When high Performance inspired by innovation Laporan Tahunan 2012 Annual Report WISMA BAKRIE 2, 7th Floor Jl. HR Rasuna Said Kav. B2 Kuningan Jakarta 12920, Indonesia Telephone: +62 21 5794 5711 Fax: +62 21 5794 5715 Kinerja yang Diinspirasi oleh Inovasi Sejak mencatatkan dirinya di lantai Bursa di penghujung 2011, PT Visi Media Asia Tbk (“VIVA” atau “Perseroan”) terus berinovasi sehingga kembali mencatatkan kinerja yang impresif di tahun 2012. Di tengah persaingan industri media Indonesia yang sangat ketat, VIVA secara inovatif mengembangkan strategi Tiga Pilar yang terbukti efektif dapat meningkatkan pertumbuhan pendapatan sekaligus meningkatkan profitabilitas Perseroan. VIVA berkeyakinan penuh untuk berdiri di garis terdepan industri media Indonesia dengan terus berusaha untuk memberikan konten-konten yang berkualitas kepada masyarakat Indonesia dan mengoptimalkan momentum pertumbuhan ekonomi Indonesia untuk bertumbuh lebih kuat dan memberikan nilai tambah kepada Pemegang Saham. Performance Inspired by Innovation Since the Company became public at the end of 2011, PT Visi Media Asia Tbk (“VIVA” or the “Company”) continued to make inspiring innovations, bringing forth an impressive performance in 2012. In the midst of the intensely competitive media industry in Indonesia, VIVA has been innovatively developing a Three Pillar Strategy that has proven effective in augmenting the Company’s revenue growth and profitability. VIVA is ready to be the leader of the Indonesian media industry by continuously delivering high quality content to the nation and maximising the upswing of Indonesia’s economic growth; allowing the Company to maintain a robust performance in delivering added value to the shareholders. 1 Annual Report 2012 • PT Visi Media Asia Tbk. Daftar Isi Table of Contents KILAS KINERJA 2012 ANALISIS DAN PEMBAHASAN MANAJEMEN 2012 HIGHLIGHTS MANAGEMENT DISCUSSION AND ANALYSIS 6 Ikhtisar Keuangan 62 Tinjauan Umum Financial Highlights General Overview 62 Kondisi Makro Televisi Tidak Berbayar Macro Conditions of FTA LAPORAN DEWAN KOMISARIS 64 Tinjauan Per Segmen Usaha DAN DIREKSI Operational Review Per Business Segment REPORT OF THE BOARD OF COMMISSIONERS 66 Analisis Kinerja Keuangan AND THE BOARD OF DIRECTORS Financial Performance Analysis 11 Laporan Dewan Komisaris 69 Kemampuan Membayar Utang Report of the Board of Commissioners Solvency Level 17 Laporan Direksi 70 Struktur Modal Perseroan Report of the Board of Directors Capital Structure 70 Informasi Material Material Information PROFIL PERUSAHAAN 70 Tingkat Kesehatan Perusahaan The Company’s Financial Stability COMPANY PROFILE 71 Laporan Realisasi Penggunaan Dana 22 Profil Perusahaan Report on the Realization of the IPO Proceeds Company Profile 72 Rencana Jangka Panjang 30 Jejak Langkah Long Term Plan Milestone 72 Aspek Pemasaran 32 Peristiwa Penting Tahun 2012 Marketing Aspects Significant Events in 2012 73 Kebijakan Dividen 34 Struktur Organisasi Dividend Policy Organization Structure 73 Kejadian Setelah Setelah Tanggal Akuntansi 35 Visi, Misi, dan Nilai Perusahaan Subsequent Events Vision, Mission, and Corporate Values 37 Profil Dewan Komisaris Profile of the Board of Commissioners TATA KELOLA PERUSAHAAN 41 Profil Direksi Profile of the Board of Directors GOOD CORPORATE GOVERNANCE 45 Profil Tim Manajemen Senior 76 Penerapan Good Corporate Governance (GCG) Profile of the Senior Management Team Implementation of Good Corporate Governance (GCG) 48 Sumber Daya Manusia 77 Penilaian GCG Human Resources GCG Assessment 53 Komposisi Pemegang Saham 77 Kebijakan GCG Composition of the Shareholders GCG Policies 54 Entitas Anak Perusahaan dan Perusahaan Afiliasi 78 Struktur Organ Tata Kelola Perusahaan Subsidiaries and Affiliated Companies Structure of GCG 55 Lembaga Profesi Penunjang Perusahaan 78 Rapat Umum Pemegang Saham (RUPS) Capital Market and Supporting Professionals The General Meeting of Shareholders (GMS) 56 Penghargaan dan Sertifikasi 81 Dewan Komisaris Awards and Certifications The Board of Commissioners 58 Sistem Stasiun Jaringan ANTV dan tvOne 82 Tugas dan Tanggung Jawab Dewan Komisaris ANTV and tvOne Network Station System Duties and Responsibilities of the Board of Commissioners 82 Frekuensi Rapat dan Tingkat Kehadiran Dewan Komisaris The Board of Commissioners Frequency and Attendance of Meeting 83 Direksi The Board of Directors 83 Tugas dan Tanggung Jawab Direksi Duties and Responsibilities of the Board of Directors 2 PT Visi Media Asia Tbk. • Laporan Tahunan 2012 84 Public Expose Public Expose 84 Frekuensi Rapat dan Tingkat Kehadiran Direksi Frequency of the Meetings and Attendances 02 84 Pelaksanaan Tugas Dewan Komisaris dan Tingkat KILAS KINERJA 2012 Kehadiran Direksi Tahun 2012 2012 HIGHLIGHTS Activities of The Board of Commissioners and The Board of Directors in 2012 85 Prosedur Penetapan dan Besaran Remunerasi Dewan Komisaris dan Direksi Procedures in Determining The Remuneration of The Board of Commissioners and The Board of Directors 85 Komite Audit The Audit Commitee 86 Tugas dan Tanggung Jawab Komite Audit Duties and Responsibilities of the Audit Committee 86 Rapat Komite Audit Meetings of the Audit Committee 87 Pelaksanaan Tugas dan Tanggung Jawab Komite Audit Activities of the Audit Committee 87 Komite Lain di Bawah Dewan Komisaris 49 Other Committees Under the Board of Commissioners ANALISIS DAN PEMBAHASAN 87 Komite Nominasi dan Remunerasi The Nomination and Remuneration Committee MANAJEMEN 88 Sekretaris Perusahaan MANAGEMENT DISCUSSION AND ANALYSIS Corporate Secretary 90 Unit Audit Internal The Internal Audit Unit 91 Komite Manajemen Risiko The Risk Management Committee 91 Sistem Manajemen Risiko The Risk Management System 92 Permasalahan Hukum Legal Case 93 Kode Etik dan Budaya Perusahaan Code of Ethics and The Company’s Culture 94 Whistleblowing System The Whistleblowing System 59 TANGGUNG JAWAB SOSIAL PERUSAHAAN TATA KELOLA PERUSAHAAN CORPORATE SOCIAL RESPONSIBILITY 98 Kegiatan CSR di Tahun 2012 GOOD CORPORATE GOVERNANCE CSR Activities in 2012 LAPORAN KEUANGAN FINANCIAL REPORT 104 Lembar Pertanggungjawaban Laporan Tahunan Annual Report Responsibility Statement 3 Annual Report 2012 • PT Visi Media Asia Tbk. 4 PT Visi Media Asia Tbk. • Laporan Tahunan 2012 Kilas Kinerja 2012 2012 Highlights 5 Annual Report 2012 • PT Visi Media Asia Tbk. Ikhtisar Keuangan Financial Highlights NeraCA Konsolidasi / CONSOLIDATED BALANCE SHEET Dalam Miliar Rupiah / In Billion Rupiah Keterangan / Description 2012 2011 2010 Aset / ASSETS Aset Lancar / Current Assets 1.340,9 1.167,4 909,8 Aset Tidak Lancar / Non Current Assets 1.652,5 1.250,2 1.190,5 Total Aset / Total Assets 2.993,4 2.417,6 2.100,3 Liabilitas DAN Ekuitas / LIABILITIES AND EQUITY Liabilitas Jangka Pendek / Short term Liabilities 367,3 681,7 352,7 Liabilitas Jangka Panjang / Long term Liabilities 947,5 140,6 642,5 Total Liabilitas / Total Liabilities 1.314,8 822,3 995,2 Total Ekuitas / Total Equity 1.678,6 1.595,3 1.105,1 Total Liabilitas dan Ekuitas / Total Liabilities and Equity 2.993,4 2.417,6 2.100,3 Laba RUGI Konsolidasi / CONSOLIDATED INCOME Dalam Miliar Rupiah / In Billion Rupiah Keterangan / Description 2012 2011 2010 Pendapatan dari iklan / Revenue from advertisements 1.236,4 983,5 879,6 Pendapatan dari non-iklan / Revenue from non-advertisement 5,0 9,1 9,5 Pendapatan Usaha / Operating Revenue 1.241,4 992,6 889,1 Program dan penyiaran / Programs and broadcasting 428,8 281,9 342,5 Umum dan administrasi / General and administration 486,9 476,0 405,4 Depresiasi / Depreciation 66,8 82,4 75,4 Total Beban Usaha / Total Operating Expenses 982,5 840,3 823,3 Laba Usaha / Operating Profit 259,0 152,4 65,8 Penghasilan (Beban) Lain-Lain, Bersih / Other income (Expenses), Net (74,9) (110,8) (76,8) Laba Sebelum Manfaat (Beban) Pajak Penghasilan / 184,1 41,6 (11,0) Income before Income Tax Benefit (Expenses) Manfaat (Beban) Pajak Penghasilan / Income Tax Benefit (Expenses) (111,2) (15,3) 14,6 Laba Bersih / Net Income 72,9 26,3 3,7 RASIO Keuangan / FINANCIAL RATIOS Keterangan / Description 2012 2011 2010 Total Liabilitas Terhadap Total Ekuitas / Total Liabilities to Total Equity 0,79 0,52 0,90 Total Liabilitas Terhadap Total Aset / Total Liabilities to Total Assets 0,44 0,34 0,47 Aset Lancar Terhadap Liabilitas Lancar / Current Assets to Current Liabilities 3,67 1,71 2,58 Kas dan Setara Kas Terhadap Liabilitas Lancar / Cash and Cash Equivalent to Current Liabilities 1,51 0,82 1,21 Laba Usaha Terhadap Pendapatan (%) / Operating Profit to Revenue (%) 20,86% 15,35% 7,40% EBITDA Terhadap Pendapatan (%) / EBITDA to Revenue (%) 26,24% 23,65% 15,88% Laba Bersih Terhadap Pendapatan (%) / Net Profit to Revenue (%) 5,83% 2,65% 0,41% Laba Bersih Terhadap Total Aset (%) / Net Profit to Total Assets (%) 2,40% 1,09% 0,17% Laba Bersih Terhadap Total Ekuitas (%) / Net Profit to Total Equity (%) 4,31% 1,65% 0,33% 6 PT Visi Media Asia Tbk. • Laporan Tahunan 2012 PERTUMBUHAN LABA BERSIH PERTUMBUHAN ASET LANCAR NET PROFIT GROWTH CURRENT ASSET GROWTH Dalam Miliar Rupiah Dalam Miliar Rupiah In Billion Rupiah In Billion Rupiah 72,9 1.340,9 1.167,4 909,8 26,3 3,7 2010 2011 2012 2010 2011 2012 pergerakan harga SAHAM SHARE PRICE MOVEMENT 1.000 200.000.000 900 180.000.000 800 160.000.000 700 140.000.000 600 120.000.000 500 100.000.000 400 80.000.000 300 60.000.000 200 40.000.000 100 20.000.000 0 0 Nov 11 Des 11 Jan 12 Feb 12 Mar 12 Apr 12 Mei 12 Jun 12 Jul 12 Aug 12 Sep 12 Okt 12 Nov 12 Des 12 Volume Harga / Price Harga Saham / Share Price (Rp) 4Q 2011 1Q 2012 2Q 2012 3Q 2012 4Q 2012 Penutupan / Closing 520 510 730 520 540 Tertinggi / Highest 580 630 900 740 710 Terendah / Lowest 390 480 480 430 265 7 Annual Report 2012 • PT Visi Media Asia Tbk. Laporan Dewan Komisaris dan Direksi Report of the Board of Commissioners and the Board of Directors Laporan Dewan Komisaris Report of the Board of Commissioners ANINDYA N. BAKRIE Presiden Komisaris President Commissioner 10 PT Visi Media Asia Tbk.Tbk •• LaporanLaporan TahunanTahunan 20122012 Laporan Dewan Komisaris Report of the Board of Commissioners ecara keseluruhan, tahun 2012 merupakan tahun yang penuh tantangan baik dari sisi makro ekonomi, industri maupun dari S internal VIVA.