PT Ades Waters Indonesia Tbk.

(d/h PT Ades Alfindo Putrasetia Tbk)

Head Office

Branch Office

Factories

Business
Company Status

Perkantoran Hijau Arkadia Tower C

15th Floor
Jl. TB. Simatupang Kav. 88
Jakarta 12520
Phone (021) 2754-5000
Fax (021) 7884-5549
Wisma GKBI 35th Floor Suite 3501
Jl. Jenderal Sudirman No. 28
Jakarta 10210
Phone (021) 574-0633
Fax (021) 639-3427
- Tapos Km. 1, Desa Kranji, Bogor
Jawa Barat
Phone (021) 875-3054, 875-3055
Fax (021) 875-2970
- Jl. Raya Pudak Payung No. 1
Semarang Selatan, Jawa Tengah
Phone (024) 475-062, 475-068,
475-054, Fax (024) 475-074
- Desa Namo Riam,
Kecamatan Pancur Batu
Kabupaten Deli Serdang
Sumatera Utara
Beverages (Bottled Mineral Water)
PMDN

PT. Ades Waters Indonesia Tbk

The company suffered net loss Rp 148.3 billion
in 2004, significance downturn when compared to last year performance
when booked net profit at Rp 3.5 billion. Net sales were down from Rp 168
billion to Rp 125 billion.
The company supplied bottled water in plastic glass, plastic bottles and glass bottles. Production capacity in 1993 was 2.9 million
liters per year. Operations are supported by two bottling plants: one in
Cibinong, West Java, and the other in Deli Serdang, North Sumatra. The
companys bottled water has been exported to Singapore and Australia. In
November 1993, the company took over full ownership of PT Pamargha
Indojatim, which operates in the same line of business. And on October
1996, buoyed by strong prospects in the bottled water industry, the company is building a new water plant in Ujungpandang. The water source
located in Maros, South Sulawesi will supply this plant which will have a 40
million liter capacity a year. Cost of the project has been pegged at Rp 3
billion. Construction is slated to finish in the 2nd semester of 1996 and
commercial operations should commence in mid 1997. In October 2000,
the company sold its Ades, Desta, Vica, and Desca brands to Coca Cola as
part of its debt restructuring process.

Food and Beverages

Summary of Financial Statement
(million rupiah)
2002
2003
2004

PT Ades Waters Indonesia Tbk.

(d/h PT Ades Alfindo Putrasetia Tbk)

Food and Beverages

Board of Commissioners

Board of Directors

President Commissioner Samip Tarachand Shah

Commissioners Emil Salim, Alfi Gunawan

President Director Etienne Andre Maria Benet

Directors Antonio Del Rosario, Patrick Lemoine,
Amrit Kumar Shrestha, Agustinus Gunadharma,
Gilles Duc

Total Assets
Current Assets
of which
Cash on hand and in banks
Trade receivables
Inventories
Non-Current Assets
of which
Fixed Assets-Net
Deffered Tax Assets

206,917
34,043

192,043
29,622

102,977
25,616

7,821
16,077
9,193
172,874

4,219
14,623
9,981
162,421

2,061
11,497
7,775
77,361

171,115
n.a

160,621
258

75,701
258

Liabilities
Current Liabilities
of which
Bank borrowings
Trade payable
Taxes payable
Non-Current Liabilities
Minority Interests in Subsidiaries

120,038
61,404

101,799
80,981

85,500
60,682

44,700
9,201
3,421
58,635
1

31,744
6,218
1,440
20,818
1

20,244
15,035
1,253
24,818
1

Shareholders' Equity
86,877
Paid-up capital
76,000
Paid-up capital
in excess of par value
4,750
Retained earnings (accumulated loss) 6,127

90,244
76,000

17,476
149,720

Underwriter

4,750
9,494

6,593
(138,837)

Stock Price, Frequency, Trading Days, Number and Value of Shares Traded and Market Capitalization

168,936
106,899
62,037
82,037
(20,000)
4,716
(15,283)
3,519

125,554
106,580
18,974
88,831
(69,857)
(78,475)
(148,332)
(148,331)

Month

97
1,143
2
725

46
1,187
n.a
1,025

(991)
117
n.a
2,257

7.45
0.63
2.06
0.28

22.14
0.86
n.a
n.a

(2.28)
19.34
n.a
n.a

0.55
1.38
0.58
0.35
n.a
0.05
10.46
0.72
3.57
8.51

0.37
1.13
0.53
0.37
n.a
0.02
10.71
0.88
1.83
3.90

0.42
4.89
0.83
0.15
n.a
n.a
13.71
1.22
(144.04)
(848.77)

Net Sales
Cost of Goods Sold
Gross Profit
Operating Expenses
Operating Profit
Other Income (Expenses)
Profit (Loss) before Taxes
Profit (Loss) after Taxes
Per Share Data (Rp)
Earnings (Loss) per Share
Equity per Share
Dividend per Share
Closing Price
Financial Ratios
PER (x)
PBV (x)
Dividend Payout (%)
Dividend Yield (%)
Current Ratio (x)
Debt to Equity (x)
Leverage Ratio (x)
Gross Profit Margin (x)
Operating Profit Margin (x)
Net Profit Margin (x)
Inventory Turnover (x)
Total Assets Turnover (x)
ROI (%)
ROE (%)

148,456
96,154
52,302
60,936
(8,634)
19,555
10,921
7,392

Number of Employees

No
1
2
3
4

Type of Listing

Listing Date

Trading Date

First Issue
Company Listing
Bonus Shares
Right Issue

13-Jun-94
13-Jun-94
07-Aug-97
11-Jun-04

13-Jun-94
02-Jan-95
07-Aug-97
11-Jun-04

2,364

Number of Shares
per Listing

Total Listed
Shares

15,000,000
23,000,000
38,000,000
73,720,000

15,000,000
38,000,000
76,000,000
149,720,000

PT Pentasena Arthasentosa

January-04
February-04
March-04
April-04
May-04
June-04
July-04
August-04
September-04
October-04
November-04
December-04
January-05
February-05
March-05
April-05
May-05
June-05

High
(Rp)
1,225
1,200
1,250
1,050
950
975
1,800
3,000
0
0
3,650
2,675
2,500
2,450
2,375
1,950
1,500
1,500

Stock Price
Low
(Rp)
975
1,025
925
950
850
875
875
1,825
0
0
2,300
2,175
2,250
2,125
1,800
1,450
1,430
1,370

Close Frequency
(Rp)
1,075
174
1,100
231
925
1,127
975
228
925
67
950
114
1,800
2,736
3,000
4,168
3,000
59
3,000
57
2,300
2,456
2,275
994
2,275
616
2,325
609
1,950
272
1,450
122
1,500
80
1,390
42

Trading
Day
18
18
22
16
15
15
15
9
17
17
17
21
20
18
20
13
11
12

Shares Traded
Volume
Value
(Thousand Shares)
(Rp Million)
1,202.00
1,341.00
12,389.00
14,778.00
11,149.00
12,320.00
6,006.00
6,357.00
378.00
343.00
722.00
682.00
39,945.00
60,882.00
42,423.00
109,507.00
854.00
2,393.00
811.00
2,138.00
17,102.00
52,254.00
3,687.00
9,172.00
4,414.00
10,451.00
4,298.00
10,060.00
1,389.00
2,927.00
5,863.00
9,118.00
5,253.00
6,619.00
137.00
195.00

Listed
Shares
76,000,000
76,000,000
76,000,000
76,000,000
76,000,000
149,720,000
149,720,000
149,720,000
149,720,000
149,720,000
149,720,000
149,720,000
149,720,000
149,720,000
149,720,000
149,720,000
149,720,000
149,720,000

Market
Capitalization
(Rp Million)
81,700.00
83,600.00
70,300.00
74,100.00
70,300.00
142,234.00
269,496.00
449,160.00
449,160.00
449,160.00
344,356.00
340,613.00
340,613.00
348,099.00
291,954.00
217,094.00
224,580.00
208,111.00

Stock Price and Traded Chart

Stock Price (Rp)

Thousand Shares

3,500

80

3,000

70
60

2,500

50

PER = -1,40x ; PBV = 11,91x (June 2005)

Financial Year: December 31
Public Accountant: Siddharta Siddharta & Widjaja (2004)

2,000
40
1,500
30
1,000

Shareholders

Waters Partners Bottling S.A.

UBS AG Singapore-UBS Equities 209114
Public

68

20

500

68.26%
14.80%
16.94%

10
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Jan04

Indonesian Capital Market Directory 2005

Feb04

Mar04

Apr04

May04

Jun04

Institute for Economic and Financial Research

Jul04

Aug04

Sep04

Oct04

Nov04

Dec04

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