.715.9 364.5 47.620.518.435.5 1.1 26.128.886.148.Gross Accumulated Depreciation Property Plant and Equipment – Net Other Assets Deferred Charges 2011 12/31/2011 12/31/2010 12/31/2009 12/31/2008 12/31/2007 1.4 0.(5 Year Averages): PT Figures in millions of Indonesian Rupiahs.0 20.8 1.397.5 228.578.7 178.3 107.177.Total Long Term Receivables Investment in Associated Companies Other Investments Property Plant and Equipment .528.3 106.606.906.3 22.471.096.8 28.839.349.781.7 301.728.8 170.1 9.6 17.953.555.4 59.859.301.4 216.9 9.0 3.4 0.956.9 719.029.3 35.970.6 3.0 0.9 35.0 5.0 11.5 61.730.4 7.990.454.4 18.120.8 72.336.5 14.7 29.5 141.9 259.050.3 61.9 155.518.0 .2 14.745.410.6 2.6 532.3 37.015.5 90.6 16.034.7 388.9 189.9 51.726.8 1.6 2.1 238.400.348.8 10.645.2 49.0 0.6 3.1 19.0 0.8 6.0 2.222.576.9 194.3 75.2 791.1 63.9 127.1 33.8 132.760.0 277.798.153.6 554.922.639.357.411.0 405.8 10.6 7.845.264.7 85.0 1.678.914.1 52.0 22.068.768.518.3 9.9 19.1 105.252.940.859.4 3.696.804.9 675.9 524.911.6 310.202.375.Five-Year Averages Balance Sheet .361.0 400.9 52.883.199.210.7 96.4 733.8 3. Tiga Pilar Sejahtera Food Terbuka 2010 2009 2008 2007 Fiscal Year Fiscal Year End Date Assets Total Assets Cash & Short Term Investments Cash Short Term Investments Receivables (Net) Inventories -Total Raw Materials Work in Process Finished Goods Progress Payments & Other Prepaid Expenses Other Current Assets Current Assets .808.524.7 199.346.

524.6 18.4 298.4 889.504.2 9.735.003.088.2 15.6 118.559.6 226.680.0 439.0 0.8 388.374.322.0 144.6 2.8 136.6 290.768.340.0 10.489.1 42.6 128.331.621.0 42.3 5.0 319.Total Long Term Debt Long Term Debt Excluding Capitalized Leases Capitalized Lease Obligations Provision for Risks and Charges Deferred Income Deferred Taxes Deferred Taxes .678.034.276.039.6 6.0 .1 9.434.447.129.730.619.125.428.999.099.2 169.812.0 0.5 6.5 3.635.394.4 0.4 43.0 -981.2 366.518.236.8 0.4 0.0 266.979.0 -575.2 0.8 1.845.2 24.Credit Deferred Taxes .985.034.160.8 48.0 397.588.7 9.603.6 710.8 19.216.2 2.0 117.866.5 39.4 0.3 40.5 4.117.845.1 9.4 7.906.438.0 216.439.7 1.808.Debit Deferred Tax Liability in Untaxed Reserves Other Liabilities Total Liabilities Non-Equity Reserves 59.4 0.020.086.0 0.8 273.9 719.424.5 1.0 58.0 -951.0 0.4 524.5 1.0 388.8 0.208.996.950.9 41.674.196.804.2 719.9 3.4 0.Tangible Other Assets Intangible Other Assets Total Assets Liabilities & Shareholders' Equity Total Liabilities & Shareholders' Equity Accounts Payable Short Term Debt & Current Portion of Long Term Debt Accrued Payroll Income Taxes Payable Dividends Payable Other Current Liabilities Current Liabilities .375.6 342.2 117.362.477.699.969.2 75.791.084.007.684.2 463.8 3.364.117.7 1.8 19.3 1.758.903.714.0 524.768.918.8 20.579.0 -1.0 318.4 169.849.355.0 7.0 493.440.9 38.0 495.849.4 1.6 208.0 -790.4 200.9 33.0 388.330.678.0 21.1 1.9 442.

no pages on this site may be reproduced. but accuracy.678.7 0.5 1.372.069.053.845.1 1.3 0.Minority Interest Preferred Stock Preferred Stock Issued for ESOP ESOP Guarantees Preferred Issued Common Equity Total Liabilities & Shareholders' Equity 14. or otherwise without prior written permission.0 111.6 320.117.0 230.9 157.730.9 98.7 0.330. recording.374.6 719.0 656. mechanical.5 0. photocopying.056. stored in a retrieval system. All Rights Reserved. completeness and opinions are not guaranteed. in any form or by any means. Information is believed reliable. Except for quotations by established news media.2 224.0 167.2 388.4 524. .5 Copyright ©2000-2012 Distributed by Wright Investors' Service.198. Inc. or transmitted for commercial purposes.034.5 0. electronic.768.0 3.718.

4% 0.2% 0.Increase/Decrease Pretax Equity in Earnings Other Income/Expense .8% 10.2% 8.4% 10.Pretax Non-Operating Interest Income Reserves .3% 13.220.(Common Size): PT Tiga Pilar Sejahtera Food Terbuka 2010 2009 2008 2007 Figures are expressed as Percent of Net Sales or Revenues.752.0% 0.0% 1.0% 0. Net Sales or Revenues are in millions of Indonesian Rupiahs.6% 0.172.7% 7.3% 0.1% 17.0% 0.Common Size Income Statement .0% 9.2% 19.1% 11.0% 0.9% 0.3% 17.3% 6.8% 29.Total Operating Income Extraordinary Credit .0% 25.0% 0.3% 0.7% 61.0% -1.0 499.5% 10.0% -1.0% 0.2% 0.2% 8.0% 0.0% 1.8% 83.0 705.0 489.2% 80.7% 0.7% 0.0% 3.0% 0.0% 0.6% 0.7% 12.1% 0.0% 0.Financial Statement Analyses\Income Statement .1% 16.6% 2.0% .8% 3.0% 21.0% 13.8% 38. Depletion & Amortization Gross Income Selling.0% 0.9% 23.0% 0.5% 4.0% 0.2% 14.0% 25.0% 0.870.3% 7.0% 0. Taxes.6% 5.8% 0. General & Administrative Expenses Other Operating Expenses Operating Expenses .5% 17.0% 10.4% 23.0% 0.8% 11.Pretax Extraordinary Charge .5% 0.6% 0.0% 0.2% 30.4% 78.1% 0.Net Earnings before Interest.0% 0.8% 7.802.5% 28.3% 0.5 73.1% 0.2% 82.1% 0.0% 0. Fiscal Year Net Sales or Revenues Cost of Goods Sold Depreciation.9% 0.1% 0.3% 0.2% 9.0% 88.7% 62.0% 0.2% 0.0% 21.1% 76.0 533.194.2% 20.0% 7.0% 0.6% 0.4% 2. Depreciation & Amortization (EBITDA) Earnings before Interest & Taxes (EBIT) Interest Expense on Debt Interest Capitalized Pretax Income Income Taxes Minority Interest Equity in Earnings After Tax Other Income/Expense 2011 1.9% 0.0% 0.3% 6.8% 2.0% 0.0% 0.0% -1.8% 0.6% 61.0% 0.0% 3.0% 30.

7% 0.2% Copyright ©2000-2012 Distributed by Wright Investors' Service.0% 7. stored in a retrieval system.0% 7. .1% 5.1% 0. no pages on this site may be reproduced.7% 0. photocopying.available to Common 0.2% 0.9% 0.0% 0. mechanical.2% 0.2% 0. electronic. Inc.0% 7.9% 3. but accuracy.0% 0.0% 10. in any form or by any means.Discontinued Operations Net Income before Extraordinary Items/Preferred Dividends Extraordinary Items & Gain/Loss Sale of Assets Preferred Dividend Requirements Net Income after Preferred Dividends . completeness and opinions are not guaranteed. All Rights Reserved.0% 5. recording. Except for quotations by established news media.0% 10. or otherwise without prior written permission.0% 7.0% 3. Information is believed reliable. or transmitted for commercial purposes.0% 0.0% 0.0% 0.

5% 96.1% 654.9% 45.9% 35.1% 2007 49.1% 2009 9.9% 7.5% 0.Total Operating Income Extraordinary Credit . Taxes.7% 59.Year-Year % Change Income Statement .4% 298. Depletion & Amortization Gross Income Selling.3% 29.7% 30.8% 2010 32.2% 1.6% 138.2% 104.3% -0.1% -46.3% 80.3% 21.3% 30.6% 67.1% 15.478.9% 79.3% 151. General & Administrative Expenses Other Operating Expenses Operating Expenses .Increase/Decrease Pretax Equity in Earnings Other Income/Expense .2% 20.8% 24.3% 111.(Year to Year Percent Change): PT Tiga Pilar Sejahtera Food Terbuka Figures are the Percent Changes from the Prior Year.2% 17.5% 20.7% -15.0% 180.8% -5.6% 93.8% 13.9% 44.4% 45.0% 264.8% -1.8% -203.4% -86.3% 61.0% 2008 -2. Depreciation & Amortization (EBITDA) Earnings before Interest & Taxes(EBIT) Interest Expense on Debt Interest Capitalized Pretax Income Income Taxes Minority Interest Equity in Earnings After Tax Other Income/Expense Discontinued Operations 2011 148.1% 46.3% 878.7% -3.6% 157.6% 0.2% 46.5% 13.7% .0% 733.0% 104.Pretax Extraordinary Charge .1% 311.5% 191.2% -93.3% 19.6% 400.9% 447.6% 134.9% -1.9% -35.6% 102.5% 128.1% 33.7% 74.Pretax Non-Operating Interest Income Reserves .8% 10.591.5% -50.0% 82.5% 195.4% -37.7% 18. Fiscal Year Net Sales or Revenues Cost of Goods Sold Depreciation.5% 11.5% 97.9% -23.Net Earnings before Interest.0% 32.Financial Statement Analyses\Income Statement .3% -6.7% 67.

Net Income before Extraordinary Items/Preferred Dividends Extraordinary Items & Gain/Loss Sale of Assets Preferred Dividend Requirements Net Income after Preferred Dividends available to Common 68.1% 31.7% 82. or otherwise without prior written permission. Information is believed reliable. in any form or by any means.7% 99. no pages on this site may be reproduced.0% 12. stored in a retrieval system.022.9% Copyright ©2000-2012 Distributed by Wright Investors' Service.022. completeness and opinions are not guaranteed. Except for quotations by established news media.0% 12.7% 82. photocopying. or transmitted for commercial purposes. . electronic.1% 31. but accuracy.9% 68. recording. All Rights Reserved. mechanical.7% 99. Inc.

2 35.2 5.1 0.7 1.8 351.0 25.2 196.2 85.0 940.607.5 291.0 0.6 305.0 0.172.465.181. General & Administrative Expenses Other Operating Expenses Operating Expenses .373.024.5 93.0 0.563.5 30.802.890.4 3.362.539.Five-Year Averages Income Statement .4 259.1 53.4 66.129.823.7 512.424.0 1.108.131.182.1 53.2 857.2 80.1 0.763.839.0 10.0 0.2 426.587.8 31.0 139.0 96.9 43.375.034.577.231.604.974.4 50.1 0.814.9 21.6 150.4 0.0 15.0 0.834. Fiscal Year Net Sales or Revenues Cost of Goods Sold Depreciation.059.0 0.4 345.996.0 10.Pretax Extraordinary Charge .252.702.9 356.0 0.832.6 0.5 65.7 32.8 293.0 0.299.946.643.421.0 1.4 656.6 9.5 1.788.Total Operating Income Extraordinary Credit .0 0.3 0.4 260.7 72.8 121.9 40.554.1 782.2 6.4 141.0 1.831.829.6 1.1 26.0 52. Depletion & Amortization Gross Income Selling.751.6 23.5 28.729.394.729.3 51.429.1 630.132.0 0.Increase/Decrease Pretax Equity in Earnings Other Income/Expense .4 0.Net Earnings before Interest.6 18.3 417.590.0 222.6 3.236.043.355.0 .4 16.5 0.9 18.910.9 71.(5 Year Averages): PT Tiga Pilar Sejahtera Food Terbuka Figures in millions of Indonesian Rupiahs.882.569.0 -1.0 0.Pretax Non-Operating Interest Income Reserves .051.5 0.932.0 -1.1 0.1 3.0 71.635.0 0.003.259.893.3 31.Financial Statement Analyses\Income Statement .0 202.7 47.0 15.488.5 0.3 0.406.216.210.262.041.476.538. Depreciation & Amortization (EBITDA) Earnings before Interest & Taxes (EBIT) Interest Expense on Debt Interest Capitalized Pretax Income Income Taxes Minority Interest Equity in Earnings 2011 2010 2009 2008 2007 796.1 547.5 44.1 968.068.0 -3.8 96.0 0. Taxes.4 49.585.966.634.

photocopying.874.0 31. . mechanical.5 0. but accuracy.5 8.available to Common -1.3 16.519.7 Copyright ©2000-2012 Distributed by Wright Investors' Service.0 56.940.510. stored in a retrieval system.479.0 -1. All Rights Reserved.1 0.0 -1.0 0. recording. Inc. no pages on this site may be reproduced.519.510.7 0.3 0.940. completeness and opinions are not guaranteed. or transmitted for commercial purposes.0 0. electronic.0 -1.5 31.5 0.0 0.754.754.0 0.0 16.1 1. Except for quotations by established news media.0 0.After Tax Other Income/Expense Discontinued Operations Net Income before Extraordinary Items/Preferred Dividends Extraordinary Items & Gain/Loss Sale of Assets Preferred Dividend Requirements Net Income after Preferred Dividends .0 8.754.874.754.0 56.0 1.479. or otherwise without prior written permission. Information is believed reliable. in any form or by any means.0 0.

266.535.512.1% -8.0% 35.0% -1.0 208.368.0% 192.8 1.6% 50.0 1.1% .222.0% -76.0% -20.0 7.4 42.971.0% 0.2 26.239.1% 65.0 644.7 27.1 0.6 3.9% -8.6% 100.9 146.0 1.4% 0.576.0% 18.0% 29.Net Change Sources of Capital: PT Tiga Pilar Sejahtera Food Terbuka 2011 2010 2009 2008 2007 Currency figures are in millions of Indonesian Rupiahs.0 966.9 0.0 82.2% 70.5% 1.5% 17.8 14.292.1% 0. Year to year % changes pertain to reported Balance Sheet values.8 29.2 10.0% -9.860.3 28.568. Fiscal Year Fiscal Year End Date Total Capital Percent of Total Capital Short Term Debt Long Term Debt Other Liabilities Total Liabilities Minority Interest Preferred Stock Retained Earnings Common Equity Total Capital Year to Year Net Changes Short Term Debt Long Term Debt Other Liabilities Total Liabilities Minority Interest Preferred Stock Retained Earnings Common Equity Total Capital Year to Year Percent Changes Short Term Debt Long Term Debt 12/31/2011 12/31/2010 12/31/2009 12/31/2008 12/31/2007 2.024.9 -0.0 2.0% 35.124.394.2% 97.1 22.778.405.191.3% 100.9% 2.6 32.2 41.6% 39.1% 55.9 -21.0 50.090.0 1.0% 0.839.150.579.980.388.4% 111.8% 112.5% 48.2% 0.587.5 0.6% 37.1% 31.1 3.9 119.1 -61.0 22.1 43.Financial Statement Analyses\Sources of Capital .2 0.9 122.0% 47.307.8% 52.362.0 3.7% 11.868.778.3% 100.3% 159.5 14.7% 100.1% 0.0% 96.9 8.660.0 13.582.732.869.0 6.589.4% 60.251.546.7% 44.6 29.0 4.5% 53.5% 50.0 0.1% 0.1 15.857.0% 0.0 -860.9% 0.5% 46.1% 95.1% 100.576.0 -2.8 21.4% 66.2% 0.1 22.515.9 0.031.0 716.9% 0.6% 0.

978.0 -67.075.5% 1.0 71.9% 252.6% 16. Inc.0 44.Other Liabilities Total Liabilities Minority Interest Preferred Stock Retained Earnings Common Equity Total Capital Total Liabilities & Common Equity Total Liabilities Net Change in Liabilities as % of Total Liabilities Common Equity Net Change in Common Equity as % of Common Equity Cash Flow Operating Activities Financing Activities Investing Activities -99.7% 110.2% 123. stored in a retrieval system.0 1. Except for quotations by established news media.0 67.0 25.8 119.7% 7.8 14.3% 50.442.9% 428.2% 30.0 252.6% 1.741.656.273. no pages on this site may be reproduced. mechanical.763.1% 208. .8% 307.8% 625.2% -0.0% 3.572.3% 34.774. photocopying.8 Copyright ©2000-2012 Distributed by Wright Investors' Service.8% 9.0 33.634.340.0 35.0 8.6% 46.320.0 23. completeness and opinions are not guaranteed. Information is believed reliable.4% 23.0 611.5% 390.902.391.728.1 75.145.753.0% 1.1% 225.851.0 237.156.2% -25.594.6% 403. in any form or by any means.0 1.573. recording.6% 917.6% 3.3% 9.726.639.649.944.5% 575.9% 46.0 181.8% -47.0 15.9% 31. or transmitted for commercial purposes.0 640.7% 49.453. but accuracy.553. electronic.220.0 124. or otherwise without prior written permission.990.168.6% 31.462.5% 55.0 31.0 803.8% 208.8 33. All Rights Reserved.300.

4 2.4% 7. Plant & Equipment Turnover Net Property. no pages on this site may be reproduced.3 0.2 51.9 4.6 0.Number of Days Gross Property.4 1. Depletion & Amortization Year to Year % Change 3.5% 80.2 0.0 1.7 66. Except for quotations by established news media.8 5.3 -35. stored in a retrieval system. but accuracy.3 1. electronic.0 1. mechanical.250.182. All Rights Reserved.8 61.3% 82.3 79. Plant & Equipment Turnover Depreciation.7% 0.6 0. Information is believed reliable. or otherwise without prior written permission. photocopying.9 191.Financial Ratio AnalysesFinancial Ratio Analyses\Accounting Ratios Accounting Ratios: PT Fiscal Year Fiscal Year End Date Receivables Turnover Receivables .6 7.4 0. Depletion & Amortization Year to Year Change Depreciation.8 Inventory .7 1. Depletion & Amortization % of Gross Property.076.1 317.4 259.7 6.3 1. in any form or by any means.6 1.7 78. Plant & Equipment Depreciation.3 4.6 1.3% Copyright ©2000-2012 Distributed by Wright Investors' Service.2% 30.8 131.6 0.7 4. .6% -3.Number of Days Inventory Turnover Tiga Pilar Sejahtera Food Terbuka 2011 2010 2009 2008 2007 12/31/2011 12/31/2010 12/31/2009 12/31/2008 12/31/2007 3.6% 4. or transmitted for commercial purposes. completeness and opinions are not guaranteed.7 3.765.3% 5. Inc. recording.6% 5.3 85.8 1.

Plant & Equipment .8% 0.1% 6.9% 1.2% 50.0% 0.5% 0.5% 2.0% 489.1% 4.1% 68.6% 252. Net Sales are in millions of Indonesian Rupiahs.5% 0.0% 98.4% 21.1% 41.0% 99.4% 6.Gross Accumulated Depreciation Property Plant & Equipment Net Other Assets Total Assets 12/31/2011 12/31/2010 12/31/2009 12/31/2008 12/31/2007 1.0% 75. photocopying.3% 21.9% 45.1% 0.9% 1.752.8% 77.1% 25.3% 27.4% 0. mechanical. no pages on this site may be reproduced. Inc.5% 0.8% 533. in any form or by any means.0% 0.7% 25. Information is believed reliable. or otherwise without prior written permission.9% Copyright ©2000-2012 Distributed by Wright Investors' Service.870.0% 0.1% 0.172.0% 133.0 45.0% 0. All Rights Reserved.6% 2.0% 499.9% 207.6% 45.8% 129.0% 174.0% 23.0% 171.5% 0. electronic. stored in a retrieval system.0 5.0% 0.6% 139. or transmitted for commercial purposes.0% 178.5 5.8% 0. completeness and opinions are not guaranteed. Fiscal Year Fiscal Year End Date Net Sales Cash & Cash Equivalents Short-Term Investments Accounts Receivable Inventories Other Current Assets Total Current Assets Total Long Term Receivables & Investments Long Term Receivables Investments in Associated Companies Other Investments Property. recording.1% 0.Financial Ratio Analyses\Asset Utilization Asset Utilization: PT Tiga Pilar Sejahtera Food Terbuka 2011 2010 2009 2008 2007 Figures are expressed as the ratio of Net Sales.1% 1.194.9% 66.5% 41.0% 94.5% 55.9% 11.7% 0.3% 41.2% 0.7% 0.9% 204.0% 81.0 2.802.3% 273. but accuracy.7% 20.0% 0.8% 16.4% 27.8% 17.8% 102.0 3.5% 34. Except for quotations by established news media. .220.5% 2.6% 705.9% 39.6% 0.

8% 144. but accuracy.904.549.427 81.291.9% 85.481 -20.052 8.059 851.2% -49. no pages on this site may be reproduced. Except for quotations by established news media.8% 6.0% 75.640.331.414 -37.439.7% -572.9% 56.6% Copyright ©2000-2012 Distributed by Wright Investors' Service.494.629.1% -557.177.616 107.873.699.774 -12. 2011 12/31/2011 2. completeness and opinions are not guaranteed.243 13.833.284.974 699.610 8.006. photocopying. Information is believed reliable.415 395.063 2007 12/31/2007 1.983.3% 14.104 41.943 502.7% 40. stored in a retrieval system.2% 48.7% 16.118. Inc.428.6% 7. recording.239.698.993 16.004 61.745 33.816 2009 12/31/2009 1.977. or otherwise without prior written permission.588 1.288. All Rights Reserved.254.4% 60.6% 42.938 Values per Employee are in Indonesian Rupiahs.9% 63. electronic.618.342. .0% -29.062.589 564.4% -8.9% -6.8% 96.820 257.634.1% 71.038.369 777.337.953 23.5% 37.013 265. in any form or by any means.484 -38.7% 21.4% 119.970 154.931. or transmitted for commercial purposes.247 1.7% 51.131.925 2008 12/31/2008 2.583. mechanical.340.1% 386.234 312.7% 32.117 1.619.9% 189.948 271.977 388.159 425.810.740 492.702.6% -16.143 13.117 656.Financial Ratio Analyses\Employee Efficiency Employee Efficiency: PT Fiscal Year Fiscal Year End Date Employees Values per Employee Sales Net Income Cash Earnings Working Capital Total Debt Total Capital Total Assets Year to Year % Change per Employee Employees Sales Net Income Cash Earnings Working Capital Total Debt Total Capital Total Assets Tiga Pilar Sejahtera Food Terbuka 2010 12/31/2010 1.8% 30.896 237.004 276.116.632.741.8% -5.932.2% 9.8% 41.859 19.2% 111.3% 23.

8 2.7 2.1 2.8 3.8 2. Information is believed reliable.6 2.6 1. mechanical. Except for quotations by established news media.8 2. no pages on this site may be reproduced. .2 2. but accuracy. photocopying.9 2.6 1.1 2.1 3.7 2.7 2.4 2.2 Copyright ©2000-2012 Distributed by Wright Investors' Service.8 2.9 1.1 1. completeness and opinions are not guaranteed.1 2.1 3. or transmitted for commercial purposes.4 2. Inc.0 2.3 2.0 2.4 2. recording. All Rights Reserved. or otherwise without prior written permission. stored in a retrieval system.Financial Ratio Analyses\Fixed Charges Coverage Fixed Charges Coverage: PT Fiscal Year Fiscal Year End Date EBIT/Total Interest Expense EBIT/Net Interest EBIT/(Total Interest Exp + Pfd Div) EBIT/Dividends on Common Shares EBIT/(Dividends on Common + Pfd) EBITDA/Total Interest Expense EBITDA/Net Interest EBITDA/(Total Interest Exp + Pfd Div) EBITDA/Dividends on Com Shares EBITDA/(Dividends on Com + Pfd) Tiga Pilar Sejahtera Food Terbuka 2011 2010 2009 2008 2007 12/31/2011 12/31/2010 12/31/2009 12/31/2008 12/31/2007 2.9 2. electronic.0 1.9 1. in any form or by any means.

1% 63.2% 0.5% 565.0% 0.3% 19.5% 0.1% 55.0% 46.3% 375.5% 412.4% 65.6% 2.3% 0.5% 104.2% 176.2% 143.0% 0.0% 0.0% 0.0% 535.1% 31.2% 46.2% 0.2% 0.6% 0.7% 60.8% 84.0% 0.4% 23.2% 87.4% 442.0% 0.0% 478.5% 728.1% 0.0% 0.6% 191.0% 0.2% 44.0% 0.0% 0.0% 0.9% 5.1% 0.3% 390.0% 39.1% 0.5% 178.1% 86.0% 58.9% 55.0% 0.1% 0.1% 0.0% 0.3% 39.1% 0.6% 220.1% 1.5% 25.3% 0.6% 501.4% 0.6% 125.0% 242.0% 190.2% 2.2% 3.Financial Ratio Analyses\Leverage Analysis Leverage Analysis: PT Fiscal Year Fiscal Year End Date Tiga Pilar Sejahtera Food Terbuka 2011 2010 2009 2008 2007 12/31/2011 12/31/2010 12/31/2009 12/31/2008 12/31/2007 273.0% 0.7% 60.1% 7.1% 58.9% 270.7% 134.0% Long Term Debt % of EBIT Long Term Debt % of EBITDA Long Term Debt % of Total Assets Long Term Debt % of Total Capital Long Term Debt % of Com Equity Total Debt % of EBIT Total Debt % of EBITDA Total Debt % of Total Assets Total Debt % of Total Capital Total Debt % of Total Capital & Short Term Debt Total Debt % of Common Equity Minority Interest % of EBIT Minority Interest % of EBITDA Minority Interest % of Total Assets Minority Interest % of Total Capital Minority Interest % of Com Equity Preferred Stock % of EBIT Preferred Stock % of EDITDA Preferred Stock % of Total Assets .0% 0.3% 16.0% 331.6% 90.6% 53.0% 228.7% 19.1% 46.3% 583.3% 329.3% 72.4% 0.6% 528.2% 50.9% 143.9% 88.7% 1.7% 65.3% 0.3% 31.

0% 161.7% 30.0% 0. All Rights Reserved.6% 63. Inc.8% 3.6% 24.6% 0. or otherwise without prior written permission.7% 74.4% 62.0% 29.0% 0.9% 0.8% 0.6% 0.0% 38.0% -6.4% 60.5% 66.6% 53.8% 164.1% 40. or transmitted for commercial purposes.8% 44.2% 22.0% 248. Except for quotations by established news media. photocopying.0% 12. in any form or by any means.Preferred Stock % of Total Capital Preferred Stock % of Total Equity Common Equity % of Total Assets Common Equity % of Total Capital Total Capital % of Total Assets Capital Expenditure % of Sales Fixed Assets % of Common Equity Working Capital % of Total Capital Dividend Payout Funds From Operations % of Total Debt 0.3% 76.6% 0.0% 49.0% 0. . electronic.0% 21. but accuracy. Information is believed reliable.0% 6.2% 6.0% 14.6% 0.2% -6.0% 0. completeness and opinions are not guaranteed. recording.0% 175.0% 31.3% 71.0% 0.8% 48.5% 0.7% 1.3% 61.9% Copyright ©2000-2012 Distributed by Wright Investors' Service. no pages on this site may be reproduced.4% -35. stored in a retrieval system.0% 1.4% 0. mechanical.0% 0.0% -1.

8% 45.3 27.2 48.6% -2.4% 78.4 27.4 61.4 35.1 13.4 15.2% 1.0% 61.6% 14.5% 259.2% 85.number of days Inventory to Cash & Equivalents .0 -67.0% 4.1% -1.6 63.8% 51.3% 0.0 8.9% 9.2% 2.741.594.8% 1.4 25.8 659.5% 131.0% 5.4 33.5% 79.3% 4.8% 317.6% 66.1 .9 46.7% 81.0 44.9% 1.6% -5.4% 0.2% 8.9% 1.8% 0.7 72.9 48.5% -13.0% 94.5% 35.3 63.number of days Receivables % of Total Assets Current Ratio Total Debt % of Total Capital Funds from Operations % of Current Liabilities Funds from Operations % of Long Term Debt Funds from Operations % of Total Debt Funds from Operations % of Total Capital Cash Flow (in milllions of Indonesian Rupiahs) Operating Activities -25.3% 0.0% 46.2% 13.2 65.1% -11.3% -6.5% 66.8% -3.2% 45.4% 2.9% 21.6% 1.6 10.3 24.3% 0.2% 191.5% 4.4% Total Current Assets % Net Sales Cash % of Current Assets Cash & Equivalents % of Current Assets Quick Ratio Receivables % of Current Assets Receivable Turnover number of days Inventories % of Current Assets Inventory Turnover .4% 0.726.9 58.5 8.8 72.6 84.0 15.6% 4.3 26.4% 1.7% 0.2% 6.Financial Ratio Analyses\Liquidity Analysis Liquidity Analysis: PT Fiscal Year Fiscal Year End Date Tiga Pilar Sejahtera Food Terbuka 2011 2010 2009 2008 2007 12/31/2011 12/31/2010 12/31/2009 12/31/2008 12/31/2007 98.4 11.649.9% 14.990.6% -1.3% 2.0 33.8% 11.

320. Inc.0 181.Financing Activities Investing Activities 1.728.0 611.0 75.0 640. Information is believed reliable.978. . or transmitted for commercial purposes. completeness and opinions are not guaranteed.075. Except for quotations by established news media. All Rights Reserved. no pages on this site may be reproduced.553.572. or otherwise without prior written permission.8 119.851.0 124.0 252. recording. stored in a retrieval system.0 803.634. mechanical.0 237. photocopying. in any form or by any means.145. electronic.8 Copyright ©2000-2012 Distributed by Wright Investors' Service. but accuracy.453.573.

66 23.22 0.18 314. . Fiscal Year Fiscal Year End Date Sales Operating Income Pre-tax Income Net Income (Continuing Operations) Net Income Before Extra Items Extraordinary Items Net Income After Extraordinary Items Net Income Available to Common Shares Fully Diluted Earnings Common Dividends Cash Earnings Book Value Retained Earnings Assets 12/31/2011 12/31/2010 12/31/2009 12/31/2008 12/31/2007 599.26 15.14 43. recording.22 74.14 0.29 385.14 41.67 28. no pages on this site may be reproduced.63 69.36 425.00 9.97 413.58 41. or otherwise without prior written permission.19 16.49 61. stored in a retrieval system.30 0. mechanical. completeness and opinions are not guaranteed.69 18.56 57.45 167.62 -71.68 267. Inc.47 0.57 20.81 13.00 -37.98 234.Financial Ratio Analyses\Per-Share Ratios Per Share Data: PT Tiga Pilar Sejahtera Food Terbuka 2011 2010 2009 2008 2007 Figures are expressed as per unit of respective shares.00 -15.77 555. All Rights Reserved.11 51. or transmitted for commercial purposes.56 1.44 15.00 21. photocopying.57 20. in any form or by any means.82 -132. Except for quotations by established news media.225.84 -9.40 63.24 0.14 0.95 91.055.00 43.69 13.30 213.37 74. Information is believed reliable.11 736.50 41.04 13. electronic. but accuracy.04 101.00 36.96 21.66 15.28 -51.78 28.37 41.04 11.61 Copyright ©2000-2012 Distributed by Wright Investors' Service.90 1.14 41. Figures are in Indonesian Rupiahs.05 606.04 291.69 46.

9% 0.4 178.8% 1.2% 10.3% 7.7% -9.8% 13.Total Return on Invested Capital Return on Assets Asset Turnover Financial Leverage Interest Expense on Debt Effective Tax Rate Cash Flow % Sales Selling.000.5 143.3% 3.8% 10.1% 9.801.470.1% 11.8% 2007 12/31/2007 17.3% 7.4 191.000 59.2% 15.3% 9.5% 0.207.2% 2008 12/31/2008 30.0% 127.000 51.4% 8.536.1% 0.9% 11.1% 6.9% 19.000 87.290 19.6% 17.0% 29.352.000 32.6% 9.000.4% 7.0% -1.2% 6.000.000.7% 2009 12/31/2009 28.0 270.5 90.9% 7.9% 17.8% 21.1% 8.6% 11.6% 16.Financial Ratio Analyses\Profitability Growth Profitability Analysis: PT Fiscal Year Fiscal Year End Date Gross Income Margin Operating Income Margin Pretax Income Margin EBIT Margin Net Income Margin Return on Equity .8% 23.4% 5.4% 25.6% 8. General & Administrative Expenses % of Sales 2011 Tiga Pilar Sejahtera Food Terbuka 2010 12/31/2010 25.9% 3.0% .9% 5.0% 9.6% 27.1% 7.7% 10.928.1% 0.2% 10.2% 10.4% 3.7% 15.3% Currency figures are in Indonesian Rupiahs.3% 8.8% 10.9% 16.5% 15.4% 9.8% 21.7% 6.7% 8. 12/31/2011 23.

All Rights Reserved. Information is believed reliable. or transmitted for commercial purposes. Except for quotations by established news media. or otherwise without prior written permission.6% 3. in any form or by any means. completeness and opinions are not guaranteed. but accuracy. recording. stored in a retrieval system. no pages on this site may be reproduced.3% 23. .9% 208.Research & Development Expense Operating Income Return On Total Capital 123. electronic. Inc.3% 49. mechanical. photocopying.5% Copyright ©2000-2012 Distributed by Wright Investors' Service.

5% Copyright ©2000-2012 Distributed by Wright Investors' Service.Three Year Average . Dollars.Current Year Turnover Rate . Information is believed reliable. recording.Wright Quality Rating AnalysesWright Quality Rating Analyses\Investment Acceptance Wright Quality Rating . mechanical.Investment Acceptance: PT Tiga Pilar Sejahtera Food Terbuka Currency figures are in millions of U. All Rights Reserved.0% JAK 0 Investment Acceptance Rating Total Market Value of Shares Outstanding . stored in a retrieval system. Wright Quality Rating DBNN DBNN 169 180 87 93 0 0 0.Current Year Trading Volume .Three Year Average . in any form or by any means.Three Year Average .Current Year Stock Exchange Listings Number of Institutional Investors Number of Shareholders Closely Held Shares as % of Total Shares Outstanding 48. Inc. or transmitted for commercial purposes.Current Year Public Market Value (Excludes Closely Held) . . or otherwise without prior written permission. but accuracy. completeness and opinions are not guaranteed.Three Year Average .0% 0. Except for quotations by established news media. electronic. photocopying.S. no pages on this site may be reproduced.

in any form or by any means.273 2. completeness and opinions are not guaranteed.Financial Strength: PT Tiga Pilar Sejahtera Food D D Terbuka Wright Quality Rating Financial Strength Rating Total Shareholders' Equity (Millions of U. mechanical.5 2. electronic. Inc. Except for quotations by established news media. .4 1.540 46. recording. no pages on this site may be reproduced. or transmitted for commercial purposes.Wright Quality Rating Analyses\Financial Strength Wright Quality Rating . All Rights Reserved.2% 827. but accuracy. Dollars) Total Shareholders' Equity as % Total Capital Preferred Stock as % of Total Capital Long Term Debt as % of Total Capital Long Term Debt (Millions of Indonesian Rupiahs) Lease Obligations (Millions of Indonesian Rupiahs) Long Term Debt including Leases (Millions of Indonesian Rupiahs) Total Debt as % of Total Capital Fixed Charge Coverage Ratio: Pretax Income to Interest Expense & Preferred Dividends Fixed Charge Coverage Ratio: Pretax Income to Net Interest Income & Preferred Dividends Quick Ratio (Cash & Receivables / Current Liabilities) Current Ratio (Current Assets / Current Liabilities) BNN BNN 195 66.S.0% 31.9 Copyright ©2000-2012 Distributed by Wright Investors' Service.5 1. or otherwise without prior written permission.6% 2. Information is believed reliable. stored in a retrieval system.267 829. photocopying.7% 0.

but accuracy.5% 24. or otherwise without prior written permission. electronic. Inc. or transmitted for commercial purposes.9% 4.Wright Quality Rating Analyses\Profitability & Stability Wright Quality Rating . Information is believed reliable. .7% 4. mechanical.7% Copyright ©2000-2012 Distributed by Wright Investors' Service.Time-Weighted Average . stored in a retrieval system. Except for quotations by established news media.1% 4.Time-Weighted Normal . All Rights Reserved.0% -4.Basic Trend Cash Earnings Return on Equity .5% 24.9% 14.0% 11.Basic Trend Cash Earnings Return on Equity . no pages on this site may be reproduced.1% 8. recording.Profitability & Stability: PT Tiga Pilar Sejahtera Food DB DB Terbuka Wright Quality Rating Profitability & Stability Rating Profit Rate of Earnings on Equity Capital . in any form or by any means.1% 8.Stability Index Return On Assets (Time-Weighted Average) Pre-Tax Income as % of Total Assets (Time-Weighted Average) Operating Income as % of Total Assets (Time-Weighted Average) Operating Income as % of Total Capital (Adjusted Rate) Pre-Tax Income as % of Total Assets (Time-Weighted Average) Operating Income as % of Total Assets (Time-Weighted Average) Operating Income as % of Total Capital (Adjusted Rate) NN NN 2. photocopying.0% 12. completeness and opinions are not guaranteed.

Information is believed reliable. Wright Quality Rating Growth Rating Normal Earnings Growth Cash Earnings Growth Cash Earnings Stability Index Earned Equity Growth Dividend Growth Operating Income Growth Assets Growth Sales/Revenues Growth DBN DBN N N 20.0% -25.0% 0. mechanical. electronic.0% 18. but accuracy. completeness and opinions are not guaranteed. . stored in a retrieval system.0% 25. Except for quotations by established news media. Inc.0% 25.Wright Quality Rating Analyses\Corporate Growth Wright Quality Rating . no pages on this site may be reproduced.0% Copyright ©2000-2012 Distributed by Wright Investors' Service. in any form or by any means.0% 23. recording. All Rights Reserved. or transmitted for commercial purposes. photocopying.5% 14. or otherwise without prior written permission.Corporate Growth: PT Tiga Pilar Sejahtera Food Terbuka Figures are expressed on a Per Share Basis.

Sign up to vote on this title
UsefulNot useful