Ades Waters Indonesia Tbk ADES

Company Report : July 2007 As of 31 July 2007

Development Board Individual Index : 41.558
Industry Sector : Consumer Goods Industry (5) Listed Shares : 149,720,000
Industry Sub-Sector : Food And Beverages (51) Market Capitalization : 119,776,000,000

Company History Dividend Announcement

Established Date : 06-March-1985 Bonus Cash Cum Ex Recording Payment
F/I
Listing Date : 13-June-1994 Year Shares Dividend Date Date Date Date
Under Writer IPO : 1994 40.00 27-Jun-95 28-Jun-95 06-Jul-95 02-Aug-95 F
PT Pentasena Arthasentosa 1995 20.00 04-Jul-96 05-Jul-96 15-Jul-96 14-Aug-96 F
Securities Administration Bureau : 1997 1:1 27-Jun-97 30-Jun-97 08-Jul-97 06-Aug-97
PT Raya Saham Registra 1996 20.00 27-Jun-97 30-Jun-97 08-Jul-97 06-Aug-97 F
Plaza Central Building 2nd Fl. 2000 10.00 25-Jun-01 26-Jun-01 29-Jun-01 13-Jul-01 F
Jl. Jend. Sudirman Kav. 47-48 Jakarta 2002 2.00 27-Jun-03 30-Jun-03 02-Jul-03 16-Jul-03 F
Phone : 252-5666
Fax : 252-5028 Issued History
Listing Trading
Shareholders (July 2007) Type of Listing Shares Date Date
1. Water Partners Bottling S.A 102,205,149 68.26% 1. First Issue 15,000,000 13-Jun-94 13-Jun-94
2. UBS AG Singapore - UBS Equities 209114 24,302,815 16.23% 2. Company Listing 23,000,000 13-Jun-94 02-Jan-95
3. Bonus Shares 38,000,000 07-Aug-97 07-Aug-97
Board of Commissioners 4. Right Issue 73,720,000 11-Jun-04 11-Jun-04
1. Samip Shah
2. Alfi Gunawan
3. Emil Salim *)
*) Independent Commissioners

Board of Directors
1. Etienne A. Benet
2. Bjorn E. Jensen
3. Amrit K. Shrestha
4. Daniel Muller
5. Natali Ngadani
6. Patrick Lemoine

Audit Committee
1. Emil Salim
2. Jusuf Halim
3. Wagiyono

Corporate Secretary
Thomas Maria Wisnu Adjie

Head Office:
Perkantoran Hijau Arkadia Tower C 15th - 16th Fl.
Jl. Letjen. TB. Simatupang Kav. 88, Jakarta 12520
Phone : (021) 2754-5000
Fax : (021) 7884-5549

Homepage : -
Email : -

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Ades Waters Indonesia Tbk ADES
Trading Activities
Composite Composite Index and Consumer Goods Index Sectoral
January 2000 - July 2007 Stock Price Volume Value
Index Index
Month High Low Close Freq. (Thou.) (Rp Mill.) Day
2,700 480
Jan03 675 575 575 16 101 60 22
Composite Stock Price Index Feb03 600 550 550 15 65 37 19
2,250 400
Consumer Goods Index Mar03 625 500 550 37 1,078 591 20
1,800 320 Apr03 700 575 675 161 601 393 20
May03 1,025 700 975 185 940 836 19
1,350 240 Jun03 975 750 800 52 360 333 21
Jul03 850 750 750 48 170 136 23
900 160 Aug03 1,275 775 1,275 257 2,202 2,268 20
Sep03 1,300 1,000 1,000 56 452 505 21
450 80
Oct03 1,200 1,000 1,050 149 967 1,073 23
Nov03 1,175 1,000 1,000 22 392 434 15
- -
Jan-00 Jan-01 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07
Dec03 1,075 1,000 1,025 128 839 852 19
Jan00 - - - - - - -
Jan04 1,225 975 1,075 174 1,202 1,341 20
Feb04 1,200 1,025 1,100 231 12,389 14,778 18
Closing Closing Price and Trading Volume Volume
Mar04 1,250 925 925 1,127 11,149 12,320 22
Price*) January 2000 - July 2007 (Mill. Shares)
Apr04 1,050 950 975 228 6,006 6,357 20
3,600 30
May04 950 850 925 67 378 343 19
3,000 25
Jun04 975 875 950 114 722 682 21
Jul04 1,800 875 1,800 2,736 39,945 60,882 21
2,400 20 Aug04 3,000 1,825 3,000 4,168 42,423 109,507 21
Sep04 - - 3,000 59 854 2,393 20
1,800 15 Oct04 - - 3,000 57 811 2,138 21
Nov04 3,650 2,300 2,300 2,456 17,102 52,254 17
1,200 10 Dec04 2,675 2,175 2,275 994 3,687 9,172 21
Jan00 - - - - - - -
600 5
Jan05 2,500 2,250 2,275 616 4,414 10,451 20
Feb05 2,450 2,125 2,325 609 4,298 10,060 18
- -
Mar05 2,375 1,800 1,950 272 1,389 2,927 21
Jan-00 Jan-01 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07
Apr05 1,950 1,450 1,450 122 5,863 9,118 20
May05 1,500 1,430 1,500 80 5,253 6,619 20
Jun05 1,500 1,370 1,390 42 137 195 22
Closing Closing Price and Consumer Goods Index Sectoral
Jul05 1,400 1,050 1,180 136 468 556 21
Price*) January 2000 - July 2007 Index
Aug05 2,350 1,200 1,500 1,444 4,688 8,850 22
3,600 480
Closing Price Sep05 1,610 1,410 1,500 140 398 606 21
3,000
Consumer Goods Index
400
Oct05 1,950 1,420 1,840 689 1,455 2,660 21
Nov05 1,870 1,560 1,800 152 2,137 3,537 17
2,400 320 Dec05 1,830 1,660 1,660 129 498 926 20
Jan00 - - - - - - -
1,800 240 Jan06 1,730 1,580 1,600 116 326 531 20
Feb06 1,650 1,400 1,410 82 376 581 20
1,200 160 Mar06 1,480 1,350 1,400 36 95 133 21
Apr06 1,900 1,400 1,540 486 1,796 2,879 18
600 80 May06 1,640 1,300 1,300 374 1,684 2,476 21
Jun06 1,300 1,200 1,200 25 751 965 22
- -
Jul06 1,300 1,140 1,260 61 182 219 21
Jan-00 Jan-01 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07
Aug06 1,240 1,140 1,150 44 145 170 20
Sep06 1,250 1,100 1,230 47 107 124 21
Shares Traded 2003 2004 2005 2006 Jul 07 Oct06 1,210 1,120 1,130 14 60 70 17
Volume (Thou.) 8,164 136,665 30,996 6,096 5,508 Nov06 1,250 1,050 1,140 148 324 376 22
Value (Million) 7,520 272,167 56,505 8,766 5,252 Dec06 1,200 1,050 1,110 68 253 243 19
Frequency (X) 1,126 12,411 4,431 1,501 849 Jan00 - - - - - - -
Days 161 200 204 164 96 Jan07 1,150 950 960 94 387 405 22
Feb07 1,100 950 1,000 115 375 375 20
Price (Rupiah) Mar07 1,000 910 930 100 764 732 21
High 1,300 3,650 2,500 1,900 1,150 Apr07 1,100 900 960 173 1,962 1,930 20
Low 500 850 1,050 1,050 800 May07 950 900 900 94 762 708 21
Close 1,025 2,275 1,660 1,110 800 Jun07 900 810 890 192 586 516 20
Close * 1,025 2,275 1,660 1,110 800 Jul07 920 800 800 81 674 586 22
Aug07 - - - - - - -
PER (X) 22.14 -2.30 -2.08 -1.29 -1.36 Sep07 - - - - - - -
PER Industry (X) 11.16 6.01 16.55 16.98 11.20 Oct07 - - - - - - -
PBV (X) 0.86 19.49 -2.83 -0.77 -0.46 Nov07 - - - - - - -
Dec07 - - - - - - -
*) Adjusted price after corporate action

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Ades Waters Indonesia Tbk ADES
Financial Data and Ratios
Public Accountant : Siddharta, Siddharta & Widjaja Book End : December

BALANCE SHEET Dec-02 Dec-03 Dec-04 Dec-05 Dec-06 Jun-07

Assets and Liabilities
(Million Rp except Par Value) (Trillion Rp)
Cash & Cash Equivalents 7,821 4,219 2,061 1,670 490 353 0.50
Accounts Receivable 16,091 14,708 11,497 22,341 21,017 17,613 Assets Liabilities
0.40

Inventories 9,193 9,981 7,775 21,837 11,602 11,174

Current Assets 34,043 29,622 25,616 60,794 50,039 44,048 0.30

Fixed Assets 171,115 160,621 75,701 147,330 180,112 164,854

0.20
Other Assets 0 0 0 0 0 0
Total Assets 206,917 192,043 102,977 210,052 233,253 211,753
0.10
Growth (%) -7.19% -46.38% 103.98% 11.05% -9.22%
-
Current Liabilities 67,133 80,981 60,682 278,891 427,199 450,532 2002 2003 2004 2005 2006 Jun-07
Long Term Liabilities 52,906 20,817 24,818 19,062 22,749 22,030
Total Liabilities 120,038 101,798 85,500 297,953 449,948 472,562
Growth (%) -15.20% -16.01% 248.48% 51.01% 5.03% Total Equity
(Trillion Rp)

0.087 0.090
Minority Interest 1 1 1 0 0 0 0.09

Authorized Capital 150,000 150,000 150,000 590,000 590,000 590,000

0.017
Paid up Capital 76,000 76,000 149,720 149,720 149,720 149,720 0.02

Paid up Capital (Shares) 76 76 150 150 150 150 2002 2003 2004 2005 2006 Jun-07
Par Value 1,000 1,000 1,000 1,000 1,000 1,000
(0.05)

Retained Earnings 6,127 9,494 -138,837 -244,214 -373,008 -417,122

(0.12) (0.088)
Total Equity 86,877 90,244 17,476 -87,901 -216,695 -260,809
Growth (%) 3.88% -80.63% N/A -146.52% -20.36% (0.19)

(0.217)
INCOME STATEMENTS (Million Rp) (0.26)

(0.261)
Total Revenues 148,456 168,936 125,554 143,751 135,043 65,639
Growth (%) 13.80% -25.68% 14.49% -6.06%
Total Revenues
Expenses 96,154 106,899 106,580 120,220 126,676 57,175 (Trillion Rp)
Gross Profit 52,302 62,037 18,974 23,531 8,367 8,464 0.169
Operating Expenses 60,936 82,037 88,831 139,317 135,881 48,630
0.17

0.148 0.144
Operating Profit -8,634 -20,000 -69,857 -115,786 -127,514 -40,166 0.14 0.126
0.135

Growth (%) -131.64% -249.29% -65.75% -10.13%

0.10

Other Income (Expenses) 19,555 4,716 -78,475 -1,835 -1,608 -3,948 0.066
Income before Tax 10,921 -15,283 -148,332 -117,621 -129,122 -44,114 0.07

Tax 3,529 1,908 0 1,636 -328 0

0 0 1 1 0 0
0.03

Minority Interest
Net Income 7,392 3,519 -148,331 -119,256 -128,794 -44,114 -

Growth (%) -52.39% N/A 19.60% -8.00% 2002 2003 2004 2005 2006 Jun-07

RATIOS
Current Ratio (%) 50.71 36.58 42.21 21.80 11.71 9.78 Total Income
(Billion Rp)
Dividend (Rp) 2.00 - - - - -
7
EPS (Rp) 97.26 46.30 (990.72) (796.53) (860.23) (294.64) 7.39
4

BV (Rp) 1,143.12 1,187.42 116.72 (587.10) (1,447.34) (1,741.98)

2002 2003 2004 2005 2006 Jun-07
DAR (X) 0.58 0.53 0.83 1.42 1.93 2.23 (23.75)

DER(X) 1.38 1.13 4.89 (3.39) (2.08) (1.81)

ROA (%) 5.28 (7.96) (144.04) (56.00) (55.36) (20.83) (54.90)
(44)

ROE (%) 12.57 (16.94) (848.78) 133.81 59.59 16.91

35.23 36.72 15.11 16.37 6.20 12.89
(86.04)

GPM (%)
OPM (%) (5.82) (11.84) (55.64) (80.55) (94.42) (61.19) (117.19)

NPM (%) 4.98 2.08 (118.14) (82.96) (95.37) (67.21) (119)

Payout Ratio (%) 2.06 - - - - - (148.33)
(129)
(148)
Yield (%) 0.28 - - - - -

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The facts and opinions stated or expressed in this publication are for information purposes only and are not necessarily and must not be relied upon as being those of the publisher or of the
institutions for which the contributing authors work. Although every care has been taken to ensure the accuracy of the information contained within the publication it should not be by any person
relied upon as the basis for taking any action or making any decision. The Jakarta Stock Exchange cannot be held liable or otherwise responsible in anyway for any advice action taken or
decision made on the basis of the facts and opinions stated or expressed or stated within this publication.
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