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5. PT. Astra Otoparts Tbk Business Report FY ended Dec. 2015

PT. Astra Otoparts Tbk Business Report FY ended Dec. 2015

Factors
1) Sales
-The Company’s sales in the fiscal year ended December 31, 2015 decreased by 4.3% to IDR 11,723.8 billion. The decrease in sales was caused primarily by a decrease in revenue from the Company’s OEM sales due to decreased demand for vehicles. This was partially offset by increased sales in replacement parts and exported components. In particular, the addition of 28 new retail stores improved the sales of replacement parts.

2) Net Income
-The Company’s net income for the fiscal year ended December 31, 2015 was IDR 318.6 billion, a 63.4% decrease from the previous year. Increasing operating expenses and interest expenses, and decreases in gains from fixed asset disposal and net income from associates and joint ventures all contributed to the decrease in net income.

Awards

-Major awards won during the fiscal year ended December 31, 2015

R&D Expenditures

-The Company invested IDR 29.6 billion in research and development during the fiscal year ended December 31, 2015.

R&D Facilities

-The Company conducts R&D activities mainly in the Engineering Development Center Division, established in 2012. More than 100 engineers engage in research and development activities.

Product Development

-In 2015, the Company’s subsidiaries and joint ventures expanded their product portfolios with the following new products.

• PT Astra Komponen Indonesia: Self-designed and produced mirror assemblies for two-wheeled vehicles
• PT Astra Otoparts Tbk – Nusametal Division: Produced retainer, sub oil pans, cover gears, shift cylinders, and bracket compressor mountings
• PT Velasto Indonesia: Produced torque rod assemblies for commercial vehicles
• PT Century Batteries Indonesia: Developed a new heavy-duty battery
• PT Astra Juoku Indonesia: Produced rear combination lamp assemblies and back door trim for passenger cars
• PT Metalart Astra Indonesia: Produced crankshafts and connecting rods for passenger cars
• PT Denso Indonesia: Produced ECUs, sonar electronic control systems, variable camshaft timing systems, and wheel speed sensors

Capital Expenditure

-The Company’s capital expenditure in the fiscal year ended December 31, 2015 totaled IDR 915.2 billion. The Company invested IDR 123.4 billion in associates and joint ventures, and invested IDR 791.8 billion for production capacity increases and business expansions.

-In the fiscal year ended December 31, 2015, the Company expanded the production capacities of the following companies:

• Nusametal division added five lines of machines to improve its machining capacity.
• PT Autoplastik Indonesia added five plastic injection machines to produce plastic components for the automotive market.
• PT Astra Juoku Indonesia added one vibration machine.
• PT Akebono Brake Astra Indonesia added one in-line plating machine and one Cation Electro Deposition (CED) machine.

-During the fiscal year ended December 31, 2015, the Company completed the following investment activities which had started in 2014:

• PT Velasto Indonesia’s new factory in Purwakarta began operations in January 2015.
• PT Metalart Astra Indonesia’s new factory in Karawang International Industrial City began operations in January 2015.
• PT Evoluzione Tyres’ new factory in Subang began operations in May 2015.
• The construction of PT Century Batteries Indonesia’s second factory in Karawang completed in December 2015.