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Voksel Consolidated Financial Highlights
Total assets increased 6.25% from Rp 1.17 trillion in 2008 to Rp 1.24 trillion in 2009 due to the increase in accounts receivable. Meanwhile, capital expenditure decreased 68.28% from Rp 89.92 billion in 2008 to Rp 28.52 billion in 2009. Sales to asset ratio in 2009 was 1.40, which was lower than 2008 of 1.95.
The Company's current ratio increased to 1.14 in 2009 from 1.09 in 2008, due to increase in assets. In the mean time, total liabilities increased 1.46% to Rp 862.50 billion in 2009 from Rp 850.05 billion in 2008. The Company's equity went up 19.16% from Rp 315.08 billion in 2008 to Rp 375.45 billion in 2009, as a result of net income after tax in 2009 recorded at Rp 53.56 billion
| Description |
2009 |
2008 |
2007 |
2006 |
2005 |
| OPERATING RESULT |
|
|
|
|
|
| |
| Net Sales |
1,729,113 |
2,267,484 |
1,358,648 |
919,537 |
803,283 |
| Gross Profit |
197,884 |
254,384 |
177,346 |
96,031 |
93,927 |
| Operating Income (Loss) |
82,477 |
140,636 |
95,086 |
38,926 |
46,637 |
| Net Income (Loss) |
53,563 |
5,238 |
53,701 |
35,597 |
26,831 |
| Total Shares |
831,120,519 |
831,120,519 |
831,120,519 |
831,120,519 |
126,000,000 |
| Earning (Loss) Per Shares |
64.45 |
6.30 |
64.61 |
64.38 |
212.94 |
| FINANCIAL POSITION |
|
|
|
|
|
|
| Working Capital-Net |
116,496 |
83,356 |
187,854 |
150,172 |
106,957 |
| Current Assets |
960,356 |
915,111 |
667,164 |
348,503 |
276,665 |
| Fixed Assets-Net |
212,644 |
199,374 |
128,707 |
107,358 |
113,856 |
| Deferred Tax Assets |
6,635 |
6,952 |
7,099 |
5,884 |
7,913 |
| Others Assets |
58,323 |
43,691 |
2,104 |
10,195 |
15,858 |
| Total Assets |
1,237,958 |
1,165,128 |
805,074 |
471,940 |
414,293 |
| Current Liabilities |
843,861 |
831,755 |
479,310 |
198,331 |
169,709 |
| Total Liabilities |
862,504 |
850,053 |
496,252 |
212,085 |
181,854 |
| Equity (Capital Deficiency) |
375,454 |
315,075 |
308,822 |
259,855 |
232,439 |
| KEY BUSINESS RATIOS |
|
|
|
|
|
|
| Net Income (Loss) to Total Assets |
4.3 |
0.4 |
6.7 |
7.5 |
6.5 |
| Net Income (Loss) to Sharesholder's Equity |
14.3 |
1.7 |
17.4 |
13.7 |
11.5 |
| Current Ratio |
113.8 |
110 |
139.2 |
175.7 |
163 |
| Total Liabilities to Total Sharesholder's Equity (Capital Deficiency) |
229.7 |
269.8 |
160.7 |
81.6 |
78.2 |
| Total Liabilities to Total Assets |
69.7 |
73 |
61.6 |
44.9 |
43.9 |
| Shareholder's Equity (Capital Deficiency) to Total Assets |
30.3 |
27 |
38.4 |
55.1 |
56.1 |
| Gross Profit to Net Sales |
11.4 |
11.2 |
13.1 |
10.4 |
11.7 |
| Operating Income (Loss) to Net Sales |
4.8 |
6.2 |
7 |
4.2 |
5.8 |
| Net Income (Loss) to Net Sales |
3.1 |
0.2 |
4 |
3.9 |
3.3 |
In Million Rupiah, except ratios in %, total shares in number, gain (loss) per share in Rupiah
| CONSOLIDATED SALES BY PRODUCTS |
|
(Amount in Billion Rp.)
| Description |
2009 |
2008 |
2007** |
2006** |
2005** |
| Rp |
% |
Rp |
% |
Rp |
% |
Rp |
% |
Rp |
% |
| Power Cables |
1,313.0 |
75.93 |
1,698.5 |
74.91 |
933.7 |
68.7 |
619.26 |
67.3 |
537.9 |
67 |
| Telecommunication Cables |
65.6 |
3.79 |
65.3 |
2.88 |
144.8 |
10.6 |
104.56 |
11.4 |
111.8 |
13.9 |
| Fiber Optic Cable |
179.6 |
10.39 |
228.4 |
10.07 |
78.9 |
5.8 |
20.73 |
2.3 |
44.2 |
5.5 |
| Copper Wire |
171.0 |
9.89 |
275.3 |
12.14 |
201.1 |
14.8 |
174.99 |
19 |
109.4 |
13.6 |
| Aluminium Wire Rod |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Others |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Total |
1,729.1 |
100 |
2,267.5 |
100 |
1358.6 |
100 |
919.54 |
100 |
803.3 |
100 | |
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*** 2007: consolidated with PT. Prima Mitra Elektrindo and PT. Bangun Prima Semesta
Company’s Borrowings
As of 31 December 2009, the Company's loan from BNI was Rp 263.28 billion, which consisted of working capital loan of Rp 84.23 billion and L/C used (Trust Receipt) of Rp 179.05 billion compared to 2008 bank loan of Rp 279.59 billion, which consisted of working capital loan of USD 6.97 million and L/C used (Trust Receipt) of USD 9.60 million and Rp 98.04 billion.
The Company is financially capable to serve its loan, and its EBITDA (operating income + depreciation) in 2009 was booked at Rp 108.35 billion or 2.67 times interest expense in 2009 of Rp 40.62 billion. Meanwhile, EBITDA in 2008 was booked at Rp 158.51 billion or 9.32 times interest expense in 2008 of Rp 17.01 billion.
Voksel's Share Price
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