COMPANY REPORT

ADHI
ADHI KARYA (PERSERO) TBK.

Company Profile

ThenameAdhiKaryamentionedforthefirsttimeintheDecreeoftheMinisterofPublic
WorksandLabordated11thofMarch1960.In1974,basedonActNo.1datedJune1st,
1974junctoAmendmentActNo.2datedDecember3rd,1974bothbyKartiniMuljadi,
S.H.,NotaryinJakarta,PTAdhiKarya(Persero)(theCompany)wasestablished.

TheCompanysscopeofbusinesscomprisesof:
1. Construction,
2. Management consultation and Industrial engineering (Engineering
ProcurementandConstruction/EPC),
3. Property,Hotel,andRealEstate,
4. Investment, General trading, procurement services, manufacturing (Precast),
servicesininformationtechnology,realestateandagroindustry.


CurrentlytheCompanysmainactivitiesareinconstruction,EPC,property,realestate,
InfrastructureInvestmentandprocurementservices

TheCompanyhasownershipinsubsidiaries:PTAdhiPersadaProperti,PTAdhiPersada
RealtiandAdhiMultipower,Pte.,Ltd.

AsofDecember31st,2013,theCompanyhad1,325permanentemployees.

January 2014

Disclaimer:
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 Indonesia 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.
 ADHI Adhi Karya (Persero) Tbk. [S]
COMPANY REPORT : JANUARY 2014 As of 30 January 2014
Main Board Individual Index : 1,186.667
Industry Sector : Property, Real Estate And Building Construction (6) Listed Shares : 1,801,320,000
Industry Sub Sector : Building Construction (62) Market Capitalization : 3,206,349,600,000
162 | 3.21T | 0.07% | 93.88%

49 | 6.05T | 0.55% | 74.44%

COMPANY HISTORY SHAREHOLDERS (January 2014)

Established Date : 11-Mar-1960 1. Negara Republik Indonesia 918,680,000 : 51.00%
Listing Date : 18-Mar-2004 2. Public (<5%) 882,640,000 : 49.00%
Under Writer IPO :
PT Ciptadana Sekuritas DIVIDEND ANNOUNCEMENT
Securities Administration Bureau : Bonus Cash Recording Payment
F/I
PT Datindo Entrycom Year Shares Dividend Cum Date Ex Date Date Date
Wisma Sudirman - Puri Datindo 2003 12.30 07-Jul-04 08-Jul-04 12-Jul-04 23-Jul-04 F
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 2005 19.56 17-Jun-05 20-Jun-05 22-Jun-05 06-Jul-05
Phone : (021) 570-9009 2005 12.98 20-Jul-06 21-Jul-06 25-Jul-06 08-Aug-06 F
Fax : (021) 570-9026 2006 10.61 17-Jul-07 18-Jul-07 20-Jul-07 03-Aug-07 F
2008 11.51 02-Jul-09 03-Jul-09 07-Jul-09 22-Jul-09 F
BOARD OF COMMISSIONERS 2009 28.26 30-Jun-10 01-Jul-10 05-Jul-10 19-Jul-10 F
1. Imam Santoso Ernawi 2010 32.35 04-Jul-11 05-Jul-11 07-Jul-11 20-Jul-11 F
2. Achmad Gani Ghazali Akman 2011 30.33 05-Jun-12 06-Jun-12 08-Jun-12 22-Jun-12 F
3. Bobby A.A. Nazief 2012 23.49 13-May-13 14-May-13 16-May-13 29-May-13 F
4. Muchlis R. Luddin *) 2013 67.61 07-Apr-14 08-Apr-14 10-Apr-14 25-Apr-14 F
5. Murhadi *)
6. Suroyo Alimoeso ISSUED HISTORY
*) Independent Commissioners Listing Trading
No. Type of Listing Shares Date Date
BOARD OF DIRECTORS 1. First Issue 397,188,000 18-Mar-04 18-Mar-04
1. Kiswodarmawan 2. Company Listing 918,680,000 18-Mar-04 18-Mar-04
2. Anis Anjayani 3. Employee Management Buy Out (EMBO) 441,320,000 18-Mar-04 03-Jul-06
3. BEP Adji Satmoko 4. Employee Stock Allocation (ESA) 44,132,000 18-Mar-04 26-Jun-04
4. Djoko Prabowo
5. Giri Sudaryono
6. Supardi

AUDIT COMMITTEE
1. Murhadi
2. Salim Siagian
3. Syaiful

CORPORATE SECRETARY
M. Aprindy

HEAD OFFICE
Jln. Raya Pasar Minggu Km.18
Jakarta - 12510
Phone : (021) 797-5312
Fax : (021) 797-5311

Homepage : www.adhi.co.id
Email : adhi@adhi.co.id
 ADHI Adhi Karya (Persero) Tbk. [S]
TRADING ACTIVITIES
Closing Price* and Trading Volume
Adhi Karya (Persero) Tbk. [S] Closing Price Freq. Volume Value

Day
Closing Volume
Price* January 2010 - January 2014 (Mill. Sh) Month High Low Close (X) (Thou. Sh.) (Million Rp)
4,000 240 Jan-10 425 390 405 4,651 91,954 37,614 20
Feb-10 405 370 390 1,403 34,699 13,313 19
3,500 210 Mar-10 450 380 440 5,352 128,895 54,921 22
Apr-10 640 435 590 15,799 643,765 363,176 21
May-10 590 410 490 5,174 149,934 73,525 19
3,000 180
Jun-10 640 455 620 7,698 235,268 134,928 22
Jul-10 670 560 650 9,178 327,722 199,206 22
2,500 150
Aug-10 690 570 660 5,671 202,433 131,258 21
Sep-10 1,020 640 960 12,718 326,527 273,447 17
2,000 120
Oct-10 1,090 950 1,000 7,814 174,830 177,657 21
Nov-10 1,000 870 890 3,533 49,095 45,811 21
1,500 90 Dec-10 1,010 770 910 32,541 429,282 395,801 20

1,000 60 Jan-11 930 760 790 4,882 113,072 95,505 21

Feb-11 850 750 830 3,295 75,255 60,185 18
500 30 Mar-11 850 760 840 6,687 98,898 80,322 23
Apr-11 900 820 820 14,093 172,522 148,957 20
May-11 830 740 780 5,278 95,026 75,050 21
Jun-11 800 740 800 3,127 53,179 40,725 20
Jan-10 Jan-11 Jan-12 Jan-13 Jan-14
Jul-11 820 700 710 6,361 100,864 75,362 21
Aug-11 720 510 580 6,573 119,233 70,518 19
Sep-11 610 450 510 4,259 60,629 33,605 20
Closing Price*, Jakarta Composite Index (IHSG) and Oct-11 580 455 530 6,873 84,676 45,079 21
Property, Real Estate and Bulding Construction Index Nov-11 520 445 460 13,367 134,909 65,650 22
January 2010 - January 2014 Dec-11 640 435 580 11,915 359,328 198,452 21
910%
Jan-12 720 570 690 8,235 193,549 126,624 21
780% Feb-12 750 680 710 4,743 129,177 92,626 21
Mar-12 800 700 800 4,622 107,316 79,249 21
650% Apr-12 1,040 750 990 11,373 306,721 280,632 20
May-12 1,140 940 970 7,410 202,611 210,502 21
520% Jun-12 1,010 860 990 3,027 59,294 56,177 21
Jul-12 1,050 860 910 4,409 84,526 79,675 22
Aug-12 960 830 900 4,771 85,274 76,887 19
390%
Sep-12 1,090 870 1,040 5,588 119,462 116,886 20
334.1%
Oct-12 1,440 1,000 1,410 12,885 284,217 345,507 22
260%
Nov-12 1,910 1,360 1,890 13,164 272,742 431,698 20
Dec-12 2,100 1,630 1,760 24,655 363,628 674,866 18
130% 149.6%

71.6% Jan-13 2,150 1,730 2,000 25,820 386,992 740,424 21

- Feb-13 2,650 1,990 2,575 17,280 317,854 723,135 20
Mar-13 3,175 2,400 3,100 17,226 224,360 635,962 19
-130% Apr-13 3,175 2,700 2,975 19,520 242,917 711,019 22
Jan 10 Jan 11 Jan 12 Jan 13 Jan 14 May-13 3,925 2,950 3,900 22,507 284,753 931,777 22
Jun-13 4,000 3,100 3,325 27,380 298,365 1,054,227 19
Jul-13 3,375 2,400 3,075 26,992 292,062 856,830 23
SHARES TRADED 2010 2011 2012 2013 Jan-14 Aug-13 3,200 1,690 1,980 22,891 227,303 516,385 17
Volume (Million Sh.) 2,794 1,468 2,209 5,112 524 Sep-13 2,275 1,510 2,025 71,392 1,395,702 2,639,571 21
Value (Billion Rp) 1,901 989 2,571 11,472 885 Oct-13 2,150 1,830 1,950 44,551 759,652 1,504,721 21
Frequency (Thou. X) 112 87 105 341 35 Nov-13 1,970 1,570 1,600 22,975 298,528 524,666 20
Days 245 247 246 244 20 Dec-13 1,780 1,460 1,510 22,832 383,774 633,407 19

Price (Rupiah) Jan-14 1,850 1,425 1,780 34,825 523,862 885,065 20

High 1,090 930 2,100 4,000 1,850
Low 370 435 570 1,460 1,425
Close 910 580 1,760 1,510 1,780
Close* 910 580 1,760 1,510 1,780

PER (X) 8.65 5.72 14.84 11.35 13.38

PER Industry (X) 9.97 11.09 17.34 17.79 16.27
PBV (X) 1.90 1.05 2.68 2.06 2.43
* Adjusted price after corporate action
 ADHI Adhi Karya (Persero) Tbk. [S]
Financial Data and Ratios Book End : December
Public Accountant : Aryanto, Amir Jusuf, Mawar & Saptoto (Member of RSM International)

BALANCE SHEET Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 TOTAL ASSETS AND LIABILITIES (Bill. Rp)
(Million Rp except Par Value) Assets Liabilities
Cash & Cash Equivalents 306,902 242,118 552,203 948,846 1,939,960 10,000

Receivables 1,789,279 1,657,387 1,657,080 2,332,098 2,705,085

510,174 61,766 68,562 116,552 161,560 8,000
Inventories
Investment 180,132 46,234 197,644 62,804 60,034
6,000
Fixed Assets 80,870 186,401 220,861 187,437 271,257
Other Assets 1,951 8,387 18,154 34,248 65,081
4,000
Total Assets 5,629,454 4,927,696 6,112,954 7,872,074 9,720,962
Growth (%) -12.47% 24.05% 28.78% 23.49% 2,000

Bank Payable - 192,017 200,920 211,800 -

Trade Payable 2,849,719 2,214,234 3,132,496 4,276,690 4,767,420 2009 2010 2011 2012 2013
Total Liabilities 4,888,581 4,059,941 5,122,586 6,691,155 8,172,499
Growth (%) -16.95% 26.17% 30.62% 22.14%
TOTAL EQUITY (Bill. Rp)
Authorized Capital 544,000 544,000 544,000 544,000 544,000 1,548
Paid up Capital 180,132 180,132 180,132 180,132 180,132 1,548

Paid up Capital (Shares) 1,801 1,801 1,801 1,801 1,801 1,181

Par Value 100 100 100 100 100
1,233

990
Retained Earnings 528,868 668,355 790,784 943,642 1,307,301 861
917

Total Equity 731,200 861,113 990,368 1,180,919 1,548,463 731

Growth (%) 17.77% 15.01% 19.24% 31.12% 601

INCOME STATEMENTS Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 285

Total Revenues 7,714,614 5,674,980 6,695,112 7,627,703 9,799,598

Growth (%) -26.44% 17.98% 13.93% 28.47%
-31

2009 2010 2011 2012 2013

Cost of Revenues 7,059,135 4,964,348 5,960,704 6,671,815 8,606,444

Gross Profit 751,880 769,110 799,042 1,043,220 1,247,711
TOTAL REVENUES (Bill. Rp)
Operating Expenses 215,061 218,276 385,498 531,378 425,009
Operating Profit 536,819 550,834 413,544 - - 9,800
9,800

Growth (%) 2.61% -24.92%

7,715 7,628
7,800

6,695
Other Income (Expenses) -205,046 -230,014 -87,164 -88,526 -108,337
5,675
Income before Tax 331,773 320,820 326,380 423,315 714,365 5,801

Tax 168,850 130,627 143,687 209,998 305,927

Profit for the period 162,924 190,194 182,693 213,318 408,438
3,802

Growth (%) 16.74% -3.94% 16.76% 91.47%

1,803

Period Attributable 162,924 189,484 182,116 211,590 405,977 -196

Comprehensive Income 165,530 181,525 182,727 213,651 409,862 2009 2010 2011 2012 2013
Comprehensive Attributable - 180,815 182,150 211,924 407,401

RATIOS Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 PROFIT FOR THE PERIOD (Bill. Rp)
Dividend (Rp) 28.26 32.35 30.33 23.49 67.61
408
EPS (Rp) 90.45 105.19 101.10 117.46 225.38 408

BV (Rp) 405.92 478.05 549.80 655.59 859.63

DAR (X) 0.87 0.82 0.84 0.85 0.84 325

DER(X) 6.69 4.71 5.17 5.67 5.28

242 213
ROA (%) 2.89 3.86 2.99 2.71 4.20 190 183
163
ROE (%) 22.28 22.09 18.45 18.06 26.38 158

GPM (%) 9.75 13.55 11.93 13.68 12.73

OPM (%) 6.96 9.71 6.18 - - 75

NPM (%) 2.11 3.35 2.73 2.80 4.17

Payout Ratio (%) 31.24 30.75 30.00 20.00 30.00
-8

2009 2010 2011 2012 2013

Yield (%) 6.89 3.55 5.23 1.33 4.48