Building Strength Through Challenges
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BUILDING STRENGTH THROUGH CHALLENGES Annual Report 2019 PT Wintermar Offshore Marine Tbk 03 Pengantar/Introduction — Wintermar enters its 50th 04 Ikhtisar 2019/2019 Highlights — 16 Profil Perusahaan/Company Profile — year in 2020. Growing and 28 Laporan Komisaris Utama/President Commissioner’s Report 33 Dewan Komisaris/Board of Commissioners 36 Laporan Direktur Utama/Managing Director’s Report adapting to change over 44 Direksi/Board of Directors — 50 Analisis dan Pembahasan Manajemen/ the past half century has Management Discussion and Analysis 62 Tata Kelola Perusahaan/Corporate Governance 90 Tanggung Jawab Sosial Perusahaan/ shaped a resilient company Corporate Social Responsibility 104 Informasi Perusahaan/Corporate Information 110 Surat Penyataan Dewan Komisaris dan Direksi/ with the capacity to bounce Statement from the Board of Commissioners & Directors — 111 Laporan Keuangan Konsolidasian/ Consolidated Financial Statements back from difficulties and — 187 Laporan Tahunan dan Referensi Peraturan OJK/ Annual Report & Reference to OJK Rules seek new opportunities, building strength through challenges to emerge STRONGER than before. 2 ANNUAL REPORT 2019 PT WINTERMAR OFFSHORE MARINE TBK 3 IKHTISAR KEUANGAN Financial Highlights Pendapatan Biaya langsung Posisi Keuangan 2017 2018 2019 Financial Position Revenue Direct expense (Dalam Jutaan US$) (In Million US$) Juta US$/million US$ Juta US$/million US$ Aset Assets Kas dan setara kas 6,1 4,4 3,9 Cash and cash equivalents 61,96 62,75 59,48 61,79 57,36 56,09 Aset lancar lainnya 25,7 29,8 31,6 Other current assets Aset tidak lancar 306,7 240,8 212,2 Non current assets Total aset 338,5 275,0 247,7 Total assets Liabilitas dan Ekuitas Liabilities and Equity Liabilitas jangka pendek 49,0 55,4 60,4 Current liabilities Liabilitas jangka panjang 88,1 48,4 32,1 Non-current liabilities Total liabilitas 137,2 103,9 92,5 Total liabilities 2017 2018 2019 2017 2018 2019 Kepentingan non pengendali 32,5 22,2 19,4 Non controlling interest Total ekuitas pemegang saham 168,8 149,0 135,9 Total shareholders' equity Total ekuitas 201,3 171,2 155,2 Total equity Total liabilitas dan ekuitas 338,5 275,0 247,7 Total liabilities and equity Laba Rugi Statement of Income Pendapatan 62,0 62,8 56,1 Revenue Biaya tidak EBITDA Beban Langsung 59,5 61,8 57,4 Direct expenses langsung EBITDA Laba Bruto 2,5 1,0 -1,3 Gross profit Indirect expense Juta US$/million US$ Beban Usaha dan Lainnya 31,4 28,3 11,7 Operating and other expenses Juta US$/million US$ Laba Usaha -28,9 -27,4 -12,9 Income from operation 7,73 6,95 7,54 Laba Bersih -27,1 -25,4 -13,3 Net income 22,29 20,81 14,92 EBITDA 59,5 20,8 14,9 EBITDA Rasio Pertumbuhan Growth Ratio Pendapatan -30% 1% -11% Revenue Laba Bruto -82% -61% -233% Gross profit Laba Bersih 110% 6% 48% Net income EBITDA -33% 7% 28% EBITDA 2017 2018 2019 2017 2018 2019 Rasio Usaha Operating Ratio Margin Laba Bruto 4,00% 1,53% -2,27% Gross Profit Margin Margin Laba Usaha -46,68% -43,59% -23,05% Income fr Operation Margin Margin Laba Bersih -43,75% -40,54% -23,77% Net Profit Margin Laba Bersih/Aset - ROA -8,01% -9,25% -5,38% Net Income/Assets - ROA Laba Bersih/Ekuitas - ROE -16,05% -17,07% -9,81% Net Income/Equity - ROE Jumlah ekuitas & Rasio hutang Rasio Keuangan Financial Ratio liabilitas bersih terhadap Rasio Lancar 0,65 0,62 0,59 Current Ratio Total equity & liabilities ekuitas Total Liabilitas/Total Aset 0,41 0,38 0,37 Total Liabilities/Total Assets Net debt to equity ratio (%) Juta US$/million US$ Total Liabilitas/Total Ekuitas 1,01 0,82 0,79 Liabilities to Equity Ratio 50 37 38 EBITDA/Beban Bunga 2,93 3,84 3,12 EBITDA/Interest Expense 92,51 171,17 137,18 155,24 201,34 103,86 Rasio Gearing 50% 37% 38% Gearing Ratio Informasi Lain Other Information Nilai Buku per Saham (Rp) 564 509 489 Book Value per Share (Rp) Total Pinjaman (Juta US$) 109,8 68,7 62,7 Total Debt (million US$) Nilai Buku Armada (Juta US$) 278,9 217,8 208,3 Book Value of Fleet (million US$) * Dibandingkan periode 12 bulan yang berakhir pada Desember 2019 2017 2018 2019 2017 2018 2019 Compared to period of 12 months ended December 2019 Total Equity Total Liabilities 4 ANNUAL REPORT 2019 PT WINTERMAR OFFSHORE MARINE TBK 5 IKHTISAR SAHAM Stock Highlights Kronologis Pencatatan Saham dan Jumlah Saham Kinerja Saham Share Listing and Stock Chronology Stock Performance Keterangan Jumlah Saham Harga per Saham Pencatatan Saham WINS share price (Rp) WINS vol (Million Shares) Description Number of Shares Price per Share (Rp) Share Listing 900 500 IPO 900,000,000 380 29 November 2010 800 450 Indonesia Stock Exchange 700 400 Stock Warrant Seri I 57,287,232 450 350 600 MESOP I Tranche 1 Program 11,865,525 300 300 500 MESOP I Tranche 2 Program 11,766,200 310 250 400 MESOP 2 15,729,000 390 200 300 150 Dividen Saham/Share Dividend 57,807,429 540 21 June 2013 Indonesia Stock Exchange 200 100 Konversi Hutang/Convertible Loan 190,000,000 492 14 April 2014 100 50 Indonesia Stock Exchange - - Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Saham Non HMETD/Placement of 116,917,000 800 2 May 2014 Shares with Non Pre-emptive Rights Indonesia Stock Exchange 2015 2016 2017 2018 2019 Dividen Saham/Share Dividend 26,548,163 1,160 15 July 2014 Indonesia Stock Exchange Saham Non HMETD/Placement of 200,000,000 350 14 February 2018 Volume Highest Lowest Closing Shares with Non Pre-emptive Rights Saham Non HMETD/Placement of 5,000,000 120 6 December 2019 Shares with Non Pre-emptive Rights Amount of Shares 4,243,011,640 Rincian Aksi Korporasi Wintermar tidak mendistribusikan dividen saham atau dividen tunai kepada Details of Corporate Action para pemegang saham di tahun 2019 untuk tahun buku 2018. Data Saham dan Kapitalisasi Pasar per Triwulan (2018–2019) Perusahaan menerbitkan 5 juta saham baru tanpa Hak Memesan Efek Terlebih Share and Market Capitalization Data per Quarter (2018–2019) Dahulu dengan harga Rp 120/saham pada 6 Desember 2019, meningkatkan keseluruhan jumlah saham yang diterbitkan, dari 4.238.011.640 menjadi 4.243.011.640. Jan-Mar Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec 2018 2018 2018 2018 2019 2019 2019 2019 The Company did not distribute any stock or cash dividends to the shareholders in 2019 for financial year 2018. Outstanding Stock 4.238.011.640 4.238.011.640 4.238.011.640 4.238.011.640 4.238.011.640 4.238.011.640 4.238.011.640 4.243.011.640 The Company issued 5 million new shares with Non Pre-emptive Rights at Kapitalisasi Pasar/ 1.457.876.004.160 1.305.307.585.120 1.152.739.166.080 932.362.560.800 974.742.677.200 796.746.188.320 584.845.606.320 509.161.396.800 Market Capitalized Rp 120/share on 6 December 2019, increasing the total number of issued (Rp) shares from 4,238,011,640 to 4,243,011,640. Harga Saham/Share Price (Rp) Tertinggi/Highest 396 430 310 286 246 230 208 151 Terendah/Lowest 294 288 254 204 202 186 138 119 Perdagangan Saham Selama tahun 2019 tidak ada penghentian sementara perdagangan dan/atau Penutupan/Closing 344 308 272 220 230 188 138 120 Perseroan penghapusan pencatatan saham. Share Trading Volume 26.756.200 112.938.400 18.647.000 108.061.700 12.374.400 5.108.900 138.341.700 72.198.110 Perdagangan/ No suspension nor delisting during financial year 2019. Trading Volume 6 ANNUAL REPORT 2019 PT WINTERMAR OFFSHORE MARINE TBK 7 WILAYAH OPERASIONAL Areas of Operation Indonesia Natuna, Batam, Palembang, Jakarta, Lamongan, Gresik, Selat Madura, Pagengan, Sumbawa, Nunukan, Sangatta, Balikpapan, Ambon, Sorong, Bintuni, Cirebon, BANGLADESH Pangkal Balam-Bangka Belitung, MIDDLE EAST Bontang, and Kendari. MYANMAR INDIA Worldwide THAILAND Malaysia, Brunei, Myanmar, MALAYSIA MICRONESIA Thailand, India, Bangladesh, BRUNEI Papua New Guinea, Micronesia, AFRICA Middle East, and Africa. PAPUA INDONESIA NEW GUINEA 1,6 1 4 11 Kontribusi Komposisi Jumlah Kapal Umur rata-rata 41,8 Pendapatan Nilai Armada berdasarkan armada Revenue 52 Kapal 47 Jenis Average age of fleet LOW TIER MID TIER HIGH TIER Contributions 56,6 Composition Number of by Fleet (%) of Fleet Value vessels by type (%) 9.6 Tahun/Years 33 8 ANNUAL REPORT 2019 PT WINTERMAR OFFSHORE MARINE TBK 9 KARYAWAN Employees Jumlah Karyawan Berdasarkan Jenis Kelamin Total Number of Employee Based on Gender Jenis Kelamin/ Pria/ Wanita/ Jumlah/ Gender Male Female Total Our crew experience Karyawan/Staff 117 55 172 Awak Kapal/Crew 547 2 549 is built on empowering Total 664 57 721 and encouraging individuals to make Jumlah Karyawan Berdasarkan Usia Total Number of Employee Based Age a positive impact. Usia/ < 30 30–50 > 50 Jumlah/ Umur years old years old years old Total Karyawan/Staff 42 118 12 172 Awak Kapal/Crew 137 389 23 549 Jumlah/Total 179 507 35 721 Jumlah Karyawan Berdasarkan Tingkat Pendidikan Total Number of Employee Based on Level of Education Pendidikan/ Pria/ Wanita/ Jumlah/ Education Male Female Total Graduate-Post Graduate 76 48 124 Senior High School–Diploma 41 7 48 Jumlah/Total 117 55 172 Jumlah Awak Kapal Berdasarkan Tingkat Pendidikan Total Number of Crew Based on Level of Education Pendidikan/ Pria/ Wanita/ Jumlah/ Education Certificate Level Male Female Total Deck Officer Class I 40 – 40 Engine Officer Class 1 30 – 30 Deck Officer Class II 30 – 30 Engine Officer Class II 43 – 43 Deck Officer Class III 44 2 46 Engine Officer Class III 46 – 46 Deck Officer Class IV 7 – 7 Engine Officer Class IV 6 – 6 Deck Officer Class V 14 – 14 Engine Officer Class V 13 – 13 Rating 274 – 274 Jumlah/Total 547 2 549 10 ANNUAL REPORT 2019 PT WINTERMAR OFFSHORE MARINE TBK 11 PERISTIWA PENTING 2019 Significant Events 2019 Sistem Manajemen Terpadu Wintermar berhasil mendapatkan akreditasi dan sertifikasi untuk Jan.