IM_Quarter 2 (August).indd

INFOMEMO
First Half of 2006 Results (Unaudited)
1
FIRST HALF OF 2006 RESULTS (UNAUDITED)
August 1, 2006
NOTABLE FIGURES:
TICKERS:
NYSE
: TLK
LSE
: TKIA
JSX
: TLKM
DIVISIONS:
Telkom Regions
KSO Regions
: I, II, III, IV, V, VI
: VII
same period last year
■ Cash and cash equivalent position (consolidated) was
Rp 9.3 trillion
■ Telkomsel maintained its position as the market leader
with more than 50% of market share with 29.3 million
subscribers
SHARE IN ISSUES:
20,159,999,280 shares
MAJOR SHARE HOLDERS:
Govt. of Indonesia : 51.19%
Public
: 48.53%
Treasury stock
: 0.28%
(as of June 30, 2006)
CONVERSION RATES (US$ 1.00):
June 30, 2005 = Rp 9,752.5
June 30, 2006 = Rp 9,264.5
FINANCIAL HIGHLIGHTS (Consolidated):
TELKOM FINANCIAL INDICATORS
1H/06 (in Rp Tn)
15.6
16
14
11.9
12
10.1
8.2
8
6.5
6
4
5.8
3.5
3.4
2
0
02
03
3.8
2.5
04
Net Income
05
1H/06 (in Million)
29.3
25
21.5
20
10
12.4
7.5
12.1
11.9
8.1
9.2
7.7
5
4.2
0
02
03
Fixed Line
04
05
19,385
11,295
8,089
11,852
3,803
188.7
7,546.4
61.14
23,997
13,185
10,812
15,576
5,819
288.7
11,548.3
64.91
23.8
16.7
33.7
31.4
53.0
53.0
53.0
3.77
1H/06
Growth
(%)
OPERATIONAL HIGHLIGHTS:
EBITDA
LIS
30
Operating Revenues
Operating Expenses
Operating Income (EBIT)
EBITDA
Net Income
Net Income / Share (Rp)
Net Income / ADS (Rp)
EBITDA Margin (%)
Growth
(%)
06
FIXED LINE LIS vs CELLULAR SUBSCRIBERS
15
1H/05
1H/06
(Rp Billion) (Rp Billion)
Key Indicators
18
10
■ Robust growth of 53.0 % in Net Income consolidated
■ EBITDA Margin consolidated achieved 64.9%
■ Operating Revenues grew by 23.8% compared to the
06
Cellular
Descriptions
Unit
TELKOM
LIS Wireline*
LIS Wireless (Flexi)
(000)
(000)
8,635
3,458
8,661
3,234
0.3
-6.5
Total
(000)
12,093
11,895
-1.6
TELKOMSEL
Customer :
KartuHALO
SimPATI
Kartu As
(000)
(000)
(000)
1,426
13,773
6,349
1,572
18,891
8,807
10.2
37.2
38.7
Total
(000)
21,548
29,270
35.8
1H/05
* LIS (Line in Service) = Subscribers + Public Phone
DISCLAIMER
This document contains financial conditions and result of operation, and may also contain certain projections, plans, strategies, and objectives of the
Company, which would be treated as forward looking statements within the meaning of applicable law. Forward looking statements, by their nature,
involve risk and uncertainty that could cause actual results and development to differ materially from those expressed or implied in these statements.
TELKOM does not guarantee that any action, which should have been taken in reliance on this document will bring specific results as expected.
No. : C.TEL 441/LP000/COM-10/2006 ■ Number of Pages : 24
No. : C.TEL 441/LP000/COM-10/2006 ■ Number of Pages : 24
First Half of 2006 Results (Unaudited)
2
PT TELEKOMUNIKASI INDONESIA, Tbk.
ANNOUNCEMENT FOR
THE FIRST HALF YEAR OF 2006 RESULTS (Unaudited)
Jakarta, August 1, 2006 - PT Telekomunikasi Indonesia, Tbk. (“TELKOM”
or “the Company”), has announced its operational and unaudited
consolidated financial statements results for the first half year of 2006.
All financial figures in this report are prepared in accordance with
Generally Accepted Accounting Principles in Indonesia (Indonesian
GAAP).
FINANCIAL RESULT
Profit and Loss Statement
Revenues Contribution
1H/06:
JOS
1%
Data &
Internet
17%
Other
1%
Fixed
22%
Network
1%
Financial results as of June 30, 2006, compared to the same period last
year:
Operating Revenues increased by Rp 4,612.0 billion or 23.8%. The main
contributors to the increase are as follows:
• Cellular Revenues increased by Rp 3,034.1 billion or 47.3%, mainly
due to the increase of 35.8% in Telkomsel’s subscribers.
• Data and Internet Revenues increased by Rp 1,035.4 billion or
33.8%, mainly due to 25.8% growth in TelkomNet Instan usage to
1,732 million minutes as well as an increase in SMS production from
Telkomsel and TELKOMFlexi of 133.9% and 55.1%, respectively.
RSA
1%
Cellular
39%
Interconnection
17%
Expenses Contribution
1H/06:
General &
Administrative
11%
Marketing
4%
Personnel
27%
• Interconnection Revenues increased by Rp 484.4 billion or 13.3%
compared to the same figure last year, mainly due to the growth in
local and DLD interconnection traffic from cellular to fixed line.
Operating Expenses increased by Rp 1,889.3 billion or 16.7%. The main
contributors to the increase are as follows:
• Depreciation Expense increased by Rp 1,003.3 billion or 30.4%,
due to the growth of Telkomsel’s network infrastructures as well as
an accelerated depreciation of WLL (wireless local loop) and Flexi
installations in TELKOM.
• Operation & Maintenance Expense increased by Rp 581.0 billion
or 20.8%, mainly due to the increase in Concession fees and Radio
Frequency charges as a result from the increase in number of BTS
and RBS in TELKOM and Telkomsel.
Operation &
Maintenance
26%
Depreciation
32%
• General & Administrative Expense increased by Rp 273.4 billion, or
22.4%, mainly due to the increase in General and social contribution
as well as provision for doubtful accounts and inventory
obsolescence.
No. : C.TEL 441/LP000/COM-10/2006 ■ Number of Pages : 24
First Half of 2006 Results (Unaudited)
3
As of the period ended June 30, 2006, TELKOM has recorded Operating
Income of Rp 10,811.7 billion, an increase of 33.7% compared to the
same period last year. TELKOM’s EBITDA consolidated has also increased
by 31.4% to Rp 15,575.9 billion.
Net Income
For the first half year of 2006, the Company has recorded an increase of
53.0% in Net Income consolidated to Rp 5,819.0 billion.
CAPITAL EXPENDITURE (CAPEX)
Cash spending on CAPEX during the first half year of 2006 for TELKOM
and Telkomsel were Rp 704 billion and Rp 5,587 billion, respectively.
CONSOLIDATED DEBT
As of June 30, 2006, the breakdown of debt portfolio (short-term
and long-term) in foreign currencies and Rupiah equivalents were as
follows:
Currencies
IDR / Rupiah (billion)
US Dollar
Japanese Yen
EURO
Original (in million)
Rp (in billion)
Portion (%)
1H/05
1H/06
1H/05
1H/06
1H/05
1H/06
4,267
894
16,099
44
4,006
736
14,956
23
4,267
8,719
1,423
516
4,006
6,824
1,208
347
28.6%
58.4%
9.5%
3.5%
32.3%
55.1%
9.8%
2.8%
14,925
12,384
100%
100%
Total
UNCONSOLIDATED DEBT (TELKOM as a single entity)
As of June 30, 2006, the breakdown of debt portfolio (short-term
and long-term) in original currencies and Rupiah equivalents were as
follows:
Currencies
IDR / Rupiah (billion)
US Dollar
Japanese Yen
Total
Original (in million)
Rp (in billion)
Portion (%)
1H/05
1H/06
1H/05
1H/06
1H/05
1H/06
4,051
841
16,099
3,258
703
14,956
4,051
8,205
1,423
3,258
6,518
1,208
29.6%
60.0%
10.4%
29.7%
59.3%
11.0%
13,680
10,984
100%
100%
TELKOM hedged its foreign currency exposures through time deposit
placements, mainly in US Dollar. As of June 30, 2006, the Company’s
deposits has covered approximately 35.3% of foreign debts from July 1,
2006 to June 30, 2007.
No. : C.TEL 441/LP000/COM-10/2006 ■ Number of Pages : 24
First Half of 2006 Results (Unaudited)
4
OPERATIONAL RESULTS
Main Products:
TELKOM Fixed-Lines in Service
As of June 30, 2006, TELKOM, including KSO VII, has recorded 8.7 million
fixed lines in service.
TELKOMFlexi (Fixed Wireless Services)
As of June 30, 2006, TELKOMFlexi service was available in 235 cities with
1,494 BTS and 3.2 million subscribers. The revenues generated from
this service was Rp 1,242.3 billion (net basis). For detailed information
regarding TELKOMFlexi performance, please see attachment on Table 7.
As of June 30, 2006, penetration rate for fixed line (fixed wireline and
fixed wireless) was 4.78%.
TELKOMSLI 007 (IDD Service)
As of June 30, 2006, IDD Service has generated Rp 362.0 billion in
revenues (net basis), which came from its outgoing call revenues as
well as outgoing and incoming interconnection revenues. TELKOM also
recorded the incoming and outgoing international traffics of 341.6
million minutes and 71.2 million minutes, respectively.
CELLULAR SERVICE
Telkomsel is the largest mobile communication company in Indonesia
with more than 50% subscriber’s market share, and total subscribers
of 29.3 million at the end of June 30, 2006. For detailed information,
please see attachment on Table 10.
TELKOMNet Instan (Dial-Up Internet Services)
As of June 30, 2006, approximately 645,753 telephone subscribers has
accessed to TelkomNet Instan and premium prepaid dial-up internet
services per month. Subscribers utilized a total 1,732 million minutes of
TelkomNet Instan, an increase of 25.8% over the same period last year.
TELKOMSpeedy (Broadband Service)
As of June 30, 2006, there were 47,235 broadband internet access
subscribers available in Jakarta, Surabaya, Bandung, Semarang, Medan
Makasar. As of June 30, 2006, the revenue from this service has reached
Rp 121 billion (including revenue from revenue sharing arrangement).
TELKOM VPN IP
As of June 30, 2006, there were 3,538 of subscribers accessed to VPN IP
Service, an increase 96.4% over the same period of last year.
No. : C.TEL 441/LP000/COM-10/2006 ■ Number of Pages : 24
First Half of 2006 Results (Unaudited)
5
TELKOM Vision
As of June 30, 2006, there were 85,798 total subscribers using TELKOM
Vision services (HFC, DTH, SMATV) in Jakarta, Bandung, Semarang,
Surabaya, Denpasar, and Medan.
HUMAN RESOURCES
As of June 30, 2006, the total number of TELKOM’s employees (as a single
entity) was 27,922 persons, which gave a productivity per employee as
measured by the number of fixed lines in service per employee as of
June 30, 2006, of 426 compared to 427 for June 30, 2005.
RECENT DEVELOPMENTS
RESULT OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS
1. Approved the Annual Report of the Company as proposed by the
Board of Directors. The Annual Report describes financial condition,
business operations and management of the Company in financial
year 2005.
2. a. 1) Ratified the Annual Accounts of the Company which contain
the Balance Sheet and the Profit and Loss Statement and the
explanatory notes thereto for financial year 2005, which have
been audited by a public accounting firm, Siddharta, Siddharta
& Widjaja (member of KPMG International), pursuant to its
report No. L05-3737-06.ID dated June 8, 2006 with an opinion
attesting to its audit results in “fairly in all material respect”.
2) Ratified the Annual Report on the Program Kemitraan and
Program Bina Lingkungan of the Company for financial year
2005, which has been audited by a public accounting firm
of Zainal Arifin, pursuant to its report No. 036/LAI/06 dated
April 6, 2006, with an opinion attesting to its audit results
“fairly with exception”.
b. Pursuant to the Article 19 paragraph 3 of the Company’s Article of
Association and the Decree of Minister of State-Owned Enterprises
dated 17 June 2003, and following the approval of the Annual
Report of the Company for financial year 2005, the ratification of
the Annual Accounts of the Company for financial year 2005 and
the Annual Report on the Program Kemitraan and Program Bina
Lingkungan of the Company for financial year 2005, the Meeting
also granted a discharge from their responsiblities to all members
of the Board of Directors and the Board of Commissioners of the
Company, including the members of the Board of Directors who,
as of the date of the Annual General Meeting of Shareholders of
the Company which was held in 2005, were no longer involved
in any management and supervisory actions of the Company,
No. : C.TEL 441/LP000/COM-10/2006 ■ Number of Pages : 24
First Half of 2006 Results (Unaudited)
6
including the management and supervisory actions of the
Program Kemitraan and Program Bina Lingkungan which have
been active during financial year 2005, to the extent such actions
did not contravene any provisions of the prevailing regulations
and have been disclosed in the Annual Report, Annual Accounts
of the Company for financial year 2005, and the Annual Report
on the Program Kemitraan and Program Bina Lingkungan of the
Company for financial year 2005.
3. a. To approve the appropriation of the Company’s net income
for the financial year 2005 in the aggregate amount of
Rp 7,993,566,000,000,- (seven trillion nine hundred ninety
three billion five hundred sixty six million Rupiah) as follows:
1) Cash dividend in the amount of Rp 4,400,090,215,223,(four trillion four hundred billion ninety million two hundred
fifteen thousand two hundred and twenty three Rupiah) or in
the amount of Rp 218.811 (two hundred eighteen Rupiah
point eight one one) per share with the nominal value of
each share in the amount of Rp 250,- (two hundred and fifty
Rupiah);
2) Performance bonus to the members of the Board of Directors
and the Board of Commissioners of the Company, in the amount
of Rp 18,000,000,000,- (eighteen billion Rupiah), provided
that the income tax thereof shall be borne by the members of
the Board of Directors and the Board of Commissioners who
receive such performance bonus;
3) Bonus for employees, in the amount of Rp 124,000,000,000,(one hundred twenty four billion Rupiah), provided that the
income tax thereof shall be borne by the employees who
receive such bonus;
4) The remainder of the Company’s net profit for the financial
year 2005 in the amount of Rp 3,451,475,784,777,- (three
trillion four hundred fifty one billion four hundred seventy five
million seven hundred eighty four thousand seven hundred
and seventy seven Rupiah) will be used for the business
expansion of the Company.
b. To approve the distribution of dividends for financial year 2005
as follows:
1) Shareholders whose names are registered in the Company’s
Shareholders Registration as of 16.00 Indonesian Western Time
on 26 July 2006 shall be eligible to receive cash dividends;
2) Dividends will be paid simultaneoulsy to all the shareholders
on 9 August 2006, pursuant to the prevailing laws.
No. : C.TEL 441/LP000/COM-10/2006 ■ Number of Pages : 24
First Half of 2006 Results (Unaudited)
7
- Provided that :
1) The financing for Program Kemitraan for financial year 2006 shall
be set aside in the amount of Rp 79,935,650,700,- (seventy
nine billion nine hundred thirty five million six hundred fifty
thousand seven hundred Rupiah), which constitutes the expense
of the Company in financial year 2006.
2) The financing for Program Bina Lingkungan for financial year
2006 shall be in the amount of Rp 39,967,825,350,- (thirty nine
billion nine hundred sixty seven million eight hundred twenty
five thousand three hundred and fifty Rupiah), which constitutes
the expense of the Company in financial 2006.
4. To approve the delegation of authority to the Board of Commissioners
of the Company to:
a. Appoint a public accounting firm to perform an integrated
audit for the financial year 2006, which audit will consist of the
audit of the Consolidated Financial Statements of the Company,
internal control on financial reporting for the financial year
2006, through a bidding process or an appointment of one of
the renowned public accounting firms which fulfils legitimacy
and independence requirements of the regulations as provided
by the capital markets authorities upon which the shares of the
Company are listed. The appointed public accounting firm shall
satisfy the following requirements:
1) It has to complete the audit as scheduled to meet the Company’s
various reporting requirements;
2) It must staff the audits of the Company with a number of
accounting and financial reporting professionals with requisite
understanding and knowledge of the prevailing technical and
regulatory requirements of Sarbanes Oxley Act.
b. Re-appoint the public accounting firm of Zainal Arifin, which
has been auditing the Company’s utilization of the fund under
Program Kemitraan and Program Bina Lingkungan for financial
year 2005, to audit the same for financial year 2006.
-
In performing the above-mentioned roles, the Board of
Commissioners will pay due regard to, and abide by, good
corporate governance principles.
5. To approve the compensation package for the members of Board
of Directors and the Board of Commissioners of the Company for
financial year 2006, as follows:
a. The Meeting approves the formula for the compensation of the
management of the Company.
No. : C.TEL 441/LP000/COM-10/2006 ■ Number of Pages : 24
First Half of 2006 Results (Unaudited)
8
b. The salary of the President Director for financial year 2006 shall
be in the net amount of Rp 108,000,000,- (One hundred and eight
Million Rupiah) per month and shall be applicable as of 1 January
2006.
c. Performance bonus for the President Director for financial year
2005 shall be in the net amount of Rp 1,588,594,705,- (one
billion five hundred eighty eight million five hundred ninety four
thousand seven hundred and five Rupiah) after deducting income
tax under Article Pasal 21, pursuant to prevailing regulations.
d. Salary for financial year 2006 and performance bonus for financial
year 2005 for Vice President Director, each of the Directors,
President Commissioner and each of the Commissioners,
respectively, are 95%, 90%, 40% and 36% of the salary and
performance bonus for President Director; the salary for Vice
President Director, the Directors, President Commissioner and the
Commissioners as described herein shall be applicable as of 1
January 2006.
e. Remuneration and perquisites for the members of the Board of
Commissioners and the Board of Directors for financial year 2006
shall be the same as in financial year 2005.
6. Resolved that the incumbent members of the Board of Commissioners
shall remain in their position to perform their duties as the members
of the Board of Commissioners of the Company unless otherwise
determined by a definite members of the Board of Commissioners
of the Company in the next Extraordinary General Meeting of
Shareholders.
7. Resolved that there are no changes or additions to the number of
members of the Board of Directors of the Company.
Schedules/Resolutions Regarding Distribution of Dividend
1. Payment of cash dividend for the year ended December 31, 2005 in
the amount of Rp 4,400,090,215,223,- (four trillion four hundred
billion ninety million two hundred fifteen thousand two hundred and
twenty three Rupiah), or Rp 218.811 (two hundred eighteen Rupiah
point eight one one) per share with the nominal value of each share
in the amount of Rp 250,- (two hundred and fifty Rupiah), shall be
distributed as follows.
No. : C.TEL 441/LP000/COM-10/2006 ■ Number of Pages : 24
First Half of 2006 Results (Unaudited)
9
Record Date
= July 26, 2006; 16.00 WIB
Regular and OTC Markets
Cum Dividend
= July 21, 2006
Ex. Dividend
= July 24, 2006
Cash Market
Cum Dividend
Ex. Dividend
= July 26, 2006
= July 27, 2006
Payment Date
= August 09, 2006
2. For ADS holders, payment of cash dividends will be made through a
custodian bank, which was appointed by the Bank of New York, for
the amount of shares registered at the register List of ADS holders
at the Stock Administration Bureau (SAB) and Kustodian Sentral Efek
Indonesia (KSEI). The record date shall be July 26, 2006.
3. For shareholders whose shares are registered at KSEI, cash dividends
will be paid through the KSEI.
4. For shareholders whose shares are not registered at KSEI, the Company
will send notice of dividend payment (SPPD) to the shareholders’
address.
a. Cash dividend will be paid in cash at Bank Negara Indonesia (BNI)
in all their branch offices throughout Indonesia. Shareholders
must bring valid original identification card and, if it is authorized
to another person, a copy of the valid original Identification card
of both the person authorizing it and the person acting as the
agent should be attached to the power of attorney.
b. Cash dividend for the amount of Rp 10,000,- or more, if requested
can be transferred to the requesting shareholder’ bank account.
Shareholders should notify the SAB at PT DATINDO ENTRYCOM,
Wisma Diners Club Annex, Jl. Jend. Sudirman Kav.3435, Jakarta 10220, by enclosing a copy of the valid original
Identification card. Dividends can only be transferred to a bank
account under the same account holder name as in the Register
List of Shareholders.
5. The Company will apply income tax deduction in accordance with
the tax regulations for the payment of dividends.
6. In accordance with Circular Letter of the Director General of Tax
No. SE-08/PJ.35/1993 jo. S-101/PJ.34/1996, tax deduction for the
shareholders who are non-Indonesian citizens are adjusted with a
tariff based on Agreement to Avoid Double Taxation (AADT), under
PPh Article 26. Shareholders are required to send the original letter of
domicile issued by a foreign government that is a party to the AADT
with Indonesia. If a shareholder uses custodian bank service, such
shareholder is required to submit a copy of the letter of domicile
approved by an authorized custodian officer. This submission of the
No. : C.TEL 441/LP000/COM-10/2006 ■ Number of Pages : 24
First Half of 2006 Results (Unaudited)
10
letter of domicile as described above should be made by July 26,
2006. If a shareholder was unable to meet this deadline and the
SAB has not received the letter of domicile from such shareholder,
dividends to be paid to such shareholder shall be subject to 20%
income tax under PPh Article 26.
SHARE BUY-BACK PROGRESS
As of July 31, 2006, TELKOM has executed its share buy-back program
in New York Stock Exchange and Jakarta Stock Exchange amounted
to 77,368,500 shares or 7.7% from the maximum amount purchase
allowed.
TELKOM DIVIDEND PER SHARE FOR THE YEAR 2005
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk.
(“TELKOM” or the “Company”) announces its dividend payment for the
year 2005 (recording date: July 26, 2006) and considering the progress
of TELKOM’s share buy-back program, we hereby inform that the
dividend calculation for the year 2005, will be as follows:
Amount of dividend
Outstanding Share
Total Amount Repurchased
(excluding prior to cum dividend
date-on July 21, 2006)
Amount of Share with Dividend Rights
Dividend per share
Rp 4,400,090,215,223
20,159,999,280
72,964,500
20,087,034,780
Rp 219.051
22 NEW CITIES OF TELKOMSpeedy SERVICE
On July 7, 2006 Telkom has expanded TELKOMSpeedy service
commercially in 22 cities nationwide by promoting new tariff packaging
which is more cheaper than its previous tariff.
VP Investor Relations and Corporate Secretary,
HARSYA DENNY SURYO
No. : C.TEL 441/LP000/COM-10/2006 ■ Number of Pages : 24
First Half of 2006 Results (Unaudited)
11
Table 1
PT TELEKOMUNIKASI INDONESIA Tbk and SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
As of June 30, 2005 and 2006
(in millions of Rupiah)
2005
(As restated)
2006
ASSETS
CURRENT ASSETS
Cash and cash equivalents
Temporary investments
Trade accounts receivable
Related parties - net of allowance for doubtful
accounts of Rp 115,673 million in 2005
and Rp 112,975 million in 2006
Third parties - net of allowance for doubtful
accounts of Rp 543,659 million in 2005
and Rp 652,856 million in 2006
Other accounts receivable - net of allowance for
doubtful accounts of Rp 12,493 million in 2005
and Rp 3,944 million in 2006
Inventories - net of allowance for obsolescence of
Rp 48,638 million in 2005 and Rp 49,602
million in 2006
Prepaid expenses
Prepaid taxes
Other current assets
6,009,872
100,418
9,346,253
42,877
462,403
621,521
2,963,365
3,067,309
69,033
177,422
139,680
998,558
1,574
45,808
178,441
1,238,811
55,830
155,018
10,790,711
14,883,482
91,062
98,126
40,989,777
47,066,592
440,456
512,838
1,362
1,133,373
155,716
460
476,626
4,952,349
84,237
4,453,806
9,799
TOTAL NON-CURRENT ASSETS
47,692,616
52,773,963
TOTAL ASSETS
58,483,327
67,657,445
TOTAL CURRENT ASSETS
NON-CURRENT ASSETS
Long-term investments - net
Property, plant and equipment - net of accumulated
depreciation of Rp 32,361,721 million in 2005
and Rp 40,519,257 million in 2006
Property, plant and equipment under revenuesharing arrangements - net of accumulated
depreciation of Rp 467,230 million in 2005
and Rp 500,845 million in 2006
Property, plant and equipment under capital lease
- net of accumulated depreciation of Rp 108,280
million in 2006
Prepaid pension benefit cost
Advances and other non-current assets
Goodwill and other intangible assets - net of
accumulated amortization of Rp 2,305,110
million in 2005 and Rp 3,239,653 million in 2006
Escrow accounts
No. : C.TEL 441/LP000/COM-10/2006 ■ Number of Pages : 24
First Half of 2006 Results (Unaudited)
12
Table 1 (continued)
PT TELEKOMUNIKASI INDONESIA Tbk and SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
As of June 30, 2005 and 2006
(in millions of Rupiah)
2005
(As restated)
2006
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Trade accounts payable
Related parties
Third parties
Other accounts payable
Taxes payable
Dividends payable
Accrued expenses
Unearned income
Advances from customers and suppliers
Short-term bank loans
Current maturities of long-term liabilities
TOTAL CURRENT LIABILITIES
NON-CURRENT LIABILITIES
Deferred tax liabilities - net
Unearned income on revenue-sharing arrangements
Unearned initial investor payments under joint
operation scheme
Provision for long service award
Provision for post-retirement health care benefits
Accrued pension and other post-retirement benefits costs
Long-term liabilities - net of current maturities
Obligation under capital lease
Two-step loans - related party
Notes and bonds
Bank loans
Liabilities of business acquisitions
TOTAL NON-CURRENT LIABILITIES
MINORITY INTEREST
STOCKHOLDERS’ EQUITY
Capital stock - Rp 250 par value per Series A
Dwiwarna share and Series B share
Authorized - one Series A Dwiwarna share and
79,999,999,999 Series B shares
Issued and fully paid - one Series A Dwiwarna share
and 20,159,999,279 Series B shares
Additional paid-in capital
Less: cost of treasury stock (55,443,500 shares)
Difference in value of restructuring transactions
between entities under common control
Difference due to change of equity in associated
companies
Unrealized holding (loss) available-for-sale securities
Translation adjustment
Retained earnings
Appropriated
Unappropriated
707,462
3,121,744
26,578
1,433,424
3,529,047
1,286,390
1,210,464
281,147
791,738
2,142,747
757,987
3,758,545
23,488
1,986,462
6,459,063
2,092,779
1,902,520
271,031
17,100
2,494,710
14,530,741
19,763,685
2,711,005
321,661
2,228,391
369,433
19,506
481,721
2,947,126
1,400,080
4,717
575,541
2,928,934
1,229,987
5,081,358
1,598,827
1,826,436
3,484,116
225,921
4,348,922
994,494
1,905,074
2,642,069
19,871,836
17,453,483
5,128,664
6,140,456
5,040,000
1,073,333
-
5,040,000
1,073,333
(413,740)
-
90,000
385,595
2,383
231,252
385,595
1,597
233,198
1,803,397
10,416,126
1,803,397
16,086,441
TOTAL STOCKHOLDERS’ EQUITY
18,952,086
24,299,821
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
58,483,327
67,657,445
No. : C.TEL 441/LP000/COM-10/2006 ■ Number of Pages : 24
First Half of 2006 Results (Unaudited)
13
Table 2
PT TELEKOMUNIKASI INDONESIA Tbk and SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
For the six months period ended June 30, 2005 and 2006
(in millions of Rupiah, except per share and per ADS data)
2005
(As restated)
2006
OPERATING REVENUES
Telephone
Fixed lines
Cellular
Interconnection
Joint operation schemes
Data and Internet
Network
Revenue-sharing arrangements
Other telecommunications services
Total Operating Revenues
5,473,578
6,408,876
3,632,302
316,188
3,060,411
194,046
101,182
198,007
5,337,166
9,442,926
4,116,689
302,789
4,095,813
295,059
203,518
202,585
19,384,590
23,996,545
3,523,483
3,303,568
2,795,867
1,223,321
449,239
3,497,333
4,306,831
3,376,910
1,496,738
507,013
11,295,478
13,184,825
8,089,112
10,811,720
OPERATING EXPENSES
Personnel
Depreciation
Operations, maintenance and telecommunication services
General and administrative
Marketing
Total Operating Expenses
OPERATING INCOME
OTHER INCOME (CHARGES)
Interest income
Interest expense
Gain (loss) on foreign exchange - net
Equity in net income (loss) of associated companies
Others - net
Other income (charges) - net
INCOME BEFORE TAX
136,178
(647,594)
(357,003)
6,792
265,947
325,992
(585,803)
586,597
(3,218)
52,119
(595,680)
375,687
7,493,432
11,187,407
TAX EXPENSE
Current tax
Deferred tax
(2,545,814)
216,485
(3,636,860)
166,084
TAX EXPENSE
(2,329,329)
(3,470,776)
5,164,103
7,716,631
(1,360,692)
(1,897,671)
3,803,411
5,818,960
188.66
7,546.45
288.71
11,548.30
INCOME BEFORE MINORITY INTEREST IN NET INCOME OF SUBSIDIARIES
MINORITY INTEREST IN NET INCOME OF SUBSIDIARIES
NET INCOME
BASIC EARNINGS PER SHARE
Net income per share
Net income per ADS (40 Series B shares per ADS)
No. : C.TEL 441/LP000/COM-10/2006 ■ Number of Pages : 24
First Half of 2006 Results (Unaudited)
14
Table 2 a
PT TELEKOMUNIKASI INDONESIA Tbk and SUBSIDIARIES
BREAKDOWN OF THE CONSOLIDATED INCOME STATEMENTS
For the six months period ended June 30, 2005 and 2006
(in millions Rupiah, except per share and per ADS data)
1
2005
2
2006
3
Growth (%)
4=(3–2)/2
(Restated)
OPERATING REVENUE
Fixed Lines (wireline + wireless)
Local
Long distance
Local and domestic long-distance usage
Monthly subscription charges
Instalation charges
Phone cards
Others
Total Fixed lines Revenues
1,679,047
1,980,372
3,659,418
1,628,167
99,613
5,124
81,256
5,473,578
1,706,652
1,787,142
3,493,794
1,706,835
86,258
934
49,345
5,337,166
1.6
(9.8)
(4.5)
4.8
(13.4)
(81.8)
(39.3)
(2.5)
6,408,876
9,442,926
47.3
3,143,046
401,948
87,308
3,632,302
3,591,353
411,656
113,680
4,116,689
14.3
2.4
30.2
13.3
134,315
181,143
731
138,344
163,921
524
3.0
(9.5)
(28.3)
316,188
302,789
(4.2)
2,304,542
367,438
271,073
112,334
5,024
3,060,411
3,165,478
419,074
347,486
147,250
16,525
4,095,813
Cellular
Interconnection
Cellular
International
Other
Total Interconnection Revenues
Joint Operation Scheme
Minimum TELKOM Revenues
Share in Distributable KSO Revenue
Amortization of unearned initial investor payments
under Joint Operation Scheme
Total Joint Operation Scheme Revenues
Data and Internet
SMS
Internet
Data Communication
VOIP
E-Business
Total Data and Internet Revenues
Network
Leased lines
Satellite transponder lease
Total Network Revenues
Revenue Sharing Arrangement Revenues
Other Telecommunications Services (OTS)
Directory assistance
Others
Total OTS Revenues
TOTAL OPERATING REVENUES
85,328
108,718
194,046
101,182
73,440
221,619
295,059
203,518
193,978
4,029
198,007
19,384,590
194,990
7,595
202,585
23,996,545
OPERATING EXPENSES
Personnel
Salaries and related benefits
Vacation pay, incentives and other benefits
Employee income tax
Net periodic pension cost
Net periodic postretirement health care benefit cost
Early retirements
Others
Total Personnel
Depreciation
955,124
766,500
428,033
338,419
244,293
558,421
232,693
3,523,483
3,303,568
1,115,350
1,278,396
350,429
220,837
299,689
232,632
3,497,333
4,306,831
No. : C.TEL 441/LP000/COM-10/2006 ■ Number of Pages : 24
37.4
14.1
28.2
31.1
228.9
33.8
(13.9)
103.8
52.1
101.1
0.5
88.5
2.3
23.8
16.8
66.8
(18.1)
(34.7)
22.7
(100.0)
(0.0)
(0.7)
30.4
First Half of 2006 Results (Unaudited)
15
Table 2 a (continued)
PT TELEKOMUNIKASI INDONESIA Tbk and SUBSIDIARIES
BREAKDOWN OF THE CONSOLIDATED INCOME STATEMENTS
For the six months period ended June 30, 2005 and 2006
(in millions Rupiah, except per share and per ADS data)
2005
1
2
2006
3
Growth (%)
4=(3–2)/2
(Restated)
Operation, maintenance and telecommunications services
Operations and maintenance
Concession fees
Cost of phone, SIM and RUIM cards
Radio frequency usage charges
Electricity, gas and water
Vehicles and supporting facilities
Others
Total O & M
General and administrative
Amortization of goodwill and other Intangible assets
Provision for doubtful accounts and inventory obsolescence
Collection expenses
General and social contribution
Training, education and recruitment
Travelling
Security and screening
Professional fees
Others
Total G & A
Marketing
TOTAL OPERATING EXPENSES
OPERATING INCOME
OTHER INCOME (CHARGES)
Interest income
Interest expense
Gain (loss) on foreign exchange - net
Equity in net income (loss) of associated companies
Others - net
Total Other Income (Charges) - net
1,391,851
319,813
295,819
275,836
197,227
102,478
212,843
2,795,867
1,813,475
416,096
286,815
314,423
196,721
120,061
229,319
3,376,910
30.3
30.1
(3.0)
14.0
(0.3)
17.2
7.7
20.8
459,076
218,312
174,482
45,254
69,919
73,707
78,883
51,787
51,899
1,223,321
449,239
11,295,478
457,299
269,636
213,491
156,447
83,323
100,176
89,613
65,657
61,096
1,496,738
507,013
13,184,825
(0.4)
23.5
22.4
245.7
19.2
35.9
13.6
26.8
17.7
22.4
12.9
16.7
8,089,112
10,811,720
33.7
136,178
(647,594)
(357,003)
6,792
265,947
(595,680)
INCOME BEFORE TAX
TAX EXPENSE
Currrent tax
Deffered tax
Total TAX EXPENSE
INCOME BEFORE MINORITY INTEREST IN NET INCOME OF SUBSIDIARIES
MINORITY INTEREST IN NET INCOME OF SUBSIDIARIES
NET INCOME
NET INCOME PER SHARE (FULL AMOUNT)
NET INCOME PER ADS (40 SERIES B SHARES PER ADS) (FULL AMOUNT)
325,992
(585,803)
586,597
(3,218)
52,119
375,687
139.4
9.5
264.3
(147.4)
(80.4)
163.1
7,493,432
11,187,407
49.3
(2,545,814)
216,485
(2,329,329)
(3,636,860)
166,084
(3,470,776)
42.9
(23.3)
49.0
5,164,103
7,716,631
49.4
(1,360,692)
(1,897,671)
39.5
3,803,411
5,818,960
53.0
188.66
288.71
53.0
7,546.45
11,548.30
53.0
No. : C.TEL 441/LP000/COM-10/2006 ■ Number of Pages : 24
First Half of 2006 Results (Unaudited)
16
Table 3
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
For the six months period ended June 30, 2005 and 2006
(in millions of Rupiah)
2005
(As restated)
2006
CASH FLOWS FROM OPERATING ACTIVITIES
Cash receipts from operating revenues
Telephone
Fixed lines
Cellular
Joint operation schemes
Interconnection - net
Other services
Total cash receipts from operating revenues
Cash payments for operating expenses
5,820,641
6,495,248
305,749
3,018,150
3,622,348
19,262,136
(7,679,669)
5,930,123
9,032,754
268,756
4,216,705
4,587,909
24,036,247
(7,347,101)
Cash generated from operations
11,582,467
16,689,146
Interest received
Income tax paid
Interest paid
Cash receipt (refund) from (to) customers and advances
136,685
(2,754,115)
(550,979)
(14,612)
305,193
(3,864,969)
(519,651)
103,495
8,399,446
12,713,214
(80,468)
80,117
(4,808,148)
(18,468)
2,027
(7,334,216)
261,990
(7,355)
-
(78,071)
74,372
(436,000)
Net Cash Used in Investing Activities
(4,553,864)
(7,790,356)
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of Medium-term Notes
Repayments of long-term liabilities
Repayment of obligation under capital lease
Cash dividends paid
(Increase) decrease in escrow accounts
Redemption of Telkomsel’s notes
Payment for purchase of treasury stock
Proceeds from borrowings
(290,000)
(2,054,601)
(554,550)
(47,956)
(780,565)
1,018,546
(145,000)
(1,230,711)
(6,588)
122,698
(413,740)
785,195
Net Cash Used in Financing Activities
(2,709,126)
(888,146)
Net Cash Provided by Operating Activities
CASH FLOWS FROM INVESTING ACTIVITIES
(Placement) Proceed of time deposits and
short-term investments - net
Proceeds from sale of property, plant and equipment
Acquisition of property, plant and equipment
(Increase) decrease in advance for acquisition of
property, plant and equipment
Decrease (increase) in advances and others
Acquisition of intangible assets
NET (DECREASE) INCREASE IN CASH AND
CASH EQUIVALENTS
EFFECT OF EXCHANGE RATE CHANGES
ON CASH AND CASH EQUIVALENTS
1,136,456
17,292
4,034,712
(63,143)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR
4,856,124
5,374,684
CASH AND CASH EQUIVALENTS AT END OF THE PERIOD
6,009,872
9,346,253
No. : C.TEL 441/LP000/COM-10/2006 ■ Number of Pages : 24
First Half of 2006 Results (Unaudited)
17
Table 4
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
FINANCIAL RATIOS
For the years ended June 30, 2005 and 2006
1
Contribution of pulses to total fixed-phone revenue:
Local Calls (%)
Domestic Long Distance Calls (%)
Monthly subscription charges (%)
Installation charges (%)
Others (%)
Contribution to total operating revenues:
Cellular (%)
Fixed-phone (%)
Revenue under JOS (%)
Interconnection (%)
Network (%)
Data dan internet (%)
Revenue under RSA (%)
Other telecommunications services (%)
EBITDA (Rp million)
EBITDA margin (%)
Operating margin (%)
Profit Margin (%)
Current ratio (%)
Return on Assets (%)
Return on Equity (%)
Total Liabilities to Equity (%)
Gearing (Net Debt to Equity) (%)
Debt to Equity (%)
Debt to EBITDA (%)
Debt Service Ratio (Times)
EBITDA to Interest Expense (times)
EBITDA to Net Debt (%)
ARPU Fixed wireline (‘000)
2005
2006
30.68
36.18
29.75
1.82
1.48
31.98
33.48
31.98
1.62
0.92
1.3
(2.7)
2.2
(0.2)
(0.6)
33.06
28.24
1.63
18.74
1.00
15.79
0.52
1.02
11,851,756
61.14
41.73
19.62
74.26
6.50
20.07
181.52
46.07
78.75
125.93
3.31
18.30
135.75
203
39.35
22.24
1.26
17.16
1.23
17.07
0.85
0.84
15,575,850
64.91
45.06
24.25
75.31
8.60
23.95
153.16
12.28
50.96
79.50
5.06
26.59
521.99
200
6.3
(6.0)
(0.4)
(1.6)
0.2
1.3
0.3
(0.2)
31.4
3.8
3.3
4.6
1.0
2.1
3.9
(28.4)
(33.8)
(27.8)
(46.4)
1.7
8.3
386.2
(1.2)
2
3
Growth (%)
4=(3–2)/2
No. : C.TEL 441/LP000/COM-10/2006 ■ Number of Pages : 24
First Half of 2006 Results (Unaudited)
18
Table 5
PT TELEKOMUNIKASI INDONESIA Tbk and SUBSIDIARIES
FIXED TELEPHONE LINE
As of June 30, 2005 and 2006
1
UNIT
2
1H/2005
3
1H/2006
4
Growth (%)
5=(4–3)/3
Exchange Capacity TELKOM Division
Wireline
Wireless
Total Exchange Cap. TELKOM (Wireline & Wireless)
Lines (‘000)
Lines (‘000)
Lines (‘000)
8,957
1,953
10,910
9,279
5,876
15,156
3.6%
200.9%
38.9%
Exchange Capacity KSO Division
Wireline
Wireless (MSC)
Total Exchange Cap. KSO (Wireline & Wireless)
Lines (‘000)
Lines (‘000)
Lines (‘000)
1,032
190
1,222
1,049
364
1,412
1.6%
91.7%
15.6%
Exchange Capacity TELKOM & KSO Division
Wireline
Wireless
Total Exchange Cap. TELKOM & KSO (Wireline & Wireless)
Lines (‘000)
Lines (‘000)
Lines (‘000)
9,990
2,142
12,132
10,328
6,240
16,568
3.4%
191.3%
36.6%
Installed Lines TELKOM Division
Wireline
Wireless
Total Installed Lines TELKOM (Wireline & Wireless)
Lines (‘000)
Lines (‘000)
Lines (‘000)
8,388
2,876
11,264
8,591
6,765
15,355
2.4%
135.2%
36.3%
Installed Lines KSO Division
Wireline
Wireless
Total Installed Lines KSO (Wireline & Wireless)
Lines (‘000)
Lines (‘000)
Lines (‘000)
973
262
1,235
1,008
538
1,545
3.6%
105.1%
25.1%
Installed Lines TELKOM & KSO Division
Wireline
Wireless
Total Installed Lines TELKOM & KSO (Wireline & Wireless)
Lines (‘000)
Lines (‘000)
Lines (‘000)
9,360
3,139
12,499
9,598
7,303
16,901
2.5%
132.7%
35.2%
Subscribers TELKOM Division
Wireline
Wireless
Total Subscribers TELKOM Division (Wireline & Wireless)
Lines (‘000)
Lines (‘000)
Lines (‘000)
7,378
3,236
10,614
7,399
2,904
10,303
0.3%
-10.3%
-2.9%
Subscribers KSO Division
Wireline
Wireless
Total Subscribers KSO Division (Wireline & Wireless)
Lines (‘000)
Lines (‘000)
Lines (‘000)
832
214
1,046
874
317
1,191
5.0%
48.0%
13.8%
Subscribers TELKOM & KSO Division
Wireline
Wireless
Total Subscribers -TELKOM & KSO Division (Wireline & Wireless)
Lines (‘000)
Lines (‘000)
Lines (‘000)
8,210
3,451
11,661
8,273
3,221
11,494
0.8%
-6.6%
-1.4%
Public Phone TELKOM Division
Wireline
Wireless
Total Public Phone TELKOM Division (Wireline & Wireless)
Lines (‘000)
Lines (‘000)
Lines (‘000)
396
8
403
360
13
373
-8.9%
66.2%
-7.5%
Public Phone KSO Division
Wireline
Wireless
Total Public Phone KSO Division (Wireline & Wireless)
Lines (‘000)
Lines (‘000)
Lines (‘000)
29
28
29
28
-2.6%
0.0%
-2.6%
Public Phone TELKOM & KSO Division
Wireline
Wireless
Total Public Phone TELKOM & KSO Division (Wireline & Wireless)
Lines (‘000)
Lines (‘000)
Lines (‘000)
425
8
432
389
13
401
-8.5%
66.2%
-7.2%
LIS Fixed TELKOM Division
Wireline
Wireless
Total Lines In Services TELKOM (Wireline & Wireless)
Lines (‘000)
Lines (‘000)
Lines (‘000)
7,774
3,244
11,018
7,759
2,917
10,676
-0.2%
-10.1%
-3.1%
LIS Fixed KSO Division
Wireline
Wireless
Total Lines In Services KSO (Wireline & Wireless)
Lines (‘000)
Lines (‘000)
Lines (‘000)
861
214
1,075
902
317
1,219
4.8%
48.0%
13.4%
LIS Fixed TELKOM & KSO Division
Wireline
Wireless
Total Lines In Services TELKOM & KSO Division (Wireline & Wireless)
Lines (‘000)
Lines (‘000)
Lines (‘000)
8,635
3,458
12,093
8,661
3,234
11,895
0.3%
-6.5%
-1.6%
No. : C.TEL 441/LP000/COM-10/2006 ■ Number of Pages : 24
First Half of 2006 Results (Unaudited)
19
Table 6
PT TELEKOMUNIKASI INDONESIA Tbk and SUBSIDIARIES
FIXED LINE PRODUCTION
As of June 30, 2005 and 2006
1
Production:
Subscriber -TELKOM Division
Wireline
Wireless (exclude data & sms)
Total Subscriber Production TELKOM (Division Wireline & Wireless)
UNIT
2
2005
3
2006
Growth (%)
4
5=(4–3)/3
Pulses (mn)
second (mn)
29,034
75,388
28,346
120,003
-2.4%
59.2%
Pulses (mn)
second (mn)
4,715
7,361
4,290
14,378
-9.0%
95.3%
Pulses (mn)
second (mn)
33,749
82,749
32,637
134,381
-3.3%
62.4%
Pulses (mn)
second (mn)
5,810
2,892
4,370
3,111
-24.8%
7.6%
Pulses (mn)
second (mn)
963
116
690
166
-28.4%
42.8%
Pulses (mn)
second (mn)
6,772
3,008
5,060
3,277
-25.3%
8.9%
Pulses (mn)
second (mn)
40,521
85,757
37,697
137,658
-7.0%
60.5%
Productivity Per Average Subscriber Line
Wireline
Wireless
Pulses Per Avrg, Subscr, Line (TELKOM & KSO Division)
Pulses/Line
second/Line
4,128
33,940
3,943
36,962
-4.5%
8.9%
Productivity Per Average LIS
Wireline
Wireless
Pulses Per Average LIS (TELKOM & KSO Division)
Pulses/Line
second/Line
4,713
35,092
4,346
37,736
-7.8%
7.5%
Subscriber -KSO Division
Wireline
Wireless (exclude data & sms)
Total Subscriber Production KSO Division (Wireline & Wireless)
Subscriber TELKOM & KSO Division
Wireline
Wireless (exclude data & sms)
Total Subscriber Production TELKOM & KSO Division (Wireline & Wireless)
Public Phone -TELKOM Division
Wireline
Wireless (exclude data & sms)
Total Public Phone Production TELKOM Division (Wireline & Wireless)
Public Phone - KSO Division
Wireline
Wireless (exclude data & sms)
Total Public Phone Production KSO Division (Wireline & Wireless)
Public Phone - TELKOM & KSO Division
Wireline
Wireless (exclude data & sms)
Total Public Phone Production TELKOM & KSO Division (Wireline & Wireless)
Lines in Services - Production
Wireline
Wireless (exclude data & sms)
Total LIS’s Pulse Production
TELKOM & KSO Division (Wireline & Wireless)
No. : C.TEL 441/LP000/COM-10/2006 ■ Number of Pages : 24
First Half of 2006 Results (Unaudited)
20
Table 7
FLEXI PERFORMANCE
As of June 30, 2005 and 2006
UNIT
2005
2006
Growth (%)
Customer Base
Classy/Postpaid
Trendy/Prepaid
FlexiHome
Total/Blended
SSF(‘000)
SSF(‘000)
SSF(‘000)
SSF(‘000)
765
2,612
81
3,458
Net Additional
Classy/Postpaid
Trendy/Prepaid
FlexiHome
Total/Blended
SSF(‘000)
SSF(‘000)
SSF(‘000)
SSF(‘000)
114
1,867
51
2,032
Sales
Classy/Postpaid
Trendy/Prepaid
FlexiHome
Total/Blended
SSF(‘000)
SSF(‘000)
SSF(‘000)
SSF(‘000)
263
2,238
51
2,552
125
1,232
1
1,358
-52.5
-44.9
-97.9
-46.8
ARPU (6 Month Average)
Classy/Postpaid
Trendy/Prepaid
Total/Blended
Rp (000)
Rp (000)
Rp (000)
102
17
44
141
29
54
38.9
65.5
22.9
BTS
1,342
1,494
11.3
Cities
219
235
7.3
NETWORK
BTS
Coverage
No. : C.TEL 441/LP000/COM-10/2006 ■ Number of Pages : 24
710
2,428
95
3,234
(17)
(801)
1
(816)
-7.2
-7.0
17.8
-6.5
-114.6
-142.9
-97.9
-140.2
First Half of 2006 Results (Unaudited)
21
Table 8
PT TELEKOMUNIKASI SELULAR (TELKOMSEL)
BALANCE SHEETS
As of June 30, 2005 and 2006
(in millions of Rupiah)
1H/2005
ASSETS
CURRENT ASSETS
Cash and cash equivalents
Short-term investment
Acct. receivable - net of allow. for doubtful acct.
Accrued income
Inventories
Prepayments
Claim for tax refund
Others
Total Current Assets
PROPERTY, PLANT AND EQUIPMENT
Fixed assets
Work in progress
Accumulated depreciation
PPE - Net Book Value
OTHER ASSETS
Long-term Investment
Advances for PPE
Equipment not used in operations-net
Intangible assets
Others
Total Other Assets
TOTAL ASSETS
3,024,249
44,955
427,767
347,455
45,172
559,304
39,667
3,196
4,491,765
23,965,770
1,084,166
(7,549,637)
17,500,299
1H/2006
3,384,671
418,973
369,691
50,539
857,792
48,683
3,483
5,133,832
32,904,186
2,763,590
(10,973,127)
24,694,649
Growth (%)
11.9%
-100.0%
-2.1%
6.4%
11.9%
53.4%
22.7%
9.0%
14.3%
37.3%
154.9%
45.3%
41.1%
9,290
180,631
28,776
218,697
9,290
316,693
439,463
417,833
30,192
1,213,471
0.0%
75.3%
4.9%
454.9%
22,210,761
31,041,952
39.8%
170,000
241,376
1,888,326
817,406
1,229,475
1,641,894
322,548
6,311,025
442,156
2,536,143
1,021,087
1,610,546
5,850,000
317,463
11,777,395
-100.0%
83.2%
34.3%
24.9%
31.0%
256.3%
-1.6%
86.6%
CURRENT LIABILITIES
Short-term loan
Accounts payable
Accrued liabilities
Taxes payable
Unearned revenue
Dividend payable
Curr. maturities of long-term loan
Total Current Liabilities
NON-CURRENT LIABILITIES
Long term loan - net of current maturities
Provision for employee benefits
Deferred tax liabilities
Total Non-current Liabilities
EQUITY
Capital stock - Rp 1,000,000 par value
Authorized - 650,000 shares
Issued and fully paid - 182,570 shares
Additional paid-in capital
Retained earnings
Total Equity
663,943
41,223
808,696
1,513,862
1,035,509
62,579
945,024
2,043,112
56.0%
51.8%
16.9%
35.0%
182,570
1,504,854
12,698,450
14,385,874
182,570
1,504,854
15,534,021
17,221,445
0.0%
0.0%
22.3%
19.7%
TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY
22,210,761
31,041,952
39.8%
No. : C.TEL 441/LP000/COM-10/2006 ■ Number of Pages : 24
First Half of 2006 Results (Unaudited)
22
Table 9
PT TELEKOMUNIKASI SELULAR (TELKOMSEL)
INCOME STATEMENTS
For the six months period ended June 30, 2005 and 2006
(in millions of Rupiah)
1H/2005
OPERATING REVENUES
Post-paid
Prepaid
International roaming
Interconnection revenues
Gross Operating Revenues
Less:
- Discounts
- Interconnect / Intl. roaming / Data provider Outpayment
Net Operating Revenues
1H/2006
Growth (%)
2,202,752
7,533,967
397,230
1,392,629
11,526,578
2,396,982
11,393,142
398,963
1,736,593
15,925,680
8.8%
51.2%
0.4%
24.7%
38.2%
945,240
1,261,134
9,320,204
1,027,359
1,586,509
13,311,812
8.7%
25.8%
42.8%
285,192
1,280,893
279,298
199,740
564,001
1,295,461
3,904,585
475,526
1,898,309
356,821
297,019
666,598
1,971,282
5,665,555
66.7%
48.2%
27.8%
48.7%
18.2%
52.2%
45.1%
EBIT (EARNINGS BEFORE INTEREST & TAXES)
OTHER INCOME/(CHARGES)
Interest income & financing charges
Foreign exchange gain/(loss)
Others - net
Other income/(charges) - net
5,415,619
7,646,257
41.2%
INCOME BEFORE TAX
PROVISION FOR INCOME TAX
NET INCOME
5,409,604
1,617,340
3,792,264
7,655,210
2,324,052
5,331,158
41.5%
43.7%
40.6%
EBITDA
EBITDA Margin - over net revenues
EBITDA Margin - over gross revenues
6,711,080
72%
58%
9,617,539
72%
60%
43.3%
0.0%
2.0%
OPERATING EXPENSES
Personnel
Operation & maintenance
General & administrative
Marketing & selling
Rev. dependent & other cost of services
Depreciation and amortization
Total Operating Expenses
No. : C.TEL 441/LP000/COM-10/2006 ■ Number of Pages : 24
(13,000)
(20,348)
27,333
(6,015)
24,176
101,091
(116,314)
8,953
286.0%
596.8%
-525.5%
248.8%
First Half of 2006 Results (Unaudited)
23
Table 10
PT TELEKOMUNIKASI SELULAR (TELKOMSEL)
OPERATIONAL INDICATORS
As of June 30, 2005 and 2006
UNIT
CUSTOMER BASE
Net Additions
kartuHALO
simPATI
Kartu As
Total
Customer Base
kartuHALO
simPATI
Kartu As
Total
MOU (chargeable minutes of use) - total
ARPU
Total (6 months average)
kartuHALO
simPATI
Kartu As
Blended
Non-voice/Data (6 months average)
kartuHALO
simPATI
Kartu As
Blended
NETWORK DATA
Network capacity
Base stations installed
Overall capacity all network elements
Quality of service
Call success rate
Call completion rate
EMPLOYEE DATA
Total employees
Efficiency ratio
1H/2005
1H/2006
Growth (%)
Subscriber
Subscriber
Subscriber
Subscriber
(000)
(000)
(000)
(000)
99
2,215
2,944
5,258
101
2,887
2,013
5,001
2.0%
30.3%
-31.6%
-4.9%
Subscriber
Subscriber
Subscriber
Subscriber
(000)
(000)
(000)
(000)
1,426
13,773
6,349
21,548
1,572
18,891
8,807
29,270
10.2%
37.2%
38.7%
35.8%
4.3
7.9
83.7%
billion minutes
Rp
Rp
Rp
Rp
’000
’000
’000
’000
per
per
per
per
mo.
mo.
mo.
mo.
294
80
42
87
277
83
50
85
-5.8%
3.8%
19.0%
-2.3%
Rp
Rp
Rp
Rp
’000
’000
’000
’000
per
per
per
per
mo.
mo.
mo.
mo.
46
23
14
23
48
24
16
25
4.3%
4.3%
14.3%
8.7%
7,741
22.9
12,156
31.2
57.0%
36.2%
94.17%
99.26%
95.37%
99.45%
1.2%
0.2%
3,315
6,500
3,690
7,932
11.3%
22.0%
Unit
Subs. mln.
%
%
person
Subs/employee
No. : C.TEL 441/LP000/COM-10/2006 ■ Number of Pages : 24
Investor Relations Dept.
PT TELEKOMUNIKASI INDONESIA Tbk
Grha Citra Caraka
Jl. Gatot Subroto Kav. 52, 5th Floor
Phone
: 62 21 5215109
Fax
: 62 21 5220500
Email
: [email protected]
Website : www.telkom-indonesia.com