Dalam Rp '000

2010 2011Sales 1,938,719,002,000.00 3,824,099,116,000.00 laba kotor 611,552,756,000.00 1,407,920,743,000.00 total aset 7,753,456,799,000.00 10,787,265,542,000.00 total ekuitas 4,213,277,284,000.00 5,028,730,867,000.00 net income 241,117,000,000.00 581,041,000,000.00 liability

2010 2011Return on Asset 3.11 5.39 Return on Equity 5.72 11.55 Return on Investment 12.41 15.59 Debt to Equity Ratio 0.52 0.52 Current Ratio 3.00 1.83 Earnings per Share 19.45 28.34 Profit Margin 12.44 15.19

Cash Flow Operasi 2010 2011Penerimaan Kas dari Pelanggan 1,862,492,919.00 3,478,046,628.00 Pembayaran Kas pada Karyawan (130,391,004.00) (196,483,499.00)

(2,424,478,372.00) (2,968,494,469.00)

Kas diperoleh dari Operasi (692,376,457.00) 313,068,660.00 Pembayaran Beban Bunga dan Keuangan (243,611,696.00) (419,078,232.00)Pembayaran Pajak Penghasilan (108,611,539.00) (207,492,876.00)Kas Bersih Diperoleh dari aktivitas operasi (1,044,599,692.00) (313,502,448.00)

Cash Flow Investasi 2010 2011Penjualan saham entitas anak 43,840,169.00 - Penerimaan dividen - - Penerimaan dividen entitas asosiasi - 12,900,000.00 Penerimaan bunga 29,407,357.00 69,489,772.00 Hasil penjualan aset tetap - - Pencairan aset keuangan lainnya - deposito berjan 658,718.00 - Penerimaan piutang kepada pihak berelasi 29,582,293.00 - Penempataan aset keuangan lainnya - investasi s - - Pemberian piutang kepada pihak berelasi (1,001,358.00) (990,677.00)Penjualan investasi saham pada entitas asosiasi 682,000.00 -

Pembayaran Kas pada Pemasok dan untuk beban operasional lainnya

Pembayaran biaya yang ditangguhkan (17,211,614.00) (1,962,712.00)Penempatan investasi saham pada entitas asosiasi (122,299,071.00) - Penempatan aset keuangan lainnya - deposito ber (7,115,315.00) (18,915,660.00)Perolehan entitas anak - bersih (168,683,750.00) (332,674,308.00)Penempatan uang muka investasi saham - - Penambahan rekening dan dibatasi penggunanya - - Perolehan properti investasi - (32,095,041.00)Perolehan aset tetap (278,093,089.00) (948,171,308.00)Kas Bersih digunakan untuk aktivitas investasi (490,233,660.00) (1,252,419,934.00)

Cash Flow Pendanaan 2010 2011Penerimaan dana obligasi - - penerimaan utang bank 854,958,109.00 700,359,625.00 pembayaran utang bank (484,813,117.00) (507,000,000.00)penerimaan utang dari pihak berelasi 21,842,514.00 377,914.00 Penerimaan dana obligasi - 1,200,000,000.00 penjualan sebagian kepemilikan saham entitas ana - -

93,337,437.00 176,276,000.00 Penerimaan dari eksekusi opsi saham karyawan -

2,847,398,300.00 - Pembayaran utang kepada pihak ketiga - -

- pembayaran utang pembelian aset tetap (355,270.00) (510,340.00)pembayaran utang kepada pihak berelasi (26,233,631.00) (17,845,998.00)

- (2,000,000.00)

(225,797,974.00) - Pembayaran lembaga keuangan lainnya - - pembayaran biaya emisi saham (66,873,957.00) - pembayaran biaya emisi obligasi - (11,529,347.00)pembayaran dividen tunai - -

Kas bersih diperoleh dari aktivitas pendanaan 3,013,462,411.00 1,538,127,854.00

Penerimaan setoran modal dan uang muka setoran modal entitas anak dari pemegang saham lainnya

penarikan setoran modal entitas anak dari pemegang saham lainnya

pembayaran kepemilikan saham kepentingan nonpengendali

pembayaran dividen kepada kepentingan nonpengendali

Pengembalian uang muka setoran modal entitas anak kepada pemegang saham sebelumnya

2012 2013 2014 4,689,429,510,000.00 4,901,191,373,000.00 1,165,134,034,000.00 2,084,486,601,000.00 2,354,870,722,000.00 627,845,075,000.00 15,195,642,352,000.00 19,679,908,990,000.00 23,686,158,211,000.00 6,348,903,770,000.00 7,212,683,391,000.00 8,430,000,868,000.00 811,727,000,000.00 851,435,000,000.00 854,936,000,000.00 8,846,738,582,000.00 12,467,225,599,000.00 15,256,157,343,000.00

2012 2013 2014 5.34 4.33 3.61 12.79 11.80 10.14 17.48 14.38 11.83 0.42 0.95 1.01 1.56 1.68 1.83 39.56 41.46 41.72 17.31 17.37 16.14

2012 2013 2014 5,565,478,092.00 6,784,668,348.00 1,673,144,152.00 (278,967,135.00) (394,098,345.00) -

(3,381,530,057.00) (4,000,909,397.00) (1,115,586,466.00)

1,904,980,900.00 2,389,660,606.00 557,557,686.00 (416,278,299.00) (549,853,726.00) (149,508,345.00) (276,604,283.00) (350,758,968.00) (84,175,626.00) 1,212,098,318.00 1,489,047,912.00 323,873,715.00

2012 2013 2014 - - - - - 21,150,000.00 32,500,000.00 174,000,000.00 - 86,339,686.00 122,292,941.00 52,258,233.00 99,536.00 20,099,000.00 7,445.00 8,068,857.00 87,877.00 72,745,450.00 492,229.00 - 234,091,699.00 (370,000.00) (2,621,200.00) - (22,344,339.00) (7,779,439.00) - - - -

(21,572,703.00) (10,567,166.00) (1,315,446.00) - - - (11,671,704.00) (43,622,977.00) (38,021,144.00) (450,878,315.00) (50,810,673.00) - (229,200,000.00) (166,200,347.00) (9,000,000.00) - - (20,874,510.00) (924,270,536.00) (579,995,969.00) (88,446,265.00) (444,540,394.00) (855,344,648.00) (607,833,803.00) (1,977,347,683.00) (1,400,462,601.00) (385,238,341.00)

2012 2013 2014 1,200,000,000.00 1,200,000,000.00 - 131,659,566.00 939,249,743.00 9,451,704.00 (291,480,081.00) (1,151,947,214.00) (107,663,400.00) 1,026,938.00 13,880,468.00 181,463,674.00 - - - - 150,000.00 -

336,263,058.00 300.00 - 297,993.00 - -

(49,401,000.00) - (129,241,647.00) - - (9,380,000.00)

- (99,900.00) (10,049,000.00) (236,731.00) (661,553.00) - (44,167,765.00) (2,666,223.00) -

- (10,100,000.00) -

- - - - (7,940,904.00) - (12,982,284.00) (10,389,768.00) - - - - (123,005,400.00) (123,005,400.00) -

1,147,974,294.00 846,469,549.00 (65,418,669.00)

2010 2011 2012 2013 2014Return on Asset 3.11 5.39 5.34 4.33 3.61 Return on Equity 5.72 11.55 12.79 11.80 10.14 Return on Investment 12.41 15.59 17.48 14.38 11.83

2010 2011 2012 2013 2014 -

2.00

4.00

6.00

8.00

10.00

12.00

14.00

16.00

18.00

20.00

%

2010 2011 2012 2013 2014Debt to Equity Ratio 0.52 0.52 0.42 0.95 1.01 Current Ratio 3.00 1.83 1.56 1.68 1.83

2010 2011 2012 2013 2014 -

0.50

1.00

1.50

2.00

2.50

3.00

3.50

%

2010 2011 2012 2013 2014 -

0.50

1.00

1.50

2.00

2.50

3.00

3.50

%

2010 2011 2012 2013 2014Earnings per Share 19.45 28.34 39.56 41.46 41.72Profit Margin 12.44 15.19 17.31 17.37 16.14

2010 2011 2012 2013 20140

5

10

15

20

25

30

35

40

45

%

2010 2011 2012 2013 20140

5

10

15

20

25

30

35

40

45

%

1 2 32015 2016 2017

Sales 6,500,000,000,000 7,637,500,000,000 8,974,062,500,000rate 10% 10% 10%

IC 20,000,000,000,000

NPV 5909090909090.91 6311983471074.38 6742345980465.81NPV 13,858,572,095,369

0.692928604768442IRR 21%

IC -20,000,000,000,000Period Rate CF

2015 1 12% 35000000000002016 2 12% 65000000000002017 3 12% 76375000000002018 4 12% 89740625000002019 5 12% 10544523437500

NPV

Profitability Index 1.27147032907166

7,637,500,000,000

4 52018 2019

10,544,523,437,500 12,389,815,039,06310% 10%

7202051388224.85 7693100346512.9

Payback PeriodPV -20,000,000,000,000

3,125,000,000,000 -16,500,000,000,0005,181,760,204,082 -10,000,000,000,0005,436,221,642,675 -2,362,500,000,0005,703,178,955,485 6,611,562,500,0005,983,245,779,192 17,156,085,937,500

Month 35,429,406,581,433 Payback Period 3 Tahun 3 Bulan

25,429,406,581,433

8,974,062,500,000 10,544,523,437,500

Discounted Payback Period-20,000,000,000,000-16,875,000,000,000-11,693,239,795,918

-6,257,018,153,243-553,839,197,759

5,429,406,581,4331

4 Tahun 1 Bulan

2010 2011 2012 2013 2014Return on Asset 3.1 5.4 5.3 4.3 3.6Return on Equity 5.7 11.6 12.8 11.8 10.1Return on Investment 12.4 15.6 17.5 14.4 11.8

2010 2011 2012 2013 2014Debt to Equity Ratio 0.5 0.5 0.4 1.0 1.0Current Ratio 3.0 1.8 1.6 1.7 1.8

2010 2011 2012 2013 2014Earnings per Share 19.5 28.3 39.6 41.5 41.7Profit Margin 12.4 15.2 17.3 17.4 16.1

2010 2011 2012 2013 20140.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0

45.0

%

2010 2011 2012 2013 20140.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

18.0

20.0

%

2010 2011 2012 2013 20140.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

%2010 2011 2012 2013 2014

0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0

45.0

%

2015 2016 2017Sales 6,500,000,000,000 7,637,500,000,000 8,974,062,500,000VC 660,433,750,000 776,009,656,250 911,811,346,094FC 5,785,000,000 5,206,500,000 4,628,000,000Deprec 578,500,000 578,500,000 578,500,000EBT 5,833,202,750,000 6,855,705,343,750 8,057,044,653,906Tax 1,166,640,550,000 1,371,141,068,750 1,611,408,930,781NI 4,666,562,200,000 5,484,564,275,000 6,445,635,723,125Deprec 578,500,000 578,500,000 578,500,000OFC 4,667,140,700,000 5,485,142,775,000 6,446,214,223,125

Working CapitalBeginning 1,300,000,000,000 1,527,500,000,000Ending 1,300,000,000,000 1,527,500,000,000 1,794,812,500,000NWC -1,300,000,000,000 -227,500,000,000 -267,312,500,000

NFC 3,367,140,700,000 5,257,642,775,000 6,178,901,723,125

Futurr Cash Flow Payback Period NPV2014 -20,000,000,000,000 -20,000,000,000,0002015 3,367,140,700,000 -16,632,859,300,000 3,061,037,000,0002016 5,257,642,775,000 -11,375,216,525,000 4,345,159,318,1822017 6,178,901,723,125 -5,196,314,801,875 4,642,300,317,9002018 7,261,299,997,172 2,064,985,195,297 4,959,565,601,5112019 8,533,036,979,177 10,598,022,174,474 5,298,344,610,823

Month 11.003 Tahun 11 Bulan 2,306,406,848,416

Profitability Index 1.12

2018 201910,544,523,437,500 12,389,815,039,063

1,071,378,331,660 1,258,869,539,7014,049,500,000 3,471,000,000

578,500,000 578,500,0009,468,517,105,840 11,126,895,999,3621,893,703,421,168 2,225,379,199,8727,574,813,684,672 8,901,516,799,489

578,500,000 578,500,0007,575,392,184,672 8,902,095,299,489

1,794,812,500,000 2,108,904,687,5002,108,904,687,500 2,477,963,007,813-314,092,187,500 -369,058,320,313

7,261,299,997,172 8,533,036,979,177

Disc. Payback Period-20,000,000,000,000

3,061,037,000,000 -16,938,963,000,0004,345,159,318,182 -12,593,803,681,8184,642,300,317,900 -7,951,503,363,9184,959,565,601,511 -2,991,937,762,4075,298,344,610,823 2,306,406,848,416

Month 74 tahun 10 Bulan

IRR

1 2015 3,367,140,700,0002 2016 5,257,642,775,0003 2017 6,178,901,723,1254 2018 7,261,299,997,1725 2019 8,533,036,979,177

IDR 3,006,375,625,000 IDR 4,191,360,630,580 IDR 4,398,020,199,701 IDR 4,614,687,420,924 IDR 4,841,874,342,825

IDR 21,052,318,219,030

-IDR 19,999,999,999,981.70

Rate to salesVC 1.37%FC 0.09% 0.1016052Deprec 10

Tax 20%

Variable Cost 2.64174E+12

rate 10%

-20,000,000,000,000 IRR 13.82%2,958,277,207,1944,058,319,934,6374,190,290,159,9484,326,381,295,0664,466,749,971,539

18,568,384

IDR 2,953,632,192,982 IDR 4,045,585,391,659 IDR 4,170,582,664,521 IDR 4,299,272,516,394 IDR 4,431,792,018,808

IDR 19,900,864,784,364

ROTA NI FA FA2010 3.95 241,117 6104227.8481 6.104228E+122011 6.25 581,041 9296656 9.296656E+12 0.52298642012 6.24 811,727 13008445.513 1.300845E+13 0.39926072013 4.89 851,435 17411758.691 1.741176E+13 0.33849652014 3.95 854,936 21643949.367 2.164395E+13 0.2430651

0.3759522

2013 16122222014 2176438 0.349961729836214

1.070258E+13 14,448,068,010,664

2010 241,1172011 581,041 1.40982012 811,727 0.39702013 851,435 0.04892014 854,936 0.0041 0.4650

2015 2016 2017 2018Sales 6,500,000,000,000 7,637,500,000,000 8,974,062,500,000 ###VCFCDeprecEBT 1,187,411,111,111 1,739,509,873,903 2,548,312,520,484 3,733,176,108,673Tax 332,475,111,111 487,062,764,693 713,527,505,735 1,045,289,310,428NI 854,936,000,000 1,252,447,109,210 1,834,785,014,748 2,687,886,798,244Deprec 578,500,000 578,500,000 578,500,000 578,500,000OFC 855,514,500,000 1,253,025,609,210 1,835,363,514,748 2,688,465,298,244

WCBeg 1,300,000,000,000 1,527,500,000,000 1,794,812,500,000Ending 1,300,000,000,000 1,527,500,000,000 1,794,812,500,000 2,108,904,687,500NWC -1,300,000,000,000 -227,500,000,000 -267,312,500,000 -314,092,187,500

NFC -444,485,500,000 1,025,525,609,210 1,568,051,014,748 2,374,373,110,744

CF-20,000,000,000,000

2015 -444,485,500,000 -20,444,485,500,0002016 1,025,525,609,2102017 1,568,051,014,7482018 2,374,373,110,7442019 3,569,167,033,189

201912,389,815,039,063

5,468,953,963,1971,531,307,109,6953,937,646,853,502

578,500,0003,938,225,353,502

2,108,904,687,5002,477,963,007,813-369,058,320,313

3,569,167,033,189