Financial Updates
Laporan T
ahunan / Annual Repor
t 2011
Kantor Pusat dan Pabrik Jalan Indofarma No.1
Cikarang Barat - Bekasi 17530 Telepon : (021) 8832 3971 / 75 Faksimili : (021) 8832 3972 – 73 Website : www.indofarma.co.id e-mail : general@indofarma.co.id
Moving Forward
Beyond The Generic Innovation
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Laporan Tahunan | Annual Report 2011
Selama sepuluh tahun terakhir, INDOFARMA telah berkembang menjadi sebuah perusahaan terbuka yang profesional dengan membangun fondasi pertumbuhan yang kuat. INDOFARMA melakukan penerapan tata kelola perusahaan yang baik secara konsisten. Identiikasi dini terhadap risiko, keterbukaan informasi terhadap pemangku kepentingan, serta sistem pengawasan internal dan eksternal yang kompeten telah membantu INDOFARMA meminimalisasi risiko korporasi. Manajemen rantai pasok telah membuahkan hasil. Eisiensi produksi telah ditingkatkan, dan distribusi dikembangkan. Pemetaan portofolio produk difokuskan dalam mendukung pemasaran.
Peran utama INDOFARMA sebagai pemimpin pasar obat generik diwujudkan dengan senantiasa menyediakan obat-obatan terjangkau bagi masyarakat. INDOFARMA akan terus menjaga komitmen kualitas pada pelanggan melalui pemastian tingkat kesetaraan hayati dengan produk inovator melalui uji Bioavailability dan Bioequivalence. INDOFARMA secara konsisten juga berkontribusi pada program pemasaran sosial obat generik.
Transformasi budaya yang menyeluruh dilakukan secara bertahap diarahkan untuk mampu membentuk budaya perusahaan yang lebih “berorientasi pada penciptaan nilai korporasi”.
Dengan didukung faktor-faktor fundamental tersebut, memasuki tahun 2011 INDOFARMA memulai era akselerasi pertumbuhan. Pengembangan INDOFARMA ke depan dilakukan dengan empat platform inovasi, yaitu Generic Based Product Range Development, Generic-Related Business, Nutraceuticals dan Cross-Boundaries Healthcare Industries. Hal ini dilakukan untuk memantapkan posisi INDOFARMA sebagai Top Generic Manufacturer saat ini menjadi Health Care Company dimana terjadi perubahan paradigma pengobatan dari kuratif dan rehabilitatif menjadi preventif dan promotif.
For the last decade, INDOFARMA has been emerging as a professional public listed company with a solid platform of growth. INDOFARMA has also been implementing Good Corporate Governance principles consistently, resulting in proper risk mitigation protocols, transparancy to stakeholders and competence audit system. These results have further leveraged INDOFARMA in achieving business growth and minimized corporate risk.
In addition, the implementation of supply chain management practices has signiicantly resulted is better changes for the companys performance. Production eficiency has been improved over the years and distribution channels had been revitalized to enhance company’s achievements.
The main role of INDOFARMA as the generic market leader has been materialized by consistently opening access to medicine for general public. INDOFARMA is committed to providing quality products to its customers through Bioavailability and Bioequivalency (bio level assesment using innovator product as the reference). In addition, INDOFARMA continuously contributes to social marketing program of its generic product. Culture transformation has been taking place through out the organization in several stages focusing on building a “value creation orientation” in the corporate culture.
With these fundamental factors, INDOFARMA is conident in starting the year 2011 as the year of growth acceleration. The future development of INDOFARMA is based on four platforms of innovation, namely Generic Based Product Range Development, Generic-Related Business, Nutraceuticals and Cross-Boundaries Healthcare Industries. With these platforms, INDOFARMA is aimed to be a Health Care Company which transforms from its current position as Top Generic Manufacturer by signiicantly shifting the paradigm, from curative and rehabilitative into a preventive and promotive.
“Moving Forward
Beyond The Generic Innovation”
Generic Based Product Range Development
Nutraceuicals Organic Growth
Un-Organic Growth Product
Based Development
Business Based Development Generic-Related
Business
Cross-Boundaries Healthcare
Industries
Top Generic Manufacturer
Healthcare
Company
Innovaion Plaforms
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Ikhtisar Keuangan
Financial Highlight 4
Penghargaan & Sertiikasi
Awards & Certiication 8
Laporan Dewan Komisaris
Report of Board of Commisioners 9
Proil Dewan Komisaris
Board of Commisioner’s Proile 11
Laporan Direksi
Report of Board of Directors 12
Proil Direksi
Board of Director’s Proile 14
Proil Perusahaan
Company Proile 15
Peristiwa Penting 2011
Important Events 2011 22
Jejak Langkah
Milestones 23
Tinjauan Sumber Daya Manusia
Review of Human Resources 26
Tinjauan Bisnis Perusahaan
Review of Enterprise Business 29
Tinjauan Hasil Usaha
Review of Business Results 38
Tata Kelola Perusahaan
Good Corporate Governance 44
Tanggung Jawab Sosial Perusahaan
Corporate Social Responsibility 66
Pandangan Stakeholders
Stakeholders’ View 70
Laporan Keuangan Konsolidasian yang Berakhir pada 31 Desember 2011 dan 2010
Consolidated Financial Statements for The Years Ended 31st Desember 2011 and 2010 73
Daftar Isi
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Laporan Tahunan | Annual Report 2011
Laporan Tahunan 2011 ini dibuat berdasarkan laporan keuangan Perseroan yang telah diaudit oleh KAP Husni, Muharam & Rasyidi. Laporan keuangan ini menggunakan standar akuntansi keuangan yang berlaku umum di Indonesia dan disajikan berdasarkan peraturan Badan Pengawas Pasar Modal dan Lembaga Keuangan No. VIII.G.7 dan VIII.G.2.
Dalam laporan tahunan ini kata "INDOFARMA", "Perseroan", "Perusahaan", dan "Kami" merujuk kepada PT INDOFARMA (Persero) Tbk dan anak perusahaan yang dikonsolidasikan.
Beberapa angka tertentu (termasuk persentase) telah dibulatkan untuk mempermudah pembacaan, sehingga angka, perhitungan, persentase dan rasio yang diberikan dengan yang sesungguhnya terdapat perbedaan.
Laporan Tahunan ini memuat informasi keuangan, proyeksi, strategi, serta data historis. Pernyataan yang bersifat proyeksi mengandung risiko dan ketidakpastian.
Untuk informasi lebih lanjut mengenai INDOFARMA silahkan menghubungi Hubungan Investor: Kantor Komersial, Jl. Tambak No. 2, Manggarai - Jakarta Pusat 13150, Indonesia. Telp.: (+62-21-85908350), Faks.: (+62-21-8574503), E-mail: general@indofarma.co.id. Versi online dokumen ini dapat dilihat pada situs kami http://www.indofarma.co.id
This Annual Report 2011 is based on audited inancial statements of Husni, Muharam & Rasyidi Registered Public Accountant. These inancial statements is using accounting standards are generally accepted in Indonesia and Presented based on the regulation of the Capital Market Supervisory Agency and Financial Institution No. VIII.G.7 and VIII.G.2.
In this annual report the words "Indofarma", "Perseroan", "Company", and "we" refers to the PT Indofarma (Persero) Tbk and its subsidiaries which are consolidated.
Some speciic igures (including percentages) have been rounded for ease of reading, so the igures, calculations, percentages and ratios given by the real may slightly different.
This Annual Report contains inancial information, projections, strategies, as well as historical data. Some projections may contain risks and uncertainties.
For more information on Indofarma please contact Investor Relations: Commercial Ofice, Jl. Tambak No. 2, Manggarai - Central Jakarta 13150, Indonesia, phone: (+62-21-85908350), fax: (+62-21-8574503), e-mail: general@indofarma.co.id. The online version of this document can be see on our website at http://www.indofarma.co.id
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Dalam Jutaan Rupiah Kecuali Disebutkan Lain In Million Rupiah Otherwise Stated
Laporan Laba Rugi 2011 2010 2009 2008 2007 Income Statement
Penjualan Bersih 1.203.467 1.047.918 1.125.055 1.478.585 1.273.162 Net Sales
Harga Pokok Penjualan 807.283 729.454 820.420 1.145.182 983.208 Cost of Goods Sold
Laba Kotor 396.184 318.464 304.636 333.403 289.954 Gross Proit
Laba Usaha 91.959 56.448 45.909 63.019 44.710 Operating Income
Laba (Rugi) Kurs (768) 96 2.721 (16.812) (1.869) Gain (Loss) on Foreign Exchange
Beban Bunga 21.277 24.806 35.342 30.270 16.116 Interest Expenses
Beban Pajak 18.283 7.862 10.540 4.834 10.997 Tax Expenses
Laba Bersih 36.919 12.547 2.126 5.032 11.077 Net Income
Laba Bersih Komprehensif 36.969 12.547 2.126 5.032 11.077 Comprehensive Net Income
Jumlah Saham Beredar (Juta Lembar) 3.099 3.099 3.099 3.099 3.099 Shares Outstanding (Million Sheets)
Laba Usaha per Saham (Rp) 29.67 18.21 14.81 20.33 14.43 Operating Proit per Share (Rp)
Laba Bersih per Saham (Rp) 11.93 4.05 0.69 1.62 3.57 Earnings per Share (Rp)
Laporan Posisi Keuangan 2011 2010 2009 2008 2007 Balance Sheet
Aset Lancar 706.558 582.999 583.441 843.316 899.307 Current Assets
Investasi Jangka Pendek 28 31 25 25 2.336 Short Term Investments
Aset Tidak Lancar 408.343 150.959 144.594 120.830 110.130 Non Current Assets
Jumlah Aset 1.114.902 733.958 728.035 964.144 1.009.438 Total Assets
Liabilitas Jangka Pendek 459.404 375.569 376.912 632.908 686.297 Current Liabilities
Liabilitas Jangka Panjang 46.304 47.120 52.400 34.640 31.580 Long Term Liabilities
Jumlah Liabilitas 505.708 422.690 429.313 667.548 717.874 Total Liabilities
Modal Kerja Bersih 247.155 207.430 204.310 210.408 213.010 Net Working Capital
Jumlah Ekuitas 609.194 311.268 298.721 296.595 291.563 Total Equity
Rasio Keuangan 2011 2010 2009 2008 2007 Financial Ratio
Tingkat Pengembalian Aset 3,31% 1,71% 0,29% 0,52% 1,10% Return on Assets
Tingkat Pengembalian Ekuitas 6,06% 4,03% 0,71% 1,70% 3,80% Return on Equity
Rasio Lancar 153,79% 155,23% 154,21% 133,24% 131,04% Current Ratio
Rasio Liabilitas terhadap Ekuitas 83% 135,80% 143,72% 225,07% 246,22% Debt to Equity Ratio
Rasio Liabilitas terhadap Aset 45,35% 57,59% 58,97% 69,24% 71,12% Debt to Total Assets Ratio
Rasio Keuangan Lainnya 2011 2010 2009 2008 2007 Other Financial Ratio
EBITDA terhadap Beban Bunga 259% 82,27% 35,84% 38,19% 136,97% EBITDA to Interest Income
EBITDA terhadap Liabilitas 10,92% 4,83% 2,95% 1,73% 3,07% EBITDA to Liabilities
Marjin Laba Operasi 7,64% 5,39% 4,08% 4,26% 3,51% Operating Proit Margin
Tingkat Perputaran Persediaan 4,58 4,84 4,67 5,52 4,78 Inventory Turnover
Tingkat Perputaran Aset 1,30 1,43 1,33 1,50 1,26 Total Asset Turnover
Ikhtisar Keuangan
Financial Highlight
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Laporan Tahunan | Annual Report 2011
Penjualan Bersih | Net Sales
Dalam Juta Rupiah | In Million Rupiah
Laba Bersih | Net Income
Dalam Juta Rupiah | In Million Rupiah
2011 2010
2009 2008
2007 1.273.162
1.478.585
1.125.055 1
1.203.467 .047.918
2011 2010
2009 2008
2007 11.077
5.032
2.126
36.969
12.547
Jumlah Aset | Total Assets
Dalam Juta Rupiah | In Million Rupiah
Jumlah Ekuitas | Total Equities
Dalam Juta Rupiah | In Million Rupiah
2011 2010
2009 2008
2007 1.009.438
96
1.114.902 4.144
728.035 733.958
291.563
296.595 298.720
609.194
311.268
2011 2010
2009 2008
2007
Pengembalian Aset | ROA
Dalam Persen (%) | In Percentage (%)
Pengembalian Ekuitas | ROE
Dalam Persen (%) | In Percentage (%)
2011 2010
2009 2008
2007 1,10
0,52
0,29
1,7
3.31
1
3,80
1,70
0,71
6,06
4,03
2011 2010
2009 2008
2007 Ihktisar Keuangan Financial Highlight
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Ikhtisar Operasional
Operational Highlight
Pelanggan Teregistrasi 2011 2010 2009 Customers
Pedagang Besar Farmasi 2.148 1.942 1.730 Wholesale
Apotik 16.551 15.485 14.200 Pharmacy
Apotik Rumah Sakit 107 102 98 Hospital Pharmacy
Rumah Sakit 1.854 1.781 1.684 Hospital
Dinas Kesehatan 903 877 854 Health Service
Toko Obat 1.072 1.063 1.035 Medical Store
Puskesmas 136 136 131 Clinic
Perusahaan Besar Alat Kesehatan 33 21 10 Big Medical Equipment Corporate
Klinik Bersalin 209 207 201 Maternity Clinic
Lain-lain 1.352 1.231 883 Others
Jumlah 24.365 22.845 20.826 Total
Ikhtisar Saham
Stock Highlight
Kinerja Saham Indofarma (INAF) 2011
Stock Performance of Indofarma (INAF) 2011
Pembukaan Open
Tertinggi High
Terendah Low
Penutupan Close
Volume Transaksi Trading Volume (lot)
Januari 81 82 70 72 39.780 January
Februari 72 77 70 73 30.551 February
Maret 71 82 71 79 50.943 March
April 79 85 77 80 160.772 April
Mei 80 99 80 87 702.051 May
Juni 88 99 80 92 708.241 June
Juli 92 96 89 90 186.536 July
Agustus 90 91 75 83 47.607 August
September 86 86 69 74 25.466 September
Oktober 73 129 67 127 1.291.337 October
Nopember 125 143 114 129 1.471.174 November
Desember 132 197 130 163 1.746.469 December
Graik Pergerakan Saham dan Volume Perdagangan
Share Price Movement and Volume
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Laporan Tahunan | Annual Report 2011
Ihktisar Keuangan Financial Highlight
Kinerja Saham per Triwulan
Stock Performance per Quarter
2011 Pembukaan
Open
Tertinggi High
Terendah Low
Penutupan Close
Volume Transaksi
Trading Volume (lot) 2011
Triwulan 1 81 82 70 79 121.274 Quarter 1
Triwulan 2 79 99 77 92 1.571.064 Quarter 2
Triwulan 3 92 96 69 74 259.609 Quarter 3
Triwulan 4 73 197 67 163 4.508.980 Quarter 4
2010 Pembukaan
Open
Tertinggi High
Terendah Low
Penutupan Close
Volume Transaksi
Trading Volume (lot) 2010
Triwulan 1 83 95 73 79 1.793.241 Quarter 1
Triwulan 2 79 110 76 92 1.082.664 Quarter 2
Triwulan 3 90 99 82 83 1.004.113 Quarter 3
Triwulan 4 83 97 78 80 1.129.041 Quarter 4
Kronologi Pencatatan Saham
Stock Listing Chronology
Tanggal Pencatatan Listing Date
Penambahan Saham Stock Addition
Akumulasi Saham Stock Accumulated
Pra Penawaran Umum Saham
Perdana 17 April 2001 596.875.001 596.875.001 Pre Initial Public Offering
Penawaran Umum Saham
Perdana 17 April 2001 2.499.999.999 3.096.875.000 Initial Public Offering
Konversi Saham 26 August 2002 2.392.500 3.099.267.500 Stock Conversion
Kepemilikan Saham
Stock Ownership
Nama Name
Kategori Pemegang Saham Stock Owner Category
Jumlah Amount
Persentase Percentage
Pemerintah Republik Indonesia
The Government of the Republic of Indonesia
Pemegang Saham Pengendali (Seri A Dwiwarna)
Controlling Shareholder 2.500.000.000 80,66%
DBS Vickers (Hong Kong) Limited Bukan Pemegang Saham Pengendali (Seri B)
Non Controlling Shareholder 215.850.500 5,97%
Masyarakat Public
Bukan Pemegang Saham Pengendali (Seri B)
Non Controlling Shareholder 383.417.000 13,37%
Kategori Kepemilikan Saham
Stock Ownership Category
Kategori Pemegang Saham Stock Owner Category
Persentase Percentage
Pialang
Traders 8,68%
Individu – Domestik
Individual – Domestic 79,22%
Individu – Asing
Individual – Foreign 0,79%
Individu – Ekspatriat
Individual – Expatriat 0,17%
Institusi – Domestik
Institution – Domestic 4,06%
Institusi – Asing
Institution – Foreign 1,84%
Asuransi
Insurance 4,21%
Dana Pensiun
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Penghargaan & Sertiikasi
Awards & Certiication
Cara Pembuatan Obat yang Baik (CPOB)
Sejak tahun 1991 hingga saat ini, Indofarma telah memiliki 19 sertiikasi
CPOB pada kategori:
Good Manufacturing Practices (GMP)
Since 1991, Indofarma has achieved 19 GMP certiication under
following categories:
328/CPOB/A/II/91 Tablet Biasa Non Antibiotika
Non Antibiotic Tablet
329/CPOB/A/II/91 Tablet Salut Non Antibiotika Non Antibiotic Coated Tablet
330/CPOB/A/II/91 Kapsul Keras Non Antibiotika
Non Antibiotic Hard Capsule
331/CPOB/A/II/91 Serbuk Non Antibiotika Oral
Non Antibiotic Oral Powder
332/CPOB/A/II/91 Cairan Non Antibiotika Oral
Non Antibiotic Oral Liquid
333/CPOB/A/II/91 Tablet Biasa Antibiotika
Antibiotic Tablet
334/CPOB/A/II/91 Tablet Salut Antibiotika Antibiotic Coated Tablet
335/CPOB/A/II/91 Kapsul Keras Antibiotika
Antibiotic Hard Capsule
336/CPOB/A/II/91 Suspensi Kering Antibiotika Antibiotic Oral Dry Suspension
337/CPOB/A/II/91 Salep/Krim Antibiotika Antibiotic Cream/Ointment
338/CPOB/A/II/91 Tablet Biasa Antibiotika Penisilin
Dan Turunannya Antibiotic Penicillin Tablet &
Derivates
339/CPOB/A/II/91 Tablet Salut Antibiotika Penisilin
Dan Turunannya Antibiotic Penicillin Coated Tablet
& Derivates
340/CPOB/A/II/91
Kapsul Keras Antibiotika Penisilin Dan Turunannya
Antibiotic Penicillin Hard Capsule & Derivates
341/CPOB/A/II/91 Suspensi Kering Antibiotika Penisilin
Dan Turunannya
Antibiotic Penicillin Dry Suspension & Derivates
1365/CPOB/A/VII/95 Cairan Steril Injeksi Non Antibiotika
Non Antibiotic Sterile Injection
1366/CPOB/A/VII/95 Cairan Steril Tetes Mata Non
Antibiotika
Non Antibiotic Sterile Eye Drops
1367/CPOB/A/VII/95 Cairan Steril Tetes Mata Antibiotika
Antibiotic Sterile Eye Drops
1368/CPOB/A/VII/95 Serbuk Steril Injeksi Antibiotika
Sefalosforin Antibiotic Chepalosporin Sterile
Powder Injection
1369/CPOB/A/VII/95 Cairan Steril Injeksi Antibiotika
Antibiotic Sterile Injection
c-GMP
Sebagai bagian dari peningkatan mutu produk, pada pertengahan tahun 2011, Indofarma melakukan renovasi fasilitas produksi sebagai
prasyarat resertiikasi c-GMP sehingga di pertengahan tahun 2012, Indofarma sudah tersertiikasi sebagai produsen generik terdepan
dengan fasilitas c-GMP (Current Good Manufacturing Practices)
c-GMP
As a part of our commitment to leverage the product quality, in mid of 2011 Indofarma has been upgraded its production facilities as
mandatory requirement to achieve the c-GMP resertiication. In 2011
Indofarma will be acomplished as the top generic manufacturers with
c-GMP qualiication. ISO 9001
Selain sertiikasi CPOB, INDOFARMA juga telah memiliki sertiikat Manajemen Mutu ISO 9001:2008 pada 17 Maret
2009 masih menjaminan kualitas produksi sesuai dengan standar dan kualitas.
ISO 9001
Beside GMP certiication, in March 17, 2009, Indofarma also has implemented the certiicate of Quality Management
System ISO 9001:2008, for product quality assurance and process.
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Laporan Tahunan | Annual Report 2011
Laporan Dewan Komisaris
Report of Board of Commisioners
Para pemegang saham yang terhormat, dengan mengucap syukur kepada Tuhan YME, perkenankan kami untuk menyampaikan Laporan Tahunan PT Indofarma (Persero) Tbk tahun buku 2011.
Pada 2011, INDOFARMA telah berhasil menunjukkan peningkatan kinerja. Peningkatan penjualan berhasil dilakukan didukung oleh perolehan penjualan obat generik yang selama ini menjadi andalan INDOFARMA. Begitu pula penjualan produk di luar obat generik juga berhasil mencapai kenaikan. Manajemen INDOFARMA telah berhasil menjalankan strategi usaha dengan baik sehingga perusahaan mampu meningkatkan proitabilitas. Laba Usaha Perseroan meningkat 63% mencapai Rp 91,96 Miliar. Laba Bersih Sebelum Pajak mampu ditingkatkan menjadi lebih dari satu setengah kali lipat, tepatnya naik 170% yang mencapai Rp 55,20 Miliar. Laba bersih mampu ditingkatkan menjadi hampir tiga kali lipat dari tahun sebelumnya, dari Rp 12,55 miliar pada tahun 2010 menjadi Rp 36,92 miliar.
Dewan Komisaris menghargai peningkatan kinerja dan proitabilitas yang diperoleh melalui peningkatan koordinasi lintas bidang yang lebih erat, khususnya dalam mengoptimalkan fungsi supply chain management, penataan portofolio penjualan produk yang bermarjin cukup besar, keberhasilan dalam mengendalikan biaya produksi, penerapan cash management yang cukup baik, peningkatan kualitas sumber daya manusia yang dimiliki, dan komunikasi yang baik dengan para distributor dan pemasok. Di lain pihak ada dukungan dari kondisi perekonomian yang stabil. Pencapaian yang diraih tersebut menunjukkan bahwa Direksi telah menjalankan tugas-tugasnya dengan baik.
Selama 2011, Dewan Komisaris telah melakukan pengawasan atas kegiatan pengelolaan Perseroan yang dilaksanakan Direksi. Dewan Komisaris telah dibantu oleh Komite Audit untuk memperkuat pengawasan serta memastikan akuntabilitas Perseroan dalam hal tata kelola perusahaan, penerapan prinsip-prinsip GCG yang bersifat dinamis dan terus ditingkatkan oleh Perseroan antara lain tecermin pada
Dear Valued Shareholders, we are grateful to God Almighty as together we have completed our corporate activities in year 2011. Below is our Annual Report 2011 for your review and reference.
In 2011, INDOFARMA has successfully accomplished improvements in overall business performance. Sales, especially of generic drugs, have surged signiicantly. Generic drugs have always been the lagship product of INDOFARMA. Sales of other product categories have also increased.
With excellent performance of INDOFARMA’s management, the company has implemented sound competitive strategy and as a result, the company ended the year with higher level of proitability. Operating income of the company increased by 63% to Rp 91.96 billion. Net Income Before Tax has increased more than double (170%) to reach Rp 55.20 billion. Net Income has trippled from Rp 12.55 billion in 2010 to Rp 36.92 billion this year.
Board of Commissioner (BoC) commends these signiicant changes of company performance, as the result of better cross department coordination, specialy in optimized the function of supply chain management, restructuring its product portofolio with the objective of having higher margin, improvement of production cost containment, good implementation of cash management and develop the human resources and good communication with distributors, and positive, stable economic condition. Credit dues to Board of Directors for all of these achievements, as these results serve as a proxy for excellent management practices of the BoD.
During 2011, the Board has conducted control over management activities implemented Directors of the Company. Board of Commissioners has been assisted by the Audit Committee to strengthen supervision and ensure accountability of the Company in terms of corporate governance, implementation of Good Corporate Governance principles (GCG) which was carried out consistently by the company bears fruit, as shown
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Laporan Komisaris Utama Report of The President Commisioner meningkatnya skor GCG menjadi 81,32 (kategori "Baik") pada 2010 dari 77,11 pada tahun sebelumnya. INDOFARMA sedang melakukan self assessment GCG 2011 pada 2012. Selain itu pada tahun buku 2011, INDOFARMA telah melakukan proiling manajemen risiko pada setiap lini bisnis dari hulu ke hilir. Pada 9 Juni 2011, rapat umum pemegang saham menetapkan perubahan pada Dewan Komisaris dan Direksi. Untuk itu, Dewan Komisaris menyampaikan terima kasih dan penghargaan yang setinggi-tingginya kepada saudara P. Sudibyo dan Deden Edi Soetrisna serta saudari Yuliarti R. Merati atas sumbangsih yang diberikan selama menjadi Direksi. Semoga saudara dan saudari bertiga senantiasa dalam lindungan Tuhan YME. Tak lupa Dewan Komisaris menyampaikan selamat datang kepada saudara Marzuki Abdullah yang telah ditunjuk dan ditetapkan oleh RUPS sebagai komisaris untuk memperkuat jajaran anggota Dewan Komisaris INDOFARMA.
Kami segenap keluarga besar INDOFARMA menyampaikan terima kasih dan memberikan penghargaan yang sebesar-besarnya kepada komisaris, almarhum Bapak Dr. H.Chalik Masulili, Msc yang wafat tanggal 18 Maret 2012.
Dewan Komisaris juga menyampaikan penghargaan atas komitmen Manajemen Perseoran dalam meningkatkan sistem produksi sehingga INDOFARMA menjadi perusahaan farmasi di Indonesia yang berusaha untuk selalu memenuhi persyaratan current Good Manufacturing Practices (c-GMP). Komitmen manajemen tersebut diikuti dengan rencana investasi jangka panjang yang kami yakini akan dilaksanakan secara prudent, mengingat perusahaan telah mengimplementasikan prinsip-prinsip GCG.
Sebagai Dewan Komisaris, kami merasa bangga bahwa INDOFARMA telah mampu berkontribusi dengan baik bagi para pemangku kepentingan dan pemegang saham. Kami yakin bahwa Perseroan akan mampu menangkap peluang-peluang bisnis yang akan menghasilkan pertumbuhan berkualitas serta mampu mengatasi tantangan ke depan.
Akhir kata, Dewan Komisaris menyampaikan terima kasih yang sebesar-besarnya kepada Direksi dan seluruh jajaran karyawan atas dedikasi dan kerja kerasnya. Tak lupa, kami menyampaikan penghargaan yang setinggi-tingginya kepada para pemegang saham, pelanggan, pemasok, dan seluruh mitra kerja atas dukungan dan kerja samanya sehingga INDOFARMA menutup 2011 yang penuh tantangan dengan hasil positif. Semoga Perusahaan terus berjaya pada tahun-tahun mendatang.
Prof. Dr. dr. H. Azrul Azwar, MPH
Komisaris Utama President Commissioner
Drs. Mochamad Ichsani, MM
Komisaris Commissioner
Dr. H.Chalik Masulili, MSc. (Alm.)
Komisaris Commissioner
Dr. Nizar Yamanie Sp.S(K)
Komisaris Commissioner
Drs. Marzuki Abdulah Apt, MBA
Komisaris Commissioner by the increase of GCG score to 81.32 in 2010 from 77.11 in the preceeding year. INDOFARMA will conduct GCG self assessment 2011 in 2012. On top of that, in 2011, INDOFARMA had completed the proiling of risk management in each of its line of business from upstream to downstream.
On June 9, 2011, at the annual shareholder general meeting, shareholders had agreed to several changes in the membership of the BoC and BoD. In this opportunity, BoC would like to thank and express its high appreciation to Mr. P. Sudibyo, Mr. Deden Edi Soetrisna, and Mrs. Yuliarti R. Merati for all of their contribution during their tenure as members of BoD. We wish them all the best of luck in their future endeavours and may God’s blessings are always with them. Accordingly, BoC warmly welcomed Mr. Marzuki Abdullah which had been appointed and endorsed at the annual general meeting as Commissioner, to further strengthen the BoC of INDOFARMA.
We, BoC, the Management and employees of INDOFARMA would also like to convey our highest appreciation and thanks to the late Mr. Dr. H.Chalik Masulili, Msc, member of BoC who passed away on March 18, 2012. Our deepest condolences for his demise.
BoC also fully appreciate and acknowledge high commitment and dillegent work of the Management put in the improvement initiatives of the production system. With these initiatives, INDOFARMA has become a pharmaceutical company in Indonesia which consistently strive to meet the requirements of Current Good Manufacturing Practice (c-GMP).
High commitment from the Management was leveraged to long term investment planning, which we believe will be conducted and acted upon prudently, under the principles of GCG that have been implemented by the company.
We, the BoC is proud to witness INDOFARMA has been able to contribute dilligently to stakeholders and shareholders. We have trust that the company has the capabilities to seek business opportunities as the source of growth and at the same time cope with the future challenges.
To close the note, BoC again thanks and appreciates BoD and all employees for the dedication and hardwork which have been performed relentlessly. We also thank all shareholders, customers, suppliers, and all partners for the continuous support and cooperation so INDOFARMA could close the year with excellent, remarkable results. We hope that the results could be sustained and further enhanced in many years to come.
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11
Laporan Tahunan | Annual Report 2011
Proil Dewan Komisaris
Board of Commisioner’s Proile
Prof. Dr. dr. H. Azrul Azwar, MPH, 67 tahun, menjabat Komisaris Utama INDOFARMA sejak tahun 2004. Beliau adalah Guru Besar di Universitas Indonesia, disamping sebagai Ketua STIKES Binawan Jakarta. Azrul aktif dalam banyak organisasi, antara lain Ikatan Dokter Indonesia, Ketua (1989-1991 dan 1994-1997), Perkumpulan Keluarga Berencana Indonesia, Ketua (1997-2003), Perkumpulan Dokter Keluarga Indonesia, Ketua (1990-2006), Ikatan Alumni Universitas Indonesia, Ketua (1999-2007), dan Gerakan Pramuka Indonesia, Ketua (2003-sekarang). Di tingkat internasional aktif di Confederation of Medical Associaion in Asia and Oceanea, President (1989-1991), World Medical Association, President (1997-1998), Asean Primary Care Association, President (2007-2011), dan Asean Scout Association, President (2007-2012). Meraih gelar dokter dan ahli kesehatan masyarakat dari Universitas Indonesia tahun 1972 dan 1976, Master of Public Health dari University of Hawaii (1997) dan Doktor dari Universitas Indonesia (1996). Azrul pernah menjabat sebagai Dekan Fakultas Keperawatan Universitas Indonesia (1996-2000) dan Direktur Jenderal Kesehatan Masyarakat Kementerian Kesehatan RI (1998-2005).
Drs. Mochamad Ichsani, MM, 55 tahun, menjabat sebagai komisaris INDOFARMA sejak tahun 2006. Beliau juga menjabat sebagai Inspektur di Kementerian BUMN (2006-Maret 2012). Beliau mendapatkan penghargaan Satyalencana Karya Satya XX Tahun, dari pemerintah tahun 2005. Spesialis di dalam bidang audit, sebelumnya memegang beberapa posisi di Badan Pengawasan Keuangan dan Pembangunan (BPKP) antara lain Kepala Perwakilan BPKP Propinsi Riau (2004-2005) dan Direktur Pengawasan Agrobisnis, Jasa Konstruksi dan Perdagangan (2005-2006). Meraih gelar sarjana ekonomi akuntansi dari Universitas Gadjah Mada pada 1982 dan Magister Manajemen bidang Manajemen Keuangan dari STIE Artha Bodhi Iswara, Surabaya pada 2003.
Dr. H. Chalik Masulili, Msc. (alm.), 61, menjabat sebagai komisaris INDOFARMA sejak Mei 2010. Beliau juga menjabat sebagai Ketua Sekretariat Jamkesmas Pusat, Ketua Country Coordination Mechanism (CCM) Global Fund ATM serta sebagai penasihat di Asosiasi Rumah Sakit Seluruh Indonesia (sejak 2002) dan Asosiasi Dinas Kesehatan Seluruh Indonesia (sejak 2006). Sebelumnya beliau pernah menjabat sebagai Staf Ahli Menteri Kesehatan Bidang Pembiayaan dan Pemberdayaan Masyarakat (2011), Direktur Rumah Sakit Koja dan Kepala Dinas Kesehatan DKI Jakarta, Memperoleh gelar master dan doktor di bidang kesehatan masyarakat dari Universitas Indonesia.
Dr. Nizar Yamanie Sp.S(K), 59 tahun, menjabat sebagai komisaris INDOFARMA sejak Mei 2010. Beliau juga menjabat sebagai Sekretaris Tim Medis Kementerian Indonesia (2008-sekarang). dan juga sebagai Ketua Perhimpunan Penanggulangan Epilepsi Indonesia Jakarta (PERPEI, 2002-sekarang). Sebelumnya beliau aktif di Fakultas Kedokteran Universitas Indonesia sebagai Koordinator Administrasi dan Keuangan Departemen Neurologi (1999-2004) dan Kepala Departemen Neurologi (2005-2009), saat ini Senior Lecture di Departemen Neurologi Fakultas Kedokteran Universitas Indonesia. Pernah menjabat sebagai Wakil Ketua Umum Perhimpunan Dokter Spesialis Syaraf Indonesia (PERDOSSI, 2008-2012). Meraih gelar dokter pada 1982 di Fakultas Kedokteran Universitas Airlangga dan spesialis neurologi pada 1994 dari Universitas Indonesia.
Drs. Marzuki Abdullah Apt, MBA, 67 Tahun, menjabat komisaris INDOFARMA sejak Juni 2011. Beliau berpengalaman di bidang farmasi, sebagai General Manager SDM PT Kimia Farma (1993-1995), Direktur Perencanaan dan Pengembangan PT Bio Farma (1995-2001), Direktur Utama PT. Bio Farma (2001-2007). Menerima “Professor DR.A.M. Kadarman Award” on the Strategic Change Leader di Tahun 2006, beliau juga aktif di Ikatan Apoteker Indonesia (IAI) sebagai Dewan Penasehat, Ketua Umum ISFI (1996-2000) dan sejak 2004 menjabat Dewan Penasehat Majalah Busines Review. Beliau aktif mengikuti seminar dan pelatihan di luar negeri antara lain “Self Reliance on Vaccine Production Meeting” oleh Asian Development Bank di Mesir (2007), dan The 4th WHO-UNICEF Consultation Meeting di Jenewa, Swiss (2005). Beliau meraih gelar sarjana farmasi dari Institut Teknologi Bandung pada 1970, gelar apoteker dari Institut Teknologi Bandung pada 1971 dan MBA dari Institut Pendidikan dan Pembinaan Manajemen (IPPM) pada 1991.
Prof. Dr. dr. H. Azrul Azwar, MPH
Komisaris Utama | President Commissioner
Drs. Mochamad Ichsani, MM
Komisaris | Commissioner
Dr. H. Chalik Masulili, MSc. (Alm.)
Komisaris | Commissioner
Dr. Nizar Yamanie Sp.S(K)
Komisaris | Commissioner
Drs. Marzuki Abdulah Apt, MBA
Komisaris | Commissioner
67 years old, he has been the President Commissioner of INDOFARMA since 2004. He is professor at the University of Indonesia and Rector of Binawan Institute of Health Sciences Jakarta. Azrul involve in many organizations, such as Indonesian Medical Association, President (1989-1991 and 1994-1997), Indonesian Planned Parenthood Associatiion, President (1997-2003), Indonesian Family Physician Association, President (1990-2006), University of Indonesia Alumni Association, President (1999-2007) and Indonesian Scout Movement, Chairman (2003-present). At the international level, Azrul also involve in many organizations such as Confederation of Medical Associaion in Asia and Oceanea, President (1989-1991), World Medical Association, President (1997-1998), Asean Primary Care Association, President (2007-2011), and Asean Scout Association, President (2007-2012). Azrul graduated as Medical Doctor (1972) and Public Health Specialist (1976) from University of Indonesia , Master of Public Health from University of Hawaii (1997) and Phd in Medicine from University of Indonesia (1996). Azrul was Dean of Faculty of Nursing University of Indonesia (1998-2005) and Director General of Community Health, MoH RI (1998-2005).
55 years old, he has been the Commissioner of INDOFARMA since August 2006. He appointed as Inspector of the State Ministry of State-owned Enterprises Affairs (2006–March 2012). He recieved the award of Satyalencana Karya Satya XX years from the goverment. He had been following career path as an auditor and held a position of Head of BPKP Ofice Province of Riau (2004–2005) and Director of Agrobusiness, Construction Industry and Trade Monitoring at BPKP (2005–2006). Obtained a irst degree in Accounting from Gadjah Mada University, Yogyakarta, in 1982, and Magister Manajemen specializing in Finance Management from STIE ABI, Surabaya, in 2003.
61 years old, he has been the Commissioner of INDOFARMA since May 2010. He is also the Head of Jamkesmas Management Team Secretariat (Central Ofice), the Country Coordination Mechanism (CCM) Head of Global Fund ATM and, in the professional organization, the Advisor of the Indonesian Hospital Association (Arsada, since 2002) and the Indonesian Provincial Health Ofices Association (Adinkes, since 2006). Prior to be the Expert Staff of Minister of Health on Public Financing and Empowerment, he held the position of the Head of the Health Promotion Center and the Head of the Health Insurance and Financing Center, he had been the Director of Koja Hospital and the Head of DKI Jakarta Provincial Health Ofice, obtained Doctor in Medicine and a master degrees in Public Health from the University of Indonesia.
59 years old, he has been the Independent Commissioner of INDOFARMA since May 2010. He also the Secretary of the Indonesian Ministry Medical Team (2008–present). He is the Chairman of Epilepsy Foundation of Indonesia Jakarta (PERPEI, 2002–present). He had been the Administration and Finance Coordinator of the Department of Neurology (1999–2004) and Head of the Department of Neurology, Faculty of Medicine, University of Indonesia (2005–2009), today as a Senior Lecturer in the Department of Medical Faculty, University of Indonesia. He had been the Vice Chairman of the Neurologist Association of Indonesia (PERDOSSI, 2008–2012). Obtained Doctor in Medical Faculty, University of Airlangga (1982) and a specialist brevet in neurology (in 1994) from the University of Indonesia.
67 Years, appointed as INDOFARMA commissioner since June 2011. He is
experienced in the pharmaceutical ield, as General Manager of Human
Resources PT Kimia Farma (1993-1995), Director of Planning and Development of PT Bio Farma (1995-2001), President Director of PT. Bio Farma (2001-2007). Received the "Professor DR.A.M. Kadarman Award "on the Strategic Change Leader in 2006, he was also active in the Association of Pharmacists of Indonesia (IAI) as an advisory board, Chairman ISFI (1996-2000) and since 2004 act as Advisory Board of Busines Review Magazine. He actively participates in seminars and training abroad, among others, "Self Reliance on Vaccine Production Meeting" by the Asian Development Bank in Egypt (2007), and the 4th WHO-UNICEF Consultation Meeting in Geneva, Switzerland (2005). He earned his pharmacy degree from Bandung Institute of Technology in 1970, a pharmacist degree from Bandung Institute of Technology in 1971 and an MBA from the Institute of Education and Development Management (IPPM) in 1991.
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Para pemegang saham, pemangku kepentingan, dan konsumen yang terhormat. Pada 2011, INDOFARMA melaksanakan sejumlah langkah penting.
Pertumbuhan proitabilitas yang baik, kinerja lini produk yang meningkat,
serta keberhasilan dalam mengendalikan biaya. Kestabilan ekonomi terutama dalam pengendalian nilai mata uang asing telah membantu Perseroan dalam mencapai peningkatan kinerja.
Pada tahun yang krusial ini, penjualan bersih meningkat sebesar 15%. Dengan upaya penataan portofolio penjualan produk yang dilakukan sejak tahun sebelumnya mulai memberikan hasil positif.
Maksimalisasi proporsi produk mendorong peningkatan marjin laba sebesar 3 kali lipat dari tahun sebelumnya, yaitu menjadi Rp 36,92 miliar dari Rp 12,55 miliar
Tahun 2011 merupakan pembelajaran berkelanjutan bagi Perseroan. Koordinasi yang lebih erat antar bidang di dalam organisasi Perseroan telah menciptakan suasana yang sangat kondusif dan kesadaran terhadap
pengeluaran biaya yang harus eisien dan efektif di semua lapisan karyawan.
Setiap peningkatan biaya usaha harus diimbangi dengan peningkatan margin laba Perseroan, di antaranya melalui penataan portofolio penjualan produk berkelanjutan. Upaya penataan portofolio penjualan produk yang dilakukan INDOFARMA sangat terarah karena didasarkan pada data riil yang diperoleh melalui pemantauan melekat manajemen rantai pasok yang merupakan integrator dalam sebuah proses bisnis yang panjang dan saling terkait. Dengan mengupayakan peningkatan proporsi kelompok produk yang menjanjikan marjin laba dan composite annual growth rate (CAGR) tinggi dan meminimalkan kelompok produk yang marjin laba maupun CAGR-nya rendah, Perseroan dapat melakukan portofolio penjualan produk yang sistematis dan berkelanjutan.
Pada 2011, peningkatan proporsi produk Kelompok I yang memberikan margin laba maupun CAGR tertinggi dan penurunan proporsi produk Kelompok IX yang memberikan marjin laba dan CAGR terendah (menjadi sekitar 13,5% dari 25,8% pada tahun sebelumnya) terbukti mempertebal marjin laba usaha Perseroan dari 5,39% menjadi 7,64%.
Sepanjang tahun 2011 hasil pencapaian bottom line lebih baik daripada tahun sebelumnya, pencapaian ini tidak terlepas dari keberhasilan pencapaian beberapa skala prioritas yang telah ditetapkan oleh manajemen Perseroan, yaitu:
• Penerapan Cash Management
INDOFARMA melakukan perhitungan yang cermat atas pemasukan dan pengeluaran melalui penerapan cash management yang terpadu. Upaya
ini memberikan dampak yang signiikan terhadap pemenuhan kewajiban
perseroan baik kepada kreditur maupun pemasok.
• Optimalisasi Pasar Obat Generik Berlogo
Segala aktivitas dilaksanakan dalam upaya menumbuhkan penjualan reguler lebih tinggi dari penjualan tender dari mulai awal tahun, sehingga Perseroan dapat memperoleh bottom line positif pada triwulan ketiga di mana tahun sebelumnya baru diperoleh pada akhir triwulan IV. Contoh aktivitas dimaksud
Dear Valued Shareholders, Stakeholders, and Customers. In 2011, INDOFARMA marked some important milestones. Proitability growth, better product line performance, and improvement of cost containment. Economic stability, more speciically with the close watch of currency exchange luctuation, had helped the company clinch a better performance outcome.
In this crucial year, net sales increased by 15%. With sales of portfolio restructuring efforts undertaken since the previous year began to give positive results.
Maximizing the proportion of products boost proit margins by 3-fold from a year earlier, to Rp 36.92 billion from Rp 12.55 billion
Year 2011 has been a year of sustainable learning for the company. Closer cross department coordination has created a conducive environment for raising cost conscious awareness at all layers of corporation. Cost concious is deemed important for the daily operational activities, in the sense that everybody understands that any increase in cost must be compensated with higher proit margin, among others is the restructuring of product portfolio sustainability. The attempt by INDOFARMA to restructure product portfolio is very much focused since it was using real time data obtained from close, embedded monitoring on company’s supply chain, the integrator of long yet interlinked of various business processes. With the attempt on product portfolio restructure to leverage products with higher margin and higher composite annual growth rate (CAGR) while at the same time minimizing products with lower margin and lower CAGR, the company is conident to be able to perform a systematic, sustainable product portfolio management.
In 2011, an increase in the proportion of Group I products that provide the highest CAGR of proit margins as well as product and decrease the proportion of group IX which gives the proit margins, and the lowest CAGR (to about 13.5% from 25.8% in the previous year) proved to strengthen the Company's operating proit margin from 5.39% to 7.64%.
The bottomline result obtained in year 2011 which is far better than previous year’ result is also attributed to the successful accomplishments of few strategic priorities, acted on by the Management, as the following:
• Implementation of Cash Management
INDOFARMA implemented detailed, accurate calculation in all revenue and expense items though integrated cash management system. This system provided signiicant impact on company’s attempt to meet its obligations to creditors and suppliers.
• Optimization of Generic Drug Products
Attemps have been made in order to make the revenues of regular sales exceed those of sales through tender right from the start of the year so the company could accomplish positive bottom line in the third quarter, better than last year’s result of which the positive results could only be obtained in
Laporan Direksi
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13
Laporan Tahunan | Annual Report 2011
Laporan Direktur Utama Report of The President Director
adalah: melakukan program multichannel distribution yang bersifat selektif, yang dalam hal ini untuk meningkatkan sebaran produk INDOFARMA baik secara nasional maupun lokal.
• Reposisi Portofolio Penjualan Produk
INDOFARMA melakukan portofolio penjualan produk untuk meningkatkan mutu kontribusi margin per kelompok produk yang berdampak pada perbaikan marjin usaha. Hal ini dilakukan untuk memperbaiki strategi dan fokus pemasaran sehingga penjualan produk-produk yang memiliki marjin tinggi dapat didorong mencapai kondisi optimum dan produk yang memiiki margin rendah dapat dikendalikan volume penjualannya. Dengan demikian INDOFARMA tetap dapat memasok kebutuhan semua produk di pasar dan dapat meningkatkan kepercayaan pelanggan.
• Peningkatan Pemanfaatan Kapasitas Produksi
Dengan penerapan prinsip operational excellence secara berkelanjutan, Perseroan memiliki kemampuan lebih untuk meningkatkan pemanfaatan kapasitas produksi yang telah memenuhi persyaratan c-GMP, sehingga dapat mengurangi kebutuhan Perseroan untuk melakukan toll-out manufacturing dan pada akhirnya dapat melaksanakan penghematan harga pokok penjualan.
• Mengoptimalkan Fungsi Supply Chain Management
Dengan semakin membaiknya perencanaan dan koordinasi dalam penyediaan produk selama 2011, Supply Chain Management berhasil melaksanakan perbaikan pendistribusian produk dan meningkatkan monitoring inventory baik berdasarkan target di setiap distributor maupun cabang distributor. Dengan demikian, telah dapat diminimalkan produk yang stock out atau lost opportunity dan mampu meningkatkan service level.
• Peningkatan Human Capital
Untuk meningkatkan kualitas Human Capital, Perseroan memberikan berbagai pendidikan dan pelatihan sesuai dengan kebutuhan kompetensinya masing-masing. Perseroan juga meneruskan kebijakan yang telah dilaksanakan pada tahun sebelumnya, yaitu: pengelolaan Human Capital berbasis kompetensi dan membangun budaya kerja yang sehat. Program pendidikan dan pelatihan yang terarah ini diharapkan dapat meningkatkan kualitas Human Capital yang dimiliki, sehingga Perseroan mampu menghadapi tantangan yang semakin
besar, tanpa harus menambah jumlah karyawan secara signiikan.
Sejalan dengan perubahan yang terjadi dalam dunia usaha, INDOFARMA tidak dapat lagi menerapkan pola lama. INDOFARMA berusaha untuk melakukan transformasi usaha sebagai upaya penyesuaian korporasi dengan perubahan lingkungan. Transformasi ini mutlak dilakukan oleh perusahaan secara berkelanjutan.
Upaya transformasi ini kami lakukan pada corporate culture (transformasi budaya), transformasi keuangan, transformasi bisnis, transformasi produksi, dan transformasi Human Capital. INDOFARMA lebih memfokuskan pada perubahan budaya perusahaan menjadi lebih baik. Akan tetapi, INDOFARMA juga tidak melupakan perlunya transformasi di bidang lainnya. INDOFARMA melihat tanpa adanya dukungan dari bagian lainnya maka tujuan transformasi budaya yang diinginkan oleh perusahaan tidak dapat berubah.
Kedepan INDOFARMA optimis pada prospek usaha yang masih memiliki pasar yang luas di Indonesia. INDOFARMA berkeyakinan bahwa obat generik tetap akan menjanjikan dan oleh karenanya akan senantiasa menjadi core business dari INDOFARMA.
Tingkat konsumsi masyarakat Indonesia yang tinggi, tidak diikuti dengan peningkatan kesadaran terhadap kesehatan. Masyarakat cenderung untuk memilih obat yang murah, sebagai salah satu solusi dalam mengatasi gangguan kesehatannya. INDOFARMA sebagai satu-satunya produsen obat generik yang murah dan berkualitas menjadi pilihan yang tepat bagi masyarakat sehingga pasar untuk obat generik masih terbuka lebar. Pada akhir 2011, INDOFARMA telah berhasil melaksanakan laporan terperinci tentang kinerja INDOFARMA sepanjang 2011 yang disampaikan pada bagian selanjutnya dari buku ini. Secara umum, kinerja Perseroan pada 2011 cukup mengesankan. Peluncuran sembilan item produk baru, satu di antaranya Obat Generik Bermerek yang diharapkan akan membuat portofolio penjualan produk lebih sehat, sehingga memberikan landasan yang kuat untuk pertumbuhan jangka panjang.
Namun demikian, di samping beberapa keberhasilan masih terdapat beberapa tantangan yang harus dilewati seperti perlunya mempertahankan dan bahkan meningkatkan standar fasilitas produksi yang mengacu pada International Best Practice. Hal ini hendaknya menjadi pendorong bagi seluruh insan INDOFARMA untuk tetap bersemangat dan bekerja keras. Kita percaya bahwa semua usaha pada saatnya akan membuahkan hasil yang manis.
Sebagai penutup, Direksi menyampaikan terima kasih yang sebesar-besarnya kepada kepada para pemegang saham, pelanggan, pemasok, dan seluruh mitra kerja serta seluruh karyawan atas dedikasi dan kontribusinya di tahun 2011. Kami meyakini dukungan dan komitmen yang telah terbangun selama ini akan membawa INDOFARMA memasuki fase percepatan pertumbuhan di masa depan.
Djakfarudin Junus
Direktur Utama
President Director
John Guntar Sebayang
Direktur
Director
Bambang Solihin Irianto
Direktur Director Eliano Rizaldi Direktur Director Kosasih Direktur Director
the fourth quarter. Example of these attempts is the selective multichannel distribution with the objective of improving INDOFARMA’s product distribution at local and national level.
• Reposition of Product Portofolio
INDOFARMA has been restructuring its product portfolio with the objective of having higher contribution margin for each product category with at the end would give impact to overall proit margin. The key was to develop a more focused marketing strategy utilizing higher margin products while controlling the volume of lower margin products. With these steps, INDOFARMA is well positioned to provide product demand in the market and building trust of its customers.
• Utilization of Production Capacity
With the continuous implementation of operational excellence Principles, the company was able to further utilize the production capacity with c-GMP certiied, as a result, the company could reduce the need for toll-out manufacturing and eventually could push down the cost of goods sold
• Optimalization of Supply Chain Management
With the improved product planning and coordination in 2011, Supply Chain Management has managed to realign company’s product distribution, and enhance inventory monitoring process based on the target of each distributor and branch. These measures have contributed to the minimized the stock outs or opportunity lost and on the other end, enhanced service level.
• Human Capital Development
The company is committed to quality development of its human capital. Various forms of education and trainings were provided according to the speciic competencies being developed. The company is extending last year’s policy of competence based human capital development and nurturance of healthy work culture. With these education and training programs, the company would have a more quality pool of human capital at its discretion, so the company is better positioned to cope with the increasing challenge in the future without necessarily having to add signiicant quantity of new employees.
In line with the changes in the business world, INDOFARMA can no longer apply the old pattern. INDOFARMA trying to transform the business as a means of adjustment to the changing corporate environment. This transformation is to be conducted by the company on an ongoing basis.
The transforms that we have been conducting encompass across the board aspects, to embrace other aspects such as corporate culture, inance, commercial, production, and human capital. INDOFARMA put priority on the cultural transforms whereas other transforms aspects are treated as complementaries. INDOFARMA is convinced that cultural transforms without complementary transforms in other aspects would only constraint the company to achieve the ultimate objective of conducting the cultural transforms itself. INDOFARMA optimistic on future business prospects that still has a vast market in Indonesia. INDOFARMA believes that generic drugs will remain promising and therefore will always be the core business of Indofarma.
Growing consumption level of Indonesian people apparently were not subsequently followed by growing awareness towards healthcare. People tend to choose cheap priced drugs as the solution to health problems. INDOFARMA as the only provider of affordable generic drugs with reliable quality is the people’s only choice. With such a huge market in Indonesia, the future business prospects for generic products are ripe and wide open.
At the end of 2011, INDOFARMA has completed a detailed performance report for the whole year which would follow in the remainder of this annual report. Generally, the company’s performance are excellent. There were nine new product launch, of which one was Branded Generic Product that would contribute to a more proitable product portfolio and would serve as a solid ground for the long term growth of the company.
Nevertheless, despite all the achievements we have obtained, there remain plenty of challenges to face and tackle such as maintaining and developing standard of production facility which complies to International Best Practice. These challenges shall be a trigger of commitment and perseverence for all employees of INDOFARMA to remain motivated and hardworking. We believe that all attempts we do would eventually, when the time comes, will give good result.
In closing the Board of Directors gave a big appreciate and thank you to all shreholders, customers, suppliers and all partners and employees for their dedication and contribution in 2011. We believe, the support and commitment that had been built during this phase will bring INDOFARMA acceleration of growth in the future.
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PTINDOFARMA(PERSERO)TBKͲINDUKPERUSAHAAN PTINDOFARMA(PERSERO)TbkͲHOLDINGCOMPANY
LAPORANPOSISIKEUANGAN STATEMENTSOFFINANCIALPOSITION
31Desember2011,31Desember2010,dan1Januari2010 Desember31,2011,December31,2010,andJanuary1,2010
(DinyatakandalamRupiahPenuh) (ExpressedinFullRupiah)
31Desember/ December31,2011
31Desember/ December31,2010
DisajikanKembali
1Januari/January
1,2010
ASET ASSETS
ASETLANCAR CURRENTASSETS
Kasdansetarakas 16.510.175.197 4.161.945.164 8.580.598.501 Cashandcashequivalent
Piutangusaha Tradereceivables
ͲPihakͲpihakberelasi 114.417.289.573 166.254.696.850 171.388.268.342
ͲPihakketiga(setelahdikurangicadangan Tradereceivables(Provisionforimpairment kerugianpenurunannilai31Desember2011 oftradereceivablesinDecember31,2011
:Rp6.849.079.424 :Rp6.849.079.424
31Desember2010:Rp6.351.896.087 December31,2010:Rp6.351.896.087 dan1Januari2010:Rp5.950.918.335) 13.941.742.655 176.102.786 8.533.496.255 andJanuary1,2010:Rp5.950.918.335) PiutanglainͲlain(setelahdikurangicadangan Otherreceivables(Provisionforimpairment
kerugianpenurunannilai31Desember2011 ofotherreceivablesinDecember31,2011
:Rp407.536.514 :Rp407.536.514
dan31Desember2010:Rp92.674.446 andDecember31,2010:Rp92.674.446
dan1Januari2010:Nihil) 3.544.920.988 3.597.045.292 3.622.909.897 andJanuary1,2010:Nil)
Persediaan(setelahdikurangipenyisihan Inventories(netofprovisionfor
persediaan31Desember2011 inventoryofDecember31,2011:
Rp8.545.460.697 Rp8.545.460.697
31Desember2010:Rp4.970.136.691 December31,2010:Rp4.970.136.691and
dan1Januari2010:Rp4.558.109.885) 133.128.738.034 88.754.042.544 84.528.731.357 January1,2010:Rp4.558.109.885)
Pajakdibayardimuka 4.002.999.961 4.144.777.964 2.740.170.333 Prepaidtaxes
Uangmukadanbiayadibayardimuka 4.498.761.018 4.143.518.610 4.260.943.824 Advanceandprepaidexpenses
Jumlahasetlancar 290.044.627.426 271.232.129.210 283.655.118.509 Subtotalofcurrentasset
ASETTIDAKLANCAR NONCURRENTASSETS
Investasipadaentitasasosiasi 791.027.336 791.027.336 791.027.336 Investmentsinassociates
Investasi Jangka Panjang 135 085 726 848 143 192 902 660 143 192 902 660 Longterm Investment
InvestasiJangkaPanjang 135.085.726.848 143.192.902.660 143.192.902.660 LongtermInvestment
Asetpajaktangguhan 13.008.966.928 11.554.362.705 10.197.908.414 Deferredtaxassets Asettetap(setelahdikurangiakumulasi Fixedassets(lessofaccumulateddepreciation
penyusutan31Desember2011: ofDecember31,2011:Rp138.925.640.068
Rp138.925.640.068 December31,2010:Rp130.239.430.120
31Desember2010:Rp130.239.430.120 andJanuary1,2010:
dan1Januari2010:Rp120.231.177.241) 320.987.949.963 86.398.244.142 91.893.769.746 Rp120.231.177.241)
AsetTidakLancaryangakanDitinggalkan 18.382.949.282 9.516.288.263 9.516.288.263 AbandonedNonCurrentAssets
AsetTakberwujud 2.323.782.500 1.716.289.860 121.339.098 Intangibleassets
JumlahAsetTidakLancar 490.580.402.856 253.169.114.966 255.713.235.517 Subtotalofnoncurrentasset
(2)
PTINDOFARMA(PERSERO)TBKͲINDUKPERUSAHAAN PTINDOFARMA(PERSERO)TbkͲHOLDINGCOMPANY
LAPORANPOSISIKEUANGAN STATEMENTSOFFINANCIALPOSITION
31Desember2011,31Desember2010,dan1Januari2010 December31,2011,December31,2010,andJanuary1,2010
(DinyatakandalamRupiahPenuh) (ExpressedinFullRupiah)
31Desember/ December31,2011
31Desember/ December31,2010
DisajikanKembali
1Januari/January
1,2010
LIABILITAS LIABILITIES
LIABILITASJANGKAPENDEK CURRENTLIABILITIES
Hutangbank 50.847.946.863 53.592.806.227 77.837.077.328 BankBorrowings
Hutangusaha Tradepayables
ͲPihakberelasi Ͳ 2.655.234.141 21.924.548.923
ͲPihakketiga 47.227.154.776 63.626.342.769 41.231.466.670
UangMukaPenjualan 557.085.033 700.565.925 725.345.733 Customersadvances
Hutangpajak 10.794.915.442 5.562.067.317 10.042.811.224 Taxespayables
Biayayangmasihharusdibayar 24.561.965.474 13.018.811.678 10.021.893.802 Accruedexpenses
HutangBankJk.panjangjatuhtempo 4.271.718.543 9.700.000.000 9.700.000.000
dalamsatutahun Ͳ Longtermbankborrowingsduedateoneyear
HutangsewagunausahaJk.panjang
jatuhtempodalamsatutahun 436.535.865 761.560.865 Leaseliabilitiesduetoinoneyear Jumlahliabilitasjangkapendek 138.697.321.995 149.617.388.922 171.483.143.680 Subtotalofcurrentliabilities LIABILITASJANGKAPANJANG
Hutangbankjangkapanjang Ͳ 4.571.718.543 14.571.718.543 Longtermbankborrowings
setelahdikurangibagianyang
jatuhtempodalamsatutahun
Hutangsewagunausahajangkapanjang Ͳ 323.725.573 1.177.592.865 Longtermleaseliabilities
Kewajibanmanfaatpekerja 36.419.668.452 34.417.177.141 31.288.310.920 Employeebenefitestimatedliabilities JumlahLiabilitasjangkapanjang 36.419.668.452 39.312.621.257 47.037.622.328 Subtotalofnoncurrentliabilities
JUMLAHLIABILITAS 175.116.990.447 188.930.010.179 218.520.766.008 TOTALLIABILITIES
EKUITAS EQUITY
EKUITAS EQUITY
EKUITASYANGDAPATDIATRIBUSIKANKEPADA PEMILIKENTITASINDUK
Modalsaham Capitalstock
ModaldasarͲ10Milyarsaham,Modal CapitalstockͲRp100parvalue
ditempatkandandisetorpenuh AuthorizedͲ10Billionshares,
tahun2011,2010dan2009sebanyak Subscribedandpaidup3.099.267.500 3.099.267.500lembarsaham 309.926.750.000 309.926.750.000 309.926.750.000 sharesbothin2011,2010and2009
Tambahanmodaldisetor 75.100.356.176 75.100.356.176 75.100.356.176 AdditionalpaidͲincapital
Saldolaba: Retainedearnings:
Ditentukanpenggunaannya Ͳ 13.980.477.188 13.980.477.188 Appropriated
Belumditentukanpenggunaannya 29.861.783.385 (63.536.349.367) (78.159.995.346) Unappropriated
Selisihpenilaianasetdanliabilitas 190.619.150.276 Differenceofrevaluationaseets
JUMLAHEKUITAS 605.508.039.836 335.471.233.997 320.847.588.018 TOTALEQUITY
(3)
PT
INDOFARMA
(PERSERO)
TBK
Ͳ
INDUK
PERUSAHAAN
PT
INDOFARMA
(PERSERO)
Tbk
ͲHOLDINGCOMPANY
LAPORAN
LABA
RUGI
KOMPREHENSIF
STATEMENTSOF
COMPREHENSIVE
INCOME
Untuk
Tahun
yang
Berakhir
Pada
31
Desember
2011
For
the
Year
Ended
December
31,
2011,
Serta
Tahun
yang
Berakhir
31
Desember
2010
and
for
The
Year
Ended
December
31,
2010
(DinyatakandalamRupiahPenuh)
(Expressed
in
Full
Rupiah)
31
Desember
/
December
31
,
2011
31
Desember
/
December
31
,
2010
PENJUALAN
BERSIH
500.800.808.982
470.734.635.114
NET SALES
BEBAN
POKOK
PENJUALAN
320.901.121.210
326.003.652.459
COST OF GOODS SOLD
LABA
BRUTO
179.899.687.772
144.730.982.655
GROSS PROFIT
BEBAN
USAHA
OPERATING EXPENSES
Beban
Penjualan
45.935.159.041
44.011.268.786
Sales
Beban
Umum
dan
Administrasi
69.950.012.927
57.768.706.041
General and administrative
Jumlah
Beban
Usaha
115.885.171.967
101.779.974.827
Total Operating Expense
LABA
(RUGI)
USAHA
64.014.515.805
42.951.007.828
INCOME FROM OPERATIONS
PENGHASILAN
(BEBAN)
LAIN
Ͳ
LAIN
OTHER INCOME/ (EXPENSES)
Beban
Keuangan
(12.830.319.709)
(15.577.441.954)
finance
Penghasilan
Bunga
65.449.016
72.736.698
Interest income
Laba
(rugi)
kurs
mata
uang
asing
Ͳ
bersih
(767.531.816)
76.336.099
Gain (loss) on foreign exchange - net
Kerugian
Penurunan
Nilai
Piutang
Lain
Ͳ
lain
(707.193.804,00)
(478.240.959)
Provision for impairment of others receivables
Pemulihan
Penurunan
Nilai
piutang
Lain
Ͳ
lain
799.868.250,00
Ͳ
Recovery From Impairement of Other Receivable
Kerugian
Penurunan
Nilai
Piutang
Usaha
(519.153.337,52)
(400.977.752)
Provision for impairment of receivables
Kerugian
penyisihan
persediaan
(5.925.902.819)
(1.696.977.929)
Provision of inventory
Kerugian
Penurunan
Nilai
Investasi
Ͳ
Ͳ
Provision for impairment of Investment
Lain
Ͳ
lain
Ͳ
bersih
(1.236.779.158)
(3.223.909.767)
Other - net
Jumlah
Beban
Diluar
Usaha
Ͳ
Bersih
(21.121.563.377)
(21.228.475.564)
TOTAL OTHER (EXPENSES)
LABA
SEBELUM
PAJAK
42.892.952.427
21.722.532.264
INCOME BEFORE TAX
PENGHASILAN
(BEBAN)
PAJAK
TAX (EXPENSES)/ BENEFIT
Pajak
Kini
(14.485.773.250)
(8.455.340.575)
Current
Pajak
Tangguhan
1.454.604.207
1.356.454.290
Deffered
Jumlah
Penghasilan
(Beban)
Pajak
(13.031.169.043)
(7.098.886.285)
LABA
TAHUN
BERJALAN
29.861.783.385
14.623.645.979
NET INCOME
PENDAPATAN
KOMPREHENSIF
LAIN
Ͳ
Ͳ
OTHER COMPREHENSIVE INCOME
TOTAL
LABA
KOMPREHENSIF
(4)
PTINDOFARMA(PERSERO)Tbk
PT
INDOFARMA
(PERSERO)
Tbk
Ͳ
HOLDING
COMPANY
LAPORANPERUBAHANEKUITAS STATEMENTSOFCHANGESINEQUITY
UNTUKTAHUNYANGBERAKHIR31DESEMBER2011,PERIODESEMBILANBULANYANG FORTHEYEARENDEDDECEMBER31,2011,FORTHENINEMONTHSPERIODENDED
BERAKHIR30SEPTEMBER2011,PERIODETIGABULANBULANYANGBERAKHIR31DESEMBER2011, SEPTEMBER30,2011,FORTHETHREEMONTHSENDEDDECEMBER31,2011,
DANTAHUNYANGBERAKHIR31DESEMBER2010 ANDFORTHEYEARENDEDDECEMBER31,201
(DinyatakandalamRupiahPenuh) (ExpressedinFullRupiah)
Saldo
per
1
Januari
2010
309.926.750.000
75.100.356.176
Ͳ
13.980.477.188
(78.159.995.346)
320.847.588.018
Balance,
January
1
,2010
Perubahan
kebijakan
akuntansi
Ͳ
Ͳ
Ͳ
Ͳ
Ͳ
Ͳ
Changes
from
adoption
of
Statement
of
Financial
Accounting
Standard
Saldo
yang
disajikan
kembali
309.926.750.000
75.100.356.176
Ͳ
13.980.477.188
(78.159.995.346)
320.847.588.018
Restatement
of
balance
Perubahan
ekuitas
pada
tahun
2010
Ͳ
Ͳ
Ͳ
Ͳ
Ͳ
Ͳ
Deviden
Ͳ
Ͳ
Ͳ
Ͳ
Ͳ
Ͳ
Dividen
Laba
komprehensif
tahun
berjalan
Ͳ
Ͳ
Ͳ
Ͳ
(14.623.645.979)
(14.623.645.979)
Net
Comprehensive
Income
Ͳ
Saldo
per
31
Desember
2010
309.926.750.000
75.100.356.176
Ͳ
13.980.477.188
(63.536.349.367)
335.471.233.997
Balance,
December
31,
2010
Selisih
Penilaian
Aset
Ͳ
Ͳ
240.175.022.455
Ͳ
Ͳ
240.175.022.455
Difference
of
revaluation
aseets
Penentuan
Kembali
Saldo
Laba
Ͳ
Ͳ
(13.980.477.188)
13.980.477.188
Ͳ
Re
Ͳ
used
retained
earnings
Perjumpaan
Saldo
Laba
Negatif
309.926.750.000
75.100.356.176
240.175.022.455
Ͳ
(49.555.872.179)
575.646.256.452
Set
off
deficit
retained
earning
Transfer
Saldo
Laba
Ͳ
Ͳ
(49.555.872.179)
Ͳ
49.555.872.179
Ͳ
Transfer
deficit
Saldo
per
1
Oktober
2011
Ͳ
Balance,
October
1,
2011
Setelah
Kuasi
Ͳ
Reorganisasi
309.926.750.000
75.100.356.176
190.619.150.276
Ͳ
Ͳ
575.646.256.452
After
Quasi
Reorganization
Laba
komprehensif
Ͳ
Ͳ
Ͳ
29.861.783.385
29.861.783.385
Net
Comprehensive
Income
Saldo
per
31
Desember
2011
309.926.750.000
75.100.356.176
190.619.150.276
Ͳ
29.861.783.385
605.508.039.836
Balance,
December
31,
2011
19.917.686.235
Total
Ekuitas
/
Total
Equity
Ditentukan
Penggunaannya
/
Tidak
Ditentukan
Penggunaannya
/
Modal
Disetor
/
Fully
Paid
Capital
Tambahan
Modal
Disetor
/
Additional
Paid
in
Capital
Selisih
Penilaian
Aset
/
Difference
of
Revaluation
Assets
(5)
PT
INDOFARMA
(PERSERO)
TBK
Ͳ
INDUK
PERUSAHAAN
PT
INDOFARMA
(PERSERO)
Tbk
Ͳ
HOLDING
COMPANY
LAPORAN
ARUS
KAS
STATEMENTOFCASHFLOW
UntukTahunyangBerakhirPada31Desember2011
FortheYearEndedDecember31,2011,
SertaTahunyangBerakhir31Desember2010
andforTheYearEndedDecember31,2010
(Dinyatakan
dalam
Rupiah
Penuh)
(Expressed
in
Full
Rupiah)
31
Desember
/
December
31
,
2011
31
Desember
/
December31
,
2010
ARUS
KAS
DARI
AKTIVITAS
OPERASI
CASHFLOWFROMOPERATING
ACTIVITIES
Penerimaan
kas
dari
pelanggan
589.970.705.896
503.465.007.010
Cash
receipts
from
costumers
Pembayarankaskepadapemasokdankaryawan
(519.827.125.501)
(420.213.475.854)
Cash
paid
to
supplies
and
employees
Pajakpenghasilan
(28.496.300.828)
(34.005.856.610)
Income
tax
paid
Pembayaranbunga
(12.892.380.908)
(15.577.441.954)
Interest
paid
Penerimaanrestitusipajak
462.438.565
Ͳ
Tax
refund
29.217.337.224
33.668.232.592
ARUS
KAS
DARI
AKTIVITAS
INVESTASI
PenerimaanPenghasilanBungaSimpanan
Ͳ
72.736.698
Income
received
from
bank
interest
PerolehanAsetTetap
(3.425.481.815)
(3.991.687.626)
Acquisitions
of
property,
plant,
equiment
(3.425.481.815)
(3.918.950.928)
Net
cash
used
for
investing
activities
ARUS
KAS
DARI
AKTIVITAS
PENDANAAN
PenerimaanHutangBank
Ͳ
Ͳ
Bank
borrowings
PembayaranHutangBank
(15.283.520.364)
(34.244.271.101)
Payments
of
bank
borrowings
(15.283.520.364)
(34.244.271.101)
KENAIKAN
(PENURUNAN)
BERSIH
KAS
DAN
SETARA
KAS
10.508.335.045
(4.494.989.437)
KAS
DAN
SETARA
KAS
AWAL
PERIODE
4.161.945.163
8.580.598.501
PengaruhPerubahanKursMataUangAsing
1.839.894.988
76.336.099
Effects
of
foreign
exchange
rate
changes
KAS
DAN
SETARA
KAS
AKHIR
PERIODE
16.510.175.197
4.161.945.164
CASHANDCASHEQUIBALENTSATBEGINNING
OFTHEYEAR
CASHANDCASHEQUIBALENTSATENDOFTHE
YEAR
Kas
Bersih
Diperoleh
dari
(Digunakan
untuk)
Net
cash
provided
by
(used
for)
operating
Kas
Bersih
Diperoleh
dari
(Digunakan
untuk)
Kas
Bersih
Diperoleh
dari
(Digunakan
untuk)
Net
cash
provided
by
(used
for)
financing
INCREASE
(DECREASE)
IN
CASH
AND
CASH
(6)