Krakatau Steel Bilingual US Dollar 30 Juni 2018 Released (1)

  PT Krakatau Steel (Persero) Tbk dan entitas anaknya/and its subsidiaries

Laporan keuangan konsolidasian interim tanggal 30 Juni 2018

dan periode enam bulan yang berakhir pada tanggal tersebut/

Interim consolidated financial statements as of June 30, 2018

and for the six-month period then ended

  The original interim consolidated financial statements included herein are in the Indonesian language.

  PT KRAKATAU STEEL (PERSERO) TBK PT KRAKATAU STEEL (PERSERO) TBK

  

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES

LAPORAN KEUANGAN KONSOLIDASIAN INTERIM

  INTERIM CONSOLIDATED FINANCIAL TANGGAL 30 JUNI 2018 STATEMENTS AS OF JUNE 30, 2018

  DAN UNTUK PERIODE ENAM BULAN YANG AND FOR THE SIX-MONTH BERAKHIR PADA TANGGAL TERSEBUT PERIOD THEN ENDED

  Halaman/

  Daftar Isi Page Table of Contents

  Laporan Posisi Keuangan Konsolidasian Interim Consolidated Statement of Financial Interim .................................................................... 1 - 3 ...................................................................Position

  Laporan Laba Rugi dan Penghasilan Komprehensif Interim Consolidated Statement of Profit or Loss Lain Konsolidasian Interim ..................................... 4 - 5 ......................... and Other Comprehensive Income

  Laporan Perubahan Ekuitas Konsolidasian Interim Consolidated Statement of Changes Interim .................................................................... 6 ..................................................................in Equity Laporan Arus Kas Konsolidasian Interim ..................... 7 ........... Interim Consolidated Statement of Cash Flows Catatan atas Laporan Keuangan Konsolidasian Notes to the Interim Consolidated Financial

  Interim .................................................................... 8 - 213 ............................................................. Statements

  

PT KRAKATAU STEEL (PERSERO) Tbk PT KRAKATAU STEEL (PERSERO) Tbk

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES

LAPORAN POSISI KEUANGAN

  INTERIM CONSOLIDATED STATEMENT OF KONSOLIDASIAN INTERIM FINANCIAL POSITION

Tanggal 30 Juni 2018 As of June 30, 2018

(Disajikan dalam ribuan Dolar AS,

  (Expressed in thousands of US Dollar,

kecuali dinyatakan lain) unless otherwise stated)

30 Juni 2018/

  31 Des. 2017/ Catatan/ Notes June 30, 2018 Dec. 31, 2017 ASET LANCAR

CURRENT ASSETS

  Kas dan setara kas 228.061 280.870 Cash and cash equivalents 2c,2e,2f,2g 4,9,35,39

  • Investasi jangka pendek

  1.734 2e,2g,5,35,39 Short-term investment

  2c,2e,2f,2g Kas yang dibatasi penggunaannya 6,9,17,35 1.789 5.758 Restricted cash Piutang usaha 2e,2g,3,7,

  Trade receivables Pihak ketiga 17,24,35,39 143.906 147.976 Third parties Pihak berelasi 2c,9 76.829 56.714 Related parties

  Piutang lain-lain 2e,2g,8, Other receivables

  Pihak ketiga 20,35,39 4.839 6.252 Third parties Pihak berelasi 2c,9 10.103 10.598 Related parties Persediaan 2h,3,10,17,24 527.744 488.502 Inventories Uang muka dan biaya dibayar

di muka 2i,11 19.364 15.083 Advances and prepaid expenses

Pajak dibayar di muka 2t,21 13.256 8.210 Prepaid taxes

  Total Aset Lancar 1.025.889 1.021.697 Total Current Assets ASET TIDAK LANCAR

NON-CURRENT ASSETS

  Estimasi tagihan pajak 2t,21 37.036 31.741 Estimated claims for tax refund 2e,2g,2j, Penyertaan saham 12,35 119.295 129.248 Investments in shares of stock Aset pajak tangguhan 2t,3,21 136.185 135.280 Deferred tax assets Aset tetap 2k,3,13,17,24 2.641.640 2.624.457 Fixed assets Properti investasi 2l,3,14 38.165 38.692 Investment properties Aset takberwujud 2v,15,37 29.852 34.690 Intangiable assets Aset tidak lancar lain-lain

  Other non-current assets Piutang jangka panjang 2c,2g,16,35 2.593 2.947 Long-term receivables Aset real estat 2m 16.280 15.345 Real estate assets Aset yang tidak digunakan dalam operasi 2k,13 1.351 1.490 Assets not used in operations

  2c,2e,2f,2g Kas yang dibatasi penggunaannya 24,35,39 30.780 31.330 Restricted cash 2g,2k Lain-lain 35,37,39 61.280 47.469 Others

  Total Aset Tidak Lancar 3.114.456 3.092.689 Total Non-Current Assets TOTAL ASET 4.140.345 4.114.386 TOTAL ASSETS

Catatan atas laporan keuangan konsolidasian interim The accompanying notes to the interim consolidated financial

terlampir merupakan bagian yang tidak terpisahkan dari statements form an integral part of these consolidated laporan keuangan konsolidasian secara keseluruhan. financial statements taken as a whole.

  1

  

PT KRAKATAU STEEL (PERSERO) Tbk PT KRAKATAU STEEL (PERSERO) Tbk

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES LAPORAN POSISI KEUANGAN

INTERIM CONSOLIDATED STATEMENT OF

  KONSOLIDASIAN INTERIM (lanjutan) FINANCIAL POSITION (continued)

  

Tanggal 30 Juni 2018 As of June 30, 2018

(Disajikan dalam ribuan Dolar AS, (Expressed in thousands of US Dollar,

kecuali dinyatakan lain) unless otherwise stated)

30 Juni 2018/

  31 Des. 2017/ Catatan/ Notes June 30, 2018 Dec. 31, 2017

LIABILITAS DAN EKUITAS

  LIABILITIES AND SHAREHOLDER’S EQUITY

LIABILITAS JANGKA PENDEK

  2c,2e,2g, 6,7,9,10,13 Pinjaman jangka pendek 17,35,39 1.071.045 923.127 Short-term loans Utang usaha 2e,2g

  Trade payables Pihak ketiga 18,35,39 104.886 148.824 Third parties Pihak berelasi 2c,9 110.419 102.191 Related parties

  Utang lain-lain 2e,2g Other payables

  Pihak ketiga 19,35,39 7.927 10.777 Third parties Pihak berelasi 2c,9 3.500 5.643 Related parties Utang pajak 2t,3,21 7.494 13.522 Taxes payable 2e,2g Beban akrual 22,35,39 45.444 28.236 Accrued expenses Liabilitas imbalan kerja jangka

  Short-term employee benefits pendek 2g,2s,3,26 10.061 17.458 liabilities Uang muka penjualan dan lainnya 2c,2e,9,23,39 36.984 41.038 Sales and other advances

  Bagian pinjaman jangka panjang 2c,2e,2g,7,

yang jatuh tempo dalam waktu 9,10,13,24 Current maturities of long-term

satu tahun 35,39 64.872 70.444 loans Bagian liabilitas keuangan jangka

panjang yang jatuh tempo dalam 2e,2g,25 Current maturities of long-term

waktu satu tahun 35,39 713 645 financial liabilities

  Total Liabilitas Jangka Pendek 1.463.345 1.361.905 Total Current Liabilities LIABILITAS JANGKA PANJANG

NON-CURRENT LIABILITIES

  Liabilitas pajak tangguhan 2t,3,21 1.595 326 Deferred tax liabilities Uang muka konstruksi, bagian jangka Advances for construction, panjang 2f,23,39

  

82

87 long-term portion Pinjaman jangka panjang, setelah 2c,2e,2g

dikurangi bagian yang jatuh tempo 7,9,10,13 Long-term Loans, net of current

dalam waktu satu tahun 23,35,39 827.812 797.864 maturities

  Liabilitas jangka panjang, setelah

dikurangi bagian yang jatuh 2e,2g,25 Long-term liabilities, net of current

tempo dalam waktu satu tahun 35,39 47.840 48.805 maturities Liabilitas Imbalan kerja jangka

  Long-term employee benefits panjang 2s,3,26 51.530 52.590 liabilities

  Total Liabilitas Jangka Panjang 928.859 899.672 Total Non-Current Liabilities TOTAL LIABILITAS 2.392.204 2.261.577 TOTAL LIABILITIES

Catatan atas laporan keuangan konsolidasian interim The accompanying notes to the interim consolidated financial

terlampir merupakan bagian yang tidak terpisahkan dari statements form an integral part of these consolidated laporan keuangan konsolidasian secara keseluruhan. financial statements taken as a whole.

  2

30 Juni 2018/

  Series B shares Modal ditempatkan dan disetor

  Catatan/ Notes

  Owners of the Parent Entity Kepentingan Nonpengendali (5.906) (6.182) Non-controlling Interests TOTAL EKUITAS 1.748.141 1.852.809 TOTAL EQUITY TOTAL LIABILITAS DAN EKUITAS 4.140.345 4.114.386 TOTAL LIABILITIES AND EQUITY

  Total Equity Attributable to Kepada Pemilik Entitas Induk 1.754.046 1.858.991

  Dicadangkan 146.834 146.834 Appropriated Tidak dicadangkan (766.201) (750.189) Unappropriated Total Ekuitas Yang Dapat Diatribusikan

  Saldo laba (akumulasi kerugian) losses)

  Penghasilan komprehensif lain 2k,2s,13,16,26 1.263.702 1.352.636 Other comprehensive income Retained earnings (accumulated

  Dwiwarna dan 19.346.396.899 share and 19,346,396,899 saham Seri B 28 987.573 987.573 Series B shares Tambahan modal disetor, neto 1b,2p,29 122.137 122.137 Additional paid-in capital, net

   19,346,396,900 shares which yang terdiri dari 1 saham Seri A consist of 1 Series A Dwiwarna

  Issued and fully paid - penuh - 19.346.396.900 saham

  Catatan atas laporan keuangan konsolidasian interim terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan.

  The accompanying notes to the interim consolidated financial statements form an integral part of these consolidated financial statements taken as a whole.

  Modal Dasar - 40.000.000.000 saham Authorized capital - 40,000,000,000 yang terdiri dari 1 saham Seri A shares which consist of 1 Series A

  Share capital Nilai nominal Rp500 (angka penuh) par value Rp500 (full amount) per saham per share

  ENTITY Modal saham

  EQUITY ATTRIBUTABLE TO DIATRIBUSIKAN KEPADA PEMILIK OWNERS OF THE PARENT ENTITAS INDUK

  EKUITAS EQUITY EKUITAS YANG DAPAT

  31 Des. 2017/ June 30, 2018 Dec. 31, 2017

  INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION (continued) As of June 30, 2018 (Expressed in thousands of US Dollar, unless otherwise stated)

  DAN ENTITAS ANAKNYA LAPORAN POSISI KEUANGAN KONSOLIDASIAN INTERIM (lanjutan) Tanggal 30 Juni 2018 (Disajikan dalam ribuan Dolar AS, kecuali dinyatakan lain) PT KRAKATAU STEEL (PERSERO) Tbk AND ITS SUBSIDIARIES

  3 PT KRAKATAU STEEL (PERSERO) Tbk

  Dwiwarna dan 39.999.999.999 Dwiwarna share and 39.999.999.999 saham Seri B

  

PT KRAKATAU STEEL (PERSERO) Tbk PT KRAKATAU STEEL (PERSERO) Tbk

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES LAPORAN LABA RUGI DAN

  INTERIM CONSOLIDATED STATEMENT OF PENGHASILAN KOMPREHENSIF LAIN PROFIT OR LOSS AND OTHER

KONSOLIDASIAN INTERIM COMPREHENSIVE INCOME

Untuk Periode Enam Bulan yang For the Six-Month Period Ended

Berakhir pada Tanggal 30 Juni 2018

  June 30, 2018

(Disajikan dalam ribuan Dolar AS, (Expressed in thousands of US Dollar,

kecuali dinyatakan lain) unless otherwise stated)

  30 Juni 2018/ Catatan/

  30 Juni 2017/ Notes

  June 30, 2018 June 30, 2017

2c,2q,9,

  PENDAPATAN NETO 854.270 31,41 633.979 NET REVENUES 2c,2k,2q,9,

  BEBAN POKOK PENDAPATAN (753.878) 32,41 (540.866) COST OF REVENUES LABA BRUTO 100.393 93.113 GROSS PROFIT

2c,2i,2k

Beban Penjualan (15.011) 2q,2s,9,33 (12.747) Selling expenses

  

2c,2i,2k,

Beban umum dan administrasi (76.503) 2q,2s,9,33 (83.818) General and Administrative expenses Penjualan limbah produksi 2.293 1.717 Sales of waste products Laba (rugi) pelepasan aset tetap - (165) Gain (loss) on disposal of fixed assets Pendapatan operasi lainnya 5.016 2g,2q,12 7.889 Other operating income Beban operasi lainnya (6.844) 13,21 (1.544) Other operating expenses LABA OPERASI 9.342 4.445

  OPERATING PROFIT Bagian rugi dari entitas asosiasi dan

  Share in loss of associates and ventura bersama (9.652) 12 (24.466) joint venture Pendapatan keuangan 8.093 8.362 Finance income

  Pajak terkait pendapatan keuangan (1.619) (1.055) Tax relating to finance income Laba (rugi) selisih kurs, neto 32.626 2e,2g,19 (5.760) Gain (loss) on foreign exchange, net Beban keuangan (49.366) 17,24 (49.779) Finance expenses RUGI SEBELUM PAJAK FINAL DAN

  LOSS BEFORE FINAL TAX AND BEBAN (MANFAAT) PAJAK

  INCOME TAX BENEFIT PENGHASILAN (10.574) (68.253) (BENEFIT) Pajak final (1.549) 2t,21 (1.524) Final tax RUGI SEBELUM BEBAN (MANFAAT)

  LOSS BEFORE INCOME PAJAK PENGHASILAN (12.124) (69.777) TAX EXPENSE (BENEFIT) BEBAN (MANFAAT) PAJAK

  INCOME TAX EXPENSE PENGHASILAN 3.569 21 (9.656)

  (BENEFIT) RUGI PERIODE BERJALAN (15.693) (60.121) LOSS FOR THE PERIOD

  

Catatan atas laporan keuangan konsolidasian interim The accompanying notes to the interim consolidated financial

terlampir merupakan bagian yang tidak terpisahkan dari statements form an integral part of these consolidated laporan keuangan konsolidasian secara keseluruhan. financial statements taken as a whole.

  4

  

PT KRAKATAU STEEL (PERSERO) Tbk PT KRAKATAU STEEL (PERSERO) Tbk

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES LAPORAN LABA RUGI DAN

  INTERIM CONSOLIDATED STATEMENT OF PENGHASILAN KOMPREHENSIF LAIN PROFIT OR LOSS AND OTHER

KONSOLIDASIAN INTERIM (lanjutan) COMPREHENSIVE INCOME (continued)

Untuk Periode Enam Bulan yang For the Six-Month Period Ended

  Berakhir pada Tanggal 30 Juni 2018 June 30, 2018

  

(Disajikan dalam ribuan Dolar AS, (Expressed in thousands of US Dollar,

kecuali dinyatakan lain) unless otherwise stated)

  30 Juni 2018/ Catatan/

  30 Juni 2017/ Notes

  June 30, 2018 June 30, 2017 PENGHASILAN KOMPREHENSIF LAIN

  OTHER COMPREHENSIVE INCOME Pos-pos yang tidak akan

  Items that will not be reclassified direklasifikasi ke laba rugi to profit or loss

  Pengukuran kembali program Remeasurement of defined imbalan pasti 2s (8.291) benefits program - Surplus (defisit) revaluasi aset tetap (76.734) 2k,12,13 104.221 Revaluation surplus (deficit) of fixed assets

  Pajak penghasilan terkait pos-pos yang tidak akan direklasifikasi Income tax relating to items that will

  • ke laba rugi 21 1.658 not be reclassified to profit or loss

  Pos yang akan direklasifikasi Item that may be reclassified ke laba rugi to profit or loss

  Difference in foreign currency Selisih kurs karena penjabaran translation of the financial laporan keuangan entitas anak statements of the subsidiarie, asosiasi dan ventura bersama, neto (12.242) 2b,2j 2.703 associates and joint venture, net Pajak penghasilan terkait pos yang akan direklasifikasi

  Income tax relating to item that may be ke laba rugi - 21 reclassified to profit or loss -

  TOTAL PENGHASILAN (RUGI) KOMPREHENSIF TOTAL COMPREHENSIVE INCOME

  PERIODE BERJALAN (104.669) 40.170 (LOSS) FOR THE PERIOD RUGI PERIODE BERJALAN YANG LOSS FOR THE PERIOD

  DAPAT DIATRIBUSIKAN KEPADA: ATTRIBUTABLE TO:

  Pemilik entitas induk (16.012) 34 (56.700) Owners of the parent entity Kepentingan nonpengendali 319 2b,27 (3.421) Non-controlling interests TOTAL (15.693) (60.121) TOTAL TOTAL PENGHASILAN (RUGI)

  TOTAL COMPREHENSIVE INCOME KOMPREHENSIF PERIODE BERJALAN (LOSS) FOR THE PERIOD

  YANG DAPAT DIATRIBUSIKAN KEPADA: ATTRIBUTABLE TO:

  Pemilik entitas induk (104.945) 43.555 Owners of the parent entity Kepentingan nonpengendali 276 2b,27 (3.385) Non-controlling interests TOTAL (104.669) 40.170 TOTAL RUGI PER SAHAM DASAR

  BASIC LOSS PER SHARE YANG DAPAT DIATRIBUSIKAN ATTRIBUTABLE TO OWNERS KEPADA PEMILIK ENTITAS INDUK

  OF THE PARENT ENTITY (dalam Dolar AS penuh) (0,0008) 2u,34 (0,0029) (in full US Dollar amount)

  

Catatan atas laporan keuangan konsolidasian interim The accompanying notes to the interim consolidated financial

terlampir merupakan bagian yang tidak terpisahkan dari statements form an integral part of these consolidated laporan keuangan konsolidasian secara keseluruhan. financial statements taken as a whole.

  5

DAN ENTITAS ANAKNYA

  AND ITS SUBSIDIARIES LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN INTERIM

INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

  Untuk Periode Enam Bulan yang Berakhir pada Tanggal 30 Juni 2018 For the Six-Month Period Ended June 30, 2018

  (Disajikan dalam ribuan Dolar AS, kecuali dinyatakan lain) (Expressed in thousands of US Dollar, unless otherwise stated) Ekuitas yang Dapat Diatribusikan Kepada Pemilik Entitas Induk/ Equity Attributable to Owners of the Parent Entity

   Penghasilan Komprehensif Lainnya/ Other Comprehensive Income Selisih Kurs karena penjabaran Laporan Keuangan Entitas Anak, Asosiasi dan Ventura Bersama/ Saldo Laba (Akumulasi Kerugian)/ Difference in Foreign Retained Earnings (Accumulated Modal Saham Tambahan Surplus Total Currency Translation Losses) Ditempatkan Modal Revaluasi Penghasilan of the Financial dan Disetor Disetor, neto Statement of Aset Tetap/ Lainnya/ Total Kepentingan Penuh/ Issued / Additional Tidak Subsidairies, Revaluation Other nonpengendali/

  

Catatan / and Fully Paid Paid-in Dicadangkan/ dicadangkan/ Associates and Joint Surplus of Comprehensive Total/ Non-controlling Total Ekuitas/

Appropriated Unappropriated*)

Notes Share Capital Capital, net Venture Fixed Assets Income Total interests Total Equity

Saldo pada tanggal 1 Januari 2017 987.573 122.137 146.834 (658.631) (60.973) 1.304.660 1.243.687 1.841.600 (1.923) 1.839.677 Balance as of January 1, 2017

  (56.700) - - - (56.700) (3.421) (60.121) Loss for the period - -

  • Rugi periode berjalan Penghasilan (rugi) komprehensif lain

  (6.631) - 2.697 - 104.189 - 106.886 100.255 36 100.291 Other comprehensive income (loss) Total penghasilan (rugi) komprehensif periode

  (63.331) 2.697 104.189 106.886 43.555 (3.385) 40.170 - Total comprehensive income (loss) for the period - - berjalan

  Saldo pada tanggal 30 Juni 2017 Balance as of June 30, 2017

  

(tidak diaudit) 987.573 122.137 146.834 (721.962) (58.276) 1.408.849 1.350.573 1.885.155 (5.308) 1.879.847 (unaudited)

Saldo pada tanggal 1 Januari 2018 987.573 122.137 146.834 (750.189) (61.474) 1.414.110 1.352.635 1.858.990 (6.182) 1.852.809 Balance as of January 1, 2018

(16.012) - - - Rugi periode berjalan

  • - - - (16.012) 319 (15.693) Loss for the period

  (12.230) - Penghasilan (rugi) komprehensif lain (76.703) (88.933) (88.933) (43) (88.975) Other comprehensive income (loss)

  • - - -

  Total penghasilan (rugi) komprehensif periode berjalan

  • (16.012) (12.230) (76.703) (88.933) (104.945) 276 (104.668) Total comprehensive income (loss) for the period

  Saldo pada tanggal 30 Juni 2018 Balance as of June 30, 2018

  

(tidak diaudit) 987.573 122.137 146.834 (766.201) (73.704) 1.337.406 1.263.702 1.754.046 (5.906) 1.748.141 (unaudited)

  • *) Retained earnings (accumulated losses) included remeasurement of defined benefits program

  

Catatan atas laporan keuangan konsolidasian interim terlampir merupakan bagian yang The accompanying notes to the interim consolidated financial statements form an integral part of

tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan. these consolidated financial statements taken as a whole.

  6

  

PT KRAKATAU STEEL (PERSERO) Tbk PT KRAKATAU STEEL (PERSERO) Tbk

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES LAPORAN ARUS KAS KONSOLIDASIAN INTERIM

  INTERIM CONSOLIDATED STATEMENT OF Untuk Periode Enam Bulan yang Berakhir CASH FLOWS pada Tanggal 30 Juni 2018

  For the Six-Month Period Ended June 30, 2018

(Disajikan dalam ribuan Dolar AS, (Expressed in thousands of US Dollar,

kecuali dinyatakan lain) unless otherwise stated)

  30 Juni 2018/

  30 Juni 2017/

Catatan/

  Notes June 30, 2018 June 30, 2017

  ARUS KAS DARI AKTIVITAS CASH FLOWS FROM OPERATING OPERASI

  ACTIVITIES Penerimaan dari pelanggan 846.550 705.507 Receipts from customers Penerimaan dari tagihan pajak 3.426 17.074 Receipts from claims for tax refund Penerimaan dari pendapatan bunga 8.016 7.364 Receipts from interest income Pembayaran kepada pemasok (912.601) (639.645) Payments to suppliers Pembayaran beban usaha

  Payments for operating expenses dan lainnya (18.928) (25.693) and others Pembayaran kepada karyawan (86.822) (66.710) Payments to employees

  Pembayaran untuk pajak (25.615) (14.422) Payments for taxes Pembayaran untuk beban bunga Payments for interest and bank dan beban bank (8.308) (5.543) charges

  Kas neto yang digunakan untuk Net cash used in aktivitas operasi (194.282) (22.068) operating activities ARUS KAS DARI AKTIVITAS

  CASH FLOWS FROM INVESTING

  INVESTASI ACTIVITIES

  Penarikan (penempatan) investasi Withdrawal (placement) of short-term jangka pendek 1.734 5 (759) investments Hasil dari penjualan dan pelepasan aset

  Proceeds from sale and disposal tetap dan aset tidak digunakan of fixed asset and assets

  75 - dalam operasi and investment property

  Penerimaan deviden kas 237 12 167 Cash dividends received Penambahan penyertaan pada saham (48) Additional investments in shares of stock - Penarikan kas yang dibatasi

penggunaannya 4.519 6.303 Placement of restricted cash

Penambahan aset tetap (55.928) 13,14 (57.190) Purchase of fixed assets Kas neto yang digunakan untuk

  Net cash used in investing aktivitas investasi (49.438) (51.452) activities ARUS KAS DARI AKTIVITAS

  CASH FLOWS FROM FINANCING PENDANAAN ACTIVITIES

  Penerimaan pinjaman jangka panjang 60.436 25.793 Proceeds from long-term loans Penerimaan pinjaman Proceed from Short-term jangka pendek, neto 181.503 17 126.902 loans, net Pembayaran pinjaman jangka panjang (19.603) (17.644) Repayments of long-term loans

  Pembayaran untuk beban bunga (30.934) (43.378) Payments for interest Kas neto yang diperoleh dari

  Net cash provided by financing

aktivitas pendanaan 191.402 91.673 activities

(PENURUNAN) KENAIKAN NETO

  NET (DECREASE) INCREASE IN KAS DAN SETARA KAS (52.318) 18.153

  CASH AND CASH EQUIVALENTS KAS DAN SETARA KAS AWAL 280.870 4 264.954 CASH AND CASH EQUIVALENTS

  TAHUN AT BEGINNING OF YEAR

  Dampak perubahan selisih kurs (491) 762 Effect on foreign changes rate changes KAS DAN SETARA KAS AKHIR

  CASH AND CASH EQUIVALENTS PERIODE 228.061 4 283.869 AT END OF PERIOD

  

Catatan atas laporan keuangan konsolidasian interim terlampir The accompanying notes to the interim consolidated financial

merupakan bagian yang tidak terpisahkan dari laporan statements form an integral part of these consolidated financial

keuangan konsolidasian secara keseluruhan. statements taken as a whole.

  7

  DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN INTERIM Tanggal 30 Juni 2018 dan untuk Periode Enam Bulan yang Berakhir pada Tanggal Tersebut (Disajikan dalam ribuan Dolar AS dan dalam jutaan Rupiah, kecuali dinyatakan lain) AND ITS SUBSIDIARIES NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of June 30, 2018 and for the Six-Month Period Then Ended

  (Expressed in thousands of US Dollar and in millions of Rupiah, unless otherwise stated)

1. UMUM

  1. GENERAL

a. Pendirian Perusahaan

  27 Oktober 1971 berdasarkan Akta Notaris No. 34 dari Notaris Tan Thong Kie, S.H. Perusahaan didirikan untuk mengambil alih proyek pabrik baja Trikora. Akta pendirian tersebut telah disahkan oleh Menteri Kehakiman Republik Indonesia dalam Surat Keputusannya No. J.A.5/224/4 tanggal 31 Desember 1971 dan diumumkan dalam Lembaran Berita Negara Republik Indonesia No. 44 tanggal 8 Februari 1972, Tambahan No. 19.

  PT Krakatau Steel (Persero) Tbk (the “Company”) was established in the Republic of Indonesia based on the Notarial Deed No. 34 of Tan Thong Kie, S.H., dated October 27, 1971 to take over the Trikora steel plant project. The deed of establishment was approved by the Ministry of Justice of the Republic of Indonesia in its Decision Letter No. J.A.5/224/4 dated December 31, 1971 and was published in the State Gazette of the Republic of Indonesia No. 44 dated February 8, 1972, Supplement No. 19.

  Anggaran Dasar Perusahaan telah mengalami beberapa kali perubahan, yang terakhir dengan Akta Notaris No. 88 tanggal 18 April 2018 dari Jose Dima Satria, S.H., M.Kn. yang mengatur, antara lain, perubahan susunan Dewan Komisaris dan Direksi Perusahaan. Akta perubahan ini telah dilaporkan dan diterima oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Penerimaan No. AHU- AH.01.03-0183254 tanggal 8 Mei 2018.

  The Company’s Articles of Association have been amended several times, most recently by Notarial Deed No. 88 dated April 18, 2018 of Jose Dima Satria, S.H., M.Kn. concerning, among others, the change in the Company’s Boards of Commissioners and Directors. The amendment deed was reported to and accepted by the Ministry of Laws and Human Rights of the Republic of Indonesia in its Acknowledgement Letter No. AHU-AH. 01.03- 0183254 dated May 8, 2018.

  Tujuan Perusahaan adalah melaksanakan dan menunjang berbagai kebijakan dan program pembangunan Pemerintah di bidang ekonomi, khususnya dalam industri baja.

  PT Krakatau Steel (Persero) Tbk (“Perusahaan”) didirikan di Republik Indonesia pada tanggal

  Sesuai dengan Pasal 3 Anggaran Dasar Perusahaan, ruang lingkup kegiatan Perusahaan terutama meliputi bidang produksi, perdagangan dan pemberian jasa. Ruang lingkup kegiatan Perusahaan saat ini meliputi, antara lain:

  In accordance with Article 3 of the Company’s Articles of Association, the scope of its activities mainly comprises production, trading and rendering of services. Currently, the Company is engaged in, among others:

  (i) Industri baja terpadu, yang memproduksi besi spons, slab baja, billet baja, baja lembaran panas, baja lembaran dingin, dan batang kawat;

  (i) Integrated steel industry, which produces sponge iron, slabs, billets, hot rolled coils, cold rolled coils, and wire rods;

  (ii) Perdagangan, yang meliputi kegiatan pemasaran, distribusi dan keagenan, baik dalam maupun luar negeri;

  (ii) Trading activities, comprising marketing, distribution and agency work, both in the domestic and international markets;

  (iii) Pemberian jasa seperti jasa rekayasa dan konstruksi, pemeliharaan mesin, konsultasi teknis maupun penyediaan sarana dan prasarana yang menunjang kegiatan usaha Perusahaan; dan

  (iii) Services, such as engineering and construction, machine maintenance, technical consultancy and provision of infrastructure to support the activities of the Company; and

  a. The Company’s Establishment

  The Company‘s objective is to implement and support the various policies and programs of the Government for economic development, especially with respect to the steel industry.

  DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN INTERIM Tanggal 30 Juni 2018 dan untuk Periode Enam Bulan yang Berakhir pada Tanggal Tersebut (Disajikan dalam ribuan Dolar AS dan dalam jutaan Rupiah, kecuali dinyatakan lain) AND ITS SUBSIDIARIES NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of June 30, 2018 and for the Six-Month Period Then Ended

  (Expressed in thousands of US Dollar and in millions of Rupiah, unless otherwise stated)

1. UMUM (lanjutan)

  a. Pendirian Perusahaan (lanjutan)

  The Company is majority owned by the Government of the Republic of Indonesia.

  On November 10, 2016, the Company obtained the effective statement from OJK No. S-676/D.04/2016 to conduct a Limited Public Offering with pre-emptive rights (“PMHMETD I”) of its 3,571,396,900 Series B shares with a nominal value of Rp500 (full amount) per share at a price of Rp525 (full amount) per share. On December 6, 2016, all additional shares have been listed in the Indonesia Stock Exchange (Note 28).

  Pada tanggal 10 November 2016, Perusahaan memperoleh pernyataan efektif dari OJK No. S-676/D.04/2016 untuk melakukan Penawaran Umum Terbatas Untuk Penambahan Modal Dengan Memberikan Hak Memesan Efek Terlebih Dahulu I (“PMHMETD I”) sebanyak 3.571.396.900 saham Seri B dengan nilai nominal Rp500 (angka penuh) per saham dengan harga Rp525 (angka penuh) per saham. Pada tanggal 6 Desember 2016, seluruh tambahan saham tersebut telah dicatatkan di Bursa Efek Indonesia (Catatan 28).

  On October 29, 2010, the Company obtained the effective statement from the Capital Market and Financial Institution Supervisory Agency (“Bapepam-LK”), currently as Financial Services Authority (“OJK”), No. S-9769/ BL/2010 to conduct public offering of its 3,155,000,000 new shares with nominal value of Rp500 (full amount) per share at a price of Rp850 (full amount) per share. The Company’s shares were listed in the Indonesia Stock Exchange on November 10, 2010 (Note 28).

  Pada tanggal 29 Oktober 2010, Perusahaan memperoleh pernyataan efektif dari Badan Pengawas Pasar Modal dan Lembaga Keuangan (“Bapepam-LK”), sekarang Otoritas Jasa Keuangan (“OJK”), No. S-9769/BL/2010 untuk melakukan penawaran umum saham kepada masyarakat sebanyak 3.155.000.000 saham baru dengan nilai nominal Rp500 (angka penuh) per saham dengan harga Rp850 (angka penuh) per saham. Saham Perusahaan telah dicatatkan di Bursa Efek Indonesia pada tanggal 10 November 2010 (Catatan 28).

  b. The Company’s Public Offering

  b. Penawaran Umum Efek Perusahaan

  Perusahaan dimiliki oleh Pemerintah Republik Indonesia selaku pemegang saham mayoritas.

  a. The Company’s Establishment (continued)

  1. GENERAL (continued)

  Kantor pusat Perusahaan berkedudukan di Jalan lndustri No. 5, Cilegon.

  The Company and its production facilities are located in Cilegon, Banten. The Company started its commercial operations in 1971. The Company’s production facilities have a production capacity of 2,450,000 metric tons (unaudited) of crude steel per year and 2,850,000 metric tons (unaudited) of finished steel products per year. The Company is constructing a Blast Furnace complex which will produce 1,200,000 metric tons (unaudited) per year of hot metal and pig iron (Note 13).

  Perusahaan dan pabriknya berlokasi di Cilegon, Banten. Perusahaan memulai operasi komersialnya pada tahun 1971. Perusahaan memiliki fasilitas produksi dengan kapasitas produksi baja kasar (crude steel) sebesar 2.450.000 metrik ton (tidak diaudit) per tahun dan kapasitas produksi baja jadi (finished steel products) sebesar 2.850.000 metrik ton (tidak diaudit) per tahun. Perusahaan sedang membangun komplek pabrik Blast Furnace yang akan memproduksi 1.200.000 metrik ton (tidak diaudit) hot metal dan pig iron per tahun (Catatan 13).

  (iv) Supporting activities such as warehousing, workshop, property, port services, education and training, waste and industrial product, power plant, water treatment, and information technology services.

  (iv) Kegiatan usaha penunjang seperti pergudangan, perbengkelan, properti, pelabuhan, pendidikan dan pelatihan, limbah produk dan limbah industri, pembangkit listrik, pengelolaan air, dan jasa teknologi informasi.

  The Company’s head office is located at Jalan Industri No. 5, Cilegon.

  DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN INTERIM Tanggal 30 Juni 2018 dan untuk Periode Enam Bulan yang Berakhir pada Tanggal Tersebut (Disajikan dalam ribuan Dolar AS dan dalam jutaan Rupiah, kecuali dinyatakan lain) AND ITS SUBSIDIARIES NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of June 30, 2018 and for the Six-Month Period Then Ended

  (Expressed in thousands of US Dollar and in millions of Rupiah, unless otherwise stated)

1. UMUM (lanjutan)

  b. Penawaran Umum Efek Perusahaan (lanjutan)

  Entitas anak dan kegiatan usaha/ of commercial Subsidiaries and business activities operations started 2018 2017 2018 2017

  Water treatment and distribution Cilegon, 1996 100,00 100,00 82.633 85.326

  PT Krakatau Bandar Samudera (“PT KBS”) Jasa pengelolaan pelabuhan/Port services provider Cilegon, 1996 100,00 100,00 178.154 195.993 PT Krakatau Tirta Industri (“PT KTI”) Distributor dan pengolahan air/

  PT Krakatau Engineering (“PT KE”) dan entitas anaknya/and Its subsidiaries Rekayasa dan konstruksi/ Engineering and constructions Cilegon, 1988 100,00 100,00 133.587 146.483

  Industri real estat dan perhotelan/ Real estate and hotels industry Cilegon, 1982 100,00 100,00 142.717 156.355

  PT KHI Pipe Industries (“PT KHIP”) Manufaktur pipa baja/Steel pipe production Cilegon, 1973 100,00 100,00 169.073 159.835 PT Krakatau Industrial Estate Cilegon (“PT KIEC”) dan entitas anaknya/and Its subsidiaries

  PT Krakatau Daya Listrik (“PT KDL”) Distributor dan penghasil listrik/ Generation and distribution of electricity Cilegon, 1996 100,00 100,00 224.172 233.292

  PT Krakatau Wajatama (“PT KWT”) Manufaktur baja profil dan tulangan/ Reinforcing bars and deformed and plain bars production Cilegon, 1992 100,00 100,00 107.676 79.383

  Kedudukan dan Total aset sebelum tahun usaha eliminasi/ komersial dimulai/ Persentase kepemilikan/ Total assets before Domicile and year Percentage of ownership elimination

  b. The Company’s Public Offering (continued)

  As of June 30, 2018 and December 31, 2017, the percentage of ownership of the Company and total assets of the subsidiaries are as follows:

  1. GENERAL (continued)

  c. Entitas Anak, Entitas Asosiasi dan Ventura Bersama c. The Subsidiaries, Associates and Joint Venture

  (ii) approximately 34% for construction of 1x150 MW Coal Electric Steam Power Plant.

  (ii) sekitar 34% untuk memenuhi kebutuhan proyek pembangunan Pembangkit Listrik Tenaga Uap Batubara 1x150 MW.

  (i) approximately 66% for capital expenditure of construction of Hot Strip Mill 2 (“HSM 2”) Plant;

  (i) sekitar 66% untuk memenuhi kebutuhan modal kerja proyek pembangunan pabrik Hot Strip Mill 2 (“HSM 2”);

  Dana yang diperoleh Perusahaan akan digunakan dengan rincian sebagai berikut: The funds obtained by the Company will be used as follows:

  Pada tanggal 30 Juni 2018 dan 31 Desember 2017, persentase kepemilikan Perusahaan secara langsung dan total aset entitas anak adalah sebagai berikut:

  DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN INTERIM Tanggal 30 Juni 2018 dan untuk Periode Enam Bulan yang Berakhir pada Tanggal Tersebut (Disajikan dalam ribuan Dolar AS dan dalam jutaan Rupiah, kecuali dinyatakan lain) AND ITS SUBSIDIARIES NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of June 30, 2018 and for the Six-Month Period Then Ended

  (Expressed in thousands of US Dollar and in millions of Rupiah, unless otherwise stated)

1. UMUM (lanjutan)

  1. GENERAL (continued)

c. Entitas Anak, Entitas Asosiasi dan Ventura Bersama (lanjutan)

  Subsidiaries and business activities operations started 2018 2017 2018 2017 PT Krakatau Medika (“PT KM”) 1) Jasa pelayanan kesehatan/

  Medical services provider Cilegon, 1996 97,55 97,55 27.677 28.739 PT Krakatau Information Technology (“PT KITech”) Jasa teknologi informasi/Information technology provider Cilegon, 1993 100,00 100,00 6.228 6.507

  PT Meratus Jaya Iron & Steel (“PT MJIS”) Manufaktur besi dan baja/Iron and steel production Jakarta, 2012 66,00 66,00 103.007 103.686 PT Krakatau National Resources (“PT KNR”) Industri pengolahan hasil tambang/

  Coal and mining industry Jakarta, 2013 100,00 100,00 4.170 3.730 Total/Total

  1.179.092 1.202.619 1) 3,07% dimiliki oleh PT Pelat Timah Nusantara Tbk (“PT Latinusa”) dan PT Latinusa dimiliki oleh Perusahaan sebesar 20,10%

  Total assets before Domicile and year Percentage of ownership elimination Entitas anak dan kegiatan usaha/ of commercial

  PT KIEC memiliki saham pada PT Rakata Realtindo (“PT RR”), dahulu PT Laksana Maju Jaya, dengan persentase kepemilikan sebesar 99,99%. PT RR bergerak dalam bidang real estat dan memulai operasi komersialnya pada tahun 2001.

  PT KIEC owns shares of PT Rakata Realtindo (“PT RR”), formerly PT Laksana Maju Jaya, with the percentage of ownership of 99.99%.

  PT RR is engaged in the business of real estate and commenced its commercial operations in 2001.

  PT Krakatau Daya Tirta (“PT KDT”), entitas anak PT KTI, didirikan dengan tujuan untuk mengambil alih kegiatan usaha air minum merek Quelle yang sebelumnya merupakan unit usaha PT KDL dengan komposisi kepemilikan sebesar 99,98% oleh PT KTI dan 0,02% oleh PT KDL.

  PT Krakatau Daya Tirta (“PT KDT”), a subsidiary of PT KTI, was established with the objective to take over Quelle mineral water business which was previously a business unit of PT KDL with share composition of 99.98% owned by PT KTI and 0.02% owned by PT KDL.

  Pada tanggal 30 November 2016, PT KTI menjual seluruh kepemilikan saham di PT KDT kepada Dana Pensiun Krakatau Steel (“DPKS”) dengan nilai jual US$718 dan menghasilkan laba penjualan sebesar US$61. Oleh karena itu, PT KDT tidak lagi dikonsolidasi oleh PT KTI sejak tanggal tersebut.

  On November 30, 2016, PT KTI sold all of its shares in PT KDT to Dana Pensiun Krakatau Steel (“DPKS”) with a selling price of US$718 and resulted in a gain on sale of of US$61. As a result, PT KDT was deconsolidated from PT KTI since that date.

  c. The Subsidiaries, Associates and Joint Venture (continued) Kedudukan dan Total aset sebelum tahun usaha eliminasi/ komersial dimulai/ Persentase kepemilikan/

  1) 3.07% is owned by PT Pelat Timah Nusantara Tbk (“PT Latinusa”) and PT Latinusa is 20.10% owned by the Company

  DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN INTERIM Tanggal 30 Juni 2018 dan untuk Periode Enam Bulan yang Berakhir pada Tanggal Tersebut (Disajikan dalam ribuan Dolar AS dan dalam jutaan Rupiah, kecuali dinyatakan lain) AND ITS SUBSIDIARIES NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of June 30, 2018 and for the Six-Month Period Then Ended

  (Expressed in thousands of US Dollar and in millions of Rupiah, unless otherwise stated)

1. UMUM (lanjutan)

  1. GENERAL (continued)

c. Entitas Anak, Entitas Asosiasi dan Ventura Bersama (lanjutan)