PT Nippon Indosari Corpindo Tbk.

Food and Beverages

Head Office Kawasan Industri MM2100 Summary of Financial Statement

Jl. Selayar Blok A9, Desa Mekar Wangi
Kec. Cikarang Barat, Bekasi 17520 (Million Rupiah)
Phone (021) 8998-3876, 8984-4953 2011 2012 2013
Fax (021) 8984-4955 Total Assets 759,137 1,204,945 1,822,689
Email: sri@sariroti.com Current Assets 190,231 219,818 363,881
Website: www.sariroti.com of which
Business Manufacture, Sale and Distribution of Bread Cash and cash equivalents 48,397 37,872 101,142
Company Status PMDN Trade receivables 103,388 136,203 182,689
Inventories 16,306 22,599 36,533
Financial Performance: The Company recorded a strong Non-Current Assets 568,906 985,127 1,458,808
performance with Net Sales increasing 26.43% to IDR 1.505 of which
billion from the previous year. This achievement was attrib- Fixed Assets-Net 546,099 893,898 1,175,251
Deffered Tax Assets-Net n.a n.a n.a
uted to the robust demand of Sari Rotis product. As result,
Investments n.a n.a n.a
net income increase by 5.94% to IDR 158.015 billion from the Other Assets 11,008 76,635 261,451
revious year.
Brief History: PT Nippon Indosari Corpindo Tbk was Liabilities 212,696 538,337 1,035,351
founded in 1995 and has been a part of peoples lives in Indo- Current Liabilities 148,209 195,456 320,197
of which
nesia providing high quality breads as a vital source of nutrition
Bank loans n.a 6,073 n.a
and energy for breakfast and wholesome variety bread prod- Trade payables 65,553 79,033 159,315
ucts for the past 19 years. Taxes payable 6,454 6,775 5,303
As the dominant bread manufacturer in Indonesia whose Current maturities of
products are made using top Japanese baking methods, its Sari long-term debt n.a n.a n.a
Non-Current Liabilities 64,487 342,882 715,154
Roti name has become a well-known brand Indonesian consum-
ers have come to trust. Shareholders' Equity 546,441 666,608 787,338
Our consistent performance and the quality of our earn- Paid-up capital 101,236 101,236 101,236
ings has enabled us to be included as a member of the MSCI Paid-up capital
in excess of par value 173,001 173,001 173,001
small cap index since 2012, just two years after our shares were
Retained earnings 272,204 392,370 513,100
listed on the Indonesia Stock Exchange in June 2010.
PT Nippon Indosari Corpindo Tbk. laid a strong founda- Net Sales 813,342 1,190,826 1,505,520
tion in 2013 by building two new double capacity plants in Pur- Cost of Goods Sold 433,938 634,413 806,918
wakarta and Cikande. The Company enhanced its distribution Gross Profit 379,404 556,413 698,602
Operating Expenses 226,177 357,010 466,211
system using state of the art technology. The Company also Operating Profit 153,227 199,403 232,391
optimized its collaboration with Pasco Shikishima Corporation Other Income (Expenses) 1,721 390 (21,586)
(previously named Shikishima Baking Co., Ltd.) in new product Profit (Loss) before Taxes 154,948 199,793 210,805
development, product quality and human resource develop- Comprehensive Profit (Loss) 115,933 149,150 158,015

ment.
Per Share Data (Rp)
Earnings per Share 115 147 156
Equity per Share 540 658 778
Dividend per Share 28.63 37 3
Closing Price 3,325 6,900 1,020

Financial Ratios
PER (x) 29.03 46.83 6.53
PBV (x) 6.16 10.48 1.31
Dividend Payout (%) n.a 25.00 2.00
Dividend Yield (%) n.a 0.53 0.31

Current Ratio (x) 1.28 1.12 1.14

Debt to Equity (x) 0.39 0.81 1.32
Leverage Ratio (x) 0.28 0.45 0.57
Gross Profit Margin (x) 0.47 0.47 0.46
Operating Profit Margin (x) 0.19 0.17 0.15
Net Profit Margin (x) 0.14 0.13 0.10
Inventory Turnover (x) 26.61 28.07 22.09
Shareholders
Total Assets Turnover (x) 1.07 0.99 0.83
PT Indoritel Makmur Internasional Tbk 31.50% ROI (%) 15.27 12.38 8.67
Bonlight Investments Limited (BIL) 26.50% ROE (%) 21.22 22.37 20.07
Pasco Shikishima Corporation (Pasco) 8.50%
PER = 28,77x ; PBV = 6,62x (June 2014)
Sojitz Corporation. Japan (Sojitz) 4.25% Financial Year: December 31
Public 29.25% Public Accountant: Purwantono, Suherman & Surja

178 Indonesian Capital Market Directory 2014

PT Nippon Indosari Corpindo Tbk. Food and Beverages

Board of Commissioners Board of Directors

President Commissioner Benny Setiawan Santoso President Director Wendy Sui Cheng Yap
Commissioners Tan Hang Huat, Seah Kheng Hong Conrad Directors Indrayana, Kaneyoshi Morita, Takao Okabe,
Yenni Husodo, Chin Yuen Loke

Number of Employees 1,396

No Type of Listing Listing Date Trading Date Number of Shares Total Listed
per Listing Shares

1 First Issue 28-Jun-10 28-Jun-10 151,854,000 151,854,000

2 Company Listing 28-Jun-10 28-Jun-10 860,506,000 1,012,360,000
3 Stock Split 29-Nov-13 29-Nov-13 4,049,440,000 5,061,800,000

Underwriter
PT OSK Nusadana Securities Indonesia

Stock Price, Frequency, Trading Days, Number and Value of Shares Traded and Market Capitalization
Stock Price Shares Traded Trading Listed Market
Month High Low Close Volume Value Frequency Day Shares Capitalization
(Rp) (Rp) (Rp) (Thousand Shares) (Rp Million) (Rp Million)
January-13 7,150 5,900 6,250 34,186.00 215,085.00 5,151 21 1,012,360,000 6,327,250.00
February-13 6,350 5,700 6,200 22,449.00 134,877.00 4,357 20 1,012,360,000 6,276,632.00
March-13 7,450 6,100 7,200 13,312.00 91,294.00 3,806 19 1,012,360,000 7,288,992.00
April-13 8,000 7,000 7,700 4,699.00 35,097.00 2,128 22 1,012,360,000 7,795,172.00
May-13 9,300 7,700 8,700 6,562.00 56,399.00 3,584 22 1,012,360,000 8,807,532.00
June-13 8,600 7,200 7,850 378,177.00 2,553,708.00 2,448 19 1,012,360,000 7,947,026.00
July-13 8,600 7,200 7,250 9,534.00 74,506.00 2,637 23 1,012,360,000 7,339,610.00
August-13 8,600 5,750 6,600 15,841.00 116,548.00 2,716 17 1,012,360,000 6,681,576.00
September-13 6,800 5,750 6,400 25,328.00 155,431.00 6,851 21 1,012,360,000 6,479,104.00
October-13 6,600 6,000 6,200 34,644.00 218,426.00 5,637 21 1,012,360,000 6,276,632.00
November-13 6,150 930 1,020 43,342.00 154,546.00 6,729 20 5,061,800,000 5,163,036.00
December-13 1,170 990 1,020 78,814.00 86,044.00 7,658 19 5,061,800,000 5,163,036.00
January-14 1,110 980 1,055 27,427.00 28,723.00 5,877 20 5,061,800,000 5,340,199.00
February-14 1,220 1,000 1,150 121,851.00 140,391.00 12,233 20 5,061,800,000 5,821,070.00
March-14 1,225 1,030 1,105 70,571.00 79,342.00 11,142 20 5,061,800,000 5,593,289.00
April-14 1,180 1,035 1,090 69,778.00 77,591.00 10,335 20 5,061,800,000 5,517,362.00
May-14 1,270 1,070 1,270 74,228.00 87,038.00 8,417 18 5,061,800,000 6,428,486.00
June-14 1,455 1,210 1,430 88,794.00 118,926.00 9,055 21 5,061,800,000 7,238,374.00

Stock Price and Traded Chart

Stock Price (Rp) Thousand Shares
10,000 20,000

9,000 18,000

8,000 16,000

7,000 14,000

6,000 12,000

5,000 10,000

4,000 8,000

3,000 6,000

2,000 4,000

1,000 2,000

- -
Jan-13 Mar-13 May-13 Jul-13 Sep-13 Nov-13 Jan-14 Mar-14 May-14

Institute for Economic and Financial Research 179