ANALISIS FINANCIALPT PELINDO III Cabang Tanjung

PerakDan

PT PBM Swasta

Septyan Adi Nugroho - 4108100041

Analisis Financial

• Payback Period method, • Return on investment method (ROI), • Net present value method (NPV),• Index Profitabilitas (IP)

PT PELINDO III (Monopoli)

NO Jenis Besar satuan1 Bunga pinjaman 10% /tahun2 Discount rate 5.75% /tahun3 Modal 3,100,000,000,0004 Pinjaman 1,860,000,000,0005 Ekuitas 1,240,000,000,0006 Tenor 30 tahun7 Angsuran 62,000,000,000 /tahun

Pendapatan Cabang Tanjung Perak 788,905,080,000.00Rp 9 Peningkatan Pendapatan 10% /tahun10 Peningkatan biaya 5% /tahun

DATA AWAL

Payback Period

Terjadi Payback di tahun ke-20

0 1,860,000,000,000 1.0000 (1,860,000,000,000.00) 1 788,905,080,000 62,000,000,000 1,798,000,000,000 186,000,000,000 15,500,000,000 155,000,000,000 2,216,500,000,000 788,905,080,000 0.9456 2,095,981,087,470 746,009,531,915 (1,349,971,555,555.56) (3,209,971,555,555.56) 2 867,795,588,000 62,000,000,000 1,736,000,000,000 179,800,000,000 16,275,000,000 162,750,000,000 2,156,825,000,000 867,795,588,000 0.8942 1,928,653,264,703 775,991,002,465 (1,152,662,262,238.09) (4,362,633,817,793.65) 3 954,575,146,800 62,000,000,000 1,674,000,000,000 173,600,000,000 17,088,750,000 170,887,500,000 2,097,576,250,000 954,575,146,800 0.8456 1,773,685,554,080 807,177,402,091 (966,508,151,988.70) (5,329,141,969,782.35) 4 1,050,032,661,480 62,000,000,000 1,612,000,000,000 167,400,000,000 17,943,187,500 179,431,875,000 2,038,775,062,500 1,050,032,661,480 0.7996 1,630,225,975,028 839,617,155,839 (790,608,819,188.51) (6,119,750,788,970.86) 5 1,155,035,927,628 62,000,000,000 1,550,000,000,000 161,200,000,000 18,840,346,875 188,403,468,750 1,980,443,815,625 1,155,035,927,628 0.7561 1,497,478,673,049 873,360,634,916 (624,118,038,133.88) (6,743,868,827,104.75) 6 1,270,539,520,391 62,000,000,000 1,488,000,000,000 155,000,000,000 19,782,364,219 197,823,642,188 1,922,606,006,406 1,270,539,520,391 0.7150 1,374,700,334,912 908,460,234,900 (466,240,100,012.01) (7,210,108,927,116.75) 7 1,397,593,472,430 62,000,000,000 1,426,000,000,000 148,800,000,000 20,771,482,430 207,714,824,297 1,865,286,306,727 1,397,593,472,430 0.6761 1,261,196,827,743 944,970,457,107 (316,226,370,635.86) (7,526,335,297,752.61) 8 1,537,352,819,673 62,000,000,000 1,364,000,000,000 142,600,000,000 21,810,056,551 218,100,565,512 1,808,510,622,063 1,537,352,819,673 0.6394 1,156,320,048,270 982,947,993,208 (173,372,055,061.93) (7,699,707,352,814.54) 9 1,691,088,101,640 62,000,000,000 1,302,000,000,000 136,400,000,000 22,900,559,379 229,005,593,787 1,752,306,153,166 1,691,088,101,640 0.6046 1,059,464,969,308 1,022,451,813,266 (37,013,156,042.28) (7,736,720,508,856.82)

10 1,860,196,911,804 62,000,000,000 1,240,000,000,000 130,200,000,000 24,045,587,348 240,455,873,477 1,696,701,460,824 1,860,196,911,804 0.5717 970,066,871,338 1,063,543,257,298 93,476,385,959.50 (7,643,244,122,897.31) 11 2,046,216,602,985 62,000,000,000 1,178,000,000,000 124,000,000,000 25,247,866,715 252,478,667,151 1,641,726,533,866 2,046,216,602,985 0.5406 887,598,747,795 1,106,286,130,523 218,687,382,727.63 (7,424,556,740,169.68) 12 2,250,838,263,283 62,000,000,000 1,116,000,000,000 117,800,000,000 26,510,260,051 265,102,600,508 1,587,412,860,559 2,250,838,263,283 0.5113 811,568,873,353 1,150,746,802,435 339,177,929,082.04 (7,085,378,811,087.65) 13 2,475,922,089,611 62,000,000,000 1,054,000,000,000 111,600,000,000 27,835,773,053 278,357,730,533 1,533,793,503,587 2,475,922,089,611 0.4835 741,518,525,158 1,196,994,309,861 455,475,784,702.96 (6,629,903,026,384.69) 14 2,723,514,298,572 62,000,000,000 992,000,000,000 105,400,000,000 29,227,561,706 292,275,617,060 1,480,903,178,766 2,723,514,298,572 0.4572 677,019,847,563 1,245,100,464,158 568,080,616,595.33 (6,061,822,409,789.36) 15 2,995,865,728,430 62,000,000,000 930,000,000,000 99,200,000,000 30,688,939,791 306,889,397,913 1,428,778,337,704 2,995,865,728,430 0.4323 617,673,851,490 1,295,139,962,718 677,466,111,227.72 (5,384,356,298,561.63) 16 3,295,452,301,273 62,000,000,000 868,000,000,000 93,000,000,000 32,223,386,781 322,233,867,809 1,377,457,254,590 3,295,452,301,273 0.4088 563,108,540,108 1,347,190,504,955 784,081,964,847.09 (4,600,274,333,714.54) 17 3,624,997,531,400 62,000,000,000 806,000,000,000 86,800,000,000 33,834,556,120 338,345,561,199 1,326,980,117,319 3,624,997,531,400 0.3866 512,977,152,985 1,401,332,912,955 888,355,759,969.96 (3,711,918,573,744.58) 18 3,987,497,284,540 62,000,000,000 744,000,000,000 80,600,000,000 35,526,283,926 355,262,839,259 1,277,389,123,185 3,987,497,284,540 0.3656 466,956,521,394 1,457,651,256,975 990,694,735,580.86 (2,721,223,838,163.72) 19 4,386,247,012,994 62,000,000,000 682,000,000,000 74,400,000,000 37,302,598,122 373,025,981,222 1,228,728,579,344 4,386,247,012,994 0.3457 424,745,527,850 1,516,232,985,979 1,091,487,458,128.14 (1,629,736,380,035.58) 20 4,824,871,714,293 62,000,000,000 620,000,000,000 68,200,000,000 39,167,728,028 391,677,280,283 1,181,045,008,312 4,824,871,714,293 0.3269 386,063,663,436 1,577,169,063,429 1,191,105,399,993.71 (438,630,980,041.87) 21 5,307,358,885,723 62,000,000,000 558,000,000,000 62,000,000,000 41,126,114,430 411,261,144,297 1,134,387,258,727 5,307,358,885,723 0.3091 350,649,676,806 1,640,554,108,532 1,289,904,431,725.86 851,273,451,683.99 22 5,838,094,774,295 62,000,000,000 496,000,000,000 55,800,000,000 43,182,420,151 431,824,201,512 1,088,806,621,663 5,838,094,774,295 0.2923 318,260,309,193 1,706,486,543,153 1,388,226,233,960.43 2,239,499,685,644.42 23 6,421,904,251,724 62,000,000,000 434,000,000,000 49,600,000,000 45,341,541,159 453,415,411,588 1,044,356,952,747 6,421,904,251,724 0.2764 288,669,110,036 1,775,068,744,651 1,486,399,634,615.60 3,725,899,320,260.02 24 7,064,094,676,897 62,000,000,000 372,000,000,000 43,400,000,000 47,608,618,217 476,086,182,167 1,001,094,800,384 7,064,094,676,897 0.2614 261,665,328,213 1,846,407,204,838 1,584,741,876,625.64 5,310,641,196,885.66 25 7,770,504,144,587 62,000,000,000 310,000,000,000 37,200,000,000 49,989,049,128 499,890,491,276 959,079,540,403 7,770,504,144,587 0.2472 237,052,874,159 1,920,612,695,340 1,683,559,821,180.94 6,994,201,018,066.60 26 8,547,554,559,045 62,000,000,000 248,000,000,000 31,000,000,000 52,488,501,584 524,885,015,839 918,373,517,423 8,547,554,559,045 0.2337 214,649,348,436 1,997,800,439,597 1,783,151,091,160.88 8,777,352,109,227.49 27 9,402,310,014,950 62,000,000,000 186,000,000,000 24,800,000,000 55,112,926,663 551,129,266,631 879,042,193,295 9,402,310,014,950 0.2210 194,285,132,595 2,078,090,291,780 1,883,805,159,184.98 10,661,157,268,412.50 28 10,342,541,016,445 62,000,000,000 124,000,000,000 18,600,000,000 57,868,572,996 578,685,729,963 841,154,302,959 10,342,541,016,445 0.2090 175,802,538,429 2,161,606,922,891 1,985,804,384,462.33 12,646,961,652,874.80 29 11,376,795,118,089 62,000,000,000 62,000,000,000 12,400,000,000 60,762,001,646 607,620,016,461 804,782,018,107 11,376,795,118,089 0.1976 159,055,011,965 2,248,480,014,355 2,089,425,002,390.41 14,736,386,655,265.20 30 12,514,474,629,898 62,000,000,000 0 6,200,000,000 63,800,101,728 638,001,017,284 770,001,119,013 12,514,474,629,898 0.1869 143,906,388,736 2,338,844,459,376 2,194,938,070,640.42 16,931,324,725,905.60

TahunPendapatanPinjaman Awal

Cummulative Cash FlowNett Cash FlowTotal Pendapatan Sekarang

(Rp)Total Biaya Sekarang

(Rp)Faktor

KonversiTotal Manfaat (Rp)Total Biaya (Rp)Pokok PinjamanBiaya (Rp)

Manfaat (Rp)Bunga Pinjaman Biaya Perawatan

Biaya Operasional

1,245,100,464,158 568,080,616,595.33 (6,061,822,409,789.36) 1,295,139,962,718 677,466,111,227.72 (5,384,356,298,561.63) 1,347,190,504,955 784,081,964,847.09 (4,600,274,333,714.54) 1,401,332,912,955 888,355,759,969.96 (3,711,918,573,744.58) 1,457,651,256,975 990,694,735,580.86 (2,721,223,838,163.72) 1,516,232,985,979 1,091,487,458,128.14 (1,629,736,380,035.58) 1,577,169,063,429 1,191,105,399,993.71 (438,630,980,041.87) 1,640,554,108,532 1,289,904,431,725.86 851,273,451,683.99 1,706,486,543,153 1,388,226,233,960.43 2,239,499,685,644.42 1,775,068,744,651 1,486,399,634,615.60 3,725,899,320,260.02

IRR dan Index Profitabilitas

Internal Rate of Return (IRR)Dihitung berdasarkan rasio antara rata-rata annual income dengan total investasi

Index Profitabilitas menunjukkan kemampuan menghasilkan laba suatu proyek per satuan nilai investasi.

Index Profitabilitas

33.68 13.54

Internal Rate of Return (%)

PT ADI PARWA BARUNA SEJAHTERA

No 2011 20121 Pendapatan Jasa 253,174,142,311.00Rp 264,524,797,313.00Rp 2 Pendapatan Operasi Lain 152,409,430.00Rp 280,672,332.00Rp 3 Beban Jasa 196,530,771,840.00Rp 203,805,631,639.00Rp 4 Beban Usaha 14,147,705,466.00Rp 15,756,366,662.00Rp 5 Penurunan Pendapatan 5% /tahun6 Peningkatan Beban Usaha 4% /tahun7 Discount rate 6% /tahun

DATA AWAL (SAAT MONOPOLI)

Saat Monopoli dilakukan

Tahun Pendapatan Pengeluaran Faktor Konversi Total Pendapatan Sekarang Total Pengeluaran Sekarang Nett Cash Flow1 253,326,551,741.00Rp 210,678,477,306.00Rp 1 253,326,551,741.00Rp 210,678,477,306.00Rp 42,648,074,435.00Rp 2 264,805,469,645.00Rp 219,561,998,301.00Rp 0.943396226 249,816,480,797.17Rp 207,133,960,661.32Rp 42,682,520,135.85Rp 3 251,565,196,162.75Rp 228,344,478,233.04Rp 0.88999644 223,892,129,016.33Rp 203,225,772,724.32Rp 20,666,356,292.02Rp 4 238,986,936,354.61Rp 237,478,257,362.36Rp 0.839619283 200,658,040,156.15Rp 199,391,324,182.35Rp 1,266,715,973.80Rp 5 227,037,589,536.88Rp 246,977,387,656.86Rp 0.792093663 179,835,035,989.00Rp 195,629,223,726.08Rp (15,794,187,737.08)Rp 6 215,685,710,060.04Rp 256,856,483,163.13Rp 0.747258173 161,172,909,612.78Rp 191,938,106,297.28Rp (30,765,196,684.50)Rp

Nett Cash Flow42,648,074,435.00Rp 42,682,520,135.85Rp 20,666,356,292.02Rp

1,266,715,973.80Rp (15,794,187,737.08)Rp (30,765,196,684.50)Rp

Mengalami net cash flow minus ditahun ke 5 yang artinya PBM ini akan bangkrut ditahun ke 5 saat monopoli dilakukan

Saat tidak terjadi monopoli

No 2011 20121 Pendapatan Jasa 253,174,142,311.00Rp 264,524,797,313.00Rp 2 Pendapatan Operasi Lain 152,409,430.00Rp 280,672,332.00Rp 3 Beban Jasa 196,530,771,840.00Rp 203,805,631,639.00Rp 4 Beban Usaha 14,147,705,466.00Rp 15,756,366,662.00Rp 5 Peningkatan Pendapatan 5% /tahun6 Peningkatan Beban Usaha 4% /tahun7 Discount rate 6% /tahun

DATA AWAL

Nett Cash flow PT ADIPARWA BARUNA SEJAHTERA ini tidak terjadi minus, justru meningkat di tiap tahunnya.

Tahun Pendapatan Pengeluaran Faktor Konversi Total Pendapatan Sekarang Total Pengeluaran Sekarang Nett Cash Flow1 253,326,551,741.00Rp 210,678,477,306.00Rp 1 253,326,551,741.00Rp 210,678,477,306.00Rp 42,648,074,435.00Rp 2 264,805,469,645.00Rp 219,561,998,301.00Rp 0.943396226 249,816,480,797.17Rp 207,133,960,661.32Rp 42,682,520,135.85Rp 3 278,045,743,127.25Rp 228,344,478,233.04Rp 0.88999644 247,459,721,544.37Rp 203,225,772,724.32Rp 44,233,948,820.05Rp 4 291,948,030,283.61Rp 237,478,257,362.36Rp 0.839619283 245,125,195,869.42Rp 199,391,324,182.35Rp 45,733,871,687.07Rp 5 306,545,431,797.79Rp 246,977,387,656.86Rp 0.792093663 242,812,694,021.60Rp 195,629,223,726.08Rp 47,183,470,295.52Rp 6 321,872,703,387.68Rp 256,856,483,163.13Rp 0.747258173 240,522,008,228.94Rp 191,938,106,297.28Rp 48,583,901,931.66Rp 7 337,966,338,557.07Rp 267,130,742,489.66Rp 0.70496054 238,252,932,679.61Rp 188,316,632,593.56Rp 49,936,300,086.05Rp 8 354,864,655,484.92Rp 277,815,972,189.24Rp 0.665057114 236,005,263,503.39Rp 184,763,488,582.36Rp 51,241,774,921.03Rp 9 372,607,888,259.17Rp 288,928,611,076.81Rp 0.627412371 233,778,798,753.35Rp 181,277,385,024.20Rp 52,501,413,729.15Rp 10 391,238,282,672.13Rp 300,485,755,519.88Rp 0.591898464 231,573,338,387.76Rp 177,857,057,004.88Rp 53,716,281,382.88Rp 11 410,800,196,805.73Rp 312,505,185,740.68Rp 0.558394777 229,388,684,252.02Rp 174,501,263,476.48Rp 54,887,420,775.54Rp 12 431,340,206,646.02Rp 325,005,393,170.31Rp 0.526787525 227,224,640,060.97Rp 171,208,786,807.12Rp 56,015,853,253.85Rp 13 452,907,216,978.32Rp 338,005,608,897.12Rp 0.496969364 225,081,011,381.15Rp 167,978,432,339.06Rp 57,102,579,042.09Rp 14 475,552,577,827.23Rp 351,525,833,253.00Rp 0.468839022 222,957,605,613.40Rp 164,809,027,955.30Rp 58,148,577,658.10Rp 15 499,330,206,718.60Rp 365,586,866,583.12Rp 0.442300964 220,854,231,975.54Rp 161,699,423,654.26Rp 59,154,808,321.28Rp 16 524,296,717,054.53Rp 380,210,341,246.45Rp 0.417265061 218,770,701,485.20Rp 158,648,491,132.48Rp 60,122,210,352.72Rp 17 550,511,552,907.25Rp 395,418,754,896.31Rp 0.393646284 216,706,826,942.89Rp 155,655,123,375.26Rp 61,051,703,567.62Rp 18 578,037,130,552.61Rp 411,235,505,092.16Rp 0.371364419 214,662,422,915.13Rp 152,718,234,254.98Rp 61,944,188,660.15Rp 19 606,938,987,080.25Rp 427,684,925,295.85Rp 0.350343791 212,637,305,717.81Rp 149,836,758,136.96Rp 62,800,547,580.86Rp 20 637,285,936,434.26Rp 444,792,322,307.68Rp 0.33051301 210,631,293,399.72Rp 147,009,649,492.86Rp 63,621,643,906.86Rp

Nett Cash Flow42,648,074,435.00Rp 42,682,520,135.85Rp 44,233,948,820.05Rp 45,733,871,687.07Rp 47,183,470,295.52Rp 48,583,901,931.66Rp 49,936,300,086.05Rp 51,241,774,921.03Rp 52,501,413,729.15Rp 53,716,281,382.88Rp 54,887,420,775.54Rp 56,015,853,253.85Rp 57,102,579,042.09Rp 58,148,577,658.10Rp 59,154,808,321.28Rp 60,122,210,352.72Rp 61,051,703,567.62Rp 61,944,188,660.15Rp 62,800,547,580.86Rp 63,621,643,906.86Rp

KESIMPULAN

• Kebijakan monopoli perusahaan BM ini merugikan pihak swasta

• Investasi yang dilakukan Pelindo layak namun tidak terlalu menguntungkan