The original report included herein is in Indonesian language. Laporan Akuntan Independen Independent Accountants Report No. Laporan RPC-7636 Report No. RPC-7636 Pemegang Saham, Dewan Komisaris dan Direksi PT Asahimas Flat Glass Tbk The Shareholders, Boards of Commissioners and Directors PT Asahimas Flat Glass Tbk Kami telah melakukan review atas neraca PT Asahimas Flat Glass Tbk ( Perusahaan ) tanggal 30 Juni 2007 dan 2006, serta laporan laba rugi, laporan perubahan ekuitas, dan laporan arus kas untuk periode enam bulan yang berakhir pada tanggal-tanggal tersebut. Laporan keuangan tersebut merupakan tanggung jawab manajemen Perusahaan. Kami melaksanakan review berdasarkan standar yang ditetapkan Ikatan Akuntan Indonesia. Review atas informasi keuangan interim terutama meliputi penerapan prosedur analitik terhadap data keuangan dan meminta keterangan kepada orang yang bertanggung jawab atas berbagai hal yang berkaitan dengan akuntansi dan keuangan. Lingkup review ini sangat sempit bila dibandingkan dengan lingkup audit berdasarkan standar auditing yang bertujuan untuk memberikan pendapat atas laporan keuangan secara keseluruhan. Oleh karena itu, kami tidak memberikan pendapat seperti itu. Berdasarkan review kami, kami tidak menemukan indikasi perlunya modifikasi material terhadap laporan keuangan yang kami sebutkan di atas agar sesuai dengan prinsip akuntansi yang berlaku umum di Indonesia. We have reviewed the accompanying balance sheets of PT Asahimas Flat Glass Tbk ( the Company ) as of June 30, 2007 and 2006, and the related statements of income, changes in shareholders equity, and cash flows for the six-month periods then ended. These financial statements are the responsibility of the Company s management. We conducted our reviews in accordance with standards established by the Indonesian Institute of Accountants. A review of interim financial information consists principally of applying analytical procedures to financial data and making inquiries of the Company personnel responsible for financial and accounting matters. It is substantially less in scope than an audit in accordance with auditing standards, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion. Based on our reviews, we are not aware of any material modifications that should be made to the accompanying financial statements referred to above in order for them to be in conformity with generally accepted accounting principles in Indonesia. Purwantono, Sarwoko & Sandjaja Drs. Iman Sarwoko Izin Akuntan Publik No./Public Accountant License No. 98.1.0359 25 Juli 2007/July 25, 2007 The accompanying financial statements are not intended to present the financial position, results of operations and cash flows in accordance with accounting principles and practices generally accepted in countries and jurisdictions other than Indonesia. The standards, procedures and practices to review such financial statements are those generally accepted and applied in Indonesia.
NERACA (Tidak diaudit) BALANCE SHEETS (Unaudited) 30 Juni 2007 dan 2006 June 30, 2007 and 2006 AKTIVA ASSETS AKTIVA LANCAR CURRENT ASSETS Kas dan setara kas 62.812.690 2f,3 37.576.187 Cash and cash equivalents Piutang usaha: Pihak yang mempunyai hubungan Trade receivables: istimewa 94.231.114 4,24a 101.739.678 Related parties Pihak ketiga 77.320.624 2g,4 56.380.699 Third parties Piutang lain-lain 12.619.215 16.509.545 Other receivables Persediaan 405.628.139 2h,5 478.030.188 Inventories Uang muka impor dan lainnya 15.335.794 5.688.112 Advances for imports and others Pajak dibayar di muka 73.723.075 2n,6a 55.912.703 Prepaid taxes Biaya dibayar di muka 8.652.282 8.813.185 Prepaid expenses JUMLAH AKTIVA LANCAR 750.322.933 760.650.297 TOTAL CURRENT ASSETS AKTIVA TIDAK LANCAR NON-CURRENT ASSETS Aktiva pajak tangguhan 280.715 2n,6e - Deferred tax assets Investasi pada perusahaan asosiasi 5.819.532 2i,7,24b 6.855.395 Investment in associated companies Investasi jangka panjang lainnya 2.735.277 2i,8 2.411.295 Other long-term investments Aktiva tetap - setelah dikurangi akumulasi penyusutan Fixed assets - net of accumulated Rp1.281.141.185 depreciation of Rp1,281,141,185 (2006: Rp1.148.906.518) 855.935.071 2j,9 846.737.604 (2006: Rp1,148,906,518) Aktiva lain-lain - setelah dikurangi Other assets - net of accumulated akumulasi amortisasi Rp7.302.304 amortization of Rp7,302,304 (2006: Rp5.786.492) 5.757.732 2k,10 7.469.391 (2006: Rp5,786,492) JUMLAH AKTIVA TIDAK LANCAR 870.528.327 863.473.685 TOTAL NON-CURRENT ASSETS JUMLAH AKTIVA 1.620.851.260 1.624.123.982 TOTAL ASSETS Catatan atas laporan keuangan terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan secara keseluruhan. The accompanying notes to the financial statements form an integral part of these financial statements. 2
NERACA (Tidak diaudit) (lanjutan) BALANCE SHEETS (Unaudited) (continued) 30 Juni 2007 dan 2006 June 30, 2007 and 2006 KEWAJIBAN DAN EKUITAS LIABILITIES AND SHAREHOLDERS' EQUITY KEWAJIBAN LANCAR CURRENT LIABILITIES Pinjaman bank jangka pendek 135.810.000 11 167.400.000 Short-term bank borrowings Hutang usaha: Pihak yang mempunyai hubungan Trade payables: istimewa 10.104.669 12,24c 26.469.399 Related parties Pihak ketiga 49.541.089 12 28.546.232 Third parties Hutang lain-lain 21.241.348 14.808.512 Other payables Hutang pajak 33.106.743 2n,6b 12.930.902 Taxes payable Uang muka diterima 5.190.890 3.989.060 Advances received Biaya masih harus dibayar 19.106.139 17.933.219 Accrued expenses Uang jaminan pallet 3.363.702 3.590.026 Guarantee deposits for pallets JUMLAH KEWAJIBAN LANCAR 277.464.580 275.667.350 TOTAL CURRENT LIABILITIES KEWAJIBAN JANGKA PANJANG LONG-TERM LIABILITIES Hutang lain-lain pada pihak yang mempunyai hubungan istimewa 8.041.482 24d 43.076.858 Other related party payables Kewajiban pajak tangguhan - 2n,6e 8.935.425 Deferred tax liabilities Kewajiban imbalan kerja 125.006.971 2m,13 118.200.635 Employee benefits liability JUMLAH KEWAJIBAN JANGKA PANJANG 133.048.453 170.212.918 TOTAL LONG-TERM LIABILITIES JUMLAH KEWAJIBAN 410.513.033 445.880.268 TOTAL LIABILITIES EKUITAS SHAREHOLDERS' EQUITY Modal saham Share capital Nilai nominal Rp500 (angka penuh) Nominal value Rp500 (full amount) per saham. Modal dasar 600.000.000 per share. Authorized capital saham. Modal ditempatkan dan 600,000,000 shares. Issued and disetor penuh 434.000.000 saham 217.000.000 14 217.000.000 fully paid up 434,000,000 shares Tambahan modal disetor - bersih 165.082.799 15 165.082.799 Additional paid-in capital - net Selisih kurs penjabaran laporan Exchange rate differences due to keuangan 7.226.090 2d,7 8.117.957 financial statement translation Saldo laba yang telah ditentukan Appropriated retained penggunaannya 54.250.000 23 54.250.000 earnings Saldo laba yang belum ditentukan Unappropriated retained penggunaannya 766.779.338 733.792.958 earnings JUMLAH EKUITAS 1.210.338.227 1.178.243.714 TOTAL SHAREHOLDERS' EQUITY JUMLAH KEWAJIBAN DAN TOTAL LIABILITIES AND EKUITAS 1.620.851.260 1.624.123.982 SHAREHOLDERS EQUITY Catatan atas laporan keuangan terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan secara keseluruhan. The accompanying notes to the financial statements form an integral part of these financial statements. 3
LAPORAN LABA RUGI (Tidak diaudit) STATEMENTS OF INCOME (Unaudited) PENJUALAN BERSIH 909.937.471 2e,16, 740.787.793 NET SALES 24e BEBAN POKOK PENJUALAN 665.073.782 17,24f 593.359.006 COST OF GOODS SOLD LABA KOTOR 244.863.689 147.428.787 GROSS PROFIT BEBAN USAHA OPERATING EXPENSES Penjualan 81.844.258 18,24g 75.935.017 Selling Umum dan administrasi 51.744.142 19 50.949.001 General and administrative Jumlah beban usaha 133.588.400 126.884.018 Total operating expenses LABA USAHA 111.275.289 20.544.769 OPERATING PROFIT PENGHASILAN/(BEBAN) LAIN-LAIN OTHER INCOME/(EXPENSES) Beban bunga (5.988.022) (3.486.218) Interest expense Pendapatan bunga 555.329 315.269 Interest income Laba/(rugi) selisih kurs - bersih 669.810 (923.418) Gain/(loss)on foreign exchange - net Laba atas penjualan aktiva tetap 235.378 9b 246.698 Gain on sale of fixed assets Beban tetap selama cold repair (16.956.791) 20 - Fixed expenses during cold repair Lainnya - bersih 3.379.223 652.659 Others - net Beban lain-lain - bersih (18.105.073) (3.195.010) Other expenses - net BAGIAN LABA DARI PERUSAHAAN SHARE IN PROFIT FROM ASOSIASI - 2i,7 2.141.642 ASSOCIATED COMPANIES LABA SEBELUM PAJAK PROFIT BEFORE CORPORATE PENGHASILAN BADAN 93.170.216 19.491.401 INCOME TAX PAJAK PENGHASILAN BADAN CORPORATE INCOME TAX Pajak kini (35.285.674) 2n,6c,6d (13.365.828) Current tax Pajak tangguhan 5.111.234 2n,6c,6e 6.664.255 Deferred tax (30.174.440) (6.701.573) LABA BERSIH 62.995.776 12.789.828 NET PROFIT Laba bersih per saham dasar Basic earnings per share (dalam rupiah penuh) 145 2o,21 29 (in full rupiah) Catatan atas laporan keuangan terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan secara keseluruhan. The accompanying notes to the financial statements form an integral part of these financial statements. 4
LAPORAN PERUBAHAN EKUITAS (Tidak diaudit) STATEMENTS OF CHANGES IN SHAREHOLDERS EQUITY (Unaudited) tanggal-tanggal 30 Juni 2007 dan 2006 June 30, 2007 and 2006 Selisih kurs penjabaran laporan keuangan/ Tambahan Exchange rate Saldo laba/retained earnings modal disetor - differences Telah Belum Jumlah bersih/ due to financial ditentukan ditentukan ekuitas/total Modal saham/ Additional paid- statement penggunaannya/ penggunaannya/ shareholders Notes Share capital in capital - net translation Appropriated Unappropriated equity Saldo per 31 Desember 2005 217.000.000 165.082.799 8.756.223 50.000.000 759.973.130 1.200.812.152 Balance as of December 31, 2005 Selisih kurs penjabaran Exchange rate differences due to laporan keuangan 2d,7 - - (638.266) - - (638.266) financial statement translation Laba bersih untuk periode Net profit for the six-month enam bulan - - - - 12.789.828 12.789.828 period Pembagian dividen 22 - - - - (34.720.000) (34.720.000) Dividends declared Cadangan umum 23 - - - 4.250.000 (4.250.000) - General reserve Saldo per 30 Juni 2006 217.000.000 165.082.799 8.117.957 54.250.000 733.792.958 1.178.243.714 Balance as of June 30, 2006 Selisih kurs penjabaran Exchange rate differences due to laporan keuangan - - (181.563) - - (181.563) financial statement translation Rugi bersih untuk periode Net loss for the six-month enam bulan - - - - (30.009.396) (30.009.396) period Saldo per 31 Desember 2006 217.000.000 165.082.799 7.936.394 54.250.000 703.783.562 1.148.052.755 Balance as of December 31, 2006 Pelepasan investasi pada Disposal of investment in associated perusahaan asosiasi 7 - - (710.304) - - (710.304) companies Laba bersih untuk periode Net profit for the six-month enam bulan - - - - 62.995.776 62.995.776 period Saldo per 30 Juni 2007 217.000.000 165.082.799 7.226.090 54.250.000 766.779.338 1.210.338.227 Balance as of June 30, 2007 Catatan atas laporan keuangan terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan secara keseluruhan. The accompanying notes to the financial statements form an integral part of these financial statements. 4
CATATAN ATAS LAPORAN KEUANGAN (Tidak diaudit) NOTES TO THE FINANCIAL STATEMENTS (Unaudited) LAPORAN ARUS KAS (Tidak diaudit) STATEMENTS OF CASH FLOWS (Unaudited) ARUS KAS DARI AKTIVITAS CASH FLOWS FROM OPERATING OPERASI ACTIVITIES Penerimaan dari pelanggan 914.535.487 750.105.030 Receipts from customers Pembayaran kepada pemasok (476.761.830) (410.331.280) Payments to suppliers Pembayaran kepada karyawan (113.947.789) (113.869.370) Payments to employees Pembayaran untuk beban usaha (134.844.094) (167.409.950) Payments for operating expenses Pembayaran untuk imbalan kerja (9.070.082) 13 (6.411.866) Payments for employee benefits Kas dihasilkan dari operasi 179.911.692 52.082.564 Cash generated from operations Pembayaran pajak penghasilan badan (9.242.917) (55.701.821) Corporate income taxes paid Penerimaan bunga 558.457 312.140 Interest received Pembayaran bunga (6.116.379) (3.450.030) Interest paid Kas bersih diperoleh dari/(digunakan Net cash provided by/(used in) untuk) aktivitas operasi 165.110.853 (6.757.147) operating activities ARUS KAS DARI AKTIVITAS CASH FLOWS FROM INVESTING INVESTASI ACTIVITIES Penerimaan dividen - 7 5.196.555 Dividends received Penambahan investasi (314.650) - Additional investments Hasil pelepasan investasi 1.182.769 7 - Proceeds from disposal of investments Pembelian aktiva tetap (78.148.735) 9a (70.894.337) Purchase of fixed assets Hasil penjualan aktiva tetap 1.006.183 9b 267.814 Proceeds from sale of fixed assets Penerimaan/(penambahan) piutang Collection from/(additions to) jangka panjang 122.258 (188.197) long-term receivables Penambahan uang jaminan dan Additions to guarantee deposits lain-lain (200) (1.402.178) and others Kas bersih digunakan untuk Net cash used in investing aktivitas investasi (76.152.375) (67.020.343) activities ARUS KAS DARI AKTIVITAS CASH FLOWS FROM FINANCING PENDANAAN ACTIVITIES Hasil dari pinjaman bank jangka Proceeds from short-term bank pendek 122.276.750 360.964.500 borrowings Pembayaran pinjaman bank jangka Repayment of short-term bank pendek (213.201.300) (270.322.000) borrowings Pembayaran angsuran pinjaman Repayment of long-term bank bank jangka panjang - (39.507.700) borrowings Kas bersih diperoleh dari/(digunakan Net cash provided by/(used in) untuk) aktivitas pendanaan (90.924.550) 51.134.800 financing activities / 5
CATATAN ATAS LAPORAN KEUANGAN (Tidak diaudit) NOTES TO THE FINANCIAL STATEMENTS (Unaudited) LAPORAN ARUS KAS (Tidak diaudit) (lanjutan) STATEMENTS OF CASH FLOWS (Unaudited) (continued) PENURUNAN BERSIH KAS DAN NET DECREASE IN CASH AND SETARA KAS (1.966.072) (22.642.690) CASH EQUIVALENTS Pengaruh nilai tukar atas kas dan Effect of exchange rate on cash setara kas 543.676 (986.840) and cash equivalents Kas dan setara kas pada Cash and cash equivalents at awal periode 64.235.086 61.205.717 beginning of period KAS DAN SETARA KAS PADA CASH AND CASH EQUIVALENTS AKHIR PERIODE 62.812.690 3 37.576.187 AT END OF PERIOD Informasi tambahan arus kas: Supplemental cash flow information: Selisih kurs penjabaran laporan Exchange rate differences due to keuangan - 2d,7 (638.266) financial statement translation / 6