Consolidated Statements of Income Key Performance Drivers
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31 DECEMBER 09 Consolidated Statements of Income In Billion Rupiah 2009 2008 % Chg USD / IDR 9,400 10,950 -14% Revenue 98,526 97,064 2% Gross Profit 22,771 21,730 5% Operating Income 12,756 11,876 7% EBITDA 16,857 15,095 12% Other Income 1,079 1,083 0% Equity Income 2,567 2,404 7% Income Tax (3,958) (4,065) n.a Minority Interests (2,404) (2,107) n.a Net Income 10,040 9,191 9% Key Performance Drivers: • Wholesale car market declined by 20% yoy to 486,061 units while Astra car sales decreased by 12% yoy to 281,013 units. Wholesale motorcycle market dropped by 6% to 5,851,962 units, while Honda sales declined in line with the market to 2,701,278 units. • The contribution from Astra's consumer finance operations has increased mainly due to the growth in the loan books over the business cycle. • Agribusiness revenue decreased by 9% yoy due to fluctuation in crude palm oil prices. For the first time, CPO production achieved more than one million tons or 10% increased from last year. • Komatsu unit sales decreased by 28% from 4,345 units (2008) to 3,111 units (2009), However the negative effect on earnings was offset by higher revenues from parts and services. As the largest mining contractor in Indonesia, Pama benefited from continued expansion of coal production in Indonesia. During the period, coal extracted increased by 15% to 68 million tonnes and overburden removed rose by 35% to 597.9 million bcm. The group’s own coal mining activity produced 2.4 mn tonnes coal and contributed 10% to UT’s revenue 31 DECEMBER 09 Investor Update Divisional Revenue In Billion Rupiah 6M’04 6M’032009 % Chg2008 % Chg 4W 34,702 35,247 -2% 2W 9,450 9,823 -4% Components 5,249 5,306 -1% Financial Services 8,261 7,774 6% Agribusiness 7,424 8,161 -9% Heavy Equipment 29,181 27,775 5% Others 4,259 2,978 43% Total 98,526 97,064 2% Divisional Net Profit In Percentage of Total 6M’04 6M’032009 % Chg2008 4W 24.1% 22.7% 1.4% 2W 13.9% 16.8% -2.9% Components 7.0% 5.1% 1.9% Financial Services 17.4% 15.1% 2.3% Agribusiness 12.6% 21.4% -8.8% Heavy Equipment 21.9% 16.1% 5.8% Others 3.1% 2.8% 0.3% Important Events: Launching Engine Prices Prev. Prices Recent Models Lauched Time Capacity (IDR mn) (IDR mn) Car Avanza 1.3 G A/T Nov-09 1,300cc 156.5 - Xenia 1.3 AT Nov-09 1,300cc 141.6 - Luxio White Premier Dec-09 1,500cc 157.5 - Terios White Cruiser Dec-09 1,500cc 190.3 - BMW X5 M Dec-09 4,400cc 2,200-2,400 - Toyota Dyna 130 HT Jan-10 - 185.1-237.3 - Toyota Dyna 130 XT Jan-10 - 185.1-237.3 - Toyota Dyna 110 ET Jan-10 - 185.1-237.3 - Toyota Dyna 110 FT Jan-10 - 185.1-237.3 - Toyota Dyna 110 ST Jan-10 - 185.1-237.3 - BMW X6 M Jan-10 4,500cc 2,300-2,800 - Toyota Rush G Automatic Jan-10 1,500cc 198.2 - Terios TS Matic Jan-10 1,500cc 166.6 - Grand Max Improvement Jan-10 1,300cc/1,500cc 114.1-129.4 - New Lexus LS460L Jan-10 4,600cc 2,012 - Motorcycle New Beat Jan-10 110cc 12.5 12 • Astra appointed Mr. Prijono Sugiarto as Acting President Director of PT Astra International Tbk effective 21 January 2010, following the untimely demise of Mr. Michael D. Ruslim. • Astra paid interim dividend of IDR 290 per share on November 2009 and will propose a final dividend of IDR 830 per share to Annual General Meeting of Shareholders, and will bring the total dividend to IDR 1,120 per share (2008: IDR 870 per share). Investor Update Consolidated Balance Sheet In Billion Rupiah 2009 2008 % Chg Cash and Cash Equivalent 8,732 8,785 -1% Trade Receivables 7,579 6,167 23% Inventories 7,282 8,666 -16% Financing Receivables 20,733 18,100 15% Investment in Associates and Jointly 11,484 10,636 8% Controlled Entities Fixed Assets 21,941 18,742 17% Other Assets 11,187 9,644 16% Total Assets 88,938 80,740 10% Short Term Loan 2,430 5,185 -53% Trade Payables 7,278 6,815 7% Long Term Loan 19,491 18,348 6% Other Liabilities 10,807 9,815 10% Total Liabilities 40,006 40,163 0% Minority Interest 9,038 7,497 21% Equity 39,894 33,080 21% Net Debt (Cash) 13,180 14,656 -10% Net Debt (Cash) (Excl. Financial Services) (729) 1,846 -139% Consolidated Statements of Cash Flows In Billion Rupiah 2009 2008 EBITDA 16,857 15,095 1,762 Working Capital (1,790) (3,493) 1,703 Net Interest 28 15 13 Net Capex (5,112) (4,734) (378) Current Tax (4,373) (3,224) (1,149) Others (1,083) 854 (1,937) Cash Flow from Operation 4,527 4,513 14 Net Dividend (2,503) (2,322) (181) Net Investment (548) (3,324) 2,776 Opening Net Cash (Debt) (14,656) (13,523) (1,133) Closing Net Cash (Debt) (13,180) (14,656) 1,476 31 DECEMBER 09 Investor Update Automotive Review Car Market Share* Motorcycle Market Share* Others Others 12.7% 0.6% Toyota 34.9% Kawasaki Honda 0.7% 8.6% Suzuki 12.8% 2008 Suzuki 12.0% Mitsubishi 14.4% Daihatsu Honda 12.8% Yamaha 46.2% Peugeot & Isuzu 39.7% N Diesel 4.2% 0.4% Others Others 12.1% 0.1% Toyota Kawasaki Honda 38.5% 0.9% 8.1% Suzuki 7.5% 2009 Suzuki 9.2% Mitsubishi Daihatsu 12.7% 16.0% Honda Peugeot & 46.2% N Diesel Isuzu Yamaha 0.3% 3.1% 45.3% *Car market is based on Gaikindo data. Motorcycle market is based on AISI data. 2009 2008 Wholesale Astra Wholesale Astra Major Brands Market Market Market Market (Unit) Share (Unit) Share Sedan 23,535 43% 35,462 49% Toyota - Vios/Limo, Altis, Camry; Honda - City, Civic; Mercedes - E Series, C Series 4X2 & 4X4 335,098 71% 388,986 64% Toyota - Avanza, Innova, Rush; Daihatsu - Xenia, Terios, Gran Max; Nissan - Grand Livina; Car Honda - Jazz, CRV, Freed; Suzuki - APV Pick Up 65,337 28% 93,972 30% Suzuki - Carry; Daihatsu - Gran Max; Mitsubishi - L300, T120SS Truck 62,091 25% 89,385 28% Mitsubishi - Canter; Toyota - Dyna; Isuzu - Elf Total 486,061 58% 607,805 52% Cub 3,022,894 55% 3,917,371 52% Honda - Absolute Revo, Supra X 125; Yamaha - Vega ZR/ZRD, Jupiter Z CW; Suzuki - New Shogun 125, New Smash Scooter 2,267,200 38% 1,613,673 33% Yamaha - Mio; Honda - Vario, BeAT Sport & Others 561,868 32% 684,821 45% Yamaha - V-ixion; Honda - New Mega Pro, Tiger/New Tiger; Suzuki - Satria F 150, Thunder EN 125 Motorcycle Total 5,851,962 46% 6,215,865 46% For further information: Investor Relations of PT Astra International Tbk - Attn: Novian Fitriawan / Tira Ardianti / Rully Anggia Ph: (62) (021) 652 2555 ext 144 / 145 / 147 Fax: (62) (021) 6530 4957 Email: [email protected] / [email protected] / [email protected] Disclaimer Notice : PT Astra International Tbk makes no representations or warranties as to the adequacy, completeness, suitability or alike for any purpose of the information contained in this release, and disclaim liability for any error or omissions therein and for any damages whatsoever or howsoever arising, including from any action taken in reliance on any information in this release. www.astra.co.id.