PTGudangGaramTbk.

Business

Cigarettes

CompanyStatus

PMDN

Underwriter

PT(Persero)Danareksa,PTMERINCORP

Shareholder
2000
PTSuryadutaInvestama
PTSuryamitraKusuma
TanSiokTjien
Cooperative
PTLaktaUtama
RachmanHalim
SigidSumargoW.
PTBhaktiSuryawangsa
PTSuryaniBumimandala
PTSuryasaptaPramesti
WurniatiW.
JuniSetiawatiW.
PTAgungGumelarInt.
SumartoW.
SusiloW.
BintoroTanjung
Public

2005
PTSuryadutaInvestama
PTSuryamitraKusuma
RachmanHalim
JuniSetiawanWonowidjono
SusiloWonowidjono
Public

2001
66.80% PTSuryadutaInvestama
5.32% PTSuryamitraKusuma
2.49% 235Cooperative
2.00% RachmanHalim
1.36% SigidSumargoW.
0.94% WurniatiW.
0.90% JuniSetiawatiW.
0.77% SumartoW.
0.72% SusiloW.
0.72% BintoroTanjung
0.62% Public
0.52%
0.45%
0.32%
0.28%
0.05%
15.74%

2006
66.80% PTSuryadutaInvestama
5.32% PTSuryamitraKusuma
0.94% RachmanHalim
0.52% JuniSetiawanWonowidjono
0.28% SumartoWonowidjojo
26.14% SusiloWonowidjono
Public

2002
66.80% PTSuryadutaInvestama
5.32% PTSuryamitraKusuma
2.00% RachmanHalim
0.94% JuniSetiawatiWonowidjojo
0.90% SusiloWonowidjojo
0.62% Public
0.52%
0.32%
0.29%
0.05%
22.24%

2007
66.80% PTSuryadutaInvestama
5.32% PTSuryamitraKusuma
0.94% RachmanHalim
0.52% JuniSetiawanWonowidjono
0.32% SumartoWonowidjojo
0.28% SusiloWonowidjono
25.82% Public

2003
66.80% PTSuryadutaInvestama
5.32% PTSuryamitraKusuma
0.94% RachmanHalim
0.52% JuniSetiawanWonowidjono
0.29% SusiloWonowidjono
26.13% Public

2008
66.80% PTSuryadutaInvestama
5.32% PTSuryamitraKusuma
0.94% RachmanHalim
0.52% JuniSetiawanWonowidjono
0.32% SumartoWonowidjojo
0.28% SusiloWonowidjono
25.82% Public

2004
66.80% PTSuryadutaInvestama
5.32% PTSuryamitraKusuma
0.94% RachmanHalim
0.52% JuniSetiawanWonowidjono
0.28% SusiloWonowidjono
26.14% Public

66.80%
5.32%
0.94%
0.52%
0.28%
26.14%

2009
66.80% PTSuryadutaInvestama
5.32% PTSuryamitraKusuma
0.94% JuniSetiawanWonowidjono
0.52% SusiloWonowidjono
0.32% Public
0.28%
25.82%

66.80%
6.26%
0.52%
0.28%
26.14%

Management & Number of Employees

Board of Commissioners

Board of Directors

Number of Employees

2000

President Commissioner
Commissioners

Bintoro Tandjung
H. Somala Wiria, Juni Setiawati Wonowidjojo
Wurniati Wonowidjojo, Sumarto Wonowidjojo,
Yudiono Muktiwidjojo

President Director
Vice President Directors
Directors

Rachman Halim
Susilo Wonowidjojo, Mintarya
Sigid Sumargo Wonowidjojo, H. Rinto Harno
Djajusman Surjowijono, Hadi Soetirto
Goenanto Tanoerahardjo, Johanes Soeyanto

40,415

2001

President Commissioner
Commissioners

Rachman Halim
Juni Setiawati Wonowidjojo,
Yudiono Muktiwidjojo

President Director
Vice President Directors
Directors

Djajusman Surjowijono
Susilo Wonowidjojo, Mintarya
Susilo Wonowidjojo
, Haji Rinto Harno,
Hadi Soetirto, Gabriel Tasman,
Heru Budiman
, Albertus Setiawan Tjahjadi,
Mintarjo Widya, Djohan Harjono

41,362

2002

President Commissioner
Commissioners

Rachman Halim
Juni Setiawati Wonowidjojo,
Yudiono Muktiwidjojo, Frank W. van Gelder

President Director
Vice President Directors
Directors

Djajusman Surjowijono
Susilo Wonowidjojo, Mintarya
Haji Rinto Harno,
Hadi Soetirto,
Gabriel Tasman,
Heru Budiman,
Albertus Setiawan Tjahjadi,
Mintarjo Widya,
Djohan Harijono

41,387

2003

President Commissioner
Commissioners

Rachman Halim
Juni Setiawati Wonowidjojo,
Yudiono Muktiwidjojo, Frank W. van Gelder

President Director
Vice President Directors
Directors

Djajusman Surjowijono
Susilo Wonowidjojo, Mintarya
Haji Rinto Harno
Hadi Soetirto
Gabriel Tasman
Heru Budiman
Albertus Setiawan Tjahjadi
Mintarjo Widya,
Djohan Harijono

41,039

2004

President Commissioner
Commissioners

Rachman Halim
Juni Setiawati Wonowidjojo,
Yudiono Muktiwidjojo
Frank Willem van Gelder

President Director
Vice President Directors

Djajusman Surjowijono
Susilo Wonowidjojo
Mintarya
Haji Rinto Harno
Hadi Soetirto
Gabriel Tasman
Heru Budiman
Djohan Harijono
Widijanto
Mintarjo Widya

40,292

Directors

Djajusman Surjowijono
Susilo Wonowidjojo,
Mintarya, Sumarto Wonowidjojo
Haji Rinto Harno, Edijanto,
Hidajat Mugi Santosa, Heru Budiman
Djohan Harijono, Widijanto, Mintarjo Widya

39,799

Djajusman Surjowijono
Susilo Wonowidjojo,
Mintarya, Sumarto Wonowidjojo
Haji Rinto Harno, Edijanto
Heru Budiman, Djohan Harijono
Widijanto, Mintarjo Widya

39,142

Djajusman Surjowijono
Susilo Wonowidjojo,
Mintarya, Sumarto Wonowidjojo
Haji Rinto Harno, Edijanto, Buntoro Turutan,
Heru Budiman, Djohan Harijono, Widijanto,
Fajar Sumeru, Herry Susianto

38,400

2005

2006

2007

President Commissioner
Commissioners

President Commissioner
Commissioners

President Commissioner
Commissioners

Rachman Halim
Juni Setiawati Wonowidjojo,
Yudiono Muktiwidjojo
Hadi Soetirto,
Frank Willem van Gelder

Rachman Halim
Juni Setiawati Wonowidjojo,
Yudiono Muktiwidjojo
Frank Willem van Gelder
Hadi Soetirto

Rachman Halim
Juni Setiawati Wonowidjojo,
Hadi Soetirto,
Yudiono Muktiwidjojo,
Frank Willem van Gelder

President Director
Vice President Directors
Directors

President Director
Vice President Directors
Directors

President Director
Vice President Directors
Directors

2008

President Commissioner
Commissioners

Rachman Halim
Juni Setiawati Wonowidjojo,
Hadi Soetirto,
Yudiono Muktiwidjojo,
Frank Willem van Gelder

President Director
Vice President Directors
Directors

Djajusman Surjowijono
Susilo Wonowidjojo
Edijanto, Buana Susilo, Heru Budiman, Buntoro Turutan,
Fajar Sumeru, Herry Susianto

37,574

2009

President Commissioner
Commissioners

Juni Setiawati Wonowidjojo

Yudiono Muktiwidjojo
Frank Willem van Gelder
Hadi Soetirto
Lucas Mulia Suhardja

President Director
Directors

Susilo Wonowidjojo
Edijanto, Buana Susilo
Heru Budiman, Buntoro Turutan
Fajar Sumeru, Herry Susianto

43,732

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

1998

1999

2000

6,532,916
5,101,774

8,076,916
6,666,280

10,843,195
9,130,444

557,328

1,080,734

201,875

(million rupiah)
2001

2002

2003

2004

2005

13,448,124
11,123,218

15,452,703
11,491,018

17,338,899
11,923,663

20,591,389
13,490,458

22,128,851
14,709,465

237,848

464,982

413,718

540,136
420,471

965,548
3,467,864

1,194,404
4,250,502

1,642,503
7,197,500

1,607,293
9,103,779

1,441,422
9,381,700

3,961,685

5,415,236

7,100,931

7,419,386

1,397,079

1,379,508

1,626,388

2,191,965

3,800,069

4,936,413

6,927,897

7,314,532

26,311
7,752

14,360
16,768

6,439
79,924

6,439
126,502

6,439
141,255

6,439
454,015

6,439
156,712

6,439
86,490

Liabilities
Current Liabilities
of which
Short-term debt
Bank borrowings
Trade payables
Taxes and excise payable
Accrued expenses
Current maturities of
long-term debt
Long-term Liabilities
of which
Bank borrowings
Non-current Liabilities
Minority Interests in Subsidiaries

2,518,319
2,402,020

2,283,367
2,143,787

4,732,087
4,562,345

5,249,932
5,058,526

5,742,994
5,527,058

6,368,018
6,057,693

8,394,061
8,006,773

9,001,696
8,488,549

Shareholders' Equity
Paid-up capital
Paid-up capital
in excess of par value
Revaluation of fixed Assets
Retained earnings

2,998,853

4,777,805

5,095,364

7,182,448

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

9,973,172
7,352,019
2,621,153
652,500
1,968,653
(409,500)
1,559,153
1,084,447

12,694,605
8,943,319
3,751,286
738,891
3,012,395
144,212
3,156,607
2,276,632

14,964,674
10,837,213
4,127,461
872,798
3,254,663
(72,268)
3,182,395
2,243,215

17,970,450
13,519,452
4,450,998
1,061,021
3,389,977
(404,885)
2,985,092
2,087,361

Per Share Data (Rp)

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

1,687,062
9,528,579

1,757,176
10,875,860

1,986,818
12,043,159

248,500

2,731,973

3,062,456

3,028,379

3,595,336

5,361,046

5,681,893

610,882
583,860
1,089,594

192,225
1,583,339

331,693
1,128,702

272,221
1,374,166

179,421
1,480,089

152,613
1,874,446

168,497
1,900,485

197,150
2,399,595

116,296

139,576

169,737

191,400

215,936
8

310,325
10

387,288
13,475

513,147
15,700

4,014,597
962,044

5,793,549
962,044

6,111,108
962,044

8,198,192
962,044

9,709,701
962,044

10,970,871
962,044

12,183,853
962,044

13,111,455
962,044

53,700

53,700

53,700

53,700

53,700

53,700

53,700

53,700

8,693,957

9,955,127

11,168,109

12,095,711

20,939,084
16,108,007
4,831,077
1,376,047
3,455,030
(448,318)
3,006,712
2,086,893

23,137,376
18,615,630
4,521,746
1,591,099
2,930,647
(301,230)
2,629,417
1,838,673

24,291,692
19,457,427
4,834,265
1,916,005
2,918,260
(347,980)
2,570,280
1,790,209

24,847,345
19,704,705
5,142,640
1,993,948
3,148,692
(438,228)
2,710,464
1,889,646

564
2,086
260
11,650

1,183
3,011
500
16,725

1,166
3,176
500
13,000

1,085
4,261
300
8,650

1,085
5,046
300
8,300

956
5,702
300
13,600

930
6,332
500
13,550

982
6,814
500
11,650

Financial Ratios
PER (x)
PBV (x)
Dividend Payout (%)
Dividend Yield (%)

21
6
46.13
2.23

14.14
5.55
42.26
2.99

11.15
4.09
42.89
3.85

7.97
2.03
27.65
3.47

7.65
1.64
27.66
3.61

14.23
2.39
31.39
2.21

14.56
2.14
53.74
3.69

11.86
1.71
50.91
4.29

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 (%)

2.12
0.63
0.39
0.26
0.20
0.11
2.12
1.53
16.60
27.01

3.11
0.39
0.28
0.30
0.24
0.18
2.10
1.57
28.19
39.30

2.00
0.77
0.44
0.28
0.22
0.15
1.51
1.38
20.69
36.71

2.20
0.64
0.39
0.25
0.19
0.12
1.49
1.34
15.52
25.46

2.08
0.59
0.37
0.23
0.17
0.10
1.72
1.36
13.51
21.49

1.97
0.58
0.37
0.20
0.13
0.08
1.95
1.33
10.60
16.76

1.68
0.69
0.41
0.20
0.12
0.07
1.79
1.18
8.69
14.69

1.73
0.69
0.41
0.21
0.13
0.08
1.64
1.12
8.54
14.41

1999
23.63
44.31
27.29
109.93

2000
34.25
5.48
17.88
(1.47)

2001
24.02
34.15
20.09
(6.95)

2002
14.91
18.44
16.52
(0.02)

2003
12.21
12.99
10.50
(11.89)

2004
18.76
11.06
4.99
(2.64)

2005
7.47
7.61
2.29
5.55

1
2
3
4

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

1998

SUMMARY OF FINANCIAL STATEMENT

PT. Gudang Garam Tbk. (GGRM)

2006

(millionrupiah)
2007

2008

21,733,034
14,815,847

23,779,951
17,124,562

24,072,959
17,008,576

439,140
2,477,121
11,649,091
6,917,187

486,586
2,637,318
13,502,038
6,655,389

1,134,826
2,087,440
13,528,987
7,064,383

6,841,100
6,439
59,899

6,410,978
6,439
236,119

6,608,094
9,811
444,490

8,558,428
7,855,005

9,640,418
8,775,317

8,553,688
7,670,532

4,921,567
165,244
2,506,670
703,423
17,373

4,419,076
223,701
3,941,173
865,101
19,737

4,331,923
175,185
2,921,955
883,156
5

Shareholders'Equity
Paidupcapital
Paidupcapital
inexcessofparvalue
Retainedearnings

13,157,233
962,044

14,119,796
962,044

15,519,266
962,044

53,700
12,141,489

53,700
13,104,052

53,700
14,503,522

NetSales
CostofGoodsSold
GrossProfit
OperatingExpenses
OperatingProfit
OtherIncome(Expenses)
ProfitbeforeTaxes
ProfitafterTaxes

26,339,297
21,622,622
4,716,675
2,526,343
2,190,332
(586,901)
1,603,431
1,007,822

27,389,365
23,074,633
4,314,732
1,786,055
2,528,677
(323,836)
2,204,841
1,443,585

30,251,643
25,095,136
5,156,507
1,990,872
3,165,635
(509,291)
2,656,344
1,880,492

PerShareData(Rp)
EarningsperShare
EquityperShare
DividendperShare
ClosingPrice

524
6,838
250
10,200

750
7,338
250
8,500

977
8,066
350
4,250

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

19.47
1.49
47.73
2.45

11.33
1.16
33.32
2.94

4.35
0.53
35.81
8.24

1.89
0.65
0.39
0.18
0.08
0.04
1.86
1.21
4.64
7.66

1.95
0.68
0.41
0.16
0.09
0.05
1.71
1.15
6.07
10.22

2.22
0.55
0.36
0.17
0.10
0.06
1.85
1.26
7.81
12.12

TotalAssets
CurrentAssets
ofwhich
Cashandcashequivalents
Tradereceivables
Inventories
NonCurrentAssets
ofwhich
FixedAssetsNet
Investments
OtherAssets
Liabilities
CurrentLiabilities
ofwhich
Shorttermdebt
Tradepayables
Taxesandexcisepayable
NonCurrentLiabilities
MinorityInterestsinSubsidiaries

CurrentRatio(x)
DebttoEquity(x)
LeverageRatio(x)
GrossProfitMargin(x)
OperatingProfitMargin(x)
NetProfitMargin(x)
InventoryTurnover(x)
TotalAssetsTurnover(x)
ROI(%)
ROE(%)
PER=10.18x;PBV=1.48x(June2009)
FinancialYear:December31
PublicAccountant:SiddhartaSiddharta&Widjaja