Balance Sheet

Dec 31, 2017

Assets
Cash and cash equivalent 6,054,168,529,301
Non Cash Assets 1,301,255,469,311
Total 7,355,423,998,612

Liabilities and Equity

Total liabilities 10,613,825,618,217
Equity:
Share capital 7,000,000,000,000
Other paid-in capital 4,752,112,049,937
Other components of equity 552,273,794,533
Other comprehensive loss -212,770,072,171
Equity difference of subsidiary -26,316,798,626
Retained earnings:
Appropriated 8,529,641,394,521
Unappropriated 1,442,870,556,800
Equity attributable to owner of ther parent entity 22,037,810,924,994
Non-controlling interests 322,775,453
Total Equity 22,038,133,700,447
Total Liabilities and Equity 32,651,959,318,664
Statement of Cash Flows
For Year Ended Dec 31, 2018

Operating cash flows 3,154,943,492,388

Investing cash flows -8,727,372,075,524
Financing cash flows 3,202,863,675,495
Net decrease in cash and cash equivalent -2,369,564,907,641
Cash and cash equivalent Jan 1, 2018 6,054,168,529,301
Cash and cash equivalent Dec 31, 2018 3,684,603,621,660
Statement of Shareholders' Equity

Balance Dec 31, 2017 7,000,000,000,000

Share issued for stock options
Stock based compensation
Change in preference shares
Other
Balance Dec 31, 2018

Retained Earnings, Dec 31, 2017

Appropriated 8,529,641,394,521
 Other paid-in capital 4,752,112,049,937
Other components of equity 552,273,794,533
Other comprehensive loss -212,770,072,171
Equity difference of subsidiary -26,316,798,626
Retained earnings:
Appropriated 8,529,641,394,521
Unappropriated 1,442,870,556,800
Equity attributable to owner of ther parent entity 15,529,641,394,521
Non-controlling interests 322,775,453
Total Equity 15,529,964,169,974
Balance Sheet
Dec 31, 2017
Assets
Cash and cash equivalent 3,684,603,621,660
Non Cash Assets 1,823,290,718,166
Total 5,507,894,339,826

Liabilities and Equity

Total liabilities 14,903,829,682,017
Equity:
Share capital 7,000,000,000,000
Other paid-in capital 4,752,112,049,937
Other components of equity 552,273,794,533
Other comprehensive loss -212,770,072,171
Equity difference of subsidiary -26,316,798,626
Retained earnings:
Appropriated 8,529,641,394,521
Unappropriated 1,442,870,556,800
Equity attributable to owner of ther parent entity 22,037,810,924,994
Non-controlling interests 322,775,453
Total Equity 22,038,133,700,447
Total Liabilities and Equity 36,941,963,382,464
 PT ANGKASA PURA II (PERSERO) AND ITS SUBSIDIARIES
CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2018 AND FOR THE YEAR ENDED DEC

Statement of Financial Position Statement of Cash Flows

As of December 31, 2017 For The Year Ended Dec 31, 2018
Assets Operating cash flows 3,154,943,492,388
Cash and cash equivalent 6,054,168,529,301 Investing cash flows - 8,727,372,075,524
Non Cash Assets 1,301,255,469,311 Financing cash flows 3,202,863,675,495
Total 7,355,423,998,612 Net decrease in cash and cash equivalent - 2,369,564,907,641
Cash and cash equivalent Jan 1, 2018 6,054,168,529,301
Liabilities and Equity Cash and cash equivalent Dec 31, 2018 3,684,603,621,660
Total liabilities 10,613,825,618,217
Equity:
Share capital 7,000,000,000,000 Income Statement
Other paid-in capital 4,752,112,049,937 For The Year Ended Dec 31, 2018
Other components of equity 552,273,794,533 Operating revenue 9,486,855,085,377
Other comprehensive loss -212,770,072,171 Operating expenses - 6,483,118,556,454
Equity difference of subsidiary -26,316,798,626 Operating profit 3,003,736,528,923
Retained earnings: Non operating revenue & expense - 257,227,501,861
Appropriated 8,529,641,394,521 Profit before final tax expense & corporate inc tax 2,746,509,027,062
exp
Unappropriated 1,442,870,556,800 Final tax expense - 113,600,103,801
Equity attributable to owner of other parent 22,037,810,924,994 Profit before corporate income tax 2,632,908,923,261
entity
Non-controlling interests 322,775,453 Corporate income tax expense, net - 721,356,545,635
Total Equity 22,038,133,700,447 Profit for the year 1,911,552,377,626
Total Liabilities and Equity 32,651,959,318,664 Non-controlling interest 57,740,162
Profit for the year atributable to owner of the parent 1,911,610,117,788
entity

Statement of Changes in Equity

For The Year Ended Dec 31, 2018
Share capital, balance Dec 31, 2017 7,000,000,000,000
Share capital, balance Dec 31, 2018 7,000,000,000,000

Other paid-in capital, Dec 31, 2017 4,752,112,049,937

Deduction of government contribution - 317,188,226,335
Other paid-in capital, Dec 31, 2018 4,434,923,823,602

Other components of equity, Dec 31, 2017 552,273,794,533

Deduction of government contribution 317,188,226,335
Other components of equity, Dec 31, 2018 869,462,020,868
Difference in equity of subsidiary, Dec 31, 2018 - 26,316,798,626
 Other comprehensive loss, Dec 31, 2017 - 212,770,072,171
Point in time Remeasurement of defined benefit plan - 29,224,526,560
Changes of fair value of available-for-sale-financial - 7,988,237,000
assets
Other comprehensive loss from associate company 6,461,128,131
Other comprehensive loss, Dec 31, 2017 - 243,521,707,600

Retained Earnings, Dec 31, 2017

Appropriated 8,529,641,394,521
General reserve 1,607,787,355,683
Retained Earnings Appropriated, Dec 31, 2018 10,137,428,750,204

Retained Earnings, Dec 31, 2017

Unappropriated 1,442,870,556,800
Dividend - 301,947,000,000
General reserve - 1,607,787,355,683
Profit for the year 1,911,610,117,788
Retained Earnings Unappropriated, Dec 31, 2018 1,444,746,318,905
Non-controlling interest, Dec 31, 2017 322,775,453
Dividend - 2,746,639
Profit for the year - 57,740,162
Remeasurement of defined benefit plan 133,881
Non-controlling interest, Dec 31, 2017 262,422,533
Total Equity 23,616,984,829,886
Point of time
SUBSIDIARIES
D FOR THE YEAR ENDED DECEMBER 31, 2018

Statement of Financial Position

As of December 31, 2018
Assets
Cash and cash equivalent 3,684,603,621,660
Non Cash Assets 1,823,290,718,166
Total 5,507,894,339,826

Liabilities and Equity

Total liabilities 14,903,829,682,017
Equity:
Share capital 7,000,000,000,000
Other paid-in capital 4,434,923,823,602
Other components of equity 869,462,020,868
Other comprehensive loss -243,521,707,600
Equity difference of subsidiary -26,316,798,626
Retained earnings:
Appropriated 10,137,428,750,204

Unappropriated 1,444,746,318,905
Equity attributable to owner of ther parent 23,616,722,407,353
entity
Non-controlling interests 262,422,533
Total Equity 23,616,984,829,886
Total Liabilities and Equity 38,520,814,511,903
Point in time

NURUL DEVI ARIYANI

3.41.16.2.19 / AK-3C
Financial Statement Ratios for PT Angkasa Pura II (Persero) And Its Subsidiaries

Liquidity
Current Ratio =

2017 =

2018 =

Acid-test ratio =

2017 =

2018 =

Collection Period =

2017 =

2018 =

Days to sell inventory =

2017 =

2018 =

Capital Structure and Solvency

Total debt to equity =

2017 =
 2018 =

Long-term debt to equity =

2017 =

2018 =

Times interest earned =

2017 =

2018 =

Return on Investment
Return on assets =

2017 =

2018 =

Return on common equity =

2017 =

2018 =

Operating Performance
Gross profit margin =

2017 =
 2018 =

Operating profit margin (pretax) =

2017 =

2018 =

Net profit margin =

2017 =

2018 =

Asset Utilization
Cash turnover =

2017 =

2018 =

Accounts receivable turnover =

2017 =

2018 =

Inventory turnover =

2017 =
 2018 =

Working capital turnover =

2017 =

2018 =

PPE turnover =

2017 =

2018 =

Total asset turnover =

2017 =

2018 =

Market measures
Price-to-earnings =

2017 =

2018 =

Earnings yield =

2017 =
 2018 =

Dividend yield =

2017 =

2018 =

Dividend payout rate =

2017 =

2018 =

Price-to-book =

2017 =

2018 =
T Angkasa Pura II (Persero) And Its Subsidiaries

Current Assets
Current Liabilities

7,335,423,998,612 =
4,101,746,228,997

5,507,894,339,826 =
4,796,881,775,256

Cash and cash equivalents + Marketable securities + Accounts receivable

Current liablilities

6.054.168.529.301+0+814.010.895.838 =
4,101,746,228,997

3.684.603.621.660+0+1.077.176.029.883 =
4,796,881,775,256

Average accounts receivable

Sales/360

(814.010.895.838+807.758.024.270)/2 =
8110401907955/360

(1.077.176.029.883+814.010.895.838)/2 =
9486855085377/360

Average inventory
Cost of sales/360

(9.814.414.171+9953071317)/2 =
2722848649423/360

(Rp 10.613.264.110+Rp 9.814.414.171)/2 =

Rp 6.483.118.556.454/360

Total Liabilities
Shareholder's equity

10,613,825,618,217 =
32,651,959,318,664
 14,903,829,682,017 =
38,520,814,511,903

Long-term liabilities
Shareholder's equity

6,512,079,389,220 =
32,651,959,318,664

10,106,947,906,761 =
38,520,814,511,903

Income before income tax and interest expense

interest expense

2,832,178,475,826 =
0

2,632,908,923,261 =
0

Net income + interest expense x [1 - Tax rate)

Average total assets

(2919581256843+0)(1-(12,5%+25%)) =
(32651959318664+27991218333510)/2

(3003736528923+0)(1-(12.5%+25%) =
(38520814511903+32651959318664)/2

Net income
Average shareholders' equity

2,919,581,256,843 =
7,000,000,000,000

3,003,736,528,923 =
7,000,000,000,000

Sales - Cost of sales

Sales

8110401907955-5190820651112 =
8,110,401,907,955
 9486855085377-6483118556454 =
9,486,855,085,377

Income from operations

Sales

2,919,581,256,843 =
8,110,401,907,955

3,003,736,528,923 =
9,486,855,085,377

Net income
Sales

2,919,581,256,843 =
8,110,401,907,955

3,003,736,528,923 =
9,486,855,085,377

Sales
Average cash and equivalents

8,110,401,907,955 =
(3684603621660+6975116807074)/2

9,486,855,085,377
(6054168529301+6975116807074)/2

Sales
Average accounts receivable

8,110,401,907,955 =
(814010895838+807758024270)/2

9,486,855,085,377 =
(1077176029883+814010895838)/2

Cost of sales
Average inventory

5,190,820,651,112 =
(Rp 9.814.414.171+Rp 9.953.071.317)/2
 6,483,118,556,454 =
(Rp 10.613.264.110+Rp 9.814.414.171)/2

Sales
Average working capital

8,110,401,907,955 =
(7335423998612-4101746228997)+(8081134208499-3155875540428)/2

9,486,855,085,377 =
(5507894339826-4796881775256)+(7335423998612-4101746228997)/2

Sales
Average PPE

8,110,401,907,955 =
(24156257722127+19365740417182)/2

9,486,855,085,377 =
(29123141064596+24156257722127)/2

Sales
Average total assets

8,110,401,907,955 =
(36651959318664+27991218333510)/2

9,486,855,085,377 =
(38520814511903+36651959318664)/2

Market price per share

Earnings per share

=
287,105

=
273,087

Earnings per share

Market price per share

287,105
 273,087

Cash dividends per share

Market price per share

Cash dividends per share

Earnings per share

287,105

273,087

Market price per share

Book value per share
1.79

1.15

1.67 Rp 6,868,179,425,139

0.99

35.99 days

5555555.55555556
35.88 days

1.31 days

0.57 days

0.33
0.39

0.2

0.26

6.02 %

5.28 %

41.71 %

42.91 %

36.00 %
31.66 %

36.00 %

31.66 %

36.00 %

31.66 %

0.38

1.46

2.5 Rp8,110,401,907,955
10.0019205047 Rp 810,884,460,054

2.51

131.3
158.68

0.5

1.2

0.09

0.09

0.06

0.06
Financial Statement Ratios for PT Angkasa Pura II (Persero) And Its Subsidiaries
Financial Statement Ratios 2017 2018
Liquidity
Current Ratio 1.79 1.15
Acid-test ratio 1.6744525482 0.9926823038
Collection Period 35.99 days 35.88 days
Days to sell inventory 1.31 days 0.57 days
Capital Structure and Solvency
Total debt to equity 0.33 0.39
Long-term debt to equity 0.2 0.26
Times interest earned 0 0
Return on Investment
Return on assets 6.02 % 5.28 %
Return on common equity 41.71 % 42.91 %
Gross profit margin 36.00 % 31.66 %
Operating profit margin (pretax) 36.00 % 31.66 %
Net profit margin 36.00 % 31.66 %
Asset Utilization
Cash turnover 0.38 1.46
Accounts receivable turnover 2.5 2.51
Inventory turnover 131.3 158.68
Working capital turnover 0.5 1.2
PPE turnover 0.09 0.09
Total asset turnover 0.06 0.06
Market measures
Price-to-earnings 0 0
Earnings yield 0 0
Dividend yield 0 0
Dividend payout rate 0 0
Price-to-book 0 0