To be a world-class company in the fertilizer, petrochemical and technical services by maximizing values of the firm and customers satisfaction

Visi • Vision

Menjadi perusahaan kelas dunia dalam industri pupuk, petrokimia dan jasa-jasa teknik melalui maksimasi nilai untuk perusahaan dan kepuasan pelanggan. To be a world-class company in the fertilizer, petrochemical and technical services by maximizing values of the firm and customers’ satisfaction.

Misi • Mission

Memproduksi dan memasarkan pupuk untuk mendukung ketahanan pangan nasional (swasembada pangan), produkproduk petrokimia dan jasa-jasa teknik di pasar nasional dan global dengan memperhatikan aspek mutu secara menyeluruh. To produce and supply and distribute all kinds of fertilizers to domestic market, support the government program on “self sufficient and food security” as well as supply the technical services to global markets in accordance with the highest standards of quality.

Prawacana • Preface

“Meraih peluang untuk pertumbuhan” Sejumlah indikator makro ekonomi yang positif pada tahun 2004 diiringi kondisi umum yang stabil telah memberikan gairah bagi dinamika usaha di Indonesia. PT Pusri Holding terus menjalankan komitmennya secara konsisten dalam proses penyediaan dan penyaluran pupuk sampai tingkat konsumen. Serangkaian upaya peningkatan produktivitas, efisiensi usaha dan penerapan strategi diversifikasi yang dilakukan telah menambah kemampuan Perusahaan untuk memenuhi kebutuhan pasar dan pupuk majemuk yang meningkat dewasa ini. Melalui peningkatan sinergi dan pendayagunaan sumberdaya secara maksimal serta penerapan “Tata Kelola Perusahaan yang Baik”, PT Pusri Holding optimis dalam meraih peluang untuk pertumbuhan sekaligus memaksimalkan nilai bagi seluruh stakeholder. Memupuk kemajuan bersama bangsa adalah tujuan kami!

“Seizing the oortunity to grow” Numerous positive macro economic indicators in 2004, which has been accompanied by stability of general condition, has promoted enhancement for the dynamics of business activities in Indonesia. PT Pusri Holding has been consistently conducting its commitment in the fertilizers supply and distribution to the consumer lines. A range of improvement efforts in productivity, business efficiency and the implementation of diversification strategy has enabled the Company to fulfill the increasing market demand and compound fertilizers today. Through the continuing efforts of maximizing synergy and optimizing the resources, in addition to the implementation of the Good Corporate Governance practices, PT Pusri Holding feels optimistic in seizing the opportunity to grow and maximizing value to all stakeholders. Support the cultivation of growth with the nation is our aim!

Laporan Tahunan 2004 PT Pusri (Persero)

1

Daftar Isi • Table of Contents

01 03 04 06 10 12 13 16 19

Prawacana • Preface Budaya Perusahaan • Corporate Values Ikhtisar Kegiatan Usaha • Performance Highlights Periﬆiwa Penting Tahun 2004 • Significant Events in 2004 Sekilas PT PUSRI Holding • Overview of PT PUSRI Holding Struktur Korporasi • Corporate Structure Informasi Ringkas Perusahaan • Corporate Brief Information Sambutan Komisaris Utama • Message from President Commissioner Penerapan Tata Kelola Perusahaan Implementation of Good Corporate Governance

22

Laporan Manajemen • Management Report 24 Produksi • Production 25 Pemasaran • Marketing 26 Keuangan • Finance 28 Pengembangan Usaha • Development 30 Teknik dan Enjinering • Technic and Engineering 32 Penelitian dan Pengembangan • Research and Development 33 Pengembangan Sumber Daya Manusia • Human Resource Development 34 Pengembangan Masyarakat, Kehatan dan Lingkungan Community, Health and Environment Development

Prospek ke Depan • Towards a Brighter Future Informasi Manajemen • Management Information 41 Bagan Organisasi • Organization Chart 42 Dewan Komisaris • Board of Commissioners 44 Dewan Direksi • Board of Directors 46 Pa Lokasi Pabrik, Unit Pengantongan dan Wilayah Kerja Pupuk Bersubsidi 37

40

Location of Fertilizer Plants, Bagging Units and Subsidized Fertilizer Work Area 48

2

Laporan Keuangan • Financial Report


Nilai-nilai Perusahaan • Corporate Values

Memberikan kepuasan kepada pelanggan dan masyarakat melalui produk dan pelayanan yang bermutu berlandaskan kepada 7 etos kerja, yaitu:

1. 2. 3. 4. 5. 6. 7.

Bertindak segera Responsif Disiplin Kerja keras Kreatif Bersih Baik sangka

To provide values to the customers and the community by delivering high quality products and services, based on the 7 working ethics, namely:

1. 2. 3. 4. 5. 6. 7.

Prompt action Responsive Discipline Hardwork Creative Clean Be positive


3

Ikhtisar Kegiatan Usaha • Performance Highlights

(in million Rupiah)

Uraian • Description

2004

2003

2002

Disajikan kembali

Data Keuangan • Financial Report Aktiva lancar • Current assets Investasi jangka panjang • Long term Investment Aktiva tetap • Fixed Assets Aktiva lain-lain • Other Assets Jumlah Aktiva • Total Assets Kewajiban jangka pendek • Current liabilities Kewajiban jangka panjang dan lain-lain Long term and other liabilities Modal • Stockholder’s equity Saldo laba • Retained earnings Jumlah kewajiban dan ekuitas • Total liabilities and equity Rasio Keuangan • Financial Ratio Rasio lancar • Current Ratio Rasio hutang terhadap modal sendiri Total debt to total equity Rasio modal terhadap aktiva • Total debt to total assets Return on Investment (%) • Return on Investment (%) Return on Equity (%) • Return on Equity (%) Kinerja • Performance indicator Hasil Usaha • Business Achievements Penjualan bersih • Net sales Laba usaha • Operating income Laba sebelum pajak • Income before tax Laba setelah pajak • Income after tax Produksi • Production Pupuk (ton) • Fertilizer (tons) Non pupuk (ton) • Non fertilizer (tons) Penjualan • Sales Penjualan pupuk (ton) • Fertilizer sales (tons) Penjualan non pupuk (ton) • Non fertilizer sales (tons) Nilai penjualan pupuk (Rp juta) Fertilizer sales revenue (Rp million) Nilai penjualan non pupuk & jasa (Rp juta) Non fertilizer sales & services revenue (Rp million)

4


6,184,104 175,164 11,987,124 484,608 18,831,000

5,831,924 189,098 9,442,679 524,121 15,987,822

5,913,280 175,211 9,054,125 417,785 15,560,401

3,543,321

3,753,026

3,999,741

7,739,755 3,719,768 3,828,156 18,831,000

5,184,225 3,634,768 3,415,803 15,987,822

4,895,833 3,634,768 3,030,059 15,560,401

1.75:1

1.55:1

1.48:1

59:41 37:63 4.05 10.10 Sehat AA

56:44 36:64 4.48 10.17 Sehat AA

57:43 36:64 5.19 12.04 Sehat AA

13,060,139 1,346,130 1,153,605 761,991

11,380,541 1,273,045 1,168,664 716,787

9,009,553 1,129,687 1,100,733 807,699

7,216,208 5,205,385

6,743,217 4,852,386

6,484,379 4,462,531

7,407,084 1,492,336

7,508,734 1,362,734

6,781,418 1,151,411

7,486,844

7,949,626

6,988,468

3,628,943

2,627,039

2,022,883

13,060,139 11,380,541

9,009,553

N Sal

(in million Rupiah)

2002

2003

2004 18,831,000

15,987,822 15,560,401

Total As Liabiliti & Equity (in million Rupiah)

2002

2003

807,699 716,787

2004

761,991

Income After Tax (in million Rupiah)

2002

2003

2004


5

Periﬆiwa Penting Tahun 2004 • Significant Events in 2004

• Kondisi ekonomi yang positif membantu kegiatan usaha untuk tetap stabil. Positive economic condition supports the activities stability.

• Pengadaan dan peyaluran pupuk bersubsidi untuk sektor pertanian. Supply and distribution of Susidized Fertilizer for the agricultural sector.

Tahun 2004 dapat disebut sebagai tahun politik nasional yang ditandai dengan suksesnya penyelenggaraan pemilihan umum secara langsung, baik untuk anggota Dewan Perwakilan Rakyat maupun pemilihan Presiden dan Wakil Presiden. Keberhasilan ini menunjukkan relatif stabilnya kondisi sosial politik dan keamanan yang membantu penciptaan iklim usaha yang kondusif di tanah air.

2004 has been seen as the year of national politics, as reflected in successful accomplishment of direct general election, both for members of the House of Representatives as well as President and Vice President. Such success indicates relative stability of social politics and security condition, which help creating a favorable business environment in Indonesia.

Kondisi positif tersebut diikuti dengan sejumlah indikator ekonomi yang menunjukkan tren perbaikan. Nilai tukar Rupiah terhadap Dolar Amerika Serikat berada pada kisaran Rp 8.800 - Rp 9.300, tingkat pertumbuhan ekonomi menanjak dari 4,10 persen menjadi 5,13 persen dan Sertifikat Bank Indonesia (SBI) tiga bulan menurun dari 9,06 persen menjadi 7,30 persen, walaupun tingkat inflasi naik dari sekitar 5,16 persen menjadi 6,40 persen. Sementara itu, dunia industri pupuk nasional sepanjang tahun 2004 mengalami berbagai peristiwa dan kebijakan yang secara langsung maupun tidak langsung berpengaruh terhadap kemajuan dan kinerja Perusahaan. Seiring komitmen untuk menjamin ketersediaan

6


Numerous economic indicators have followed such positive condition, which shows some improvement trend.The exchange rate of Rupiah to US Dollar is in the range of Rp 8,800 – Rp 9,300, the economic growth rate rises from 4.10 percent to 5.13 percent, the Three Month Indonesian Central Bank Certificate (SBI) declines from 9.06 percent to 7.30 percent, eventhough inflation rate increases from 5.16 percent to 6.40 percent. Meanwhile during the year 2004, the national fertilizer industry is subjected to several major events and significant policies, which have directly and indirectly posed impact to the progress and performance of the Company. In line with the commitment to ensure fertilizer stock availability for the food vegetation

• Sarana dan prasarana yang baik melancarkan distribusi pupuk ke seluruh wilayah. Good facilities and infrastructures smoothens fertilizer distribution to the whole regions.

• Gudang Penyimpanan Pupuk (GPP). Fertilizer Stock Warehouse.

pupuk bagi petani tanaman pangan, Pemerintah telah melakukan sejumlah kajian yang menyangkut tata niaga pupuk dan menghasilkan kebijakan yang menjadi landasan usaha PT Pusri ke depan.

farmers, the government has conducted numerous studies on fertilizer commercial arrangement and resulting in some regulations fundamental for PT Pusri’s forthcoming business.

Pada bulan Mei, dengan SK No. 356/MPP/Kep/5/2004 Menteri Perindustrian dan Perdagangan telah mengeluarkan keputusan tentang Pengadaan dan Penyaluran Pupuk Bersubsidi untuk Sektor Pertanian, dengan penekanan pada pengutamaan pemasaran pupuk untuk memenuhi kebutuhan pupuk dalam negeri, yang merupakan perubahan dari SK No. 306/ MPP/Kep/4/2003.

On May, by Stipulation No 356/MPP/Kep/5/2004 the Minister of Industry and Trade has issued a decision on Provision and Supply of Subsidized Fertilizer for the Agriculture Sector, by emphasizing on fertilizer marketing for domestic needs, as an alteration to the previous Decree No. 306/MPP/Kep/4/2003.

Walaupun kebijakan ini membawa dampak pengurangan quota ekspor pupuk yang pada gilirannya mengurangi laba usaha, namun PT Pusri terus mewujudkan komitmennya untuk menjalankan misi penyediaan pupuk bagi ketahanan pangan nasional. Kebijakan Menperindag tersebut telah diikuti pula dengan penetapan Surat Keputusan Menteri Keuangan R.I. No. 319/KMK.06/2004 tentang Tata Cara Penghitungan dan Pembayaran Subsidi Pupuk Tahun Anggaran 2004 pada tanggal 28 Juni 2004.

Even though the regulation affects the drop in fertilizer export quota that in turn reduce the operational income, but PT Pusri is continually committed to its mission of providing fertilizer for the national food security. Following the stipulation of the Minister of Industry and Trade, subsequent policy has also been issued by the Minister of Finance R.I. as substantiated by the Stipulation No. 319/KMK.06/2004 concerning the Conduct of Calculation and Payment of Subsidized Fertilizer for 2004 Fiscal Year, on June 28, 2004.


7

• Belerang sebagai bahan baku ZA. Sulphur, the raw material for ZA.

Pada sisi lain, Perusahaan juga dihadapkan pada sejumlah tantangan termasuk membanjirnya gula impor pada bulan Juni yang berpengaruh pada perkebunan tebu dan penjualan pupuk ZA sebagai salah satu sumber pendapatan Perusahaan. Sejumlah peristiwa alam yang melanda berbagai tempat juga membawa dampak besar pada lahan pertanian seperti terjadinya banjir bandang di sejumlah wilayah di Indonesia, seperti yang terjadi pada triwulan pertama tahun 2004. Bencana lebih dahsyat terjadi pada akhir Desember di wilayah Nanggro Aceh Darussalam dan Sumatera Utara, yang dikenal dengan tragedi Tsunami, yang selain memakan korban ratusan ribu jiwa juga meluluh-lantakkan sarana dan prasarana di kawasan tersebut, termasuk mengganggu operasi pabrik PT Pupuk Iskandar Muda. Pada bulan Agustus dan September, sejumlah BUMN Pupuk menjalankan pergantian pimpinan yang menandai era baru dari manajemen PT Pusri Holding dan anak-anak perusahaannya. Pengangkatan anggota-anggota Direksi BUMN Pupuk yang diharapkan mampu meningkatkan soliditas, sinergi dan efisiensi tersebut ditetapkan oleh Menteri Negara BUMN RI melalui SK No. Kep-91/MBU/2004.

8


• Lahan pertanian yang rusak akibat banjir. Damaged agricultural areas due to flood.

On the other hand, the Company has to deal with several hindrances, including the entrance of imported sugar on June that inflict losses on sugar cane plantations and the sales of ZA fertilizer as one source of income for the Company. Numerous natural disasters have occurred in some areas, which severely affect extensive farming and plantations, such as the happening of torrent flood, which strike several regions in the country on the first quarter of the year. A more tragic disaster hit the Nanggro Aceh Darussalam and North Sumatera provinces in December, as known by the Tsunami Tragedy, that not only taking several hundred thousands of people’s life, but also ruthlessly ruined most public facilities and infrastructures in the regions, including PT Pupuk Iskandar Muda plant. On August and September, the Board of the whole Fertilizer State-Owned Companies has been changed, marking the new era of PT Pusri Holding and its subsidiary companies management team. The State Minister of State-Owned Companies by Stipulation No Kep-91/MBU/2004 has decided the appointment of new board of directors of the State Owned Companies, which is aimed at enhancing the solidity, synergy and efficiency of the fertilizer companies.

• Pabrik PIM yang masih kokoh walaupun terkena dampak gempa. The PIM fertilizer plant is still safe even it’s stricken by earthquake.

• Serah terima jabatan Direktur Utama PT Pusri Persero. The official handover of PT Pusri (Peersero) President Director.

Pesta demokrasi berupa pemilihan umum yang berlangsung dengan tertib dan aman sejak bulan April, Juni dan September, berhasil menampilkan Presiden dan Wakil Presiden pilihan langsung, yang telah dilantik pada bulan Oktober. Pergantian pimpinan nasional ini juga menandai keputusan pemerintah untuk memisahkan Departemen Perindustrian dan Perdagangan (Deperindag) menjadi dua kementerian tersendiri, yaitu Departemen Perindustrian dan Departemen Perdagangan.

The feast of democracy in the form of general election, which has been organized in peace and order since the month of April, June to September, has finally revealed the new elected President and Vice President, inaugurated in October. This change of national leaders has also signified the government decision in separating the Department of Industry and Trade into two particular ministerial offices, namely the Department of Industry and the Department of Trade.

Pada 8 Desember, Menteri Negara BUMN dan Deputi Bidang Usaha Agro Industri, Kehutanan, Kertas, Percetakan dan Penerbitan telah mengamanatkan pentingnya pengambilan langkah-langkah pengamanan dalam penyediaan pupuk masa tanam Oktober 2004 - Maret 2005. Selanjutnya ditegaskan bahwa kebijakan ini bersifat zero tolerance, yang dilakukan antara lain melalui pengadaan double stock atau menyediakan stok sebanyak dua kali ketentuan SK Menteri Pertanian di Lini III untuk masing-masing produsen. Urgensi langkah pengamanan ini membuktikan kepedulian pemerintah terhadap program ketahanan pangan nasional melalui penyediaan pupuk yang cukup dan berkelanjutan bagi para petani tanaman pangan melalui PT Pusri Holding.

On December 8, the State Minister of State-Owned Companies and the Deputy for Business Sector of Agro industry, Forestry, Paper, Printing and Publication have addressed the importance of security measures in fertilizer supply for the cultivation period of October 2004 – March 2005. Subsequent details is that it should be zero tolerance, which among others to be conducted by double-stock or providing stock to the amount of twice than the amount defined in the Stipulation of the Minister of Agriculture in the 3rd line for each producers. The need for security measures has proven the government concern in strengthening the national food security through continuous sufficient supply of fertilizers to the food cultivation farmers through PT Pusri Holding.


9

Sekilas PT PUSRI Holding • Overview of PT PUSRI Holding

Memasuki tahun ke delapan sebagai Holding Company, PT PUSRI menjalankan peran kian penting dalam pembangunan ekonomi nasional yang mengandalkan produk-produk pertanian.

By eight years operating as a holding company, PT PUSRI plays an even more important role in the national economic development which is based on agricultural products.

10

PT Pupuk Sriwijaya (Persero) yang lebih dikenal sebagai PT Pusri, merupakan badan usaha milik negara yang bergerak di bidang produksi dan pemasaran pupuk. PT Pusri didirikan berdasarkan Akte Notaris Eliza Pondaag, Nomor 177 tanggal 24 Desember 1959 dan diumumkan dalam Lembaran Berita Negara Republik Indonesia Nomor 46 tanggal 7 Juni 1960.

PT Pupuk Sriwijaya (Persero) - better known as PT Pusri - is a state owned company that operates in fertilizer production and marketing. PT Pusri was established by virtue of Deed Number 177, dated December 24, 1959, authenticated by Eliza Pondaag, Public Notary and subsequently published in the State Gazzette of the Republic of Indonesia Number 46 dated June 7, 1960.

PT Pusri dengan Kantor Pusat dan Pusat Produksi yang berkedudukan di Palembang, Sumatera Selatan, merupakan produsen pupuk urea pertama di Indonesia. Mulai berproduksi dengan satu unit pabrik berkapasitas 100 ribu ton urea per tahun, Perusahaan mengalami perkembangan pesat sejak 1972, dengan dibangunnya sejumlah pabrik baru sehingga mampu meningkatkan kapasitas terpasangnya menjadi 2,26 juta ton per tahun.

PT Pusri with its Head Office and Production Center domiciled in Palembang, South Sumatera, has become the first urea fertilizer producer in Indonesia. Commenced production with one unit plant with the capacity of 100 thousand tons per year, the Company has grown rapidly eversince 1972 to date, with the establishment of numerous new plants capable of enhancing their installed capacity into 2.26 million tons per year.

Perusahaan telah mengalami dua kali perubahan bentuk badan usaha. Perubahan pertama terjadi tahun 1964, berdasarkan Peraturan Pemerintah No. 20 tahun 1964 yang mengubah statusnya dari Perseroan Terbatas (PT) menjadi Perusahaan Negara (PN). Selanjutnya

The Company has been experiencing two times changes of the structure of business firm. First alteration happened in the year 1964, based on the Government Regulation No. 20 year 1964, which changed the status from a Limited Liability Company into a State


berdasarkan Peraturan Pemerintah No. 20 tahun 1969 dan dengan Akte Notaris Soeleman Ardjasasmita pada bulan Januari 1970, status dikembalikan ke Perseroan Terbatas (PT).

Company. Subsequently based on the Government Regulation No. 20 year 1969 and by the Notarial Deed of Soeleman Ardjasasmita on January 1970, the status was returned to a Limited Liability Company.

Pada tahun 1979, Pemerintah menugasi PT Pusri untuk melaksanakan distribusi dan pemasaran pupuk bersubsidi ke seluruh wilayah Republik Indonesia dengan prinsip “least cost distribution” hingga dibebaskannya tata niaga pupuk pada tanggal 1 Desember 1998.

In 1979, the Government assigned PT Pusri to conduct the distribution and marketing of subsidized fertilizer throughout the Republic of Indonesia regions, under the principle of “least cost distribution” until the liberation of the fertilizer trade regulation on December 1, 1998.

Seiring perkembangan industri pupuk di tanah air, berdasarkan Peraturan Pemerintah No. 28 tahun 1997 PT Pusri telah ditunjuk sebagai induk perusahaan yang menaungi empat BUMN yang bergerak di bidang pupuk, yaitu PT Petrokimia Gresik, PT Pupuk Kujang, PT Pupuk Kaltim dan PT Pupuk Iskandar Muda, satu BUMN yang bergerak dalam bidang Engineering, Procurement & Construction (EPC), yaitu PT Rekayasa Industri dan pada tahun 1998 ditambah lagi dengan satu BUMN yang bergerak dalam bidang Trading, yaitu PT Mega Eltra. Konsolidasi ini telah meningkatkan jumlah keseluruhan modal disetor dan ditempatkan PT Pusri Holding menjadi Rp 3.719.768 juta. Langkah strategis Pemerintah untuk membentuk sinergi antar kompetensi ini sejalan dengan kerangka makro pembangunan nasional yang bertujuan meningkatkan produktivitas pertanian yang menunjang program ketahanan pangan nasional. Pada tahun pertama setelah dilaksanakannya konsolidasi, Perusahaan mengalami lonjakan laba setelah pajak yang sangat drastis, diiringi dengan fluktuasi produksi segala jenis pupuk yang berkisar antara 6,3 juta ton hingga 6,9 juta ton. Memasuki tahun ke delapan perannya sebagai induk, PT Pusri terus melakukan berbagai kajian untuk mendapatkan bentuk dan strategi sinergi yang paling optimal. Dengan mengelola 11 pabrik urea, 10 pabrik amoniak dan dua perusahaan jasa teknik berlokasi tersebar di Sumatera, Kalimantan dan Jawa, PT Pusri menjalankan peran yang kian penting dalam pertumbuhan ekonomi nasional yang mengandalkan produk-produk pertanian.

In line with the development of fertilizer industry in Indonesia, based on the Government Regulation No. 28 year 1997, PT Pusri has been appointed Holding Company, which controls four fertilizer State Owned Companies, namely PT Pupuk Kujang, PT Pupuk Kaltim and PT Pupuk Iskandar Muda, one State Owned Company that runs Engineering, Procurement & Construction (EPC) services, namely PT Rekayasa Industri, and in the year 1998 to be added with a trading State Owned Company, that is PT Mega Eltra. The consolidation has led to the enhancement of paid-up and placed capital of PT Pusri Holding into an amount of Rp 3,719,768 million. The Government strategic steps in building synergy inter-competences is in accordance with the national development macro framework of national development aiming to enhance the agricultural productivity in support of the national food security program. Within only one year after the consolidation, the Company has enjoyed a drastic leap in profit after tax, followed by production boost in all kinds of fertilizer, ranging between 6.3 tons to 6.9 tons. Entering eight years functioning as a holding company, PT Pusri has been conducting continuous analysis to obtain the most optimum form and strategy of synergy. By managing 11 urea plants, 10 ammonia plants and two technical engineering service companies, with location spreading throughout Sumatera, Kalimantan and the Java islands, PT Pusri plays an even more important role in the national economic development based on agricultural products.


11

Struktur Pusri Holding • Corporate Structure

PT PETROKIMIA GRESIK (99.9%)

PT PUSPETINDO (5.13%) PT PETROSIDA GRESIK (99.9%) PT PETROKIMIA KAYAKU (60%) PT PETROCENTRAL (9.8%) PT PETRONIKA (20%) PT PETROWIDADA (1.47%) PT KAWASAN INDUSTRI GRESIK (35%)

PT PUPUK KUJANG (99.9%)

PT KAWASAN INDUSTRI CIKAMPEK (96%) PT KUJANG SUDCHEMIE CATALYST (23%) PT MULTI NITROTAMA KIMIA (30%) PT SINTAS KURAMA PERSADA (40.7%) PT PEROKSIDA INDONESIA PRATAMA (20%)

PT PUPUK KALIMANTAN TIMUR (99.9%)

PT KALTIM INDUSTRIAL ESTATE (99.9%) PT DSM KALTIM MELAMIN (20%) PT KALTIM SAHID BARITOSODAKIMIA (20%) PT REKAYASA INDUSTRI (5%)

PT PUPUK ISKANDAR MUDA (99.9%)

PT IMA PERSADA (40%)

PT REKAYASA INDUSTRI (90.06%)

REKAYASA INDUSTRI MALAYSIA Sdn Bhd. (100%) PT YASA INDUSTRI NUSANTARA (80%) PT REKAYASA ENGINEERING (80%) PT PUSPETINDO (0.865%) COMSPAIN SA (49%) PT MEGA ELTRA (7.7%) PT REKAYASA KONSULTAN (80%) PT REKADAYA ELEKTRIKA (23.1%)

PT MEGA ELTRA (92.3%)

PT SIGMA UTAMA (92%)

PT ASEAN ACEH FERTILIZER (60%)*

ASEAN BINTULU FERTILIZER Sdn. Bhd (13%)*

PT PUSPETINDO (5.13%) PT SRI MELAMIN REJEKI (20%) PT SLIPI SRI INDOPURI (7.95%) * Penugasan Pemerintah Republik Indonesia Assignment from the Government of the Republic of Indonesia

12


Informasi Ringkas Perusahaan • Corporate Brief Information

PT Pupuk Sriwidjaja (Persero) - Holding Production Capacity (tons/year)

- Ammonia - Urea - ZA - SP-36/TSP - Phonska - DAP

4,553,000 6,874,000 650,000 1,000,000 300,000

Sales (Rp million) Net Profit (Rp million) Total Assets (Rp million) Number of Employees

Production (tons/year) 2003

2004

3,900,352 5,425,520 479,281 687,657 113,942 36,817

4,120,649 5,667,415 572,599 738,225 201,978 10,993

11,380,541 716,787 15,987,822 12,869

13,060,139 761,991 18,831,000 12,784

PT Pupuk Sriwidjaja

Established: 24 December 1959 Line of business: Production and Marketing of fertilizer/other chemical industries.

Production Capacity (tons/year)

- Ammonia - Urea Sales (Rp million) Net Profit (Rp million) Total Assets (Rp million) Number of Employees

1,499,500 2,262,000


2004

1,332,460 2,053,410

1,440,150 2,187,550

3,938,100 710,686 7,666,382 3,404

3,311,913 757,555 7,979,568 3,442

Subsidiaries •PT Sri Melamin Rejeki •PT Slipi Indopuri •PT Puspetindo


13

PT Prokimia Grik

Established: 31 May 1975 Line of business: Urea Fertilizer, ZA, SP-36, Phonska, and other chemical industries.


- Ammonia - Urea - ZA - SP-36/TSP - Phonska - DAP

445,500 462,000 650,000 1,000,000 300,000

Sales (Rp million) Net Profit (Rp million) Total Assets (Rp million) Number of Employees Subsidiaries •PT Petrosida Gresik •PT Petrocentral •PT Petronika •PT Petrowidada


2004

355,916 260,176 479,281 687,657 113,942 36,817

314,190 344,356 572,599 738,225 201,978 10,993

2,875,455 108,759 2,374,310 3,709

3,837,021 124,372 2,756,890 3,635

•PT Kawasan Industri Gresik •PT Puspetindo •PT Petrokimia Kayaku

PT Pupuk Kujang

Established: 9 June 1975 Line of business: Urea Fertilizer industry.


- Ammonia - Urea


380,000 570,000

Sales (Rp million) Net Profit (Rp million) Total Assets (Rp million) Number of Employees

2004

398,499 597,597

347,608 526,899

693,650 88,419 1,152,694 886

687,978 84,567 3,335,114 1,032

Subsidiaries •PT Sintas Kurama Perdana •PT Multi Nirotama Kimia •PT KUjang Sud Chemie Calalyst •PT Kawasan Industri Kujang Cikampek •Peroksida Indonesia Pratama

PT Pupuk Kalimantan Timur

Established: 7 December 1977 Line of business: Urea fertilizer and other chemical industries.


- Ammonia - Urea

1,848,000 2,980,000

Sales (Rp million) Net Profit (Rp million) Total Assets (Rp million) Number of Employees Subsidiaries •PT Kaltim Industrial Estate •PT DSM Kaltim Melamin

14


•PT Kaltim sahid Baritosodakimia •PT Rekayasa Industri


2004

1,496,323 2,023,321

1,746,385 2,272,289

2,666,476 192,770 5,884,146 2,407

3,819,048 152,883 5,834,665 2,385

PT Pupuk Iskandar Muda

Established: 20 February 1982 Line of business: Urea fertilizer and other chemical industries.


- Ammonia - Urea


380,000 600,000

Sales (Rp million Net Profit (Rp million) Total Assets (Rp million) Number of Employees

2004

317,154 491,016

272,316 336,321

521,805 35,630 3,319,228 1,232

571,760 15,753 3,750,651 1,196

Subsidiaries •PT Ima Persada

PT Rekayasa Industri

Established: 12 August 1981 Line of business: Industrial Design, Engineering and Construction Management.

Sales (Rp million) Net Profit (Rp million) Total Assets (Rp million) Number of Employees Subsidiaries •PT Puspetindo •PT Yasa Industri Nusantara •PT Rekayasa Engineering •PT Tracon Industri •PT Mega Eltra •Rekayasa Industri Malaysia Sdn, Bhd.

2003

2004

1,025,412 62,084 805,722 1,071

1,303,742 60,293 820,018 945

2003

2004

366,400 2,899 194,173 160

403,400 1,440 137,374 149

• Comspain SA • PT Rekadaya Elektrika

PT Mega Eltra

Established: 28 December 1970 Line of business: Trading, distribution and industrial activities.

Sales (Rp million) Net Profit (Rp million) Total Assets (Rp million) Number of Employees Subsidiary •PT Sigma Utama


15

Drs. Mahmuddin Yasin, MBA Komisaris Utama

Perencanaan strategis dan kermatan telah meningkatkan

kemampuan Perusahaan mengubah masalah menjadi peluang pengembangan usaha.

Strategic lanning and forhought have enabled the Company to turn problems into business opportunity.

16


Sambutan Komisaris Utama • Message from President Commissioner Assalamu’alaikum w.w. Mewakili Dewan Komisaris, saya ingin mengawali sambutan ini dengan mengucapkan syukur ke hadirat Tuhan Yang Maha Esa, atas karunia Nya PT Pusri (Persero) telah memasuki tahun ke delapan dalam menjalankan kegiatan sebagai induk perusahaan. Selanjutnya ucapan selamat kepada manajemen dan seluruh karyawan atas dedikasi dan kerja kerasnya yang memungkinkan Perusahaan berhasil mewujudkan kinerja yang baik di tengah berbagai kondisi yang kurang menguntungkan.

On behalf of the Board of Commissioners, let me commence the message by expressing our gratitude to God the Almighty, it is only by Thou blessing that PT Pusri (Persero) enables to enter its eight year in carrying out the operation as a holding company. Furthermore congratulations to the management team and employees on their dedication and hardwork, which have enabled the Company to succeed in realizing a excellent performance within several unfavourable conditions.

Sebagai BUMN yang mengemban misi mendukung ketahanan pangan nasional, Perusahaan dihadapkan pada dua fungsi yaitu misi sosial yang menyangkut kehidupan petani dan pangan serta fungsi komersial untuk mencetak profitabilitas yang berkesinambungan. Namun demikian, berdasarkan kepada Master Plan BUMN 2002-2006, Perusahaan mempunyai basis yang kuat dalam memenuhi kedua tugas yang sangat menuntut adanya pola kerjasama yang sinergis.

As a state owned company that conduct the mission of national food security program, the Company has to cope with its dual function, namely the public mission that deals with the farmers life and food, and the commercial function for achieving sustainable continuing profits. However, based on the Master Plan of the State Owned Company Year 2002-2006, the Company has a strong foundation in fulfilling both assignments, which demand very much on a synergic cooperation pattern.

Pada tahun 2004 Pusri Holding berhasil mempertahankan kinerjanya dan memperoleh predikat Sehat “AA”, walaupun dengan nilai total sedikit turun menjadi 91,50 dari kinerja tahun 2003 dengan nilai total 94,50. Perusahaan juga secara bertahap telah melaksanakan Tata Kelola Perusahaan yang Baik (GCG) dengan sasaran menjadi perusahaan yang memiliki kompetensi dalam praktek bisnis berdasarkan prinsip-prinsip transparansi, kemandirian, akuntabilitas, pertanggung-jawaban dan kewajaran. Kenyataan ini membuktikan adanya kemajuan yang berarti, termasuk dalam pengendalian interen, walaupun masih memerlukan penyempurnaan pada sejumlah bidang. Kami menyadari bahwa keberhasilan memang tidak mungkin dicapai secara sendiri, namun memerlukan dukungan dan kerjasama dari pihak-pihak yang terkait. Belum tercapainya target jumlah produksi juga menyangkut kurangnya pasokan gas bumi dan kebijaksanaan yang kurang mendukung kelancaran usaha seperti penerapan pola IGD yang belum memberi manfaat optimal dan subsidi gas bumi yang belum mengakomodir

In the year 2004 Pusri Holding has been successful in securing its performance and obtaining the assessment of Healthy “AA”, even with a slight decline in total score of 91.50, compared to 94.50 in 2003. The Company has also systematically implementing the Good Corporate Governance (GCG) practices for the objectives of becoming a company higly competent in business conducts, based on the principles of transparency, independent, accountable, responsible and fairness. The evidence proves that significant progress is intact, including the internal control, eventhough there are several areas that need improvement. We are fully aware that success is seldom achieved individually, but demand the full supports and cooperation from the related parties. The production performance that is not up to the target also involves the insufficient supply of natural gas and unfavourable regulations for the business, such as the implementation of the IGD pattern,which does not provide optimum benefit as well as the natural gas subsidy, which have not


17

HPP serta penurunan HET yang menjadi beban Perusahaan. Mempertimbangkan besarnya tantangan yang dihadapi, termasuk perlunya peremajaan mesin-mesin pabrik dan peralatan lainnya, kami mendukung upayaupaya peningkatan kemampuan untuk meyakinkan pihak-pihak terkait akan perlunya kebijakan yang kondusif. Walaupun membukukan laba konsolidasi sebesar Rp 1,15 triliun atau 56 persen diatas target, namun Perusahaan perlu mengambil langkah antisipatif dan proaktif terhadap tuntutan kebutuhan strategis di masa datang. Upaya mewujudkan visi Perusahaan menjadi perusahaan kelas dunia, memerlukan perencanaan yang strategis dan realistis serta kecermatan dan kejelian dalam mengubah persoalan menjadi peluang dan kesempatan untuk mengembangkan usaha. Sejumlah capaian positif telah membekali Perusahaan untuk melangkah maju dan mengembangkan diri dalam mencapai tujuan. Pada kesempatan ini, saya mewakili Dewan Komisaris, menyampaikan penghargaan dan terima kasih yang setinggi-tingginya atas dukungan dan kerjasama dari instansi terkait, mitra usaha, para pelanggan dan semua pihak yang memungkinkan PT Pusri mencapai keberhasilan selama ini. Semoga Allah SWT. senantiasa memberikan kekuatan dan petunjuk kepada kita semua dalam memenuhi amanah penting yang menyangkut hajat hidup masyarakat ini.

accommodate the Cost of Goods Sold (CGS) as well as the decrease of the Highest Retail Price that incurred to the Company. In view of big challenges ahead, including the need of the rejuvenation of plants machineries and other equipments, we are in full support of the optimum efforts in enhancing the capability to convince the parties concerned on the need of condusive policies to be taken. Eventhough a sum of consolidated income of Rp 1.15 trillion or 56 percent above the target has been recorded in 2004, but anticipative and proactive measures should immediately be taken by the Company to deal with the strategic demand in the future. Continual endeavors in realizing the vision to be a world-class company has called for strategic and realistic planning, in addition to the prudent and smartness in turning problems into opportunities for business development. Numerous positive achievements have capitalized the Company’s strength in moving forward and gearing up towards realizing the goals. On this occasion, on behalf of the Board of Commissioners, I extend my sincerest appreciation and gratefulness on the supports and cooperation from the related institutions, business partners, customers and all parties which have enabled PT Pusri progressing into the current success. May God the Merciful always provide all of us with strength and guidance in conducting essential duty for the welfare of the people.

Wasssalamu’alaikum w.w.

Drs. Mahmuddin Yasin, MBA President Commissioner

18


Penerapan Tata Kelola Perusahaan

Implementation of Good Corporate Governance

Dengan praktek Tata Kelola Perusahaan yang Baik PT PUSRI terus meningkatkan profesionalisme dan memaksimalkan nilai Perusahaan.

By consiﬆent implementation of the GCG Practice, PT PUSRI is continually improving the professionalism and maximizing the Corporate value.

Sebagai BUMN yang berperan penting dalam usaha kebutuhan hidup masyarakat, PT Pusri meyakini pentingnya penerapan Tata Kelola Perusahaan dalam peningkatan profesionalisme dan memaksimalkan nilai Perusahaan. Dengan mengacu kepada Master Plan BUMN RI tahun 2002-2006, manajemen terus berupaya mewujudkan komitmen sepenuhnya dalam menjalankan praktek bisnis berdasarkan prinsipprinsip transparansi, kemandirian, akuntabilitas, pertanggungjawaban dan kewajaran.

As a State Owned Company that mostly deals with the people’s welfare, PT Pusri believes in the importance of the Good Corporate Governance practices in enhancing professionalism and maximizing the value of the Company. By referring to the Master Plan of State Owned Company Year 2002-2006, the management is consistently making the best efforts in realizing the commitment of business conducts on the principles of transparency, independency, accountability, responsibility and fairness.

Perusahaan telah menyusun Peta Praktek Tata Kelola Perusahaan yang Baik (GCG - Board Manual) bagi Komisaris dan Direksi, serta penerbitan Code of Conduct (Pedoman Perilaku) PT Pusri dengan dibantu konsultan Sofyan Djalil & Partner. Pencapaian sasaran menjadi Perusahaan yang memiliki kompetensi dalam praktek bisnis berdasarkan prinsip-prinsip GCG, telah dilaksanakan secara sistematis dan berkelanjutan melalui Pola Penerapan GCG - Pusri, yang pada tahun 2004 ini telah mencapai tahun keempat.

The Company has formulated the Good Corporate Governance Board Manual for the Board of Commmissioners and Board of Directors, in addition to the issuance of PT Pusri Code of Conduct, in cooperation with Sofyan Djalil & Partner consultant. The achievement of becoming a GCG competence company has been conducted systematically and continually through the GCG - Pusri Implementation Plan, which have entered its fourth year in 2004.


19

• Penandatanganan Surat Kesepakatan Bersama jual beli pupuk dengan distributor sebagai salah satu bentuk penerapan GCG. Signing Letter of Agreement on fertilizer trading with distributors - exemplifies one of the GCG conducts.

20

PT Pusri juga telah ditunjuk bersama enam BUMN lain sebagai pilot project kerjasama dengan konsultan Price WaterhouseCoopers (PWC) dalam menyusun Statement Corporate Intent (SCI) tahun 2002-2004 serta praktek tata kelola perusahaan yang baik. Kegiatan sosialisasi telah diawali dengan program pelatihan dan seminar Tata Kelola Perusahaan kepada jajaran manajemen puncak dan senior.

PT Pusri has also been appointed with six other State Owned Companies as a pilot project with the Price WaterhouseCoopers (PWC) consultant in preparing the Statement of Corporate Intent (SCI) year 20022004 as well as the conduct of Good Corporate Governance. The socialization activities have been started with the GCG training program and seminars for top management and senior level.

Dalam azas transparansi, Perusahaan telah mengungkapkan informasi penting dalam Laporan Tahunan dan Laporan Keuangan kepada pemegang saham dan pihak terkait. Perusahaan juga telah membuat situs/website GCG - PT Pusri, yang dapat diakses setiap waktu sepanjang hari, dari tempat mana pun publik memerlukannya.

On transparency principle, essential information has been disclosed and shared to the shareholders and related parties by the Company in the form of Annual Reports and Financial Statements. Moreover, website for PT Pusri - GCG has also been created by the Company accessible any time of the day, from wherever public needs it to access.

Untuk prinsip akuntabilitas dan kewajaran, dalam hal distribusi telah dimasukkan klausula bahwa PT Pusri (Pusri Pemasaran Daerah) beserta seluruh jajarannya tidak akan menerima sesuatu dalam bentuk apapun dari pihak distributor, dan sebaliknya pihak distributor tidak akan memberikan sesuatu dalam bentuk apapun yang terkait dengan jual beli pupuk tersebut. Melengkapi Surat Perjanjian Jual Beli Pupuk (SPJB), ditetapkan bahwa distributor membuat Surat Pernyataan pertanggung-jawaban penuh atas segala resiko atas pupuk urea bersubsidi yang diserahkan oleh PT Pusri dan membebaskan Perusahaan dari segala tanggungjawab hukum.

For the transparency and fairness principles, a clausal has been implemented in distribution line of work that PT Pusri (The Regional Marketing Office) with its entire corresponding staff will not accept any kind of things from the distributor, and reversibly the distributors will not give any kind of things in relation with the fertilizer transaction. Completing the Fertilizer Transaction Agreement Document, it has been articulated that distributor is obliged to make a Confirmation Letter stated that a Statement Letter confirming the full responsibility on any risks on the subsidized urea fertilizer delivered by PT Pusri and release the Company from any legal responsibility.


Selama tahun 2004 Dewan Komisaris telah mengadakan rapat berkala secara efektif serta pertemuan dengan Direksi paling sedikit sebulan sekali. Komite Audit Perusahaan telah membentuk Komite Audit sejak tahun 1999, yang berfungsi membantu Dewan Komisaris dalam melaksanakan tugas pengawasannya. Komite Audit bertugas memberikan pendapat professional kepada Dewan Komisaris terhadap laporan atau hal-hal yang disampaikan oleh Direksi kepada Dewan Komisaris serta mengidentifikasikan hal-hal yang memerlukan prioritas. Sesuai SK Komisaris tahun 2004 No 002/KEP.KOM/ VIII/2004, tim Komite Audit tahun 2004 terdiri dari: • Rifana Erni, S Teks, MBA: sebagai ketua • Dr Rahmat Waluyanto, Ak, MBA: sebagai anggota • Ir Hari Slamet Widodo: sebagai anggota

Sesuai dengan fungsinya, Komite Audit telah melakukan kegiatannya secara memadai, termasuk melakukan supervisi terhadap hasil kerja internal auditor serta auditor independen. Laporan Audit telah dikirimkan secara berkala kepada pemegang saham serta Menteri Perindustrian dan Perdagangan.

During the year 2004, the Board of Commissioners has been conducting effective regular meeting and business meeting with the Board of Directors for a minimum of once a month. The Audit Committee In carrying out the Audit Committee function, the Company has set up an Audit Committee since 1999 to conduct the function of assisting the Board of Commissioners in conducting its supervisory obligation. The Audit Committee is in charge of delivering professional opinion to the Board of Commissioners to the report or matters conveyed by the Board of Directors and identifying matters of relevant priority. In accordance with the Board of Commissioners’ Decision No 002/KEP.KOM/VIII/2004, the Audit Committee for the year 2004 consists of: • Rifana Erni, S Teks, MBA: as chairman • Dr Rahmat Waluyanto, Ak, MBA: as member • Ir Hari Slamet Widodo: as member Based on its function, the Audit Committee has been carrying out the activities sufficiently, including supervision on the results of internal auditor as well as independent auditor assignments. The Audit Report has been submitted to the shareholders and the Minister of Industry and Trade on a regular basis.


21

From left to right (standing): Djafarudin Lexy Sonatha, SE, MM. Ir. H. Indra Jaya HM. Ir. Bowo Kuntohadi, MM. Ir. Sutarto Budidarmo. Drs. Wiyas Yulias Hasbu, Ak, MBA. (seated): Ir. Dadang Heru Kodri, MM.

Meningkatkan sinergi dan efisiensi

untuk pertumbuhan yang berkelanjutan. Enhancing optimum synergy and efficiency for sustainable growth.

22


Laporan Manajemen • Management Report

Seiring kebijakan Pemerintah dalam mendukung program ketahanan pangan nasional, PT Pusri terus menyiapkan diri untuk tumbuh dan berkembang. Sebagai perusahaan holding, Pusri memiliki keahlian, pengalaman dan jaringan kerja yang solid selama puluhan tahun dalam industri. Pada tahun yang berjalan ini pun PT Pusri Holding berhasil membukukan laba sebelum pajak sebesar Rp 1,15 triliun atau 56 persen lebih tinggi dari target, berkat perolehan laba usaha yang tinggi. Begitu pula dalam capaian kinerja Perusahaan, yang berhasil mempertahankan predikat Sehat, kategori “AA”, dengan total skor 91,50. Pada saat yang sama Perusahaan juga dihadapkan pada sejumlah masalah yang memerlukan solusi tepat secara cepat. Realisasi penjualan seluruh jenis pupuk tahun 2004 lebih rendah sebesar 1.355.219 ton atau 15 persen dari target. Selain akibat pergeseran musim tanam, produksi juga lebih rendah karena gangguan operasi pabrik dan terbatasnya suplai gas bumi, terutama untuk pabrik Pupuk Iskandar Muda. Sementara itu sebagian pabrik memerlukan investasi untuk pembaharuan dan peremajaan, disamping beban biaya pemeliharaan dan suku cadang yang makin tinggi. Masalah lain adalah tingginya harga gas bumi yang dibeli dalam Dolar Amerika Serikat dan beban arus kas sebagai akibat keterlambatan pembayaran subsidi kepada masing-masing produsen. Disparitas harga pupuk urea dalam negeri dengan harga ekspor dan harga sektor industri serta keterlambatan izin ekspor juga menyebabkan potential loss yang berarti. Sebagai upaya solusi sekaligus memperkuat keunggulan kompetitif, Perusahaan telah mengambil sejumlah langkah strategis melalui program peningkatan produktivitas, efisiensi dan keandalan pabrik melalui preventive program, predictive maintenance dan replacement schedule secara konsisten dan berkesinambungan. Perusahaan juga terus meningkatkan kordinasi dengan pihak-pihak terkait untuk mengupayakan terjaminnya jumlah dan harga serta kualitas dan kontinyuitas pasokan gas bumi sebagai bahan baku.

In line with the Government policy in enhancing the national food security program, PT Pusri has been continually gearing up to grow and progress. As a holding company in fertilizer industry, PT Pusri possesses decades of expertise, experience and solid network in the industry. During the year in review, PT Pusri Holding has been successful in booking income before tax of Rp 1.15 trillion or 56 percent higher than the target, due to its high-level operational income. The achievement has been subsequently followed by its high performance of the Company, which have been successful in maintaining the compliment of Healthy, “AA” category, with a total score of 91.50. At the same time, the Company is also dealing with several problems that call for immediate and appropriate solution. Realization of sales for the whole range of fertilizers in 2004 is lower than its preceding year, to an amount of 1,355,219 tons or 16 percent from the target. Apart from the cultivation season, the production also suffers from the operational disturbances of the plant and the insufficient supply of natural gas, especially for the Pupuk Iskandar Muda (PIM) plant. In the meantime, several plants require siginificant investment for renewal and replacement, apart from the raise of maintenance cost and spare-parts expenses. Another problem is the escalating price of natural gas purchased in US Dollars and the cash flow expenses due to the delay in subsidy payment to each producer. Disparity of domestic, export price and industry price of urea fertilizer as well as delay in export permit have incurred significant potential losses for the Company. In providing solution and strengthening the competitive edge, a set of strategic measures have been taken by the Company through productivity, efficiency and plant reliability enhancement programs by way of consistent and continual preventive program, predictive maintenance and replacement schedule. The Company is also keeping on improving coordination with the related parties to ensure secured quantity, price and quality as well continuity of the natural gas supply as a basic material.


23

6,484,379

6,743,217

7,216,208

8,000,000

6,000,000

4,000,000

Fertilizer Production (tons)

2,000,000

0

2002

2003

2004

Melalui sinergi dan iklim pengembangan yang kondusif bagi pertumbuhan, manajemen optimis akan masa depan Perusahaan yang lebih cerah, yang memberikan manfaat bagi kesejahteraan masyarakat.

Through synergy and favorable climate for growth, the management is optimistic about the promising future for the Company that lies ahead, which in turn shares the benefit for the welfare of the community.

A.Produksi

A. Production

Produksi Pupuk Pada tahun 2004 terjadi beberapa gangguan operasional dan kekurangan pasokan gas bumi yang menyebabkan produksi total pupuk tidak mencapai sasaran walaupun tetap lebih tinggi dari tahun sebelumnya. Realisasi total produksi pupuk tahun ini adalah 7.216.208 ton, atau 91 persen dari target. Namun demikian jumlah tersebut lebih tinggi 7 persen dari realisasi tahun lalu, yakni 6.743.217 ton.

Fertilizer Production In the course of the year 2004, several operational disruptions and insufficient supply of natural gas has caused the total fertilizer fall short of the target, even maintains higher achievement beyond its preceding year. Realization of total fertilizer production for the year in review is 7,216,208 tons, or 91 percent from the target. However the amount is still 7 percent higher than last year’s realization of 6,743,217 tons.

Produksi Non Pupuk Realisasi produksi amoniak tahun 2004 adalah sebesar 4.120.649 ton, 5 persen di bawah target RKAP. Namun demikian, dibandingkan tahun 2003, produksi amoniak naik sebesar 6 persen. Sedangkan produksi total non pupuk dan produk samping lainnya adalah sebesar 1.084.736 ton atau 94 persen dari target,namun lebih tinggi 14 persen dibandingkan tahun lalu. Kendala tercapainya target adalah timbulnya persoalan teknis dan pasokan gas bumi.

Non-fertilizer Production Realization of 2004 ammonia production is amounting to 4,129,649 tons, 5 percent less than the Company Financial and Budget Plan (RKAP) target. In spite of this, compared to the year 2003 showing 6 percent increase in ammonia production. While total production of non-fertilizer and other side products record an amount of 1,084,736 tons or 94 percent from the target, which shows an increase of 14 percent compared to its previous year’s. This below the target achievement is due to the technical operations and shortage of natural gas supply.

Perusahaan mengupayakan agar seluruh sarana produksi mampu beroperasi dengan tingkat produktivitas dan efisiensi yang optimal. Setiap pabrik pupuk harus menjaga on-stream days minimal 330 hari dengan rasio pemakaian gas bumi per ton amoniak dan urea sesuai desain. Melalui sinergi di bidang produksi, Perusahaan mampu meningkatkan produksi pupuk dan amoniak di tahun 2004.

24


The Company has been striving for all the production facilities to operate at their optimum peak productivity and efficiency level. Each fertilizer plant has to maintain on-stream minimum of 330 days with the usage ratio of natural gas per ton ammonia and urea in accordance with the design. Through harmonious synergy in production area, the Company has been successful in improving the urea and ammonia production during the year 2004.

16,000,000

9,009,553

11,380,541

13,060,139

12,000,000

8,000,000

N Sal

(in million Rupiah)

4,000,000 0

2002

2003

2004

B.Pemasaran

B. Marking

Penjualan Pupuk Tonase penjualan seluruh jenis pupuk dalam negeri dan ekspor pada tahun 2004 adalah sebesar 7.407.084 ton atau 85 persen dari target. Dibandingkan dengan realisasi tahun 2003, total penjualan pun turun 101.650 ton atau 1 persen. Hal ini terjadi akibat pergeseran musim tanam dan rendahnya produksi karena gangguan teknis, problem pasokan gas dan juga adanya impor langsung oleh penyalur swasta.

Sales of Fertilizer The volume of sales for all range of domestic and export fertilizer in 2004 is 7,407,084 tons or 85 percent above the target. Compared to the realization in 2003, the total sales decreases by 101,650 tons or one percent. This is due to the shift of cultivation seasons and the low point of production amount due to technical problems, shortage in natural gas supply and also the occurance of direct import by private distributors.

Sesuai dengan kebijakan Pemerintah, khususnya dalam memasarkan pupuk bersubsidi yang mengacu kepada SK Menperindag Nomor 356/ MPP/Kep/5/2004, selama tahun berjalan Perusahaan memprioritaskan pemasaran dan distribusi pupuk untuk memenuhi kebutuhan dalam negeri. Kebijakan distribusi pupuk menggunakan prinsip least cost distribution - yaitu memasok kebutuhan pupuk setempat dari pabrik yang terdekat, dengan menerapkan prinsip 6-tepat, yaitu tepat waktu, tepat jumlah, tepat tempat, tepat jenis, tepat mutu dan tepat harga. Dengan sistem informasi dan komunikasi terpadu problem kelangkaan pupuk di suatu daerah dapat diantisipasi dan diatasi.

In accordance with the Government policy, especially in marketing the subsidized-fertilizer, referring to the Minister of Industry and Trade Decision No 356/MPP/ Kep/5/2004, during the year in review the Company has prioritized on fertilizer marketing and distribution for the domestic needs. The fertilizer distribution policy has implemented the least cost distribution principle, in which supplying the local need of fertilizer from the nearest plant, by applying the sixrights principle, namely the right time, the right place, the right specification, the right quality and at the right price. By optimizing the integrated information and communication system the problem of fertilizer scarcity can be anticipated and solved.


25

1,129,687

1,273,045

1,346,130

1,500,000

1,200,000

900,000

Operating Income (in million Rupiah)

600,000

300,000 0

2002

2003

2004

Realisasi nilai penjualan pupuk adalah sebesar Rp 7,487 triliun atau 82 persen dari target. Namun dibandingkan dengan realisasi tahun 2003, nilai penjualan total turun Rp 462,78 miliar atau 6 persen, yang diperoleh dari kenaikan tonase penjualan dalam negeri.

The realization of fertilizer sales value is amounted to Rp 7.487 trillion or 82 percent from the target. However, compared to the year 2003 realization, total sales value decreases by Rp 462.78 billion or 6 percent, which is derived from the raise of domestic sales tonnage.

Penjualan Non Pupuk Tonase penjualan amoniak tahun 2004 mencapai jumlah 714.519 ton atau 31 persen di atas target, yakni 547.107 ton dan 9 persen lebih tinggi dibandingkan realisasi tahun 2003 yang berjumlah 658.077 ton. Kenaikan tonase penjualan ini disebabkan ekses produksi dan tingginya permintaan pasar internasional. Dari nilai penjualan tercatat peningkatan drastis menjadi Rp 1,588 triliun atau 117 persen diatas target dan 56 persen lebih tinggi dari tahun sebelumnya. Peningkatan ini terutama dipengaruhi oleh naiknya harga jual rata-rata.

Sales of Non Fertilizer In 2004, the ammonia sales tonnage achieves an amount of 714,519 tons or 31 percent above the target, which is 547,107 tons and 9 percent higher than the realization in 2003 of 658,077 tons. The increase of sales tonnage is due to the production excess in addition to the elevated demand of international market. Meanwhile, the sales value experiences a drastic increase into Rp 1.588 trillion or 117 percent above the target and is 56 percent higher than its preceding year. The upsurge is mostly influenced by the raise of average sales price.

Untuk penjualan non pupuk dan produk samping hanya mencapai 777.817 ton atau 86 persen dari target sebesar 899.291 ton. Dari nilai penjualan, realisasi tahun 2004 mencatat jumlah Rp 2,078 triliun atau hanya 73 persen dari target sebesar Rp 2,857 triliun, namun meningkat 29 persen dari tahun sebelumnya, yaitu sebesar Rp 1,611 triliun.

The sales of non-fertilizer and side products are accounted to 777,817 tons or 86 percent from the target of 899,291 tons. In view of sales value, the 2004 realization records an amount of Rp 2.078 trillion or 73 percent from the target of Rp 2.857 trillion, even though shows 29 percent increase from its preceding year of Rp 1.611 trillion.

C.Keuangan

c.Finance

Untuk menghasilkan kinerja keuangan yang optimal, Perusahaan menerapkan pola pengelolaan dana melalui sinergi yang kuat di antara seluruh anak perusahaan, maupun antar unsur karyawan. Hasil dari kebijakan sinergi ini adalah peningkatan efisiensi biaya melalui program pinjam-meminjam suku cadang bernilai tinggi, pengembangan usaha secara bersama serta penerapan least cost distribution.

26


To ensure optimum financial results, the Company has been implementing prudent fund management scheme through strong synergy between all of its subsidiary companies, as also between each employee. The outcome of this synergy policy is cost efficiency improvement through mutual-lending programs of high valued spareparts, mutual business development and least cost distribution implementation.

Cost Reduction Program (CRP) juga menjadi salah satu contoh komitmen bersama antara manajemen, karyawan dan serikat pekerja, dalam meningkatkan kendali keuangan bagi profitabilitas Perusahaan yang lebih tinggi.

Cost Reduction Program (CRP) is also proving the mutual commitment between the management, the employees and the workers union, in improving the financial control aimed to achieve higher profitability for the Company.

Pada tahun 2004, Perusahaan berhasil membukukan laba sebelum pajak (konsolidasi) sebesar Rp 1,15 triliun atau 56 persen di atas target Rp 740,1 miliar, terutama disebabkan oleh tingginya laba usaha sebesar Rp 527,86 miliar atau 112 persen diatas RKAP. Jumlah tersebut turun Rp 15,06 miliar atau 1 persen dibandingkan realisasi tahun 2003. Sementara itu pendapatan lain-lain lebih rendah sebesar Rp 114,35 miliar atau 42 persen di bawah target, sedangkan laba usaha naik Rp 102,51 miliar atau 11 persen.

During the year 2004, the Company has been successful in recording income before tax (consolidated) to an amount of Rp 1.15 trillion or 56 percent above the target of Rp 740.1 billion, which mostly derives from the highpoint of operational income of Rp 517.86 billion or 112 percent above the Company’s Budget and Financial Plan. The amount indicates a decrease of Rp 15.06 billion or one percent drop compared to the 2003 realization. In the meantime other revenue declines by Rp 114.35 billion or 42 percent below the target, while the operational income raises by Rp 102.51 billion or 11 percent.

Kinerja 2004 berhasil mempertahankan kriteria sehat dengan kategori “AA”, dengan total skor 91,50. Sesuai dengan fungsinya sebagai BUMN yang menunjang suksesnya pembangunan nasional, khususnya yang terkait dengan sektor pertanian dan ketahanan pangan, PT Pusri secara konsisten memberikan kontribusinya kepada Pemerintah. Pada tahun 2004, jumlah kontribusi (konsolidasi) meningkat hingga 15 persen, dari Rp 1.182.608.147 di tahun 2003 menjadi Rp 1.359.999.768. Bukti dari perwujudan komitmen yang nyata.

The performance in 2004 has successfully maintains its criterium of Healthy In “AA” category with the total score of 91.50. Implementing function as a State-owned Company is supporting the success of national development, especially related to the agricultural sector and national food security program, PT Pusri has been consistently fulfilling its contribution has increased by 15 percent, from a sum of Rp 1,182,608,147 in 2003 into Rp 1,359,999,768. A realization that proves the living commitment.


27

D.Pengembangan Usaha

D. Busin Development

Inilah proyek-proyek pengembangan usaha yang dilaksanakan di tahun 2004, sebagian diantaranya merupakan kelanjutan dari program yang dirancang sebelumnya, yang mencakup: 1. PT Petrokimia Gresik a. Proyek RFO Pupuk Fosfat I Proyek Rehabilitasi pabrik pupuk fosfat I telah dilaksanakan dengan sasaran mampu dioperasikan secara fleksibel, dengan alternatif produksi pupuk SP36, pupuk NPK atau pupuk DAP. Dari anggaran RKAP tahun 2004 yang berjumlah Rp 39.353.000.000 telah direalisasikan pendanaannya pada tahun 2004 sebesar Rp 31.673.000.000 atau sebesar 80,48 persen. Sedangkan prestasi kegiatan fisik pada tahun 2004 telah mencapai 99 persen. b. Proyek Kalium Sulfat Proyek Kalium Sulfat atau ZK ini merupakan proyek sarana baru dalam rangka tujuan memproduksi

Here are the business development projects conducted by the Company in the year 2004, in which some of them have been continuation of the previous plans, that include: 1. PT Petrokimia Gresik a. Phosphate I Fertilizer RFO Plant The rehabilitation project of this Phosphate I fertilizer plant has been carried out in the purpose of enabling flexible operation, with the alternative production of SP-36, NPK or DAP fertilizer. From 2004 Annual Budget Plan of Rp 39,353,000,000, an amount of Rp 31,673,000,000 or equal to 80.48 percent funding has been realized in the year 2004. Whereas the physical development achievement in 2004 has reached 99 percent. b. The ZK Project This ZK or Sulphate Calium has become a new infrastructure of the Company for the production of K2SO4 and HCL. From 2004 Annual Budget

PT Pusri telah melakukan kordinasi, integrasi, sinkronisasi dan simplifikasi dalam pelaksanaan pengembangan usaha masing-masing anak perusahaan. Dengan pola terpadu ini maka dapat dicapai efisiensi dan optimasi sumber daya yang lebih optimal. Sejumlah pengembangan usaha telah dilakukan dengan mempertimbangkan ketepatan lokasi, ketersediaan bahan baku, sarana dan pertimbangan ekonomi lainnya.

• Kujang-IB

• ZA-III PKG

• Kaltim-4

28


PT Pusri has been conducting coordination, integration, synchronization and simplification in carrying out the business development of each subsidiary company. By such an integrated pattern efficiency and optimum utilization of Company resources can be achieved. A number of business development projects has been executed by considering the location, raw material availability, facilities and other economics factors.

K2SO4 dan HCL. Dari anggaran RKAP tahun 2004 yang berjumlah Rp 25.833.000.000 telah direalisasikan pendanaannya pada tahun yang sama sebesar Rp 24.071.000.000 atau 93,18 persen. Sedangkan prestasi pembangunan fisiknya telah mencapai 98,89 persen. c. Proyek Enterprise Resource Planning (ERP) Proyek ERP yang dirancang untuk meningkatkan efisiensi dan efektivitas kerja ini telah memperbaharui sistem informasi dengan basis ERP. Sasaran yang akan dicapai adalah proses bisnis yang lebih cepat, sederhana, efisien, fleksibel dan pintar, yang dibagi dalam dua pentahapan. Dari anggaran RKAP tahun 2004 yang berjumlah Rp 5.824.000.000 telah direalisasikan pendanaannya pada tahun pelaporan sebesar Rp 4.833.000.000 atau sebesar 82,98 persen. Kemajuan proyek ERP Tahap I telah mencapai 100 persen, sedangkan Tahap II 62,16 persen. 2. PT Pupuk Kujang a. Proyek Kujang-IB Pembangunan Proyek Kujang-IB yang dimulai sejak akhir 2002, saat ini telah mencapai kemajuan proyek (over all) sebesar 91,57 persen, dengan perincian bidang Engineering 99,99 persen, bidang Procurement 99,61 persen dan bidang Konstruksi 83,59 persen. Dari anggaran RKAP tahun 2004 yang berjumlah Rp 1.863.456.451.000 telah direalisasikan pendanaannya pada tahun yang sama sebesar Rp 2.164.978.467.000 atau sebesar 116,18 persen. b. Pilot plant Pupuk Majemuk Proyek perintis berupa pabrik pupuk majemuk ini dirancang untuk mengantisipasi perubahan pola pupuk alternatif para petani. Dari anggaran RKAP 2004 yang berjumlah Rp 1.400.000.000 telah direalisasikan pendanaannya pada tahun yang sama sebesar Rp 1.281.968.000 atau 91,57 persen. 3. PT Pupuk Iskandar Muda Proyek PIM-2 Kemajuan pembangunan proyek yang dimulai sejak 1999 dengan total anggaran sebesar US$ 366.585.235

Plan of Rp 28,833,000,000, an amount of Rp 24,071,000,000 or equal to 93.18 percent funding has been realized in the same year. Current progress of the project development reaches 98.99 percent. c. Enterprise Resource Planning (ERP) Project The ERP Project has been designed to enhance efficiency and effectiveness by renewing the information system on ERP base. The objective is the attainment of a faster, simpler, efficient, flexible and smart business process, which is segmented in two-phases. From 2004 Annual Budget Plan of Rp 5,824,000,000, an amount of Rp 4,833,000,000 or equal to 82.98 percent funding has been realized during the year reported. First Phase of the ERP Project has been accomplished to 100 percent, whereas the second phase currently achieves 62.16 percent. 2. PT Pupuk Kujang a. Kujang-IB Project The construction of Kujang-IB Project has been commenced ultimo 2002, and the current development progress (over all) has achieved 91.57 percent, with the specifications of Engineering field 99.99 percent, the Procurement 99.61 percent, and the Construction is 83.59 percent. From 2004 Annual Budget Plan of Rp 1,863,456,451,000, an amount of Rp 2,164,978,467,000 or equal to 116.18 percent funding has been realized during the same year. b. Compound Fertilizer Pilot Plant This pioneering project in the form of compound fertilizer plant has been designed to anticipate the pattern changes in alternative fertilizer for the farmers. From 2004 Annual Budget Plan of Rp 1,400,000,000, a sum of Rp 1,281,968,000 or 91.57 percent funding has been realized in the same year. 3. PT Pupuk Iskandar Muda PIM-2 Project Progress of the project development started in 1999 with a total investment of US$ 366,585,235


29

ini telah mencapai 99,98 persen. Prestasi lima dari tujuh aspek pembangunan proyek telah mencapai 100 persen, yang mencakup PDEP, Basic Engineering, Detail Engineering, Procurement dan Construction, sedangkan dua aspek lainnya mencapai 99,98 persen, yaitu Commissioning dan Over All. 4. PT Pupuk Kaltim Proyek NPK Blending Untuk mendorong pengembangan pasar NPK telah dilakukan sosialisasi dengan melakukan demplot terhadap berbagai jenis tanaman, padi, jagung, bawang merah, dan melon dengan hasil yang cukup baik.

has reached 99.98 percent. The achievement of five aspects out of seven project development aspects has attained 100 percent, which covers PDEP, Basic Engineering, Detail Engineering, Procurement and Construction, whereas 99.98 percent accomplishment has been achieved by two other aspects, namely Commissioning and Over All. 4. PT Pupuk Kaltim The NPK Blending Project To enhance the NPK market development, socialization activities have been carried out by means of demplot application on several crops, rice, corns, red onions and melon with satisfying results.

Pupuk NPK Pelangi telah berhasil memperoleh sertifikat SNI, dan telah diproduksi oleh 3 (tiga) anak perusahaan patungan PT Pupuk Kaltim, yaitu: Pukati Khatulistiwa yang berlokasi di Bontang, Pukati Patani Berseri di Cirebon, dan Pukati Pelangi Agromakmur di Semarang dengan total produksi tahun 2004 sebesar 17.295 ton, sedangkan Pukati Pelangi Tani Mukti telah selesai memasang mesin blending dan sedang melaksanakan commissioning untuk start up.

The Pelangi NPK Fertilizer has successfully awarded “The SNI Certificate”, and has been produced by three joint venture subsidiaries of PT Pupuk Kaltim, namely Pukati Khatulistiwa located in Bontang, Pukati Patani Berseri in Cirebon, and Pukati Pelangi Agromakmur in Semarang, with a total production amount of 17,925 tons in 2004, whereas for Pukati Pelangi Tani Mukti - blending machine installation has been completed and is currently undergoing commissioning for start up.

Dari anggaran tahun 2004 yang berjumlah Rp 1.701.000.000 telah direalisasikan sebesar Rp 578.000.000.

E.Teknik dan Enjinering

Kegiatan teknik dan enjinering Perusahaan terutama mencakup pengembangan sistem teknologi informasi, analisis laboratorium, kalibrasi dan instrumentasi. Sistem TI mempunyai peranan yang semakin penting bagi kegiatan otomatisasi perkantoran dan percepatan proses

30


From the total annual budget of Rp 1,701,000,000 an amount of Rp 578,000,000 has ben realized in 2004.

E. Thnical and Engineering

The Company’s technical and engineering activities especially emphasize on the development of information technology system, laboratory, calibration and instrumentation analysis. More than ever before, IT system has a substantial role for the office automation

arus informasi dan real time data yang memungkinkan pengambilan keputusan yang lebih cepat.

and acceleration of information flow and real time data processing for faster decision making process.

Selama tahun 2004, Perusahaan telah melakukan sejumlah kegiatan penting yang mencakup: * Pemeliharaan sejumlah sistem informasi, mulai dari SI SDM, SI Logistik/e-Pro, SI Pemeliharaan, SI Keuangan, SI Anggaran/Basis, Infrastruktur TI, Pengembangan jaringan komunikasi data/suara, pengadaan sistem back-up untuk storage area network dan pengembangan Form http://Pusri.net.

During the year 2004, the Company has been conducting a number of important activities, that convey: * Maintainance of a series of information system, starts from the SI SDM (HRD), SI Logistik/e-Pro, SI Pemeliharaan (Maintenance), SI Anggaran/Basis (Budget/Basis), IT Infrastructure, development of data/voice communication network, supply of storeage area network back-up system and the

* Pelatihan karyawan dalam bidang teknologi informasi sesuai dengan kebutuhan sistem perkantoran saat ini dan mendatang. * Pemasangan jaringan komunikasi data dan suara, yang meliputi PPD Sumatera Utara, Sumatera Barat, Riau, Daerah Istimewa Yogyakarta dan Nusa Tenggara Barat, serta untuk sejumlah PPD dalam tahap persiapan. * Teknologi yang menghasilkan jasa berupa analisis laboratorium, kalibrasi alat laboratorium dan instrumentasi. * Peningkatan keandalan dan efisiensi proses produksi yang meliputi rehabilitasi dan fleksibilitas operasi pabrik pupuk fosfat-I serta perbaikan ukuran kristal pupuk ZA-I dan ZA-III. * Penyempurnaan security system guna menjaga otorisasi penggunaan data khusus.

development of http://Pusri.net form. Employee training in the area of information technology in line with the needs of current and future office system. Installation of data and voice communication network, which conveys PPD North Sumatera, West Sumatera, Special District of Yogyakarta and West Nusa Tenggara, apart from in-progress numerous PPDs installation. Technology that produces services such as laboratory analysis, laboratory and instrumentation calibration. Improving production process reliability and efficiency that covers phosphate-I fertilizer plant rehabilitation and operational flexibility, and improvement of ZA-I and ZA-III crystal fertilizer size. Security system improvement to safegard special data usage authorization.

*

*

* *

*


31

F.Penelitian dan Pengembangan

F. Rearch and Development

Kegiatan Penelitian dan Pengembangan Induk dan Anak Perusahaan selama tahun 2004, mencakup: a. Studi pengembangan bisnis inti, berupa Program Debottleneck Amoniak P2/P3/P4 untuk meningkatkan efisiensi, produksi, kehandalan dan umur pabrik. b. Studi pengembangan pasar dan industri, yang mencakup studi pembangunan pabrik pupuk di Senoro, Sulawesi Tengah, pembangunan pabrik Kujang-IB, pengembangan pasar pupuk NPK Pelangi, pembangunan pabrik Ammonium Nitrate dan studi kelayakan pembangunan pabrik Acetic Acid di Bontang. c. Penelitian pertanian berupa penerapan pola Agro Technical Park di Kebun Percobaan di Indralaya, Sumatera Selatan. d. Rencana implementasi proyek pabrik pupuk majemuk NPK serta pabrik pupuk Bio. e. Kegiatan lain-lain yang mencakup kajian pemanfaatan gas bumi Luwuk, optimalisasi pabrik Kaltim-2, Urea Dust Recovery System K-1, penelitian filter pupuk majemuk, penelitian Slow Release Fertilizer (SRF) serta penelitian peningkatan kualitas lingkungan dan upaya pengadaan gas bumi.

Research and Development Activities of the Holding and Subsidiary Companies for the year 2004, covers the following: a. Core business development studies, in the form of P2/P3/P4 ammonia Debottleneck Program, aiming to improve the efficiency, production, reliability and lifetime of the plants. b. Studies on market and industrial development, that includes study on the development of fertilizer plant in Senoro, Central Sulawesi, Kujang-IB fertilizer plant, NPK Pelangi fertilizer market development, Ammonium Nitrate plant development and feasibility study on Acetic Acid plant development in Bontang. c. Research on farming in the form of implementation of the Agro Technical Park pattern at the Experimental Farm in Indralaya, South Sumatera. d. Implementation plan of the NPK compound fertilizer plant and the Bio fertilizer plant projects. e. Other activities encompass analysis on Luwuk natural gas utilization, Kaltim-2 plant optimalisation, K-1 Urea Dust Recovery System, research on compound fertilizer filter, research on Slow Release Fertilizer (SRF) and also research on environmental quality improvement and provision of natural gas undertaking.

Program Penelitian dan Pengembangan merupakan faktor penting bagi antisipasi Perusahaan terhadap perubahan yang terjadi, baik dari segi pasar, kebutuhan konsumen maupun tren industri secara makro serta kelayakan sebuah usaha. Kegiatan ini dilakukan secara sinergis antara perusahaan holding dan anak-anak perusahaan, sehingga diperoleh prioritas program yang fokus, relevan dan terpadu. Saat ini sejumlah studi dan penelitian telah dilakukan dan sebagian tengah dalam tahap penyelesaian, sebagian melalui kerjasama dengan pihak luar, yang bertujuan untuk mendapatkan masukan bagi pengembangan usaha yang efektif dan efisien.

Sejumlah kerjasama dalam bidang Penelitian dan Pengembangan juga telah dilakukan dengan pihakpihak lain, yang meliputi: a. Kerjasama dengan Institut Teknologi Bandung

32


Research and Development Program are essential aspects in the Company’s anticipation steps towards the recurring changes, either in view of the market, the consumer needs as well as industry’s overall trend and feasibility of a business venture. Such activities have been conducted in synergy with the holding company and its subsidiaries, to ensure the achievement of a focused, relevant and integrated program priorities. Currently a series of study and research is in undergoing process, while others are in the stage of accomplishment, partly through cooperation with other parties, to ensure effective and efficient business development inputs are taken.

A number of cooperation with the Research and Development area has also conducted by other institutes, such as:

b.

c.

d. e.

(ITB) dalam hal pengembangan Sistem Informasi (SI) Produksi. Kerjasama dengan Kementerian Riset dan Teknologi, yaitu Pilot Project Bio Cyclo Farming/ BCF. Kerjasama dengan Puslitbangtanak dalam hal persiapan pembuatan formulasi dosis anjuran NPK Pusri. Kerjasama dengan PT CIBA dalam hal persiapan uji formula dosis pupuk majemuk dan micronutrient. Kerjasama dengan Dinas Pertanian Sumatera Selatan, dalam hal membantu pemerintah dalam program pemupukan berimbang.

G. Pengembangan Sumber Daya Manusia

Perusahaan meyakini bahwa sumber daya manusia adalah aset yang paling berharga dan mempunyai peran menentukan dalam pencapaian kinerja usaha. Menghadapi dinamika tuntutan usaha dan pelayanan pelanggan yang memerlukan kualitas SDM yang setara, PT Pusri Holding telah menjadikan pengembangan SDM sebagai salah satu sasaran pokok Perusahaan. Serangkaian program pendidikan dan pelatihan terpadu telah dirancang secara sistematik, spesifik dan berkesinambungan, yang ditujukan pada pencapaian sasaran peningkatan produktivitas dan efisiensi kerja karyawan. Pada tahun 2004, Perusahaan memiliki jumlah karyawan sebanyak 12.858 orang, atau mengalami penurunan sebanyak 85 orang dibandingkan tahun sebelumnya, karena adanya karyawan yang pensiun normal dan meninggal dunia, disamping penambahan karyawan baru. Guna memacu motivasi karyawan, Perusahaan telah melaksanakan kebijakan sebagai berikut: 1. Penempatan karyawan sesuai dengan kebutuhan dan tuntutan organisasi. 2. Peningkatan kompetensi, profesionalisme, pengetahuan dan keterampilan karyawan melalui program pendidikan dan pelatihan khusus.

a. Cooperation with the Bandung Institute of Technology (ITB) in the development of Production Information System. b. Cooperation with the State Ministry of Research and Technology, namely the Bio Cyclo Farming/ BCF Pilot Project. c. Cooperation with Puslitbangtanak in the preparation of NPK Pusri recommended dosage formulation. d. Cooperation with PT CIBA in the preparation of compound fertilizer and micronutrient formulation - test. e. Cooperation with the South Sumatera Agriculture Office, in assisting the government for the balanced fertilization program.

G. Human Rourc Development

The Company relies on the principle of human resource as the most valuable asset and possesses a vital role in the attainment of ultimate business performance. In dealing with the dynamics of increasing business and customer service demand that call for equally matching quality human resources, PT Pusri Holding has been prioritized human resources development as one of its Company’s main objectives. A series of integrated education and training programs have been systematically, specifically and continually set up, with the aim of attaining employees’ productivity and efficiency enhancement. In 2004, the Company provides work for an amount of 12,858 employees, or declining by 85 persons compared to last year, due to normal retirement and death of the employees, in spite of the additional new employees. To boost employees’ motivation, the Company has been implementing the following policies: 1. Placing employees in accordance with the need and demand of the institution. 2. Improving employees’ competence, professionalism, knowledge and skills through special education and training programs.


33

Jumlah Karyawan Berdasarkan Tingkat Pendidikan PERUSAHAAN

34

S3

S2 Teknik

S1 Non Teknik

Sarjana Muda Teknik Non Teknik

SLTA

SMP

SD

Realisasi per 31 Des 2004

Realisasi per 31 Des 2003

PT PUSRI

0

51

345

533

201

142

1,969

146

55

3,442

3,404

PT PETROKIMIA GRESIK

0

49

151

350

32

74

2,631

295

53

3,635

3,709

PT PUPUK KUJANG

0

38

59

98

47

36

691

34

29

1,032

886

PT PUPUK KALTIM

0

45

222

178

67

61

1,621

131

60

2,385

2,407

PT PUPUK ISKANDAR MUDA

0

9

56

45

52

53

859

59

63

1,196

1,232

PT REKAYASA INDUSTRI

4

30

400

83

27

55

334

6

6

945

1,071

PT MEGA ELTRA

0

8

42

40

10

20

26

2

1

149

160

12,784

12,869

3. Peningkatan kesejahteraan melalui kenaikan gaji dan tunjangan karyawan berdasarkan merit system.

3. Improving welfare through salary increase and employee benefit on the base of merit system.

Bahkan Perusahaan juga mengutamakan peningkatan kesejahteraan dan kesehatan karyawan yang menjamin rasa tenteram di masa kerja maupun purnabakti. Termasuk di dalamnya pemberian pelayanan kesehatan bagi karyawan dan keluarga, pengelolaan dana pensiun, program pemilikan rumah untuk karyawan, fasilitas ibadah haji bagi karyawan secara selektif serta penyediaan sejumlah fasilitas dan sarana ibadah, pendidikan, olahraga, koperasi dan rekreasi.

Furthermore, the Company has also highlighted the enhancement of employee welfare and health, which ensures peace of mind during their work as well as their retirement. The scheme includes medical service to employees and their spouses, management of pension fund, housing allowance for employees program, selective hajj pilgrimage facilities for employees, and providing numerous facilities for religious activities,

H. Pengembangan Masyarakat, Kehatan dan Lingkungan

H. Community, Health and Environmental Development

education, sports, cooperative and recreation.

Sebagai warga dunia usaha yang berhubungan dengan kepentingan masyarakat, PT Pusri Holding secara konsisten terus berupaya untuk maju sekaligus memberikan manfaat bagi kesejahteraan masyarakat dan lingkungan sekitarnya. Komitmen yang menjadi bagian tak terpisahkan dari budaya Perusahaan tersebut diwujudkan dalam bentuk program berkesinambungan dengan pola yang terpadu.

As a good corporate business dealing with community needs, PT Pusri Holding has been consistently endeavoring to progress and at the same time sharing the benefit for the welfare of community and environment in the vicinity areas. The commitment, which has become an indivisible part of the Company’s Culture, has been put into integrated pattern of continuing programs.

a. Tanggung-jawab Sosial “Memberikan kepuasan kepada pelanggan dan masyarakat melalui produk dan pelayanan yang bermutu...” merupakan perumusan budaya Perusahaan yang mencakup implikasi tanggungjawab sosial secara luas kepada masyarakat. Dalam pelaksanaannya, Perusahaan telah menjalankan strategi melalui berbagai pendekatan, yaitu teknologi, institusional, sosial ekonomi serta budaya.

a. Social Responsibility “Delivering satisfaction to the customers and community through quality product and service ...” is a sheer expression of the Company’s Culture, which implicates extensive social responsibility to the public. In practice, the Company has executed a strategy that conveys several approaches, namely technology, institutional, socio-economy and culture.

Pelaksanaan tanggung-jawab berupa kepedulian sosial yang dilakukan selama ini telah menunjang terjalinnya hubungan interaksi positif yang berkesinambungan antara keluarga besar Pusri Holding dan masyarakat. Pada gilirannya hubungan baik tersebut akan

Bringing responsibility into action in the form of on going social care, which have supported positive continuing interactive relationship between the big family of Pusri Holding at large and the community. In turn the weave of good relationship will create a


menunjang citra dan manfaat berupa dukungan positif bagi Perusahaan, bukan saja untuk saat sekarang melainkan untuk masa-masa yang akan datang.

favourable climate for Company’s image and benefit in the form of positive supports, not only for today but also for the years to come.

b. Kesehatan, Keselamatan Kerja dan Lingkungan Hidup (K3LH) Kebijakan kesehatan dan keselamatan kerja yang ditetapkan Perusahaan bertujuan mendukung pencapaian prestasi dan kenyamanan kerja karyawan. Penerapan Sistem Manajemen Kesehatan dan Keselamatan Kerja (SMK3) yang dilandasi falsafah “Sehat sebelum, selama dan setelah bekerja” telah menunjang produktivitas dan meminimalkan angka kecelakaan kerja. sehingga menghasilkan kualitas dan kenyamanan hidup yang lebih baik.

b. Health, Safety and the Environment The Company policy on health and safety has been directed towards supporting employees in optimizing their performance and providing condusive atmosphere to work. The implementation of Health Management and Work Safety System that is based on the philosophy of “Being healthy before, during and after the work” has proven to encourage productivity and minimize the rate of occupational accident and resulting in quality and better living.

Perusahaan telah menyediakan sarana dan prasarana kesehatan yang memadai, termasuk fasilitas medical check-up yang dilakukan setiap tahun bagi karyawan dan keluarganya. Demikian pula sebagai bagian dari pengabdian masyarakat, PT Pusri juga memberikan pelayanan kesehatan bagi masyarakat di lingkungan sekitarnya. Komitmen untuk melaksanakan kegiatan industri berwawasan lingkungan dan berkelanjutan diwujudkan melalui pengelolaan sumber daya secara efektif dan efisien. Mengambil contoh pengendalian limbah pabrik, Perusahaan telah menerapkan pengurangan jumlah limbah yang dibuang ke media lingkungan berdasarkan empat prinsip, yaitu: pengurangan

The Company has provided health facilities and infrastructures sufficiently, including annual medical check-up facility for employees and their spouses. As part of the community care programs, PT Pusri has also providing medical services for the community people in its surrounding areas. The commitment for an environmental friendly and continuing industrial activities has been manifested through effective and efficient management of resources. Taking plant waste control as an example, the Company has managed to reduce the amount of waste discarded to the environment mode on the base of four principles, namely reduce from its sources, recycle system, recovery and continuing reuse towards clean production.


35

dari sumber (reduce), sistem daur ulang (recycle), pengambilan (recovery) dan pemanfaatan kembali (reuse) secara berkelanjutan menuju produksi bersih. Untuk mencapai sasaran tersebut, PT Pusri juga telah mengadopsi Sistem Manajemen Lingkungan ISO-14001 dengan melibatkan seluruh karyawan untuk berperan aktif dalam melakukan penyempurnaan mutu lingkungan. Sebagai wujud kepedulian terhadap masyarakat dalam hal keselamatan, kesehatan kerja dan lingkungan terkait, Perusahaan juga telah menjadi anggota Komite Nasional Responsible Care(r) Indonesia (KN-RCI). c. Pembinaan Lingkungan Kesuksesan PT Pusri akan lebih bernilai, jika kemajuan itu memberikan manfaat bagi masyarakat di lingkungan tempat Perusahaan beroperasi. Itu sebabnya Perusahaan telah menerapkan kebijakan pembinaan masyarakat lingkungan yang difokuskan pada pendekatan sosial ekonomi dan budaya, dengan sasaran pemberdayaan masyarakat. Untuk tahun 2004 penilaian kinerja lingkungan dari Kementrian Lingkungan Hidup, PT Pupuk Sriwidjaja mendapat predikat “biru”. PT Pusri telah melakukan pembinaan terhadap industri kecil dan kelompok usaha bersama, serta program infrastruktur yang langsung menyentuh kehidupan masyarakat, pembinaan tenaga kerja melalui program pelatihan, pemagangan dan pelatihan ketrampilan untuk menciptakan usaha mandiri. Program bantuan berkala yang dilaksanakan berdasarkan skala prioritas dan merata dalam setiap kelurahan, dapat dirinci sebagai berikut: 1. Bantuan sarana dan prasarana umum seperti sarana jalan, jembatan, tempat ibadah, pendidikan (beasiswa), fasilitas magang, penerangan jalan, kesehatan dan banyak lagi lainnya. 2. Bantuan sarana olahraga dan kesenian, termasuk bantuan dana dan prasarana untuk pelaksanaan PON XVI yang diselenggarakan di Sumatera Selatan.

36


In achieving the objectives, PT Pusri has also adopted the ISO-14001 Environmental Management System by involving entire employees to actively participate in the environmental quality improvement. Proving the community care in the area of safety, health and related environment, the Company has also become the member of the National Committee for the Responsible Care(r) Indonesia (NC-RCI). c. Environmental Development PT Pusri’s success could only means its benefits for the people’s welfare in the community where it operates. That’s why the Company has put into operation a set of community care policy emphasizing on socioeconomics and cultural approaches, for the purpose of empowering the community people. For the year 2004, PT Pupuk Sriwidjaja has obtained “blue” entitlement for the environmental performance assessment from the State Ministry of Living Environment. PT Pusri has conducted guidance for the small industries and community business groups, as well as infrastructure program that directly in touch with the community life, guiding the work force through training programs, internships and skill training to create independent business enterprise. Regular aid program has been carried out in accordance with the priority of scale and equality for each village, can be specified as the following: 1. Public facilities and infrastructure aid such as road facility, bridges, praying houses, education (scholarship), internship, road lights, medical facilities and more. 2. The sports and cultural activity assistance, includes assistance in the form of fund and infrastructures for the 16th National Sports Event (PON) to be held in South Sumatera. 3. Employment opportunity on annual plant improvement activities. 4. Training on enterpreneurship, cooperatives and environmental care.

3. Kesempatan kerja pada kegiatan perbaikan tahunan pabrik. 4. Pelatihan kewirausahaan, koperasi dan lingkungan. 5. Partisipasi aktif dalam program pengentasan kemiskinan dan pemberdayaan masyarakat. d. Pembinaan Usaha Kecil dan Koperasi Eksistensi PT Pusri sebagai perusahaan induk yang bergerak di bidang pupuk, memiliki kaitan langsung dengan kehidupan dan perkembangan usaha kecil dan koperasi di bidang usaha tani dan pangan. Perusahaan mempunyai komitmen untuk mengembangkan dan memajukannya, untuk mendukung terbangunnya struktur perekonomian nasional yang kuat. Melalui Program Kemitraan, Perusahaan melaksanakan pembinaan kepada Usaha Kecil dan Koperasi dalam bentuk peningkatan kemampuan manajerial, modal kerja, modal investasi, pembinaan teknologi dan pemasaran. Tujuannya adalah meningkatkan nilai tambah bagi usahanya sehingga pada akhir masa pembinaan dapat menjadi usaha mandiri. Realisasi penyaluran dana Program Kemitraan dalam bentuk Pembinaan Usaha Kecil dan Koperasi (PUKK) selama tahun 2004 berjumlah total Rp 51,62 miliar dan Bina Lingkungan sebesar Rp 11,82 miliar.

J. Prospek ke Depan

Sejalan dengan prioritas Pemerintah untuk memenuhi kebutuhan pangan seluruh masyarakat, PT Pusri sebagai BUMN holding industri pupuk berada di jajaran terdepan dalam mewujudkan swa-sembada pangan. Menyongsong masa depan yang lebih cerah, PUSRI Holding telah melakukan persiapan dan mentargetkan sejumlah pencapaian usaha yang ditetapkan dalam Rencana Keuangan dan Anggaran Perusahaan (RKAP)

5. Active participation in poverty elimination as well as people’s empowerment program. d. Fostering Small Business and Cooperatives PT Pusri’s existence as a holding company in fertilizer industry is in direct relation with the life and progress of small business and cooperatives in farming and food business. The Company is committed to foster and develop them, by supporting the foundation of a strong national economics structure. Through its Partnership Program, the Company carries out guidance to the Small Business and Cooperatives in the form of improving their managerial skill, working capital, investments capital, fostering technology and marketing. The program is aimed at improving the added value for the business, which is subject to become an independent business enterprise at the end of the fostering period. Realization of the Partnership Program fund in the form of Small Business and Cooperatives Fostering Plan for the year 2004, amounted to Rp 51.62 billion.

J. Towards a Brighter Future

Implementing the Government’s priority in fulfilling the food supply for the whole community, PT Pusri as a Holding State-Owned Company in fertilizer industry is bound to grow and standing in front in realizing the food self-sufficiency plan. Looking ahead into a brighter future, PUSRI Holding has been conducting preparation and achieving the target as capitalized on the Company’s Financial and Budget Plan 2005, through the careful process of planning, consideration and realistic calculation based on the SWOT analysis and previous performance as well as future projection.


37

Realisasi Penyaluran Dana PKBL 2004 Perusahaan

Usaha Kecil (Rp juta)

Koperasi Lain-lain / Hibah Bina (Rp juta) (Rp juta) Lingkungan

Binaan Unit

PT Pusri

9,599.53

282.00

3,576.50

3,826.59

17,284.62

665

PT Petrokimia Gresik

5,408.59

-

834.02

2,087.82

8,330.43

202

PT Pupuk Kujang

3,934.20

-

1,319.33

1,518.38

6,771.91

163

PT Pupuk Kaltim

17,399.14

-

2,729.49

3,413.56

23,542.19

898

PT PIM

1,785.65

-

405.08

352.28

2,543.01

-

PT Rekayasa

3,945.00

290.00

115.40

623.06

4,973.46

-

42,072.11

572.00

8,979.82

11,821.69

63,445.62

1,982

Total

2005, melalui proses perencanaan, pertimbangan dan perhitungan realistis berdasarkan analisis SWOT dan kinerja sebelumnya serta proyeksi masa depan. Tantangan: * Pemerintah masih memprioritaskan pemenuhan kebutuhan pupuk dalam negeri yang mengakibatkan terkendalanya peningkatan potensi ekspor, yang sesungguhnya memberikan perolehan pendapatan yang berarti. * Kebijakan tata-niaga pupuk dengan disparitas harga yang tinggi, sangat membutuhkan pemantauan dan pengamanan yang efektif di lapangan. * Persaingan harga pupuk non-urea dengan pesaing swasta yang semakin ketat. Hal ini kian dipertajam oleh munculnya pupuk alternatif, seperti pupuk alam yang harganya lebih rendah. Tambahan lagi, sejumlah perkebunan besar melakukan impor sendiri jenis KCI dan Rock Phosphate. * Kondisi sebagian pabrik pupuk yang membutuhkan peremajaan dan perbaikan untuk memungkinkan kemampuan produksi yang optimal. * Perusahaan perlu segera mengupayakan ketersediaan pasokan gas bumi dalam jumlah cukup secara kontinyu dengan harga sesuai, atau menghadapi alternatif terburuk harus menutup sebagian pabrik. Peluang: * PT Pusri Holding memiliki keahlian dan pengalaman serta jaringan kerja yang luas untuk mengoptimalkan kinerjanya di bidang pemasaran, produksi, keuangan, SDM, penelitian & pengembangan, dan jasa teknik. * Komitmen pemerintah untuk menghidupkan industri melalui pengaturan tata niaga pupuk yang lebih efektif, sejalan dengan misi Perusahaan untuk menyediakan dan menyalurkan pupuk sampai ke tingkat konsumen.

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Total Dana Yang Disalurkan


Challenges: • The government is still prioritizing on the fulfillment of domestic fertilizer needs, which inflict hindrances on export potential enhancement that in reality provide significant revenue for the Company. • The policy of fertilizer trading system with high disparity of price has called for effective monitoring and security measures in the field. • Tighter competition of non-urea fertilizer price with the private enterprises, in addition to the existence of alternative fertilizer, such as natural fertilizer with a more economical price. Moreover, several big plantations have conducted their own import for the type of KCl and Rock Phosphate. • Condition of the aged fertilizer plants in urgent need of replacement and refurbishment to enable reaching their full production capacity. • The Company should immediately put the best effort in obtaining sufficient and continuing natural gas supply at the right price, or facing the worse alternative of closing down parts of the plants. Opportunities: • PT Pusri Holding possesses outstanding expertise, experience and comprehensive network to optimize the performance in the fields of marketing, production, finance, HRD, research and development as well as technical services. • The government’s commitment in reviving the industry by conducting effective arrangement of the fertilizer trading system, in line with the Company’s mission to provide and distribute fertilizer up to the consumer level. • The product diversification strategy to deal with the increasing demand of compound fertilizer, that goes hand in hand with the farmers education program for balanced-fertilizer utilization.

* Strategi diversifikasi produk untuk menjawab kebutuhan akan pupuk majemuk yang terus meningkat, yang diimbangi dengan program edukasi petani untuk penggunaan pupuk berimbang. * Peluang berafiliasi dengan pemasok-pemasok gas bumi untuk menjamin kelancaran dan konsistensi proses produksi yang berpengaruh pada efisiensi dan optimalisasi produksi. Sebagai BUMN pupuk yang menunjang kemajuan pertanian dan ketahanan pangan nasional, PT Pusri menyambut baik tekad Pemerintah untuk membangkitkan industri pupuk. Seiring peningkatan kemampuan dan profitabilitas, berupa perolehan laba sebelum pajak (konsolidasi) tahun 2004 yang melebihi target sebesar Rp 527 miliar atau 56 persen di atas RKAP, PT Pusri sangat siap melanjutkan darma baktinya kepada masyarakat dan bangsa, dengan meraih peluang untuk pertumbuhan yang berkelanjutan. Demikianlah, Laporan Tahunan PT Pusri yang memberikan informasi utama mengenai kinerja operasional Perusahaan selama tahun 2004. Laporan Keuangan yang telah diaudit oleh Badan Pemeriksa Keuangan disajikan pada bagian selanjutnya.

• The opportunity to affiliate with the natural gas suppliers in ensuring smooth and consistent production process, which affect the production efficiency and optimization. Bearing an essential role in supporting the advancement of agricultural sector and national food security program, as a fertilizer state-owned company, PT Pusri positively supports the Government assertion in reviving the fertilizer industry by means of concrete realization. In line with the enhancement of capability and profitability, such as income before tax (consolidated) achievement in the year 2004, which increases by more than Rp 527 billion or 56 percent above the Annual Budget Plan, PT Pusri is thoroughly geared up to continue delivering its ultimate services to the country and nation, by seizing the opportunity to sustainable growth. This PT Pusri Annual Report conveys main information on the operational performance of the Company during 2004. The Financial Report – duly audited by the Supreme Audit Agency (BPK) – is presented in subsequent part.

Ir. Dadang Heru Kodri, MM President Director

Ir. H. Indra Jaya HM Production Director

Drs. Wiyas Yulias Hasbu, Ak, MBA

Ir. Sutarto Budidarmo

Technic & Development Director

Finance Director

Ir. Bowo Kuntohadi, MM Marketing Director

Djafarudin Lexy Sonatha, SE, MM HRD & General Affairs Director


39

Informasi Manajemen • Management Information

40


Service Office in Jakarta Training & Development Department

Daily Coordination

Under the Director of Research & Development

Financial Department

Under the Director of Finance

Financial Compartment

Accounting Department

Plan & Dev Compatment Technical & Engineering Compatment

Information Technology Department Corp Plan & Development Department Research & Development Department

Technical Service Marketing Sub Department

Technical Service Department Engineering Service Department

General Administration & Financial Sub Department

Territory Marketing Department III Commercial Compartment

TECHNICAL & ENGINEERING DIRECTOR MARKETING DIRECTOR

Operational & Dev Corp Department

Logistic Department

Territory Marketing Department II Territory Marketing Department I Procurement & Exp Department

PRODUCTION DIRECTOR

Fleet & Bagging Department

Inspection Environmental Department

Market Planning & Building Sub Department

General Administration & Financial Sub Department General Administration & Financial Sub Department

Production Compartment

Maintenance Department Production Technical Department Operation Department II

Corporate Secretary

Operation Department 1

Internal Audit

PRESIDENT DIRECTOR

Organization Chart

Bagan Organisasi

FINANCIAL DIRECTOR

HR & GENERAL DIRECTOR

Adm & Fin Analysis Corp Department

Under the Director of Commercial

General Department

Under the Director of Production

Security Department

Under the Director of Technical & Engineering

General Environmental Department

Under the President Director

General & Industrial Relation Compartment

Human Resources Adm Department

Public Relation & Lawyer Department Business Information Department Operational Audit Department Financial Audit Department

Fertilizer Bagging Expedition by Product Sales Sub Department

Dewan Komisaris

Board of Commissioners

Drs. Mahmuddin Yasin, MBA President Commissioner

Menjabat Komisaris Utama PT Pusri sejak Juli 2004, dan saat ini menjabat Deputi Restrukturisasi & Privatisasi pada Kementerian BUMN sejak 2001. Sarjana ekonomi perusahaan Universitas Krisnadwipayana (1982) dan meraih gelar MBA di Washington University, St.Louis, USA tahun 1986. President Commissioner of PT Pusri since July 2004, and current Deputy of Restructurization and Privatization at the Ministry of State Owned Companies since 2001. An economic graduate of Universitas Krisnadwipayana (1982) who obtained her MBA degree at the Washington University, St.Louis, USA in 1986.

Adolf Warouw, SH, LLM Commissioner

Menjabat Komisaris PT Pusri sejak September 2004. Sebelumnya menjadi Staf Ahli Menteri Keuangan Bidang Hubungan Ekonomi dan Keuangan Internasional (1999-2004). Sarjana hukum Universitas Indonesia (1969) dan menyelesaikan program pasca sarjana di Law School, Harvard University, USA tahun 1976. Commissioner of PT Pusri since September 2004, after his post as Expert Staff in International Economy and Finance Relation of the Minister of Finance. A Law graduate of the University of Indonesia (1969) and completed his postgraduate study at the Law School, Harvard University, USA in 1976.

DR. Ir. Kardaya Warnika Commissioner

Menjabat Komisaris PT Pusri sejak September 2004, dan saat ini menjadi Kepala BP Migas serta Ketua Umum IATMI. Sarjana teknik perminyakan ITB, Bandung (1978) dan sarjana ekonomi Universitas Indonesia (1978), menyelesaikan program pasca sarjana di bidang ekonomi perminyakan di Institut Francais du Petrole (1985) dan program doktornya di bidang ekonomi energi pada Univesite de Dijon, Perancis tahun 1987. Commissioner of PT Pusri since September 2004, and current Chairman of BP Migas and Chairman if IATMI. A petroleum technical graduate of ITB, Bandung (1978) and economic graduate of the University of Indonesia (1978), completed his post graduate study in petroleum economy at the Institut Francais du Petrole (1985) and accomplished his doctorate program in energy economy at the Universite de Dijon, France in 1987.

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May Jen TNI (Pur) Cholid Ghozali, SE Commissioner

Menjabat Komisaris PT Pusri sejak Mei 2002 setelah sebelumnya menjadi anggota DPR (1996-1997) dan Inspektur Jenderal Deperindag (1998-2002). Lulusan Akademi Militer Nasional (1965), Sekolah Staf dan Komando AD Amerika Serikat (1979), Sekolah Staf dan Komando ABRI (1985), Army War College (1988) dan menyelesaikan pendidikan ekonomi di STIE Jagakarsa tahun 1997. Commisioner of PT Pusri since May 2002, having previously become a member of the House of Representatives (DPR) in 1996-1997, and Inspector General of the Department of Industrial and Trade (1998-2002). An alumni of the National Military Academy (1965), US Army Staff and Command School (1979), Indonesian Army Staff and Command School (1985), Army War College (1988) and completed his education at the STIE Jagakarsa in 1997.

Drs. Trimada Dani, MM Commissioner

Menjabat Komisaris PT Pusri sejak September 2004 setelah masa pengabdian selama 33 tahun di Kepolisian RI, termasuk menjadi Kadispen Polri (1997-1998). Lulusan Akabri Kepolisian (1970), Perguruan Tinggi Ilmu Kepolisian (PTIK) tahun 1978, SESKO ABRI (1994) dan sejumlah kursus perwira, menyelesaikan pendidikan pasca sarjana di IPWI Jakarta tahun 2000. Commissioner of PT Pusri since September 2004, after 33 years service with the Police of the Republic of Indonesia, that includes Head of Information Service (1997-1998). A graduate of the Police Military Academy (1970), College of Police Science in 1978, Indonesian Military Staff and Command School (1994) and a number of military officer’s courses, completed his post graduate study at the IPWI Jakarta in 2000.

Ir. Rifana Erni, MBA Commissioner

Diangkat menjadi Komisaris PT Pusri sejak September 2004, saat ini menjabat Dirjen Perdagangan Dalam Negeri sejak 2002. Sarjana teknologi kimia tekstil dari Institut Teknologi Tekstil Bandung (1979) dan menyelesaikan program master bidang International Business Management di University of Bridgeport, Connecticut, USA tahun 1991. Commissioner of PT Pusri since September 2004, and current Director General of Domestic Trading since 2002. A textile chemical technology graduate from theBandung Textile Insitute (1979) and accomplished his master in International Business Management at the University of Bridgeport, Connecticut, USA in 1991.


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Dewan Direksi

Board of Directors

Ir. Dadang Heru Kodri, MM President Director

Menjabat Direktur Utama PT Pusri sejak Agustus 2004, setelah sebelumnya memimpin PT Pupuk Kujang sejak 2001. Sarjana teknik kimia ITB Bandung (1975) dan menyelesaikan program pasca sarjana dalam bidang manajemen internasional & keuangan di ST-PPM, Jakarta tahun 1997. President Director of PT Pusri since August 2004, after having managed PT Pupuk Kujang since 2001. A chemical technic graduate from ITB, Bandung (1975) and accomplished his post graduate study in international & financial management at the ST-PPM, Jakarta in 1997.

Ir. H. Indra Jaya HM Production Director

Menjabat Direktur Produksi sejak September 2004, setelah mengawali karir yang konsisten di PT Pusri sejak 1979 hingga menjadi Kepala Kompartemen Produksi (2002-2004). Menyelesaikan pendidikan di Fakultas Teknik Kimia, Universitas Gajah Mada (1979). Production Director of PT Pusri since September 2004, after his continuous career in PT Pusri since 1979 to become Head of the Production Compartment (2002-2004). Completed his education at the Chemical Engineering Faculty, Gajah Mada University in 1979.

Drs. Wiyas Yulias Hasbu, Ak, MBA Finance Director

Menjabat Direktur Keuangan PT Pusri sejak September 2004, setelah perjalanan karirnya di sejumlah perusahaan di lingkungan PT Pusri Holding sejak 1979. Sarjana ekonomi akuntansi Universitas Padjajaran (1978), dan menyelesaikan program MBA-nya di City of Manila University, Manila tahun (1995). Finance Director of PT Pusri since September 2004, having spent his career at the subsidiary companies of PT Pusri Holding since 1979. Economic accountant graduate of the University of Padjadjaran (1978), and completed his MBA program at the City of Manila University, Manila in 1995.

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Ir. Bowo Kuntohadi, MM Marketing Director

Menjabat Direktur Pemasaran PT Pusri sejak September 2004, melengkapi jenjang karirnya sejak 1978 di Pupuk Kaltim sejak 1978. Sarjana teknik sipil Universitas Indonesia (1974) dan meraih peringkat II lulusan magister manajemen bidang agrobisnis Universitas Gajah Mada tahun 1989. Marketing Director of PT Pusri since September 2004, highlighting his 27 years career with Pupuk Kaltim since 1978. Civil engineering graduate from the University of Indonesia (1974) and obtained 2nd rank in agrobusiness magister management at the Gajah Mada University in 1989.

Ir. Sutarto Budidarmo

Technic & Development Director Menjabat Direktur Teknik & Pengembangan PT Pusri sejak September 2004, setelah menduduki jabatan yang sama selama 4,5 tahun di PT Pupuk Iskandar Muda. Menyelesaikan pendidikan di Fakultas Teknik Kimia, Institut Teknologi Bandung tahun 1973. Technic & Development Director of PT Pusri since September 2004, continuing his 4,5 years same function at PT Pupuk Iskandar Muda. Completed his education at the Chemical Engineering Faculty, of the Bandung Institute of Technology in 1973.

Djafarudin Lexy Sonatha, SE, MM

Human Resources & General Affairs Director Menjabat Direktur SDM & Umum PT Pusri sejak September 2004 setelah sebelumnya menjadi Sekretaris Perusahaan (2003-2004). Sarjana Ekonomi dari STIE Jakarta (1994) dan menyelesaikan pendidikan magister manajemen pada ST Manajemen Labora tahun 1996. Human Resources & General Affairs Director of PT Pusri since September 2004, following his previous post as Corporate Secretary (2003-2004). An Economic Management graduate at STIE Jakarta (1994) and completed his magister management degree at ST Manajemen Labora in 1996.


45

Pa Lokasi Pabrik, Unit Pengantongan dan Wilayah Kerja Pupuk Bersubsidi Location of Fertilizer Plants, Bagging Units and Subsidized Fertilizer Work Area

(dalam ribuan ton)

MYANMAR

AAF 1 Pabrik Urea Prill 627

PKT 3 Pabrik Urea Prill 1.840 2 Pabrik Urea Granule 1 Lhok Seumawe

Belawan

Medan

PIM 1 Pabrik Urea Prill 600

PUSRI 4 Pabrik Urea Prill 2.262

Dumai

SUMATRA

Pontianak

Padang Jambi

KALIMANTAN

Samarind

Banjarmasin Bandar Lampung Panjang PKC 1 Pabrik Urea Prill 570

Jakarta

Cirebon

JAWA Cilacap PKG 1 Pabrik Urea Prill 462 3 Pabrik ZA 650 2 Pabrik SP-36 1.000 1 Pabrik rik NPK 300

46


Semarang Surabaya BALI

Banyuwangi

Mataram

Pabrik Pupuk • Fertilizer Plant UPP • Fertilizer Bagging Unit

Wilayah Pelayanan Pupuk Urea Bersubsidi:

Wilayah Pelayanan Pupuk Iskandar Muda Wilayah Pelayanan Pupuk Sriwidjaja

0 1.140

Wilayah Pelayanan Pupuk Kalimantan Timur Wilayah Pelayanan Pupuk Kujang

Wilayah Pelayanan Petrokimia Gresik

Keterangan:

Pupuk Non Urea (ZA, SP-36, NPK) ke sektor subsidi di seluruh Indonesia merupakan wilayah kerja PT Petrokimia Gresik.

Bitung

da

Palu Jayapura

SULAWESI Pare-pare

MALUKU

Kendari

Ambon

IRIAN JAYA

Ujung Pandang

Dili

Merauke

Kupang SUMBAWA


47

Laporan Keuangan • Financial Reports

48


BADAN PEMERIKSA KEUANGAN REPUBLIK INDONESIA SUPREME AUDIT AGENCY REPUBLIC OF INDONESIA

Nomor : 03.A.2/Auditama V/GA/II/2005

Nomor : 03.A.2/Auditama V/GA/II/2005

LAPORAN AUDITOR INDEPENDEN

REPORT OF THE INDEPENDENT AUDITOR

Kami telah mengaudit neraca konsolidasi PT Pupuk Sriwidjaja (Persero) dan anak perusahaannya tanggal 31 Desember 2004 dan 2003, serta laporan laba rugi, laporan perubahan ekuitas dan laporan arus kas konsolidasian untuk tahun yang berakhir pada tanggal-tanggal tersebut. Kami juga melakukan pengujian atas kepatuhan perusahaan terhadap peraturan perundang-undangan dan pengendalian intern. Laporan Keuangan, kepatuhan terhadap peraturan perundang-undangan dan pengendalian intern adalah tanggung jawab manajemen perusahaan. Tanggung jawab kami terletak pada pernyataan pendapat atas laporan keuangan, kepatuhan terhadap peraturan perundang-undangan dan pengendalian intern berdasarkan audit kami. Kami tidak mengaudit laporan keuangan anak-anak perusahaan yaitu PT Pupuk Kujang, PT Pupuk Iskandar Muda, PT Rekayasa Industri dan PT Mega Eltra. Laporan keuangan anakanak perusahaan tersebut menyajikan total aktiva sebesar Rp 16.634.711.021.000,00 pada tanggal 31 Desember 2004, dan total laba bersih setelah pajak sebesar Rp 439.309.592.000,00 untuk tahun yang berakhir pada tanggal tersebut.

We have audited the accompanying consolidated balance sheets of PT Pupuk Sriwijaya (Persero) and its subsidiary companies as of December 31, 2004 and 2003, and the related statements of income, changes in equity and consolidated cash flows for the years then ended. We have also conducted verification on the Company’s compliance to the regulations and internal control. The Financial Statements, compliance to the regulations and internal control are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements, compliance to the regulations and internal control based on our audits. We do not audit the financial reports of its subsidiaries, namely PT Pupuk Kujang, PT Pupuk Iskandar Muda, PT Rekayasa Industri and PT Mega Eltra. The financial statements of the subsidiaries present a total asset of Rp 16,634,711,021,000 as at December 31, 2004 and a total net earning after tax of Rp 439,309,592,000 for the year then ended.

Laporan keuangan anak-anak perusahaan tersebut diaudit oleh auditor independen lain dengan pendapat wajar tanpa pengecualian, yang laporannya telah diserahkan kepada kami, dan pendapat kami, sejauh yang berkaitan dengan jumlah-jumlah untuk anak-anak perusahaan tersebut, semata-mata hanya didasarkan atas laporan auditor independen lain tersebut. Kami melaksanakan audit berdasarkan Standar Audit Pemerintahan yang diterbitkan Badan Pemeriksa Keuangan Republik Indonesia dan standar auditing yang ditetapkan Ikatan Akuntan Indonesia. Standar tersebut mengharuskan kami merencanakan dan melaksanakan audit agar kami memperoleh keyakinan memadai bahwa laporan keuangan bebas dari salah saji material. Suatu audit meliputi pemeriksaan, atas dasar pengujian, bukti-bukti yang mendukung jumlahjumlah dan pengungkapan dalam laporan keuangan. Audit juga meliputi penilaian atas prinsip akuntansi yang digunakan dan estimasi signifikan yang dibuat oleh manajemen, serta penilaian terhadap penyajian

The financial reports of the subsidiary companies have been audited by another independent auditor with normal opinion without exception, the reports of which have been sent to us, and our opinion, as far as concerning the figures of each subsidiary; it is only based on other independent auditor’s reports. We have conducted our audits in accordance with the Governance Audit Standards issued by the Supreme Audit Agency of the Republic of Indonesia (BPK) and the Auditing Standards stipulated by the Indonesian Accountants Association. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial reports. The audit also includes assessing the Company’s compliance to accounting principles used and significant estimates made by the management, as well as assessing the overall presentation of the financial reports. Apart from that, the audit includes examination of the Company’s compliance to the contract agreement, requirements of aid and certain articles of the laws and regulations and compliance to


49

laporan keuangan secara keseluruhan. Selain itu audit mencakup pengujian atas kepatuhan perusahaan terhadap kontrak, persyaratan bantuan dan pasalpasal tertentu peraturan perundang-undangan serta kepatuhan terhadap pengendalian intern. Kami yakin bahwa audit kami memberikan dasar memadai untuk menyatakan pendapat. Menurut pendapat kami, berdasarkan audit kami dan laporan auditor independen lain yang kami sebut diatas, laporan keuangan konsolidasian yang kami sebut diatas menyajikan secara wajar, dalam semua hal yang material, posisi keuangan PT Pupuk Sriwidjaja (Persero) dan anak-anak perusahaannya tanggal 31 Desember 2004 dan 2003, dan hasil usaha, serta arus kas untuk tahun yang berakhir pada tanggal-tanggal tersebut sesuai dengan prinsip akuntansi yang berlaku umum di Indonesia. Audit kami laksanakan dengan tujuan untuk menyatakan pendapat atas laporan keuangan pokok secara keseluruhan. Laporan keuangan induk perusahaan disajikan untuk tujuan analisa tambahan dan bukan merupakan bagian laporan keuangan pokok yang diharuskan menurut prinsip akuntansi yang berlaku umum di Indonesia. Laporan keuangan induk perusahaan tersebut telah menjadi objek prosedur audit yang kami terapkan dalam audit atas laporan keuangan pokok, dan, menurut pendapat kami, disajikan secara wajar, dalam semua hal yang material, berkaitan dengan laporan keuangan pokok secara keseluruhan. Kepatuhan terhadap peraturan perundang-undangan dan pengendalian intern kami sampaikan secara terpisah kepada manajemen dengan laporan kami nomor 03.B.2/ Auditama V/GA/II/2005 tanggal 28 Pebruari 2005.

50


internal control. We believe that our audits provide a reasonable basis for our opinion. In our opinion, based on our audit and other independent auditor referred to, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of PT Pupuk Sriwijaya (Persero) and its subsidiaries as at December 31, 2004 and 2003, and the results of its operations, and their cash flows for the years then ended in conformity with accounting principles generally accepted in Indonesia. The audit has been conducted for the purpose of expressing opinion on overall main financial statements. The holding company’s financial statement has been presented for the purpose of additional analysis and is not becoming parts of the obliged main financial statements in accordance with the accounting principles generally accepted in Indonesia. The holding company’s financial statement referred to, has become the object of our audit procedures, which have been conducted in the audit of main financial statement, and, in our opinion, has been fairly presented, in relation with the overall main financial statements. The compliance to the laws and regulations and internal control has been separately submitted to the management by our letter number 03.B.2/Auditama V/GA/II/2005 dated February 28, 2005.

Neraca Konsolidasian

Consolidated Balance Sheets

NERACA KONSOLIDASIAN PER 31 DESEMBER 2004 DAN 2003 (dalam ribuan Rupiah)

AKTIVA

(in thousands Rupiah)

2004

2003

ASSETS

Disajikan Kembali

AKTIVA LANCAR - Kas dan setara kas - Deposito berjangka - Surat berharga - Piutang usaha - Piutang lain-lain - Uang muka - Persediaan - Pajak dibayar dimuka - Beban dibayar di muka - Pendapatan yang masih harus diterima

2,079,544,467 6,200,000 42,883,394 782,538,361 750,970,713 233,622,482 2,101,443,493 30,244,118 149,311,548 7,345,699

1,907,800,447 356,716,490 29,624,426 1,096,073,180 539,585,445 236,355,912 1,561,695,279 0 98,440,857 5,632,194

CURRENT ASSETS Cash on hand in banks Time deposits Marketable securities Trade receivables Other receivables Advance payments Inventory Prepaid Tax Prepaid expenses Accrued Income

Jumlah aktiva lancar

6,184,104,275

5,831,924,230

Total Current assets

175,163,608

189,097,608

152,491,810 1,351,167,090 8,157,811,220 24,143,672 177,482,933 176,387,461 329,530,759 100,577,002

144,061,041 1,317,630,288 8,017,110,256 23,434,340 173,077,110 174,333,920 307,048,631 75,678,308

Akumulasi penyusutan

10,469,591,947 (4,909,184,776)

10,232,373,894 (4,400,396,223)

Nilai buku aktiva tetap

5,560,407,171

5,831,977,671

Net book value

Aktiva dalam pelaksanaan

6,426,716,359

3,610,701,360

Construction in progress

232,857,186 35,078,267 3,387,375 61,108,616 20,667,606 131,504,533

361,644,370 24,862,806 4,262,848 42,743,268 20,751,338 69,825,097

4,717

31,325

AKTIVA TIDAK LANCAR Investasi jangka panjang Aktiva tetap - Tanah - Bangunan dan sarana - Pabrik dan peralatan pabrik - Mesin bengkel kerja - Kendaraan dan alat berat - Kapal, lokomotif dan gerbong - Perlengkapan kantor dan lainnya - Aktiva penyangga

Aktiva lain-lain - Beban yang ditangguhkan - Piutang jangka panjang - Aktiva tetap tidak digunakan lagi - Material dan suku cadang - Suku cadang dan bahan pembantu lama bergerak - Aktiva lainnya - Kliring piutang suku cadang dan bahan pembantu

NON CURRENT ASSETS Long term investments Fixed assets Land Building and facilities Plant and equipment Repairshop machinery Vehicles and heavy equipment Vessels, locomotives and wagons Office and house equipment & others Supporting equipment Accumulated depreciation

Other assets Deferred charges Long term receivables Idle fixed assets Material and spare parts Unmoving spare parts and suplements Other assets Spare parts and suplements Lending & borrowing Total other assets

484,608,300

524,121,052

Jumlah aktiva tidak lancar

12,646,895,438

10,155,897,691

Total non current assets

JUMLAH AKTIVA

18,830,999,713

15,987,821,921

TOTAL ASETS

Jumlah aktiva lain-lain


51


(dalam ribuan Rupiah)

KEWAJIBAN DAN EKUITAS

2004

2003

LIABILITIES AND EQUITY

Disajikan Kembali

KEWAJIBAN JANGKA PENDEK : - Pinjaman jangka pendek - Hutang usaha - Hutang pajak - Bagian hutang jangka panjang yang jatuh tempo dalam satu tahun - Hutang lain-lain - Beban yang masih harus dibayar - Pendapatan diterima di muka

264,950,146 1,444,137,158 133,100,206

51,800,000 945,348,906 181,804,739

528,144,872 351,289,580 637,259,285 184,439,577

1,281,684,598 326,675,569 859,414,659 106,297,854

CURRENT LIABILITIES Short term loan Trade payables Taxes payable Current portion of long term loan Other payables Accurred expenses Unearned income

Jumlah kewajiban jangka pendek

3,543,320,824

3,753,026,325

Total current liabilities

KEWAJIBAN JANGKA PANJANG : - Kewajiban pajak tangguhan - Pinjaman dalam negeri - Pinjaman luar negeri - Kewajiban jangka panjang lainnya

182,179,434 1,452,924,447 5,310,189,112 705,884,878

149,699,838 1,959,478,364 2,936,442,669 30,079,014

LONG TERM LIABILITIES Deferred tax liabilities Local loan Foreign loan Other long term liabilities

Jumlah kewajiban jangka panjang

7,651,177,871

5,075,699,885

Total long term liabilities

4,574,948 8,349,938

14,021,254 25,295,850

OTHER LIABILITIES Inprovement and management funds Deferred income

Jumlah kewajiban lain-lain

12,924,886

39,317,104

Total other liabilities

HAK SAHAM MINORITAS

75,652,164

69,207,335

MINORITY INTERESTS

KEWAJIBAN LAIN-LAIN : - Dana pembinaan dan biaya manajemen - Pendapatan yang ditangguhkan

E K U ITA S MODAL: - Modal dasar - Modal saham dalam portepel

SHARE CAPITAL Authorized Outstanding

10,000,000,000 (6,280,232,000)

10,000,000,000 (6,365,232,000)

- Modal disetor dan ditempatkan

3,719,768,000

3,634,768,000

Subscribed and paid in

SALDO LABA

3,828,155,968

3,415,803,272

PROFIT

18,830,999,713

15,987,821,921

JUMLAH KEWAJIBAN DAN EKUITAS

52

EQUITY


TOTAL LIABILITIES AND EQUITY

Laporan Laba Rugi Konsolidasian Consolidated Statements of Income

LAPORAN LABA RUGI KONSOLIDASIAN UNTUK TAHUN YANG BERAKHIR TANGGAL 31 DESEMBER 2004 DAN 2003 (in thousands Rupiah)

(dalam ribuan Rupiah)

URAIAN

2004

2003

DESCRIPTION

Disajikan Kembali

13,060,138,512 9,524,553,583

11,380,540,761 8,311,365,119

Laba bruto

3,535,584,929

3,069,175,642

Gross profit

Beban usaha Beban administrasi dan umum Beban penjualan

1,532,987,243 656,467,552

1,359,221,660 436,908,839

Operating expenses General administration Selling expenses

2,189,454,795

1,796,130,499

1,346,130,134

1,273,045,143

Beban pinjaman

347,424,092

376,845,003

Loan expenses

Laba sebelum pendapatan dan beban lain-lain Pendapatan dan beban lain-lain

998,706,042 154,899,178

896,200,140 272,463,539

Profit before other income & expenses Other income and expenses

1,153,605,220

1,168,663,679

Penjualan Harga pokok penjualan

Jumlah beban usaha Laba usaha

Laba/(rugi) sebelum pajak

Sales Cost of goods sold

Total operating expenses Operating profit

Net profit before tax

Pajak penghasilan Pajak kini Pajak tangguhan

(348,781,864) (32,580,062)

(376,300,484) (67,483,242)

Income tax Income tax Deferred tax expense / (Income)

Jumlah pajak penghasilan

(381,361,926)

(443,783,726)

Total income tax

772,243,294

724,879,953

Profit before minority interests in subsidiaries

Pemilikan minoritas anak perusahaan

10,251,864

8,092,596

Laba/(rugi) bersih setelah pemilikan minoritas anak perusahaan

761,991,430

716,787,357

Laba/(rugi) sebelum pemilikan minoritas anak perusahaan

Minority interests Net profit after minority interests in subsidiaries


53

Laporan Perubahan Ekuitas Konsolidasian

Consolidated Statements of Change in Stockholders Equity

LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN UNTUK TAHUN YANG BERAKHIR TANGGAL 31 DESEMBER 2004 DAN 2003 (dalam ribuan Rupiah)


SALDO LABA KETERANGAN 1 Saldo per 31 Desember 2002 (Disajikan Kembali) - Koreksi Bonus ex PT Pupuk Kaltim

-

Penerimaan atas kelebihan setoran pajak Koreksi/pembayaran kekurangan pajak Koreksi cadangan Pembagian laba : - Cadangan - Dividen - Pembayaran tantiem & gratifikasi - Dana pembinaan - Hak minoritas - Laba tahun 2003

Saldo per 31 Desember 2003

-

-

Penambahan penyertaan Pemerintah kepada PT Pupuk Iskandar Muda melalui PT Pusri Koreksi cadangan Pembagian laba - Cadangan - Dividen - Pembayaran tantiem & gratifikasi - Dana pembinaan Hak minoritas Laba tahun 2004

Saldo per 31 Desember 2004

54


MODAL

CADANGAN

LABA TAHUN BERJALAN

JUMLAH

JUMLAH EKUITAS

2

3

4

5=3+4

6=2+5

3,634,768,000

2,222,359,819 (51,445,460 )

807,699,273 0

3,030,059,092 6,664,827,092 (51,445,460 ) (51,445,460 )

3,634,768,000

2,170,914,359

807,699,273

2,978,613,632

0 0 0

4,489,090 (15,533,187 ) 13,969,729

0 0 0 0 0 0

539,657,615 (539,657,615 ) 0 (240,949,698 ) 0 (8,769,335 ) 0 (18,322,625 ) (14,481,691 ) 0 - 716,787,357

3,634,768,000

85,000,000 0

2,699,015,915

(85,000,000 ) (2,453,377 )

0 0 0 0 0 0

453,379,957 0 0 0 1,222,043

3,719,768,000

3,066,164,538

0 0 0

716,787,357

0 0 (453,379,957 ) (222,646,748 ) (10,803,122 ) (29,957,530 ) 0 761,991,430 761,991,430

4,489,090 (15,533,187 ) 13,969,729

0 (240,949,698 ) (8,769,335 ) (18,322,625 ) (14,481,691 ) 716,787,357

0 (240,949,698 ) (8,769,335 ) (18,322,625 ) (14,481,691 ) 716,787,357

(85,000,000 ) (2,453,377 )

(222,646,748 ) (10,803,122 ) (29,957,530 ) 1,222,043 761,991,430 3,828,155,968

Balance as at December 31, 2001

6,613,381,632

4,489,090 (15,533,187 ) 13,969,729

3,415,803,272

DESCRIPTION

7,050,571,272

Revenue from exes tax payment Adjustment /payment in tax defisit Distribution of profit Deferred Dividend Tantiem & gratification Reserve for the development Minority interest Profit for the year 2003 Balance as at December 31, 2002

0 (2,453,377 )

(222,646,748 ) (10,803,122 ) (29,957,530 ) 1,222,043 761,991,430 7,547,923,968

Distribution of profit Deferred Dividend Tantiem & gratification Reserve for the development Minority interest Profit for the year 2004 Balance as at December 31, 2003

Laporan Arus Kas Konsolidasian

Consolidated Statements of Cash Flows

LAPORAN ARUS KAS KONSOLIDASIAN UNTUK TAHUN YANG BERAKHIR TANGGAL 31 DESEMBER 2004 DAN 2003 (DALAM RIBUAN RUPIAH)

URAIAN

(IN THOUSANDS RUPIAH)

2004

2003

DESCRIPTION

DISAJIKAN KEMBALI

ARUS KAS DARI AKTIVITAS OPERASI LABA/(RUGI) BERSIH SEBELUM PAJAK PENYESUAIAN UNTUK REKONSILIASI LABA KE KAS DARI AKTIVITAS OPERASI. PENURUNAN (KENAIKAN) SURAT BERHARGA PENURUNAN (KENAIKAN) PIUTANG PENURUNAN (KENAIKAN) PERSEDIAAN PENURUNAN (KENAIKAN) PAJAK DIBAYAR DIMUKA PENURUNAN (KENAIKAN) BEBAN DIBAYAR DI MUKA PENURUNAN (KENAIKAN) PENDAPATAN MASIH HARUS DITERIMA

PENURUNAN (KENAIKAN) AKTIVA LAIN-LAIN KENAIKAN (PENURUNAN) HUTANG KENAIKAN (PENURUNAN) BEBAN YANG MASIH HARUS DIBAYAR

KENAIKAN (PENURUNAN) PENDAPATAN DITERIMA DI MUKA

KENAIKAN (PENURUNAN) KEWAJIBAN LAIN-LAIN KENAIKAN (PENURUNAN) HUTANG JANGKA PANJANG YANG AKAN JATUH TEMPO

BEBAN PENYUSUTAN HAK MINORITAS SUB JUMLAH PENURUNAN (KENAIKAN) KAS ARUS KAS DARI AKTIVITAS INVESTASI PENURUNAN (KENAIKAN) INVESTASI/PENYERTAAN PENURUNAN (KENAIKAN) AKTIVA DALAM PELAKSANAAN PENURUNAN (KENAIKAN) AKTIVA TETAP SUB JUMLAH PENURUNAN (KENAIKAN) KAS ARUS KAS DARI AKTIVITAS PENDANAAN PENARIKAN (PEMBAYARAN) PINJAMAN PENARIKAN HUTANG JANGKA PANJANG PEMBAGIAN LABA : DIVIDEN PEMBAYARAN TANTIEM & GRATIFIKASI DANA PEMBINAAN KOREKSI CADANGAN PENERIMAAN ATAS KELEBIHAN SETORAN PAJAK KOREKSI/PEMBAYARAN KEKURANGAN PAJAK SUB JUMLAH PENURUNAN (KENAIKAN) KAS

1,153,605,220

1,168,663,679

(13,258,968 ) 104,882,981 (539,748,214 ) (30,244,118 ) (50,870,691 )

(2,038,122) 146,244,035 250,567,902 0 (51,483,787)

(1,713,505 ) 39,512,752 93,335,804

(2,484,885) (106,336,391) (301,248,114)

(222,155,374 )

14,990,082

78,141,723 (26,392,218 )

(13,176,326) 68,049,261

(753,539,726 ) 508,788,553 (2,584,992 ) (815,845,993 )

(2,109,803) 500,316,971 1,655,889 502,946,712

13,934,000 (2,816,014,999 ) (237,218,053 ) (3,039,299,052 )

(13,886,259) 838,344,018 (1,727,214,253) (902,756,494)

CASH FLOWS FROM OPERATIONAL ACTIVITIES NET PROFIT BEFORE TAX ADJUSMENTS RECONSILIATION OF PROFIT TO CASH FROM OPERATIONS

DECREASE (INCREASE) IN SECURITIES DECREASE (INCREASE) IN RECEIVABLES DECREASE (INCREASE) IN INVENTORY DECREASE (INCREASE) IN PREPAID EXPENSES DECREASE (INCREASE) IN ACCRUED INCOME

DECREASE (INCREASE) IN OTHER ASSETS INCREASE (DECREASE) IN PAYABLES INCREASE (DECREASE) IN ACCRUED EXPENSES

INCREASE (DECREASE) IN UNEARNED INCOME

INCREASE (DECREASE) IN OTHER EXPENSES INCREASE (DECREASE) IN CURRENT PORTION OF LONG TERM LOAN

DEPREACIATION EXPENSE MINORITY INTERESTS SUBTOTAL OF DECREASE (INCREASE) OF CASH CASH FLOWS FROM INVESTMENT ACTIVITIES DECREASE (INCREASE) IN INVESTMENT DECREASE (INCREASE) IN CONSTRUCTION IN PROGRESS DECREASE (INCREASE) IN FIXED ASSETS SUB TOTAL OF DECREASE (INCREASE) OF CASH CASH FLOWS FROM FUNDING ACTIVITIES DRAW DOWN (REPAYMENT) OF LOAN DRAW DOWN (REPAYMENT) OF LONG TERM LOAN DISTRIBUTION OF PROFIT : DIVIDEND TANTIEM & GRATIFICATION RESERVE FOR THE DEVELOPMENT ADJUSMENT IN BALANCE OF PROFIT REVENUE FROM EXCESS TAX PAYMENT ADJUSMENT/PAYMENT IN TAX DIFISIT SUB TOTAL OF DECREASE (INCREASE) OF CASH

213,150,146 2,575,477,986

(440,400,000) 196,111,869

(222,646,748 ) (10,803,122 ) (29,957,530 ) (2,453,377 ) 0 0 2,522,767,355

(240,949,698) (8,769,335) (18,322,625) 13,969,729 4,489,090 (15,533,187) (509,404,157)

TOTAL KENAIKAN/(PENURUNAN) KAS BERSIH KAS DAN SETARA KAS AWAL TAHUN KAS DAN SETARA KAS AKHIR TAHUN

(178,772,470 ) 2,264,516,937 2,085,744,467

259,449,740 2,005,067,197 2,264,516,937

TOTAL INCREASE/(DECREASE) IN NET CASH CASH & CASHEQUIVALENT AT BEGINING OF YEAR CASH &CASH EQUIVALENT AT YEAR END

TERDIRI DARI : - KAS DAN BANK - DEPOSITO

2,079,544,467 6,200,000

1,907,800,447 356,716,490

CONSISTING OF : CASH ON HAND AND IN BANKSDEPOSITS


55

Kontribusi kepada Pemerintah Contribution to the Government

KONTRIBUSI KEPADA PEMERINTAH (KONSOLIDASI) UNTUK TAHUN BUKU YANG BERAKHIR TANGGAL 31 DESEMBER 2004 DAN 2003 (dalam ribuah Rupiah)

KETERANGAN


2004

2003

DESCRIPTION

Disajikan Kembali

PAJAK BUMI DAN BANGUNAN (PBB)

19,133,456

17,408,994

PAJAK DAN RETRIBUSI DAERAH Retribusi air permukaan Retribusi tanah/ Pengerukan sungai Musi Pajak kendaraan diatas air Pajak Pembangunan I (PBn-1) Retribusi Penerangan Jalan (Listrik) Pajak kendaraan bermotor Pajak alat-alat berat Pajak Reklame Ijin Mendirikan Bangunan (IMB / HGB) Pajak Galian C Retribusi air limbah Retribusi pupuk kantong Retribusi listrik pemakaian sendiri

5,814,208 1,647,000 18,304 570,076 7,925,686 652,787 5,244 6,000 1,015,000 4,874 104,762 459,420 249,472

4,749,196 540,726 18,304 559,144 5,922,110 667,656 2,000 284,000 352,944 398,167

18,472,833

13,494,247

134,543,345 46,386,116

104,687,600 35,520,834

1,105,367 501,230 10,014,361 21,405,274 -

592,232 3,461,408 171,271 76,373,163 12,508,130 3,152,000

55,599,495

6,161,953

269,555,188

242,628,591

49,603,720 28,259,809 182,694,407 93,860,771

29,504,598 15,221,472 215,968,276 109,753,987

354,418,707

370,448,333

899,835,402

704,343,937

(446,038,318) 8,110,280

(428,983,858) 18,130,079

461,907,364

293,490,158

14,543,220

7,856,497

DIVIDEN

221,969,000

237,281,327

JUMLAH

1,359,999,768

1,182,608,147

WAJIB PUNGUT PPh Pasal 21 (Karyawan) PPh Pasal 23 (WPDN) PPh Pasal 23 (Pasal 4 ayat 2) (WPDN) PPh Pasal 26 (WPLN) Pengalihan Hak (SSP/ SSB) PPN Kepres 56 PPh Pasal 21 (PPh rampung) PPh Pasal 23 final PPh Pasal 29 (Pelunasan PPh Badan tahun lalu)

WAJIB BAYAR PPh Pasal 22 PPh Pasal 23 PPh Pasal 25 (cicilan & fiscal) PPh Pasal 29

PAJAK PERTAMBAHAN NILAI (PPN) PPN keluaran PPN masukan Dapat dikreditkan Tidak dapat dikreditkan

BEA MASUK

56


TAXES ON LAND AND PROPERTY TAXES AND REGIONAL RETRIBUTION Retribution on surface water Land retribution/ Musi river dredging Tax on water riding vehicle Tax on Development Retribution for Road Lighting Tax on Automotive Vehicle Tax on Heavy Equipments Tax on Advertisements Permit on Building Construction Tax on Land Excavation (C category) Retribution on wastage water Retribution on fertilizer bag Retribution on private use of electricity TAXES COLLECTION OBLIGATION Income Tax, Article 21 (Employee) Income Tax, Article 23 (Domestic Tax Payer) Income Tax, Article 23 (Section 4, Verse 2), (Domestic Tax Payer) Income Tax, Article 26 (Foreign Tax Payer) Alteration on Rights Value Added Tax, Presidential Decree No 56 Income Tax, Article 21 (Conclusive Income Tax) Income Tax, Article 23 Final Income Tax, Article 29 (Previous Year’s Institution Income Tax Settlement)

TAXES OBLIGATION Income Tax, Article 22 Income Tax, Article 23 Income Tax, Article 25 (Installment & Fiscal) Income Tax, Article 29

VALUE ADDED TAX Output Sales Tax Input Sales Tax Creditable Non creditable CUSTOMS DIVIDENDS TOTAL

PT PUPUK SRIWIDJAJA (Persero) Kantor Pusat / Head Office Jl. Mayor Zen Palembang 30118 Telp. (62-711) 712111, 712222 Fax. (62-711) 712100, 712020 http://www.pusri.co.id E-mail : [email protected]

Kantor PUSRI Jakarta / Jakarta PUSRI Office Jl. Taman Anggrek Kemanggisan Jaya, Jakarta 11480 Telp. (62-21) 5481208 Fax. (62-21) 5305281, 5480607 E-mail : [email protected]

PT PETROKIMIA GRESIK

Jl. Jend. A. Yani, Gresik 61119 - Jawa Timur Telp. (62-31) 3981811, 3981814, 3982100, 3982200 Fax. (62-31) 3981722, 3982272 http://www.petrogres.co.id E-mail : [email protected]

PT PUPUK KUJANG

Jl. Jend. A. Yani - 39, Cikampek 41373 - Jawa Barat Telp. (62-264) 314336 - 40, 313451 - 52, 316123, 316141 Fax. (62-264) 314235, 314335 http://www.pupuk-kujang.co.id E-mail : info@pupuk_kujang.co.id

PT PUPUK KALIMANTAN TIMUR

Bontang Utara, Kec. Bontang, Kabupaten Kutai Kalimantan Timur Telp. (62-548) 41024, 41202, 41203 Fax. (62-548) 41616, 41626 http://www.pupukkaltim.com E-mail : [email protected]

PT PUPUK ISKANDAR MUDA

Jl, Raya Medan - Banda Aceh Krueng Geukeuh - Lhok Seumawe 24310 Nangroe Aceh Darussalam Telp. (62-645) 56222 Fax. (62-645) 56095 http://www.pim.co.id E-mail : [email protected]

PT REKAYASA INDUSTRI

Jl. Kalibata Timur I No. 36 Jakarta 12740 Telp. (62-21) 7988700, 7988707 Fax. (62-21) 7988701, 7988702 http://www.rekayasa.com E-mail : [email protected]

PT MEGA ELTRA

Jl. Menteng Raya No. 27 Jakarta 10340 Telp. (62-21) 3909018 (Hunting), 3909437 Fax. (62-21) 3909326, 3102937 http://www.megaeltra.co.id E-mail : [email protected]

To be a world-class company in the fertilizer, petrochemical and technical services by maximizing values of the firm and customers satisfaction

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