Perusahaan Perseroan Persero PT Telekomunikasi Indonesia Tbk : Financial Statements (Unaudited) 1Q 2020

Perusahaan Perseroan (Persero)

PT Telekomunikasi Indonesia Tbk and its subsidiaries

Consolidated financial statements as of March 31, 2020 (unaudited) and for the three months period then ended (unaudited)

PERUSAHAAN PESEROAN (PERSERO)

PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES

CONSOLIDATED FINANCIAL STATEMENTS

AS OF MARCH 31, 2020 AND FOR THE THREE MONTHS PERIOD THEN ENDED

(UNAUDITED)

TABLE OF CONTENTS

Page
Statement of the Board of Directors
Consolidated Statement of Financial Position	1
Consolidated Statement of Profit or Loss and Other Comprehensive Income	2
Consolidated Statement of Changes in Equity	3-4
Consolidated Statement of Cash Flows	5
Notes to the Consolidated Financial Statements	6-128

These consolidated financial statements are originally issued in the Indonesian language.

PERUSAHAAN PERSEROAN (PERSERO)

PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As of March 31, 2020 (unaudited) and December 31, 2019 (audited) (Figures in tables are expressed in billions of Rupiah, unless otherwise stated)

Notes	March 31, 2020	December 31, 2019
ASSETS
CURRENT ASSETS
Cash and cash equivalents	2c,2e,2u,3,33,38	24,365	18,242
Other current financial assets	2c,2e,2u,4,33,38	1,234	554
Trade receivables - net provision for impairment of receivables	2g,2u,2ae,5,38
Related parties	2c,33	2,435	1,792
Third parties	12,489	10,005
Contract assets	2r,2u,2ae,6,38	748	-
Other receivables - net of provision for impairment of receivables	2g,2u,38	176	292
Inventories - net provision for obsolescence	2h,7	681	585
Assets held for sale	2j,11	39	39
Contract cost	2r,2ae,9	342	-
Prepaid taxes	2t,28a	2,702	2,569
Claim for tax refund	2t,28b	914	992
Other current assets	2c,2i,2m,8,33	4,839	6,652
Total Current Assets	50,964	41,722
NON-CURRENT ASSETS
Long-term investments	2f,2u,10	2,059	1,944
Property and equipment - net of accumulated depreciation	2l,2m,2ab,11,36	153,575	156,973
Right of use assets	2m,2ae,12	19,980	-
Intangible assets - net of accumulated amortization	2d,2k,2n,2ab,14	6,391	6,446
Deferred tax assets - net	2t,2ae,28f	2,824	2,898
Contract assets	2r,2u,2ae,6,38	327	-
Contract cost	2r,2ae,9	757	-
Other non-current assets	2c,2g,2i,2n,2t,2u,13,28,33,38	5,037	11,225
Total Non-Current Assets	190,950	179,486
TOTAL ASSETS	241,914	221,208
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Trade payables	2o,2u,15,38
Related parties	2c,33	691	819
Third parties	12,957	13,078
Other payables	2u,38	733	449
Taxes payable	2t,28c	4,278	3,431
Accrued expenses	2c,2u,16,33,38	14,854	13,736
Unearned income - current	2r	666	7,352
Contract liabilities	17a	6,748	-
Advances from customers	2c,33	2,194	1,289
Short-term bank loans	2c,2p,2u,18a,33,38	8,624	8,705
Current maturities of long-term borrowings	2c,2m,2p,2u,2v,18b,33,38	12,301	9,510
Total Current Liabilities	64,046	58,369
NON-CURRENT LIABILITIES
Deferred tax liabilities - net	2t,2ae,28f	1,008	1,230
Unearned income - net of current portion	2r	-	803
Contract liabilities	2r,2ae,17b	823	-
Long service award provisions	2s,32	1,094	1,066
Pension benefits and other post-employment
benefits obligations	2s,31	8,230	8,078
Long-term borrowings - net of current maturities	2c,2m,2p,2u,2v,19,33,38	39,503	33,869
Other liabilities	2o,2u	663	543
Total Non-Current Liabilites	51,321	45,589
TOTAL LIABILITIES	115,367	103,958
EQUITY
Capital stock	1c,21	4,953	4,953
Additional paid-in capital	2w,22	2,711	2,711
Other equity	2f,2u,23	779	408
Retained earnings
Appropriated	30	15,337	15,337
Unappropriated	82,667	76,152
Net equity attributable to:
Owners of the parent company	106,447	99,561
Non-controlling interest	2b,20	20,100	17,689
TOTAL EQUITY	126,547	117,250
TOTAL LIABILITIES AND EQUITY	241,914	221,208

These consolidated financial statements are originally issued in the Indonesian language.

PERUSAHAAN PERSEROAN (PERSERO)

PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND COMPREHENSIVE INCOME

For the Three Months Period Ended March 31, 2020 and 2019 (unaudited) (Figures in tables are expressed in billions of Rupiah, unless otherwise stated)

Notes
REVENUES	2c,2r,24,33	34,194	34,840
Operation, maintenance and telecommunication service expenses	2c,2r,26,33	(8,252)	(10,709)
Depreciation and amortization expenses	2k,2l,2m,11,12,14	(6,849)	(5,642)
Personnel expenses	2c,2r,2s,25,33	(3,451)	(3,132)
Interconnection expenses	2c,2r,33	(1,519)	(1,268)
General and administrative expenses	2c,2r,27,33	(1,572)	(1,294)
Marketing expenses	2c,2r,33	(641)	(907)
Gains (losses) on foreign exchange - net	2q	205	(45)
Other income (expenses) - net	2l,2r	(186)	186
OPERATING PROFIT	11,929	12,029
Finance income	2c,33	219	276
Finance cost	2c,2p,2r,33	(1,215)	(996)
Share of profit (loss) of associated companies - net	2f,10	(9)	20
PROFIT BEFORE INCOME TAX	10,924	11,329
INCOME TAX (EXPENSE) BENEFIT	2t,2ae,28
Current	(2,831)	(2,849)
Deferred	208	24
(2,623)	(2,825)
PROFIT FOR THE PERIOD	8,301	8,504
OTHER COMPREHENSIVE INCOME
Other comprehensive income to be reclassified to profit
or loss in subsequent periods:
Foreign currency translation	2f,2q,23	419	(26)
Change in fair value of available-for-sale financial assets	2u,23	-	3
Share of other comprehensive income of associated companies	2f,10	4	(4)
Other comprehensive income not to be reclassified to profit
or loss in subsequent periods:
Defined benefit actuarial gains (losses) - net	2s,31	-	-
Other comprehensive income (losses) - net	423	(27)
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD	8,724	8,477
Profit for the period attributable to:
Owners of the parent company	5,862	6,224
Non-controlling interests	2b,20	2,439	2,280
8,301	8,504
Total comprehensive income for the period attributable to:
Owners of the parent company	6,285	6,197
Non-controlling interests	2b	2,439	2,280
8,724	8,477
BASIC EARNING PER SHARE
(in full amount)	2x,29
Net income per share	59.17	62.83
Net income per ADS (100 Series B shares per ADS)	5,917.49	6,282.92

2020

2019