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COMPANY REPORT

ACES
ACE HARDWARE INDONESIA TBK.

Company Profile

PT Ace Hardware Indonesia Tbk (“the Company”) was established under the name of PT
Kawan Lama Home Center based on Notarial Deed No. 17 of Benny Kristanto, S.H., dated
February 3rd, 1995.

According to Article 3 of the Company, the scope of its activities is to conduct general
trading, including import and export activities also running the business as an agent or
distributor. Current business activities of the Company comprises of retail sales goods for
household and lifestyle needs.
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The Company domiciled at Gedung Kawan Lama 5 Floor, Jln. Puri Kencana No. 1 Meruya
Kembangan, Jakarta.

The Company has 59.997% ownership in subsidiary PT Toys Game Indonesia.

August 2010

Disclaimer:
The facts and opinions stated or expressed in this publication are for information purposes only and are not necessarily and must not be relied upon as being those of the publisher or
of the institutions for which the contributing authors work. Although every care has been taken to ensure the accuracy of the information contained within the publication it should not be
by any person relied upon as the basis for taking any action or making any decision. The Indonesia Stock Exchange cannot be held liable or otherwise responsible in anyway for any
advice action taken or decision made on the basis of the facts and opinions stated or expressed or stated within this publication.
Ace Hardware Indonesia Tbk [S] ACES
TRADING ACTIVITIES
CLOSING PRICE* AND TRADING VOLUME
Closing Volume Closing Price Freq. Volume Value

Day
ACE HARDWARE INDONESIA TBK [S]
Price* NOVEMBER 2007 - AUGUST 2010 (Mill. Sh) Month High Low Close (X) (Thou. Sh) (Million Rp)
1,925 140 Nov-07 1,030 820 850 3,629 268,393 251,173 19
Dec-07 870 810 870 428 54,711 46,006 16
Jan-00 - - - - - - -
1,650 120
Jan-08 870 750 840 341 49,057 40,713 20
Feb-08 1,020 840 1,000 757 92,087 88,142 19
1,375 100 Mar-08 1,010 960 1,010 671 67,185 66,698 18
Apr-08 1,030 920 950 631 53,575 51,925 22
May-08 980 940 940 157 29,274 27,961 19
1,100 80 Jun-08 960 870 870 124 222,341 199,355 17
Jul-08 930 870 910 147 39,285 35,339 21
Aug-08 960 910 940 143 14,106 12,954 13
825 60
Sep-08 950 880 900 69 30,864 27,976 10
Oct-08 880 660 750 82 20,548 16,689 11
550 40 Nov-08 810 660 800 127 44,646 33,235 19
Dec-08 820 750 750 27 15,907 12,576 8
Jan-00 - - - - - - -
275 20 Jan-09 810 610 630 86 40,658 29,279 14
Feb-09 650 610 650 15 4,365 2,775 6
Mar-09 800 650 690 15 2,097 1,403 7
Nov 07 Nov 08 Nov 09 Apr-09 800 680 800 48 4,325 3,000 18
May-09 930 800 920 84 13,994 12,240 16
Jun-09 950 900 920 125 130,683 122,136 17
Jul-09 1,090 920 1,090 114 41,619 40,316 19
CHANGE OF CLOSING PRICE Aug-09 1,110 1,030 1,110 143 8,475 8,811 16
TRADE INDEX AND JAKARTA COMPOSITE INDEX Sep-09 1,230 1,090 1,230 138 17,661 20,461 17
NOVEMBER 2007 - AUGUST 2010
Oct-09 1,510 1,220 1,510 249 42,821 56,768 20
120% 120%
Nov-09 1,600 1,480 1,550 233 2,601 3,982 20
100% 100% Dec-09 1,550 1,480 1,510 115 2,119 3,229 18
Jakarta Composite Index
Trade Index Jan-00 - - - - - - -
80% Closing Price 80% Jan-10 1,530 1,400 1,450 144 1,509 2,221 19
Feb 10
Feb-10 1 470
1,470 1 320
1,320 1 360
1,360 122 5 031
5,031 6 826
6,826 12
60% 60% Mar-10 1,670 1,360 1,640 286 17,451 25,872 20
Apr-10 1,720 1,610 1,710 101 15,962 25,857 17
40% 40% May-10 1,730 1,700 1,730 179 16,781 28,964 14
Jun-10 1,810 1,730 1,800 57 6,436 11,240 16
20% 20% Jul-10 1,870 1,810 1,840 76 17,404 31,564 18
Aug-10 1,870 1,780 1,780 160 4,622 8,405 17
- -
Sep-10 - - - - - - -
Oct-10 - - - - - - -
-20% -20%
Nov-10 - - - - - - -
-40% -40% Dec-10 - - - - - - -
Jan-00 - - - - - - -
-60% -60% Jan-11 - - - - - - -
Feb-11 - - - - - - -
-80% -80% Mar-11 - - - - - - -
Nov 07 Nov 08 Nov 09 Apr-11 - - - - - - -
May-11 - - - - - - -
Jun-11 - - - - - - -
SHARES TRADED 2006 2007 2008 2009 Aug-10 Jul-11 - - - - - - -
Volume (Million Shares) 0 323 679 311 85 Aug-11 - - - - - - -
Value (Billion Rp) 0 297 614 304 141 Sep-11 - - - - - - -
Frequency (X) 0 4,057 3,276 1,365 1,125 Oct-11 - - - - - - -
Days 0 35 197 188 133 Nov-11 - - - - - - -
Dec-11 - - - - - - -
Price (Rupiah) Jan-00 - - - - - - -
High 0 1,030 1,030 1,600 1,870 Jan-12 - - - - - - -
Low 0 810 660 610 1,320 Feb-12 - - - - - - -
Close 0 870 750 1,510 1,780 Mar-12 - - - - - - -
Close* 0 870 750 1,510 1,780 Apr-12 - - - - - - -
May-12 - - - - - - -
PER (X) - 33.03 9.85 17.31 19.40 Jun-12 - - - - - - -
PER Industry (X) 0.00 12.81 8.30 17.60 18.37 Jul-12 - - - - - - -
PBV (X) 0.00 13.85 1.90 3.14 3.28 Aug-12 - - - - - - -
Sep-12 - - - - - - -
* Adjusted price after corporate action
Ace Hardware Indonesia Tbk. [S] ACES
Financial Data and Ratios
Public Accountant : RSM Aryanto, Amir Jusuf, Mawar & Saptoto (Member of RSM International) Book End : December

BALANCE SHEET Dec-2006 Dec-2007 Dec-2008 Dec-2009 Jun-2010


TOTAL ASSETS AND LIABILITIES
(Million Rp except Par Value) (Billion Rupiah)
Cash & Cash Equivalents 99,648 98,688 395,772 435,299 1,125
R
Receivable
i bl 19
19,266
266 21
21,142
142 13,966
13 966 80,829
80 829 Assets Liabilities
900
Inventories 91,618 197,984 95,569 63,701
Current Assets 575,711 619,284 775,772 743,746 675

Fixed Assets 48,036 82,784 105,122 113,992


450
Other Assets 18,689 21,856 22,872 4,419
Total Assets 704,403 790,277 970,556 1,049,987
225
Growth (%) 12.19% 22.81% 8.18%
-
Current Liabilities 103,971 91,853 73,186 81,574 2007 2008 2009 Jun-10
Long Term Liabilities 13,550 20,966 29,601 34,718
Total Liabilities 117,521 112,819 102,787 116,292
Growth (%) -4.00% -8.89% 13.14% TOTAL EQUITY (Billion Rupiah)

931
Minority Interest - - 1 2,953 931 868
Authorized Capital 480,000 480,000 480,000 480,000
677
Paid up Capital 171,500 171,500 171,500 171,500
745

587
Paid up Capital (Shares) 1,715 1,715 1,715 1,715
558

Par Value 100 100 100 100


Retained Earnings 61,477 186,135 328,146 391,119 372

Total Equity 586,881 677,458 867,768 930,741


Growth (%) 15.43% 28.09% 7.26% 186

INCOME STATEMENTS Dec-2006 Dec-2007 Dec-2008 Dec-2009 Jun-2010


-

2007 2008 2009 Jun-10


Total Revenues 886,625 1,279,834 1,358,775 737,327
Growth (%) 44.35% 6.17%

TOTAL REVENUES (Billion Rupiah)


Expenses 559,483 777,113 806,337 424,233
Gross Profit 327,142 502,721 552,437 313,094 1,359
1,359
1,280
Operating Expenses 230,276 338,244 374,236 216,819
Operating Profit 96,866 164,477 178,201 96,275 1,087

Growth (%) 69.80% 8.34% 887


815
737

Other Income (Expenses) -11,669 18,980 28,129 3,031


Income before Tax 85,198 183,458 206,330 99,306
544

Tax 25,129 52,815 51,888 21,659


272

Minority Interest - - 0.002 1,048


Net Income 60,068 130,643 154,443 78,695 -

Growth (%) 117.49% 18.22% 2007 2008 2009 Jun-10

RATIOS Dec-2006 Dec-2007 Dec-2008 Dec-2009 Jun-2010


Current Ratio (%) 553.72 674.21 1,060.00 911.74 NET INCOME (Billion Rupiah)
Dividend (Rp) - 3.49 7.60 9.20 - 154
EPS (Rp) 35.03 76.18 90.05 45.89 154

131
BV (Rp) 342.20 395.02 505.99 542.71
DAR (X) 0.17 0.14 0.11 0.11
124

DER(X) 0.20 0.17 0.12 0.12


93

79
ROA (%) 12.10 23.21 21.26 9.46
60
ROE (%) 14.52 27.08 23.78 10.67 62

GPM (%) 36.90 39.28 40.66 42.46


OPM (%) 10.93 12.85 13.11 13.06 31

NPM (%) 6.77 10.21 11.37 10.67


Payout Ratio (%) 9.96 9.98 10.22 -
-

Yield ((%)) 0.40 1.01 0.61 - 2007 2008 2009 Jun-10

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