260,788,956 Annual Report 2015 PT GMF AeroAsia

Corporate Governance PERUSAHAAN Corporate Social Responsibility Audited Financial Statements ANNUAL REPORT AWARD 2015 Reference of 2015 Annual Report Award Criteria 195 Laporan Tahunan 2015 | Annual Report Beban Pegawai Beban pegawai terdiri dari gaji dan tunjangan, insentif, imbalan kerja serta lain-lain. Beban pegawai meningkat 7.02 menjadi USD84,908,880 dibandingkan tahun 2014 sebesar USD79,342,462. Peningkatan beban pegawai terutama disebabkan oleh peningkatan jumlah karyawan. Beban Material Beban material terdiri dari suku cadang expandable, suku cadang repairable, dan freight serta lain-lain. Beban material meningkat 5.64 menjadi USD65,571,775 dibandingkan tahun 2014 sebesar USD62,071,063, namun masih lebih rendah jika dibandingkan dengan peningkatan pendapatan usaha. Peningkatan beban material terutama disebabkan karena meningkatnya jumlah beban repairable material. Beban Subkontrak Beban subkontrak terdiri dari komponen subkontrak, serta jasa teknis dan penunjang penerbangan. Beban Employee Expense Employee expenses consist of salaries and allowances, incentives, employee benefits and others. Employee expenses increased by 7.02 to USD84,908,880 compared to 2014 amounting to USD79,342,462. The increase in personnel expenses is mainly due to the increased number of employees. Material Expense Material expenses consist of expandable spare parts, repairable spare parts, and freight as well as others. Cost of materials increased by 5.64 compared to USD65,571,775 to USD62,071,063 in 2014, but still lower than the increase in revenues. The increase in material costs was primarily due to the increase in total of repairable material expenses. Subcontract Expense Subcontract expense consists of subcontracting components, as well as technical services and aviation Graik Beban Usaha Tahun 2011-2015 USD Chart of Operating Expense in 2011-2015 USD 174,528,683 212,481,455 197,201,215 239,093,550 260,788,956 2011 2013 2012 2014 2015 Analisis Kinerja Keuangan Analysis of Financial Performance KILAS KINERJA Performance Highlights PEMEGANG SAHAM DAN PEMANGKU KEPENTINGAN Report to Shareholders and Stakeholders Company Proile Business Suport Review MANAJEMEN Management Discussion and Analysis 196 Laporan Tahunan 2015 | Annual Report subkontrak meningkat 17.02 menjadi USD57,430,891 dibandingkan tahun 2014 sebesar USD49,076,004. Peningkatan beban subkontrak terutama karena adanya peningkatan jumlah pekerjaan rotable parts dan handling. Beban Penyusutan, Amortisasi dan Penurunan Aset Beban penyusutan, amortisasi dan penurunan aset meningkat 36.91 menjadi USD8,908,316 dibandingkan tahun 2014 sebesar USD6,506,521. Peningkatan beban penyusutan, amortisasi dan penurunan aset terutama disebabkan oleh penambahan aset pada tahun berjalan berupa peralatan dan perlengkapan bengkel, suku cadang rotable dan pembangunan hangar. Beban Operasional Lainnya Beban operasional lainnya terdiri dari sewa, pemeliharaan dan perbaikan, listrik, air dan telepon jasa profesi, perjalanan serta Lain-lain. Beban operasional lainnya meningkat 4.45 menjadi USD43,969,094 dibandingkan tahun 2014 sebesar USD42,097,500. Program efesiensi yang dilakukan oleh perusahaan menyebabkan peningkatan beban operasional lainnya lebih rendah dari peningkatan pendapatan usaha. support. Expenses increased subcontracting 17.02 to USD57,430,891 compared to 2014 amounting to USD49,076,004. Subcontracting expenses increased primarily due to an increased number of jobs rotable parts and handling. Depreciation Expense, Amorization, and Impairment of Assets Depreciation expense, amortization and impairment of assets increased by 36.91 to USD8,908,316 compared to 2014 amounting to USD6,506,521. Increases in depreciation, amortization and impairment of assets primarily due to the addition of assets in the current year in the form of equipment and supplies Joinery, rotable spare parts and construction of hangars. Other Operating Expense Other operating expenses consist of rent, maintenance and repairs, electricity, water and profession services telephone, travel and etc. Other operating expenses increased by 4.45 to USD43,969,094 compared to 2014 amounting to USD42,097,500. Eiciency programs, undertaken by the company led to an increase in other operating expenses is lower than the increase in operating revenues. Laba Usaha Operating Proit Laba usaha meningkat 105.87 menjadi USD50,590,173 dibandingkan tahun 2014 sebesar USD24,574,076. Peningkatan laba usaha terutama disebabkan oleh adanya peningkatan pendapatan usaha pada segmen Base Maintenance, Engine Maintenance dan Component Services, serta penurunan biaya sebagai hasil program eisiensi yang dilakukan oleh Perusahaan. Operating profit increased 105.87 to USD50,590,173 compared to 2014 amounting to USD24,574,076. The increase in operating income was primarily due to an increase in operating revenues for the segment Base Maintenance, Engine Maintenance and Component Services, as well as cost reduction as a result of the eiciency program conducted by the Company. Corporate Governance PERUSAHAAN Corporate Social Responsibility Audited Financial Statements ANNUAL REPORT AWARD 2015 Reference of 2015 Annual Report Award Criteria 197 Laporan Tahunan 2015 | Annual Report Beban Pajak Tax Expense Beban Pajak terdiri dari Pajak kini dan Beban Pajak Tangguhan yang berasal dari timbulnya perbedaan temporer maupun dari realisasinya. Beban pajak meningkat 95.95 menjadi USD11,864,828 dibandingkan tahun 2014 sebesar USD6,055,069, sejalan dengan peningakatan laba sebelum pajak yang dihasilkan oleh Perusahaan. Selanjutnya terkait setoran pajak akan dibahas di sub bab selanjutnya mengenai Kontribusi kepada Negara pada Laporan Tahunan ini. Tax expense consists of current tax and deferred tax expenses derived from temporary differences and the emergence of realization. The tax expense increased by 95.95 to USD11,864,828 compared to 2014 amounting to USD6,055,069 , along with enhancements to the proit before taxes generated by the Company . Further related tax payments will be discussed in the next section of the contributions to the Nation in this Annual Report. Graik Laba Usaha Tahun 2011-2015 USD Chart of Operating Proit in 2011-2015 USD 11,330,775 17,812,689 14,436,500 24,574,076 50,590,173 2011 2013 2012 2014 2015 Analisis Kinerja Keuangan Analysis of Financial Performance KILAS KINERJA Performance Highlights PEMEGANG SAHAM DAN PEMANGKU KEPENTINGAN Report to Shareholders and Stakeholders Company Proi le Business Suport Review MANAJEMEN Management Discussion and Analysis 198 Laporan Tahunan 2015 | Annual Report Dari ketiga aktivitas arus kas, GMF memiliki saldo akhir kas dan setara kas sebesar USD25,457,040 dengan kenaikan bersih sebesar USD5,174,971 dari tahun sebelumnya. From the three cash l ows activities, GMF has the i nal balance of cash and cash equivalents amounted to USD25,457,040 with a net increase of USD5,174,971 from the previous year. Analisis Arus Kas Cash Flow Analysis Kenaikan kas dan setara kas sebesar USD5,174,971 sehingga saldo kas dan setara kas pada tahun 2015 adalah sebesar USD25,457,040 meningkat 24.98 dibandingkan tahun 2014 sebesar USD20,368,358. Peningkatan tersebut berasal dari kas yang diperoleh dari aktivitas operasional Perusahaan serta adanya pencairan pendanaan untuk investasi pada akhir tahun 2015 yang mayoritas akan direalisasikan pada tahun 2016. The increase in cash and cash equivalents amounting to USD5,174,971 so that cash and cash equivalents in 2015 amounted to USD25,457,040 increased by 24.98 compared to 2014 amounting to USD20,368,358. The increase is derived from cash generated from operating activities of the Company as well as the disbursement of funding for investment in late 2015 that the majority will be realized in 2016. Tabel Arus Kas Tahun 2011-2015 USD Table of Cash Flow in 2011-2015 USD Uraian In Detail 2011 2012 2013 2014 NaikTurun Increase Decrease 2015 Kas dan Setara Awal Tahun Beginning Year Cash and Cash Flow 4,701,179 6,784,650 13,331,377 17,330,140 17.53 20,368,358 Kenaikan Bersih Kas dan Setara Kas Net Cash and Cash Equivalent Increase 2,083,471 8,189,262 6,022,090 4,819,192 7.38 5,174,971 Kas Bersih diperoleh dari Aktivitas Operasi Net Cash from Operations Activities 21,926,874 11,385,689 13,756,458 15,239,562 93.54 983,795 Kas Bersih digunakan untuk Aktivitas Investasi Net Cash used for Investment Activities 8,676,861 7,378,248 34,309,752 23,245,804 73.43 6,176,781 Kas Bersih diperoleh dari Aktivitas Pendanaan Net Cash from Financing Activities 11,075,542 4,181,821 26,575,384 12,825,434 19.16 10,367,957 Jumlah Kas dan Setara Kas Akhir Tahun End Year Cash Total and Cash Equivalents 6,784,650 13,331,377 17,330,140 20,368,358

24.98 25,457,040

Corporate Governance PERUSAHAAN Corporate Social Responsibility Audited Financial Statements ANNUAL REPORT AWARD 2015 Reference of 2015 Annual Report Award Criteria 199 Laporan Tahunan 2015 | Annual Report Kas Bersih Diperoleh dari Aktivitas Operasi Net Cash from Operational Activities Kas Bersih Digunakan untuk Aktivitas Investasi Net Cash Used for Investment Activities Kas Bersih Diperoleh dari Aktivitas Pendanaan Net Cash from Financing Activities Kas bersih diperoleh dari aktivitas operasi menurun 93.54 menjadi USD983,795 dibandingkan tahun 2014 sebesar USD15,239,562. Penurunan tersebut terutama disebabkan oleh penurunan tingkat kolektibilitas piutang terutama disesuaikan dengan kemampuan bayar pelanggan dan peningkatan pembayaran pada vendor. Kas bersih digunakan untuk aktivitas investasi menurun 73.43 menjadi USD6,176,781 dibandingkan tahun 2014 sebesar USD23,245,804. Penurunan tersebut terutama disebabkan karena mayoritas pembayaran investasi tahun 2015 baru akan terjadi pada tahun 2016. Kas bersih diperoleh dari aktivitas pendanaan menurun 19.16 menjadi USD10,367,957 dibandingkan tahun 2014 sebesar USD12,825,434. Penurunan tersebut terutama disebabkan oleh pembayaran cicilan pokok pinjaman menjadi sebesar USD11,585,957 pada tahun 2015, lebih besar dibandingkan pembayaran cicilan pokok pinjaman sebesar USD3,522,017 pada tahun 2014. Disisi lain pada akhir tahun 2015, perusahaan melakukan pencairan pinjaman dari PT Indonesia Infrastructure Finance yang mayoritas akan direalisasikan pada tahun 2016. Net cash obtained from operational activities is decreased 93.54 to USD983,795 compared to 2014 amounting to USD15,239,562. The decrease was primarily due to a decrease in receivable collection especially tailored to the customer’s ability to pay and an increase in payments to the vendor. Net cash used in investing activities is decreased 73.43 to USD 6,176,781 compared to 2014 USD 23,245,804. The decrease was primarily due to the payment of the majority of investments in 2015 will occur in 2016. Net cash provided by financing activities is decreased 19.16 to USD10,367,957 compared to 2014 amounting to USD12,825,434. The decrease was primarily due to the repayment of principal amounted to USD11,585,957 in 2015, greater than the loan principal repayment amounting to USD3,522,017 in 2014. On the other hand at the end of 2015, the company made a loan disbursement of PT Indonesia Infrastructure Finance that the majority will be realized in 2016.