INDOFOOD AGRI RESOURCES LTD
ANNUAL REPORT 2015
17.
Total non-current liabilities of Rp10.0 trillion in December
2015 were 6% higher than Rp9.5 trillion in December 2014.
This was mainly due to the refinancing of certain short-
term facilities to long-term loans as explained above.
However this was partially offset by higher deferred tax
liabilities.
The Group reported negative working capital of Rp1.1
trillion in December 2015. The Group is currently in the
midst of reviewing its funding alternatives to optimise its
capital structure and current ratio.
CASH FLOWS
The Group generated lower net cash flows from operations
of Rp1.7 trillion in 2015 compared to Rp2.8 trillion in 2014.
The decline was mainly due to lower operating profit
in 2015. The Group recorded higher depreciation and
amortisation during the periods arising from additions of
fixed assets.
Net cash flows used in investing activities in 2015
was Rp3.4 trillion. This comprised principally capital
expenditure relating to additions of fixed assets, biological
assets and advances for projects of Rp2.2 trillion, and
further investment in associate companies and a JV of
Rp0.9 trillion. In 2015, no net proceeds were raised from
financing activities. As a result, Group cash levels declined
from Rp3.6 trillion in December 2014 to Rp2.0 trillion in
December 2015.
NAV per share
(Rp)
10,322
9,876
10,309
2013
2014
2015
Collection of FFB
Profit from Operations
(Rp trillion)
1.7
1.3
2.5
2013
2014
2015
Revenue
(Rp trillion)
13.8
13.3
15.0
2013
2014
2015
Net Profit to Equity Holders
(Rp trillion)
0.8
0.1
0.5
2013
2014
2015
