4,290,599 Annual Report 2015 PT GMF AeroAsia

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 180 Laporan Tahunan 2015 | Annual Report Utang Bruto kepada Pelanggan Utang bruto kepada pelanggan merupakan kelebihan penagihan atas pendapatan yang diberikan dari jasa pemeliharaan dan perbaikan pesawat, dan jasa engineering lainnya. Utang bruto kepada pelanggan menurun 42.02 menjadi USD235,299 dibandingkan tahun 2014 sebesar USD405,836. Jumlah tersebut terdiri dari utang bruto kepada pelanggan berelasi sebesar USD122,903 dan pihak ketiga sebesar USD112,396. Penurunan utang bruto kepada pelanggan terutama disebabkan oleh telah diberikannya jasa atas kelebihan penagihan sebelumnya. Utang Pajak Utang pajak merupakan pajak yang masih harus dibayar termasuk didalamnya kenaikan yang tercantum dalam surat ketetapan pajak atau surat sejenisnya berdasarkan peraturan perundang-undangan perpajakan. Utang pajak meningkat 151.97 menjadi USD8,773,296 dibandingkan tahun 2014 sebesar USD3,481,838. Peningkatan utang pajak terutama disebabkan oleh meningkatnya utang pajak badan tahun 2015 seiring dengan meningkatnya laba sebelum pajak. Gross Payables From Customers Gross receivable from customers is the cost surplus given by of maintenance and repair of aircraft, and other engineering services. Gross receivables from customers decreased by 42.02 to USD235.299 compared to that in 2014 amounting to USD405.836. This decrease consists of gross receivables from related parties amounting to USD122.903 and third parties amounting to USD112.396. This decrease was mainly due to excess billing service which given before. Tax Liabilities Tax liabilities is a tax payable including the increase contained in the tax assessments or similar letter under tax regulations. Tax liabilities increased by 151.97 to USD8.773.296 compared to that in 2014 amounting to USD3.481.838. This increase occured by the increase in tax liabilities in 2015 as the increase in proi t before tax. Tabel Utang Pajak Tahun 2011-2015 USD Table Of Tax Liabilities In 2011-2015 USD Uraian In detail 2011 2012 2013 2014 NaikTurun Change in 2015 Pajak Kini Current tax 390,073 1,205,585 2,508,320 1,117,675 504.11 6,752,012 Pajak Penghasilan: Income tax: Pasal 21 Article 21 522,009 635,587 1,553,919 2,125,534 36.55 1,348,652 Pasal 23 Article 23 27,954 46,151 52,390 46,751 302.33 188,092 Pasal 25 Article 25 154,023 149,733 172,406 83,648 120.85 184,737 Corporate Governance PERUSAHAAN Corporate Social Responsibility Audited Financial Statements ANNUAL REPORT AWARD 2015 Reference of 2015 Annual Report Award Criteria 181 Laporan Tahunan 2015 | Annual Report Grai k Utang Pajak Tahun 2011-2015 USD Chart of tax liabilities in 2011-2015 USD Beban Akrual Beban Akrual GMF terdiri dari Bonus dan tantiem, Sewa, Kurir dan Pengiriman, Outsourcing, Telpon, Listrik dan Air, Suku Cadang, Garansi Pemeliharaan, Pelatihan, Jasa Profesional, Asuransi dan lainnya. Beban akrual menurun 19.88 menjadi USD20,963,727 dibandingkan tahun 2014 sebesar USD26,166,074. Penurunan beban akrual terutama disebabkan oleh telah diterimanya tagihan atas beban sewa tanah, konsesi dan beban konstruksi pembangunan hangar 4 dari vendor . Accrued expenses GMF Accred Expenses consist of bonus and tantieme, Rent, Courier and Delivery, Outsourcing, Telephone, Electricity and Water, Spare Parts, Warranty Maintenance, Training, Professional Services, Insurance, and others. Accrued decreased by 19.88 to USD20.963.727 compared to 2014 amounting to USD26.166.074. This decrease was primarily due to increases in the cost of rent, the concession services and construction of Hangar 4 building from vendor. 1,159,388 4,478,723 2,212,953 3,481,838 8,773,296 2011 2013 2012 2014 2015 Uraian In detail 2011 2012 2013 2014 NaikTurun Change in 2015 Pasal 26 Article 26 - 681 - 7,728 2,865.46 229,171 Pasal 42 Article 4 2 - 19,170 187,671 17,038 314.56 70,632 Pajak Pertambahan Nilai Bersih Value added tax net 65,329 156,045 4,017 83,464 100.00 - Jumlah Utang Pajak Total tax liabilities 1,159,388 2,212,953 4,478,723 3,481,838 151.97 8,773,296 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 182 Laporan Tahunan 2015 | Annual Report Graik Beban Akrual Tahun 2011-2015 USD Chart Of Accrued Expenses In 2011-2015 USD Graik Pinjaman Jangka Panjang Jatuh Tempo Satu Tahun Tahun 2011-2015 USD Chart Of Long Term Loans Matured Within One Year In 2011-2015 USD Pinjaman Jangka Panjang Jatuh Tempo Satu Tahun Pinjaman jangka panjang jatuh tempo satu tahun meningkat 25.50 menjadi USD8,611,818 dibandingkan tahun 2014 sebesar USD6,861,857. Peningkatan pinjaman jangka panjang jatuh tempo satu tahun terutama disebabkan oleh meningkatnya pinjaman jangka panjang kepada Bank Negara Indonesia dan PT Indonesia Infrastructure Finance yang dilakukan penarikan pada tahun 2015. Long Term Loans Matured Within One Year Long term loans matured within one year increased by 25.50 to USD8.611.818 compared to that in 2014 amounting to USD6.861.857. This increase was primarily due to the increase in long term loans from Bank Negara Indonesia and PT. Indonesia Infrastructure Finance which collected in 2015. 11,489,928 19,640,141 12,075,248 26,166,074 20,963,727 2011 2013 2012 2014 2015 1,893,472 2,983,064 3,191,786 6,861,857 8,611,818 2011 2013 2012 2014 2015 Corporate Governance PERUSAHAAN Corporate Social Responsibility Audited Financial Statements ANNUAL REPORT AWARD 2015 Reference of 2015 Annual Report Award Criteria 183 Laporan Tahunan 2015 | Annual Report Tabel Liabilitas Jangka Panjang Tahun 2011-2015 USD Table Of Long Term Liabilities In 2011-2015 USD Liabilitas Jangka Panjang Liabilitas Jangka Panjang GMF terdiri dari pinjaman jangka panjang setelah dikurangi bagian jatuh tempo dalam satu tahun, utang kepada pemegang saham, serta liabilitas imbalan kerja. Liabilitas jangka panjang meningkat 9.10 menjadi USD98,495,404 dibandingkan tahun 2014 sebesar USD90,278,001. Peningkatan liabilitas jangka panjang terutama disebabkan oleh meningkatnya pinjaman jangka panjang setelah dikurangi bagian jatuh tempo dalam satu tahun kepada Bank Negara Indonesia dan PT Indonesia Infrastructure Finance yang dilakukan penarikan pada tahun 2015. Long term liabilities GMF Long-Term Liabilities consists of Long-Term Loans after deducted by Part of Due within One Year, Debt to Shareholders, as well as Liabilities to Employee Benei ts. Long-Term Liabilities increased by 9.10 to USD98.495.404 compared to that in 2014 amounting to USD90.278.001. This increase was due to the addition of a long-term loan facility after deducted by part of due within one year to Bank Negara Indonesia and PT. Indonesia Infrastructure Finance which collected in 2015. Disajikan kembali Restated Uraian In Detail 2011 2012 2013 2014 NaikTurun Change in 2015 Pinjaman jangka panjang - setelah dikurangi bagian jatuh tempo dalam satu tahun Long term loan after deducted by part of due within one year 4,350,591 7,554,102 30,102,968 39,539,119 24,44 49,201,033 Utang kepada pemegang saham Debt to share holders 2,873,150 10,183,849 10,185,110 6,610,894 41,25 3,884,227 Liabilitas imbalan kerja Liabilities of employee benei ts 27,702,960 27,839,636 40,815,519 44,127,988 2,91 45,410,144 Jumlah Liabilitas Jangka Panjang Total long term liabilities 34,926,701 45,577,587 81,103,597 90,278,001 9,10 98,495,404 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 184 Laporan Tahunan 2015 | Annual Report Graik Liabilitas Jangka Panjang Tahun 2011-2015 USD Chart Of Long Term Liabilities In 2011-2015 USD Pinjaman Jangka Panjang - Setelah Dikurangi Bagian Jatuh Tempo dalam Satu Tahun Pinjaman jangka panjang - setelah dikurangi bagian jatuh tempo dalam satu tahun meningkat 24.44 menjadi USD49,201,033 dibandingkan tahun 2014 sebesar USD39,539,119. Peningkatan pinjaman jangka panjang - setelah dikurangi bagian jatuh tempo dalam satu tahun terutama disebabkan oleh meningkatnya pinjaman kepada PT Indonesia Infrastructure Finance yang dilakukan penarikan pada akhir tahun 2015. Utang kepada Pemegang Saham Utang kepada pemegang saham merupakan penjadualan ulang atas pembayaran utang usaha pada tahun 2012 dan pendanaan investasi pengembangan kapabilitas test cell dari Garuda Indonesia. Utang kepada pemegang saham menurun 41.25 menjadi USD3,884,227 dibandingkan tahun 2014 sebesar USD6,610,894. Penurunan utang kepada pemegang saham sesuai dengan skedul pembayaran yang telah disepakati. Long Term Loans – After Deducted By Oart Of Due Within On Year Long term loans – after deducted by oart of due within on year increased by 24.44 to USD49.201.033 compared to that in 2014 amounting to USD39.539.119. This increase was mainly obtained by the increase in loans to PT Indonesia Infrastructure Finance which collected by the end of 2015. Loans to shareholders Loans to shareholders is re-schedule of trade account payables payment in 2012 and fund covering for developing test cell capability from Garuda Indonesia. Loans to shareholders decreased by 41.25 to USD3.884.227 compared to 2014 amounting to USD6.610.894. This decrease was significant with the timing of payment agreement. 34,926,701 81,103,597 45,577,587 90,278,001 98,495,404 2011 2013 2012 2014 2015 Corporate Governance PERUSAHAAN Corporate Social Responsibility Audited Financial Statements ANNUAL REPORT AWARD 2015 Reference of 2015 Annual Report Award Criteria 185 Laporan Tahunan 2015 | Annual Report Tabel Ekuitas Tahun 2011-2015 USD Table of Equity in 2011-2-15 USD Liabilitas Imbalan Kerja Liabilitas imbalan kerja meningkat 2.91 menjadi USD45,410,144 dibandingkan tahun 2014 sebesar USD44,127,988. Peningkatan liabilitas imbalan kerja terutama disebabkan oleh meningkatnya jumlah karyawan. Liabilities of employee benei ts Liabilities of employee benefits increased by 2.91 to USD45.410.144 compared to that in 2014 amounting to USD44.127.988. This increase was mainly due to the increase of employees. Jumlah Ekuitas Total equity Ekuitas GMF terdiri dari modal saham, modal disetor lainnya dan surplus revaluasi serta saldo laba. Jumlah ekuitas meningkat 36.14 menjadi USD122,791,864 dibandingkan tahun 2014 sebesar USD90,193,450. Peningkatan ekuitas terutama disebabkan oleh laba tahun berjalan. GMF equity consists of share capital, other paid up capital and revaluation surplus and retain earnings. Total equity increased by 36.14 to USD122.791.864 compared to that in 2014 amounting to USD90.193.450. This increase was mainly due to retain earnings during the year. Jumlah Ekuitas tahun 2015 meningkat Total equity increased in 2015 36.14 Uraian In detail 2011 2012 2013 2014 NaikTurun Change in 2015 Modal saham Share capital 19,214,846 19,214,846 19,214,846 19,214,846 - 19,214,846 Modal disetor lainnya dan surplus revaluasi Other paid-up capital and revaluation surplus 1,185,115 1,210,213 1,194,236 1,201,719 2.02 1,226,015 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 186 Laporan Tahunan 2015 | Annual Report Grai k Ekuitas Tahun 2011-2015 USD Chart of equity in 2011-2015 USD Modal Saham Pemegang saham GMF yaitu PT Garuda Indonesia Persero Tbk dan PT Aero Wisata. Persentase Kepemilikan saham 99 dimiliki oleh PT Garuda Indonesia Persero Tbk, setara dengan 658.944 lembar saham atau sebesar dengan USD19,022,698, dan 1 lainnya dimiliki oleh PT Aero Wisata setara dengan 6.656 lembar saham atau sebesar USD192,148. Sehingga modal saham tahun 2015 secara ringkas disajikan sebagai berikut: Share capital GMF share capital is held by two 2 Companies, namely PT Garuda Indonesia Persero Tbk and PT Aero Wisata. GMF 99 shares of Ownership is owned by PT Garuda Indonesia Tbk, equivalent to 658.944 shares or amounting to USD 19.022.698, and another 1 is owned by PT Aero Travel, equivalent to 6.656 shares or amounting to USD 192.148. In 2015, GMF share capital is as follows: Disajikan kembali Restated 58,900,254 75,053,799 69,646,934 90,193,450 122,791,864 2011 2013 2012 2014 2015 Uraian In detail 2011 2012 2013 2014 NaikTurun Change in 2015 Saldo laba: Retain earnings: -Ditentukan penggunaannya - Determined 2,465,469 2,827,602 3,169,426 3,458,030 - 3,458,030 -Tidak ditentukan penggunaannya - Not determined 36,034,824 46,394,273 51,475,291 66,318,855 49.12 98,892,973 Jumlah Ekuitas Total equity 58,900,254 69,646,934 75,053,799 90,193,450

36.14 122,791,864

Corporate Governance PERUSAHAAN Corporate Social Responsibility Audited Financial Statements ANNUAL REPORT AWARD 2015 Reference of 2015 Annual Report Award Criteria 187 Laporan Tahunan 2015 | Annual Report Tabel Modal Saham Table of share capital Modal Disetor Lainnya dan Surplus Revaluasi Modal disetor lainnya merupakan selisih antara jumlah diterima atas utang jangka panjang kepada PT Garuda Indonesia Persero Tbk, pemegang saham dan nilai wajar dari liabilitas keuangan sebesar Rp14.316.458.399 setara dengan USD1,523,027 setelah dikurangi pengaruh pajak sebesar Rp3.579.114.600 setara dengan USD380,756 pada saat penerapan awal PSAK 50 dan 55 revisi 2006. Sedangkan Surplus revaluasi timbul dari revaluasi bangunan dan prasarana. Modal disetor lainnya dan surplus revaluasi meningkat 2.02 menjadi USD1,226,015 dibandingkan tahun 2014 sebesar USD1,201,719. Saldo Laba Saldo laba dibedakan menjadi 2 dua komponen yaitu ditentukan penggunaannya dan tidak ditentukan penggunaannya. Jumlah saldo laba meningkat 49.12 menjadi USD102,351,003 dibandingkan tahun 2014 sebesar USD69,776,885. Selanjutnya mengenai penggunaan saldo laba juga akan dijelaskan dibagian berikutnya yaitu Kebijakan Dividen dan Cadangan Umum pada Laporan Tahunan ini. Other Paid-up Capital and Revaluation Surplus Other paid-up capital is accounts receivable on the difference between the number of long term debt to PT Garuda Indonesia Persero Tbk, shareholders and the fair value of inancial liabilities of Rp14.316.458.399 equivalent to USD1.523.027 net of tax efect amounting to Rp3,579.114.600 equivalent to USD380.756 at the time of the initial application of IAS 50 and 55 2006 revision. Whereas evaluation surplus resulted from building and infrastructure revaluation. Other Paid-up Capital and Revaluation Surplus increased by 2.02 to USD1.226.015 compared to that in 2014 amounting to USD1.201.719. Retained earnings Retained earnings is devided by two types; deterimened and non-detemined by the owners. Total of retained earnings increased by 49.12 to USD102.351.003 compared to that in 2014 amounting to USD69.776.885. Moreover, the use of retained earnings will be discussed in the next chapter; Deviden Regulation and general resources in this annual report. Uraian Name of shareholders Jumlah Saham lembar Number of shares Persentase Kepemilikan Ownership percentage Jumlah Modal disetor USD Paid up capital USD PT Garuda Indonesia Persero Tbk PT Garuda Indonesia Persero Tbk 658,944 99 19,022,698 PT Aero Wisata PT Aero Wisata 6,656 1 192,148 Jumlah Modal Saham Total share capital 665,600 100 19,214,846