NERACA PERUSAHAAN BTEL

keterangan 2007 2008

AKTIVA LANCAR
Kas dan setara kas Rp295,662,862,220 Rp501,639,725,742
Investasi jangka pendek Rp100,026,567,865 Rp1,083,022,599,227
Piutang usaha - bersih Rp102,985,581,076 Rp120,970,886,696
Persediaan Rp18,426,917,943 Rp35,757,977,390
Uang muka Rp48,955,156,754 Rp22,685,668,068
Biaya dibayar dimuka Rp206,602,524,580 Rp334,291,480,640
Pajak dibayar dimuka Rp154,323,371,704 Rp209,949,908,089
Jumlah Aktiva Lancar Rp926,982,982,142 Rp2,308,318,245,852

AKTIVA TIDAK LANCAR

Uang muka pembelian aset tetap Rp123,024,653,054 Rp327,378,215,300
Aktiva tetap - bersih Rp3,307,202,072,332 Rp5,303,281,246,648
Beban ditangguhkan - bersih Rp10,318,245,034 Rp0
Taksiran tagihan pajak penghasilan Rp13,684,245,726 Rp43,942,823,519
Aktiva derivatif Rp249,221,762,416 Rp523,739,071,687
Kas yang dibatasi penggunaannya Rp27,402,489,199 Rp31,856,593,772
Jaminan Rp6,327,344,783 Rp7,456,409,314
aset tidak lancar lainnya Rp0 Rp0
Jumlah Aktiva Tidak Lancar Rp3,737,180,812,544 Rp6,237,654,360,240

JUMLAH AKTIVA Rp4,664,163,794,686 Rp8,545,972,606,092

KEWAJIBAN DAN EKUITAS LIABILITIES AND EQUITY
KEWAJIBAN LANCAR
kewajiban jgk pendek 0 0
Hutang usaha
Pihak ketiga 186,579,573,237 522,930,230,802
Hubungan istimewa 4,867,117,654 1,894,722,185
Hutang lain-lain 9,960,205,069 6,969,793,120
Pendapatan diterima dimuka 19,720,021,045 81,472,910,478
Uang jaminan pelanggan 41,518,821,506 55,830,572,733
Biaya masih harus dibayar 171,874,239,385 216,650,441,599
Hutang pajak 7,477,326,258 6,465,373,667
Kewajiban jgk pjg yg jatuh tempo dlm 1 thn
Hutang usaha 72,369,578,778 149,022,531,748
Pinjaman bank 0 26,241,460,486
Hutang sewa pembiayaan 0 0
Jumlah Kewajiban Lancar 514,366,882,932 1,067,478,036,818

KEWAJIBAN TIDAK LANCAR

Kewajiban pajak tangguhan - bersih 76,123,128,694 117,366,753,301
kewajiban imbalan kerja 13,845,874,291 19,632,287,930
Laba ditangguhkan atas penjualan
dan penyewaan kembali - bersih 0 0
Kewajiban jangka panjang - setelah
dikurangi bagian jatuh tempo yang jatuh
tempo dlm waktu 1 thn
Hutang usaha 189,452,485,758 70,951,860,463
Pinjaman bank 1,365,755,000,000 1,563,421,715,388
Hutang sewa pembiayaan 0 0
Senior Notes - bersih 0 0
Hutang obligasi 643,257,697,900 644,702,476,923
Jumlah Kewajiban Tidak Lancar 2,274,588,312,352 2,396,442,806,075

Jumlah Kewajiban 2,788,955,195,284 3,463,920,842,893

EKUITAS EQUITY
Modal saham
Nilai nominal
Saham biasa seri A Rp 200
Saham biasa seri B Rp 100
Modal dasar
Saham biasa seri A 10.000.000.000 saham
Saham seri B 32.111.652.195 saham
Modal ditempatkan dan disetor penuh
Saham biasa seri A 5.751.502.450 saham
Saham biasa seri B 22.730.915.129 saham thn 2008
13.202.174.417 saham pada tahun 2007 2,470,517,931,700 3,423,392,002,900
Tambahan modal disetor 33,870,502,548 2,141,166,570,210
Saham beredar yang diperoleh kembali 0 -68,942,550,000
agio saham yang diperoleh kembali 0 20,943,398,108
Laba investasi jangka pendek yg belum tereali 612,896,738 5,950,137,230
Cadangan lindung nilai 217,077,222,113 269,599,531,383
Defisit -846,869,953,697 -710,057,326,632

Ekuitas - bersih 1,875,208,599,402 5,082,051,763,199

JUMLAH KEWAJIBAN TOTAL DAN EKUITAS 4,664,163,794,686 8,545,972,606,092

LAPORAN L/R PERUSAHAAN BTEL

Keterangan 2007 2008
PENDAPATAN
Pendapatan usaha - kotor
Jasa telekomunikasi 1,503,389,726,938 2,503,861,351,672
Jasa interkoneksi 168,642,356,823 301,447,743,551
Jumlah pendapatan usaha 1,672,032,083,761 2,805,309,095,223
Beban interkoneksi -244,690,894,770 -284,354,144,186
Potongan harga -137,452,336,168 -318,662,914,791

Pendapatan Usaha - Bersih 1,289,888,852,823 2,202,292,036,246

BEBAN USAHA
Beban penyusutan 216,240,109,607 432,360,984,762
Beban operasi dan pemeliharaan 267,908,591,748 536,557,325,851
Beban umum dan administrasi 112,585,995,762 178,021,100,890
Beban karyawan 153,807,586,045 241,030,386,481
Beban penjualan dan pemasaran 210,233,173,471 423,926,465,794
Biaya usaha lainnya 10,824,415,219 11,763,024,057

Beban Usaha 971,599,871,852 1,823,659,287,835

LABA USAHA 318,288,980,971 378,632,748,411

PENGHASILAN (BEBAN) LAIN-LAIN

Beban keuangan - bersih -89,858,989,534 -131,760,182,179
Laba (rugi) selisih kurs - bersih 8,010,910,090 -44,487,670,117
Penyisihan piutang ragu-ragu -17,384,783,050 -12,490,675,694
Lain-lain - bersih 636,481,822 -11,837,968,749
amortisasi lab ditangguhkan ata pjl & sewa 0 0
pendapatan bunga 0 0
Beban Lain-lain - Bersih -98,596,380,672 -200,576,496,739

LABA SEBELUM BEBAN PAJAK 219,692,600,299 178,056,251,672

BEBAN PAJAK Tangguhan -75,423,611,426 -41,243,624,607

LABA BERSIH 144,268,988,873 136,812,627,065

LABA BERSIH PER SAHAM DASAR 7.65 5.19

LABA BERSIH PER SAHAM DASAR DILUSIAN 7.42 5.19

N BTEL
2009 2010 2008

Rp715,672,709,550 Rp333,682,733,522 Rp205,976,863,522

Rp557,798,068,808 Rp273,625,779,595 Rp982,996,031,362
Rp94,468,973,285 Rp102,278,278,770 Rp17,985,305,620
Rp27,663,062,467 Rp27,798,487,925 Rp17,331,059,447
Rp17,752,614,593 Rp97,867,880,922 -Rp26,269,488,686
Rp114,655,247,894 Rp271,753,882,741 Rp127,688,956,060
Rp203,798,590,848 Rp186,180,572,026 Rp55,626,536,385
Rp1,731,809,267,445 Rp1,293,187,615,501 Rp1,381,335,263,710

Rp149,299,002,847 Rp256,265,945,222 Rp204,353,562,246

Rp9,314,678,257,934 Rp10,296,326,312,210 Rp1,996,079,174,316
Rp0 Rp5,938,816,642 -Rp10,318,245,034
Rp45,615,970,187 Rp29,194,714,912 Rp30,258,577,793
Rp69,978,503,322 Rp192,286,106,915 Rp274,517,309,271
Rp39,745,869,788 Rp142,952,600,594 Rp4,454,104,573
Rp85,148,177,232 Rp92,771,873,989 Rp1,129,064,531
Rp0 Rp43,967,401,593
Rp9,704,465,781,310 Rp11,059,703,772,077 Rp2,500,473,547,696

Rp11,436,275,048,755 Rp12,352,891,387,578 Rp3,881,808,811,406

235,000,000,000 0

948,265,325,074 1,055,756,237,041 Rp336,350,657,565

1,952,203,668 2,118,009,451 -Rp2,972,395,469
8,068,617,691 19,714,844,325 -Rp2,990,411,949
68,121,003,152 42,529,228,394 Rp61,752,889,433
34,212,754,408 47,601,665,661 Rp14,311,751,227
151,945,407,304 150,586,358,845 Rp44,776,202,214
8,670,528,405 14,671,386,529 -Rp1,011,952,591

60,908,437,400 0 Rp76,652,952,970
241,007,514,670 28,353,425,000 Rp26,241,460,486
293,151,533,364 398,274,674,684
2,051,303,325,136 1,759,605,829,930 Rp553,111,153,886

164,639,066,027 253,135,066,158 Rp41,243,624,607

25,150,416,079 31,512,512,669 Rp5,786,413,639

95,126,334,737 85,052,086,048
 0 0 -Rp118,500,625,295
1,067,030,355,425 245,117,756,215 Rp197,666,715,388
2,339,278,887,117 1,963,077,060,102
0 2,172,591,561,330
646,147,255,946 647,969,196,327 Rp1,444,779,023
4,337,372,315,331 5,398,455,238,849 Rp121,854,493,723

6,388,675,640,467 7,158,061,068,779 Rp674,965,647,609

3,423,392,002,900 3,423,392,002,900 Rp952,874,071,200

2,141,166,570,210 2,141,166,570,210 Rp2,107,296,067,662
-11,000,000,000 -11,000,000,000 -Rp68,942,550,000
50,623,174,275 50,623,174,275 Rp20,943,398,108
2,514,674,254 0 Rp5,337,240,492
41,849,654,706 192,286,106,915 Rp52,522,309,270
-611,615,214,441 -601,639,485,331 Rp136,812,627,065

5,036,930,861,904 5,194,830,318,799 Rp3,206,843,163,797

11,425,606,502,371 12,352,891,387,578 Rp3,881,808,811,406

AAN BTEL
2009 2010

3,117,869,172,435 3,143,701,039,329 1,000,471,624,734

317,686,351,629 303,417,308,883 132,805,386,728
3,435,555,524,064 3,447,118,348,212 1,133,277,011,462
-241,114,171,289 -290,406,629,699 -39,663,249,416
-451,863,954,523 -391,628,104,524 -181,210,578,623

2,742,577,398,252 2,765,083,613,989 912,403,183,423

979,223,308,028 1,144,647,880,739 216,120,875,155

 506,131,042,222 433,148,457,591 268,648,734,103
224,929,155,256 222,207,863,759 65,435,105,128
290,964,770,046 320,978,876,431 87,222,800,436
451,466,447,807 453,297,388,418 213,693,292,323
1,444,779,023 0 938,608,838

2,454,159,502,382 2,574,280,466,938 852,059,415,983

288,417,895,870 190,803,147,051 60,343,767,440

-220,448,539,580 -475,262,403,376 -41,901,192,645

97,894,615,112 127,107,210,394 -52,498,580,207
-10,604,128,332 0 4,894,107,356
-15,161,570,396 204,065,590,059 -12,474,450,571
5,616,152,243 9,001,789,664
101,325,971,330 36,817,578,808
-142,703,470,953 -98,270,234,451 -101,980,116,067

145,714,424,917 92,532,912,600 -41,636,348,627

47,272,312,726 -82,557,183,490 34,179,986,819

98,442,112,191 9,975,729,110 -7,456,361,808

3.456 0.35

0 0
 2009 2010

Rp214,032,983,808 -Rp381,989,976,028
-Rp525,224,530,419 -Rp284,172,289,213
-Rp26,501,913,411 Rp7,809,305,485
-Rp8,094,914,923 Rp135,425,458
-Rp4,933,053,475 Rp80,115,266,329
-Rp219,636,232,746 Rp157,098,634,847
-Rp6,151,317,241 -Rp17,618,018,822
-Rp576,508,978,407 -Rp438,621,651,944

-Rp178,079,212,453 Rp106,966,942,375
Rp4,011,397,011,286 Rp981,648,054,276
Rp5,938,816,642
Rp1,673,146,668 -Rp16,421,255,275
-Rp453,760,568,365 Rp122,307,603,593
Rp7,889,276,016 Rp103,206,730,806
Rp77,691,767,918 Rp7,623,696,757
Rp43,967,401,593
Rp3,466,811,421,070 Rp1,355,237,990,767

Rp2,890,302,442,663 Rp916,616,338,823

Rp235,000,000,000 -Rp235,000,000,000

Rp425,335,094,272 Rp107,490,911,967
Rp57,481,483 Rp165,805,783
Rp1,098,824,571 Rp11,646,226,634
-Rp13,351,907,326 -Rp25,591,774,758
-Rp21,617,818,325 Rp13,388,911,253
-Rp64,705,034,295 -Rp1,359,048,459
Rp2,205,154,738 Rp6,000,858,124

-Rp88,114,094,348 -Rp60,908,437,400
Rp214,766,054,184 -Rp212,654,089,670
Rp293,151,533,364 Rp105,123,141,320
Rp983,825,288,318 -Rp291,697,495,206

Rp47,272,312,726 Rp88,496,000,131
Rp5,518,128,149 Rp6,362,096,590

Rp95,126,334,737 -Rp10,074,248,689
 -Rp70,951,860,463
-Rp496,391,359,963 -Rp821,912,599,210
Rp2,339,278,887,117 -Rp376,201,827,015
Rp2,172,591,561,330
Rp1,444,779,023 Rp1,821,940,381
Rp1,940,929,509,256 Rp1,061,082,923,518

Rp2,924,754,797,574 Rp769,385,428,312

Rp57,942,550,000
Rp29,679,776,167
-Rp3,435,462,976 -Rp2,514,674,254
-Rp227,749,876,677 Rp150,436,452,209
Rp98,442,112,191 Rp9,975,729,110

-Rp45,120,901,295 Rp157,899,456,895

Rp2,879,633,896,279 Rp927,284,885,207

Rp614,007,820,763 Rp25,831,866,894
Rp16,238,608,078 -Rp14,269,042,746
Rp630,246,428,841 Rp11,562,824,148
Rp43,239,972,897 -Rp49,292,458,410
-Rp133,201,039,732 Rp60,235,849,999

Rp540,285,362,006 Rp22,506,215,737

Rp546,862,323,266 Rp165,424,572,711
-Rp30,426,283,629 -Rp72,982,584,631
Rp46,908,054,366 -Rp2,721,291,497
Rp49,934,383,565 Rp30,014,106,385
Rp27,539,982,013 Rp1,830,940,611
-Rp10,318,245,034 -Rp1,444,779,023

Rp630,500,214,547 Rp120,120,964,556

-Rp90,214,852,541 -Rp97,614,748,819

-Rp88,688,357,401 -Rp254,813,863,796
Rp142,382,285,229 Rp29,212,595,282
Rp1,886,547,362 Rp10,604,128,332
-Rp3,323,601,647 Rp219,227,160,455
Rp5,616,152,243 Rp3,385,637,421
Rp101,325,971,330 -Rp64,508,392,522
Rp57,873,025,786 Rp44,433,236,502

-Rp32,341,826,755 -Rp53,181,512,317
Rp88,515,937,333 -Rp129,829,496,216

-Rp38,370,514,874 -Rp88,466,383,081
 ANALISIS COMMON SIZE NERACA
KETERANGAN 2007 2008
AKTIVA LANCAR
Kas dan setara kas 6.339% 5.870%
Investasi jangka pendek 2.145% 12.673%
Piutang usaha - bersih 2.208% 1.416%
Persediaan 0.395% 0.418%
Uang muka 1.050% 0.265%
Biaya dibayar dimuka 4.430% 3.912%
Pajak dibayar dimuka 3.309% 2.457%
Jumlah Aktiva Lancar 19.875% 27.011%

AKTIVA TIDAK LANCAR

Uang muka pembelian aset tetap 2.638% 3.831%
Aktiva tetap - bersih 70.907% 62.056%
Beban ditangguhkan - bersih 0.221% -
Taksiran tagihan pajak penghasilan 0.293% 0.514%
Aktiva derivatif 5.343% 6.128%
Kas yang dibatasi penggunaannya 0.588% 0.373%
Jaminan 0.136% 0.087%
aset tidak lancar lainnya - -
Jumlah Aktiva Tidak Lancar 80.125% 72.989%

JUMLAH AKTIVA 100% 100%

KEWAJIBAN DAN EKUITAS LIABILITIES AND EQUITY
KEWAJIBAN LANCAR
kewajiban jgk pendek
Hutang usaha
Pihak ketiga 4.000% 6.119%
Hubungan istimewa 0.104% 0.022%
Hutang lain-lain 0.214% 0.082%
Pendapatan diterima dimuka 0.423% 0.953%
Uang jaminan pelanggan 0.890% 0.653%
Biaya masih harus dibayar 3.685% 2.535%
Hutang pajak 0.160% 0.076%
Kewajiban jgk pjg yg jatuh tempo dlm 1 thn
Hutang usaha 1.552% 1.744%
Pinjaman bank 0.000% 0.307%
Hutang sewa pembiayaan 0.000% 0.000%
Jumlah Kewajiban Lancar 11.028% 12.491%

KEWAJIBAN TIDAK LANCAR

Kewajiban pajak tangguhan - bersih 1.632% 1.373%
kewajiban imbalan kerja 0.297% 0.230%
Laba ditangguhkan atas penjualan 0.000% 0.000%
dan penyewaan kembali - bersih

Kewajiban jangka panjang - setelah

dikurangi bagian jatuh tempo yang jatuh tempo dlm waktu 1
thn
Hutang usaha 4.062% 0.830%
Pinjaman bank 29.282% 18.294%
Hutang sewa pembiayaan 0.000% 0.000%
Senior Notes - bersih 0.000% 0.000%
Hutang obligasi 13.791% 7.544%
Jumlah Kewajiban Tidak Lancar 48.767% 28.042%

Jumlah Kewajiban 59.795% 40.533%

EKUITAS EQUITY
Modal saham
Nilai nominal
Saham biasa seri A Rp 200
Saham biasa seri B Rp 100
Modal dasar
Saham biasa seri A 10.000.000.000 saham
Saham seri B 32.111.652.195 saham
Modal ditempatkan dan disetor penuh
Saham biasa seri A 5.751.502.450 saham
Saham biasa seri B 22.730.915.129 saham thn 2008
13.202.174.417 saham pada tahun 2007 52.968% 40.059%
Tambahan modal disetor 0.726% 25.055%
Saham beredar yang diperoleh kembali 0.000% -0.807%
agio saham yang diperoleh kembali 0.000% 0.245%
Laba investasi jangka pendek yg belum terealisasi 0.013% 0.070%
Cadangan lindung nilai 4.654% 3.155%
Defisit -18.157% -8.309%

Ekuitas - bersih 59.795% 40.533%

JUMLAH KEWAJIBAN TOTAL DAN EKUITAS 100% 100%

ANALISIS COMMON SIZE L/R

keterangan 2007 2008
PENDAPATAN
Pendapatan usaha - kotor
Jasa telekomunikasi 116.552% 113.693%
Jasa interkoneksi 13.074% 13.688%
Jumlah pendapatan usaha 129.626% 127.381%
Beban interkoneksi -18.970% -12.912%
Potongan harga -10.656% -14.470%
Pendapatan Usaha - Bersih 100% 100%
BEBAN USAHA
Beban penyusutan 16.764% 19.632%
Beban operasi dan pemeliharaan 20.770% 24.364%
Beban umum dan administrasi 8.728% 8.083%
Beban karyawan 11.924% 10.945%
Beban penjualan dan pemasaran 16.299% 19.249%
Biaya usaha lainnya 0.839% 0.534%

Beban Usaha 75.324% 82.807%

LABA USAHA 24.676% 17.193%

PENGHASILAN (BEBAN) LAIN-LAIN

Beban keuangan - bersih -6.966% -5.983%
Laba (rugi) selisih kurs - bersih 0.621% -2.020%
Penyisihan piutang ragu-ragu -1.348% -0.567%
Lain-lain - bersih 0.049% -0.538%
amortisasi lab ditangguhkan ata pjl & sewa - -
pendapatan bunga - -
Beban Lain-lain - Bersih -7.644% -9.108%

LABA SEBELUM BEBAN PAJAK 17.032% 8.085%

BEBAN PAJAK Tangguhan -5.847% -1.873%

LABA BERSIH 11.185% 6.212%

 2009 2010

6.258% 2.701%
4.877% 2.215%
0.826% 0.828%
0.242% 0.225%
0.155% 0.792%
1.003% 2.200%
1.782% 1.507%
15.143% 10.469%

1.305% 2.075%
81.449% 83.352%
- -
0.399% 0.236%
0.612% 1.557%
0.348% 1.157%
0.745% 0.751%
- -
84.857% 89.531%

100% 100%

8.292% 8.547%
0.017% 0.017%
0.071% 0.160%
0.596% 0.344%
0.299% 0.385%
1.329% 1.219%
0.076% 0.119%

0.533% 0.000%
2.107% 0.230%
2.563% 3.224%
17.937% 14.244%

1.440% 2.049%
0.220% 0.255%
0.832% 0.689%
 0.000% 0.000%
9.330% 1.984%
20.455% 15.892%
0.000% 17.588%
5.650% 5.245%
37.926% 43.702%

55.863% 57.946%

29.935% 27.713%
18.723% 17.333%
-0.096% -0.089%
0.443% 0.410%
0.022% 0.000%
0.366% 1.557%
-5.348% -4.870%

55.863% 57.946%

100% 100%

2009 2010

113.684% 113.693%
11.583% 10.973%
125.267% 124.666%
-8.792% -10.503%
-16.476% -14.163%
 100% 100%

35.704% 41.397%
18.455% 15.665%
8.201% 8.036%
10.609% 11.608%
16.461% 16.394%
0.053% -

89.484% 93.100%

10.516% 6.900%

-8.038% -17.188%
3.569% 4.597%
-0.387% -
-0.553% 7.380%
0.205% 0.326%
3.695% 1.332%
-5.203% -3.554%

5.313% 3.346%
1.724% -2.986%

3.589% 0.361%
 ANALISIS RASIO
R. LIQUIDITAS 2007 2008 2009 2010 analisa trend
CR 1.8022 2.1624 0.8442 0.7349 kurang baik
QR 1.7664 2.1289 0.8308 0.7191 kurang baik
LEVERAGE
TDTA 0.5980 0.4053 0.5586 0.5795 kurang baik
DER 1.4873 0.6816 1.2684 1.3779 kurang baik
TIE x
AKTIVITAS
TATO x 0.5531 0.3334 0.2745 0.2325 kurang baik
FATO x 0.6903 0.4416 0.5517 0.2663 kurang baik
ACP hari 14.3713 18.3046 14.1397 12.8078 cukup baik
RTO x 25.0499 19.6671 25.4603 28.1080 cukup baik
ADI hari
ITO x
PROFITABILITAS
NPM 11.185% 6.210% 3.590% 0.360% kurang baik
ROA 3.090% 1.600% 0.860% 0.080% kurang baik
ROE 7.690% 2.690% 1.950% 0.190% kurang baik
 NERACA PERUSAHAAN BTEL
keterangan 2007
AKTIVA LANCAR
Kas dan setara kas Rp295,662,862,220
Investasi jangka pendek Rp100,026,567,865
Piutang usaha - bersih Rp102,985,581,076
Persediaan Rp18,426,917,943
Uang muka Rp48,955,156,754
Biaya dibayar dimuka Rp206,602,524,580
Pajak dibayar dimuka Rp154,323,371,704
Jumlah Aktiva Lancar Rp926,982,982,142

AKTIVA TIDAK LANCAR

Uang muka pembelian aset tetap Rp123,024,653,054
Aktiva tetap - bersih Rp3,307,202,072,332
Beban ditangguhkan - bersih Rp10,318,245,034
Taksiran tagihan pajak penghasilan Rp13,684,245,726
Aktiva derivatif Rp249,221,762,416
Kas yang dibatasi penggunaannya Rp27,402,489,199
Jaminan Rp6,327,344,783
aset tidak lancar lainnya -
Jumlah Aktiva Tidak Lancar Rp3,737,180,812,544

JUMLAH AKTIVA Rp4,664,163,794,686

KEWAJIBAN DAN EKUITAS LIABILITIES AND EQUITY
KEWAJIBAN LANCAR
kewajiban jgk pendek -
Hutang usaha
Pihak ketiga 186,579,573,237
Hubungan istimewa 4,867,117,654
Hutang lain-lain 9,960,205,069
Pendapatan diterima dimuka 19,720,021,045
Uang jaminan pelanggan 41,518,821,506
Biaya masih harus dibayar 171,874,239,385
Hutang pajak 7,477,326,258
Kewajiban jgk pjg yg jatuh tempo dlm 1 thn
Hutang usaha 72,369,578,778
Pinjaman bank -
Hutang sewa pembiayaan -
Jumlah Kewajiban Lancar 514,366,882,932

KEWAJIBAN TIDAK LANCAR

Kewajiban pajak tangguhan - bersih 76,123,128,694
kewajiban imbalan kerja 13,845,874,291
Laba ditangguhkan atas penjualan
dan penyewaan kembali - bersih -
Kewajiban jangka panjang - setelah
dikurangi bagian jatuh tempo yang jatuh tempo dlm waktu 1
thn
Hutang usaha 189,452,485,758
Pinjaman bank 1,365,755,000,000
Hutang sewa pembiayaan -
Senior Notes - bersih -
Hutang obligasi 643,257,697,900
Jumlah Kewajiban Tidak Lancar 2,274,588,312,352

Jumlah Kewajiban 2,788,955,195,284

EKUITAS EQUITY
Modal saham
Nilai nominal
Saham biasa seri A Rp 200
Saham biasa seri B Rp 100
Modal dasar
Saham biasa seri A 10.000.000.000 saham
Saham seri B 32.111.652.195 saham
Modal ditempatkan dan disetor penuh
Saham biasa seri A 5.751.502.450 saham
Saham biasa seri B 22.730.915.129 saham thn 2008
13.202.174.417 saham pada tahun 2007 2,470,517,931,700
Tambahan modal disetor 33,870,502,548
Saham beredar yang diperoleh kembali -
agio saham yang diperoleh kembali -
Laba investasi jangka pendek yg belum terealisasi 612,896,738
Cadangan lindung nilai 217,077,222,113
Defisit -846,869,953,697

Ekuitas - bersih 1,875,208,599,402

JUMLAH KEWAJIBAN TOTAL DAN EKUITAS 4,664,163,794,686

LAPORAN L/R PERUSAHAAN BTEL

Keterangan 2007
PENDAPATAN
Pendapatan usaha - kotor
Jasa telekomunikasi 1,503,389,726,938
Jasa interkoneksi 168,642,356,823
Jumlah pendapatan usaha 1,672,032,083,761
Beban interkoneksi -244,690,894,770
Potongan harga -137,452,336,168
Pendapatan Usaha - Bersih 1,289,888,852,823
BEBAN USAHA
Beban penyusutan 216,240,109,607
Beban operasi dan pemeliharaan 267,908,591,748
Beban umum dan administrasi 112,585,995,762
Beban karyawan 153,807,586,045
Beban penjualan dan pemasaran 210,233,173,471
Biaya usaha lainnya 10,824,415,219

Beban Usaha 971,599,871,852

LABA USAHA 318,288,980,971

PENGHASILAN (BEBAN) LAIN-LAIN

Beban keuangan - bersih -89,858,989,534
Laba (rugi) selisih kurs - bersih 8,010,910,090
Penyisihan piutang ragu-ragu -17,384,783,050
Lain-lain - bersih 636,481,822
amortisasi lab ditangguhkan ata pjl & sewa -
pendapatan bunga -
Beban Lain-lain - Bersih -98,596,380,672

LABA SEBELUM BEBAN PAJAK 219,692,600,299

BEBAN PAJAK Tangguhan -75,423,611,426

LABA BERSIH 144,268,988,873

LABA BERSIH PER SAHAM DASAR 7.65

LABA BERSIH PER SAHAM DASAR DILUSIAN 7.42

CA PERUSAHAAN BTEL ANALISIS INDEX
2008 2009 2010 2007 2008

Rp501,639,725,742 Rp715,672,709,550 Rp333,682,733,522 100% 170%

Rp1,083,022,599,227 Rp557,798,068,808 Rp273,625,779,595 100% 1083%
Rp120,970,886,696 Rp94,468,973,285 Rp102,278,278,770 100% 117%
Rp35,757,977,390 Rp27,663,062,467 Rp27,798,487,925 100% 194%
Rp22,685,668,068 Rp17,752,614,593 Rp97,867,880,922 100% 46%
Rp334,291,480,640 Rp114,655,247,894 Rp271,753,882,741 100% 162%
Rp209,949,908,089 Rp203,798,590,848 Rp186,180,572,026 100% 136%
Rp2,308,318,245,852 Rp1,731,809,267,445 Rp1,293,187,615,501 100% 249%

Rp327,378,215,300 Rp149,299,002,847 Rp256,265,945,222 100% 266%

Rp5,303,281,246,648 Rp9,314,678,257,934 Rp10,296,326,312,210 100% 160%
- - Rp5,938,816,642 100%
Rp43,942,823,519 Rp45,615,970,187 Rp29,194,714,912 100% 321%
Rp523,739,071,687 Rp69,978,503,322 Rp192,286,106,915 100% 210%
Rp31,856,593,772 Rp39,745,869,788 Rp142,952,600,594 100% 116%
Rp7,456,409,314 Rp85,148,177,232 Rp92,771,873,989 100% 118%
- - Rp43,967,401,593 100%
Rp6,237,654,360,240 Rp9,704,465,781,310 Rp11,059,703,772,077 100% 167%

Rp8,545,972,606,092 Rp11,436,275,048,755 Rp12,352,891,387,578 100% 183%

- 235,000,000,000 - 100%

522,930,230,802 948,265,325,074 1,055,756,237,041 100% 280%

1,894,722,185 1,952,203,668 2,118,009,451 100% 39%
6,969,793,120 8,068,617,691 19,714,844,325 100% 70%
81,472,910,478 68,121,003,152 42,529,228,394 100% 413%
55,830,572,733 34,212,754,408 47,601,665,661 100% 134%
216,650,441,599 151,945,407,304 150,586,358,845 100% 126%
6,465,373,667 8,670,528,405 14,671,386,529 100% 86%

149,022,531,748 60,908,437,400 - 100% 206%

26,241,460,486 241,007,514,670 28,353,425,000 100%
- 293,151,533,364 398,274,674,684 100%
1,067,478,036,818 2,051,303,325,136 1,759,605,829,930 100% 208%

117,366,753,301 164,639,066,027 253,135,066,158 100% 154%

19,632,287,930 25,150,416,079 31,512,512,669 100% 142%
100%
 - 95,126,334,737 85,052,086,048 100%

70,951,860,463 - - 100% 37%

1,563,421,715,388 1,067,030,355,425 245,117,756,215 100% 114%
- 2,339,278,887,117 1,963,077,060,102 100%
- - 2,172,591,561,330 100%
644,702,476,923 646,147,255,946 647,969,196,327 100% 100%
2,396,442,806,075 4,337,372,315,331 5,398,455,238,849 100% 105%

3,463,920,842,893 6,388,675,640,467 7,158,061,068,779 100% 124%

3,423,392,002,900 3,423,392,002,900 3,423,392,002,900 100% 139%

2,141,166,570,210 2,141,166,570,210 2,141,166,570,210 100% 6322%
-68,942,550,000 -11,000,000,000 -11,000,000,000 100%
20,943,398,108 50,623,174,275 50,623,174,275 100%
5,950,137,230 2,514,674,254 - 100% 971%
269,599,531,383 41,849,654,706 192,286,106,915 100% 124%
-710,057,326,632 -611,615,214,441 -601,639,485,331 100% 84%

5,082,051,763,199 5,036,930,861,904 5,194,830,318,799 100% 271%

8,545,972,606,092 11,425,606,502,371 12,352,891,387,578 100% 183%

N L/R PERUSAHAAN BTEL

2008 2009 2010 100%

2,503,861,351,672 3,117,869,172,435 3,143,701,039,329 100% 167%

301,447,743,551 317,686,351,629 303,417,308,883 100% 179%
2,805,309,095,223 3,435,555,524,064 3,447,118,348,212 100% 168%
-284,354,144,186 -241,114,171,289 -290,406,629,699 100% 116%
-318,662,914,791 -451,863,954,523 -391,628,104,524 100% 232%
2,202,292,036,246 2,742,577,398,252 2,765,083,613,989 100% 171%

432,360,984,762 979,223,308,028 1,144,647,880,739 100% 200%

536,557,325,851 506,131,042,222 433,148,457,591 100% 200%
178,021,100,890 224,929,155,256 222,207,863,759 100% 158%
241,030,386,481 290,964,770,046 320,978,876,431 100% 157%
423,926,465,794 451,466,447,807 453,297,388,418 100% 202%
11,763,024,057 1,444,779,023 - 100% 109%

1,823,659,287,835 2,454,159,502,382 2,574,280,466,938 100% 188%

378,632,748,411 288,417,895,870 190,803,147,051 100% 119%

-131,760,182,179 -220,448,539,580 -475,262,403,376 100% 147%

-44,487,670,117 97,894,615,112 127,107,210,394 100% -555%
-12,490,675,694 -10,604,128,332 - 100% 72%
-11,837,968,749 -15,161,570,396 204,065,590,059 100% -1860%
- 5,616,152,243 9,001,789,664 100%
- 101,325,971,330 36,817,578,808 100%
-200,576,496,739 -142,703,470,953 -98,270,234,451 100% 203%

178,056,251,672 145,714,424,917 92,532,912,600 100% 81%

-41,243,624,607 47,272,312,726 -82,557,183,490 100% 55%

136,812,627,065 98,442,112,191 9,975,729,110 100% 95%

5.19 3.456 0.35 100% 68%

5.19 - -
ANALISIS INDEX
2009 2010

242% 113%
558% 274%
92% 99%
150% 151%
36% 200%
55% 132%
132% 121%
187% 140%

121% 208%
282% 311%
58%
333% 213%
28% 77%
145% 522%
1346% 1466%

260% 296%

245% 265%

508% 566%
40% 44%
81% 198%
345% 216%
82% 115%
88% 88%
116% 196%

84%

399% 342%

216% 333%
182% 228%
 78% 18%

100% 101%
191% 237%

229% 257%

139% 139%
6322% 6322%

410%
19% 89%
72% 71%

269% 277%

245% 265%

100% 100%

207% 209%
188% 180%
205% 206%
99% 119%
329% 285%
 213% 214%

453% 529%
189% 162%
200% 197%
189% 209%
215% 216%
13%

253% 265%

91% 60%

245% 529%
1222% 1587%
61%
-2382% 32061%

145% 100%

66% 42%
-63% 109%

68% 7%
45% 5%
 ANALISIS SUMBER DAN PENGGUNAAN DANA 2007-2008

SUMBER DANA
keterangan
Laba bersih 136,812,627,065
Uang muka Rp26,269,488,686
Beban ditangguhkan - bersih Rp10,318,245,034
Hutang usaha Pihak ketiga Rp336,350,657,565
Pendapatan diterima dimuka 61,752,889,433
Uang jaminan pelanggan Rp14,311,751,227
Biaya masih harus dibayar Rp44,776,202,214
Hutang usaha Rp76,652,952,970
Pinjaman bank Rp26,241,460,486
Kewajiban pajak tangguhan - bersih Rp41,243,624,607
kewajiban imbalan kerja Rp5,786,413,639
Pinjaman bank Rp197,666,715,388
Hutang obligasi Rp1,444,779,023
Modal saham Rp952,874,071,200
Tambahan modal disetor Rp2,107,296,067,662
agio saham yang diperoleh kembali Rp20,943,398,108
Laba investasi jangka pendek yg belum terealisasi Rp5,337,240,492
Cadangan lindung nilai 52,522,309,270
Defisit 136,812,627,065
Beban penyusutan 216,120,875,155

TOTAL 4,471,534,396,289

TOTAL
ANALISIS SUMBER DAN PENGGUNAAN DANA 2008-2009

SUMBER DANA
keterangan
Laba bersih Rp98,442,112,191
Investasi jangka pendek 525,224,530,419
Piutang usaha - bersih 26,501,913,411
Persediaan 8,094,914,923
Uang muka 4,933,053,475
Biaya dibayar dimuka 219,636,232,746
Pajak dibayar dimuka 6,151,317,241
Uang muka pembelian aset tetap 178,079,212,453
Aktiva derivatif 453,760,568,365
kewajiban jgk pendek 235,000,000,000
Hut. Usaha Pihak ketiga 425,335,094,272
Hut. Usaha Hubungan istimewa 425,335,094,272
Hutang lain-lain 1,098,824,571
Hutang pajak 2,205,154,738
Pinjaman bank 214,766,054,184
Hutang sewa pembiayaan 293,151,533,364
Kewajiban pajak tangguhan - bersih 47,272,312,726
kewajiban imbalan kerja 5,518,128,149
Laba ditangguhkan atas penjualan 95,126,334,737
dan penyewaan kembali - bersih
Hutang sewa pembiayaan 2,339,278,887,117
Hutang obligasi 1,444,779,023
Saham beredar yang diperoleh kembali 57,942,550,000
agio saham yang diperoleh kembali 29,679,776,167
Defisit 98,442,112,191
Beban penyusutan 546,862,323,266
TOTAL 4,597,972,215,595

ANALISIS SUMBER DAN PENGGUNAAN DANA 2009-2010

SUMBER DANA
keterangan
Laba bersih Rp9,975,729,110
Investasi jangka pendek 284,172,289,213
Pajak dibayar dimuka 17,618,018,822
Taksiran tagihan pajak penghasilan 16,421,255,275
Hutang usaha Pihak ketiga 107,490,911,967
Hutang usaha Hubungan istimewa 165,805,783
Hutang lain-lain 11,646,226,634
Uang jaminan pelanggan 13,388,911,253
Hutang pajak 6,000,858,124
Hutang sewa pembiayaan 105,123,141,320
Kewajiban pajak tangguhan - bersih 88,496,000,131
kewajiban imbalan kerja 6,362,096,590
Senior Notes - bersih 2,172,591,561,330
Hutang obligasi 1,821,940,381
Cadangan lindung nilai 150,436,452,209
Defisit 9,975,729,110
Laba (rugi) selisih kurs - bersih 29,212,595,282
Penyisihan piutang ragu-ragu 10,604,128,332
Lain-lain - bersih 219,227,160,455
amortisasi lab ditangguhkan ata pjl & sewa 3,385,637,421
TOTAL (381,989,976,028)
BER DAN PENGGUNAAN DANA 2007-2008

PENGGUNAAN DANA
keterangan
DIVIDEN
Investasi jangka pendek 205,976,863,522
Piutang usaha - bersih 17,985,305,620
Persediaan 17,331,059,447
Biaya dibayar dimuka 127,688,956,060
Pajak dibayar dimuka 55,626,536,385
Uang muka pembelian aset tetap 204,353,562,246
Aktiva tetap - bersih 1,996,079,174,316
Taksiran tagihan pajak penghasilan 30,258,577,793
Aktiva derivatif 274,517,309,271
Kas yang dibatasi penggunaannya 4,454,104,573
Jaminan 1,129,064,531
Hut.Usaha Hubungan istimewa 2,972,395,469
Hutang lain-lain 2,990,411,949
Hutang pajak 1,011,952,591
Hutang usaha 118,500,625,295
Saham beredar yang diperoleh kembali 68,942,550,000

TOTAL 3,129,818,449,068
kenaikan kas
TOTAL
BER DAN PENGGUNAAN DANA 2008-2009

PENGGUNAAN DANA
keterangan
DIVIDEN
Aktiva tetap - bersih 4,011,397,011,286
Taksiran tagihan pajak penghasilan 1,673,146,668
Kas yang dibatasi penggunaannya 7,889,276,016
Jaminan 77,691,767,918
Pendapatan diterima dimuka 13,351,907,326
Uang jaminan pelanggan 21,617,818,325
Biaya masih harus dibayar 64,705,034,295
Hutang usaha 88,114,094,348
Hutang usaha pd kew.tdk lancar 70,951,860,463
Pinjaman bank 496,391,359,963
Laba investasi jangka pendek yg belum terealisasi 3,435,462,976
 Cadangan lindung nilai 227,749,876,677

TOTAL 5,084,968,616,261
PENURUNAN KAS
TOTAL

BER DAN PENGGUNAAN DANA 2009-2010

PENGGUNAAN DANA
keterangan
DIVIDEN
Piutang usaha - bersih 7,809,305,485
Persediaan 135,425,458
Uang muka 80,115,266,329
Biaya dibayar dimuka 157,098,634,847
Uang muka pembelian aset tetap 106,966,942,375
Aktiva tetap - bersih 981,648,054,276
Beban ditangguhkan - bersih 5,938,816,642
Aktiva derivatif 122,307,603,593
Kas yang dibatasi penggunaannya 103,206,730,806
Jaminan 7,623,696,757
aset tidak lancar lainnya 43,967,401,593
kewajiban jgk pendek 235,000,000,000
Pendapatan diterima dimuka 255,917,747,588
Biaya masih harus dibayar 1,359,048,459
Hutang usaha 60,908,437,400
Pinjaman bank 821,912,599,210
Hutang sewa pembiayaan 376,201,827,015
Laba investasi jangka pendek yg belum terealisasi 2514674254
TOTAL 3,370,632,212,087
kelebihan kas
TOTAL
 Analisis Leverage BTEL Tbk

Tahun 2007 - 2008 2008 - 2009 2009-2010

% perubahan Ebit 18.959 23.825 33.845
% perubahan Penjualan 70.735 24.533 0.821
DOL 0.268 0.971 41.243

Tahun 2007 - 2008 2008 - 2009 2009-2010

% perubahan EPS 32.157 33.410 89.873
% perubahan Ebit 70.735 24.533 0.821
DFL 0.455 1.362 109.518

Tahun 2007 - 2008 2008 - 2009 2009-2010

% perubahan EPS 32.157 33.410 89.873
% perubahan Penjualan 70.735 24.533 0.821
DCL 0.455 1.362 109.518
 DUPONT
2007

ROA
ROA==3.090%
0.0309

TATO
TATO =0.5531
= 0.5531
NPM = 0.860%
NPM = 0.1118

PENJUALAN
PENJUALAN=
EAT =144,268,988,873 PENJUALAN = 1,289,888,852,823 1,289,888,852,823
=1,289,888,852,823

PENJUALAN
PENJUALAN=
1,289,888,852,823
=1,289,888,852,823
A. LANCAR=
A. LANCAR=Rp926,982,982,14
Rp926,982,982,142

TOTAL BIAYA :
B.B.usaha
OPERASI
= 971.599.871.852
= 11.968.891
B. LAIN
B. LAIN
= 98.596.380.672
= 1.589.988
PAJAK
PAJAK
= 75.423.611.426
= 859.517

DUPONT
2009

ROA
ROA==0,028074
0.860%

TATO
TATO==0.2745
0,727887
NPM
NPM==3.590%
0,079591

PENJUALAN
PENJUALAN =
EATEAT
=98,442,112,191
= 1.498.245 PENJUALAN
PENJUALAN
= 2,742,577,398,252
= 18.824.186 =2,742,577,398,252
18.824.186

PENJUALAN =
2,742,577,398,252
18.824.186 A.
A. LANCAR=
LANCAR=Rp1,731,809,267,445
7.139.627

TOTAL BIAYA :
B. B.
usaha
OPERASI
= 2.454.159.502.382
= 15.611.171
B. LAIN
B. LAIN
= 142.703.470.953
= 981.022
PAJAK
PAJAK
= 47.272.312.726
= 677.265
 ROE

tahun 2007 ROA 0.090146 0.090146 0.2425

(1-(TOTAL HUTANG/TOTAL ASET)) 1-(28.462.986/45.305.086) 0.371749

tahun 2008 ROA 0.038733 0.038733 0.1131

(1-(TOTAL HUTANG/TOTAL ASET)) 1-(33.994.764/51.693.323) 0.342376

tahun 2009 ROA 0.028074 0.028074 0.0845

(1-(TOTAL HUTANG/TOTAL ASET)) 1-(36.753.204/55.041.487) 0.332264

tahun 2010 ROA 0.012 0.012 0.0348

(1-(TOTAL HUTANG/TOTAL ASET)) 1-(34.581.701/52.818.187) 0.345269
 TATO
TATO =0.5531
= 0.5531
NPMNPM =
=6.210%
0,100675

NJUALAN =
ENJUALAN EAT =
,888,852,823
9,888,852,823 T. AKTIVA = EAT = 1.878.522
136,812,627,065
Rp4,664,163,794,686
Rp4,664,163,794,686

PENJUALAN =
PENJUALAN
18.659.133
A. LANCAR=
A. LANCAR=Rp926,982,982,142 A. TIDAK LANCAR= =2,202,292,036,246
Rp926,982,982,142 Rp3,737,180,812,544
Rp3,737,180,812,544

TOTAL
TOTAL= BIAYA ::
BIAYA
B. OPERASI 13.925.854
B. usaha = 1.823.659.287.835
B. LAIN = 2.408.164
B. LAIN = 200.576.496.739
PAJAK = 419.830
PAJAK = 41.243.624.607

TATO
TATO==0.2745
0,727887
NPM =
NPM =0.360%
0,032691

PENJUALAN EAT
NJUALAN = T. AKTIVA
T. AKTVA
= = EAT = 1.498.245
=9,975,729,110
742,577,398,252
.824.186 Rp11,436,275,048,755
55.041.487

PENJUALAN
PENJUALAN ==
A.
A. LANCAR= A. TIDAKA. TIDAK 19.796.515
2,765,083,613,989
NCAR=Rp1,731,809,267,445
7.139.627 LANCAR=
LANCAR=Rp9,704,465,781,310
47.901.860

TOTAL BIAYA :
B. usaha
B. OPERASI
= 2.574.280.466.938
= 16.322.571
B. LAIN
B. LAIN
= 98.270.234.451
= 2.392.127
PAJAK
PAJAK
= 82.557.183.490
= 357.798
 DUPONT
2008
ROA =
ROA = 1,600%
0,038733

TATO =
TATO =0.3334
PMNPM =
=6.210% 0,384730
0,100675

EAT = PENJUALAN= =
PENJUALAN PENJUALAN
1.878.522
812,627,065 2,202,292,036,246 PENJUALAN = T. AKTIVA
T. =AKTIVA =
18.659.133 =2,202,292,036,246
18.659.133 51.693.323
Rp8,545,972,606,092

UALAN =
ENJUALAN
59.133 A. TIDAK A. TIDAK
2,292,036,246 A. LANCAR=
A. LANCAR=Rp2,308,318,245,852
9.659.773 LANCAR=
LANCAR=Rp6,237,654,360,2
42.033.550

TOTAL
TOTAL= BIAYA ::
BIAYA
B. OPERASI 13.925.854
usaha = 1.823.659.287.835
B. LAIN = 2.408.164
B. LAIN = 200.576.496.739
PAJAK = 419.830
PAJAK = 41.243.624.607

DUPONT
2010
ROA =
= 0.860%
ROA0,012000

TATO =
TATO =0.2325
NPM = 0,727887
PM =0.360%
0,032691

EAT PENJUALAN = PENJUALAN

PENJUALAN =
2,765,083,613,989 PENJUALAN = T. AKTIVA
T. AKTIVA
=
1.498.245
75,729,110 =2,765,083,613,989
19.796.515 19.796.515 =12,352,891,387,578
52.818.187

UALAN = =
NJUALAN
96.515
083,613,989 A. LANCAR= A. TIDAKA. TIDAK
A. LANCAR=Rp1,293,187,615,501 LANCAR=
6.158.854 LANCAR=11,059,703,772,077
46.659.333

TOTAL BIAYA :
B.saha
OPERASI
= 2.574.280.466.938
= 16.322.571
B. LAIN
B. LAIN
= 98.270.234.451
= 2.392.127
PAJAK
PAJAK
= 82.557.183.490
= 357.798
VA =
606,092

A. TIDAK A. TIDAK
ANCAR=
ANCAR=Rp6,237,654,360,240
033.550

A. TIDAKA. TIDAK
ANCAR=
CAR=11,059,703,772,077
659.333
 PROFORMA L/R METODE COMMON SIZE

Pertumbuhan
Tahun Penjualan
Desimal Persen
2007 1,289,888,852,823 0.707350235 70.74
2008 2,202,292,036,246 0.245328664 24.53
2009 2,742,577,398,252 0.008206228 0.82
2010 2,765,083,613,989
Average 0.320295042 32.03

Proforma
keterangan 2011
PENDAPATAN
Pendapatan usaha - kotor
Jasa telekomunikasi 1,006,911,857,329.45
Jasa interkoneksi 97,183,059,779.28
Jumlah pendapatan usaha 1,104,094,917,108.73
Beban interkoneksi (93,015,803,739.86)
Potongan harga (125,436,540,299.28)

Pendapatan Usaha - Bersih 885,642,573,070

BEBAN USAHA
Beban penyusutan 366,625,041,364.98
Beban operasi dan pemeliharaan 138,735,303,540.64
Beban umum dan administrasi 71,172,077,119.18
Beban karyawan 102,807,942,799.69
Beban penjualan dan pemasaran 145,188,906,191.91
Biaya usaha lainnya

Beban Usaha 824,529,271,016.41

LABA USAHA 61,113,302,053.19

PENGHASILAN (BEBAN) LAIN-LAIN

Beban keuangan - bersih (152,224,191,586.72)
Laba (rugi) selisih kurs - bersih 40,711,809,328.12
Penyisihan piutang ragu-ragu
Lain-lain - bersih 65,361,196,797.26
amortisasi lab ditangguhkan ata pjl & sewa 2,883,228,601.09
pendapatan bunga 11,792,487,961.21
Beban Lain-lain - Bersih (31,475,468,899.03)

LABA SEBELUM BEBAN PAJAK 29,637,833,154.15

BEBAN PAJAK Tangguhan (26,442,656,577.02)
LABA BERSIH 3,195,176,577.13
 PROFORMA NERACA MENGGUNAKAN COMMON SIZE

Pertumbuhan
Tahun Total Aktiva
Desimal
2007 Rp4,664,163,794,686 0.832262541
2008 Rp8,545,972,606,092 0.3382063781
2009 Rp11,436,275,048,755 0.0801499033
2010 Rp12,352,891,387,578
Proforma 2011 0.4168729408

KETERANGAN Proforma 2011

AKTIVA LANCAR
Kas dan setara kas 139,103,302,416
Investasi jangka pendek 114,067,183,417.22
Piutang usaha - bersih 42,637,046,850.35
Persediaan 11,588,437,410.96
Uang muka 40,798,471,329.37
Biaya dibayar dimuka 113,286,840,270.83
Pajak dibayar dimuka 77,613,642,579.46
Jumlah Aktiva Lancar 539,094,924,274.18

AKTIVA TIDAK LANCAR

Uang muka pembelian aset tetap 11,183,751,722.49
Aktiva tetap - bersih 4,292,259,829,160.70
Beban ditangguhkan - bersih
Taksiran tagihan pajak penghasilan 12,170,486,661.05
Aktiva derivatif 80,158,874,863.77
Kas yang dibatasi penggunaannya 59,593,071,003.98
Jaminan 38,674,083,932.90
aset tidak lancar lainnya
Jumlah Aktiva Tidak Lancar 4,610,491,235,792.42

JUMLAH AKTIVA 5,149,586,160,067

KEWAJIBAN DAN EKUITAS LIABILITIES AND EQUITY
KEWAJIBAN LANCAR
kewajiban jgk pendek
Hutang usaha
Pihak ketiga 440,116,207,298
Hubungan istimewa 882,940,828
Hutang lain-lain 8,218,585,131
Pendapatan diterima dimuka 17,729,284,510
Uang jaminan pelanggan 19,843,846,351
Biaya masih harus dibayar 62,775,378,255
Hutang pajak 6,116,104,048
Kewajiban jgk pjg yg jatuh tempo dlm 1 thn
Hutang usaha -
Pinjaman bank 11,819,775,661
Hutang sewa pembiayaan 166,029,934,880
Jumlah Kewajiban Lancar 733,532,056,964

KEWAJIBAN TIDAK LANCAR

Kewajiban pajak tangguhan - bersih 105,525,159,448
kewajiban imbalan kerja 13,136,713,828
Laba ditangguhkan atas penjualan 35,455,913,232
dan penyewaan kembali - bersih

Kewajiban jangka panjang - setelah

dikurangi bagian jatuh tempo yang jatuh tempo dlm
waktu 1 thn
Hutang usaha -
Pinjaman bank 102,182,959,875
Hutang sewa pembiayaan 818,353,707,053
Senior Notes - bersih 905,694,633,319
Hutang obligasi 270,120,824,418
Jumlah Kewajiban Tidak Lancar 2,250,469,911,172

Jumlah Kewajiban 2,984,001,968,135

EKUITAS EQUITY
Modal saham
Nilai nominal
Saham biasa seri A Rp 200
Saham biasa seri B Rp 100
Modal dasar
Saham biasa seri A 10.000.000.000 saham
Saham seri B 32.111.652.195 saham
Modal ditempatkan dan disetor penuh
Saham biasa seri A 5.751.502.450 saham
Saham biasa seri B 22.730.915.129 saham thn 2008
13.202.174.417 saham pada tahun 2007 1,427,119,491,745
Tambahan modal disetor 892,594,404,856
Saham beredar yang diperoleh kembali (4,585,602,349)
agio saham yang diperoleh kembali 21,103,431,532
Laba investasi jangka pendek yg belum terealisasi -
Cadangan lindung nilai 80,158,874,864
Defisit (250,807,221,549)

Ekuitas - bersih 2,984,001,968,135

JUMLAH KEWAJIBAN TOTAL DAN EKUITAS 5,149,586,160,067

Pertumbuhan
Persen
83.2262541
33.8206378125
8.0149903261

41.6872940795
PROFORMA L/R MENGGUNAKAN INDIVIDUALS ITEM

LAPORAN LABA RUGI

Keterangan 2007 2008 2009

PENDAPATAN
Pendapatan usaha - kotor
Jasa telekomunikasi 1,503,389,726,938 2,503,861,351,672 3,117,869,172,435
Jasa interkoneksi 168,642,356,823 301,447,743,551 317,686,351,629
Jumlah pendapatan usaha 1,672,032,083,761 2,805,309,095,223 3,435,555,524,064
Beban interkoneksi -244,690,894,770 -284,354,144,186 -241,114,171,289
Potongan harga -137,452,336,168 -318,662,914,791 -451,863,954,523

Pendapatan Usaha - Bersih 1,289,888,852,823 2,202,292,036,246 2,742,577,398,252

BEBAN USAHA
Beban penyusutan 216,240,109,607 432,360,984,762 979,223,308,028
Beban operasi dan pemeliharaan 267,908,591,748 536,557,325,851 506,131,042,222
Beban umum dan administrasi 112,585,995,762 178,021,100,890 224,929,155,256
Beban karyawan 153,807,586,045 241,030,386,481 290,964,770,046
Beban penjualan dan pemasaran 210,233,173,471 423,926,465,794 451,466,447,807
Biaya usaha lainnya 10,824,415,219 11,763,024,057 1,444,779,023

Beban Usaha 971,599,871,852 1,823,659,287,835 2,454,159,502,382

LABA USAHA 318,288,980,971 378,632,748,411 288,417,895,870

PENGHASILAN (BEBAN) LAIN-LAIN

Beban keuangan - bersih -89,858,989,534 -131,760,182,179 -220,448,539,580
Laba (rugi) selisih kurs - bersih 8,010,910,090 -44,487,670,117 97,894,615,112
Penyisihan piutang ragu-ragu -17,384,783,050 -12,490,675,694 -10,604,128,332
Lain-lain - bersih 636,481,822 -11,837,968,749 -15,161,570,396
amortisasi lab ditangguhkan ata pjl & 0 0 5,616,152,243
pendapatan bunga 0 0 101,325,971,330
Beban Lain-lain - Bersih -98,596,380,672 -200,576,496,739 -142,703,470,953

LABA SEBELUM BEBAN PAJAK 219,692,600,299 178,056,251,672 145,714,424,917

BEBAN PAJAK Tangguhan -75,423,611,426 -41,243,624,607 47,272,312,726

LABA BERSIH 144,268,988,873 136,812,627,065 98,442,112,191

LABA BERSIH PER SAHAM DASAR 7.65 5.19 3.456

LABA BERSIH PER SAHAM DASAR DILU 7.42 5.19 0

LAPORAN LABA RUGI

Petumbuhan Proforma
2010
2007-2008 2008-2009 2009-2010 2011(0,00) 2011(%)

3,143,701,039,329 0.6654772258 0.245224369 0.0082851029 0.3063288993 30.63289

303,417,308,883 0.7874972174 0.053868733 -0.0449155045 0.265483482 26.54835
3,447,118,348,212 0.6777842498 0.224662027 0.0033656345 0.3019373039 30.19373
-290,406,629,699 0.1620953222 -0.152063804 0.2044361729 0.0714892303 7.148923
-391,628,104,524 1.3183521188 0.417999816 -0.1333052778 0.5343488856 53.43489

2,765,083,613,989 0.7073502352 0.245328664 0.0082062281 0.3202950423 32.0295

1,144,647,880,739 0.9994486016 1.264828101 0.1689344722 0.8110703916 81.10704

433,148,457,591 1.0027626675 -0.056706492 -0.1441970133 0.2672863874 26.72864
222,207,863,759 0.5812011049 0.263497159 -0.0120984383 0.2775332753 27.75333
320,978,876,431 0.5670903671 0.207170491 0.1031537474 0.2924715352 29.24715
453,297,388,418 1.0164584818 0.064964054 0.0040555408 0.3618260257 36.1826
0 0.0867121982 -0.877176225 -1 -0.5968213422 -59.68213

2,574,280,466,938 0.8769653441 0.345733558 0.048945867 0.4238815898 42.38816

190,803,147,051 0.1895879878 -0.238264791 -0.3384490013 -0.1290419347 -12.90419

-475,262,403,376 0.4662993971 0.673104393 1.1558881918 0.7650973272 76.50973

127,107,210,394 -6.553385273 -3.200488694 0.2984086024 -3.1518217882 -315.1822
0 -0.281516735 -0.151036454 -1 -0.4775177295 -47.75177
204,065,590,059 -19.5990681 0.280757765 -14.459396667 -11.259235666 -1125.924
9,001,789,664 0 0 0.6028393239 0.2009464413 20.09464
36,817,578,808 0 0 -0.6366422318 -0.2122140773 -21.22141
-98,270,234,451 1.034319063 -0.288533436 -0.3113675947 0.1448060108 14.4806

92,532,912,600 -0.189520942 -0.181638254 -0.3649708143 -0.2453766704 -24.53767

-82,557,183,490 -0.453173564 -2.146172607 -2.7464172732 -1.7819211481 -178.1921

9,975,729,110 -0.051683746 -0.280460332 -0.8986640078 -0.4102693622 -41.02694

0.35 -0.321568627 -0.334104046 -0.8987268519 -0.5181331752 -51.81332

0 -0.300539084 -1 0 -0.4335130279 -43.3513

Proforma
2011(Rp)

4,106,707,518,492
383,969,592,556
4,487,931,968,439
(311,167,576,128)
(600,894,145,763)

3,650,726,187,058

2,073,037,885,580
548,923,144,046
283,877,939,979
414,856,061,199
617,312,180,923
-

3,665,470,563,795

166,181,539,803

(838,884,397,909)
(273,512,064,758)
-
(2,093,556,979,738)
10,810,667,262
29,004,370,295
(112,500,355,078)

69,827,494,607
64,553,207,695

5,882,993,091
0

-
PROFORMA NERACA MENGGUNAKAN INDIVIDUALS ITEM

NERACA

keterangan 2007 2008

AKTIVA LANCAR
Kas dan setara kas Rp295,662,862,220 Rp501,639,725,742
Investasi jangka pendek Rp100,026,567,865 Rp1,083,022,599,227
Piutang usaha - bersih Rp102,985,581,076 Rp120,970,886,696
Persediaan Rp18,426,917,943 Rp35,757,977,390
Uang muka Rp48,955,156,754 Rp22,685,668,068
Biaya dibayar dimuka Rp206,602,524,580 Rp334,291,480,640
Pajak dibayar dimuka Rp154,323,371,704 Rp209,949,908,089
Jumlah Aktiva Lancar Rp926,982,982,142 Rp2,308,318,245,852

AKTIVA TIDAK LANCAR

Uang muka pembelian aset tetap Rp123,024,653,054 Rp327,378,215,300
Aktiva tetap - bersih Rp3,307,202,072,332 Rp5,303,281,246,648
Beban ditangguhkan - bersih Rp10,318,245,034 Rp0
Taksiran tagihan pajak penghasilan Rp13,684,245,726 Rp43,942,823,519
Aktiva derivatif Rp249,221,762,416 Rp523,739,071,687
Kas yang dibatasi penggunaannya Rp27,402,489,199 Rp31,856,593,772
Jaminan Rp6,327,344,783 Rp7,456,409,314
aset tidak lancar lainnya Rp0 Rp0
Jumlah Aktiva Tidak Lancar Rp3,737,180,812,544 Rp6,237,654,360,240

JUMLAH AKTIVA Rp4,664,163,794,686 Rp8,545,972,606,092

KEWAJIBAN DAN EKUITAS LIABILITIES AND EQUITY
KEWAJIBAN LANCAR
kewajiban jgk pendek 0 0
Hutang usaha
Pihak ketiga 186,579,573,237 522,930,230,802
Hubungan istimewa 4,867,117,654 1,894,722,185
Hutang lain-lain 9,960,205,069 6,969,793,120
Pendapatan diterima dimuka 19,720,021,045 81,472,910,478
Uang jaminan pelanggan 41,518,821,506 55,830,572,733
Biaya masih harus dibayar 171,874,239,385 216,650,441,599
Hutang pajak 7,477,326,258 6,465,373,667
Kewajiban jgk pjg yg jatuh tempo dlm 1 thn
Hutang usaha 72,369,578,778 149,022,531,748
Pinjaman bank 0 26,241,460,486
Hutang sewa pembiayaan 0 0
Jumlah Kewajiban Lancar 514,366,882,932 1,067,478,036,818
KEWAJIBAN TIDAK LANCAR
Kewajiban pajak tangguhan - bersih 76,123,128,694 117,366,753,301
kewajiban imbalan kerja 13,845,874,291 19,632,287,930
Laba ditangguhkan atas penjualan
dan penyewaan kembali - bersih 0 0

Kewajiban jangka panjang - setelah

dikurangi bagian jatuh tempo yang jatuh tempo dlm
waktu 1 thn
Hutang usaha 189,452,485,758 70,951,860,463
Pinjaman bank 1,365,755,000,000 1,563,421,715,388
Hutang sewa pembiayaan 0 0
Senior Notes - bersih 0 0
Hutang obligasi 643,257,697,900 644,702,476,923
Jumlah Kewajiban Tidak Lancar 2,274,588,312,352 2,396,442,806,075

Jumlah Kewajiban 2,788,955,195,284 3,463,920,842,893

EKUITAS EQUITY
Modal saham
Nilai nominal
Saham biasa seri A Rp 200
Saham biasa seri B Rp 100
Modal dasar
Saham biasa seri A 10.000.000.000 saham
Saham seri B 32.111.652.195 saham
Modal ditempatkan dan disetor penuh
Saham biasa seri A 5.751.502.450 saham
Saham biasa seri B 22.730.915.129 saham thn 2008
13.202.174.417 saham pada tahun 2007 2,470,517,931,700 3,423,392,002,900
Tambahan modal disetor 33,870,502,548 2,141,166,570,210
Saham beredar yang diperoleh kembali 0 -68,942,550,000
agio saham yang diperoleh kembali 0 20,943,398,108
Laba investasi jangka pendek yg belum terealisasi 612,896,738 5,950,137,230
Cadangan lindung nilai 217,077,222,113 269,599,531,383
Defisit -846,869,953,697 -710,057,326,632

Ekuitas - bersih 1,875,208,599,402 5,082,051,763,199

JUMLAH KEWAJIBAN TOTAL DAN EKUITAS 4,664,163,794,686 8,545,972,606,092

 Pertumbuhan Proform
2009 2010
2007-2008 2008-2009 2009-2010 2011(0,00)

Rp715,672,709,550 Rp333,682,733,522 0.696661265 0.426666735 -0.533749535 0.1965261548

Rp557,798,068,808 Rp273,625,779,595 9.827349397 -0.484961746 -0.509453699 2.9443113175
Rp94,468,973,285 Rp102,278,278,770 0.174639065 -0.219076789 0.082665294 0.0127425236
Rp27,663,062,467 Rp27,798,487,925 0.940529474 -0.226380671 0.004895534 0.2396814457
Rp17,752,614,593 Rp97,867,880,922 -0.536603096 -0.217452422 4.512871381 1.2529386207
Rp114,655,247,894 Rp271,753,882,741 0.618041606 -0.657020132 1.37018268 0.443734718
Rp203,798,590,848 Rp186,180,572,026 0.360454387 -0.029298976 -0.086448188 0.0815690747
Rp1,731,809,267,445 Rp1,293,187,615,501 1.490140909 -0.249752814 -0.253273649 0.3290381487

Rp149,299,002,847 Rp256,265,945,222 1.661078143 -0.543955597 0.716461198 0.6111945813

Rp9,314,678,257,934 Rp10,296,326,312,210 0.60355525 0.756399072 0.105387221 0.4884471809
Rp0 Rp5,938,816,642 -1
Rp45,615,970,187 Rp29,194,714,912 2.211198074 0.038075538 -0.359989171 0.6297614806
Rp69,978,503,322 Rp192,286,106,915 1.101498146 -0.866386705 1.747788218 0.6609665531
Rp39,745,869,788 Rp142,952,600,594 0.162543794 0.247649704 2.596665549 1.0022863492
Rp85,148,177,232 Rp92,771,873,989 0.178442075 10.41946125 0.089534468 3.5624792646
Rp0 Rp43,967,401,593
Rp9,704,465,781,310 Rp11,059,703,772,077 0.669080163 0.555787676 0.139650963 0.4548396007

Rp11,436,275,048,755 Rp12,352,891,387,578 0.832262541 0.338206378 0.080149903 0.4168729408

235,000,000,000 0 -1 -1

948,265,325,074 1,055,756,237,041 1.802719621 0.813368723 0.113355312 0.9098145522

1,952,203,668 2,118,009,451 -0.610709599 0.030337684 0.084932625 -0.1651464297
8,068,617,691 19,714,844,325 -0.300235982 0.157655264 1.443398 0.4336057604
68,121,003,152 42,529,228,394 3.131481923 -0.163881556 -0.37568112 0.8639730826
34,212,754,408 47,601,665,661 0.344705141 -0.387203951 0.391342687 0.1162812927
151,945,407,304 150,586,358,845 0.260517239 -0.298660985 -0.008944321 -0.0156960224
8,670,528,405 14,671,386,529 -0.135336156 0.341071507 0.692098318 0.2992778896

60,908,437,400 0 1.059187497 -0.591280347 -1 -0.1773642836

241,007,514,670 28,353,425,000 8.184226419 -0.882354602 3.6509359086
293,151,533,364 398,274,674,684
2,051,303,325,136 1,759,605,829,930 1.075324194 0.921635157 -0.142201054 0.6182527657
 164,639,066,027 253,135,066,158 0.541801491 0.402774307 0.537515198 0.4940303318
25,150,416,079 31,512,512,669 0.417916089 0.281074125 0.252961882 0.3173173655

95,126,334,737 85,052,086,048

0 0 -0.625489947 -1
1,067,030,355,425 245,117,756,215 0.144730728 -0.317503176 -0.770280428 -0.3143509588
2,339,278,887,117 1,963,077,060,102
0 2,172,591,561,330
646,147,255,946 647,969,196,327 0.002246035 0.002241001 0.002819698 0.0024355781
4,337,372,315,331 5,398,455,238,849 0.053572109 0.809921065 0.24463727 0.3693768148

6,388,675,640,467 7,158,061,068,779 0.242013801 0.844348047 0.120429565 0.4022638042

3,423,392,002,900 3,423,392,002,900 0.3856981 0 0 0.1285660332

2,141,166,570,210 2,141,166,570,210 62.21626221 0 0 20.7387540695
-11,000,000,000 -11,000,000,000 -0.840446865 0 -0.4202234324
50,623,174,275 50,623,174,275 1.417142338 0 0.7085711692
2,514,674,254 0 8.708221404 -0.577375419 -1 2.3769486615
41,849,654,706 192,286,106,915 0.24195219 -0.844771041 3.594688015 0.9972897215
-611,615,214,441 -601,639,485,331 -0.161550928 -0.138639668 -0.016310466 -0.1055003541

5,036,930,861,904 5,194,830,318,799 1.710126097 -0.008878481 0.031348347 0.5775319877

11,425,606,502,371 12,352,891,387,578 0.832262541 0.336958007 0.081158482 0.4167930101

 Proforma
2011(%) 2011(Rp)

19.652615478 399,260,118,057
294.431131745 1,079,265,259,204
1.2742523584 103,581,562,149
23.9681445655 34,461,269,698
125.293862072 220,490,328,657
44.3734717968 392,340,515,256
8.1569074658 201,367,149,005
32.9038148678 1,718,695,674,398

61.1194581307 412,894,302,315
48.8447180869 15,325,537,872,720

62.9761480607 47,580,421,801
66.0966553059 319,380,792,204
100.228634925 286,232,040,759
356.247926459 423,269,751,412

45.4839600702 16,090,095,019,651

41.6872940795 17,502,477,547,644

-100 0

90.9814552232 2,016,298,625,111
-16.51464297 1,768,227,752
43.360576037 28,263,314,389
86.3973082562 79,273,336,949
11.628129265 53,136,848,876
-1.5696022425 148,222,751,980
29.9277889604 19,062,208,127

-17.736428364 0
365.093590856 131,869,962,463

61.825276575 2,847,487,000,913
49.4030331831 378,191,466,890
31.7317365519 41,511,980,170

-31.435095876 168,064,754,540

0.2435578052 649,547,375,880
36.9376814811 7,392,519,439,877

40.2263804227 10,037,489,945,193

12.8566033189 3,863,523,932,762
2073.87540695 46,546,293,491,671
-42.022343241 -6,377,542,244
70.8571169157 86,493,296,057
237.694866152 0
99.7289721474 384,051,064,924
-10.550035411 -538,166,306,582

57.7531987725 8,195,010,998,708

41.6793010125 17,501,490,172,753