DAILY UPDATE July 31, 2012
MACROECONOMIC NEWS
Japan Economy – Unemployment in Japan unexpectedly
declined in June to 4.3% from 4.4% a month earlier. Despite the
gain in Yen and weak demand from Europe that is hurting
Japanese exports, improvement in jobless rate provided a
positive sign to the economy.
Europe Confidence Index – European economic confidence, as
measured by an index of executive and consumer sentiment in
17-nation euro area declined to 87.9 from 89.9 in June. The
latest reading is the lowest level since September 2009,
suggesting that the economy’s slump extended to the third
quarter as the European leaders struggles to tame the debt
crisis.
CORPORATE NEWS
APLN – PT Agung Podomoro Land is considering to upsize the
size of the 5 year bonds by IDR 400 billion to IDR 1.2 trillion on
the back of strong demand. The coupon is talked at 9.27%-
9.87%.
SIPD – Associate director of PT Sierad Produce claimed that
broiler chicken price is decreasing to a stable IDR 24,000-
25,000/kg from previously IDR 33,000/kg due to lower demand
in Ramadan.
BMRI – PT Bank Mandiri is able to trade recap bonds of IDR 1.8
trillion through debt swap with Standard Chartered Bank
Singapore. BMRI receives USD 250 million loans in return of the
recap bonds. BMRI owns recap bonds of IDR 78 trillion (IDR 54
trillion is available for sale and IDR 24 trillion is held to
maturity). On a separate note, BMRI channeled loan of IDR
119.2 trillion, up 23.9% yoy, however its current account, saving
account, and time deposits are up to 26%, 7%, and 65%
respectively.
PT. Panin Asset Management JSX Building Tower I, 3rd Floor Jl. Jend. Sudirman Kav. 52-53 , Jakarta 12190 T : (021) 515-0595 , F : (021) 515-0601
Equity Markets Closing % Change
Dow Jones 13073 0.0
NASDAQ 2946 -0.4
MSCI excl. Jap 482 1.2
Nikkei 8607 -0.3
Hang Seng 19661 0.4
STI 3013 -0.7
JCI 4099 0.4
Indo ETF (IDX) 28.4 -0.4
Indo ETF (EIDO) 29.5 -0.5
Currency
Closing Last Trade
US$ - IDR 9492 9480.8
US$ - Yen 78.18 78.15
Euro - US$ 1.226 1.2276
US$ - SG$ 1.2462 1.246
Commodities
Last Price Chg %Chg
Oil NYMEX 89.7 -0.36 -0.4
Coal NYMEX 60.5 1.36 2.3
Coal Newcastle 83.3 2.1 2.6
Nickel 16250 370 2.3
Tin 18270 155 0.9
Gold 1625 3.5 0.2
CPO Rott 980 0 0.0
CPO Malay 2882 -13.5 -0.5
Indo Gov. Bond Yields
Last Yield Chg %Chg
1 year 4.83 0.00 0.1
3 year 5.23 -0.01 -0.1
5 year 5.36 0.00 0.0
10 year 5.74 0.00 -0.1
15 year 6.20 0.00 0.0
30 year 6.53 0.00 0.0
CORPORATE NEWS - cont’d
BWPT – PT BW Plantation released its 6m 2012 financial result: BWPT (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
477 520 9.09%
268 253 -5.60%
Gross Profit
328 322 -1.67%
163 159 -2.56%
Operating Profit
277 252 -9.02%
120 132 10.24%
Pretax Earnings
231 209 -9.76%
108 101 -6.58%
Net Income
171 154 -9.79%
82 72 -12.96%
EPS
41 37 -9.79%
20 17 -12.94%
Gross Profit Margin
68.7% 61.9% -6.8%
61.0% 62.9% 2.0%
Operating Profit Margin
58.1% 48.4% -9.6%
44.8% 52.3% 7.5%
Net Profit Margin
35.8% 29.6% -6.2%
30.7% 28.3% -2.4%
TSPC – PT Tempo Scan Pasific released its 6m 2012 financial result: TSPC (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
2,751 3,234 17.53%
1,545 1,689 9.36%
Gross Profit
1,070 1,272 18.82%
608 664 9.19%
Operating Profit
410 472 15.12%
241 231 -3.81%
Pretax Earnings
449 508 13.17%
259 249 -4.01%
Net Income
367 416 13.38%
222 195 -12.19%
EPS
80 91 13.75%
49 42 -15.21%
Gross Profit Margin
38.9% 39.3% 0.4%
39.4% 39.3% -0.1%
Operating Profit Margin
14.9% 14.6% -0.3%
15.6% 13.7% -1.9%
Net Profit Margin
13.3% 12.9% -0.5%
14.3% 11.5% -2.8%
TBLA – PT Tunas Baru Lampung released its 6m 2012 financial result:
TBLA (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
2,078 1,935 -6.89%
1,007 928 -7.89%
Gross Profit
754 586 -22.27%
305 282 -7.52%
Operating Profit
365 327 -10.39%
171 157 -8.20%
Pretax Earnings
406 235 -42.02%
143 92 -35.78%
Net Income
314 186 -40.94%
111 75 -32.39%
EPS
67 37 -44.10%
22 15 -33.97%
Gross Profit Margin
36.3% 30.3% -6.0%
30.2% 30.4% 0.1%
Operating Profit Margin
17.6% 16.9% -0.7%
16.9% 16.9% -0.1%
Net Profit Margin
15.1% 9.6% -5.5%
11.0% 8.1% -2.9%
INTP – PT Indocement Tunggal Prakarsa released its 6m 2012 financial result: INTP (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
6,331 8,193 29.40%
3,849 4,344 12.85%
Gross Profit
3,002 3,778 25.87%
1,769 2,009 13.57%
Operating Profit
2,119 2,663 25.66%
1,208 1,455 20.47%
Pretax Earnings
2,262 2,832 25.20%
1,305 1,527 17.06%
Net Income
1,729 2,166 25.27%
1,000 1,166 16.66%
EPS
469 588 25.47%
272 317 16.54%
Gross Profit Margin
47.4% 46.1% -1.3%
46.0% 46.3% 0.3%
Operating Profit Margin
33.5% 32.5% -1.0%
31.4% 33.5% 2.1%
Net Profit Margin
27.3% 26.4% -0.9%
26.0% 26.9% 0.9%
CORPORATE NEWS - cont’d
SGRO – PT Sampoerna Agro reported its 6M12 financial reports:
SGRO (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
1,711 1,390 -18.76%
684 707 3.41%
Gross Profit
672 395 -41.26%
187 208 11.44%
Operating Profit
490 229 -53.36%
87 142 62.33%
Pretax Earnings
487 212 -56.54%
78 133 70.21%
Net Income
362 154 -57.33%
61 93 51.57%
EPS
188 79 -57.98%
32 47 46.88%
Gross Profit Margin
39.3% 28.4% -10.9%
27.3% 29.4% 2.1%
Operating Profit Margin
28.7% 16.5% -12.2%
12.8% 20.0% 7.3%
Net Profit Margin
21.1% 11.1% -10.0%
9.0% 13.2% 4.2%
GGRM – PT Gudang Garam reported its 6M12 financial reports:
GGRM (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
19,845 23,559 18.71%
11,476 12,083 5.29%
Gross Profit
4,778 4,548 -4.81%
2,403 2,145 -10.73%
Operating Profit
3,171 3,047 -3.90%
1,743 1,304 -25.21%
Pretax Earnings
3,100 2,837 -8.47%
1,633 1,204 -26.26%
Net Income
2,325 2,128 -8.47%
1,209 919 -23.99%
EPS
1,192 1,092 -8.39%
628 464 -26.11%
Gross Profit Margin
24.1% 19.3% -4.8%
20.9% 17.8% -3.2%
Operating Profit Margin
16.0% 12.9% -3.0%
15.2% 10.8% -4.4%
Net Profit Margin
11.7% 9.0% -2.7%
10.5% 7.6% -2.9%
GZCO – PT Gozco Plantation reported its 6M12 financial reports:
GZCO (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
214 166 -22.50%
84 82 -2.48%
Gross Profit
70 58 -16.37%
26 33 26.35%
Operating Profit
51 35 -31.79%
15 19 29.12%
Pretax Earnings
98 51 -48.41%
34 17 -49.49%
Net Income
89 48 -46.10%
34 14 -57.90%
EPS
18 10 -46.10%
7 3 -57.90%
Gross Profit Margin
32.7% 35.2% 2.6%
30.8% 39.9% 9.1%
Operating Profit Margin
23.7% 20.8% -2.8%
18.0% 23.8% 5.8%
Net Profit Margin
41.4% 28.8% -12.6%
40.0% 17.3% -22.7%
MASA – PT Multistrada reported its 6M12 financial reports:
MASA (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
1,378 1,608 16.64%
794 814 2.52%
Gross Profit
258 306 18.76%
154 152 -1.57%
Operating Profit
152 151 -0.78%
77 74 -3.19%
Pretax Earnings
158 15 -90.53%
24 (9) -137.34%
Net Income
122 6 -94.82%
17 (11) -163.92%
EPS
13 1 -94.82%
2 (1) -163.92%
Gross Profit Margin
18.7% 19.1% 0.3%
19.5% 18.7% -0.8%
Operating Profit Margin
11.0% 9.4% -1.6%
9.6% 9.1% -0.5%
Net Profit Margin
8.8% 0.4% -8.4%
2.2% -1.4% -3.6%
CORPORATE NEWS - cont’d
BYAN – PT Bayan Resources reported its 6M12 financial reports:
BYAN (USD mio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
729 787 7.99%
399 387 -2.94%
Gross Profit
228 159 -30.02%
88 71 -19.59%
Operating Profit
181 90 -50.25%
52 38 -26.63%
Pretax Earnings
156 71 -54.58%
46 25 -46.91%
Net Income
110 50 -54.36%
33 18 -46.76%
EPS
0 0 -54.36%
0 0 -46.76%
Gross Profit Margin
31.2% 20.2% -11.0%
22.1% 18.3% -3.8%
Operating Profit Margin
24.9% 11.5% -13.4%
13.0% 9.9% -3.2%
Net Profit Margin
15.2% 6.4% -8.7%
8.2% 4.5% -3.7%
BBNI – PT Bank Negara Indonesia reported its 6M12 financial reports:
BBNI (IDR bio) 6m 2011 6m 2012 YoY
Q1 2012 Q2 2012 QoQ
Net Interest Income
6,087.20 7,226.88 18.7%
3,496.90 3,729.98 6.7% Non Interest Income
3,708.23 3,805.95 2.6%
1,744.19 2,061.76 18.2%
Other Operating Expense
6,013.07 7,105.67 18.2%
3,378.65 3,727.02 10.3% Operating Profit
3,782.36 3,927.16 3.8%
1,862.44 2,064.72 10.9%
Net Income Before Tax
3,656.36 4,105.15 12.3%
1,962.99 2,142.16 9.1% Net Income
2,731.66 3,289.68 20.4%
1,540.18 1,749.50 13.6%
EPS (diluted)
146.00 176.00 20.5%
83.00 93.00 12.0%
Jun '11 Jun '12 YoY
Mar '12 Jun '12 QoQ
CAR (after Market Risk)
17.34% 16.76% -3.3%
18.11% 16.76% -7.5% NIM
5.90% 5.77% -2.2%
5.97% 5.77% -3.4%
ROE
18.99% 19.66% 3.5%
18.40% 19.66% 6.8% ROA
3.05% 2.81% -7.9%
2.76% 2.81% 1.8%
NPL (Gross)
4.03% 3.44% -14.6%
3.58% 3.44% -3.9% NPL (Net)
0.73% 0.71% -2.7%
0.65% 0.71% 9.2%
LDR
76.08% 73.61% -3.2%
74.36% 73.61% -1.0%
TLKM – PT Telekomunikasi Indonesia published its 6M 2012 financial results:
TLKM (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
34,371 36,720 6.8%
17,796 18,924 6.3%
Gross Profit
17,669 19,766 11.9%
9,600 10,166 5.9%
Operating Profit
11,317 12,298 8.7%
6,220 6,078 -2.3%
Pretax Earnings
10,782 12,004 11.3%
6,071 5,933 -2.3%
Net Income
5,940 6,428 8.2%
3,322 3,106 -6.5%
EPS
302 334 10.6%
172 162 -6.1%
Gross Profit Margin
51.4% 53.8% 2.4%
53.9% 53.7% -0.2%
Operating Profit Margin
32.9% 33.5% 0.6%
35.0% 32.1% -2.8%
Net Profit Margin
17.3% 17.5% 0.2%
18.7% 16.4% -2.3%
CORPORATE NEWS - cont’d
BBCA – PT Bank Central Asia reported its 6m12 financial reports:
BBCA (IDR bio) 6m 2011 6m 2012 YoY
Q1 2012 Q2 2012 QoQ
Net Interest Income
8,030.93 9,189.81 14.4%
4,468.47 4,721.35 5.7% Non Interest Income
4,031.06 6,088.05 51.0%
3,183.87 2,904.18 -8.8%
Other Operating Expense
6,080.95 8,884.72 46.1%
4,833.50 4,051.22 -16.2% Operating Profit
5,981.04 6,393.14 6.9%
2,818.84 3,574.31 26.8%
Net Income Before Tax
6,060.42 6,672.32 10.1%
2,895.11 3,777.21 30.5% Net Income
4,792.61 5,297.37 10.5%
2,303.70 2,993.67 30.0%
EPS (diluted)
197.00 217.00 10.2%
95.00 122.00 28.4%
Jun '11 Jun '12 YoY
Mar '12 Jun '12 QoQ
CAR (after Market Risk)
13.92% 14.69% 5.5%
15.41% 14.69% -4.7% NIM
5.63% 5.34% -5.2%
5.24% 5.34% 1.9%
ROE
30.83% 28.98% -6.0%
22.08% 28.98% 31.3% ROA
3.62% 3.45% -4.7%
2.70% 3.45% 27.8%
NPL (Gross)
0.65% 0.53% -18.5%
0.58% 0.53% -8.6% NPL (Net)
0.26% 0.36% 38.5%
0.30% 0.36% 20.0%
LDR
55.87% 65.45% 17.1%
61.60% 65.45% 6.3%
BMRI – PT Bank Mandiri reported its 2Q12 results:
BMRI (IDR bio) 6m 2011 6m 2012 YoY
Q1 2012 Q2 2012 QoQ
Net Interest Income
10,726.70 13,090.60 22.0%
6,204.20 6,886.40 11.0% Non Interest Income
6,176.64 5,785.07 -6.3%
2,742.49 3,042.57 10.9%
Other Operating Expense
9,316.80 10,762.81 15.5%
5,157.82 5,604.99 8.7% Operating Profit
8,421.85 9,211.44 9.4%
4,316.44 4,895.00 13.4%
Net Income Before Tax
8,501.91 9,411.59 10.7%
4,490.38 4,921.21 9.6% Net Income
6,514.24 7,404.84 13.7%
3,402.75 4,002.09 17.6%
EPS (diluted)
270.98 306.30 13.0%
145.83 160.47 10.0%
Jun '11 Jun '12 YoY
Mar '12 Jun '12 QoQ
CAR (after Market Risk)
16.73% 16.15% -3.5%
17.54% 16.15% -7.9% NIM
5.26% 5.38% 2.3%
5.22% 5.38% 3.1%
ROE
27.20% 25.19% -7.4%
23.46% 25.19% 7.4% ROA
3.66% 3.35% -8.5%
3.25% 3.35% 3.1%
NPL (Gross)
2.22% 1.95% -12.2%
2.18% 1.95% -10.6% NPL (Net)
0.51% 0.44% -13.7%
0.46% 0.44% -4.3%
LDR
73.43% 81.42% 10.9%
78.97% 81.42% 3.1%
CORPORATE NEWS - cont’d
PNBN – PT Panin Bank reported its 2Q12 results:
PNBN (IDR bio) 6m 2011 6m 2012 YoY
Q1 2012 Q2 2012 QoQ
Net Interest Income
2,387.21 2,656.86 11.3%
1,281.63 1,375.23 7.3% Non Interest Income
1,030.66 1,144.05 11.0%
540.75 603.30 11.6%
Other Operating Expense
2,144.50 2,148.05 0.2%
1,027.79 1,120.26 9.0% Operating Profit
1,273.36 1,652.86 29.8%
794.59 858.27 8.0%
Net Income Before Tax
1,284.14 1,684.18 31.2%
810.92 873.26 7.7% Net Income
954.71 1,291.41 35.3%
555.95 735.46 32.3%
EPS (diluted)
34.83 47.78 37.2%
20.57 27.21 32.3%
Jun '11 Jun '12 YoY
Mar '12 Jun '12 QoQ
CAR (after Market Risk)
15.68% 16.60% 5.9%
17.43% 16.60% -4.8% NIM
4.39% 4.14% -5.7%
4.09% 4.14% 1.2%
ROE
13.89% 16.30% 17.4%
15.64% 16.30% 4.2% ROA
1.91% 2.14% 12.0%
2.12% 2.14% 0.9%
NPL (Gross)
3.83% 3.25% -15.1%
3.61% 3.25% -10.0% NPL (Net)
2.11% 0.66% -68.7%
1.01% 0.66% -34.7%
LDR
79.41% 87.83% 10.6%
80.49% 87.83% 9.1%
GJTL – PT Gajah Tunggal reported its 2Q12 results:
GJTL (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
5,817 6,366 9.44%
3,146 3,220 2.36%
Gross Profit
769 1,108 44.16%
558 550 -1.35%
Operating Profit
441 745 68.76%
393 351 -10.66%
Pretax Earnings
533 642 20.57%
324 319 -1.59%
Net Income
422 526 24.72%
254 272 6.95%
EPS
121 151 24.79%
73 78 6.85%
Gross Profit Margin
13.2% 17.4% 4.2%
17.73% 17.09% -0.6%
Operating Profit Margin
7.6% 11.7% 4.1%
12.51% 10.92% -1.6%
Net Profit Margin
7.3% 8.3% 1.0%
8.08% 8.45% 0.4%
PANS – PT Panin Sekuritas reported its 2Q12 results:
PANS (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
168 204 21.59%
121 83 -31.37%
Operating Profit
123 145 17.74%
92 53 -42.27%
Pretax Earnings
119 138 16.55%
89 50 -43.98%
Net Income
104 112 7.26%
76 36 -52.42%
EPS
136 145 7.26%
100 45 -55.00%
Operating Profit Margin
73.5% 71.2% -2.3%
76.12% 64.03% -12.1%
Net Profit Margin
62.3% 54.9% -7.3%
62.77% 43.52% -19.2%
CORPORATE NEWS - cont’d
TOTO – PT Surya Toto Indonesia reported its 2Q12 results:
TOTO (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
666 786 17.96%
373.19 412.84 10.63%
Gross Profit
227 248 9.34%
63.16 139.82 121.37%
Operating Profit
176 197 11.73%
37.94 111.76 194.58%
Pretax Earnings
175 167 -4.56%
36.44 82.55 126.54%
Net Income
131 126 -4.18%
25.68 62.42 143.03%
EPS
2,648.0 2,537 -4.19%
518.50 1259.95 143.00%
Gross Profit Margin
34.1% 31.6% -2.5%
16.9% 33.9% 16.9%
Operating Profit Margin
26.5% 25.1% -1.4%
10.2% 27.1% 16.9%
Net Profit Margin
19.7% 16.0% -3.7%
6.9% 15.1% 8.2%
ACES – PT Ace Hardware Indonesia published its 6M 2012 financial results:
ACES (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
1,064 1,442 35.5%
721 721 0.1%
Gross Profit
488 705 44.6%
348 357 2.4%
Operating Profit
141 216 54.0%
113 103 -8.4%
Pretax Earnings
145 223 54.2%
116 108 -7.2%
Net Income
111 170 53.4%
88 82 -7.4%
EPS
65 99 53.3%
51 48 -7.6%
Gross Profit Margin
45.8% 48.9% 3.1%
48.3% 49.5% 1.1%
Operating Profit Margin
13.2% 15.0% 1.8%
15.7% 14.3% -1.3%
Net Profit Margin
10.4% 11.8% 1.4%
12.2% 11.3% -0.9%
HMSP – PT Hanjaya Mandala Sampoerna published its 6M 2012 financial results:
HMSP (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
24,684 31,886 29.2%
15,403 16,484 7.0%
Gross Profit
7,068 8,861 25.4%
4,344 4,518 4.0%
Operating Profit
5,185 6,571 26.7%
3,324 3,247 -2.3%
Pretax Earnings
5,185 6,571 26.7%
3,324 3,247 -2.3%
Net Income
3,792 4,879 28.7%
2,476 2,403 -3.0%
EPS
865 1,113 28.7%
565 548 -3.0%
Gross Profit Margin
28.6% 27.8% -0.8%
28.2% 27.4% -0.8%
Operating Profit Margin
21.0% 20.6% -0.4%
21.6% 19.7% -1.9%
Net Profit Margin
15.4% 15.3% -0.1%
16.1% 14.6% -1.5%
CORPORATE NEWS - cont’d
EMTK – PT Elang Mahkota Teknologi published its 6M 2012 financial results:
EMTK (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
1,786 2,190 22.6%
1,060 1,130 6.6%
Gross Profit
825 1,091 32.2%
489 602 23.0%
Operating Profit
531 605 13.9%
251 354 40.8%
Pretax Earnings
538 1,599 196.9%
232 1,367 488.5%
Net Income
341 1,347 294.6%
123 1,224 894.2%
EPS
67 239 258.6%
22 217 895.4%
Gross Profit Margin
46.2% 49.8% 3.6%
46.1% 53.3% 7.1%
Operating Profit Margin
29.7% 27.6% -2.1%
23.7% 31.3% 7.6%
Net Profit Margin
19.1% 61.5% 42.4%
11.6% 108.3% 96.7%
ISAT – PT Indosat published its 6M 2012 financial results:
ISAT (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
10,042 10,377 3.3%
4,977 5,400 8.5%
Gross Profit
3,322 2,944 -11.4%
1,398 1,545 10.5%
Operating Profit
1,413 1,448 2.5%
634 814 28.5%
Pretax Earnings
1,062 4 -99.7%
15 (12) -176.2%
Net Income
725 (132) -118.2%
17 (149) -989.2%
EPS
133 (24) -118.2%
3 (27) -983.9%
Gross Profit Margin
33.1% 28.4% -4.7%
28.1% 28.6% 0.5%
Operating Profit Margin
14.1% 14.0% -0.1%
12.7% 15.1% 2.3%
Net Profit Margin
7.2% -1.3% -8.5%
0.3% -2.8% -3.1%
ERAA – PT Erajaya Swasembada published its 6M 2012 financial results:
ERAA (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
2,036 6,406 214.7%
3,172 3,234 2.0%
Gross Profit
222 563 154.2%
246 318 29.2%
Operating Profit
109 307 182.6%
119 188 58.7%
Pretax Earnings
96 287 199.1%
108 179 64.9%
Net Income
67 212 217.0%
79 133 67.1%
EPS
34 73 114.7%
39 34 -12.8%
Gross Profit Margin
10.9% 8.8% -2.1%
7.7% 9.8% 2.1%
Operating Profit Margin
5.3% 4.8% -0.5%
3.7% 5.8% 2.1%
Net Profit Margin
3.3% 3.3% 0.0%
2.5% 4.1% 1.6%
CORPORATE NEWS - cont’d
CMNP – PT Citra Marga Nusaphala Persada published its 6m 2012 financial results:
CMNP (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
386 443 14.9%
218 225 3.0%
Gross Profit
273 336 23.1%
150 187 24.9%
Operating Profit
226 280 23.6%
103 177 71.6%
Pretax Earnings
208 270 29.9%
101 170 68.8%
Net Income
166 214 29.4%
80 134 68.6%
EPS
82 107 31.0%
40 68 69.8%
Gross Profit Margin
70.8% 75.9% 5.1%
68.5% 83.1% 14.5%
Operating Profit Margin
58.6% 63.1% 4.5%
47.1% 78.5% 31.4%
Net Profit Margin
42.9% 48.3% 5.4%
36.5% 59.8% 23.3%
TINS – PT Timah reported its 6m12 financial reports:
TINS (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
4,830 4,130 -14.51%
2,173 1,957 -9.96%
Gross Profit
1,252 790 -36.95%
453 337 -25.55%
Operating Profit
935 481 -48.51%
315 166 -47.42%
Pretax Earnings
930 479 -48.51%
297 182 -38.55%
Net Income
689 336 -51.26%
208 128 -38.32%
EPS
137 67 -51.26%
41 25 -38.32%
Gross Profit Margin
25.9% 19.1% -6.8%
20.8% 17.2% -3.6%
Operating Profit Margin
19.4% 11.7% -7.7%
14.5% 8.5% -6.0%
Net Profit Margin
14.3% 8.1% -6.1%
9.6% 6.5% -3.0%
INCO – PT Vale Indonesia reported its 6m12 financial reports:
INCO (USD mio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
715 425 -40.54%
197 228 15.97%
Gross Profit
349 44 -87.42%
26 18 -31.86%
Operating Profit
333 40 -87.96%
23 17 -26.66%
Pretax Earnings
320 8 -97.55%
5 3 -52.77%
Net Income
238 6 -97.68%
4 2 -55.90%
EPS
0.0240 0.0006 -97.68%
0.0004 0.0002 -55.90%
Gross Profit Margin
48.7% 10.3% -38.4%
13.2% 7.8% -5.5%
Operating Profit Margin
46.6% 9.4% -37.2%
11.8% 7.4% -4.3%
Net Profit Margin
33.3% 1.3% -32.0%
1.9% 0.7% -1.2%
CORPORATE NEWS - cont’d
MYOR – PT Mayora Indah reported its 6m12 financial reports:
MYOR (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
4,211 5,442 29.23%
2,567 2,875 12.02%
Gross Profit
749 1,120 49.59%
499 621 24.55%
Operating Profit
273 507 85.92%
215 292 35.67%
Pretax Earnings
200 436 117.80%
179 256 43.01%
Net Income
153 336 119.58%
139 197 41.66%
EPS
200 439 119.58%
182 257 41.66%
Gross Profit Margin
17.8% 20.6% 2.8%
19.4% 21.6% 2.2%
Operating Profit Margin
6.5% 9.3% 2.8%
8.4% 10.2% 1.8%
Net Profit Margin
3.6% 6.2% 2.5%
5.4% 6.9% 1.4%
SMRA – PT Summarecon Agung reported its 6m12 financial reports:
SMRA (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
939 1,515 61.37%
814 700 -14.00%
Gross Profit
452 755 67.22%
358 397 10.82%
Operating Profit
224 409 82.90%
205 204 -0.73%
Pretax Earnings
220 393 78.84%
197 196 -0.91%
Net Income
155 311 100.33%
150 161 7.59%
EPS
23 45 100.33%
22 23 7.59%
Gross Profit Margin
48.1% 49.9% 1.7%
44.0% 56.7% 12.7%
Operating Profit Margin
23.8% 27.0% 3.2%
25.2% 29.1% 3.9%
Net Profit Margin
16.5% 20.5% 4.0%
18.4% 23.0% 4.6%
KAEF – PT KAEF reported its 6m12 financial reports:
KAEF (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
1,410 1,583 12.33%
710 874 23.07%
Gross Profit
414 508 22.61%
214 294 37.13%
Operating Profit
53 114 113.39%
42 72 73.57%
Pretax Earnings
60 120 99.71%
45 75 68.19%
Net Income
40 84 109.78%
30 53 74.99%
EPS
7 15 109.78%
5 10 74.99%
Gross Profit Margin
29.4% 32.1% 2.7%
30.2% 33.6% 3.4%
Operating Profit Margin
3.8% 7.2% 3.4%
5.8% 8.2% 2.4%
Net Profit Margin
2.8% 5.3% 2.5%
4.3% 6.1% 1.8%
TBIG – PT Tower Bersama Infrastructure reported its 6m12 financial reports:
TBIG (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
440 647 46.93%
310 338 9.10%
Gross Profit
376 552 46.83%
263 288 9.64%
Operating Profit
322 476 47.92%
227 249 9.60%
Pretax Earnings
280 340 21.38%
173 167 -3.56%
Net Income
216 283 31.06%
142 141 -0.53%
EPS
47 62 31.06%
31 31 -0.53%
Gross Profit Margin
85.3% 85.2% -0.1%
85.0% 85.4% 0.4%
Operating Profit Margin
73.1% 73.6% 0.5%
73.4% 73.7% 0.3%
Net Profit Margin
49.0% 43.7% -5.3%
45.8% 41.8% -4.0%
CORPORATE NEWS - cont’d
DLTA – PT Delta Djakarta reported its 6m12 financial reports:
DLTA (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
266 349 31.11%
181 168 -7.36%
Gross Profit
188 250 32.91%
128 122 -4.54%
Operating Profit
90 133 47.80%
70 63 -10.23%
Pretax Earnings
98 140 42.83%
73 67 -9.18%
Net Income
71 103 45.39%
54 49 -8.76%
EPS
4,409 6,410 45.39%
3,352 3,058 -8.76%
Gross Profit Margin
70.5% 71.5% 1.0%
70.4% 72.6% 2.1%
Operating Profit Margin
33.8% 38.1% 4.3%
38.7% 37.5% -1.2%
Net Profit Margin
26.5% 29.4% 2.9%
29.6% 29.1% -0.4%
INDY – PT Indika Energy reported its 6m12 financial reports:
INDY (USD mio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
228 334 46.72%
162 172 5.93%
Gross Profit
41 87 109.87%
39 47 20.65%
Operating Profit
(2) 23 -
10 14 46.29%
Pretax Earnings
76 105 38.44%
76 28 -62.77%
Net Income
65 80 22.03%
50 29 -41.60%
EPS
0.013 0.015 22.03%
0.010 0.006 -41.60%
Gross Profit Margin
18.2% 26.0% 7.8%
24.3% 27.6% 3.4%
Operating Profit Margin
-0.8% 7.0% 7.8%
5.9% 8.1% 2.2%
Net Profit Margin
28.7% 23.8% -4.8%
31.0% 17.1% -13.9%
LPKR – PT Lippo Karawaci announced its 2Q12 results:
LPKR (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
1,883 2,406 27.74%
1171 1235 5.46%
Gross Profit
803 1,152 43.44%
544 609 11.92%
Operating Profit
379 600 58.23%
279 321 14.92%
Pretax Earnings
457 655 43.51%
299 356 18.83%
Net Income
298 437 46.85%
205 232 13.14%
EPS
12.9 19.0 46.85%
8.9 10.1 13.14%
Gross Profit Margin
42.7% 47.9% 5.2%
46.4% 49.3% 2.8%
Operating Profit Margin
20.1% 25.0% 4.8%
23.9% 26.0% 2.1%
Net Profit Margin
15.8% 18.2% 2.4%
17.5% 18.8% 1.3%
CORPORATE NEWS - cont’d
RALS – PT Ramayana Lestari Sentosa announced its 2Q12 results:
RALS (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
2,090 2,398 14.77%
1078.60 1319.66 22.35%
Gross Profit
681 764 12.16%
348.18 415.85 19.44%
Operating Profit
50.61 89.34 76.54%
27.70 61.64 122.50%
Pretax Earnings
76.18 115.37 51.45%
42.86 72.51 69.16%
Net Income
73.71 102.61 39.21%
39.66 62.95 58.71%
EPS
10.4 14.5 39.21%
5.6 8.9 58.71%
Gross Profit Margin
32.6% 31.9% -0.7%
32.3% 31.5% -0.8%
Operating Profit Margin
2.4% 3.7% 1.3%
2.6% 4.7% 2.1%
Net Profit Margin
3.5% 4.3% 0.8%
3.7% 4.8% 1.1%
BSDE – PT Bumi Serpong Damai announced its 2Q12 results:
BSDE (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
1,289 1,603 24.42%
800 803 0.37%
Gross Profit
798 1,007 26.15%
499 508 1.96%
Operating Profit
449 567 26.11%
260 307 17.99%
Pretax Earnings
526 677 28.55%
341 336 -1.28%
Net Income
388 507 30.58%
265 242 -8.86%
EPS
22.2 29.0 30.58%
15.1 13.8 -8.86%
Gross Profit Margin
62.0% 62.8% 0.9%
62.3% 63.3% 1.0%
Operating Profit Margin
34.9% 35.3% 0.5%
32.5% 38.2% 5.7%
Net Profit Margin
30.1% 31.6% 1.5%
33.1% 30.1% -3.0%
SMAR – PT Sinar Mas Agro Resources announced its 2Q12 results:
SMAR (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
16,348 13,587 -16.89%
7827 5760 -26.41%
Gross Profit
4,134 3,254 -21.28%
1833 1422 -22.42%
Operating Profit
1414 1663 17.63%
960 704 -26.71%
Pretax Earnings
1535 1494 -2.70%
881 613 -30.41%
Net Income
1159 1112 -4.05%
652 460 -29.52%
EPS
403.6 387.3 -4.05%
227.2 160.1 -29.52%
Gross Profit Margin
25.3% 24.0% -1.3%
23.4% 24.7% 1.3%
Operating Profit Margin
8.7% 12.2% 3.6%
12.3% 12.2% 0.0%
Net Profit Margin
7.1% 8.2% 1.1%
8.3% 8.0% -0.4%
CORPORATE NEWS - cont’d
KRAS – PT Krakatau Steel announced its 2Q12 results:
KRAS (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
8,411 11,023 31.06%
5718 5305 -7.22%
Gross Profit
904 860 -4.79%
481 380 -21.00%
Operating Profit
326 212 -35.03%
164 48 -70.83%
Pretax Earnings
1480 145 -90.20%
67 78 17.84%
Net Income
1096 107 -90.22%
59 48 -17.89%
EPS
69.5 6.8 -90.22%
3.7 3.1 -17.89%
Gross Profit Margin
10.7% 7.8% -2.9%
8.4% 7.2% -1.2%
Operating Profit Margin
3.9% 1.9% -2.0%
2.9% 0.9% -2.0%
Net Profit Margin
13.0% 1.0% -12.1%
1.0% 0.9% -0.1%
LPCK – PT Lippo Cikarang announced its 2Q12 results:
LPCK (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
389 492 26.55%
254 238 -6.34%
Gross Profit
157 247 56.93%
122 124 1.64%
Operating Profit
123 205 66.75%
102 103 0.51%
Pretax Earnings
116 208 79.30%
103 106 3.02%
Net Income
98 185 87.45%
90 95 5.51%
EPS
141.5 265.3 87.45%
129.1 136.2 5.51%
Gross Profit Margin
40.5% 50.2% 9.7%
48.2% 52.3% 4.1%
Operating Profit Margin
31.6% 41.7% 10.1%
40.3% 43.2% 2.9%
Net Profit Margin
25.3% 37.5% 12.2%
35.4% 39.8% 4.5%
CPIN – PT Charoen Pokphand Indonesia announced its 2Q12 results:
CPIN (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
8,864 10,240 15.53%
4894 5346 9.24%
Gross Profit
1,913 2,678 39.97%
1251 1426 13.99%
Operating Profit
1587 2206 39.02%
1035 1171 13.08%
Pretax Earnings
1601 2165 35.17%
1021 1144 12.09%
Net Income
1252 1690 34.93%
784 906 15.57%
EPS
76.4 103.0 34.93%
47.8 55.2 15.57%
Gross Profit Margin
21.6% 26.2% 4.6%
25.6% 26.7% 1.1%
Operating Profit Margin
17.9% 21.5% 3.6%
21.2% 21.9% 0.7%
Net Profit Margin
14.1% 16.5% 2.4%
16.0% 16.9% 0.9%
CORPORATE NEWS - cont’d
MTLA - PT Metropolitan Land announced its 2Q12 results:
MTLA (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
246 316 28.62%
152 164 8.15%
Gross Profit
130 166 27.18%
80 86 7.37%
Operating Profit
85 96 12.60%
52 44 -14.99%
Pretax Earnings
77 99 27.80%
43 56 31.48%
Net Income
63 81 27.85%
43 38 -10.45%
EPS
8.3 10.7 27.85%
5.6 5.0 -10.45%
Gross Profit Margin
53.1% 52.5% -0.6%
52.7% 52.3% -0.4%
Operating Profit Margin
34.6% 30.3% -4.3%
34.1% 26.8% -7.3%
Net Profit Margin
25.7% 25.6% -0.2%
28.1% 23.2% -4.8%
ARII – PT Atlas Resources announced its 2Q12 results:
ARII (USD mio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
43 44 2.02%
18 26 41.15%
Gross Profit
11 10 -13.07%
4 6 41.96%
Operating Profit
5 2 -65.20%
0 2 1594.38%
Pretax Earnings
4 1 -81.38%
1 0 -139.19%
Net Income
3 1 -80.05%
1 -1 -148.03%
EPS
0.0010 0.0002 -80.05%
0.0004 -0.0002 -148.03%
Gross Profit Margin
25.8% 22.0% -3.8%
21.9% 22.0% 0.1%
Operating Profit Margin
10.7% 3.7% -7.1%
0.5% 5.9% 5.4%
Net Profit Margin
7.1% 1.4% -5.7%
6.5% -2.2% -8.7%
SCMA – PT Surya Citra Media announced its 2Q12 results:
SCMA (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
1,115 973 -12.71%
449 524 16.73%
Operating Profit
518 479 -7.50%
220 259 17.57%
Pretax Earnings
509 476 -6.42%
215 262 21.76%
Net Income
383 362 -5.32%
163 199 21.96%
EPS
196.2 185.8 -5.32%
83.7 102.1 21.96%
Operating Profit Margin
46.4% 49.2% 2.8%
49.0% 49.3% 0.4%
Net Profit Margin
34.3% 37.2% 2.9%
36.3% 38.0% 1.6%
LPPF – PT Matahari Department Store announced its 2Q12 results:
LPPF (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
1,864 2,226 19.44%
1034 1192 15.33%
Gross Profit
1,224 1,469 19.99%
671 798 18.99%
Operating Profit
374 510 36.13%
207 303 46.02%
Pretax Earnings
117 282 141.89%
96 186 94.56%
Net Income
18 157 764.52%
45 112 150.19%
EPS
6.2 54.0 764.52%
15.4 38.6 150.19%
Gross Profit Margin
65.7% 66.0% 0.3%
64.9% 66.9% 2.1%
Operating Profit Margin
20.1% 22.9% 2.8%
20.0% 25.4% 5.3%
Net Profit Margin
1.0% 7.1% 6.1%
4.3% 9.4% 5.1%
CORPORATE NEWS - cont’d
SSIA – PT Surya Semesta Internusa announced its 6m12 results:
SSIA (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
1,542 1,767 14.56%
883 884 0.09%
Gross Profit
401 636 58.75%
349 287 -17.76%
Operating Profit
241 464 92.36%
274 190 -30.61%
Pretax Earnings
213 443 107.67%
262 181 -30.97%
Net Income
133 372 180.56%
223 149 -33.01%
EPS
28.2 79.1 180.56%
47.3 31.7 -33.01%
Gross Profit Margin
26.0% 36.0% 10.0%
39.6% 32.5% -7.1%
Operating Profit Margin
15.7% 26.3% 10.6%
31.0% 21.5% -9.5%
Net Profit Margin
8.6% 21.1% 12.5%
25.2% 16.9% -8.3%
PWON – PT Pakuwon Jati announced its 2Q12 results:
PWON (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
654 1,049 60.37%
494 555 12.45%
Gross Profit
323 606 87.65%
276 329 19.23%
Operating Profit
275 540 96.39%
239 302 26.27%
Pretax Earnings
239 439 83.49%
204 234 14.70%
Net Income
175 364 107.44%
170 193 13.31%
EPS
3.6 7.5 107.44%
3.5 4.0 13.31%
Gross Profit Margin
49.3% 57.7% 8.4%
55.9% 59.3% 3.4%
Operating Profit Margin
42.1% 51.5% 9.4%
48.4% 54.3% 5.9%
Net Profit Margin
26.8% 34.7% 7.9%
34.5% 34.8% 0.3%
TPIA – PT Chandra Asri Petrochemical announced its 2Q12 results:
TPIA (USD mio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ
Revenue
1,141 1,162 1.77%
598 564 -5.60%
Gross Profit
83 8 -90.25%
18 -10
Operating Profit
53 -22
2 -24
Pretax Earnings
33 -56
-18 -38
Net Income
26 -45
-15 -30
EPS
0.009 -0.015
-0.005 -0.010
Gross Profit Margin
7.3% 0.7% -6.6%
3.0% -1.7%
Operating Profit Margin
4.6% -1.9%
0.4% -4.3%
Net Profit Margin
2.3% -3.9%
-2.5% -5.3%
Disclaimer
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