PTIndofoodSuksesMakmurTbk.

Business

FoodProcessingCompany

CompanyStatus

PMDN

Underwriter

PTMerincorpSecuritiesIndonesia

Shareholders
2000
CABHoldingsLtd.
Public

2001
40.00% CABHoldingLtd.
60.00% NorbaxInc.
Public

2005
CABHoldingsLtd.
Public

2006
51.53% CABHoldingsLtd.
48.47% Public

2002
48.00% CABHoldingsLtd.
13.08% Public
38.92%

2007
51.53% CABHoldingsLtd.
48.47% Public

2003
48.00% CABHoldingsLtd.
52.00% Public

2008
51.53% CABHoldingsLtd.
48.47% Public

2004
51.89% CABHoldingsLtd.
48.11% Public

51.53%
48.47%

2009
51.53% CABHoldingsLimited,Seychelles
48.47% Public

50.05%
49.95%

Management & Number of Employees

Board of Commissioners

Board of Directors

Number of Employees

2000

President Commissioner
Vice President Commissioner
Commissioners

Manuel V. Pangilinan
Ibrahim Risjad
Anthony Salim, Thomas Y. Yasuda
Michael J.A. Healy, Darryl J. Kinneally

President Director
Directors

Eva Riyanti Hutapea

Edward A. Tortorici, Franciscus Welirang
Cesar M. de la Cruz, Iwan Arisanto
Sri Dewi Subijanto, Indra Josepha
Gaotama Setiawan, Djoko Wibowo
Aswan Tukiaty

38,762

2001

President Commissioner
Vice President Commissioner
Commissioners

Manuel V. Pangilinan
Ibrahim Risjad
Anthony Salim, Thomas Y. Yasuda, Michael J.A. Heal
Darryl J. Kinneally, Torstein Stephansen, Warren J. Keegan

President Director
Directors

Eva Riyanti Hutapea

Edward A. Tortorici, Franciscus Welirang, Cesar M. de la Cruz
Iwan Arisanto, Sri Dewi Subijanto, Indra Josepha, Gaotama Setiawan, Djoko
Wibowo, Aswan Tukiaty

40,923

2002

President Commissioner
Commissioners

Manuel V. Pangilinan
Ibrahim Risjad, Anthony Salim
Michael J.A. Healy, Torstein Stephansen
Warren J. Keegan, Wahjudi Prakasa
Joseph Hong Pong Ng, Felice Roberto Villa, Ronald A. Brown

President Director
Directors

Eva Riyanti Hutapea

Edward A. Tortorici, Franciscus Welirang
Cesar M. dela Cruz, Sri Dewi Subijanto
Indra Josepha, Gaotama Setiawan
Djoko Wibowo, Aswan Tukiaty

46,000

2003

President Commissioner
Commissioners

Manuel V. Pangilinan
Ibrahim Risjad, Anthony Salim
Michael J.A. Healy, Torstein Stephansen
Warren J. Keegan, Wahjudi Prakasa
Joseph Hong Pong Ng, Felice Roberto Villa, Ronald A. Brown

President Director
Directors

Eva Riyanti Hutapea

Edward A. Tortorici, Franciscus Welirang
Cesar M. dela Cruz, Sri Dewi Subijanto
Indra Josepha, Gaotama Setiawan
Djoko Wibowo, Aswan Tukiaty

43,679

2004

President Commissioner
Commissioners

Manuel V. Pangilinan
Benny Setiawan Santoso
Ibrahim Risjad, Torstein Stephansen
Edward A. Tortorici, Albert del Rosario
Robert C. Nicholson, Drs. Utomo Josodirdjo
Prof. Dr. Wahjudi Prakarsa
Juan B. Santos

President Director
Vice President Directors

Anthoni Salim
Cesar M. dela Cruz, Franciscus Welirang
Darmawan Sarsito (Kevin Sietho)
Aswan Tukiaty, Tjhie The Fie (Thomas Tjhie)
Taufik Wiraatmadja, Philip Suwardi Purnama
Djoko Wibowo, Maringan Purba Sibaran

46,318

Anthoni Salim
Cesar M. dela Cruz, Franciscus Welirang
Darmawan Sarsito (Kevin Sietho)
Aswan Tukiaty, Tjhie The Fie (Thomas Tjhie)
Taufik Wiraatmadja, Philip Suwardi Purnama
Djoko Wibowo, Maringan Purba Sibaran

48,622

Anthoni Salim
Cesar M. dela Cruz
Franciscus Welirang
Darmawan Sarsito (Kevin Sietho)
Aswan Tukiaty, Tjhie The Fie (Thomas Tjhie)
Taufik Wiraatmadja, Philip Suwardi Purnama
Maringan Purba Sibarani, Mulyawan Tjandr

45,940

Anthoni Salim
Cesar M. dela Cruz, Franciscus Welirang
Darmawan Sarsito (Kevin Sietho)
Aswan Tukiaty, Honggo Widjojo Kangmasto, Mulyawan Tjandra
Taufik Wiraatmadja, Tjhie The Fie (Thomas Tjhie)

49,049

Anthoni Salim
Cesar M. dela Cruz, Franciscus Welirang,
Darmawan Sarsito (Kevin Sietho)
Aswan Tukiaty, Tjhie The Fie (Thomas Tjhie)
Taufik Wiraatmadja, Peter Kradolfer

62,174

Anthoni Salim
Franciscus Welirang, Darmawan Sarsito (Kevin Sietho)
Tjhie The Fie (Thomas Tjhie), Taufik Wiraatmadja
Peter Kradolfer, Moloenoto (Paulus Moloenoto)
Axton Salim, Angky Camaro
Werianty Setiawan

64,513

2005

2006

2007

2008

2009

President Commissioner
Commissioners

President Commissioner
Commissioners

President Commissioner
Commissioners

President Commissioner
Commissioners

President Commissioner
Commissioners

Manuel V. Pangilinan
Benny Setiawan Santoso, Graham L. Pickles
Ibrahim Risjad, Torstein Stephansen
Edward A. Tortorici, Albert del Rosario
Robert C. Nicholson, Drs. Utomo Josodirdjo
Prof. Dr. Wahjudi Prakarsa

Manuel V. Pangilinan
Benny Setiawan Santoso
Ibrahim Risjad
Torstein Stephansen
Edward A. Tortorici
Albert del Rosario
Robert C. Nicholson
Drs. Utomo Josodirdjo
Prof. Dr. Wahjudi Prakarsa
Graham L. Pickles

Directors

President Director
Vice President Directors
Directors

President Director
Vice President Directors

Directors

Manuel V. Pangilinan
Benny Setiawan Santoso, Robert C. Nicholson
Ibrahim Risjad, Edward A. Tortorici
Drs. Utomo Josodirdjo, Prof. Dr. Wahjudi Prakarsa
Albert del Rosario, Torstein Stephansen
Graham L. Pickles

President Director
Vice President Directors

Manuel V. Pangilinan
Benny Setiawan Santoso, Torstein Stephansen
Edward A. Tortorici, Prof. Dr. Wahjudi Prakarsa
Albert del Rosario, Ibrahim Risjad, Graham L. Pickles
Robert C. Nicholson, Drs. Utomo Josodirdjo

President Director
Vice President Directors

Manuel V. Pangilinan
Benny Setiawan Santoso
Ibrahim Risjad, Torstein Stephansen
Edward A. Tortorici, Albert del Rosario
Robert C. Nicholson, Drs. Utomo Josodirdjo
Prof. Dr. Wahjudi Prakarsa, Graham L. Pickles

Directors

Directors

1998

1999

2000

Total Assets
Current Assets
of which
Cash on hand and in banks
Cash and cash equivalents
Time deposits
Trade receivables
Inventories
Short Term Investment
Advances
Non-current Assets
of which
Fixed Asset Net
Deffered Tax Assets-Net
Investments
Other Assets

11,086,191
4,636,634

10,637,680
4,536,885

12,554,630
5,270,993

2,074,532

1,775,873

1,428,038

Liabilities
Current Liabilities
of which
Bank loans
Bank borrowings
Short-term debts
Trade payables
Taxes payable
Accrued expenses
Current maturities of
long-term debt
Long-term Liabilities

Long-term Liabilities
Non-Current Assets
Minority Interests in Subsidiaries
Shareholders' Equity
Paid-up capital
Paid-up capital
in excess of par value
Additional paid-up capital
Retained earnings

(million rupiah)
2001

2002

2003

2004

2005

13,098,426
5,246,997

15,251,516
7,147,003

15,308,854
6,994,334

15,669,008
6,415,060

14,786,084
6,471,590

834,386

1,368,446

1,529,698

1,394,075
970,911

540,171
1,193,846

786,140
1,348,653

830,367
1,970,598

929,394
2,137,103

1,323,789
2,743,304

1,398,318
2,218,210

1,328,973
2,284,332

1,527,361
2,691,672

8,104,513

8,314,521

9,253,948

8,314,494

5,124,225

4,987,343

5,203,971

5,595,590

16,558
1,308,774

25,804
1,087,649

26,269
2,053,397

119,325
2,136,515

5,661,424
27,998
23,689
622,919

5,825,951
57,904
20,233
271,940

6,013,390
49,522
364,002
743,016

6,041,763
108,768
230,080
774,098

10,087,547
3,899,544

8,230,965
5,114,267

9,495,917
3,961,036

9,417,521
6,055,346

10,713,140
4,341,302

10,552,330
3,664,193

10,653,751
4,364,102

10,042,582
4,402,870

813,805

538,125

468,961

623,474

624,233

513,311

511,585

1,447,091

421,495

836,941

1,112,678

1,392,197

1,161,764

1,367,574

1,201,105

1,584,472

276,315

430,032

407,933

415,647

341,653

341,214

303,577

344,998

5,789,763

2,590,911

4,901,113

2,603,359

398,241

525,787

633,768

758,816

6,371,838
875,678

6,888,138
662,643

6,289,649
759,204

5,639,712
435,053

998,644
915,600

2,406,715
915,600

3,058,713
915,600

3,561,580
915,600

3,662,698
938,490

4,093,881
944,327

4,256,053
944,327

4,308,449
944,419

963,760

963,760

963,760

963,760

1,139,061

1,181,379

1,182,046

1,182,046

(880,717)

527,355

1,179,353

1,682,220

1,585,146

1,968,175

2,129,680

2,181,984

12,702,239
8,961,596
3,740,643
1,344,312
2,396,331
(1,277,384)
1,118,947
646,172

14,644,598
10,776,075
3,868,523
1,834,063
2,034,460
(758,120)
1,276,340
746,330

16,466,285
12,398,734
4,067,551
2,187,416
1,880,136
(462,052)
1,418,084
802,633

17,871,425
13,405,369
4,466,057
2,457,262
2,008,795
(977,660)
1,031,135
603,481

17,918,528
13,323,637
4,594,892
2,507,501
2,087,391
(1,235,010)
852,380
378,056

18,764,650
14,341,545
4,423,105
2,760,608
1,662,497
(1,236,736)
425,761
124,018

Net Sales
Cost of Good Sold
Gross Profit
Operating Expenses
Operating Profit
Other Income (Expenses)
Profit (Loss) before Taxes
Profit (Loss) after Taxes

8,834,356
5,780,358
3,053,998
974,544
2,079,454
(1,501,525)
577,929
457,666

11,548,599
7,866,872
3,681,727
1,396,690
2,285,037
(184,399)
2,100,637
1,395,399

Per Share Data (Rp)

Earnings (Loss) per Share
Equity per Share
Dividend per Share
Closing Price

250
545
4,050

762
1,314
8,750

71
334
18
775

82
389
25
625

86
390
28
600

64
434
28
800

40
451
18
800

13
456
5
910

16
7
-

11.48
6.66
-

10.98
2.32
25.51
2.32

7.67
1.61
30.67
4.00

7.02
1.54
32.74
4.67

12.52
1.85
43.81
3.50

19.98
1.78
44.96
2.25

69.30
1.99
38.08
0.55

1.19
10.10
0.91
0.35
0.24
0.05
4.84
0.80
4.13
45.83

0.89
3.42
0.77
0.32
0.20
0.12
5.83
1.09
13.12
57.98

1.33
3.10
0.76
0.29
0.19
0.05
4.55
1.01
5.15
21.13

0.87
2.64
0.72
0.26
0.14
0.05
5.04
1.12
5.70
20.96

1.65
2.92
0.70
0.25
0.11
0.05
4.52
1.08
5.26
21.91

1.91
2.58
0.69
0.25
0.11
0.03
6.04
1.17
3.94
14.74

1.47
2.50
0.68
0.26
0.12
0.02
5.83
1.14
2.41
8.88

1.47
2.33
0.68
0.24
0.09
0.01
5.33
1.27
0.84
2.88

1999
(4.05)
141.00
30.72
204.89

2000
18.02
27.09
9.99
(53.69)

2001
4.33
16.44
15.29
15.50

2002
16.44
2.84
12.44
7.54

2003
0.38
11.77
8.53
(24.81)

2004
2.35
3.96
0.26
(37.35)

2005
(5.63)
1.23
4.72
(67.20)

Financial Ratios
PER (x)
PBV (x)
Dividend Payout (%)
Dividend Yield (%)
Current Ratio (x)
Debt to Equity (x)
Leverage Ratio (x)
Gross Profit Margin (x)
Operating Profit Margin (x)
Net Profit Margin (x)
Inventory Turnover (x)
Total Assets Turnover (x)
ROI (%)
ROE (%)

1
2
3
4

Growth (%)
Indicators
Total Asset
Share Holder's Equity
Net Sales/Revenue
Net Provit

1998

SUMMARY OF FINANCIAL STATEMENT

PT. Indofood Sukses Makmur Tbk. (INDF)

2006

(millionrupiah)
2007

2008

TotalAssets
CurrentAssets
ofwhich
Cashandcashequivalents
Tradereceivables
Inventories
NonCurrentAssets
ofwhich
FixedAssetsNet
DefferedTaxAssetsNet
Investments
OtherAssets

16,267,483
7,474,205

29,706,895
11,809,129

39,594,264
14,598,422

1,796,689
1,448,172
2,980,805
8,793,278

4,538,051
2,136,401
4,172,388
17,897,766

4,271,208
2,260,082
6,061,219
24,995,842

6,463,898
115,092
23,103
777,770

8,166,816
167,299
20,219
900,761

9,586,545
229,515
164,864
1,673,000

Liabilities
CurrentLiabilities
ofwhich
Bankloans
Tradepayables
Accruedexpenses
NonCurrentLiabilities
MinorityInterestsinSubsidiaries

10,575,307
6,324,301

18,794,518
12,888,677

26,435,324
16,262,161

2,039,664
1,184,326
560,556
4,251,006
657,710

5,734,104
1,835,266
1,190,093
5,905,841
3,721,828

7,634,711
2,514,689
1,103,395
10,173,163
4,660,191

5,034,463
944,419

7,190,549
944,419

8,498,749
878,043

1,182,046
2,907,998

1,182,046
5,064,084

1,497,733
6,122,973

21,941,558
16,761,335
5,180,223
3,208,462
1,971,761
(750,555)
1,221,206
661,210

27,858,304
21,232,761
6,625,543
3,749,103
2,876,440
(835,031)
2,041,409
980,357

38,799,279
29,822,362
8,976,917
4,635,441
4,341,476
(1,741,653)
2,599,823
1,034,389

Shareholders'Equity
Paidupcapital
Paidupcapital
inexcessofparvalue
Retainedearnings
NetSales
CostofGoodsSold
GrossProfit
OperatingExpenses
OperatingProfit
OtherIncome(Expenses)
ProfitbeforeTaxes
ProfitafterTaxes
PerShareData(Rp)
EarningsperShare
EquityperShare
DividendperShare
ClosingPrice

70
533
35
1,350

104
761
n.a
2,575

118
968
n.a
930

FinancialRatios
PER(x)
PBV(x)
DividendPayout(%)
DividendYield(%)

19.28
2.53
49.99
2.59

24.81
3.38
n.a
n.a

7.89
0.96
n.a
n.a

CurrentRatio(x)
DebttoEquity(x)
LeverageRatio(x)
GrossProfitMargin(x)
OperatingProfitMargin(x)
NetProfitMargin(x)
InventoryTurnover(x)
TotalAssetsTurnover(x)
ROI(%)
ROE(%)

1.18
2.10
0.65
0.24
0.09
0.03
5.62
1.35
4.06
13.13

0.92
2.61
0.63
0.24
0.10
0.04
5.09
0.94
3.30
13.63

0.90
3.11
0.67
0.23
0.11
0.03
4.92
0.98
2.61
12.17

PER=12.60x;PBV=1.88x(June2009)
FinancialYear:December31
PublicAccountant:Purwantono,Sarwoko&Sandjaja