1 Ikhtisar kinerja 2018 2018 Performance Highlights SCHOOL Reinforcing NewFor Horizons - Laporan Tahunan 2018 Annual Report - PT INDO KORDSA TBK 2018 Annual Report | PT Indo Kordsa Tbk Sanggahan dan Batasan Tanggung Jawab Disclaimer and Limitation of Responsibility Laporan Tahunan ini memuat pernyataan kondisi This Annual Report contains statements of keuangan, hasil operasi, proyeksi, rencana, the Company’s financial condition, operational strategi, kebijakan serta tujuan Perseroan, yang result, projection, planning, strategy, policy and digolongkan sebagai pernyataan ke depan dalam objective, which subsumed as future statement pelaksanaan Perundang-undangan yang berlaku, in implementing prevailing legislation, except kecuali hal-hal yang bersifat historis. Pernyataan- historical matters. Those statements contain the pernyataan tersebut memiliki prospek risiko, prospect of risks, uncertainty and ability to cause ketidakpastian serta dapat mengakibatkan actual development materially different from perkembangan aktual secara material berbeda the reported. dari yang dilaporkan. Pernyataan-pernyataan prospektif dalam Annual Report was made based on various Laporan Tahunan ini dibuat berdasarkan berbagai assumptions regarding the current and future asumsi mengenai kondisi terkini dan kondisi conditions of the Company, as well as business mendatang Perseroan serta lingkungan bisnis di environment where the Company operates mana Perseroan menjalankan kegiatan usaha. its business activity. The Company does not Perseroan tidak menjamin bahwa dokumen- guarantee that the documents, which validity dokumen yang telah dipastikan keabsahannya has been ascertained, will bring certain results as akan membawa hasil-hasil tertentu sesuai previously expected. harapan. Laporan Tahunan ini memuat kata “Perseroan” This Annual Report contains the word “The yang didefinisikan sebagai PT Indo Kordsa Tbk. Company”, which defined as PT Indo Kordsa Tbk. DAFTAR ISI TABLE OF CONTENTS Ikhtisar Kinerja 2018 Kronologi Pencatatan Saham 60 2018 Performance Highlights Share Listing Chronology 01 Kronologis Pencatatan Efek Lainnya 61 Other Securities Highlights and Chronology Ikhtisar Keuangan 8 Nama dan Alamat Lembaga/Profesi Penunjang Pasar Modal 61 Financial Highlights Stock Market Supporting Profession/Institution Name and Address Ikhtisar Saham 10 Peristiwa Penting 62 Stock Highlights Event Highlights Ikhtisar Obligasi 10 Penghargaan dan Sertifikasi Tahun 2018 68 Bond Highlights Awards and Certifications 2018 Alamat Kantor 70 Office Address Informasi Mengenai Website Perusahaan 70 Laporan Manajemen Information About Company Website 02 Management Report Laporan Dewan Komisaris 14 Report from the Board of Commissioners Analisis dan Pembahasan Manajemen Laporan Direksi 20 04 Management Discussion and Analysis Report from the Board of Directors Tinjauan Makroekonomi Global dan Nasional 74 Global and National Macroeconomics Review Profil Perusahaan Tinjauan Operasional Per Segmen Usaha 75 03 Company Profile Operational Review by Business Segment Profitabilitas Per Segmen Usaha 78 Profitability by Segment Identitas Perusahaan 28 Tinjuan Keuangan 79 Company Identity Financial Review Riwayat Singkat 28 Aset 79 Brief History Asset Tonggak Sejarah 30 Liabilitas 82 Milestones Liabilities Bidang Usaha 32 Ekuitas 83 Line of Business Equity Wilayah Operasi 33 Laporan Laba Rugi 84 Operation Area Statements of Profit or Loss Visi, Misi dan Nilai Perusahaan 34 Laporan Arus Kas 88 Vision, Mission and Corporate Values Cash Flows Budaya Perusahaan 36 Kemampuan Membayar Hutang 90 Corporate Culture Solvency Struktur Organisasi 38 Kolektabilitas Piutang 91 Organization Structure Collectible Receivables Profil Dewan Komisaris 40 Struktur Modal dan Kebijakan atas Struktur Modal 92 Profile of the Board of Commissioners Capital Structure and Capital Structure Policy on Capital Profil Direksi 46 Ikatan Material Untuk Investasi Barang Modal 93 Profile of the Board of Directors Material Commitment for Capital Investment Pernyataan Dewan Komisaris Tentang Tanggung Jawab 54 Informasi Dan Fakta Material Setelah Tanggal Laporan Akuntan 93 Atas Laporan Tahunan 2018 Material Information and Facts Subsequent Accounting Reports Statements of Responsibility of the Board of Commissioners Prospek Usaha 93 Regarding 2018 Annual Report Business Prospect Pernyataan Direksi Tentang Tanggung Jawab 55 Perbandingan Target dan Realisasi Tahun 2018 94 Atas Laporan Tahunan 2018 Comparison of Target and Realization 2018 Statements of Responsibility of the Board of Directors Proyeksi Tahun 2019 95 Regarding 2018 Annual Report 2019 Projection Sumber Daya Manusia 57 Aspek Pemasaran 96 Human Capital Development Marketing Aspects Komposisi Pemegang Saham 58 Kebijakan dan Pembayaran Dividen 97 Shareholders Composition Dividend Policy and Payment Struktur Grup Perusahaan 60 Program Kepemilikan Saham Oleh Karyawan dan/atau Manajemen Corporate Group Structure (ESOP/MSOP) 98 Informasi Anak Perusahaan 60 Employee and/or Management Stock Option Plan (ESOP/MSOP) Subsidiaries Informasi Material Mengenai Investasi, Ekspansi, Divestasi, Akuisisi Program Kepemilikan Saham Karyawan dan/atau Atau Restrukturisasi Utang/Modal 98 Manajemen (ESOP/MSOP) 161 Material Information on Investment, Expansion, Divestment, Employee and/or Management Stock Option Plan (ESOP/MSOP) Acquisition or Debt/ Capital Restructuring Sistem Pelaporan Pelanggaran 161 Perubahan Peraturan Perundang-Undangan 100 Whistleblowing System Changes to the Laws and Regulations Perubahan Kebijakan Akuntansi 101 Change in Accounting Policy 06 Sumber Daya Manusia Tata Kelola Perusahaan Human Capital Development 05 Good Corporate Governance Kebijakan Pengembangan Sumber Daya Manusia 168 Landasan Penerapan GCG 104 Human Resources Development Policy GCG Implementation Framework Rekrutmen dan Karier Manajemen 169 Asesmen GCG 106 Recruitment and Career Management GCG Assessment Demografi Karyawan 169 Rapat Umum Pemegang Saham 114 Employee Demography General Meeting of Shareholders Pengembangan SDM 170 Dewan Komisaris 116 People Development Board of Commissioners Hubungan Industrial 175 Direksi 119 Industrial Relation Board of Directors Pelaksanaan Rapat Direksi dan Dewan Komisaris 126 Board of Directors and Board of Commissioners Meeting Penilaian Kinerja Dewan Komisaris dan Direksi 130 Board of Commissioners and Board of Directors Performance 07 Assessment Tanggung Jawab Sosial Perusahaan Kebijakan Remunerasi Dewan Komisaris dan Direksi 132 Corporate Social Responsibility Remuneration Policy of the Board of Commissioners and Board of Directors Hubungan Afiliasi 133 Kebijakan Tanggung Jawab Sosial Perseroan (CSR) 178 Affiliations Corporate Social Responsibility (CSR) Policy Kebijakan Keberagaman Dewan Komisaris dan Direksi 133 Tanggung Jawab Bidang Keselamatan dan Kesehatan Kerja (K3) 182 Diversity of Board of Commissioners and Board of Directors Policy Responsibility in Occupational Health and Safety (OHS) Komite Audit 134 Tanggung Jawab Sosial Aspek Sosial Kemasyarakatan 188 Audit Committee Social Responsibility on Social and Community Aspect Komite Nominasi dan Remunerasi 141 Tanggung Jawab Sosial Terhadap Produk, 190 Nomination and Remuneration Committee Jasa dan Pelanggan Sekretaris Perusahaan 144 Social Responsibility on Products, Service and Customers Corporate Secretary Unit Audit Internal 149 Internal Audit Unit Laporan Keuangan 191 Sistem Pengendalian Internal 152 Financial Statements Internal Control System Manajemen Risiko 155 Risk Management Fungsi Audit Eksternal 157 External Audit Function Perkara Hukum dan Sanksi Administratif 158 Legal Cases and Administrative Sanctions Akses Informasi 158 Information Access Keterbukaan Informasi, Komunikasi dan Hubungan dengan Pemangku Kepentingan 158 Information Disclosure Communication and Stakeholder Relations Kode Etik 159 Code of Conduct Pernyataan Budaya Perseroan 160 Corporate Culture Statement IKHTISAR KINERJA 2018 2018 PERFORMANCE HIGHLIGHTS Pencapaian kinerja Perseroan di tahun 2018 didukung oleh strategi dalam menciptakan disiplin operasional cost-efficiency yang meliputi seluruh aktivitas operasional serta kebijakan keuangan berdasarkan perencanaan yang prudent dan cermat untuk mencapai profitabilitas. The achievement made in 2018 are driven by better operational discipline actions and certain cost efficiency strategies covering every single operational activity and financial policies based on prudent and meticulous planning to achieve profitability. 01 8 Ikhtisar kinerja 2018 2018 Performance Highlights Ikhtisar Keuangan Financial Highlights Posisi Keuangan Konsolidasian Consolidated Statements of Financial Position Keterangan / Description 2018 2017 2016 Dalam ribuan Dollar Amerika Serikat (AS) / In thousand US Dollar Jumlah Aset Lancar 108,415 116,543 112,618 Total Current Assets Jumlah Aset Tidak Lancar 187,985 187,941 183,442 Total Noncurrent Assets Jumlah Aset 296,400 304,484 296,060 Total Assets Jumlah Liabilitas Jangka Pendek 50,454 48,786 59,560 Total Current Liabilities Jumlah Liabilitas Jangka Panjang 25,584 38,628 38,756 Total Noncurrent Liabilities Jumlah Liabilitas 76,038 87,414 98,316 Total Liabilities Kepentingan Non-pengendali 16,295 17,250 17,884 Noncontrolling Interest Ekuitas yang Diatribusikan Kepada Pemilik Perusahaan 204,067 199,820 179,860 Equities Attributed to The Owners of the Company Jumlah Ekuitas 220,362 217,070 197,744 Total Equity Jumlah Liabilitas dan Ekuitas 296,400 304,484 296,060 Total Liabilities and Equity Laba Rugi Komprehensif Konsolidasian Consolidated Statements