Laporan Keuangan Pt Djarum Tbk: A Review of the Financial Performance of One of the Leading Tobacco Companies in Indonesia
Laporan Keuangan Pt Djarum Tbk is the financial report of PT Djarum, a privately-owned company that produces and distributes kretek cigarettes in Indonesia and abroad. Kretek cigarettes are a unique Indonesian creation that mix tobacco with cloves and other ingredients to create a distinctive flavor and aroma. PT Djarum was founded in 1951 in Kudus, Central Java, where the history of kretek began in the 1880s. Today, PT Djarum is one of the largest and most successful tobacco companies in Indonesia, with a market share of about 20% and a portfolio of well-known brands such as Djarum Super, Djarum Black, Djarum Coklat, and LA Lights.
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Financial Highlights of Laporan Keuangan Pt Djarum Tbk
The latest available financial report of PT Djarum is for the year 2019. According to the report, PT Djarum achieved a total revenue of Rp 85.6 trillion, an increase of 8.4% from Rp 78.9 trillion in 2018. The revenue growth was driven by higher sales volume and average selling price of kretek cigarettes, as well as higher export revenue from foreign markets such as Malaysia, Vietnam, Australia, and the United States.
The gross profit of PT Djarum in 2019 was Rp 36.4 trillion, an increase of 10.7% from Rp 32.9 trillion in 2018. The gross profit margin improved slightly from 41.7% to 42.5%, reflecting the company's ability to control its cost of goods sold amid rising raw material prices and excise taxes. The operating profit of PT Djarum in 2019 was Rp 25.1 trillion, an increase of 11.5% from Rp 22.5 trillion in 2018. The operating profit margin also improved slightly from 28.5% to 29.3%, indicating the company's operational efficiency and productivity.
The net profit of PT Djarum in 2019 was Rp 19.6 trillion, an increase of 12% from Rp 17.5 trillion in 2018. The net profit margin increased from 22.2% to 22.9%, reflecting the company's strong profitability and financial performance. The return on equity (ROE) of PT Djarum in 2019 was 35%, an increase from 33% in 2018, indicating the company's high return on its shareholders' investment.
Factors Affecting the Financial Performance of PT Djarum
There are several factors that affect the financial performance of PT Djarum, both positively and negatively. Some of these factors are:
The demand for kretek cigarettes in Indonesia and abroad. Kretek cigarettes are popular among Indonesian smokers, especially among the lower and middle-income segments, due to their affordability, cultural appeal, and perceived health benefits compared to white cigarettes. Kretek cigarettes also have a loyal customer base in some foreign markets, especially among ethnic Indonesians and Asian consumers who appreciate their exotic flavor and aroma.
The competition from other tobacco companies, both domestic and international. PT Djarum faces intense competition from other kretek cigarette producers such as PT Gudang Garam Tbk, PT HM Sampoerna Tbk, and PT Bentoel Internasional Investama Tbk, as well as from white cigarette producers such as PT Philip Morris Indonesia and PT British American Tobacco Indonesia Tbk. These competitors have different strategies, products, prices, distribution channels, and marketing campaigns to attract and retain customers.
The regulation and taxation of the tobacco industry in Indonesia and abroad. The tobacco industry in Indonesia is subject to various regulations and taxes by the government, such as excise taxes, health warnings, advertising restrictions, smoking bans, and plain packaging rules. These regulations and taxes aim to reduce the consumption and production of tobacco products for public health reasons, but they also affect the profitability and growth potential of tobacco companies such as PT Djarum.
The innovation and diversification of PT Djarum's products and businesses. PT Djarum has been investing in research and development to create new and improved products that cater to the changing preferences and needs of its customers. For example, PT Djarum has launched low-tar and low-nicotine kretek cigarettes, flavored kretek cigarettes, clove cigars, e-cigarettes, and herbal cigarettes to appeal to different segments of smokers. PT Djarum has also diversified its businesses into other sectors such as banking, property, hospitality, retail, media, energy, agriculture, and technology to reduce its dependence on tobacco revenue and explore new opportunities for growth.
Conclusion
Laporan Keuangan Pt Djarum Tbk is a financial report that shows the financial performance of PT Djarum, one of the leading tobacco companies in Indonesia that produces and distributes kretek cigarettes. The report reveals that PT Djarum achieved a revenue growth of 8.4%, a gross profit growth of 10.7%, an operating profit growth of 11.5%, and a net profit growth of 12% in 2019, compared to 2018. The report also shows that PT Djarum has a high profitability and return on equity, as well as a strong market position and brand recognition in the tobacco industry.
The financial performance of PT Djarum is influenced by several factors, such as the demand for kretek cigarettes, the competition from other tobacco companies, the regulation and taxation of the tobacco industry, and the innovation and diversification of PT Djarum's products and businesses. These factors present both opportunities and challenges for PT Djarum to maintain and improve its financial performance in the future. PT Djarum needs to continue to adapt to the changing market conditions and customer preferences, as well as to comply with the regulatory and tax requirements, while also pursuing new avenues for growth and development in other sectors.
How to Read and Analyze Laporan Keuangan Pt Djarum Tbk
Laporan Keuangan Pt Djarum Tbk is a document that contains various financial information and data about PT Djarum, such as its income statement, balance sheet, cash flow statement, statement of changes in equity, notes to the financial statements, and auditor's opinion. These financial statements are prepared in accordance with the Indonesian Financial Accounting Standards (PSAK) and audited by an independent public accountant. The financial statements are presented in Indonesian rupiah (Rp) and rounded to the nearest million.
To read and analyze Laporan Keuangan Pt Djarum Tbk, one needs to understand the meaning and purpose of each financial statement, as well as the key financial ratios and indicators that can be derived from them. For example:
The income statement shows the revenue, expenses, and profit or loss of PT Djarum for a certain period of time, usually a year or a quarter. The income statement can be used to measure the profitability, efficiency, and growth of PT Djarum's operations.
The balance sheet shows the assets, liabilities, and equity of PT Djarum at a certain point of time, usually at the end of a year or a quarter. The balance sheet can be used to measure the liquidity, solvency, and financial position of PT Djarum.
The cash flow statement shows the inflows and outflows of cash from PT Djarum's operating, investing, and financing activities for a certain period of time, usually a year or a quarter. The cash flow statement can be used to measure the cash generation, utilization, and management of PT Djarum.
The statement of changes in equity shows the changes in PT Djarum's equity components, such as share capital, retained earnings, and other reserves, for a certain period of time, usually a year or a quarter. The statement of changes in equity can be used to measure the sources and uses of PT Djarum's equity funds.
The notes to the financial statements provide additional information and explanations about the financial statements, such as the accounting policies, assumptions, estimates, judgments, contingencies, commitments, events after the reporting period, and segment information. The notes to the financial statements can be used to enhance the understanding and interpretation of the financial statements.
The auditor's opinion expresses the auditor's view on whether the financial statements present fairly, in all material respects, the financial position, performance, and cash flows of PT Djarum in accordance with PSAK. The auditor's opinion can be used to assess the reliability and credibility of the financial statements.
Benefits and Limitations of Laporan Keuangan Pt Djarum Tbk
Laporan Keuangan Pt Djarum Tbk is a useful source of information for various stakeholders who are interested in or affected by PT Djarum's financial performance and condition. These stakeholders include shareholders, investors, creditors, suppliers, customers, employees, regulators, competitors, analysts, media, and society. Laporan Keuangan Pt Djarum Tbk can provide benefits such as:
Providing an overview and insight into PT Djarum's business activities, strategies, goals, achievements, challenges, risks, opportunities, strengths, weaknesses, threats, and prospects.
Enabling comparison and evaluation of PT Djarum's performance and position against its own historical records or against other companies in the same industry or market.
Facilitating decision making and planning for current and potential stakeholders who want to invest in or do business with PT Djarum.
Enhancing transparency and accountability of PT Djarum's management and governance to its shareholders and other stakeholders.
Improving communication and relationship between PT Djarum and its stakeholders through disclosure and feedback.
However, Laporan Keuangan Pt Djarum Tbk also has some limitations that need to be considered when using it as a source of information. These limitations include:
Being based on historical data that may not reflect the current or future situation or performance of PT Djarum.
Being subject to accounting policies, assumptions, estimates, judgments that may vary from one company to another or from one period to another.
Being influenced by external factors that are beyond PT Djarum's control or influence such as economic conditions political events social trends environmental issues legal regulations technological changes etc.
Being incomplete or insufficient to provide all the relevant or necessary information about PT Djarum's business operations finances risks opportunities etc.
Being susceptible to errors omissions misstatements fraud manipulation etc. that may affect the accuracy validity reliability comparability timeliness etc. of the financial statements.
Therefore Laporan Keuangan Pt Djarum Tbk should be read and analyzed with caution critical thinking professional judgment common sense etc. It should also be supplemented with other sources of information such as annual reports corporate websites press releases analyst reports market data etc. to get a more comprehensive and balanced view of PT Djarum's financial performance and condition.
Conclusion
Laporan Keuangan Pt Djarum Tbk is a financial report that shows the financial performance and condition of PT Djarum, one of the leading tobacco companies in Indonesia that produces and distributes kretek cigarettes. The report reveals that PT Djarum achieved a revenue growth of 8.4%, a gross profit growth of 10.7%, an operating profit growth of 11.5%, and a net profit growth of 12% in 2019, compared to 2018. The report also shows that PT Djarum has a high profitability and return on equity, as well as a strong market position and brand recognition in the tobacco industry.
The financial performance and condition of PT Djarum are influenced by several factors, such as the demand for kretek cigarettes, the competition from other tobacco companies, the regulation and taxation of the tobacco industry, and the innovation and diversification of PT Djarum's products and businesses. These factors present both opportunities and challenges for PT Djarum to maintain and improve its financial performance and condition in the future. PT Djarum needs to continue to adapt to the changing market conditions and customer preferences, as well as to comply with the regulatory and tax requirements, while also pursuing new avenues for growth and development in other sectors.
Laporan Keuangan Pt Djarum Tbk is a useful source of information for various stakeholders who are interested in or affected by PT Djarum's financial performance and condition. However, Laporan Keuangan Pt Djarum Tbk also has some limitations that need to be considered when using it as a source of information. Therefore, Laporan Keuangan Pt Djarum Tbk should be read and analyzed with caution, critical thinking, professional judgment, common sense, etc. It should also be supplemented with other sources of information such as annual reports, corporate websites, press releases, analyst reports, market data, etc. to get a more comprehensive and balanced view of PT Djarum's financial performance and condition. d282676c82
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