Financial Report PT. Indofood

INDOFOOD SUKSES MAKMUR TBK.

Company Profile

PT Indofood Sukses Makmur Tbk (“the Company”) was established in the Republic of Indonesia on August 14th, 1990 under its original name PT Panganjaya Intikusuma, based on Notarial Deed No. 228 of Benny Kristianto, S.H. The Company’s head office is located at Sudirman Plaza, Indofood Tower, 27th Floor, Jln. Jend. Sudirman Kav. 76 ‐ 78, Jakarta, Indonesia, while its factories are situated in various locations in Java, Sumatera, Kalimantan, Sulawesi islands and Malaysia. From simple beginnings as an instant noodle producer, Indofood has been progressively transformed to become a Total Food Solutions company with operations in all stages of food manufacturing from the production of raw materials and their processing through to consumer products on the retailer’s shelf. A leader within its industry in Indonesia, an extensive distribution system supports the position of the company’s products as household names in every part of the country. The Company operates four complementary Strategic Business Groups (Group): • Consumer Branded Products (CBP), the producer of a range of packaged foods under a

number of divisions including Noodles, Dairy, Food Seasoning, Snack Foods, Nutrition & Special Foods and Biscuit. CBP Group is supported by the Food Ingredients and Packaging Divisions.

• Bogasari, producer of flour and pasta. The group is supported by a shipping unit. • Agribusiness, principal activities range from research and development, oil palm seed

breeding and cultivation as well as refining, branding and marketing of cooking oil, margarine and shortening. In addition, the group is also involved in the cultivation and processing of rubber, sugar cane, cocoa and tea.

• Distribution boasts the most extensive distribution network in Indonesia. It distributes the majority of the Company’s consumer products as well as third party products.

Indofood’s strongest legacy today is the strength of its brands, many of which have been companions to the people of Indonesia for years. These include a variety of brands of instant noodles (Indomie, Supermi and Sarimi), wheat flour (Segitiga Biru, Kunci Biru and Cakra Kembar), cooking oil (Bimoli), margarine (Simas Palmia). Despite intense competition, these brands remain the market leaders in their specific segments with a reputation for quality and value for money that remains unrivalled.

August 2010

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.

C O M P A N Y R E P O R T C O M P A N Y R E P O R T

INDF

COMPANY REPORT : JULY 2010 As of 30 July 2010 Main Board Individual Index : Industry Sector : Consumer Goods Industry (5) Listed Shares : Industry Sub Sector : Food And Beverages (51) Market Capitalization:

COMPANY HISTORY SHAREHOLDERS (July 2010)Established Date : 14-Aug-1990 1. Cab Holdings Limited :Listing Date : 14-Jul-1994Under Writer IPO : DIVIDEND ANNOUNCEMENT

PT Merincorp S.I. Bonus CashSecurities Administration Bureau : Shares Devidend

PT Raya Saham Registra 58.00Plaza Central Building 2nd Fl. 80.00Jln. Jend. Sudirman Kav. 47-48 Jakarta 47.00Phone : 252-5666 18.00Fax : 252-5028 25.00

28.00BOARD OF COMMISSIONERS 28.00

Manuel V. Pangilinan 17.50Ambassador Albert F. Del Rosario 5.00Benny Setiawan Santoso 31.00Edward A. Tortorici 43.00Graham L. Pickles 47.00Ibrahim Risjad 93.00Robert Charles NicholsonTorstein Stephansen *) ISSUED HISTORYUtomo Josodirdjo *)Wahjudi Prakarsa *) Type of Listing

*) Independent Commissioners 1. First Issue2. Option Conversion

BOARD OF DIRECTORS 3. Option ConversionAnthoni Salim 4. Option ConversionAxton Salim 5. Option ConversionDarmawan Sarsito (Kevin Sietho) 6. Option ConversionFranciscus Welirang 7. Option ConversionMoleonoto (Paulus Moleonoto) 8. Option ConversionPeter Kradolfer 9. Option ConversionTaufik Wiraatmadja 10. Option ConversionTjhie Tje Fie (Thomas Tjhie) 11. Option ConversionWerianty Setiawan 12. Founders Shares :

13. Option ConversionAUDIT COMMITTEE 14. Option Conversion

Utomo Josodirdjo 15. Option ConversionMonang Silalahi 16. Option ConversionTimotius 17. Option ConversionWahjudi Prakarsa 18. Option III Conversion

19. Option III ConversionCORPORATE SECRETARY 20. Option III Conversion

Werianty Setiawan 21. Option III Conversion22. Option III Conversion

HEAD OFFICE 23. Stock SplitSudirman Plaza, Indofood Tower 27th Fl. 24. Option III ConversionJln. Jend. Sudirman Kav. 76 - 78, Jakarta 12190 25. Buy BackPhone : (021) 5795-8822 26. Right IssueFax : (021) 5793-7373 27. Stock Split

28. Option ConversionHomepage : www.indofood.com 29. Option ConversionEmail : [email protected] 30. Option Conversion

[email protected] 31. Option Conversion

Ex Recording PaymentYear

1.2.3.4.

Cum

Shares21,000,0001,512,500

14-Jul-94 14-Jul-9417-May-02 17-May-02

Listing TradingDate Date

22-Jul-09 F2009 19-Jul-10 20-Jul-10 22-Jul-10 05-Aug-10 F

15-Aug-07 F2007 12-Aug-08 13-Aug-08 15-Aug-08 27-Aug-08 F

2002 17-Jul-03 18-Jul-032003 15-Jul-04 16-Jul-042005 26-Aug-05 29-Aug-052005 20-Jul-06 21-Jul-062006 27-Jul-07

8.

9.

20-Jul-04 02-Aug-04

07-Jun-02920,000 10-Jun-02 10-Jun-02190,000 14-Jun-02 14-Jun-02131,500 18-Jun-02 18-Jun-02397,500

F31-Aug-05 15-Sep-0525-Jul-06 08-Aug-06 F

30-Jul-07 01-Aug-07

2001 09-Jul-02 10-Jul-02 15-Jul-02 29-Jul-02

4.5.

9.

2008 02-Jul-09 03-Jul-09 07-Jul-09

22-May-0228-May-02

30-May-02 30-May-0214,096,000 05-Jun-02 05-Jun-0286,874,500 07-Jun-02

F22-Jul-03 05-Aug-03 F

40,609,472,562,500

Date F/I

F

50.05%4,394,603,450

22-Jul-96 21-Aug-96 F31-Aug-95 F

2000 11-Jul-01 12-Jul-01 17-Jul-01 31-Jul-0110-Jul-97 11-Jul-97 22-Jul-97 22-Aug-97 F

INDFIndofood Sukses Makmur Tbk.791.694

8,780,426,500

11-Jul-9621-Jul-95

1995 12-Jul-9624-Jul-95

Date Date Date1994

1996

01-Aug-95

6.7.

1.

8.

2.3.

1.2.

6.5.

3.4.

7.

10.

1,665,500 22-May-0265,849,500 28-May-0212,722,000

25-Jun-02 25-Jun-02742,000,000 T: 14-Jul-94 08-Feb-95

92,500 28-Jun-02 28-Jun-0241,577,500 15-Jul-02 15-Jul-02

188,500 20-May-03 20-May-031,080,000 21-May-03 21-May-03

57,101,000 12-Jun-03 12-Jun-0326,000 06-Feb-04 06-Feb-049,000 09-Feb-04 09-Feb-042,000 22-Apr-04 22-Apr-041,000 28-Apr-04 28-Apr-041,000 10-May-04 10-May-04

763,000,000 12-Aug-96 12-Aug-96880,500 24-May-04 24-May-04

-663,762,500 28-Oct-08 28-Oct-08305,200,000 24-Apr-97 24-Apr-97

7,324,800,000 29-Sep-00 29-Sep-00228,000 07-May-02 07-May-02185,000 10-May-02 10-May-02407,500 13-May-02 13-May-02

2,050,500 15-May-02 15-May-02

TRADING ACTIVITIESFreq. Volume Value

Month High Low Close (X) (Thou. Sh) (Million Rp) Jan-06 990 820 880 6,085 393,388 359,220 20 Feb-06 930 830 840 4,062 278,240 244,776 20 Mar-06 890 810 890 9,860 746,260 634,146 21 Apr-06 1,140 860 1,130 10,028 989,539 970,177 18 May-06 1,240 880 940 14,783 1,402,418 1,528,498 21 Jun-06 1,030 840 880 10,986 766,109 697,025 22 Jul-06 1,050 870 1,050 8,237 683,214 652,176.9 21 Aug-06 1,220 1,010 1,190 9,697 862,807 954,278 20 Sep-06 1,280 1,120 1,250 8,613 878,598 1,078,594 21 Oct-06 1,340 1,230 1,330 5,825 397,222 513,753 17 Nov-06 1,450 1,310 1,400 7,439 543,986 754,160 22 Dec-06 1,430 1,270 1,350 4,646 305,240 416,274 19 Jan-00 Jan-07 1,730 1,280 1,690 11,963 1,115,229 1,616,042 22 Feb-07 1,810 1,450 1,560 9,752 680,406 1,147,048 20 Mar-07 1,580 1,370 1,520 10,461 751,191 1,051,102 21 Apr-07 1,740 1,520 1,640 9,011 680,272 997,079 20 May-07 1,830 1,630 1,730 9,470 734,761 1,075,289 19 Jun-07 2,200 1,750 2,025 13,279 608,705 1,198,264 20 Jul-07 2,275 1,925 2,000 11,854 496,903 1,056,660 22 Aug-07 2,000 1,560 1,860 11,224 554,974 904,611 22 Sep-07 1,990 1,770 1,930 11,761 380,869 714,101 20 Oct-07 2,200 1,850 2,200 15,613 673,451 1,378,549 20 Nov-07 2,850 2,125 2,525 20,695 1,062,449 2,630,229 22 Dec-07 2,725 2,400 2,575 6,023 193,783 497,064 16 Jan-00 Jan-08 3,275 2,475 2,825 21,808 892,868 2,552,193 20 Feb-08 3,075 2,675 2,925 14,828 705,872 1,978,606 19 Mar-08 2,950 2,150 2,325 15,641 504,388 1,259,261 18 Apr-08 2,475 2,125 2,275 13,080 538,083 1,185,290 22May 08 2 925 2 275 2 800 13 017 390 612 1 032 416 20

Day

Indofood Sukses Makmur Tbk.

Closing Price

60

120

180

240

300

360

420

700

1,400

2,100

2,800

3,500

4,200

4,900

Jan 06 Jan 07 Jan 08 Jan 09 Jan 10

INDOFOOD SUKSES MAKMUR TBK.JANUARY 2006 - JULY 2010

CLOSING PRICE* AND TRADING VOLUMEClosing

Price* Volume (Mill. Sh)

350%

420%

350%

420%

Jakarta Composite IndexConsumer Goods IndexClosing Price

CHANGE OF CLOSING PRICE

JANUARY 2006 - JULY 2010CONSUMER GOODS INDEX AND JAKARTA COMPOSITE INDEX

INDF

May-08 2,925 2,275 2,800 13,017 390,612 1,032,416 20 Jun-08 2,850 2,300 2,400 11,290 395,004 816,394 21 Jul-08 2,450 2,000 2,275 11,723 301,516 664,730 22 Aug-08 2,275 1,850 2,250 19,192 733,740 1,602,383 20 Sep-08 2,275 1,750 1,960 17,537 363,057 757,186 21 Oct-08 1,910 940 1,090 22,461 504,408 681,497 18 Nov-08 1,290 840 970 36,235 918,540 928,159 20 Dec-08 1,030 870 930 27,583 787,123 751,197 19 Jan-00 Jan-09 1,130 920 980 29,766 1,290,037 1,331,224 19 Feb-09 1,030 860 880 21,979 588,202 553,241 20 Mar-09 1,000 820 940 22,837 607,038 556,675 20 Apr-09 1,300 900 1,280 49,778 2,183,917 2,394,865 20 May-09 1,950 1,240 1,780 33,717 1,063,904 1,686,046 20 Jun-09 1,990 1,620 1,890 43,502 1,017,696 1,901,543 22 Jul-09 2,350 1,730 2,275 37,559 959,545 1,936,235 21 Aug-09 2,725 2,175 2,500 50,780 1,036,578 2,493,334 20 Sep-09 3,050 2,375 3,025 32,194 854,259 2,316,405 18

SHARES TRADED 2006 2007 2008 2009 Jul-10 Oct-09 3,300 2,700 3,075 21,560 497,217 1,520,961 22Volume (Million Shares) 8,247 7,933 7,035 10,912 3,107 Nov-09 3,250 2,925 3,075 12,704 294,624 908,260 20Value (Billion Rp) 8,803 14,266 14,209 18,975 11,904 Dec-09 3,625 3,075 3,550 16,435 519,266 1,375,914 19Frequency (X) 100,261 141,106 224,395 372,811 160,561 Jan-00Days 242 244 240 241 145 Jan-10 3,900 3,400 3,600 19,155 416,987 1,542,974 20

Feb-10 3,950 3,375 3,800 16,258 332,640 1,220,407 19Price (Rupiah) Mar-10 4,225 3,700 3,775 22,401 373,683 1,463,808 22 High 1,450 2,850 3,275 3,625 4,725 Apr-10 3,950 3,700 3,900 26,928 468,345 1,798,803 21 Low 810 1,280 840 820 3,300 May-10 3,950 3,300 3,650 33,032 644,511 2,320,315 19 Close 1,350 2,575 930 3,550 4,625 Jun-10 4,225 3,475 4,150 22,744 514,572 1,995,277 22 Close* 1,350 2,575 930 3,550 4,625 Jul-10 4,725 4,100 4,625 20,043 355,861 1,561,997 22

Aug-10PER (X) 19.28 26.69 7.89 14.84 16.07 Sep-10PER Industry (X) 16.98 11.98 8.75 13.04 15.45 Oct-10PBV (X) 2.59 3.84 0.96 3.23 3.80 Nov-10

Dec-10* Adjusted price after corporate action

60

120

180

240

300

360

420

700

1,400

2,100

2,800

3,500

4,200

4,900


INDOFOOD SUKSES MAKMUR TBK.JANUARY 2006 - JULY 2010

CLOSING PRICE* AND TRADING VOLUMEClosing

Price* Volume (Mill. Sh)

-70%

-

70%

140%

210%

280%

350%

420%

-70%

-

70%

140%

210%

280%

350%

420%


Jakarta Composite IndexConsumer Goods IndexClosing Price

CHANGE OF CLOSING PRICE

JANUARY 2006 - JULY 2010CONSUMER GOODS INDEX AND JAKARTA COMPOSITE INDEX

INDF

Financial Data and RatiosPublic Accountant : Purwantono, Sarwoko & Sandjaja (Member of Ernst & Young Global Limited) Book End : December

BALANCE SHEET Dec-2006 Dec-2007 Dec-2008 Dec-2009 Jun-2010(Million Rp except Par Value)Cash & Cash Equivalents 1,794,451 4,536,937 4,271,208 4,474,830 5,855,446R i bl 1 668 487 2 367 820 2 760 971 2 296 474 3 225 577

Indofood Sukses Makmur Tbk. INDF

42,500Assets Liabilities

TOTAL ASSETS AND LIABILITIES(Billion Rupiah)

Receivable 1,668,487 2,367,820 2,760,971 2,296,474 3,225,577

Inventories 2,975,274 4,169,150 6,061,219 5,117,484 5,035,658Current Assets 7,457,559 11,766,665 14,598,422 12,954,813 14,873,999Fixed Assets 6,440,524 8,079,455 9,586,545 10,808,449 11,228,493Other Assets 747,886 900,400 1,673,000 2,044,473 146,096Total Assets 16,112,493 29,527,466 39,594,264 40,382,953 42,072,894Growth (%) 83.26% 34.09% 1.99% 4.18%

-

8,500

17,000

25,500

34,000

42,500

2006 2007 2008 2009 Jun-10

Assets Liabilities


Current Liabilities 6,273,098 12,776,365 16,262,161 11,158,962 12,460,512Long Term Liabilities 4,247,287 5,899,543 10,170,208 13,727,819 13,326,334Total Liabilities 10,523,697 18,679,042 26,435,324 24,886,781 25,786,846Growth (%) 77.50% 41.52% -5.86% 3.62%

Minority Interest 657,710 3,721,828 4,660,191 5,340,677 5,542,628Authorized Capital 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000Paid up Capital 944,419 944,419 878,043 878,043 878,043Paid up Capital (Shares) 9,444 9,444 8,780 8,780 8,780

-

8,500

17,000

25,500

34,000

42,500

2006 2007 2008 2009 Jun-10

Assets Liabilities


4,931

7,127

8,499

10,15510,743

6,446

8,595

TOTAL EQUITY (Billion Rupiah)

Par Value 100 100 100 100 100Retained Earnings 4,283,280 4,999,251 5,328,387 6,991,568 7,568,502Total Equity 4,931,086 7,126,596 8,498,749 10,155,495 10,743,420Growth (%) 44.52% 19.25% 19.49% 5.79%

INCOME STATEMENTS Dec-2006 Dec-2007 Dec-2008 Dec-2009 Jun-2010Total Revenues 21,941,558 27,858,304 38,799,279 37,140,830 18,122,582Growth (%) 26.97% 39.27% -4.27%

-

8,500

17,000

25,500

34,000

42,500

2006 2007 2008 2009 Jun-10

Assets Liabilities


4,931

7,127

8,499

10,15510,743

-

2,149

4,297

6,446

8,595

2006 2007 2008 2009 Jun-10


TOTAL REVENUES (Billion Rupiah)Expenses 16,760,382 21,281,752 29,822,362 27,018,884 12,240,369Gross Profit 5,181,176 6,576,552 8,976,917 10,121,946 5,882,213Operating Expenses 3,205,467 3,682,124 4,635,441 5,117,737 2,761,786Operating Profit 1,975,709 2,894,428 4,341,476 5,004,209 3,120,427Growth (%) 46.50% 49.99% 15.27%

Other Income (Expenses) -750,485 -829,199 -1,741,653 -940,396 -608,663Income before Tax 1,225,224 2,065,229 2,599,823 4,063,813 2,511,764Tax 473,176 696,842 801,553 1,207,032 716,067

-

8,500

17,000

25,500

34,000

42,500

2006 2007 2008 2009 Jun-10

Assets Liabilities


4,931

7,127

8,499

10,15510,743

-

2,149

4,297

6,446

8,595

2006 2007 2008 2009 Jun-10


21,942

27,858

38,799 37,141

18,123

7,760

15,520

23,280

31,039

38,799

TOTAL REVENUES (Billion Rupiah)

Minority Interest -90,838 -387,270 -782,597 -780,920 -385,189Net Income 661,210 980,357 1,034,389 2,075,861 1,410,508Growth (%) 48.27% 5.51% 100.68%

RATIOS Dec-2006 Dec-2007 Dec-2008 Dec-2009 Jun-2010Current Ratio (%) 118.88 92.10 89.77 116.09 119.37Dividend (Rp) 31.00 43.00 47.00 93.00 -EPS (Rp) 70.01 103.81 117.81 236.42 160.64BV (Rp) 522.13 754.60 967.92 1,156.61 1,223.56

-

8,500

17,000

25,500

34,000

42,500

2006 2007 2008 2009 Jun-10

Assets Liabilities


4,931

7,127

8,499

10,15510,743

-

2,149

4,297

6,446

8,595

2006 2007 2008 2009 Jun-10


21,942

27,858

38,799 37,141

18,123

-

7,760

15,520

23,280

31,039

38,799

2006 2007 2008 2009 Jun-10


2,076

1,4111,661

2,076

NET INCOME (Billion Rupiah)

DAR (X) 0.65 0.63 0.67 0.62 0.61DER(X) 2.13 2.62 3.11 2.45 2.40ROA (%) 7.60 6.99 6.57 10.06 5.97ROE (%) 24.85 28.98 30.59 40.02 23.38GPM (%) 23.61 23.61 23.14 27.25 32.46OPM (%) 9.00 10.39 11.19 13.47 17.22NPM (%) 3.01 3.52 2.67 5.59 7.78Payout Ratio (%) 44.28 41.42 39.90 39.34 -Yield (%) 2.30 1.67 5.05 2.62 -

-

8,500

17,000

25,500

34,000

42,500

2006 2007 2008 2009 Jun-10

Assets Liabilities


4,931

7,127

8,499

10,15510,743

-

2,149

4,297

6,446

8,595

2006 2007 2008 2009 Jun-10


21,942

27,858

38,799 37,141

18,123

-

7,760

15,520

23,280

31,039

38,799

2006 2007 2008 2009 Jun-10


661

980 1,034

2,076

1,411

-

415

830

1,246

1,661

2,076

2006 2007 2008 2009 Jun-10


( )

-

8,500

17,000

25,500

34,000

42,500

2006 2007 2008 2009 Jun-10

Assets Liabilities


4,931

7,127

8,499

10,15510,743

-

2,149

4,297

6,446

8,595

2006 2007 2008 2009 Jun-10


21,942

27,858

38,799 37,141

18,123

-

7,760

15,520

23,280

31,039

38,799

2006 2007 2008 2009 Jun-10


661

980 1,034

2,076

1,411

-

415

830

1,246

1,661

2,076

2006 2007 2008 2009 Jun-10


Documents

Financial Report PT. Indofood