PT MNC Sky Vision Tbk TOWARDS A TOWARDS NEW VISION NEW 2017 Laporan Tahunan Annual Report Laporan Tahunan Laporan Tahunan MNC VISION TOWER Jl. Raya Panjang Blok Z / III 2017 Green Garden, Jakarta 11520 Indonesia Annual Report Hotline : 1500 900 Phone : +6221 582 8000 Ext. 370101 Laporan Tahunan 2017 Annual Report Fax : +6221 391 4600 PT MNC Sky Vision Tbk Website : www.mncvision.id MEMPERKENALKAN Introducing Pada tahun 2017, kami mengawali perjalanan dengan In 2017, we started the journey with a new identity as identitas baru sebagai MNC Vision. Evolusi ini menjadi MNC Vision. This evolution became a manifestation of our perwujudan komitmen kami dalam menyediakan tayangan commitment in providing quality shows in line with the bermutu, sesuai visi Perseroan sebagai pilihan pertama Company’s vision, as the first choice of Pay TV subscribers pelanggan TV berlangganan di Indonesia. in Indonesia. DAFTAR ISI Table of Contents Kinerja 2017 4 1 2017 Performance Laporan Manajemen 10 2 Management Report Informasi Umum 44 3 General Information Analisis dan Pembahasan Manajemen 74 4 Management’s Discussion and Analysis Tata Kelola Perusahaan 104 5 Corporate Governance Tanggung Jawab Sosial Perusahaan 210 6 Corporate Social Responsibility Laporan Keuangan 242 7 Financial Report PENJELASAN TEMA Theme Description PT MNC Sky Vision Tbk (MSKY) sebagai pionir TV PT MNC Sky Vision Tbk (MSKY) as a pioneer of Pay TV berlangganan di Indonesia telah membuktikan in Indonesia has proven its presence for over 23 years eksistensinya selama lebih dari 23 tahun dalam in providing the best service for the Indonesian people. menyediakan layanan terbaik bagi masyarakat Indonesia. In 2017, the Pay TV industry became more dynamic Di tahun 2017, kondisi industri TV berlangganan semakin with the increasing competition and innovation. The dinamis dengan persaingan dan inovasi yang kian Company considers the tight competition as a challenge meningkat. Perseroan menganggap ketatnya persaingan to continuously improve the quality of its services, in ini sebagai sebuah tantangan untuk terus meningkatkan accordance with the Company’s commitment to providing kualitas layanan yang diberikan, sesuai dengan komitmen the best quality entertainment with the most comprehensive Perseroan dalam memberikan kualitas hiburan terbaik, channels and world-class broadcasting programs to saluran terlengkap dan tayangan berkualitas dunia yang entertain and educate the nation. menghibur serta mencerdaskan bangsa. PAda tahun 2017, Perseroan melakukan transformasi In 2017, the Company made a major transformation by besar dengan menggabungkan brand Indovision dan Top merging Indovision and Top TV into MNC Vision. This TV menjadi MNC Vision. Perubahan ini dilakukan tanpa transformation was carried out without eliminating the best menghilangkan fitur terbaik yang digunakan sebelumnya features such as the use of Indostar-II Satellite and S-band seperti penggunaan Satelit Indostar-II dan frekuensi S-band. frequency. The latest features such as Multi Decoder, Fitur-fitur terbaru seperti Multi Decoder, High Definition, High Definition, MNC Vision Plus and Super Bundle are MNC Vision Plus dan Super Bundle juga dihadirkan untuk provided to take the subscribers to a higher level of Pay TV membawa pelanggan ke tingkat layanan TV berlangganan service. Furthermore, the Company increased the number yang lebih tinggi. Selain itu, Perseroan menambah jumlah of channels to 137 channels with 23 in house exclusive saluran menjadi 137 saluran dengan 23 saluran in-house channels. In line with these changes, the Company as the eksklusif. Seiring dengan perubahan tersebut, Perseroan number one Pay TV in Indonesia is set to move towards a sebagai TV berlangganan nomor satu di Indonesia new vision to provide the subscribers experience with an bergerak menuju visi yang baru untuk memberikan exceptional Pay TV services . pengalaman kepada pelanggan menggunakan layanan TV berlangganan yang luar biasa. KINERJA 2017 LAPORAN MANAJEMEN 2017 Performance Management Report IKHTISAR KEUANGAN PENTING Key Financial Highlights LAPORAN LABA RUGI Profit and Loss Statement KETERANGAN 2017 2016 2015 Description Pendapatan 2.655.673 3.000.238 3.243.468 Revenues Laba Kotor 230.015 60.522 211.167 Gross profit EBITDA 1.037.241 1.026.103 1.186.258 Laba (Rugi) usaha 99.354 (85.785) 69.416 Income (Loss) from operations Rugi sebelum pajak (177.223) (254.557) (805.221) Loss before tax Rugi bersih (289.337) (197.442) (758.061) Net loss Rugi komprehensif (359.821) (210.325) (187.095) Comprehensive loss Rugi per saham dasar (dalam rupiah penuh) (34.80) (26,30) (107,30) Basic loss per share (in full rupiah) Jumlah saham beredar 9.065.320.366 7.770.274.600 7.063.886.000 Total outstanding shares LAPORAN POSISI KEUANGAN Statements of Financial Position KETERANGAN 2017 2016 2015 Description Modal Kerja Bersih (421.169) (481.078) (4.158.495) Net Working Capital Jumlah Investasi - - 801.286 Total Investment Jumlah Aset 4.947.388 5.348.524 6.698.847 Total Assets Jumlah Liabilitas 2.744.598 4.079.133 5.208.713 Total Liabilities Jumlah Ekuitas 2.202.790 1.269.391 1.490.134 Total Equity Jumlah Liabilitas dan Ekuitas 4.947.388 5.348.524 6.698.847 Total Liability and Equity 4 Laporan Tahunan 2017 Annual Report ANALISA DAN TANGGUNG JAWAB SOSIAL INFORMASI UMUM PEMBAHASAN MANAJEMEN TATA KELOLA PERUSAHAAN PERUSAHAAN General Information Management’s Corporate Governance Corporate Social Discussion and Analysis Responsibility RASIO KEUANGAN PENTING Key Financial Ratio RASIO KEUANGAN 2017 2016 2015 Financial Ratio Rasio laba (rugi) terhadap jumlah aset (%) -6% -4% -11% Return on assets (%) Rasio laba (rugi) terhadap ekuitas (%) -13% -16% -51% Return on equity (%) Rasio aset lancar terhadap liabilitas lancar 0,62 0,61 0,19 Current ratio Rasio liabilitas terhadap jumlah aset 0,55 0,76 0,78 Debt to assets Rasio liabilitas terhadap ekuitas 1,25 3,21 3,50 Debt to equity Rasio laba kotor terhadap pendapatan (%) 9% 2% 7% Gross profit margin (%) Marjin EBITDA (%) 39% 34% 37% EBITDA margin (%) DATA PELANGGAN Subscribers Data DATA PELANGGAN 2017 2016 2015 Subscribers Data Jumlah Pelanggan 2.480.973 2.495.585 2.432.617 Total Subscribers Churn 0,96% 0,99% 1,86% Churn ARPU 81.078 92.016 102.946 ARPU PENDAPATAN LABA (RUGI) USAHA Revenue Income (Loss) from Operation 2015 2015 + - 3.243 + - 69 2016 2016 + - 3.000 + - (86) 2017 2017 + - 2656 + - 99 www.mncvision.id Laporan Tahunan 2017 Annual Report 5 KINERJA 2017 LAPORAN MANAJEMEN 2017 Performance Management Report RUGI BERSIH JUMLAH PELANGGAN Net Loss Total Subscribers 2015 2015 + - (758) + - 2.433 2016 2016 + - (197) + - 2.496 2017 2017 + - (289) + - 2.481 EBITDA 2015 + - 1.186 2016 + - 1.026 2017 + - 1.037 MARJIN EBITDA EBITDA Margin 2015 + - 37% 2016 + - 34% 2017 + - 39% 6 Laporan Tahunan 2017 Annual Report ANALISA DAN TANGGUNG JAWAB SOSIAL INFORMASI UMUM PEMBAHASAN MANAJEMEN TATA KELOLA PERUSAHAAN PERUSAHAAN General Information Management’s Corporate Governance Corporate Social Discussion and Analysis Responsibility IKHTISAR SAHAM Share Highlights KINERJA SAHAM PER TRI WULAN Share Performance Per Quarter Modal yang telah ditempatkan dan disetor penuh per 2017 As of 2017, the Company’s issued and paid-up capital adalah sebanyak 9.065.320.366 lembar saham dengan is 9,065,320,366 shares with public floating shares of jumlah saham yang dapat diperdagangkan di publik 1,813,064,073 and market capitalization of Rp1,414 billion. mencapai 1.813.064.073 lembar dan kapitalisasi pasar mencapai Rp1.414 miliar. Volume Volume Perdagangan Tertinggi Terendah Penutupan Perdagangan Triwulan Tertinggi Terendah Penutupan (Saham) Highest Lowest Closing (Saham) Quarter Highest Lowest Closing Trading Volume Trading Volume (Shares) (Shares) I 1.100 1.020 1.015 23.112.600 1.300 1.005 1.110 709.700 II 1.030 985 980 19.337.700 1.395 960 1.025 2.014.300 III 1.030 970 965 17.947.700 1.090 490 494 14.112.800 IV 1.030 920 780 11.184.000 1.360 482 1.335 41.984.400 Satu Tahun 1.100 920 780 71.582.000 1.360 482 1.335 58.821.200 One Year GRAFIK HARGA PENUTUPAN & VOLUME PERDAGANGAN SAHAM Graphic of Shares Closing Price & Trading Volume 2.0 1.500 1.400 Juta Million 1.300 1.5 1.200 1.100 1.0 1.000 900 800 0.5 700 600 0.0 500 Volume Perdagangan Closing Trading Volume Penutupan www.mncvision.id Laporan Tahunan 2017 Annual Report 7 KINERJA 2017 LAPORAN MANAJEMEN 2017 Performance Management Report KAPITALISASI PASAR Market Capitalization Kapitalisasi Pasar/ 2.000 Market Capitalization 1.800 1.600 1.400 1.200 1.000 800 600 400 200 - HARGA TERTINGGI & TERENDAH SAHAM DARI TRIWULAN I - TRIWULAN IV Highest & Lowest Price of Shares from 1st Quarter to 4th Quarter 1.150 1.100 1.050 1.000 950 900 850 800 Triwulan I Triwulan II Triwulan III Triwulan IV 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Tertinggi Terendah Highest Lowest 8 Laporan Tahunan 2017 Annual Report ANALISA DAN TANGGUNG JAWAB SOSIAL INFORMASI UMUM PEMBAHASAN MANAJEMEN TATA KELOLA PERUSAHAAN PERUSAHAAN General Information Management’s Corporate Governance Corporate Social Discussion and Analysis Responsibility AKSI KORPORASI SAHAM Share Corporate Actions 1. Waktu pelaksanaan: 1. Time of Implementation: • Tanggal Efektif. • Effective Date. 22 Juni 2017 June 22, 2017 • Periode Pendaftaran, Pemesanan, dan Perdagangan • Registration, Subscription, and Trading of Sertifikat Bukti HMETD di BEI. Preemptive Rights Certificate on the IDX. 14, 17-21 & 24-27 Juli 2017 July 14, 17-21 & 24-27, 2017 • Periode Pembayaran Pemesanan Saham. • Preemptive Share Payment Period. 14, 17-21 & 24-27 Juli 2017 July 14, 17-21 & 24-27, 2017 • Tanggal Akhir Pembayaran Pemesanan Saham • Last Date of Additional Preemptive Share Payment. Tambahan. July 31, 2017 31 Juli 2017 • Periode Distribusi Saham Hasil Pelaksanaan • Share Distribution Period after the Preemptive HMETD Rights Implementation 18-21, 24-28 & 31 Juli 2017 July 18-21, 24-28 & 31, 2017 • Tanggal Penjatahan Saham • Date of Shares Allotment 1 Agustus 2017 August 1, 2017 • Tanggal Distribusi Saham Hasil Penjatahan • Distribution Date of Allotted Shares 3 Agustus 2017 August 3, 2017 2.