Finance PT KAI

Gross profit margin ratio in 2013 was 31.16%, an increase from 27.87% in previous year. It reflecs that Company's selling activities was becoming more efficient. Operating profit ratio was also increasing from 10.01% in 2012 to 12.33% in 2013. Return on investment in 2013 was 10.13%, an increase from 9.83% in 2012. This increase was caused by the increase of net profit. Return on equity was also rising from 8.76% in 2012 to 10.32% in 2013.A. ASSETTotal assets of PT KAI (Persero) in 2013 reached IDR 15.26 trillion, increased 70.28% from IDR 8.96 trillion in 2012. The total asset composition is 27.12% current asset and 72.88% non-current asset, IDR 4.14 trillion and IDR 11.12 trillion respectively. The increasing value of asset comes from the increasing of fixed asset by 72.79% from IDR 5.97 trillion in 2012 to IDR 10.32 trillion in 2013. The rise in fixed asset value was resulted from investment in rolling stocks to lever business growth.

1. Current AssetIn 2013, current asset of the Company reached IDR 4.14 trillion, increased IDR 1.597 trillion or 62.86% from IDR 2.54 trillion in 2012. The increasing was driven by: An IDR 207,45 billion increase in trade receivables and other receivables. An IDR 106.54 billion increase in accrued income . An IDR 120.33 billion increase in prepaid tax. An IDR 578.63 billion increase in other current assets.

The increasing was compensated by: An IDR 53.97 billion decrease (7.79%) in inventories. An IDR 102.63 billion decrease (75.39%) in advance payment.

Current asset compositiona. Cash and Cash EquivalentIn 2013, the value of cash and cash equivalent contributes 44.38% to the current asset composition of the Company. Cash and cash equivalent increased 67.59% to IDR 1.84 trillion from IDR 1.09 trillion in 2012. The increasing was caused by PSO fund and working capital credit drawdown.b. Trade Receivables And Other ReceivablesIn 2013 the Companys trade receivables increased 46,21% to IDR 361.71 billion from IDR 247.40 billion in 2012. Meanwhile, other receivables increased 195.35% into IDR 140.82 billion from IDR 47.68 billion in 2012. Both increasing were caused by increasing amount of sales.c. Other Current AssetsIn 2013, other current assets of the Company increased by 429.96% from IDR 136.16 billion to IDR 714.79 billion. The increasing was caused by L/C issuance for purchasing inventories and fixed assets.

2. Non-Current AssetsIn 2013, non-current assets of the Company reached IDR 11.12 trillion, an increase by IDR 4.70 trillion or 73.22% from IDR 6.42 trillion in 2012. The increasing was driven by the increasing amount of fixed asset value from purchasing 144 locomotives, 510 wagon and other assets.

a. Fixed AssetsCompanys fixed assets contributed 92.73% of non-current assets. In 2013 the companys fixed assets increased 72.79% to IDR 10.31 trillion from IDR 5.97 trillion in 2012. The increasing was caused by purchasing of rolling stocks i.e. locomotives, wagon and coaches.b. Other AssetsIn 2013, other non-current assets value increased 151,05% to IDR 636.96 billion from IDR 252.82 billion in 2012. This increase was caused by purchasing production supporting facilities.c. Liability and EquityThe liability of the company reached IDR 9.14 trillion in 2013, an increase by 151.17% from 2012. This was particularly caused by the increasing value of noncurrent liabilities by 234.57%.d. Current LiabilityIn 2013, current liability of the Company reached IDR 4.26 trillion, an increase by IDR 2.08 trillion or 95.65% from IDR 2.18 trillion in 2012.

Current liability composition

The increasing was caused by: Increasing of trade payable by 89,22% from IDR 1.95 trillion in 2012 into IDR 3.69 trillion. Increasing by tax payable by 152% from IDR 222,91 billion in 2012 into IDR 561.72 billion.

NON-CURRENT LIABILITYIn 2013, noncurrent liability of the Company reached IDR 4.88 trillion increased IDR 3.42 trillion or 233.88% from noncurrent liability in 2012 amounted to IDR 1.46 trillion

Non current liability cmposition

C. EQUITYAs of 31 December 2013, the Companys equity position was IDR 6.12 trillion, an increase by IDR 799 billion or 15.01% from IDR 5.32 trillion as of 31 December 2012. The increasing was caused by the increasing value of government equity participation and the increasing value of unappropriated retained earnings, IDR 246,61 billion and IDR 492.39 billion respectively.