(in billion Rupiah, except for Net income per share and Net income per ADS)
Dec 31,2005
Dec 31,2006
Dec 31,2007
Dec 31,2008
Dec 31,2009
TOTAL OPERATING REVENUES
41,807
51,294
59,440
60,689
64,597
TOTAL OPERATING EXPENSES
24,636
29,701
32,967
38,382
41,994
EBITDA*)
25,660
31,716
37,067
34,621
36,560
OPERATING INCOME
17,171
21,593
26,473
22,307
22,603
OTHER INCOME (EXPENSES) - net
(929)
400
(877)
(1,995)
(254)
INCOME BEFORE TAX
16,242
21,993
25,596
20,312
22,349
NET INCOME
7,994
11,006
12,857
10,619
11,332
Net income per share of Common Stock
396.51
547.15
644.08
537.73
576.13
Net income per ADS(40:1 Common Stock:ADS)
15,860.25
21,886.00
25,763.20
21,509.20
23,045.20
Consolidated Financial and Operational Ratios
Dec 31,2005
Dec 31,2006
Dec 31,2007
Dec 31.2008
Dec 31,2009
Return on Assets (ROA)1(%)
12.9
14.6
15.7
11.6
11.6
Return on Equity (ROE)2(%)
34.3
39.2
38.1
30.9
29.1
Current Ratio3 (%)
76.3
67.8
77.3
54.2
60.6
Total Liabilities to Total Assets4 (%)
52.4
51.7
47.5
51.8
48.8
Operating Margin5 (%)
41.1
42.1
44.5
36.8
35.0
Average Collection Period6 (Days)
31.2
26.5
20.6
21.1
21.4
Adjusted EBITDA Margin7 (%)
61.4
61.8
62.4
57.0
56.6
Net Income Margin8 (%)
19.1
21.5
21.6
17.5
17.5
Debt to Equity 9 (%)
57.9
54.8
46.7
57.6
56.1
Debt to Adjusted EBITDA(%)
52.5
48.5
42.6
57.1
59.8
Adjusted EBITDA to Interest Expense10 (times)
21.8
24.7
25.8
21.9
18.3
Adjusted EBITDA to Net Debt11 (%)
322.7
454.9
677.8
276.0
267.5
PRODUCTIVITY RATIOS :
Total Revenue/Employee (Rp billion)
1.2
1.5
1.8
2.0
2.2
LIS/Employee (sst)
452.4
465.9
593.3
876.8
1,015.6
(1). ROA represents net income divided by total assets as at year end. (2). ROE represents net income divided by total equity as at year end. (3). Current ratio represents current assets divided by current liabilities as at year end. (4). Total Liabilities to total assets represents total liabilities divided by total asset as at year end. (5). Operating margin represents operating income divided by operating revenue. (6). Average Collection Period represents trade receivables divided by operating revenue times 365 days. (7). Adjusted EBITDA margin represents Adjusted EBITDA divided by operating revenue. (8). Net income margin represents net income divided by operating revenue. (9). Debt to equity represents total debt divided by total equity as at year end. (10). Adjusted EBITDA to interest expense represents adjusted EBITDA divided by interest expense. (11). Adjusted EBITDA to net debt represents adjusted EBITDA divided by total debt minus cash and cash equivalents, temporary investments and
escrow accounts as at year end.
*) Adjusted EBITDA is defined as the operating income before depreciation and amortization. Adjusted EBITDA and the related ratios presented
in this Annual Report are supplemental measures of our performance and liquidity that are not required by, or presented in accordance with,
Indonesian GAAP. EBITDA or Adjusted EBITDA are not measurements of our financial performance or liquidity under Indonesian GAAP and
should not be considered as alternatives to net income, operating income or any other performance measures derived in accordance with
Indonesian GAAP or as alternatives to cash flow from operating activities as a measure of our liquidity. We consider Adjusted EBITDA to be a useful
measure of our operating performance because it reflects the underlying operating cash costs, by eliminating depreciation and amortization. The manner in which we calculate Adjusted EBITDA may differ from the use of the term EBITDA or Adjusted EBITDA by other companies.
Set forth below is a reconciliation of our operating income to our Adjusted EBITDA.
Posted on April 23, 2010 Source: TELKOM 2009 Annual Report (filed to Bapepam-LK on April 8, 2010)
