Source: Humas BNBR | 31 Mar 2013

The management of PT Bakrie & Brothers Tbk (“BNBR” or “Company”) remains optimistic that in 2013 it will be able to record better performance. The Company’s 2012 consolidated financial statements show good and prospective financial indicators.

The company successfully recorded revenue of IDR 15.48 trillion, and successfully made a net profit of IDR 354.87 billion and profit attributable to owners of the parent entity amounted to IDR 127.77 billion. And, most importantly, throughout 2012 the Company managed to convincingly reduce its debt burden by 40 percent.

“Many positive records were successfully recorded by the Company over the past year, specifically related to debt and portfolio management. This is thanks to the hard work of management and the entire BNBR workforce, “said Bobby Gafur Umar, President Director & CEO of BNBR in his press statement in Jakarta, Sunday (31/3).

Bobby explained, with good performance throughout 2012, the Company remained optimistic that it would be able to improve its financial capabilities. Some key indicators in the 2012 BNBR financial report show that the Company does have a great opportunity and ability to improve performance.

“Our net profit shows an increase. The amount of BNBR revenue is also quite significant. And it’s important to note, in 2012 we managed to reduce the debt burden in a very significant amount, “said Bobby.

In 2011, BNBR still recorded a debt of Rp10.71 trillion. Last year, the Company’s debt was reduced very significantly by IDR4.27 trillion to only IDR6.44 trillion. At the same time, interest expense was also reduced from the previous Rp2.0 trillion in 2011 to Rp1.19 trillion in 2012. “The reduction in debt and interest expense has eased the Company’s financial burden throughout 2012,” said BNBR Finance Director Eddy Soeparno.

Business Unit Performance

Bobby also explained, BNBR’s business units in the last few years also showed better performance, so they were able to make a more significant contribution to the Company’s revenue. In 2012, the Company’s business units accounted for 66 percent of BNBR’s total revenue, with a value of IDR 10.11 trillion.

PT Bakrie Building Industries (BBI) and PT Bakrie Tosanjaya (BTJ), Bobby said, are two of the Company’s business units that have very good prospects for continued development. “The building materials industry has very good prospects, along with the growth of the property and construction industry. Also supported by a very large population and increasing consumer purchasing power, we are very optimistic, the building material industry in the country will continue moving forward, “Bobby said.

The company, which produced various types of building materials at its factory in the West Jakarta area, in 2012 managed to obtain a net profit of Rp39.2 billion, an increase of 62 percent compared to the previous year’s profit. “In 2012, PT BBI’s sales value grew 45 percent to reach Rp651 billion. In 2013, the target is Rp 873 billion. This is a very realistic target, given the various initiatives that are being carried out to encourage the growth of PT BBI’s business, “Bobby said.

PT Bakrie Tosanjaya (BTJ), the Company’s business unit that produces automotive components, also has very bright prospects for growth in line with the growth of the national automotive industry. “We are seriously spurring the business growth of the automotive component manufacturing division into PT BTJ’s main business field,” Bobby said.

In the context of such development, according to Bobby, the Company recently completed the acquisition process of assets related to automotive components owned by a subsidiary of a large business group from South Korea operating in Indonesia. “Yes, it’s final, with financial support from national banks,” he said.

PT BTJ has been listed as a manufacturer and supplier of components for several commercial car brands. “BTJ has been one of the main suppliers of components for commercial vehicles such as Mitsubishi, Hino, Daihatsu and Toyota. Bakrie Tosanjaya’s performance is very good, with EBITDA growth of around 60 percent compared to 2011. This is also supported by the commercial car market which on average grows 24 percent to 26 percent per year, “said BNBR Chief Investor Relations, Indra Ginting added.

For further information, please contact:
Media Relations
Bayu Nimpuno
Head of Corporate Communications
bayu.nimpuno@bakrie.co.id

Investor Relations
Indra Ginting
Chief Investor Relations Officer
indra.ginting@bakrie.co.id
www.bakrie-brothers.com