lG GARAM Tbk DAN ANAK PERUSAHAANI PT GUDANG...

Siddharta amp Widjaja Registered Public Accountants

PT GUDAIlG GARAM Tbk DAN ANAK PERUSAHAANI PT GUDANG GARAM Tbk AND SUBSIDIARIES

LAPORAN KEUANGAN KONSOLIDASII CONSOLIDATED FINANCIAL STATEMENTS

TAHUN BERAKHIR 31 DESEMBER 2010 DAN 20091 YEARS ENDED 31 DECEMBER 2010 AND 2009

PT GUDAtlG GARAM Tbk DAN ANAK PERUSAHAANI PT GUDANG GARAM TbkAND SUBSIDIARIES

LAPORklt KEUANGAN KONSOLIDASlCONSOLlDATED FINANCIAL STATEMENTS TARUN BERAKHIR 31 DESEMBER 2010 DAN 20091YEARS ENDED 31 DECEMBER 2010 AND 2009

ISIfCONTENTS HaiamaniPage

LAPORAN AUDITOR INDEPENDENIINDEPENDENT AUDITORS REPORT 1-2

NERACA KONSOLIDASIICONSOLlDATED BALANCE SHEETS 31 DESEMBER 2010 DAN 2009131 DECEMBER 2010 AND 2009 3 - 4

LAPORAN LABA RUG KONSOLIDASICONSOLlDATED STATEMENTS OF INCOME TAHUN BERAKHIR 31 DESEMBER 2010 DAN 20091 YEARS ENDED 31 DECEMBER 2010 AND 2009 5

LAPORAN PERUBAHAN EKUITAS KONSOLIDASJI CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS EQUITY TAHUNBERAKHIR31 DESEMBER2010DAN 20091 YEARS ENDED 31 DECEMBER 2010 AND 2009 6

LAPORAN ARUS KAS KONSOLIDASIICONSOLIDATED STATEMENTS OF CASH FLOWS TARUNBERAKHIR31 DESEMBER2010DAN 20091 YEARS ENDED 31 DECEMBER 2010 AND 2009 7

CATATAN ATAS LAPORANKEUANGANKONSOLIDASII NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS TARUN BERAKHIR31 DESEMBER2010DAN 20091 YEARS ENDED 31 DECEMBER 2010 AND 2009 8 - 46

PT Gudang Garam Tbk

Siddharta ampWidjaja Registered Public Accountants 33rd Floor Wisma GKBI 28 L Jend Sudirman Jakarta 10210 ndonesla

Laporan Auditor Independen

No 110 - 1052 - llIlIlnOOI

Para Pemegang Saham Dewan Komisaris dan Direksi PT Gudang Garam 10k

Kami telah mengaudit neraca konsolidasi PT Gudang Garam 10k (Perseroo) dan aoak perusallaan tnggal 31 Desember 2010 dan 2009 serta Iporan laba rugi konsolidasi laporan perubahan ekuitas konsolidasi dan Iporan arus kss konsolidasi untuk tahun yang berakhir pada tanggal-tanggal tersebut Lporan keungn konsolidasi adalah tanggungjawb manajemen Pelseroan Tanggungjawab kami terletak pada peruyatbullbulln pendapat atas laporan keuangan konsolidasi berdasarkan audit kami

Kami melaksanakan audit berdsarkan slandar auditing yang ditetapkan Institut Akuntan Publik Indonesia Standar tersehut mengharuskan kami merencanakan dan melaksanakan audit agar karni memperoleh keyakinan memadai bhwa Iaporan keuangan bebs dari salah saji materiaL Suoto audit meliputi pcmeriksaan atas dasar pengujian bukli-bukti yang mendukung jumlah-jumiah dan pengungkapan dalam laporan keungan Audit juga meliputi penilaian atas prinsip akuntansi yang digunakan dan eslimasi signiflkan yang dibuat oleh rrlanajemen serta penilaian terhadap penyajian laporan Ilaquomangan secora keseluruhan Kami yakin bahwa audit kanri memberiksn dasar memadai untuk menyatakan pendapt

Telephone +62 (0) 21 574 2333 +62 10) 21 574 2888

Fex +62 10) 21 574 1777 +62 10) 21 5742777

IndependeJl Auditors Report

No L10-1052-111128001

The Shareholders Board ofCommissioners and Directors

PT Gudang Garam Tbk

We have audited the consolidated balance sheets of PT Gudang Garam Tbk (the Company) and subsidiaries as of31 December 2010 and 2009 and the related consolidated statements ofincome changes in shareholders equity and cash flows for the years then ended These consolidated financial statements are the responsibility ofthe Companys management Our reponsibility is to express an opinion on these consolidated financial statements based on our audits

We conducted our audits in accordance with auditing standards established by the Indonesian Institute of Certified Public Accountants Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statemellts are free ofmaterial misstatement An audit includes examining on a test basis evidence supporting the amounts and disclosures in the financial statements An audit also includes assessing the accounting principles used and significant estimates made by management as well as evaluating the overall financial statement presentation We believe that ow audits pravide a reasonable basis for our opinion

PT GdalJg Garam Tbk

Siddharta ampWldjllja Rlgittored PubliC AccomtaillS w

a Irdon~lan Pllrtneropald a mambe~ i-m 01 [e ltPMG lework 0 iltmpotldont InfIrnter firfO$ ~ffil atlo wi1h ICfMG InterrntionaI e Swrgtl OOptiltt(r1 license No 437IKM12009

I

Menurut pendapat karni laporan kellangan konso1idasi yang kami scbut di atas menyajikan secara wajar dalam semua hal yang material posis keuangan PT Gudang Garam Tbk dan anak perusahaan tanggal 31 Desember 2010 dan 2009 dan hasil usaha serta arus kas mereka untuk tahun yang berakhir pada tanggal-tangga1 tersebut sesuai dengan prinsip akuntansi yang berlaku urnurn di Indonesia

In ou opinion the consolidated financial statements referred to above present fairly in all material respects the financial position ofPT Gudang Garam Tbk and subsidiaries as of31 December 2010 and 2009 and the resulls oftheir operations and their cash fiows for the years then ended in conformity with accounting principles generally accepted in Indonesia

Siddharta amp Widjaja

Kantor Akuntan PubliklRegislered Public Accountants

Karlika Singodimejo SE CPA

Izin Akuntan PubIiklPublic Accountant License No 00I075 7

Jakarta 28 Maret 2()1 r

Laporan keuangan kQlSolidasi lerlampir tidallt dimaksudkan untuk menyajikan posisi keuanganJ hasil usaha dan arus kas kansalidas sesua dengan prinsip dan praktek akuntansi yang berlaku umum di gam dan wUayan hukum selain Indonesia Standar pro~edur dan praktek untuk mengaudit laporan keuangan konclidasi terScbut adalah yang berlaku umum dan diterapkan di Indonesia

Jakarta 28 March 2011

Tile accompanying consolidatedfinanCial statements are not intended to present the consolidated fmancial position results ofoperatlolls and CltlSi lows ill accordance with accowlting principles and praccices generally accepted lit cormlries alldjurisdictiolls other than lndolesta lYe stafldards procedures and practices to audit such cOllsolidatedfinancial statements are those generaily accepted and applied in Indonesia

PT Gudang Garam Thk 2

PT GUDANG GARAM Tbk DAN ANAK PERUSAHAANI PT GUDANG GARAM Tbk AND SUBSIDIARIES

NERACA KONSOLIDASIICONSOLlDATED BALANCE SHEETS 31 DESEMBER 2010 DAN 2009131 DECEMBER 2010 AND 2009

(Dalamjutaan rupiah keeuali dinyatakan khususlln millions arupiah unless otherwise specified)

Catatani ASET Notes 2010

ASETLANCAR KAS DAN SETARA KAS 2a~3 1249249 PIUTANG CSAHA 4

Pihak ketiga 882546 Pihak yang mempunyai hubungan istirnewa 21193

PIUTANG LAIN-LAIN 5 11265 PERSEDlAAN 2d6 20174168 PAJAK DIBAY AR DIMUKA 7 109593 BIAYA DIBA Y AR DlMUKA 2b 310489 ASET LANCAR LAIN-LAIN 830 149790

JUMLAH ASET LANCAR _~908~~

ASET TIDAK LANCAR INVESTASI PADA PERUSAHAAJi

ASOSIASI 2f 9271 ASETTETAP

Setelah dikurangi akumulasi penyusutan sebesar Rp 5907723 juta pad tabun 2010 dan Rp 5111540 jut pad tahun 2009 2g9 7406632

GOODWILL Setelah dikurangi akumulasi amortisasi sebesr Rp 6 t 77 juta pada tabun 2010 dan Rp 4942 juta pada tahun 2009 2i

ASET PAJAK TANGGUHAN bersib 21lt13 6083 ASET TillAK LANCAR LAIN-LAIN 2hIO30 411400

JUMLAH ASET TIDAK LANCAR _8~3386

JUMLAHASET 30741679

Libat Cattan at Lapran Keuangan Knslidasi yang merupakan bagian tnk terpisahkan dari laporan keuangan

2009 ASSETS

CURRENTASSETS 1222B97 CASH AND CASH EQUIVALENTS

TRADE RECEIVABLES 977092 Third parties

36281 Related parties 25585 OTHER RECEIVABLES

16853310 INVENTORIES 39229 PREPAID TAXES

192442 PREPAID EXPENSES 237697 OTHER CURRENT ASSETS

-92~~2~_ TOTAL CURRENT ASSETS

NONmiddotCURRENT ASSETS

9271 INVESTMENT IN ASSOCIATED COMPANY FIXED ASSETS

Net ofaccumulated depreciation ofRp 5907723 million in 2010

and Rp 5111540 million 7019464 2009

GOODWIll Net ofaccumulated amortization of

Rp 61 77 million In 2010 and 1135 Rp 4942 million in 2009 3118 DEFERRED TAX ASSETS net

613344 OTHER NON-CURRENT ASSETS ~~46432 TOTAL NONmiddotCURRENT ASSETS

27230965 TOTAL ASSETS

See Notes to the Consoliiae Financial Statements which form all integralpart oftJeseflllfJllciai statemellts

PT Gudang Garal Tbk 3


NERACA KONSOLIDASIJCONSOLIDATED BALANCE SHEETS 31 DESEMBER 2010 DAN 2009131 DECEMBER 2010 AND 2009

(Da1amjutaan rupiah kecuali dinyatakan khususlIn millions arupiah unless otherwise specified)

KEWAJIBAN DAN EKIDTAS

KEWAJIBAN LANCAR pmJAMANJANGKAPENDEK HUTANG USAHA

Pihak ketiga Pihak yang mempunyai hubungan istimewa

HUTANG PAJAK HUTANG CUKAJ DAN PPN ROKOK BEBAN MASIH HARUS DIBA Y AR KEWAJIBAN LANCAR LAm-LAm

JUMLAH KEWAJIBAN LANCAR

KEWAJIBAN TIDAK LANCAR

KEWAJIBAN IMBALAN PASCA-KERJA KEWAJIBAN PAJAK TANGGUHAN bersih

JUMLAH KEWAJIBAN TIDAK LANCAR

HAK MmORITAS

EKUITAS MODAL SAHAM nilai nominal

Rp 500 (rupiah penuh) per saham Modal dasar

2316000000 saharn Modal ditempatkan dan disetor penuh

924088000 saham AGIOSAHAM SALDOLABA

Dicadangkan Belum dicadangkan JUMLAH EKUITAS

JUMLAH KEWAJIBAN DANEKUITAS

Catatanl Notes

11 12

2k13 14 15 16

2017 2k13

2b

118 19

20

2010

2683654

343062 31986

161323 4962877

51678 247353

_~481 933_

644008 295462

939470

123114

962044 53700

200000 19981418

21197162

30741679

2009

3182762

290517 32264

187952 4028717

114034 125033

___7J~79

566210 320935

887145

____81004

962044 53700

200000 17085793

_J_830537

27230965

LIABILITIES AND SHAREHOLDERS EQUITY

CURRENT LIABILITIES SHORT-TERM LOANS

TRADE PAYABLES Third parties

Related parties TAXES PAYABLE

EXCISE DUTYAND VAT PAYABLES ACCRUED EXPENSES

OTHER CURRENT LIABILITIES TOTAL CURRENT LIABILITIES

NON-CURRENT LIABILITIES OBLIGATION FOR POST-EMPLOYMENT

BENEFITS DEFERRED TAX LIABILITIES net

TOTAL NON-CURRENT LIABILITIES

MINORITY INTEREST

SHAREHOLDERS EQUITY SHARE CAPITAL par value of

Rp 500 (whole rupiah) per share Authorized capital

2316000000 shares Issued and paid-up capital

1924088000 shares CAPITAL PAID IN EXCESS OF PAR

RETAINED EARNINGS Appropriated

Unappropriated

TOTAL SHAREHOLDERS EQUITY

TOTAL LIABILITIES AND SHAREHOLDERS EQUITY

Lihat Catatan atas Laporan Keuangan Konsolidasi yang merupakan See Notes to the Consolidated Financial Statements which bagian tak terpisahkan dari laporan keuangan form an integralpart ofthesejinallcial statements

PT Gudang Garam Tbk 4

PT GUDANG GARAM Tbk DAN ANAK PERUSAHAAN PT GUDANG GARAM TbkAND SUBSIDIARIES

LAPORAN LABA RUGI KONSOlJDASIfCONSOUDATED STATEMENTS OF INCOME TAHUN BERAKHIR 31 DESEMBER 2010 DAN 20091YEARS ENDED 31 DECEMBER 2010 AND 2009

(Dalamjutaan rupiah kecuaJi dinyatakan khususlln millions ofrupiah unless otherwise specified)

PENJUALAIIPENDAPAT AN USAHA BEBAN POKOK PEIJUALAN

LABAKOTOR

BEBAN USAHA Behan pcnjuatan Beban umum dan administrasi

LABA IJSAHA

PENGHASlLAN (BEBAN) LAIN-LAIN (Rugi) laba penjualan aset tetap Pendapatan bunga Beban bunga Rugi kurs bersih Lailmya bersih

Bagian rugi perusahaan asosiasi

LABA SEBELUM PAJAK

BEBAN PAJAK Pajak kini Pajak tangguhan

LABA SEBELUM HAK MINORITAS HAKMlNORITASATAS

LABA BERSIH ANAK PERUSAHAAN

LABABERSIH

Lab per saham (dalam rupiah penuh) Laba usaha Laba bersih

Catatan Nates

2e21 2d22

23 24

9

2j

2f

2k13

2b

2125

2010

37691997 (28826410)

8865587

(1833402) (1174324)

(3007726)

5857861

(1627) 32089

(238285) (10157)

(8585)

(226565)

5631296

(1444945) 28438

(1416507)

4214789

3044 2155

2009

32973080 (25807564)

7165516

(1030558) (928121)

(1958679)

5206837

15387 96253

(445230) (40677) (3817)

(378084)

(540)

4828213

(1421241) 78929

(1342312)

3485901

2706 1796

SALESOPERATING REVENUE C05TOFSALES GROSS PROFIT

OPERATING EXPENSES Selling expenses

General and administrative expenses

OPERATING PROFIT

OTHER INCOME (EXPENSES) (Loss) gain all sale affIXed assets

Interest income Interest expense

Foreign exchange loss net Miscellaneous net

Shares ill loss ofassociated cOlllpau

PROFIT BEFORE TAX

INCOME TAX EXPENSE Current

Deferred

PROFIT BEFORE MINORITY INTEREST MINORITY INTEREST IN

SUBSIDIARIES NET PROFIT NETPROFIT

Earllings per sllare (ill wllole rupiah) Operatingprofit

Netprofit

Lihat Catatan abs Laporan Keuangan Konsolidasi yang merupakan See Notes to the COJlSoitlated Financial Statements which bagian tak terpisahkau dari laporan keuangan form (lit illtegral part afthese jiuallcial statemeJ1ts

PT Gudang Gara Tbk

PT GUDANG GARAM Tbk DAN ANAK PERUSAHAANI PT GUDANG GARAM Tbk AND SUBSmIARIES

LAPORAN PERUBAHAN EKUITAS KONSOLIDASII CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS EQUITY

TAHUN BERAKHIR 31 DESEMBER 2010 DA12009IYEARS ENDED 31 DECEMBER 2010 AND 2009 (Dalamjutaan rupiah kecuali dinyatakan khususl1n millions ojrupiah unless otherwise specified)

Modal

Agio sahAml Capital Saki labaRetained eamings

Jumffih clruitas

Catatanl Note

sahaml Share capilol

pafdm excess of

par Diewngkaw Appropriated

Belum Dicadangknn

Unappropriated

Toral shareholders

equiiy

SaldoJl Desember2008 962044 53700 200000 14303522 15519266 Balc1Jl~eGS qf

31 DecembID- 2008

Laba bersih lahun 2009 3455702 3455702 Net profit in 2009

Divideu xu 26 (673431) (673431) cruh dividends

Balance as of Saldo 31 Desember 2009 962044 53700 200000 t 7085193 18301537 31 December 2009

Labs bersih tallim 2010 4146282 4146282 Netprofit hi 2010

Divide kUl 26 (1250657) (1250657) Casli dividends

Balance as of Saldo 31 Desembcr 2010 962044 53700 191981418 21197162 31 December 200

Libat Catatan atas Laporan Kenangan Konsolidasi yang merupakan See Notes to the COllsolldated Financial StaumenJs which bagian tak terpisahkan dari laporan keuangan form an integral part ofthese fillancial statemellts



LAPORAN ARUS KAS KONSOLIDASVCONSOLIDATED STATEMENTS OF CASH FLOWS TAHUN BERAKHIR 31 DESEMBER 2010 DAN 20091YEARS ENDED 31 DECEMBER 2010 AND 2009

(Dalamjutaan rupiah kecuali dinyatakan khususlln millions ofrupiah unless otherwise specifiecfJ

2010 2009

ARUS KAS DAR AKTIVITAS OPERASI Penerimaan kas daTi pelanggan Pembayaran kas kepada pemasok dan karyawan

Kas dihasilkan daTi operasi Penerimaan bunga Pembayaran bunga Pembayaran pajak penghasilan badan

Kas bersih diperoleh dari aktivitas operasi

ARUS KAS DARI AKTIVITAS INVESTASI Perolehan aset tetap Hasil penjualan aset tetap

Kas bersih digunakan untuk aktivitas investasi

ARUS KAS DAR AKTIVITAS PENDANAAN Penerimaan daTi pinjamanjangka pendek Pembayaran pinjamanjangka pendek Pembayaran dividen kas Penyetoran modal saham anak perusahaan oleh

pemegang saham minoritas Kas bersih digunakan untuk aktivitas

pendanaan

Rugi kurs atas kas dan setara kas

Kenaikan bersih kas dan setara kas Kas dan setara kas awal tabun Kas dan setara kas akhir tabun

37800119 (33211596)

4588523 _ 32089

(261091) (1486923)

___~_~3~~

(1097169) 2972

__Q_~~~271

4129753 (4628861) (1250657)

3801

___(1c745964)

___J~Q~)_

26352 1222897

1249249

34040270 (29040514)

4999756 96253

(466622) (1364186)

_32~29L

(1404742) 17488

_J0872plusmn2

2000000 (3149161)

(673431)

50800

_Q771792)

___Q_~~4)

88071 1134826

1222897

CASH FLOWS FROM OPERATING ACTIVITIES

Cash received from customers Cash paid to suppliers and employees

Cash provided by operations Receipts ofinterest

Payments ofinterest Payments ofcorporate income tax

Net cash provided by operating activities

CASH FLOWS FROM INVESTING ACTIVITIES

Acquisition offued assets Proceeds from sale offued assets

Net cash lIsell in investing activities

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from short-term loans Repayments ofshort-term loalls

Payments ofcash dividends Subsidiarys capital contribution by the

minority shareholders Net cash used in finallcillg

activities

Foreign exchange loss 011 cash and cash equivalents

Net increase in cash and cash equivalelJts Cash alld cash equivalents beginning ofyear

Cash and cash equivalents end ofyear

Lihat Catatan atas Laporan Keuangan Konsolidasi yang merupakan See Notes to the Consolidated Financial Statements bagian tak terpisabkan dari laporan keuangan which form all integral part ofthese financial statements


PT GUDAtlG GARAM Tbk DAN AI~AK PERUSAHAANf PT GUDANG GARAM Tbk AND SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIINOTES TO THE CONSOUDATED FINANCIAL STATEMENTS TAHUN BERAKHIR 31 DESEMBER 201 Q DAN 2Q091YEARS ENDED 31 DECEMBER 2010 AND 2009

(Dalamjutaan rupiah kecuali dinyatakan khususlln millions ojrupiah unless otherwise specified)

1 UMUM 1 GENERAL

PT Gudang Garum Thk (Pemeroan) yang semula bemama PT Perushan Rokok Tjap Gudang Garum Kediri (PT Gudang Garam) didirikan dengan akte Suroso SH wakil notaris sementara di Kediri tanggal 30 Jooi 1971 No 10 diubah dengan akte notaris yang sarna tanggal 13 Oktober 1971 No 13 akte~akte ini disetujui oleh Menteri Kehakiman dengan No JA5119717 tanggal 17 Nopember 1971

didaftarkan di Pengadilan Negeri Kediri dengan No 3111971 dan No 321971 tangga126 Nopember 1971 dan diumumkan dalarn Tambahan No 586 pada Berita Negara No 104 ranggal 28 Deember 1971

Perseroan rnerupakan kelanjutan dari Perusahaan Perorangan yang didirikan rahun 1958 Pada labun 1969 berubah status menjadi Firma dan pada tahun 197] menjadi Perseroan Terbatas Operasi komersial dimulai tahun 1958

Anggaran Dasar Perseroan telah mengalami beberapa kali perubahan Perubahan terakhir dilakukan dengan akte notaris Dyab Ambarwaty Setyoso SH tanggal 18 Desember 2008 -1027 untuk memenubi ketentuan Undang-Undang No 402007 tentang Perseroan Terhatas

Perseroan berdomisili di Indonesia dengan Kantor Pusal di JI Semarnpif IIfI Kedjri~ Jana Tirnuf) serta rnemiliki pabrik yang berlokasi di Kediri dan Gempo Perseroan juga memiliki Kantor-kantor Perwakilan yaitu Kantor Penvakilan Jakarta di JI Jenderal A Yon 79 Jakana dan Kantor Perwakilan Surabaya di J1 Pengena 7 - 15 Surabaya Jawa Timur

Sesuai dengan pasal 3 Anggaran Dasarnya Perseroan bergerak di bidang industr rokok dan yang torkait dengan industri rokok

Mayoritas saham Perseroan dirniliki secara langsung maupun tdak langsung oleh keluarga Wonowidjojo yang juga memiliki seeara langsung maupun tidak langsung~ beberapa perusahaan di Indonesia dan luar negerL

PT Gudang Garam Tbk (Ihe Company) prevwusly named as PT Perusahaan Rokok Tjap Gudang Garam Kedir (PT Gudang Garam) was established by deed of Mr Suroso SH acting nOlary public in Kediri dated 30 June 1971 No 10 amended by deed of the same notmy dated 13 Ocobel 1971 No J3 these deeds were approved by the Minister 0Justice under No JA5119717 on 17 November 1971 regiJlered at Ihe Kedr Court ofJustice under No 3111971 and No 3211971 On

26 November 1971 and published in Supplement No 586 10

State Gazetle No 104 of28 December 1971

The Company is a continuation ofa Proprietorship which was established in 1958 In 1969 the Company changed its legal status to a Partnership and in 1971 it wasfitrlher changed its existing legal entity as a Limited Liability Company Commercial operation was commenced in 1958

The Companys Articles of Association have been amended several times The latest amendment was effected by deed of notarypublic Dyah Ambarwaty Setyoso SI1 dated 18 December 2008 No 27 to comply with the provisions of Company Law No 4012007

The Company is an Indonesian domiciled company with its Head Office at J Sernampr IIJI Kedri Easl Java and its plants are located in Kadiri alld Gempol The Company also has representative offices which are Jakarta Represenlalive Office a1 JL Jenderal A Yani 79 Jakarta and Surabaya Representative Office al J Pengenai 7 15 SUlabaya Easl Java

In accordance with article 3 of its Articles ofAssociation the Company is engaged in cigarette induslJy and other related cigarette industry activities

The majority ofthe Companys shares are owned directly and indirectly by Wonowidjojo family who also owns directly and indirecty several companies in Indonesia and ot)ler countries



CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIINOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS TAflUN BERAKHIR 31 DESEMBER 2010 DAN 20091YEARS ENDED 31 DECEMBER 20 I0 AND 2009

(Dalamjutaan rupiah) kecuali dinyatakan khususlln millions ofrupiah unless otherwise specified)

1 UlUB1 (Lanjutan) 1 GENERAL (Continlled)

Dengan izin Menleri Keuangan No SJ-126SHMI KMKl 01 1990 langgal 17 Juli 1990 Perseroan lelah melakukan penawaran umum kepada masyarakat melalui pasar modal sejumlah 57807800 saham dengan nomlna1 Rp 1000 (rupiah penuh) per saham

Dengan sural PT Bursa Efek Surabaya No 372Dshy1291BESIVlII190 tanggal 21 Aguslus 1990 le1ah disetujui untuk diealalkon di Bursa Efek 8urabaya (BES) sebanyak 96204AOO aham Perseroan sejak 27 Agustu 1990 Dengan surat PT Bursa Eick Jakarta No S-204IBEJNI92 tanggal 24 Juni 1992 telah disetujui untuk dicatalkan di Bursa Rfek Jakarta (UBEf) sejumlah saham yang sarna Dengan sural PT Bursa Efek Surabaya No 48IEMTILISTIBESlVI94 tanggal 26 Mei 1994 dan sural PT Bursa Efak Jakarta No Sshy3591BEJl1N11994 tanggal 27 Mei 1994 telah dieatalkan lagi seJumlah 384817600 sham PerserQan di kedua Bursa tersebut sehingga seluruh saham Perseroan yang berooar saat itu tc1ah dicattkan yaitu 481022000 saham

Dalam tahun 1996 telah dilakukan pemecahan nilai nominal saham (stock split) dari Rp 1000 (rupiah penuh) menjadi Rp 500 (rupiah penuh) per saham dan pengcluaran satu saham bonus unluk setiap saham yang beredar sehingga jumlah saham beredar bertambah dari 481022000 menjadi 924088000 Dengan surat PT Bursa Efek Jakarta No Sshy039lBEJI210596 langgal 24 Me 1996 dan sural PT Bursa Efek Surabaya No 31IE1TLISTBESNI96 tanggal 27 Mei 1996 seluruh saham Perseroan yang beredar yaitu sebanyak 1924088000 saham telah dicatatkan di kedua Bursa tersebut

Terhitung sejak langgal30 Nopember 2007 BES lelah efeklif digabung ke dalam BEJ dan selanjutnya BEJ berubah nama menjadi PT Bursa Efck Indonesia

Sesuai dengan surat PT Bursa Efuk Surabaya No JKTshy026ILIST-EMITENfBESIXI12007 tanggal 30 Nopember 2007 sabam Perseroan yang sebeJumnya tercatat di BES dan BEl sebanyak 1924088000 saham cfektif tereatat dan diperdagangkan di Bursa Efek Indonesia terbitung sejak tanggal3 Desember 2007

By Minisler of Finance license No SI1261SHMIKMKIOI199Q dilled 17 July 1990 the Company has publicly offered Ihrough the capital market its 57807800 shares at par value of Rp 1000 (whole rupiah) per share

By a letler from PT Bursa Efek Surbaya No 372Dshyi291BESlVIIl190 daled 21 August 1990 96204400 of Ihe Companys shares have been agreed to be listed in the Surabaya Stock Exchange (BES) since 27 August 1990 Bya leiter from PT Bursa Efek Jakarta No S-204IBEJIVI192 dated 24 June 1992 the same number ofshares have been agreed to be listed in the Jakarta Siock Exchange (BEJ) By a leller from PT Bursa Efck Surabaya No 481EMTIUSTIBESlVI94 dated 26 May 1994 and a leiter from PTBWsa Efek Jakarta No S-3591BEJllIVI1994 dated 27 May 1994 an additional 384817600 shares were listed in both Stock Exchanges accordingly all of the Companys issued shares at that lime ie 481022000 shares have been listed

In 1996 the par value of the shares has been split (slock split) from Rp 1000 (whole rupiah) 10 Rp 500 (whole rupiah) per share and a one-for-one bonus share has been distributed consequently the number o[outstanding shares increased from 481022000 to 1924088000 By a letter from PT Bursa Efek Jakarta No S-039BEJL210596 dOled 24 May 1996 and a letter from PTBursa Efek Surabaya No 3I1EMTfLfSTIBESlV196 dated 27 May 1996 all of the Companys issued shares ie 1924088000 shares have been fisted in both Stock Exchanges

As of30 November 2007 BES has effectively been merged illto BEl and BEJ subsequently changed its name to PT Bursa Efek Indonesia

Based on a letter from PTBursa Efek Surabaya No JKTshy026LIST-EMITENIBESlXJ2007 dated 30 November 2007 the Companys shares 1924088000 shares which were previously listed in BES and BEJ are listed and traded in Bursa Efek Indonesia startingfrom 3 December 2007



CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIINOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS TAHUN BERAKHIR 31 DESEMBER 2010 DAN 20091YEARS ENDED 31 DECEMBER 2010 AND 2009

(Dalamjutaan rupiah keeuali dinyatakan khususlln millions ofnlpiah unless otherwise specified)

_--shy

1 DMUM (Lanjutan) 1 GENERAL (Continued)

Perseroan memiliki kepemilikan seeara langsung dan tidak langsung pada anak-anak perusahaan sebagai berikut

NAlIla perusallaanl ComP(lIIY fwme

Allllua Kesiatan ulllmal

Kcpelllilibn iaOgstlLlg DirlXdy-oIWIf

PT Surya Pllmenang JI Raya Kediri Ke1osono K11 7 desa Ngebrak Kedin

fnduslrl itkiltsltraquo

kertasroper

PT Surya Madislriudo 11 Jend A Vani No 79 Jakarta

Perdaganganl Trading

PT Grahn Surya Media JJ Serrompir WI Kedid Jasa hiburanl Enr(lrtainmenr services

PTSuryaM n Se~an KKO Usman No 27 Kedlri

JaswScrvicl~

Kepenulikan tidak langlIIllg melawi Indirecrly-olVueJ rllfQgh PT Surya Madislriudo

PT SmyOl Ayarrmus PeOOlSll Jt KL YosSwJarro Km 78 Tanjung Mulill MedlUl

PetrlagangaN Tr(J(lillg

PT Surya Andalas Perkasu J1 Ujnng Tunal No 1 Lubuk Begatuug Padang

Perotlgangan TradIng

PT Swya Babel rerka~ JL Melinlt1lflonlweu Nu 38 RT 01 RW 01 Kel Bintang Pangka Pinang Bnttgka

PerdagangaN Tramng

PT Surya Celebes Perkasu JI Galangln Kaptll Nn 5 UjUllg Pnttdung

Perdagangan Tra([ing

PT Suf)a fndo KhatuHstiwa 11 Pahlawan No 2J~25 KeL Bellon Melayraquo Dann Pondanak

Perdagangml Trading

PT Sllrya Kaltilll Pukasa JL Ir Sutruni Dlok 1 No3 RT 34 Komplek Pctgudansan Snmarinda

Perdagangaol TruJing

PI Surya Larnpung Perkasa JI Yns Sudafso No 11 WaylUllik Pnnjansmiddot Bandar LampUl1g

Perdagangan Trading

The Compolly has direct and indirect ownership in the following subsidiaries

Talrun mula betoprerasi korrursiat Pmeotase Jumlah Me

roo kepemfiikanJ sebelum eliminasil commeuroflced Percentage of T()(al assets

commercial QIVlWsilip

OTArat1Ji1S 201(1 2009

1993 999middot) 9999(- 1272977 1201O5U

2004 9999(middot) 9999() 3246670 2721604

(U) 9999() 9999() 14810 259096

(-) 9999() 110304

2009 6000 6000 43017 399211

2009 600(1 601)0 61954 51](14

2009 600011 6000 44038 31939

2009 l000 toOO 140934 150250

1009 (iOOI) 6000 61927 5)143

2009 6000 6100 73411 52966

2009 6000610 6000 142601 131742

() 100 kunmg I ($JIU) nham () J()(f leu 1 (om) 1lmr () Silmpti pkhir 2010 PT GI1IhaSIIlIl lgtieltlia dim PT Sutya Air btlum (U) Through ytor-mJ 1010 PT Grohd Swya Mrdia wJd PT StJtya Air Juwe 110 comrnegtletd

~ikomelliil Iher tcmmertinl CP(IJIl(jt

PT Guriallg Garcnn Tbk 10

PT GUDANG GARAM Tbk DAN ANAK PERUSAHAANI PT GUlJANG GARAM Tbk AND SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN KONSOUDASrlNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS T AHtN BERAKHIR 31 DESEvBER 2010 DAN 20091YEARS ENDED 31 DECEMBER 20 IO AND 2009

(Dalamjutaan rupiah) ke~~ali dinyatakan khususJn millions ofrupiah unless otherwise specified)

1 UMUM (Lanjntan) 1 GENERAL (Continued)

Tahunmlllni becopemsi komerslal Jurnlah ase

sebelum elil1lmasily Total assets NlIlln perusAhaanI Kegiatan utamul conllnerciuJ bifcre elimmulion Company Rame PrillcipttJ activities operatians 2010 2l09

commenced

Kcpemilikm tidak langWng mclnluil lndfreetfy-awned through PT Surya Mlldistrindo

PT Surya JWaindah Pedosl )1 R Soeprnplo No 32 Perdagangani 2009 6000 20427 21247 P(jwtdu KCl1dari Trodng

PT SUf)D ofiu311asa Perkilla Jt Raya Tumohon No 28 Perdaganganl 2tlGO euro000 6000 199339 135510 Winangun Manado Tromng

PT Surya Perintis Ri~1l PerkaSll J1 TUauKu Trunbulai Perdagmganl 200 6000 145328 152767 No 37-38 Peiumbaru Trading

PI Surya Sriwijaya Perkasa JI Soeknruo bull HtllU Perdagangani ZOO9 6000 22 i967 118100 No 2553 RT 38 RW 11 Tradillg PaJembnng

PI Surya Lombok Perbl~a 11 Kutllang J No9 peniaganganl 2009 6000 6000 54048 37468 Cakrnnegarn Malaram Trading

PT SU[)3 Sima PerkaS3 JL Gatot Subrolo Perrl1gallganl zoo 6000 6(OO 63853 68439 Kelurahau Maulapaga Trading Bima

PT Surya Kerbaumas Pertuil JL TimorRnysKm 7 Pertbganganl 2009 25731 21562 Wasapa KUpltlllg Trading

aJla 82296 48741 Banjarmllln JL A YauiKm 9 200

PT Smya MlIlldala Perkasa JI KoIQJnbeYK Perdagangan 2tlla 6000 83362 R1 OOlfRW tH LK L Trading Kel Nangalhnang Kcc Alok Kab Sikka Maumete

PT Surya Papua Perkltsa J1 Argapura No lB PerdJganganl 201) 6000 155018 Jayapura Trading

KepelllililGITI tidak langsung melauil IldirectlY-Dwned thrQugh PT Graha Surya Media

PT Surya Wisala 11 Scmalllpir lVI PenSllsahaan objck 1988 9999(middot) 4861 4961 Kecliti wisaWTOllriSIII ildulry

r) JOOllrSsl(m4JJtw

Dalam lahun 20 10 PT Surya Madistrindo mendirikan PT Surya Mandala Perkasa dan PT Surya Papua Perkasa dengan total setoran modal saham masing-rnasing sebesar Rp 2100 juta dan Rp 3600 juta

Dalam tahun 2010 Perseroan mendirikan PT Surya Air dengan total setoran modal saham $Obesar Rp 74999 juta

III 2010 PT Satya Madistrilldo established PT Surya Malldala Perkasa and PT Satya Papua Perlcasa with total share capital paymellt OJtowted to Rp 2100 million and Rp 3600 millwll respectively

III 2010 th Company established PT Sutya Air with total share capital payment amounted to Rp 74999 million

PT Gudallg Garam Tbk II


CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIINOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS TAHUN BERAKHIR 3 DESEMBER 2010 DAN 2009IYEARS ENDED 31 DECEMBER 2010 AND 2009

(Dalamjutaan rupiah kecuali dinyatakan khususiln millions of111piah unless otherwise specified)

1 UMUM (Lanjutan) 1 GENERAL (Continued)

Susunan Pengurus Perscroan akhir tahun 2010 dan 2009 At year end 2010 and 2009 the composilion ofthe Companys adalah sebagai berikut Board oCommissioners and Directors was asollows

2010

Presiden Komisaris NylMrs Juni Setiawati Wonowidjojo President Commissioner Komisaris-komisaris TnfMr Frank Willem van Geder() Commissioners

mlMr Yudiono Muktiwidjojo(j mlMr Lueas MuHa Suhardja ()

Presiden Direktur TnIMr Susilo Wonowidjojo PresideJlt Director Direktur-direktur TnlMr Hern Budiman Directors

TnfMr Edijanto TnhWr Herry Susianto TnfMr Fajar Sumeru TnMr Buan Susito

Presiden Komisaris NyJMrs Juni Setiawati Wonowidjojo President Commissioner KomisarisMkomisaris TnfMr Frank Willem van GeJder() CommissiOJI6rS

TnfMr Yudiono Muktiwidjojo() TnMr Hadi Soetirto() TnMr Lucas Mulla Suhardja ()

Presiden Direktur TnMr Susilo Wonowidjojo President Director Direktur-direktur TnMr Heru Budiman Directors

TnMr Edijanto TnJMr Buntoro Turtan TnlMr Hetry Susianto TnJMr Fajar Sumeru TnJMr Buana Susio

()Komisaris Independen ()Jndependent Commissioners

Beberapa anggota nellln Komisaris dan Direksi Perseroan Certaill members of the Companys Board of Commissioners juga merupakan pemegang aham Perseroan (Catalan 18) and Directors are also the shareholders of the Company

(Nole 18)

Per akhir 2010 Perseroan dan anak perusahaan At year end 2010 the Company and subsidiaries employed mempekerjakan 46189 karyawan (2009 43799 karyawan) 46189 empJoyees (2009 43799 employees)

Laporan keuangan konsolidasi dlsetujui untuk diterbltkan The consolidated financial statements were authorized for issue manajemen paw tanggal28 Maret 201 L by the management on 28 March 201l

PT Gudang Caram Tbk J2

PT GUDANG GARAM Tbk DAN kiAK PERUSAHAANI PT GUDANG GARAM Tbk AND SUBSIDIARIES

CATATAN AT AS LAPORkl KEUANGAN KONSOUDASIINOTES TO THE CONSOliDATED FINANCIAL STATEMENTS TAHUN BERAKHIR 31 DESEMBER 20 I 0 DAN 20091YEARS ENDED 31 DECEMBER 2010 AND 2009

(Dalam jutaan rupiah keeuali dinyatakan khusuSln millions ofnlpiah unless otherwise specified)

2 IKHTlSAR KEBIJAKAI AKUNTANSI YANG 2 SUMMARY OF SIGNIFICANTACCOUNTING PENTING POLICIES

Dalam pembukuan dan pelparan keuangannya Perseraan dan anak perusahaan rnenganut kebijakan akuntansi sesuai dengan prinsip akuntansi yang berlaku umum di Indonesia Kebijakan~ kebijakan akuntansi yang penting yang diterapkan dalam penyusunan laporan keuangan konsolidasi tahun berakhir 31 Desember 2010 dan 2009 adalab sebagai berikut

a Dasar penyusunan lapran keuangan knslids

Laporan keuangan konsolidasi yang disajikn dalam jutaan rupiah disusun atas dassr akrual1 kecuali untuk laporan arus kas kansolidasi

Laporan aros kas kansalidasi menyajikan perubaban dalam kas dan setara kas dari aktlvitas operasi investasi dan pendanaan yang disusun dengan metode langsung (direct method) Perseroan dan anak perusahaan memperhitungkan deposito berjangka yang jatuh temponya tidak lebih dari tiga bulan dari tanggal perolebannya sebagm setara kas

b Prinsip konsoUdasi

Lapman kenangan konsolidasi meliputi laporan keuangan Perseroan dan anak perusahaannya dimana Perseroan balk secara langgung ataupun tidak langsung memiliki kepemilikan ham dengan hak suara lebih dari 50 Anak perusahaan dikonsolidasi sejak tanggal Perseroan memperoleh pengendaliall secar erektif dan tidak lagi dikonsolidasi sejak tanggal pelepasannya

Se1uruh saldo dan transaksi antar perusahaan-perusahaan yang dikonsalidasi dieliminasi

Kebijakan akuntansi yang digunakan dalam laparan keuangan konsolidasi telah diterapkan secara konsisten oleh anak perusahaan kecuali bila dinyatakan lain

Hak minoritas atas laba (rugi) bersih dan ckuitas anak peruahaan dinyatakan sebesar propersi pemegang saham minorias alas laba (rugi) bersih dan ekuitas anak perusahaan terSebut

c Pengaknan pendapatan dan bobn

Pendapatan penjualanljasa dibukukan berdasarkan pengiriman barang atau penyerahan iasa kepada pembeli sesuai dengan syarat penjualannya

Beban diakui pada saat teriadinya

The accounting and reporting policies adopted by the Company and subsidiaries conform to accounting prinCiples generally accepted in Indonesia The significant accounting policies applied in the preparation of the consolidated financial statements for the years elided 31 December 2010 and 2009 were as follows

a Basis for preparatioll ofthe cOlls(lidatedfinancial statemellts

The consolidated financial statements presented in millions of rupiah are prepared on the accrual basis except for consolidated statements ofcash flows

The consolidated statemems of cash flows present the changes in cash and cash equivalents from operating investing and financing activities ami are prepared using the direct method The Company and subsldiaries consider short-term time deposits with ma1UrUies ofnot more than three months at the dale ofacquisition to be cash equivalents

b Basis ofCDlIsolidntioll

The consolidated fmancial statements include the financial statements of the Company and its subsidiaries on which the Company directly or indirectly has a voting-right share ownership of more than 50 Subsidiaries are consolidated from the date on which effective control is obtained and are no longer consolidated from the date ofdisposal

All balances and transactions between consolidated companies are eliminated

The accounting policies adopted in the consolidated financial statements have been conSistently applied by the subsidiaries unless otherwise stated

Minority interest on net profit (loss) and equity of the subsidiaries are stated at the minority shareholders portion on net profit (loss) and equity ofthe subsidtaries

c Reveltue and expense recoglluum

Revenue froln saleslserwces is recognized based on the shipment of goods or delivery of services to buyers in accordance with the termS ofsale

Expenses are recognized when incurred

PT Gudang Garan Tbk 13

PT GUDAl~G GARAM Tbk DAN ANAK PERUSAHAANI PT GUDANG GARAM Tbk AND SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGA KONSOLIDASllNOTES TO THE CONSOliDATED FINANCIAL STATEMENTS TAHUNBERAKHIR 31 DESEMBER2010 DAN 2009YEARSENDED 3 DECEMBER 20lOAND 1009

(DaJam juman rupiah kecuali dinyatakan khuuslln millions o[rupiah unless otherwise specified)

2 IKHTISARKEBIJAKA] AKlNTANSI 2 SUMMARY OF SIGNIFICANTACCOUNTING YANG PENTING (Lanjutan) POliCIES (Continued)

d Penilaian pcrscdiaan

Persediaan dinilai menurut harga yang lebih rendah antara harga perolehan atau nilai bersih yang dapat direalisasi (net realizable vaiue)

Harga perolehan barng jad rokok dihitung berdasarkan biaya produksi ram-ram ebenamya dimmbah biaya pembungkusan dan pita cukai (termasuk PPN) untuk rokok yang telan dibungkus dan diberi pita eukai

Harga pewlehan barang jadi kertas karton dihitung berdasarkan biaya produksi rata-rata sebenarnya rutambah biaya pembungkusan

Harga perclehen barang dagangan dihitung dengan metode FIFO

Harga perolehan barang dalam pengolahan dihitung berdasarkan biaya produksi rata~rata sebenarnya sesuai dengan tingkat penyelesainnya

Harga perolehan bahan bakupembantu suku cadang dan keperluan pabrik dihitung dengan metode rata-rata

Pita cukai dnilai dengan barg beli scdangkan PPN rokok yang tennasuk dalam pita cukai dinilai sebesar 84 dari nilai nominal pita eukai sesuai dengan peraturan Pemerintah

e Aset dan kewajiban keuangan

Efektif tanggal I Januar 2010 PefSeroan dan anak perusahaan mengadopsi Pernyataan Standar Akuntansi Keuangan (PSAK) No 50 (Revisi 2006) lnstrumen Keuangan Penyajian dan Pengungkapan dan PSAK 55 (Revisi 2006) lnstrumen Kenangn Pongakuan dan Pengukuran dan Buletin Teknis NoA yang mengatur ketentuan transisi pada penerapan awal standsNttandar terscbut Efek kumulatif atas perubahan prinsip akuntaruli pada tanggal transisi tidak signifikan olen sebab itu tidek terdapat penyesuaian transisi

d Inventory valltation

Inventories are valued at the lower of cost or net realizable value

Cost of Cigarette finished goods is computed based on average actual production cost plus cost ofpackaging and excise duty (including VAT) for cigarettes already packed and provided with excise duty ribbons

Cost of paperboard finished goods is computed based on average actual production cost plus cost ofpackaging

Cost ofmerchandise is computed using the FIFO mefwd

Cost of goods in process is computed based on average actual production cost proportional to their stage ofcompletion

Cost of rawsupplementary materials spare parts and factory supplies is computed using the average method

Excise duty nbbons are valued at purchase price while the VAT included in the excise duty ribbons is valued at 84 of the nominal value of the excise duty ribbons in accordance with Governmem regulation

e Fimmciill (Issets atld liabilities

Effective I January 2010 the Company and subsidiaries adopted Statement of Financial Accounting Standards (PSAK) No 50 (2006 Revision) Financial illSirumellls Presentation and Disclosures and PSAK No 55 (2006 Revision) Financial Instruments Recognition and Measurement as well as Technical Bulletin No4 which sets forth trmsitionai provisions for the first~time adoption ofthese new standards The cumulative effect of these changes in accounting principles has been inslgnificant as ofthe transition date and therefore there have been fa transitional adjustment


PT GUDANG GARAM Tbk DAl~ ANAK PERUSAHAANI PT GUDANG GARAM Thk AND SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIINOTES TO THE CONSOLIDATED FINANCIAL STATEMElvTS TAHUN BERAKHIR 31 DES EMBER 2010 DAN 20091YEARS ENDED 3 DECEMBER 2010 AND 2009

(Dalamjutaan rupiah kecuali dinyatakan khususlln millions ofrupiah unless otherwise specified)

2 IKHTISAR KEBIJAKAN AKUNTANSI 2 SUMMARY OF SIGNIFICANT ACCOUNTING YANG PENTING (Lanjutan) POliCIES (Continued)

e Asct dan kewajiban keungan (Lanjutan)

Aset dan kevrajiban keuangan diakui saat Perseroan dan anak perusahaan menjadi salah satu pihak dalll1l1 ketentuan pada kontrak instrumen tersebut Aset keuangan dihentikan pengakuannya saat hak Perseroan dan anak perusahaan untuk menerima arus kas yang berasal dati asct keuangan tersebut berakhir) atau ssat seluruh fisiko dan manfaat dad aset keuangan tersebut ditransfer seeara substansial kcpada pihak lain Kewajiban keuangan dihentikan pengakuannya saat kewajiban Perseroan dan anak perusahaan kadaluarsa atau dilepaskan atau dibatalkan

Berdasarkan sifat dan tujuan transaksinya Perseroan dan anak perusahaan mengklasifikasikan asct dan kewajiban keuangan ke dalam kategori-kategori berikut

a) Aset dan kewajiban keuangan yang diukur pada nilai wajar melaluilaporan laba-rugi

b) Aset keuangan yang dimiliki hingga jatuh tempo 0) Pinjaman yang dibenkan dan piutang d) Aset keuangan tersedia untuk dijual e) Kewajiban keuangan lainnya

Aset keuangan Perseroan dan anak perusahaan terdiri dan kas dan setara kas piutang usaha dan piutang lainshylain yang diklasifikasikan sebagai Pinjll1l1an yang diberikan dan piutang sedangkan kewajiban perseroan dan anak perusahaan terdiri dan pinjaman jangka pendek hulang usaha beban masih harus dibayar dan kewajiban lanear lain-lain yang diklasifikasikan sebagai Kewajiban keuangan lainnya

Pinjaman yang diberikan dan piutang ped awl pengakuannya diukur berdasarkan niIai wajar ditambah biaya transaksi signifikan yang dapat diatribusikan seeara langsung Setelah pengakuan awal aset keuangan ini diukur sebesar biaya perolehan diamortisasi dikurangi dengan penyisihan penurunan nilai bila diperlukan

Penyisihan penurunan nilai diakui saat terdapat bukti yang cukup bahwa Perseroan dan anak perusahaan tidak mampu mcnagih sesuai dengan ketentuan awalnya

Kcvlajiban keuangan lainnya pada pengakuan awalnya diakui sebesar nilai wajamya dikurangi dengan biaya transaksi signifikan yang dapat diatribusikan langung Setelah pengakuan awal kewajiban keuangan ini diukur sebesar biaya perolehan diarnortisasi

e FilUlIlcial assets and liabilities (CoJltiIlUed)

Financial assets and liabilities are recognized when the Company and subsidiaries become a party to the contractual provisions ofthe instruments Financial assets are derecognized when the contractual rights ofthe Company and subsidiaries to the cash flows from the financial assets expire or when substantially all risks and rewards of the financial assets are transferred to another party Financial liabilities are derecognized if the obligations ofthe Company and subsidiaries expire or are discharged or cancelled

BQpounded on theirmiddot nature and purpose the Company and subsidiaries classify their financial assets and liabilities into the following categories

a) Financial Qpoundsets and liabilities atfair value through profit Or loss

b) Held to maturity investments 0) Loans and receivables d) Availablefor sale financial assets e) Other illancialliabililies

The financial assets ofthe Company and subsidiaries comprise cash and cash equivalents trade receivables and other receivables which are classified as Loans and receivables whereas their financial liabilities consist of short-tenn loans trade payables accrued expenses and other current liabilities which are classified as Other finaneialliabilities

Loans and receivables are initially measured at fair value plus any significant directly attributable transaction costs Subsequent to initial recognition these financial assets are measured at amortized cost net of provision for impairment when necessary

A provison for impairment is recognized when there is objective evidence that tlte Company and subsidiaries will not be able to collect tlte amounts due according to the original terms

Other jifUlncialliabiltties are initially measured atfair value less any significant directly attributable transaction casts Subsequent to initial recogltition tltese financial liabilities are measured at amortized cost

PT Gudallg Garam Tbk 15



(Dalam j utaan rupiah kecuaJi dlnyatakan khususlln millions 0rupiah unless otherwise specified)

2 IKHTlSAR KEBIJAKAN AKUNTANSI 2 SUMMARY OF SIGNIFICANT ACCOUNTING YANG PENTING (Lanjntan) POLICIES (Continued)

e Ase dan Iewajlban keuangau (Lanjuan) e Fillancial assets and liabilities (COlltillllcd)

Asel dan kewajiban keuangan dapat disaling-hapuskan dan Financial assets and liabilities can be set offand presented net nilai bersihnya disajikan di neraca ketika lerdapat hak yang in the balance sheet when there is a legal right ffiet and berkekuatan hukum untuk melakukan saling-hapus dan there is an intention to settle Oil a net basis or when the asset is terdapat intensi untuk menyelesaikan nilai secara neto atau realized and the liability settled simultaneously ketika aset tersebut direalisasi dan kewajibannya diselesaikan secara simultan

f Investasi jangka panjang

Investasi pada perusahaan asosiasi dengan pemilikan 20 Investment in associaled company with an ownership of 20 samp dengan 50 dicaat dengan metode ekuitas (equity through 50 are recorded using the equity metfwd method)

g Aset tlttap g Fixed assets Tanah disajikan dengan harg perolehan dan tidale Land is presented at acquisition cost and lwt depreciated disusutkan

Aset tetap selain tanah diakui sebesar harga perolehan Fixed assets other than land are stated at acquisition cost less dikurangi dengan akumulasi penyusutan accumulated depreciation

Penyusutan aset tetap selain tanah dihitung sejak bulan aset Depreciation ofthe fixed gssets other than land is applied ji-orn yang bersangkutan siap untuk digunakan j dengan metode the nwnth such assets were ready to put into service 011 the garis lurus (straight-line method) berdasarkan taksiran masa straight-line method based on estimated useful lives as follows manfaat sebagai berikut

Bangunan~ jalan dan jemhatan 20 - 30 tahunyears Buildings roads and bridges Instalasi air dan listrik 10amp 25 tahunyears Water and electrical installations Mesin dan peralatan 10 - 25 ahunyears Machinery and equipment Inventaris 4 5 tahunyears Furniture andfixtures Kendaraan herrnotor helikopter dan Motor vehicles helicopters and related

peralatannya 4 - 8 tahunyears equipments

Aset dalam penyelesaian merupalean akumulasi dari biaya~ Assets under construction represent the accumulated cost of biaya bahan peralatan serla biaya lainnya yang berkaitan materials equipment and other costs directly related to the langsung dengan penyelesaian aset temp Akumulasi biaya constroction of the fixed assets The accumulated cost is tersebut akan direklasifikasi ke dalam aleun aset tetap yang reclassifted to the relatedJrxed assets when asset construction is bersangkutan pada saat pekerjaan selesai dan 8set tersehut completed and ready to put into service siap untuk digunakan

Biaya perbaikan dan pemeliharaan dibebankan pada laporan Repair and maintenance costs are charged to current year Ib rugi konsolidasi tahun bedalan Biaya penambahan dan consolidated statement of income Cost of betterments and pemugaran signifikan yang menambah manfaat ekonomis renovations that increase the future economic benefits of the masa depan aset dikapitalisasi assets are capitalized


PT GUDAtlG GARAM Tbk DAN ANAK PERUSAHAANI PT GUDANG GARAM Tbk AND SUBSIDIARIES

CATATAN ATAS LAPORAN KEUAlt1GAN KONSOLIDASIINOTES TO THE CONSOUDATED FINANCIAL STATEMENTS TAHUN BERAKHIR 31 DES EMBER 2010 DAN 2009YEARS ENDED 31 DECEMBER 2010 AND 2009


2 IKHTISAR KEBIJAKAN AKUNTANSJ 2 SUMMARY OF SIGNIFICANT ACCOUNTING YANG PENTING (Lanjutan) POLICIES (CQlltinued)

g Asct tctap (Lanjutan)

Aset tetap yang sudah tidk digunakan atau yang dijual dikeluarkan dari keJompok aset tetap yang bersanglrutan sedang lab (rug) yng terjadi dibukukn dalam laporan laba TUgi konsolidasi tahun berjalan

b Iliay dibayar dimuka

Biaya dibayar dimuka djamortisasi sesum dengan masa manfuat beban yang bersangkutan menggunakan metode garis lurus (straight-line methad)

i Goodwill

Goodwill diamottissi dengan metode garis lurus (straightshyline method) selama 20 tahun

j Penjabaran valuta asing

Mata uang fungsional dan mats uang pencatatanipeJaporan Perseroan dan anak perusahaan adalah rupiah

Transaksi dalam valuta asing dijabarkan dalam rupiah dengan kurs tangg1 transak Pada tanggal neracll saldo aset dan kewajiban moneler dalam valuta using dijabarkan dalam rupiah dengan kurs yang berlaku pada tanggal tersehut

Per akbir 2010 dan 2009 kurs utam yang dlgunakan berdasarkan kurs tengah Bank Indonesia adalab sebagal berikut

2010 Rupiah penuh

III whole rupiLIh

Dolor Amorika Serikat (USD) Buro (BUR)

8991 11956

Laba (rugi) kurs yang tolah maupun yang belum direalisasi diakui dalam tahun yang bersangkutan

g Fixed assets (Colltallled)

Fixed assets which are no longer utilized or sold are removed from the related group affIXed rusets alld the gains (losses) are recorded in the current year consolidated statement ofincome

h Prepaid expe

Prepaid expenses are amortized over the benefited periods using the straigllt-lin method

i Goodwill

Goodwill is amortized on the straight-line method over a period of20 yearS

j Foreigll currellcies trallsalio

The fUllctional and recordinglreparting currency ofthe Company and its subsidiaries is the Indonesian rupiah

Transactions in foreign currencies are translated into rupiah at the rates prevailing at transaction date At the date of balance sheets balances of monetary assets and (abilities in foreign currencies are translated into rupiah at the exchange rates prevailing at that date

At year end 2010 aud 2009 the mai exchange rates ~sed based on Bank Indonesia middle rates are as follows

2009 Rupiah penuhi

III whole rupiah

9400 United States Dollar (USDj 13510 Euro (EUWj

Foreign exchange gains (losses) realized and unrealized are recognized in the related year


PT GUDANG GARAM Tbk DAN ANAK PERUSAHAAt~1 PT GUDANG GARAM Thk AND SUBSIDIARIES


(Dalamjutaan rupiah kecuali dinyatakan khususJn millions ofrupiah unless otherwise specified)

2 IKHTISAR KEBIJAKAN AKlJNTANSI 2 SUMMARY OF SIGNIFICANT ACCOUNTING YANG PENTING (Lanjutan) POLICIES (Continued)

1lt Heban pajak

Peraeroan dan anak perusahaan menerapkan metode aset dan kewajiban (asset and liability method) dlam menghitung beban pajaknya Dengan metode ini aset dan kcwajiban pajak tangguhan diakui pada setiap tanggal pclaporan scbesr perbedaan temporer dalam poneatatan aset dan kewajjban untuk tujuan akuntansi dan perpajakan Metode im mcngharuskan pongakuan manfaat pajak di masa yang akan datang~ seperti kompensasj rugi fiskal jika kemungkinan realisasi manfaat tersebut di masa mendatang cukup besar (probable)

I Laba per sbm

Laba per saham dihitung dengan membagi lab usahalbersih dengan jumlah rata-rata tertimbang sabam beredarditempatkan dalam tahun yang bernngkutan

m Transksl dengan pihak-plhak hubungan istimewa

Peraeroan dan ak perusahaan melakukan tranwi dengan pihak-pihak yang mempunyai hubungan stmewa sesuai dengan yang dijelaskan dalam PSAK (07 tentaug Pengungkapan Pihak-pihak yang Mempunyai Hubungan Istimewa dan perumusan dalam Keputusan Ketua Badan Pengawas Pasar Modal (Bapcpam) No KEP-06PM2000 tanggal 13 Maret 2000 mongenai Pedoman Penyajian Laporan Keuangan

Dalam kegalan usaha normal semu transaks dengan pihak-pihak yang mempunyai hubungan istimewa dilakukan dengan pernyaratn dan knndi yang wajar (arllls length) dan diungkapkan dalam laporan keuangan konsolidasi

k Income tax expense

The Company and subsidiaries adopt the asset and liability method in determining their income tax expense Under this method deferred tax assets and liabilities are recognized at each reporting date for temporary differences between the financial and tax basis ofassets and liabililies This method also requires the recognition 0future tax benefits such as tax loss carryfonvards to the extent that realization ofsuch hemfus is probable

I Earnings per sllare

Earnings per share are computed by dividing the operatingnet profit for the year by the weighted average of tolal outstandingissued shares during the year

m Tra11Saciums with related parties

The Company and subsidiaries have transactions with related

parties in accordance with the definition in PSAK No 7J Related Party Disclosures and Decree of the Chairman of the Capital Market Supervisory Agency No KEP-061PM12000 daled 13 March 2000 regarding the Guidance for the

Presentation ofFinancial Statements

III the normal conduct ofbusiness all transactions with related parties are conducted on all arms lellgth basis alld are disclosed ill the cOllsolidatedjinallcial statements




(Dalarnjutaan rupiah kecuali dinyatakan khususln millions ofrupiah unless otherwise specified)

2 IKHTISAR KEBIJAKAN AKUNT ANSI 2 SUMMARY OF SIGNIFICANT ACCOUNTING YANG PENTING (Lanjutan) POLICIES (Continlled)

ll Informasi segmen

Perseroan dan anak perusahaan rnengidentifikasikan segmen operasi berdasarkan segrnen usaha (rokok kcrtas karton dan Jainnya) dan segmen geografis (pasar Indonesia dan di luar Indonesia) Harga antar segrnen ditentukan secara wajar (arms length basis) Beban yang timbul akan dibebankan pada setiap segmen pada saat terjadi Kebijakan akuntansi yang diterapkan oleh setiap segmen sarna dengan yang diungkapkan dalam ikhtisar kebijakan akuntansi yang penting Seluruh transaksi antar segrnen te1ah die1irninasi

o Imbalan pasea-kerja

Kewajiban atas imbalan pasea-kerja Perseroan dan anak perusahaan dihitung sebesar nitai kini dari estimasi jumlah imbalan pasea-kerja di masa depan yang timbul dar[ jasa yang te1ah diberikan oleh karyawan pada masa kini dan masa lalu Perhitungan dilakukan oleh aktuaris independen dengan metode projected unit credit

Pada saat imbalan atas program pasea-kerja berubah porsi kenaikan atau penurunan imbalan sehubungan dengan jasa yang telah diberikan oleh karyawan pada masa Ialu dibebankan atau dikreditkan dalam Iaporan Iaba rugi konsolidasi dengan menggunakan metode garis lurus selama rata-rata masa kerja karyawan hingga imbalan pasea-kerja menjadi hak karyawan (vesteil) Apabila imbalan pasca-kerja telah menjadi hak karyawan bebannya diakui segera dalam laporan laba rugi konsolidasi

p Penggunaan taksiran

Penyusunan laporan keuangan konsolidasi sesuai dengan prinsip akuntansi yang berlaku umum menyebabkan manajemen perlu membuat taksiran-taksiran dan asumsishyasumsi yang mempengaruhi jumlah aset dan kewajiban yang dilaporkan serta pengungkapan aset dan kewajiban kontinjensi pada tanggal laporan keuangan dan jurnlah pendapatan dan beban yang dilaporkan selama periode pelaporan Hasil aktual dapat berbeda dari taksiran-taksiran tersebut

II Segmellt illformation

The Company and subsidiaries identify operating segments based on their business segments (cigarettes paperboard and others) and geographical segments (Indonesia and outside Indonesia market) Inter-segment pricing is determined on an arms length basis Expenses are charged to each segment where the expenses incurred The accounting policies of the segment are the same as those prescribed in the summary of significant accounting policies All inter-segment transactions have been eliminated

o Post-employmellt belle fits

The obligation for post-employment benefits of the Company and subsidiaries is calculated at present value of estimated future benefits that the employees have earned in return for their service in the current and prior periods The calculation is performed by an independent actuary using the projected unit credit method

When the benefits of a plan changed the portion of the increased or decreased benefits relating to past service by employees is charged or credited to the consolidated statement of income on a straight-line basis over the average period until the benefits become vested To the extent that the benefits vest immediately the expense is recognized immediately in the consolidated statement ofincome

p Use ofestimates

The preparation of the consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure ofcontingent assets and liabilities at the date ofthe financial statements and the reported amounts ofrevenues and expenses during the reporting period Actual results could differ from those estimates



CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIiNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

TAHUNBERAKHIR31 DESEMBER2010DAN 20091YEARSENDED 31 DECEMBER2010AND2009 (Dalam jutaan rupiab kecuali dinyatakan khususlln millions ojrupiah unless otherwise specified)

3 KAS DAN SETARA KAS 3 CASH AND CASH EQUIVALENTS

2010 2009

Kas Cash on hand Rupiah 148716 81831 Rupiah Valuta asing 214 170 Foreign currency

Total kas ~~~2 8~O~ Total cash

Bank pihak ketiga Cash in third parties banks Rupiah Rupiah

PT Bank Negara Indonesia (Persero) Tbk 366969 326759 PTBank Negara Indonesia (persero) Tbk PT Bank Mega Thk 184189 264013 PT Bank Mega Tbk PT Bank Central Asia Thk 38048 73831 PTBank Central Asia Tbk Standard Chartered Bank 22894 22139 Standard Chartered Bank PT Bank Rakyal Indonesia (Persero) Tbk 19035 18536 PTBank Rakyat Indonesia (persero) Tbk PT Bank ICB Bumiputera Thk 15863 PT Bank ICB Bumipuiera Tbk PT Bank Danamon Indonesia Tbk 7419 9236 PT Bank Danwnon Indonesia Tbk Deutsche Bank AG 7281 10187 Deutsche Bank A G PT Bank lotemasionallndonesia Tbk 3256 43781 PT Bank Internosional Indonesia Tbk PT Bank Permata Tbk 2255 104905 PT Bank Permata Tbk PT Bank Pembangunan Dacrah Sumatera PT Bank Pembangunan Daerah

Barat 1744 2401 Sumatera Barat PT Bank Ekonomi Raharja Tbk 1598 496 PT Bank Ekonoi lItlhalja Tbk PT Bank Pembangunan Daerah Sumatera PT Bank Pembangunan DfUrah

Selatan 1450 2855 Sumatera Selaan PT Bank CIMB gtIiaga Tbk 1413 2199 PT Bank ClMB Maga Tbk PT Bank Pan Indonesia Thk 1231 1458 PT Bank Pan Indonesia Tbk PT Bank OCBC NISP Tbk 1160 3078 PT Bank OCBC NISP Tbk PT Bank Pembangunan Daerah PT Bank Pembangunan Daerah

Kalimantan Barat 1159 956 Kalimantan Baral Lain-lain (masing-musing dibawah

Rp I milyar) 2333 7324 Others (below Rp 1 billion each) Tota1 rupiah ~7 894154 Total rupiah

Vafuta asing Foreign currency Citibank NA 55318 17386 Citibank NA PT Bank Internasiona Indonesia Tbk 39197 454 PT Bank Internasional Indonesia Tbk Standard Chartered Bank 37487 32301 Standard Chartered Bank Deutsche Bank AG 17139 21678 Deutsche Bank A G The Royal Bank of Scotland 12375 12126 The Royal Ba~k oJScotland PT Bank ICB Bumiputera Tbk 7287 PTBank ICB Bumiputera Tbk Lain-lain (masing-musing dibawah

Rp 1 milyr) 50540 Others (below Rp billion each) Total valuta asing 13~~~ Totalforeign cun-aney

Total bank pihak ketiga I9I~~~ 18~39 Total cash in third parties banks

PT Gudang Gl11am Tbk 20

PT GUDANG GARAM Tbk DAN ANAK PERUSAHAANI PT GUDANG GARAM TbkAND SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIINOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

TAHUN BERAKHIR 31 DESEMBER 2010 DAN 20091YEARS ENDED 31 DECEMBER 2010 AND 2009 (Dalamjutaan rupiah kecuali dinyatakan khususlln millions ofrupiah unless othelwise specifier)

3 KAS DAN SETARA KAS (Lanjutan) 3 CASH AND CASH EQUIVALENTS (Continued)

Deposito berjangka Rupiah

PT Bank Mega Tbk PT Bank Central Asia Tbk PT Bank Negara Indonesia (Persero) Tbk PT Bank OCBC NISP Tbk PT Bank Danamon Indonesia Tbk PT Bank Pembangunan Daerah Sumatera

Selatan PT Bank Rabobank International

Indonesia PT Bank ICBC Indonesia PT Bank Commonwealth PT Bank Mestika Dharma PT Bank Permata Tbk Lain-lain (masing-masing dibawah

Rp I milyar) Total rupiah

2010

100585 55520 30723 18930 13335

10200

8765 3713 2595 1195 1095

3795

2009

3232 53328 15225 16827 6675

3774

1065 1095

5574

J~~

Time deposits Rupiah

PTBank Mega Tbk PTBank Central Asia Tbk

PTBank Negara Indonesia (Persero) Tbk PTBalik OCBC NISP Tbk

PTBank Danamon Indonesia Tbk PTBank Pembangunan Daerah

Sumatera Selatan PT Bank Rabobank International

Indonesia PTBank ICBC Idollesia PT Bank Commonwealth

PTBank Mestika Dharma PTBalik Permata Tbk

Others (below Rp 1 billioll each) Total rupiah

Valuta asing

PT Bank OCBC NISP Tbk

Total valuta asing

5462

~~~

Foreign currency

PTBalik OCBC NISP Tbk

Total foreign currency

Total deposito berjangka J~~ Total time deposits

1249249 1222897

2010 2009

Tingkat suku bunga rata-rata tahunan deposito berjangka adalah

The average annual interest rates ofthe time deposits are

Deposito rupiah Deposito US dollar

525 - 800 I75 - 325

550 shy 1400 175

Rupiah deposits US dollar deposits

Pada akhir 2010 rata-rata suku bunga efektif tahunan kas dan setara kas adalah 215 (2009 280)

At year end 2010 the average annual effective interest rate for cash and cash equivalents was 215 (2009 280)

Lihat Catatan 29 untuk rincian saldo dalam valuta asing See Note 29 for details ofbalances inforeign currencies



CATATAN ATAS LAPORAN KEUANGAN KONSOUDASINOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

TABUN BERAKHIR 31 DESEMBER 2010 DAN 20091YEARS ENDED 31 DECEMBER 20 I0 AND 2009 (Dalam jutaan rupiah kecuali dinyatakan khususlln millions ofrupiah unless otilerwise specified)

4 PIUTANG USAHA 4 TRADE RECEIVABLES

2010

Piutang saha pada pihak ketiga ~s~~~

Piutang usaba pada pihak yang mempunyai hubungan istimewa (perusahaan afiliasi) PT Meoara Kartika Buana 16593 PT Karya Niaga Bersama 4006 PTGandum 146 Lain-lain (masing-masing dibawah

Rp I roilyar) 448

2II~

903739

Umur piutang usaha adalah sebagai bedkut

2010

Piutng usaha pada pihak ketiga 1-30 hari 855085 31-60 hari 18899 61 90 hari 1625 Lebih dari 90 hari 6937

882546

2010 Piutang usaha pada pihak yang mempunyai

hubungan istimewa (perusahaan afiliasi) 1 30 hari 12305 31 60 hari 6840 61 90 hari 1938 Lebih dari 90 hari 110

21193

Manajemen berkeyakinan bahwa semu piutang dapat tertagih sehingga penyisihan penurunan nilai nihil

Lihat Catatan 29 untuk rincian salda dalam valuta asing

2009

977092 Trade receivables from third parties

Trade recetvablesfrom related parties (affiliated companies)

8684 PTMenara Kartika BUGllct 3682 PT Karya Niaga Bersama

22474 PTGandum

1441 Others (below Rp 1 billion each)

~~~~

The aging otrade receivables is asfollows

2009

Trade receivables from third parties 858348 1-30days 102029 31 - 60 days

3959 61 -90doys Over 90 days

2009 Trade receivabesfrom

related parties (affiliated companies) 12096 1425

22760 36281

1 -30 days 31- 60 days 61 -90 days Over 90 days

Management believes that all receivables are collectible Therefore the provisionor impairment is Ili

See Note 29 for details obalances ill foreign currencies




TAHUN BERAKHIR 31 DESEMBER 2010 DAN 2009YEARS ENDED 31 DECEMBER 2010 AND 2009 (Dalamjutaan rupiah kecuali dinyatakan khususlln millions ofntpiah unless otherwise specified)

5 PIUTANG LAIN-LAIN 5 OTHER RECEIVABLES

2010 2009

Karyawan Lainnya

390 10875 11265

1481 24104 25585

Receivables from employees Others

Manajemen berkeyakinan bahwa semua piutang lain-lain clapat tertagih sehingga penyisihan penurunan nilai nihil

Management believes that all other receivables are collectible Therefore the provisionor impairment is nil


6 PERSEDlAAN 6 INVENTORIES

2010

Barang jadidagangan 2613976 Barang dalam pengolahan 154670 Bahan bakulpembantu 14646756 Pita cukai dan PPN rokok 1937608 Suku cadang dan keperluan pabrik 663714

20016724 Persediaan dalam perjalanan 157444

20174168

Per 31 Desember 2010 se1uruh persediaan diasuransikan terhadap resiko kebakaran pencurian huru hara penjarahan dan bencana alam dengan jumlah pertanggungan sebesar Rp 16848954 juta Manajemen berkeyakinan bahwa jumlah pertanggungan asuransi ini memadai

2009

1944901 Finished goodsmerchandise inventories 114510 Goods in process

12777125 Rawsupplementary materials 1305150 Excise duty ribbons and VAT on cigarettes

635596 Spare parts andfactory supplies 16777282

76028 Inventories in transit 16853310

As of31 December 2010 all inventories were insured against the risk of fire theft riots civil commotion damage and natural disaster for a total coverage of Rp 16848954 million Management believes that the total insurance coverage is adequate

7 PAJAKDlBAYARDIMUKA 7 PREPAID TAXES

2010 2009

Pajak Pertambahan Nilai PPh Badan

97738 11855

39229 Value Added Tax Corporate Income Tax

109593 39229




TAHUN BERAKHIR 31 DESEMBER 2010 DAN 20091YEARS ENDED 31 DECEMBER 2010 AND 2009 (Dalamjutaan rupiah kecuali dinyatakan khusuamplIn millions orupiah unless otherwise specified)

8 ASET LANCAR LAIN-LAIN 8 OTHER CURRENTASSETS

Merupakan uang muka pembelian persediaan Represent advances for the purchase ofinventories

9 ASETTETAP 9 FIXED ASSETS

2010 Saldo Saldo awal akhir

Beginning Penambahanl Pengurangan Reklasifikasil Ending balalce Additions Deductions Reclassifications balance

HARGA PEROLEHAN A CQUISITION COST Tanah 309933 381 310314 Land Bangunan jalan dan Buildings roads and

jembatan 1243397 376 72659 1316432 bridges Instalasi air dan Water and electrical

listrik 37731 37731 installations Machinery and

Mesin dan peralatan 8429585 3899 (379) 288515 8721620 equipment Inventaris 578445 27660 (760) 104099 709444 Furniture alldjlXtllres Kendaraan berrnotor Motor vehicles

helikopter dan helicopters alld peralatannya 578043 74726 (8782) 1912 645899 related equipment

11177134 107042 (9921) 467185 11741440 Assets under

Aset dalam penyelesaian 953870 1086230 (467185) 1572915 construction

12131004 ~~~~~ j~~~I) 33~3ss

AKUMULASI ACCUMULATED PENYUSUTAN DEPRECIATION Bangunan jalan dan Buildings roads and

jembatan (386434) (57321) (443755) bridges Instalasi air Water and electrical

dan listrik (25157) (1696) (26853) installations Machinery and

Mesin dan peralatan (3894807) (616170) 379 (4510598) equipment Inventaris (431250) (67772) 127 (498895) Furniture and fixtures Kendaraan berrnotor Motor vehicles

helikopter dan helicopters and peralatannya (373892) (58546) 4816 (427622) related equipment

(sIh54~) j~~SgS 5322 js9~7~3

NILAIBUKU 7019464 7406632 NETBOOK VALUE


PT GUDANG GARAM Tbk DAN ANAK PERUSAHAANI PT GUDANG GARAilf Tbk AND SUBSIDIARIES

CATATAN ATAS LAPORA1 KEUANGkl KONSOLlDASIINOTES TO THE CONSOUDATED FINANCIAL STATEMENTS

TAHUN BERAKHIR 31 DESEMBER2010 Dkl2009IYEARS ENDED 31 DECEMBER 2010 AND 2009 (Dalarnjutaan rupiah) kecuali dinyatakan khususffn millions ofntpiah unless otherwise specified)

9 ASET TETA (Lanjutan) 9 FIXED ASSETS (Co1lti1lued)

2009 Saldo Anak SaIdo awa1l perusahaan akhirl

Beginning baruNew Penambahanl Penglmlngan ReldasJflkasii Ending balance subsidiary Additions Deductions Reclassifications balance

HARGA PEROLEHAN ACQUISITION COST Tanah 3Q7191 2991 1028 (1277) 309933 Land Bangunan ialan dan Buildings roads and

jembatan JI64693 J06 78598 1243397 bridges Instalasi air dan Water and electrical

listrik 37731 37731 inMaIlaJioltS Machinery and

Mesin dan pemlatan 7676593 260 752732 8429585 equipment Inventaris 461722 3 24045 (87) 91762 57B445 Furniture andfIXiflres Kendman bennotor Motor vehicles

helikopter dun helicopters and peralatannya 495600 96120 (29079) 15402 578043 related equfpment

10144530 3100 121453 (30443) 938494 11177134 Assets under

Aset dalam penyeJesaian 868907 1023457 (938494) 953870 construcflon

~~~3 31 1449IO _3~~~3l _ _I23hlltl~

AKUMULASI ACCUMULATED PENYUSUTAN DEPRECIATION Bangunanjalan dan Buildings roads and



Mesin dan peralatall (3317816) (576991) (3894807) equipment Inventaris (380304) (50950) 4 (431250) Furniture (nd fIXtures Kendaraan bennotor Motor vehicles

helikopter dUll helicopters and peralatannya (352723) (49507) (373892) related equipment

~~~053~3) E3~S32) _~ss~o) NILAIBUKU NIlT BOOK VALUE

Aset dalam penyelesaian tediri dari Assets under construction consist ojshy

2010 2009

Bangunan jalan dan jembatan 100259 73444 Buildings roads and bridges Mesill dan peralatan 1422425 865862 Machinery and equipment Inventaris 45284 13363 Furniture alldfwures Kendaraan bermotor helikopter dan Motor vehicles helicopters and related

peralatannya 4947 equipment 1572915

Persentase penyelesaian 10 - 95 25middot 95 Percentage ofcompletion




TAHUN BERAKHIR 31 DESEMBER 2010 DA1 2009YEARS ENDED 31 DECEMBER 2010 AND 2009 (Dalamiutasn rupiah keeu1i dinyatakan khususiin millions ofrupiah mle otherwise specifietfJ

9 ASET TETAP (Lanjutan) 9 FIXED ASSETS (Continued)

2010

Pcnyusutan dibebankan pada Beban produksi 700001 Beban penjualan 44157 Beban umum dan administrasi

Per 31 Descmber 2010 sebagian tanah dan bangunan Perseroan dengan nilai buku Rp 20169 juta dijaminlcan untuk pinjarnan janglca pendek dari PT Bank Negara Indonesia Thk (Carnian II)

Per 31 Desember 2010 seluruh asct tetap (diluar tanh serta bangunan dan kendraan ertentu) dengan nilai buku sebesr Rp 7036423 juta diasuransikan terhadap rosika kebakran pencurian~ penjarahan dan huru hara bencana alam dan kecelakan dongan jumlah pertanggungan sebesar Rp 8095822 juta Manaj emen berkeyakinan bahwa jumlah pertanggungan asuransi ini memadai

Dalam tahun 2010 dan 2009 Perseroan dan anak perusahaan tclah mclakukan penjualan aset tetap sebagai berikut

2010

Nilai buku (4599) HasH penj ualan bersih 2972

(1627)(Rugi) lab penjuaJan aset tetap

Depreciation expense was charged 10 654095 Production costs

26988 Selling iJpeflSes

General and administraJive expenses

As of 31 December 2010 part of the Companys land and buildings 01 book value of Rp 20169 million are pledged as collaleral for the shorl-term loan from PT Bank Negara Indonesia Tbk (Note J1)

As of 31 December 2010 all fued assets (excluding land certain buildings and vehicles) at a total net book value of Rp 7036423 million were insured against the risk of fire theftJ civil commotion damage and riots natural disaster and accident for a total coverage of Rp 8095822 million Management believes that the total insurance coverage is adequate

In 2010 and 2009 the Company andsubsidiaries sold certain fiXed assets asfollows

2009

Net book value Net proceeds

(Loss) gain on sale offIXed assets

10 ASET TIDAK LANCAR LAIN-LAIN 10 OTHER NON-CURRENT ASSETS

2010 2009

Uang mnk pembeHn aset letap Uangjaminan Biaya dibayar dimuka Lainnya

345506 19050 11844 35000

411400

332872 27264

6135 247073

613344

Advancesfor the purchase affIXed assets Guarantee deposits

Prepaid expenses Others




TAHUN BERAKHIR 31 DESEMBER 2010 DAN 20091YEARS ENDED 31 DECEMBER 2010 AND 2009 (Dalamjutaan rupiah kecuali dinyatakan khususln millions ofrupiah unless otherwise specified)

11 PINJAMAN JANGKA PENDEK 11 SHORT-TERM LOANS

2010 2009

Perseroan memperoleh pinjamanjangka pendek dalam mata uang rupiah dari bankshybank berikut ini

PT Bank Negara Indonesia (Persero) Thk 995521 PT Bank Mandiri (Persero) Tbk 750000 PT Bank Central Asia Tbk 581421 The Hongkong and Shanghai Banking

Corporation Limited 300000 PT Bank OCBC NISP Tbk 55563 Citibank NA 742 Deutsche Bank AG 407 PT Bank CIMB Niaga Thk PT ANZ Panin Bank PT Bank DBS Indonesia The Bank of Tokyo - Mitsubishi UFJ Ltd PT Bank Intemasional Indonesia Tbk

2683654

Tingkat bunga tahunan 765middot 1225 Rata-rata tingkat bunga efektif tahunan per

akhir tahun 794

Seluruh pinjaman jangka pendek di atas merupakan penggunaan fasilitas pinjaman jangka pendek yang dapat diperpanjang (revolving)

Pada akhir 2010 pinjaman jangka pendek dari PT Bank Negara Indonesia Tbk dijamin dengan sebagian tanah dan bangunan Perseroan dengan nilai buku Rp 20169 juta

PeIjanjian pinjaman jangka pendek yang diperoleh Perseroan mencantumkan beberapa pembatasan antara lain sehubungan dengan ketaatan rasio keuangan dan persyaratan administrasi yang telah ditentukan

Informasi mengenai tanggat jatuh tempo dari pinjaman jangka pendek per 31 Desember 2010 adalah sebagai berikut

KrediturlLellders

PT Bank Negara Indonesia (persero) Thk

PT Bank Mandiri (persero) Tbk

PT Bank Central Asia Tbk The Hongkong and Shanghai Banking Corporation Limited PT Bank OCBC NISP Tbk Citibank NA Deutsche Bank AG

The Company obtained short-term loans in rupiah currency from the following

banks

772479 PT Bank Negara Indonesia (Persero) Tbk PT Balik Malldiri (Persero) Tbk

660283 PT Bank Central Asia Tbk The Hongkong and Shanghai Banking

250000 Corporation Limited PT Bank OCBC NISP Tbk

CWbank NA Deutsche BankAG

600000 PT Balik CIMB Niaga Tbk 350000 PTANZ Panin Bank 300000 PT Bank DBS Indonesia 150000 The Bank ofTokyo - Mitsubishi UFJ Ltd 100000 PT Bank Internasionai Indonesia Tbk

3182762

850 bull 1665 Annual interest rates A verage annual effective interest rate

968 at year end

The above outstanding short-term loans represent several drawdowns ofshort-term revolving credit facilities

At year end 2010 short-term loan from PT Bank Negara Indonesia Tbk is guaranteed by part ofCompanys land and bUildings with IIet book value ofRp 20169 million

The short-term loan agreements entered into by tile Company include certain restrictions among other things on compliance with determined financial ratios and administrative requirements

Information relating to due date of outstanding short-term loans as of31 December 2010 is asfollows

Jatub tempolDue dates

5 JanuarilJanuary 25 PebruarilFebruary 3 MaretMarch danand 27 September 2011 27 JanuariIJanuary 28 PebruarilFebruary danand 7 MaretMarch 2011 7 danand 8 MaretMarch 2011 17 JanuarilJanuary 2011 19 PebruarilFebruary 2011 24 Ju1iIJuly 2011 29 JulilJuly 2011



CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIINOTES TO THE CONSOliDATED FINANCIAL STATEMENTS

TAHUN BERAKHIR 31 DESEMBER 2010 DAN 2009YEARS ENDED 31 DECEMBER 2010 AND 2009 (Dalam jutaan rupiah kecuali dinyatakan khususln millions ofrupiah unless othenvise specified)

12 HUTANG USAHA 12 TRADEPAYABLES

Hutang usaha terulama bernsal dan pembelian bahan bakulpembantu

2010

Hutang usaha pada pihak kctiga 3~O~2

Hutang usaha pada pihak yang mempunyai hubungan istimewa (perusahaan aflliasi) PT Surya Zig Zag 20620 PT Trias Sentosa 7923 PT Taman Sriwedarf 2004 PT Halirn Wonowidjojo 1159 Lain-lain (masing-masing dibawah Rp 1 milynr) 280

Umur hutang usaha adaIah sebagai berikut 1 -30 har 348309 31-60hari 19678 61-90han 599 Lebih dari 90 har

Uhat Catatan 29 untuk rincian saldo dalarn valuta asing

Trade payables are mainly originated from purchase of rawsupplementary materials

2009

290517 Trade payables to third parties bull

Trade payables to related parties (affiliated companies)

27006 PTSurya Zig Zag 1680 PT Tnas Sentosa 2414 PT Taman Sriwedari

356 PTHalim Wonowidjojo 808 Others (below Rp 1 billion each)

The aging oftrade payables is as follows 308832 1 30 days

8118 31- 60 days 3873 61 - 90 days

Over 90 days

See Note 29for details ofbalances in foreign currencies

13 HUTANG PAJAK 13 TAXES PAYABLE

a Hutang pajak tcrdiri dari

2010

a Taxes payable consist of

2009

Perseroan Pajak Penghasilan Badan (pasal 25 dan 29) Pajak Penghasilan

Pasal21 Pasal22 Pasa12326

108592

2973 495

2923

128505

3550 3

1053

Company Corporate Income Tax (articles 25 and 29)

Income Tax Article 21 Article 22

Article 23126

PT Gudang Garaln Tbk 28



TAHUN BERAKHIR 31 DESEMBER 2010 DAN 20091YEARS ENDED 31 DECEMBER 2010 AND 2009 (Dalamiutaan rupiah keeuali dinytakan khususlln millions ofrupiah unless otherwise specifieli)

13 HUTAl~G PAJAK (Lanjntan) 13 TAXES PAYABLE (Colltil1ued)

2010

Anak perusahaau Pajak Penghasilan Badan (pasaJ 25 dan 29) Pajak Peughasilan Lainnya

43493 2847

~~~~ 161323

b Komponen beban (penghasilan) pajak adalah sebagai beriku

2010 Pajak kin

Perseroan 1341389 Anak perusahaan 103556

Pajak tangguhan Perseroan (19422) Anak perusahaan (9016)

1416507

c Rekonsiliasi antara laba akuntansi konsolidasi sebelum pajak dikalikan tarifpajak yang berlaku dengan beban pajak adalah sebagai bcrikut

2010

Labu akuntansi konsolidasi sebelum pajak 5631296 Tarifpajak yang berlaku 25

1407824 Pengaruh pajak dari perbedaan pennanen

Perseroan 10076 Anak perusahaan (l621)

8455 Pengaruh perubahan peraturan pajak (Catatan 13g)

Perseroan Anak perusahaan

Perubahan penyisihan aset pajak tangguhan 228 Bebanpajak

2009

Subsidiaries 53703 Corporate Income Tax (articles 25 and 29)

1138 Other Income Taxes

187952

b The components ofincome lox expense (benefit) are as follows

2009 Current

1341753 Company 79488 Subsidiaries

Deferred (70233) Company

(8696) Subsidiaries

1342312

c The reconciliation between the consolidated accounting profit before tax multiplied by the marginal tax rate and income tax expense is as follows

2009

4828213 Consolidated accounting profit beore tax 28 Enacted marginal tax rate

1351900 Tax effic ofpenn anent differences

(16266) Company (2907) Subsidiaries

(19173) Effoct ofchonge in tax regulation (Note 13g)


Changes in valuation ollowance ofdeferred 179 tax assets

Income tax expense

PT Gudang Goram Tbk 29


CATATAN ATAS LAPORAN KEUANGklt KONSOLIDASIINOTES TO THE CONSOUDATEDFINANCIAL STATEMENTS

TAHVN BERAKHIR 31 DESEMBER 2010 DAN 20091YEARS ENDED 31 DECEMBER 2010 AND 2009 (Dalamjutaan rupiah kecuali dinyatakan khususlln millions ofropiak unless otherwise specified)

13 HUTANG PAJAK (Lanjutan) 13 TAXES PAYABLE (Colltillued)

d Rekonsilias fiskal Perseroan adalah sebaga berikut d The Company$ fiscal reconciliation is asfollows

Laba akuntansi konsolidasi sebelum pajak Laba sebelum pajak anak perusahaan Laba akuntani ebelorn pajak Perseroan

Perbcdaan permanen Sumbangan Penyuutan aset yang tidak boleh

dikurangkan Pendapatan bunga dan ewa Lainnya Jumlab perbedaan pennanen

Perbedaan temporer Laba belum terealisas dalam parsedian Kewajiban 1mbalan pascamiddotkaIja Laba penjualan aset letap Penyusutan asct tetap Jumlah perbedaan temporer

Laba ken pajak Perseroan Tarifpajak yang berlaku Behan pajak Idni Pcrseroan

Pajak dibayar dlmuka Perseroan PPh pas122 PPh pasal23 PPh psal25

Hutang Pajak Penghailan Badan (pasa129) Perseroan

2010

5631296 (383732)

~~l~

14815

17474 (16913) 24927

~9~9~

106216 62444

(52) (90920)

Z~~~ 5365555

25 1341389

(58095) (95)

(1281892) (1340082)

1307

2009

4828213 (259078)

~s~~~~

11905

4788 (82677)

7893

~22))

338405 66098 (2243)

(121330)

z~~o 4791974

28 1341753

(58276) (95)

(1154877) (1213248)

128505

Consolidated accounting profit before tax Subsidiaries income before tax

Accounting profit before tax ofthe Company

Permanent differences Donations

Depreciation 0certain flXed assets which is non-deductible

Interest and rental income Others

Total permanent differences

Temporary differences Unrealized profas in inventories

Obligation for post-employment benefits Gain on sale offIXed assets Depreciatioll 0fzced assets Total temporary differences

Taxable profit ofte Company Enacted marginal tax rate

Current tax expense ofthe Company

Prepaid income taxes 0the Company lncome tax article 22 Income tax article 23 Income tax article 25

Corporate Income Tax payables (aricle 29) of th CompaY

Dalam laporan keuangan konsolidasian in Jumlah penghasilan In these consolidated financial statements the amount of taxable kena pajak didasarkan alas perhitungan sementara1 karena income is based on preliminary calculations as the Company has Perseroan beJurn menyampaikan Surat Pemberitahuan Tahunan yet to submit its fihfJi corporate income tax returns (SPT) pajak penghasilan badan final



CATATANATASLAPORANKEUANGANKONSOLlDASllNOTESTOTHECONSOLIDATEDFINANCIALSTATEMENTS

TAHUN BERAKHIR 31 DES EMBER 2010 DAN 20091YEARS ENDED 31 DECEMBER 2010 AND 2009 (Dalam jut n rupiah keeuali dinyatakan khuBusIn millions ofrupiah unless otherwise specified)

13 HUTANG PAJAK (Lanjutan) 13 TAXES PAYABLE (Continued)

e Perbedaan temporer yang membentuk bagian signifikan dati aset dan kewajiban pajak tangguhan per 31 Desember 2010 dan 2009 adalah sebagai berikut

2010

Ase pajak tangguhan nnak porusahaan bersih 6083

Asel (kewajiban) pajak tangguhan Porseroan Laba be]um tereaHsasi dalam persediaan 111155 Kewajiban imbalan pasca-kerja 147947 Aset tetap (517301)

Kewajiban pajak tangguhan Perseroan bersih (258199)

Kewaj iban pajak angguhan anak parusahaan bersih (37263)

(295462)

f Sesuai peraturan perpajakan di Indonesia Perseroan dan anak perusahaan melaporkanlmenyeorkan pajak untuk setiap parusahaan sebagai suatu badan hukum yaag terpisah berdasarkan sistem self-assessment Fiskus dapat menetapkanJ mengubah pajak-pajak tersebut dalm batas waktu yang ditentukan sesuai dengan ketentuan yang berlaku

g Tanggal 23 September 2008 Presiden Republik Indonesia mengesahkan Undong-Undang PajakPenghasilan No 3612008 yang merupakan amandemen dari Undang-Undang Pajak Penghasilan No 711983 Perubahan signifikan yang diatur dalam amandemen tersebut adalah perubahan tarif pajak penghasilan perusahaall menjadi tariftunggal yaitu 28 untuk tahun fiskal 2009 dan 25 untuk tahun fiskal 2010 dan seterusnya

Aset dan kewajiban pajak tangguhan per 31 Desernber 2010 dan 2009 telah dihitung dengan memperhilungkan perubahan tarif pajak di atus

e The items that give rise to significant portions ofthe deferred lax assets and liabilities as of31 December 2010 and 2009 are as follows

2009

18 Deferred tax assets ofsubsidiaries net

Dejimmiddoted tax asset (liabilities) oftile Company 84601 Unrealized profits in inventories

132336 Obligation for past-emplaymenl benefits (494558) Fixed assets

(217621) Deferred tax liabilities ofthe Company net

(43314) Deferred lax liabilities ofsubsidiaries net (320935)

f Under the taxation laws of [ndollesia the Company and subsidiaries submitpay individual company tax returns on the basis of self-assessment The tax authorities may assess or amend taxes within the statute of limitations under prevailing regulations

g On 23 September 2008 the President of Republic of Indonesia approved the Income Ta Law No 3612008 which is the amendment of the Income Tax Law No 711983 The significant change stipulated in the amendment is revision of corporate income tax rate to a single rale ie 28for fiscal year 2009 and 25forfiscal year 2010 and hereafter

Deferred tax assets and liabilities as of 31 December 2010 and 2009 hove been calculated by taking into account the above-mentioned change ill enacted tax rate

14 HUTANG CUKAI DAN PPN ROKOK 14 EXCISE DUTYAND VAT PAYABLES

2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609

RtCise duty ribbons VAT on cigarettes

4962877 4028717



CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASINOTES TO THE CONSOllDATED FINANCIAL STATEMENTS

TAHUN BERAKHIR31 DESEMBER 2010 DAN Z009YEARS ENDED 31 DECEMBER 2010 AND 2009 (Dalam jutaan rupiah kecuali dinyatakan khususlln millions ofrupiah nless otherwise specified)

15 BEBAi~MA8IHIlARU8DIBAYAR 15 ACCRUED EXPENSES

ZOIO 2009

Beban pemasaran Beban bung Lain-lain

7050 23813 20815 51678

46916 46619 20499

114034

Marketing expenses Interest expense

lIJiscelianeCtus

Liht Catatan 29 untuk rincian saldo dalm valuta asing See Note 29 for details ofbalances inoreign currencies

16 KEWAJIBAN LAllCAR LAIN-LAIN 16 OTHER CURRENT LIABIIJTIES

2010 2009

Hutang pembelian set tetap Uang jaminan distributor Lainnya

128405 97480 21468

247353

21075 78366 25592

125033

Payables for the purchase offltxed assets Distributors guarantee deposits

Others

Lihat Catatan 29 untuk rincian sa1do dalam valuta asing See Note 29for details ofbalances in foreign currencies

17 IMBALANPASCA-KERJA 17 POST-EMPLOYMENT BENEFITS

Seuai dengan UndangmiddotUndang Republik [ndonesi No 13i 2003 tentang Ketenagakefjaan Perseroan dan anak perusahaan wajib mernberikan imbalan pascamiddotkeIj kepada karyawannya pada saat pemutusan hubungan kerja urau pada saat karyawan pensiun Imbalan pasca-keIja ini diberikan berdasarkan masa kerja dan kompensasi karyawan pada saat pemutusan hubungan kerja atau pensiun

Perhltungan las kewajlban Imbalan paseamiddotkerja per 31 Desember 20 1 0 dan 2009 dilakukan oloh PT Towers Watson Purbajaga (sebelumnya PT Watson Wyatt Purbajaga) sobagal aktuaris independen dengan a5umsi utarna sebagai bern~ut

2010

Tjngkat diskonto per tabun 850 Tingkat kenaikan kompensasi per tahun 800

In acwniance with Law of the Republic of Indonesia No 131 2003 relating to laoor regulations the Company and subsidiaries are required to provide post-employment benefits to their employees when their employment is terminated or when they retire These beneus are primarily based on years ofservice and the employees I compensation at termination or retirement

Calculation of obligation for post-employment benefits as of 31 December 2010 and 2009 are performed by PT Towers Watson Purbajaga (previously PT Watson Wyatt Purbajaga) as the independent actuary with main assumptions as follows

2009

1075 Discount rate per annum 800 Future compensation increases per annum



CATATAN ATAS LAPORAllt KEUANGAN KONSOLIDASlJNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

TAHUN BERAKHIR 31 DESEMBER 2010 DAN 2009YEARS ENDED 31 DECEMBER 2010 AND 2009 (Dalamjutaan rupiah kecuali dinyatakan khususlln millions ofrupiah unless otherwise specified)

17 IMBALAN P ASCA-KERJA (Lanjutan) 17 POST-EMPLOYMENT BENEFITS (Continued)

Tabel berikut rnenyajikan kewajiban imbalan pasc-keIja yang The following table summarizes the obligation for postshytercatat di neraca konsolidasi mutasi ke~ajiban imbalan paseashy employment benejits as rejieced in the consolidaed balance korjn dan beban yang diakui dlam Iaporan lab rugi konsolidasi sheets movement in the obligation during the year and expense tahun berakhir 31 Desemher 2010 dan 2009 recognized in the consolidated statemenls 0 income for the

years ended 31 December 2010 and 2009

2010 2009

Nilai kini kewaiiban bersih imbalan pa5ca-kerja 1025692 7887 Present value ofnet obligation Bebaniasa lalu yang belurn diakui Unrecognized past service cost

non-vested (179861) (200268) non-vested Kerugian aktuaria yang belum diakui (201823) (22489) UnrecogtlL-ed actuarial losses Kewajiban imbalan pasca-kerja 644008 566210 Obligation for JlMt-employmeU benefits

Kewajiban imbalan pasea-kerja Obligation for post~employmellt awal tahun 566210 485966 benefits beginning ofyear

Beban imbalan pasca~kerja selama Post-employment benefits expense tahun berjalan 149929 142098 recognized during the year

Imblan pasca-kClj yang dibayar elam AClual post-employment benefits paid during tahun berjalan (72131) (61854) theyear

Kewajiban imbalan pasca-kerja Obligation for post employment akhir tabun 644008 566210 benefits end ofyear

Beban iasa kini 49172 45608 Current service costs Beban bunga 80775 76500 Interest on obligation Keuntungan aktuafla yang diakui (428) (420) Recognized actuarial gain Amortisasi beban jasa Ialu 20410 20410 Amortization ofpast service cost

149929 142098

18 MODAL SAHk)f 18 SHARE CAPITAL

Modal dasar Authorized capital Jumlah saham 2316000000 sabamshares Number ofshares Nilai nominal per ham (dalamrupiah penuh) Rp500 Par value per share (in whole rupiah) Jumlah nominal Rp 1158000 jutamillion Total par value

Modal ditempatkan dan disetor penuh Issued and paid-up capital lumlah saham 1924088000 sahamlshares Number ofshares Jumlab nominal Rp 962044 jutamillion Total par value

PT Gudang Gorum Tbk 33


CATATAN ATAS LAPORAN KBUANGAN KONSOLIDASIiNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

TANUN BERAKHIR 31 DESElvIDER 20 10 DAN 20091YEARS ENDED 3i DECEMBER 200 AND 2009 (Dalarnjutaan rupiah) kecuali dinyatakan khususlln millions ofrupiah unless otherwise specified)

18 MODAL SAHAM (Lanjutan) 18 SHARE CAPITAL (Continued)

Susunan pernegang saham Perseroan per 31 Desember 2010 dan The composition of the Companys shareholders as of 2009 adalah sebagai berikut 31 December 2010 and 2009 is asfollows

2010 Jurnlah saham Jum1ah nominall

Pernegang saharn Number oshares Par value Sharehoiders

Rp julalmilion

Ny Juni Setiawan Wonovidjojo 10001800 5001 052 Mrs Juni Setiawati Wonowidjojo

Tn Susilo Wonowidjojo 5460400 2730 028 Mr Susilo Wonowidjojo

PT Buryadum Investama 1333146800 666574 6929 PTSwyaduta InVeStama

PT Suryamitra Kusuma 120442700 60221 626 PTSwyamitra Kusuma

Lainnya 455036300 2365 Ohe

1924088000 10000

2009 Jurnlah saham Jurnlah nominali

Pernegang saham Nwnber ofshares Par value Shareholders

Rp juralmillion

~y Juni Setlawati Wonowidjojo 10001800 5001 052 Mrs Juni Setiawati WOllowidjojo


PT Suryaduta Investarna 1285320000 642660 6680 PISuryaduta Inveslama

PT Suryarnitra Kusuma 120442700 60221 626 PTSuryamitra Kusmna

Lainnya 502863100 2614 Others

1924088000 10000

19 AGIO SAHAM 19 CAPITAL PAID INEXCESS OF PAR

Mcrupakan selisih antarn harga penawaran saham Rp 10250 (rupiah penuh) per ham dengan nHai nominal Rp 1000 (rupiah penuh) per saham dari 57807800 saham yang dijual dalam masa penowaran perdana 21 Juli - 3 Agustus 1990 dimana sejurnlah Rp 481022 juta tclah direklasifikasi menjadi modal saham dengon pengIuaran harn bonus dalam tahun 1996 (Calatan 1)

Represents the premiturJ as a result of the difference between offering price of Rp 10250 (whole rupiah) and par value of Rp 1000 (whole rupiah) per share from 57807800 shares soid during the initial public offering period of 21 July - 3 Angusl 1990 afwhich Rp 481022 million has been reclassified 10 share capital through the issuance afbonus shares in 1996 (Note i)

20 SALDO LARA DICADANGKAN 20 APPROPRIATED RETAINED EARNINGS

Merupakan penyisihan cdangan wajib yang dibentuk untuk Represents the stalulO1Y reserve which was set tip to comply with memenuhi ketentuan Undang-Undang Perseroan Terbatas the provisions ofIndonesiall Company Law



CATATAN ATAS LAPORAN KEU~IG~1 KONSOLIDASIfNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

TAHUN BERAKHIR 31 DESEMBER 2Q1O DAN 20091YEARS ENDED 31 DECEMBER 2010 AND 2009 (Dalamjutaan rupiah keeuali dinyatakan khususlln milliollS ofrupiah unless otherwise specified)

21 PENJUALANPENDAPATAN USAHA 21 SALESOPERATING REVENUE

2010

Merupakan penjualanlpendapatan usaha bersih (setelah dikurangi retur penjualan dan potongan penjualan)

Ekspor Sigaret kretek mesin 1381773 Sigaret kretek tangan 4022 Kertas karton 490556 Lainnya 35824

I~n Lokal

Sigaret kretek mcsin 30247267 Sigaret kretek tangan 4787138 Rokok klobot 35542 Kertas karton 543926 Lainnya 165949

x~~~ Jumlah

Sigaret kretek mesin 31629Q40 Sigaret kretek tangan 4791160 Rokok klobot 35542 Kertas karton 1034482 Lainnya 201773

37691997

Dalam tahun 2010 dan 2009) Perseroan dan anak perusahaan melakukan penjuaan pact pihk yang mempunyai hubungan istimewa (perusahaan afiliasi) sebagai berikut

lumlahlAmount

PT Menara Kartika Bmma 48225 57561 PT Karya Niaga Bersama 46950 34657 PT Halirn Wonowidjojo 4787 1758 PTGandurn 1338 51409 PT Surya Jay Bhakti 1679690 PT Sury Bhakti UIrna 2986699 PT Panverta Calera Kencana 3914 Lain-lain (masing-masing

dibawah Rp 1 milyar) 733

200lt)

Represent net salesoperating revenue (afler deduction ofsales returns and

sales discounts)

Export 1385709 Machine-made dove cigarettes

5097 Hand-rolled clove cigarettes 436021 Paperboard 23525 Others

Iamp5Q3S3 Domestic

26347207 Machine-made clove cigarettes 4032075 Hand-rolled clove cigarettes

33322 Klobnl (corn silk) clove cigarelles 517379 Paperboard 192745 OtMrs

3II221~8 Tolal


33322 Klobot (corn silk) clove cigarelles 953400 Paperboard 216270 Others

32973080

In 2010 and 2009 the Company and subsidiaries engaged in sales transactions with related parties (affiliated companies) as follows

Persentase dan total penjualanlPercentagefrom

total sales 2010 2009

013 Oli PT Menara Kartika Buono 012 011 PT Karya Niaga Bersama 001 001 PTHalirn Wanawidjojo

0 016 PTGandum 0 509 PTSurya Jaya Bhakti 0 906 PT Surya Bhakti Utaa 0 001 PT Panverta Cakra Kencana

Others (below Rp 1 billion 0 0 each)

027 1461

Dalam tahun 2010 dan 2009 tidak ada penjuaan padapendapatan In 2010 and 2009 no salesoperating revenue earned from usaha dari pelanggan yang rnelebihi 10 dari jumlah any customer exceeded 10 of total salesoperatingpenjualanpendapatan usaha revenue


PT GUDAt~G GARAM Tbk DAN ANAK PERUSAHAANI PT GUDANG GARAM Tbk AND SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN KONSOUDASIINOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

TAHUN BERAKH1R 31 DESEMBER2010 DAN 20091YEARSENDED 31 DECEMBER 2010 AND 2009 (Dalarn jutaan rupiah kecuali dinyatakan khususln millions arupiah unless otherwise specified)

22 BEBAN POKOK PENJUALAN 22 COST OF SALES

2010 Rokok dan kertas karton

Behan produksi langsung Bahan baku yang digunakan 6514917 Upah langsung 678850

Beban produksi tak langsung 1476270 lumlah beban produksi 8670037

Persediaan awal barang dalam pengolahan 114510 Persediaan akhir barang dalam pengolahan (154670) Behan pokok produksi 8629877 Pita euka dan PPN rokok 20789212

29419089 Persediaan awal barangjadil

dagangan 1944901 Pembelian barang dagangan 19993 Persediaan akhir barang jadil

dagangan (2613976) Barang jadi untuk promosi dan lain-lain (111972) Beban pokok penjualan rokok dan kertas karton 28658035

Beban pokok penjualan lain-lain 168375 28826410

Dalam tahun 2010 dan 2009 Perseroan dan anak perusahaan melakukan pembelian dari pihak yang mempunyai hubungan istimewa (perusahaan afiliasi)) sebagai berikut

2010

PT Surya Zig Zag 165492 PT Trias Sentosa 44475 PT Halim Wonowidjojo 19993 PT Taman Srtwedari 19531 PT Lidjen 4863 PT Primabox Adipcrkasa 3864

258218

Dalarn tahun 2010 dan 2009 tidak ada pembelian dari pernasak yang melebihi 10 dad jumiah seturuh pembelian

5754588 Raw materials used 631879 Direct labor

1423056 hldirecl production costs 7809523 Total production costs

63910 Beginning balance ofgoods ill process (114510) Ending balance ofgoods in process

7758923 Cost ofgoods mamifactured 19243020 Excise duty ribbons and VAT on cigarettes 27001943

Beglmling balance offini1hed goods 593040 merchandise inventories

6737 Purchase ofmerchandise inventories Eliding balance offinished goods

(1944901) merchandise inventories (35540) Finished goodsor promotion and others

25621279 Cost asales ofcigarettes andpaperboard 186285 Cost ofother sales

25807564

In 2010 ond 2009 Ihe Company and subsidiaries engaged in purchase transactions with related parties (affiliated companies) as follows

2009

2009 Cigarettes and paperboard Direct production costs

147382 PT Swya Zig Zag 38462 PT Trias Sentosa

6737 PT Halim WonowUfjojo 17950 PT Taman Sriwedari

1355 PT Liqjen 3040 PT Primabo Adiperkasa

214926

In 2010 and 2009 no purchases from any supplier exceeded 10 oftotal purchases

PT Gudang Garnm Tbk 36

PT GUDANG GARAM Tbk DAN ANAK PERUSAHAANf PT GUDANG GARAM TbkAND SUBSIDIARIES


TAHUN BERAKHIR 31 DESEMBER 2010 DAN 20091YEARS ENDED 31 DECEMBER 2010 AND 2009 (Dalamjutaan rupiah kecuali dinyatakan khususlln millions arupiah unless otherwise speciflecl)

23BEBAN PENJUALAN 23 SELLING EXPENSES

2010 2009

Transportasi pengangkutan iklan promosi dan beban pemasaran lainnya

Kompensasi karyawan Keperluan kantor perbaikan dan pemeliharaan Penyusutan aset tetap Lain~lain

24 BEBAN UMUM DAN ADMThISTRASI

Kompensasi karyawan Pcrbaikan dan pemeHharaan Listrik dan air Penyusutan aget tctap Keperluan kantor komunikasi

jasa profesional Asuransi Perjalanan dinas akomodasi Surnbangan jamuan tamulatensi relaSt

Pajak Bum dan Bangunan Lain~lain

1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558

Transportation freight advertising promotion and other marketing expenses

Employees compensation Office supplies repairs and maintenance

Depreciatjon offIXed assets Miscellaneous

24 GENERAL AND ADMINISTRATIVE EXPENSES

2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115

Employees compensation Repairs and maintenance

Utilities Depreciation affIXed assets

Office supplies communication professanafees

insurance Travelling accommodation

Donations entertainment Tax on Land and Building

Miscellaneous 1174324 928121

Kompensasi direksi dan komisaris Perseroan yang termasuk di The compensation of the Companys directors and dalam beban umum dan administrasi pada tahun 2010 dan 2009 commissioners included in general and administrative adalah masing-masiug sebesar Rp 40818jula dan Rp 40312 jut bull expenMs in 2010 and 2009 were Rp 408J8 milliOIl and

Rp 40312 million respectively

25 LABA PER SAHAM 25 EARNINGS PER SHARE

Laba usaha (dalamjutaan rupiah) Laba bersih (dalamjutaan rupiah) JumJah rata-rata tertimbang saham beredarl

ditempatkan (dalam ribuan saham) Laba usaha per saham (dalam rupiah penub) Laba bersih per saham (da]am rupiah penuh)

2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796

Operating profit (in milliolls ofrupiah) Net profit (in milliolls afrupiah)

Weighted average 0total outstanding issued shares (in thousands ofshare)

Operating profit per share (il1 whole rupiah) Nel profa per share (in whole rupiah)

PT Guaog Gurum Tbk 37


CATATAN ATAS LAPORAN KEUAKGAK KONSOLIDASllNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

TAHLIN BERAKHIR 31 DESEMBER 2010 DAN 20091YEARS ENDED 31 DECEMBER 200 AND 2009 (Dalamjutaan rupiah kecuali dinyatakan khususlln millions arupiah unless otherwise specijiet)

26 DlVIDEN KAS 26 CASH DIVIDENDS

Rapat Uroum Pemegang Saharn Tahunan Perseroan tanggal 17 Juni 20 I 0 (risalah dibuat oleh notaris Siti Nurul Yuliami SH MKn dengan akte No 29) memutuskan untuk membagikan dividen kas sejumlah Rp 1250657 juta [Rp 650 (rupiah penuh) per sahamj

Rapat Umum Pemegang Saham Tahunan Perseroan tanggal 20 Juni 2009 (risalah dibuat oleh notris Siti Nurul Yuliami SH MKn dengan akte Ko 72) memutuskan untuk membagikan dividen klIs sejumlah Rp 673431 juta [Rp 350 (rupiah penuh) per aham]

27 TRANSAKSI HUB1JNGANISTIMEWA

The Annual General Shareholders Meeting of the Company Oil 17 June 2010 (minutes prepared by notary public Sitl Nurui Yuliami SH MKn by deed No 29) resolved to declare cash dividends in the amount of Rp 1250657 million [Rp 650 (wilde rupiah) per share

The Annual General Shareholders Meeling of the Company on 20 June 2009 (minutes prepared by notary public Siti Nurul Yuiami SH MKIl by deed No 72) resolved to declare cash dividende in the amoullt of Rp 673431 million [Rp 350 (whole rupiah) per share]

27 RELATED PARTY TRANSACTIONS

Ikhtisar transaksi dan saldo yang signifikan dengan pihakpihak Summary osignificant transactions and balances with related yang mempunyai hubungan istimewa adalah sebagai berikut parties is as follOViSmiddot

2010 2009 Jumlahl Jumlah Amount Amount

Penjnalan (Catatan 21) 102033 027 4816187 1461 Sales (Nole 2]) Pembelian barang (Catalan 22) 258218 3 214926 3 Purchases ainventories (Note 22) Saldo pintang usaha (Catalan 4) 21193 2 36281 4 Balance oftrade receivables (Note 4) Saldo hntang usaha (Catalan 12) 31986 9 32264 10 Balance oftrade payables (Note ]2)

Semua transaksi dengan pihakpihak yang mempunyai hubungan All transactions with these related parties are conducted on an istimewa tersebut dHakukan dengan persyaratan dan kondisi yang arms length basis wajar (arm 5 length)

PT Gudang Garam 10k 38



TAHUN BERAKHIR 31 DBSEMBER2010 DAN 2009IYEARS ENDED 31 DECEMBER 2010 AND 2009 (Dalamjutaan rupiah kecuali dinyatakan khusUSln millions ofrupiah unless othenvise specified)

28 INFORMASI SEGMEN 28 SEGMENT INFORMATION

Menurut segmen usaha By business segment 2010

PENJUALAN Pihak ekstemal Antar segmen Jurolah penjualan

HASIL Hasll segmen

Behan bungs Bagian l~g bersih perusahaan

aSOSlas

Laba sebelum pajak penghasllan

Beban pajak Laba sebelum hak minoritas Hak minoritas alas laba bersh

anak perusahaan Laba bersih

ASET DAN KEWAllBAN Aset segmen Investasi pada perusahaan asosiasi Jumlah aset

Kewajiban segmen

INFORASI SEGMEN LAlNNY A PeroJehan aset tetap

PenYU5utan dan amortisasi

Menurut segmen geografis

Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010

Eliminasil Eliminations

(387151) (387151)

3555

(83126)

(83116)

(69996)

Konsolidasi Consolidated

37691997 SALES

Externnl customers Inter-segment

Total sales

PROFIT Segment profit

(238285) Interest expamplse Shares in loss

ofassociated company

563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX

Income tax expense Profit before minority interest

Minonty intererl in subsidiarjes net profit

NetprofiJ

ASSETS AND LIABIliTIES Segment assets

investment in associated company Total assets

Segment liabilities

OTHER SEGMENT INFORMATION Capital expenditures

Depreciation and amortization

By geographic segment

Indonesia Di luar lndones[aI )umlahl Indonesia Outside Indonesia Total

Penjualanlpendapatan usaha Rokok Kertas karton Lain-Jain

35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_

SaipoundsJoperating revenue Cigarettes

Paperboan1 Others

ABet Assets Rokok Kertas karton Lain-lain

29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79

CigareJles Paperboard

Olhers

Perolehan aset terap Rokok Kertas karton

1186712 1186712 _---656-0 ____~__TT16~56O

Capital expenditlmts Cigarettes

Paperboard 1193272 _===== ==j1~93272

PT Gudang Garum 1Ik 39


CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASINOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

TAHUN BERAKHIR 31 DES EMBER 2010 DAN 2009YEARS ENDED 31 DECEMBER 2010 AND 2009 (Dalam jutaan rupiah keltuali dinyatakan khususlln millions ofrupiah unless otherwise specified)

28 INFORMASI SEGMEN (Lanjutanl 28 SEGMENT INFORMATION (COlltillued)

Menurut segmen usaha

PENJUALAN Pihak eksternal Antar segmen Jumiah penjuaJan

Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers

Eliminasi Eliminations

(367442) (367442)

Konsolidasil Consolidated

32973080

32973080

By business segment

SALES External customers

Inlersegment Total sales

HASIL HasH segmen 137895 191 (8342) 5273983


Beban bunga 8agian ~g~ bersih perusahaan

asOSta51 Laba sebelum pajak

penghasilan Beban pajak

Laba sebeJum hnk minoritas

Hak minoritas atas laba bersih anak perusahaan

Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J

intenst expense Shares in loss

oj(JssacilJted company

Ptofit before lax income tax expense

Profit beore mtnorlf)llntcrest Minority interest in

sUbsidiaries netprofit

Netprofit

ASET DAN KEWAJIBAN tltetsegmen

Invtstasi pada perusubaan asosiasi lumlah aset

26094682 1201050

1201050

249825 (323863)

(323863)

27221694 ASSETS AND UABILITIES

Segment assets investment in

associated company Total assets

Kewajiban segmen 867270J 238828 (63218) Segment li(1hilitie~

lNFORMASI SEGMEl LAINNYA OTHER SEGMENT INFORMATION Perolehan aset tetap 1136443 8467 3100 1148010 Capital expenditures

Depredation and Penyusutan dan amortisasi 706975 27874 734849 amortization

Menurut segmen geografls 2009


Indonesia Di IUa IndoneSIa Jumlahl indonesia Outside Indonesia Tolill

Penjualanlpendapatan usaha Rokok Kertas karron

30604071 518657

1414331 436021

32018402 954678

Salesoperating revenue Cigarettes

Paperboard 31122728 J85035~ 32973080

Aset Assefs Rokok Kertas kafton Lain-lain

26077997 1137832

15136

26077997 1137832

J5136

Cigarettes Paperboard

01hers 27230965 27230965

Perolehan aset tetap Rokok Kertas karton LainMlain

1136443 8467 3100

1136443 8467 3JOO

Capital expenditures Cigarettes

Paperboard Others

1148010 1148010



CATATAN ATAS LAPORAN KELANGAN KONSOLIDASJINOTl1S TO THE CONSOLIDATI1D FINANCIAL STATEMENTS

TAHIDI BERAKHIR 31 DESEMBER 2010 DAN 20091YEARS ENDED 3] DECEMBER 20]0 AND 2009 (Dalamjutaan rupiah kecuali dinyatakan khususlln millions arupiah unless otherwise specified)

29 ASET DAN KEWAJIBAN KEUANGAN 29 FINANCIAL ASSETS AND LIABILITIES

Klasifikasi dan nilai wajar Classificatioll andfair value

Per akhir tabun aset dan kevajiban keuangan Perseroan dan anak perusahaan adalah sebagai berikut

2010

Aset keuangan Pinjaman yang diberikan dan piutang

Kas dan setara kas 1249249 Piutang usaha 903739 Piutang lain-lain 1

Kewajiban keuangan Kewajiban keuangan lainnya

Pinjaman jangka pendek 2683654 Hutang usaha 375048 Beban rnasih harus dibayar 51678 Kewajiban lancar lain-lain

Kecuali kas dan setara kas dan pinjaman jangka pendek scluruh asct dan kewajiban keuangan lainnya tidak mengandung bunga

SelllTuh aset dan kewajiban keuangan Perseroan dan anak perusahaan diharapkan dapat terealisasi atau diselesaikan dalam waktu dekat Nita tercatat diperkirakan mendekati nHai wajar karena dampak dad diskonto tidak signifikan

Manajcmcn risiko kcuangan

Risiko utatna yang timbu dad aset dan kewajjban keuangan Perseroan dan anak perusahaan adalah fisiko kredit risiko likuiditas risiko tingkat bunga dan risiko nilai tukar mata uang asing

At year end financial assets and liabilities of the Company and subsidiaries consist otheollowing

2009

Financial assets Loans and receivables

1222897 Cash and cash eqUivalents 1013373 Trade receivables

Other receivables

Financial liabilities Other financial liabilities

3182762 Short-term loans 322781 Trade payables 114034 Accrued expenses

Other current liabilities

Exceptor cash and cash equivalents and short-term loans all otherfinancial assets and liabilities are non-interest bearing

All financial assets and liabilities 0 the Company and subsidiaries are expected to be realized or settled in near enn The calryirtg amounts approximate the fair values as the impact 0discounting is not signiflCant

Fillullcial risk mallagemel1t

The main risks arising from the finoncial assets and liabilities ofthe Company and subsidiaries are credit risk liquidity risk interest rate risk and foreign exchange risk

The credit risk ofthe Company and subsidiaries mainly from deposits with banks and risk of loss if customers fail to discharge their contractual obligations

The Company and subsidiaries minimize credit risk from deposits with banks by placing their funds only in banks of good standing

Risiko kredit Perseroan dan anak perusahaan terutama dari simpanan di bank dan risiko kerugian yang muneul apabila pe1anggan gagal memenuhi kewajiban kontraktual mereka

Perseroan dan anak perusahaan merrtinimalisir fisiko kredit daTi simpanan di bank dengan menyimpan dana hanya pada bank yang memiliki repulasi baik


PT GUDANG GARAM Tbk DAN ANAK PERUSAHAANf PT GUDANG GARAM Tbk AND SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASVNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

TAHUN BERAKHIR 31 DESEMBER 2010 DAN 20091YEARS ENDED 31 DECEMBER 2010 AND 2009 (Dalam jutaan rupiah kecuali dinyatakan khususlln millions ofrupiah unless otherwise specified)

29 ASET DAN KEWAJIBAN KEUANGAN 29 FINANCIAL ASSETSAND LIABILITIES (Lanjutan) (Continued)

Perseroan dan anak perusahaan meminimalisir fisiko kredit dari piutang dengan menetapkan uang jaminan dan batasan jumlah piutang yang dapat diberikan Risiko ini juga dikelola dengan pengawasan berkesinambungan atas jumlah dan status ketertagihan piutang tersebut

Tidak terdapat risiko kredit yang terpusat secara signifikan karena Perseroan dan anak perusahaan memiliki banyak pelanggan tanpa adanya pelanggan individu yang signifikan

Ekposur maksimum Perseroan dan anak perusahaan atas risiko kredit adalah sebesar nilai tercatat bersih dari tiap aset keuangan di neraca konsolidasi

Risiko likuiditas

Perseroan dan anak perusahaan dapat terekspos terhadap risiko likuiditas apabila ada perbedaan waktu signifikan antara penerimaan piutang dengan penyelesaian hutang dan pinjaman

Perseroan dan anak perusahaan mengelola risiko likuiditas dengan pengawasan proyeksi arus kas dan arus kas aktual secara berkesinambungan serta menjaga keeukupan kas dan setara kas dan fasilitas pinjaman yang tersedia Risiko ini juga diminimalisir dengan mengelola berbagai sumber pembiayaan dari para pemberi pinjaman yang dapat diandalkan

Risiko tingkat bunga

Risiko tingkat bunga Perseroan dan anak perusahaan berasal dari simpanan di bank dan fasilitas pinjaman yang didasarkan pada tingkat bunga mengambang

Perseroan meminimalisir risiko tingkat bunga dari fasilitas pinjaman dengan mempertahankan fasilitas pinjaman dari berbagai pemberi pinjaman dan pengawasan pergerakan tingkat bunga pasar Perseroan mengelola risiko ini dengan penggunaan tingkat bunga tetap untuk liap pinjaman yang disepakati pada tanggal penarikan atau perpanjangan

Risiko nilai tukar mata uang asing

Transaksi pembelian aset tetap dan persediaan menyebabkan Perseroan dan anak perusahaan memiliki risiko nilai tukar mata uang asing Risiko ini dikurangi dengan melakukan penjualan ekspor

The Company and subsidiaries mmumze credit risk from receivables by obtaining guarantee deposits and setting credit limits This risk is also managed by ongoing monitoring over the balance and collectability ofthe receivables

There is no significant concentration of credit risk as the Company and subsidiaries have a large number of customers without any significant individual customer

Maximum exposure ofthe Company and subsidiaries to credit risk is represented by net carrying amount of each financial asset in the consolidated balance sheets

Liquidity risk

The Company and subsidiaries would be exposed to liquidity risk ifthere is a significant mismatch in the timing ofcollection ofreceivables and the settlement ofpay abies and borrowings

The Company and subsidiaries manage the liquidity risk by ongoing monitoring over the projected and actual cash flows as well as the adequacy of cash and cash equivalents and available credit facilities This risk is also minimized by managing diversified funding resource from reliable high qualiOlenders

Interest rate risk

The interest rate risk of the Company and subsidiaries is resulted from deposits with banks and credit facilities which are based ollfloating interest rates

The Company minimizes the interest rate risk from credit facilities by maintaining credit facilities from diversified lenders and monitoring the market interest rate risk movement The Company manages this by using a frx interest rate for each borrowing which will be agreed at the date of any drawdown or roll over

Foreign exchange rate risk

Purchases offued assets and inventories expose the Company and subsidiaries to foreign exchange rate risk The risk is reduced by carrying out export sales




TAHUN BERAKHIR 31 DESEMBER 2010 DAN 20091YEARS ENDED 31 DECEMBER 2010 AND 2009 (Dalamjntaan rupiah kecuali dinyatakan khnsuslln millions ofrupiah unless otherwise specified)

29 ASET DAN KEW AJIBAN KEUANGAN 29 FINANClALASSETS AND LIABILITIES (Lanjutan) (Continued)

Perseroan dan anak perusahaan memonitor dan mengeiola risiko ini dengan menyepadankan kewajiban keuangan dalam mata uang asing dengan aset keuangan dalam mata uang asing terkait dan melakukan pembelian atau penjualan mata uang asing saat diperlukan

Per akhir tahun eksposur bersih terhadap perubahan nilai tukar mata uang asing Perseroan dan anak perusahaan adalah sebagai berikut

2010

The Company and subsidiaries monitor and manage the risk by matching the foreign currency financial liabilities with relevant foreign currency financial assets and buying or selling foreign currencies at spot rate when necessary

At year end the net exposure to fluctuation in foreign currencies ofthe Company and subsidiaries was asfollows

ASET Kas dan setara kas Piutang usaha Iumlah aset

KEWAJIBAN Hutang usaha Beban masih harus dibayar Kewajiban Ian car lain-lain Iumlah kewajiban

Eksposur bersih

Ekuivalen dengan jutaan

rupiabl Equivalent in

Lainnyal millions USD EUR Others) ofrupiah

17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009

ASSETS Cash and cash equivalents

Trade receivables Total assets

LIABILITIES Trade payables

Accrued expenses Other current liabilities

Total liabilities

Net exposure




ASET ASSETS Kas dan setara kas 13242424 1157388 203 140117 Cash and cash equivalents P iutang usaha 22185338 208542 Trade receivables Piutang lain-lain 4272 40 Other receivables Iurnlah aset -3F4)~iiQ~~i- ~~~69 ]~s 9L Total assets

KEWAJIBAN LIABILITIES Hutang usaha (14110853) (507781) (268714) (142028) Trade payables Beban masih harns dibayar (184662) (1736) Accrued expenses Kewajiban lancar lain-lain (29657) (1407246) (19290) Other current liabilities Iumlah kewajiban Q~3~~P2) (l1~2~)J6~n~) Q6~2~) Total liabilities

Eksposur bersih 21106862 (757639) (268511) ==185645= Net exposure

01- Aset dan kewajiban dalam valuta asing lainnya disajikan dalam jumlah Assets and liabilities denominated in other foreign currencies are yang setara dengan usn dengan menggunakan kurs pada tanggal presented ill USD equivalents Ising the exchange rates prevailing at neraea balance sheets dale



CATATAN AT AS LAPORAN KEUANGAN KONSOLIDASIINOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

TAHUNBERAKHIR 31 DESEMBER2010 DAN 20091YEARS ENDED 31 DECEMBER 2010 AND 2009 (Dalamjntaan rupiah kecnali dinyatakan khnsuslln millions ofrupiah unless otherwise specified)

30 IKATAN 30 COMMITMENTS

Pada akhir 2010 Perseroan dan anak perusahaan mempunyai ikatanshyikatan sehubungan dengan pembelian imporlokal atas persediaan jumlah seluruhnya ekuivalen Rp 4414l 0 juta

Pada akhir 2010 Perseroan mempunyai ikatan sehubungan dengan pembelian imporllokal aset tetap jumlah seluruhnya ekuivalen Rp 68990l juta

Pada akhir 2010 Perseroan bersarna anak perusahaan PT Surya Pamenang memiliki fasilitas pinjaman jangka pendek Letter of Credit dan jarninan bank gabungan dari Deutsche Bank AG yang belum dipakai sejumlah USD 18579828 Fasilitas gabungan ini dijamin dengan corporate guarantee dari Perseroan

Pada akhir 2010 pada Perseroan terdapat fasilitas pinjarnan jangka pendek yang dapat diperpanjang (revolving) yang belurn terpakai dari PT Bank Central Asia Tbk PT Bank Intemasional Indonesia Tbk PT Bank DBS Indonesia PT Bank Negara Indonesia Tbk PT ANZ Panin Bank Standard Chartered Bank The Bank of Tokyo - Mitsubishi UPJ Ltd PT Bank Mandiri Tbk PT Bank Danamon Indonesia Tbk PT Bank OCBC NISP Tbk dan PT Bank CIMB Niaga Tbk yang seluruhnya berjumlah Rp 6145405 juta

Pada akhir 2010 pada Perseroan juga terdapat fasilitas eerukan yang belum terpakai dari PT Bank Negara Indonesia Tbk PT Bank OCBC NISP Tbk PT Bank Central Asia Tbk dan PT Bank Mega Tbk yang seluruhnya berjumlah Rp 1266234 juta

Pada akhir 2010 pada Perseroan terdapat fasilitas Letter ofCredit yang belum terpakai dari PT Bank Negara Indonesia Thk dan Standard Chartered Bank yang seluruhnya berjurnIah USD 35267432

Pada akhir 2010 pada anak perusahaan PT Surya Parnenang terdapat fasilitas kredit janglea pendek yang belum terpakai dari Standard Chartered Bank sejumlah USD 5000000

Pada akhir 2010 pada anak perusahaan PT Surya Pamenang terdapat fasilitas Letter ofCredit yang belurn terpakai dari Standard Chartered Bank dan The Royal Bank of Scotland yang masingshymasing berjumlah USD 8814314 dan USD 7639708 Fasilitas Letter of Credit dijarnin dengan corporate guarantee dari Perseroan

At year end 2010 the Company and subsidiaries had various importllocal purchase commitments for inventories with a total value ofequivalent Rp 441410 million

At year end 2010 the Company had various fmporlllocal purchase commitments for fIXed assets with a total value of equivalent Rp 689901 million

At year end 2010 the Company and subsidiary PT Surya Pamenang have unusedjoint short-term loan Letter ofCredit and bank guarantee facility from Deutsche Bank AG amounting to USD 18579828 Thejointfacility is secured by corporate guarantee from the Company

At year end 2010 the Company has unused revolving credit facilities from PT Bank Central Asia Tbk PT Bank Internasional Indonesia Tbk PT Bank DBS Indonesia PT Bank Negara Indonesia Tbk PTANZ Panin Bank Standard Chartered Bank The Bank of Tokyo - Mitsubishi UFJ Ltd PT Bank Mandiri Tbk PT Bank Danamon hdonesia Tbk PT Bank OCBC NISP Tbk and PTBank CIMB Niaga Tbk at a total amount Rp 6145405 million

At year end 2010 the Company has also unused overdraft facilities from PT Bank Negara Indonesia Tbk PT Bank OCBC NISP Tbk PTBank Central Asia Tbk alld PT Bank Mega Tbk at a total amount ofRp 1266234 million

At year end 2010 the Company has unused Letter of Credit facilities from PT Bank Negara Indonesia Tbk and Standard Chartered Bank at a total amount ofUSD 35267432

At year end 2010 the subsidiary PT Surya Pamenang has unused short-tent loan facility from Standard Chartered Bank amounting to USD 5000000

At year end 2010 the subsidiary PT Surya Pamenang has unused Letter of Credit facilities from Standard Chartered Bank and The Royal Bank of Scotland amounting to USD 8814314 and USD 7639708 respectiveyo The Letter of Credit facilities are secured by corporate guarantee from the Company


PT GDDANG GARAM Tbk DAN AlfAK PERDSAHAANI PT GUDANG GARAlll Tbk AND SUBSIDIARIES

CATATAN ATAS LAPORAN KEUANGAN KONSOLlDASJJNOTES TO THE CONSOUDATED FINANCIAL STATEMENTS


31 STANDAR AKUNTANSI BARD 31 NEWACCOUNTING STANDARDS

Ikatan Akuntan Indonesia telah menerbitkan beberapa standar The Indonesian Institute ofAccountants has issued the revised akuntansi keuangan revisi sebagai berikut financial accounting standards asfollows

a Standar akuntansi keuangan dan interpretasi yang akan berlaku Q Financiai accounting standards and interpretation that will untuk laporan keuangan yang periodenya dimula pada atau be applicable for mancial statements covering periods setelah 1 Januari 20ll beginning On or ofler J January 2011

-PSAK No1 Penyajian Laporan KeuanganlPresentation ofFinancial Statements -PSAK No2 Laporan Arus KaslSlalement olCash Flows -PSAKNo3 Laporan Keuangan Interimllnterim Financial Reponing -PSAK No4 Laporan Keuangan KonsoHdasian dan Laporan Keuangan TersendirilConsolidated and Separate Financial

Statements -PSAK No5 Segmen OperasifOperating Segments - PSAK NO7 Pengungkapan Phak-phak Berelas IRelated Party Disclosures - PSAK No8 Peristiwa Setelah Periode PelaporaniEvents afler The Reporting Period - PSAK No 12 Bagian Partisipasi dalam Ventura Bersamallnterests in Joint Ventures -PSAKNo15 Investasi pada Entitas Asosiasillnvestments in Associates -PSAK No 19 Aset Tak Berwujudlntangible Assets -PSAK No 22 Kombinasi BisnisJBusiness Combinations - PSltK No 23 PendapatanJRevenue - PSAKNo 25 Kebijakan Akuntansi Perubahan Bstimasi Akuntansi~ dan KesalahaniAccounting Policies Changes in

Accounting Estimates ana Errors -PSAKNo48 Penurunan Nilai Asetiimpairment ofAssets -PSAKNo57 Provls1 Liabilitas Kontinjensi dan Aset KontinjensifProvisiollS Contingent Liabilities and Contingent

Assets -PSAKNo58 ABet Tidallt Lancar yang Dmiliki untuk Dijual dan Operas yang DhentikanlNon-current Assets Held for

Sale and Discontinued Operations -ISAK No7 Konsolidasi Entitas Bertujuan KhususiCollsolidatiotl afSpecial Purpose Etltities - [SAKNo 9 Perubahan atas Liabilitas Aktivitas Purnaoperasi Restorasi dan Liabilitas SerupaChanges in Existing

Decommissioning Restoration GIld Similar Liabilities - ISAK No 10 Program Loyalitas PelangganJCustomer Loyalty Programmes -ISAK No 11 Distribusi Aset Non~Kas kepada PemiliklDistrfbution ofNon-cash Assets to Owners - ISAK No 12 Pengendalian Bersama Entitas Kontribusi Non~Moneter oleh VenturerfJoinlly Controlled Entities Nonshy

monetary Contributions by Venturers - ISAKNo 14 Aset Tak Berwujud - Biaya Situs Webilntangble Assets - Website Cost - ISAK No 17 Laporan Keuangan Interim dan Penurunan Nilaillnterim Financial Reporting and Impairment




TAHUN BERAKHIR 31 DESEMBER 2010 DAN 20091YEARS ENDED 31 DECEMBER 2010 AND 2009 (Dalamjutaan rupiah kecuali dinyatakan khusus[n millions ofrupiah unless otherwise specified)

31 STANDARAKUNTANSIBARU 31 NEWACCOUNTING STANDARDS (Lanlutan) (Continued)

b Standar akunansi kenangn dan inerpretasi yang akan berlku b Financial accounting standards am interpretation that will untuk laporan keuangan yang periodenya dimulai pada atau be applicable for financial statements covering periods setelah 1 Januari 2012 beginning on or after 1 January 2012

-PSAKNoIO Pengaruh Perubahan Nilai Tukar Val uta AsingThe Efficts ojChanges in Foreign Exchange Rates bull PSAK No 18 Akuntansi dan Pelaporan Program Manfaat PurnakaryalAccouming and Reporting by Retirement Benefit

Plans middotPSAKNo24 Imbalan KerjaiErnployee Benefits -PSAKNo34 Kontrak KonstruksiConstruction Contracts -PSAKNo 46 Pajak PenghasilatVIlIcome Taxes -PSAKNo50 Instrumen Keuangan PenyajianlFinaJ1dal Instruments Presentation - PSAKNo 53 Pembayaran Berbasis SahamlSltare-based Payment - PSAK No 60 Instrumen Keuangan PengungkapanfFiJ1anctal Instruments Disclosures PSAKNo 61 Akuntansi Hibah Pemerintah dan Pengungkapan Bantuan PemerintahlAccouliting for Government Grants

and Disclosure ofGovernment Assistance - ISAKNo 13 Lindung Nilai Investasi Neto dalam Kegiatan Usaha Luar NegerilHedges oja Net Investment in a Foreign

Operation - ISAKNo 15 Batas Aset Imbalan Pasti Persyaratan Perdanaan Minimum dan InteraksinyaiThe Limit oja Defined Benefit

Asset Minimum Funding Requirements and their Interaction -ISAKNo18 Bantuan Pemerintah - Tidak Ada Relasi Spesifik dengan Aktivitas OperasiGovemment Assistance shy

No Specific Relation to Operating Activities middotISAKNo20 Pajak Penghasilan - Perubahan dolm Status Pajak Enrltas atau Para Pemegang Sahamllncome Taxes shy

Changes in T Stalus ojan Emily or its Shareholders

Perseroan dan anak perusahaan masih rnempeJajari darnpak yang The Company and subsidiaries are still evaluating the possible mungkin timbul atall penerbitan beberapa standar akuntansi impact on the issuance of these financial accounting standards keuangan dan interpretasj tersebut_ and inJerpretaJions


PT GUDAtlG GARAM Tbk DAN ANAK PERUSAHAANI PT GUDANG GARAM TbkAND SUBSIDIARIES

LAPORklt KEUANGAN KONSOLIDASlCONSOLlDATED FINANCIAL STATEMENTS TARUN BERAKHIR 31 DESEMBER 2010 DAN 20091YEARS ENDED 31 DECEMBER 2010 AND 2009

ISIfCONTENTS HaiamaniPage

LAPORAN AUDITOR INDEPENDENIINDEPENDENT AUDITORS REPORT 1-2

NERACA KONSOLIDASIICONSOLlDATED BALANCE SHEETS 31 DESEMBER 2010 DAN 2009131 DECEMBER 2010 AND 2009 3 - 4

LAPORAN LABA RUG KONSOLIDASICONSOLlDATED STATEMENTS OF INCOME TAHUN BERAKHIR 31 DESEMBER 2010 DAN 20091 YEARS ENDED 31 DECEMBER 2010 AND 2009 5

LAPORAN PERUBAHAN EKUITAS KONSOLIDASJI CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS EQUITY TAHUNBERAKHIR31 DESEMBER2010DAN 20091 YEARS ENDED 31 DECEMBER 2010 AND 2009 6

LAPORAN ARUS KAS KONSOLIDASIICONSOLIDATED STATEMENTS OF CASH FLOWS TARUNBERAKHIR31 DESEMBER2010DAN 20091 YEARS ENDED 31 DECEMBER 2010 AND 2009 7

CATATAN ATAS LAPORANKEUANGANKONSOLIDASII NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS TARUN BERAKHIR31 DESEMBER2010DAN 20091 YEARS ENDED 31 DECEMBER 2010 AND 2009 8 - 46

PT Gudang Garam Tbk







Telephone +62 (0) 21 574 2333 +62 10) 21 574 2888

Fex +62 10) 21 574 1777 +62 10) 21 5742777


No L10-1052-111128001


PT Gudang Garam Tbk



PT GdalJg Garam Tbk



I


























JUMLAHASET 30741679


2009 ASSETS










and Rp 5111540 million 7019464 2009


















HAK MmORITAS







Catatanl Notes

11 12

2k13 14 15 16

2017 2k13

2b

118 19

20

2010

2683654

343062 31986

161323 4962877

51678 247353

_~481 933_

644008 295462

939470

123114

962044 53700

200000 19981418

21197162

30741679

2009

3182762

290517 32264

187952 4028717

114034 125033

___7J~79

566210 320935

887145

____81004

962044 53700

200000 17085793

_J_830537

27230965










MINORITY INTEREST






Unappropriated









LABAKOTOR


LABA IJSAHA



LABA SEBELUM PAJAK




LABABERSIH


Catatan Nates

2e21 2d22

23 24

9

2j

2f

2k13

2b

2125

2010

37691997 (28826410)

8865587

(1833402) (1174324)

(3007726)

5857861

(1627) 32089

(238285) (10157)

(8585)

(226565)

5631296

(1444945) 28438

(1416507)

4214789

3044 2155

2009

32973080 (25807564)

7165516

(1030558) (928121)

(1958679)

5206837

15387 96253

(445230) (40677) (3817)

(378084)

(540)

4828213

(1421241) 78929

(1342312)

3485901

2706 1796




OPERATING PROFIT





PROFIT BEFORE TAX


Deferred




Netprofit


PT Gudang Gara Tbk




Modal


Jumffih clruitas

Catatanl Note


pafdm excess of


Belum Dicadangknn

Unappropriated

Toral shareholders

equiiy


31 DecembID- 2008












2010 2009








pendanaan



37800119 (33211596)

4588523 _ 32089

(261091) (1486923)

___~_~3~~

(1097169) 2972

__Q_~~~271

4129753 (4628861) (1250657)

3801

___(1c745964)

___J~Q~)_

26352 1222897

1249249

34040270 (29040514)

4999756 96253

(466622) (1364186)

_32~29L

(1404742) 17488

_J0872plusmn2

2000000 (3149161)

(673431)

50800

_Q771792)

___Q_~~4)

88071 1134826

1222897













activities









1 UMUM 1 GENERAL



































_--shy








kertasroper





JaswScrvicl~







PerdagangaN Tramng




Perdagangml Trading




Perdagangan Trading






1993 999middot) 9999(- 1272977 1201O5U

2004 9999(middot) 9999() 3246670 2721604

(U) 9999() 9999() 14810 259096

(-) 9999() 110304

2009 6000 6000 43017 399211

2009 600(1 601)0 61954 51](14

2009 600011 6000 44038 31939

2009 l000 toOO 140934 150250

1009 (iOOI) 6000 61927 5)143

2009 6000 6100 73411 52966

2009 6000610 6000 142601 131742










commenced














r) JOOllrSsl(m4JJtw











2010











(Nole 18)









































































































i Goodwill






2010 Rupiah penuh

III whole rupiLIh


8991 11956




h Prepaid expe


i Goodwill






2009 Rupiah penuhi

III whole rupiah








1lt Heban pajak


I Laba per sbm



















ll Informasi segmen












p Use ofestimates







2010 2009






















2010

100585 55520 30723 18930 13335

10200

8765 3713 2595 1195 1095

3795

2009

3232 53328 15225 16827 6675

3774

1065 1095

5574

J~~









Valuta asing


Total valuta asing

5462

~~~

Foreign currency




1249249 1222897

2010 2009




525 - 800 I75 - 325

550 shy 1400 175










2010



Rp I roilyar) 448

2II~

903739


2010


882546



21193



2009




22474 PTGandum


~~~~


2009





22760 36281









2010 2009

Karyawan Lainnya

390 10875 11265

1481 24104 25585






2010



20174168


2009







2010 2009


97738 11855


109593 39229















11177134 107042 (9921) 467185 11741440 Assets under


12131004 ~~~~~ j~~~I) 33~3ss






(sIh54~) j~~SgS 5322 js9~7~3














10144530 3100 121453 (30443) 938494 11177134 Assets under


~~~3 31 1449IO _3~~~3l _ _I23hlltl~








2010 2009









2010





2010









2009




2010 2009


345506 19050 11844 35000

411400

332872 27264

6135 247073

613344








2010 2009




2683654


akhir tahun 794





KrediturlLellders





banks






3182762


968 at year end













2010






2009






8118 31- 60 days 3873 61 - 90 days

Over 90 days




2010


2009



108592

2973 495

2923

128505

3550 3

1053



Article 23126






2010


43493 2847

~~~~ 161323


2010 Pajak kin



1416507


2010







2009



187952


2009 Current



(8696) Subsidiaries

1342312


2009







Income tax expense














2010

5631296 (383732)

~~l~

14815

17474 (16913) 24927

~9~9~

106216 62444

(52) (90920)

Z~~~ 5365555

25 1341389

(58095) (95)

(1281892) (1340082)

1307

2009

4828213 (259078)

~s~~~~

11905

4788 (82677)

7893

~22))

338405 66098 (2243)

(121330)

z~~o 4791974

28 1341753

(58276) (95)

(1154877) (1213248)

128505




















2010





(295462)





2009










2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609


4962877 4028717






ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure
































































Telephone +62 (0) 21 574 2333 +62 10) 21 574 2888

Fex +62 10) 21 574 1777 +62 10) 21 5742777


No L10-1052-111128001


PT Gudang Garam Tbk



PT GdalJg Garam Tbk



I


























JUMLAHASET 30741679


2009 ASSETS










and Rp 5111540 million 7019464 2009


















HAK MmORITAS







Catatanl Notes

11 12

2k13 14 15 16

2017 2k13

2b

118 19

20

2010

2683654

343062 31986

161323 4962877

51678 247353

_~481 933_

644008 295462

939470

123114

962044 53700

200000 19981418

21197162

30741679

2009

3182762

290517 32264

187952 4028717

114034 125033

___7J~79

566210 320935

887145

____81004

962044 53700

200000 17085793

_J_830537

27230965










MINORITY INTEREST






Unappropriated









LABAKOTOR


LABA IJSAHA



LABA SEBELUM PAJAK




LABABERSIH


Catatan Nates

2e21 2d22

23 24

9

2j

2f

2k13

2b

2125

2010

37691997 (28826410)

8865587

(1833402) (1174324)

(3007726)

5857861

(1627) 32089

(238285) (10157)

(8585)

(226565)

5631296

(1444945) 28438

(1416507)

4214789

3044 2155

2009

32973080 (25807564)

7165516

(1030558) (928121)

(1958679)

5206837

15387 96253

(445230) (40677) (3817)

(378084)

(540)

4828213

(1421241) 78929

(1342312)

3485901

2706 1796




OPERATING PROFIT





PROFIT BEFORE TAX


Deferred




Netprofit


PT Gudang Gara Tbk




Modal


Jumffih clruitas

Catatanl Note


pafdm excess of


Belum Dicadangknn

Unappropriated

Toral shareholders

equiiy


31 DecembID- 2008












2010 2009








pendanaan



37800119 (33211596)

4588523 _ 32089

(261091) (1486923)

___~_~3~~

(1097169) 2972

__Q_~~~271

4129753 (4628861) (1250657)

3801

___(1c745964)

___J~Q~)_

26352 1222897

1249249

34040270 (29040514)

4999756 96253

(466622) (1364186)

_32~29L

(1404742) 17488

_J0872plusmn2

2000000 (3149161)

(673431)

50800

_Q771792)

___Q_~~4)

88071 1134826

1222897













activities









1 UMUM 1 GENERAL



































_--shy








kertasroper





JaswScrvicl~







PerdagangaN Tramng




Perdagangml Trading




Perdagangan Trading






1993 999middot) 9999(- 1272977 1201O5U

2004 9999(middot) 9999() 3246670 2721604

(U) 9999() 9999() 14810 259096

(-) 9999() 110304

2009 6000 6000 43017 399211

2009 600(1 601)0 61954 51](14

2009 600011 6000 44038 31939

2009 l000 toOO 140934 150250

1009 (iOOI) 6000 61927 5)143

2009 6000 6100 73411 52966

2009 6000610 6000 142601 131742










commenced














r) JOOllrSsl(m4JJtw











2010











(Nole 18)









































































































i Goodwill






2010 Rupiah penuh

III whole rupiLIh


8991 11956




h Prepaid expe


i Goodwill






2009 Rupiah penuhi

III whole rupiah








1lt Heban pajak


I Laba per sbm



















ll Informasi segmen












p Use ofestimates







2010 2009






















2010

100585 55520 30723 18930 13335

10200

8765 3713 2595 1195 1095

3795

2009

3232 53328 15225 16827 6675

3774

1065 1095

5574

J~~









Valuta asing


Total valuta asing

5462

~~~

Foreign currency




1249249 1222897

2010 2009




525 - 800 I75 - 325

550 shy 1400 175










2010



Rp I roilyar) 448

2II~

903739


2010


882546



21193



2009




22474 PTGandum


~~~~


2009





22760 36281









2010 2009

Karyawan Lainnya

390 10875 11265

1481 24104 25585






2010



20174168


2009







2010 2009


97738 11855


109593 39229















11177134 107042 (9921) 467185 11741440 Assets under


12131004 ~~~~~ j~~~I) 33~3ss






(sIh54~) j~~SgS 5322 js9~7~3














10144530 3100 121453 (30443) 938494 11177134 Assets under


~~~3 31 1449IO _3~~~3l _ _I23hlltl~








2010 2009









2010





2010









2009




2010 2009


345506 19050 11844 35000

411400

332872 27264

6135 247073

613344








2010 2009




2683654


akhir tahun 794





KrediturlLellders





banks






3182762


968 at year end













2010






2009






8118 31- 60 days 3873 61 - 90 days

Over 90 days




2010


2009



108592

2973 495

2923

128505

3550 3

1053



Article 23126






2010


43493 2847

~~~~ 161323


2010 Pajak kin



1416507


2010







2009



187952


2009 Current



(8696) Subsidiaries

1342312


2009







Income tax expense














2010

5631296 (383732)

~~l~

14815

17474 (16913) 24927

~9~9~

106216 62444

(52) (90920)

Z~~~ 5365555

25 1341389

(58095) (95)

(1281892) (1340082)

1307

2009

4828213 (259078)

~s~~~~

11905

4788 (82677)

7893

~22))

338405 66098 (2243)

(121330)

z~~o 4791974

28 1341753

(58276) (95)

(1154877) (1213248)

128505




















2010





(295462)





2009










2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609


4962877 4028717






ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure



















































































JUMLAHASET 30741679


2009 ASSETS










and Rp 5111540 million 7019464 2009


















HAK MmORITAS







Catatanl Notes

11 12

2k13 14 15 16

2017 2k13

2b

118 19

20

2010

2683654

343062 31986

161323 4962877

51678 247353

_~481 933_

644008 295462

939470

123114

962044 53700

200000 19981418

21197162

30741679

2009

3182762

290517 32264

187952 4028717

114034 125033

___7J~79

566210 320935

887145

____81004

962044 53700

200000 17085793

_J_830537

27230965










MINORITY INTEREST






Unappropriated









LABAKOTOR


LABA IJSAHA



LABA SEBELUM PAJAK




LABABERSIH


Catatan Nates

2e21 2d22

23 24

9

2j

2f

2k13

2b

2125

2010

37691997 (28826410)

8865587

(1833402) (1174324)

(3007726)

5857861

(1627) 32089

(238285) (10157)

(8585)

(226565)

5631296

(1444945) 28438

(1416507)

4214789

3044 2155

2009

32973080 (25807564)

7165516

(1030558) (928121)

(1958679)

5206837

15387 96253

(445230) (40677) (3817)

(378084)

(540)

4828213

(1421241) 78929

(1342312)

3485901

2706 1796




OPERATING PROFIT





PROFIT BEFORE TAX


Deferred




Netprofit


PT Gudang Gara Tbk




Modal


Jumffih clruitas

Catatanl Note


pafdm excess of


Belum Dicadangknn

Unappropriated

Toral shareholders

equiiy


31 DecembID- 2008












2010 2009








pendanaan



37800119 (33211596)

4588523 _ 32089

(261091) (1486923)

___~_~3~~

(1097169) 2972

__Q_~~~271

4129753 (4628861) (1250657)

3801

___(1c745964)

___J~Q~)_

26352 1222897

1249249

34040270 (29040514)

4999756 96253

(466622) (1364186)

_32~29L

(1404742) 17488

_J0872plusmn2

2000000 (3149161)

(673431)

50800

_Q771792)

___Q_~~4)

88071 1134826

1222897













activities









1 UMUM 1 GENERAL



































_--shy








kertasroper





JaswScrvicl~







PerdagangaN Tramng




Perdagangml Trading




Perdagangan Trading






1993 999middot) 9999(- 1272977 1201O5U

2004 9999(middot) 9999() 3246670 2721604

(U) 9999() 9999() 14810 259096

(-) 9999() 110304

2009 6000 6000 43017 399211

2009 600(1 601)0 61954 51](14

2009 600011 6000 44038 31939

2009 l000 toOO 140934 150250

1009 (iOOI) 6000 61927 5)143

2009 6000 6100 73411 52966

2009 6000610 6000 142601 131742










commenced














r) JOOllrSsl(m4JJtw











2010











(Nole 18)









































































































i Goodwill






2010 Rupiah penuh

III whole rupiLIh


8991 11956




h Prepaid expe


i Goodwill






2009 Rupiah penuhi

III whole rupiah








1lt Heban pajak


I Laba per sbm



















ll Informasi segmen












p Use ofestimates







2010 2009






















2010

100585 55520 30723 18930 13335

10200

8765 3713 2595 1195 1095

3795

2009

3232 53328 15225 16827 6675

3774

1065 1095

5574

J~~









Valuta asing


Total valuta asing

5462

~~~

Foreign currency




1249249 1222897

2010 2009




525 - 800 I75 - 325

550 shy 1400 175










2010



Rp I roilyar) 448

2II~

903739


2010


882546



21193



2009




22474 PTGandum


~~~~


2009





22760 36281









2010 2009

Karyawan Lainnya

390 10875 11265

1481 24104 25585






2010



20174168


2009







2010 2009


97738 11855


109593 39229















11177134 107042 (9921) 467185 11741440 Assets under


12131004 ~~~~~ j~~~I) 33~3ss






(sIh54~) j~~SgS 5322 js9~7~3














10144530 3100 121453 (30443) 938494 11177134 Assets under


~~~3 31 1449IO _3~~~3l _ _I23hlltl~








2010 2009









2010





2010









2009




2010 2009


345506 19050 11844 35000

411400

332872 27264

6135 247073

613344








2010 2009




2683654


akhir tahun 794





KrediturlLellders





banks






3182762


968 at year end













2010






2009






8118 31- 60 days 3873 61 - 90 days

Over 90 days




2010


2009



108592

2973 495

2923

128505

3550 3

1053



Article 23126






2010


43493 2847

~~~~ 161323


2010 Pajak kin



1416507


2010







2009



187952


2009 Current



(8696) Subsidiaries

1342312


2009







Income tax expense














2010

5631296 (383732)

~~l~

14815

17474 (16913) 24927

~9~9~

106216 62444

(52) (90920)

Z~~~ 5365555

25 1341389

(58095) (95)

(1281892) (1340082)

1307

2009

4828213 (259078)

~s~~~~

11905

4788 (82677)

7893

~22))

338405 66098 (2243)

(121330)

z~~o 4791974

28 1341753

(58276) (95)

(1154877) (1213248)

128505




















2010





(295462)





2009










2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609


4962877 4028717






ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure





































































HAK MmORITAS







Catatanl Notes

11 12

2k13 14 15 16

2017 2k13

2b

118 19

20

2010

2683654

343062 31986

161323 4962877

51678 247353

_~481 933_

644008 295462

939470

123114

962044 53700

200000 19981418

21197162

30741679

2009

3182762

290517 32264

187952 4028717

114034 125033

___7J~79

566210 320935

887145

____81004

962044 53700

200000 17085793

_J_830537

27230965










MINORITY INTEREST






Unappropriated









LABAKOTOR


LABA IJSAHA



LABA SEBELUM PAJAK




LABABERSIH


Catatan Nates

2e21 2d22

23 24

9

2j

2f

2k13

2b

2125

2010

37691997 (28826410)

8865587

(1833402) (1174324)

(3007726)

5857861

(1627) 32089

(238285) (10157)

(8585)

(226565)

5631296

(1444945) 28438

(1416507)

4214789

3044 2155

2009

32973080 (25807564)

7165516

(1030558) (928121)

(1958679)

5206837

15387 96253

(445230) (40677) (3817)

(378084)

(540)

4828213

(1421241) 78929

(1342312)

3485901

2706 1796




OPERATING PROFIT





PROFIT BEFORE TAX


Deferred




Netprofit


PT Gudang Gara Tbk




Modal


Jumffih clruitas

Catatanl Note


pafdm excess of


Belum Dicadangknn

Unappropriated

Toral shareholders

equiiy


31 DecembID- 2008












2010 2009








pendanaan



37800119 (33211596)

4588523 _ 32089

(261091) (1486923)

___~_~3~~

(1097169) 2972

__Q_~~~271

4129753 (4628861) (1250657)

3801

___(1c745964)

___J~Q~)_

26352 1222897

1249249

34040270 (29040514)

4999756 96253

(466622) (1364186)

_32~29L

(1404742) 17488

_J0872plusmn2

2000000 (3149161)

(673431)

50800

_Q771792)

___Q_~~4)

88071 1134826

1222897













activities









1 UMUM 1 GENERAL



































_--shy








kertasroper





JaswScrvicl~







PerdagangaN Tramng




Perdagangml Trading




Perdagangan Trading






1993 999middot) 9999(- 1272977 1201O5U

2004 9999(middot) 9999() 3246670 2721604

(U) 9999() 9999() 14810 259096

(-) 9999() 110304

2009 6000 6000 43017 399211

2009 600(1 601)0 61954 51](14

2009 600011 6000 44038 31939

2009 l000 toOO 140934 150250

1009 (iOOI) 6000 61927 5)143

2009 6000 6100 73411 52966

2009 6000610 6000 142601 131742










commenced














r) JOOllrSsl(m4JJtw











2010











(Nole 18)









































































































i Goodwill






2010 Rupiah penuh

III whole rupiLIh


8991 11956




h Prepaid expe


i Goodwill






2009 Rupiah penuhi

III whole rupiah








1lt Heban pajak


I Laba per sbm



















ll Informasi segmen












p Use ofestimates







2010 2009






















2010

100585 55520 30723 18930 13335

10200

8765 3713 2595 1195 1095

3795

2009

3232 53328 15225 16827 6675

3774

1065 1095

5574

J~~









Valuta asing


Total valuta asing

5462

~~~

Foreign currency




1249249 1222897

2010 2009




525 - 800 I75 - 325

550 shy 1400 175










2010



Rp I roilyar) 448

2II~

903739


2010


882546



21193



2009




22474 PTGandum


~~~~


2009





22760 36281









2010 2009

Karyawan Lainnya

390 10875 11265

1481 24104 25585






2010



20174168


2009







2010 2009


97738 11855


109593 39229















11177134 107042 (9921) 467185 11741440 Assets under


12131004 ~~~~~ j~~~I) 33~3ss






(sIh54~) j~~SgS 5322 js9~7~3














10144530 3100 121453 (30443) 938494 11177134 Assets under


~~~3 31 1449IO _3~~~3l _ _I23hlltl~








2010 2009









2010





2010









2009




2010 2009


345506 19050 11844 35000

411400

332872 27264

6135 247073

613344








2010 2009




2683654


akhir tahun 794





KrediturlLellders





banks






3182762


968 at year end













2010






2009






8118 31- 60 days 3873 61 - 90 days

Over 90 days




2010


2009



108592

2973 495

2923

128505

3550 3

1053



Article 23126






2010


43493 2847

~~~~ 161323


2010 Pajak kin



1416507


2010







2009



187952


2009 Current



(8696) Subsidiaries

1342312


2009







Income tax expense














2010

5631296 (383732)

~~l~

14815

17474 (16913) 24927

~9~9~

106216 62444

(52) (90920)

Z~~~ 5365555

25 1341389

(58095) (95)

(1281892) (1340082)

1307

2009

4828213 (259078)

~s~~~~

11905

4788 (82677)

7893

~22))

338405 66098 (2243)

(121330)

z~~o 4791974

28 1341753

(58276) (95)

(1154877) (1213248)

128505




















2010





(295462)





2009










2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609


4962877 4028717






ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure






























































LABAKOTOR


LABA IJSAHA



LABA SEBELUM PAJAK




LABABERSIH


Catatan Nates

2e21 2d22

23 24

9

2j

2f

2k13

2b

2125

2010

37691997 (28826410)

8865587

(1833402) (1174324)

(3007726)

5857861

(1627) 32089

(238285) (10157)

(8585)

(226565)

5631296

(1444945) 28438

(1416507)

4214789

3044 2155

2009

32973080 (25807564)

7165516

(1030558) (928121)

(1958679)

5206837

15387 96253

(445230) (40677) (3817)

(378084)

(540)

4828213

(1421241) 78929

(1342312)

3485901

2706 1796




OPERATING PROFIT





PROFIT BEFORE TAX


Deferred




Netprofit


PT Gudang Gara Tbk




Modal


Jumffih clruitas

Catatanl Note


pafdm excess of


Belum Dicadangknn

Unappropriated

Toral shareholders

equiiy


31 DecembID- 2008












2010 2009








pendanaan



37800119 (33211596)

4588523 _ 32089

(261091) (1486923)

___~_~3~~

(1097169) 2972

__Q_~~~271

4129753 (4628861) (1250657)

3801

___(1c745964)

___J~Q~)_

26352 1222897

1249249

34040270 (29040514)

4999756 96253

(466622) (1364186)

_32~29L

(1404742) 17488

_J0872plusmn2

2000000 (3149161)

(673431)

50800

_Q771792)

___Q_~~4)

88071 1134826

1222897













activities









1 UMUM 1 GENERAL



































_--shy








kertasroper





JaswScrvicl~







PerdagangaN Tramng




Perdagangml Trading




Perdagangan Trading






1993 999middot) 9999(- 1272977 1201O5U

2004 9999(middot) 9999() 3246670 2721604

(U) 9999() 9999() 14810 259096

(-) 9999() 110304

2009 6000 6000 43017 399211

2009 600(1 601)0 61954 51](14

2009 600011 6000 44038 31939

2009 l000 toOO 140934 150250

1009 (iOOI) 6000 61927 5)143

2009 6000 6100 73411 52966

2009 6000610 6000 142601 131742










commenced














r) JOOllrSsl(m4JJtw











2010











(Nole 18)









































































































i Goodwill






2010 Rupiah penuh

III whole rupiLIh


8991 11956




h Prepaid expe


i Goodwill






2009 Rupiah penuhi

III whole rupiah








1lt Heban pajak


I Laba per sbm



















ll Informasi segmen












p Use ofestimates







2010 2009






















2010

100585 55520 30723 18930 13335

10200

8765 3713 2595 1195 1095

3795

2009

3232 53328 15225 16827 6675

3774

1065 1095

5574

J~~









Valuta asing


Total valuta asing

5462

~~~

Foreign currency




1249249 1222897

2010 2009




525 - 800 I75 - 325

550 shy 1400 175










2010



Rp I roilyar) 448

2II~

903739


2010


882546



21193



2009




22474 PTGandum


~~~~


2009





22760 36281









2010 2009

Karyawan Lainnya

390 10875 11265

1481 24104 25585






2010



20174168


2009







2010 2009


97738 11855


109593 39229















11177134 107042 (9921) 467185 11741440 Assets under


12131004 ~~~~~ j~~~I) 33~3ss






(sIh54~) j~~SgS 5322 js9~7~3














10144530 3100 121453 (30443) 938494 11177134 Assets under


~~~3 31 1449IO _3~~~3l _ _I23hlltl~








2010 2009









2010





2010









2009




2010 2009


345506 19050 11844 35000

411400

332872 27264

6135 247073

613344








2010 2009




2683654


akhir tahun 794





KrediturlLellders





banks






3182762


968 at year end













2010






2009






8118 31- 60 days 3873 61 - 90 days

Over 90 days




2010


2009



108592

2973 495

2923

128505

3550 3

1053



Article 23126






2010


43493 2847

~~~~ 161323


2010 Pajak kin



1416507


2010







2009



187952


2009 Current



(8696) Subsidiaries

1342312


2009







Income tax expense














2010

5631296 (383732)

~~l~

14815

17474 (16913) 24927

~9~9~

106216 62444

(52) (90920)

Z~~~ 5365555

25 1341389

(58095) (95)

(1281892) (1340082)

1307

2009

4828213 (259078)

~s~~~~

11905

4788 (82677)

7893

~22))

338405 66098 (2243)

(121330)

z~~o 4791974

28 1341753

(58276) (95)

(1154877) (1213248)

128505




















2010





(295462)





2009










2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609


4962877 4028717






ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure





























































Modal


Jumffih clruitas

Catatanl Note


pafdm excess of


Belum Dicadangknn

Unappropriated

Toral shareholders

equiiy


31 DecembID- 2008












2010 2009








pendanaan



37800119 (33211596)

4588523 _ 32089

(261091) (1486923)

___~_~3~~

(1097169) 2972

__Q_~~~271

4129753 (4628861) (1250657)

3801

___(1c745964)

___J~Q~)_

26352 1222897

1249249

34040270 (29040514)

4999756 96253

(466622) (1364186)

_32~29L

(1404742) 17488

_J0872plusmn2

2000000 (3149161)

(673431)

50800

_Q771792)

___Q_~~4)

88071 1134826

1222897













activities









1 UMUM 1 GENERAL



































_--shy








kertasroper





JaswScrvicl~







PerdagangaN Tramng




Perdagangml Trading




Perdagangan Trading






1993 999middot) 9999(- 1272977 1201O5U

2004 9999(middot) 9999() 3246670 2721604

(U) 9999() 9999() 14810 259096

(-) 9999() 110304

2009 6000 6000 43017 399211

2009 600(1 601)0 61954 51](14

2009 600011 6000 44038 31939

2009 l000 toOO 140934 150250

1009 (iOOI) 6000 61927 5)143

2009 6000 6100 73411 52966

2009 6000610 6000 142601 131742










commenced














r) JOOllrSsl(m4JJtw











2010











(Nole 18)









































































































i Goodwill






2010 Rupiah penuh

III whole rupiLIh


8991 11956




h Prepaid expe


i Goodwill






2009 Rupiah penuhi

III whole rupiah








1lt Heban pajak


I Laba per sbm



















ll Informasi segmen












p Use ofestimates







2010 2009






















2010

100585 55520 30723 18930 13335

10200

8765 3713 2595 1195 1095

3795

2009

3232 53328 15225 16827 6675

3774

1065 1095

5574

J~~









Valuta asing


Total valuta asing

5462

~~~

Foreign currency




1249249 1222897

2010 2009




525 - 800 I75 - 325

550 shy 1400 175










2010



Rp I roilyar) 448

2II~

903739


2010


882546



21193



2009




22474 PTGandum


~~~~


2009





22760 36281









2010 2009

Karyawan Lainnya

390 10875 11265

1481 24104 25585






2010



20174168


2009







2010 2009


97738 11855


109593 39229















11177134 107042 (9921) 467185 11741440 Assets under


12131004 ~~~~~ j~~~I) 33~3ss






(sIh54~) j~~SgS 5322 js9~7~3














10144530 3100 121453 (30443) 938494 11177134 Assets under


~~~3 31 1449IO _3~~~3l _ _I23hlltl~








2010 2009









2010





2010









2009




2010 2009


345506 19050 11844 35000

411400

332872 27264

6135 247073

613344








2010 2009




2683654


akhir tahun 794





KrediturlLellders





banks






3182762


968 at year end













2010






2009






8118 31- 60 days 3873 61 - 90 days

Over 90 days




2010


2009



108592

2973 495

2923

128505

3550 3

1053



Article 23126






2010


43493 2847

~~~~ 161323


2010 Pajak kin



1416507


2010







2009



187952


2009 Current



(8696) Subsidiaries

1342312


2009







Income tax expense














2010

5631296 (383732)

~~l~

14815

17474 (16913) 24927

~9~9~

106216 62444

(52) (90920)

Z~~~ 5365555

25 1341389

(58095) (95)

(1281892) (1340082)

1307

2009

4828213 (259078)

~s~~~~

11905

4788 (82677)

7893

~22))

338405 66098 (2243)

(121330)

z~~o 4791974

28 1341753

(58276) (95)

(1154877) (1213248)

128505




















2010





(295462)





2009










2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609


4962877 4028717






ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure





























































2010 2009








pendanaan



37800119 (33211596)

4588523 _ 32089

(261091) (1486923)

___~_~3~~

(1097169) 2972

__Q_~~~271

4129753 (4628861) (1250657)

3801

___(1c745964)

___J~Q~)_

26352 1222897

1249249

34040270 (29040514)

4999756 96253

(466622) (1364186)

_32~29L

(1404742) 17488

_J0872plusmn2

2000000 (3149161)

(673431)

50800

_Q771792)

___Q_~~4)

88071 1134826

1222897













activities









1 UMUM 1 GENERAL



































_--shy








kertasroper





JaswScrvicl~







PerdagangaN Tramng




Perdagangml Trading




Perdagangan Trading






1993 999middot) 9999(- 1272977 1201O5U

2004 9999(middot) 9999() 3246670 2721604

(U) 9999() 9999() 14810 259096

(-) 9999() 110304

2009 6000 6000 43017 399211

2009 600(1 601)0 61954 51](14

2009 600011 6000 44038 31939

2009 l000 toOO 140934 150250

1009 (iOOI) 6000 61927 5)143

2009 6000 6100 73411 52966

2009 6000610 6000 142601 131742










commenced














r) JOOllrSsl(m4JJtw











2010











(Nole 18)









































































































i Goodwill






2010 Rupiah penuh

III whole rupiLIh


8991 11956




h Prepaid expe


i Goodwill






2009 Rupiah penuhi

III whole rupiah








1lt Heban pajak


I Laba per sbm



















ll Informasi segmen












p Use ofestimates







2010 2009






















2010

100585 55520 30723 18930 13335

10200

8765 3713 2595 1195 1095

3795

2009

3232 53328 15225 16827 6675

3774

1065 1095

5574

J~~









Valuta asing


Total valuta asing

5462

~~~

Foreign currency




1249249 1222897

2010 2009




525 - 800 I75 - 325

550 shy 1400 175










2010



Rp I roilyar) 448

2II~

903739


2010


882546



21193



2009




22474 PTGandum


~~~~


2009





22760 36281









2010 2009

Karyawan Lainnya

390 10875 11265

1481 24104 25585






2010



20174168


2009







2010 2009


97738 11855


109593 39229















11177134 107042 (9921) 467185 11741440 Assets under


12131004 ~~~~~ j~~~I) 33~3ss






(sIh54~) j~~SgS 5322 js9~7~3














10144530 3100 121453 (30443) 938494 11177134 Assets under


~~~3 31 1449IO _3~~~3l _ _I23hlltl~








2010 2009









2010





2010









2009




2010 2009


345506 19050 11844 35000

411400

332872 27264

6135 247073

613344








2010 2009




2683654


akhir tahun 794





KrediturlLellders





banks






3182762


968 at year end













2010






2009






8118 31- 60 days 3873 61 - 90 days

Over 90 days




2010


2009



108592

2973 495

2923

128505

3550 3

1053



Article 23126






2010


43493 2847

~~~~ 161323


2010 Pajak kin



1416507


2010







2009



187952


2009 Current



(8696) Subsidiaries

1342312


2009







Income tax expense














2010

5631296 (383732)

~~l~

14815

17474 (16913) 24927

~9~9~

106216 62444

(52) (90920)

Z~~~ 5365555

25 1341389

(58095) (95)

(1281892) (1340082)

1307

2009

4828213 (259078)

~s~~~~

11905

4788 (82677)

7893

~22))

338405 66098 (2243)

(121330)

z~~o 4791974

28 1341753

(58276) (95)

(1154877) (1213248)

128505




















2010





(295462)





2009










2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609


4962877 4028717






ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure





























































1 UMUM 1 GENERAL



































_--shy








kertasroper





JaswScrvicl~







PerdagangaN Tramng




Perdagangml Trading




Perdagangan Trading






1993 999middot) 9999(- 1272977 1201O5U

2004 9999(middot) 9999() 3246670 2721604

(U) 9999() 9999() 14810 259096

(-) 9999() 110304

2009 6000 6000 43017 399211

2009 600(1 601)0 61954 51](14

2009 600011 6000 44038 31939

2009 l000 toOO 140934 150250

1009 (iOOI) 6000 61927 5)143

2009 6000 6100 73411 52966

2009 6000610 6000 142601 131742










commenced














r) JOOllrSsl(m4JJtw











2010











(Nole 18)









































































































i Goodwill






2010 Rupiah penuh

III whole rupiLIh


8991 11956




h Prepaid expe


i Goodwill






2009 Rupiah penuhi

III whole rupiah








1lt Heban pajak


I Laba per sbm



















ll Informasi segmen












p Use ofestimates







2010 2009






















2010

100585 55520 30723 18930 13335

10200

8765 3713 2595 1195 1095

3795

2009

3232 53328 15225 16827 6675

3774

1065 1095

5574

J~~









Valuta asing


Total valuta asing

5462

~~~

Foreign currency




1249249 1222897

2010 2009




525 - 800 I75 - 325

550 shy 1400 175










2010



Rp I roilyar) 448

2II~

903739


2010


882546



21193



2009




22474 PTGandum


~~~~


2009





22760 36281









2010 2009

Karyawan Lainnya

390 10875 11265

1481 24104 25585






2010



20174168


2009







2010 2009


97738 11855


109593 39229















11177134 107042 (9921) 467185 11741440 Assets under


12131004 ~~~~~ j~~~I) 33~3ss






(sIh54~) j~~SgS 5322 js9~7~3














10144530 3100 121453 (30443) 938494 11177134 Assets under


~~~3 31 1449IO _3~~~3l _ _I23hlltl~








2010 2009









2010





2010









2009




2010 2009


345506 19050 11844 35000

411400

332872 27264

6135 247073

613344








2010 2009




2683654


akhir tahun 794





KrediturlLellders





banks






3182762


968 at year end













2010






2009






8118 31- 60 days 3873 61 - 90 days

Over 90 days




2010


2009



108592

2973 495

2923

128505

3550 3

1053



Article 23126






2010


43493 2847

~~~~ 161323


2010 Pajak kin



1416507


2010







2009



187952


2009 Current



(8696) Subsidiaries

1342312


2009







Income tax expense














2010

5631296 (383732)

~~l~

14815

17474 (16913) 24927

~9~9~

106216 62444

(52) (90920)

Z~~~ 5365555

25 1341389

(58095) (95)

(1281892) (1340082)

1307

2009

4828213 (259078)

~s~~~~

11905

4788 (82677)

7893

~22))

338405 66098 (2243)

(121330)

z~~o 4791974

28 1341753

(58276) (95)

(1154877) (1213248)

128505




















2010





(295462)





2009










2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609


4962877 4028717






ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure












































































_--shy








kertasroper





JaswScrvicl~







PerdagangaN Tramng




Perdagangml Trading




Perdagangan Trading






1993 999middot) 9999(- 1272977 1201O5U

2004 9999(middot) 9999() 3246670 2721604

(U) 9999() 9999() 14810 259096

(-) 9999() 110304

2009 6000 6000 43017 399211

2009 600(1 601)0 61954 51](14

2009 600011 6000 44038 31939

2009 l000 toOO 140934 150250

1009 (iOOI) 6000 61927 5)143

2009 6000 6100 73411 52966

2009 6000610 6000 142601 131742










commenced














r) JOOllrSsl(m4JJtw











2010











(Nole 18)









































































































i Goodwill






2010 Rupiah penuh

III whole rupiLIh


8991 11956




h Prepaid expe


i Goodwill






2009 Rupiah penuhi

III whole rupiah








1lt Heban pajak


I Laba per sbm



















ll Informasi segmen












p Use ofestimates







2010 2009






















2010

100585 55520 30723 18930 13335

10200

8765 3713 2595 1195 1095

3795

2009

3232 53328 15225 16827 6675

3774

1065 1095

5574

J~~









Valuta asing


Total valuta asing

5462

~~~

Foreign currency




1249249 1222897

2010 2009




525 - 800 I75 - 325

550 shy 1400 175










2010



Rp I roilyar) 448

2II~

903739


2010


882546



21193



2009




22474 PTGandum


~~~~


2009





22760 36281









2010 2009

Karyawan Lainnya

390 10875 11265

1481 24104 25585






2010



20174168


2009







2010 2009


97738 11855


109593 39229















11177134 107042 (9921) 467185 11741440 Assets under


12131004 ~~~~~ j~~~I) 33~3ss






(sIh54~) j~~SgS 5322 js9~7~3














10144530 3100 121453 (30443) 938494 11177134 Assets under


~~~3 31 1449IO _3~~~3l _ _I23hlltl~








2010 2009









2010





2010









2009




2010 2009


345506 19050 11844 35000

411400

332872 27264

6135 247073

613344








2010 2009




2683654


akhir tahun 794





KrediturlLellders





banks






3182762


968 at year end













2010






2009






8118 31- 60 days 3873 61 - 90 days

Over 90 days




2010


2009



108592

2973 495

2923

128505

3550 3

1053



Article 23126






2010


43493 2847

~~~~ 161323


2010 Pajak kin



1416507


2010







2009



187952


2009 Current



(8696) Subsidiaries

1342312


2009







Income tax expense














2010

5631296 (383732)

~~l~

14815

17474 (16913) 24927

~9~9~

106216 62444

(52) (90920)

Z~~~ 5365555

25 1341389

(58095) (95)

(1281892) (1340082)

1307

2009

4828213 (259078)

~s~~~~

11905

4788 (82677)

7893

~22))

338405 66098 (2243)

(121330)

z~~o 4791974

28 1341753

(58276) (95)

(1154877) (1213248)

128505




















2010





(295462)





2009










2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609


4962877 4028717






ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure
































































commenced














r) JOOllrSsl(m4JJtw











2010











(Nole 18)









































































































i Goodwill






2010 Rupiah penuh

III whole rupiLIh


8991 11956




h Prepaid expe


i Goodwill






2009 Rupiah penuhi

III whole rupiah








1lt Heban pajak


I Laba per sbm



















ll Informasi segmen












p Use ofestimates







2010 2009






















2010

100585 55520 30723 18930 13335

10200

8765 3713 2595 1195 1095

3795

2009

3232 53328 15225 16827 6675

3774

1065 1095

5574

J~~









Valuta asing


Total valuta asing

5462

~~~

Foreign currency




1249249 1222897

2010 2009




525 - 800 I75 - 325

550 shy 1400 175










2010



Rp I roilyar) 448

2II~

903739


2010


882546



21193



2009




22474 PTGandum


~~~~


2009





22760 36281









2010 2009

Karyawan Lainnya

390 10875 11265

1481 24104 25585






2010



20174168


2009







2010 2009


97738 11855


109593 39229















11177134 107042 (9921) 467185 11741440 Assets under


12131004 ~~~~~ j~~~I) 33~3ss






(sIh54~) j~~SgS 5322 js9~7~3














10144530 3100 121453 (30443) 938494 11177134 Assets under


~~~3 31 1449IO _3~~~3l _ _I23hlltl~








2010 2009









2010





2010









2009




2010 2009


345506 19050 11844 35000

411400

332872 27264

6135 247073

613344








2010 2009




2683654


akhir tahun 794





KrediturlLellders





banks






3182762


968 at year end













2010






2009






8118 31- 60 days 3873 61 - 90 days

Over 90 days




2010


2009



108592

2973 495

2923

128505

3550 3

1053



Article 23126






2010


43493 2847

~~~~ 161323


2010 Pajak kin



1416507


2010







2009



187952


2009 Current



(8696) Subsidiaries

1342312


2009







Income tax expense














2010

5631296 (383732)

~~l~

14815

17474 (16913) 24927

~9~9~

106216 62444

(52) (90920)

Z~~~ 5365555

25 1341389

(58095) (95)

(1281892) (1340082)

1307

2009

4828213 (259078)

~s~~~~

11905

4788 (82677)

7893

~22))

338405 66098 (2243)

(121330)

z~~o 4791974

28 1341753

(58276) (95)

(1154877) (1213248)

128505




















2010





(295462)





2009










2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609


4962877 4028717






ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure































































2010











(Nole 18)









































































































i Goodwill






2010 Rupiah penuh

III whole rupiLIh


8991 11956




h Prepaid expe


i Goodwill






2009 Rupiah penuhi

III whole rupiah








1lt Heban pajak


I Laba per sbm



















ll Informasi segmen












p Use ofestimates







2010 2009






















2010

100585 55520 30723 18930 13335

10200

8765 3713 2595 1195 1095

3795

2009

3232 53328 15225 16827 6675

3774

1065 1095

5574

J~~









Valuta asing


Total valuta asing

5462

~~~

Foreign currency




1249249 1222897

2010 2009




525 - 800 I75 - 325

550 shy 1400 175










2010



Rp I roilyar) 448

2II~

903739


2010


882546



21193



2009




22474 PTGandum


~~~~


2009





22760 36281









2010 2009

Karyawan Lainnya

390 10875 11265

1481 24104 25585






2010



20174168


2009







2010 2009


97738 11855


109593 39229















11177134 107042 (9921) 467185 11741440 Assets under


12131004 ~~~~~ j~~~I) 33~3ss






(sIh54~) j~~SgS 5322 js9~7~3














10144530 3100 121453 (30443) 938494 11177134 Assets under


~~~3 31 1449IO _3~~~3l _ _I23hlltl~








2010 2009









2010





2010









2009




2010 2009


345506 19050 11844 35000

411400

332872 27264

6135 247073

613344








2010 2009




2683654


akhir tahun 794





KrediturlLellders





banks






3182762


968 at year end













2010






2009






8118 31- 60 days 3873 61 - 90 days

Over 90 days




2010


2009



108592

2973 495

2923

128505

3550 3

1053



Article 23126






2010


43493 2847

~~~~ 161323


2010 Pajak kin



1416507


2010







2009



187952


2009 Current



(8696) Subsidiaries

1342312


2009







Income tax expense














2010

5631296 (383732)

~~l~

14815

17474 (16913) 24927

~9~9~

106216 62444

(52) (90920)

Z~~~ 5365555

25 1341389

(58095) (95)

(1281892) (1340082)

1307

2009

4828213 (259078)

~s~~~~

11905

4788 (82677)

7893

~22))

338405 66098 (2243)

(121330)

z~~o 4791974

28 1341753

(58276) (95)

(1154877) (1213248)

128505




















2010





(295462)





2009










2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609


4962877 4028717






ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure































































































































































i Goodwill






2010 Rupiah penuh

III whole rupiLIh


8991 11956




h Prepaid expe


i Goodwill






2009 Rupiah penuhi

III whole rupiah








1lt Heban pajak


I Laba per sbm



















ll Informasi segmen












p Use ofestimates







2010 2009






















2010

100585 55520 30723 18930 13335

10200

8765 3713 2595 1195 1095

3795

2009

3232 53328 15225 16827 6675

3774

1065 1095

5574

J~~









Valuta asing


Total valuta asing

5462

~~~

Foreign currency




1249249 1222897

2010 2009




525 - 800 I75 - 325

550 shy 1400 175










2010



Rp I roilyar) 448

2II~

903739


2010


882546



21193



2009




22474 PTGandum


~~~~


2009





22760 36281









2010 2009

Karyawan Lainnya

390 10875 11265

1481 24104 25585






2010



20174168


2009







2010 2009


97738 11855


109593 39229















11177134 107042 (9921) 467185 11741440 Assets under


12131004 ~~~~~ j~~~I) 33~3ss






(sIh54~) j~~SgS 5322 js9~7~3














10144530 3100 121453 (30443) 938494 11177134 Assets under


~~~3 31 1449IO _3~~~3l _ _I23hlltl~








2010 2009









2010





2010









2009




2010 2009


345506 19050 11844 35000

411400

332872 27264

6135 247073

613344








2010 2009




2683654


akhir tahun 794





KrediturlLellders





banks






3182762


968 at year end













2010






2009






8118 31- 60 days 3873 61 - 90 days

Over 90 days




2010


2009



108592

2973 495

2923

128505

3550 3

1053



Article 23126






2010


43493 2847

~~~~ 161323


2010 Pajak kin



1416507


2010







2009



187952


2009 Current



(8696) Subsidiaries

1342312


2009







Income tax expense














2010

5631296 (383732)

~~l~

14815

17474 (16913) 24927

~9~9~

106216 62444

(52) (90920)

Z~~~ 5365555

25 1341389

(58095) (95)

(1281892) (1340082)

1307

2009

4828213 (259078)

~s~~~~

11905

4788 (82677)

7893

~22))

338405 66098 (2243)

(121330)

z~~o 4791974

28 1341753

(58276) (95)

(1154877) (1213248)

128505




















2010





(295462)





2009










2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609


4962877 4028717






ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure






























































1lt Heban pajak


I Laba per sbm



















ll Informasi segmen












p Use ofestimates







2010 2009






















2010

100585 55520 30723 18930 13335

10200

8765 3713 2595 1195 1095

3795

2009

3232 53328 15225 16827 6675

3774

1065 1095

5574

J~~









Valuta asing


Total valuta asing

5462

~~~

Foreign currency




1249249 1222897

2010 2009




525 - 800 I75 - 325

550 shy 1400 175










2010



Rp I roilyar) 448

2II~

903739


2010


882546



21193



2009




22474 PTGandum


~~~~


2009





22760 36281









2010 2009

Karyawan Lainnya

390 10875 11265

1481 24104 25585






2010



20174168


2009







2010 2009


97738 11855


109593 39229















11177134 107042 (9921) 467185 11741440 Assets under


12131004 ~~~~~ j~~~I) 33~3ss






(sIh54~) j~~SgS 5322 js9~7~3














10144530 3100 121453 (30443) 938494 11177134 Assets under


~~~3 31 1449IO _3~~~3l _ _I23hlltl~








2010 2009









2010





2010









2009




2010 2009


345506 19050 11844 35000

411400

332872 27264

6135 247073

613344








2010 2009




2683654


akhir tahun 794





KrediturlLellders





banks






3182762


968 at year end













2010






2009






8118 31- 60 days 3873 61 - 90 days

Over 90 days




2010


2009



108592

2973 495

2923

128505

3550 3

1053



Article 23126






2010


43493 2847

~~~~ 161323


2010 Pajak kin



1416507


2010







2009



187952


2009 Current



(8696) Subsidiaries

1342312


2009







Income tax expense














2010

5631296 (383732)

~~l~

14815

17474 (16913) 24927

~9~9~

106216 62444

(52) (90920)

Z~~~ 5365555

25 1341389

(58095) (95)

(1281892) (1340082)

1307

2009

4828213 (259078)

~s~~~~

11905

4788 (82677)

7893

~22))

338405 66098 (2243)

(121330)

z~~o 4791974

28 1341753

(58276) (95)

(1154877) (1213248)

128505




















2010





(295462)





2009










2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609


4962877 4028717






ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure






























































ll Informasi segmen












p Use ofestimates







2010 2009






















2010

100585 55520 30723 18930 13335

10200

8765 3713 2595 1195 1095

3795

2009

3232 53328 15225 16827 6675

3774

1065 1095

5574

J~~









Valuta asing


Total valuta asing

5462

~~~

Foreign currency




1249249 1222897

2010 2009




525 - 800 I75 - 325

550 shy 1400 175










2010



Rp I roilyar) 448

2II~

903739


2010


882546



21193



2009




22474 PTGandum


~~~~


2009





22760 36281









2010 2009

Karyawan Lainnya

390 10875 11265

1481 24104 25585






2010



20174168


2009







2010 2009


97738 11855


109593 39229















11177134 107042 (9921) 467185 11741440 Assets under


12131004 ~~~~~ j~~~I) 33~3ss






(sIh54~) j~~SgS 5322 js9~7~3














10144530 3100 121453 (30443) 938494 11177134 Assets under


~~~3 31 1449IO _3~~~3l _ _I23hlltl~








2010 2009









2010





2010









2009




2010 2009


345506 19050 11844 35000

411400

332872 27264

6135 247073

613344








2010 2009




2683654


akhir tahun 794





KrediturlLellders





banks






3182762


968 at year end













2010






2009






8118 31- 60 days 3873 61 - 90 days

Over 90 days




2010


2009



108592

2973 495

2923

128505

3550 3

1053



Article 23126






2010


43493 2847

~~~~ 161323


2010 Pajak kin



1416507


2010







2009



187952


2009 Current



(8696) Subsidiaries

1342312


2009







Income tax expense














2010

5631296 (383732)

~~l~

14815

17474 (16913) 24927

~9~9~

106216 62444

(52) (90920)

Z~~~ 5365555

25 1341389

(58095) (95)

(1281892) (1340082)

1307

2009

4828213 (259078)

~s~~~~

11905

4788 (82677)

7893

~22))

338405 66098 (2243)

(121330)

z~~o 4791974

28 1341753

(58276) (95)

(1154877) (1213248)

128505




















2010





(295462)





2009










2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609


4962877 4028717






ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure






























































2010 2009






















2010

100585 55520 30723 18930 13335

10200

8765 3713 2595 1195 1095

3795

2009

3232 53328 15225 16827 6675

3774

1065 1095

5574

J~~









Valuta asing


Total valuta asing

5462

~~~

Foreign currency




1249249 1222897

2010 2009




525 - 800 I75 - 325

550 shy 1400 175










2010



Rp I roilyar) 448

2II~

903739


2010


882546



21193



2009




22474 PTGandum


~~~~


2009





22760 36281









2010 2009

Karyawan Lainnya

390 10875 11265

1481 24104 25585






2010



20174168


2009







2010 2009


97738 11855


109593 39229















11177134 107042 (9921) 467185 11741440 Assets under


12131004 ~~~~~ j~~~I) 33~3ss






(sIh54~) j~~SgS 5322 js9~7~3














10144530 3100 121453 (30443) 938494 11177134 Assets under


~~~3 31 1449IO _3~~~3l _ _I23hlltl~








2010 2009









2010





2010









2009




2010 2009


345506 19050 11844 35000

411400

332872 27264

6135 247073

613344








2010 2009




2683654


akhir tahun 794





KrediturlLellders





banks






3182762


968 at year end













2010






2009






8118 31- 60 days 3873 61 - 90 days

Over 90 days




2010


2009



108592

2973 495

2923

128505

3550 3

1053



Article 23126






2010


43493 2847

~~~~ 161323


2010 Pajak kin



1416507


2010







2009



187952


2009 Current



(8696) Subsidiaries

1342312


2009







Income tax expense














2010

5631296 (383732)

~~l~

14815

17474 (16913) 24927

~9~9~

106216 62444

(52) (90920)

Z~~~ 5365555

25 1341389

(58095) (95)

(1281892) (1340082)

1307

2009

4828213 (259078)

~s~~~~

11905

4788 (82677)

7893

~22))

338405 66098 (2243)

(121330)

z~~o 4791974

28 1341753

(58276) (95)

(1154877) (1213248)

128505




















2010





(295462)





2009










2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609


4962877 4028717






ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure



































































2010

100585 55520 30723 18930 13335

10200

8765 3713 2595 1195 1095

3795

2009

3232 53328 15225 16827 6675

3774

1065 1095

5574

J~~









Valuta asing


Total valuta asing

5462

~~~

Foreign currency




1249249 1222897

2010 2009




525 - 800 I75 - 325

550 shy 1400 175










2010



Rp I roilyar) 448

2II~

903739


2010


882546



21193



2009




22474 PTGandum


~~~~


2009





22760 36281









2010 2009

Karyawan Lainnya

390 10875 11265

1481 24104 25585






2010



20174168


2009







2010 2009


97738 11855


109593 39229















11177134 107042 (9921) 467185 11741440 Assets under


12131004 ~~~~~ j~~~I) 33~3ss






(sIh54~) j~~SgS 5322 js9~7~3














10144530 3100 121453 (30443) 938494 11177134 Assets under


~~~3 31 1449IO _3~~~3l _ _I23hlltl~








2010 2009









2010





2010









2009




2010 2009


345506 19050 11844 35000

411400

332872 27264

6135 247073

613344








2010 2009




2683654


akhir tahun 794





KrediturlLellders





banks






3182762


968 at year end













2010






2009






8118 31- 60 days 3873 61 - 90 days

Over 90 days




2010


2009



108592

2973 495

2923

128505

3550 3

1053



Article 23126






2010


43493 2847

~~~~ 161323


2010 Pajak kin



1416507


2010







2009



187952


2009 Current



(8696) Subsidiaries

1342312


2009







Income tax expense














2010

5631296 (383732)

~~l~

14815

17474 (16913) 24927

~9~9~

106216 62444

(52) (90920)

Z~~~ 5365555

25 1341389

(58095) (95)

(1281892) (1340082)

1307

2009

4828213 (259078)

~s~~~~

11905

4788 (82677)

7893

~22))

338405 66098 (2243)

(121330)

z~~o 4791974

28 1341753

(58276) (95)

(1154877) (1213248)

128505




















2010





(295462)





2009










2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609


4962877 4028717






ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure






























































2010



Rp I roilyar) 448

2II~

903739


2010


882546



21193



2009




22474 PTGandum


~~~~


2009





22760 36281









2010 2009

Karyawan Lainnya

390 10875 11265

1481 24104 25585






2010



20174168


2009







2010 2009


97738 11855


109593 39229















11177134 107042 (9921) 467185 11741440 Assets under


12131004 ~~~~~ j~~~I) 33~3ss






(sIh54~) j~~SgS 5322 js9~7~3














10144530 3100 121453 (30443) 938494 11177134 Assets under


~~~3 31 1449IO _3~~~3l _ _I23hlltl~








2010 2009









2010





2010









2009




2010 2009


345506 19050 11844 35000

411400

332872 27264

6135 247073

613344








2010 2009




2683654


akhir tahun 794





KrediturlLellders





banks






3182762


968 at year end













2010






2009






8118 31- 60 days 3873 61 - 90 days

Over 90 days




2010


2009



108592

2973 495

2923

128505

3550 3

1053



Article 23126






2010


43493 2847

~~~~ 161323


2010 Pajak kin



1416507


2010







2009



187952


2009 Current



(8696) Subsidiaries

1342312


2009







Income tax expense














2010

5631296 (383732)

~~l~

14815

17474 (16913) 24927

~9~9~

106216 62444

(52) (90920)

Z~~~ 5365555

25 1341389

(58095) (95)

(1281892) (1340082)

1307

2009

4828213 (259078)

~s~~~~

11905

4788 (82677)

7893

~22))

338405 66098 (2243)

(121330)

z~~o 4791974

28 1341753

(58276) (95)

(1154877) (1213248)

128505




















2010





(295462)





2009










2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609


4962877 4028717






ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure






























































2010 2009

Karyawan Lainnya

390 10875 11265

1481 24104 25585






2010



20174168


2009







2010 2009


97738 11855


109593 39229















11177134 107042 (9921) 467185 11741440 Assets under


12131004 ~~~~~ j~~~I) 33~3ss






(sIh54~) j~~SgS 5322 js9~7~3














10144530 3100 121453 (30443) 938494 11177134 Assets under


~~~3 31 1449IO _3~~~3l _ _I23hlltl~








2010 2009









2010





2010









2009




2010 2009


345506 19050 11844 35000

411400

332872 27264

6135 247073

613344








2010 2009




2683654


akhir tahun 794





KrediturlLellders





banks






3182762


968 at year end













2010






2009






8118 31- 60 days 3873 61 - 90 days

Over 90 days




2010


2009



108592

2973 495

2923

128505

3550 3

1053



Article 23126






2010


43493 2847

~~~~ 161323


2010 Pajak kin



1416507


2010







2009



187952


2009 Current



(8696) Subsidiaries

1342312


2009







Income tax expense














2010

5631296 (383732)

~~l~

14815

17474 (16913) 24927

~9~9~

106216 62444

(52) (90920)

Z~~~ 5365555

25 1341389

(58095) (95)

(1281892) (1340082)

1307

2009

4828213 (259078)

~s~~~~

11905

4788 (82677)

7893

~22))

338405 66098 (2243)

(121330)

z~~o 4791974

28 1341753

(58276) (95)

(1154877) (1213248)

128505




















2010





(295462)





2009










2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609


4962877 4028717






ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure







































































11177134 107042 (9921) 467185 11741440 Assets under


12131004 ~~~~~ j~~~I) 33~3ss






(sIh54~) j~~SgS 5322 js9~7~3














10144530 3100 121453 (30443) 938494 11177134 Assets under


~~~3 31 1449IO _3~~~3l _ _I23hlltl~








2010 2009









2010





2010









2009




2010 2009


345506 19050 11844 35000

411400

332872 27264

6135 247073

613344








2010 2009




2683654


akhir tahun 794





KrediturlLellders





banks






3182762


968 at year end













2010






2009






8118 31- 60 days 3873 61 - 90 days

Over 90 days




2010


2009



108592

2973 495

2923

128505

3550 3

1053



Article 23126






2010


43493 2847

~~~~ 161323


2010 Pajak kin



1416507


2010







2009



187952


2009 Current



(8696) Subsidiaries

1342312


2009







Income tax expense














2010

5631296 (383732)

~~l~

14815

17474 (16913) 24927

~9~9~

106216 62444

(52) (90920)

Z~~~ 5365555

25 1341389

(58095) (95)

(1281892) (1340082)

1307

2009

4828213 (259078)

~s~~~~

11905

4788 (82677)

7893

~22))

338405 66098 (2243)

(121330)

z~~o 4791974

28 1341753

(58276) (95)

(1154877) (1213248)

128505




















2010





(295462)





2009










2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609


4962877 4028717






ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure





































































10144530 3100 121453 (30443) 938494 11177134 Assets under


~~~3 31 1449IO _3~~~3l _ _I23hlltl~








2010 2009









2010





2010









2009




2010 2009


345506 19050 11844 35000

411400

332872 27264

6135 247073

613344








2010 2009




2683654


akhir tahun 794





KrediturlLellders





banks






3182762


968 at year end













2010






2009






8118 31- 60 days 3873 61 - 90 days

Over 90 days




2010


2009



108592

2973 495

2923

128505

3550 3

1053



Article 23126






2010


43493 2847

~~~~ 161323


2010 Pajak kin



1416507


2010







2009



187952


2009 Current



(8696) Subsidiaries

1342312


2009







Income tax expense














2010

5631296 (383732)

~~l~

14815

17474 (16913) 24927

~9~9~

106216 62444

(52) (90920)

Z~~~ 5365555

25 1341389

(58095) (95)

(1281892) (1340082)

1307

2009

4828213 (259078)

~s~~~~

11905

4788 (82677)

7893

~22))

338405 66098 (2243)

(121330)

z~~o 4791974

28 1341753

(58276) (95)

(1154877) (1213248)

128505




















2010





(295462)





2009










2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609


4962877 4028717






ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure






























































2010





2010









2009




2010 2009


345506 19050 11844 35000

411400

332872 27264

6135 247073

613344








2010 2009




2683654


akhir tahun 794





KrediturlLellders





banks






3182762


968 at year end













2010






2009






8118 31- 60 days 3873 61 - 90 days

Over 90 days




2010


2009



108592

2973 495

2923

128505

3550 3

1053



Article 23126






2010


43493 2847

~~~~ 161323


2010 Pajak kin



1416507


2010







2009



187952


2009 Current



(8696) Subsidiaries

1342312


2009







Income tax expense














2010

5631296 (383732)

~~l~

14815

17474 (16913) 24927

~9~9~

106216 62444

(52) (90920)

Z~~~ 5365555

25 1341389

(58095) (95)

(1281892) (1340082)

1307

2009

4828213 (259078)

~s~~~~

11905

4788 (82677)

7893

~22))

338405 66098 (2243)

(121330)

z~~o 4791974

28 1341753

(58276) (95)

(1154877) (1213248)

128505




















2010





(295462)





2009










2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609


4962877 4028717






ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure






























































2010 2009




2683654


akhir tahun 794





KrediturlLellders





banks






3182762


968 at year end













2010






2009






8118 31- 60 days 3873 61 - 90 days

Over 90 days




2010


2009



108592

2973 495

2923

128505

3550 3

1053



Article 23126






2010


43493 2847

~~~~ 161323


2010 Pajak kin



1416507


2010







2009



187952


2009 Current



(8696) Subsidiaries

1342312


2009







Income tax expense














2010

5631296 (383732)

~~l~

14815

17474 (16913) 24927

~9~9~

106216 62444

(52) (90920)

Z~~~ 5365555

25 1341389

(58095) (95)

(1281892) (1340082)

1307

2009

4828213 (259078)

~s~~~~

11905

4788 (82677)

7893

~22))

338405 66098 (2243)

(121330)

z~~o 4791974

28 1341753

(58276) (95)

(1154877) (1213248)

128505




















2010





(295462)





2009










2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609


4962877 4028717






ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure































































2010






2009






8118 31- 60 days 3873 61 - 90 days

Over 90 days




2010


2009



108592

2973 495

2923

128505

3550 3

1053



Article 23126






2010


43493 2847

~~~~ 161323


2010 Pajak kin



1416507


2010







2009



187952


2009 Current



(8696) Subsidiaries

1342312


2009







Income tax expense














2010

5631296 (383732)

~~l~

14815

17474 (16913) 24927

~9~9~

106216 62444

(52) (90920)

Z~~~ 5365555

25 1341389

(58095) (95)

(1281892) (1340082)

1307

2009

4828213 (259078)

~s~~~~

11905

4788 (82677)

7893

~22))

338405 66098 (2243)

(121330)

z~~o 4791974

28 1341753

(58276) (95)

(1154877) (1213248)

128505




















2010





(295462)





2009










2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609


4962877 4028717






ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure






























































2010


43493 2847

~~~~ 161323


2010 Pajak kin



1416507


2010







2009



187952


2009 Current



(8696) Subsidiaries

1342312


2009







Income tax expense














2010

5631296 (383732)

~~l~

14815

17474 (16913) 24927

~9~9~

106216 62444

(52) (90920)

Z~~~ 5365555

25 1341389

(58095) (95)

(1281892) (1340082)

1307

2009

4828213 (259078)

~s~~~~

11905

4788 (82677)

7893

~22))

338405 66098 (2243)

(121330)

z~~o 4791974

28 1341753

(58276) (95)

(1154877) (1213248)

128505




















2010





(295462)





2009










2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609


4962877 4028717






ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure






































































2010

5631296 (383732)

~~l~

14815

17474 (16913) 24927

~9~9~

106216 62444

(52) (90920)

Z~~~ 5365555

25 1341389

(58095) (95)

(1281892) (1340082)

1307

2009

4828213 (259078)

~s~~~~

11905

4788 (82677)

7893

~22))

338405 66098 (2243)

(121330)

z~~o 4791974

28 1341753

(58276) (95)

(1154877) (1213248)

128505




















2010





(295462)





2009










2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609


4962877 4028717






ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure































































2010





(295462)





2009










2010 2009

Pita enkai PPNrokok

4186112 776765

3367108 661609


4962877 4028717






ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure






























































ZOIO 2009


7050 23813 20815 51678

46916 46619 20499

114034


lIJiscelianeCtus



2010 2009


128405 97480 21468

247353

21075 78366 25592

125033


Others





2010




2009









2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure
































































2010 2009








149929 142098












Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure

































































Rp julalmilion





Lainnya 455036300 2365 Ohe

1924088000 10000



Rp juralmillion






1924088000 10000











2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure






























































2010



I~n Lokal


x~~~ Jumlah


37691997


lumlahlAmount



200lt)


sales discounts)



Iamp5Q3S3 Domestic



3II221~8 Tolal



32973080







027 1461
















2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure







































































2010


258218










25807564


2009





214926







2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure






























































2010 2009







1382355 798872 205171 128296 170024 54368 44157 26988 31695 22034

1833402 1030558





2010 2009

552416 424287 109184 73560 92636 79415 57347 53456

52872 36528 34801 33306 31379 24693

22179 18761 221510 184115












2010

5857861 4146282

1924088 3044 2155

2009

5206837 3455702

1924088 2706 1796


























HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure















































































HASIL Hasll segmen


aSOSlas





Kewajiban segmen




Rokok Cigarettes

36655916

36655916

5730990

(238285)

29426712

29426712

924855J

774276

Kertas kaftan

Paperboard

135088

1222979

1272979

207705

6560

28425

Lain~lainl Olbers

20

20

(52)

39

2010


(387151) (387151)

3555

(83126)

(83116)

(69996)


37691997 SALES


Total sales




563 1296 (1416507) 4214789

(68507) 4146282

30732408 9271

30741679

9421403

1193)72

802740

Profit before (fX



NetprofiJ



Segment liabilities






35234297 1421619 36655916 545505 490556 1036061

_-~20 ---=rr __-=~2035779822 __~=_ =====37~(fJ=1997_


Paperboan1 Others


29413580 29413580 1237985 1237985

9()1I4 90114 30741679 -----shy ---3074TI6F79


Olhers


1186712 1186712 _---656-0 ____~__TT16~56O


Paperboard 1193272 _===== ==j1~93272








Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure
































































Rolrok I

32018402

Kertas kartonl

Paperboard

954678 367442

1322120

2009

Lain~lainf Obers


(367442) (367442)


32973080

32973080

By business segment










Laba bcrsih

(445230)

(540)

(445230)

(540)

4826213 (1342312)

348590J






Netprofit



26094682 1201050

1201050

249825 (323863)

(323863)











30604071 518657

1414331 436021

32018402 954678


Paperboard 31122728 J85035~ 32973080


26077997 1137832

15136

26077997 1137832

J5136


01hers 27230965 27230965


1136443 8467 3100

1136443 8467 3JOO


Paperboard Others

1148010 1148010








2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure
































































2010










2009



Other receivables




















Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure

































































Risiko likuiditas











Liquidity risk



Interest rate risk












2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure
































































2010





Eksposur bersih




17082569 1435386 3857 170785 22235123 199916

393g6921~353~ ~~ 39Q~

(19523050) (552246) (29974) (182404) (271463) (2441) (414844) (10031764) (370515) (126999)

YQ2Q93~ (1Q5~~22) J~Q9~~) Q~~~~)

19108335 (9148624) (396632) =58857=

2009





Total liabilities

Net exposure


























































lG GARAM Tbk DAN ANAK PERUSAHAANI PT GUDANG...

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