Financial Highlights (Based on IFAS)
|Consolidated Statements of Financial Position|
|(in billion Rupiah)||As of December 31,|
|Total Current Assets||15,978||14,622||16,095||18,729||21,258|
|Total Non- Current Assets||66,078||76,634||81,836||81,772||81,796|
|Total Current Liabilities||21,018||27,218||26,892||20,473||22,189|
|Total Non-Current Liabilities||18,441||20,444||21,5444||23,613||19,884|
|Equity Attributable to Owners of the Parent||33,292||33,910||38,562||44,419||47,510|
|Net Working Capital||(5,040)||(12,596)||(10,797)||(1,744)||(931)|
|Consolidated Statements of Comprehensive Income (in billions of Rupiah, except for Income per Share and Income per ADS|
|Year ended December 31,|
|Total Finance Costs-Net||(1,042)||(969)||(1,634)||(1,507)||(1,091)|
|PROFIT BEFORE INCOME TAX||25.869||20,399||22,447||21,416||20,857|
|Income Tax (Expense) Benefit||(8,015)||(5,674)||(6,404)||(5,546)||(5,387)|
|PROFIT FOR THE YEAR||17,854||14,725||16,043||15,870||15,470|
|Profit for the year attributable to :|
|Owner of the parent||13,043||10,672||11,399||11,537||10,965|
|Income per share of Common Stock||653,40||540,38||579,52||586,54||559,67|
|Income per ADS (40:1 Common Stock: ADS)||26,135.70||21,615.20||23,180.80||23,461.60||22,386.80|
|Consolidated Financial and Operational Ratios|
|Year ended December 31,|
|Return on Asset (ROA) (%)1||15.9||11.7||11.6||11.5||10.6|
|Return on Equity (ROE) (%)2||39.2||31.5||29.6||26.0||23.1|
|Current Ratio (%)3||76.0||53.7||59.9||91.5||95.8|
|Total Liabilities to Total Assets (%)4||48.1||52.2||49.5||43.9||40.8|
|Total Liabilities to Equity (%)5||118.5||140.6||125.6||99.3||88.6|
|Profit Margin (%)6||42.5||32.9||35.3||33.1||30.5|
|Average Collection Period (day)7||19.4||19.7||19.8||22.9||24.9|
|Adjusted EBITDA Margin (%)8||59.3||51.9||55.8||54.3||51.2|
|Net Income Margin (%)9||20.6||16.4||16.7||16.7||15.2|
|Debt to Equity (%)10||47.4||58.2||56.7||48.2||36.5|
|Debt to Adjusted EBITDA (%)11||42.0||58.6||57.5||57.0||47.2|
|Adjusted EBITDA to Interest Expense (times)12||24.0||20.5||18.2||19.5||22.5|
|Adjusted EBITDA to Net Debt (%)13||686.1||268.6||278.4||316.0||499.6|
|PRODUCTIVITY RATIOS :|
|Total Revenue/Employee (in billions of Rupiah)||1.9||2.2||2.4||2.6||2.8|
- ROA represents profit for the year attributable to owners of the parent divided by total assets as of December 31 of that year.
- ROE represents profit for the year attributable to owners of the parent divided by equity attributable to owners of the parent as of December 31 of that year.
- Current ratio represents current assets divided by current liabilities as of December 31 of that year.
- Total liabilities to total assets represent total liabilities divided by total assets as of December 31 of that year.
- Total liabilities to equity represent total liabilities divided by equity attributable to owners of the parent as of December 31 of that year.
- Profit margin represents profit divided by total revenues.
- Average collection period represents trade receivables divided by total revenues times 365 days.
- Adjusted EBITDA margin represents adjusted EBITDA divided by total revenues.
- Net income margin represents profit for the year attributable to owners of the parent divided by total revenues.
- Debt to equity represents total debt exclude obligation under finance lease divided by equity attributable to owner of the parent as of December 31 of that year.
- Debt to adjusted EBITDA represents debt exclude obligation under finance lease divided by adjusted EBITDA.
- Adjusted EBITDA to interest expense represents adjusted EBITDA divided by interest expense.
- Adjusted EBITDA to net debt represents adjusted EBITDA divided by total debt exclude obligation under finance lease minus cash and cash equivalents, available for sale financial assets and escrow accounts as of December 31 of that year.
- LIS per employee represents fixed wireline and fixed wireless subscribers divided by total TELKOM’s employees as a parent company.
*) Reclassified, refer to Note 2a and 47 to our Consolidated Financial Statements.
|Reconciliation of Profit to Adjusted EBITDA||Year ended December 31,|
|(in billions of Rupiah)||2007*||2008*||2009*||2010||2011|
**) Adjusted EBITDA is defined as profit before depreciation and amortization (including impairment loss). Adjusted EBITDA and the related ratios presented in this Annual Report are supplemental measure of our performance and liquidity that are not required by, or presented in accordance with, IFAS. Adjusted EBITDA is not a measurement of our performance under IFAS and should not be considered as alternative to net profit or any other performance measures derived in accordance with IFAS or as alternative to cash flow from operating activities as a measure of our liquidity. We consider adjusted EBITDA to be a useful measure of our operating performance because it reflects the underlying operating cash cost by eliminating depreciation and amortization. The methods we use to calculate adjusted EBITDA may differ from the use of the term EBITDA or adjusted EBITDA by other companies. The following table shows the reconciliation of our profit to our adjusted EBITDA.
|Year ended December 31,|
|Customer base (in thousands)||8,685||8,630||8,377||8,303||8,602|
|Subscriber pulse production (in millions of pulse)*||75,451||62,940||54,186||9,403||8,054|
|*) in millions of minutes for year ended December 31,2010 and 2011|
|FIXED WIRELESS (FLEXI)|
|Customer base (in thousands) :|
|ARPU (12 months average-in thousands of Rupiah):|
|Base Transceiver Station /BTS (units)||1,911||4,054||5,543||5,641||5,718|
|Number of cities in service||238||353||370||370||370|
|Base Transceiver Station/BTS (units)||20,858||26,872||30,992||36,557||42,623|
|Network capacity (in millions of subscribers)||50.5||67.3||85.2||98.6||115.9|
|Customer base (in millions of subscribers)||47.9||65.3||81.6||94.0||107.0|
|Prepaid (Kartu As)||22.0||20.3||21.6||35.0||53.5|
|ARPU-blended (in thousands of Rupiah)||80||59||48||42||39|
|Prepaid (Kartu As)||57||37||31||28||24|
|Broadband Internet (Speedy)|
|Customer base (in thousands)||241||645||1,145||1,649||1,789|
|Number of cities in service||88||375||378||431||456|
|Dial-up Internet (TelkomNet Instant):|
|Average accessed subscribers (in thousands)||662||574||448||103||40|
|Subscriber minutes production (in billions)||3.7||2.8||1.5||0.4||0.2|
|Cable and Pay Television (TelkomVision);|
|Customer base (in thousands)||67||210||179||213||1,000|