21
21
Comparison between the year ended on 31 December 2008 and the year ended on 31 December 2007 Income from operations of the Company increased by Rp.24,227,942 thousand or approximately 28.87 from Rp.83,923,692
thousand in 2007 to Rp.108,151,634 thousand in 2008. This was because of the increase in operating expenses of the Company in the amount of Rp.5,008,452 thousand or approximately 25.21 compared to 2007. Although the Company increased operating
expenses to implement a strategy to increase the capacity mentioned above, the Company gained benefits from the higher increase in the Gross Profit margin from new vessels with higher added value, resulting in the increase in income from operations.
6. Other Income Charges
in thousands Rupiah
Information 31 December
For the period of 6 six months ended
on 30 June 2007
2008 2009
2010
Gain loss on foreign exchange-net 6,498,152
27,179,681 29,045,948
8,477,927 Gain on disposal of investment in shares
- -
16,487,260 -
Interest income 437,411
485,471 427,232
252,013 Gain on disposal of Non current assets
3,598,043 41,548,400
317,827 -
Amortization of deferred gain losses 611,700
7,453,983 22,305
11,152 Unearned finance income
4,371,491 3,096,473
- -
Tax penalty -
6,988,948 649,221
- Loss on impairment of unused assets
- -
2,071,304 2,380,245
Provision for doubtful accounts -
- 5,201,296
- Interest and financial charges
15,836,540 15,343,765
19,158,861 10,119,004
Others 167,139
204,943 654,961
694,824
Total 12,658,279
12,040,977 18,564,929
3,063,333
The period of 6 six months ended on 30 June 2010 Other income charges of the Company for the period of 6 six months ended on 30 June 2010 amounted to negative
Rp.3,063,333 thousand, originating from the financing of interest amounting to Rp.10,119 billion, and off-set by the gain on foreign exchange amounting to Rp.8,477,927 thousand on debts in dollar currency due to the weakening of dollar to Rupiah. In addition,
there were losses on value of unused assets amounting to Rp.2,380,245 thousand in relation to the small andor aged vessels that were not being used and in bad condition.
Comparison between the year ended on 31 December 2009 and the year ended on 31 December 2008 Other income charges increased by Rp.30,605,907 thousand or approximately 254.1 from charges of Rp.12,040,977 thousand
in 2008 to income of Rp.18,564,930 thousand in 2009. This was primarily due to gain on disposal of investment in shares of Rp.16,487,260 thousand in 2009 as a result of an internal corporate restructuring carried out by the Company in 2009 and the
increase in gain on foreign exchange in US Dollar currency of Rp.56,225,629 thousand or approximately 206.87 compared to 2008.
Comparison between the year ended on 31 December 2008 and the year ended on 31 December 2007 Other charges of the Company decreased by Rp.617,302 thousand or approximately 4.88 from Rp.12,658,279 thousand in 2007
to Rp.12,040,977 thousand in 2008. In 2008, due to the gloal financial crisis and the weakening of the exchange value of Rupiah to Dollar, the Company experienced an increase in loss in exchange value from dollar-denominated loans. In addition, the
Company recorded deferred amortization expenses and tax penalty amounting to Rp.7,453,983 thousand and Rp.6,988,948 thousand, respectively. Such increase in expenses was compensated with an increase in the profit from sale of fixed assets,
which in 2008 was recorded at Rp.41,548,400 thousand, or increasing by Rp.37,950,357 thousand compared to 2007, which increase was primarily caused by the sale of several vessels at a high or premium price.
7. Income before equity in net earnings of associates companies
