!
Income Statement (In Rp Billion) 1H06 1H07 Growth
GSM:
Postpaid 278 393 41%
Prepaid 1,790 2,347 31%
Interconnection & Inroaming 480 511 6%
Other GSM (Starter Pack, VoIP, etc.) 191 195 2%
Total GSM 2,740 3,447 26%
Non GSM 114 219 92%
Total Gross Revenue 2,853 3,665 28%
Less: Discount (282) (249) -12%
Less: COGS (Interconnection,BHP,USO,SP & Voucher) (492) (609) 24%
Net Revenue 2,079 2,808 35%
Labor Cost (Permanent & Temporary) 196 231 18%
Marketing & Selling expenses 259 353 36%
Infrastructure Expenses 268 484 80%
Support & Overhead Expenses 148 182 23%
Total OPEX 871 1,250 43%
EBITDA 1,208 1,558 29%
EBITDA Margin 42% 43% 1%
Depreciation & Amortization 707 840 19%
EBIT 501 718 43%
Other Income/(Expense)
Interest expense (206) (249) 21%
Interest income 32 28 -12%
Forex gain/(loss) 207 (39) N/A
Others (12) (30) 144%
Total Other Income/(Expense) 20 (290) N/A
Profit Before Tax 522 428 -18%
Income tax expense (163) (130) -20%
Profit After Tax 358 298 -17%
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Balance Sheet (In Rp Billion) 1H06 1H07 Growth
Current Assets
Cash and cash equivalents 739 1,186 61%
Trade and other receivables - net 188 268 42%
Prepayments 481 600 25%
Others 19 106 463%
Total Current Assets 1,427 2,160 51%
Non-Current Assets 10,084 13,683 36%
Total Assets 11,511 15,843 38%
Current Liabilities
Trade and other payables 1,717 2,358 37%
Taxes payable 28 72 157%
Deferred revenue 80 306 282%
Total current liabilities 1,825 2,736 50%
Non-Current Liabilities
Trade payables - 153 N/A
Deferred tax liabilities 161 477 196%
Long term loan - 996 N/A
Long term bonds 5,503 6,868 25%
Derivatives payable - 57 N/A
Provision for employee benefits 34 45 33%
Total Non-Current Liabilities 5,698 8,596 51%
Total Liabilities 7,523 11,332 51%
Equity
Share capital & capital surplus 3,401 3,401 0%
Retained earnings 587 1,111 89%
Total Equity 3,988 4,512 13%
Total Liabilities and Equity 11,511 15,843 38%
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Cash Flow (In Rp Billion) 1H06 1H07 Growth
Net cash flow provided from operating activities 1,074 1,392 30%
Net cash flow used in investing activities (2,806) (2,999) 7%
Free cash flow (1,732) (1,607) -7%
Net cash flow provided from financing activities 1,577 2,204 40%
Net (decrease)/increase in cash and cash equivalents (155) 597 N/A
Cash and cash equivalents at the beginning of the year 880 587 -33%
Effect of exchange rate changes on cash and cash equivalents 13 2 -82%
Cash and cash equivalents at the end of the period 739 1,186 61%
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Debts (In Rp Billion) 1H06 1H07 Growth
Banks - 996 N/A
Bonds 5,503 6,868 25%
USD Bond 1 3,222 3,149 -2%
USD Bond 2 2,281 2,226 -2%
IDR Bond - 1,492 N/A
Total debts 5,503 7,864 43%
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Operating Key Performance Indicator 1H06 1H07 Growth
Total O/G Minutes of Usage (billion minutes) 1.1 1.7 51%
O/G MOU/subs/month (minutes) 23 28 21%
Total O/G SMS (billion SMS) 3.6 5.6 54%
O/G SMS/subs/month (SMS) 77 96 24%
Total # subscriber (000) 8,388 10,200 22%
Prepaid 8,058 9,743 21%
Postpaid 331 457 38%
ARPU blended (Rp 000) 43 46 7%
Prepaid 38 41 8%
Postpaid 186 151 -19%
Total BTS 5,606 8,936 59%
Number of Employee (permanent) 1,986 2,114 6%
Capitalized capex (Rp Billion) 2,335 2,854 22%
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President Director Hasnul Suhaimi
Director Joris de Fretes
Director Md Nasir Ahmad
Director P. Nicanor V. Santiago III
Director Hilmi bin Mohd. Yunus
Director Joy Wahyudi
Director Willem Lucas Timmermans
Director Dian Siswarini
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