PT Aqua Golden Mississippi Tbk.

Food and Beverages

Head Office Jl. Pulo Lentut No. 3 Summary of Financial Statement

Kawasan Industri Pulo Gadung
Jakarta 13920 (million rupiah)
Phone (021) 460-3070, 4682-3523 2004 2005 2006
Fax (021) 460-9177 Total Assets 671,109 732,354 795,244
Factories - Jl. Raya Jakarta - Bekasi Km. 27 Current Assets 378,367 442,484 527,137
Bekasi, Pondok Ungu of which
Jawa Barat Cash and cash equivalents 46,994 58,892 36,577
Phone (021) 460-0841, 460-0842 Trade receivables 291,222 339,092 429,729
Fax (021) 460-0842 Inventories 23,453 24,342 23,732
- Citeureup Non-Current Assets 292,742 289,871 268,107
Phone (021) 8670847, 8670848 of which
Fax (021) 8673545 Fixed Assets-Net 290,365 287,735 259,610
- Desa Mekarsari, Liabilities 308,620 318,127 342,897
Kecamatan Cicurug Current Liabilities 85,921 62,333 73,395
Sukabumi, Jawa Barat of which
Phone (0266) 732-622 Trade payables 47,421 42,838 48,463
Fax (0266) 734433 Taxes payable 29,279 6,378 11,930
Business Beverages (Bottled Mineral Water), Accrued expenses 7,310 8,262 7,791
Lipton Ice Tea Non-Current Liabilities 222,699 255,794 269,501
Company Status PMDN Minority Interests in Subsidiaries 7,151 8,903 5,122

Shareholders' Equity 355,338 405,324 447,226

Financial Performance: The Company recorded net profit at
Paid-up capital 13,162 13,162 13,162
IDR48.853 billions in 2006 versus IDR64.349 billions in 2005. The
Paid-up capital
lower net profit was partly due to higher COGS from IDR1.459 in excess of par value 8,624 8,624 8,624
trillions to IDR1.567 trillions. Revaluation of fixed assests 106 106 106
Brief History: The company commenced its production in 1974 Retained earnings 333,445 383,432 425,333
and currently owns bottling plants in Bekasi, Citeureup, Bogor
and Mekarsari, Sukabumi.The Company has total production ca- Net Sales 1,333,147 1,563,156 1,665,615
pacity of 640 million liters per annum. The Bekasi plant produces Cost of Goods Sold 1,191,197 1,459,062 1,567,477
Gross Profit 141,950 104,094 98,138
for non-carbonated beverage with capacity of 40 million liters per
Operating Expenses 25,276 31,591 30,575
annum. The company also grants licenses in Babakan Pari
Operating Profit 116,674 72,503 67,563
(Sukabumi), Kuningan, Wonosobo, Pandaan, Bali, Lampung, Other Income (Expenses) 16,720 18,860 12,232
Brastagi, Manado with total capacity of 575 million liters per an- Profit before Taxes 133,394 91,363 79,794
num. It also has 80% shares in IBIC Sdn Bhd in Brunei Darusalam, Profit after Taxes 91,582 64,350 48,854
which also produces bottled water under SEHAT brand. The com-
pany has exported its products to Asean country, Vietnam, Cam- Per Share Data (Rp)
bodia, Hongkong, New Zealand, Australia, Taiwan and Canada. Earnings per Share 6,958 4,889 3,712
In March 2001, the Utomo family, owners of PT Aqua Golden Mis- Equity per Share 26,997 30,795 33,979
Dividend per Share 1,180 830 n.a
sissippi Tbk., approved an increase in the Danone Group’s stake
Closing Price 48,000 63,000 110,000
in the bottled water company from 40% to 70%. Following this,
Aqua’s name was changed to Aqua Danone. This step was taken Financial Ratios
in order to strengthen the Aqua Group’s ability to compete in a PER (x) 6.90 12.89 29.64
global market through a strategic alliance with a partner backed PBV (x) 1.78 2.05 3.24
by an international network. Dividend Payout (%) 16.96 16.98 n.a
Dividend Yield (%) 2.46 1.32 n.a

Current Ratio (x) 4.40 7.10 7.18

Debt to Equity (x) 0.87 0.78 0.77
Leverage Ratio (x) 0.46 0.43 0.43
Gross Profit Margin (x) 0.11 0.07 0.06
Operating Profit Margin (x) 0.09 0.05 0.04
Net Profit Margin (x) 0.07 0.04 0.03
Inventory Turnover (x) 50.79 59.94 66.05
Total Assets Turnover (x) 1.99 2.13 2.09
ROI (%) 13.65 8.79 6.14
ROE (%) 25.77 15.88 10.92

PER = 24.97x ; PBV = 3.09x (June 2007)

Shareholders Financial Year: December 31
PT Tirta Investama 93.60% Public Accountant: Haryanto Sahari & Co.
Public 6.40%

76 Indonesian Capital Market Directory 2007

 PT Aqua Golden Mississippi Tbk. Food and Beverages

Board of Commissioners Board of Directors

President Commissioner Lisa Tirto Utomo President Director Willy Sidharta
Commissioners R. Soekardi, Janto Utomo Directors John Abdi, Parmaningsih, SE

Number of Employees 1,924

No Type of Listing Listing Date Trading Date Number of Shares Total Listed
per Listing Shares
1 First Issue 01-Mar-90 01-Mar-90 1,000,000 1,000,000
2 Company Listing 01-Mar-90 01-Mar-90 5,000,000 6,000,000
3 Bonus Shares 14-Oct-94 14-Oct-94 3,000,000 9,000,000
4 Bonus Shares 13-Oct-95 13-Oct-95 2,700,000 11,700,000
5 Stock Dividen 11-Aug-97 11-Aug-97 1,462,473 13,162,473

Underwriter
PT FICORINVEST
Stock Price, Frequency, Trading Days, Number and Value of Shares Traded and Market Capitalization
Stock Price Shares Traded Trading Listed Market
Month High Low Close Volume Value Frequency Day Shares Capitalization
(Rp) (Rp) (Rp) (Thousand Shares) (Rp Million) (Rp Million)
January-06 87,000 75,600 87,000 43.00 4205.00 6 4 13,162,473.00 1,145,135.00
February-06 90,000 70,000 70,000 4.00 323.00 6 5 13,162,473.00 921,373.00
March-06 80,000 69,000 80,000 3.00 195.00 4 3 13,162,473.00 1,052,998.00
April-06 80,000 80,000 80,000 1.00 40.00 1 1 13,162,473.00 1,052,998.00
May-06 90,000 90,000 90,000 1.00 45.00 1 1 13,162,473.00 1,184,623.00
June-06 90,000 90,000 90,000 2.00 131.00 3 2 13,162,473.00 1,184,623.00
July-06 0 0 90,000 0.06 6.00 1 1 13,162,473.00 1,184,623.00
August-06 0 0 90,000 0.00 0.00 0 0 13,162,473.00 1,184,623.00
September-06 90,000 90,000 90,000 3.00 292.00 8 5 13,162,473.00 1,184,623.00
October-06 90,000 90,000 90,000 1.00 54.00 2 1 13,162,473.00 1,184,623.00
November-06 100,000 93,500 99,000 11.00 1,102.00 17 10 13,162,473.00 1,303,085.00
December-06 110,000 99,000 110,000 56.00 5,563.00 29 6 13,162,473.00 1,447,872.00
January-07 120,000 120,000 120,000 1.00 60.00 1 1 13,162,473.00 1,579,497.00
February-07 129,000 129,000 129,000 1.00 85.00 2 2 13,162,473.00 1,697,959.00
March-07 0 0 129,000 0.10 10.00 1 1 13,162,473.00 1,697,959.00
April-07 129,000 129,000 129,000 3.00 323.00 2 2 13,162,473.00 1,697,959.00
May-07 0 0 129,000 0.00 0.00 2 2 13,162,473.00 1,697,959.00
June-07 0 0 129,000 0.00 0.00 0 0 13,162,473.00 1,697,959.00

Stock Price and Traded Chart

Stock Price (Rp) Thousand Shares
140,000 60

120,000 50

100,000
40
80,000
30
60,000
20
40,000

20,000 10

- -
Jan- Feb- Mar- Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar- Apr- May- Jun-
06 06 06 06 06 06 06 06 06 06 06 06 07 07 07 07 07 07

Institute for Economic and Financial Research 77