2017 Building a Sustainable Network Across Indonesia
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Report to Shareholders The Year in Review Corporate Governance 2017Laporan kepada Pemegang Saham Tahun dalam Kajian Tata Kelola Perusahaan a ANNUAL REPORT LAPORAN TAHUNAN Building a Sustainable Network Across Indonesia Laporan Tahunan 2017 Annual Report About CAS b Tentang CAS Indonesia has ambitious plans for economic growth, infrastructure investment, capacity building and balanced, inclusive development. Our skies offer significant potential for realising those plans and through our extensive on the ground network, CAS Group will play a unique role as a leading air transport and food solutions provider. Muara Teweh Tarakan Berau Medan Pontianak KUalanamU Batam INTERnatiONAL SUpadiO AIRPORT (KNO) Balikpapan HANG NADIM INTERnatiONAL INTERnatiONAL AIRPORT (PNK) Pekanbaru AIRPORT (BTH) SUltan AJI MUHAMMAD SUlaiman INTERnatiONAL AIRPORT (BPN) Padang SUltan MAHMUD Palembang BadaRUDDIN II INTERnatiONAL MINANGKABAU AIRPORT (PLM) Asam-asam INTERnatiONAL AIRPORT (PDG) Satui Bontang Jakarta Semarang HALIM SOEKARNO-Hatta Surabaya PERdanaKUSUMA INTERnatiONAL AHMAD YANI (HLP) AIRPORT (CGK) INTERnatiONAL JUanda AIRPORT (SRG) INTERnatiONAL Subang AIRPORT (SUB) Denpasar Purwakarta ADI SUciptO INTERnatiONAL AIRPORT (JOG) HUSEIN Jogjakarta SastRanegaRA INTERnatiONAL AIRPORT (BDO) Bandung LOMBOK PRaya INTERnatiONAL AIRPORT (LOP) Surakarta ADI SUMARMO Lombok INTERnatiONAL Cilacap AIRPORT (SOC) CAS Destination: there are two functional CAS Food: there are two functional companies - companies – JAS ground handling/passengers CASC and PMAD and JAE aircraft maintenance CAS Destination: terdapat dua perusahaan yang CAS Food: terdapat dua perusahaan yang menangani bidang ini – JAS (jasa penunjang menangani bidang ini – CASC dan PMAD transportasi udara) dan JAE (jasa perbengkelan penerbangan) PT Cardig Aero Services Tbk Report to Shareholders The Year in Review Corporate Governance Laporan kepada Pemegang Saham Tahun dalam Kajian Tata Kelola Perusahaan c Indonesia memiliki rencana yang ambisius untuk pertumbuhan ekonomi, peningkatan investasi pada pembangunan infrastruktur, pembangunan kapasitas secara imbang demi kepentingan semua pihak. Wilayah udara nusantara memiliki potensi yang besar untuk mewujudkan rencana tersebut, dan dengan jaringan luas di darat sebagai penunjang penerbangan, CAS Group akan memiliki peran yang unik sebagai perusahaan terkemuka yang memberikan solusi bagi transportasi udara dan jasa boga. Tarakan Manado SAM RatUlangin INTERnatiONAL AIRPORT (MDC) Makassar SUltan HASANUDDIN INTERnatiONAL AIRPORT (UPG) CAS Facility: there is one functional company - CAS People: there is one functional company - CASB JATC CAS Facility: terdapat satu perusahaan yang CAS People: terdapat satu perusahaan yang menangani bidang ini – CASB menangani bidang ini – JATC Laporan Tahunan 2017 Annual Report About CAS d Tentang CAS Contents Daftar Isi About CAS Tentang CAS 01 Financial Highlights 04 Ikhtisar Keuangan Shareholder Information 05 Informasi Pemegang Saham Company Profile 09 Profil Perseroan Report to Shareholders Laporan kepada Pemegang Saham 02 Report of the Board 22 of Commissioners Laporan Dewan Komisaris Report of the 28 Board of Directors Laporan Direksi The Year in Review Tahun dalam Kajian 03 Operating Review 38 Tinjauan Operasi Financial Review 56 Tinjauan Keuangan Corporate Social Responsibility 68 Tanggung Jawab Sosial Perusahaan PT Cardig Aero Services Tbk Report to Shareholders The Year in Review Corporate Governance Laporan kepada Pemegang Saham Tahun dalam Kajian Tata Kelola Perusahaan 01 Governance Tata Kelola 04 GCG principles and practice 74 Prinsip dan Praktek GCG General Meeting of Shareholders 80 Rapat Umum Pemegang Saham Board of Commissioners 83 Dewan Komisaris Board of Directors 93 Direksi Audit Committee 97 Komite Audit Nomination and Remuneration Committee 103 Komite Nominasi dan Remunerasi Corporate Secretary 105 Sekretaris Perusahaan Internal Audit Unit 106 Unit Audit Internal Risk Management System 111 Sistem Manajemen Risiko Whistleblowing Policy Implementation 116 Implementasi Kebijakan Whistleblowing Financial Statements Laporan Keuangan 05 Laporan Tahunan 2017 Annual Report About CAS 02 Tentang CAS PTPT Cardig AeroAero Services Tbk Report to Shareholders The Year in Review Corporate Governance 01Laporan kepada Pemegang Saham Tahun dalam Kajian Tata Kelola Perusahaan 03 About CAS Tentang CAS Financial Highlights Ikhtisar Keuangan 04 Shareholder Information Informasi Saham 05 Company Profile Profil Perseroan 09 Laporan Tahunan 2017 AnnualAnnual ReportReport About CAS 04 Tentang CAS Financial Highlights Ikhtisar Keuangan 2017 2016* 2015 Revenue 2.057.649.583 1.815.773.466 1.631.764.589 Pendapatan Income before financial and Laba Sebelum Pos Keuangan 503.372.181 441.649.212 413.649.761 other items dan Lainnya Profit for the year 323.071.667 296.376.558 293.571.512 Laba (Rugi) Jumlah Laba (Rugi) yang Owner of the 130.672.376 121.169.486 118.116.393 Dapat Diatribusikan Parent Entity Kepada Pemilik Entitas Induk Jumlah Laba (Rugi) yang Non Controlling Interest 192.399.291 175.207.072 175.455.119 Dapat Diatribusikan Kepada Kepentingan Non Pengendali Comprehensive Income 296.458.244 283.029.185 294.969.729 Total Laba (Rugi) Komprehensif Jumlah Laba (Rugi) Komprehensif yang Dapat Owner of the Parent Entity 117.340.102 113.703.615 119.041.320 Diatribusikan Kepada Pemilik Entitas Induk Jumlah Laba (Rugi) Komprehensif yang Dapat Non Controlling Interest 179.118.142 169.325.570 175.928.409 Diatribusikan Kepada Kepentingan Non Pengendali Earnings Per Share 63 58 57 Laba (Rugi) per Saham Total Asset 1.907.034.830 1.791.336.526 1.279.507.012 Jumlah Aset Total Liabilities 1.108.203.297 980.355.267 721.089.781 Jumlah Liabilitas Total Equity 798.831.533 810.981.259 558.417.231 Jumlah Ekuitas Rasio Laba (Rugi) terhadap Return on Assets 17% 17% 23% Jumlah Aset Rasio Laba (Rugi) terhadap Return on Equity 40% 37% 53% Ekuitas Rasio Laba (Rugi) Operasi Operating Margin 24% 24% 25% terhadap Pendapatan Rasio Laba (Rugi) Sebelum EBITDA Margin 28% 28% 29% Bunga, Pajak dan Depresiasi terhadap Pendapatan Current Ratio 1,33 2,19 2,23 Rasio Lancar Liability to Equity Ratio 1,39 1,21 1,29 Rasio Liabilitas terhadap Ekuitas Rasio Liabilitas terhadap Jumlah Liability to Total Asset Ratio 0,58 0,55 0,56 Aset Return on Equity (ROE) over the last 5 years 2017 2016* 2015 2014 2013 2012 40% 37% 53% 55% 61% 54% * Reflects an additional investment SATS in * Menunjukkan investasi SATS di CAS subsidiary PMAD PMAD, entitas anak CAS PT Cardig Aero Services Tbk Report to Shareholders The Year in Review Corporate Governance Laporan kepada Pemegang Saham Tahun dalam Kajian Tata Kelola Perusahaan 05 Shareholder Information Informasi Pemegang Saham Chronology of Listing Kronologi Pencatatan On December 5, 2011, the Company obtained Pada tanggal 5 Desember 2011, Perseroan the Notice of Effectivity from BAPEPAM-LK memperoleh Surat Pernyataan Efektif dari in Letter No. S- 12603/BL/2011 for the public BAPEPAM-LK No. S-12603/BL/2011 untuk offering of 313,030,000 of the Company’s shares penawaran umum 313.030.000 saham as listed on the Indonesia Stock Exchange. Perseroan kepada masyarakat dan saham tersebut telah dicatatkan pada Bursa Efek Indonesia. CAS Ownership Structure Struktur Kepemilikan Saham CAS Shareholder Number of Shares Percentage Ownership Paid-Up Capital (Rp.) Pemegang Saham Jumlah Saham Presentase Kepemilikan Total Modal Disetor PT Cardig Asset Management * 538,117,668 25.79% 53.811.767 SATS Ltd S/A SATS Investment (II) Pte Ltd ** 451,830,800 21.65% 45.183.080 SATS Ltd S/A Cemerlang Pte Ltd ** 417,390,000 20.00% 41.739.000 PT Dinamika Raya Swarna *** 366,587,032 17.57% 36.658.703 Masyarakat/Public 313,024,950 15.00% 31.302.450 2,086,950,000 100% 208.695.000 * Controlled 52.7% by Nurhadijono Nurjadin and family, 14.3% by Adji Gunawan and family ** A Public Listed Singaporean Company *** Controlled 66.7% by Nurhadijono Nurjadin, 33.3% by Radianto Kusumo Directors and Commissioners share ownership Kepemilikan Saham oleh Direksi dan Komisaris Commissioners’ holdings Komisaris yang memiliki saham Adji Gunawan 0.0622919% Hasiyanna Syarain Ashad 0.0184480% Director’ holdings Direksi yang memiliki saham Nurhadijono Nurjadin 0.1485421% Radianto Kusumo 0.1337119% Widianawati 0.1150004% Laporan Tahunan 2017 Annual Report About CAS 06 Tentang CAS Groups of Public Shareholders < 5% to the Kelompok Pemegang Saham Masyarakat < 5% amount of 15% sejumlah 15% Total of shareholders and percentage of ownership based on classification Jumlah pemegang saham dan presentase kepemilikan berdasarkan klasifikasi Local institution ownership: 47.68184% Kepemilikan institusi local: Foreign institution ownership: 50.21415% Kepemilikan institusi asing Local individual ownership: 1.85517% Kepemilikan individu local Foreign individual ownership: 0.24884% Kepemilikan individu asing Share price data, trading volume and market capitalization per quarter Harga saham dan data kapitalisasi pasar per kuartal 2017 Quarter Highest Price Lowest Price Avg Closing Price Market Capitalization Rata-rata Harga Tertinggi Harga Terendah Volume Kapitalisasi Pasar Kuartal Harga Penutupan (Rp) (Rp) (Rp) (Rp) I 945 650 768 34,680 1,602,549,339,844 II 900 730 802 126,886 1,673,450,923,729 III 755 650 708 638,814 1,478,523,807,692 IV 900 690 759 198,048 1,583,513,446,154 2016 Quarter Highest Price Lowest Price Avg Closing Price Market Capitalization Rata-rata Harga Tertinggi Harga Terendah Volume Kapitalisasi Pasar Kuartal Harga Penutupan (Rp) (Rp) (Rp) (Rp) I 1,250 1,020 1,164 87,793 2,358,253,500,000