INKP Indah Kiat Pulp & Paper Tbk.

COMPANY REPORT : JANUARY 2019 As of 31 January 2019

Main Board Individual Index : 669.872
Industry Sector : Basic Industry& Chemicals (3) Listed Shares : 5,470,982,941
Industry Sub Sector : Pulp & Paper (38) Market Capitalization : 71,122,778,233,000
17 | 71.1T | 0.96% | 55.84%

9 | 46.0T | 2.21% | 34.06%

COMPANY HISTORY SHAREHOLDERS (December 2018)

Established Date : 07-Dec-1976 1. PT Purinusa Ekapersada 2,898,928,298 : 52.99%
Listing Date : 16-Jul-1990 (IPO Price: 10,600) 2. Public (<5%) 2,572,054,643 : 47.01%
Underwriter IPO :
PT Ficorinvest DIVIDEND ANNOUNCEMENT
PT Jardine Fleming Nusantara Bonus Cash Recording Payment
F/I
PT Nomura Indonesia Year Shares Dividend Cum Date Ex Date Date Date
PT Inter-Pacific 1990 5:1 16-Jan-91 17-Jan-91 25-Jan-91 6-Feb-91 F
PT Bank Pembangunan Indonesia 1990 4:1 100.00 29-Oct-91 30-Oct-91 15-Nov-91 16-Dec-91 F1990&BS1990

Securities Administration Bureau : 1991 2:1 12-Aug-92 13-Aug-92 21-Aug-92 18-Sep-92 F

PT Sinartama Gunita 1992 50.00 9-Nov-92 10-Nov-92 17-Nov-92 26-Nov-92 I
1993 100:40 25.00 11-Aug-94 12-Aug-94 22-Aug-94 22-Sep-94 F
BOARD OF COMMISSIONERS 1994 1000 : 24 35.00 4-Sep-95 5-Sep-95 13-Sep-95 12-Oct-95 F
1. Saleh Husin 1994 100 : 11 2-Nov-95 3-Nov-95 13-Nov-95 12-Dec-95 BS
2. Arthur Tahya 1995 100 : 8 & 100 : 13 35.00 23-Aug-96 26-Aug-96 3-Sep-96 2-Oct-96 F
3. Deddy Saleh *) 1996 35.00 7-Jul-97 8-Jul-97 16-Jul-97 14-Aug-97 F
4. Kosim Sutiono 2013 25.00 17-Oct-14 20-Oct-14 22-Oct-14 5-Nov-14 F
5. Pande Putu Raka *) 2014 10.00 2-Jul-15 3-Jul-15 7-Jul-15 29-Jul-15 F
6. Ramelan *) 2014 25.00 2-Jul-15 3-Jul-15 7-Jul-15 29-Jul-15 F
7. Sukirta Mangku Djaja 2015 25.00 12-Jul-16 13-Jul-16 15-Jul-16 29-Jul-16 F
*) Independent Commissioners 2016 30.00 19-Jun-17 20-Jun-17 22-Jun-17 14-Jul-17 F
2017 100.00 4-Jul-18 5-Jul-18 9-Jul-18 27-Jul-18 F
BOARD OF DIRECTORS
1. Hendra Jaya Kosasih ISSUED HISTORY
2. Agustian Rachmansjah Partawidjaja Listing Trading
3. Didi Harsa No. Type of Listing Shares Date Date
4. Heri Santoso 1. First Issue 60,000,000 16-Jul-90 16-Jul-90
5. Kurniawan Yuwono 2. Partial Listing 231,348,635 T: 16-Jul-90 : 3-Sep-97
6. Lan Cheng Ting 3. Bonus Shares 677,845,337 T: 11-Feb-91 : 3-Oct-96
7. lioe Djohan / Djohan Gunawan 4. Koperasi 4,333,125 T: 28-Jun-93 : 1-Jan-00
8. Suhendra Wiriadinata 5. Stock Dividend 100,237,392 T: 13-Oct-95 : 3-Oct-96
9. Suresh Kilam 6. Right Issue 1,561,046,740 T: 15-Apr-96 : 11-Jul-97
10. Suryamin Halim 7. Warrant I 302,527,512 T: 1-Nov-96 : 30-Apr-01
8. Bonus Shares, Stocks Dividend, & Right Issue 1,712,297,882 3-Sep-97 3-Sep-97
AUDIT COMMITTEE 9. Warrant II 165,772,790 T: 9-Feb-98 : 16-Apr-01
1. Ramelan 10. Warrant I & Company Listing 655,573,528 22-Dec-00 22-Dec-00
2. Aditiawan Chandra
3. Deddy Saleh

CORPORATE SECRETARY
Heri Santoso

HEAD OFFICE
Sinar Mas Land Plaza, Tower II, 5th Floor
Jl. Mh. Thamrin No.51
Jakarta 10350
Phone : (021) 2965-0800
Fax : (021) 3927685
Homepage : www.asiapulppaper.com
Email :
 INKP Indah Kiat Pulp & Paper Tbk.
TRADING ACTIVITIES
Closing Price* and Trading Volume
Indah Kiat Pulp & Paper Tbk. Closing Price Freq. Volume Value

Day
Closing Volume
Price* January 2015 - January 2019 (Mill. Sh) Month High Low Close (X) (Thou. Sh.) (Million Rp)
22,000 320 Jan-15 1,115 1,030 1,090 3,515 11,737 12,531 21
Feb-15 1,095 930 930 6,009 43,736 43,756 19
19,250 280 Mar-15 1,000 910 995 4,501 25,798 24,184 22
Apr-15 1,150 920 1,120 2,489 15,511 16,177 21
May-15 1,200 1,000 1,000 5,143 23,229 25,649 19
16,500 240
Jun-15 1,030 865 895 4,860 19,319 17,711 21
Jul-15 990 860 960 4,687 18,971 17,314 19
13,750 200
Aug-15 1,040 755 780 15,167 37,469 32,478 20
Sep-15 845 720 790 4,074 15,532 12,359 21
11,000 160
Oct-15 850 790 825 2,334 14,333 11,753 21
Nov-15 1,050 830 950 5,973 32,820 32,195 21
8,250 120 Dec-15 985 855 955 2,423 63,809 57,621 19

5,500 80 Jan-16 960 910 935 1,446 12,410 11,608 20

Feb-16 955 845 885 3,264 16,357 14,456 20
2,750 40 Mar-16 1,000 885 960 7,476 45,577 42,923 21
Apr-16 1,080 900 1,000 10,381 98,857 101,308 21
May-16 995 880 900 4,335 33,419 30,523 20
Jun-16 930 875 920 2,930 18,490 16,728 22
Jan-15 Jan-16 Jan-17 Jan-18 Jan-19
Jul-16 1,100 900 1,050 6,732 61,863 62,838 16
Aug-16 1,205 980 1,040 9,372 106,464 112,254 22
Sep-16 1,070 950 985 1,878 256,344 232,420 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-16 1,085 950 1,060 3,922 118,470 118,638 21
Basic Industry and Chemicals Index Nov-16 1,100 950 975 1,715 27,331 27,273 22
January 2015 - January 2019 Dec-16 990 935 955 2,088 41,548 39,944 20
1,750%
Jan-17 1,185 955 1,045 6,898 88,249 96,634 21
1,500% Feb-17 1,270 1,030 1,260 3,736 41,713 47,977 19
Mar-17 1,360 1,050 1,310 6,286 61,790 76,930 22
1,250% Apr-17 2,130 1,300 2,080 25,071 176,155 305,497 17
May-17 2,990 2,110 2,530 45,941 243,111 618,129 20
1081.8%
1,000% Jun-17 2,690 2,350 2,550 14,735 88,552 221,656 15
Jul-17 3,050 2,400 2,770 18,204 327,713 850,564 21
Aug-17 3,090 2,610 3,080 43,081 420,596 1,155,750 22
750%
Sep-17 4,390 3,060 4,190 46,240 249,294 864,922 19
Oct-17 5,275 4,110 5,275 39,899 124,446 563,713 22
500%
Nov-17 6,000 4,650 5,225 59,014 195,150 1,032,498 22
Dec-17 5,525 4,550 5,400 143,322 174,093 853,880 18
250%

Jan-18 9,450 5,350 9,375 57,695 219,024 1,516,362 22

68.3%
- 24.6% Feb-18 10,975 7,600 10,750 64,196 209,190 1,891,880 19
Mar-18 12,525 10,400 11,000 94,787 380,376 4,348,198 21
-250% Apr-18 13,425 10,675 13,200 85,825 251,187 3,006,678 21
Jan 15 Jan 16 Jan 17 Jan 18 Jan 19 May-18 18,700 13,000 18,700 123,519 591,381 9,610,522 20
Jun-18 20,700 16,275 18,600 115,011 238,060 4,641,131 13
Jul-18 20,375 14,650 19,200 135,104 292,771 5,455,934 22
SHARES TRADED 2015 2016 2017 2018 Jan-19 Aug-18 19,925 16,900 19,100 108,064 213,774 4,026,029 21
Volume (Million Sh.) 322 837 2,191 3,214 145 Sep-18 19,050 16,500 17,350 90,573 206,544 3,655,581 19
Value (Billion Rp) 304 811 6,688 45,677 1,792 Oct-18 17,575 10,750 12,725 153,340 225,937 3,102,182 23
Frequency (Thou. X) 61 56 452 1,256 113 Nov-18 13,800 10,425 10,500 145,515 210,799 2,459,286 21
Days 244 246 238 240 22 Dec-18 12,200 10,475 11,550 82,039 174,476 1,963,690 18

Price (Rupiah) Jan-19 13,700 11,150 13,000 113,051 144,509 1,792,145 22

High 1,200 1,205 6,000 20,700 13,700
Low 720 845 955 5,350 11,150
Close 955 955 5,400 11,550 13,000
Close* 955 955 5,400 11,550 13,000

PER (X) 1.70 3.11 5.71 6.15 6.92

PER Industry (X) 4.10 20.86 13.10 13.74 15.89
PBV (X) 0.14 0.15 0.71 1.15 1.29
* Adjusted price after corporate action
 INKP Indah Kiat Pulp & Paper Tbk.
Financial Data and Ratios Book End : December
Public Accountant : Y. Santosa

BALANCE SHEET Dec-14 Dec-15 Dec-16 Dec-17 Sep-18 TOTAL ASSETS AND LIABILITIES (Bill. Rp)
(in Million Rp, except Par Value) Assets Liabilities
Cash & Cash Equivalents 1,483,926 2,448,452 2,834,123 8,368,193 10,841,858 137,500

Receivables 13,366,524 9,064,387 9,170,460 11,814,181 17,278,168

10,831,234 12,687,216 13,137,210 1,286,857 16,204,459 110,000
Inventories
Current Assets 20,612,745 30,400,963 29,384,250 42,613,188 61,367,147
82,500
Fixed Assets 54,651,159 62,844,189 54,328,802 2,322,114 58,408,936
Other Assets 85,846 1,476,488 1,113,468 591,885 538,579
55,000
Total Assets 81,073,679 103,162,005 92,423,557 103,428,629 130,229,235
Growth (%) 27.24% -10.41% 11.91% 25.91% 27,500

Current Liabilities 14,924,630 21,688,344 18,384,398 20,361,696 26,067,079 -

Long Term Liabilities 36,198,535 43,026,957 36,157,888 39,474,252 49,029,225 2014 2015 2016 2017 Sep-18
Total Liabilities 51,123,165 64,715,301 54,542,287 59,835,948 75,096,304
Growth (%) 26.59% -15.72% 9.71% 25.50%
TOTAL EQUITY (Bill. Rp)
Authorized Capital 20,000,000 20,000,000 20,000,000 20,000,000 20,000,000 55,133
Paid up Capital 5,470,983 5,470,983 5,470,983 5,470,983 5,470,983 55,133

Paid up Capital (Shares) 5,471 5,471 5,471 5,471 5,471 43,593

Par Value 1,000 1,000 1,000 1,000 1,000
43,886

38,447 37,881
Retained Earnings 2,650,982 6,171,989 8,246,399 13,746,370 22,268,052 29,951
29,950,514 38,446,703 37,881,270 43,592,682 55,132,931
32,639

Total Equity
Growth (%) 28.37% -1.47% 15.08% 26.47% 21,392

INCOME STATEMENTS Dec-14 Dec-15 Dec-16 Dec-17 Sep-18 10,144

Total Revenues 32,769,320 41,542,013 36,552,275 42,377,169 37,434,557

Growth (%) 26.77% -12.01% 15.94%
-1,103

2014 2015 2016 2017 Sep-18

Cost of Revenues 27,126,050 32,601,419 28,742,385 30,136,158 23,699,847

Gross Profit 5,643,270 8,940,594 7,809,890 12,241,011 13,734,710
TOTAL REVENUES (Bill. Rp)
Expenses (Income) 3,253,357 4,145,688 3,954,215 4,075,807 3,230,367
Operating Profit 2,389,913 4,794,906 3,855,675 8,165,203 10,504,343 41,542 42,377

Growth (%) 100.63% -19.59% 111.77% 37,435

42,377

36,552
32,769
33,732

Other Income (Expenses) -819,147 -1,425,686 -1,903,290 -1,972,589 -1,174,644

Income before Tax 1,570,766 3,369,219 1,952,385 6,192,615 9,329,699 25,087

Tax 1,915 104,416 -771,831 593,470 1,622,334

Profit for the period 1,568,851 3,264,803 2,724,216 5,599,145 7,707,365 16,442

Growth (%) 108.10% -16.56% 105.53%

7,797

Period Attributable 1,568,714 3,265,286 2,723,544 5,598,156 7,705,917 -848

Comprehensive Income 1,568,851 3,414,128 2,771,336 5,562,565 7,682,135 2014 2015 2016 2017 Sep-18
Comprehensive Attributable 1,568,714 3,414,612 2,770,664 5,561,657 7,680,687

RATIOS Dec-14 Dec-15 Dec-16 Dec-17 Sep-18 PROFIT FOR THE PERIOD (Bill. Rp)
Current Ratio (%) 138.11 140.17 159.83 209.28 235.42
7,707
Dividend (Rp) 35.00 25.00 30.00 100.00 - 7,707

EPS (Rp) 286.73 596.84 497.82 1,023.24 1,408.51

5,599
BV (Rp) 5,474.43 7,027.38 6,924.03 7,967.98 10,077.34 6,135

DAR (X) 0.63 0.63 0.59 0.58 0.58

DER(X) 1.71 1.68 1.44 1.37 1.36
4,563

3,265
ROA (%) 1.94 3.16 2.95 5.41 5.92 2,724
2,990

ROE (%) 5.24 8.49 7.19 12.84 13.98 1,569

GPM (%) 17.22 21.52 21.37 28.89 36.69 1,418

OPM (%) 7.29 11.54 10.55 19.27 28.06

NPM (%) 4.79 7.86 7.45 13.21 20.59
-154

2014 2015 2016 2017 Sep-18

Payout Ratio (%) 12.21 4.19 6.03 9.77 -
Yield (%) 3.35 2.62 3.14 1.85 -

*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929