d9eb5668cc_62637cf5bc

ADHI PRESENTATION
RHB OSK CONFERENCE
Jakarta, 7 May 2014

MILESTONE ADHI
1960 1974 2004 July 2011
PN Adhi Karya nationalized
Dutch Company Associatie
N.V.
PT Adhi Karya
(Persero)
PN Adhi Karya
changed to PT Adhi
Karya (Persero)
• Go Public 18
March 2004
• ADHI, first SOE
Construction Listed
in Indonesia Stock
Exchange
TRANSFORMASI ADHI :
• Change Vision & Mission
• Ratify RJPP 2012-2106, 5 Line of Business
[CONSTRUCTION, EPC, PROPERTY, REAL ESTATE, INVESTMENT
INFRASTRUCTURE]
• Organization Restructure
• Establishment of ADHI Learning Center
• Company Value:
• Bekerja Cerdas
• Berintegritas Corporate Culture
• Bersahaja
Base philosophy Corporate Culture:
Bekerja adalah Ibadah
2014 2013
2012
Establishment APG & APB
MoU Monorel
(JLT, ACT, AMPS)
Grandhika
Blok M Hotel
Precast Factory
Property and Real
Estate Development
Establishment
APP & APR

LINE OF BUSINESS
CONSTRUCTION
Building
Airport
Seaport
Road & Toll Road
Bridge
Water Resources
Railway
EPC
Power Plant
Industry
Oil & Gas
PROPERTY
Apartment
Offices
Condotel
Hotel
REAL ESTATE
Housing
Mall
Store
INVESTMENT
Manufacture
Precast Concrete
Transportation
Independent
Power Producer
APG
EPC Division
APP
APR
APB
Construction Division
1 -6
Hotel Division
PMU IPP*
PMU Transportation*

AWARDS
2009
2010
2010
2011
2011
2011-2012
GCG AWARD
Best Disclosure &
Transparency
Fortune 100
100 Largest
Company in
Indonesia
BUMN Award
Best GCG
CGPI
As Trusted
Company
(Corporate
Governance
Perception Index)
Best of THE BEST
Awards
The ‘A’ List
40 Top Performing
Small & Midsized
Company
Indonesia
Biodiversity
Foundation
(KEHATI)
2011-2013
2012
2012
2013
2013
2013
IMAC
(Indonesia’s
Most Admired
Companies)
The Banker’s
Choice Award
for Leading
Corporation in
Indonesia
Indonesia
Construction
Award from
LPJKN &
Ministry of
Public Works
Asia’s Best
Companies
Rank 1
Small-Medium
Cap
Achievement
Award for
“BUMN Peduli”
from SOE
Ministry
Superbrands
Award

SHARES OWNERSHIP
OUTSTANDING SHARES 1.801.320.000
GOVERNMENT 918.680.000
PUBLIC 882.640.000
FY2013
1Q14
51%
38%
51%
35%
11%
14%
Government
Foreign
Local

ADHI SHARES 1Q14
6000
5000
4.327
IDX
Growth Since 1 Jan 2014
10%
4.768
4000
2.995
3000
1.540
2000
1000
ADHI
Growth Since 1 Jan 2014
94%
0
02-01-14 09-01-14 16-01-14 23-01-14 30-01-14 06-02-14 13-02-14 20-02-14 27-02-14 06-03-14 13-03-14 20-03-14 27-03-14

ADHI INCOME STATEMENT
(in million IDR) 2013 % 2012 % %G 1Q14 % 1Q13 % %G
Revenue 9.799.598 100,0% 7.627.703 100,0% 28,5% 1.439.602 100,0% 1.360.349 100,0% 5,8%
Cost of Contract (8.606.444) -87,8% (6.671.815) -87,5% 29,0% (1.308.208) -90,9% (1.252.488) -92,1% 4,4%
Gross Profit 1.193.155 12,2% 955.888 12,5% 24,8% 131.394 9,1% 107.860 7,9% 21,8%
Profit (Loss) JO 54.557 0,6% 87.331 1,1% -37,5% 1.020 0,1% 26.322 1,9% -96,1%
Gross Profit after JO 1.247.711 12,7% 1.043.220 13,7% 19,6% 132.415 9,2% 134.182 9,9% -1,3%
Operating Expense (328.961) -3,4% (250.824) -3,3% 31,2% (62.865) -4,4% (50.443) -3,7% 24,6%
Operating Profit 918.751 9,4% 792.396 10,4% 15,9% 69.550 4,8% 83.739 6,2% -16,9%
Other Income (Expense) (96.467) -1,0% (282.857) -3,7% -65,9% 16.028 1,1% (20.051) -1,5% -179,9%
E B I T 822.283 8,4% 509.540 6,7% 61,4% 85.578 5,9% 63.688 4,7% 34,4%
Interest Expense (107.919) -1,1% (86.224) -1,1% 25,2% (24.300) -1,7% (13.824) -1,0% 75,8%
E B T 714.365 7,3% 423.315 5,5% 68,8% 61.279 4,3% 49.864 3,7% 22,9%
Tax (305.927) -3,1% (209.998) -2,8% 45,7% (44.649) -3,1% (38.212) -2,8% 16,8%
E A T 408.438 4,2% 213.318 2,8% 91,5% 16.630 1,2% 11.652 0,9% 42,7%
Min. Int. in Subs. (2.461) 0,0% (1.727) 0,0% 42,5% (393) 0,0% (127) 0,0% 210,2%
Net Income 405.977 4,1% 211.590 2,8% 91,9% 16.236 1,1% 11.525 0,8% 40,9%

ADHI BALANCE SHEET
(in million IDR) 2013 % 2012 % %G 1Q14 % 1Q13 % %G
Cash & Bank 1.939.960 20,0% 948.846 12,1% 104,5% 778.779 8,3% 1.113.576 13,5% -30,1%
Receivables 4.736.454 48,7% 4.563.922 58,0% 3,8% 4.837.702 51,8% 4.592.687 55,6% 5,3%
Inventory 1.057.844 10,9% 522.339 6,6% 102,5% 1.173.145 12,6% 560.697 6,8% 109,2%
Advance Payment 226.061 2,3% 267.826 3,4% -15,6% 209.711 2,2% 272.936 3,3% -23,2%
Other Current Assets 1.139.148 11,7% 980.165 12,5% 16,2% 1.670.300 17,9% 1.117.470 13,5% 49,5%
Current Asset 9.099.467 93,6% 7.283.097 92,5% 24,9% 8.669.637 92,9% 7.657.366 92,7% 13,2%
Fixed Asset - Net 271.257 2,8% 187.437 2,4% 44,7% 291.763 3,1% 194.511 2,4% 50,0%
Other Non Current Asset 350.238 3,6% 401.539 5,1% -12,8% 373.185 4,0% 410.128 5,0% -9,0%
TOTAL ASSETS 9.720.962 100,0% 7.872.074 100,0% 23,5% 9.334.585 100,0% 8.262.004 100,0% 13,0%
Account Payables 4.767.420 49,0% 4.276.690 54,3% 11,5% 4.378.615 46,9% 3.836.466 46,4% 14,1%
Contract Advances 705.176 7,3% 691.557 8,8% 2,0% 683.369 7,3% 625.692 7,6% 9,2%
Bank Loans & Bonds 1.708.776 17,6% 948.658 12,1% 80,1% 1.596.093 17,1% 1.622.259 19,6% -1,6%
Other Liabilities 991.127 10,2% 774.249 9,8% 28,0% 1.233.768 13,2% 985.000 11,9% 25,3%
TOTAL LIABILITIES 8.172.499 84,1% 6.691.155 85,0% 22,1% 7.891.845 84,5% 7.069.417 85,6% 11,6%
Min. Int. in Subs. 9.234 0,1% 6.773 0,1% 36,3% 9.627 0,1% 6.900 0,1% 39,5%
EQUITY 1.539.229 15,8% 1.174.146 14,9% 31,1% 1.433.113 15,4% 1.185.688 14,4% 20,9%
TOTAL LIAB. & EQUITY 9.720.962 100,0% 7.872.074 100,0% 23,5% 9.334.585 100,0% 8.262.004 100,0% 13,0%

CASH FLOW
(in million IDR)
Cash Flow From Operating Activities
Total Cash Receipts
Total Cash Payments
Total
Cash Flow From Investment Activities
Cash Flow From Financing Activities
Net Financing
Dividend Payment
Total
Net Increase of Cash and Cash Equivalents
Cash And Cash Equivalents At Beginning Of Period
Cash And Cash Equivalents At End Of Period
1Q14
1Q13
1.535.467
1.528.580
(2.460.237)
(2.041.808)
(924.769) (513.228)
(124.785) 5.332
(111.627) 672.625
0 0
(111.627) 672.625
(1.161.181) 164.730
1.939.960 948.846
778.779 1.113.576

FINANCIAL RATIO
RATIO
DER ( x ) < 2,75
EBITDA / Interest ( TIE ) > 2,50
Current Ratio > 1,00
ROE (Return On Equity)
ROI (Return On Investment)
Cash Ratio
Collection Period (Receivables)
Inventory Turnover
TATO (Total Asset Turnover)
Equity Ratio
ROA (Return On Assets)
Collection Periods (Tot.Receivables)
Payment Periods
2013 2012 1Q14 1Q13
1,2 7,3 1,3 34,8 8,5 29,6 56,0 27,0 101,4 11,9 7,3 175,0 0,8
6,0
1,2
21,7
6,5
16,2
64,0
25,0
96,9
12,3
5,4
218,0 1,1 2,8 1,4 1,1 1,0 12,3 58,2 43,3 105,8 15,3 0,7 178,7 1,4
4,8
1,4
0,2
0,7
20,6
50,3
24,1
102,6
14,4
0,6
197,8
167,0 225,0 177,5 186,5

CONTRACT BREAKDOWN 2013
90.2%
Line of
Business
Million IDR
% Contribution
CONSTRUCTION 9.789.278 90.2%
EPC 13.541 0.1%
PROPERTY 716.395 6.6%
REAL ESTATE 232.653 2.1%
0.9%
2.1%
6.6%
0.1%
PRECAST 101.871 0.9%
TOTAL 10.853.737 100.0%
CONSTRUCTION EPC PROPERTY REAL ESTATE PRECAST

REVENUE BREAKDOWN 2013
73.1%
Line of
Business
Million IDR
% Contribution
CONSTRUCTION 7.167.558 73,1%
EPC 1.891.112 19,3%
PROPERTY 507.795 5,2%
19.3%
REALT ESTATE 197.688 2,0%
PRECAST 35.445 0,4%
0.4%
2.0%
5.2%
TOTAL 9.799.598 100,0%
CONSTRUCTION EPC PROPERTY REAL ESTATE PRECAST

REVENUE & NET INCOME
2008-2013
in million IDR
16,000,000
14,000,000
Revenue
Net Income
CAGR Net Income
2008-2013
38%
14,717,873
1,000,000
900,000
12,000,000
10,000,000
8,000,000
6,000,000
4,000,000
2,000,000
0
9,799,598
7,714,614
7,627,703
6,639,942
6,695,112
570,600
5,674,980
405,977
165,529
189,484 182,116
211,590
81,482
2008 2009 2010 2011 2012 2013 2014RKAP
800,000
700,000
600,000
500,000
400,000
300,000
200,000
100,000
0

ORDER BOOK
Total Order
Book Target
29,874
Total Order
Book
20,071
New
Contract
21,129
Carry Over
to 2015
14,271
New
Contract
10,854
Carry Over
to 2014
8,745
JO : 885
Carry Over
From 2012
9,217
JO: 1,527
Revenue
NJO
9,799
Carry Over
From 2013
8,745
Revenue
NJO
14,718
2013
2014R

CONTRACT BY TYPE OF BUSINESS
2011
2012
18%
27%
26%
36%
APBN
APBD
BUMN/D
Private/Others
7%
48%
33%
5%
2010
2013
2014 RKAP
23%
34%
21%
21%
21%
48%
9%
10%
29%
14%
22%
48%

CONTRACT BY LINE OF BUSINESS
Construction EPC Property Realty Investment
2012
3% 1%
3%
1%
2013
7% 2% 2%
0%
92%
89%
2% 2%
0%
32%
24%
Total Contract Target:
21.1 Trillion IDR
2011
64%
4%
6%
12%
2014 RKAP
54%

PROPERTY BUSINESS
Grand Taman Melati
Margonda
Grand Dhika City Bekasi
Taman
Melati
Jatinangor
Grand DhikaSunset Kuta -
Bali
The Jasmine Park
Pasteur, Bandung
Grand Dhika Mansion
Pejaten

PROPERTY BUSINESS
Taman Melati Sardjito
Yogyakarta
Taman Melati Sinduadi
Yogyakarta
Taman Melati Dinoyo
Malang
Taman Melati Mulyorejo
Grand Dhika Jatiwarna

REAL ESTATE BUSINESS
Mall Cimone City
Mall Mandau City
Taman Dhika Sidoarjo
Taman Dhika Cipayung

PRECAST BUSINESS
Factory 1: Sadang
Factory 2: Mojokerto

PT Adhi Karya (Persero) Tbk.
THANK YOU
Visit us at www.adhi.co.id
For further information please contact:
M. Aprindy, Corporate Secretary
Ki Syahgolang Permata, Investor Relations
P. +62 21 797 5312 F. +62 21 797 5311 E. adhi@adhi.co.id
Disclaimer:
Important Notice
• This document was prepared solely and exclusively for the parties presently being invited for the purpose of discussion. Neither this document nor
any of its content may be reproduced, disclosed or used without the prior written consent of PT Adhi Karya (Persero) Tbk.
• This document may contain statements that convey future oriented expectations which represent the Company’s present views on the probable
future events and financial plans. Such views are presented on the basis of current assumptions, are exposed to various risks and are subject to
considerable changes at any time. Presented assumptions are presumed correct, and based on the data available on the date, which this
document is assembled. The company warrants no assurance that such outlook will, in part of as a whole, eventually be materialized. Actual
results may diverge significantly from those projected. The information in this document is subject to change without notice, its accuracy is not
verified or guaranteed, it may be incomplete or condensed and it may not contain all material information concerning the Company.
• None of the Company, PT Adhi Karya (Persero) Tbk. or any person connected with any of them accepts any liability whatsoever for any loss
howsoever arising from any use of this document or its contents or otherwise arising in connection therewith.