GGRM GudangGaramTbk.

COMPANY REPORT : JULY 2012

Main Board
Industry Sector : Consumer Goods Industry (5)
Industry Sub Sector : Tobacco Manufacturers (52)
COMPANY HISTORY
Established Date : 26-Jun-1958
Listing Date
: 27-Aug-1990
Under Writer IPO :
PT Danareksa
PT Multicorp
PT Merincorp
PT Surya Securities
PT Ficonensia
Securities Administration Bureau :
PT Raya Saham Registra
Plaza Central Building 2nd Fl.
Jln. Jend. Sudirman Kav. 47-48 Jakarta
Phone : 252-5666
Fax
: 252-5028
BOARD OF COMMISSIONERS
1. Juni Setiawati Wonowidjojo
2. Frank Willem Van Gelder *)
3. Lucas Mulia Suhardjo *)
4. Yudiono Muktiwidjojo *)
*) Independent Commissioners
BOARD OF DIRECTORS
1. Susilo Wonowidjojo
2. Buana Susilo
3. Fajar Sumeru
4. Ginawati
5. Herry Susianto
6. Heru Budiman
7. Istata Taswin Sidharta
8. Sony Sasono Rahmadi
AUDIT COMMITTEE
1. Frank Willem van Gelder
2. Bambang Susilo
3. Jusuf Halim
CORPORATE SECRETARY
Heru Budiman
HEAD OFFICE
Jln. Jend. A. Yani No. 79
Jakarta 10510
Phone : (021) 420-2460, 421-2018
Fax
: (021) 424-3136, 421-2024
Homepage
Email

: www.gudanggaramtbk.com
: corporate_secretary@gudanggaramtbk.com

As of 31 July 2012
:
2,199.024
Individual Index
1,924,088,000
:
Listed Shares
Market Capitalization : 108,422,358,800,000
SHAREHOLDERS (July 2012)
1. PT Suryaduta Investama
2. PT Suryamitra Kusuma
3. Public ( <5% )

1,333,146,800 :
120,442,700 :
470,498,500 :

DIVIDEND ANNOUNCEMENT
Bonus
Cash
Year Shares Dividend Cum Date
1991
150.00
12-Jul-91
1992
150.00
22-Jul-93
1993
155.00
06-Jul-94
1994
210.00
05-Jul-95
1996
1:1
25-Apr-96
1995
75.00
16-Jul-96
1996
150.00
07-Jul-97
120.00
03-Jul-98
1997
05-Jul-99
1998
260.00
1999
500.00
06-Jul-00
2000
500.00 27-Nov-00
300.00
2001
02-Jul-02
2002
300.00 27-Jun-03
2003
300.00
16-Jul-04
2005
500.00
21-Jul-05
2005
500.00
21-Jul-06
2006
250.00
23-Jul-07
2007
250.00
15-Jul-08
2008
350.00
14-Jul-09
2009
650.00
13-Jul-10
2010
880.00
25-Jul-11
2011
1,000.00
30-Jul-12

Ex Date
15-Jul-91
23-Jul-93
07-Jul-94
06-Jul-95
26-Apr-96
17-Jul-96
08-Jul-97
07-Jul-98
06-Jul-99
07-Jul-00
28-Nov-00
03-Jul-02
30-Jun-03
19-Jul-04
22-Jul-05
24-Jul-06
24-Jul-07
16-Jul-08
15-Jul-09
14-Jul-10
26-Jul-11
31-Jul-12

Recording
Date
20-Jul-91
30-Jul-93
14-Jul-94
14-Jul-95
06-May-96
25-Jul-96
16-Jul-97
15-Jul-98
14-Jul-99
17-Jul-00
05-Dec-00
08-Jul-02
02-Jul-03
21-Jul-04
26-Jul-05
26-Jul-06
26-Jul-07
18-Jul-08
17-Jul-09
16-Jul-10
28-Jul-11
02-Aug-12

69.29%
6.26%
24.45%

Payment
Date
09-Aug-91
23-Aug-93
13-Aug-94
14-Aug-95
03-Jun-96
19-Aug-96
14-Aug-97
13-Aug-98
11-Aug-99
31-Jul-00
19-Dec-00
19-Jul-02
11-Jul-03
04-Aug-04
08-Aug-05
07-Aug-06
09-Aug-07
01-Aug-08
30-Jul-09
29-Jul-10
08-Aug-11
16-Aug-12

F/I

F
F
F
F
F
F
F
F
I
F
F
F
F
F
F
F
F
F
F

ISSUED HISTORY
No.
1.
2.
3.
4.
5.
6.

Type of Listing
First Issue
Partial Listing
Founders Shares
Koperasi
Stock Split
Bonus Shares

Shares
57,807,800
38,396,600
375,197,600
9,620,000
481,022,000
962,044,000

Listing
Date
27-Aug-90
27-Aug-90
31-May-94
31-May-94
03-Jun-96
04-Jun-96

Trading
Date
27-Aug-90
27-Feb-91
31-May-94
00-Jan-00
03-Jun-96
05-Jun-96

GGRM GudangGaramTbk.
TRADING ACTIVITIES

Closing Price* and Trading Volume

Gudang Garam Tbk.
January 2008 - July 2012

Closing Price
Volume
(Mill. Sh)

68,000

32.0

59,500

28.0

51,000

24.0

42,500

20.0

34,000

16.0

25,500

12.0

17,000

8.0

8,500

4.0

Jan-08

Jan-09

Jan-10

Jan-11

Jan-12

Change of Closing Price,

Consumer Goods Index and Jakarta Composite Index
January 2008 - July 2012

Low
7,700
7,700
7,400
7,350
7,350
6,300
4,850
6,100
5,700
3,500
4,150
3,975

Close
8,150
7,950
7,650
7,600
7,400
6,450
6,650
6,450
5,900
4,300
4,325
4,250

Volume
Value
Freq.
(X) (Thou. Sh.) (Million Rp)

Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08

High
8,900
8,250
8,000
7,900
8,000
8,000
7,950
6,950
6,550
6,100
5,900
5,700

Day

Closing
Price*

1,537
1,412
1,198
1,004
1,222
2,500
6,935
2,520
1,382
1,637
2,657
4,113

9,222
24,259
10,764
16,022
19,304
14,817
30,068
12,962
8,854
13,891
14,107
21,780

77,100
193,522
84,527
120,726
145,599
105,909
193,560
84,623
54,392
64,496
65,035
98,833

20
19
18
22
20
21
22
20
21
18
20
19

Jan-09
Feb-09
Mar-09
Apr-09
May-09
Jun-09
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09

5,400
6,250
6,000
7,550
12,000
12,750
15,100
15,450
15,050
14,900
17,600
21,800

4,375
5,100
4,925
5,900
7,200
10,700
11,750
14,050
13,700
11,900
13,500
17,200

5,400
5,200
5,900
7,450
11,350
12,550
14,100
14,300
14,900
14,300
17,250
21,550

2,281
3,201
2,408
2,152
3,704
5,539
5,222
3,313
2,721
4,921
5,436
5,563

9,864
15,651
11,250
14,275
77,318
51,797
26,439
22,834
12,620
16,175
41,296
26,293

46,268
88,084
61,004
92,162
687,554
580,205
349,802
329,861
184,088
224,665
687,000
503,779

19
20
20
20
20
22
21
20
18
22
20
19

Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10

24,300
26,500
28,000
28,500
38,150
35,450
36,000
41,100
50,400
52,500
48,600
46,100

20,650
23,550
24,600
24,750
27,400
29,450
32,750
34,600
39,400
45,900
40,700
36,900

24,000
26,050
24,750
27,600
33,700
34,200
35,000
39,400
51,600
47,700
40,700
40,000

6,103
3,791
7,514
9,299
12,065
13,049
8,293
6,779
9,809
12,651
9,492
14,804

29,594
18,728
25,311
25,106
57,347
39,162
20,012
47,307
28,137
35,210
48,751
30,575

683,961
461,129
665,026
673,756
1,862,994
1,294,682
696,081
1,563,843
1,295,333
1,729,745
1,940,010
1,259,668

20
19
22
21
19
22
22
21
17
21
21
20

Jan-11
Feb-11
Mar-11
Apr-11
May-11
Jun-11
Jul-11
Aug-11
Sep-11
Oct-11
Nov-11
Dec-11

41,350
38,350
43,100
41,500
44,900
50,100
57,000
56,500
61,500
61,150
65,000
67,000

34,000
33,300
35,850
40,000
40,350
43,300
47,400
46,900
47,400
51,000
56,000
59,100

37,250
36,550
41,850
40,600
43,550
49,800
50,900
55,000
52,500
58,600
65,000
62,050

19,222
15,422
17,678
14,189
9,674
11,628
13,717
18,035
21,191
18,610
12,066
13,867

42,483
29,060
31,054
28,806
17,711
23,804
26,505
31,756
29,637
30,293
20,160
20,282

1,594,349
1,036,576
1,239,465
1,166,285
754,867
1,093,954
1,348,972
1,672,663
1,594,104
1,706,426
1,231,087
1,267,505

21
18
23
20
21
20
21
19
20
21
22
21

Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12

63,250
59,850
57,300
60,450
61,050
62,800
63,800

55,400
50,050
51,400
55,300
54,000
53,350
55,250

57,000
56,750
55,050
59,200
54,100
61,500
56,350

17,928
24,119
20,086
16,395
17,382
12,187
17,251

24,428
33,685
30,356
25,722
25,548
19,587
33,688

1,440,624
1,855,940
1,645,012
1,498,625
1,481,745
1,147,973
1,958,846

21
21
21
20
21
21
22

Month

700%
Jakarta Composite Index
Consumer Goods Index
Closing Price

600%

566.9%

500%
400%
300%
252.6%
200%
100%
51.7%
-100%

Jan 08

Jan 09

Jan 10

Jan 11

Jan 12

SHARES TRADED

2008

2009

2010

2011

Jul-12

Volume (Million Sh.)

Value (Billion Rp)
Frequency (Thou. X)
Days

196
1,288
28
240

326
3,834
46
241

405
14,126
114
245

332
15,706
185
247

193
11,029
125
147

Price (Rupiah)
High
Low
Close
Close*

8,900
3,500
4,250
4,250

21,800
4,375
21,550
21,550

52,500
20,650
40,000
40,000

67,000
33,300
62,050
62,050

63,800
50,050
56,350
56,350

4.35
12.00
PER (X)
8.75
13.04
PER Industry (X)
0.53
2.27
PBV (X)
* Adjusted price after corporate action

18.56
16.41
3.63

24.08
16.22
4.86

12.74
12.34
4.40

GGRM GudangGaramTbk.
Financial Data and Ratios
Public Accountant : Siddharta & Widjaja (Member of KPMG International)

Book End : December

Dec-08

Dec-09

Dec-10

Dec-11

Jun-12

Cash & Cash Equivalents

1,134,826

1,222,897

1,249,249

1,094,895

2,077,435

Receivable

2,098,598

1,038,958

915,004

937,987

1,164,732

BALANCE SHEET
(Million Rp except Par Value)

TOTAL ASSETS AND LIABILITIES (Bill. Rp)

Assets

Liabilities

40,000
32,000

Inventories

13,528,987 16,853,310 20,174,168 28,020,017 24,965,483

Current Assets

17,008,576 19,584,533 22,908,293 30,381,754 28,839,468

Fixed Assets

6,608,094

7,019,464

7,406,632

8,189,881

8,836,860

Other Assets

444,490

613,344

411,400

479,473

982,461

Total Assets

24,072,959 27,230,965 30,741,679 39,088,705 38,700,851

13.12%

Growth (%)

12.89%

27.15%

24,000
16,000
8,000

-0.99%
-

Current Liabilities
Long Term Liabilities
Total Liabilities

7,670,532
883,156

887,145

8,553,688

8,848,424

Authorized Capital
Paid up Capital
Paid up Capital (Shares)

8,481,933 13,534,319 12,999,541

939,470

1,003,458

2008

2009

2010

2011

Jun-12

1,035,944

9,421,403 14,537,777 14,035,485

3.45%

6.48%

54.31%

-3.46%

81,004

123,114

1,158,000

1,158,000

1,158,000

1,158,000

1,158,000

962,044

962,044

962,044

962,044

962,044

1,924

1,924

1,924

1,924

1,924

500

500

500

500

500

Growth (%)
Minority Interest

7,961,279

TOTAL EQUITY (Billion Rupiah)

24,551

24,665

2011

Jun-12

24,665

21,197
18,302

19,634

15,519
14,602

Par Value
Retained Earnings

14,503,522 17,285,793 20,181,418 23,382,278 23,559,059

Total Equity

15,519,266 18,301,537 21,197,162 24,550,928 24,665,366

Growth (%)
INCOME STATEMENTS
Total Revenues

Dec-08

15.82%

15.82%

0.47%

Dec-09

Dec-10

Dec-11

Jun-12

4,538

-493

2008

30,251,643 32,973,080 37,691,997 41,884,352 23,558,933

9.00%

Growth (%)
Expenses

17.93%

9,570

14.31%

2009

11.12%
TOTAL REVENUES (Billion Rupiah)

25,095,136 25,807,564 28,826,410 31,754,984 19,010,989

Gross Profit

5,156,507

7,165,516

8,865,587 10,129,368

4,547,944

Operating Expenses

1,990,872

1,958,679

3,007,726

3,514,397

1,501,192

Operating Profit

3,165,635

5,206,837

5,857,861

6,614,971

3,046,752

64.48%

12.50%

12.92%

41,884
37,692

41,884

Growth (%)

2010

33,340

30,252

32,973
23,559

24,796

Other Income (Expenses)

Income before Tax
Tax

-509,102

-378,084

-226,565

-209,379

2,656,344

4,828,213

5,631,296

6,614,971

2,837,373

775,852

1,342,312

1,416,507

1,656,869

709,009

-30,199

-68,507

1,880,492

3,455,702

4,146,282

4,958,102

2,128,364

83.77%

19.98%

19.58%

16,251

7,707

Minority Interest
Net Income

Growth (%)

2008

Dec-08

Dec-09

Dec-10

Dec-11

Jun-12

Current Ratio (%)

221.74

246.00

270.08

224.48

221.85

Dividend (Rp)

350.00

650.00

880.00

1,000.00

EPS (Rp)

977.34

1,796.02

2,154.93

2,576.86

1,106.17

BV (Rp)

8,065.78

9,511.80

11,016.73

12,759.77

12,819.25

DAR (X)

0.36

0.32

0.31

0.37

0.36

RATIOS

-838

DER(X)

0.55

0.48

0.44

0.59

0.57

ROA (%)

11.03

17.73

18.32

16.92

7.33

ROE (%)

17.12

26.38

26.57

26.94

11.50

GPM (%)

17.05

21.73

23.52

24.18

19.30

OPM (%)

10.46

15.79

15.54

15.79

12.93

NPM (%)

6.22

10.48

11.00

11.84

9.03

35.81

36.19

40.84

38.81

8.24

3.02

2.20

1.61

2009

2010

2011

Jun-12

NET INCOME (Billion Rupiah)

4,958
4,958

4,146
3,456

3,947

2,935

Payout Ratio (%)

Yield (%)

2,128

1,880
1,924

912

-99

2008

2009

2010

2011

Jun-12