daily update july 31, 2012 - panin-am.co.id news 2012-0… · daily update july 31, 2012...

DAILY UPDATE July 31, 2012

MACROECONOMIC NEWS

Japan Economy – Unemployment in Japan unexpectedly

declined in June to 4.3% from 4.4% a month earlier. Despite the

gain in Yen and weak demand from Europe that is hurting

Japanese exports, improvement in jobless rate provided a

positive sign to the economy.

Europe Confidence Index – European economic confidence, as

measured by an index of executive and consumer sentiment in

17-nation euro area declined to 87.9 from 89.9 in June. The

latest reading is the lowest level since September 2009,

suggesting that the economy’s slump extended to the third

quarter as the European leaders struggles to tame the debt

crisis.

CORPORATE NEWS

APLN – PT Agung Podomoro Land is considering to upsize the

size of the 5 year bonds by IDR 400 billion to IDR 1.2 trillion on

the back of strong demand. The coupon is talked at 9.27%-

9.87%.

SIPD – Associate director of PT Sierad Produce claimed that

broiler chicken price is decreasing to a stable IDR 24,000-

25,000/kg from previously IDR 33,000/kg due to lower demand

in Ramadan.

BMRI – PT Bank Mandiri is able to trade recap bonds of IDR 1.8

trillion through debt swap with Standard Chartered Bank

Singapore. BMRI receives USD 250 million loans in return of the

recap bonds. BMRI owns recap bonds of IDR 78 trillion (IDR 54

trillion is available for sale and IDR 24 trillion is held to

maturity). On a separate note, BMRI channeled loan of IDR

119.2 trillion, up 23.9% yoy, however its current account, saving

account, and time deposits are up to 26%, 7%, and 65%

respectively.

PT. Panin Asset Management JSX Building Tower I, 3rd Floor Jl. Jend. Sudirman Kav. 52-53 , Jakarta 12190 T : (021) 515-0595 , F : (021) 515-0601

Equity Markets Closing % Change

Dow Jones 13073 0.0

NASDAQ 2946 -0.4

MSCI excl. Jap 482 1.2

Nikkei 8607 -0.3

Hang Seng 19661 0.4

STI 3013 -0.7

JCI 4099 0.4

Indo ETF (IDX) 28.4 -0.4

Indo ETF (EIDO) 29.5 -0.5

Currency

Closing Last Trade

US$ - IDR 9492 9480.8

US$ - Yen 78.18 78.15

Euro - US$ 1.226 1.2276

US$ - SG$ 1.2462 1.246

Commodities

Last Price Chg %Chg

Oil NYMEX 89.7 -0.36 -0.4

Coal NYMEX 60.5 1.36 2.3

Coal Newcastle 83.3 2.1 2.6

Nickel 16250 370 2.3

Tin 18270 155 0.9

Gold 1625 3.5 0.2

CPO Rott 980 0 0.0

CPO Malay 2882 -13.5 -0.5

Indo Gov. Bond Yields

Last Yield Chg %Chg

1 year 4.83 0.00 0.1

3 year 5.23 -0.01 -0.1

5 year 5.36 0.00 0.0

10 year 5.74 0.00 -0.1

15 year 6.20 0.00 0.0

30 year 6.53 0.00 0.0

CORPORATE NEWS - cont’d

BWPT – PT BW Plantation released its 6m 2012 financial result: BWPT (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

477 520 9.09%

268 253 -5.60%

Gross Profit

328 322 -1.67%

163 159 -2.56%

Operating Profit

277 252 -9.02%

120 132 10.24%

Pretax Earnings

231 209 -9.76%

108 101 -6.58%

Net Income

171 154 -9.79%

82 72 -12.96%

EPS

41 37 -9.79%

20 17 -12.94%

Gross Profit Margin

68.7% 61.9% -6.8%

61.0% 62.9% 2.0%

Operating Profit Margin

58.1% 48.4% -9.6%

44.8% 52.3% 7.5%

Net Profit Margin

35.8% 29.6% -6.2%

30.7% 28.3% -2.4%

TSPC – PT Tempo Scan Pasific released its 6m 2012 financial result: TSPC (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

2,751 3,234 17.53%

1,545 1,689 9.36%

Gross Profit

1,070 1,272 18.82%

608 664 9.19%

Operating Profit

410 472 15.12%

241 231 -3.81%

Pretax Earnings

449 508 13.17%

259 249 -4.01%

Net Income

367 416 13.38%

222 195 -12.19%

EPS

80 91 13.75%

49 42 -15.21%

Gross Profit Margin

38.9% 39.3% 0.4%

39.4% 39.3% -0.1%


14.9% 14.6% -0.3%

15.6% 13.7% -1.9%

Net Profit Margin

13.3% 12.9% -0.5%

14.3% 11.5% -2.8%

TBLA – PT Tunas Baru Lampung released its 6m 2012 financial result:

TBLA (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

2,078 1,935 -6.89%

1,007 928 -7.89%

Gross Profit

754 586 -22.27%

305 282 -7.52%

Operating Profit

365 327 -10.39%

171 157 -8.20%

Pretax Earnings

406 235 -42.02%

143 92 -35.78%

Net Income

314 186 -40.94%

111 75 -32.39%

EPS

67 37 -44.10%

22 15 -33.97%

Gross Profit Margin

36.3% 30.3% -6.0%

30.2% 30.4% 0.1%


17.6% 16.9% -0.7%

16.9% 16.9% -0.1%

Net Profit Margin

15.1% 9.6% -5.5%

11.0% 8.1% -2.9%

INTP – PT Indocement Tunggal Prakarsa released its 6m 2012 financial result: INTP (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

6,331 8,193 29.40%

3,849 4,344 12.85%

Gross Profit

3,002 3,778 25.87%

1,769 2,009 13.57%

Operating Profit

2,119 2,663 25.66%

1,208 1,455 20.47%

Pretax Earnings

2,262 2,832 25.20%

1,305 1,527 17.06%

Net Income

1,729 2,166 25.27%

1,000 1,166 16.66%

EPS

469 588 25.47%

272 317 16.54%

Gross Profit Margin

47.4% 46.1% -1.3%

46.0% 46.3% 0.3%


33.5% 32.5% -1.0%

31.4% 33.5% 2.1%

Net Profit Margin

27.3% 26.4% -0.9%

26.0% 26.9% 0.9%


SGRO – PT Sampoerna Agro reported its 6M12 financial reports:

SGRO (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

1,711 1,390 -18.76%

684 707 3.41%

Gross Profit

672 395 -41.26%

187 208 11.44%

Operating Profit

490 229 -53.36%

87 142 62.33%

Pretax Earnings

487 212 -56.54%

78 133 70.21%

Net Income

362 154 -57.33%

61 93 51.57%

EPS

188 79 -57.98%

32 47 46.88%

Gross Profit Margin

39.3% 28.4% -10.9%

27.3% 29.4% 2.1%


28.7% 16.5% -12.2%

12.8% 20.0% 7.3%

Net Profit Margin

21.1% 11.1% -10.0%

9.0% 13.2% 4.2%

GGRM – PT Gudang Garam reported its 6M12 financial reports:

GGRM (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

19,845 23,559 18.71%

11,476 12,083 5.29%

Gross Profit

4,778 4,548 -4.81%

2,403 2,145 -10.73%

Operating Profit

3,171 3,047 -3.90%

1,743 1,304 -25.21%

Pretax Earnings

3,100 2,837 -8.47%

1,633 1,204 -26.26%

Net Income

2,325 2,128 -8.47%

1,209 919 -23.99%

EPS

1,192 1,092 -8.39%

628 464 -26.11%

Gross Profit Margin

24.1% 19.3% -4.8%

20.9% 17.8% -3.2%


16.0% 12.9% -3.0%

15.2% 10.8% -4.4%

Net Profit Margin

11.7% 9.0% -2.7%

10.5% 7.6% -2.9%

GZCO – PT Gozco Plantation reported its 6M12 financial reports:

GZCO (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

214 166 -22.50%

84 82 -2.48%

Gross Profit

70 58 -16.37%

26 33 26.35%

Operating Profit

51 35 -31.79%

15 19 29.12%

Pretax Earnings

98 51 -48.41%

34 17 -49.49%

Net Income

89 48 -46.10%

34 14 -57.90%

EPS

18 10 -46.10%

7 3 -57.90%

Gross Profit Margin

32.7% 35.2% 2.6%

30.8% 39.9% 9.1%


23.7% 20.8% -2.8%

18.0% 23.8% 5.8%

Net Profit Margin

41.4% 28.8% -12.6%

40.0% 17.3% -22.7%

MASA – PT Multistrada reported its 6M12 financial reports:

MASA (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

1,378 1,608 16.64%

794 814 2.52%

Gross Profit

258 306 18.76%

154 152 -1.57%

Operating Profit

152 151 -0.78%

77 74 -3.19%

Pretax Earnings

158 15 -90.53%

24 (9) -137.34%

Net Income

122 6 -94.82%

17 (11) -163.92%

EPS

13 1 -94.82%

2 (1) -163.92%

Gross Profit Margin

18.7% 19.1% 0.3%

19.5% 18.7% -0.8%


11.0% 9.4% -1.6%

9.6% 9.1% -0.5%

Net Profit Margin

8.8% 0.4% -8.4%

2.2% -1.4% -3.6%


BYAN – PT Bayan Resources reported its 6M12 financial reports:

BYAN (USD mio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

729 787 7.99%

399 387 -2.94%

Gross Profit

228 159 -30.02%

88 71 -19.59%

Operating Profit

181 90 -50.25%

52 38 -26.63%

Pretax Earnings

156 71 -54.58%

46 25 -46.91%

Net Income

110 50 -54.36%

33 18 -46.76%

EPS

0 0 -54.36%

0 0 -46.76%

Gross Profit Margin

31.2% 20.2% -11.0%

22.1% 18.3% -3.8%


24.9% 11.5% -13.4%

13.0% 9.9% -3.2%

Net Profit Margin

15.2% 6.4% -8.7%

8.2% 4.5% -3.7%

BBNI – PT Bank Negara Indonesia reported its 6M12 financial reports:

BBNI (IDR bio) 6m 2011 6m 2012 YoY

Q1 2012 Q2 2012 QoQ

Net Interest Income

6,087.20 7,226.88 18.7%

3,496.90 3,729.98 6.7% Non Interest Income

3,708.23 3,805.95 2.6%

1,744.19 2,061.76 18.2%

Other Operating Expense

6,013.07 7,105.67 18.2%

3,378.65 3,727.02 10.3% Operating Profit

3,782.36 3,927.16 3.8%

1,862.44 2,064.72 10.9%

Net Income Before Tax

3,656.36 4,105.15 12.3%

1,962.99 2,142.16 9.1% Net Income

2,731.66 3,289.68 20.4%

1,540.18 1,749.50 13.6%

EPS (diluted)

146.00 176.00 20.5%

83.00 93.00 12.0%

Jun '11 Jun '12 YoY

Mar '12 Jun '12 QoQ

CAR (after Market Risk)

17.34% 16.76% -3.3%

18.11% 16.76% -7.5% NIM

5.90% 5.77% -2.2%

5.97% 5.77% -3.4%

ROE

18.99% 19.66% 3.5%

18.40% 19.66% 6.8% ROA

3.05% 2.81% -7.9%

2.76% 2.81% 1.8%

NPL (Gross)

4.03% 3.44% -14.6%

3.58% 3.44% -3.9% NPL (Net)

0.73% 0.71% -2.7%

0.65% 0.71% 9.2%

LDR

76.08% 73.61% -3.2%

74.36% 73.61% -1.0%

TLKM – PT Telekomunikasi Indonesia published its 6M 2012 financial results:

TLKM (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

34,371 36,720 6.8%

17,796 18,924 6.3%

Gross Profit

17,669 19,766 11.9%

9,600 10,166 5.9%

Operating Profit

11,317 12,298 8.7%

6,220 6,078 -2.3%

Pretax Earnings

10,782 12,004 11.3%

6,071 5,933 -2.3%

Net Income

5,940 6,428 8.2%

3,322 3,106 -6.5%

EPS

302 334 10.6%

172 162 -6.1%

Gross Profit Margin

51.4% 53.8% 2.4%

53.9% 53.7% -0.2%


32.9% 33.5% 0.6%

35.0% 32.1% -2.8%

Net Profit Margin

17.3% 17.5% 0.2%

18.7% 16.4% -2.3%


BBCA – PT Bank Central Asia reported its 6m12 financial reports:

BBCA (IDR bio) 6m 2011 6m 2012 YoY

Q1 2012 Q2 2012 QoQ

Net Interest Income

8,030.93 9,189.81 14.4%


4,031.06 6,088.05 51.0%

3,183.87 2,904.18 -8.8%


6,080.95 8,884.72 46.1%

4,833.50 4,051.22 -16.2% Operating Profit

5,981.04 6,393.14 6.9%

2,818.84 3,574.31 26.8%


6,060.42 6,672.32 10.1%

2,895.11 3,777.21 30.5% Net Income

4,792.61 5,297.37 10.5%

2,303.70 2,993.67 30.0%

EPS (diluted)

197.00 217.00 10.2%

95.00 122.00 28.4%

Jun '11 Jun '12 YoY

Mar '12 Jun '12 QoQ


13.92% 14.69% 5.5%

15.41% 14.69% -4.7% NIM

5.63% 5.34% -5.2%

5.24% 5.34% 1.9%

ROE

30.83% 28.98% -6.0%

22.08% 28.98% 31.3% ROA

3.62% 3.45% -4.7%

2.70% 3.45% 27.8%

NPL (Gross)

0.65% 0.53% -18.5%

0.58% 0.53% -8.6% NPL (Net)

0.26% 0.36% 38.5%

0.30% 0.36% 20.0%

LDR

55.87% 65.45% 17.1%

61.60% 65.45% 6.3%

BMRI – PT Bank Mandiri reported its 2Q12 results:

BMRI (IDR bio) 6m 2011 6m 2012 YoY

Q1 2012 Q2 2012 QoQ

Net Interest Income

10,726.70 13,090.60 22.0%


6,176.64 5,785.07 -6.3%

2,742.49 3,042.57 10.9%


9,316.80 10,762.81 15.5%


8,421.85 9,211.44 9.4%

4,316.44 4,895.00 13.4%


8,501.91 9,411.59 10.7%

4,490.38 4,921.21 9.6% Net Income

6,514.24 7,404.84 13.7%

3,402.75 4,002.09 17.6%

EPS (diluted)

270.98 306.30 13.0%

145.83 160.47 10.0%

Jun '11 Jun '12 YoY

Mar '12 Jun '12 QoQ


16.73% 16.15% -3.5%

17.54% 16.15% -7.9% NIM

5.26% 5.38% 2.3%

5.22% 5.38% 3.1%

ROE

27.20% 25.19% -7.4%

23.46% 25.19% 7.4% ROA

3.66% 3.35% -8.5%

3.25% 3.35% 3.1%

NPL (Gross)

2.22% 1.95% -12.2%

2.18% 1.95% -10.6% NPL (Net)

0.51% 0.44% -13.7%

0.46% 0.44% -4.3%

LDR

73.43% 81.42% 10.9%

78.97% 81.42% 3.1%


PNBN – PT Panin Bank reported its 2Q12 results:

PNBN (IDR bio) 6m 2011 6m 2012 YoY

Q1 2012 Q2 2012 QoQ

Net Interest Income

2,387.21 2,656.86 11.3%


1,030.66 1,144.05 11.0%

540.75 603.30 11.6%


2,144.50 2,148.05 0.2%


1,273.36 1,652.86 29.8%

794.59 858.27 8.0%


1,284.14 1,684.18 31.2%

810.92 873.26 7.7% Net Income

954.71 1,291.41 35.3%

555.95 735.46 32.3%

EPS (diluted)

34.83 47.78 37.2%

20.57 27.21 32.3%

Jun '11 Jun '12 YoY

Mar '12 Jun '12 QoQ


15.68% 16.60% 5.9%

17.43% 16.60% -4.8% NIM

4.39% 4.14% -5.7%

4.09% 4.14% 1.2%

ROE

13.89% 16.30% 17.4%

15.64% 16.30% 4.2% ROA

1.91% 2.14% 12.0%

2.12% 2.14% 0.9%

NPL (Gross)

3.83% 3.25% -15.1%

3.61% 3.25% -10.0% NPL (Net)

2.11% 0.66% -68.7%

1.01% 0.66% -34.7%

LDR

79.41% 87.83% 10.6%

80.49% 87.83% 9.1%

GJTL – PT Gajah Tunggal reported its 2Q12 results:

GJTL (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

5,817 6,366 9.44%

3,146 3,220 2.36%

Gross Profit

769 1,108 44.16%

558 550 -1.35%

Operating Profit

441 745 68.76%

393 351 -10.66%

Pretax Earnings

533 642 20.57%

324 319 -1.59%

Net Income

422 526 24.72%

254 272 6.95%

EPS

121 151 24.79%

73 78 6.85%

Gross Profit Margin

13.2% 17.4% 4.2%

17.73% 17.09% -0.6%


7.6% 11.7% 4.1%

12.51% 10.92% -1.6%

Net Profit Margin

7.3% 8.3% 1.0%

8.08% 8.45% 0.4%

PANS – PT Panin Sekuritas reported its 2Q12 results:

PANS (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

168 204 21.59%

121 83 -31.37%

Operating Profit

123 145 17.74%

92 53 -42.27%

Pretax Earnings

119 138 16.55%

89 50 -43.98%

Net Income

104 112 7.26%

76 36 -52.42%

EPS

136 145 7.26%

100 45 -55.00%


73.5% 71.2% -2.3%

76.12% 64.03% -12.1%

Net Profit Margin

62.3% 54.9% -7.3%

62.77% 43.52% -19.2%


TOTO – PT Surya Toto Indonesia reported its 2Q12 results:

TOTO (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

666 786 17.96%

373.19 412.84 10.63%

Gross Profit

227 248 9.34%

63.16 139.82 121.37%

Operating Profit

176 197 11.73%

37.94 111.76 194.58%

Pretax Earnings

175 167 -4.56%

36.44 82.55 126.54%

Net Income

131 126 -4.18%

25.68 62.42 143.03%

EPS

2,648.0 2,537 -4.19%

518.50 1259.95 143.00%

Gross Profit Margin

34.1% 31.6% -2.5%

16.9% 33.9% 16.9%


26.5% 25.1% -1.4%

10.2% 27.1% 16.9%

Net Profit Margin

19.7% 16.0% -3.7%

6.9% 15.1% 8.2%

ACES – PT Ace Hardware Indonesia published its 6M 2012 financial results:

ACES (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

1,064 1,442 35.5%

721 721 0.1%

Gross Profit

488 705 44.6%

348 357 2.4%

Operating Profit

141 216 54.0%

113 103 -8.4%

Pretax Earnings

145 223 54.2%

116 108 -7.2%

Net Income

111 170 53.4%

88 82 -7.4%

EPS

65 99 53.3%

51 48 -7.6%

Gross Profit Margin

45.8% 48.9% 3.1%

48.3% 49.5% 1.1%


13.2% 15.0% 1.8%

15.7% 14.3% -1.3%

Net Profit Margin

10.4% 11.8% 1.4%

12.2% 11.3% -0.9%

HMSP – PT Hanjaya Mandala Sampoerna published its 6M 2012 financial results:

HMSP (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

24,684 31,886 29.2%

15,403 16,484 7.0%

Gross Profit

7,068 8,861 25.4%

4,344 4,518 4.0%

Operating Profit

5,185 6,571 26.7%

3,324 3,247 -2.3%

Pretax Earnings

5,185 6,571 26.7%

3,324 3,247 -2.3%

Net Income

3,792 4,879 28.7%

2,476 2,403 -3.0%

EPS

865 1,113 28.7%

565 548 -3.0%

Gross Profit Margin

28.6% 27.8% -0.8%

28.2% 27.4% -0.8%


21.0% 20.6% -0.4%

21.6% 19.7% -1.9%

Net Profit Margin

15.4% 15.3% -0.1%

16.1% 14.6% -1.5%


EMTK – PT Elang Mahkota Teknologi published its 6M 2012 financial results:

EMTK (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

1,786 2,190 22.6%

1,060 1,130 6.6%

Gross Profit

825 1,091 32.2%

489 602 23.0%

Operating Profit

531 605 13.9%

251 354 40.8%

Pretax Earnings

538 1,599 196.9%

232 1,367 488.5%

Net Income

341 1,347 294.6%

123 1,224 894.2%

EPS

67 239 258.6%

22 217 895.4%

Gross Profit Margin

46.2% 49.8% 3.6%

46.1% 53.3% 7.1%


29.7% 27.6% -2.1%

23.7% 31.3% 7.6%

Net Profit Margin

19.1% 61.5% 42.4%

11.6% 108.3% 96.7%

ISAT – PT Indosat published its 6M 2012 financial results:

ISAT (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

10,042 10,377 3.3%

4,977 5,400 8.5%

Gross Profit

3,322 2,944 -11.4%

1,398 1,545 10.5%

Operating Profit

1,413 1,448 2.5%

634 814 28.5%

Pretax Earnings

1,062 4 -99.7%

15 (12) -176.2%

Net Income

725 (132) -118.2%

17 (149) -989.2%

EPS

133 (24) -118.2%

3 (27) -983.9%

Gross Profit Margin

33.1% 28.4% -4.7%

28.1% 28.6% 0.5%


14.1% 14.0% -0.1%

12.7% 15.1% 2.3%

Net Profit Margin

7.2% -1.3% -8.5%

0.3% -2.8% -3.1%

ERAA – PT Erajaya Swasembada published its 6M 2012 financial results:

ERAA (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

2,036 6,406 214.7%

3,172 3,234 2.0%

Gross Profit

222 563 154.2%

246 318 29.2%

Operating Profit

109 307 182.6%

119 188 58.7%

Pretax Earnings

96 287 199.1%

108 179 64.9%

Net Income

67 212 217.0%

79 133 67.1%

EPS

34 73 114.7%

39 34 -12.8%

Gross Profit Margin

10.9% 8.8% -2.1%

7.7% 9.8% 2.1%


5.3% 4.8% -0.5%

3.7% 5.8% 2.1%

Net Profit Margin

3.3% 3.3% 0.0%

2.5% 4.1% 1.6%


CMNP – PT Citra Marga Nusaphala Persada published its 6m 2012 financial results:

CMNP (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

386 443 14.9%

218 225 3.0%

Gross Profit

273 336 23.1%

150 187 24.9%

Operating Profit

226 280 23.6%

103 177 71.6%

Pretax Earnings

208 270 29.9%

101 170 68.8%

Net Income

166 214 29.4%

80 134 68.6%

EPS

82 107 31.0%

40 68 69.8%

Gross Profit Margin

70.8% 75.9% 5.1%

68.5% 83.1% 14.5%


58.6% 63.1% 4.5%

47.1% 78.5% 31.4%

Net Profit Margin

42.9% 48.3% 5.4%

36.5% 59.8% 23.3%

TINS – PT Timah reported its 6m12 financial reports:

TINS (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

4,830 4,130 -14.51%

2,173 1,957 -9.96%

Gross Profit

1,252 790 -36.95%

453 337 -25.55%

Operating Profit

935 481 -48.51%

315 166 -47.42%

Pretax Earnings

930 479 -48.51%

297 182 -38.55%

Net Income

689 336 -51.26%

208 128 -38.32%

EPS

137 67 -51.26%

41 25 -38.32%

Gross Profit Margin

25.9% 19.1% -6.8%

20.8% 17.2% -3.6%


19.4% 11.7% -7.7%

14.5% 8.5% -6.0%

Net Profit Margin

14.3% 8.1% -6.1%

9.6% 6.5% -3.0%

INCO – PT Vale Indonesia reported its 6m12 financial reports:

INCO (USD mio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

715 425 -40.54%

197 228 15.97%

Gross Profit

349 44 -87.42%

26 18 -31.86%

Operating Profit

333 40 -87.96%

23 17 -26.66%

Pretax Earnings

320 8 -97.55%

5 3 -52.77%

Net Income

238 6 -97.68%

4 2 -55.90%

EPS

0.0240 0.0006 -97.68%

0.0004 0.0002 -55.90%

Gross Profit Margin

48.7% 10.3% -38.4%

13.2% 7.8% -5.5%


46.6% 9.4% -37.2%

11.8% 7.4% -4.3%

Net Profit Margin

33.3% 1.3% -32.0%

1.9% 0.7% -1.2%


MYOR – PT Mayora Indah reported its 6m12 financial reports:

MYOR (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

4,211 5,442 29.23%

2,567 2,875 12.02%

Gross Profit

749 1,120 49.59%

499 621 24.55%

Operating Profit

273 507 85.92%

215 292 35.67%

Pretax Earnings

200 436 117.80%

179 256 43.01%

Net Income

153 336 119.58%

139 197 41.66%

EPS

200 439 119.58%

182 257 41.66%

Gross Profit Margin

17.8% 20.6% 2.8%

19.4% 21.6% 2.2%


6.5% 9.3% 2.8%

8.4% 10.2% 1.8%

Net Profit Margin

3.6% 6.2% 2.5%

5.4% 6.9% 1.4%

SMRA – PT Summarecon Agung reported its 6m12 financial reports:

SMRA (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

939 1,515 61.37%

814 700 -14.00%

Gross Profit

452 755 67.22%

358 397 10.82%

Operating Profit

224 409 82.90%

205 204 -0.73%

Pretax Earnings

220 393 78.84%

197 196 -0.91%

Net Income

155 311 100.33%

150 161 7.59%

EPS

23 45 100.33%

22 23 7.59%

Gross Profit Margin

48.1% 49.9% 1.7%

44.0% 56.7% 12.7%


23.8% 27.0% 3.2%

25.2% 29.1% 3.9%

Net Profit Margin

16.5% 20.5% 4.0%

18.4% 23.0% 4.6%

KAEF – PT KAEF reported its 6m12 financial reports:

KAEF (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

1,410 1,583 12.33%

710 874 23.07%

Gross Profit

414 508 22.61%

214 294 37.13%

Operating Profit

53 114 113.39%

42 72 73.57%

Pretax Earnings

60 120 99.71%

45 75 68.19%

Net Income

40 84 109.78%

30 53 74.99%

EPS

7 15 109.78%

5 10 74.99%

Gross Profit Margin

29.4% 32.1% 2.7%

30.2% 33.6% 3.4%


3.8% 7.2% 3.4%

5.8% 8.2% 2.4%

Net Profit Margin

2.8% 5.3% 2.5%

4.3% 6.1% 1.8%

TBIG – PT Tower Bersama Infrastructure reported its 6m12 financial reports:

TBIG (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

440 647 46.93%

310 338 9.10%

Gross Profit

376 552 46.83%

263 288 9.64%

Operating Profit

322 476 47.92%

227 249 9.60%

Pretax Earnings

280 340 21.38%

173 167 -3.56%

Net Income

216 283 31.06%

142 141 -0.53%

EPS

47 62 31.06%

31 31 -0.53%

Gross Profit Margin

85.3% 85.2% -0.1%

85.0% 85.4% 0.4%


73.1% 73.6% 0.5%

73.4% 73.7% 0.3%

Net Profit Margin

49.0% 43.7% -5.3%

45.8% 41.8% -4.0%


DLTA – PT Delta Djakarta reported its 6m12 financial reports:

DLTA (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

266 349 31.11%

181 168 -7.36%

Gross Profit

188 250 32.91%

128 122 -4.54%

Operating Profit

90 133 47.80%

70 63 -10.23%

Pretax Earnings

98 140 42.83%

73 67 -9.18%

Net Income

71 103 45.39%

54 49 -8.76%

EPS

4,409 6,410 45.39%

3,352 3,058 -8.76%

Gross Profit Margin

70.5% 71.5% 1.0%

70.4% 72.6% 2.1%


33.8% 38.1% 4.3%

38.7% 37.5% -1.2%

Net Profit Margin

26.5% 29.4% 2.9%

29.6% 29.1% -0.4%

INDY – PT Indika Energy reported its 6m12 financial reports:

INDY (USD mio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

228 334 46.72%

162 172 5.93%

Gross Profit

41 87 109.87%

39 47 20.65%

Operating Profit

(2) 23 -

10 14 46.29%

Pretax Earnings

76 105 38.44%

76 28 -62.77%

Net Income

65 80 22.03%

50 29 -41.60%

EPS

0.013 0.015 22.03%

0.010 0.006 -41.60%

Gross Profit Margin

18.2% 26.0% 7.8%

24.3% 27.6% 3.4%


-0.8% 7.0% 7.8%

5.9% 8.1% 2.2%

Net Profit Margin

28.7% 23.8% -4.8%

31.0% 17.1% -13.9%

LPKR – PT Lippo Karawaci announced its 2Q12 results:

LPKR (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

1,883 2,406 27.74%

1171 1235 5.46%

Gross Profit

803 1,152 43.44%

544 609 11.92%

Operating Profit

379 600 58.23%

279 321 14.92%

Pretax Earnings

457 655 43.51%

299 356 18.83%

Net Income

298 437 46.85%

205 232 13.14%

EPS

12.9 19.0 46.85%

8.9 10.1 13.14%

Gross Profit Margin

42.7% 47.9% 5.2%

46.4% 49.3% 2.8%


20.1% 25.0% 4.8%

23.9% 26.0% 2.1%

Net Profit Margin

15.8% 18.2% 2.4%

17.5% 18.8% 1.3%


RALS – PT Ramayana Lestari Sentosa announced its 2Q12 results:

RALS (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

2,090 2,398 14.77%

1078.60 1319.66 22.35%

Gross Profit

681 764 12.16%

348.18 415.85 19.44%

Operating Profit

50.61 89.34 76.54%

27.70 61.64 122.50%

Pretax Earnings

76.18 115.37 51.45%

42.86 72.51 69.16%

Net Income

73.71 102.61 39.21%

39.66 62.95 58.71%

EPS

10.4 14.5 39.21%

5.6 8.9 58.71%

Gross Profit Margin

32.6% 31.9% -0.7%

32.3% 31.5% -0.8%


2.4% 3.7% 1.3%

2.6% 4.7% 2.1%

Net Profit Margin

3.5% 4.3% 0.8%

3.7% 4.8% 1.1%

BSDE – PT Bumi Serpong Damai announced its 2Q12 results:

BSDE (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

1,289 1,603 24.42%

800 803 0.37%

Gross Profit

798 1,007 26.15%

499 508 1.96%

Operating Profit

449 567 26.11%

260 307 17.99%

Pretax Earnings

526 677 28.55%

341 336 -1.28%

Net Income

388 507 30.58%

265 242 -8.86%

EPS

22.2 29.0 30.58%

15.1 13.8 -8.86%

Gross Profit Margin

62.0% 62.8% 0.9%

62.3% 63.3% 1.0%


34.9% 35.3% 0.5%

32.5% 38.2% 5.7%

Net Profit Margin

30.1% 31.6% 1.5%

33.1% 30.1% -3.0%

SMAR – PT Sinar Mas Agro Resources announced its 2Q12 results:

SMAR (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

16,348 13,587 -16.89%

7827 5760 -26.41%

Gross Profit

4,134 3,254 -21.28%

1833 1422 -22.42%

Operating Profit

1414 1663 17.63%

960 704 -26.71%

Pretax Earnings

1535 1494 -2.70%

881 613 -30.41%

Net Income

1159 1112 -4.05%

652 460 -29.52%

EPS

403.6 387.3 -4.05%

227.2 160.1 -29.52%

Gross Profit Margin

25.3% 24.0% -1.3%

23.4% 24.7% 1.3%


8.7% 12.2% 3.6%

12.3% 12.2% 0.0%

Net Profit Margin

7.1% 8.2% 1.1%

8.3% 8.0% -0.4%


KRAS – PT Krakatau Steel announced its 2Q12 results:

KRAS (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

8,411 11,023 31.06%

5718 5305 -7.22%

Gross Profit

904 860 -4.79%

481 380 -21.00%

Operating Profit

326 212 -35.03%

164 48 -70.83%

Pretax Earnings

1480 145 -90.20%

67 78 17.84%

Net Income

1096 107 -90.22%

59 48 -17.89%

EPS

69.5 6.8 -90.22%

3.7 3.1 -17.89%

Gross Profit Margin

10.7% 7.8% -2.9%

8.4% 7.2% -1.2%


3.9% 1.9% -2.0%

2.9% 0.9% -2.0%

Net Profit Margin

13.0% 1.0% -12.1%

1.0% 0.9% -0.1%

LPCK – PT Lippo Cikarang announced its 2Q12 results:

LPCK (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

389 492 26.55%

254 238 -6.34%

Gross Profit

157 247 56.93%

122 124 1.64%

Operating Profit

123 205 66.75%

102 103 0.51%

Pretax Earnings

116 208 79.30%

103 106 3.02%

Net Income

98 185 87.45%

90 95 5.51%

EPS

141.5 265.3 87.45%

129.1 136.2 5.51%

Gross Profit Margin

40.5% 50.2% 9.7%

48.2% 52.3% 4.1%


31.6% 41.7% 10.1%

40.3% 43.2% 2.9%

Net Profit Margin

25.3% 37.5% 12.2%

35.4% 39.8% 4.5%

CPIN – PT Charoen Pokphand Indonesia announced its 2Q12 results:

CPIN (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

8,864 10,240 15.53%

4894 5346 9.24%

Gross Profit

1,913 2,678 39.97%

1251 1426 13.99%

Operating Profit

1587 2206 39.02%

1035 1171 13.08%

Pretax Earnings

1601 2165 35.17%

1021 1144 12.09%

Net Income

1252 1690 34.93%

784 906 15.57%

EPS

76.4 103.0 34.93%

47.8 55.2 15.57%

Gross Profit Margin

21.6% 26.2% 4.6%

25.6% 26.7% 1.1%


17.9% 21.5% 3.6%

21.2% 21.9% 0.7%

Net Profit Margin

14.1% 16.5% 2.4%

16.0% 16.9% 0.9%


MTLA - PT Metropolitan Land announced its 2Q12 results:

MTLA (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

246 316 28.62%

152 164 8.15%

Gross Profit

130 166 27.18%

80 86 7.37%

Operating Profit

85 96 12.60%

52 44 -14.99%

Pretax Earnings

77 99 27.80%

43 56 31.48%

Net Income

63 81 27.85%

43 38 -10.45%

EPS

8.3 10.7 27.85%

5.6 5.0 -10.45%

Gross Profit Margin

53.1% 52.5% -0.6%

52.7% 52.3% -0.4%


34.6% 30.3% -4.3%

34.1% 26.8% -7.3%

Net Profit Margin

25.7% 25.6% -0.2%

28.1% 23.2% -4.8%

ARII – PT Atlas Resources announced its 2Q12 results:

ARII (USD mio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

43 44 2.02%

18 26 41.15%

Gross Profit

11 10 -13.07%

4 6 41.96%

Operating Profit

5 2 -65.20%

0 2 1594.38%

Pretax Earnings

4 1 -81.38%

1 0 -139.19%

Net Income

3 1 -80.05%

1 -1 -148.03%

EPS

0.0010 0.0002 -80.05%

0.0004 -0.0002 -148.03%

Gross Profit Margin

25.8% 22.0% -3.8%

21.9% 22.0% 0.1%


10.7% 3.7% -7.1%

0.5% 5.9% 5.4%

Net Profit Margin

7.1% 1.4% -5.7%

6.5% -2.2% -8.7%

SCMA – PT Surya Citra Media announced its 2Q12 results:

SCMA (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

1,115 973 -12.71%

449 524 16.73%

Operating Profit

518 479 -7.50%

220 259 17.57%

Pretax Earnings

509 476 -6.42%

215 262 21.76%

Net Income

383 362 -5.32%

163 199 21.96%

EPS

196.2 185.8 -5.32%

83.7 102.1 21.96%


46.4% 49.2% 2.8%

49.0% 49.3% 0.4%

Net Profit Margin

34.3% 37.2% 2.9%

36.3% 38.0% 1.6%

LPPF – PT Matahari Department Store announced its 2Q12 results:

LPPF (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

1,864 2,226 19.44%

1034 1192 15.33%

Gross Profit

1,224 1,469 19.99%

671 798 18.99%

Operating Profit

374 510 36.13%

207 303 46.02%

Pretax Earnings

117 282 141.89%

96 186 94.56%

Net Income

18 157 764.52%

45 112 150.19%

EPS

6.2 54.0 764.52%

15.4 38.6 150.19%

Gross Profit Margin

65.7% 66.0% 0.3%

64.9% 66.9% 2.1%


20.1% 22.9% 2.8%

20.0% 25.4% 5.3%

Net Profit Margin

1.0% 7.1% 6.1%

4.3% 9.4% 5.1%


SSIA – PT Surya Semesta Internusa announced its 6m12 results:

SSIA (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

1,542 1,767 14.56%

883 884 0.09%

Gross Profit

401 636 58.75%

349 287 -17.76%

Operating Profit

241 464 92.36%

274 190 -30.61%

Pretax Earnings

213 443 107.67%

262 181 -30.97%

Net Income

133 372 180.56%

223 149 -33.01%

EPS

28.2 79.1 180.56%

47.3 31.7 -33.01%

Gross Profit Margin

26.0% 36.0% 10.0%

39.6% 32.5% -7.1%


15.7% 26.3% 10.6%

31.0% 21.5% -9.5%

Net Profit Margin

8.6% 21.1% 12.5%

25.2% 16.9% -8.3%

PWON – PT Pakuwon Jati announced its 2Q12 results:

PWON (IDR bio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

654 1,049 60.37%

494 555 12.45%

Gross Profit

323 606 87.65%

276 329 19.23%

Operating Profit

275 540 96.39%

239 302 26.27%

Pretax Earnings

239 439 83.49%

204 234 14.70%

Net Income

175 364 107.44%

170 193 13.31%

EPS

3.6 7.5 107.44%

3.5 4.0 13.31%

Gross Profit Margin

49.3% 57.7% 8.4%

55.9% 59.3% 3.4%


42.1% 51.5% 9.4%

48.4% 54.3% 5.9%

Net Profit Margin

26.8% 34.7% 7.9%

34.5% 34.8% 0.3%

TPIA – PT Chandra Asri Petrochemical announced its 2Q12 results:

TPIA (USD mio) 6m 2011 6m 2012 YoY Q1 2012 Q2 2012 QoQ

Revenue

1,141 1,162 1.77%

598 564 -5.60%

Gross Profit

83 8 -90.25%

18 -10

Operating Profit

53 -22

2 -24

Pretax Earnings

33 -56

-18 -38

Net Income

26 -45

-15 -30

EPS

0.009 -0.015

-0.005 -0.010

Gross Profit Margin

7.3% 0.7% -6.6%

3.0% -1.7%


4.6% -1.9%

0.4% -4.3%

Net Profit Margin

2.3% -3.9%

-2.5% -5.3%

Disclaimer

The analyst(s) whose work appears in this report certifies that his or her remuneration is not correlated to his or her judgment(s) on the performance of the company(ies).

The information and/or opinions contained in this report has been assembled by Panin Asset Management from sources which we deem to be reliable and in good faith, but no representation or warranty, express or implied, is made as to their accuracy, completeness or correctness. This report may not be reproduced, distributed or published by any recipient for any purpose. Any recommendations contained herein are based on a consideration of the securities alone, and as such are conditional and must not be relied upon as a solitary basis for investment decisions. Under no circumstances is this report to be used or considered as an offer to sell, or a solicitation of an offer buy.

All opinions and estimates herein reflect the author’s judgment on the date of this report and are subject to change without notice. Panin Asset Management, its related companies, their officers, employees, representatives and agents expressly advice that they shall not be liable in any way whatsoever for any loss or damage, whether direct, indirect, consequential or othe wise howsoever arising (whether in negligence or otherwise) out of or in connection with the contents of and/or any omi sions from this communication.

Any investments referred to herein may involve significant risk, are not necessarily available in all jurisdictions, may be illiquid and may not be suitable for all investors. Investors should make their own independent assessment and seek professional financial advice before they make their investment decisions.

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daily update july 31, 2012 - panin-am.co.id news 2012-0… · daily update july 31, 2012...

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