Pertamina Lubricants Annual Report PDF

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LUBRICANTS 2015 Integrated Annual Report Gedung Oil Center Lantai 6, Jl. MH. Thamrin Kav 55 Jakarta Pusat 10350 Phone : +62 21 3190 7190 Fax : +62 21 314 8886 Email : [email protected] Website : www.pertaminalubricants.com 2015 Integrated Annual Report LUBRICANTS AcceleRAtIng ActIons, Strengthening ...

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LUBRICANTS

2015

Integrated Annual Report

Gedung Oil Center Lantai 6, Jl. MH. Thamrin Kav 55 Jakarta Pusat 10350 Phone : +62 21 3190 7190 Fax : +62 21 314 8886 Email : [email protected] Website : www.pertaminalubricants.com

2015

Integrated Annual Report

LUBRICANTS

AcceleRAtIng ActIons, Strengthening FoundationS

Accelerating Actions, Strengthening Foundations PT Pertamina Lubricants menuju ‘World Class Lubricants Company’ mulai menapakkan kakinya di pasar Asia, dengan dibukanya anak perusahaan Pertamina Lubricants Thailand Co., Ltd yang akan memegang peran penting dalam penguasaan pasar pelumas di kawasan Indochina. Selain itu, produk PT Pertamina Lubricants telah merambah hingga Australia, Afrika, dan Eropa. Situasi ini semakin menyemangati kami untuk terus meningkatkan kualitas produk dan kepuasan pelanggan.

PT Pertamina Lubricants has paved the way to become the World Class Lubricants Company’ by stepping into Asian market with the opening of subsidiary Pertamina Lubricants Thailand Co., Ltd., which will play an important role to penetrate lubricants market in the Indochina region. In addition, PT Pertamina Lubricant’s products has expanded to Australia, Africa, and Europe. The situation has encouraged us to continuously improve the quality of our products and customer satisfaction.

Hingga akhir tahun 2015, survei kepuasan pelanggan kami di dunia industri memberikan nilai 4 dari total skala 5, yang menunjukkan kepuasan mereka atas layanan dan produk PT Pertamina Lubricants. Disamping itu, survei yang dilakukan oleh pihak independen menyebutkan bahwa PT Pertamina Lubricants mampu menguasai 59,09% pasar pelumas, grease, specialties products dan base oil products secara nasional.

By the end of 2015, our satisfaction survey for industrial sector resulted with score 4 of scale of 5, indicating their satisfaction on the services and products of PT Pertamina Lubricants. In addition, a survey conducted by an independent party found that PT Pertamina Lubricants managed to control 59.09% share of the national market of lubricants, grease, specialties products and base oil products.

Tekad kami terus mengembangkan inovasi produk, diantaranya menjadikan kemasan lebih tahan bocor. Keamanan produk dan jaminan keaslian juga kami lengkapi dengan mencantumkan nomor batch menggunakan sinar laser (laser marker) dan kelengkapan dokumen Material Safety Data Sheet (MSDS) pada setiap pengiriman produk. Lebih jauh, kami telah menerapkan konsep pabrik modern dan terintegrasi di Production Unit Jakarta (PUJ).

We are determined to continue developing innovative products, including more leak proof packaging. We also guarantee the product safety and authenticity by engraving batch number using laser marker and equip Material Safety Data Sheet (MSDS) documents for each product shipment. Furthermore, we have applied the concept of modern and integrated plant at Production Unit Jakarta (PUJ).

Kami ingin maju dengan cepat dan mendekatkan diri kepada para konsumen kami. Untuk itu kami terus mengembangkan sumber daya manusia melalui Pusat Pelatihan Pemasaran Pelumas

We strive to move fast and get closer to our consumers. Thus we continue to develop human resources through Integrated Lubrication Management Academy (ILMA). In addition, internally,

Terpadu (ILMA/Integrated Lubrication Management Academy). Di samping itu, secara internal, PT Pertamina Lubricants juga memperkuat jajaran tim manajemen dan meningkatkan efektivitas dengan perubahan pada struktur organisasi.

PT Pertamina Lubricants also strengthens the management team and improve the effectiveness through the changes to the organizational structure.

Kini saatnya kami menguatkan fondasi, berbenah diri dan melangkahkan kaki untuk berlari. Tentu kami tidak sendiri, pada tahun 2015 PT Pertamina Lubricants bekerjasama dengan salah satu brand global, Automobili Lamborghini, sebagai technical partner. Selanjutnya, PT Pertamina Lubricants akan menjadi pemasok produk pelumas khusus dan bahan bakar untuk mesin mobil Lamborghini.

Now is the time for us to strengthen the foundation, reform and take our steps to run. Of course we are not alone, as in 2015 PT Pertamina Lubricants has built collaboration with one of the global brands, Automobili Lamborghini, as a technical partner. PT Pertamina Lubricants will be the supplier of special lubricants and fuel for Lamborghini car engines.

Perhatian kami pada pencapaian kinerja tidak lagi semata pada aspek ekonomi, namun juga pada aspek sosial dan lingkungan. Perubahan bisnis yang cepat memberi semangat bagi PT Pertamina Lubricants untuk mengkristalisasikan ketiga aspek kinerja ini menjadi satu kesatuan yang berkesinambungan dan terintegrasi.

Our focus on the performance achievement has no longer solely on the economic aspect, but the social and environmental aspects as well. Rapid changes in business have further encouraged PT Pertamina Lubricants to crystallize the three aspects of performance into sustainable and integrated unity.

Atas dasar semangat inilah, maka kini di tangan pemangku kepentingan semua, terimalah Laporan Tahunan Terintegrasi pertama kami.

With this spirit, please accept our first Integrated Annual Report that we present to all stakeholders.

Daftar Isi

Daftar Isi | Table of Contents 04

PT Pertamina Lubricants Kini PT Pertamina Lubricants Today Ikhtisar Kinerja Perusahaan Company Performance Highlights Informasi Harga Saham Information on Share Price Informasi Obligasi, Sukuk, atau Obligasi Konversi Information on Bonds, Islamic Bonds (Sukuk), or Convertible Bonds Peristiwa Penting 2015 2015 Event Highlights Tentang Laporan Ini PT Pertamina About This Report Lubricants Kini

4

17

Tanggung Jawab Sosial dan Komposisi Pemegang Saham Composition of Shareholders Lingkungan

178

Struktur Grup Perusahaan | Corporate Group Structure Misi,Asosiasi dan Tujuan CSR Daftar Entitas anak danVisi, Entitas Pelibatan Pemangku Kepentingan List of Subsidiaries and Associates Pembiayaan danLainnya Dampak Keuangan Kronologi Pencatatan Saham dan Efek Chronology of Share Listing

Lembaga Profesi Penunjang Perusahaan Company Supporting Professional Institutions Penghargaan dan Sertifikasi | Awards and Certifications Nama dan Alamat Production Unit, Gudang Nusantara, dan Sales Region Name and Address of Production Unit and Sales Region

Pencapaian Kami Peristiwa Penting 2015

Laporan Dewan Komisaris dan Laporan Dewan Direksi Komisaris dan Direksi

16

Report of the Board of Commissioners and Board of Directors Laporan Dewan Komisaris Laporan Direksi Laporan Dewan Komisaris Report of the Board of Commissioners

Profil Dewan Komisaris Tentang PT Pertamina Lubricants Profile of the Board of Commissioners Laporan Direksi | Report of the Board of Directors

42

PertanggungjawabanStruktur Laporan Tahunan Terintegrasi 2015 Organisasi Responsibility Statement of Integrated Annual Report 2015 Visi dan Misi Perusahaan

43

Tata Kelola Perusahaan yang Baik

66

About PT Pertamina Lubricants Kode Etik

Komitmen Kami | OurStruktur Commitment Tata Kelola Perusahaan Profil Perusahaan | Company Profile Kegiatan Usaha | Business activities Proses Bisnis | Business process

Analisa dan Pembahasan Manajemen

Produk dan Penguasaan Pasar | Product and Market Share Struktur Organisasi | Organizational Structure

Tinjauan Bidang Usaha Produksi

Tim Kami l Our Team dan Distribusi Area Kerja | Work AreaTinjauan Bidang Usaha Penjualan Visi dan Misi Perusahaan | Company Missiondan Tinjauan BidangVision Usahaand Penelitian Produk Tata Nilai PerusahaanPengembangan | Corporate Values Kinerja Keuangan Pekerja PT PertaminaTinjauan Lubricants Employees of PT Pertamina Lubricants

2

77

204 Tata Kelola Perusahaan yang Baik Struktur Pengelolaan SDM Good Corporate Governance

Tentang PT Pertamina Komitmen PadaLubricants Praktik Terbaik GCG

136

Tanggung Jawab Sosial dan Lingkungan Terkait Ketenagakerjaan, Kesehatan, dan Keselamatan Kerja

Komitmen Kami

Profil Direksi | Profile of the Board of Directors Profil Perusahaan

dan Keselamatan Komitmen pada PraktikKesehatan Terbaik Good Corporate Kerja Kinerja Keselamatan Kerja Governance(GCG) Commitment to GCG Best Practices Kinerja Kesehatan Kerja

Pedoman Perilaku | Code of Ethics

Tanggung Jawab Sosial dan

Struktur Tata Kelola Perusahaan Lingkungan Terkait Pengembangan Corporate Governance Structure

217

Sosial dan Kemasyarakatan

Dewan Komisaris | Board of Commissioners

Direksi | Board of Directors Pelaksanaan CSR Bidang

Penilaian terhadap Direksi Sosial Ekonomi Board of Directors Performance Assessment Mekanisme Penyampaian Keluhan Informasi Pemegang Saham TerkaitUtama Dampak Sosial Majority Shareholder Information Hubungan Afiliasi antara Anggota Direksi, Dewan 220Pemegang Masa DepanUtama dan Keberlanjutan Komisaris, dan Saham Affiliated Relations Between Board of Directors, Board of Commissioners, Shareholder 223and Majority Informasi Lain-lain

Laporan Tahunan Terintegrasi PT Pertamina Lubricants 2015

Penghindaran Benturan Kepentingan dan Tata Kelola Barang dan Jasa Avoidance of Conflict of Interest and Governance Goods and Services Komite Nominasi dan Remunerasi Nomination and Remuneration Committee Sekretaris Perusahaan | Corporate Secretary Sistem Pengendalian Internal | Internal Control System Internal Audit Akuntan Publik dan Audit Eksternal Public Accountant and External Audit

Transaksi dengan Pihak Berelasi Material Transactions With Conflict Of Interest and/or Transactions With Related Parties

201

Tanggung Jawab Sosial dan Lingkungan

Social and Environmental Responsibility

Sistem Pelaporan Pelanggaran | Whistleblowing System

Visi, Misi, dan Tujuan Tanggung Jawab Sosial dan Lingkungan Vision, Mission, and Purpose of CSR

Keterbukaan Informasi dan Akses Data Perusahaan Information Disclosure and Company Data Access

Struktur Organisasi Tanggung Jawab Sosial dan Lingkungan CSR Organizational Structure

Penerbitan Laporan Tahunan | Annual Report Publishing Pernyataan Finansial | Financial Statement

Pelibatan Pemangku Kepentingan Stakeholder Engagement

Situs Perusahaan dan Media Informasi Lain Company Site and Other Information Media

Tanggung Jawab Terhadap Konsumen Responsibility to Customers

Kepatuhan dan Perkara Hukum yang Dihadapi Legal Compliance and Cases

Tanggung Jawab Terhadap Lingkungan Responsibility to Environment

Pengelolaan Risiko | Risk Management

Tanggung Jawab Terhadap Ketenagakerjaan Responsibility to Employment

157

Analisa dan Pembahasan Manajemen

Tanggung Jawab Terhadap Pengembangan Sosial dan Kemasyarakatan Responsibility to Social and Community Development

Management Discussion and Analysis Tinjauan Umum | General Overview

Tinjauan Bidang Usaha | Business Sector Overview Integrated Lubrication Management Academy (ILMA) Tinjauan Kinerja Keuangan | Financial Performance Overview Struktur Modal dan Kebijakan Struktur Modal Capital Structure and Policy Ikatan Material atas Investasi Barang Modal Material Ties on Investment of Capital Goods Informasi dan Fakta Material setelah Tanggal Laporan Akuntan Material Information and Facts Subsequent to the Date of the Accountant’s Report Prospek Usaha | Business Prospect Kebijakan Dividen | Dividend Policy Program Kepemilikan Saham oleh Karyawan Employee Stock Ownership Plan

235

Masa Depan dan Kelangsungan Usaha The Future and Business Sustainability

239

Informasi Lain | Other Information

259

Laporan Keuangan | Financial Statement

Realisasi Penggunaan Dana Hasil Penawaran Umum Realization of Uses of Proceeds from Public Offering Investasi, Ekspansi, Divestasi, Penggabungan/Peleburan Usaha, dan Restrukturisasi Utang/Modal Investment, Expansion, Divestment, Merger/Consolidation of Business and Debt/Capital Restructuring

2015 PT Pertamina Lubricants Integrated Annual Report

3

Ikhtisar Keuangan*

[G4-9, G4-EC1]

Financial Performance Highlight (Dalam juta Rupiah, kecuali dinyatakan lain)

Keterangan

(In millions IDR, unless stated otherwise)

2014

2015

Pendapatan

9.327.510

9.061.100

Revenues

Beban Pokok Pendapatan

6.336.172

6.178.462

Cost of Revenue

Laba Bruto

2.961.338

2.882.198

525.093

502.445

Sales & Marketing Expenses General & Administration Expenses

Laporan Laba Rugi (Audited)

Beban Penjualan & Pemasaran

Description Profit/Loss (Audited)

Gross Profit

169.226

180.872

2.262.619

2.198.879

197.402

260.936

2.460.021

2.459.815

597.038

560.206

Laba Tahun Berjalan

1.862.983

1.899.609

Laba Komprehensif

1.862.983

1.899.369

Comprehensive Profit

Total Laba yang Dapat Didistribusikan kepada Entitas Induk

1.862.983

1.899.102

Total Comprehensive Income Attributable to Parent Entity

Beban Umum & Administrasi Laba Usaha Pendapatan (Beban) Lain-lain Laba Sebelum Beban Pajak Beban Pajak

Kepentingan Non Pengendali EBITDA

0

267

2.313.041

2.245.198

Laporan Neraca

Operating Profit Other Revenues (Expenses) Profit Before Tax Tax Expenses Profit for the Year

Non Controlling Interest EBITDA

Balance Sheet 0

17.793

Jumlah Aset

6.443.484

6.938.294

Jumlah Liabilitas

1.477.582

1.530.073

0

3.603

Jumlah Ekuitas

4.995.902

5.408.221

Total Equity

Jumlah Liabilitas & Ekuitas

6.443.484

6.938.294

Total Liabilities & Equity

Arus Kas Aktivitas Operasi

1.521.728

1.988.906

Cash Flow from Operating Activities

Arus Kas Aktivitas Investasi

(33.850)

(21.987.601)

Cash Flow From Investing Activities

0

(1.490.387)

Cash Flow from Financing Activities

Kenaikan Bersih Kas

1.487.878

476.532

Saldo Kas Akhir Tahun

3.281.716

3.764.489

Jumlah Investasi pada Entitas Asosiasi /Joint Venture

Kepentingan Non Pengendali

Laporan Arus Kas

Arus Kas Aktivitas Pendanaan

Total Assets Total Liabilities Non Controlling Interests

Cash Flow Statement

* Catatan Laporan Keuangan disajikan dua tahun karena Perusahaan resmi beroperasi secara penuh di tahun 2014.

4

Total Investments in Associates/Joint Ventures

Increase in Cash Cash Balance at End of Year

Note * The Financial Statement is presented in two full years as the Company started its full operation in 2014.

Laporan Tahunan Terintegrasi PT Pertamina Lubricants 2015

Keterangan

2014

2015

Description

Cash Ratio

226,70%

246,04%

Cash Ratio

Quick Ratio

421,16%

427,28%

Quick Ratio

Operating Profit Margin

24,26%

24,27%

Operating Profit Margin

Net Profit Margin

19,97%

20,96%

Net Profit Margin

Return on Assets (ROA)

28,91%

27,38%

Return On Assets

Return on Equity (ROE)

37,29%

54,13%

Return on Equity

Return on Investment (ROI)

35,11%

32,60%

Return on Investment

Debt to Equity Ratio

22,47%

28,29%

Debt to Equity Ratio

Debt to Asset Ratio

28,98%

22,04%

Debt to Asset Ratio

Collection Periods

10,99

11,77

Collection Periods

Inventory Turnover

96,05

135,36%

Inventory Turnover

Total Asset Turnover

144,76%

66,01%

Total Asset Turnover

Total Equity To Total Asset

77,53%

77,96%

Total Equity To Total Asset Time Interest Earned Ratio

Rasio Keuangan

Financial Ratio

N/A

N/A

Dividen Kas Per Saham

436.612,07

556.398,37

Cash Dividend Per Share

Pendapatan Per Saham

545.765,09

553.494,97

Earnings Per Share

80%

100%

Modal Kerja Bersih

4,648.989,86 juta/million

5.007.560,77 juta/million

Tanggal Pembayaran Dividen

21 Dec 2015

N/A

Time Interest Earned Ratio

Payout Ratio

Payout Ratio Net Working Capital Dividend Payment Date

Ikhtisar Kinerja Operasional Produksi

[G4-9]

Production Operational Performance Highlights Keterangan | Description

2014

2015

∆%

Drum

177.472

159.807,11

(9,95)%

Lithos

147.856

141.310,96

(4,43)%

Bulk

97.016

100.484,63

3,58%

Jumlah | Total

422.344

401.602,70

(4,91)%

2.633

2.331,62

(11,45)%

409

435,45

6,47%

3.042

2.767,07

(9,04)%

Produksi LOBP | LBOP Production (KL)

Produksi Grease | Grease Production (MT) Drum Pail Jumlah | Total

2015 PT Pertamina Lubricants Integrated Annual Report

5

Ikhtisar Kinerja Operasional Penjualan (dalam KL) Sales Operational Performance Highlights (in KL)

∆ 21.85%

(000)

Penjualan Overseas Overseas Sales

542.187

Penjualan Domestik Domestic Sales

444.954

2014

6

2015

Laporan Tahunan Terintegrasi PT Pertamina Lubricants 2015

Kinerja Kesehatan, Keselamatan Kerja dan Lindung Lingkungan [G4-LA6,G4-EN24]

Occupational Health, Safety and Environmental Performance No

Keterangan | Description

1

Total Jam Kerja | Total Working Hours

2

Jam Kerja Hilang | Lost Working Hours

3

Kecelakaan Kerja | Work Accident

Satuan | Unit

2014