Persistence in Facing the Challenges

  Persistence in Facing the Challenges

Kegigihan dalam Menghadapi Tantangan

  

Laporan Tahunan 2014 Annual Report Analisis dan Pembahasan Tanggung Jawab Sosial

Profil Perusahaan Laporan Manajemen Manajemen Tata Kelola Perusahaan Perusahaan

  Cerita Sampul Cover Story

  Baja merupakan material yang kuat dan tangguh dan akan menjadi semakin kuat dan tangguh setelah ditempa berulang-ulang. Tantangan adalah keniscayaan dalam kehidupan dan merupakan proses tempa bagi siapapun yang mengalaminya untuk menjadi semakin kuat dan tangguh. PT Krakatau Steel (Persero) Tbk., telah mengarungi samudera kehidupan yang penuh cobaan dan tantangan selama lebih dari 4 dekade. Alih-alih karam terhempas ombak dan topan, Perseroan tetap tegak dan semakin kokoh dalam posisinya sebagai perusahaan baja terkemuka di Indonesia.

  Pasokan baja dunia yang sangat berlebih telah mengakibatkan penurunan harga secara drastis, dan yang lebih penting lagi telah mengakibatkan membanjirnya produk baja impor dengan harga rendah ke pasar domestik disertai unfair trade practices merupakan tantangan faktor eksternal. Selain itu, kenaikan signifikan dari harga energi dan upah tenaga kerja domestik telah secara langsung memukul daya saing Perseroan.

  Every cloud has a silver lining, di balik tantangan yang bertubi-tubi, terdapat harapan yang membuat optimistis nakhoda dan penumpang kapal Perseroan untuk keluar dari kondisi terburuk yang mungkin terjadi. Harapan tersebut berupa fakta bahwa pertumbuhan permintaan baja nasional justru naik. Indonesia bahkan menjadi negara dengan pertumbuhan permintaan baja terbesar ke-4 di dunia. Fakta lainnya adalah adanya program-program Pemerintah dalam pembangunan infrastruktur nasional secara progresif yang dipastikan akan menyerap produk baja nasional. Selain itu, Perseroan sedang melakukan berbagai program strategis perbaikan kinerja dan pengembangan usaha untuk memperkuat daya saing yang hasilnya akan dapat dicapai segera seiring dengan selesainya program-program tersebut.

  Persistence in facing the challenges, kegigihan dalam menghadapi tantangan, merupakan kunci keberhasilan. Ibarat sebuah baja yang semakin kuat dan tangguh dengan ditempa, Perseroan akan semakin tumbuh dan berkembang dengan kegigihan dalam menghadapi setiap tantangan.

  Steel is a strong and tough material and it will become stronger and tougher after being repeatedly treated and forged. Challenges are inevitable in our life as part of a shaping process to become stronger and tougher. PT Krakatau Steel (Persero) Tbk has sailed the ocean of such dynamic and turbulent business environments for more than 4 decades. Instead of being drowned by waves and hurricanes, the Company remains firm and stronger maintaining its leading position in Indonesia steel industry.

  Externally, there has been global oversupply resulting in not only the significant decline of the world steel price, but also more importantly invasion to domestic market by imported steel with lower price and unfair trade practices. In addition to those, there has been significantly increasing energy price and domestic labor wages which directly jeopardize the Company competitiveness.

  There is a saying ‘Every cloud has a silver lining’ meaning that there is always a strong hope to come out of possible worst conditions despite the relentless challenges. This hope is coming from the the fact that there is an increasing growth of domestic steel demand inline with the economic development of the country. Indonesia is even becoming the 4th highest steel demand growth country in the world. Moreover, the government also has strong commitment to progressively develop national infrastructure that will certainly absorb the domestic steel products. Meanwhile, the Company is currently implementing various strategic improvement and business development programs to strengthen its competitiveness to be achieved simultaneously with the program completion. Persistence in facing the challenges is the key to success. Just like steel that becomes stronger and tougher after being repeatedly treated and forged, the Company will even grow and develop further by having persistence in overcoming relentless challenges.

  2

  Corporate Social Good Corporate Management Discussion Responsibility Governance and Analysis Management Report Company Profile

  Pabrik Besi Spons Direct Reduction Plant

  3

  4 Profil Perusahaan Laporan Manajemen Analisis dan Pembahasan

  37 Laporan Manajemen Management Report Sambutan Komisaris Utama Remark from President Commissioner

  39 Struktur Organisasi Organization Structure

  38 Lembaga dan Profesi Penunjang Pasar Modal Institution and Capital Market Support

  Kronologi Pencatatan Efek Share Listing Chronology

  85 Daftar Isi Table of Contents

  83 Segmen Usaha Rekayasa dan Konstruksi Engineering and Construction Business Segment

  81 Segmen Usaha Real Estate dan Perhotelan Real Estate and Hospitality Business Segment

  79 Segmen Usaha Produk Baja Steel Business Segment

  77 Tinjauan Operasi Per Segmen Usaha Operation Review for Each Business Segment

  74 Rencana dan Kebijakan Strategis 2014 2014 Planning and Strategic Policy

  66 Analisis dan Pembahasan Manajemen Management Discussion and Analysis Tinjauan Ekonomi Makro dan Industri Baja Macro Economics and Steel Industry Review

  58 Profil Direksi Board of Directors Profile

  52 Sambutan Direktur Utama Remark from President Director

  44 Profil Dewan Komisaris Board of Commissioners Profile

  35 Komposisi Kepemilikan dan Informasi Saham Ownership Composition and Share Information

  Manajemen Tata Kelola Perusahaan Tanggung Jawab Sosial

  34 Grup, Anak Perusahaan dan Entitas Asosiasi Group, Subsidiaries, and Associated Entities

  33 Filosofi Lambang Perusahaan Philosophy of Company Logo

  28 Visi, Misi & Nilai-nilai Perusahaan Company Vision, Mission & Values

  26 Tonggak Sejarah Milestone

  24 Sekilas tentang Krakatau Steel Brief Overview of Krakatau Steel

  21 Profil Perusahaan Company Profile Informasi Umum Perusahaan Company General Information

  16 Penghargaan dan Sertifikasi 2014 2014 Awards and Certifications

  14 Peristiwa Penting 2014 2014 Event Highlights

  12 Ikhtisar Saham KRAS KRAS Share Highlights

  10 Ikhtisar Keuangan Financial Highlights

  07 Ikhtisar Operasional Operational Highlights

  06 Perkembangan Proyek Strategis Progress of Strategic Projects

  Perusahaan Cerita Sampul Cover Story Ringkasan Manajemen Management Summary

  40 Corporate Social Responsibility

  Good Corporate Governance

  137 Assessment GCG Perusahaan Assessment of Company’s GCG 141 Organ Tata Kelola Perusahaan Element of Corporate Governance

  116 Rencana dan Kebijakan Strategis 2015 Planning and Strategic Policies for 2015

  108 Teknologi Informasi Information Technology

  92 Pengelolaan Modal Insani Human Capital Management

  87 Tinjauan Keuangan Financial Review

  87 Segmen Usaha Jasa Lainnya Others Business Segment

  204 Segmen Usaha Jasa Pengelolaan Pelabuhan Port Services Business Segment

  195 Laporan Kepatuhan Statement of Compliance

  188 Manajemen Risiko Risk Management

  186 Internal Audit Internal Audit

  143 Sekretaris Perusahaan Corporate Secretary

  130 Roadmap dan Pengembangan Good Krakatau Steel Governance Roadmap and Development of Good Krakatau Steel Governance

  Management Discussion and Analysis Management Report Company Profile

  243 Tata Kelola Perusahaan Good Corporate Governance Dasar-dasar Tata Kelola Perusahaan The Principle of Corporate Governance

  241 Tata Kelola Berkelanjutan Sustainable Good Governance

  239 Komitmen terhadap Produk dan Konsumen Commitment to Product and Costumer

  236 Insan Krakatau Steel Human Capital of Krakatau Steel

  232 Kesehatan dan Keselamatan Kerja Occupational Health and Safety

  227 Tanggung Jawab Lingkungan Community Responsibilities

  226 Kemitraan dan Bina Lingkungan Partnership and Community Development

  222 Krakatau Steel dan Pertumbuhan Berkelanjutan Partnership for Sustainable Growth

  248 Tanggung Jawab Sosial Perseroan Corporate Social Responsibility Pondasi Dasar Perusahaan untuk Pertumbuhan yang Berkelanjutan Corporate Fundamentals for Sustainable Growth

  244 Laporan Keuangan Financial Statement

  5 Surat Pernyataan atas Laporan Tahunan 2014 Statement for The 2014 Annual Report

  118 Rencana Jangka Panjang Long Term Development Plan 124

  

Analisis dan Pembahasan

Manajemen Tata Kelola Perusahaan

  Tanggung Jawab Sosial Perusahaan

  Ringkasan Manajemen Management Summary

RINGKASAN MANAJEMEN

MANAGEMENT SUMMARY

  Tahun 2014 adalah tahun penuh tantangan bagi pelaku industri baja termasuk Perseroan. Meskipun terdapat pertumbuhan pasar baja domestik, namun harga jual anjlok karena membanjirnya produk baja impor dengan harga yang lebih rendah dari harga pasar. Selain itu, industri baja domestik juga menghadapi tantangan akibat naiknya harga listrik dan gas alam serta upah tenaga kerja.

  Walaupun dalam kondisi penuh tantangan, namun Perseroan tetap mampu menjalankan roda bisnisnya dengan melakukan upaya-upaya strategis meliputi strategi pembelian produk setengah jadi, mengoptimumkan produksi hilir khususnya untuk produk baja lembaran, meningkatkan produktivitas dan kehandalan pabrik, melakukan aggressive cost cutting, restrukturisasi organisasi dan optimalisasi tenaga kerja, pendayagunaan dan optimalisasi aset tidak produktif serta upaya non-operasional lainnya. Strategi ini ditempuh untuk mendapatkan biaya produksi yang lebih kompetitif dan mempertahankan pangsa pasar.   Pada tahun 2014 ini, Perseroan membukukan volume penjualan produk baja sebesar 2,32 juta ton, turun 2,52% dibanding tahun sebelumnya sebesar 2,38 juta ton yang terutama disebabkan membanjirnya produk baja impor. Lebih lanjut, Perseroan mencatatkan nilai pendapatan sebesar USD1.868,85 juta, turun sebesar 10,34% dibanding tahun sebelumnya sebesar USD2.084,45 juta. Penurunan ini disebabkan oleh turunnya harga jual sebagai dampak dari turunnya harga baja dunia. Secara keseluruhan, Perseroan mencatat kerugian yang diatribusikan kepada pemilik entitas induk sebesar USD149,82 juta. Saat ini, Perseroan telah dan sedang melakukan pengembangan beberapa proyek strategis dengan nilai investasi tahun 2015 sebesar USD551,45 juta diantaranya proyek Blast Furnace, proyek Pabrik Baja Lembaran Panas #2, pembangunan fasilitas hilir Pabrik Baja Lapis Galvanis untuk otomotif, serta Pabrik Baja Tulangan dan Profil. Perseroan mengharapkan upaya strategis ini akan memperbaiki kinerja Perseroan dalam 2–3 tahun ke depan. Seiring dengan program pembangunan infrastruktur nasional secara progresif, kebutuhan baja nasional akan terus naik dari tahun ke tahun dengan tingkat pertumbuhan lebih dari 7%, sehingga memberikan optimisme bagi dunia usaha khususnya industri baja.

  Year 2014 is the challenging year for steel industry including the Company. Eventhough there is growth in the domestic steel consumption, steel price declines sharply due to invasion of imported steel products whose price is below market price. In addition, the domestic, the domestic steel industry faces challenges such as increasing electricity and natural gas price as well as labor wage.

  Eventhough the condition is full of challenges, the Company sustains its business by carrying out various strategic actions comprising procuring semi- finished product strategy and optimizing downstream production, especially for flat products, enhancing productivity and reliability of production facilities, applying aggressive cost cutting, restructuring organization and optimizing human resources, utilizing and optimizing non-productive assets as well as other non-operational action. The objective of the actions are to obtain more competitive production cost while maintaining the market share.

  This year, the Company booked sales volume in the amount of 2.32 million ton which is down 2.52% compared to previous year amount of 2.38 million ton mainly caused by invasion of imported steel products. Furthermore, the Company booked revenue in the amount of USD1,868.85 million which is down 10.34% compared to previous year amount of USD2,084.45 million. The decline of the revenue is as a result of falling down of sales price because of the drop of international steel price. In total, the Company recorded loss attributable to owners of the parent entity in the amount of USD149.82 million.

  Currently, the Company has been conducting several strategic projects with the 2015 investment value of USD551.45 million such as Blast Furnace project, Hot Strip Mill #2 (HSM #2) project, Galvanizing and Annealing Processing Line (GAPL) project, and Bar and Section Mill project. The Company is looking forward that all its strategic actions will improve performances of the Company in the next 2-3 years.

  Inline with the progressive national program of infrastructure development, the national steel demand will continuously increase from year to year at the rate of more than 7% and hence provide the optimism to the national industry especially for steel business.

6 Profil Perusahaan Laporan Manajemen

• – Posco Energy
• - PT Krakatau Bandar Samudera

  Meningkatkan kapasitas pasokan air bersih dari 1.200 liter/detik menjadi 1.800 liter/detik Increase water supply capacity from 1,200 liters/sec to 1,800 liters/sec

  2013 100% Selesai dan sudah beroperasi Completed and has been operating

  4 PT Krakatau Posco Chemtech Calcination, Perusahaan Patungan PT Krakatau Industrial Estate Cilegon – Posco Chemtech PT Krakatau Posco Chemtech Calcination, Joint Venture Company between PT Krakatau Industrial Estate Cilegon and Posco Chemtech

  Pembangunan pabrik kapur dengan kapasitas 2 x 330 ton per hari Construction of Lime calcination plant with capacity of 2 x 330 tonnes per day

  Memenuhi kebutuhan kapur bakar dan dolomite untuk PT Krakatau Posco To fulfill the need of burnt lime and dolomite of PT Krakatau Posco

  2013 100% Selesai dan sudah beroperasi Completed and has been operating

  5 Pengembangan Jaringan Pipa Distribusi – PT Krakatau Tirta Industri Development of Distribution Pipeline - PT Krakatau Tirta Industry

  Pemasangan jaringan pipa distribusi dan sarana pendukungnya Installation of distribution pipelines and supporting facilities

  2013 100% Selesai dan sudah beroperasi Completed and has been operating

  Pembangunan Pembangkit Listrik bahan Bakar Off Gas berkapasitas 200 MW Construction of Power Plant using fuel Off-Gas with capacity 200 MW

  6 PT Indo Japan Steel Center, Perusahaan Patungan PTKS – Nippon Steel Trading PT Indo Japan Steel Center, Joint Venture Company between PTKS and Nippon Steel Trading

  Pembangunan fasilitas coil center dan distribution channel dengan kapasitas 120.000 ton per tahun Construction of coil center facilities and distribution channel with capacity of 120,000 tonnes per year

  Merupakan distribution channel bagi produk HRC dan CRC PTKS untuk industri otomotif A distribution channel for products of HRC and CRC of PTKS for the automotive industry

  2013 100% Selesai dan sudah beroperasi Completed and has been operating

  7 Peningkatan Kapasitas Pelabuhan – PT Krakatau Bandar Samudera Increase Port Capacity

  Pembangunan Terminal untuk melayani kapal berbobot 200.000 DWT (Dermaga 6) Construction of new jetty to serve ships weighing 200,000 DWT (Jetty 6)

  Meningkatan kapasitas total pelabuhan dari 10 juta ton menjadi 25 juta ton per tahun, Pembangunan Dermaga 6 untuk melayani operasional PT Krakatau Posco dan PTKS To increase the port total capacity from 10 million ton to 25 million ton per year, Construction of Jetty 6 to serve operational of PT Krakatau Posco and PTKS

  Memenuhi kebutuhan listrik PT Krakatau Posco To fulfill the electricity demands of PT Krakatau Posco

  PT Krakatau Posco Energy, Joint Venture Company between PT Krakatau Daya Listrik and Posco Energy

  Corporate Social Responsibility

  Progress % Keterangan

  Good Corporate Governance

  

Management Discussion

and Analysis Management Report Company Profile

  7 Perkembangan Proyek Strategis Progress of Strategic Projects

  No. Proyek Strategis Strategic Project

  Deskripsi Proyek Project Description

  Tujuan Proyek Project Goal

  Target Selesai Target of Completion

  Remarks

  3 PT Krakatau Posco Energy, Perusahaan Patungan PT Krakatau Daya Listrik

  1 PT Meratus Jaya Iron & Steel, Perusahaan Patungan PTKS – PT Antam PT Meratus Jaya Iron & Steel, Joint Venture Company between PTKS and PT Antam

  Pembangunan Pabrik Rotary Kiln berkapasitas 315.000 ton besi spons per tahun dan Power Plant berkapasitas 2x14 MW Construction of Rotary Kiln Plant with capacity of 315,000 tonnes of sponge iron per year and Power Plant with capacity of 2x14 MW

  Mendayagunakan bahan baku lokal untuk memenuhi kebutuhan Besi Spons PTKS dan menghasilkan listrik untuk kebutuhan sendiri dan masyarakat/industri Kalimantan Selatan To utilize local raw materials to meet PTKS’s sponge iron demand and generate electricity for its own needs and community/ industry at South Kalimantan

  2013 100% Selesai dan sudah beroperasi Completed and has been operating

  2 PT Krakatau Posco, Perusahaan Patungan PTKS – Posco PT Krakatau Posco, Joint Venture Company between PTKS and Posco

  Integrated Steel Mill, Tahap I: 3 juta ton (Slab 1,5 juta + Plate 1,5 juta) per tahun Integrated Steel Mill, Phase I: 3 Million tonnes (Slab 1.5 Million + Plate 1.5 Million) per year

  Memenuhi kebutuhan pasar baja domestik khususnya untuk galangan kapal, konstruksi, manufaktur serta slab untuk bahan baku HSM – PTKS To fulfill the domestic steel market demand, especially for shipbuilding, construction, manufacturing and slab for raw materials of HSM – PTKS

  2013 100% Selesai dan sudah beroperasi Completed and has been operating

  2014 100% Selesai dan sudah beroperasi Completed and has been operating

• Tahap pengujian daya guna
• Sudah beroperasi menghasilkan listrik
• Performance test
• Has been operating

  September 2015

  Mengolah by product PT Krakatau Posco: coal tar sebesar 55 ribu ton per tahun dan light oil sebesar 18 ribu ton per tahun Processing by-product of PT Krakatau Posco: coal tar by 55 thousand tonnes per year and light oil by 18 thousand tonnes per year

  2014 100% Selesai dan sudah beroperasi Completed and has been operating

  11 Pembangunan Blast Furnace (BF) - PTKS Construction of Blast Furnace (BF) - PTKS

  Pembangunan Blast Furnace Complex (Sintering Plant, Coke Oven Plant, Blast Furnace dan Hot Metal Treatment Plant) berkapasitas 1,2 juta ton per tahun Construction of Blast Furnace Complex (Sintering Plant, Coke Oven Plant, Blast Furnace and Hot Metal Treatment Plant) with capacity of 1.2 million tonnes per year

  Menurunkan biaya produksi slab melalui penurunan biaya bahan baku dan konsumsi listrik serta menciptakan keseimbangan kapasitas produksi hulu dan hilir Decrease cost of slab production through the reduction in raw material costs and electricity consumption as well as creating a balance of production capacity upstream and downstream

  2015 79.1%

  12 Revitalisasi Pabrik Besi Spons– PTKS Iron making Plant Revitalization - PTKS

  10 PT Krakatau Poschem Dongsuh Chemical, Perusahaan Patungan PT Krakatau Industrial Estate Cilegon – Dongsuh – Posco Chemtech PT Krakatau Poschem Dongsuh Chemical, Joint Venture Company between PT Krakatau Industrial Estate Cilegon, Dongsuh, and Posco Chemtech

  Perubahan teknologi proses dari reformer menjadi zero reformer serta modernisasi instrumen dan sistem kontrol Changes of the process technology from reformer to zero reformer and modernization of instruments and control systems

  Memperbaiki kinerja dengan adopsi teknologi terbaru untuk meningkatkan kapasitas produksi dari 1,50 juta ton menjadi 1,74 juta ton per tahun, menurunkan konsumsi gas, meningkatkan kehandalan peralatan, kualitas produk dan kualitas lingkungan Improve performance with the adoption of the latest technology to increase the production capacity from 1.50 million tonnes to 1.74 million tonnes per year, decrease gas consumption, improve equipment reliability, product quality and

environmental quality

  2015 99,1% Penyelesaian Reviitalisasi PBS (DR Plant) dengan target triwulan-3 2015 disesuaikan dengan strategi operasi dan penyelesaian proyek BF Target DR Plant revitalization completion in quarter-3 Year 2015 following operation strategy and project BF completion

  13 PT Wijaya Karya Krakatau Beton, Perusahaan Patungan PT Krakatau Engineering – PT Wijaya Karya - PT Wika Beton PT Wijaya Karya Krakatau Beton, Joint Venture Company between PT Krakatau Engineering, PT Wijaya Karya, and PT Wika Beton

  Pembangunan pabrik tiang pancang kapasitas 170.000 ton per hari Construction of the concrete pile plant with capacity of 170,000 tonnes per day

  Memenuhi kebutuhan tiang pancang untuk pondasi bangunan pabrik,

mesin dan gedung

To fulfill the demand of piles for the foundation of the factory buildings, machinery and buildings

  2015 Tahap perizinan Permit process stage

  Pembangunan pabrik pengolah coal tar dengan kapasitas 73 ribu ton per tahun Construction of coal tar processing plant with capacity of 73 thousand tonnes per year

  2014 100% Selesai dan sudah beroperasi Completed and has been operating

  8 Pembangunan Pembangkit Listrik Tenaga Gas & Uap – PT Krakatau Daya Listrik Construction of Gas and Steam Power Plant - PT Krakatau Daya Listrik

  Meningkatkan kapasitas pabrik dari 118.000 menjadi 233.000 ton per tahun dan memenuhi permintaan pasar serta meningkatkan keuntungan perusahaan Increase the plant capacity from 118,000 to 233,000 tonnes per year and fulfill the market demand and increase company profit

  No. Proyek Strategis Strategic Project

  Deskripsi Proyek Project Description

  Tujuan Proyek Project Goal

  Target Selesai Target of Completion

  Progress % Keterangan

  Remarks

  Pembangunan Pembangkit Listrik Tenaga Gas & Uap (Combine Cycle Power Plant) kapasitas 120 MW Construction of Gas and Steam Power Plant (Combine Cycle Power Plant) with capacity of 120 MW

  Analisis dan Pembahasan Manajemen Tata Kelola Perusahaan

  Meningkatkan kapasitas produksi listrik, menurunkan biaya produksi dan meningkatkan kehandalan peralatan To increase electricity production capacity, reduce production cost and improve equipment reliability

  2014 100%

  stage

  to produce electricity

  9 Pembangunan Pabrik Pipa Electric Resistance Welding #2 – PT KHI Pipe Industries Construction of Plant of Pipe Electric Resistance Welding #2 – PT KHI Pipe Industries

  Pembangunan fasilitas produksi pipa Electric Resistance Welding #2 kapasitas 115.000 ton per tahun Construction of pipe production facility of Electric Resistance Welding #2 with capacity of 115,000 tonnes per year

  Tanggung Jawab Sosial Perusahaan

• Tahap konstruksi
• First blow in September 2015
• Construction stage
• First blow in

8 Profil Perusahaan Laporan Manajemen

• – PT Aneka Gas Industri – Bapelkes

  been signed

  Pembangunan pabrik kapur dengan kapasitas 3x150 ton per hari Construction of lime calcination plant with capacity of 3x150 tonnes per day

  

Memenuhi pasokan kapur bakar

dan dolomit untuk Blast Furnace PT Krakatau Steel To fulfill the needs of burnt lime and dolomite lime for Blast Furnace PT Krakatau Steel

  2016 Tahap proses pendanaan Funding process stage

  17 Pembangunan Hot Strip Mill #2 – PTKS Construction of Hot Strip Mill #2 – PTKS

  Pembangunan Hot Strip Mill baru dengan kapasitas 1,5 juta ton per tahun Construction of the new Hot Strip Mill with capacity of 1.5 million tonnes per year

  Memenuhi permintaan pasar baja

domestik dan mempertahankan

posisi Perseroan sebagai pemimpin pasar baja domestik; Meningkatkan fleksibilitas operasi To fulfill the demand of domestic steel market and maintain PTKS position as the leader of the domestic steel market; Improve operational flexibility

  2017

  commitment has been obtained

  16 PT Krakatau Golden Lime, Perusahaan Patungan PT Krakatau Industrial Estate Cilegon – Golden Lime Inc.

  18 PT Krakatau Osaka Steel, Perusahaan Patungan PTKS – Osaka Steel Corporation PT Krakatau Osaka Steel, Joint Venture Company between PTKS and Osaka Steel Corporation

  Pembangunan pabrik baja tulangan dan profil berkapasitas 500.000 ton per tahun Construction of bar and section steel plant with capacity of 500,000 tonnes per year

  Memproduksi produk baja tulangan dan profil bagi pasar konstruksi dan otomotif, meningkatkan distribusi dan penjualan produk PTKS

Producing bar and section steel

products for the construction and

automotive markets, improving

the distribution and sale of PTKS

products

  2017 Tahap proses tender dan pendanaan Tender and funding process stage

  19 PT Krakatau Nippon Steel Sumikin, Perusahaan Patungan PTKS – Nippon Steel Sumitomo Metal Corporation PT Krakatau Nippon Steel Sumikin, Joint Venture Company between PTKS and Nippon Steel Sumitomo Metal Corporation

  Pembangunan pabrik galvanizing and annealing processing line kapasitas 500.000 ton per tahun Construction of galvanizing and annealing processing line with capacity of 500,000 tonnes per year

  Memproduksi produk baja bagi pasar

otomotif, meningkatkan distribusi

dan penjualan produk PTKS dan

meningkatkan pendapatan

Producing steel products for the

automotive market, improving

the distribution and sale of PTKS

products and increase revenue

  PT Krakatau Golden Lime, Joint Venture Company between PT Krakatau Industrial Estate Cilegon and Golden Lime Inc.

  2016 8,8% Proses tender peralatan utama The tender process for major equipment

  2017 Tahap proses tender dan pendanaan Tender and funding process stage

  Progress % Keterangan

  Corporate Social Responsibility

  Good Corporate Governance

  

Management Discussion

and Analysis Management Report Company Profile

  9 No. Proyek Strategis Strategic Project

  Deskripsi Proyek Project Description

  Tujuan Proyek Project Goal

  Target Selesai Target of Completion

  Remarks

  

Mengolah granulated slag (by-

product Blast Furnace) menjadi slag powder sebagai bahan baku semen

Processing granulated slag (by-

product of Blast Furnace) to slag

powder as raw material of cement

  14 PT Krakatau Samator, Perusahaan patungan PT Krakatau Engineering

  PT Krakatau Samator, Joint Venture Company between PT Krakatau Engineering, PT Aneka Gas Industri, and Bapelkes

  Pembangunan pabrik gas industri dengan kapasitas 63.500 Normal Cubic Meter per Hour Construction of industrial gas plants with capacity of 63,500 Normal Cubic Meters per Hour

  Memenuhi kebutuhan gas industri

untuk pabrik Blast Furnace dan

kawasan industri sekitar To fulfill the needs of industry gas for the Blast Furnace and industrial estate

  2016 Tahap proses pendanaan Funding process stage

  15 PT Krakatau Semen Indonesia, Perusahaan Patungan PTKS – PT Semen Indonesia PT Krakatau Semen Indonesia, Joint Venture Company between PTKS and PT Semen Indonesia

  Pembangunan pabrik pengolahan granulated slag menjadi slag powder sebagai bahan baku semen, kapasitas 750.000 ton per tahun Construction of granulated slag processing plant to slag powder as raw material of cement, capacity of 750,000 tonnes per year

• Kontrak sudah ditandatangani
• Komitmen Lender sudah diperoleh
• Tahap pematangan lahan
• The contract has
• the lender
• Land clearing stage

Analisis dan Pembahasan Tanggung Jawab Sosial

Profil Perusahaan Laporan Manajemen Manajemen Tata Kelola Perusahaan Perusahaan

  Ikhtisar Operasional Operational Highlights

TOTAL PENJUALAN

  (dalam ribuan dolar Amerika Serikat) (in thousand US$)

  KETERANGAN 2014 2013 2012 2011 2010 DESCRIPTION Penjualan Domestik Domestic Sales Baja Lembaran Panas 797.687 74 3.325 868.799 872.108 707.242 Hot Rolled Coil Baja Lembaran Dingin 399.497 459.897 447.191 403.324 377.771 Cold Rolled Coil Baja Batang Kawat 111.889 149.145 172.758 176.391 133.839 Wire Rod Baja Tulangan 126.777 165.785 145.780 137.139 114.995 Steel Bar Baja Profil 29.379 61.238 92.464 88.798 73.425 Steel Section Pipa Baja 54.951 95.244 82.704 84.915 43.338 Steel Pipe Lain-lain 33.340 41.613 42.544 16.063 5.988 Others Sub Total 1.553.520 1.716.247 1.852.240 1.778.738 1.456.598 Penjualan Ekspor Export Sales Baja Lembaran Panas 49.000 28.961 13.647 38.643 22.770 Hot Rolled Coil Pipa Baja 1.472 177 8.991 16.335 18.907 Steel Pipe Lain-lain 3.515 5.683 4.894 14.907 8.753 Others Sub Total 53.986 34.822 27.532 69.885 50.431 Total Penjualan Baja 1.607.506 1.751.069 1.879.771 1.848.623 1.507.029 Total Steel Sales Real Estate & Perhotelan 20.652 29.835 66.816 28.864 21.185 Real Estate & Hotels Rekayasa & Konstruksi 117.057 204.588 252.507 77.948 51.495 Engineerings & Construction Jasa Pengelolaan Pelabuhan 52.857 34.765 35.517 29.729 22.840 Port Service Provider Jasa Lainnya 70.773 64.191 52.834 47.688 38.787 Other Services Total Penjualan Jasa 261.339 333.379 407.673 184.229 134.308 Total of Sales Total Penjualan 1.868.845 2.084.448 2.287.445 2.032.852 1.641.337 Total Sales

VOLUME PENJUALAN PRODUK BAJA SALES VOLUME OF STEEL PRODUCT

  (dalam ton) (in tonnes) KETERANGAN 2014 2013 2012 2011 2010 DESCRIPTION Volume penjualan produk baja 2.316.121 2.375.957 2.307.870 2.072.322 1.914.360 Sales volume of Steel Product

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  Corporate Social Good Corporate Management Discussion

Responsibility Governance and Analysis Management Report Company Profile

  VOLUME PRODUKSI

PRODUCTION VOLUME

  (dalam ton, kecuali dinyatakan lain) (In Tonnes, otherwise stated)

  KETERANGAN Satuan 2014 2013 2012 2011 2010 DESCRIPTION (Unit)

  BAJA - PRODUK JADI STEEL - FINISHED PRODUCT Baja Lembaran Panas

  Ton 1.870.070 1.821.025 1.835.968 1.760.851 1.503.898 Hot Rolled Coil Baja Lembaran Dingin

  Ton 518.171 567.629 535.724 414.157 415.096 Cold Rolled Coil Batang Kawat

  Ton 183.788 220.269 231.385 238.443 201.337 Wire Rod Baja Tulangan

  Ton 118.989 156.974 142.791 120.690 113.913 Steel Bar Baja Profil

  Ton 39.838 67.178 91.110 81.447 75.634 Steel Section Pipa Baja

  Ton 56.169 84.107 67.404 75.325 56.165 Steel Pipe BAJA - PRODUK SETENGAH JADI STEEL - SEMI FINISHED PRODUCT Slab Baja

  Ton 79.176 719.921 699.510 1.014.165 1.084.406 Steel Slab Billet Baja

  Ton 165.581 225.080 265.142 389.451 289.019 Steel Billet

BESI SPONS

  Ton 116.796 756.739 522.135 1.228,312 1.273.906 SPONGE IRON NON BAJA NON STEEL Listrik

  MWH 564.596 600.920 775.957 704.057 794.124 Electricity Air Water

  000.M3 41.379 35.817 32.416 34.811 35.088

  11 Analisis dan Pembahasan Tanggung Jawab Sosial

Profil Perusahaan Laporan Manajemen Manajemen Tata Kelola Perusahaan Perusahaan

  Ikhtisar Keuangan Financial Highlights

  LAPORAN LABA /(RUGI) KOMPREHENSIF CONSOLIDATED STATEMENT OF KONSOLIDASIAN

COMPREHENSIVE INCOME

  (dalam ribuan dolar Amerika Serikat) (in thousand US$)

  KETERANGAN 2014 2013 2012 2011 2010 DESCRIPTION Pendapatan Neto 1.868.845 2.084.448 2.287.445 2.032.852 1.641.337 Net Revenues Laba (Rugi) Kotor 41.142 95.620 122.420 158.124 281.437 Gross Profit (Loss) Laba (Rugi) Operasi (70.444) (1.067) 15.930 114.232 147.132 Operating Profit (Loss) Laba (Rugi) Sebelum Beban (Manfaat) Pajak

  (182.853) (14.747) (15.471) 162.008 172.826 Profit (Loss) Before Tax Expense (Benefit) Beban/(Manfaat) Pajak (25.961) (1.147) 4.089 10.671 (32.894) Tax Expense (Benefit) Laba (Rugi) Tahun Berjalan (156.892) (13.600) (19.560) 151.337 139.933 Profit (Loss) For The Year Pendapatan Komprehensif Lain

• (2.551) (50.318) (10.220) (1.746)

  Other Comprehensive Income Total Laba (Rugi) Komprehensif Tahun Berjalan

  (159.443) (63.918) (29.780) 149.591 139.933 Total Comprehensive Profit (Loss) For The Year Laba (Rugi) Tahun Berjalan yang Dapat Distribusikan: Profit (Loss) for the year attributable to:

  Kepada Pemilik Entitas Induk (149.815) (13.986) (20.435) 151.201 140.353 Owner of The Parent Entity Kepada Kepentingan Non

Pengendali (7.077) 386 875 136 (421)

Non Controlling Interest

  Total (156.892) (13.600) (19.560) 151.337 139.933 Laba (Rugi) Komprehensif Tahun Berjalan yang Dapat Diatribusikan: Comprehensive Profit (Loss) for the year attributable to:

  Kepada Pemilik Entitas Induk (152.361) (64.247) (30.640) 149.458 139.933 Owner of The Parent Entity Kepada Kepentingan Non Pengendali (7.082)

• 329 860 133

  Non Controlling Interest Total (159.443) (63.918) (29.780) 149.591 139.933 Laba (Rugi) Per Saham Dasar yang dapat Diatribusikan: Basic Earning (Loss) per Share and Dilluted Attributable to: Kepada Pemilik Entitas Induk (dalam Dolar Penuh)

  (0,0095) (0.0009) (0.0012) 0.0096 0.0089 Owner of the Parent Entity (in dollars) Jumlah Saham Beredar (dalam Juta lembar) 15.775 15.775 15.775 15.775 15.775 Number of Share (in Million of share)

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  Corporate Social Responsibility

  Good Corporate Governance

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

  (in thousand US$)

  % 65,68 55,79 56,44 51,19 46,78

  % 191,35 126,18 129,57 104,86 87,91 Liabilitas terhadap Jumlah Aset Liabilities to Assets

  % 74,90 96,23 112,47 146,41 176,76 Liabilitas terhadap Ekuitas Liabilities to Equity

  % (6,14) (2,69) (1,16) 6,24 7,23 Rasio lancar Current Ratio

  % (17,88) (6,08) (2,67) 12,78 13,59 Laba bersih terhadap aset Net Income to Assets

  % (2,71) (0,04) 0,62 4,76 7,60 Laba bersih terhadap ekuitas Net Income to Equity

  % (7,90) (0,10) 1,43 9,76 14,29 Laba usaha terhadap Jumlah Aset Income from Operations to Assets

  % (3,80) (0,05) 0,70 5,62 8,96 Laba usaha terhadap Ekuitas Income from Operations to Equity

  Laba usaha terhadap Penjualan Income from Operations to Sales

  KETERANGAN DESCRIPTION 2014 2013 2012 2011 2010

  (354.672) (42.928) 155.219 471.068 591.664

  2.598.423 2.379.504 2.561.947 2.398.079 1.935.004 Modal Kerja Bersih Net Working Capital

  13.103 19.973 19.920 19.060 13.793

Ekuitas, Neto Equity, Net 891.868 1.052.053 1 .115.986 1.170.596 1.029.775

Total Liabilitas dan Ekuitas Total Liabilities and Equity

  878.765 1.032.080 1.096.065 1.151.536 1.015.982 Kepada Kepentingan Non pengendali Non-Controlling Interest

  Kepada Pemilik Entitas Induk Owner of the Parent Entity

  1.706.555 1.327.451 1.445.961 1.227.483 905.229 Ekuitas yang dapat Diatribusikan Attributable equity to:

  293.260 189.304 201.526 212.434 134.481 Total Liabilitas Total Liabilities

  1.413.295 1.138.147 1.244.435 1.015.049 770.748 Liabilitas Jangka Panjang Non-Current Liabilities

  2.598.423 2.379.504 2.561.947 2.398.079 1.935.004 Liabilitas Jangka Pendek Current Liabilities

  1.326.705 1.028.868 917.894 728.886 538.317 Total Aset Total Assets

  213.095 255.417 244.399 183.076 34.276 Aset Tidak Lancar Lainnya Non-Current Assets

  1.058.623 1.095.219 1.399.654 1.486.117 1.362.412 Penyertaan/investasi Investments

  Aset Lancar Current Assets

  KETERANGAN DESCRIPTION 2014 2013 2012 2011 2010

RASIO-RASIO KEUANGAN

  13 LAPORAN POSISI KEUANGAN KONSOLIDASIAN (dalam ribuan dolar Amerika Serikat)

  Management Discussion and Analysis Management Report Company Profile

FINANCIAL RATIO

  Nilai Price

  

Analisis dan Pembahasan

Manajemen Tata Kelola Perusahaan

  2013 Triwulan I/Q1 700 620 660 766,10 503.383,57 24.403 Triwulan II/Q2 660 445 475 533,32 304.361,69 32.194 Triwulan III/Q3 560 430 510 372,66 183.959,03 21.250 Triwulan IV/Q4 590 475 495 221,49 116.696,98 10.942 2014 Triwulan I/Q1 580 470 515 263,76 132.682,57 18.464 Triwulan II/Q2 530 435 443 104,51 51.482,48 14.302 Triwulan III/Q3 535 435 490 178,07 87.059,15 24.734 Triwulan IV/Q4 515 449 485 287,93 137.041,64 25.968

  (Rp juta) Rp million x

  (juta lembar) million share

  Penutupan Closing (Rp) (Rp) (Rp)

  Terendah Low

  Tertinggi High

  Frekuensi Frequency

  Harga Saham Share Price Volume Volume

  KRAS Share Performance on The Indonesia Stock Exchange Remarks:

  Periode Period

  

Closing Price (Rp) Volume (Share)

Volume (Share) Closing Price (Rp) Kinerja Saham KRAS di Bursa Efek Indonesia

  10.000.000 20.000.000 30.000.000 40.000.000 50.000.000 60.000.000 70.000.000 80.000.000 90.000.000

  100 200 300 400 500 600 700 800

  Tren Harga Saham KRAS di Bursa Efek Indonesia Trend of KRAS Share Price on The Indonesia Stock Exchange

  Ikhtisar Saham KRAS KRAS Share Highlights

  Tanggung Jawab Sosial Perusahaan

  Keterangan:

• Jumlah saham beredar sebanyak 15.775.000.000 lembar saham.
• Number of outstanding share 15.775.000.000 shares.

14 Profil Perusahaan Laporan Manajemen

  Corporate Social Good Corporate Management Discussion

Responsibility Governance and Analysis Management Report Company Profile

• Tidak terjadi aksi pemecahan saham (stock split), • There is no stock split, reverse stock, dividen stock, penggabungan saham (reverse stock), dividen bonus stock, and the declining of par value of stock saham, saham bonus, dan penurunan nilai nominal in the last 2 years. saham dalam dua tahun terakhir.
• Tidak terjadi penghentian sementara perdagangan • There is no suspend of company share trade in the saham perusahaan dalam 2 tahun terakhir. last 2 years.

  Kapitalisasi Pasar KRAS KRAS Market Capitalization

  Harga Penutupan Kapitalisasi Pasar Akhir Periode Jumlah Saham Beredar Closing Price Market Capitalization End of Period No. of Outstanding Shares

  (Rp) (Rp. juta/million) 2013 Triwulan I/Q1 15.775.000.000 660 10.411.500 Triwulan II/Q2 15.775.000.000 475 7.493.125 Triwulan III/Q3 15.775.000.000 510 8.045.250 Triwulan IV/Q4 15.775.000.000 495 7.808.625 2014 Triwulan I/Q1 15.775.000.000 515 8.124.125 Triwulan II/Q2 15.775.000.000 443 6.988.325 Triwulan III/Q3 15.775.000.000 490 7.729.750 15.775.000.000 485 7.650.875 Triwulan IV/Q4

  15

  16 Profil Perusahaan Laporan Manajemen

Analisis dan Pembahasan

  Penandatanganan Nota Kesepahaman antara PT Krakatau Daya Listrik dengan SAEACO Indonesia terkait kerjasama bidang perawatan, alokasi dan utilitas bidang perlengkapan, fasilitas workshop, machinery, peralatan khusus dan peralatan penunjang.

  June 4 Inauguration of Limestone Crushing Plant as a joint venture company between PT Krakatau National Resources and PT Istana Salema Baraka. This plant will support Burnt Lime for PT Krakatau Steel (Persero) Tbk.

  May 27 Ground Breaking of PT Krakatau Golden Lime, a joint venture company between PT Krakatau Industrial Estate Cilegon and Golden Lime Ltd, Thailand. This Burnt Lime company has 450,000 tonnes capacity to support PT Krakatau Steel (Persero) Tbk. Blast Furnace production.

  May 16 The Signing of Memorandum of Understanding between PT Krakatau Daya Listrik and SAEACO Indonesia for partnership on maintenance, allocation and utilization of tools, workshop facilities, machineries, special and supporting equipments.

  April 21 The Signing of Memorandum of Understanding between PT Meratus Jaya Iron & Steel (“PT MJIS”) and PT Purna Sentana Baja for procurement and sale of products and by products of PT MJIS.

  March 5 PT Krakatau Steel (Persero) Tbk. implements “PKBL Award” program as appreciation to the inspirational figures and business partners with positive and inspiring involvement to the social community.

  February 19 First phase of BUMN Bersih Program, in which PT Krakatau Steel (Persero) Tbk. is involved in, and creating KS Bersih Program.

  February 10 The Signing of Memorandum of Understanding between PT Krakatau Steel (Persero) Tbk. and PT. Pelni (Persero) for the optimalization of company resources.

  January 1 SAP ERP Phase II Go-Live at PT KHI Pipe Industries. February 7 Contract signing on First Stage of RU II Dumai Open Access Project between PT Krakatau Engineering (PT KE) and PT Pertamina (Persero).

  Peresmian Limestone Crushing Plant sebagai bentuk kerjasama PT Krakatau National Resources dengan PT Istana Salema Baraka. Pabrik ini sebagai pendukung produksi Kapur Bakar untuk proses produksi Blast Furnace PT Krakatau Steel (Persero) Tbk.

  4 Juni

  Peletakan Batu Pertama (Ground Breaking) PT Krakatau Golden Lime yang merupakan perusahaan patungan antara PT Krakatau Industrial Estate Cilegon dengan Golden Lime Ltd dari Thailand. Pabrik Kapur Bakar ini berkapasitas 450 ribu ton untuk menunjang produksi Pabrik Blast Furnace PT Krakatau Steel (Persero) Tbk.

  27 Mei

  16 Mei

  Manajemen Tata Kelola Perusahaan Tanggung Jawab Sosial

  Penandatanganan Nota Kesepahaman antara PT Meratus Jaya Iron & Steel (“PT MJIS”) dengan PT Purna Sentana Baja untuk pengadaan dan penjualan produk dan by product PT MJIS.

  21 April

  PT Krakatau Steel (Persero) Tbk. melaksanakan program “PKBL Award” sebagai penghargaan bagi tokoh inspirasi dan mitra binaan yang memiliki peran sosial masyarakat yang positif dan inspiratif.

  5 Maret

  Tahap pertama dimulainya Program BUMN Bersih, dengan PT Krakatau Steel (Persero) Tbk. ikut serta di dalamnya, dan membuat program dengan nama Program KS Bersih.