PT WILMAR CAHAYA INDONESIA Tbk PT WILMAR CAHAYA 2018 ANNUAL REPORT LAPORAN TAHUNAN HEAD OFFICE Kawasan Industri Jababeka, Jl. Industri Selatan 3 GG No.1, Pasirsari, Cikarang Selatan, Kab. Bekasi - Jawa Barat 17530 Telepon : (+62 21) 8983 0003 - 8983 0004 Faksimili: (+62 21) 8937 143 ANNUAL REPORT 2018 LAPORAN TAHUNAN www.wilmarcahayaindonesia.com PT WILMAR CAHAYA INDONESIA Tbk 2018 | ANNUAL REPORT | LAPORAN TAHUNAN KINERJA 2018 ANALISA DAN PEMBAHASAN MANAJEMEN 2018 Performance 04 Management Discussion and Analysis 44 Ikhtisar Keuangan / Financial Highlights 05 Tinjauan Operasional per Segmen Operasi Produksi / Operational Overview Production 46 Ikhtisar Saham / Stock Highlights 08 Tinjauan Keuangan / Financial Performance Analysis 46 LAPORAN MANAJEMEN TATA KELOLA PERUSAHAAN Management Report 10 Good Corporate Governance 52 Laporan Direksi / Board of Directors Report 12 Rapat Umum Pemegang Saham (RUPS) / General Meeting of Shareholders (GMS) 54 Laporan Dewan Komisaris / Board of Commissioners Report 16 Dewan Komisaris / Board of Commissioners 56 DAFTAR ISI Direksi / Board of Directors 58 Komite-Komite di Bawah Dewan Komisaris / Committees Under The Board of Commissioners 59 TABLE OF CONTENTS PROFIL PERUSAHAAN Company Profile 20 Sekretaris Perusahaan / Corporate Secretary 61 Sekilas Perusahaan / Company in a Glance 22 Unit Audit Internal / Internal Audit 62 Visi Misi dan Budaya Perusahaan / Company’s Vision, Mission, and 23 Manajemen Risiko / Risk Management 64 Core Values Sistem Pelaporan Pelanggaran / Whistleblowing System 67 Struktur Organisasi / Organizational Structure 24 Prinsip dan Rekomendasi Tata Kelola / Good Corporate Governance Principles and Recommendation 68 Produk Perusahaan / Company’s Products 25 Jejak Langkah Perusahaan / Company’s Milestones 28 TANGGUNG JAWAB SOSIAL PERUSAHAAN Profil Direksi / Board of Directors Profile 30 Corporate Social Responsibility 70 Profil Dewan Komisaris / Board of Commissioners Profile 34 Penghargaan dan Sertifikasi / Awards and Certifications 38 Sumber Daya Manusia / Human Resources 40 SURAT PERNYATAAN ANGGOTA DIREKSI DAN ANGGOTA Kepemilikan Saham / Shares Ownership 41 DEWAN KOMISARIS TENTANG TANGGUNG JAWAB ATAS 76 LAPORAN TAHUNAN 2018 Statement of Responsibility of The Board of Directors and Commissioners for The 2018 Annual Report LAPORAN KEUANGAN DAN LAPORAN AUDITOR INDEPENDEN Financial Statements and Independent Auditor’s Report 77 2 PT WILMAR CAHAYA INDONESIA Tbk 2018 ANNUAL REPORT 3 IKHTISAR KEUANGAN Financial Highlights Dalam Jutaan Rupiah In Millions of Rupiah Laba Rugi Komprehensif 2018 2017 2016 Statement of Comprehensive Income Pendapatan 3.629.328 4.257.738 4.115.542 Revenues Laba Bruto 274.351 284.280 434.939 Gross Profit (Loss) Laba Operasional 136.840 160.980 318.559 Operating Profit (Loss) Pendapatan Sebelum Bunga, Pajak, Depresiasi dan Amortasi 161.110 185.233 340.102 KINERJA 2018 Earning Before Interest, Taxes Depreciation, and Amortization (EBITDA) 2018 PERFORMANCE Laba (Rugi) Bersih Periode Berjalan 92.650 107.421 249.697 Net Earning or Loss in Corresponding Period Laba (Rugi) Komprehensif 100.378 104.374 248.027 Comprehensive Profit (Loss) Laba per Saham (Dasar) 156 181 420 Earning per Share (Base) Dalam Jutaan Rupiah In Millions of Rupiah Neraca 2018 2017 2016 Balance Sheet Jumlah Aset 1.168.956 1.392.636 1.425.964 Total Assets Jumlah Aset Lancar 809.166 988.480 1.103.865 Total Current Assets Jumlah Aset Tidak Lancar 359.790 404.156 322.099 Total Non-Current Assets Jumlah Liabilitas 192.308 489.592 538.044 Total Liabilities Jumlah Liabilitas Jangka Pendek 158.256 444.383 504.209 Total Current Liabilities Jumlah Liabilitas Jangka Panjang 34.053 45.209 33.835 Total Current Non-Liabilities Total Ekuitas Bersih 976.648 903.044 887.920 Total Equity - Net 4 PT WILMAR CAHAYA INDONESIA Tbk 2018 ANNUAL REPORT 5 Dalam Persentase Rasio Margin Laba Usaha terhadap Pendapatan Rasio Margin Laba Bersih terhadap Pendapatan In Percentage Operating Profit Margin Net Income Margin Rasio Keuangan 2018 2017 2016 Financial Ratio 16% 16% Rasio Laba Bersih terhadap Aset 7,93% 7,71% 17,51% Return On Assets (ROA) 12% 12% Rasio Laba Bersih terhadap Ekuitas 9,49% 11,90% 28,12% Return On Equity (ROE) 8% 7,74% 8% 6,27% Rasio Marjin Laba Kotor terhadap Pendapatan 7,56% 6,68% 10,57% Gross Profit Margin 3,78% 3,77% 4% 4% Rasio Marjin Laba Usaha terhadap Pendapatan 3,77% 3,78% 7,74% 2,52% 2,55% Operating Profit Margin 0 % 0 % Rasio Marjin Laba Bersih terhadap Pendapatan 2,55% 2,52% 6,07% 2016 2017 2018 2016 2017 2018 Net Income Margin Rasio Pendapatan Komprehensif terhadap Aset 8,59% 7,49% 17,39% Return on Assets (Comprehensive) Rasio Marjin Laba Komprehensif terhadap Ekuitas 10,28% 11,56% 27,93% Rasio Lancar Rasio Liabilitas terhadap Ekuitas Return on Equity (Comprehensive) Current Ratio Liabilities to Equity Ratio Rasio Marjin Laba Komprehensif terhadap Pendapatan 2,77% 2,45% 6,03% Comprehensive Income Margin 520% 511,30% 80% Rasio Lancar 511,30% 222,44% 218,93% 60,60% Current Ratio 420% 60% Rasio Liabilitas terhadap Aset 16,45% 35,16% 37,73% 54,22% Liabilities to Assets Ratio 320% 40% Rasio Liabilitas terhadap Ekuitas 19,69% 54,22% 60,60% 222,44% Liabilities to Equity Ratio 19,69% 220% 218,93% 20% Rasio Pendapatan Sebelum Bunga, Pajak, Depresiasi, dan Amortasi 4,44% 4,35% 8,26% Earning Before Interest, Taxes, Depreciation, and Amortazion ( EBITDA) Ratio 0 % 0 % 2016 2017 2018 2016 2017 2018 Rasio Laba bersih terhadap Aset Rasio Laba bersih terhadap Ekuitas Return On Asset (ROA) Return On Equity (ROE) 20% 40% 17,51% 15% 30% 28,12% 10% 7,93% 20% 7,71% 11,90% 5% 10% 9,49% 0 % 0 % 2016 2017 2018 2016 2017 2018 6 PT WILMAR CAHAYA INDONESIA Tbk 2018 ANNUAL REPORT 7 IKHTISAR SAHAM Stock Highlights Data Saham Perkuartal Tahun 2018 2018 Quarterly Stock Data Periode Tertinggi Terendah Penutupan Lembar Saham Kapitalisasi Pasar Saham Time Frame Highest (Rp) Lowest (Rp) Closing (Rp) Shares Volume Market Capitalization Harga Saham Jumlah Saham Dalam Jutaan Rupiah / In Millions of Rupiah Share Price Share Amount Kuartal I 1.490 1.265 1.320 1.984.205 785.400 1st Quarter 1.500 4.250.000 Kuartal II 1.400 1.030 1.110 1.422.001 660.450 2nd Quarter 1.450 4.050.000 Kuartal III 1.350 900 1.085 5.365.400 645.575 3rd Quarter 1.400 3.850.000 1385 1.375 950 1.375 673.100 818.125 1375 Kuartal IV 4th Quarter 1.350 3.650.000 1325 1320 1.300 3.450.000 Total Kapitalisasi Pasar Saham Perusahaan pada akhir tahun 2018 mencapai Total Stock Market Capitalization of the Company at the end of 2018 reached Rp. 818.125.000.000, (Delapan ratus delapan belas miliar seratus dua puluh Rp. 818,125,000,000. (seven hundred sixty seven billion five hundred fifty lima juta Rupiah) dengan total saham tercatat untuk diperdagangkan sebesar million hundred Rupiah) with the total of 9,444,706 listed shares to be traded. 1.250 1250 3.235.000 3.250.000 9.444.706 lembar saham. 1.200 3.050.000 Data Saham Perkuartal Tahun 2017 2017 Quarterly Stock Data 1.150 2.850.000 Periode Tertinggi Terendah Penutupan Lembar Saham Kapitalisasi Pasar Saham 1140 Time Frame Highest (Rp) Lowest (Rp) Closing (Rp) Shares Volume Market Capitalization Dalam Jutaan Rupiah / In Millions of Rupiah 1110 1.100 2.650.000 2.400 1.300 2.170 12.160.500 1.291.150 1085 Kuartal I 1st Quarter 1.050 1050 2.450.000 Kuartal II 2.190 1.390 1.665 18.110.300 990.675 2nd Quarter 1005 1.000 995 2.250.000 Kuartal III 1.700 1.330 1.400 3.921.900 833.000 3rd Quarter 950 945 2.050.000 Kuartal IV 1.490 1.250 1.290 2.855.200 767.550 4th Quarter 900 1.850.000 850 1.650.000 Total Kapitalisasi Pasar Saham Perusahaan pada akhir tahun 2017 mencapai Total Stock Market Capitalization of the Company at the end of 2017 reached 1.521.000 Rp. 767.550.000.000, (Tujuh ratus enam puluh tujuh miliar lima ratus lima Rp. 767,550,000,000. (seven hundred sixty seven billion five hundred fifty puluh juta Rupiah) dengan total saham tercatat untuk diperdagangkan million hundred Rupiah) with the total of 37,047,900 listed shares to be 800 1.450.000 sebesar 37.047.900 lembar saham. traded. 750 1.250.000 700 1.050.000 650 820.100 850.000 657.400 600 628.901 650.000 609.100 608.600 555.000 473.300 550 450.000 500 250.000 135.700 111.300 450 50.000 88.500 0 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 8 PT WILMAR CAHAYA INDONESIA Tbk 2018 ANNUAL REPORT 9 LAPORAN MANAJEMEN MANAGEMENT REPORT HENDRI SAKSTI ERRY TJUATJA Presiden Komisaris Presiden Direktur President Commissioner President Director ERIK MAY.JEND.TNI (PURN) JOHANNES, SH TONNY MUKSIM, SE, MM HAIRUDDIN HALIM Komisaris DRS.HENDARDJI SOEPANDJI, SH Direktur Independen Direktur Direktur Commissioner Komisaris Independen Independent Director Director Director Independent Commissioner LAPORAN Board of Directors Report Para Pemegang Saham dan Pemangku Kepentingan yang Terhormat, Dear Respected Shareholders and Stakeholders, Tahun 2018 merupakan tahun akselerasi perekonomian Indonesia setelah The 2018 was a year of economic acceleration for Indonesia after a year of kondisi pemulihan ekonomi Indonesia di tahun 2017. Meskipun belum economic recovery in 2017. Albeit of not yet reaching the target, Indonesia’s mencapai target, perekonomian Indonesia masih lebih baik jika dibandingkan economy was still better compared to the economy condition of other dengan perekonomian negara-negera berkembang lainnya, seperti Venezuela developing countries, namely Venezuela and Turkey. It was shown through dan Turki. Hal ini ditunjukkan dengan proyeksi ekonomi nasional Indonesia Indonesian national economic projection at the end of 2018 to be at around di akhir tahun 2018 pada angka 5,15%.