DAILY UPDATE May 2, 2014 News... · 2014. 5. 2. · MPPA – PT Matahari Putra Prima reported its 1Q14 results: MPPA (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ Revenue 2,640

/

DAILY UPDATE May 2, 2014

MACROECONOMIC NEWS

The Fed – The Federal Reserve said it will keep reducing the

pace of bond purchases as the economy shakes off the winter

doldrums, putting the central bank on a course to end the

unprecedented stimulus program by the close of 2014. Growth

“has picked up recently,” the FOMC said in the statement, while

“Household spending appears to be rising more quickly.” The

committee pared monthly asset buying to USD 45 billion, its

fourth straight USD 10 billion cut, and said further reductions

are likely in “measured steps.”

US Economy – Consumer spending surged in March by the most

in almost 5 years as warmer weather brought shoppers back to

auto-dealer lots and malls. Household purchases, which account

for about 70% of the economy, climbed 0.9%, the most since

August 2009, after a 0.5% gain in February that was larger than

previously estimated. Incomes increased by the most in seven

months. Manufacturing picked up in April after consumer

spending surged the prior month. The ISM’s factory index rose

to 54.9, the strongest so far this year, from 53.7 in March.

Household purchases climbed in March by the most since

August 2009.

US Jobs – Applications for US unemployment benefits

unexpectedly climbed to a 9-week high, underscoring the

difficulty adjusting the data for seasonal variations such as the

Easter holiday and spring recess at schools. Jobless claims rose

by 14,000 to 344,000 in the period ended April 26, the highest

level since Feb. 22.

China Economy – China’s manufacturing grew less than analysts

estimated in April, highlighting weakness in the economy from

exports to construction that could force extra government

measures to support growth. The PMI was at 50.4, less than

estimated. March’s reading was 50.3.

CORPORATE NEWS

SSIA – PT Surya Semesta Internusa aims to finalize the

acquisition of a 1,000 hectares land in Karawang, West Java by

2015. The land acquisition cost IDR 300 billion.

PT. Panin Asset Management JSX Building Tower I, 3rd Floor Jl. Jend. Sudirman Kav. 52-53 , Jakarta 12190 T : (021) 515-0595 , F : (021) 515-0601

Equity Markets

Closing % Change

Dow Jones 16559 -0.1

NASDAQ 4127 0.3

MSCI excl. Jap 549 0.0

Nikkei 14436 -0.3

Hang Seng 22134 -1.4

STI 3264 -0.0

JCI 4840 0.4

Indo ETF (IDX) 25.6 0.7

Indo ETF (EIDO) 27.8 0.4

Commodities Last Price Chg %Chg

Oil NYMEX 99.3 -0.1 -0.1

Oil BRENT 107.7 -0.1 -0.1

Coal NYMEX 61.4 0.1 0.2

Coal Newcastle 72.8

Nickel 18285 -40 -0.2

Tin 22855 -95 -0.4

Gold 1282 -2.0 -0.2

CPO Rott 903 -5 -0.6

CPO Malay 2700 -17 -0.6

Indo Gov. Bond Yields

Last Yield Chg %Chg

1 year 6.80 0.06 0.92

3 year 7.37 -0.03 -0.45

5 year 7.65 0.01 0.14

10 year 8.01 0.01 0.15

15 year 8.45 -0.00 -0.04

30 year 8.74 -0.01 -0.09

Currency

Closing Last Trade

US$ - IDR 11562 11551

US$ - Yen 102.33 102.35

Euro - US$ 1.387 1.3861

US$ - SG$ 1.2528 1.2533

CORPORATE NEWS – cont’d

GGRM – PT Gudang Garam announced its 3m 2014 result: GGRM (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

12,639 15,670 23.99%

15,420 15,670 1.62%

Gross Profit

2,441 3,255 33.35%

2,947 3,255 10.46%

Operating Profit

1,538 2,151 39.88%

1,832 2,151 17.45%

Pretax Earnings

1,417 1,914 35.11%

1,566 1,914 22.24%

Net Income

1,047 1,417 35.34%

1,093 1,417 29.70%

EPS

544 737 35.40%

568 737 29.73%

Gross Profit Margin

19.3% 20.8% 1.5%

19.1% 20.8% 1.7%

Operating Profit Margin

12.2% 13.7% 1.6%

11.9% 13.7% 1.9%

Net Profit Margin

8.3% 9.0% 0.8%

7.1% 9.0% 2.0%

HMSP – PT HM Sampoerna announced its 3m 2014 result: HMSP (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

17,436 18,313 5.03%

20,331 18,313 -9.93%

Gross Profit

4,662 4,885 4.78%

5,680 4,885 -14.01%

Operating Profit

3,495 3,598 2.94%

4,198 3,598 -14.28%

Pretax Earnings

3,495 3,676 5.17%

4,360 3,676 -15.70%

Net Income

2,608 2,756 5.66%

3,271 2,756 -15.75%

EPS

595 629 5.71%

746 629 -15.68%

Gross Profit Margin

26.7% 26.7% -0.1%

27.9% 26.7% -1.3%


20.0% 19.6% -0.4%

20.6% 19.6% -1.0%

Net Profit Margin

15.0% 15.0% 0.1%

16.1% 15.0% -1.0%

WIIM – PT Wismilak Inti Makmur reported its 1Q14 results:

WIIM (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

417 355 -14.98%

395 355 -10.30%

Gross Profit

110 110 0.28%

121 110 -9.28%

Operating Profit

60 45 -24.72%

30 45 49.19%

Pretax Earnings

60 44 -26.46%

28 44 55.93%

Net Income

47 36 -22.41%

21 36 69.97%

EPS

22 17 -22.41%

10 17 69.97%

Gross Profit Margin

26.3% 31.0% 4.7%

30.7% 31.0% 0.3%


14.5% 12.8% -1.7%

7.7% 12.8% 5.1%

Net Profit Margin

11.2% 10.2% -1.0%

5.4% 10.2% 4.8%

MLBI – PT Multi Bintang Indonesia announced its 3m 2014 result: MLBI (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

639 738 15.54%

895 738 -17.54%

Gross Profit

418 428 2.52%

587 428 -27.01%

Operating Profit

292 275 -5.57%

430 275 -35.89%

Pretax Earnings

295 246 -16.58%

444 246 -44.47%

Net Income

220 184 -16.29%

331 184 -44.41%

EPS

10,443 8,742 -16.29%

15,725 8,742 -44.41%

Gross Profit Margin

65.4% 58.0% -7.4%

65.5% 58.0% -7.5%


45.7% 37.3% -8.3%

48.0% 37.3% -10.7%

Net Profit Margin

34.4% 25.0% -9.5%

37.0% 25.0% -12.1%


RMBA – PT Bentoel Indonesia Investama reported its 1Q14 results:

RMBA (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

2,569 3,268 27.20%

3,517 2,569 -26.93%

Gross Profit

379 203 -46.49%

510 379 -25.56%

Operating Profit

(254) (431)

(319) (254)

Pretax Earnings

(303) (592)

(474) (303)

Net Income

(234) (452)

(381) (234)

EPS

(32.3) (62.4)

(53) (32)

Gross Profit Margin

14.8% 6.2% -8.6%

14.5% 14.8% 0.3%


Net Profit Margin

GJTL – PT Gajah Tunggal announced its 3m 2014 result. GJTL (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

3,038 3,200 5.32%

3,244 3,200 -1.37%

Gross Profit

636 552 -13.14%

458 552 20.67%

Operating Profit

412 269 -34.70%

252 269 6.57%

Pretax Earnings

414 471 13.75%

-86 471 -649.62%

Net Income

344 335 -2.66%

-85 335 -493.08%

EPS

99 96 -3.03%

-24 96 -500.00%

Gross Profit Margin

20.9% 17.3% -3.7%

14.1% 17.3% 3.2%


13.6% 8.4% -5.2%

7.8% 8.4% 0.6%

Net Profit Margin

11.3% 10.5% -0.9%

-2.6% 10.5% 13.1%

LPPF – PT Matahari Dept Store announced its 3m 2014 result: LPPF (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

1,257 1,480 17.69%

1,646 1,480 -10.09%

Gross Profit

796 924 16.12%

1,078 924 -14.26%

Operating Profit

224 263 17.27%

430 263 -38.83%

Pretax Earnings

138 190 37.41%

344 190 -44.80%

Net Income

82 123 49.74%

250 123 -50.85%

EPS

28 42 50.00%

86 42 -51.16%

Gross Profit Margin

63.3% 62.5% -0.8%

65.5% 62.5% -3.0%


17.8% 17.8% -0.1%

26.1% 17.8% -8.4%

Net Profit Margin

6.5% 8.3% 1.8%

15.2% 8.3% -6.9%

MPPA – PT Matahari Putra Prima reported its 1Q14 results:

MPPA (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

2,640 3,126 18.43%

3,203 3,126 -2.40%

Gross Profit

419 530 26.43%

524 530 1.18%

Operating Profit

40 82 102.39%

151 82 -45.81%

Pretax Earnings

81 75 -7.91%

164 75 -54.20%

Net Income

63 51 -19.36%

124 51 -58.90%

EPS

12 9 -19.36%

23 9.5 -58.90%

Gross Profit Margin

15.9% 16.9% 1.1%

16.3% 16.9% 0.6%


1.5% 2.6% 1.1%

4.7% 2.6% -2.1%

Net Profit Margin

2.4% 1.6% -0.8%

3.9% 1.6% -2.2%


RANC – PT Supra Boga Lestari has reported its financial results for 1Q14:

RANC (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

311 386 23.92%

348 386 10.92%

Gross Profit

81 99 21.57%

88 99 11.38%

Operating Profit

11 3 -73.80%

1 3 145.53%

Pretax Earnings

12 6 -48.33%

9 6 -30.51%

Net Income

10 6 -35.68%

8 6 -17.47%

EPS

6 4 -35.68%

5 4.1 -17.47%

Gross Profit Margin

26.0% 25.5% -0.5%

25.4% 25.5% 0.1%


3.4% 0.7% -2.7%

0.3% 0.7% 0.4%

Net Profit Margin

3.2% 1.7% -1.5%

2.2% 1.7% -0.6%

AMRT – PT Sumber Alfaria Trijaya reported its 1Q14 financial results:

AMRT (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

7,431 9,144 23.05%

9,781 9,144 -6.51%

Gross Profit

1,317 1,650 25.26%

1,865 1,650 -11.56%

Operating Profit

49 56 14.05%

275 56 -79.64%

Pretax Earnings

30 11 -64.45%

253 11 -95.76%

Net Income

31 10 -67.70%

193 10 -94.82%

EPS

0.8 0.3 -67.70%

5 0.3 -94.82%

Gross Profit Margin

17.7% 18.0% 0.3%

19.1% 18.0% -1.0%


0.7% 0.6% 0.0%

2.8% 0.6% -2.2%

Net Profit Margin

0.4% 0.1% -0.3%

2.0% 0.1% -1.9%

MIDI – PT Midi Utama Indonesia announced its 1Q14 results:

MIDI (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

1,075 1,279 18.97%

1,646 1,279 -22.28%

Gross Profit

235 286 21.45%

1,078 286 -73.50%

Operating Profit

12 21 82.25%

396 21 -94.71%

Pretax Earnings

1 8 595.14%

343 8 -97.62%

Net Income

2 7 224.09%

251 7 -97.09%

EPS

1 3 224.09%

87 2.5 -97.09%

Gross Profit Margin

21.9% 22.3% 0.5%

65.5% 22.3% -43.2%


1.1% 1.6% 0.6%

24.1% 1.6% -22.4%

Net Profit Margin

0.2% 0.6% 0.4%

15.2% 0.6% -14.7%

ACES – PT Ace Hardware Indonesia announced its 3m 2014 result: ACES (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

887 1,075 21.14%

1,107 1,075 -2.88%

Gross Profit

427 530 24.25%

567 530 -6.48%

Operating Profit

110 162 46.96%

202 162 -20.07%

Pretax Earnings

113 168 49.12%

233 168 -27.95%

Net Income

93 137 47.53%

191 137 -28.33%

EPS

5 8 50.75%

11 8 -30.16%

Gross Profit Margin

48.1% 49.3% 1.2%

51.2% 49.3% -1.9%


12.4% 15.0% 2.6%

18.3% 15.0% -3.2%

Net Profit Margin

10.4% 12.7% 2.3%

17.2% 12.7% -4.5%


KLBF – PT Kalbe Farma reported its 1Q14 earnings results:

KLBF (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

3,490 4,067 16.52%

4,562 4,067 -10.87%

Gross Profit

1,688 1,945 15.19%

2,108 1,945 -7.74%

Operating Profit

576 643 11.77%

717 643 -10.29%

Pretax Earnings

585 657 12.37%

759 657 -13.37%

Net Income

444 493 11.04%

553 493 -10.89%

EPS

10 12 11.04%

13 12 -10.89%

Gross Profit Margin

48.4% 47.8% -0.6%

46.2% 47.8% 1.6%


16.5% 15.8% -0.7%

15.7% 15.8% 0.1%

Net Profit Margin

12.7% 12.1% -0.6%

12.1% 12.1% 0.0%

INAF – PT Indofarma announced its 1Q14 results:

INAF (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

123 155 25.62%

697 155 -77.74%

Gross Profit

47 51 7.58%

144 51 -64.73%

Operating Profit

(15) (36)

36 (36)

Pretax Earnings

(15) (50)

16 (50)

Net Income

(11) (38)

7 (38)

EPS

(4) (12)

2 (12.4)

Gross Profit Margin

38.2% 32.7% -5.5%

20.6% 32.7% 12.1%


-12.2% -23.3% -11.1%

5.1% -23.3% -28.5%

Net Profit Margin

-8.9% -24.8% -15.9%

1.0% -24.8% -25.7%

INCO – PT Vale Indonesia reported 3M14 financial reports:

INCO (USD mio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

258 213 -17.53%

201 213 6.25%

Gross Profit

58 36 -37.88%

24 36 50.63%

Operating Profit

56 33 -40.70%

21 33 59.41%

Pretax Earnings

42 24 -42.99%

(11) 24

Net Income

32 18 -42.99%

(9) 18

EPS

0.003 0.002 -42.99%

(0.001) 0.002

Gross Profit Margin

22.6% 17.0% -5.6%

12.0% 17.0% 5.0%


21.6% 15.6% -6.1%

10.4% 15.6% 5.2%

Net Profit Margin

12.2% 8.4% -3.8%

8.4%

HRUM – PT Harum Energy reported 3M14 financial reports:

HRUM (USD mio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

224 128 -42.75%

170 128 -24.76%

Gross Profit

39 29 -26.89%

35 29 -18.82%

Operating Profit

13 11 -14.30%

9 11 21.64%

Pretax Earnings

11 15 42.19%

7 15 133.56%

Net Income

7 11 54.78%

6 11 94.51%

EPS

0.003 0.004 54.78%

0.002 0.004 94.51%

Gross Profit Margin

17.4% 22.3% 4.8%

20.6% 22.3% 1.6%


5.8% 8.6% 2.9%

5.3% 8.6% 3.3%

Net Profit Margin

3.1% 8.4% 5.3%

3.3% 8.4% 5.2%


TBLA – PT Tunas Baru Lampung announced its 3m 2014 result: TBLA (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

873 1,158 32.69%

1,291 1,158 -10.27%

Gross Profit

237 291 22.92%

295 291 -1.10%

Operating Profit

132 216 63.14%

142 216 52.28%

Pretax Earnings

100 169 69.64%

30 169 463.43%

Net Income

77 132 70.08%

11 132 1057.08%

EPS

16 27 70.10%

2 27 1052.38%

Gross Profit Margin

27.1% 25.1% -2.0%

22.8% 25.1% 2.3%


15.1% 18.6% 3.5%

11.0% 18.6% 7.6%

Net Profit Margin

8.9% 11.4% 2.5%

0.9% 11.4% 10.5%

CMNP – PT Citra Marga Nusaphala reported 3M14 financial reports:

CMNP (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

224 263 17.13%

262 263 0.43%

Operating Profit

132 144 9.21%

128 144 12.56%

Pretax Earnings

134 146 8.27%

111 146 31.26%

Net Income

109 118 8.63%

89 118 32.68%

EPS

50 54 8.63%

41 54 32.68%


58.7% 54.7% -4.0%

48.8% 54.7% 5.9%

Net Profit Margin

48.6% 45.1% -3.5%

34.1% 45.1% 11.0%

AKRA – PT AKR Corporindo published its 3M 2014 financial results

AKRA (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

5,439 5,630 3.5%

6,167 5,630 -8.7%

Gross Profit

313 370 18.2%

400 370 -7.6%

Operating Profit

186 223 20.1%

255 223 -12.5%

Pretax Earnings

188 225 19.4%

137 225 63.5%

Net Income (continued op) 158 180 14.4%

123 180 46.3%

EPS (continued op)

41 46 14.4%

32 46 46.3%

Gross Profit Margin

5.7% 6.6% 0.8%

6.5% 6.6% 0.1%


3.4% 4.0% 0.5%

4.1% 4.0% -0.2%

Net Profit Margin

2.9% 3.2% 0.3%

2.0% 3.2% 1.2%

SMGR – PT Semen Indonesia announced its 3m 2014 result: SMGR (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

5,544 6,178 11.44%

7,110 6,178 -13.11%

Gross Profit

2,485 2,675 7.67%

3,104 2,675 -13.81%

Operating Profit

1,599 1,639 2.51%

1,927 1,639 -14.93%

Pretax Earnings

1,577 1,658 5.20%

1,914 1,658 -13.33%

Net Income

1,236 1,303 5.39%

1,464 1,303 -11.00%

EPS

208 220 5.77%

246 220 -10.57%

Gross Profit Margin

44.8% 43.3% -1.5%

43.7% 43.3% -0.3%


28.8% 26.5% -2.3%

27.1% 26.5% -0.6%

Net Profit Margin

22.3% 21.1% -1.2%

20.6% 21.1% 0.5%


INTP – PT Indocement Tunggal Prakarsa announced its 3m 2014 result: INTP (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

4,219 4,500 6.65%

5,343 4,500 -15.78%

Gross Profit

1,969 1,969 0.02%

2,386 1,969 -17.46%

Operating Profit

1,353 1,240 -8.37%

1,628 1,240 -23.87%

Pretax Earnings

1,487 1,438 -3.33%

1,812 1,438 -20.63%

Net Income

1,146 1,129 -1.46%

1,402 1,129 -19.43%

EPS

311 307 -1.45%

381 307 -19.43%

Gross Profit Margin

46.7% 43.8% -2.9%

44.6% 43.8% -0.9%


32.1% 27.5% -4.5%

30.5% 27.5% -2.9%

Net Profit Margin

27.2% 25.1% -2.1%

26.2% 25.1% -1.1%

APLN – PT Agung Podomoro Land reported its 1Q14 results:

APLN (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

1,142 1,165 1.99%

1420.06 1165.13 -17.95% Gross Profit

596 628 5.41%

667.57 627.85 -5.95%

Operating Profit

384 400 4.35%

328.03 400.49 22.09% Pretax Earnings

333 343 3.10%

313.40 343.37 9.56%

Net Income

245 296 20.67%

253.95 295.86 16.50% EPS

12.0 14.4 20.67%

12.39 14.43 16.50%

Gross Profit Margin

52.1% 53.9% 1.7%

47.0% 53.9% 6.9% Operating Profit Margin

33.6% 34.4% 0.8%

23.1% 34.4% 11.3%

Net Profit Margin

21.5% 25.4% 3.9%

17.9% 25.4% 7.5%

ASRI – PT Alam Sutera Realty announced its 1Q14 results:

ASRI (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

902 871 -3.40%

642.59 871.13 35.57% Gross Profit

552 415 -24.70%

328.36 415.49 26.53%

Operating Profit

490 334 -31.81%

235.55 334.09 41.83% Pretax Earnings

449 347 -22.58%

57.10 347.47 508.51%

Net Income

405 310 -23.45%

21.91 309.92 1314.52% EPS

20.6 15.8 -23.45%

1.12 15.77 1314.52%

Gross Profit Margin

61.2% 47.7% -13.5%

51.1% 47.7% -3.4% Operating Profit Margin

54.3% 38.4% -16.0%

36.7% 38.4% 1.7%

Net Profit Margin

44.9% 35.6% -9.3%

3.4% 35.6% 32.2%

BEST – PT Bekasi Fajar Industrial Estate and Daiwa House Industry Co Ltd established a JV company PT Daiwa

Manunggal Logistik Properti, to operate in May-June 2014. Currently, the management is still waiting for

regulatory approval to lease out standard factory building, and logistic warehouse to other companies. This year,

the company allocates IDR 300 billion capital expenditure, and the management plans to utilize its past year

retained earnings as the main source of fund.

BSDE – PT Bumi Serpong Damai announced its 1Q14 financial results:

BSDE (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

2,077 1,254 -39.62%

1520.68 1254.12 -17.53% Gross Profit

1,659 897 -45.92%

1025.67 896.95 -12.55%

Operating Profit

1,411 612 -56.64%

631.88 611.97 -3.15% Pretax Earnings

1,463 605 -58.65%

654.56 604.76 -7.61%

Net Income

1,243 489 -60.70%

539.13 488.64 -9.37% EPS

71.1 27.9 -60.70%

30.81 27.93 -9.37%

Gross Profit Margin

79.9% 71.5% -8.3%


67.9% 48.8% -19.1%

41.6% 48.8% 7.2%

Net Profit Margin

59.9% 39.0% -20.9%

35.5% 39.0% 3.5%


CTRA – PT Ciputra development published its 1Q14 results:

CTRA (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

1,341 1,202 -10.35%

1214.67 1202.30 -1.02% Gross Profit

641 637 -0.55%

697.69 637.40 -8.64%

Operating Profit

410 380 -7.36%

425.39 380.00 -10.67% Pretax Earnings

436 385 -11.79%

472.81 384.59 -18.66%

Net Income

216 228 5.45%

273.75 227.66 -16.84% EPS

14.2 15.0 5.45%

18.05 15.01 -16.84%

Gross Profit Margin

47.8% 53.0% 5.2%


30.6% 31.6% 1.0%

35.0% 31.6% -3.4%

Net Profit Margin

16.1% 18.9% 2.8%

22.5% 18.9% -3.6%

CTRP – PT Ciputra Property announced its 1Q14 financial results:

CTRP (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

610 251 -58.80%

346.42 251.21 -27.48% Gross Profit

264 153 -41.86%

204.37 153.26 -25.01%

Operating Profit

218 95 -56.45%

119.49 95.10 -20.41% Pretax Earnings

229 52 -77.40%

113.88 51.76 -54.55%

Net Income

191 30 -84.29%

77.76 30.08 -61.32% EPS

31.1 4.9 -84.29%

12.64 4.89 -61.32%

Gross Profit Margin

43.2% 61.0% 17.8%


35.8% 37.9% 2.0%

34.5% 37.9% 3.4%

Net Profit Margin

31.4% 12.0% -19.4%

22.4% 12.0% -10.5%

CTRS – PT Ciputra Surya announced its 1Q14 results:

CTRS (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

272 348 27.73%

337.95 347.89 2.94% Gross Profit

169 191 13.04%

204.38 190.90 -6.60%

Operating Profit

107 134 26.17%

132.82 134.46 1.23% Pretax Earnings

118 157 32.65%

154.66 156.56 1.23%

Net Income

104 138 32.15%

117.78 137.68 16.90% EPS

52.6 69.6 32.15%

59.52 69.57 16.90%

Gross Profit Margin

62.0% 54.9% -7.1%


39.1% 38.6% -0.5%

39.3% 38.6% -0.7%

Net Profit Margin

38.3% 39.6% 1.3%

34.9% 39.6% 4.7%

JIHD – PT Jakarta International Hotels & Development reported its 1Q14 results:

JIHD (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

270 328 21.56%

359.19 328.39 -8.58% Gross Profit

179 222 23.95%

238.70 222.48 -6.80%

Operating Profit

24 43 81.84%

-60.71 43.41

Pretax Earnings

29 -26.31

21.02 -26.31

Net Income

4 -66.47

-5.29 -66.47

EPS

1.5 -28.54

-2.27 -28.54

Gross Profit Margin

66.4% 67.7% 1.3%

66.5% 67.7% 1.3%


8.8% 13.2% 4.4%

-16.9% 13.2% 30.1% Net Profit Margin

1.3% -20.2%

-1.5% -20.2%


JRPT – PT Jaya Real Property announced its 1Q14 results:

JRPT (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

313 435 39.15%

384.75 434.91 13.04% Gross Profit

175 230 31.58%

270.16 230.46 -14.69%

Operating Profit

128 169 32.32%

195.40 168.84 -13.59% Pretax Earnings

141 184 30.48%

212.66 183.89 -13.53%

Net Income

125 162 30.32%

181.55 162.44 -10.52% EPS

9.1 11.8 30.32%

13.20 11.81 -10.52%

Gross Profit Margin

56.0% 53.0% -3.1%


40.8% 38.8% -2.0%

50.8% 38.8% -12.0%

Net Profit Margin

39.9% 37.4% -2.5%

47.2% 37.4% -9.8%

KIJA – PT Kawasan Industri Jababeka announced its 1Q14 results:

KIJA (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

753 726 -3.64%

728.14 725.84 -0.32% Gross Profit

345 340 -1.43%

312.90 340.03 8.67%

Operating Profit

291 265 -9.16%

206.45 264.52 28.12% Pretax Earnings

226 333 47.35%

47.30 333.11 604.25%

Net Income

200 303 51.33%

11.78 302.52 2467.42% EPS

9.9 15.0 51.33%

0.59 15.03 2467.42%

Gross Profit Margin

45.8% 46.8% 1.1%


38.7% 36.4% -2.2%

28.4% 36.4% 8.1%

Net Profit Margin

26.5% 41.7% 15.1%

1.6% 41.7% 40.1%

LPCK – PT Lippo Cikarang reported its 1Q14 results:

LPCK (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

262 473 80.34%

469.49 472.72 0.69% Gross Profit

160 281 76.22%

224.89 281.43 25.14%

Operating Profit

140 253 80.44%

194.43 253.07 30.16% Pretax Earnings

146 252 72.61%

199.86 251.63 25.90%

Net Income

132 228 72.82%

168.10 227.59 35.39% EPS

189.2 327.0 72.82%

241.52 326.99 35.39%

Gross Profit Margin

60.9% 59.5% -1.4%


53.5% 53.5% 0.0%

41.4% 53.5% 12.1%

Net Profit Margin

50.2% 48.1% -2.1%

35.8% 48.1% 12.3%

LPKR – PT Lippo Karawaci announced its 1Q14 results:

LPKR (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

1,477 2,011 36.20%

1884.52 2011.47 6.74% Gross Profit

713 972 36.34%

820.71 972.18 18.46%

Operating Profit

373 513 37.38%

393.15 512.90 30.46% Pretax Earnings

398 530 33.30%

567.30 530.26 -6.53%

Net Income

252 339 34.72%

315.42 339.08 7.50% EPS

10.9 14.7 34.72%

13.67 14.69 7.50%

Gross Profit Margin

48.3% 48.3% 0.0%


25.3% 25.5% 0.2%

20.9% 25.5% 4.6%

Net Profit Margin

17.0% 16.9% -0.2%

16.7% 16.9% 0.1%


MKPI – PT Metropolitan Kentjana published its 1Q14 financial results:

MKPI (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

220 271 22.99%

277.32 271.12 -2.23% Gross Profit

131 154 17.35%

158.97 153.77 -3.27%

Operating Profit

117 138 17.16%


119 126 5.80%

129.96 126.05 -3.01%

Net Income

97 99 2.10%

102.43 99.05 -3.29% EPS

102.3 104.5 2.10%

108.02 104.46 -3.29%

Gross Profit Margin

59.4% 56.7% -2.7%


53.3% 50.8% -2.5%

46.9% 50.8% 3.9%

Net Profit Margin

44.0% 36.5% -7.5%

36.9% 36.5% -0.4%

MTLA – PT Metropolitan Land announced its 1Q14 results:

MTLA (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

162 214 32.49%

255.06 214.30 -15.98% Gross Profit

91 107 16.88%

144.01 106.77 -25.86%

Operating Profit

59 67 12.69%

90.52 66.62 -26.40% Pretax Earnings

59 66 12.21%

92.71 65.83 -28.99%

Net Income

50 54 6.95%

76.05 53.52 -29.62% EPS

6.6 7.1 6.95%

10.03 7.06 -29.62%

Gross Profit Margin

56.5% 49.8% -6.7%


36.5% 31.1% -5.5%

35.5% 31.1% -4.4%

Net Profit Margin

30.9% 25.0% -6.0%

29.8% 25.0% -4.8%

PLIN – PT Plaza Indonesia Realty announced its 1Q14 results:

PLIN (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

340 378 11.07%

380.07 378.07 -0.53% Gross Profit

202 241 19.41%

218.95 240.68 9.93%

Operating Profit

108 134 23.96%

115.78 134.12 15.84% Pretax Earnings

95 191 101.08%

60.47 190.56 215.14%

Net Income

73 157 114.14%

33.34 156.94 370.66% EPS

20.6 44.2 114.14%

9.39 44.21 370.66%

Gross Profit Margin

59.2% 63.7% 4.4%


31.8% 35.5% 3.7%

30.5% 35.5% 5.0%

Net Profit Margin

21.5% 41.5% 20.0%

8.8% 41.5% 32.7%

PWON – PT Pakuwon Jati announced its 1Q14 results:

PWON (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

719 825 14.72%

714.67 825.06 15.45% Gross Profit

433 478 10.49%

412.39 478.02 15.91%

Operating Profit

388 426 9.86%

332.06 426.40 28.41% Pretax Earnings

361 458 26.98%

288.40 457.82 58.74%

Net Income

309 389 26.09%

238.13 389.47 63.55% EPS

6.4 8.1 26.09%

4.94 8.09 63.55%

Gross Profit Margin

60.2% 57.9% -2.2%


54.0% 51.7% -2.3%

46.5% 51.7% 5.2%

Net Profit Margin

43.0% 47.2% 4.3%

33.3% 47.2% 13.9%


SMRA – PT Summarecon Agung published its 1Q14 results:

SMRA (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

851 938 10.24%

1053.28 938.02 -10.94% Gross Profit

524 502 -4.25%

519.82 501.88 -3.45%

Operating Profit

363 353 -2.77%

312.30 352.58 12.89% Pretax Earnings

367 332 -9.44%

278.32 332.10 19.32%

Net Income

321 275 -14.21%

222.30 275.05 23.73% EPS

22.2 19.1 -14.21%

15.41 19.07 23.73%

Gross Profit Margin

61.6% 53.5% -8.1%


42.6% 37.6% -5.0%

29.7% 37.6% 7.9%

Net Profit Margin

37.7% 29.3% -8.4%

21.1% 29.3% 8.2%

SSIA – PT Surya Semesta Internusa announced its 3m14 results:

SSIA (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

1,107 918 -17.06%

1232.57 918.07 -25.52% Gross Profit

359 204 -43.19%

280.93 204.06 -27.36%

Operating Profit

270 96 -64.54%

156.35 95.68 -38.81% Pretax Earnings

248 61 -75.54%

255.00 60.56 -76.25%

Net Income

200 12 -93.80%

205.12 12.41 -93.95% EPS

42.6 2.6 -93.80%

43.59 2.64 -93.95%

Gross Profit Margin

32.4% 22.2% -10.2%


24.4% 10.4% -14.0%

12.7% 10.4% -2.3%

Net Profit Margin

18.1% 1.4% -16.7%

16.6% 1.4% -15.3%

ADHI – PT Adhi Karya reported its 1Q14 results:

ADHI (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

1,360 1,440 5.83%

4144.39 1439.60 -65.26% Gross Profit

108 131 21.82%

648.79 131.39 -79.75%

Gross Profit with JV - net

134 132 -1.32%

645 132.41 -79.47% Operating Profit

84 70 -16.95%

505.32 69.55 -86.24%

Pretax Earnings

50 61 22.88%

380.09 61.28 -83.88% Net Income

12 16 40.84%

225.12 16.24 -92.79%

EPS

6.4 9.0 40.84%

124.97 9.01 -92.79% Gross Profit Margin

7.9% 9.1% 1.2%

15.7% 9.1% -6.5%


6.2% 4.8% -1.3%

12.2% 4.8% -7.4% Net Profit Margin

0.8% 1.1% 0.3%

5.4% 1.1% -4.3%

WTON – PT Wijaya Karya Beton disclosed its 3M 2014 financial results:

WTON (IDR bio) 3m 2013 3m 2014 YoY

Revenue 773 814 5.3% Gross Profit 106 128 21.3% Operating Profit 98 114 16.8% Pretax Earnings 99 105 6.5% Net Income 74 80 8.7% EPS 11 12 8.7% Gross Profit Margin 13.7% 15.7% 2.1%

Operating Profit Margin 12.6% 14.0% 1.4% Net Profit Margin 9.6% 9.9% 0.3%


TSPC – PT Tempo Scan Pacific announced its 3m 2014 result: TSPC (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

1,591 1,699 6.83%

1,835 1,699 -7.38%

Gross Profit

644 677 5.21%

716 677 -5.39%

Operating Profit

246 278 13.27%

48 278 479.32%

Pretax Earnings

274 292 6.49%

124 292 135.28%

Net Income

235 252 6.99%

60 252 320.07%

EPS

52 56 6.99%

13 56 320.07%

Gross Profit Margin

40.5% 39.9% -0.6%

39.0% 39.9% 0.8%


15.5% 16.4% 0.9%

2.6% 16.4% 13.8%

Net Profit Margin

14.8% 14.8% 0.0%

3.3% 14.8% 11.6%

CPIN – PT Charoen Pokphand Indonesia reported its 1Q14 results:

CPIN (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

5,646 6,720 19.02%

6978.59 6719.52 -3.71% Gross Profit

1,164 1,130 -2.87%

1131.67 1130.36 -0.12%

Operating Profit

920 826 -10.19%

687.10 826.26 20.25% Pretax Earnings

895 858 -4.10%

573.13 858.02 49.71%

Net Income

718 661 -7.84%

322.07 661.46 105.38% EPS

43.8 40.3 -7.84%

19.64 40.34 105.38%

Gross Profit Margin

20.6% 16.8% -3.8%


16.3% 12.3% -4.0%

9.8% 12.3% 2.5%

Net Profit Margin

12.7% 9.8% -2.9%

4.6% 9.8% 5.2%

MAIN – PT Malindo Feedmill announced its 1Q14 results:

MAIN (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

942 1,084 15.06%

1083.61 1083.70 0.01% Gross Profit

173 130 -25.02%

118.45 129.93 9.69%

Operating Profit

121 65 -46.22%


100 75 -25.07%

0.46 74.63 16231.29%

Net Income

78 58 -25.71%

-1.04 58.20

EPS

46.2 34.3 -25.71%

-0.61 34.34

Gross Profit Margin

18.4% 12.0% -6.4%


12.8% 6.0% -6.8%

4.8% 6.0% 1.2%

Net Profit Margin

8.3% 5.4% -2.9%

5.4% 5.4%

SIDO – PT Industri Jamu dan Farmasi Sido Muncul has reported its 1Q14 results:

SIDO (IDR bio) 3m 2013 3m 2014 YoY

Revenue

564 520 -7.74%

Gross Profit

180 196 8.79%

Operating Profit

100 119 18.98%

Pretax Earnings

104 147 41.69%

Net Income

78 116 48.00%

EPS

5 8 48.00%

Gross Profit Margin

32.0% 37.7% 5.7%


17.8% 23.0% 5.2%

Net Profit Margin

13.9% 22.3% 8.4%


ECII – PT Electronic City Indonesia has recorded its results for 1Q14:

ECII (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

384 461 20.00%

655 461 -29.61%

Gross Profit

72 88 22.22%

145 88 -39.28%

Operating Profit

36 21 -42.21%

78 21 -73.07%

Pretax Earnings

36 31 -14.18%

130 31 -75.96%

Net Income

30 26 -13.73%

111 26 -76.59%

EPS

23 20 -13.73%

83 19.5 -76.59%

Gross Profit Margin

18.7% 19.1% 0.3%

22.1% 19.1% -3.0%


9.5% 4.6% -4.9%

11.9% 4.6% -7.3%

Net Profit Margin

7.8% 5.6% -2.2%

17.0% 5.6% -11.3%

ERAA – PT Erajaya Swasembada announced its financial result for 1Q14:

ERAA (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

2,935 3,096 5.50%

3,168 3,096 -2.27%

Gross Profit

272 289 6.41%

279 289 3.81%

Operating Profit

129 119 -7.71%

123 119 -3.05%

Pretax Earnings

102 109 6.03%

128 109 -15.07%

Net Income

75 80 6.54%

111 80 -27.78%

EPS

26 28 6.54%

38 27.6 -27.78%

Gross Profit Margin

9.3% 9.3% 0.1%

8.8% 9.3% 0.5%


4.4% 3.9% -0.6%

3.9% 3.9% 0.0%

Net Profit Margin

2.6% 2.6% 0.0%

3.5% 2.6% -0.9%

MNCN – PT Media Nusantara Citra announced its 3m 2014 result: MNCN (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

1,366 1,496 9.55%

1,774 1,496 -15.63%

Gross Profit

686 774 12.90%

947 774 -18.25%

Operating Profit

476 524 10.07%

795 524 -34.16%

Pretax Earnings

560 555 -0.94%

616 555 -10.01%

Net Income

423 389 -7.99%

421 389 -7.52%

EPS

30 28 -7.99%

30 28 -7.52%

Gross Profit Margin

50.2% 51.7% 1.5%

53.4% 51.7% -1.7%


34.8% 35.0% 0.2%

44.8% 35.0% -9.8%

Net Profit Margin

31.0% 26.0% -5.0%

23.7% 26.0% 2.3%

SMSM – PT Selamat Sempurna announced its 3m 2014 result: SMSM (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ

Revenue

500 628 25.71%

714 628 -12.01%

Gross Profit

136 166 22.31%

234 166 -29.05%

Operating Profit

86 120 39.64%

157 120 -23.85%

Pretax Earnings

78 119 52.51%

186 119 -36.00%

Net Income

55 83 50.86%

148 83 -43.87%

EPS

38 58 50.86%

103 58 -43.87%

Gross Profit Margin

27.1% 26.4% -0.7%

32.7% 26.4% -6.3%


17.2% 19.1% 1.9%

22.0% 19.1% -3.0%

Net Profit Margin

11.0% 13.2% 2.2%

20.7% 13.2% -7.5%

Disclaimer

The analyst(s) whose work appears in this report certifies that his or her remuneration is not correlated to his or her judgment(s) on the performance of the company(ies).

The information and/or opinions contained in this report has been assembled by Panin Asset Management from sources which we deem to be reliable and in good faith, but no representation or warranty, express or implied, is made as to their accuracy, completeness or correctness. This report may not be reproduced, distributed or published by any recipient for any purpose. Any recommendations contained herein are based on a consideration of the securities alone, and as such are conditional and must not be relied upon as a solitary basis for investment decisions. Under no circumstances is this report to be used or considered as an offer to sell, or a solicitation of an offer buy.

All opinions and estimates herein reflect the author’s judgment on the date of this report and are subject to change without notice. Panin Asset Management, its related companies, their officers, employees, representatives and agents expressly advice that they shall not be liable in any way whatsoever for any loss or damage, whether direct, indirect, consequential or othe wise howsoever arising (whether in negligence or otherwise) out of or in connection with the contents of and/or any omi sions from this communication.

Any investments referred to herein may involve significant risk, are not necessarily available in all jurisdictions, may be illiquid and may not be suitable for all investors. Investors should make their own independent assessment and seek professional financial advice before they make their investment decisions.

Due to its nature as an asset management firm, it is very much possible that Panin Asset Management and/or persons connected with it may, to the extent permitted by law, have long or short positions or may otherwise be interested in any transactions or investments (including derivatives) referred to in this publication. In addition, Panin Asset Management and/or its parent, Panin Sekuritas, and/or its affiliated companies may provide services for or solicit business from any company referred to in this publication.

The analyst(s) named in this report certifies that all of the views expressed by the analyst(s) in this report reflect the personal views of the analyst(s) with regard to any and all of the content of this report relating to the subject securities and issuers covered by the analyst(s) and no part of the compensation of the analyst(s) was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analyst(s) in this report.

WE STRONGLY ADVISE INVESTORS TO CONSULT THEIR FINANCIAL ADVISOR BEFORE MAKING THEIR INVESTMENT DECISION. ALL INVESTMENT OPPORTUNITIES PRESENT SOME SORT OF RISK. INVESTORS SHOULD ASSESS THEIR RISK SENSITIVITY IN ORDER TO DETERMINE SUITABILITY OF AN INVESTMENT OPPORTUNITY ACCORDING TO THEIR RISK PROFILE.

Documents

DAILY UPDATE May 2, 2014 News... · 2014. 5. 2. · MPPA – PT Matahari Putra Prima reported its 1Q14 results: MPPA (IDR bio) 3m 2013 3m 2014 YoY Q4 2013 Q1 2014 QoQ Revenue 2,640