![[f1q09infomemo002.gif]](https://capedge.com/proxy/6-K/0000929700-09-000030/f1q09infomemo002.gif)
FIRST QUARTER 2009
OPERATING AND FINANCIAL RESULTS
Jakarta, 19 June 2009. PT Indosat Tbk (“Indosat” or “the Company”) released its consolidated financial statements for the first quarter of 2009 with limited review by independent auditor (Purwantono, Sarwoko & Sandjaja, a member of Ernst & Young Global).The financial statements were prepared in accordance with the Indonesian Generally Accepted Accounting Principles (GAAP).
I. Operating revenues
Operating revenueswas Rp4,497.4 billion in Q1-09, an increase of Rp228.2 billion [Q1-08 Rp4,269.2 billion] or 5.3% on a year on year basis. This was comprised from a contribution of cellular, fixed data and fixed voice businesses of 74%, 16% and 10% respectively.
Cellular revenues increased 2.6% to Rp3,337.1 billion [Q108:Rp3,251.3 billion] driven by an increase of 25.8% in the subscriber base despite a decline in Average Revenue Per User (ARPU). As at 31 March 2009, our cellular subscriber base totaled 33.3 million subscribers or net additional subscribers of 6.8 million subscribers. While ARPU for cellular customers was Rp30,625, a decline of 28.4% year on year due to intensified price competition in the market which began in early 2008 together with the impact of lower interconnection charges in April 2008. In terms of traffic, the Average Minute of Usage (MOU) was 94.1 minutes, a growth of 21.0 % on Q1-08, driven mainly by an increase in outgoing traffic from low tariff subscribers.
Features revenue increased 22.5% as a result of an increase in the number of SMS delivered by 40% despite a reduction in SMS tariffs.
Following a substantial increase in the net addition of subscribers since early 2008, we identified the development of high levels of calling card behavior from customers who took advantage of competitively priced plans only to then become inactive. Given this market dynamic, we took the decision at the end of Q4 of last year to refocus the strategy of our cellular business on value of market share as opposed to volume. As a result of which, our customer reward system is now based on length of relationship. We have increased the price of our Starter Pack and have reduced free minutes. This strategy has seen us remove 3 million inactive users from our customer base, whilst increasing our active subscriber numbers, stabilizing MOU, and improving the quality of service offered to our customers.
Fixed Data (MIDI) revenues grew 16.1% from Rp612.3 billion in Q1-08 to Rp711.0 billion in Q1-09. This increase is due primarily to increased demand on internet, IPVPN, leased line services, application service and digital data network from corporate customers.
Fixed Voice (Fixed Telecommunication) revenues increased from Rp405.6 billion in Q108 to Rp449.3 billion in Q109. This growth of 10.8% on a year-on-year basis is due to an increase in international call (IDD) revenue as a result of the continued depreciation of the Rupiah against the US Dollar, in particular revenue from incoming calls originated in US Dollars. We have also witnessed a slight growth in revenue from fixed wireless services. As at 31 March 2009, our fixed wireless subscribers were nearly 700,000 a decrease of 2.4% on year on year basis.
II. Operating expenses
Operating expenses were Rp3,441.3 billion in Q1-09, increase of Rp219.2 billion or 6.8% in year on year basis, mostly in the increase in Cost of Services.
Cost of Services expenses increased in Q1-09 to Rp1,584.9 billion: an increase of Rp278.2 billion or 21.3% on Q1-08. This resulted from increases in government levies, utilities sites, rental sites, SIM card costs, leased circuit and interconnection expenses together with the cost of increased maintenance work as a result of network expansion. Government levies are predominantly related to frequency fees including annual 3G license payment, USO and concession fee.
Depreciation and Amortization expenses decreased in Q1-09 to Rp1,125.6 billion: a decrease of Rp33.1 billion or decline by 2.9% on Q1-08. The decrease in depreciation expenses due to impact of change of regrouping of leading to different asset lifetime and impact of accelerated depreciation in 2008.
Personnel expenses decreased in Q1-09 to Rp372.4 billion: a decrease of Rp11.6 billion or 3.0% on Q1-08. The decline was mainly due to decrease in pension contributions (due to an actuarial recalculation), income tax (due to a decrease in the effective tax rate), severance and outsourcing.
Marketing expenses slightly decreased in Q1-09 to Rp193.6 billion: a decrease of Rp0.8 billion or 0.4% on Q1-08, due to careful management of marketing budgets.
Administration & General expensesdecreased in Q1-09 to Rp164.9 billion: a decrease of Rp13.4 billion or 7.5% on Q1-08, following the implementation of a cost efficiency program to minimalise non-value added-operational costs.
III. Other expenses
Other expenses was Rp852.9 billion in Q1-09, an increase of Rp687.4 billion or 415.4% over Q1-08, mostly due to increased losses in foreign exchange and higher financing costs.
Loss on Foreign Exchange-NetandGain on change in fair value of derivatives-Net:Indosat recorded loss on net foreign exchange of Rp467.2 billion in Q1-09, compared to gain of Rp118.9 billion in Q1-08. This loss is due primarily to the weakening Rupiah against US Dollar during Q1-09. However, Indosat recorded net gain on the change in fair value of derivatives in Q1-09 of Rp78.0 billion, which is slightly lower by 1.3% compared to net gain in Q1-08.
Financing cost increased in Q1-09 to Rp452.2 billion: an increase of Rp28.0 billion or 6.6% over Q1-08 due to new bond and loan issuances during 2008 to finance capital expenditure and weakening Rupiah against US Dollar.
Interest incomedecreased in Q1-09 to Rp67.0 billion: a decrease of Rp40.8 billion or 37.9% over Q1-08 resulting from lower average cash balances.
IV. Status of Debt
Changes of the Trustee Agreements. In March 2009, Indosat successfully obtained the consent of its Indonesian Rupiah bond-holders and sukuk-holders to amend certain articles in the trustee agreements. The amendments include the standardization of a number of financial definitions in existing agreements and an adjustment in the debt-to-equity ratio from 1.75x to 2.50x in order to ensure consistency in the calculation and monitoring of these ratios going forward.
Total outstanding debt. As of 31 March 2009, the Company had outstanding debt of Rp22,970.3 billion. The Company had hedging facilities totaling USD509.0 million or 51.6% of the Company’s USD denominated bonds and loans. The Company’s cash position as at 31 March 2009 stood at Rp4,453.6 billion with net debt standing at Rp18,516.7 billion. Indosat’s debt is comprised of Rp12,396.0 billion in loans and Rp10,574.3 billion in bonds representing 54.0% and 46.0% of total debt respectively. In terms of currency 50.5% is denominated in Rupiah and with the remaining 49.5% denominated in USD.
V. Capital expenditures
Committed Capital Expenditure for 1Q-09 was Rp989.1 billion, allocated as follows: (i) Rp252.8 billion for the cellular division (ii) Rp709.5 billion for the fixed telecom and data divisions, infrastructure and Indosat subsidiary, (iii) Rp 22.7 billion for IT, and (iv) Rp 4.2 billion for regional activities and properties.
VI. Network Development
Cellular Networks. During 2009, the Company installed 596 new BTSs so that, as at 31 March 2009, the total number of BTSs stood at 14,758, including 2G and 3G BTSs. Indosat cellular coverage now reaches all 33 provinces and 440 Regencies (or 97.5% of total regencies) and 3,671 districts (or 68.3% of total districts) in Indonesia.
As of 31 March | Q1 2008 | Q1 2009 | Additional | |||||
Base Stations (BTS) | 11,667 | 14,758 | 3,091 | |||||
Base station controllers | 247 | 287 | 40 | |||||
Mobile switching centers | 61 | 86 | 25 | |||||
VI. Marketing Activities ![[f1q09infomemo003.jpg]](https://capedge.com/proxy/6-K/0000929700-09-000030/f1q09infomemo003.jpg){kind=small}
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Cellular.
In January 2009, Indosat launchedNew Mentari Starterpack with Rp3,000 preloaded. After reload, subscribers will get airtime bonus, which can be used for free call, SMS & internet browsing with total value of Rp.18.000 (including the preloaded Rp3,000).
In January 2009, Indosat re-launchedMentari Thousands of Calls for only Rp1,500 per day, which was customized for each region. Customers should spend Rp1,500 per day to get 7,200 seconds to call on net between 00.00 and 17.00 for customers in Java and between 00.00 and 24.00 for customers outside Java. In April 2009, Indosat modified this promotion be divided into weekdays and weekend. Customers should spend Rp1,500 per day on weekdays to get 5,400 seconds free on net calls and spend Rp2,000 per day on weekend to get 5,400 seconds free on net calls.
In February 2009, Indosat launchedIM3 Groove, a creative, fun & complete card for calling, texting and browsing internet focusing on the youth market. GROOV3’s new IM3 Starter Pack and IM3 Starter Pack I-klan offers cheap tariffs for voice call, SMS and Internet. The tariff for voice calls start from as low as Rp0.1/sec, for SMS as low as Rp0.1/SMS and internet as low as Rp10/30seconds.
Also in February 2009, Indosat launchedIM3 New SP with preloaded 5K. After reload, subscribers will get free call, SMS & internet browsing up to a total value of Rp.150.000 in a year.
In January 2009, as a BlackBerry services pioneer in Indonesia, Indosat launched a ‘Blackberry Branded Outlet by Indosat’ which is operated by Indosat as an official partner of Research In Motion (RIM). This outlet offers various services and many benefits of Indosat’s BlackBerry offering, namely the opportunity to choose one of the BlackBerry smartphones, subscribe for Matrix applications, voice services and postpaid data for BlackBerry smartphone for retail customers.
In March 2009, Indosat offeredn another value added service to its BlackBerry subscribers. Indosat increased itslink capacity to RIM (Research in Motion) by 100% from 10 Mbps to 20 Mbps to enableing Indosat BlackBerry subscribers faster and more flexible access. This increase means that Indosat now has the biggest link capacity to RIM in Indonesia.
Fixed Data (MIDI).
In January 2009, Indosat signed a cooperationagreement with Biznet Networks to have Metro Ethernet network interconnection cooperation. The agreement looks to expand the fiber optic network of the two companies by optimizing network capacity benefits, with total coverage reaching the entire Jakarta area within 270 buildings.
Fixed Voice (Fixed Telecommunications).
In Q1 2009, Indosat addedthree more cities to its existing StarOne coverage. The addition of Majalengka, Kuningan, Indramayu brings the total number of StarOne cities to 55 cities. Indosat also offered three months free calls among StarOne customers during a promotion period. Following, the promotion period the tariff will be Rp25/minute for local and long distance call, SMS Rp25/SMS, Rp25/30sec for call to GSM local and long distance and Rp99/MB for internet with speed up to 153,6 kbps.
Disclaimer Statement
This document is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of an offering circular that may be obtained from the Company and will contain detailed information about the Company and management, as well as financial statements. The Company does not intend to register any part of the offering in the United States.
This document contains certain financial information and results of operation, and may also contain certain projections, plans, strategies, and objectives of Indosat, that are not statements of historical fact which would be treated as forward looking statements within the meaning of applicable law. Forward looking statements are subject to risks and uncertainties that may cause actual events and Indosat's future results to be materially different than expected or indicated by such statements. No assurance can be given that the results anticipated by Indosat, or indicated by any such forward looking statements, will be achieved.
Attachment 2 | ||||||||||
PT INDOSAT Tbk AND SUBSIDIARIES | ||||||||||
KEY OPERATIONAL DATA | ||||||||||
FOR THE YEAR ENDED MARCH 31, 2008 & 2009 | ||||||||||
Description | Unit | YTD | YTD | Growth | ||||||
Ended | Ended | |||||||||
31 MAR 2008 | 31 MAR 2009 | |||||||||
1 | 2 | 3=(2-1)/1 | ||||||||
CELLULAR |
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Prepaid | subs | 1,805,197 | (3,323,004) | -284.1% | ||||||
Postpaid | subs | 87,347 | 80,054 | -8.3% | ||||||
Total Net Additions | subs | 1,892,544 | (3,242,950) | -271.4% | ||||||
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Prepaid | subs | 25,750,628 | 32,268,029 | 25.3% | ||||||
Postpaid | subs | 687,338 | 999,267 | 45.4% | ||||||
Total Cellular Subscribers | subs | 26,437,966 | 33,267,296 | 25.8% | ||||||
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ARPU Prepaid | Rp | 37,580 | 27,206 | -27.6% | ||||||
ARPU Postpaid | Rp | 240,417 | 170,491 | -29.1% | ||||||
ARPU Blended | Rp | 42,784 | 30,625 | -28.4% | ||||||
BTS (2G & 3G) | Unit | 11,667 | 14,758 | 26.5% | ||||||
MOU Blended | Minutes | 77.8 | 94.1 | 21.0% | ||||||
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MIDI |
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Indosat : (Accumulated Numbers) |
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Wholesale |
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International High Speed Leased Circuit | cct/64k | 40,626 | 45,526 | 12.1% | ||||||
Domestic High Speed Leased Circuit | cct/64k | 105,838 | 139,887 | 32.2% | ||||||
Satellite Transponder Leased (external usage) | # transp | 13.7 | 16.3 | 19.4% | ||||||
Datacom |
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International High Speed Leased Circuit | cct/64k | 808 | 1,431 | 77.1% | ||||||
Domestic High Speed Leased Circuit | cct/64k | 10,729 | 16,315 | 52.1% | ||||||
Frame Relay | port | 752 | 433 | -42.4% | ||||||
IPVPN | cct/64k | 9,782 | 15,832 | 61.8% | ||||||
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Lintasarta : (Accumulated Numbers) |
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High Speed Leased Line (SDL) | link | 929 | 905 | -2.6% | ||||||
Frame Relay | access | 4,545 | 4,452 | -2.0% | ||||||
VSAT | terminal | 2,071 | 2,713 | 31.0% | ||||||
IPVPN | link | 4,715 | 5,995 | 27.1% | ||||||
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IM2 |
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Internet Dial Up | user | 19,173 | 11,741 | -38.8% | ||||||
Internet Dedicated | link | 1,348 | 1,527 | 13.3% | ||||||
IPVPN | link | 454 | 522 | 15.0% | ||||||
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IDD |
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Outgoing Traffic | min | 95,920,768 | 115,532,201 | 20.4% | ||||||
Incoming Traffic | min | 359,900,452 | 356,196,262 | -1.0% | ||||||
Total Traffic | min | 455,821,220 | 471,728,463 | 3.5% | ||||||
I/C Ratio | - | 3.8 | 3.1 | -17.8% | ||||||
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Fixed Wireless |
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Prepaid | subs | 677,163 | 621,529 | -8.2% | ||||||
Postpaid | subs | 39,050 | 77,245 | 97.8% | ||||||
Total Subscribers | subs | 716,213 | 698,774 | -2.4% | ||||||
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ARPU Prepaid | Rp | 25,294 | 20,749 | -18.0% | ||||||
ARPU Postpaid | Rp | 123,786 | 66,045 | -46.6% | ||||||
ARPU Blended | Rp | 30,588 | 25,601 | -16.3% | ||||||
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EMPLOYEES | ||||||||||
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| Indosat and its subsidiaries | ||||||
person | 7,592 | 7,356 | -3.1% | (including non permanent employees) | ||||||
![[f1q09infomemo008.gif]](https://capedge.com/proxy/6-K/0000929700-09-000030/f1q09infomemo008.gif)
Attachment 3 | ||||||||||||
PT INDOSAT Tbk AND SUBSIDIARIES | ||||||||||||
CONSOLIDATED STATEMENTS OF INCOME | ||||||||||||
THREE MONTHS ENDED MARCH 31, 2008 & 2009 | ||||||||||||
(Expressed in Billions of Indonesian Rupiah and Millions of U.S.Dollars, except Share Data) | ||||||||||||
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| Three Months |
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| Ended March 31 |
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| DESCRIPTION |
| 2008 |
| 2009 |
| Growth (2) |
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| Rp | US $(1) |
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| OPERATING REVENUES |
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| Cellular |
| 3,251.3 |
| 3,337.1 | 288.3 |
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| 2.6% |
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| Multimedia, Data Communication, Internet ("MIDI") |
| 612.3 |
| 711.0 | 61.4 |
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| 16.1% |
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| Fixed Telecommunication |
| 405.6 |
| 449.3 | 38.8 |
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| 10.8% |
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| TOTAL OPERATING REVENUES |
| 4,269.2 |
| 4,497.4 | 388.5 |
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| 5.3% |
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| OPERATING EXPENSES |
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| Cost of services |
| 1,306.7 |
| 1,584.9 | 136.9 |
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| 21% |
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| Depreciation & amortization |
| 1,158.6 |
| 1,125.6 | 97.2 |
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| -3% |
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| Personnel |
| 384.0 |
| 372.4 | 32.2 |
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| -3% |
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| Marketing |
| 194.4 |
| 193.6 | 16.7 |
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| 0% |
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| Administration and general |
| 178.3 |
| 164.9 | 14.2 |
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| -8% |
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| TOTAL OPERATING EXPENSES |
| 3,222.1 |
| 3,441.3 | 297.3 |
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| 7% |
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| OPERATING INCOME |
| 1,047.1 |
| 1,056.1 | 91.2 |
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| 0.9% |
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| OTHER INCOME (EXPENSES) |
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| Gain on change in fair value of derivatives - net |
| 79.0 |
| 78.0 | 6.7 |
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| -1.3% |
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| Interest income |
| 107.8 |
| 67.0 | 5.8 |
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| -37.9% |
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| Financing cost |
| (424.2) |
| (452.2) | (39.1) |
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| 6.6% |
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| Gain (loss) on foreign exchange - net |
| 118.9 |
| (467.2) | (40.4) |
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| -492.9% |
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| Amortization of goodwill |
| (56.6) |
| (59.1) | (5.1) |
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| 4.3% |
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| Others - net |
| 9.7 |
| (19.5) | (1.7) |
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| -301.9% |
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| TOTAL OTHER INCOME(EXPENSES) - Net |
| (165.5) |
| (852.9) | (73.7) |
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| 415.4% |
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| INCOME BEFORE INCOME TAX |
| 881.6 |
| 203.2 | 17.6 |
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| -77.0% |
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| INCOME TAX BENEFIT (EXPENSE) |
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| Current |
| (298.9) |
| (46.1) | (4.0) |
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| -84.6% |
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| Deferred |
| 39.7 |
| (23.4) | (2.0) |
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| -158.9% |
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| TOTAL INCOME TAX BENEFIT (EXPENSE) - Net |
| (259.2) |
| (69.5) | (6.0) |
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| -73.2% |
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| INCOME BEFORE MINORITY INTEREST IN NET INCOME OF |
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| OF SUBSIDIARIES |
| 622.4 |
| 133.6 | 11.5 |
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| -78.5% |
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| MINORITY INTEREST IN NET INCOME OF SUBSIDIARIES |
| (8.5) |
| (14.1) | (1.2) |
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| 65.3% |
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| NET INCOME |
| 613.9 |
| 119.5 | 10.3 |
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| -80.5% |
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| BASIC EARNINGS PER SHARE |
| 112.97 |
| 21.99 | 0.00 |
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| -80.5% |
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| BASIC EARNINGS PER ADS (50 B shares per ADS) |
| 5,648.50 |
| 1,099.75 | 0.10 |
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| -80.5% |
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(1) | Translated into U.S. dollars using Rp11,575 to US$1 (in full amounts) as the prevailing exchange rate as of the balance sheet date |
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(2) | Percentage changes may vary due to rounding. |
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Attachment 4 | |||||||||
PT INDOSAT Tbk AND SUBSIDIARIES | |||||||||
CONSOLIDATED BALANCE SHEETS | |||||||||
MARCH 31, 2008 AND 2009 | |||||||||
(Expressed in Billions of Indonesian Rupiah and Millions of U.S. Dollars) | |||||||||
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| 2008 | 2009 | |||
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| DESCRIPTION | Rp | Rp | US$(1) |
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| ASSETS |
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| CURRENT ASSETS |
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| Cash and cash equivalents | 7,695.8 |
| 4,453.6 | 384.8 |
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| Short-term investments - net of allowance | 1.3 |
| - | - |
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| Accounts receivable - net of allowance |
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| Trade |
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| Related parties | 237.6 |
| 70.8 | 6.1 |
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| Third parties | 1,062.2 |
| 1,221.4 | 105.5 |
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| Others | 39.8 |
| 21.6 | 1.9 |
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| Inventories | 220.3 |
| 218.4 | 18.9 |
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| Derivative assets | 193.6 |
| 769.5 | 66.5 |
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| Advances | 40.0 |
| 47.9 | 4.1 |
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| Prepaid taxes | 662.1 |
| 638.0 | 55.1 |
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| Prepaid expenses | 477.5 |
| 844.4 | 73.0 |
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| Other current assets | 34.8 |
| 45.1 | 3.9 |
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| Total Current Assets | 10,664.8 |
| 8,330.8 | 719.7 |
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| NON-CURRENT ASSETS |
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| Due from related parties - net of allowance | 47.6 |
| 48.3 | 4.2 |
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| Deferred tax assets - net | 93.9 |
| 72.4 | 6.3 |
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| Investment in associated companies - net of allowance | 0.3 |
| 0.7 | 0.1 |
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| Other long-term investments - net of allowance | 2.7 |
| 2.7 | 0.2 |
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| Property and equipment - net | 32,126.5 |
| 41,582.2 | 3,592.4 |
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| Goodwill and other intangible assets - net | 2,276.2 |
| 2,000.4 | 172.8 |
| ||
|
| Long-term receivables | 76.4 |
| 69.9 | 6.0 |
| ||
|
| Long-term prepaid pension - net of current portion | 187.7 |
| 164.8 | 14.2 |
| ||
|
| Long-term advances | 417.4 |
| 369.3 | 31.9 |
| ||
|
| Others | 565.6 |
| 802.7 | 69.3 |
| ||
| Total Non-current Assets | 35,794.3 |
| 45,113.4 | 3,897.5 |
| |||
|
|
|
|
|
|
|
|
|
|
| TOTAL ASSETS | 46,459.0 |
| 53,444.1 | 4,617.2 |
| |||
|
|
|
|
|
|
|
|
|
|
(1) | Translated into U.S. dollars using Rp11,575 to US$1 (in full amounts) as the prevailing exchange rate as of the balance sheet date |
| |||||||
PT INDOSAT Tbk AND SUBSIDIARIES | ||||||||||
CONSOLIDATED BALANCE SHEETS | ||||||||||
MARCH 31, 2008 AND 2009 | ||||||||||
(Expressed in Billions of Indonesian Rupiah and Millions of U.S. Dollars) | ||||||||||
|
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|
|
| 2008 | 2009 |
| |||
|
|
| DESCRIPTION | Rp | Rp | US$(1) |
| |||
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|
|
|
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|
|
|
| |
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|
|
|
|
| |
|
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| |
LIABILITIES AND STOCKHOKDERS' EQUITY |
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|
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|
|
|
| |
| CURRENT LIABILITIES |
|
|
|
|
| ||||
|
| Accounts payable - trade |
|
|
|
|
| |||
|
|
| Related parties | 32.3 |
| 22.4 | 1.9 |
| ||
|
|
| Third parties | 468.4 |
| 582.6 | 50.3 |
| ||
|
| Dividend payable | 0.0 |
| 9.3 | 0.8 |
| |||
|
| Procurement payable | 6,163.6 |
| 7,006.8 | 605.3 |
| |||
|
| Taxes payable | 282.1 |
| 189.1 | 16.3 |
| |||
|
| Accrued expenses | 1,282.5 |
| 1,402.8 | 121.2 |
| |||
|
| Unearned income | 743.9 |
| 763.5 | 66.0 |
| |||
|
| Deposits from customers | 30.4 |
| 36.1 | 3.1 |
| |||
|
| Derivative liabilities | 33.6 |
| 308.6 | 26.7 |
| |||
|
| Current maturities of : |
|
|
|
|
| |||
|
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| Loans payable | 548.0 |
| 765.3 | 66.1 |
| ||
|
|
| Bonds payable | 1,860.0 |
| 56.4 | 4.9 |
| ||
|
| Other current liabilities | 72.9 |
| 44.9 | 3.9 |
| |||
| Total Current Liabilities | 11,517.7 |
| 11,187.9 | 966.5 |
| ||||
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| |
| NON-CURRENT LIABILITIES |
|
|
|
|
| ||||
|
| Due to related parties | 20.4 |
| 43.8 | 3.8 |
| |||
|
| Deferred tax liabilities - net | 1,450.3 |
| 1,331.4 | 115.0 |
| |||
|
| Loans payable - net of current maturities |
|
|
|
|
| |||
|
|
| Related parties | 2,244.3 |
| 1,593.7 | 137.7 |
| ||
|
|
| Third parties | 2,842.5 |
| 10,037.0 | 867.1 |
| ||
|
| Bonds payable - net of current maturities | 9,997.0 |
| 10,517.9 | 908.7 |
| |||
|
| Other non-current libilities | 929.0 |
| 914.7 | 79.0 |
| |||
| Total Non-Current Liabilities | 17,483.5 |
| 24,438.5 | 2,111.3 |
| ||||
|
|
|
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|
|
|
|
|
| |
| TOTAL LIABILITIES | 29,001.2 |
| 35,626.3 | 3,077.8 |
| ||||
|
|
|
|
|
|
|
|
|
| |
| MINORITY INTEREST | 297.0 |
| 292.1 | 25.3 |
| ||||
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| |
| STOCKHOLDERS' EQUITY |
|
|
|
|
| ||||
|
| Capital stock | 543.4 |
| 543.4 | 46.9 |
| |||
|
| Premium on capital stock | 1,546.6 |
| 1,546.6 | 133.6 |
| |||
|
| Difference in transactions of equity changes in |
|
|
|
|
| |||
|
|
| associated companies / subsidiaries | 403.8 |
| 404.1 | 34.9 |
| ||
|
| Difference in foreign currency translation | 8.4 |
| 9.9 | 0.9 |
| |||
|
| Retained Earning |
|
|
|
|
| |||
|
|
| Appropriated | 80.3 |
| 100.7 | 8.7 |
| ||
|
|
| Unappropriated | 13,964.5 |
| 14,801.6 | 1,278.8 |
| ||
|
|
| Net income for this period | 613.9 |
| 119.5 | 10.3 |
| ||
|
| Total Retained Earning | 14,658.6 |
| 15,021.8 | 1,297.8 |
| |||
| Total Stockholders' Equity | 17,160.8 |
| 17,525.7 | 1,514.1 |
| ||||
|
|
|
|
|
|
|
|
|
| |
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY | 46,459.0 |
| 53,444.1 | 4,617.2 |
| |||||
(1) | Translated into U.S. dollars using Rp11,575 to US$1 (in full amounts) as the prevailing exchange rate as of the balance sheet date |
| ||||||||
Attachment 5 | |||||
PT INDOSAT Tbk AND SUBSIDIARIES | |||||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||
THREE MONTHS ENDED MARCH 31, 2008 and 2009 | |||||
(Expressed in Billions of Indonesian Rupiah and Millions of U.S.Dollars) | |||||
Description | 2008 | 2009 | |||
| Rp | Rp | US$ | ||
|
|
|
|
| |
CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| ||
Cash received from: |
|
|
| ||
| Customers | 3,992.1 | 4,434.0 | 383.1 | |
| Refund of taxes | 0.0 | 84.7 | 7.3 | |
| Interest income | 104.4 | 68.8 | 5.9 | |
|
|
|
|
| |
Cash paid for: |
|
|
| ||
| Employees, suppliers and others | (2,438.0) | (2,493.6) | (215.4) | |
| Taxes | (476.3) | (255.7) | (22.1) | |
| Financing cost | (328.7) | (164.1) | (14.2) | |
| Interest rate swap contracts paid | - | (2.0) | (0.2) | |
Net Cash Provided by Operating Activities | 853.5 | 1,672.1 | 144.5 | ||
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| |
CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| ||
Proceeds from sale of property and equipment | 0.0 | 1.4 | 0.1 | ||
Acquisition of property and equipment | (1,713.8) | (3,388.9) | (292.8) | ||
Acquisition of intangible assets | (4.8) | (11.5) | (1.0) | ||
Net Cash Used in Investing Activities | (1,718.6) | (3,399.0) | (293.6) | ||
|
|
|
|
| |
CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| ||
Proceeds from long-term loans | 510.0 | 510.2 | 44.1 | ||
Repayment of long-term loans | (4.5) | (59.4) | (5.1) | ||
Decrease (increase) in restricted cash and cash equivalents |
| 2.4 | (8.2) | (0.7) | |
Net Cash Provided by Financing Activities | 507.9 | 442.6 | 38.2 | ||
|
|
|
|
| |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (357.2) | (1,284.3) | (111.0) | ||
|
|
|
|
| |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 8,053.0 | 5,737.9 | 495.7 | ||
|
|
|
|
| |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 7,695.8 | 4,453.6 | 384.8 | ||
Endnotes
Investor Relations Division
PT Indosat Tbk - Indonesia
Ph: +62 21 3869614/300030001
Fax : +62 21 3804045
E-mail :investor@indosat.com
http://www.indosat.com
Q1-08 Results
Page 1