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PT Avia Avian Tbk
Disclaimer and Leading with Color,
Limitation of Inspiring with Sustainability
Liability
PT Avia Avian Tbk (hereinafter referred to as
“Avian Brands” or “AVIA” or “we”) 2025 Annual
Report is prepared to comply with reporting
requirements regarding Avian Brands’
Amidst increasingly competitive industry dynamics
performance for the period of January 1, 2025
and rising demands for sustainable practices, Avian
to December 31, 2025 to the regulators and
Brands continues to affirm its position as a market
stakeholders. This Annual Report, among
leader capable of delivering positive impacts
others, is prepared based on Financial Services
on the industry, the environment, and society.
Authority Regulation No. 29/POJK.04/2016
This leadership is reflected in Avian Brands’ ability to
concerning Annual Reports of Issuers or Public
present a range of colors that represent innovation,
Companies with contents in accordance with
responsibility, and a long-term vision across every
Financial Services Authority Circular Letter
business practice.
No. 16/SEOJK.04/2021 concerning Forms and
Contents of an Annual Report of Issuers or
The foundation of Avian Brands’ strength is built upon
Public Companies.
an extensive distribution network, a comprehensive
product portfolio, consistently maintained quality,
This Annual Report contains statements
and stable sales dominance from period to period.
related to objectives, policies, plans,
This reputation is further bolstered by various national
strategies, as well as operational and financial
awards, official certifications, and international
results prepared based on accountable factual
recognition that place Avian Brands among the top
data. In addition, this Annual Report also
percentile in various industry indicators. All these
presents information related to our forecasts
achievements reflect the synergy between excellent
for the following year that are prepared 2025 Annual Report Research and Innovation (“RDI”) capabilities, the
based on prospective statements and various
modernization of production facilities, supply chain
assumptions regarding the future conditions
resilience, and the professionalism of a certified
of our Company, as well as the related business
workforce.
environment, therefore, actual results may
materially differ from those stated in this
Avian Brands’ commitment to sustainability serves
report. Therefore, we urge the stakeholders to
as the cornerstone of executing its strategy and
use the information contained in this report
operations. This principle drives Avian Brands to
wisely when making decisions.
continuously create value for the environment,
society, and stakeholders through a business
approach rooted in integrity, innovation, and
consistency toward long-term goals. By emphasizing
creativity and continuous innovation, Avian Brands
inspires the industry ecosystem to transform towards
a more responsible and sustainable future.
2025 Annual Report 1
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PT Avia Avian Tbk
Theme Continuity
TOWARDS A SUSTAINABLE 4 BRIGHTER FUTURE
AND COLORFUL FUTURE 4 COLOURFUL INDONESIA
2024 Annual Report 2022 Annual Report
Avian Brands continuously integrates its achievements with its long-term aspiration to create innovative and sustainable The business continuity of Avian Brands for more than 44 years has been achieved through prudent business management
products. By providing high-quality, environmentally friendly-certified products, Avian Brands solidifies its position and continuous innovation. During our journey, Avian Brands continues to move forward in accordance with our Vision
as a paint industry leader committed to sustainability and environmental responsibility. This year, Avian Brands also “to become an integrated, environmentally friendly, leading, and trusted paint company in Indonesia”. Each of our policies
managed to record a strategic achievement of securing new international patents, further reinforcing its competitive edge and strategies is geared towards adding value to various groups of stakeholders. This commitment is evident in product
in the industry. This move reflects Avian Brands’ focus on sustainable innovation that provides added value not only for innovations that prioritize environmental sustainability and customer health.
customers but also for the environment and society at large. These patents are tangible evidence of Avian Brands’ dedication
to developing products relevant to market needs while simultaneously contributing to its long-term sustainability A total of 24 of Avian Brands’ paint products have earned Singapore Green Label certifications. Most of Avian Brands’
objectives. paints are made with water-based materials and environmentally friendly raw materials to support the green building
concept. In addition, Avian Brands manufactures paints with green active technology that can lower room temperature,
This commitment to sustainability is evident not only from product innovation but also from various strategic efforts to as well as paints that protect against viruses and bacteria, so they do not stick to walls. All these innovations aim to support
deliver sustainable positive impacts. With a holistic approach, Avian Brands is not only oriented towards achieving business a healthier and brighter future for Indonesia through the colorful array of our products.
targets, but also on making tangible contributions to the social and environmental ecosystem. Avian Brands believes
that true success means providing long-term benefits to all stakeholders, including the community, customers, business Avian Brands’ innovations have earned positive appreciation from external parties. From the operational aspect,
partners, and the environment. Through these strategic initiatives, Avian Brands continues to move forward to realize its Avian Brands has obtained the Green Industry Certificate (Sertifikat Industri Hijau) for operational activities that prioritize
vision of becoming an industry player that gives colors to people’s lives and maintains harmony with nature and the future. efficiency and effectiveness in the utilization of resources in a sustainable manner to encourage environmental sustainability.
By doing so, Avian Brands will always be part of the solution to create a more sustainable, innovative, and colorful world. Furthermore, Avian Brands has also obtained Green PROPER (PROPER Hijau) for optimizing its environmental impact
management beyond the necessary requirements. These achievements also make Avian Brands the first paint company in
Indonesia to achieve Green PROPER.
PAINTING A BEAUTIFUL
PICTURE OF INDONESIA
2023 Annual Report
For over 4 decades, Avian Brands has been bringing beautiful colors to the lives of millions of families in Indonesia by
providing a diverse range of high-quality and eco-friendly paint products. As a pioneer in the paint manufacturing industry,
Avian Brands recognizes the paramount importance of positively contributing to the environment and the community.
Thus, since its inception, Avian Brands has not only brought colors through its products, but also through continuous
commitment to responsible business practices.
As part of this ongoing commitment, Avian Brands continues to conduct research and development to introduce more
environmentally friendly paint solutions. By consistently exploring the potential for innovation in paint formulations
that are both more efficient and ecological, Avian Brands aspires to continue painting Indonesia with colors that are not
only beautiful but also sustainable. Moreover, Avian Brands steadfastly strengthens partnerships with local communities,
supports social initiatives, and invests in educational programs to shape a brighter and more colorful future for the next
generation.
2 2025 Annual Report 2025 Annual Report 3
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PT Avia Avian Tbk
Competitive 2025
Strengths Performance
In an increasingly competitive and dynamic business environment, it takes more than a single aspect of strength to maintain “The year 2025 delivered sustainable growth for Avian Brands, ranging from enhanced operational and financial performance
a competitive edge. This necessitates an integrated approach where elements mutually reinforce one another, creating to the launch of innovative products and the expansion of national distribution, as well as a steadfast commitment to creating
a sustainable cycle that drives performance and long-term growth. Thus, Avian Brands continues to demonstrate consistency added value for all stakeholders.”
and excellence through integrated, innovative, and long-term-oriented business strategies.
Strategic
Brand Strength
Positioning within
and Market Research and Distribution
the National Paint
Leadership
Industry Landscape Production Development Profitability Network
Performance Performance Performance Performance
Avian Brands’ production Continuous innovation By recording a profit for Avian Brands continues
in 2025 increased by served as the foundation the year of IDR1,744.02 to expand its distribution
15.16% to 227,266 metric of Avian Brands’ excellence billion, an increase of reach across various cities
tons. This achievement was in 2025, marked by the 4.83% from the previous in Indonesia through
Visionary and Driving Sustainable Extensive driven by the dominant launch of 12 new products year, Avian Brands 129 wholly-owned
contribution from the that expanded its portfolio demonstrated profitability distribution centers and
Performance- and Robust
Oriented
Excellence through Distribution
Sidoarjo Plant and stable
production levels at the
and addressed dynamic
market demands.
resilience amidst market
dynamics. This solid
15 wholly-owned mini
distribution centers, as
Management Strategic Synergy Network Serang Plant. financial performance well as 38 independent
underlies the continuity distribution centers.
of dividend distributions This expansion reinforces
to Shareholders, which in Avian Brands’ commitment
2025 totaled IDR1,320.02 to ensuring product
billion through both cash availability is closer and
and interim dividends. easier to reach for all
customers nationwide.
Research and Integrated
Technology-Based Production
Product Innovation Capabilities
Avian Brands prioritizes six primary pillars of competitive advantage that serve as the foundation for maintaining
sustainable growth and strengthening competitiveness within the national paint industry. From robust brand recognition to
a strategic position in the national industrial ecosystem, extensive and efficient distribution network, reliable integrated
production systems, excellent research and innovation capabilities, and a visionary management structure, these pillars drive
Avian Brands to stand not only as a paint manufacturer, but also as a leading solutions provider for construction, decoration,
and industrial needs in Indonesia.
4 2025 Annual Report 2025 Annual Report 5
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PT Avia Avian Tbk
Table of
Contents
ii Disclaimer and Limitation of 2 Theme Continuity 5 2025 Performance 117 Material Transactions 120 Business Prospects 125 Changes in Laws and
Liability Containing Conflicts of Interest Regulations with Significant
4 Competitive Strengths 6 Table of Contents or Transactions with Affiliated
120 2026 Projection
Impacts on Avian Brands
1 Theme
Parties 121 Target Achievement Strategy
125 Material Information after the
119 Comparison of Target and 122 Avian Brands' Strategic Plans Financial Statements Date
Realization in 2025
Performance Management 124 Changes in Accounting Policies 125 Business Continuity Information
Highlights Report
10 Key Financial Data Overview 14 Share Trading Information 30 The Board of Commissioners
12 Operational Overview 14 Information regarding Bonds,
Report Good Corporate
Sukuk, or Convertible Bonds 36 The Board of Directors Report Governance
12 Share Overview
14 Significant Events
13 Corporate Action 128 Commitment to Implementing 160 The Nomination and 189 Information Disclosure Policy
21 Awards and Certifications Good Corporate Governance Remuneration Committee
190 Whistleblowing System
129 Basis of Good Corporate 164 The Good Corporate
Governance Implementation Governance Committee 194 Anti-Corruption and Gratification
Company 130 Structure of Good Corporate 167 Committees Under the Board of
Policy
Profile Governance Directors 194 Policy to Prevent Insider Trading
130 Mechanism of Good Corporate 167 The Related Party Transaction 195 Policy on Fulfillment of Creditors’
44 Company Identity 61 Organizational Structure 78 Chronology of Other Securities Rights
Listing Governance Committee
46 Milestones 62 Membership in Associations 195 Conflict of Interest Guidelines
78 Corporate Structure 131 General Meeting of Shareholders 170 The Corporate Secretary
49 Brief History 63 Profile of the Board of 196 Communication Policy Guidelines
Commissioners 79 Subsidiaries, Associates, and 139 The Board of Commissioners 174 The Investor Relations
50 Company Vision, Mission, and Joint-Ventures 196 Policy Guideline in Resignation
Values 67 Profile of the Board of Directors 146 The Board of Directors 175 The Internal Audit Unit
Procedure of the Board of
81 Capital Market Supporting 151 The Board of Commissioners and 179 Public Accountant Commissioners and the Board
52 Meaning of Avian Logo 73 Shareholder Information Institutions and Professions the Board of Directors Diversity of Directors in the Event of
53 Business Activities 75 Main and Controlling Shareholders Policy
181 The Internal Control System
82 Information Access Involvement in Financial Crime
55 Products and Services 76 Chronology of Share Listing 152 Nomination and Remuneration of 183 Risk Management System
82 Human Resources 196 Policy on Review and Approval of
the Board of Commissioners and 187 Legal Disputes with Material Transactions with Affiliated Parties
59 Manufacturing Facilities 76 Sharia Securities 90 Information Technology the Board of Directors Impacts and the Administrative
60 Operational Areas 77 Company’s Stock Index Sanctions Imposed
197 Succession Policy in the Board of
154 Sharia Supervisory Board Commissioners and the Board of
154 Committees Under the Board of 187 Code of Conduct Directors Nomination Process
Commissioners 189 Employee Stock Allocation 197 Implementation of Governance
Management Discussion
Program Guidelines for Public Companies
and Analysis 154 The Audit Committee
98 Economic Overview 112 Consolidated Statement of Cash 115 Realization on Use of Proceeds
Flows from Public Offering
99 Industry Overview Social and
112 Solvency 116 Dividend Policy and Distribution Environmental Responsibility
99 Operational Overview
113 Collectability of Account 117 Material Information
105 Marketing and Distribution Aspect Receivables Concerning Investment, 202 Avian Brands' Sustainability 203 Sustainability Performance
108 Financial Overview Expansion, Divestment, Merger/ Commitment Overview
114 Capital Structure
Consolidation, Acquisition, and/
108 Consolidated Statement of
114 Capital Goods Investment or Debt/Capital Restructuring
Financial Position
115 Material Commitments related 207 Statement of Members of the Board of 209 Consolidated Financial Statements
110 Consolidated Statement
to Capital Goods Investment Commissioners and Members of the Board of of PT Avia Avian Tbk and
of Profit or Loss and Other
Directors on the Responsibility for the 2025 Subsidiaries
Comprehensive Income
Annual Report of PT Avia Avian Tbk
6 2025 Annual Report 2025 Annual Report 7
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PT Avia Avian Tbk Performance Highlights “The year 2025 affirms the resilience and perseverance of Avian Brands as a national paint industry leader that continues to deliver consistent, innovative, and valuable performance for all stakeholders.” 8 2025 Annual Report 2025 Annual Report 9
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Performance Highlights PT Avia Avian Tbk
Key Financial Data Overview
(in million Rupiah, unless otherwise stated) Total Assets Total Liabilities Total Equity
(in million Rupiah) (in million Rupiah) (in million Rupiah)
Description 2025 2024 2023
YoY (%) 3.47 (0.95) 0.21 YoY (%) 2.32 14.74 8.05 YoY (%) 3.62 (2.92) (0.95)
Consolidated Statement of Financial Position
Total Assets 11,084,379 11,060,975 11,166,987 9,921,489
Total Current Assets 7,821,844 8,493,362 8,910,802 1,544,155
11,166,987 1,429,095
Total Non-Current Assets 3,262,535 2,567,613 2,256,185 11,060,975 11,084,379 1,245,498 9,631,880
Total Liabilities 1,544,155 1,429,095 1,245,498 9,540,224
Total Current Liabilities 1,457,408 1,351,585 1,175,130
Total Non-Current Liabilities 86,747 77,510 70,368
Total Equity 9,540,224 9,631,880 9,921,489
Total Liabilities and Equity 11,084,379 11,060,975 11,166,987
2023 2024 2025 2023 2024 2025 2023 2024 2025
Consolidated Statement of Profit or Loss and Other Comprehensive Income
Net Revenues 8,123,685 7,471,356 7,016,882
Cost of Goods Sold (4,545,429) (4,130,606) (3,833,546)
Net Revenues Profit Before Interest, Tax, Profit for the Year
Gross Profit 3,578,256 3,340,750 3,183,336 (in million Rupiah) Depreciation, and Amortization (in million Rupiah)
Profit Before Income Tax Expense 2,175,816 2,068,594 1,992,143 (in million Rupiah)
Income Tax Expense (431,796) (404,895) (349,047) YoY (%) 4.82 6.48 8.73 YoY (%) 15.85 5.53 8.65 YoY (%) 17.33 1.25 4.83
Profit for the Year 1,744,020 1,663,699 1,643,096
Other Comprehensive Income (Loss) 129,690 (46,983) 81,403
Total Comprehensive Income for the Year 1,873,710 1,616,716 1,724,499 8,123,685
Profit for the Year Attributable to: 2,210,409
7,471,356 1,744,020
1,927,857 2,034,486 1,643,096 1,663,699
Equity Holders of the Parent Company 1,747,462 1,664,341 1,642,166
7,016,882
Non-Controlling Interests (3,442) (642) 930
Total Comprehensive Income for the Year Attributable to:
Equity Holders of the Parent Company 1,877,154 1,617,351 1,723,608
Non-Controlling Interests (3,444) (635) 891
2023 2024 2025 2023 2024 2025 2023 2024 2025
Basic and Diluted Earnings per Share Attributable to the Owners of the Parent (Full Rupiah) 29.11 27.16 26.51
Consolidated Statement of Cash Flows
Net Cash Provided by Operating Activities 1,738,165 1,766,128 1,640,834 Consolidated Profit for the Year to Consolidated Total Current Assets Consolidated Total Liabilities to
Net Cash Provided by (Used in) Investing Activities (372,862) 1,262,474 (1,138,195) Consolidated Net Revenues to Consolidated Total Current Consolidated Total Equity
Net Cash Used in Financing Activities (2,037,982) (1,933,622) (1,440,808) Liabilities
Consolidated Financial Ratio YoY (%) 11.95 (4.91) (3.59) YoY (%) (3.68) (17.15) (14.59) YoY (%) 0.00 15.38 9.09
Profitability Ratio (%)
Consolidated Profit for the Year to Consolidated Net Revenues 21.47 22.27 23.42 7.58x
Consolidated Profit for the Year to Consolidated Total Assets 15.73 15.04 14.71 6.28x 0.16x
0.15x
5.37x 0.13x
Consolidated Profit for the Year to Consolidated Total Equity 18.28 17.27 16.56
Liquidity Ratio (x) 23.42% 22.27% 2.47%
Consolidated Total Current Assets to Consolidated Total Current Liabilities 5.37 6.28 7.58
Solvency Ratio (x)
Consolidated Total Liabilities to Consolidated Total Assets 0.14 0.13 0.11
Consolidated Total Liabilities to Consolidated Total Equity 0.16 0.15 0.13 2023 2024 2025 2023 2024 2025 2023 2024 2025
10 2025 Annual Report 2025 Annual Report 11
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Performance Highlights PT Avia Avian Tbk
Operational Overview Transaction Volumes
(Shares)
Closing Price
(IDR)
400,000,000 700
(in million Rupiah, unless otherwise stated)
Description 2025 2024 2023 350,000,000 600
Architectural Solutions (Wall, Wood and Metal, Waterproofing, Wood Care, and Others) 6,291,901 5,847,703 5,618,025 300,000,000
500
Trading Goods (Pipes, Furniture, and Supporting Products) 1,831,784 1,623,653 1,398,857
Total Net Revenues 8,123,685 7,471,356 7,016,882 250,000,000
400
200,000,000
300
Net Sales Performance Percentage by Operating Segment 150,000,000
200
100,000,000
22.55% 21.73% 19.94% 100
50,000,000
- -
r r
Jan Feb Ma Ap May Jun Jul Aug Sep Okt Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Okt Nov Dec
2025 2024 2023
2024 2025
Transaction Volumes (Shares) Closing Price (IDR)
77.45% 78.27% 80.06%
Architectural Solutions Trading Goods
Share Overview Corporate Action
Shares Price Transaction Number of Market Avian Brands continued its share buyback program outstanding shares to 59,312,728,400 shares. This action
Period Lowest Highest Closing Volumes Outstanding Shares Capitalization throughout 2025 as part of its strategy to enhance did not affect the nominal value of the shares and was
(IDR) (IDR) (IDR) (Shares) (Shares) (IDR) Shareholder value. This corporate action refers to carried out in accordance with market conditions, prevailing
the approval of the Extraordinary General Meeting of regulations, and good corporate governance principles.
2025 Shareholders (EGMS) dated April 10, 2025, which approved
Quarter 1 336 432 406 1,355,705,900 60,528,555,600 25,153,143,573,600 the purchase of a maximum of 1,425,000,000 shares, or Apart from the share buyback, in 2025 Avian Brands did
Quarter 2 372 482 420 1,310,331,300 60,173,630,500 26,020,493,352,000 approximately 2.3% of the total paid-up shares. This program not conduct any other corporate actions, including stock
Quarter 3 398 476 408 1,182,602,900 59,615,578,800 25,277,050,684,800 is a continuation of a similar action based on the resolution of splits, reverse stock splits, stock dividend distribution, bonus
Quarter 4 402 505 505 1,595,554,100 59,312,728,400 31,286,545,578,000 the EGMS held on December 7, 2023. By the end of 2025, the shares distribution, changes in the nominal value of shares,
total number of shares successfully repurchased increased issuance of convertible securities, or capital injections and
2024
to 2,640,827,200 shares, consisting of 1,425,000,000 shares reductions.
Quarter 1 488 610 550 1,814,180,700 61,556,537,600 34,074,455,580,000 from the first buyback period and 1,215,827,200 shares
Quarter 2 488 570 515 1,353,097,300 61,256,923,300 31,906,081,134,000 from the second buyback period, thereby reducing the total
Quarter 3 444 535 498 1,469,498,600 61,195,158,500 30,852,870,688,800
Quarter 4 358 520 400 3,563,375,400 60,790,106,400 24,781,422,240,000
12 2025 Annual Report 2025 Annual Report 13
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Performance Highlights PT Avia Avian Tbk
Share Trading Information February 2025
17 Avitex TOP Product Launch
During 2025, Avian Brands did not experience any temporary suspension of share trading or delisting. Avian Brands launched Avitex TOP, a wall paint that offers
the ultimate solution for the painting needs of modern homes
and buildings. Featuring a crisp white color and a deep matte
finish that conceals wall imperfections, Avitex TOP offers
superior quality with maximum opacity, high coverage, and
best-in-class adhesion. Specifically designed for various interior
Information regarding Bonds, Sukuk, or surfaces including walls, ceilings, gypsum, GRC, concrete,
and plaster, Avitex TOP is the ideal choice for customers who
Convertible Bonds
prioritize both aesthetics and paint durability.
Until the end of 2025, Avian Brands has never issued bonds, sukuk, or convertible bonds.
March 2025
13 Avian Brands’ Strategic Investment in
Significant Events
PT Dextone Lemindo
On March 13, 2025, Avian Brands made a strategic investment
of IDR275.8 billion by acquiring 16.67% of new shares in
PT Dextone Lemindo, the manufacturer of “Dextone” adhesives,
a brand trusted for over three decades in Indonesia. Through
January 2025 this step, Avian Brands reinforces its organic and inorganic
growth strategies while strengthening its position as the
01 Boyo Wood Stain 2 in 1 Product Launch market leader in decorative paints. The synergy with Dextone is
expected to drive operational growth for both companies and
Avian Brands launched Boyo Wood Stain 2 in 1, an eco-friendly
create sustainable value for Shareholders and all stakeholders.
water-based wood stain with dual functions: protecting
and beautifying both interior and exterior wood. Utilizing
high-quality acrylic resin, this product is non-yellowing,
UV-resistant, and available in a variety of popular colors.
An elegant finish combined with maximum protection and an
economical price point makes Boyo Wood Stain 2 in 1 a practical
solution for maintaining the long-term beauty and durability of
wood. April 2025
30 Avian Brands Officially Joins the United Nations
Global Compact
Avian Brands has officially become a member of the United
Nations Global Compact (“UNGC”), a global initiative that
February 2025 promotes responsible business practices in accordance with
United Nations (“UN”) principles. This step affirms Avian Brands’
01 No Drop Spray Product Launch commitment to focusing not only on business performance
but also on creating sustainable value for society and the
Avian Brands launched No Drop Spray, a product that provides environment. As a member of the UNGC, Avian Brands is
an instant solution for addressing cracks and leaks in a practical, committed to submitting an annual Communication on
fast, and easy-to-use manner. Packaged in a modern spray Progress (“CoP”) report, which details achievements, challenges,
format, this product is designed for direct application without and continuous improvements in the implementation of
additional equipment, providing a waterproof seal while sustainability principles.
effectively sealing small cracks. Featuring No Drop’s trusted
leak-proof technology, this product delivers maximum
convenience to customers.
14 2025 Annual Report 2025 Annual Report 15
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Performance Highlights PT Avia Avian Tbk
May 2025 August 2025
30 Avian Brands Once Again Secures the “2024
Market Leader in the Indonesian Paint & Coating
01 Giant Mortar 225 Plamir Instan Ekonomis Product
Launch
Industry” Award from Frost & Sullivan
Avian Brands launched Giant Mortar 225 Plamir Instan Ekonomis,
Avian Brands has once again secured international recognition a ready-to-use wall putty designed to level and smooth wall
as the “2024 Market Leader in the Indonesian Paint & Coating and ceiling surfaces for both interior and exterior applications.
Industry” from Frost & Sullivan, marking its third following wins This product is an instant cement composed of a homogeneously
in 2020 and 2023. This award affirms Avian Brands’ position as a mixed blend of cement, fillers, additives, and special polymers,
consistent and innovative market leader, driven by sustainable resulting in stable application consistency and ease of use.
growth strategies through product innovation, distribution With its practical and economical formulation, Giant Mortar 225
network expansion, superior customer service, and a steadfast Plamir Instan Ekonomis provides an efficient solution for surface
commitment to ESG principles. preparation while supporting a tidier, higher-quality final paint
finish.
June 2025
August 2025
01 Avian Epoxy Filler Product Launch
Avian Brands launched Avian Epoxy Filler, a two-component
anti-corrosive epoxy primer specifically formulated for auto 22 Avian Brands Listed in the Prestigious FTSE Russell
Index and Launched Sustainability Strategy
refinish needs and total automotive body applications.
This product serves a dual purpose as both a primer and a filler, Avian Brands is officially listed in the Financial Times Stock
featuring optimal adhesion to both metal and plastic putty. With Exchange (“FTSE”) Russell global index, one of the world’s most
robust anti-corrosive properties and superior adhesion, Avian prestigious financial market indices that evaluates company
Epoxy Filler is an innovative solution that provides maximum performance based on ESG standards. This milestone serves
protection and the finest finish for the automotive industry. as international recognition of Avian Brands’ commitment to
building a responsible, transparent, and sustainable business.
This achievement is further reinforced by the launch of the
Avian Brands Sustainability Strategy, which is built upon four
sustainability pillars: the Product Pillar, Environment Pillar,
People & Community Pillar, and Governance Pillar.
01 No Drop Cat Dasar Anti Bocor Product Launch
Avian Brands launched No Drop Cat Dasar Anti Bocor, a primer
with negative waterproofing technology designed to prevent
wall dampness while enhancing the opacity of the topcoat.
This product offers superior waterproofing, alkali resistance, September 2025
and efflorescence resistance, making it ideal for both exterior
and interior use. Specifically formulated for new walls with
moisture levels below 30% after three days of drying, No Drop 01 No Drop Kolam Ikan 2 Komponen Product Launch
Cat Dasar Anti Bocor provides optimal protection starting from Avian Brands launched No Drop Kolam Ikan 2 Komponen,
the very first coat. a two-component, cement-based coating specifically
formulated for fish pond requirements. This product is safe for
use as it is non-toxic and provides maximum protection against
leaks and water seepage. Using a two-component system,
No Drop Kolam Ikan 2 Komponen creates a strong, durable
July 2025 waterproof layer that bonds perfectly to the pond surface.
This solution is designed to meet the needs of customers
seeking a pond coating that is effective and eco-friendly,
01 Avian Platinum Product Launch capable of maintaining the health of the fish and the ecosystem
Avian Brands launched Avian Platinum, a premium of the pond.
ultra-glossy paint formulated with 100% acrylic resin to provide
an impeccable glossy finish resistant to yellowing. Compatible
with various types of thinners, this product allows for high
flexibility in its application. Utilizing high-quality special
pigments, Avian Platinum offers optimal opacity and maximum
resistance to extreme weather conditions. These qualities make
it an ideal solution for various surfaces, including wood, metal,
walls, and GRC, both indoors and outdoors.
16 2025 Annual Report 2025 Annual Report 17
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Performance Highlights PT Avia Avian Tbk
September 2025 October 2025
04 Avian Carbon Reduction Initiative (“ACRI”),
Avian Brands’ Commitment Toward Net Zero
1 Avitex Wizz Cat Dasar Product Launch
Avian Brands launched Avitex Wizz Cat Dasar, an interior primer
Emissions 2050
formulated to be twice as thick, allowing for up to 40% dilution
Avian Brands established ACRI as a strategic step to systematically for more economical use without compromising quality.
manage and reduce GHG emissions in line with its commitment This product is ideal for both new and old walls as it enhances
to Net Zero Emissions by 2050. ACRI is built upon four main pillars: the adhesion and opacity of the topcoat, while helping to
Technology, Utility, Heat Transfer, and Combustion Reduction prevent chalking, alkali attacks, and efflorescence. This delivers
Initiatives. The program encompasses the transitioning to low- a more optimal finish in terms of coverage, color retention, and
emission technologies, utilizing renewable energy, improving durability, all in one practical step.
industrial utility efficiency, optimizing cooling systems, and
enhancing combustion efficiency in production processes.
Supported by global-standard governance, international
certifications, and independent verification, ACRI is more than
just a technical program, but a transformation toward a carbon- 13 No Drop Plamir Anti Bocor Product Launch
conscious culture across all of Avian Brands’ operational lines. Avian Brands launched No Drop Plamir Anti Bocor, an innovative
wall putty formulated with negative waterproofing technology
to prevent wall dampness or seepage from the opposite side
of the structure while sealing hairline cracks on wall surfaces.
This product is waterproof, anti-fungal, and anti-algae,
15 Avian Brands Once Again Receives Two Awards
from the Indonesian Institute for Corporate
as well as alkali-resistant and efflorescence-resistant, providing
comprehensive protection against wall damage.
Directorship (“IICD”)
Avian Brands has once again achieved distinguished results
in governance and sustainability by winning two prestigious
awards from the IICD: Top 50 Big Capitalization Public Listed
Company and Best Sustainability and Resilience (Big Cap). These
awards recognize Avian Brands’ consistency in implementing
Good Corporate Governance (GCG) principles and its
commitment to long-term sustainability amidst a competitive November 2025
industrial landscape. By implementing comprehensive
sustainability strategies, Avian Brands maintains a balance
among economic performance, social responsibility, and
1 Avian Brands Earns Another International
Recognition by Its Inclusion in the Fortune
environmental preservation, while simultaneously Southeast Asia 500
strengthening the company’s resilience against global
Avian Brands has once again earned international recognition
challenges.
by successfully entering the 2025 Fortune Southeast Asia 500
list, a prestigious ranking featuring the 500 largest companies in
Southeast Asia based on financial performance in the 2024 fiscal
18 Avian Brands Earns Two Prestigious ESG Awards year. This achievement reaffirms Avian Brands’ position as the
national leader in the decorative paint market, demonstrating
Avian Brands has reaffirmed its commitment to sustainability
its ability to maintain solid performance amid global economic
by winning two prestigious national awards in 2025.
dynamics. Furthermore, this recognition strengthens
At the Katadata ESG Awards 2025, Avian Brands was named
Avian Brands’ commitment to continued sustainable growth
the Governance Winner for the Chemicals sector, in recognition
and to maintaining its leadership in the Indonesian decorative
of its consistency in implementing transparent and accountable
paint industry.
governance aligned with global standards. Additionally,
at the Environmental and Social Innovation Awards 2025
organized by Sucofindo, Avian Brands received recognition
in the Environmental Innovation Category for its emission
reduction program, which was deemed both innovative and
1 Sunguard Basic Product Launch
Avian Brands launched Sunguard Basic, a premium exterior
measurable. These two awards further strengthen Avian Brands’
paint that offers maximum protection for up to 6 years at an
position as a national paint company that excels in product
affordable price point in its class. Designed with UV Shield
innovation and serves as a pioneer in implementing ESG
features, Sunguard Basic is capable of maintaining color
principles.
durability, ensuring it does not fade easily even when exposed
to extreme weather. Additionally, Super-Cover Technology
makes the painting process easier and faster by allowing the
paint to spread more evenly, providing a neat, smooth, and
long-lasting finish.
18 2025 Annual Report 2025 Annual Report 19
Page 12
Performance Highlights PT Avia Avian Tbk
November 2025 Awards and Certifications
1 No Drop Butyl Tape Anti Bocor Product Launch
Avian Brands launched No Drop Butyl Tape Anti Bocor, a butyl-
based waterproofing tape designed to provide maximum
Awards
protection against seepage and leaks. This product features
excellent adhesion, is waterproof, and possesses high elasticity, 2024 Market Leader in Best Sustainability and
1 5
allowing it to adapt to various surfaces and temperature the Indonesian Paint & Resilience (Big Cap)
fluctuations. Unlike bitumen-based waterproofing tapes, Coating Industry Organizer:
No Drop Butyl Tape Anti Bocor can be applied to wet surfaces. Organizer: Indonesian Institute for
Frost & Sullivan Corporate Directorship (“IICD”)
Recipient: Recipient:
PT Avia Avian Tbk PT Avia Avian Tbk
Period: Period:
2024 2025
December 2025
4 Avian Brands Maintains Paint Market Leadership
with Frost & Sullivan’s “2025 Indonesian
Katadata ESG Awards 2025
6 Fortune Southeast Asia 500
Chemicals Sector for Organizer:
Architectural Paints and Coatings Market the Governance Category
Leadership” Award 2 Fortune
Organizer: Recipient:
Katadata PT Avia Avian Tbk
Avian Brands has once again secured international recognition Recipient: Period:
by winning the “2025 Indonesian Architectural Paints and PT Avia Avian Tbk 2025
Coatings Market Leadership” award from Frost & Sullivan. Period:
This achievement marks the fourth time Avian Brands has 2025
received this accolade from the institution. Frost & Sullivan
recognizes Avian Brands’ excellence in continuous innovation,
the development of a cross-segment product portfolio ranging
from economical to premium categories, and the ability to
respond to the evolving dynamics of the architectural coatings Environmental and Social 2025 Indonesian Architectural
7
market while maintaining a primary focus on quality, material Innovation Awards (“ENSIA”) Paints and Coatings Market
2025 Leadership
safety, and sustainability principles. 3
The Environmental Innovation Organizer:
Category Thanks to Its Emission Frost & Sullivan
Reduction Program
Recipient:
December 2025 Organizer: PT Avia Avian Tbk
Sucofindo
Period:
4 Avian Brands Recognized as a Strong Performer
– Asia Top 30 in the Paints & Coatings Category
Recipient:
PT Avia Avian Tbk
2025
by the Asian Coatings & Ink Federation (“ACIF”) Period:
and the Singapore Paints & Coatings Association 2025
(“SPACA”)
Top 50 Big Capitalization Public Strong Performer – Asia Top 30
Avian Brands earned recognition as a Strong Performer – Asia 4 8
Listed Company Paints & Coatings Category
Top 30 in the Paints & Coatings category from ACIF and SPACA Organizer: Organizer:
at an awards ceremony in Singapore. This award reflects the Indonesian Institute for Corporate Asian Coatings & Ink Federation
strengthening of Avian Brands’ position in the Indonesian Directorship (“IICD”) (“ACIF”) and Singapore Paints &
paint market in recent years through customer-oriented Recipient: Coatings Association (“SPACA”)
innovation, operational excellence, and the development PT Avia Avian Tbk Recipient:
of more sustainable coating technologies. Continuous PT Avia Avian Tbk
Period:
investment in water-based solutions and climate-adaptive, 2025 Period:
eco-friendly formulations underscores Avian Brands’ ability 2025
to deliver high-performance products while supporting
the transition toward a sustainable coatings industry.
20 2025 Annual Report 2025 Annual Report 21
Page 13
Performance Highlights PT Avia Avian Tbk
Certification
International Standardization Organization Indonesian National Standard
Avian Brands continues to demonstrate its commitment to operational excellence by implementing management Avian Brands consistently implements the Indonesian National Standard (Standar Nasional Indonesia/“SNI”) across every
systems that comply with international standards. The International Organization for Standardization (“ISO”) certifications stage of the production process as a manifestation of its commitment to product quality and safety. SNI certification
obtained across various fields serve as tangible evidence of Avian Brands’ efforts to uphold principles of quality, serves as a vital indicator that Avian Brands’ products meet the requirements for grade, quality, safety, and performance
environment, energy, information security, and occupational safety. Through these certifications, Avian Brands not only in accordance with applicable national regulations. Successfully obtaining SNI certification not only reflects Avian Brands’
ensures compliance with global standards but also strengthens the implementation of best practices that support a safe, dedication to maintaining quality standards but also strengthens the competitiveness of its products in both domestic
productive, and sustainable work environment. As of the end of 2025, Avian Brands has successfully attained five ISO and regional markets. As of the end of 2025, Avian Brands has secured two SNI certifications covering three flagship
certifications in various strategic areas as outlined below: products in the exterior and interior segments, as detailed below:
Name of Certification Organizer Validity Period Name of Certification Product Type Organizer Validity Period
1 ISO/IEC 27001:2022 on Information Security Management 1 SNI 3564:2014 Sunguard Eksterior Chempack Product
Intertek Certification Limited Until February 16, 2026
System Certification Agency, Center for
Standardization and Services
2 ISO 9001:2015 on Quality Management System Until February 27 2027
In the Chemical,
Supersilk and Until November 3, 2026
ISO 45001:2018 on Occupational Health and Safety 2 SNI 3564:2014 Interior Pharmaceutical, and Packaging
3 Until October 26, 2027 Avitex
Management System LRQA Limited Industry, the Ministry of
Industry of the Republic of
4 ISO 14001:2015 on Environmental Management System Until February 18, 2028
Indonesia
5 ISO 50001:2018 on Energy Management System Until March 2, 2028
Current issue date: 28 February 2024 Original approval(s): Current issue date: 27 October 2024 Original approval(s):
Expiry date: 27 February 2027 ISO 9001 - 28 February 2007 Expiry date: 26 October 2027 ISO 45001 - 5 November 2020
Certificate identity number: 10582361 Certificate identity number: 10639949
Certificate of Approval Certificate of Approval
This is to certify that the Management System of: This is to certify that the Management System of:
PT Avia Avian Tbk PT Avia Avian Tbk
Jl Raya Surabaya-Sidoarjo Km 19, Desa Wadungasih, Buduran Sidoarjo, East Java, Indonesia Jl Raya Surabaya-Sidoarjo Km 19, Desa Wadungasih, Buduran Sidoarjo, East Java, Indonesia
has been approved by LRQA to the following standards: has been approved by LRQA to the following standards:
ISO 9001:2015 ISO 45001:2018
Approval number(s): ISO 9001 – 0044727 Approval number(s): ISO 45001 – 0044850
This certificate is valid only in association with the certificate schedule bearing the same number on which the locations applicable This certificate is valid only in association with the certificate schedule bearing the same number on which the locations applicable
to this approval are listed. to this approval are listed.
The scope of this approval is applicable to: The scope of this approval is applicable to:
Manufacture of paint, resin, can making and mortar product. Manufacture of paint and resin including can making and mortar product.
Luis Cunha Luis Cunha
________________________ ________________________
Area Operations Manager - North Asia & SAMEA Area Operations Manager - North Asia & SAMEA
Issued by: LRQA Limited Issued by: LRQA Limited
LRQA Group Limited, its affiliates and subsidiaries and their respective officers, employees or agents are, individually and collectively, referred to in this clause as 'LRQA'. LRQA Group Limited, its affiliates and subsidiaries and their respective officers, employees or agents are, individually and collectively, referred to in this clause as 'LRQA'.
LRQA assumes no responsibility and shall not be liable to any person for any loss, damage or expense caused by reliance on the information or advice in this document or LRQA assumes no responsibility and shall not be liable to any person for any loss, damage or expense caused by reliance on the information or advice in this document or
howsoever provided, unless that person has signed a contract with the relevant LRQA entity for the provision of this information or advice and in that case any responsibility or howsoever provided, unless that person has signed a contract with the relevant LRQA entity for the provision of this information or advice and in that case any responsibility or
liability is exclusively on the terms and conditions set out in that contract. liability is exclusively on the terms and conditions set out in that contract.
Issued by: LRQA Limited, 1 Trinity Park, Bickenhill Lane, Birmingham B37 7ES, United Kingdom Issued by: LRQA Limited, 1 Trinity Park, Bickenhill Lane, Birmingham B37 7ES, United Kingdom
Page 1 of 2 Page 1 of 2
1 2 3
Current issue date: 19 February 2025 Original approval(s): Current Issue Date: 18 March 2025 Original approval(s):
Expiry date: 18 February 2028 ISO 14001 - 19 February 2013 Expiry Date: 2 March 2028 ISO 50001 - 3 March 2022
Certificate identity number: 10672436 Certificate Identity Number: 10679365
Certificate of Approval Certificate of Approval
This is to certify that the Management System of: This is to certify that the Management System of:
PT Avia Avian Tbk PT Avia Avian Tbk
Jl Raya Surabaya-Sidoarjo Km 19, Desa Wadungasih, Buduran Sidoarjo, East Java, Indonesia Jl Raya Surabaya-Sidoarjo Km.19, Desa Wadungasih Buduran Sidoarjo, East Java, 61252, Indonesia
has been approved by LRQA to the following standards:
ISO 14001:2015
Approval number(s): ISO 14001 – 00053962
has been approved by LRQA to the following standards:
ISO 50001:2018
Approval Number(s): ISO 50001 – 00035106
1 2
This certificate is valid only in association with the certificate schedule bearing the same number on which the locations applicable
to this approval are listed.
The scope of this approval is applicable to:
Manufacture of paint and resin including can making and mortar product. The scope of this approval is applicable to:
Manufacture of paint and resin including can making and mortar product.
Luis Cunha Luis Cunha
________________________ ________________________
Area Operations Manager - North Asia & SAMEA Area Operations Manager - North Asia & SAMEA
Issued by: LRQA Limited Issued by: LRQA Limited
LRQA Group Limited, its affiliates and subsidiaries and their respective officers, employees or agents are, individually and collectively, referred to in this clause as 'LRQA'. LRQA Group Limited, its affiliates and subsidiaries and their respective officers, employees or agents are, individually and collectively, referred to in this clause as 'LRQA'.
LRQA assumes no responsibility and shall not be liable to any person for any loss, damage or expense caused by reliance on the information or advice in this document or LRQA assumes no responsibility and shall not be liable to any person for any loss, damage or expense caused by reliance on the information or advice in this document or
howsoever provided, unless that person has signed a contract with the relevant LRQA entity for the provision of this information or advice and in that case any responsibility or howsoever provided, unless that person has signed a contract with the relevant LRQA entity for the provision of this information or advice and in that case any responsibility or
liability is exclusively on the terms and conditions set out in that contract. liability is exclusively on the terms and conditions set out in that contract.
Issued by: LRQA Limited, 1 Trinity Park, Bickenhill Lane, Birmingham B37 7ES, United Kingdom Issued by: LRQA Limited, 1 Trinity Park, Bickenhill Lane, Birmingham B37 7ES, United Kingdom
Page 1 of 1 Page 1 of 2
4 5
22 2025 Annual Report 2025 Annual Report 23
Page 14
Performance Highlights PT Avia Avian Tbk
Certification
Green Label Singapura Other Certifications
Avian Brands continues to demonstrate its commitment to Avian Brands has also secured the Green Industry Certificate from the Green Industry Certification Agency, of the Center
sustainability and environmental responsibility through for Standardization and Services in the Chemical, Pharmaceutical, and Packaging Industry, the Ministry of Industry of the
the development of eco-friendly products that meet Republic of Indonesia. This certification is awarded as recognition of Avian Brands’ success in implementing principles of
international certification standards. The Singapore Green energy efficiency, resource optimization, and environmental impact reduction across its production processes. Valid until
Label (“GLS”) certification is awarded by the Singapore September 7, 2026, this certificate reaffirms Avian Brands’ consistency in driving eco-friendly innovation and sustainable
Environment Council to Avian Brands’ products that have industrial performance improvement. This initiative aligns with national goals to build a greener and more responsible
undergone a comprehensive evaluation process, covering industry for the future.
aspects from consumer safety to environmental impact
throughout the product’s life cycle (life cycle analysis). PT. Avia Avian TBK
Jl. Raya Surabaya – Sidoarjo Km 19, Desa Wadungasih, Buduran, Sidoarjo-East Java.
Achieving GLS certification serves as concrete evidence
Indonesia 61252
that Avian Brands consistently delivers products that are SUPERSILK SEMI KILAP
032-219-3926
Environmentally Preferred Paints & Surface Coatings
not only safe to use but also contribute to reducing the (In accordance to SEC Green Label Category 32: Paints and Surface Coatings)
environmental footprint. This internationally recognized Validity: 25 November 2023 to 24 November 2025
certification provides added value in the form of
enhanced credibility, production efficiency, cost savings, Cheang Kok Chung
Executive Director
and green market expansion opportunities. One of the
flagship products to have obtained GLS certification is the
Supersilk Semi Kilap series. As of the end of 2025, a total
of 40 Avian Brands products have successfully earned GLS
certification.
Domestic Component Level (Tingkat Komponen
Dalam Negeri)
Avian Brands continues to prioritize the use of local
raw materials and components in its production
processes as part of its sustainability strategy and
contribution to national economic independence. This SERTIFIKAT TINGKAT KOMPONEN DALAM NEGERI
Sesuai dengan Peraturan Menteri Perindustrian No. 16/M-IND/PER/2/2011
commitment is realized through the fulfillment of the tentang Ketentuan dan Tata Cara Penghitungan Tingkat Komponen Dalam
Negeri, hasil verifikasi atas capaian Tingkat Komponen Dalam Negeri (TKDN)
adalah sebagai berikut:
Domestic Component Level (Tingkat Komponen Dalam Jenis Produk
Tipe
Spesifikasi
:
:
:
Cat
Cat Tembok Semi Kilap
Water Based, Interior
Negeri/“TKDN”), a certification from the Ministry of
Kode HS : 32091090
Merk : -
Nilai TKDN : 58,99%
Terbilang : Lima puluh delapan koma sembilan sembilan
Industry of the Republic of Indonesia that signifies Avian Standard Produk :
Sertifikat Produk :
persen
-
-
Brands’ active role in strengthening the domestic supply
No. Laporan : TKDN - 1611 - 2501675
yang telah ditandasahkan oleh Kementerian Perindustrian dan berlaku 3
tahun terhitung sejak tanggal tanda sah,
chain and supporting national industrial growth. One of Nama Perusahaan :
diberikan kepada:
PT AVIA AVIAN Tbk
the flagship products to have obtained TKDN certification
Alamat : Jl. Raya Surabaya - Sidoarjo KM. 19 desa
Wadungasih RT.11, RW.3, Wadungasih, Buduran,
Kabupaten Sidoarjo, Jawa Timur, 61252
NPWP : 01.203.265.2-641.000
is Supersilk Semi Kilap, which combines premium quality Jenis Industri
No. Tanda Sah
:
:
Industri Cat dan Tinta Cetak (KBLI: 20221)
4314/SJ-IND.8/E-TKDN/3/2025
with a predominant local content composition. As of the Jakarta, 25 Maret 2025
Kepala Pusat Peningkatan Penggunaan Produk Dalam Negeri
end of 2025, a total of 55 Avian Brands products have Heru Kustanto
successfully earned TKDN certification.
24 2025 Annual Report 2025 Annual Report 25
Page 15
Performance Highlights PT Avia Avian Tbk 26 2025 Annual Report 2025 Annual Report 27
Page 16
PT Avia Avian Tbk Management Report “Resilient performance, market leadership, and continuous innovation form the foundation of Avian Brands in creating long-term value amid the ever-evolving dynamics of the industry.” 28 2025 Annual Report 2025 Annual Report 29
Page 17
Management Report PT Avia Avian Tbk
The Board of
Commissioners Report Dear Valued Shareholders and Stakeholders,
We offer our praise and gratitude to God Almighty for and adaptive manner. In this context, we view the global
His grace, which has enabled Avian Brands to conduct macroeconomic stability, which has not yet fully recovered,
Hermanto Tanoko its business activities throughout 2025 in a focused as a significant factor that needs to be anticipated constantly,
President Commissioner of PT Avia Avian Tbk and controlled manner amidst a continually evolving in the formulation and evaluation of Avian Brands’ future
business environment. We believe that 2025 was a period strategies.
that demanded sharp decision-making and prudence in
business management, amid increasing global uncertainty, At the national level, we assess that the Indonesian
intensified industrial competition, and stakeholder demands economy demonstrated relatively strong resilience
for sustainable performance. amidst global pressures. Maintained economic growth,
supported by domestic demand, government spending,
In exercising our oversight function, we actively evaluated and accommodative fiscal and monetary policies, provided
the adequacy of strategies, the effectiveness of their space for the business landscape to remain productively
implementation, and the Board of Directors’ consistency active. Inflation within a controlled range and interest rate
in maintaining a balance between business growth cuts by Bank Indonesia further strengthened the business
and Good Corporate Governance (“GCG”) principles. climate throughout 2025. Nevertheless, we emphasize the
Based on our monitoring and assessment conducted importance of remaining vigilant toward potential future
throughout 2025, the Board of Directors has demonstrated volatility, particularly concerning changes in global policy
adequate adaptability and managerial discipline, allowing and financial market dynamics, to ensure the continued
Avian Brands to maintain stable operational and financial performance of Avian Brands.
performance and safeguard its competitive position within
the national paint industry. Within this framework, we observe that although
the national macroeconomy has demonstrated relatively
We also view the theme “Leading with Color, Inspiring with strong resilience, its impact on sectoral performance
Sustainability” as a reflection of Avian Brands’ leadership has not been fully uniform. In the paint and coatings
direction in facing the future industrial landscape. industry, production activities have generally returned
This theme not only reflects excellence in generating to an expansionary phase; however, the recovery of
growth but also underscores the importance of integrating market demand remains gradual amidst ongoing external
sustainability aspects into every strategic decision. pressures and increasing customer caution. Furthermore,
We believe that this approach serves as a vital foundation global geopolitical dynamics and fluctuations in raw
for creating long-term value, strengthening stakeholder material prices continue to exert pressure on industrial
trust, and ensuring the business continuity of Avian Brands. cost structures, thereby necessitating more disciplined and
Furthermore, we present our further views and evaluation adaptive business management.
of the performance, governance, and business prospects of
Avian Brands, as follows:
Economic and Industrial Conditions in 2025
We observed that throughout 2025, the global economy
remained in an adjustment phase characterized by increasing
economic fragmentation, trade policy uncertainty,
and a slowdown in medium-term growth. Projections of
slowing global economic growth, accompanied by uneven
inflation dynamics across countries, required business
players to manage external risks in a more meticulous
30 2025 Annual Report 2025 Annual Report 31
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Management Report PT Avia Avian Tbk
Supervision on Formulation and Beyond formal mechanisms, we also conveyed advice and sustain profitability levels amidst market dynamics. In facing these conditions, we view Avian Brands’ focus on
Implementation of Avian Brands’ and views to the Board of Directors through incidental We view the contribution of business segments as having strengthening operational segments, operational efficiency,
Strategies and thematic communications, particularly in response to been managed proportionately, with a focus on segments product innovation, and disciplined risk management as
strategic issues, industrial developments, and potential risks with higher growth potential and added value. We also note key factors in ensuring performance sustainability and
We believe that the strategies formulated and implemented requiring immediate attention. This approach allowed us to that Avian Brands’ financial management remains prudent, reinforcing Avian Brands’ position amidst future industrial
by the Board of Directors throughout 2025 adequately provide timely and relevant input without compromising prioritizing the principles of caution and business viability. dynamics.
considered industrial dynamics, market conditions, and GCG principles. Every advice provided was aimed at
the operational challenges faced by Avian Brands. strengthening the quality of decision-making, increasing the In addition to operational and financial achievements,
Through our continuous oversight function, we reviewed effectiveness of strategy implementation, and maintaining we welcome the steps taken by the Board of Directors Views on the Implementation of
the adequacy of strategic directions, consistency in their a balance between performance achievement and risk in realizing strategic initiatives that support the medium Good Corporate Governance
implementation, and the alignment between work plans and management. and long-term growth of Avian Brands, including strategic
performance realization. This approach was taken to ensure investments aimed at strengthening portfolio synergy We believe that the implementation of GCG at Avian
that the strategies implemented are capable of maintaining Through this structured and adaptive frequency and and expanding business capabilities. External recognition Brands throughout 2025 was carried out consistently and
Avian Brands’ competitiveness while supporting business mechanism of providing advice, we assess that the working and awards received by Avian Brands throughout 2025 integrated into business management. GCG implementation
sustainability in the medium and long term. relationship with the Board of Directors has been effective are also viewed as indicators of consistent performance, focuses not only on regulatory compliance but is also
and professional. The established synergy allows for high-quality governance, and a commitment to innovation directed toward supporting accountable, transparent,
Throughout 2025, we noted the implementation of a healthy process of checks and balances while ensuring and sustainability. Overall, we assess that the performance and responsible decision-making. We assess that the
various strategic initiatives focused on strengthening that the management of Avian Brands consistently remains of the Board of Directors throughout 2025 was aligned with implemented governance structure has provided clarity
distribution networks, developing product portfolios within the corridors of GCG principles and is oriented toward the interests of Avian Brands and its stakeholders, while of roles and authority between the General Meeting of
and quality, increasing operational efficiency, and long-term interests. acknowledging areas for refinement that will be prioritized Shareholders (“GMS”), the Board of Commissioners, the
expanding market segments. We assess that these steps in future oversight. Board of Directors, and supporting committees and units,
were executed in a structured and measured manner, ensuring that the mechanisms of checks and balances
supported by relatively effective resource management. Assessment of the Performance of operate effectively.
Furthermore, improvements in research and development Avian Brands’ Board of Directors Views on Avian Brands’ Business Prospects
capabilities, the adoption of information technology, and In exercising our oversight function, we note that Avian
the enhancement of customer service quality are viewed We have assessed the performance of the Board of We view Avian Brands’ future business prospects as Brands’ internal control and risk management systems
as vital factors in maintaining market dominance and the Directors of Avian Brands throughout 2025 based on remaining in a positive direction, despite ongoing global have been designed and implemented to support the
stability of Avian Brands’ performance amidst tightening operational achievements, financial performance, and challenges. The increasingly fragmented international achievement of operational objectives, the reliability
industrial competition. the execution of strategic initiatives established in the economic landscape, with projected slowing global growth of financial reporting, and compliance with laws and
work plan. This assessment was conducted by considering and medium-term structural pressures, demands adaptive regulations. The roles of the Audit Committee and the
In exercising our oversight function, we also paid close the challenging business environment, competitive and prudent business management. In this context, we Internal Audit Unit in conducting independent and
attention to execution discipline, risk control, and industrial dynamics, and stakeholder expectations assess that the stabilization of global inflation and the continuous evaluations are deemed to have provided
the application of GCG principles in every strategic initiative. regarding the long-term sustainable performance of Avian continued adjustment of monetary policies in various reasonable assurance regarding the effectiveness of internal
We assess that the Board of Directors has demonstrated Brands. Based on these evaluation results, we assess that the countries may provide space for a gradual improvement controls. We also assess that risk management has been
a commitment to managing business growth prudently, Board of Directors has performed its management function in the business climate, although external risks must be integrated into the strategy planning and implementation
by consistently paying attention to efficiency, quality, and of Avian Brands effectively and responsibly, thereby continuously monitored. process, enabling Avian Brands to manage risks proactively
performance continuity. Moving forward, we will continue maintaining performance stability while safeguarding Avian and in a measured manner.
to encourage the refinement of Avian Brands’ strategies and Brands’ competitive position in the national paint industry.
their implementation, so that Avian Brands remains adaptive At the national level, we assess that the resilience of the Furthermore, we view that the Whistleblowing System
to changes in the business environment and capable of From an operational perspective, we note that Indonesian economy serves as a vital supporting factor (“WBS”), as a means of reporting violations, has contributed
maintaining sustainable performance. the Board of Directors managed production capacity and for Avian Brands’ business prospects. The government’s to the creation of a culture of integrity and compliance within
manufacturing activities in a measured manner, optimizing optimism regarding 2026 economic growth, supported by Avian Brands. The reporting mechanism, which guarantees
the role of existing production facilities and supporting domestic demand, fiscal and monetary policy support, and confidentiality and protection for whistleblowers, is
Frequency and Method of Providing sustainable product innovation. Efforts to strengthen the strengthening of international trade agenda, provides a considered an essential element in strengthening
Advice to Avian Brands’ Board of Directors the product portfolio through new product launches, relatively conducive foundation for the business world. These governance and stakeholder trust. Overall, we assess that
reinforcing portfolios with SNI, TKDN, and GLS certifications, conditions are seen as capable of maintaining momentum the implementation of GCG at Avian Brands throughout
In conjunction with the foregoing, we performed our advisory and maintaining consistent product quality and standards in the property and construction sectors, which are closely 2025 has been successful and serves as a strong foundation
function to the Board of Directors continuously throughout are viewed as relevant steps in responding to market needs linked to the demand for paint and coating products. for supporting business sustainability and Avian Brands’
2025. Advice was provided through various media, and strengthening Avian Brands’ competitiveness. We assess resilience in facing future business environment dynamics.
including joint meetings of the Board of Commissioners and that this approach reflects a balance between volume In line with these developments, we believe the national
the Board of Directors, as well as meetings with supporting growth, product quality, and operational efficiency. paint and coatings industry still possesses long-term growth
committees, with frequency adjusted to the needs and potential, as reflected in per capita consumption levels
dynamics of business management. Through these forums, Regarding financial performance, we assess that the Board that are relatively lower than regional peers. Although the
we provided strategic input, independent views, and of Directors demonstrated adequate financial management industry growth rate in the short term may be influenced
constructive direction regarding Avian Brands’ management discipline, reflected in Avian Brands’ ability to maintain by the potential weakening of purchasing power, we assess
policies and steps. growth in sales performance, manage cost structures, that the structural potential of the industry remains intact.
32 2025 Annual Report 2025 Annual Report 33
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Management Report PT Avia Avian Tbk
Views on the Implementation of Sustainability Principles
We believe that the implementation of sustainability principles at Avian Brands throughout 2025 was consistently integrated
into strategy and operations through a 4-pillars sustainability approach: Product, Environment, People & Community, and
Governance. Through our oversight, we assess that this sustainability framework has provided clear direction for the Board
of Directors in balancing business performance with responsible management of economic, social, environmental, and
governance impacts.
From the evaluations conducted, we note that the sustainability initiatives implemented have covered the strengthening
of product quality and safety, more efficient and measured environmental management, enhancing the welfare and
development of human resources, and reinforcing integrity through sustainable governance and supply chain practices.
Overall, we assess that the application of sustainability principles has become an essential foundation in supporting
Avian Brands’ resilience and long-term value, while continuing to encourage continuous refinement in line with the evolution
of the business environment and stakeholder expectations.
Changes in the Composition of the Board of Commissioners
In 2025, there was a change in the composition of Avian Brands’ Board of Commissioners following the appointment of
Mr. Oscar Christian Maria Jozef Wezenbeek as a new Independent Commissioner, based on the resolution of Avian Brands’
Extraordinary General Meeting of Shareholders dated April 10, 2025. Thus, the composition of Avian Brands’ Board of
Commissioners is as follows:
Name Position
Hermanto Tanoko President Commissioner
Mohammad Noor Rachman Soejoeti Independent Commissioner
Oscar Christian Maria Jozef Wezenbeek Independent Commissioner
Closing
In closing, we express our appreciation and gratitude to the Board of Directors of Avian Brands for their leadership, dedication,
and management efforts demonstrated throughout 2025. Appreciation is also extended to all Avian Brands employees for their
contribution, professionalism, and hard work, which serve as the primary foundation for sustainability and growth. We also
convey our thanks to the Shareholders for their continued trust and support, as well as to all stakeholders, including customers,
business partners, suppliers, and regulators, for their constructive cooperation and relationships. With the maintained synergy
of all parties, we are optimistic that Avian Brands can continue to strengthen its business resilience and create sustainable
long-term value.
On behalf of the Board of Commissioners
PT Avia Avian Tbk,
Hermanto Tanoko
President Commissioner
34 2025 Annual Report 2025 Annual Report 35
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Management Report PT Avia Avian Tbk
The Board of
Directors Report Dear Valued Shareholders and Stakeholders,
We offer our praise and gratitude to God Almighty for At the national level, the Indonesian economy
His grace and guidance, which enabled Avian Brands demonstrated relatively strong resilience amidst these
Wijono Tanoko to navigate 2025 with resilient performance amidst global dynamics. Economic growth in 2025 was recorded at
President Director of PT Avia Avian Tbk a challenging business environment. Throughout 2025, 5.11%, an increase from the previous year’s 5.03%, driven by
Avian Brands closely monitored the dynamic global and robust domestic demand, solid export performance, resilient
domestic macroeconomic conditions, characterized by investment, and support from government spending
market uncertainty, commodity price fluctuations, and through the State Budget (APBN). Household consumption,
shifting customer preferences that increasingly demand the largest pillar of the national economy, grew by 4.98%,
innovation and implementation of sustainability principles. aligned with increased public mobility, the strengthening
of digital transactions, and heightened activity in
Despite these challenges, Avian Brands maintained solid the transportation, communication, hospitality, and
operational and financial performance while further restaurant sectors. Government consumption also grew by
strengthening its position as the market leader in 2.50%, reflecting the active role of fiscal policy in maintaining
the national paint industry. This year, Avian Brands adopted purchasing power and economic growth momentum.
the theme “Leading with Color, Inspiring with Sustainability,” In terms of stability, inflation as of December 2025 was
reaffirming its strategic direction to focus not only on recorded at 2.92%, remaining within a manageable range.
business growth but also on leadership in delivering positive Monetary policy implemented by Bank Indonesia trended
impacts for the industry, the environment, and society at towards being accommodative, marked by a 125 basis
large. We believe that leadership rooted in sustainability point reduction in the BI-Rate throughout 2025 to 4.75%
is the primary foundation for creating long-term value for by year-end, further supporting the liquidity climate and
all stakeholders. Further details regarding Avian Brands’ stimulating national economic activity.
challenges, opportunities, strategies, and performance
achievements throughout 2025 are outlined below. While national macroeconomic indicators showed relatively
strong resilience, these dynamics were not uniformly
transmitted across all industrial sectors. At the sectoral level,
Economic and Industrial Conditions in particularly in the paint and coatings industry, external
2025 pressures stemming from global economic uncertainty and
geopolitical tensions continued to influence consumption
Throughout 2025, the global economy underwent behavior and production cost structures. This condition was
a transition phase marked by policy shifts and heightened reflected in more cautious customer demand and rising
uncertainty. Changes in trade policies, including the raw material costs, which impacted the cost of goods sold.
implementation of higher tariffs by the United States and These challenges prompted business players to strengthen
subsequent adjustment measures, reflected a growing trend efficiency and supply chain resilience to maintain operational
toward protectionism and global economic fragmentation. stability amid challenging market dynamics.
Conversely, several developed nations implemented more
expansive fiscal policies to sustain growth, despite concerns
regarding fiscal sustainability and potential cross-border
impacts. In this context, global economic growth is projected
to slow from 3.3% in 2024 to 3.2% in 2025. Concurrently,
the global inflation trend is expected to decline to 4.2%
in 2025, while world trade growth remains limited due to
the continued fragmentation of supply chains and
international trade.
36 2025 Annual Report 2025 Annual Report 37
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Management Report PT Avia Avian Tbk
Challenges and Obstacles Faced and Main Meanwhile, sustained sales leadership from period to Performance Achievements and Business Furthermore, Avian Brands received recognition as the 2024
Strategies to Drive Avian Brands’ Business period reflects Avian Brands’ commitment to expanding Targets of Avian Brands Market Leader in the Indonesian Paint & Coating Industry
Growth its business scale measurably while strengthening long- award from Frost & Sullivan, the 2025 Katadata ESG Awards
term competitiveness. This growth strategy is supported Avian Brands continues to demonstrate excellence for the Chemicals Sector in the Governance Category from
Amid macroeconomic dynamics, the business climate faced by competent, dedicated human resources, which are and resilience in its performance, with operational and Katadata, the 2025 ENSIA in the Environmental Innovation
by Avian Brands was characterized by various challenges meticulously managed in accordance with labor regulations financial achievements aligned with its sustainable growth Category for the Emission Reduction Program from
and opportunities inherent to the manufacturing and and industry best practices. Information technology strategy, despite increasingly complex challenges in Sucofindo, Top 50 Big Capitalization Public Listed Company
building materials industries. These challenges included reliability is also an inseparable strategic component industrial dynamics and the broader business environment. and Best Sustainability and Resilience (Big Cap) from the
intensifying competition in the paint industry due to the in supporting overall business activities. Concurrently, On the production side, Avian Brands recorded Indonesian Institute for Corporate Directorship (“IICD”),
entry of new players and aggressive pricing strategies, Avian Brands continues to enhance brand awareness a production realization of 227,266 metric tons or 99.00% inclusion in the Fortune Southeast Asia 500 by Fortune,
raw material price fluctuations influenced by global through continued marketing programs and strengthens of the established target, a 15.16% increase compared to recognition for the 2025 Indonesian Architectural Paints
conditions, and changing customer preferences for customer loyalty through the Avian Brands Priority the 2024 realization of 197,339 metric tons. Of this total and Coatings Market Leadership from Frost & Sullivan and
high-quality, innovative, and eco-friendly products. Customer and Avian Brands Partner Programs. Avian Brands production, the Sidoarjo Plant remained the primary pillar being named a Strong Performer – Asia Top 30 ranking in
Additionally, logistics and distribution challenges across also expands its market into non-retail segments, such as with a contribution of 153,672 metric tons or 67.62% of the Paints & Coatings Category by the Asian Coatings & Ink
Indonesia’s vast geography, the need for service speed, projects, new builds, and business-to-business (B2B). total production, while the remainder was produced by the Federation (“ACIF”) and the Singapore Paints & Coatings
and operational cost efficiency demands remained critical Serang Plant with an achievement of 73,594 metric tons or Association (“SPACA”).
factors that must be meticulously managed. In facing 32.38% of total production. This operational performance
these conditions, Avian Brands continues to strengthen its Roles of the Board of Directors in the was further supported by the launch of up to 12 new
business foundation to remain adaptive, competitive, and Formulation and Implementation of the products throughout 2025, designed to meet diverse market Avian Brands’ Future Business Prospects
sustainable. Avian Brands’ Strategies needs and strengthen the product portfolio. Additionally,
Avian Brands successfully increased the number of its TKDN- Looking ahead, Avian Brands’ business prospects will
Avian Brands’ strength in maintaining business growth The Board of Directors plays a central role in shaping certified products to 55 and maintained GLS certification continue to be affected by global economic dynamics, which
is built upon an extensive distribution network, Avian Brands’ strategic direction, ensuring that every for 40 products, as part of its commitment to enhancing remain in an adjustment phase. An increasingly fragmented
a comprehensive product portfolio, consistently maintained business decision is grounded in a deep understanding of competitiveness and product sustainability. international economic landscape, accompanied by
product quality, and sustained sales leadership from period industry trends, market dynamics, and customer needs and structural challenges such as aging populations and
to period. In terms of distribution, Avian Brands continuously expectations. The strategy formulation process is conducted In terms of its financial performance, Avian Brands recorded moderate productivity growth, is expected to constrain
expands its reach to various cities across Indonesia through comprehensively, considering the business environment, net sales of IDR8,123.69 billion, or 99.85% of the 2025 target, medium-term growth acceleration. Under these conditions,
the expansion of wholly-owned distribution centers and Avian Brands’ internal conditions, and inherent opportunities an 8.73% increase from the 2024 realization of IDR7,471.36 global economic growth in 2026 is projected to slow down
partnerships with independent parties. Distribution success and risks. This ensures that the established strategies are billion. This achievement was supported by the architectural from 2025, with global inflation expected to continue its
is determined not only by geographical coverage but also not only responsive to short-term changes but also aligned solutions segment, which booked net sales of IDR6,291.90 decline to 3.7% in 2026. Nevertheless, easing inflationary
by the ability to quickly and efficiently reach the market. with the long-term goals of creating sustainable value for all billion or 77.45% of total net sales. Meanwhile, the trading pressures and stabilization of monetary policies in several
Therefore, the establishment of new distribution centers stakeholders. goods segment contributed net sales of IDR1,831.78 billion countries are expected to provide room for a gradual
continues as part of the strategy to accelerate product flow, or 22.55% of total net sales. The cost of goods sold was recovery in global demand.
enhance operational efficiency, and ensure optimal product In strategy implementation, the Board of Directors is recorded at IDR4,545.43 billion, a 10.04% increase compared
availability and service quality for customers nationwide. responsible for ensuring that every operational step is to 2024’s IDR4,130.61 billion. Accordingly, Avian Brands’ Amidst ongoing global challenges, the national economy
executed in accordance with GCG principles, oriented toward profit for the year was recorded at IDR1,744.02 billion or is projected to demonstrate relatively strong resilience
In terms of portfolio and product quality, Avian Brands efficiency, and focused on achieving measurable results. 102.89% of the target, a 4.83% increase compared to the and positive recovery momentum. For 2026, upside risks
continues to strengthen its innovation capabilities The Board of Directors actively supervises the execution 2024 figure of IDR1,663.70 billion. are expected to outweigh downside risks, supported by
through the Avian Innovation Center (“AIC”), the largest of various strategic initiatives through cross-functional maintained macroeconomic stability, continued fiscal
innovation hub in Indonesia for paint and building material coordination mechanisms, monitoring key performance Beyond operational and financial milestones, Avian and monetary policy support, and the strengthening of
products. AIC plays a vital role in developing high-quality indicators, and periodic evaluations of achievements. Brands also recorded significant strategic achievements international trade agendas. The Indonesian Government
products, driving sustainable innovation, and enhancing This approach allows Avian Brands to ensure that all throughout 2025. On March 13, 2025, Avian Brands made a is optimistic that Indonesia’s economic growth in 2026 can
manufacturing processes through digitalization, supported initiatives proceed according to plan, deliver positive strategic investment of IDR275.8 billion by acquiring 16.67% reach a target of 5.4%, driven by solid domestic consumption,
by the Laboratory Information Management System (“LIMS”) impacts on operational and financial performance, and of new shares in PT Dextone Lemindo, the manufacturer of sustainable investment, and efforts to diversify export
integrated with the Enterprise Resource Planning (“ERP”) support the long-term business viability of Avian Brands. “Dextone” adhesives. This step is part of Avian Brands’ growth markets. This condition serves as a vital foundation for the
system. Avian Brands also utilizes cutting-edge research strategy, both organic and inorganic, while strengthening business world, including the manufacturing and building
and testing instruments, such as Rheology Profiling and product portfolio synergies and solidifying its position as materials industries, to pursue continuous growth.
Gas Chromatography, and applies international standards the decorative paint market leader in Indonesia.
to ensure the highest and most consistent product quality.
In line with rising sustainability awareness, Avian Brands
is actively strengthening its product portfolio, which has
obtained SNI, GLS (Green Label Singapore), and TKDN
(Domestic Component Level) certifications.
38 2025 Annual Report 2025 Annual Report 39
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Management Report PT Avia Avian Tbk
In line with these developments, the Indonesian paint and and protection while fostering an ethical and responsible Changes in the Composition of the Board of Directors
coatings industry is projected to grow at approximately work environment. With a clear governance structure,
6.5% annually over the 2025–2032 period. This prospect is effective checks and balances, and strengthened oversight There was no change to the composition of the Board of Directors of Avian Brands throughout 2025. The composition of the
primarily driven by an increase in domestic consumption, and control, Avian Brands is optimistic that it can maintain current Board of Directors is described as follows:
which currently reaches approximately 1.3 million metric stakeholder trust while supporting sustainable business
tons, equivalent to 4.2 kilograms per capita. However, growth.
Indonesia’s per capita consumption remains relatively lower Name Position
than that of regional peers such as Thailand and Malaysia, Wijono Tanoko President Director
which range between 8–12 kilograms per capita, suggesting Implementation of Sustainability Ruslan Tanoko Vice President Director
significant room for long-term growth. While a potential Principles Robert Christian Tanoko Director
weakening of purchasing power may hinder short-term
Kurnia Hadi Sinanto Director
consumption growth, it does not diminish the industry’s Consistent with GCG principles implementation, Avian Brands
overall structural prospects in the medium to long term. integrates sustainability into its strategy and operations Angelica Tanisia Jozar Director
through a 4-pillars approach: Product, Environment, People
To optimize this growth momentum, Avian Brands has & Community, and Governance. Through the Product
set a strategic focus to drive double-digit sales growth, Pillar, Avian Brands strengthens its commitment to quality, Closing
particularly through expansion in the architectural solutions product safety, and information transparency, while
segment, which continues to show potential in line with driving innovation in low-carbon and low-Volatile Organic In closing this report, we would like to express our gratitude to all Avian Brands employees for the dedication, professionalism,
increasing activity in the architecture and construction Compound (VOC) formulations. Avian Brands actively listens and commitment demonstrated in fulfilling every role and responsibility. Concrete contributions of all individuals are
sectors. To support this objective, Avian Brands will prioritize to customer feedback, enhances quality standards, and the primary force that enables Avian Brands to keep growing, innovating, and maintaining sustainable performance.
the use of cutting-edge technology to enhance production ensures a better and more consistent customer experience We also extend our highest appreciation and gratitude to the Board of Commissioners for their consistent guidance, advice,
efficiency, the development of modern laboratories staffed at every service point. Within the Environment Pillar, and oversight functions provided throughout 2025. Strong support and synergy between the Board of Commissioners and the
by expert chemists to strengthen product innovation, Avian Brands focuses on increasing energy efficiency, wiser Board of Directors have served as a key foundation for maintaining governance discipline, ensuring accurate decision-making,
and improvements in supply chain quality and reliability. management of water and raw materials, and strengthening and sustaining the implementation of Avian Brands’ strategies amid evolving business environment dynamics.
Furthermore, Avian Brands will continue to optimize circular-economy initiatives across all business processes.
the implementation of ESG principles as an operational Avian Brands is also developing a decarbonization roadmap Appreciation is also extended to the Shareholders for their continued trust and support, as well as to all stakeholders, including
foundation, sustainably develop human resource that includes renewable energy, more measurable emissions customers, business partners, suppliers, and regulators, for the excellent cooperation established. With the support of all
competencies, expand distribution networks to reach wider management, and the development of low-carbon products. parties, the Board of Directors is optimistic that Avian Brands can step into the future in a stronger, more competitive, and
markets, and strengthen integrated information technology These efforts are aimed not only at achieving operational sustainable manner.
systems. With this strategy, Avian Brands is optimistic about targets but also as a tangible contribution to addressing
maintaining sustainable business growth while solidifying climate change challenges and preserving the environment.
its position as the market leader in the national paint On behalf of the Board of Directors of
industry. Through the People & Community Pillar, Avian Brands PT Avia Avian Tbk,
ensures that business growth goes hand in hand with
improved welfare for people. Consequently, Avian Brands
Implementation of Good Corporate continues to expand its Corporate Social Responsibility
Governance programs; solidifies its commitment to respecting human
rights; implements principles of diversity, equity, and
Avian Brands places GCG implementation as the primary inclusion; and enhances occupational health and safety. Wijono Tanoko
foundation for all business activities and strategic Competence development through continuous training President Director
decision-making. GCG implementation is not only and employee welfare enhancement remain key pillars in
oriented toward regulatory compliance but also directed building a resilient and sustainable organization. Meanwhile,
at building a sustainable culture of integrity, transparency, the Governance Pillar serves as the basis for maintaining
and accountability across all levels of the organization. Avian Brands’ integrity and accountability through
To support this, Avian Brands implements an integrated transparent governance, strengthening the WBS, and
internal control system to ensure operational effectiveness, compliance with prevailing laws and regulations. Avian
reliable financial reporting, asset protection, and regulatory Brands also implements sustainable procurement and
compliance, supported by the Internal Audit Unit, which supply chain management practices, including supplier
provides independent and continuous oversight. assessments, the use of renewable raw materials, and
logistics optimization to increase efficiency and reduce
In line with these efforts, Avian Brands implements environmental impact. Through these four pillars, Avian
a structured risk management system as part of the strategy Brands is committed to creating balanced long-term value
planning and execution process, through proactive risk for Avian Brands, its stakeholders, the environment, and
identification, evaluation, and control. Avian Brands also society at large.
optimizes the Whistleblowing System (WBS) as a reporting
mechanism that ensures whistleblowers’ confidentiality
40 2025 Annual Report 2025 Annual Report 41
Page 23
PT Avia Avian Tbk Company Profile “Avian Brands has grown into a pioneer of transformation within the national paint industry through a combination of product excellence, an extensive distribution network, a dedication to quality, and reliability within a single integrated ecosystem. With more than 2,600 SKUs reaching over 60,000 retail outlets across Indonesia, Avian Brands ensures that every color created is delivered timely, with excellent product quality.” 42 2025 Annual Report 2025 Annual Report 43
Page 24
Company Profile PT Avia Avian Tbk
Company
Identity
PT Avia Avian Tbk*)
Stock Code Business Sector Shareholding Headquarter
AVIA Manufacture and trade of paints and printing inks,
PT Tancorp Surya Sentosa : 36.60% Jl. Raya Surabaya – Sidoarjo KM. 19
varnishes, lacquers, adhesives or glues, mortar or Desa Wadungasih, Kec. Buduran, Sidoarjo 61252
PT Wahana Lancar Rejeki : 32.49%
ready-mixed concrete. Jawa Timur, Indonesia
Archipelago Investment Pte Ltd : 6.30%
Robert Christian Tanoko : 2.30% (62-31) 8968000
Listing of Shares on the Stock
Exchange Date of Establishment Rudi Tanoko : 1.68% corsec@avianbrands.com
Rony Tanoko : 0.04% investor.relations@avianbrands.com
December 8, 2021 March 1, 1983 Treasury shares : 4.26% www.avianbrands.com
on the Indonesia Stock Exchange Public : 16.33%
(each below 5%)
Branch Office
Authorized Capital Legal Basis of Establishment
Avian Brands Building
IDR2,000,000,000,000.- PT Avia Avian was established based on
Jl. Ahmad Yani No. 317
the Deed of Establishment of Limited Liability
Company No. 06 dated March 1, 1983, as amended Surabaya 60234
by Deed No. 63 dated May 23, 1983, both drawn Jawa Timur, Indonesia
Issued and Paid-up Capital up before Indrawati Setiabudhi, S.H., a Notary in (62-31) 99850500/99850600
Malang. The deed has been ratified by the Minister
IDR619,535,556,000.- of Justice of the Republic of Indonesia, by the
Decree of the Ministry of Justice of the Republic Address of Manufacturing Facilities
of Indonesia No. C2-4948.HT01.01 Th83 dated July
5, 1983 and has been registered with the Malang
Latest Deed Amendment District Court No. 016/PP/PI/VIII/1983 dated
Sidoarjo
Jl. Raya Surabaya – Sidoarjo KM. 19
August 8, 1983. Social Media
The latest amendment to Avian Brands’ deed is Desa Wadungasih, Kec. Buduran
Deed No. 3 dated April 10, 2025 drawn up before Sidoarjo 61252
Dr. Susanti S.H., M.Kn., a Notary in Surabaya City Jawa Timur, Indonesia
Total Employees (62-31) 8968000
regarding Changes to the Composition of the Board
Avian Brands
of Directors and/or the Board of Commissioners Serang
(Including Employees of Subsidiaries and
of PT Avia Avian Tbk. This change has been
Outsourced Employees) Jl. Raya Serang KM. 60
notified to the Ministry of Law of the Republic of
Male: Kawasan Pancatama 5 Kav. 50,
Indonesia based on the Letter of Acceptance for avian.brands Leuwilimus, Leuwi Limus, Cikande
the Notification of Changes to the Company’s Data 7,221 employees Kabupaten Serang 42186
No. AHU-AH.01.09-0182183 dated April 11, 2025. Female: Banten, Indonesia
*)
Throughout 2025, Avian Brands did not undergo any name changes.
2,176 employees @avianbrands (62-254) 402655
44 2025 Annual Report 2025 Annual Report 45
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Company Profile PT Avia Avian Tbk
Milestones
2011
Avian Brands expanded its product offerings into
2010 the instant cement product category. Avian Brands completed 2021
• Avian Brands adopted a point-of-sale tinting model and the construction of an instant cement plant located at • Avian Brands established PT Bangun Bersama Solusindo
deployed tinting machines for retail customers, providing the manufacturing facility in Sidoarjo and commenced the as a joint venture entity, with 50.00% shareholding
1978 thousands of color options; sales of instant cement products in the market under its “Giant each by Avian Brands and PT Cipta Mortar Utama,
• Avian Brands upgraded its quality management Mortar” brand. a wholly-owned subsidiary of the Saint-Gobain
Avian Brands’ business was initiated in 1978 by Mr. Soetikno
certification to ISO 9001:2008 on Quality Management Group, which is a leading player in the manufacturing
Tanoko in Sidoarjo, East Java, focusing on the production of
wood and metal paint products.
System; and 2012 of mortars for construction. The establishment of
• Avian Brands established PT Tirtakencana Batamindo, PT Bangun Bersama Solusindo was aimed at developing
a Subsidiary, as a distribution company focused on • Avian Brands was awarded the certification of ISO Avian Brands’ business in entering the two-component
establishing distribution centers in Batam. 14001:2005 on Environmental Management System, cement-based waterproofing paint market in Indonesia;
1981 as part of its efforts to improve environmental • In October 2021, Avian Brands acquired a 67.00%
performance and reduce waste; and shareholding in PT Multipro Paint Indonesia, which is
Avian Brands launched its first venture into wall paint
products under the “Avitex” brand. 2009 • Through a Subsidiary, PT Tirtakencana Tatawarna,
Avian Brands continued to expand its distribution network
engaged in the manufacture of protective paint and
marine paint;
• Mr. Robert Christian Tanoko, another third-generation to 55 distribution centers across Indonesia. • Avian Brands listed its shares on the Indonesia Stock
family member of Mr. Soetikno Tanoko, became involved
1983 in Avian Brands’ operations. Mr. Robert Christian Tanoko
Exchange on December 8, 2021, with the stock code
Avian Brands was established in 1983 as an integrated
served as Avian Brands’ Director and is the son of the 2014 AVIA; and
• Avian Brands continued its expansion plan by increasing
President Commissioner, Mr. Hermanto Tanoko; the number of wholly-owned distribution centers to
paint manufacturing company. The second generation of Avian Brands increased production capacity for wall paints
• Avian Brands successfully attained the certification of 101 through a Subsidiary, PT Tirtakencana Tatawarna.
Mr. Soetikno Tanoko’s family became involved in Avian Brands’ and waterproofings by 80,000 metric tons.
OHSAS 18001:2007 on Occupational Health and Safety
business, and his eldest son, Mr. Wijono Tanoko, serving
Management System; and
as President Director, and his youngest son, Mr. Hermanto
Tanoko, serving as President Commissioner, joined Avian
• Through its Subsidiary, PT Tirtakencana Tatawarna,
Avian Brands expanded its distribution reach to
2016
Brands in 1983.
48 distribution centers across Indonesia. Avian Brands continued to expand its distribution network to 2020
62 distribution centers across Indonesia through a Subsidiary,
• Avian Brands built the Avian Innovation Center dedicated
1985 2006
PT Tirtakencana Tatawarna.
to research, development, and innovation, with
Avian Brands continued to expand its product range in an approximate area of 5,000 m2;
the paint category to automotive refinish paint, including top
Avian Brands was awarded the certification of ISO 9001:2000
on Quality Management System.
2017 • As a testament to its ongoing commitment to providing
quality health and safety standards that are in line with
coats, primers, and spray paints.
• Avian Brands further increased its production capacity international standards, Avian Brands implemented
by 50,000 metric tons; and the ISO 45001:2018 on Occupational Health and Safety
1986 2005 • GIC (Ventures) Pte Ltd became a shareholder of 10.00% Management System Standard;
of Avian Brands’ shares through its wholly-owned • Avian Brands successfully received the Indonesia
Avian Brands strategically focused on vertical integration Avian Brands expanded its paint product offerings Subsidiary, Archipelago Pte Ltd. The proceeds from Decorative Coating Company of The Year 2020 from Frost
and commenced the manufacturing of resin as a raw material into waterproofing paint under the “No Drop” brand. the cash injection from GIC (Ventures) Pte Ltd were used & Sullivan; and
following the purchase of three reactors from Korea. By the end of 2005, Avian Brands had also successfully to repay all of Avian Brands’ outstanding bank loans. • Avian Brands continued the expansion of its distribution
expanded its presence across 20 locations in Indonesia network in Indonesia to 95 distribution centers through
through its distribution company, PT Tirtakencana Tatawarna. a Subsidiary, PT Tirtakencana Tatawarna.
1987
Avian Brands purchased 60,000 m2 of land near its
2018
manufacturing facility in Sidoarjo to expand the 2000 • Avian Brands acquired land located in Cirebon, West Java, 2019
manufacturing facility and build additional warehouses. Indonesia, with a total land area of 110,211m2, from its
• The third generation of Mr. Soetikno Tanoko’s family • Avian Brands developed and launched “Avitex One Coat”
affiliate PT Bira Industri Rejeki Agung, which is reserved
became involved in Avian Brands’ business, and paint and was awarded the first patent for Avitex’s one
as the future site of the third manufacturing facility;
1992 Mr. Soetikno Tanoko’s eldest grandson, Vice President
• Avian Brands further expanded its distribution network coat paint technology, which requires only one coat of
Director of Avian Brands, Mr. Ruslan Tanoko, who is the son paint instead of the usual two coats;
Avian Brands invested in a metal can factory located at to 78 distribution centers across Indonesia through
of Mr. Wijono Tanoko, President Director of Avian Brands, • Avian Brands successfully increased its distribution
the manufacturing facility in Sidoarjo to address the shortage a Subsidiary, PT Tirtakencana Tatawarna; and
became involved in the sales and marketing department network to 90 distribution centers across Indonesia
of metal cans from suppliers. • To commemorate its 40th anniversary, Avian Brands
of Avian Brands; and through a Subsidiary, PT Tirtakencana Tatawarna; and
moved into the newly constructed twenty-story
• Avian Brands established PT Tirtakencana Tatawarna, • Avian Brands entered into a non-exclusive license
headquarters in Surabaya. As a testament to its passion
a Subsidiary, as a distribution company that focuses on
1996 setting up distribution centers across Indonesia.
for innovation, the new headquarters is uniquely agreement with PT Walt Disney Indonesia to use certain
Disney logos, characters, and trademarks for its wall
designed with curves and twists, where each floor rotates
Avian Brands established a second manufacturing facility and twists by 60 degrees from the ground floor to the top paint products such as interior wall paint and special
in Serang, West Java, Indonesia, to strengthen its product of the tower. effects wall paint products in Indonesia.
penetration and distribution capabilities in the western
region of Indonesia.
46 2025 Annual Report 2025 Annual Report 47
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Company Profile PT Avia Avian Tbk
Milestones (continued)
2025 Brief History
• Avian Brands increased its total wholly-owned
2022 distribution centers to 129 and total wholly-owned
mini-distribution centers to 15 through Avian Brands’ Avian Brands possesses a distinguished track record as Magnetite (Fe₃O₄) paint technology for the HomeDeco
• Avian Brands continued to expand its marketing reach subsidiary, PT Tirtakencana Tatawarna; a pioneer in the national paint industry. Founded in 1978 by Magnetic product, and an innovative additive that
by increasing the number of wholly-owned distribution • Avian Brands carried out a strategic investment Mr. Soetikno Tanoko, father of the current President Director, accelerates the hardening and strengthening of concrete for
totaling IDR275.8 billion by acquiring 16.67% of new
centers to 109, and establishing 4 wholly-owned mini Mr. Wijono Tanoko, and the President Commissioner, the No Drop Platon product. These achievements underscore
shares in PT Dextone Lemindo, as a strategy for organic
distribution centers through a Subsidiary, PT Tirtakencana Mr. Hermanto Tanoko, Avian Brands has continuously Avian Brands’ position as a pioneer of innovation in the
and inorganic growth;
Tatawarna;
• Avian Brands officially became a member of the UNGC, evolved as a multi-generational family business. Today, paint and building materials industry, while simultaneously
• Avian Brands appointed a new member of the Board of
reflecting its demonstrated commitment to adopting it is managed by the third generation, represented by strengthening the foundation for more sustainable future
Directors, Mrs. Angelica Tanisia Jozar, in order to increase responsible business practices.
the proportion of women in the top management and Mr. Ruslan Tanoko (Vice President Director) and Mr. Robert growth.
• Avian Brands received the 2024 Market Leader in
realize its commitment to gender equality; the Indonesian Paint & Coating Industry award from Christian Tanoko (Director). Since its inception, Avian Brands
• Avian Brands was successfully awarded the certification Frost & Sullivan, the 2025 Katadata ESG Awards for has demonstrated a long-term vision by developing an Consistent with its commitment to innovation, Avian Brands
of ISO 50001:2018 on Energy Management System for the the Chemicals Sector in the Governance Category integrated manufacturing facility in Sidoarjo, East Java, also continues to strengthen its sustainability approach
manufacturing facilities in Serang and Sidoarjo; and from Katadata, the 2025 ENSIA in the Environmental
• Avian Brands launched new products, i.e., Woodcare Innovation Category for the Emission Reduction
that consolidates raw material and packaging production through the implementation of Environmental, Social, and
Series, Avitex Anti Viruz, No Drop Anti Panas, Avitex Gold, Program from Sucofindo, Top 50 Big Capitalization into a single modern system. Investments in cutting-edge Governance (“ESG”) principles across all operational aspects.
VIP Pengupas Cat Tembok (Water-Based), and several Public Listed Company and Best Sustainability and machinery served as the initial cornerstone of Avian Brands’ By the end of 2025, 40 Avian Brands products had obtained
other products to meet market needs. Resilience (Big Cap) from the Indonesian Institute for commitment to becoming a market leader in the Indonesian GLS certification, serving as tangible evidence of the
Corporate Directorship (“IICD”), Fortune Southeast
Asia 500 by Fortune, the 2025 Indonesian Architectural paint industry. Company’s environmental contribution through products
2023 Paints and Coatings Market Leadership from Frost & with low Volatile Organic Compounds (“VOC”) emissions,
Sullivan and Strong Performer – Asia Top 30 ranking in The success of this early foundation instilled the confidence heavy metal-free formulations, and the use of bio-based
• Avian Brands increased its total wholly-owned distribution the Paints & Coatings Category by the Asian Coatings for Avian Brands to continue expanding and broadening or eco-friendly alternative raw materials. Avian Brands’
centers to 118, and total wholly-owned mini-distribution & Ink Federation (“ACIF”) and the Singapore Paints &
Coatings Association (“SPACA”). its business reach. Expansion efforts commenced in 1996 reputation as a sustainable company was further reinforced
centers to 14 through PT Tirtakencana Tatawarna, Avian
Brands’ Subsidiary; • Avian Brands launched several new products, namely with the establishment of a second production facility in by various prestigious awards received throughout 2025.
• Avian Brands commenced construction of a new Sunguard Basic, Avian Platinum, No Drop Spray, Serang, West Java. This decision reinforced Avian Brands’
No Drop Cat Dasar Anti Bocor, No Drop Kolam Ikan
manufacturing facility in Cirebon with a land area of strategy to increase production capacity and broaden Collectively, these achievements demonstrate that Avian
11 hectares and an annual production capacity of up 2 Komponen, No Drop Plamir Anti Bocor, No Drop Butyl
Tape Anti Bocor, Boyo Wood Stain 2in1, Avian Epoxy distribution coverage in response to rapid market growth. Brands has not only successfully scaled its business and
to 225,000 tons, as a strategy to increase Avian Brands’
Filler, Avitex Wizz Cat Dasar, Avitex TOP, and Giant Recognizing the vital importance of a robust distribution strengthened its competitiveness but has also proven itself
production capacity to respond to future market
Mortar 225 – Plamir Instan Ekonomis. system, PT Tirtakencana Tatawarna was established in 2000 as a national company with a solid foundation in innovation,
opportunities and potential;
• Avian Brands successfully earned ISO/IEC 27001:2013 as a Subsidiary focused on developing distribution and sustainability, and long-term industrial leadership.
certification on Information Security Management System; 2024 marketing networks. This initiative was further expanded
• Avian Brands successfully received the Overall Winner through the establishment of PT Tirtakencana Batamindo
award in the 2023 Katadata Corporate Sustainability • Avian Brands increased its total wholly-owned
distribution centers to 124, and total wholly-owned in Batam in 2010 to strengthen market penetration in the
Awards (“KCSA”) for the Chemicals Sector category from
Katadata, the Green Industry Pioneer in Accelerating mini-distribution centers to 15 through PT Tirtakencana strategic regions of Western Indonesia.
Tatawarna, Avian Brands’ Subsidiary;
Sustainable Development in East Java award from the • Avian Brands secured two global patents, namely
Governor of East Java, Going Green is Good for Your the Magnetite Paint (Fe₃O₄) applied to HomeDeco As part of its business diversification strategy, Avian Brands
Business award from Xurya Daya Indonesia, Prevention Magnetic product and the Additive for Accelerating the expanded its business portfolio in 2018 by establishing
and Mitigation of Covid-19 in the Workplace award from Hardening and Reinforcement of Enhanced Concrete,
applied to No Drop Plaston product;
PT Solusi Rumah Praktis with a 99.99% ownership stake.
the Minister of Manpower of the Republic of Indonesia,
Zero Accident Award from the Governor of East Jawa, • Avian Brands received the ESG Award 2024 as This expansion continued with a strategic step involving an
and Indonesia Architectural Paints and Coatings Market the Best Issuer in the Capital Market Sector from Yayasan investment in a joint venture, PT Bangun Bersama Solusindo,
Keanekaragaman Hayati Indonesia (“KEHATI”), ESG
Leadership Award from Frost & Sullivan;
Award 2024 in the Chemicals Sector for Environment with a 50.00% ownership stake. Subsequently, in 2021,
• Avian Brands launched a range of new products, namely Category from Katadata, Recognition for its Initiative in Avian Brands bolstered its inorganic expansion through the
Admiral Thinner Serbaguna and Admiral Anti Fouling, Organizing Blood Donation in 2023 from the Indonesian acquisition of a 67.00% stake in PT Multipro Paint Indonesia.
Brilliant Cat Tembok Interior and Brilliant Cat Tembok Red Cross of Sidoarjo Regency, Annual Report Award
Eksterior, Boyo Politur Melamine, Avian Cling Zinc 2023 from the National Committee on Governance Policy This series of initiatives reflects Avian Brands’ sustained
Chromate, Admiral Wood Filler Epoxy, Admiral Cat Kapal, (Komite Nasional Kebijakan Governansi or “KNKG”), commitment to solidifying its business position, expanding
Aries Bling, Avitex Wizz, No Drop Plus 3 in 1, No Drop Basic, inclusion in Forbes’ “200 Best Under A Billion 2024” list, market reach, and integrating cross-entity synergies to drive
PROPER National Green Rating from the Ministry of
Avian Glue Epoxy Hemat, and Cat Besi Anti Karat Avian 3 in long-term growth and sustainable added value.
Environment and Forestry of the Republic of Indonesia,
1; and Top 50 Big Capitalization Public Listed Company from the
• Avian Brands initiated a corporate action of shares Indonesian Institute for Corporate Directorship (“IICD”),
buyback of its shares that have been issued and listed on as well as Green Industry Leader in the Green Future
Another significant milestone in Avian Brands’ journey was
the Indonesia Stock Exchange in a maximum amount of Summit 2024 Ceremony from Sun Energy; and achieved in 2021 with its Initial Public Offering, marking
1,425,000,000 shares or approximately 2.3% of the total • Avian Brands launched new products, namely Avian Avian Brands’ transformation into a public company. This
issued and paid-up capital. Cling Water Based, Boyo Politur Spray, No Drop Tile Grout,
No Drop Dempul Instan, No Drop Serat Fiber, GM 385 momentum drove the enhancement of more transparent
Perekat Bata Ringan Ekonomis, Pro-X 208, No Drop Beton and accountable corporate governance, in line with the
dan Batu Alam, Avian Non-Sag Epoxy Hemat, Supersilk spirit of continuous innovation. This commitment bore fruit
Semi Kilap, No Drop Kolam Ikan, GM 265 Acian Abu-Abu
Ekonomis, GM 275 Acian Putih Ekonomis, Supersilk Basic, with the acquisition of two international patents in 2024:
as well as Avian Cat Lapangan.
48 2025 Annual Report 2025 Annual Report 49
Page 27
Company Profile PT Avia Avian Tbk
Company Vision, Mission,
and Values
VISION
MISSION
“To provide added value to
stakeholders through “ To become an integrated, environmentally friendly,
the development of various leading, and trusted paint company in Indonesia.”
quality paints. “
The Board of Commissioners and the Board of Directors periodically review the Vision and Mission of Avian Brands to ensure
their alignment with the strategic direction, industry dynamics, and internal developments. The results of the 2025 evaluation
indicate that the Vision to be an integrated, environmentally friendly, leading, and trusted paint manufacturer remains relevant
and consistent with the founding purposes of Avian Brands. Furthermore, the Mission to provide added value through
the development of high-quality paint products is deemed to have successfully supported the strengthening of Avian Brands’
position amidst industrial competition. This review confirms that the implemented strategies and policies are fully aligned with
the Vision and Mission and are capable of driving sustainable growth.
CORPORATE VALUES
Corporate Values serve as the primary foundation in shaping a strong and
sustainable work culture. At Avian Brands, these values are not merely
guidelines for individual behavior but also the cornerstone for strategic
C IN T A
and operational decision-making across all business lines. By prioritizing Customer Focus Integrity Teamwork Agility
the CInTA values (Customer Focus, Integrity, Teamwork, and Agility),
Ability to be agile, flexible,
Avian Brands instills a spirit of high collaboration, trust, and adaptability. Able to make (internal and Be honest in words, and have
Ability to be part of a group, work and assertive in anticipating,
These core values support the creation of a productive working relationship external) customers and their the commitment and consistency
with the group members, and initiating, and taking advantage of
and a competitive business environment that is steadfastly oriented needs as the main focus in in acting according to rules,
contribute to achieving any opportunity as well as to avoid
toward customer satisfaction. The detailed explanation of the Avian Brands a positive and productive working norms, and morality.
the group’s goals. negative consequences from
relationship.
Corporate Values is as follows: the changes.
50 2025 Annual Report 2025 Annual Report 51
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Company Profile PT Avia Avian Tbk
Meaning of Avian Logo Business Activities
The determination of a logo is not merely a visual symbol, but a reflection of the company’s values, philosophy, and identity. Avian Brands focuses its business operations on the manufacturing and wholesale trade sectors, with its primary product
The Avian Brands logo is designed with profound meaning, representing the spirit of growth, professionalism, and good lines consisting of paint and various complementary products. This is affirmed under Article 3 of the Avian Brands’ Articles
governance in conducting business sustainably. Every element within this logo, from its shape and orientation to its typography, of Association, pursuant to Deed No. 3 dated August 4, 2021, made before Liestiani Wang, S.H., M.Kn., Notary in the South
embodies a philosophy that reflects Avian Brands’ long-standing journey, its future direction, and steadfast commitment to its Jakarta Administrative City, regarding Amendments to the Articles of Association of PT Avia Avian Tbk. Pursuant to the Articles
stakeholders. The detailed explanation of the meaning behind the Avian Brands logo is as follows: of Association, it is declared that the purpose and objective of the establishment of Avian Brands are to engage in business
activities within the manufacturing and wholesale trade. To achieve these objectives, Avian Brands is authorized to carry out
various business activities that support sustainable growth in alignment with the prevailing laws and regulations, as detailed
below:
Paint and Printing Ink Industry
3 Strands of Feathers The lines depicting “3 Strands of Feathers” symbolize the 3 generations of Avian Brands’
This group encompasses the manufacture of various paints, such as base paint, metal paint, wood
management, namely the past, present, and future. The 3 Strands of Feathers unite
paint, wall paint, boat paint, epoxy and enamel paint, and lacquer, including the industries of processed
to form the body of a duck with a figure symbolizing Avian Brands that is managed pigments and dyes, dyes and opacifiers, enamel polish and coatings, and other preparatives, printing inks,
professionally, transparently, and guided by Good Corporate Governance so that and art paints.
1
Avian Brands may continue to grow positively and remain strong, while providing added
2
value to stakeholders, Shareholders, and investors.
3
Varnish Industry (Including Mastics)
This group encompasses the manufacture of various types of varnishes, such as organic composite
Duck Figure The head of the duck represents gentleness, kindness, honesty, and humanity.
solvents and thinners, as well as paint or varnish removers, including mastics.
The duck figure facing right, symbolizes Avian Brands’ constant forward motion, strength,
perseverance and ability to seize opportunities from any upcoming challenges to further its
mission of sustainable corporate development. Lacquer Industry
This group encompasses the manufacture of lacquer, including the industries of putty and plaster or putty
compounds and non-refractory putty or similar surface-covering materials.
Logotype The logotype is divided into 2 hierarchical parts, namely:
• The word “Avian” uses a bold Serif font that symbolizes Avian Brands’ identity; and
• The word “Brands” describes various types of decorative paint products, wood and
Adhesive/Glue Industry
metal paints, waterproofing, adhesives, instant cement, and other supporting building
materials. It also uses a more straightforward Sans Serif font. This group encompasses the manufacture of adhesives/glues for industrial or household purposes,
derived from plants, animals, or plastics, such as starch, bone adhesives, cellulose esters and ethers, phenol
formaldehyde, urea formaldehyde, melamine formaldehyde, and epoxy adhesives.
Philosophy of Avian Logo Color Ready-mixed and Dry-mixed Concrete and Mortar Industry
The philosophy of the logo is further reinforced and represented by the following color selection: This group encompasses the manufacture of ready-mixed and dry-mixed concrete and mortar.
Emerald Green Turquoise Lime Green
Represents the PAST, protects Represents the PRESENT, Represents the FUTURE,
its successors with vast bridges generational and brings fresh ideas
discretion, experience, and relationships, provides balance, and unrelenting passion,
maturity. stability, and knowledge regeneration, and growth.
accumulation.
• The choice of the gradation of green also represents the harmonious relationship between the three generations.
• GREEN itself symbolizes the “sense of art”.
52 2025 Annual Report 2025 Annual Report 53
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Company Profile PT Avia Avian Tbk
Products and Services
In addition to the main business activities in the manufacturing industry and wholesale trade, Avian Brands may also conduct
supporting business activities as described below:
Avian Brands consistently builds and reinforces its Architectural Solutions
Industry of Artificial Resin (Synthetic Resin) and Plastic Raw Materials reputation as a leading solution provider in the field
The architectural solutions products are the main products
of architectural paints and equipment by providing
produced by Avian Brands, comprising wall paint, wood and
high-quality products and services. This commitment metal paint, waterproofing paint, wood care, as well as other
This group encompasses the manufacture of artificial resins and plastic raw materials (pure plastic ore),
is realized by delivering an extensive portfolio divided architectural solutions, including roof paint, instant cement,
such as alkyds, polyesters, aminos, polyamides, epoxides, silicones, polyurethanes, polyethylene (“PE”),
polypropylene (“PP”), polystyrene, polyvinyl chloride, cellulose acetate, and cellulose nitrate. Further
into two primary categories. The first category is and automotive refinish paint. As of December 31, 2025, Avian
Architectural Solutions, which encompasses a range of Brands has a diversified portfolio of approximately more than
processing of artificial resins and purchased plastic materials to produce goods from these raw materials, 2,600 SKUs for architecture solution products that are marketed
such as plastic articles and films and film sheets that are not yet sensitive to light are included in 26800. coating products and building materials designed to
and distributed, reaching 124 brands. Some of Avian Brands’
support construction, renovation, and property finishing major household brands include Avian, Avitex, and No Drop.
Industry of Organic-based Chemical for Raw Materials of Dyes and Pigments, for both residential and commercial sectors. The second
Dyes, and Pigments category is Trading Goods, consisting of complementary
products that enhance architectural solutions to be more Trading Goods
comprehensive and functional. Through these categories,
This group encompasses basic chemical industry businesses that produce organic chemicals, dyes, and
pigments, along with their cyclical intermediates, such as phenol intermediates and their derivatives, Avian Brands ensures that customers can fulfill all their Avian Brands’ trading goods are mainly the supporting
textile dyes, and dyes for food and medicine. needs for coating and supporting equipment within products of architectural solutions comprising sales of pipes,
a single, integrated service ecosystem. furniture, and supporting products required in the painting
processes, such as paint rollers, paint brushes, sealing tape, and
Industry of Buckets, Cans, Drums, and Other Metal Containers sandpaper. Such trading goods are not manufactured by Avian
More detailed information about Avian Brands’ products Brands but are procured from its affiliates. Trading of these
and services is described as follows: goods is performed by a Subsidiary, PT Tirtakencana Tatawarna.
This group encompasses the manufacture of metal or canned containers, such as food or beverage cans, paint
or other chemical cans, barrels, drums, buckets, boxes, jerrycans, and others. Including the metallic closure
industry.
Architectural Solutions
Wholesale Trade of Paints Wall Wood and Metal Waterproofing
This group encompasses large trading businesses of various kinds of paints for construction materials, such
as base paints, metal paints, wood paints, and wall paints. Including the retail trade of enamel, putty, and Sunguard
All-In-One
Sunguard Supersilk
Semi Kilap
Supersilk
Anti Noda
Supersilk Supersilk Basic Platinum Avian 3 in 1
Anti Karat
Avian Cat Kayu
dan Besi
No Drop
Anti Panas
No Drop Beton
dan Batu Alam
No Drop No Drop Basic No Drop
Bitumen Black
plaster.
Avitex Gold Avitex Anti Avitex Avitex Cat Avitex Wizz Aquamatt Avian Cling Avian Cling Glovin Cat Kayu No Drop No Drop No Drop No Drop No Drop
Viruz Eksterior Tembok Synthetic Zinc Chromate dan Tembok Kolam Ikan Plus 3 in 1 Serat Fiber Plaston Mortar
Business Activities Conducted in 2025 Aries Gold Aries Bling Aries Cat Yoko Cat Kayu Avian Cling Admiral Cat No Drop Tape No Drop No Drop Pro-X 207
Tembok dan Tembok Water Based Kapal Tile Grout Dempul Instan
Wood Care and Glue Others
Has Been/Has Not Been
Business Activities based on Articles of Association
Conducted
Wood Eco Series Avian Lem Avian Lem Avian Non-Sag Absolute Roof Avitex Cat Yoko Cat Giant Mortar GM 265 Acian Giant Mortar
Epoxy Super Epoxy Hemat Epoxy Super Coating Genteng & Seng Genteng & Seng 220 Abu-Abu Ekonomis 270
Main Business Activities Roof Paint
Paint and Printing Ink Industry
GM 275 Acian Giant Mortar GM 385 Perekat Bata
Varnish Industry (Including Mastics) Boyo Series Avian Non-Sag Epoxy Hemat Lem Putih VIP
PVAc
Putih Ekonomis 380 Ringan Ekonomis
Lacquer Industry
Adhesive/Glue Industry Boyo Politur
Suzuka Cat
Duco Otomotif
Suzuka Spray Admiral Thinner VIP Pengupas
Serbaguna Cat Tembok
VIP Paint
Remover
Giant Mortar
420
Giant Mortar
L500
Pro-X 208
Boyo Series Admiral Wood Filler Epoxy
Spray
Autorefinish and Thinner Wall Paint Instant Cement
Ready-mixed and Dry-mixed Concrete and Mortar Industry Wood Care Glue Spray Paint Peeler
Supporting Business Activities
Industry of Artificial Resin (Synthetic Resin) and Plastic Raw Materials Trading Goods
Industry of Organic Basic Chemical Industry for Raw Materials of Dyes and Pigments, Dyes, and Pigments Pipes Furniture Supporting Products
Industry of Buckets, Cans, Drums, and Other Metal Containers
Wholesale Trade of Paints
Power Max Power Quad Homecare
Activ
54 2025 Annual Report 2025 Annual Report 55
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Company Profile PT Avia Avian Tbk
Category Product Name Category Product Name
Wall Paint • Sunguard All-In-One; • Avitex Gold; • Aries Bling; Thinner • Admiral Thinner Serbaguna; • Avia Thinner Lacquer Super; • Thinner 1633;
• Sunguard; • Avitex Anti Viruz; • Aries Gold; • Avian Thinner Enamel; • Aries Thinner Lacquer A; • Thinner 1634;
• Sunguard Basic; • Avitex Eksterior; • Aries Cat Tembok; • Avian Thinner B Asli; • Aries Thinner Lacquer A Special; • Thinner 1601; and
• Supersilk Semi Kilap; • Avitex Cat Tembok; • Aquamatt; • Avia Thinner Lacquer A; • Thinner 16213; • Thinner 1602.
• Supersilk Anti Noda; • Avitex Wizz; • Everglo Kids Care; • Avia Thinner Lacquer A Special; • Thinner 1660;
• Supersilk; • Avitex 4kids; • No Odor Medicare;
Concrete Additive • No Drop Obat Cor Anti Bocor.
• Supersilk Basic; • Avitex One Coat; • No Odor;
• Brilliant Cat Tembok Interior; • Avitex Cat Tembok Dapur & • Jasmine; and Constructive Adhesive • Epoxy Bond Super Steel; • No Cracks; • Rust Off; and
• Brilliant Cat Tembok Eksterior; Kamar Mandi; • Fres. • Epoxy Bond Super Strong; • Rapid Bond; • Ultimate Bond.
• Avitex TOP; • Grease Off; • Rocket Bond;
Special Effect and • HomeDeco Glow In The Dark; • HomeDeco Glitz; and • HomeDeco Metallic. Others • VIP Pengupas Cat Tembok; • Pro-X-208.
Texture Paint • HomeDeco Magnetic; • VIP Paint Remover;
• Avitex Biocidal Wash; and
Waterproofing • No Drop Anti Panas; • No Drop Serat Fiber; • No Drop Spray;
• No Drop Beton dan Batu Alam; • No Drop Mortar Anti Bocor; • No Drop Kolam Ikan Supporting Products • Basic Paint Roller; • All Paints Paint Roller; • Roof Drain;
• No Drop; • No Drop Tape; 2 Komponen; • Green Brush; • Budget Roller Cover; • Kran Air Taman;
• No Drop Basic; • No Drop Dempul Instan; • No Drop Plamir Anti Bocor; • Yellow Brush; • Regular Roller Cover; • Seal Tape Ekonomis;
• No Drop Bitumen; • No Drop Plus 3in1; • No Drop Butyl Tape Anti Bocor; • Plastic Scrapper; • All Paints Roller Cover; • Basic Paint Tray Set;
• No Drop Kolam Ikan; • No Drop 100; and • Mini Refill; • Abrasive Paper; • Paint Tray Set;
• No Drop Membran; • PRO-X 207; • No Drop Acian Anti Bocor. • Mini Roller; • Abrasive Cloth Roll; • Eco Paint Roller;
• Paint Tray; • Masking Tape; • Amplas Bulat Velcro;
Wood and Metal Paint • Admiral Cat Kapal; • Avian Cat Kayu dan Besi; • Avian Cat Alumunium;
• White Brush; • Seal Tape; • Cloth Tape;
• Avian Cling Synthetic; • Glovin Cat Kayu dan Besi; • Cat Besi Anti Karat Avian 3 in 1;
• Synthetic Brush; • Drywall Tape; • Kran Air Besi;
• Yoko Cat Kayu dan Besi; • Avian Cling Water Based; and
• Budget Paint Roller; • Fiberglass Tape; • Honeycomb Paint Roller; and
• Avian Platinum.
• Kran Air Ekonomis.
Wood Care • Wood-Eco Woodstain Water-Based; • Boyo Wood Stain Solvent-Based; • Boyo Clear Coat NC
Sealant • Silicone Sealant Multi Purpose; • Silicone Sealant Tube;
• Wood-Eco Woodstain • Boyo Politur Vernis Water-Based; Solvent-Based;
• Silicone Sealant Sanitary; • PRO-X 111;
Solvent-Based; • Boyo Politur Vernis Solvent-Based; • Boyo Politur Melamin;
• Silicone Sealant Glass & Metal; • PRO-X-222; and
• Wood-Eco Politur Eksterior P03; • Boyo Wood Filler Solvent-Based; • Boyo Politur Spray; and
• PRO-X-110.
• Wood-Eco Politur Interior P01; • Boyo Sanding Sealer NC • Boyo Wood Stain 2 in 1.
Solvent-Based;
Primer • Avian Cling Zinc Chromate; • Lenkote Alkali Resisting Primer; • Belmas Zinc Chromate;
• Avian Zinc Chromate; • Lenkote Wall Sealer; • Suzuka Epoxy Filler; Product Development in 2025
• Avitex Alkali Resisting Primer; • Yoko Cat Dasar Kayu dan Besi; • Avian Epoxy Filler; and
• No Drop Cat Dasar Anti Bocor; • Avitex Wizz Cat Dasar. Product development serves as one of Avian Brands’ strategic pillars for delivering continuous innovation and enriching a
Putty • Lenkote Plamir Tembok • Avitex Plamir Tembok; and competitive portfolio. By prioritizing an approach rooted in in-depth research and keen market insights, Avian Brands
(Wall Putty); • Aries Gold Wall Putty. proactively responds to the evolving dynamics of customer needs and industrial trends. Several products developed and
• No Odor Wall Putty;
marketed throughout 2025 are detailed as follows:
Roof Paint • Absolute Roof Coating; • Avitex Cat Genteng & Seng; and • Yoko Cat Genteng & Seng.
Instant Cement • Giant Mortar 220 - Plamir Instan; • Giant Mortar 275 - Acian Putih • Giant Mortar 480 - Perekat
• Giant Mortar 260 - Acian Abu-abu; Ekonomis; Keramik Dinding & Lantai;
• Giant Mortar 265 - Acian Abu-abu • Giant Mortar 380 - Perekat Bata • Giant Mortar L500 - Bonding
Ekonomis; Ringan; Adhesive;
• Giant Mortar 270 - Acian Putih; • Giant Mortar 385 - Perekat Bata • Giant Mortar 510 - Tile Grout; and
Ringan Ekonomis; • GM Mortar 225 - Plamir Instan
• Giant Mortar 420 - Perekat Ekonomis.
Keramik Ekonomis;
Glue • Avian Lem Epoxy Super; • Viplas; • Non-Sag Epoxy;
• Avian Lem Epoxy Hemat; • Admiral Wood Filler Epoxy; • Lem Pipa PVC;
• Avian Non-Sag Epoxy Super; • Epoxy Steel 5 Menit; • Instant Glue;
• Avian Non-Sag Epoxy Hemat; • Epoxy Rapid 5 Menit; • Super Glue 808;
• Lem Putih VIP PVAc; • Epoxy Steel 2 Jam; • Lem Kuning Serbaguna; serta
• Lem Putih MAX PVAc; • Epoxy Adhesive No Filler; • Lem Putih PVAc.
Sunguard Basic Avian Platinum No Drop Spray No Drop Cat Dasar
Stone Coating • No Lumut Solvent-Based; and • No Lumut Water-Based. Anti Bocor
Grout Filler • No Drop Tile Grout.
• Anti-Mold and Anti-Mildew • High Gloss • Waterproof • Waterproof
Autorefinish and • Suzuka Spray; • Suzuka 2:1 PU Clear Coat; and • Suzuka 4:1 PU Clear Coat. • Best Opacity • No Yellowing • Elastic • Prevents Damp Walls
Spray Paint • Suzuka Cat Duco Otomotif; • Super Cover Technology • Extreme weather-resistant • Can be painted • Alkali and Efflorescence
Floor Coating • Avian Roadline Paint; • Avian Cat Paving; and • Avian Cat Lapangan. Resistant
56 2025 Annual Report 2025 Annual Report 57
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Company Profile PT Avia Avian Tbk
Manufacturing Facilities
Avian Brands operates two large-scale integrated manufacturing facilities, positioning the Company among the largest and
most technologically advanced paint manufacturers in Indonesia. These facilities are supported by sophisticated high-tech
systems, including Enterprise Resource Planning (“ERP”) and Warehouse Management System (“WMS”), as well as various
automation systems such as the Automatic Weighing System (“AWS”), Distributed Control System (“DCS”), Computerized
Monitoring Board (“CMB”), Yard Management System (“YMS”), and Computerized Maintenance Management System (“CMMS”)
to ensure efficiency, precision, and quality control across the entire production value chain. Digitalization of work processes is
also implemented to reduce the use of physical documents and support environmentally friendly practices.
No Drop Kolam Ikan 2 No Drop Plamir No Drop Butyl Tape Boyo Wood Stain 2 in 1
Komponen Anti Bocor Anti Bocor Avian Brands’ commitment to sustainability is reflected through the utilization of renewable energy with the installation of
solar panels and the use of transparent roofing that optimizes natural lighting. Its manufacturing facilities have been certified
• Easy to Apply • Anti-Mold and Anti-Mildew • Elastic • Environmentally Friendly
• Non-toxic • Can be painted • Waterproof • For Exterior and Interior Use ISO 9001, ISO 14001, ISO 45001, ISO 50001, and ISO/IEC 27001:2013, demonstrating high standards of quality, environment,
• Waterproof • Elastic • Can be painted • Anti-Mold and Insects safety, energy, and information security. Furthermore, Avian Brands is also equipped with a professional workforce and
an Emergency Response Team (“ERT”) certified by the Ministry of Manpower of the Republic of Indonesia to ensure preparedness
in facing emergency situations and maintaining the safety of all employees.
Further information regarding the profile of Avian Brands’ manufacturing facilities is outlined as follows:
Production
Land Area Production Capacity
No. Owner Location Year Main Products Ownership
(m2) Shift (in metric
tons/year)
No Drop, Avitex,
Avian Cat Kayu
Right to Build
dan Besi, Supersilk, Operates
Certificate
Giant Mortar 225 – Plamir Avian Sunguard, Aries 1 - 2 shifts
Avian Epoxy Filler Avitex Wizz Cat Dasar Avitex TOP 1. Sidoarjo 105,121 1978 (under 213,840
Brands Gold, Boyo, Jasmine, per day,
Instan Ekonomis the name of
Avian Thinner, Avian 5 days/week.
• Easy to Sand • 2x thicker • Crisp White Color Avian Brands).
Epoxy, Suzuka, dan
• Superior Adhesion • Quick Drying • Best Opacity • Practical
Giant Mortar.
• Perfect Pore Filling • Best Opacity • Best Coverage • Economical
• Perfectly Seal Hair Cracks Right to Build
No Drop, Avitex, Operates
Certificate
Avian Avian Cat Kayu dan 1 - 2 shifts
2. Serang 36,880 1996 (under 72,576
Brands Besi, Aries Gold, dan per day,
the name of
Giant Mortar. 5 days/week.
Avian Brands).
Total 286,416
Percentage of Avian Brands’ Manufacturing Capacity Based on Manufacturing Facilities Owned
25.34%
74.66%
Sidoarjo Plant Serang Plant
58 2025 Annual Report 2025 Annual Report 59
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Company Profile PT Avia Avian Tbk
Operational Areas Organizational Structure
Wholly-owned Distribution Center 129 GENERAL MEETING OF SHAREHOLDERS
Wholly-owned Mini Distribution Center 15
Independent Distribution Center 38
The Board of Commissioners
President Commissioner : Hermanto Tanoko
Independent Commissioner : Mohammad Noor Rachman Soejoeti
Independent Commissioner : Oscar Christian Maria Jozef Wezenbeek
The Good Corporate The Nomination and
Audit Committe
Governance Committee Remuneration Committe
Chairman : Robert Christian Chairman : Mohammad Noor Chairman : Mohammad Noor
Tanoko Rachman Soejoeti Rachman Soejoeti
Member : Kurnia Hadi Sinanto Member : Hermanto Tanoko Member : Sammy TS
Member : Iwan Sigit Member : Iwan Sigit Lalamentik
Member : Wardiman
President Director
Product Distribution Areas Wijono Tanoko
Wholly-owned Distribution Center
Sumatra Java Kalimantan Sulawesi Other Areas in Indonesia Total
26 57 15 16 15 129 Director of Research,
Development, and
Director of Operations
Vice President Director
Director of Finance
and Development and Investor Relations
Innovation
Angelica Tanisia Jozar Robert Christian Tanoko Ruslan Tanoko Kurnia Hadi Sinanto
Wholly-owned Mini Distribution Center
Sumatra Java Kalimantan Sulawesi Other Areas in Indonesia Total The Related Party Operational Sales Investor Relations
Transaction Committee
5 0 2 2 6 15 Iwan Sigit Dede Maryadi Andreas Timothy
Chairman : Kurnia Hadi Hadikrisno
Sinanto
Member : Wardiman
• Procurement
Member : Kristanto Marketing
• Strategic Management
Nagatan • Finance
System Novi Christiana
Independent Distribution Center • Accounting and Tax
• Sustainability
Sumatra Java Kalimantan Sulawesi Other Areas in Indonesia Total
The Corporate Secretary Information Technology
8 17 3 5 5 38 Hera Septi Astuti Hendrik Antonius
The Audit Internal Unit
Number of Retail Outlets Supplied Kristanto Nagatan
Sumatra Java Kalimantan Sulawesi Other Areas in Indonesia Total
11,782 32,530 5,808 5,594 4,341 60,055
60 2025 Annual Report 2025 Annual Report 61
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Company Profile PT Avia Avian Tbk
Membership in Associations Profile of the Board of Commissioners
Avian Brands consistently maintains active involvement in various industrial associations and business groups as part of its
commitment to continuous collaborative and adaptive growth. These memberships provide strategic value by expanding
business networks, fostering stronger relationships among industry peers, and unlocking cross-sector collaboration
opportunities that support Avian Brands’ sustainable growth. Through these forums, Avian Brands gains access to the latest
insights regarding policy developments, technological advancements, and market dynamics relevant to the paint industry and
other related sectors.
Furthermore, active participation in associations drives the enhancement of internal capabilities through the adoption of
best practices and benchmarking against widely recognized industry standards. Consequently, this involvement serves not
only as a platform for knowledge exchange and the strengthening of industrial roles but also as an integral component
in establishing excellent and high-standard corporate governance. As of the end of 2025, Avian Brands is a member of
the following associations:
Indonesian Paint Producers Indonesian Public Listed Companies
Association Association
Scale : National Scale : National
Status of Avian Brands : Member Status of Avian Brands : Member
SK Menkumham RI No. C-54.HT.01.03 Tahun 2006
Badan Pengurus ARSI menetapkan dan menganugerahkan
SERTIFIKAT KEANGGOTAAN
Kepada :
PT. AVIA AVIAN
Sebagai Anggota Asosiasi Resin Sintetik Indonesia
Nomor : 006.DES.ARSI.XII.17
Jakarta, 19 Desember 2017
Badan Pengurus
Asosiasi Resin Sintetik Indonesia
Ketua Umum, Sekretaris Umum,
Fahrurrozi Utun Sutrisna Sastrawijaya
Indonesian Synthetic United Nations Global The Indonesian
Resin Association Compact (“UNGC”) Employers’ Association
Notes: From left to right.
Scale : National Scale : International Scale : National
Status of Avian Brands : Member Status of Avian Brands : Member Status of Avian Brands : Member THE BOARD OF COMMISSIONERS:
Hermanto Tanoko (President Commissioner), Mohammad Noor Rachman Soejoeti (Independent Commissioner),
Oscar Christian Maria Jozef Wezenbeek*) (Independent Commissioner)
*)
Effectively served as an Independent Commissioner based on the Resolution of the Extraordinary General Meeting of
Shareholders of Avian Brands dated April 10, 2025.
62 2025 Annual Report 2025 Annual Report 63
Page 34
Company Profile PT Avia Avian Tbk
Hermanto Mohammad Noor
Tanoko Rachman Soejoeti
President Commissioner Independent Commissioner
Indonesian, 63 years old. Indonesian, 68 years old.
Term of Office and Basis of Appointment • President Commissioner of PT Caturkarda Depo Term of Office and Basis of Appointment Dual Appointments
Bangunan Tbk (2020 – present);
2021 – 2026: • President Commissioner of PT Multipro Paint 2021 – 2026: • Chairman of the Audit Committee of PT Bursa Efek
The Deed of Restatement of Shareholders’ Indonesia (2021 – present); The Deed of Restatement of Shareholders’ Indonesia (2018 – present);
Resolutions in Lieu of Extraordinary General Meeting • Member of the Nomination and Remuneration Resolutions in Lieu of the Extraordinary General • Chairman of the Audit Committee of Avian Brands
of Shareholders of Avian Brands No. 19 dated June 22, Committee of Avian Brands (2021 – present); Meeting of Shareholders of Avian Brands No. 19 dated (2021 – present);
• President Commissioner of PT Penta Valent Tbk June 22, 2021, drawn up before Anwar, S.H., M.Kn., • Chairman of the Nomination and Remuneration
2021, drawn up before Anwar, S.H., M.Kn., a Notary in
a Notary in Gresik Regency. Committee of Avian Brands (2021 – present);
Gresik Regency. (2022 – present);
• Independent Commissioner of PT Nusantara
• President Commissioner of PT Solusi Rumah Praktis
Educational Background and Sejahtera Raya Tbk (2023 – present);
Educational Background and (2024 – present); and • Independent Commissioner of PT Champ Resto
Certifications
Certifications • Director of PT Tancorp Global Sentosa Indonesia Tbk (2025 – present); and
(2025 - present). • Bachelor of Economics from Gadjah Mada • Independent Commissioner of PT Sillo Maritim
Master of Management from IBMT School of Perdana Tbk (2025 – present).
University, Yogyakarta, in 1982; and
Management in 2001. Education/Training in 2025 • Master of Arts in Economics from Colorado State
University, Colorado, United States of America, in Education/Training in 2025
Work Experiences • Business Dialogue Summit by the Indonesia
1991.
Tionghoa Culture Centre; and -
• Commissioner of PT Sariguna Primatirta • Regional Working Meeting by the Regional Work Experiences
(2001 – 2009); Governing Board of Real Estat Indonesia. Affiliation
• Vice President Director of PT Solusi Rumah Praktis • Head of Inspection and Investigation Bureau,
(2018 – 2024); and Affiliation Capital Market Supervisory Agency, Ministry of Mr. Mohammad Noor Rachman Soejoeti has no
• President Director of PT Tancorp Global Sentosa Finance of the Republic of Indonesia (1999 - 2000); family relationship with any other members of
(2010 – 2025). Mr. Hermanto Tanoko is Avian Brands’ ultimate • Member of the Supervisory Board of the Republic of the Board of Commissioners, members of the
beneficial owner, who shares a familial relationship Indonesia Money Printing Corporation (2000 – 2007); Board of Directors, or the Main and Controlling
Dual Appointments with Mr. Wijono Tanoko as President Director, • Head of Service Sector Company Financial Shareholders, either directly or indirectly, up to the
Mr. Ruslan Tanoko as Vice President Director, Assessment Bureau, Capital Market Supervisory level of Individual Owner.
• Commissioner of PT Tirtakencana Tatawarna and Mr. Robert Christian Tanoko as Director. Agency, Ministry of Finance of the Republic of
(2000 – present); He is also affiliated with the Main and Controlling
Indonesia (2000 - 2011); Statement on Independence of
• President Commissioner of PT Jaya Sukses Makmur Shareholder of Avian Brands, namely PT Tancorp
• Head of Securities Transactions and Institutions Independent Commissioners
Bureau, Capital Market and Financial Institutions
Sentosa Tbk (2003 – present); Surya Sentosa, where he serves as President Director. Supervisory Agency, Ministry of Finance of the The currently appointed Independent Commissioner
• President Commissioner of PT Sariguna Primatirta However, he has no familial relationship with any Republic of Indonesia (2012 - 2013); is serving his first term, and therefore, Avian
Tbk (2009 – present); other members of the Board of Commissioners or • Deputy Commissioner for Capital Market Brands does not provide information regarding
• Commissioner of PT Tirtakencana Batamindo the Board of Directors. Supervision II of the Financial Services Authority the statement on the independence of an
(2010 – present); (2013 – 2017); Independent Commissioner having served for more
• President Commissioner of PT Avia Avian Industri • President Commissioner of PT Maybank Asset than two terms.
Pipa (2014 – present); Management (2017 – 2020);
• President Director of PT Tancorp Surya Sentosa • President Commissioner of PT Ristia Bintang
Mahkota Sejati Tbk (2018 – 2020); and
(2015 – present);
• Commissioner of PT Bursa Efek Indonesia
(2018 – 2024).
64 2025 Annual Report 2025 Annual Report 65
Page 35
Company Profile PT Avia Avian Tbk
Profile of the Board of Directors
Oscar Christian
Maria Jozef Wezenbeek*)
Independent Commissioner
Dutch citizen, 61 years old.
Term of Office and Basis of Appointment Dual Appointments
2025 – 2026: • Member of the Board of Directors of DutchCham
The Deed of Restatement of Shareholders’ Resolutions (2024 – present);
in Lieu of the Extraordinary General Meeting of • Managing Partner of Sage Boardroom Consulting Pte.
Shareholders of Avian Brands No. 3 dated April 10, 2025, Ltd. (2024 – present);
drawn up before Dr. Susanti, S.H., M.Kn., a Notary in • Senior Consultant of Mercuri Urval (2025 – present);
Surabaya City. and
• Faculty Lecturer of Singapore Management University
Educational Background and (2025 – present).
Certifications
Education/Training in 2025
• Industrial Engineer degree and Master of Business
Administration from the Technical University, Accredited Assessor in Hogan Assessment Systems by
Eindhoven, The Netherlands, in 1988; and Optimal in Singapore.
• Accredited Executive Coach at Practitioner Level by the
European Mentoring and Coaching Council (“EMCC”). Affiliation
Work Experiences Mr. Oscar Christian Maria Jozef Wezenbeek has no family
relationship with any other members of the Board of
• Deputy Chairman of the Board of Directors of Commissioners, members of the Board of Directors, or
International Paint of Shanghai Co., Ltd. (2012 – 2018); the Main and Controlling Shareholders, either directly or
• Chairman of the Board of Directors of International indirectly, up to the level of Individual Owner.
Paint Ltd. (2013 - 2018);
• Chairman and Chief Executive Officer of AkzoNobel
Paints Pte Ltd. (2018- 2023); Statement on Independence of
• Chairman of the Board of Directors of AkzoNobel Sri Independent Commissioners
Lanka (PVT) Ltd. (2018-2023);
• President of the Board of Commissioners of PT ICI The currently appointed Independent Commissioner is
Paints Indonesia Ltd. (2018-2023); serving his first term, and therefore, Avian Brands does
• Chairman of the Board of Directors of AkzoNobel not provide information regarding the statement on the
Pakistan Ltd. (2019-2023); independence of an Independent Commissioner having
• Chairman of the Board of Directors of AkzoNobel served for more than two terms.
India Ltd. (2019-2023); and
• Chairman of the Members Council of AkzoNobel
Vietnam Ltd. (2020-2023).
*)
Effectively in office as an Independent Commissioner, based on the resolution of Avian Brands’ Extraordinary General Meeting of Shareholders dated April 10, 2025.
Change in the Composition of Members of the Board of Commissioners and Reason for the Change
Notes: From left to right.
In 2025, there was a change in the composition of Avian President Commissioner : Hermanto Tanoko
Brands’ Board of Commissioners following the appointment Independent Commissioner : Mohammad Noor Rachman Soejoeti THE BOARD OF DIRECTORS:
of Mr. Oscar Christian Maria Jozef Wezenbeek as a new Independent Commissioner : Oscar Christian Maria Jozef Wezenbeek
Independent Commissioner, based on the resolution of Avian Ruslan Tanoko (Vice President Director), Kurnia Hadi Sinanto (Director),
Brands’ Extraordinary General Meeting of Shareholders dated The composition of the current Board of Commissioners is in accordance Wijono Tanoko (President Director), Angelica Tanisia Jozar (Director),
April 10, 2025. Thus, the composition of Avian Brands’ Board of with the relevant regulations related to Avian Brands’ business activities.
Commissioners is as follows:
and Robert Christian Tanoko (Director).
66 2025 Annual Report 2025 Annual Report 67
Page 36
Company Profile PT Avia Avian Tbk
Wijono Ruslan
Tanoko Tanoko
President Director Vice President Director
Indonesian, 73 years old. Indonesian, 50 years old.
Term of Office and Basis of • Vice President Director of PT Avia Avian Industri
Term of Office and Basis of Education/Training in 2025
Pipa (2017 – present);
Appointment Appointment
- • President Director of PT Solusi Rumah Praktis
2021 – 2026: 2021 – 2026: (2018 – present);
The Deed of Restatement of Shareholders’ Resolutions Affiliation The Deed of Restatement of Shareholders’ Resolutions • President Commissioner of PT Bangun Bersama
in Lieu of the Extraordinary General Meeting of in Lieu of the Extraordinary General Meeting of Solusindo (2021 – present); and
Mr. Wijono Tanoko is Avian Brands’ ultimate beneficial • Commissioner of PT Multipro Paint Indonesia
Shareholders of Avian Brands No. 19 dated June 22, Shareholders of Avian Brands No. 19 dated June 22,
owner, who shares a familial relationship with (2021 – present).
2021, drawn up before Anwar, S.H., M.Kn., a Notary in 2021, drawn up before Anwar, S.H., M.Kn., a Notary in
Mr. Hermanto Tanoko as President Commissioner,
Gresik Regency. Gresik Regency.
Mr. Ruslan Tanoko as Vice President Director, and Education/Training in 2025
Educational Background and Mr. Robert Christian Tanoko as Director. He is also Educational Background and
affiliated with the Main and Controlling Shareholder -
Certifications Certifications
of Avian Brands, namely PT Wahana Lancar Rejeki,
in which he serves as a Director. However, he has • Bachelor of Science in Chemistry and Bachelor
Affiliation
Graduated from Kolese Santo Yusuf High School,
Malang, in 1972. no familial relationship with any other members of of Science in Chemical Engineering from the Mr. Ruslan Tanoko is Avian Brands’ ultimate beneficial
the Board of Commissioners or the Board of Directors. University of Southern California, Los Angeles, owner, who shares a familial relationship with
Work Experiences United States of America, in 1996; and Mr. Hermanto Tanoko as President Commissioner,
• Master of Engineering in Chemical Engineering Mr. Wijono Tanoko as President Director, and
• President Director of PT Tirtakencana Batamindo from Cornell University, New York, United States Mr. Robert Christian Tanoko as Director. He is also
(2010 – 2016); and of America, in 1997. affiliated with the Main and Controlling Shareholder
• President Commissioner of PT Wahana Lancar
of Avian Brands, namely PT Wahana Lancar Rejeki, in
Rejeki (2013 – 2015). Work Experiences which he serves as President Director. However, he
Dual Appointments • Marketing Director of Avian Brands (2000 – 2016); has no familial relationship with any other members
• Director of PT Tirtakencana Tatawarna (2006 – 2014); of the Board of Commissioners or the Board of
• President Director of PT Avia Avian Industri Pipa • Director of PT Tirtakencana Batamindo (2010 – Directors.
(2014 – present); 2016);
• President Commissioner of PT Tirtakencana • Director of PT Wahana Lancar Rejeki (2013 – 2015);
Tatawarna (2014 – present); and
• Director of PT Wahana Lancar Rejeki • Commissioner of PT Avia Avian Industri Pipa
(2015 – present); (2014 – 2017).
• President Commissioner of PT Tirtakencana
Batamindo (2016 – present); Dual Appointments
• Commissioner of PT Solusi Rumah Praktis
(2018 – present); and • President Director of PT Tirtakencana Tatawarna
• President Director of PT Multipro Paint Indonesia (2014 – present);
(2021 – present). • President Director of PT Wahana Lancar Rejeki
(2015 – present);
• President Director of PT Tirtakencana Batamindo
(2016 – present);
68 2025 Annual Report 2025 Annual Report 69
Page 37
Company Profile PT Avia Avian Tbk
Robert Christian Kurnia
Tanoko Hadi Sinanto
Director Director
Indonesian, 40 years old. Indonesian, 56 years old.
Term of Office and Basis of • Director of PT Multipro Paint Indonesia Term of Office and Basis of Dual Appointments
(2021 – present);
Appointment Appointment
• Chairman of the Good Corporate Governance • Director of PT Avia Avian Industri Pipa
2021 – 2026: Committee of Avian Brands (2021 – present); 2021 – 2026: (2017 – present);
The Deed of Restatement of Shareholders’ Resolutions • Vice President Director of PT Solusi Rumah Praktis The Deed of Restatement of Shareholders’ Resolutions • Director of PT Multipro Paint Indonesia
in Lieu of the Extraordinary General Meeting of (2024 – present); and in Lieu of the Extraordinary General Meeting of (2021 – present);
Shareholders of Avian Brands No. 19 dated June 22, • Commissioner of PT Tancorp Surya Sentosa Shareholders of Avian Brands No. 19 dated June 22, • Member of the Good Corporate Governance
2021, drawn up before Anwar, S.H., M.Kn., a Notary in (2025 - present). 2021, drawn up before Anwar, S.H., M.Kn., a Notary in Committee of Avian Brands (2021 – present); and
Gresik Regency. Gresik Regency. • Chairman of the Related Party Transaction
Education/Training in 2025 Committee of Avian Brands (2022 – present).
Educational Background and Educational Background and
• Benchmarking with PT Astra International Tbk; Education/Training in 2025
Certifications • Business Acumen by NuPMK Consulting; and
Certifications
Bachelor of Commerce in Information Technology • Benchmarking with PT Bank Central Asia Tbk. Bachelor of Accounting from Airlangga University, -
from Curtin University, Bentley, Australia, in 2006. Surabaya, in 1992.
Affiliation Affiliation
Work Experiences Mr. Robert Christian Tanoko is Avian Brands’
Work Experiences
Mr. Kurnia Hadi Sinanto has no family relationship
• Vice Director of Operations of Avian Brands Shareholder, who shares a familial relationship with • Financial Accounting Manager of Avian Brands with any members of the Board of Commissioners,
(2009 – 2015); Mr. Hermanto Tanoko as President Commissioner, (2006 – 2010); other members of the Board of Directors, or the
• Director of PT Tirtakencana Tatawarna (2014 – 2017); Mr. Wijono Tanoko as President Director, and • Vice Director of Finance and Accounting of Avian Main and Controlling Shareholders, either directly or
• President Commissioner of PT Solusi Rumah Praktis Mr. Ruslan Tanoko as Vice President Director. He is also Brands (2010 – 2016); and indirectly, up to the level of Individual Owner.
(2018 – 2024); and affiliated with the Main and Controlling Shareholder • Corporate Secretary of Avian Brands (2021 – 2022).
• Director of PT Tancorp Surya Sentosa (2015 – 2025). of Avian Brands, namely PT Tancorp Surya Sentosa,
where he serves as a Commissioner. However, he has
Dual Appointments no familial relationship with any other members of
the Board of Commissioners or the Board of Directors.
• Director of PT Avia Avian Industri Pipa
(2014 – present);
• Vice President Director of PT Tirtakencana
Tatawarna (2017 – present);
• Vice President Director of PT Tirtakencana
Batamindo (2017 – present);
• Director of PT Bangun Bersama Solusindo
(2021 – present);
70 2025 Annual Report 2025 Annual Report 71
Page 38
Company Profile PT Avia Avian Tbk
Shareholder Information
Angelica Avian Brands presents the latest information regarding its shareholder structure and composition as part of its commitment to
information disclosure. The presentation of this data reflects Avian Brands’ transparency in strengthening investor confidence and
Tanisia Jozar demonstrates a foundation of ownership that supports Avian Brands’ long-term growth trajectory.
Shareholder Register
Director
December 31, 2025 January 1, 2025
(End of Closing of Stock Trading) (Initial Opening of Stock Trading)
Description Number of Total Nominal Share Number of Total Nominal Share
Shares Value Ownership Shares Value Ownership
Indonesian, 44 years old. (Shares) (IDR) (%) (Shares) (IDR) (%)
5% or more
PT Tancorp Surya
22,674,971,000 226,749,710,000 36.60 22,674,971,000 226,749,710,000 36.60
Sentosa
PT Wahana Lancar
Term of Office and Basis of Dual Appointments Rejeki
20,129,652,900 201,296,529,000 32.49 20,129,652,900 201,296,529,000 32.49
Appointment Archipelago
-
Investment Private 3,902,748,900 39,027,489,000 6.30 3,902,748,900 39,027,489,000 6.30
2022 – 2026: Limited
The Deed of Restatement of Avian Brands’ Meeting Education/Training in 2025
Under 5%
Resolution No. 2 dated September 7, 2022, drawn up
• Sealant Line Product by Saint Gobain; Robert Christian
1,425,406,300 14,254,063,000 2.30 1,425,406,300 14,254,063,000 2.30
before Dr. Susanti, S.H., M.Kn., a Notary in Surabaya Tanoko
• Benchmarking with PT Astra International Tbk;
City.
• CEO of Chaos by Maxwell Leadership; Rudi Tanoko 1,041,265,000 10,412,650,000 1.68 1,041,265,000 10,412,650,000 1.68
Educational Background and • Marine by Mr. Pritesh Vinodkumar Pate; Rony Tanoko 21,999,500 219,995,000 0.04 497,829,300 4,978,293,000 0.80
• Benchmarking with PT Bank Central Asia Tbk; and
Certifications Treasury Stock 2,640,827,200 26,408,272,000 4.26 1,163,449,200 11,634,492,000 1.88
• Emulsion Polymerization by Syensqo.
Public *) 10,116,684,800 101,166,848,000 16.33 11,118,233,000 111,182,330,000 17.95
• Bachelor of Engineering from Parahyangan
Affiliation Total Issued and
Catholic University, Bandung, in 2003; and Paid-Up 61,953,555,600 619,535,556,000 100.00 61,953,555,600 619,535,556,000 100.00
• Professional Engineer from Parahyangan Catholic Capital
Mrs. Angelica Tanisia Jozar has no family relationship
University, Bandung in 2021. *)
Including shares owned by Mr. Wijono Tanoko, Mr. Kurnia Hadi Sinanto, and Mrs. Angelica Tanisia Jozar.
with any members of the Board of Commissioners,
other members of the Board of Directors, or the
Work Experiences Avian Brands’ Shareholding Structure
Main and Controlling Shareholders, either directly or
As of December 31, 2025
• Head of Production of PT Tiga Arga (2003 – 2010); indirectly, up to the level of Individual Owner.
• Research & Development Manager, Trade
Unit Division of PT Nipsea Paint & Chemicals 16.33%
36.60%
(2010 – 2018); and
• Research, Development & Innovation Director of 2.30%
Avian Brands (2018 – 2022). 0.04%
1.68%
4.26%
6.30%
Change in the Composition of Members of the Board of Directors and
Reason for the Change
32.49%
In 2025, there was no change in the composition of Avian Brands’ Board of Directors. The composition of the current Board of
Directors is in accordance with the relevant regulations related to Avian Brands’ business activities. This steady composition
reflects the continuity of strong leadership as well as Avian Brands’ commitment to maintaining stability and continuity in PT Tancorp Surya Sentosa PT Wahana Lancar Rejeki Archipelago Investment Private Limited
strategic decision-making. Robert Christian Tanoko Rudi Tanoko Rony Tanoko
Treasury Stock Public
72 2025 Annual Report 2025 Annual Report 73
Page 39
Company Profile PT Avia Avian Tbk
Composition of Share Ownership by Members of
the Board of Commissioners and the Board of Directors Main and Controlling Shareholders
December 31, 2025 January 1, 2025
(End of Closing of Stock (Initial Opening of Stock Neilson Audrey Caleb
Ruslan Rudi Rony Hermanto Lilyani Muliawati
Trading) Trading) Ownership Tanoko
Fritz
Tanoko
Reis
Tanoko
Royce
Tanoko Tanoko Tanoko
Name Position Tanoko Tanoko Tanoko
Number of Share Number of Share Status
Shares Ownership Shares Ownership 99.995% 0.005% 99.997% 0.003% 99.999% 0.001% 82.72% 99.86% 70.00%
(Shares) (%) (Shares) (%)
The Board of Commissioners PT Sensasi
PT Asiapasifik PT Jaya Robert
Belinda
Marvin
Rekacipta Sentosa Christian Aditya
President Istana Warna Natalia
Hermanto Tanoko 0 0 0 0 - Teknik Lancarabadi Tanoko Pranoto
Commissioner PT Vista
33.33% 33.33% 33.33% 4.32% 4.32% 10.00% Maria
Sentral
Mohammad Noor Independent Lavetta
0 0 0 0 - Harmoni
Rachman Soejoeti Commissioner
Caroline 0.14% Marcel 10.00%
Oscar Christian Melisa
Independent Lim Lie Wijono PT Rukun Novilia Satya
Maria Jozef 0 0 0 0 - Patricia
Commissioner Tjijen Tanoko Rimpah Rejeki Tanoko Pramono
Wezenbeek*)
4.32% 4.32% 10.00%
1.54% 50.44% 48.03%
The Board of Directors
Wijono Tanoko President Director 2,504,200 0.00 2,504,200 0.00 Direct
Minister for
PT Sinar Surya PT Marco
Indirectly through Finance,
Vice President Sarana Sukses Mega Mulia
Ruslan Tanoko 153,251,300 0.25 37,724,500 0.06 PT Sensasi Singapore
Director
Istana Warna 100.00% 50.00% 50.00%
Robert Christian
Director 1,425,406,300 2.30 1,425,406,300 2.30 Direct
Tanoko
PT Tancorp
Kurnia Hadi PT Wira Laju PT Sensasi GIC (Ventures) PT Voka
Director 782,500 0.00 651,600 0.00 Direct Global
Sinanto Rejeki Istana Warna Pte Ltd Nobelindo
Sentosa
Angelica Tanisia 73.56% 26.44% 100.00% 69.39% 30.61%
Director 311,300 0.00 222,400 0.00 Direct
Jozar
*)
Effectively in office as an Independent Commissioner, based on the resolution of Avian Brands’ Extraordinary General Meeting of Shareholders dated April 10, 2025
Archipelago Robert
Rudi Rony PT Wahana PT Tancorp Treasury
Investment Christian Public
Tanoko Tanoko Lancar Rejeki Surya Sentosa Stock
Pte Ltd Tanoko
Share Ownership by Classifications 1.68% 0.04% 32.49% 6.30% 36.60% 2.30% 4.26% 16.33%
December 31, 2025 January 1, 2025
(End of Closing of Stock Trading) (Initial Opening of Stock Trading) PT Avia Avian Tbk
Description Number of Share Number of Share
Total Total
Shares Ownership Shares Ownership Based on the share ownership structure of Avian Brands as mentioned above, the Main and Controlling Shareholders of Avian
Investor Investor
(Shares) (%) (Shares) (%)
Brands are PT Wahana Lancar Rejeki and PT Tancorp Surya Sentosa. Meanwhile, the ultimate beneficial owners of Avian Brands
National Investor are Wijono Tanoko, Hermanto Tanoko, and Ruslan Tanoko.
Indonesian Individual 13,262 3,249,275,772 5.24 15,371 4,115,116,372 6.64
Limited Company 50 46,953,476,375 75.79 83 45,640,469,594 73.67
Mutual Fund 39 255,983,595 0.41 0 0 0
Insurance 33 111,748,900 0.18 12 120,484,900 0.20
Foundation 19 52,158,600 0.08 11 53,999,000 0.09
Cooperative 2 711,300 0.00 0 0 0
Others 0 0 0 1 353,100 0.00
Foreign Investor
Foreign Individual 11 179,200 0.00 12 2,879,200 0.00
Foreign Corporation 175 11,330,021,858 18.29 149 12,020,253,434 19.40
Total 13,591 61,953,555,600 100.00 15,639 61,953,555,600 100.00
74 2025 Annual Report 2025 Annual Report 75
Page 40
Company Profile PT Avia Avian Tbk
Chronology of Share Listing
The inclusion of Avian Brands in the DES reflects its commitment to implementing business practices aligned with ethical
values and compliance with Sharia principles across its business activities, financial structure, and risk management. This status
not only expands Avian Brands’ access to a broader investor base, particularly those focused on Sharia-compliant financial
instruments, but also reinforces its reputation for upholding integrity and responsible governance.
On December 8, 2021, Avian Brands officially listed its shares on the Indonesia Stock Exchange (“IDX”) with stock code The determination of Avian Brands’ shares registered in • products or services that can deprave one’s
AVIA after obtaining an effective statement from the Board of Commissioners of the Financial Services Authority pursuant the DES is done by the OJK, i.e., inclusion in the category morals and are harmful (mudarat); and/or
to Letter No. S-223/D.04/2021 dated November 30, 2021. In connection with the Initial Public Offering (“IPO”), Avian Brands of securities in the form of shares issued by Avian Brands • other products or services that conflict with
issued 6,200,000,000 new shares, representing approximately 10.0075% of the total issued and fully paid-up capital, with that does not set out the activities and types of business, sharia principles based on the stipulation of
a nominal value of IDR10 per share and an offering price of IDR930 per share. In alignment with this corporate action, Avian administration processes, and/or the services it provides the National Sharia Board – Indonesian Ulema
Brands also allocated 3,099,300 shares, or approximately 0.05% of the total shares offered, to implement the Employee Stock based on Sharia Principles in the Capital Market, as long as Council; and
Allocation (“ESA”) program. This initiative reflects Avian Brands’ efforts to provide appreciation and encourage active employee Avian Brands: e. conducting other activities that are contrary to
participation in the Company’s future growth and success. 1. does not conduct any activities or types of business that sharia principles based on the stipulation of the
are contrary to Sharia Principles in the Capital Market, National Sharia Board – Indonesian Ulema Council;
In addition to the IPO, on the same day, a Limited Offering was conducted by the Selling Shareholders in the form of a Private including: 2. does not conduct any transactions that are contrary to
Placement of 5,575,355,600 registered common shares, or approximately 10.00% of the total issued and fully paid-up capital. a. gambling and games considered as gambling; Sharia Principles in the Capital Market; and
This offering was executed at the same price as the IPO and was simultaneously listed on the Indonesia Stock Exchange. b. ribawi financial services; 3. fulfils the following financial ratios:
Consequently, the total shares of Avian Brands listed on the IDX at that time reached 61,953,555,600 shares with a nominal c. buying and selling of risks that involve speculation a. the ratio of interest-based liabilities to total assets is
value of IDR10 per share. This strategic move strengthened Avian Brands’ investor base and enhanced share liquidity in the (gharar) and/or gambling (maisir); not more than 45%; and
market, while simultaneously reflecting investor confidence in the Company’s fundamentals and long-term growth prospects. d. producing, distributing, trading, and/or providing: b. the ratio of interest income and other non-islamic
• products or services that are forbidden because income to total operating income and other income
As part of its capital management strategy and commitment to enhancing Shareholder value, on December 7, 2023, Avian of its contents (haram li-dzatihi); is not more than 10%.
Brands announced a share buyback program for shares issued and listed on the IDX, for a maximum of 1,425,000,000 shares, • products or services that are forbidden not
or approximately 2.3% of the issued and fully paid-up capital. Furthermore, on April 10, 2025, Avian Brands announced because of its contents (haram li-ghairi),
a subsequent buyback action, involving the buyback of 1,425,000,000 shares issued and listed on the IDX, or approximately determined by the National Sharia Board –
2.3% of the issued and fully paid-up capital. As of December 31, 2025, Avian Brands has realized the buyback of 2,640,827,200 Indonesian Ulema Council;
shares through the Indonesia Stock Exchange. With the execution of these corporate actions, the number of outstanding
shares of Avian Brands decreased to 59,312,728,400 shares from 61,953,555,600 shares prior to the buyback implementation. The inclusion of Avian Brands’ shares in the DES provides ease for investors, as the investments made can be guaranteed halal
and free of riba. In addition, investors are also given the freedom to conduct transactions in Avian Brands’ shares, as they may
be undertaken on conventional exchanges and sharia exchanges.
Total Shares
Total Shares
Subject to Nominal Offer Price Stock
Corporate Action Exercise Date Outstanding
Corporate Value (IDR) (IDR) Exchange
(Shares)
Actions (Shares)
6,200,000,000
Company’s Stock Index
Initial Public Offering
ESA Program December 8, 2021 3,099,300 10 930 61,953,555,600
Indonesia
Private Placement 5,575,355,600 Stock
Exchange
Share Buyback December 31, 2024 1,163,449,200 0 0 60,790,106,400
Share Buyback December 31, 2025 2,640,827,200 0 0 59,312,728,400 A stock index serves as a statistical indicator used to represent As of the end of 2025, Avian Brands’ shares are listed as
the performance of a selected group of stocks within the constituents in various prestigious indices on the IDX,
capital market. These indices may comprise stocks across including ESGQKEHATI, ESGSKEHATI, IDXBASIC, IDXESGL,
various sectors or those sharing specific characteristics, such IDXQ30, IDXSMC–COM, IDXSMC–LIQ, IDX80, ISSI, JII70,
as liquidity levels, market capitalization, or sustainability KOMPAS 100, MBX, MNC36, PEFINDO25, and SRI-KEHATI.
criteria. The primary function of a stock index is to provide Beyond the Indonesia Stock Exchange indices, Avian Brands
a comprehensive overview of market dynamics and trends, is also included in the MSCI Small Cap Index and FTSE
Sharia Securities whether general or within specific sectors and themes,
thereby serving as a vital benchmark for investors and market
Russell, two leading global indices that evaluate company
performance based on fundamental aspects, governance,
participants in making investment decisions. and the implementation of sustainability (ESG) principles.
Since the end of 2021, Avian Brands’ shares listed and traded on the IDX have been declared to meet the criteria for Avian Brands’ inclusion in the ESGQKEHATI, SRI-KEHATI, and ESGSKEHATI indices reflects its commitment to implementing
Sharia-compliant equity securities, pursuant to the determination by the OJK With this achievement, Avian Brands’ shares are ESG principles as part of a sustainable business strategy. Meanwhile, its listing in the JII70 and ISSI indices underscores Avian
officially included in the List of Sharia Securities (Daftar Efek Syariah or “DES”), a list of securities that have undergone review Brands’ status as a Sharia-compliant security that meets Islamic financial principles and is categorized among the most liquid
and are declared to be consistent with Sharia principles in the capital market. in its segment.
76 2025 Annual Report 2025 Annual Report 77
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Company Profile PT Avia Avian Tbk
Subsidiaries, Associates, and
Furthermore, the inclusion of Avian Brands in the IDX80 and KOMPAS100 indices signifies recognition of its fundamental
strength, solid market capitalization, and high trading liquidity. Membership in the IDXQ30 reinforces Avian Brands’ image as
Joint Ventures
an issuer with superior financial performance, evidenced by high profitability, healthy solvency levels, and consistent earnings
growth. Additionally, the IDXSMC-LIQ index reflects Avian Brands’ position as an actively traded small-to-medium cap issuer,
while its presence in the PEFINDO25 and IDXESGL indices highlights its reputation as a high-prospect issuer with credible
governance.
As of the end of 2025, Avian Brands holds 3 direct Subsidiaries, 1 indirect Subsidiary, 1 joint venture company, and other
Through these achievements, Avian Brands not only demonstrates its competitiveness in the capital market but also showcases participations in the form of equity investments. This structure reflects a focused expansion strategy aimed at strengthening
its consistency in maintaining quality, governance, and sustainable performance as part of its long-term commitment to business diversification, enhancing operational synergies, and broadening market reach. Further information regarding Avian
stakeholders. Brands’ Subsidiaries, joint venture companies, and other investments is outlined as follows:
Direct Ownership
PT Tirtakencana Tatawarna
Legal Basis of Establishment Business Sector Operational Status
Chronology of the Other Securities Listing Deed of Establishment No. 27, dated
July 14, 2000, drawn up before Dyah Ambarwaty
Wholesale trade of paints, warehousing and
storage, and self-owned or leased Operating
Setyoso, S.H., a Notary in Surabaya. real estate.
Address Share Ownership Total Assets Before Elimination
Until the end of 2025, Avian Brands has not issued any other securities, such as bonds, sukuk, convertible bonds, or other Jl. Raya Surabaya – Sidoarjo KM. 19,
securities that are justified in accordance with the laws and regulations. Desa Wadungasih, Kec. Buduran, 99.99% IDR4,671,581 million
Kab. Sidoarjo, Jawa Timur.
PT Solusi Rumah Praktis
Corporate Structure
Legal Basis of Establishment Business Sector Operational Status
Deed of Establishment No. 17, dated
Retail trade of paints, varnishes, and
November 22, 2018, drawn up before Operating
Lacquers, as well as painting.
Anwar, S.H., M.Kn., a Notary in Gresik Regency.
Address Share Ownership Total Assets Before Elimination
PT Avia Avian Tbk
Avian Brands Building
Jl. Ahmad Yani No. 317,
99.99% IDR678 million
Kel. Dukuh Menanggal, Kec. Gayungan,
Kota Surabaya, Jawa Timur.
50.00% 99.99% 99.99% 67.00% 16.67%
PT Bangun Bersama PT Tirtakencana PT Solusi Rumah PT Multipro Paint
PT Dextone Lemindo PT Multipro Paint Indonesia
Solusindo Tatawarna Praktis Indonesia
Legal Basis of Establishment Business Sector Operational Status
99.98%
Paint and printing ink industry, varnish
Deed of Establishment No. 80, dated
PT Tirtakencana industry (including mastics), wholesale Not operating since
August 27, 2008, drawn up before
Batamindo trade of paints, and wholesale trade of December 22, 2025
David, S.H., M.Kn., a Notary in Jakarta.
various building materials.
Avian Brands’ corporate structure reflects an integrative strategy aimed at strengthening the business ecosystem. Through Address Share Ownership Total Assets Before Elimination
ownership in numerous Subsidiaries, joint venture companies, and other investments, Avian Brands fosters cross-sector Menara Satu Sentra
synergies that are mutually reinforcing—ranging from distribution and complementary products to home solution services. Kelapa Gading 7th Floor, Room 6,
Jl. Boulevard Kelapa Gading LA 3 No. 1, 67.00% IDR16,910 million
This structure supports operational efficiency while simultaneously expanding market reach, thereby reinforcing Avian Brands’ Kel. Kelapa Gading Timur, Kec. Kelapa Gading,
position as a leader in the national paint industry. Jakarta Utara, DKI Jakarta, Indonesia.
78 2025 Annual Report 2025 Annual Report 79
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Company Profile PT Avia Avian Tbk
Indirect Ownership
Capital Market Supporting Institutions
PT Tirtakencana Batamindo (through PT Tirtakencana Tatawarna)
Legal Basis of Establishment Business Sector Operational Status
and Professions
Wholesale trade of various building
Deed of Establishment No. 58, dated
materials, wholesale trade of other Avian Brands engages various capital market supporting institutions and professionals to support regulatory compliance and
September 30, 2010, drawn up before Rusdi Operating
construction materials, and retail trade of ensure transparency and accountability as a public company. This collaboration includes the services of independent auditors,
Mulyono, S.H., M.Kn., a Notary in Surabaya.
furniture.
notaries, and securities administration bureaus, all of which play a vital role in maintaining the integrity and seamless execution
Address Share Ownership Total Assets Before Elimination
of Avian Brands’ corporate activities within the capital market.
Komplek Executive Industrial Park Blok D2 No. 8,
Kel. Belian, Kec. Batam Kota, 99.98% IDR39.074 million
Kota Batam, Kepulauan Riau, Indonesia. Public Accounting Firm
Public Accounting Firm Services Provided:
Teramihardja, Pradhono & Chandra Audit Services :
Joint-Venture (a member firm of Crowe Global) Performed an audit of Avian Brands’ Consolidated Annual Financial Statements for the financial
AXA Tower 27th Floor, Suite 03 year ended December 31, 2025, based on auditing standards established by the Indonesian
Jl. Prof. Dr. Satrio Kav. 18 Institute of Certified Public Accountants.
PT Bangun Bersama Solusindo Jakarta, 12940, Indonesia
T: (62-21) 3005 6267 Non-Audit Services :
Legal Basis of Establishment Business Sector Operational Status F: (62-21) 3005 6269 None
Wholesale trade of cement, lime, sand, and Assignment Period:
Deed of Establishment No. 1, dated February 1, 2025
stone as construction materials, building
2021, drawn up before Emmyra Fauzia Kariana, Operating Cost (IDR):
materials, as well as basic or industrial
S.H., M.Kn., a Notary in Jakarta. Audit Services : IDR770,000,000,-
chemical materials and goods.
Non-Audit Services : None
Address Share Ownership Total Assets
Sequis Tower Level 15,
Jl. Jenderal Sudirman Kav. 71, Kel. Senayan, Notary
50.00% IDR51,115 million
Kec. Kebayoran Baru, Kota Adm. Jakarta Selatan,
DKI Jakarta, Indonesia. Dr. Susanti, S.H., M.Kn. Services Provided:
Ruko Office Park 1 Prepared the deed of Minutes of the Annual and Extraordinary General Meeting of Shareholders
Jl. Bukit Darmo Golf Blok B1 No. 19 (“GMS”) for the financial year of 2025.
Kel. Pradahkalikendal, Kec. Dukuh Pakis Assignment Period:
Other Equity Investments Surabaya, 60226, Indonesia 2025
T: (62-31) 9914 6264
PT Dextone Lemindo
Biro Administrasi Efek
Legal Basis of Establishment Business Sector Operational Status
Deed of Establishment No. 30, dated PT Bima Registra Services Provided:
February 20, 2002, drawn up before Raden Adhesive/glue industry. Operating Satrio Tower, 9 A2 Floor 1. Performed data maintenance, prepared presentation of the Shareholders Register (Daftar
Johanes Sarwono, S.H., a Notary in Jakarta. Jl. Prof. DR. Satrio Blok C4 Pemegang Saham or “DPS”), and monthly reports;
Kuningan, Setiabudi 2. Assisted in the organization of the Annual and Extraordinary GMS in the context of the
Address Share Ownership Total Assets Jakarta Selatan, Indonesia presentation of DPS per recording date, attendance list, and assisted in the vote count at the
Ko. Pergudangan Nusa Indah No. 37 B, T: (62-21) 2598 4818 GMS; and
Kel. Jurumudi, Kec. Benda, Kota Tangerang, 16.67% IDR490.628 million F: (62-21) 2598 4819 3. Assisted in the implementation of final dividend payments in the context of the presentation
Banten, Indonesia. of DPS per recording date, as well as calculating the amounts of dividends and taxes for each
Shareholder
Assignment Period:
January 1, 2025 – August 22, 2025
PT Raya Saham Registra Services Provided:
Plaza Sentral Building, 2nd Floor 1. Performed data maintenance, prepared presentation of DPS, and monthly reports; and
Jl. Jend. Sudirman Kav. 47 – 48 2. Assisted in the implementation of interim dividend payments in the context of the presentation
Jakarta Selatan 12930, Indonesia of DPS per recording date, as well as calculating the amounts of dividends and taxes for each
T: (62-21) 2525 666 Shareholder.
F: (62-21) 2525 028 Assignment Period:
August 23, 2025 – December 31, 2025
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Company Profile PT Avia Avian Tbk
Information Access
By placing Human Resources development as a top priority, Avian Brands is optimistic that its competitiveness and resilience
will be further strengthened, while simultaneously preparing the organization to grow and face future challenges in
an adaptive and sustainable manner.
Avian Brands consistently affirms its commitment to providing transparent, accurate, and timely access to information for
all Shareholders and other stakeholders. To ensure information disclosure, the functions of managing and updating this Organizational Structure of HR Management
information are executed in a synergic copperation between the Corporate Secretary and the Investor Relations Department, The organizational structure governing human resources To support these functions, HRGA comprises several
in accordance with the dynamics of the prevailing communication and regulatory requirements. This approach aims not only at Avian Brands is coordinated under the Human Resources integrated functional sub-units. The People Development
to fulfill the principles of transparency but also to build trust and strengthen constructive long-term relationships between and General Affairs (“HRGA”) Division. This division sub-unit is responsible for enhancing employee capacity
Avian Brands and its stakeholders. Information regarding Avian Brands can be accessed through the following channels: plays a strategic role in ensuring that Human Resources and competence through various training and development
management is conducted efficiently, adaptively, and in programs. Organization Development plays a role in
alignment with the Vision and Mission of Avian Brands. structuring an organization that is adaptive to business
HRGA performs more than just administrative functions; dynamics. Recruitment ensures that employee selection
it actively shapes a work culture that supports sustainable processes are objective and targeted, while Personnel
performance and organizational growth. Administration handles the administrative aspects of
employment.
(62-31) Additionally, the General Affairs unit manages operational needs and work facilities, Industrial Relations fosters harmonious
Avian Brands 99850500/99850600 industrial relations, and the Human Resource Information System (“HRIS”) supports digital transformation in Human Resources
Building data management. The Human Resource Business Partner unit further serves to bridge business requirements with Human
Jl. Ahmad Yani No. 317 www.avianbrands.com Resources management strategies across all working units. Detailed information regarding Avian Brands’ Human Resources
Surabaya, 60234 management organizational structure is outlined as follows:
Jawa Timur,
Indonesia corsec@avianbrands.com
investor.relations@avianbrands.com HRGA
POD & Recruitment HR Operations
People Organization HR System & Personnel Industrial HR Business
Culture Recruitment General Affair
Human Resources
Development Development Administration Relation Partner
HR Development
Human Resources (“HR”) constitutes the strategic foundation for Avian Brands in driving sustainable performance and
realizing its long-term vision. Avian Brands understands that organizational success is not solely determined by strategies and Avian Brands consistently positions Human Resources development as a strategic pillar to support long-term growth and
systems, but is underpinned by the quality, competence, and dedication of every individual within the Company. Consequently, create a sustainable competitive advantage. This commitment is reflected in the consistent allocation of resources aimed at
Human Resources management is conducted in a planned and comprehensive manner, guided by prevailing labor regulations strengthening internal capabilities through various training programs, professional development, and skills enhancement
and industry best practices. tailored to the requirements of each job level. These initiatives are executed through several mechanisms, such as classroom
training, workshops, online training and webinars, on-the-job training, and corporate benchmarking.
As part of its commitment to fostering a healthy, productive, and inclusive work environment, Avian Brands develops various
strategic initiatives encompassing continuous training and competence development programs, employee welfare policies, The focus of development is not limited to enhancing technical competencies but also encompasses the strengthening of
and support for work-life balance. These programs are meticulously designed to empower employees to achieve their full non-technical capacities to foster a team that is adaptive, collaborative, and performance-oriented. Through this approach,
potential and provide maximum contribution toward the growth of Avian Brands. Avian Brands builds a more resilient organizational foundation prepared to address industry dynamics, while simultaneously
creating a work environment that encourages holistic individual and organizational growth. In general, the Human Resources
Furthermore, Avian Brands consistently upholds the principles of equality and non-discrimination, ensuring that all employees development realized by Avian Brands for the year 2025 is outlined as follows:
receive fair treatment regardless of background, gender, religion, or social status. Avian Brands believes that diversity is
a strength that fosters a high level of innovation, critical thinking, and team synergy. Therefore, an inclusive work culture is
continually cultivated to create a collaborative space that encourages mutual respect and active engagement.
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Company Profile PT Avia Avian Tbk
Throughout 2025, Avian Brands and its Subsidiaries recruited a total of 146 new employees placed in various strategic positions.
Talent Management and Planning System Of this total, Avian Brands recruited 103 employees and TKTW recruited 43 employees. These figures reflect Avian Brands’
commitment to strengthening organizational capabilities by acquiring competent talent aligned with evolving business needs.
A process designed by Avian Brands to manage, develop, and maximize HR potential, both for present
and future needs. With a carefully planned approach, this system ensures optimal contributions
from each employee while preparing for upcoming challenges, thereby supporting the sustainable
HR Composition
achievement of Avian Brands’ objectives.
By the end of 2025, the number of employees of Avian Brands and its Subsidiaries (including outsourced employees)
totaled 9,397 individuals, an increase of 0.12% compared to 9,386 individuals in 2024. Detailed composition of employees of
Avian Brands and the Subsidiaries is presented below:
Corporate Culture Infiltration and Campaigns
Corporate culture infiltration and campaigns are designed to reinforce the implementation of core 2025 2024
values and shared practices across operations. A strong corporate culture lays the foundation for Category Avian Subsidiary Avian Subsidiary
employees’ mindset and behavior, while simultaneously solidifying Avian Brands’ image in the public Brands TKTW TKBI SRP BBS MPI Brands TKTW TKBI SRP BBS*) MPI
eye. Through a systematic approach and continuous campaigns, these values are integrated into every
Number of Employees by Gender
aspect of operations, creating harmony between Avian Brands’ Vision, employee conduct, and external
perceptions. Male 1,588 5,589 36 0 5 3 1,583 5,593 37 1 5 44
Female 237 1,924 9 0 3 3 239 1,860 10 0 3 11
Total 1,825 7,513 45 0 8 6 1,822 7,453 47 1 8 55
Employer Branding Program
Number of Employees by Position
Board of
A strategy to build and maintain Avian Brands’ reputation as an excellent employer. This program aims 5 1 0 0 1 0 5 1 0 1 1 1
Directors**)
to attract potential job seekers, retain existing employees’ loyalty, and reinforce positive perceptions Deputy Director 5 12 0 0 1 3 5 12 0 0 1 1
among key stakeholders. Through a well-planned and sustainable approach, Avian Brands is able to Manager 65 189 1 0 4 1 68 188 1 0 4 6
showcase its values, work culture, and competitive advantages, thereby strengthening its image as an
Supervisor 142 575 3 0 1 1 131 588 3 0 1 5
ideal and reliable workplace.
Staff 404 233 0 0 1 1 424 237 0 0 1 32
Outsourcing 1,204 6,503 41 0 0 0 1,189 6,427 43 0 0 10
Total 1,825 7,513 45 0 8 6 1,822 7,453 47 1 8 55
HR Recruitment Number of Employees by Age
18 – 24 Years Old 306 1,119 7 0 0 0 348 1,246 8 0 0 2
Human Resources recruitment serves as the primary foundation for ensuring organizational continuity and regeneration. 25 – 34 Years Old 947 3,975 19 0 1 1 943 3,884 22 0 1 30
As an initial step in building a long-term competitive advantage, the recruitment process at Avian Brands is strategically 35 – 44 Years Old 316 1,992 13 0 2 2 301 1,933 12 1 2 8
designed to attract top talent who not only meet Avian Brands’ specific requirements, but are also aligned with the core values 45 – 54 Years Old 221 387 6 0 4 2 198 355 5 0 4 12
upheld by Avian Brands. Through a rigorous and structured selection process, Avian Brands ensures that every individual > 55 Years Old 35 40 0 0 1 1 32 35 0 0 1 3
joining the organization possesses the potential to contribute sustainably to its growth. Total 1,825 7,513 45 0 8 6 1,822 7,453 47 1 8 55
Number of Employees by Education
As part of a measurable planning process, Avian Brands establishes manpower planning at the end of each year to map out Master Degree 30 11 0 0 2 0 20 13 0 0 2 0
labor requirements for the following year. In its implementation, Avian Brands adopts two approaches: internal and external Bachelor
344 1,641 7 0 5 1 329 1,595 6 1 5 25
recruitment. Through internal recruitment, Avian Brands provides career development opportunities for employees through Degree
promotions, rotations, and cross-functional transfers. This process involves mapping competency fit against the requirements Diploma (D3) 25 297 0 0 0 5 22 300 0 0 0 6
of the position to be filled. Internal selection is generally focused on fulfilling higher-level roles while ensuring the continuity ≤High School
1,426 5,564 38 0 1 0 1,451 5,545 41 0 1 24
of the internal talent pipeline. Throughout 2025, a total of 22 positions were successfully filled through this internal selection and Equivalent
process. Meanwhile, external recruitment is conducted to reach candidates from outside the organization who possess fresh Total 1,825 7,513 45 0 8 6 1,822 7,453 47 1 8 55
expertise and perspectives needed to enrich the team’s diversity of competencies. External recruitment is conducted through Number of Employees by Employment Status
various channels, such as job fairs, collaborations with higher education institutions, and the utilization of online recruitment Permanent
506 779 4 0 7 2 537 842 4 1 7 33
Employee
portals.
Non-Permanent
115 231 0 0 1 4 96 184 0 0 1 12
Employee
To support efficiency and integration of the recruitment process, Avian Brands optimally leverages digital technology. Outsourcing 1,204 6,503 41 0 0 0 1,189 6,427 43 0 0 10
Its online-based recruitment system enables end-to-end recruitment management, from vacancy publication and applicant Total 1,825 7,513 45 0 8 6 1,822 7,453 47 1 8 55
database management to initial screening, online testing, and virtual interviews. Furthermore, during the filtering, analysis, and *)
Data restated.
reporting stages of selection results, Avian Brands has utilized Artificial Intelligence (“AI”) technology to accelerate the selection **)
Calculation on the number of members of the Board of Directors of the Subsidiaries is not done separately, in order to avoid double-
counting. Members of the Board of Directors serving in Avian Brands are not double counted for their dual positions in the Subsidiaries,
process based on Indi 4.0. This digital and AI-driven recruitment approach not only expedites the process but also expands therefore, this table contains members of the Board of Directors of the Subsidiaries that are recorded as “0” or “1”. This reflects the
candidate access across various regions without geographical barriers. Avian Brands conducts the entire recruitment process existence of the members of the Board of Directors in the Subsidiaries, but administratively the calculation is being done at Avian Brands
as the Parent Entity.
transparently, free of charge, and without discrimination based on ethnicity, religion, race, gender, or political background. Notes: SRP : PT Solusi Rumah Praktis
This commitment is an essential part of Avian Brands’ efforts to build an inclusive and accountable selection process. TKTW : PT Tirtakencana Tatawarna BBS : PT Bangun Bersama Solusindo
TKBI : PT Tirtakencana Batamindo MPI : PT Multipro Paint Indonesia
Competence Development
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Company Profile PT Avia Avian Tbk
Competence development serves as the strategic foundation for HR management at Avian Brands. Amidst business
expansion and evolving industry dynamics, enhancing individual capabilities has become a crucial aspect of ensuring that
every employee is equipped to contribute optimally toward the achievement of Avian Brands’ Vision, Mission, and targets.
Consequently, Avian Brands, along with all its Subsidiaries, consistently executes comprehensive and sustainable competence
development programs. These programs encompass basic, technical, and functional competence improvements designed to
meet the specific requirements of each business unit, thereby fostering operational effectiveness and organizational resilience
in facing industrial challenges.
The implementation of competence development programs at Avian Brands is not solely focused on productivity, but also
directed toward fostering a culture of continuous learning. This enables employees to adapt to technological advancements,
regulatory shifts, and global best practices. Through this approach, Avian Brands strives to build a workforce that not only
excels operationally, but also innovative and resilient in responding to complex and rapidly changing business dynamics.
To ensure training quality and relevance, Avian Brands conducts a measurement process for competence development by Avian Brands regards Human Resources management as
implementing minimum training hour standards for every employee, alongside specific assignments to ensure the practical a fundamental aspect in supporting its sustainability and
implementation of each completed training session. Avian Brands integrates the use of internal resources with collaborations excellence This commitment is reflected not only through
involving external partners who possess established credibility and expertise in their respective fields. This cooperation employee competence development programs but also
provides employees with access to training based on the latest industry standards and relevant global practices. Furthermore, through ongoing initiatives to refine the Human Resources
all programs are designed with inclusivity principles, ensuring that every employee receives equal opportunities for competence management system holistically. Avian Brands proactively
development in accordance with their career paths and professional needs. conducts in-depth analyses and periodic evaluations of
implemented Human Resources policies, processes, and
Throughout 2025, Avian Brands and its Subsidiaries enrolled a total of 58,889 participants in 384 competence development practices to ensure alignment with the evolving needs
programs. Further details are described as follows: of the organization and increasingly complex industry
dynamics.
Type of Number of Number of
Appointment
Competence Target of Competence Number of Competence Competence
of Updates and refinements to the system
Development Development Participants*) Development Development
Participants
Program (Program) Hours (Hours) are carried out systematically, taking into account changes in the business environment, labor regulations,
To polish skills and teach and emerging best practices in talent management. Through this approach, Avian Brands strives to build
Basic Competence
norms to support employees Staff – Deputy
13,391 162 22,120.50
a Human Resources management system that is adaptive, measurable, and integrated with its long-term business strategy.
in implementing of their Director All such efforts are directed toward creating a work ecosystem that supports sustainable organizational growth and individual
duties and responsibilities.
development, ensuring that the role of Human Resources as the primary driver in achieving Avian Brands’ Vision and Mission
To certify and improve skills is optimally realized.
Technical Staff – Deputy
that can support the work of 45,498 222 58,294.00
Competence Director
employees.
Throughout 2025, Avian Brands conducted a review of the effectiveness of its Standard Operating Procedures (“SOP”), covering
*)
Each employee may participate in more than one competence development program.
a total of 5 SOPs and 17 forms.
Total Hours of Avian Brands’ Employee Competence Development Based on Program Type
Complaint Management
Avian Brands positions healthy, open, and mutually respectful working relationships as a primary pillar in creating a productive
27.51% and sustainable work environment. This commitment is reflected in Avian Brands’ efforts to foster constructive communication
between management and all employees, as well as promote a harmonious working climate among individuals within the
organization. To strengthen these industrial relations, Avian Brands has established a structured, transparent, and responsive
employee complaint management system to serve as a medium for channeling aspirations, criticisms, and issues faced by
employees in their daily work.
This system provides two flexible reporting channels: direct verbal dialogue with supervisors or the completion of survey forms
72.49% available both online and offline, including suggestion boxes placed in strategic areas. Every incoming complaint is processed
seriously, beginning with handling by the immediate supervisor and, if necessary, followed up by a Special Complaint Team
established to address more complex and cross-functional issues.
Basic Competence Technical Competence
Standardization of HR Management
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Company Profile PT Avia Avian Tbk
If a complaint remains unresolved at the initial stage, an escalation process is conducted through the Bipartite Cooperation
2025*) 2024*)
Institution (Lembaga Kerja Sama or “LKS”) and involves Top Management to formulate fair and constructive solutions. This
approach is designed to ensure that every employee’s voice is valued, every issue is resolved fairly, and every corrective action Source Percentage Percentage
Total Total
is taken with careful consideration. Through this mechanism, Avian Brands reinforces the foundation of healthy industrial (%) (%)
relations and builds mutual trust, representing a tangible manifestation of its concern for employee welfare and the creation Retirement 0 0.00 5 2.25
of a safe, inclusive, and collaborative work atmosphere. Resignation 135 60.81 97 43.69
Termination of Employment 61 27.48 82 36.94
Throughout 2025, Avian Brands conducted one employee complaint survey, with 69 respondents participating in the survey.
Employment Status Change 26 11.71 38 17.12
In addition to the complaint survey, Avian Brands also conducted employee satisfaction surveys regarding the services of the
Human Resources Department twice during 2025, with the following results: Deceased 0 0.00 0 0
Total Employee Turnover 222 100.00 222 100.00
*)
The measurement of the employee turnover rate above includes permanent employees of Avian Brands and its Subsidiaries. Avian Brands does not measure the
turnover rate for outsourced employees, given the high fluctuation of outsourced employees depending on the increase or decrease in total production.
Employee Performance Evaluation
Total Percentage
of Service 58.00% Employee performance evaluation is a fundamental component of Avian Brands’ human capital management system,
Satisfaction designed to ensure that every individual fulfills their roles and responsibilities optimally and professionally. Performance
Score (Complaint assessments are conducted based on the achievement of predefined targets, considering the relevance between performance
Management) indicators and the competencies required for each respective position. This assessment does not solely focus on quantitative
28.90% outputs but also accounts for the quality of contribution, team collaboration, and effectiveness in executing daily responsibilities.
The evaluation process is carried out periodically and in a structured manner, serving as a medium to reflect on work
11.62% achievements while charting future development steps. Within this process, constructive feedback is provided transparently
Category Percentage (%) 1.48% 0% to assist employees in understanding the strengths to be optimized and the areas requiring improvement. By facilitating
open two-way dialogue, Avian Brands not only fosters an accountable work culture but also encourages a spirit of continuous
Very Satisfied Satisfied Slightly Satisfied Dissatisified Very Dissatisfied improvement.
Through this fair and development-oriented evaluation system, Avian Brands is committed to creating an empowering work
environment that supports individual growth and aligns with the strategic direction of Avian Brands. This approach reinforces
Employee Turnover Avian Brands’ resolve to become a competitive learning organization, as well as a workplace that enables every employee to
grow alongside Avian Brands and deliver their best contributions toward the attainment of the long-term Vision and Mission.
Avian Brands places employee well-being and development as an integral part of its long-term oriented Human Resources The indicators used for performance evaluation are described as follows:
management strategy. This effort is implemented as a proactive measure to minimize employee turnover while strengthening
individual loyalty and a sense of ownership. Avian Brands believes that building a strong bond between the Company and
its employees begins with sustainable investment in career development, competence enhancement, and the creation of
an inclusive, collaborative, and supportive work environment.
Various initiatives have been executed, ranging from providing access to training tailored to industry dynamics and developing
clear career paths to fostering a work culture that values every individual’s contribution. These steps not only enhance job
satisfaction and employee motivation but also strengthen organizational stability by retaining the best talent.
PERFORMANCE
COMPETENCE MATRIX ASSESSMENT
Through this holistic approach, Avian Brands strives to create a work ecosystem that encourages balanced personal and APPRAISAL
professional growth. Avian Brands believes that a healthy and supportive work environment will produce employees who are
productive, innovative, and highly competitive. Consequently, managing employee turnover serves not only as an operational
indicator but also as a reflection of Avian Brands’ commitment to sustainability, Human Resources excellence, and the The process of measuring The process of measuring The process of measuring
technical competence fulfillment competence fulfillment to potential and performance is
achievement of solid long-term performance. Information regarding the permanent employee turnover rate of Avian Brands
and development plans to support job functions, including conducted periodically using
and its Subsidiaries is outlined as follows:
support technical job functions. performance achievements, assessment tools as
work culture (CInTA), general a consideration for granting
competencies, work discipline, promotion and talent mapping.
and leadership.
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Company Profile PT Avia Avian Tbk
HR Development Strategy in 2026
Entering 2026, Avian Brands continues to position Human Resources development as a primary pillar of its sustainable growth
strategy. In alignment with increasingly complex and competitive industry dynamics, Avian Brands has designed various
strategic initiatives focused on enhancing both individual and collective capacities. These include strengthening technical
skills relevant to operational needs, fostering leadership development across all organizational levels, and creating progressive
and inclusive career paths.
These measures aim not only to bolster internal readiness in responding to market challenges but also to ensure that Avian
Brands consistently maintains a resilient, adaptive, and result-oriented team. With a competent and continuously evolving
workforce, Avian Brands believes that a sustainable competitive advantage can be maintained, while further solidifying the
foundation to achieve long-term visions and deliver added value to all stakeholders.
In general, the human resources development realized by Avian Brands for the year 2026 is outlined as follows:
1. Optimizing the utilization of AI across the entire Human Capital Information System (“HCIS”);
2. Implementing individual performance measurement systems across all job levels;
3. Optimizing a more equitable and integrated talent management system;
4. Integrating HCIS features and functions into the MyAvian Development application;
5. Conducting a comprehensive evaluation of the performance of outsourcing providers; and
6. Promoting a healthy work culture through Employee Wellness programs to create a safe, comfortable, healthy, and “homey”
work environment as part of the efforts to support work-life balance and a “work feels like home” atmosphere.
Information Technology As a part of continuous evaluation and improvement, Avian Brands’ IT Department routinely conducts an annual management
review. This forum engages all relevant stakeholders, including Top Management and Representative Managers, to assess the
effectiveness of system implementation and align IT management targets with Avian Brands’ strategic direction. During this
Avian Brands regards Information Technology (“IT”) as an indispensable strategic component in supporting its overall forum, Key Performance Indicators (“KPIs”) are established as benchmarks, alongside discussions on achieved milestones and
business and operational activities. The role of IT is not merely limited to a technical support tool, but has become the primary future action plans.
foundation for achieving long-term objectives and realizing Avian Brands’ vision. Through reliable IT systems, Avian Brands
is able to integrate business processes more efficiently and accurately, accelerate workflows, and strengthen the quality of A primary focus within Avian Brands’ IT management is the strengthening of cybersecurity aspects, particularly in efforts to
decision-making based on valid, real-time, and structured data. prevent potential disruptions to operational continuity and to minimize the risk of viruses, malware, and other digital threats.
This approach reflects Avian Brands’ commitment to maintaining operational sustainability and stakeholder trust through IT
As a large-scale manufacturing company that relies on speed and precision at every stage of production, IT optimization is key management that is professional, adaptive, and resilient against risks. As an anticipatory measure against security threats,
to maintaining operational continuity and productivity. Consequently, Avian Brands continues to enhance its IT capabilities Avian Brands has formulated detailed mitigation procedures in accordance with the requirements of ISO 27001. Some of the
to ensure rapid information transmission, precise data processing, as well as the stability and reliability of its internal strategic measures implemented by Avian Brands are described as follows:
communication systems. This endeavor is implemented through a gradual and sustainable approach, including business 1. Access Control Management, where Avian Brands ensures IT access security by implementing encryption standardization,
process automation, cross-functional system integration, and digital infrastructure upgrades. conducting annual user access reviews, and managing super user access to maintain data confidentiality and integrity;
2. Annual IT Internal Audit, where this regular audit works to identify potential risks and ensure the conformity of security
With a structured approach that is adaptive to technological advancements, Avian Brands reaffirms its commitment to building procedures with established standards;
an information system that is agile, resilient, and proactive toward market dynamics. This not only bolsters Avian Brands’ 3. Business Continuity, where Avian Brands ensures operational continuity through device redundancy, maintenance,
competitiveness amidst digital-based industrial transformation but also reflects its orientation toward creating added value periodic monitoring of data centers, and implementing technology that supports business continuity;
through continuous innovation and superior operational efficiency. 4. Disaster Recovery Plan (“DRP”), which serves as an anticipatory measure for disasters or major disruptions, prepared by
Avian Brands by establishing a disaster recovery center at Avian Innovation Center and preparing a recovery plan to ensure
that operations can return to normal as soon as possible;
IT Governance 5. Backup and Data Restore, which becomes Avian Brands’ regular daily agenda to maintain data availability, followed by
a restore simulation to ensure data integrity and reliability; and
Avian Brands consistently implements robust IT governance aligned with international standards as part of its efforts to 6. Periodic Incidents Simulation, where Avian Brands conducts simulations of periodic incidents and failover scenarios to
protect information assets and maintain system integrity. This commitment is realized through implementing the ISO 27001 test system preparedness in emergencies.
standard for Information Security Management Systems, which serves as the benchmark in establishing a comprehensive and
sustainable information security framework.
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These measures are part of the various mitigation procedures that Avian Brands has in place, in accordance with the ISO 27001 The IT development that Avian Brands successfully realized throughout 2025 is described as follows:
standard, designed to minimize the risk of disruption and ensure safe and reliable business continuity. 1. Vulnerability Management
Vulnerability Management is a process carried out by Avian Brands to analyze, identify, and classify the levels of risk
associated with system vulnerabilities, enabling Avian Brands to minimize the risks associated with information system
Information Security Management System vulnerabilities. Avian Brands will implement the following measures related to Vulnerability Management:
a. Identifying all existing information assets, such as hardware, software, data, and networks, allowing Avian Brands to
Avian Brands understands that information security is more than just a necessity, but also an essential foundation for assess and identify weaknesses in the system;
maintaining business sustainability and stakeholders’ confidence. Avian Brands realizes this commitment by implementing the b. Categorizing vulnerabilities based on risk levels to determine response priorities;
PT Avia Avian Tbk Information Security Management System Policy. Based on this policy, Avian Brands constantly carries out c. Formulating a clear policy for vulnerability management, including procedures to report and address identified
a continuous improvement process of the information security management system, by: vulnerabilities;
1. Maintaining data confidentiality, integrity, and availability by responsibly managing all information assets (including d. Conducting ongoing monitoring to detect new vulnerabilities, as well as reviewing and updating policies and
personal data) and taking all precautions against unauthorized disclosure, loss, and corruption of data; procedures as necessary;
2. Taking corrective actions to handle and prevent information security incidents and ensuring continuous improvement of e. Recording all findings, corrective actions, and policies for future reference; and
the information security management system; f. Conducting periodic penetration testing to test the system’s resistance to
3. Improving employee competence by providing information security attacks.
training, providing infrastructure, and raising awareness of the value
of responsible information asset management; and
4. Complying with applicable local, regional, and national laws and
regulations related to information security.
Avian Brands constantly integrates this policy into its day-to-day business
processes, ensuring that every operational activity is underpinned by
a reliable, transparent and secure system. In addition, this policy has
been communicated to all levels of management to ensure that all
employees are aware of the need to document, maintain, implement,
periodically review, and provide information on the information security
management system to related parties. These efforts not only aim to
protect Avian Brands’ information assets, but also to promote customer
satisfaction, ensure excellent service quality, and create added value for
all stakeholders.
IT Development in 2025
Entering 2025, Avian Brands reinforced its commitment to positioning
IT as a primary driver of operational efficiency and strategic excellence
across all business lines. Amid the acceleration of digital transformation
and the increasing complexity of the manufacturing industry, the role of
IT has evolved beyond a mere supporting function into a vital foundation
for creating work systems that are more adaptive, precise, and connected
in real-time. The development of IT infrastructure and systems was
established as a strategic priority to accelerate automation processes,
expand inter-departmental integration, and enhance the reliability of
communication and information flow. With a cutting-edge technology-
based approach and meticulous data utilization, Avian Brands continues
to drive decision-making that is more accurate, rapid, and insight-driven.
This initiative is an integral part of Avian Brands’ long-term vision to build
an organization that is responsive, resilient to change, and superior in an
increasingly digital industry competition.
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2. Backup System Management Several IT development plans that will be realized by Avian Brands in 2026, are described as follows:
To effectively manage all backup system activities across Avian Brands, it necessary to conduct strict monitoring of the 1. Personal Data Protection (“PDP”)
backup schedule, as well as continuous maintenance to ensure that each backup process runs smoothly and successfully. Personal data protection policies are not merely a matter of legal compliance and preventing data breaches; they constitute
A good Backup System Management not only serves as a data protection tool, but is also a critical element in maintaining a business strategy with a significant impact on Avian Brands’ trust, efficiency, and reputation. Furthermore, the PDP policy
Avian Brands’ operational continuity. The benefits of implementing Backup System Management are described as follows: provides several other benefits as follows:
a. Maintaining backup data properly, to ensure complete data recovery in the event of data corruption or loss; a. Ensuring legal compliance in accordance with Law No. 27 of 2022 concerning Personal Data Protection (“PDP”), thereby
b. Faster recovery of damaged or lost data by minimizing factors of data loss; and avoiding administrative and criminal sanctions, such as fines, suspension of activities, or legal lawsuits;
c. Maintaining a smooth process of Avian Brands’ operations to support the availability of the required data. b. Enhancing the trust of customers and business partners, whereby customers feel more secure in providing personal
3. User Awareness of Cyber Threats data, such as email addresses, phone numbers, or transaction data;
Avian Brands is committed to raising user awareness as a vital part of information system security in order to respond to the c. Strengthening Avian Brands’ reputation as a transparent and accountable company;
increasing cyber threats. The program will focus on continuous education and implementation of stricter safety procedures. d. Minimizing the risk of data breaches and security incidents through access control, encryption, backups, and incident
By raising awareness among all employees, Avian Brands aims to build a strong cybersecurity culture to minimize the risk reporting, which reduces the risk of cyberattacks, data theft, or misuse of personal information; and
of attacks and protect the integrity of Avian Brands’ data. The benefits related to increasing employees’ user awareness are e. Increasing employee awareness and responsibility regarding the importance of maintaining the confidentiality of both
described as follows: customer and internal data through PDP training and policies.
a. Employees are more aware of cyber threats, such as phishing, malware, and ransomware, and are more cautious in their 2. Server Virtualization
online activities, thereby reducing their chances of falling victim to a cyberattack; Server virtualization is a technology that enables a single physical server (hardware) to run multiple virtual servers (Virtual
b. Trained employees can recognize and report threats faster, enabling a more effective response to mitigate the impact Machines/”VM”) with various distinct functions. The optimization of these VMs provides several advantages as follows:
of an attack; a. Enhancing resource utilization efficiency, where server resources can be utilized more optimally, thereby minimizing
c. Companies with effective cybersecurity awareness programs can build confidence among their customers and business costs without compromising system performance;
partners, thereby reinforcing their reputation as security-conscious entities; and b. Utilizing isolation systems and maintaining inter-system security, where each VM operates on a separate system that is
d. Raising employee awareness will help create a strong security culture within Avian Brands, where every employee feels isolated from other VMs. Should one virtual server malfunction, be infected by a virus, or experience a crash, the other
responsible for protecting Avian Brands’ assets and data. servers remain secure and continue to operate normally;
c. Facilitating seamless backup, snapshot, and recovery, where VMs can be fully backed up as files, making disaster
recovery significantly easier and faster; and
IT Development in 2026 d. Providing ease of centralized management, where all virtual servers can be managed from a single dashboard
(e.g., VMware vCenter or Proxmox VE). Furthermore, real-time monitoring of server resources and performance can also
Amidst the rapid and inevitable wave of digital transformation, Avian Brands looks toward 2026 with a firm resolve to be conducted.
establish IT as the core engine of innovation and operational excellence. Driven by the spirit of continuous advancement, 3. Network Security
Avian Brands prioritizes IT development through various targeted initiatives, ranging from strengthening digital infrastructure Network security serves as the core foundation to ensure that all of Avian Brands’ IT systems remain protected, stable, and
and modernizing information security systems to integrating data-driven solutions that support real-time decision-making. reliable. This infrastructure security also provides several benefits as follows:
This step reaffirms Avian Brands’ commitment to building an organization that is resilient, adaptive, and prepared to face the a. Protecting data from unauthorized access through the utilization of appropriate technologies, thereby preventing
complex industrial challenges of the future. theft, interception, or modification of data by unauthorized parties;
b. Preventing cyberattacks through the implementation of Intrusion Detection and Prevention Systems (IDS/IPS) as well
as endpoint protection, which safeguard the system from threats such as malware, ransomware, DDoS, and phishing;
and
c. Maintaining Service Availability. A secure network infrastructure ensures that systems remain online and stable despite
attempted disruptions, while simultaneously avoiding downtime resulting from attacks or system failures.
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PT Avia Avian Tbk Management Discussion and Analysis “Amidst challenging external dynamics, Avian Brands continues to move forward with strategic discipline and the courage to seize opportunities. This resilience is reflected in our solid operational performance and quality growth, proving that perseverance, adaptation, and visionary leadership are the core foundations for Avian Brands in maintaining the momentum of progress.” 96 2025 Annual Report 2025 Annual Report 97
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Economic Overview Industry Overview
The global economy in 2025 was characterized by increasing policy uncertainty and economic fragmentation, following shifts In line with national macroeconomic resilience, the manufacturing industry’s performance continued to show strong
in trade policies, tightening immigration, and the implementation of more expansive fiscal policies in several developed resilience through the end of 2025, despite ongoing global economic pressures. The Purchasing Managers’ Index (“PMI”)
nations. These dynamics pressured economic growth prospects and prompted global macroeconomic policy adjustments. of the manufacturing sector in December 2025 was recorded at 51.2, marking an expansionary phase that has lasted for
The International Monetary Fund (“IMF”) projected global economic growth for 2025 at approximately 3.2%, a decline from 5 consecutive months. This condition was supported by robust domestic demand, increased labor absorption, and rising raw
the 3.3% achieved in 2024. This downward projection was influenced by heightened policy uncertainty, a rising trend toward material purchasing activities. Concurrently, business optimism strengthened to its highest level in the last 3 months, reflecting
protectionism, and global trade fragmentation, with growth risks still leaning toward the downside. Conversely, global confidence in future demand prospects and economic stability.
inflationary pressures were expected to continue easing, albeit with variances between countries, following monetary policy
adjustments that remained tight and cautious across major jurisdictions. Aligned with this positive trend, the national paint industry began to show performance improvement and increasingly
conducive growth prospects. Rising construction activity, improvements in the property sector, and the continuity of national
Amidst these global challenges, the Indonesian economy demonstrated solid resilience. In 2025, Indonesia’s economic growth development programs drove demand for paint products in both residential and non-residential segments. On the demand
reached 5.11%, an increase compared to 5.03% in the previous year. This achievement was driven by strong domestic demand, side, domestic paint consumption, currently at approximately 1.3 million metric tons or about 4.2 kilograms per capita, reflects
consistently solid export performance, resilient investment, and the effective role of the State Budget (Anggaran Pendapatan significant room for long-term growth, alongside rising purchasing power and ongoing development activities across various
dan Belanja Negara/“APBN”) in maintaining public purchasing power and supporting the business world. Macroeconomic regions.
stability was also maintained with inflation kept within the government’s target, supported by close coordination between
fiscal policy and Bank Indonesia’s monetary policy in safeguarding exchange rate stability, liquidity, and the financial system. Source:
• Public Information from the Directorate General of Economic and Fiscal Strategy of the Ministry of Finance of the Republic of Indonesia, accessible via the link
Prudent fiscal support, including the placement of state treasury funds and the acceleration of regulatory debottlenecking,
https://fiskal. kemenkeu.go.id/baca/2026/01/06/4575-ekonomi-indonesia-tetap-tangguh-di-akhir-2025-manufaktur-menguat-dan-inflasi-terkendali; as well as
further strengthened economic liquidity and the investment climate. • Public Information of the Advisory Council to the President of the Republic of Indonesia, accessible via the link https://wantimpres.go.id/id/newsflows/industri-
cat-lesu-produsen-minta-pemerintah-batasi-impor-produk-jadi/
From the expenditure side, household consumption remained the primary pillar of economic growth, growing by 4.98%. This
performance was supported by increased public mobility, the growth of digital transactions, and the recovery of tourism and
services sectors. Government consumption also grew by 2.50%, reflecting the government’s commitment to maintaining
growth momentum through targeted and effective spending. Meanwhile, investment or gross fixed capital formation showed
strengthening with a growth of 5.09%, driven by capital expenditure from the government and State-Owned Enterprises
(SOEs), as well as modernization of production capacities within the business sector. Export performance remained a key driver,
with exports of goods and services growing by 7.03%, while imports grew by 4.77% in line with domestic production needs.
Operational Overview
Source:
The operational review details Avian Brands’ operational performance throughout 2025 compared to the previous year. It also
• World Economic Outlook October 2025 edition, International
Monetary Fund; reflects Avian Brands’ ability to conduct its core business activities efficiently, adaptively, and sustainably. Through this review,
• Official Statistics News (Berita Resmi Statistik), from Statistics Avian Brands highlights various dynamics within each operating segment, including the strategies implemented, operational
Indonesia (Badan Pusat Statistik); and achievements, challenges encountered, and the adjustment measures adopted in order to maintain stability and support
• Economic, Financial, and Fiscal Review, IV Edition 2025, performance growth.
Directorate General of Economic and Fiscal Strategy, Ministry of
Finance of the Republic of Indonesia.
Strategic Policies 2025
The year 2025 served as an important momentum for Avian Brands to solidify the foundation for sustainable growth amidst
increasingly competitive market dynamics. Adhering to the principles of innovation, efficiency, and operational resilience,
Avian Brands’ strategic policies this year focused on expanding market reach, improving product portfolio, and enhancing
customer service and loyalty. The strategic policies realized by Avian Brands throughout 2025 are as follows:
1. Increasing the number of distribution centers in accordance 6. Expanding the market by reaching out to segments
with the growing market; outside retail and modern shops, such as project,
2. Complementing product portfolios in each category and new build, and business to business;
price point to meet market needs; 7. Strengthening innovation and development,
3. Increasing brand awareness through various marketing both for existing products (cost saving) and new
programs; products; and
4. Improving customer service with new approaches, such as 8. Constantly upgrading manufacturing facilities and
express delivery; other supporting facilities, including the Enterprise
5. Increasing customer loyalty with various programs, such as Resource Planning (“ERP”) System in use with
the Avian Brands Priority Customer and Avian Brands Partner appropriate new technology to improve efficiency.
Program;
All of these strategic steps are designed not only to achieve business targets, but also to
maintain a competitive position in the industry.
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Operational Overview by Operating Segments Net sales for the architectural solutions segment in 2025 reached IDR 6,291.90 billion, an increase of 7.60% compared to IDR
5,847.70 billion in 2024. Meanwhile, the cost of goods sold recorded by the architectural solutions segment in 2025 reached
Avian Brands classifies its operating segments based on the provisions in the Statement of Financial Accounting Standards IDR 3,042.48 billion, an increase of 6.65% compared to IDR 2,852.89 billion in 2024. Consequently, the gross profit for the
(Pernyataan Standar Akuntansi Keuangan “PSAK”) No. 5 regarding Operating Segments, as disclosed in the Consolidated architectural solutions segment in 2025 increased by 8.50% to IDR 3,249.42 billion from IDR 2,994.81 billion in 2024.
Financial Statements of PT Avia Avian Tbk and its Subsidiaries for the financial years ended December 31, 2025, and 2024.
These reports have been audited by the Public Accounting Firm Teramihardja, Pradhono & Chandra (a member firm of Crowe Trading Goods Segment
Global), with operating segment disclosures found in Note No. 3 letter bb and Note No. 36 regarding Segment Information. The trading goods segment is a component of Avian Brands’ operations focused on distributing and selling a range of
Based on these Financial Statements, Avian Brands divides its business activities into two main segments: Architectural complementary products, including pipes, furniture, and painting accessories such as paint rollers, brushes, masking tape,
Solutions segment and Trading Goods segment. and sandpaper. Unlike the architectural solutions segment, which involves internal production processes, the products in this
segment are sourced from third-party suppliers outside of Avian Brands. Nevertheless, distribution and sales activities remain
This segmentation serves as the basis for the financial reporting process and managerial decision-making. Through separate to be managed by PT Tirtakencana Tatawarna, supported by a network of third-party distributors. This segment benefits from
segment reporting, Management can objectively assess the performance of each business line, analyze their contributions to strong synergies with Avian Brands’ customer base; data shows that 86.62% of Avian Brands’ total customers also market
the consolidated financial performance, and establish appropriate strategies tailored to the characteristics and prospects of products from the trading goods segment. This indicates that the implemented cross-segment strategy has successfully
each segment. This approach reflects Avian Brands’ commitment to transparency, accountability, and data-driven business strengthened market penetration and expanded the scope of services provided to retail customers.
management in supporting sustainable growth.
Profitability and Contribution of Trading Goods Segments
The performance of each operating segment in relation to Avian Brands’ consolidated net sales is described as follows: (in million Rupiah, unless otherwise stated)
Increase (Decrease)
Description 2025 2024 Percentage
Nominal
(%)
22.55% 21.73% Net Revenues 1,831,784 1,623,653 208,131 12.82
Cost of Goods Sold (1,502,945) (1,277,715) 225,230 17.63
Gross Profit 328,839 345,938 (17,099) (4.94)
2025 2024
Net sales for the trading goods segment in 2025 reached IDR 1,831.78 billion, an increase of 12.82% compared to IDR 1,623.65
billion in 2024. Meanwhile, the cost of goods sold recorded by the trading goods segment in 2025 reached IDR 1,502.95 billion,
77.45% 78.27% an increase of 17.63% compared to IDR 1,277.72 billion in 2024. Nevertheless, the gross profit for the trading goods segment
in 2025 decreased by 4.94% to IDR 328.84 billion from IDR 345.94 billion in 2024.
Architectural Solutions Trading Goods Paint Manufacture Performance
In 2025, the Architectural Solutions operating segment remained the primary contributor to Avian Brands’ net revenue, Paint serves as the core product of Avian Brands, manufactured through 2 cutting-edge manufacturing facilities owned by
accounting for 77.45%, compared to the Trading Goods operating segment at 22.55%. This achievement represents Avian Brands. Avian Brands consistently delivers high-quality paint products maintained under rigorous quality standards.
an adjustments from the previous year, where the Architectural Solutions segment contributed 78.27% to Avian Brands’ net The production process is supported by a highly skilled workforce, automation systems, and the application of advanced
sales and the Trading Goods segment contributed 21.73%. technology, enabling the creation of product innovations that not only excel in terms of performance but are also sustainability-
oriented and environmentally friendly.
Architectural Solutions Segment
The Architectural Solutions segment is one of the core pillars of Avian Brands’ operational structure, encompassing the A combination of technical expertise, continuous innovation, and integrated production processes serves as the primary
production, distribution, and trade of various building coating products. Products within this segment include wall paints, foundation for meeting dynamic market demands and maintaining consistent product quality. Through ongoing investment
wood and metal paints, waterproofing coatings, wood care products, adhesives, roof paints, and instant cement products, in research and development, Avian Brands has produced various flagship paint products that serve as industry benchmarks,
commonly known as decorative paints. Within this segment’s value chain, Avian Brands serves as the manufacturer, developing characterized by better durability, safety for health, and alignment with the demands of modern customers.
and producing a range of product variants with innovative formulations and high-quality standards. Meanwhile, the distribution
process to the retail market is managed by PT Tirtakencana Tatawarna as the primary distributor, alongside a network of third- The positive market reception of these products serves as a testament to the success of the innovative approach implemented
party distributors to ensure widespread and balanced product availability across all marketing regions. by Avian Brands. With a focused production strategy and strong execution discipline, Avian Brands is optimistic about its ability
to continuously enhance productivity, expand market share, and cement its position as the leader in the national paint market.
Profitability and Contribution of Architectural Solutions Segments
(in million Rupiah, unless otherwise stated)
Increase (Decrease)
Description 2025 2024 Percentage
Nominal
(%)
Net Revenues 6,291,901 5,847,703 444,198 7.60
Cost of Goods Sold (3,042,484) (2,852,891) 189,593 6.65
Gross Profit 3,249,417 2,994,812 254,605 8.50
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Paint Manufacturing Process Flow Avian Brands’ paint manufacturing process involves using raw materials purchased from external parties and raw materials
produced in-house by Avian Brands. Among the raw materials produced in-house by Avian Brands are resins and pigments.
Avian Brands also produces calcium raw materials, through its sister company, PT Panca Kalsiumindo Perkasa.
SILO RESIN Avian Brands’ paint manufacturing process begins with the with product information, including the paint code, color,
RESIN REACTOR processing of the base material in the resin reactor, in which and batch number. Additionally, details regarding product
resin is processed into the main components of paint. health and safety, as well as its environmental impacts, are
The processed resin is then stored in resin silos, while also provided. Once the filling and packaging processes are
other powdered materials are stored in powder silos. The complete, the products are sealed and prepared for storage
GRINDING
next process involves mixing the resin and powder using in the warehouse. Finished products are then stored before
MACHINE
a High-Speed Dispenser (“HSD”) machine to produce distribution.
a homogeneous mixture of based paint in accordance with
the specified paint formula. Meanwhile, the pigments are The distribution process is carried out using Avian
processed using grinding machines to achieve smooth Brands’ fleet of vehicles, ensuring that high-quality paint
and uniform texture, which results in paste. Next comes products reach various sales points safely and on time.
the mixing of primer and paste through the mixing process With a structured and integrated production flow, Avian
to achieve the desired paint and color specifications. Brands ensures that every paint product meets the needs
The mixed product then undergoes testing in the quality and expectations of its customers.
control laboratory to ensure that all standards and quality
SILO parameters are met. This is followed by a color-matching With a skilled and experienced production team, Avian
HIGH SPEED
POWDER process to ensure that the paint color aligns with the Brands has been able to optimize every stage of production,
DISPENSER
predetermined specifications. from the selection of quality raw materials to meticulous
final packaging. In addition, effective implementation of
COLOUR Once all quality and color criteria are fulfilled, the paint is efficiency programs successfully lowered production costs
MATCHING packaged using can-making machines. At this stage, Avian without compromising on quality, which consequently
Brands also ensures that the packaging is always neat and improves the profitability and competitiveness of Avian
secure, in line with the specifications. Each can is labeled Brands’ paint products in the market.
Paint Manufacturing Realization
Avian Brands has 2 manufacturing facilities located in Sidoarjo and Serang with respective production capacities of 213,840
and 72,576 metric tons per year. Information regarding the total paint production from both production facilities over the past
2 years is described as follows:
QUALITY
FILLING AND CAN MAKING
CONTROL
PACKING MACHINE 2025 2024 Increase (Decrease)
Description Contribution Contribution Contribution
Metric Tons Metric Tons Metric Tons
(%) (%) (%)
Sidoarjo Plant 153,672 67.62 137,950 69.91 15,722 11.40
Serang Plant 73,594 32.38 59,389 30.09 14,205 23.92
Total Production 227,266 100.00 197,339 100.00 29,927 15.16
32.38% 30.09%
WAREHOUSE DISTRIBUTION
2025 2024
67.62% 69.91%
Sidoarjo Plant Serang Plant
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Marketing and Distribution Aspect
Throughout 2025, Avian Brands successfully produced 227,266 metric tons of paint, a 15.16% increase compared to 197,339
metric tons in 2024. This was mainly influenced by growing market demand, optimization of production capacity, an increase
in the number of customers, and expansion of the distribution network, which further improved the Company’s market reach.
Innovation and Development of Paint Production Process Marketing aspects play a strategic role in supporting business growth and strengthening Avian Brands’ competitive position
Avian Brands continuously pursues innovation and development within its paint production processes as part of a continuous amidst increasingly complex industry competition. Through an integrated, adaptive, and customer-oriented marketing
effort to maintain a competitive advantage and meet dynamic market demands. Avian Brands focuses not only on enhancing strategy, Avian Brands continuously develops innovative approaches to gain a deep understanding of customer needs,
capacity and efficiency but also on implementing environmentally friendly technologies that uphold sustainability principles. behaviors, and preferences. This approach focuses not only on increasing sales volume but is also directed toward building
This initiative serves as a vital foundation in ensuring that every product is not only manufactured to high-quality standards long-term customer loyalty and creating sustainable added value.
but is also produced through socially and environmentally responsible processes. The innovations and developments in paint
production successfully realized by Avian Brands throughout 2025 are outlined as follows: In its implementation, Avian Brands’ marketing strategy is executed through two primary approaches. First, the below-the-line
1. Implementing a packaging efficiency program through reducing weight, eliminating certain plastic materials, and (“BTL”) approach, which involves loyalty programs, direct promotional activities, and brand activations aimed at strengthening
optimizing packaging design; personal customer engagement. Second, the above-the-line (“ATL”) approach, which utilizes mass media such as television,
2. Optimizing renewable material mix in manufacturing processes; radio, and digital platforms to expand brand communication reach and enhance awareness in the broader sense. The synergy
3. Reusing waste materials from manufacturing processes, including sludge from water-based paints, subject to quality between these two approaches allows Avian Brands to respond more effectively to market dynamics while reinforcing its
screening and testing processes; brand image in the minds of customers. Information on the two strategies is further described as follows:
4. Implementing the Sustainable Product Framework principles as a guide in developing, and transitioning to, a more
environmentally friendly product portfolio;
5. Implementing operational energy efficiency programs and optimizing manufacturing processes to improve operational BTL Marketing Strategy
performance;
6. Increasing the use of environmentally friendly energy in manufacturing activities by using solar panels and electricity As part of a marketing approach focused directly on customers and sales partners, Avian Brands consistently
generated by hydropower plants; and executes various below-the-line (BTL) marketing strategies to strengthen market penetration, drive loyalty,
7. Adopting cleaner, low-emission manufacturing technology to minimize the environmental impact of manufacturing and enhance direct interaction with the distribution ecosystem. These strategies are designed not only
processes. to boost sales volume but also to build strong, sustainable relationships with retailers, painters, and shop
assistants as the frontline of product distribution. The BTL marketing strategies realized by Avian Brands are
outlined as follows:
Profitability
1 Targeting Traditional and Modern Retail Shops 4 Avian Brands Priority Customers Program
Profitability ratios serve as a key parameter in evaluating Avian Brands’ financial performance. These ratios reflect the Avian Brands establishes strategic partnerships with building Avian Brands develops a specialized program called Avian
extent of Avian Brands’ effectiveness in managing resources to generate profit from its operating activities. Through these material stores, spanning both traditional outlets and modern Brands Priority Customers to reinforce the loyalty of distribution
ratios, stakeholders can assess Management’s efficiency in creating added value, while simultaneously measuring Avian retail chains, as the primary distribution channels to end partners, particularly for stores that consistently prioritize
Brands’ financial health and sustainability. Higher profitability ratios indicate a greater ability for Avian Brands to generate customers. To strengthen these relationships, Avian Brands the sale of Avian Brands products in specified volumes.
profit, strengthen its financial structure, and support sustainable business growth. Information regarding the Avian Brands’ offers various attractive reward schemes, such as point-based As a token of appreciation, stores participating in this program
loyalty programs redeemable for shopping vouchers, gold are entitled to priority services and additional incentives to
profitability level for the last 2 years is described as follows:
(in %) coins, special discounts, and other incentives designed to strengthen long-term collaboration.
increase the motivation and engagement of retail partners.
Description 2025 2024 5 Incentives for Store Assistants on New Product Sales
2 Product Launch Through In-Store Activations Avian Brands provides specific incentives for store assistants
Consolidated Profit Before Income Tax Expense to Consolidated Net Revenues 26.78 27.69
Avian Brands conducts product launch at selected retail stores who successfully sell previously unsold products. This strategy
Consolidated Profit Before Income Tax Expense to Consolidated Total Assets 19.63 18.70 to directly showcase new products to the market. These events aims to motivate the sales force to actively and measurably
Consolidated Profit Before Income Tax Expense to Consolidated Total Equity 22.81 21.48 are held selectively for particular products and stores that are expand product reach. Furthermore, this initiative serves as
the focus of marketing efforts. Through these activations, Avian a strategy to drive the penetration of products less known to
Consolidated Profit for the Year to Consolidated Net Revenues 21.47 22.27
Brands creates a more compelling customer experience while the market, including the tinting product line.
Consolidated Profit for the Year to Consolidated Total Assets 15.73 15.04 effectively increasing product exposure at the point of sale.
Consolidated Profit for the Year to Consolidated Total Equity 18.28 17.27 6 Gathering and Training Programs for Store Assistants
3 Avian Brands Partner Program Avian Brands organizes gathering programs as a form of
Avian Brands measures its profitability performance through several key indicators, such as the ratios of profit before tax and Avian Brands implements a loyalty program based on point support for the capacity building of store assistants. These
profit for the year relative to net sales, total assets, and total equity. Throughout 2025, most profitability ratios showed an coupons found within paint cans as a form of appreciation for programs include product training, education on proper
painters and direct product users, namely Avian Brands Partner application, and socialization of various marketing and reward
increase compared to the previous year. This condition was primarily driven by a 5.18% increase in profit before income tax
Program. These points can be redeemed for electronic money, programs. Through these forums, store assistants are also
expense and a 4.83% increase in profit for the year. such as OVO, GoPay, and others, by scanning the QR Code via encouraged to share testimonials regarding the benefits and
mobile devices. To streamline the process, Avian Brands also positive experiences gained from the incentive programs to
collaborates with retail stores that act as facilitators to scan boost the motivation and morale of their colleagues.
coupons and provide cash incentives to painters, in exchange
for which the stores also receive incentives in the form of
points.
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The synergy between digital strength, competent human resource support, and an extensive distribution network has enabled
ATL Marketing Strategy Avian Brands to reach the market more effectively, accelerate times of product delivery, and ensure that customer satisfaction
remains at an optimal level. These efforts are designed not only to drive sales growth but also to solidify Avian Brands’ position
Avian Brands implements Above-the-Line (ATL) marketing strategies as part of a broad-scale communication as an adaptive and innovative leader within the national building materials industry.
approach aimed at strengthening brand exposure, building a consistent brand image, and extending
communication reach to the general public. This strategy focuses on the structured utilization of mass
media and promotional campaigns to enhance awareness, preference, and loyalty toward Avian Brands’ Market Share
products across various market segments. The ATL marketing strategies realized by Avian Brands are
outlined as follows: Market share is a vital indicator that reflects the extent of Avian Brands’ sales contribution relative to the total sales within the
national paint industry. This indicator serves not only as a measure of commercial success but also as a benchmark for Avian
1 Utilization of Digital Media for Wide Audience Reach
Brands’ competitive position in earning customer trust compared to other industry players. As of the end of 2025, based on
internal management evaluations, Avian Brands has successfully captured 26% of the national market share. Avian Brands
Avian Brands actively places advertisements through various media channels to reach a wide audience at the national level. In 2025,
Avian Brands’ marketing communication strategy focused more on utilizing digital media and platforms to increase the effectiveness of continuously strengthens its position and market share at the national level through disciplined strategy execution, consistent
its reach, as well as its relevance to the public’s increasingly digitized media consumption behavior. This approach was designed to boost expansion of distribution, and strengthening of its product portfolio to meet the needs of the market. This achievement reflects
top-of-mind awareness while expanding brand exposure to potential customers in various regions and demographic segments. the effectiveness of the Company’s strategy in maintaining competitiveness amid increasingly fierce industry dynamics. This
achievement solidifies Avian Brands’ position as the market leader in a highly dynamic and competitive national paint industry.
2 In-Store Engagement Programs 3 Out-of-Store Engagement Programs
This leadership is inseparable from the strength of Avian Brands’ extensive and integrated distribution system. Avian Brands has
At the retail level, Avian Brands develops various in-store Avian Brands organizes out-of-store programs to extend its consistently expanded its distribution reach, and by the end of 2025, it had partnered with more than 60,000 building material
programs to enhance the visual and educational experience direct communication approach to communities of users.
stores spanning from Sabang to Merauke. This strategic collaboration ensures the availability of Avian Brands’ products across
for customers. These programs include the installation of These include product launches and application training for
product displays and educational information boards, store segmented customer groups, such as builders, contractors,
various regions, including remote areas, thereby guaranteeing easy access for customers to the high-quality products offered.
decorations with strong branding elements, product grouping and store owners. These programs aim not only to introduce
systems based on categories, and the placement of product product advantages but also to foster more personal and Furthermore, Avian Brands has become the preferred choice for various national contractors for small to large-scale projects,
consultants serving as brand representatives to provide educational interactions with customers. ranging from residential developments and commercial buildings to industrial facilities. This trust is a reflection of consistent
customers with direct information and recommendations. product quality, a strong brand reputation, and Avian Brands’ commitment to sustainability and timely delivery. This also
demonstrates that Avian Brands’ presence is not only dominant in the retail market but also within the strategic segment of
project business.
In response to the evolving digital marketing landscape, Avian Brands proactively integrates digital technology and social With a solid foundation in market share, an extensive distribution network, and a high level of trust from both retail and
media as part of its communication and market expansion strategy. The utilization of various digital platforms, such as Google, institutional customers, Avian Brands continues to innovate to strengthen its competitive edge. Avian Brands actively develops
YouTube, LinkedIn, Facebook, Instagram, TikTok, and the official website, serves as a means to strengthen brand presence adaptive market penetration strategies based on customer needs to ensure that every single one of its
and expand the scope of customer interaction. Search engine optimization on Google is utilized to enhance brand visibility, products remains the primary choice amidst the ever-evolving dynamics of the building materials
while YouTube is used to deliver educational and inspiring video content. LinkedIn serves as a medium for professional industry.
networking and corporate communication, whereas Facebook and Instagram are focused on reaching a broader audience
through creative and interactive visual campaigns. Meanwhile, TikTok is used to engage the younger generation with a fresh
and relevant content approach. Avian Brands’ official website acts as the primary channel for product information, customer
service, corporate news, and an easily accessible educational hub for all stakeholders.
Implementation of this digital strategy is reinforced by the presence of more than 1,600 product consultants specifically
assigned to various customer retail outlets. These consultants serve as the frontline in directly providing product information,
addressing customer inquiries, and facilitating an enhanced customer experience at the point of sale. Their presence is a vital
component in directly building customer trust and strengthening brand engagement.
In addition to a solid digital approach and sales personnel, Avian Brands is committed to delivering excellent and responsive
distribution services. As of the end of 2025, Avian Brands’ distribution network spans all provinces in Indonesia, reaching
99 cities through 129 wholly-owned distribution centers, 15 mini distribution centers, and collaborations with 38 independent
distribution centers. With this infrastructure, Avian Brands successfully achieved a one-day delivery service target of up to
90%, creating high efficiency in meeting demands. Furthermore, the express delivery service, which enables delivery within
a maximum of 2 hours for specific products, is optimized to swiftly meet the needs of customers, particularly for new products,
thereby ensuring customers do not need to carry additional inventory burdens.
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Financial Overview
Total Current Assets
Avian Brands’ total current assets in 2025 reached IDR 7,821.84 billion, a decrease of 7.91% compared to IDR 8,493.36 billion
in 2024. This was mainly influenced by a 28.96% decrease in cash and cash equivalents, a 12.96% decrease in short-term
investment, and an 50.69% decrease in trade receivables from related parties.
The discussion in this financial review is based on information derived from the Consolidated Financial Statements of
PT Avia Avian Tbk and its Subsidiaries for the financial years ended December 31, 2025, and 2024, which have been audited by Total Non-Current Assets
the Public Accounting Firm of Teramihardja, Pradhono & Chandra (a member firm of Crowe Global) and received an unmodified Avian Brands’ total non-current assets in 2025 reached IDR 3,262.54 billion, an increase of 27.06% compared to IDR 2,567.61
opinion. billion in 2024. This was mainly influenced by a 16.84% increase in fixed assets, a 100.00% increase in long-term investments,
and a 63.85% increase in deferred tax assets.
Consolidated Statement of Financial Position Liabilities
(in million Rupiah, unless otherwise stated)
Assets Increase (Decrease)
(in million Rupiah, unless otherwise stated)
Description 2025 2024 Percentage
Nominal
Increase (Decrease) (%)
Description 2025 2024 Percentage Current Liabilities
Nominal
(%) Short-Term Bank Loans 7,187 9,189 (2,002) (21.79)
Current Assets Trade Payables
Cash and Cash Equivalents 1,654,810 2,329,491 (674,681) (28.96) Related Parties 355,641 362,941 (7,300) (2.01)
Restricted Cash in Bank and Time Deposits 0 3,000 (3,000) (100.00) Third Parties 428,566 424,760 3,806 0.90
Short-Term Investments 2,570,080 2,952,900 (382,820) (12.96) Other Payables
Trade Receivables Related Parties 710 487 223 45.79
Related Parties 8,047 16,319 (8,272) (50.69) Third Parties 29,869 24,136 5,733 23.75
Third Parties 1,622,216 1,445,418 176,798 12.23 Unearned Revenue
Other Receivables Related Parties 1,606 1,611 (5) (0.31)
Related Parties 104,759 83,283 21,476 25.79 Third Parties 545 599 (54) (9.02)
Third Parties 48,314 45,420 2,894 6.37 Accrued Expenses 293,400 252,661 40,739 16.12
Inventories 1,679,578 1,558,203 121,375 7.79 Short-Term Employee Benefits 115,086 108,618 6,468 5.95
Right of Return Assets 22,118 19,333 2,785 14.41 Taxes Payables 130,885 72,123 58,762 81.47
Advance to Suppliers 5,505 5,791 (286) (4.94) Customer Guarantee 0 3,000 (3,000) (100.00)
Prepaid Expenses 11,009 14,456 (3,447) (23.84) Provision for Sales Return 29,514 26,683 2,831 10.61
Prepaid Taxes 95,408 19,748 75,660 383.13 Lease Liabilities – Current Portion 64,399 64,777 (378) (0.58)
Total Current Assets 7,821,844 8,493,362 (671,518) (7.91) Total Current Liabilities 1,457,408 1,351,585 105,823 7.83
Non-Current Assets Non-Current Liabilities
Investment Properties 289,864 290,510 (646) (0.22) Lease Liabilities – Non-Current Portion 14,622 19,416 (4,794) (24.69)
Fixed Assets 2,255,297 1,930,297 325,000 16.84 Employee Benefit Liabilities 72,125 58,094 14,031 24.15
Right-of-Use Assets 185,630 180,949 4,681 2.59 Total Non-Current Liabilities 86,747 77,510 9,237 11.92
Intangible Assets 31,235 28,734 2,501 8.70 Total Liabilities 1,544,155 1,429,095 115,060 8.05
Long-Term Investments 371,958 0 371,958 100.00
Investment in Joint Venture 20,558 19,976 582 2.91 Total Liabilities
Deferred Tax Assets 59,222 36,144 23,078 63.85
Avian Brands’ total liabilities in 2025 reached IDR 1,544.16 billion, an increase of 8.05% compared to IDR 1,429.09 billion in 2024.
This was mainly influenced by the increase in total current liabilities and total non-current liabilities.
Estimated Claims for Income Tax Refund 11,382 29,432 (18,050) (61.33)
Other Non-Current Assets 37,389 51,571 (14,182) (27.50) Total Current Liabilities
Total Non-Current Assets 3,262,535 2,567,613 694,922 27.06 Avian Brands’ total current liabilities in 2025 reached IDR 1,457.41 billion, an increase of 7.83% compared to IDR 1,351.59 billion
Total Assets 11,084,379 11,060,975 23,404 0.21 in 2024. This was mainly influenced by an 81.47% increase in taxes payable, an 16.12% increase in accrued expenses, and
an 5.95% increase in short-term employee benefits.
Total Assets
Total Non-Current Liabilities
Avian Brands’ total assets in 2025 reached IDR 11,084.38 billion, an increase of 0.21% compared to IDR 11,060.97 billion in 2024. Avian Brands’ total non-current liabilities in 2025 reached IDR 86.75 billion, an increase of 11.92%
This was mainly influenced by an increase in total non-current assets. compared to IDR 77.51 billion in 2024. This was mainly influenced by a 24.15% increase in employee
benefits liabilities.
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Equity
(in million Rupiah, unless otherwise stated) (in million Rupiah, unless otherwise stated)
Increase (Decrease) Increase (Decrease)
Description 2025 2024 Percentage Description 2025 2024 Percentage
Nominal Nominal
(%) (%)
Equity Attributable to the Owners of the Parent Profit for the Year 1,744,020 1,663,699 80,321 4.83
Share Capital 619,536 619,536 0 0 Total Other Comprehensive Income (Loss) 129,690 (46,983) 176,673 376.04
Additional Paid-in Capital 7,793,218 7,793,218 0 0 Total Comprehensive Income for the Year 1,873,710 1,616,716 256,994 15.90
Treasury Shares (1,219,894) (574,552) (645,342) 112.32 Profit for the Year Attributable to:
Revaluation Surplus of Fixed Assets 240,755 229,406 11,349 4.95 Equity Holders of the Parent Company 1,747,462 1,664,341 83,121 4.99
Share of Other Comprehensive Income of Joint Non-Controlling Interests (3,442) (642) 2,800 436.14
85 85 0 0
Venture
Total Comprehensive Income for the Year Attributable to:
Changes in Fair Value of Investment in Government
17,624 (103,357) 120,981 117.05 Equity Holders of the Parent Company 1,877,154 1,617,351 259,803 16.06
Bonds
Non-Controlling Interests (3,444) (635) 2,809 442.36
Remeasurement Gain on Employee Benefit Liabilities 7,242 9,880 (2,638) (26.70)
Basic and Diluted Earnings per Share Attributable to
Retained Earnings
the Equity Holders of the Parent Company 29,11 27,16 1,95 7.18
Appropriated 124,000 124,000 0 0 (Full Rupiah)
Unappropriated 1,954,615 1,527,177 427,438 27.99
Sub-Total 9,537,181 9,625,393 (88,212) (0.92) Net Sales
Non-Controlling Interests 3,043 6,487 (3,444) (53.09) Avian Brands’ net sales in 2025 reached IDR 8,123.68 billion, an increase of 8.73% compared to IDR 7,471.36 billion in 2024.
This was mainly influenced an increase in sales in the architectural solutions and trading goods segments.
Total Equity 9,540,224 9,631,880 (91,656) (0.95)
Cost of Goods Sold
Avian Brands’ total equity in 2025 reached IDR 9,540.22 billion, a decrease of 0.95% compared to IDR 9,631.88 billion in 2024. Avian Brands’ cost of goods sold in 2025 reached IDR 4,545.43 billion, an increase of 10.04% compared to IDR 4,130.61 billion in
This was mainly influenced by a 112.32% increase in treasury shares. 2024. This was mainly influenced by an increase in the use of raw materials, which led to higher production costs.
Gross Profit
Consolidated Statement of Profit or Loss and Other Comprehensive Income Avian Brands’ gross profit in 2025 reached IDR 3,578.26 billion, an increase of 7.11% compared to IDR 3,340.75 billion in 2024.
This was mainly influenced by higher net sales recorded by Avian Brands.
(in million Rupiah, unless otherwise stated)
Increase (Decrease) Profit Before Income Tax Expense
Description 2025 2024 Percentage Avian Brands’ profit before income tax expense in 2025 reached IDR 2,175.82 billion, an increase of 5.18% compared to
Nominal IDR 2,068.59 billion in 2024. This was mainly influenced by an increase in Avian Brands’ business profit.
(%)
Net Revenues 8,123,685 7,471,356 652,329 8.73
Profit for the Year
Cost of Goods Sold (4,545,429) (4,130,606) 414,823 10.04 Avian Brands’ profit for the year in 2025 reached IDR 1,744.02 billion, an increase of 4.83% compared to IDR 1,663.70 billion in
Gross Profit 3,578,256 3,340,750 237,506 7.11 2024. This was mainly influenced by the increase in business profit and other income.
Operating Expenses
Selling Expenses (1,378,266) (1,318,417) 59,849 4.54 Other Comprehensive Income (Loss)
Avian Brands’ total other comprehensive loss in 2025 reached IDR 129.69 billion, an increase of 376,04% compared to 2024,
General and Administrative Expenses (277,680) (253,243) 24,437 9.65
which recorded other comprehensive loss of IDR 46,98 billion. This was mainly influenced by an increase in changes in fair value
Total Operating Expenses (1,655,946) (1,571,660) 84,286 5.36
of investment in government bonds.
Operating Profit 1,922,310 1,769,090 153,220 8.66
Other Income (Expenses) Total Comprehensive Income for the Year
Finance Income 239,934 285,105 (45,171) (15.84) Avian Brands’ total comprehensive income for the year in 2025 reached IDR 1,873.71 billion, an increase of 15.90% compared
Finance Charges (2,526) (2,539) (13) (0.51) to IDR 1,616.72 billion in 2024. This was mainly influenced by an increase in other comprehensive income compared to the
previous year, which recorded other comprehensive losses.
Share of Net Profit of a Joint Venture 582 2,678 (2,096) (78.27)
Net Impairment Gains (Losses) On Financial Assets (1,549) 158 (1,707) (1,080.38)
Other Income (Expenses) – Net 17,065 14,102 2,963 21.01
Profit Before Income Tax Expense 2,175,816 2,068,594 107,222 5.18
Income Tax Expense (431,796) (404,895) 26,901 6.64
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Consolidated Statement of Cash Flows Liquidity Ratio
Liquidity ratios are vital indicators used to assess Avian Brands’ ability to meet its short-term financial obligations in a timely
(in million Rupiah, unless otherwise stated) manner. These ratios reflect how effectively Avian Brands manages current assets to generate the cash or cash equivalents
necessary to settle debts maturing in the near term. A high level of liquidity demonstrates Avian Brands’ financial strength in
Increase (Decrease)
maintaining healthy cash flow and anticipating short-term funding needs without relying on external financing sources.
Description 2025 2024 Percentage
Nominal
(%)
In measuring liquidity, Avian Brands utilizes the current ratio, which is the comparison between total current assets and total
Net Cash Provided by Operating Activities 1,738,165 1,766,128 (27,963) (1.58) current liabilities. This ratio provides a clear overview of Avian Brands’ safety margin in fulfilling short-term financial obligations
Net Cash Provided by (Used in) Investing Activities (372,862) 1,262,474 (1,635,336) (129.53) using readily convertible assets. Liquidity ratios are monitored periodically as part of the financial risk management strategy to
Net Cash Used in Financing Activities (2,037,982) (1,933,622) 104,360 5.40
ensure operational stability and maintain the trust of all stakeholders.
Net Increase (Decrease) in Cash and Cash Equivalents (672,679) 1,094,980 (1,767,659) (161.43)
In 2025, Avian Brands’ current ratio decreased to 5.37X, compared to 6.28X in 2024. This was mainly influenced by a 7.91%
Cash and Cash Equivalents and Bank Overdraft at decrease in total current assets and a 7.83% increase in current liabilities.
2,320,302 1,225,322 1,094,980 89.36
the Beginning of the Year
Cash and Cash Equivalents and Bank Overdraft at
End of Year
1,647,623 2,320,302 (672,679) (28.99) Solvency Ratio
Solvency ratios serve as a primary indicator to assess Avian Brands’ capacity to meet all financial obligations, both short-term
and long-term. These ratios provide a comprehensive overview of the capital structure and Avian Brands’ financial resilience in
Net Cash Generated from Operating Activities
managing debt burdens sustainably. A strong solvency level reflects that Avian Brands has sufficient assets to cover all liabilities,
Net cash generated by the Avian Brands from operating activities in 2025 reached IDR 1,738.17 billion, a decrease of 1.58%
while indicating a stable and healthy financial foundation. By maintaining solvency ratios at an optimal level, Avian Brands
compared to IDR 1,766.13 billion in 2024. This was mainly influenced by an increase in payments to suppliers, employees,
ensures that operational activities and long-term growth strategies can be executed without excessive financial pressure.
as well as payments of corporate income tax.
In 2025, the Avian Brands’ solvency ratios, measured by comparing total non-current liabilities to total equity, total liabilities
Net Cash Provided from/(Used for) Investing Activities
to total equity, and total liabilities to total assets, showed increases to reach 0.01x, 0.16x, and 0.14x, respectively, compared to
Net cash used by the Avian Brands in investing activities in 2025 reached IDR 372.86 billion, a decrease of 129.53% compared
0.01x, 0.15x, and 0.13x in 2024. This was mainly influenced by an 8.05% increase in liabilities.
to IDR 1,262.47 billion in 2024. This was mainly influenced by a decrease in receipts from short-term investments.
Net Cash Used in Financing Activities
Net cash used by the Avian Brands in financing activities in 2025 reached IDR 2,037.98 billion, an increase of 5.40% compared
Collectability of Accounts Receivable
to IDR 1,933.62 billion in 2024. This was mainly influenced by an increase in treasury share acquisitions, lease liability payments,
The level of collectability of accounts receivable is a fundamental indicator in assessing Avian Brands’ financial management
and bank loan payments.
effectiveness, particularly in converting net sales into actual cash flow. This indicator reflects not only the efficiency of the
collection process but also serves as a benchmark for maintaining Avian Brands’ liquidity and operational continuity. By
measuring the accounts receivable turnover ratio and the average collection period, Avian Brands can systematically monitor
Solvency
its receivables management performance while identifying potential risks of payment delays that could impact financial
stability.
Avian Brands consistently prioritizes its commitment to meeting obligations toward creditors and suppliers by ensuring the
timely payment of maturing debts. This practice is not only vital for maintaining trust and harmonious business relationships
The accounts receivable turnover ratio is measured by dividing net sales by the balance of accounts receivable. This ratio
but also reflects financial discipline and integrity in Avian Brands’ operations. Consistency in fulfilling these obligations is part
indicates how frequently receivables are converted into cash within a year and reflects the efficiency of receivables management.
of Avian Brands’ ongoing effort to maintain its reputation as a reliable and responsible business partner.
Meanwhile, the average collection period measures the average time Avian Brands takes to receive payments from customers
after a sales transaction occurs. This indicator is calculated by dividing the trade receivables balance by the average daily net
Avian Brands’ ability to meet its financial obligations also serves as a critical indicator of its financial health and operational
sales, i.e., annual net sales divided by 365 days. Through this approach, Avian Brands can more accurately identify trends in
sustainability. To ensure optimal debt management, Avian Brands implements a strategic approach by monitoring key financial
customer payment behavior and design adaptive collection strategies to maintain healthy cash flow.
indicators, such as liquidity and solvency ratios. Liquidity ratios are utilized to assess Avian Brands’ ability to meet short-term
obligations, while solvency ratios reflect its capacity to manage long-term liabilities. Information regarding the performance of
Information regarding the collectability of the accounts receivable of Avian Brands for the last 2 years is described as follows:
these ratios for the last 2 years is described below:
(in X)
Description 2025 2024 Description 2025 2024
Receivables Turnover Ratio (X) 5.25 5.52
Liquidity Ratio
Average Collection Period (days) 69 66
Consolidated Total Current Assets to Consolidated Total Current Liabilities 5.37 6.28
Solvency Ratio
Consolidated Total Non-Current Liabilities to Consolidated Total Equity 0.01 0.01
Consolidated Total Liabilities to Consolidated Total Equity 0.16 0.15
Consolidated Total Liabilities to Consolidated Total Assets 0.14 0.13
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In 2025, the collectability of accounts receivable of Avian Brands based on the accounts receivable turnover ratio was recorded Capital Goods Investment Strategy and Objectives
at 5.25X, an increase compared to 5.52X in 2024. Meanwhile, the average collection period of Avian Brands’ receivables The realization of capital goods investment by Avian Brands is a strategic step aimed at improving operational efficiency,
increased to 69 days, compared to 66 days in 2024. This was mainly influenced by an increase in receivables from third parties accelerating product innovation, and improving competitiveness in an ever-evolving market. These investments are aimed
in line with increased sales. not only at short-term requirements but also to serve as a vital foundation for creating sustainable advantages by reinforcing
production capabilities, adopting new technologies, and improving service quality.
Capital Structure Investment Type and Value
Avian Brands’ capital goods investment includes the development of manufacturing facilities, purchase of fixed assets, and
Capital structure means the composition of debt and equity utilized by Avian Brands to finance its operational and investment development of technology infrastructure. The value of capital goods investment realized in 2025 reached IDR 483.77 billion,
activities. This structure’s balance reflects the Management’s strategy in managing risk and ensuring sustainable growth, an increase of 18.99% compared to IDR406.55 billion in 2024. Details of the Avian Brands’ capital goods investment in the last
serving as critical foundation to evaluate Avian Brands’ financial capacity and long-term stability. 2 years are described below:
Policy and Basis for Determining Capital Structure (in million Rupiah, unless otherwise stated)
The policies and basis for determining Avian Brands’ capital structure are designed to maintain financial stability and ensure
Increase (Decrease)
availability of adequate capital to support operational continuity and long-term business growth. To achieve these objectives,
Description 2025 2024 Percentage
Management actively evaluates and adjusts the capital structure in alignment with macroeconomic dynamics, market Nominal
conditions, and Avian Brands’ strategic requirements. (%)
Direct Acquisition
Capital structure management is conducted through a strategic and adaptive approach, which includes balancing dividend Land 6,709 0 6,709 100.00
distribution policies against internal funding requirements and the establishment of reserves as a risk mitigation measure
Building and Improvements 308 2,586 (2,278) (88.09)
and support for future expansion plans. Furthermore, Management considers various alternative financing sources, whether
Machinery and Equipment 5,441 8,448 (3,007) (35.59)
through the issuance of new shares to strengthen equity or the selective utilization of loans to pursue value-added investment
opportunities. In every decision-making process, Management carefully considers risk levels, the cost of capital, and the Installations 328 420 (92) (21.90)
resulting impact on achieving an optimal capital structure. Vehicles 49,861 62,388 (12,527) (20.08)
Office Equipment 44,209 39,684 4,525 11.40
By implementing a disciplined and long-term oriented capital structure policy, Avian Brands strives to maintain financial Assets Under Construction 376,916 293,025 83,891 28.63
credibility, enhance investor confidence, and strengthen its resilience and competitiveness in facing evolving market challenges
Total 483,772 406,551 77,221 18.99
and dynamics.
Capital Structure Material Commitments related to Capital Goods Investment
Information regarding Avian Brands’ capital structure over the past 2 years is described below:
(in million Rupiah, unless otherwise stated)
Throughout 2025, we did not have any material commitments related to capital goods investment, so we have not presented
information on the name of the counterparty, the purpose of the commitments, the expected source of funds to fulfill the
Increase (Decrease) commitments, the currency in which the commitment is denominated, and the measures we plan to hedge the risk of the
Description 2025 2024 Percentage related foreign currency position.
Nominal
(%)
Total Liabilities 1,544,155 1,429,095 115,060 8.05
Realization on Use of Proceeds from Public Offering
Less: Cash and Cash Equivalents 1,654,810 2,329,491 (674,681) (28.96)
Net Payables (110,655) (900,396) 789,741 87.71 Avian Brands presents the report on the realization of the use of proceeds from the public offering as part of its obligation to
Total Equity 9,540,224 9,631,880 (91,656) (0.95) maintain transparency toward the public and Shareholders. All proceeds obtained have been, and will be, allocated prudently,
Net Debt to Equity Ratio (%) N/A*) N/A*) 0 0 measurably, and transparently in accordance with the utilization plan formulated and disclosed in the prospectus. Management
*)
Not relevant due to cash and cash equivalents surplus position.
of these funds not only reflects Avian Brands’ commitment to GCG pillars but also supports the execution of various strategic
initiatives designed to strengthen capital structure, enhance operational capabilities, and create sustainable added value for
all stakeholders. Reports on the realization of the use of proceeds from Avian Brands’ public offering as of December 31, 2025
is described below:
Capital Goods Investment (in million Rupiah, unless otherwise stated)
Realized Value of Public Offering Proposed Use of Proceeds as per the Prospectus Realization of Use of Proceeds as per the Prospectus
Avian Brands consistently realizes investments in capital goods each year as part of its long-term strategy to strengthen its Remaining
Proceeds
Effective Total Principal Principal
business foundation and support sustainable growth. Through capital goods investment, Avian Brands ensures the availability Description
Date Proceeds
Costs of Net Value
Working Capital Payment Working Capital Payment
from
Public of Public Total Total Public
from Public Capital Expenditures of Bank Capital Expenditures of Bank
of reliable facilities and technology to support product quality, accelerate innovation, and enhance productivity and Offering
Offering Offering
Debt Debt
Offering
competitiveness amidst industry dynamics. Every procurement process is conducted with careful consideration of the asset’s
Avian Brands 2,979,500 702,144 550,000 4,231,644 2,979,500 451,577 550,000 3,981,077 250,567
relevance to operational needs and growth projections, ensuring that these investments provide maximum and sustainable Initial Public November
5,766,000 119,356 5,646,644
Offering 30, 2021 PT Tirtakencana
benefits for Avian Brands. Tatawarna
950,000 85,000 380,000 1,415,000 950,000 85,000 380,000 1,415,000 0
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Dividend Policy and Distribution Material Information Concerning Investment, Expansion, Divestment,
Merger/Consolidation, Acquisition, and/or Debt/Capital Restructuring
Dividends represent a form of appreciation from Avian Brands to its Shareholders for their continued support and trust. Thus,
dividend policy determination is conducted prudently, taking into account various strategic and financial aspects. This not only In 2025, Avian Brands conducted the following investments:
reflects Avian Brands’ commitment to providing value to Shareholders, but also serves to maintain a balance between profit
distribution and internal funding requirements to support long-term sustainable growth.
Parties to the Transaction Avian Brands and PT Dextone Lemindo
Dividend Policy Transaction Date March 13, 2025
Avian Brands’ dividend distribution policy is formulated based on the provisions in the Articles of Association and is determined Transaction Value IDR275.84 billion
through approval at the General Meeting of Shareholders (“GMS”). Avian Brands stipulates that the dividend payout to Investment through Avian Brands’ subscription of new shares in PT Dextone Lemindo, amounting
Transaction Object
Shareholders shall be at least 50.00% of distributable net profit, while consistently considering cash flow capacity and future to 16.67%.
investment needs. Furthermore, dividend distributions are subject to prevailing Indonesian laws and regulations, and other Nature of Affiliation Transaction with a third party.
financial requirements.
To create synergies capable of delivering substantial operational performance growth for both
Avian Brands and Dextone. Furthermore, this transaction represents the realization of Avian
The decision regarding the amount and timing of dividend payments is based on the recommendations of the Board of Rationale for the Transaction Brands’ commitment to sustainable growth, both organically and inorganically (through strategic
Directors, after considering several strategic factors, such as net profit levels, operational performance, financial condition, partnerships), to solidify its position as the national leader in the decorative paint market and to
liquidity, capital expenditure requirements, expansion and acquisition plans, business prospects, and compliance with legal strengthen its overall business ecosystem.
and regulatory requirements. This approach aims to strike a balance between delivering added value to Shareholders and Explanation Regarding Fairness This transaction was conducted on an arm’s length basis, taking into account market prices and
of Transaction the best interests of Avian Brands, without causing harm to any party.
ensuring sufficient funds to support long-term business growth.
Compliance with Relevant Compliance with all relevant rules and regulations, i.e., POJK No. 31/POJK.04/2015 concerning
Final dividends may be declared in Rupiah if Avian Brands records a positive retained earnings balance in the current year. Regulations the Disclosure of Information or Material Facts by Issuers or Public Companies.
As stipulated in the Articles of Association and resolved in the Annual GMS, a portion of net profit after tax must be allocated The Board of Directors states that this transaction has undergone adequate procedures to ensure
to a reserve fund until it reaches at least 20.00% of the total issued and fully paid-up capital, unless decided otherwise in the Statement from the Board its execution in accordance with generally accepted business practices, including the application
Annual GMS. In addition to final dividends, Avian Brands maintains the flexibility to distribute interim dividends before the of the arm’s length principle. This process was also overseen by the Board of Commissioners
of Commissioners, Board of and the Audit Committee, which performed their oversight and review functions to ensure the
end of the financial year, provided that such distribution does not reduce net assets below the total of issued and fully paid-up Directors, and Audit Committee transaction was conducted transparently, objectively, and in alignment with good corporate
capital plus the required reserve. governance standards.
Dividend Announcement and Distribution Apart from the above transaction, in 2025, neither Avian Brands nor its Subsidiaries conducted any expansion, divestment,
Pursuant to the resolution of the Annual GMS dated April 10, 2025, the Shareholders approved the distribution of a cash
merger, acquisition, and/or debt/capital restructuring.
dividend for the financial year of 2024 in the amount of IDR22.- per share or in the amount of IDR 1,337,792,285,500.-, with
the condition that such cash dividend shall be set off with the interim dividend for the financial year of 2024 in the amount of
IDR11.- per share or in the amount of IDR 671,978,173,900.- which had been paid by the Avian Brands to the Shareholders on
Material Transactions Containing Conflicts of Interest or Transactions with Affiliated Parties
November 21, 2024, such that the remaining cash dividend for the financial year 2024 payable on April 30, 2025, by the Avian
Brands was IDR11.- per share or in the amount of IDR 665,814,111,600.-. Information regarding the Avian Brands’ dividend
Information on Material Transactions Containing Conflict of Interest
distribution for the last 2 years is described below:
Throughout 2025, Avian Brands did not conduct any transactions with conflicts of interest.
(in million Rupiah, unless otherwise stated)
Information on Affiliated Party Transactions
Description 2025 2024 In 2025, Avian Brands entered into several affiliated transactions that constitute business activities conducted to generate
operating revenue and are carried out on a regular, recurring, and/or continuous basis, in accordance with the explanation of
Declared Dividend
balances and transactions with related parties set out in the Consolidated Financial Statements of PT Avia Avian Tbk and its
Final Dividend N/A*) 665,814
Subsidiaries for the financial years ended December 31, 2025 and 2024, as follows:
Interim Dividends 654,210 671,979
Total 654,210 1,337,792
Related Parties Nature of Relationship Type of Transaction
Dividend per Share (Full Rupiah) 11 22
Dividend Payout Ratio (%) N/A*) 80,41 PT Avia Avian Industri Pipa Have the same key management personnel and Sales of goods, purchase of tools and building
under common control entity. materials, office building rent income, and
Total Dividend Paid per Financial Year expense reimbursement.
Final Dividend 665,814 676,163 PT Bangun Bersama Solusindo Investment in joint venture. Sales of goods, office building rental income,
Interim Dividends 654,210 671,979 and purchases of building materials.
Total 1,320,024 1,348,142 PT Caturkarda Depo Bangunan Tbk Have the same key management personnel and Sales of goods.
under common control entity.
*) The value of Final dividends and dividend payout ratio for 2025 is not yet available pending the resolution of the Annual GMS for the financial year of 2025 which
will be convened in 2026. PT CMN Indonesia Have the same key management personnel and Purchase of merchandise.
under common control entity.
PT Kencana Lintasindo Have the same key management personnel and Sales of goods, purchase of tools and building
Internasional under common control entity. materials, and expense reimbursement.
116 2025 Annual Report 2025 Annual Report 117
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(in million Rupiah, unless otherwise stated)
Related Parties Nature of Relationship Type of Transaction
Percentage of Cost of Goods Sold
PT Megadepo Indonesia Have the same key management personnel and Sales of goods and purchases of tools and Related Party Balance in (%)
under common control entity. building materials. 2025 2024
Cost of Goods Sold
2025 2024
PT Mitra Mulia Makmur Have the same key management personnel and Sales of goods, purchase of supplies and building
under common control entity. materials, and factory building rent income. Purchase of Inventories 2,033,095 1,825,367 44.73 44.19
PT Panca Kalsiumindo Perkasa Have the same key management personnel and Sales of goods, purchases of tools and building
under common control entity. materials, and production services. (in million Rupiah, unless otherwise stated)
PT Sarana Depo Kencana Have the same key management personnel and Sales of goods and building rent.
under common control entity. Percentage to General and
Related Party Balance in General and Administrative Expense (%)
2025 2024
PT Wahana Lentera Raya Have the same key management personnel and Sales of goods, purchase of tools and building Administrative Expense
under common control entity. materials, office building rent income and 2025 2024
expense reimbursement.
Apartment Rent Expense 285 282 0.10 0.11
PT Kasakata Kimia Have the same key management personnel and Sales of goods, office building rent income, and
under common control entity. expense reimbursement.
(in million Rupiah, unless otherwise stated)
PT Sarana Daya Hutama Under common control entity. Office building rent income and expense
reimbursement. Percentage to Total Other Income
Related Party Balance in (Expenses) – Net (%)
PT Umaq Tukung Mandiri Utama Under common control entity. Sales of goods, office building rent income, and 2025 2024
Other Income (Expenses) – Net
expense reimbursement. 2025 2024
The Board of Commissioners and Key management personnel. Salaries and other short-term
Factory and Office Building Rental Income 4,508 3,936 26.42 27.91
the Board of Directors compensation benefits
Fairness of Transactions
Realization of Related Party Transactions and Balances In the transactions, we do not have any special purpose that potentially violates the applicable regulations, including not
The realization of related party transactions and balances on our financial performance is described as follows: resulting in conflicts of interest for us or the majority or minority Shareholders.
(in million Rupiah, unless otherwise stated)
Compliance with Related Rules and Regulations
Percentage of Total Assets (%) We have complied with the relevant rules and regulations:
Related Party Balance in Assets 2025 2024 1. Financial Services Authority Regulation No. 42/POJK.04/2020 concerning Affiliated Transactions and Conflict of Interest
2025 2024
Transactions; and
Trade Receivables 8,047 16,319 0.07 0.15 2. Financial Services Authority Regulation No. 17/POJK.04/2020 concerning Material Transaction and Change of Business
Other Receivables 104,759 83,283 0.95 0.75 Activities.
Prepaid Expenses 25 25 0.00 0.00
Right of Use Assets 55,841 52,622 0.50 0.48
Statement from the Board of Commissioners and Board of Directors on Related Party and
Affiliated Party Transactions
Total 168,672 152,249 1.52 1.38
Through the mechanism of transaction and disclosure of reports, the Board of Directors declares that related party transactions
and affiliated party transactions conducted by Avian Brands have undergone adequate procedures and are conducted in
(in million Rupiah, unless otherwise stated)
accordance with generally accepted business practices with arm’s-length principles. In addition, the Board of Commissioners,
Percentage of Total Liabilities (%) assisted by the Audit Committee, has reviewed and approved the related party transactions and affiliated party transactions
Related Party Balance in Liabilities 2025 2024 above, and has ensured that the transactions were conducted in accordance with generally accepted business practices with
2025 2024
arm’s-length principles.
Trade Payables 355,641 362,941 23.03 25.40
Other Payables 710 487 0.05 0.03 Related Party and Affiliated Party Transactions Requiring Approval from Independent
Unearned Revenue 1,606 1,611 0.10 0.11 Shareholders
Lease Liabilities 55,841 52,622 3.62 3.68 There were no related party transactions and affiliated party transactions conducted by Avian Brands that required the approval
of Independent Shareholders.
Total 413,798 417,661 26.80 29.22
(in million Rupiah, unless otherwise stated)
Comparison of Target and Realization in 2025
Percentage of Net Revenues
Related Party Balance in Net Revenues 2025 2024 (%) Information related to the business growth target and realization that we aimed to achieve in 2025 is described below:
2025 2024
Revenue 50,259 60,083 0.62 0.80 Description Unit 2025 Target 2025 Realization Achievement (%)
Total Production Metric Tons 229.550 227.266 99,00
Net Revenues Million Rupiah 8.136.000 8.123.685 99,85
118 2025 Annual Report 2025 Annual Report 119
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In terms of capital, Avian Brands maintains a conservative and resilient approach by relying on internal funding. A capital
Description Unit 2025 Target 2025 Realization Achievement (%)
structure strategy that prioritizes internal funding allows Avian Brands to maintain financial flexibility, minimize financing
Profit for the Year Million Rupiah 1.695.000 1.744.020 102,89 risks, and anchor long-term stability. Nonetheless, Avian Brands remains open to utilizing external funding on a selective and
Capital Structure prudent basis, taking into account healthy financial ratios and rigorous risk assessments to support strategic expansion plans.
Net Debt to Equity Ratio % N/A*) N/A*) -
Furthermore, Avian Brands is committed to consistently delivering added value to Shareholders. For 2026, Avian Brands
*) Not relevant due to cash and cash equivalents surplus position.
maintains its commitment to a dividend payout plan of at least 50% of net profit, consistent with its established dividend policy
This approach strikes a balance between providing competitive returns to Shareholders and maintaining adequate internal
capital as a foundation for sustainable growth in the future.
Business Prospects
Moving forward, the global economic outlook is projected to remain in a moderation phase, in line with continued policy Target Achievement Strategy
adjustments and international trade dynamics. Global economic growth is projected to slow to approximately 3.1% in 2026,
with pressures still stemming from policy uncertainty and protectionist tendencies, although the impact of tariff policies In anticipation of the 2026 projections, Avian Brands has formulated a comprehensive and adaptive target achievement
appears relatively more controlled than initially estimated. Conversely, global inflation is expected to continue its decline to strategy in response to the evolving business landscape. This strategy considers various external challenges and growth
around 3.7% in 2026, creating room for monetary policy stabilization, despite global trade fragmentation still limiting the opportunities arising from changing market trends, customer needs, and an increasingly competitive paint industry landscape.
growth rate of international trade volumes.
The core focus of this strategy includes strengthening competitiveness through product and process innovation, optimizing
In the national context, the government maintains positive views on Indonesia’s economic prospects in 2026, with upside operational efficiency, and enhancing integrated distribution and marketing capabilities. Additionally, Avian Brands positions
risks dominating over downside risks. In line with this optimism, Indonesia’s economic growth in 2026 is targeted to reach sustainability and digital transformation as key pillars for long-term growth. Detailed information on the target achievement
5.4%, supported by strengthening domestic demand, increased investment, continued structural reforms, and significant strategy of Avian Brands for 2026 is outlined as follows:
achievements in the international trade agenda. Maintained macroeconomic stability, controlled inflation, and close 1. Maximizing the role of distribution centers to increase market penetration and establishing new centers in regions with
coordination between fiscal and monetary policies serve as primary foundation in sustaining growth momentum. less-than-optimal product distribution;
2. Completing product portfolios in each category and price point to meet market needs;
As the economic outlook improves, the industrial sector, including the paint industry, is expected to see expanding growth 3. Enhancing brand awareness through various marketing programs tailored to the characteristics of specific products,
opportunities. Increased construction activity, a strengthening property sector, and continued infrastructure and housing regions, and customer segments;
development are key drivers for paint product demand. Furthermore, the room for domestic consumption growth remains 4. Improving customer service levels by continuously strengthening “one-day delivery” and “express delivery” services;
relatively large, considering that national paint consumption is currently around 1.3 million metric tons, or approximately 5. Monitoring, evaluating, and enhancing customer loyalty programs, such as Avian Brands Priority Customer and Avian
4.2 kilograms per capita, lower than regional peers such as Thailand and Malaysia with 8–12 kilograms per capita. With the Brands Partner Program for contractors and retail stores;
support of conducive policies, higher public purchasing power, and industrial focus on product innovation and quality 6. Continuing market expansion by reaching out to segments outside retail and modern shops, such as project, new build,
improvement, the national paint industry is in an increasingly strategic position to capitalize on growth opportunities in 2026. and business-to-business segments;
7. Strengthening innovation and development, both for existing products (cost saving) and new products; and
Source:
• World Economic Outlook October 2025 edition, International Monetary Fund;
8. Constantly upgrading manufacturing facilities and other supporting facilities, including the Enterprise Resource Planning
• Public Information of the Advisory Council to the President of the Republic of Indonesia, accessible via the link https://wantimpres.go.id/id/newsflows/ (“ERP”) System in use with appropriate new technology to improve efficiency.
industri-cat-lesu-produsen-minta-pemerintah-batasi-impor-produk-jadi/; and
• Public Information of the Coordinating Ministry of the Econominc Affairs of the Republic of Indonesia, accessible via the link https://www.ekon.go.id/
publikasi/detail/6730/stabilitas-terjaga-prospek-pertumbuhan-ekonomi-2026-semakin-menguat.
2026 Projection
Entering 2026, Avian Brands has developed performance projections as a strategic guideline to drive sustainable growth and
strengthen business fundamentals amidst evolving market dynamics. These projections are based on a comprehensive analysis
of industry trends, macroeconomic conditions, internal strengths, and external opportunities of Avian Brands. A primary focus
for Avian Brands is to achieve double-digit sales growth, driven by expansion within the architectural solutions segment. This
operating segment continues to demonstrate significant potential in line with increasing demand in the national architecture
and construction sectors.
In tandem with sales growth, Avian Brands targets an increase in production capacity to meet expanding market needs.
The double-digit production growth target reflects Avian Brands’ operational readiness to fulfill demand while maintaining
a competitive edge in the industry. Meanwhile, sustained profitability remains a top priority, realized through improving
operating margins via comprehensive cross-functional efficiency programs and business process optimization.
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Avian Brands’ Strategic Plans Short-term Strategic Plans
As part of its efforts to bolster competitiveness and create sustainable growth, Avian Brands has formulated comprehensive, c. Water Usage and Waste Management 7. IT System Development
• Adopting a cooling system designed to significantly reduce Avian Brands continues to improve its IT system implementation
long-term strategic plans. These plans are designed not only to ensure the achievement of annual targets but also to build to strengthen operational reliability, information security, and
water consumption;
a robust foundation for long-term business viability. In defining its strategic direction, Avian Brands considers fundamental • Implementing rainwater harvesting programs to support system integration in supporting business activities. Avian Brands
aspects such as operational restructuring, product diversification, digital transformation, environmental sustainability, and operational needs and reduce dependence on conventional implements Vulnerability Management to analyze, identify, and
sources of clean water; categorize the level of vulnerability risk in information systems, so
stakeholder value enhancement. that potential threats are mitigated in a more structured manner.
• Avian Brands operates a Sewage Treatment Plant (“STP”)
In addition, Backup System Management is reinforced through
to manage domestic waste and an Industrial Wastewater
With an adaptive approach to market dynamics and shifting customer needs, Avian Brands continues to place innovation, stricter monitoring of backup schedules and continuous system
Treatment Plant (“IPAL”) using filtration and ozonation
maintenance to ensure data availability and security as part of
efficiency, and business resilience as its primary strategic pillars. Information concerning Avian Brands’ short-term and long- technologies, to ensure that the industrial wastewater efforts to maintain operational continuity. On the other hand,
term strategic plans are described as follows: discharged meets the quality standards in accordance with Avian Brands also raises user awareness of cyber threats through
regulations; and education programs and the implementation of more disciplined
• Implementing various efficiency and reuse strategies security procedures, thereby fostering a strong cyber security
through the Reduce, Reuse, and Recycle (“3R”) programs. culture to protect Avian Brands’ data systems and integrity.
6. Employee Development 8. ESG Development
Short-term Strategic Plans Human Resources (HR) development remains a top priority that In an effort to reinforce its sustainability commitment,
Avian Brands has formulated focused and adaptive short-term strategic plans to ensure the achievement of operational and financial targets Avian Brands implements in its short-term strategic plan. Avian Avian Brands continues to prioritize the development of
Brands implements various programs to support the improvement environmentally friendly products and the improvement of ESG
in the near term. This strategy encompasses production process optimization, distribution strengthening, efficiency enhancement, as well as
of HR quality through the following strategies; performance as part of its short-term strategy. Avian Brands
the utilization of technology and human resources development to support sustainable growth in the coming year. Avian Brands’ short-term
a. Talent Planning and Management Systems; strives to increase the number of products with environmental
strategic plans are further described as follows: certification, including GLS certification, which has been obtained
b. Corporate Culture Infiltration and Campaigns; and
1. Production Development via the Cirebon Plant a. DC Kotamobagu; c. Employer Branding Program. for 40 products, as a form of strengthening sustainability standards
Avian Brands has designated the optimization of its water- b. DC Malang Selatan; In addition to improving employee quality, Human Resources in its product portfolio. In addition, Avian Brands also targets to
based paint plant in Cirebon as a primary focus of its short-term c. DC Tangerang Selatan; improve the quality of sustainability governance by strengthening
development also seeks to improve their skills to face the
strategy. This step is taken as the utilization rates of the Sidoarjo d. DC Morowali; and ESG practices in line with the assessment methodologies of
challenges of a dynamic market.
and Serang plants have reached approximately 76%, nearing e. DC Bekasi Utara. international rating agencies, such as EcoVadis and Sustainalytics.
This measure is expected to reinforce Avian Brands’ reputation
the ideal maximum capacity threshold of 80%. By operating the 5. Plant Development
in sustainable business practices while increasing stakeholder
water-based facility in Cirebon with an initial capacity of 100,000 Avian Brands continues to develop the manufacturing
confidence in Avian Brands’ sustainability performance.
metric tons in its first year of operation in 2026, Avian Brands will infrastructure at its existing plants to support operational
significantly strengthen its production infrastructure. This strategy efficiency and sustainability. This development includes
is aimed at ensuring capacity readiness to respond to growing upgrading manufacturing technology, strengthening operational
market demand, while simultaneously enhancing operational systems, and taking concrete steps to maintain product quality Long-term Strategic Plans
resilience and flexibility, bringing Avian Brands’ total national while minimizing environmental impact. Some of Avian Brands’
production capacity to approximately 225,000 metric tons. strategic steps related to the development of manufacturing Avian Brands has established comprehensive and visionary long-term strategic measures to ensure business sustainability and bolster
2. Addition of Green Label Products facilities are described below: competitiveness amidst evolving industry dynamics. These strategies are designed not only to drive sustainable growth but also to reinforce
Avian Brands continues to expand its portfolio of environmentally a. Emissions and Energy Efficiency the operational foundation, expand market share, and enhance Avian Brands’ value over an extended time horizon. With an adaptive and
friendly products. In 2025, Avian Brands has added 5 new GLS • Modifying cooling tower pumps to optimize energy use, innovation-based approach, Avian Brands is committed to creating robust and meaningful growth for all stakeholders. Avian Brands’ long-
certified products, including: resulting in more efficient energy consumption; term strategic plans are further described as follows:
a. Avitex TOP; • Repositioning pipelines and optimizing air compressor 1. Optimization of the Cirebon Plant Development 3. Development of Modern Laboratories and Expert Chemists
b. No Drop Cat Dasar Anti Bocor; systems through hydraulic system substitutions, successfully Avian Brands has commenced the construction of a new for Product Innovation
c. Avitex Wizz Cat Dasar; reducing electricity consumption and contributing to manufacturing facility in Cirebon, specifically designed to optimize Continuous investment in the development of modern
d. No Drop Plamir Anti Bocor; and greenhouse gas emission reductions; production capacity readiness to meet projected demand growth laboratories is a priority to support RDI activities, allowing Avian
e. Sunguard Basic. • Installing solar-powered street lighting in the plant area as over the next 10 years. The development of this plant serves Brands to stay updated with the latest technology and innovation
3. Launch of New Products part of the initiative to reduce carbon emissions and use as a strategic move to strengthen Avian Brands’ operational requirements related to its products. With its facilities that are
To complement its product portfolio and address the needs of renewable energy; foundation, enhance production flexibility and efficiency, and equipped with the latest technology and competent chemists,
the communities, Avian Brands launched several new products • Utilizing solar panels at manufacturing facilities and maintain supply chain reliability amidst industry shifts. The Avian Brands will be able to:
in 2025. These products are designed to expand Avian Brands headquarters, thereby supporting the use of clean energy; optimization of the Cirebon plant development is expected to a. Develop innovative new products according to market needs;
market segmentation. The new products successfully launched by • Partnering with renewable energy providers through ensure the continuous availability of adequate capacity while b. Ensure product quality remains consistent and in line with
Avian Brands throughout 2025 are: Renewable Energy Certificates (“RECs”) sourced from supporting Avian Brands’ ability to consistently fulfill market international standards; and
a. Sunguard Basic; the Cirata and Saguling hydropower plants, supporting needs in alignment with its long-term growth trajectory. c. Accelerate the timing of product launches to the market to
b. Avian Platinum; the supply of electricity from renewable energy; 2. Utilization of Advanced Technology for Production Efficiency outpace competitors.
c. No Drop Spray; • Improving gas usage efficiency by modifying the thermo Avian Brands will continue to utilize the most advanced technology 4. Improving Supply Chain Quality
d. No Drop Cat Dasar Anti Bocor; oil line in the resin product reactor and using reactor by upgrading manufacturing machinery and equipment to Strengthening of supply chain is a key pillar to support operational
e. No Drop Kolam Ikan 2 Komponen; temperature through condensate tank for boiler temperature improve operational efficiency. This includes: resilience. The efforts that will be undertaken include:
f. No Drop Plamir Anti Bocor; feedback; and a. Reduction of raw material consumption by utilizing more a. Establishing strategic partnerships with suppliers of
g. No Drop Butyl Tape Anti Bocor; • Undertaking various initiatives to improve production precise technology; high-quality raw materials to maintain a stable supply;
h. Boyo Wood Stain 2in1; efficiency, by optimizing production processes, increasing b. Energy saving with more energy-efficient engines; b. Optimizing cooperation with freight forwarding vendors to
i. Avian Epoxy Filler; the use of more modern machinery with low-emission c. Waste reduction to support more environmentally friendly ensure efficient product delivery; and
j. Avitex Wizz Cat Dasar; technology, improving packaging efficiency, operational operations; c. Implementing a digital-based supply chain management
k. Avitex TOP; and energy efficiency, and transitioning to renewable energy. d. Improving machine utilization to optimize manufacturing system to improve visibility and operational efficiency.
l. Giant Mortar 225 – Plamir Instan Ekonomis. b. Manufacturing capacity; and
4. Addition of Distribution Center (“DC”) • Increased productivity at the Merapi plant for water-based e. Utilizing reuse and recycling to maximize the value of
Avian Brands continues to expand its distribution network to paint products by 9%, thanks to a number of initiatives and production waste.
support growth in the domestic market. In 2025, Avian Brands has more efficient production process automation; and This not only reduces operational costs but also increases product
opened new distribution centers, including: • Construction of mortar production facilities at the Tuban site, competitiveness in the market, with maintained quality at a more
to increase mortar production capacity by 23%. competitive price.
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Long-term Strategic Plans
Changes in Laws and Regulations with Significant Impacts on Avian Brands
5. Integrating the ESG as the Foundation of Avian Brands’ 7. Inorganic Business Development Avian Brands proactively monitors, reviews, and adapts to every change in laws and regulations that potentially impact business
Operations Avian Brands will adopt business development strategies through
Avian Brands will ensure that ESG principles become the inorganic measures, among others:
aspects or legal compliance. This step forms a part of its commitment to maintaining governance integrity and ensuring that all
foundation of all business activities. Some of the main steps that a. Adding new business lines that complement Avian Brands’ business activities remain consistently aligned with prevailing regulations. This adaptive approach not only strengthens timely
will be realized include: ecosystem as a paint manufacturer; and compliance but also enhances Avian Brands’ ability to anticipate the dynamics of an evolving legal environment, thereby
a. Expanding the variety of environmentally friendly products b. Acquiring or collaborating with other companies with strategic
and processes, thereby opening up opportunities for access value to strengthen core business.
supporting long-term business continuity and resilience. Laws and regulations that were amended and/or recently enacted by
to green finance, such as green bond issuance, as well as 8. Integrated IT System regulators throughout 2025 that significantly affect Avian Brands are described below:
improving appeal to sustainability-focused investors; Development of IT systems will serve as the backbone for more
b. Ensuring regulatory compliance, including information integrated operations. Therefore, Avian Brands has set several
disclosure and implementation of business ethics; and focuses that will be realized in the framework of IT development, Regulations Impacts on Avian Brands Adjustments Made
c. Improving Avian Brands’ reputation in the international among others:
market by taking part in sustainability certifications and ESG a. IT system upgrade to support seamless and digital-based Government Regulation No. 28 of 2025 Changes to the licensing system, formerly For licenses already issued, no adjustments
assessments. business; regarding the Implementation of Risk-Based known as Online Single Submission Risk-Based are required as they are automatically
6. Human Resources Development b. Improvement of customer data security and personal data Business Licensing. Approach (“OSS RBA”), which has become migrated by the system. However, new
Avian Brands realizes that HR is a key asset that serves as the protection in accordance with applicable regulations; and Online Single Submission - Perizinan Berusaha license applications must be adjusted in
foundation and driving force for its business development c. Implementation of data analytics for faster and more accurate Berbasis Risiko (“OSS PBBR”) under this accordance with the prevailing procedures.
and sustainability going forward. Therefore, Avian Brands will decision-making. Government Regulation. While in general
implement various strategies for HR development, including: 9. Distribution Network Expansion
system remains the same, the licensing
a. Increasing employee engagement through programs that To reach all parts of Indonesia, Avian Brands will continue to
encourage employee participation; expand its distribution network. This strategy includes opening application processes therein have changed.
b. Improving productivity through skills training and new DCs in strategic locations, allowing products to reach Minister of Environment/Environmental A shift in the jurisdiction for environmental Currently, no immediate adjustments are
development; and customers more quickly and efficiently. Protection Agency Regulation No. 22 of license processing, previously under required. However, any future amendments
c. Attracting and retaining top talents to support the future 10. Support from Company Value: CinTA 2025 regarding the Jurisdiction to Issue the Central Government (Ministry of to Environmental Documents shall fall under
growth of Avian Brands. The strategic initiatives undertaken by Avian Brands will be Environmental Approvals. Environment), is now under the Provincial the jurisdiction of the Provincial authority.
supported by the implementation of its core values, namely the Government (Environmental Office).
CinTA.
Statistics Indonesia (BPS) Regulation No. 7 Updates to the KBLI, i.e., the business sector KBLI adjustments must be implemented by:
of 2025 regarding the Indonesian Standard classification code in Indonesia. The impact amending Avian Brands’s Deeds of Articles of
All strategic initiatives executed by Avian Brands represent its commitment to fostering sustainable growth, both in terms Industrial Classification (“KBLI”). on Avian Brands includes changes to, and Association, followed by adjustments within
of revenue (top line) and net profit (bottom line), to generate optimal value and returns for all stakeholders. This is achieved the splitting of, certain KBLI codes. OSS system.
through comprehensive strengthening of financial performance, including revenue enhancement supported by effective cost
control and the maintenance of healthy balance sheet through working capital optimization, prudent debt management, and
equity reinforcement. Material Information After the Financial Statements Date
As the primary driver of revenue growth, Avian Brands relies on its RDI capabilities to develop innovative and adaptive products There is no material information that occurred in Avian Brands following the publication date of the PT Avia Avian Tbk and
that align with dynamic market needs. Furthermore, Avian Brands continues to explore collaboration opportunities and Subsidiaries’ Consolidated Financial Statements for the financial year ended December 31, 2025 and 2024.
strategic partnerships while expanding its market reach by targeting potential segments, such as construction and architectural
projects, to complement its established strengths in the retail market. This holistic and targeted approach is expected to
strengthen Avian Brands’ competitive edge while ensuring sustainable long-term value creation for all stakeholders. Business Continuity Information
Matters That Have a Significant Influence on Business Continuity
Changes in Accounting Policies Throughout 2025, there were no negative events that had major impacts on our operational activities, both internal and
external. This is inseparable from the better risk management that has been performed by us.
The Consolidated Financial Statements of PT Avia Avian Tbk and its Subsidiaries have been prepared based on the Financial
Accounting Standards (Standar Akuntansi Keuangan or “SAK”) issued by the Indonesian Institute of Accountants (Ikatan Management Assessment to Manage Potentially Significant Influences
Akuntan Indonesia or “IAI”). To maintain the relevance and quality of financial reporting amidst regulatory dynamics, the Supported by the business plan that has been presented in the business development strategy for 2025, the Management
IAI periodically updates the standards through the issuance of new standards, as well as amendments, revisions, and has assessed our ability to continue business activities in the future. The Management believes that there are no material
interpretations of existing standards. All such changes aim to enhance the accuracy, transparency, and comparability of the uncertainties that may affect our ability to continue business activities.
Financial Statements. Information regarding the new accounting policies and changes in standards that became effective for
the financial year beginning on or after January 1, 2025, is outlined as follows: Assumptions Used by Management in Assessment
In conducting the assessment, the Management uses a number of assumptions, including:
ISAK/Amendments to PSAK Impacts on Avian Brands 1. Financial performance; 5. Various risks, such as: d. Compliance/legal risk;
2. Operational performance; a. Business risk; e. Financial risk; and
Does not result in substantial changes to Avian Brands’ accounting 3. Capital structure; b. Operational risk; f. Other risks caused by external factors.
PSAK 221 (Amendment), “The Effects of Changes in Foreign
policies and no material effects on the amounts reported for the
Exchange Rates”: Lack of Exchangeability.
current or prior financial years.
4. Regulation; and c. Resource risk;
Reason for Change in Accounting Policy
Changes in accounting policies in the Consolidated Financial Statements of PT Avia Avian Tbk and its Subsidiaries for the
financial years ended December 31, 2025 and 2024 are made to ensure that Avian Brands follow the accounting practices that
are in accordance with the applicable standards in the current year.
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PT Avia Avian Tbk Good Corporate Governance “Good Corporate Governance is not merely about regulatory compliance, but about fostering a culture of integrity and accountability across every level of the organization. Through the principles of transparency and responsible oversight, Avian Brands consistently instills trust, protects stakeholder interests, and ensures sustainable growth amidst industry dynamics.” 126 2025 Annual Report 2025 Annual Report 127
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Commitment to Implementing Good Corporate Integrated Good Corporate Governance Implementation Policy
Governance As a parent company overseeing various Subsidiaries, Avian Brands reaffirms its commitment to implementing GCG principles
in an integrated manner across all business lines. This commitment is explicitly articulated in the GCG Guidelines, which serve
not only as a manual but also as a strategic framework for managing the group in a unified, aligned, and ethical manner.
Through a comprehensive GCG policy, Avian Brands ensures that every entity within the group upholds transparent and
Avian Brands positions the principles of Good Corporate Governance (“GCG”) as the essential foundation for all of its business accountable practices while remaining compliant with prevailing regulations and ethical standards. The consistent application
activities. The implementation of GCG is not merely grounded in compliance, but also serves as a core strategy to establish a of GCG throughout all business processes fosters governance alignment between the Parent Entity and its Subsidiaries.
management system that is transparent, accountable, ethical, and long-term oriented. Through robust GCG implementation,
Avian Brands fosters high-quality decision-making, operational efficiency, and the reinforcement of integrity in maintaining To maintain its effectiveness, Avian Brands periodically conducts evaluations and monitoring to ensure the relevance of GCG
the trust of stakeholders. practices in response to regulatory changes and stakeholder expectations. This approach strengthens inter-entity synergy and
drives the creation of sustainable added value for all stakeholders.
In alignment with evolving business dynamics and risks, Avian Brands continuously evaluates and refines its GCG policies,
systems, and procedures to ensure they remain relevant and adaptive to industry challenges. This commitment is realized
through the application of the four GCG pillars, i.e., Ethical Conduct, Accountability, Transparency, and Sustainability, which are
developed from the core TARIF values (Transparency, Accountability, Responsibility, Independency, and Fairness). These four
pillars serve as the primary guidelines in strengthening a governance structure that is resilient, competitive, and sustainable.
Detailed information regarding the implementation of each GCG pillar is outlined as follows:
Basis of Good Corporate Governance
Implementation
Ethical Conduct 1
In carrying out each business activity, Avian Brands always emphasizes honesty, respects all parties, fulfills
The implementation of GCG within Avian Brands is grounded in a number of provisions and regulations that serve as
commitments, and consistently builds and maintains moral values and trust. Furthermore, Avian Brands, at all times, the primary benchmarks in building a robust and high-integrity governance system, as outlined below:
takes into account the interests of Shareholders and other stakeholders on the basis of fairness and equality, as well 1. The 1945 Constitution of the Republic of Indonesia;
as ensuring independence in management to ensure that no organ of Avian Brands dominates the others and that 2. Law No. 8 of 1995 concerning the Capital Market;
no other party can intervene. 3. Law No. 40 of 2007 concerning Limited Liability Companies;
4. Financial Services Authority (Otoritas Jasa Keuangan or “OJK”) Regulations;
5. Indonesian Stock Exchange Regulations;
Accountability 2 6. OJK Circular Letter No. 32/SEOJK.04/2015 concerning Guidelines for Corporate Governance of Public Companies;
7. Indonesian GCG General Guidelines issued by the National Committee on Governance Policy (Komite Nasional Kebijakan
Avian Brands can be held accountable for its performance transparently and reasonably. Therefore, Avian Brands’ Governansi or “KNKG”) with due observance to the ASEAN Corporate Governance Scorecard (“ACGS”);
management is always carried out in a correct and calculated manner, in accordance with Avian Brands’ interests 8. Avian Brands’ Articles of Association; and
while taking into account the Shareholders’ and other stakeholders’ interests. Accountability is one of the pillars that 9. Avian Brands’ other guidelines and policies.
form the main foundation for achieving sustainable performance.
Avian Brands has also established GCG Guidelines as its corporate framework since June 25, 2021, which were most recently
updated on March 24, 2022, to ensure regulatory relevance and comprehensiveness. This document governs the company’s
governance structures and mechanisms, including the allocation of roles, authorities, and responsibilities for the Shareholders,
Transparency 3 the Board of Commissioners, and the Board of Directors. With these guidelines in place, all management and oversight
processes within Avian Brands are executed with high consistency and accountability. A clear segregation of duties and
To maintain objectivity in business management, Avian Brands consistently provides material and relevant
authorities ensures that each party performs its functions decisively and measurably. Consequently, the implementation of
information in an easily accessible, understandable manner to Shareholders and other stakeholders. Avian Brands
has taken the initiative to disclose not only information required by regulations but also other crucial information GCG transcends mere formality, serving instead as the primary engine in achieving sustainable performance with integrity.
that supports the decision-making processes of Shareholders, creditors, and other stakeholders.
Sustainability 4
Avian Brands remains compliant with all applicable laws and regulations and is committed to carrying out its
responsibilities towards the community and the environment in order to contribute to the Sustainable Development
Goals through cooperation with all relevant stakeholders. This represents Avian Brands’ strategic initiative to improve
our quality of life in a way that is aligned with Avian Brands’ business interests and the sustainable development
agenda.
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Structure of Good Corporate Governance General Meeting of Shareholders
Avian Brands has designed its GCG structure as a holistic system to ensure regulatory compliance while simultaneously The GMS is the organ with the highest authority in Avian Brands’ strategic decision-making, as mandated by Law No. 40 of 2007
enhancing the quality of sustainable governance implementation. As a Limited Liability Company, Avian Brands establishes its concerning Limited Liability Companies, and the Avian Brands’ Articles of Association. The GMS holds full authority to determine
GCG structure based on Law No. 40 of 2007 concerning Limited Liability Companies, which mandates three primary organs: long-term strategic directions, ratify key policies, and assess the performance and accountability of the corporate organs.
the General Meeting of Shareholders (“GMS”), the Board of Commissioners, and the Board of Directors. Avian Brands adopts a The implementation of GMS resolutions is carried out by the Board of Directors, under the oversight of the Board of
two-tier system, which the Board of Commissioners and the Board of Directors hold separate yet complementary authorities Commissioners.
and responsibilities to maintain a balance between oversight and execution functions.
Both organs are supported by Supporting Committees and Units that bolster the effectiveness of supervision and decision- Rights of Shareholders
making. Reporting to the Board of Commissioners are the Audit Committee, the Nomination and Remuneration Committee,
and the Good Corporate Governance Committee. Meanwhile, the Board of Directors is supported by the Related Party Avian Brands consistently ensures that the rights of all shareholders, both majority and public, are protected and exercised
Transaction Committee, the Corporate Secretary, and the Internal Audit Unit. This structure reflects Avian Brands’ commitment fairly. Respect for shareholders’ rights is not only the primary foundation for building investor trust but also a manifestation
to implementing effective, integrated, and sustainable governance. of Avian Brands’ commitment to creating long-term value and sustainable growth. Information regarding the rights of Avian
Brands’ shareholders is detailed as follows:
1. Attend the GMS and cast 1 vote per 1 share owned;
General Meeting of Shareholders 2. Grant power of attorney to other parties in the event that the Shareholder is unable to attend the GMS;
3. Receive and examine the GMS materials at the latest 21 days prior to the GMS convention in order to allow Shareholders to
vote during the proposed decision on the GMS agenda;
4. Have the opportunity to raise questions in each discussion and decision of the GMS agenda;
The Board of 5. Have the opportunity to vote for, against, or abstain on each proposed decision of the GMS agenda;
The Board of Directors
Commissioners 6. Receive equal treatment from Avian Brands; and
7. Other rights based on the Articles of Association and other applicable regulations.
The Nomination The Good Corporate The Related
The Audit Committee and Remuneration Governance
The Corporate
Secretary
The Internal Audit
Unit
Party Transaction Type of General Meeting of Shareholders
Committee Committee Committee
Referring to the provisions of OJK Regulation No. 15/POJK.04/2020 concerning the Planning and Implementation of General
With a structure that is clear, functional, and aligned with GCG pillars, Avian Brands is committed to conducting its corporate Meeting of Shareholders of Public Companies, as well as the provisions stipulated in Avian Brands’ Articles of Association, GMS
operations efficiently, ethically, and responsibly. This robust governance structure not only strengthens compliance with is categorized into two types, as detailed below:
prevailing regulations but also serves as a vital foundation for the creation of a corporate culture that is healthy, competitive, 1. Annual GMS
and sustainable. The Annual GMS is a General Meeting of Shareholders convened every year. In accordance with the prevailing regulations,
the Annual GMS must be convened no later than 6 months after the end of Avian Brands’ financial year. The Annual GMS
includes the following agendas:
a. Ratification of the Annual Report, descriptions of the state and affairs of Avian Brands, including Annual Financial
Mechanism of Good Corporate Governance
Statements;
b. Determination of the use of net profit;
c. Appointment of an external auditor registered with the OJK; and
d. Other agendas proposed by the Board of Directors in the interest of Avian Brands or proposed by one or more
To ensure the effectiveness of GCG implementation, Avian Brands employs structured governance mechanisms with clear and Shareholders in accordance with the provisions of the Law and Avian Brands’ Articles of Association.
proportional allocation of responsibilities among corporate organs. These mechanisms reinforce the relationship between 2. Extraordinary GMS
oversight and execution functions, while simultaneously establishing a balanced system of checks and balances in strategic The Extraordinary GMS is a General Meeting of Shareholders that is convened at any time based on urgent matters in the
decision-making. Within the GCG structure, the GMS serves as the organ with the highest authority, determining Avian Brands’ interest of Avian Brands. Unlike the regularly scheduled Annual GMS, an Extraordinary GMS may be convened at any time
strategic policy direction. The Board of Directors executes GMS resolutions under the active and independent oversight of the to address urgent resolutions that must be decided immediately and may not wait until the next Annual GMS.
Board of Commissioners.
The effectiveness of the Board of Commissioners’ oversight function is bolstered by the support of committees that provide
reviews and recommendations on various critical aspects, such as legal compliance, governance, internal controls, and
management performance and remuneration policies. Meanwhile, the Board of Directors manages operational activities,
business strategy, risk management, and operational efficiency, supported by relevant work units to ensure consistent
governance implementation across all organizational levels. As a manifestation of transparency and reporting accuracy, Avian
Brands also engages independent external auditors to perform audits of the Financial Statements. This provides additional
assurance to stakeholders that the Financial Statements are prepared reliably, accurately, and in accordance with generally
accepted accounting principles.
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Governance
PT Avia Avian Tbk
Authority of the General Meeting of Shareholders 2025 Annual GMS
The GMS holds a highly strategic position in ensuring accountability and transparency in the management of Avian Brands. Convention Stages of the 2025 Annual GMS
Through the GMS forum, Shareholders are provided with a platform to exercise their rights proportionally, including
the determination of fundamental policies that have a significant impact on the business direction, capital structure, and
long-term performance of Avian Brands. In carrying out this role, the GMS holds several authorities as described below:
Notification Announcement Invitation Implementation GMS Resolutions
1. Exercise its rights to express opinions and obtain 2. Hold the Board of Commissioners and the Board of
information relating to Avian Brands from the Board of Directors accountable for the management of Avian
Notified the Financial Announced on Announced on March 19, Convened on April 10, The Meeting Summary
Directors and the Board of Commissioners to the extent Brands; Services Authority on February 28, 2025 through 2025 through the websites 2025 at 10.00 – 11.44 was published on
that it concerns the agenda of the meeting and does not 3. Amend the Articles of Association; and February 20, 2025 the websites of Avian of Avian Brands, the (GMT+7) in Avian Brands April 11, 2025 on the
conflict with the interests of Avian Brands; 4. Appoint and dismiss the Board of Commissioners and through Letter Brands, the Indonesia Indonesia Stock Exchange, Building Meeting Room, websites of Avian
No. 014/AA/CORSEC/II/2025 Stock Exchange, and and the Indonesia Central Jl. Ahmad Yani No. 317, Brands, the Indonesia
the Board of Directors.
the Indonesia Central Securities Depository. Surabaya, 60234, Jawa Stock Exchange, and
Securities Depository. Timur, Indonesia. the Indonesia Central
Securities Depository.
Procedures for Convening General Meeting of Shareholders
Participants of the 2025 Annual GMS
Avian Brands’ GMS is conducted with reference to the prevailing legal and regulatory frameworks to guarantee an orderly The 2025 Annual GMS was attended by 56,494,708,218 shares or 93.3356%, which is more than ½
decision-making process. These provisions include Law No. 40 of 2007 concerning Limited Liability Companies, OJK Regulation of the total shares with voting rights that have been issued by the Avian Brands in the amount of
The Shareholders
No. 15/POJK.04/2020 concerning the Planning and Implementation of General Meeting of Shareholders of Public Companies, 60,528,555,600 shares, where these shares do not include treasury stock totaling 1,425,000,000 shares,
by considering the List of Shareholders as of March 18, 2025.
and OJK Regulation No. 16/POJK.04/2020 concerning the Implementation of General Meeting of Shareholders Through
President Commissioner Hermanto Tanoko
Electronic Means by Public Companies, as amended by OJK Regulation No. 14 of 2025 concerning the Implementation of The Board of Commissioners
General Meeting of Shareholders, General Meeting of Bondholders, and General Meeting of Sukukholders Through Electronic Independent Commissioner Mohammad Noor Rachman Soejoeti
Means. Furthermore, the implementation procedures are aligned with the provisions in Avian Brands’ Articles of Association, President Director Wijono Tanoko
ensuring that the entire GMS process is carried out within a valid and lawful legal framework. Vice President Director Ruslan Tanoko
The Board of Directors Director Robert Christian Tanoko
By adhering to the implementation procedures established in these regulations, Avian Brands ensures that the GMS is
Director Kurnia Hadi Sinanto
conducted in a structured, transparent, participatory, and accountable manner, enabling all Shareholders, both majority and
Director Angelica Tanisia Jozar
public, to exercise their rights fairly. This procedure simultaneously reinforces stakeholder trust in the strategic decision-making
mechanisms that directly impact Avian Brands’ direction, sustainability, and long-term growth. Independent Parties in the Avian Brands appointed PT Bima Registra, as the Securities Administration Bureau, to count the votes
Convention of the 2025 Annual and/or validate the votes and appointed Dr. Susanti, S.H., M.Kn., a Notary in Surabaya City, as the Public
GMS Notary, to verify the vote count in the 2025 Annual GMS.
Voting Mechanism
The voting mechanism in Avian Brands’ GMS is designed to ensure a participatory, open decision-making process while Resolutions of the 2025 Annual GMS
upholding the principles of transparency. In any GMS agenda, the Chairperson of the Meeting will provide an opportunity for Agenda 1
the Shareholders to ask questions and give opinions or comments before any resolution is adopted. This facilitation of open Agenda
discussion fosters a space for constructive dialogue, ensuring that every submitted proposal is considered thoroughly and
Approval on Avian Brands’ Annual Report, including Avian Brands’ Audited Consolidated Financial Statements and the Board of Commissioners’
objectively. Supervisory Duty Report for the financial year ended on December 31, 2024 and grant of release and discharge of liability (acquit et de charge)
to all members of Avian Brands’ Board of Directors for their management actions and to all members of Avian Brands’ Board of Commissioners
Referring to Article 12, paragraph (13) of Avian Brands’ Articles of Association, decision-making in the GMS is, in principle, for their supervisory actions during the financial year ended on December 31, 2024.
sought through a mechanism of deliberation to reach a consensus, reflecting collective values, democracy, and equality among Resolutions
Shareholders. This approach emphasizes the importance of consensus as a form of mutual understanding in determining Avian 1. Accepted and approved the Annual Report of Avian Brands for the financial year ended on December 31, 2024 and ratified the Audited
Brands’ strategic policies. However, should deliberation fail to reach an agreement, resolutions shall be adopted through voting Consolidated Financial Statements of Avian Brands and the Subsidiaries for financial year ended on December 31, 2024 which has been
as a valid alternative mechanism. The voting process is conducted fairly and accountably, wherein each Shareholder holds audited by Public Accounting of Teramihardja, Pradhono & Chandra (a member firm of Crowe global) with an unmodified opinion as
stated in its report No. 00032/2.0851/AU.1/04/0453-1/1/II/2025 dated February 24, 2025; and
voting rights proportional to the number of shares owned. All voting results are accurately calculated and openly announced
2. Accepted and approved the Report of Supervisory Duties of the Board of Commissioners for the financial year ended on December 31,
within the GMS forum, ensuring that the resolutions adopted fully reflect the aspirations and preferences of the majority of 2024, and grant of full release and discharge of liability (acquit et de charge) to all members of the Board of Directors and the Board of
Shareholders. Commissioners of Avian Brands, for the management and supervisory actions during the 2024 financial year provided that those actions
are reflected in the Annual Report, and the Financial Statements of Avian Brands for financial year ended on December 31, 2024, except
for fraudulent, embezzlement, or other criminal acts.
Conventions of the General Meeting of Shareholders in 2025 Voting Results Realization
Agree : 56,434,326,218 Fully realized. Avian Brands’ Financial Statements and Annual Report for the financial year ended
Throughout 2025, Avian Brands convened 1 Annual GMS and 1 Extraordinary GMS. Further information regarding the GMS Abstain : 60,382,000 December 31, 2024, have been submitted to the regulator on February 26, 2025 and March 12,
Disagree : 0 2025, and have been posted on the website, and have not been amended following the GMS.
convention is described as follows:
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PT Avia Avian Tbk
Resolutions of the 2025 Annual GMS Resolutions of the 2025 Annual GMS
Agenda 2 Agenda 4
Agenda Agenda
Determination of the use of Avian Brands’net profit for the financial year ended on December 31, 2024. Determination of the salary/honorarium and other allowances for members of Avian Brands’ Board of Commissioners and the Board of
Directors for the year 2025.
Resolutions
Resolutions
1. Determining that according to Avian Brands’ Audited Consolidated Financial Statements as of December 31, 2024, Avian Brands’ net profit
amounted to IDR1,663,699,154,610.- (“2024 Net Profit”); To grant power and authority to Avian Brands’ Board of Commissioners:
2. Appropriating Avian Brands’ 2024 Net Profit as follows: 1. to determine the salary/honorarium and other allowances for members of the Board of Commissioners and Board of Directors of Avian
a. an amount of IDR22.- per share will be distributed as cash dividends for the financial year ended on December 31, 2024 to the Brands for the year 2025 through the Meeting of the Board of Commissioners; and
shareholders entitled to receive cash dividends, where the amount of cash dividends includes the interim dividends, with the following 2. to determine the amount of distribution among members of the Board of Commissioners and members of the Board of Directors;
explanation: by taking into account the recommendations from the Nomination and Remuneration Committee, the provisions of the Articles of
1) to ratify the distribution of interim dividends for the 2024 financial year from the 2024 Net Profit of IDR11.- per share or Association, and the applicable rules and regulations.
IDR671,978,173,900.- and the payment has been made on November 21, 2024 to the holders/owners of 61,088,924,900 shares of
Voting Results Realization
Avian Brands; and
2) to distribute cash dividends for the 2024 financial year from the 2024 Net Profit of IDR11.- per share to holders/owners of Avian Agree : 55,813,356,158 Fully realized. The Board of Commissioners has determined the salary/honorarium and other
Brands’ shares who are entitled to dividend distribution, whereas treasury stock is not entitled to dividend distribution; Abstain : 54,015,400 allowances for members of the Board of Commissioners and members of the Board of Directors for
with due observance of the prevailing laws and regulations, including the applicable tax regulations; Disagree : 627,336,660 the year 2025 through the Board of Commissioners Meeting based on the Minutes of the Board of
Commissioners Meeting No. 004/AA/BAR/KOM/IV/2025 dated April 30, 2025.
As regards such dividend payments, the following terms and conditions shall apply: Agenda 5
a) the remaining dividends for the 2024 financial year will be paid out for each share issued by Avian Brands as recorded in Avian
Brands’ Register of Shareholders as at the record date, which will be determined by the Board of Directors; Agenda
b) as regards the payments of the remaining dividends for the 2024 financial year, the Board of Directors shall withhold tax on such Submission of an Accountability Report on the Realization of the Use of Proceeds from the Initial Public Offering.
dividends in accordance with the tax regulations in force; and
c) the Board of Directors is granted the power and attorney to stipulate any matters concerning the payment of the remaining dividends Resolutions
for the 2024 financial year, including (but not limited to): The Fifth Agenda is only a Report in connection with the Realization of the Use of Proceeds from the Initial Public Offering, therefore, there
(1) stipulating the record date as referred to in letter a to determine the shareholders of Avian Brands eligible to receive payments is no voting/approval from the Meeting is conducted.
on the remaining dividends for the 2024 financial year; and
(2) stipulating the date of payment of the remaining dividends for the 2024 financial year and any other technical matters with due Voting Results Realization
observance of the regulations of the Stock Exchange where Avian Brands’ shares are listed; Agree : - -
b. the remaining of 2024 Net Profit is recorded as retained earnings that have not yet been determined. Abstain : -
3. Approved to give full authority and power to the Board of Directors of Avian Brands with the right of substitution to take all necessary Disagree : -
actions in connection with the resolution, one and another thing, without any exceptions.
Voting Results Realization
2025 Extraordinary GMS
Agree : 56,437,343,418 Fully realized. The cash dividend was distributed on April 30, 2025 to the Shareholders of Avian
Abstain : 54,015,400 Brands whose names are recorded in Avian Brands’ Shareholder List on April 23, 2025.
Convention Stages of the 2025 Extraordinary GMS
Disagree : 3,349,400
Agenda 3
Agenda
Appointment of the Registered Public Accountant and/or Registered Public Accounting Firm that will Audit Avian Brands’ Consolidated Notification Announcement Invitation Implementation GMS Resolutions
Financial Statements for the financial year ended on December 31, 2025.
Notified the Financial Announced on February Announced on March 19, Convened on April 10, The Meeting Summary
Resolutions
Services Authority on 28, 2025 through the 2025 through the websites 2025 at 12.07 – 12.36 was published on
1. To delegate authority to Avian Brands’ Board of Commissioners to appoint a Registered Public Accountant and/or Registered Public February 20, 2025 websites of Avian of Avian Brands, the (GMT+7) in Avian Brands April 11, 2025 on the
Accounting Firm in Indonesia that will conduct an audit of Avian Brands’ Consolidated Financial Statements for the financial year ending through Letter Brands, the Indonesia Indonesia Stock Exchange, Building Meeting Room, websites of Avian
December 31, 2025, by taking into account the recommendation of the Audit Committee, provided that the Public Accountant and/or the No. 014/AA/CORSEC/II/2025. Stock Exchange, and and the Indonesia Central Jl. Ahmad Yani No. 317, Brands, the Indonesia
Public Accounting Firm is registered in the Financial Services Authority, has a good reputation and has no conflict of interest with Avian the Indonesia Central Securities Depository. Surabaya, 60234, Jawa Stock Exchange, and
Brands and its affiliates; and Securities Depository. Timur, Indonesia. the Indonesia Central
2. To grant authority to Avian Brands’ Board of Directors to determine the honorarium of the Registered Public Accountant and/or Registered Securities Depository.
Public Accounting Firm and its appointment terms.
Voting Results Realization
Agree : 55,438,284,121 Fully realized. The Board of Commissioners has appointed Public Accounting Firm Teramihardja,
Abstain : 54,015,400 Pradhono & Chandra to audit Avian Brands’ Consolidated Financial Statements for the financial
Disagree : 1,002,408,697 year ended December 31, 2025 based on the Minutes of the Board of Commissioners Meeting
No. 006/AA/BAR/KOM/IX/2025 dated September 15, 2025.
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Participants of the 2025 Extraordinary GMS Resolutions of the 2025 Extraordinary GMS
The 2025 Extraordinary GMS was attended by 56,496,257,672 shares or 93.3382%, which is more than Voting Results Realization
½ of the total shares with voting rights that have been issued by Avian Brands out of 60,528,555,600 Agree : 56,494,038,272 Resolutions of this Extraordinary GMS agenda may not be fully realized in 2025, given that
The Shareholders
shares, where these shares do not include treasury stock totaling 1,425,000,000 shares, by considering Abstain : 2,219,400 the shares buyback period is ongoing and at the latest will end on April 9, 2026.
the List of Shareholders as of March 18, 2025. Disagree : 0
President Commissioner Hermanto Tanoko
The Board of Commissioners
Independent Commissioner Mohammad Noor Rachman Soejoeti
President Director Wijono Tanoko Conventions of the General Meeting of Shareholders in 2024
Vice President Director Ruslan Tanoko
Throughout 2024, Avian Brands convened 1 Annual GMS and did not convene any Extraordinary GMS. Further information
The Board of Directors Director Robert Christian Tanoko
regarding the GMS convention is described as follows:
Director Kurnia Hadi Sinanto
Director Angelica Tanisia Jozar 2024 Annual GMS
Avian Brands appointed PT Bima Registra, as the Securities Administration Bureau, to count the votes
Independent Parties in the
Convention of the 2025
and/or validate the votes and appointed Dr. Susanti, S.H., M.Kn., a Notary in Surabaya City as the Public Convention Stages of the 2024 Annual GMS
Notary, to verify the vote count in the 2025 Extraordinary GMS.
Extraordinary GMS
Notification Announcement Invitation Implementation GMS Resolutions
Resolutions of the 2025 Extraordinary GMS
Agenda 1 Notified the Financial Announced on Announced on March 13, Convened on April 4, 2024 The Meeting Summary
Services Authority on February 27, 2024 through 2024 through the websites at 09.49 – 11.20 (GMT+7) was published on
Agenda
February 20, 2024 the websites of Avian of Avian Brands, the in Avian Brands Building April 5, 2024 on the
Approval of changes in the composition of the members of the Avian Brands’ Board of Commissioners. through Letter Brands, the Indonesia Indonesia Stock Exchange, Meeting Room, websites of Avian Brands,
No. 014/AA/CORSEC/II/2024. Stock Exchange, and and the Indonesia Central Jl. Ahmad Yani No. 317, the Indonesia Stock
Resolutions the Indonesia Central Securities Depository. Surabaya, 60234, Jawa Exchange, and on April
1. Appointed Mr. Oscar Christian Maria Jozef Wezenbeek as an Independent Commissioner of the Avian Brands as of the closing of this Securities Depository. Timur, Indonesia. 6, 2024 on the website
Meeting with the end of the term of office being the same as the current members of the Board of Directors and Board of Commissioners, of the Indonesia Central
which is until the closing of the Annual General Meeting of Shareholders in 2026, therefore the composition of the members of the Avian Securities Depository.
Brands’ Board of Commissioners and Board of Directors to be as follows:
The Board of Commissioners
President Commissioner : Hermanto Tanoko Participants of the 2024 Annual GMS
Independent Commissioner : Mohammad Noor Rachman Soejoeti
Independent Commissioner : Oscar Christian Maria Jozef Wezenbeek
The 2024 Annual GMS was attended by 59,595,151,446 shares or 96.6710%, which is more than ½ of
The Board of Directors
the total shares with voting rights that have been issued by the Avian Brands out of 61,647,392,400,000
President Director : Wijono Tanoko Shareholders
where these shares do not include treasury stock totaling 306,163,200 shares, by considering the List
Vice President Director : Ruslan Tanoko
of Shareholders as of March 8, 2024.
Director : Robert Christian Tanoko
Director : Kurnia Hadi Sinanto President Commissioner Hermanto Tanoko
Director : Angelica Tanisia Jozar The Board of Commissioners
2. To give authority and power with substitution rights to the Board of Directors of the Avian Brands to take all actions in connection with Independent Commissioner Mohammad Noor Rachman Soejoeti
the changes and determination of the composition of the members of the Board of Commissioners and Board of Directors of the Avian Vice President Director Ruslan Tanoko
Brands mentioned above, including but not limited to making or requesting to be made and signing all deeds made before Notary in
connection to the composition of the members of the Board of Commissioners and Board of Directors of the Avian Brands, to submit Director Robert Christian Tanoko
The Board of Directors
notification to the Minister of Law of the Republic of Indonesia and report to other competent authorities, register and announce it and Director Kurnia Hadi Sinanto
do everything needed and required by the applicable laws and regulations.
Director Angelica Tanisia Jozar
Voting Results Realization
Independent Parties in the Avian Brands appointed PT Bima Registra, as the Securities Administration Bureau, to count the votes
Agree : 56,478,943,072 Fully realized based on the Deed of Restatement of Meeting Resolutions No. 3 dated April 10, 2025, Convention of the 2024 Annual and/or validate the votes and appointed Dr. Susanti, S.H., M.Kn., a Notary in Surabaya City, as the Public
Abstain : 2,219,400 drawn up before Dr. Susanti, S.H., M.Kn., a Notary in Surabaya City. GMS Notary, to verify the vote count in the 2024 Annual GMS.
Disagree : 15,095,200
Agenda 2
Resolutions of the 2024 Annual GMS
Agenda
Approval for the Avian Brands’ share buyback. Agenda 1
Resolutions Agenda
1. Approving shares buyback of the Avian Brands’ shares that have been issued and listed on the Indonesia Stock Exchange of up to Approval on Avian Brands’ Annual Report, including Avian Brands’ Audited Consolidated Financial Statements and the Board of
1,425,000,000 shares of the Avian Brands or approximately 2.3% of the entire issued and paid up capital of the Avian Brands, with funds Commissioners’ Supervisory Duty Report for the financial year ended on December 31, 2023 and grant of release and discharge of liability
allocation of up to IDR1,000,000,000,000.- including transaction costs, trading costs, and other costs in connection with the buyback of (acquit et de charge) to all members of Avian Brands’ Board of Directors for their management actions and to all members of Avian Brands’
the Avian Brands’ shares, to be conducted in stages within a maximum period of 12 months since the share buyback is approved by the Board of Commissioners for their supervisory actions during the financial year ended on December 31, 2023.
Meeting. The share buyback will be conducted in accordance with applicable regulations; and Resolutions
2. Approving to grant authority and/or power of attorney to the Board of Directors of the Avian Brands to take all necessary actions
in connection with the implementation of the resolution of the Meeting as referred to in point I above, including but not limited to 1. Accepted and approved the Annual Report of Avian Brands for the financial year ended on December 31, 2023 and ratified the Audited
determining the terms and conditions on the implementation of the buyback of the Avian Brands’ shares and/or stating a separate Consolidated Financial Statements of Avian Brands and the Subsidiaries for financial year ended on December 31, 2023 which has been
resolution in a separate deed before a Notary, with due observance of the prevailing laws and regulations. audited by Public Accounting Firm of Tanudiredja, Wibisana, Rintis & Rekan (a member firm of the PwC global network) with an unmodified
opinion as stated in its report No. 00202/2.1025/AU.1/04/1737-2/1/II/2024 dated February 27, 2024; and
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Resolutions of the 2024 Annual GMS Resolutions of the 2024 Annual GMS
2. Accepted and approved the Report of Supervisory Duties of the Board of Commissioners for the financial year ended on December 31, Agenda 4
2023, and grant of full release and discharge of liability (acquit et de charge) to all members of the Board of Directors and the Board of
Agenda
Commissioners of Avian Brands, for the management and supervisory actions during the 2023 financial year provided that those actions
are reflected in the Annual Report, and the Financial Statements of Avian Brands for financial year ended on December 31, 2023, except Determination of the salary/honorarium and other allowances for members of Avian Brands’ Board of Commissioners and the Board of
for fraudulent, embezzlement, or other criminal acts. Directors for the year 2024.
Voting Results Realization Resolutions
Agree : 59,595,151,046 Fully realized. Avian Brands’ Financial Statements and Annual Report for the financial year ended To grant power and authority to Avian Brands’ Board of Commissioners:
Abstain : 300 December 31, 2023, have been submitted to the regulator on February 28, 2024 and March 12, 1. to determine the salary/honorarium and other allowances for members of the Board of Commissioners and Board of Directors of Avian
Disagree : 100 2024, and have been posted on the website, and have not been amended following the GMS. Brands for the year 2024 through the Meeting of the Board of Commissioners; and
Agenda 2 2. to determine the amount of distribution among members of the Board of Commissioners and members of the Board of Directors;
by taking into account the recommendations from the Nomination and Remuneration Committee, the provisions of the Articles of
Agenda Association, and the prevailing rules and regulations.
Determination of the use of Avian Brands’net profit for the financial year ended on December 31, 2023. Voting Results Realization
Resolutions Agree : 59,420,098,946 Fully realized. The Board of Commissioners has determined the salary/honorarium and other
1. Determining that according to Avian Brands’ Audited Consolidated Financial Statements as of December 31, 2023, Avian Brands’ net profit Abstain : 2,800 allowances for members of the Board of Commissioners and members of the Board of Directors for
is amounted to IDR1,643,095,450,420.- (“2023 Net Profit”); Disagree : 175,049,700 the year 2024 through the Board of Commissioners Meeting based on the Minutes of the Board of
2. Appropriating Avian Brands’ 2023 Net Profit as follows: Commissioners Meeting No. 002/AA/BAR/KOM/IV/2024 dated April 29, 2024.
a. an amount of IDR22.- per share will be distributed as cash dividends for the financial year ended on December 31, 2023 to the Agenda 5
shareholders entitled to receive cash dividends, where the amount of cash dividends includes the interim dividends, with the following
explanation: Agenda
1) to ratify the distribution of interim dividends for the 2023 financial year from the 2023 Net Profit of IDR11.- per share or Submission of an Accountability Report on the Realization of the Use of Proceeds from the Initial Public Offering.
IDR681,489,111,600.- and the payment has been made on October 31, 2023 to the holders/owners of 61,953,555,600 shares of Avian
Brands; and Resolutions
2) to distribute cash dividends for the 2023 financial year from 2023 Net Profit of IDR11.- per share to holders/owners of Avian Brands’ The Fifth Agenda is only a Report in connection with the Realization of the Use of Proceeds from the Initial Public Offering, therefore, there
shares who are entitled to dividend distribution, whereas treasury stock is not entitled to dividend distribution; is no voting/approval from the Meeting is conducted.
with due observance of the prevailing laws and regulations, including the applicable tax regulations;
As regards such dividend payments, the following terms and conditions shall apply: Voting Results Realization
a) the remaining dividends for the 2023 financial year will be paid out for each share issued by Avian Brands as recorded in Avian Agree :- -
Brands’ Register of Shareholders as at the record date, which will be determined by the Board of Directors; Abstain :-
b) as regards the payments of the remaining dividends for the 2023 financial year, the Board of Directors shall withhold tax on such Disagree :-
dividends in accordance with the tax regulations in force; and
c) the Board of Directors is granted the power and attorney to stipulate any matters concerning the payment of the remaining dividends
for the 2023 financial year, including (but not limited to):
(1) stipulating the record date as referred to in letter a to determine the shareholders of Avian Brands eligible to receive payments
on the remaining dividends for the 2023 financial year; and
(2) stipulating the date of payment of the remaining dividends for the 2023 financial year and any other technical matters with due
observance of the regulations of the Stock Exchange where Avian Brands’ shares are listed;
The Board of Commissioners
b. the remaining of 2023 Net Profit is recorded as retained earnings that have not yet been determined.
3. Approved to give full authority and power to the Board of Directors of Avian Brands with the right of substitution to take all necessary
actions in connection with the resolution, one and another thing, without any exceptions. The Board of Commissioners is an organ of Avian Brands that holds collective responsibility for overseeing the policies and
Voting Results Realization management of Avian Brands by the Board of Directors, as well as providing strategic direction and advice to ensure the
Agree : 59,595,151,046 Fully realized. The cash dividend was distributed on April 30, 2024 to the Shareholders of Avian sustainable achievement of the Company’s objectives. Additionally, the Board of Commissioners is responsible for ensuring
Abstain : 300 Brands whose names are recorded in Avian Brands’ Shareholder List on April 24, 2024. that GCG pillars are consistently implemented at all levels of Avian Brands.
Disagree : 100
Agenda 3 Furthermore, the Board of Commissioners plays a role in monitoring the comprehensive implementation of GCG policies
Agenda and practices, including aspects of transparency, accountability, and business ethics. In exercising its oversight function, the
Appointment of the Registered Public Accountant and/or Registered Public Accounting Firm that will Audit Avian Brands’ Consolidated Board of Commissioners consistently maintains independence, objectivity, and integrity, ensuring that all evaluation and
Financial Statements for the financial year ended on December 31, 2024. decision-making processes are conducted professionally, free from intervention, and devoid of potential conflicts of interest.
Resolutions This independence serves as a vital foundation for the creation of effective checks and balances between the oversight function
and Avian Brands’ operational execution.
1. To delegate authority to Avian Brands’ Board of Commissioners to appoint a Registered Public Accountant and/or Registered Public
Accounting Firm in Indonesia that will conduct an audit of Avian Brands’ Consolidated Financial Statements for the financial year ending
December 31, 2024, by taking into account the recommendation of the Audit Committee, provided that the Public Accountant and/or the
Public Accounting Firm is registered in the Financial Services Authority, has a good reputation and has no conflict of interest with Avian The Board of Commissioners Charter
Brands and its affiliates; and
2. To grant authority to Avian Brands’ Board of Directors to determine the honorarium of the Registered Public Accountant and/or Registered
Public Accounting Firm and its appointment terms. Avian Brands established the Board of Commissioners Charter on August 16, 2021 (the “Board of Commissioners Charter”), to serve
Voting Results Realization
as a guideline in performing oversight functions and providing advisory services to the Board of Directors. This Charter ensures
that all management processes within Avian Brands align with GCG principles and clarifies the duties, responsibilities, and ethical
Agree : 58,886,680,431 Fully realized. The Board of Commissioners has appointed Public Accounting Firm Teramihardja,
Abstain : 300 Pradhono & Chandra (a member firm of Crowe global) to audit Avian Brands’ Consolidated Financial standards of the Board of Commissioners. Developed based on the Articles of Association and prevailing laws and regulations, the
Disagree : 708,470,715 Statements for the financial year ended December 31, 2024 based on the Minutes of the Board of Board of Commissioners Charter serves as the basis for the Board of Commissioners to perform its role professionally, accountably,
Commissioners Meeting No. 006/AA/BAR/KOM/X/2024 dated October 24, 2024. and with integrity in supporting the sustainable achievement of Avian Brands’ vision, mission, and values.
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Composition of the Board of Commissioners Mohammad Noor Oscar Christian Maria
Description of Criteria
Rachman Soejoeti Jozef Wezenbeek*)
The composition of Avian Brands’ Board of Commissioners is regulated under Article 16 paragraph (1) of the Articles of
Association, which stipulates a minimum of two members, consisting of one President Commissioner and at least one Not a person who works or has the authority and responsibility to plan,
lead, control, or supervise activities of Avian Brands within the last 6
Independent Commissioner. This structure is designed to maintain a balance of independent and professional oversight in months, except for reappointment as Independent Commissioner for
accordance with GCG principles. Appointment and dismissal of members of the Board of Commissioners fall under the GMS’s the next period.
authority, with a term of office of five years and eligibility for reappointment in accordance with applicable provisions. Not holding any shares, either directly or indirectly, in Avian Brands.
Not having any affiliation with Avian Brands, members of the Board of
In forming the Board of Commissioners, Avian Brands prioritizes diversity in background, experience, expertise, and age range Commissioners, members of the Board of Directors, Main Shareholders,
to enrich strategic perspectives in overseeing and advising the Board of Directors. In 2025, the composition of the Board of or Controlling Shareholders of Avian Brands.
Commissioners underwent a change with the appointment of Mr. Oscar Christian Maria Jozef Wezenbeek as an Independent Not having any business relationship, either directly or indirectly,
Commissioner, effective from the closing of the Extraordinary GMS on April 10, 2025, until the closing of the Annual GMS in related to Avian Brands’business activities.
2026. Accordingly, the composition of Avian Brands’ Board of Commissioners as of December 31, 2025, is detailed as follows: *)
Effectively served as an Independent Commissioner based on the Resolution of the Extraordinary General Meeting of Shareholders of Avian Brands dated
April 10, 2025.
Name Position
Hermanto Tanoko President Commissioner Duties and Responsibilities of the Board of Commissioners
Mohammad Noor Rachman Soejoeti Independent Commissioner
Oscar Christian Maria Jozef Wezenbeek*) Independent Commissioner The Board of Commissioners holds a strategic role in ensuring that the management of Avian Brands aligns with GCG pillars,
*)
Effectively served as an Independent Commissioner based on the Resolution of the Extraordinary General Meeting of Shareholders of Avian Brands dated as well as the purposes and objectives set forth in the Avian Brands’ Articles of Association. To perform this role optimally,
April 10, 2025. the Board of Commissioners is equipped with a clear mandate encompassing oversight functions, advisory services, and
the control and evaluation of strategic policies implemented by the Board of Directors. Throughout 2025, the Board of
Commissioners reviewed, monitored, and supervised the execution of Avian Brands’ strategies through Joint Meetings of the
Dual Appointment of the Board of Commissioners Board of Directors and the Board of Commissioners held on a monthly basis. The detailed duties and responsibilities of the
Board of Commissioners are governed by the Board of Commissioners Charter. This Charter serves as the foundation for the
Avian Brands consistently ensures that all members of the Board of Commissioners carry out their duties and responsibilities Board of Commissioners to perform its functions independently, objectively, and professionally to maintain a balance of power,
with full dedication and a high degree of independence. A key aspect in this regard is the disclosure of dual positions, which enhance management accountability, and ensure the long-term business sustainability of Avian Brands. Further information
aims to ensure that each member of the Board of Commissioners can perform their functions optimally, free from conflicts of on the duties and responsibilities of the Board of Commissioners is described as follows:
interest or excessive workloads. Based on the Board of Commissioners Charter, the provisions regarding the dual positions of 1. Supervising the management of Avian Brands by the Board of Directors, both in regards to Avian Brands and its business,
Avian Brands’ Board of Commissioners are outlined as follows: as well as providing advice to the Board of Directors;
1. The Board of Commissioners members may hold dual appointments as: 2. Performing specifically-assigned tasks in accordance with the Articles of Association, applicable laws and regulations, and/
a. The Board of Directors member in a maximum of 2 other Issuers or Public Companies; and or based on the resolutions of the GMS;
b. The Board of Commissioners member in a maximum of 3 other Issuers or Public Companies; 3. Performing duties, responsibilities, and authorities in accordance with the provisions of Avian Brands’ Articles of Association
2. If a Board of Commissioners member does not hold dual appointments as a Board of Directors member, he/she may hold and the resolutions of the GMS, including proposing the appointment of a Public Accountant and/or Public Accounting
dual appointments as a Board of Commissioners member in a maximum of 4 other Issuers or Public Companies; Firm that will conduct audit services on Avian Brands’ Financial Statements;
3. A Board of Commissioners member may serve as a member of at most 5 committees in Avian Brands and other Public 4. Directing, monitoring, and evaluating the implementation of Avian Brands’ strategic policies;
Companies in which he/she also serves as a member of the Board of Directors or Board of Commissioners; and 5. Implementing and ensuring the implementation of risk management and GCG principles in each of Avian Brands’ business
4. The dual appointment mentioned in point 3 above may only be carried out provided that it does not conflict with other activities, at all organizational levels or stages;
laws and regulations. 6. Evaluating and approving Avian Brands’ work plan;
7. Assisting and encouraging efforts in fostering and developing Avian Brands;
8. Forming the Audit Committee as well as other committees in accordance with the prevailing laws and regulations;
Independent Commissioner 9. Ensuring that the supporting committees of the Board of Commissioners have effectively performed their duties and
responsibilities;
Independent Commissioners are a vital element within Avian Brands’ Board of Commissioners, appointed based on specific 10. Evaluating the performance of the committees assisting the Board of Commissioners in performing their duties and
criteria to ensure independence in exercising oversight functions. In accordance with regulatory provisions, Independent responsibilities at the end of each financial year; and
Commissioners must be free from financial, managerial, shareholding, or familial relationships with members of the Board 11. Convening the Annual GMS and other GMS in accordance with their authority as regulated by laws and regulations as well
of Commissioners, the Board of Directors, and/or the Controlling Shareholders to ensure they can act independently and as the Articles of Association.
objectively. The presence of Independent Commissioners plays a strategic role in maintaining integrity and fairness in decision-
making, providing independent perspectives on management policies, and protecting the interests of all Shareholders and
stakeholders. Division of Duties of the Board of Commissioners
Avian Brands has 2 (two) Independent Commissioners, representing 67% of the total members of the Board of Commissioners. The Board of Commissioners of Avian Brands has established the division of duties among its members through the Minutes of
This proportion exceeds the minimum requirement of 30% as stipulated in OJK Regulation No. 33/POJK.04/2014 concerning the Board of Commissioners Meeting No. 006/AA/BAR/KOM/IX/2023 dated September 19, 2023, as updated by the Minutes of
the Board of Directors and Board of Commissioners of Issuers or Public Companies (“POJK 33/2014”). The appointments of the Board of Commissioners Meeting No. 008/AA/BAR/KOM/X/2025 dated October 13, 2025, to enhance the effectiveness and
Mr. Mohammad Noor Rachman Soejoeti and Mr. Oscar Christian Maria Jozef Wezenbeek as Independent Commissioners have efficiency of its oversight functions. Each member of the Board of Commissioners is assigned a specific oversight mandate over
fully complied with the independence requirements in accordance with the aforementioned regulation, as detailed below: Avian Brands’ strategic areas, such as audit, risk management, governance, and other aspects relevant to business sustainability.
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The implementation of this division of duties ensures that the quality of oversight is conducted comprehensively, thereby Meeting Convention
fostering more focused and accountable coordination in strategic decision-making. The duties and responsibilities of each Throughout 2025, the Board of Commissioners has convened 6 internal meetings and 12 joint meetings with the Board of
member of the Board of Commissioners are described as follows: Directors. Information on the number of meetings and attendance rate of the Board of Commissioners, is outlined as follows:
Name Position Duties and Responsibilities Internal Meetings of the Board of Joint meetings with the Board of
GMS
Commissioners Directors
Hermanto President Mr. Hermanto is responsible to:
Tanoko Commissioner • coordinate the activities of the Board Commissioners and ensure that each member of the
Board of Commissioners can express their opinion based on sufficient information; Name Position Number Number 2025
Total Attendance Total Attendance 2025 Annual
• supervise and provide advice to the Board of Directors in carrying out the management of of of Extraordinary
Attendance (%) Attendance (%) GMS
Avian Brands; Meeting Meeting GMS
• provide opinion and approval of Avian Brands’ Annual Work Plan and Budget as well as other
work plans prepared by the Board of Directors, in accordance with the provisions of Avian
Brands’ Articles of Association; and Hermanto President
6 6 100.00 12 9 75.00
• provide a report on the supervisory duties that have been carried out during the last financial Tanoko Commissioner
year to the GMS. Mohammad
Mohammad Independent Mr. Noor is responsible for: Noor Independent
6 6 100.00 12 12 100.00
Noor Rachman Commissioner • as Chairman of the Audit Committee; Rachman Commissioner
Soejoeti • as Chairman of the Nomination and Remuneration Committee; Soejoeti
• carry out supervision in the field of capital market legal compliance; Oscar
• examine and review periodic reports and the Annual Report prepared by the Board of Christian Independent
Directors; and 6 4 66.67 12 8 66.67 -**) -**)
Maria Jozef Commissioner
• carry out other obligations within the framework of supervisory duties and provide advice, Wezenbeek*)
as long as they do not conflict with statutory regulations, Articles of Association, and/or GMS *)
Effectively served as an Independent Commissioner based on the Resolution of the Extraordinary General Meeting of Shareholders of Avian Brands dated April
decisions.
10, 2025.
Oscar Christian Independent Mr. Oscar is responsible for providing advice and supervision in the fields of operations, sales **)
Mr. Oscar Christian Maria Jozef Wezenbeek had not effectively taken office as Independent Commissioner of Avian Brands during the convention of 2025 Annual
Maria Jozef Commissioner and marketing, including but not limited to, the development and implementation of business GMS and Extraordinary GMS.
Wezenbeek*) strategies, operations and production plans, marketing programs, new product development,
and new market expansion.
*)
Effectively served as an Independent Commissioner based on the Resolution of the Extraordinary General Meeting of Shareholders of Avian Brands dated
April 10, 2025. Competence Development of the Board of Commissioners
Policy on Competence Development of the Board of Commissioners
The commitment to implementing continuous competence development programs for the Board of Commissioners is articulated
Decisions Requiring the Board of Commissioners’ Approval
in the Competence Development Policy. This policy aligns with the provisions of the Board of Commissioners Charter, which
underscore the importance of ongoing capacity building to effectively respond to dynamics in economics, finance, industry,
Avian Brands stipulates that every strategic decision with a significant impact on the sustainability and growth of Avian Brands
and regulation, as well as other strategic issues relevant to Avian Brands’ business activities. To meet these role requirements,
must obtain approval from the Board of Commissioners, as mandated by the Articles of Association. This provision is part of the
the Board of Commissioners is required to proactively update their knowledge and insights through participation in various
checks and balances mechanism to ensure the principle of prudence in strategic decision-making. This role not only reinforces
development programs, including training and education programs, seminars, site visits, benchmarking, and brainstorming
the oversight function but also serves as a vital instrument in maintaining stability, mitigating strategic risks, and ensuring
sessions. This approach not only fosters continuous learning but also serves as a strategic means to maintain the quality of
consistency in the direction of business transformation. Consequently, all major decisions reflect responsible and long-term
decision-making and enhance added value for all stakeholders.
oriented governance. Decisions that require the Board of Commissioners’ approval are described as follows:
1. Selling, pledging, or otherwise disposing of rights to immovable property belonging to Avian Brands;
2. Binding Avian Brands as guarantor; Implementation of the Board of Commissioners Competence Development Program
3. Establishing a new business or investing; Information concerning on the competence development programs attended by members of the Board of Commissioners
4. Transferring investment in other companies, both domestic and overseas; throughout 2025 has been disclosed in the Company Profile Chapter, particularly in the Profile section of each member of
5. Receiving loans from any party; the Board of Commissioners.
6. Giving loans to any party save for loans in business activities and loans to Avian Brands’ employees and Subsidiaries; and
7. Opening branches or representative offices, both inside and outside the territory of the Republic of Indonesia.
Orientation Program for New Members of the Board of Commissioners
The Board of Commissioners Meeting Avian Brands has implemented a policy concerning orientation program for newly appointed members of the Board of
Commissioners. Through this program, new members are expected to swiftly grasp the strategic and operational context of
Meeting Policy Avian Brands, enabling them to perform their oversight and advisory functions proactively and constructively. The orientation
The Board of Commissioners of Avian Brands conducts regular meetings in accordance with the provisions of OJK Regulation programs for newly appointed Board of Commissioners members include, among others:
No. 33/POJK.04/2014 and Avian Brands’ Articles of Association. Based on these provisions, internal meetings are held at least once 1. Knowledge of Avian Brands, among others: 2. Knowledge concerning the designation of the Board of
every two months, while joint meetings with the Board of Directors are conducted at least once every four months. Both forums a. Avian Brands’ Vision, Mission, purposes, and objectives; Commissioners, among others:
serve as strategic platforms to review performance, align policies, and ensure that all decisions and operational directions of Avian b. Avian Brands’ strategy; a. Duties, responsibilities, and authorities of the Board
Brands remain consistent, while simultaneously strengthening overall coordination and governance effectiveness. c. Avian Brands’ medium and long-term plans; of Commissioners;
d. Avian Brands’ operational performance; b. Working time;
e. Avian Brands’ financial performance; and c. Relationship with members of the Board of Directors;
f. Avian Brands’ risk management; and
d. Relevant rules/provisions.
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Implementation of Orientation Program for New Members of the Board of Commissioners Performance Assessment of Committees Under the Board of Commissioners
In 2025, Avian Brands conducted an orientation program for its Board of Commissioners following the appointment of
Mr. Oscar Christian Maria Jozef Wezenbeek as the new Independent Commissioner. This program was designed to equip
Policy, Procedure, and Implementation of Performance Assessment
him with a comprehensive understanding of Avian Brands’ organizational structure, vision and mission, core values, and
business processes. Through the implementation of this orientation program, Avian Brands ensures that newly appointed The performance assessment policy of committees under the Board of Commissioners aims to ensure that each committee has carried
members of the Board of Commissioners can immediately and effectively perform their oversight and advisory roles, supported out its duties and responsibilities effectively and efficiently. This assessment also aims to identify areas that require improvement and
development. Results of the assessment are subsequently factored into the reappointment process of committee members, ensuring that
by a thorough understanding of Avian Brands’ strategic and operational context.
only the most accomplished individuals may remain to support the Board of Commissioners in carrying out its supervisory and advisory
functions towards the Board of Directors.
Performance Assessment of the Board of Commissioners Assessor
Performance assessment of committees under the Board of Commissioners is conducted by the Board of Commissioners periodically at the
end of each financial year.
Policy, Procedure, and Implementation of Performance Assessment
Aspects of Performance Assessment
Policy concerning performance assessment of the Board of Commissioners is based on the Performance Assessment Policy of the Board of
Commissioners and the Board of Directors of Avian Brands, which was stipulated on December 27, 2021, and last updated on December 18, The performance assessment process for committees under the Board of Commissioners involves a careful evaluation of the assignment
2025, as well as other relevant regulations. With this policy, each member of the Board of Commissioners assesses the performance of the reports and annual reports on the performance of each committee’s activities. Performance assessment aspects for committees under the
Board of Commissioners collegially, rather than individually. This assessment is designed to evaluate the effectiveness and cooperation of all Board of Commissioners are described as follows:
members of the Board of Commissioners in carrying out their supervisory and advisory duties to the Board of Directors. 1. Realization of work plan;
2. Attendance in committee meetings;
Assessor 3. Quality of supervision; and
4. Recommendations provided.
The performance assessment of the Board of Commissioners is conducted periodically once a year by each member. This assessment process
takes into consideration the achievement of the agreed assessment aspects. Results of Performance Assessment
Aspects of Performance Assessment The Audit Based on the 2025 performance assessment procedures and criteria, the Audit Committee is deemed to have
Committee performed its duties and responsibilities effectively, particularly in monitoring and evaluating the audit of the Financial
The Board of Commissioners’ performance assessment involves various essential aspects. These aspects are designed to present a
Statements and the effectiveness of Avian Brands’ internal control systems across all operational aspects. The Audit
comprehensive picture of the Board of Commissioners’ collegial contribution to achieving of Avian Brands’ strategic objectives. The Board of
Committee also played an active role in ensuring compliance with applicable auditing standards and strengthening
Commissioners’ performance assessment aspects are described as follows:
Avian Brands’ transparency and risk management resilience. This contribution has further enhanced healthy
1. Supervising the management of Avian Brands performed by the Board of Directors;
accountability and corporate governance within the Avian Brands environment. Furthermore, the Audit Committee
2. Reviewing, examining, and approving Avian Brands’ annual work plan;
held 5 meetings throughout 2025, focusing on strategic agendas in accordance with the annual work plan and key
3. Performing tasks specifically assigned to the Board of Commissioners in accordance with Avian Brands’ Articles of Association, applicable
issues concerning internal oversight and control.
laws and regulations, and/or GMS resolutions;
4. Performing duties and responsibilities in accordance with the provisions of Avian Brands’ Articles of Association and the resolutions of the The Nomination Based on the 2025 performance assessment procedures and criteria, the Nomination and Remuneration Committee
GMS; and Remuneration is deemed to have performed its functions optimally by providing strategic recommendations regarding nomination
5. Conforming to Avian Brands’ Articles of Association as well as applicable laws and regulations, and the obligations to perform duties in Committee and remuneration policies, as well as the development of human resources governance at the Board of Commissioners
accordance with the principles of professionalism, efficiency, transparency, independence, accountability, responsibility, and fairness, and Board of Directors levels. The Nomination and Remuneration Committee also actively ensured that all processes
including the convention of the Board of Commissioners Meetings in accordance with applicable regulations; were aligned with the principles of transparency, fairness, and accountability. The Committee’s contributions have
6. Evaluating performance during the financial year, assessed based on the effectiveness of supervision and contribution to achieving Avian further strengthened the organizational structure and supported the sustainable achievement of Avian Brands’
Brands’ strategic targets. long-term objectives. Furthermore, the Nomination and Remuneration Committee held 3 meetings throughout 2025,
7. Measuring the Board of Commissioners’ competence in carrying out its duties and responsibilities, including knowledge and expertise which focused on evaluating remuneration policies and implementing the nomination program for the Board of
relevant to Avian Brands’ industry; and Commissioners.
8. Measuring the level of attendance at Board of Commissioners meetings, both internal and joint meetings with the Board of Directors. The Good Based on the 2025 performance assessment procedures and criteria, the Good Corporate Governance Committee
Corporate is deemed to have performed its duties and responsibilities effectively in supporting the Board of Commissioners’
Assessment Results
Governance oversight function. The Good Corporate Governance Committee has demonstrated meticulousness and professionalism
Based on the 2025 performance assessment procedures and criteria applied, the Board of Commissioners is deemed to have performed its Committee in handling all reports of violations against the Business Ethics and Code of Conduct, as well as providing appropriate
roles and responsibilities optimally. The evaluation results reflect the dedication, integrity, and competence of the Board of Commissioners resolution recommendations, including the imposition of sanctions on the parties involved. Furthermore, the Good
in overseeing and providing strategic direction for the sustainability of Avian Brands. The solid performance of Avian Brands throughout Corporate Governance Committee played an active role in periodically reviewing Avian Brands’ ESG data to ensure
2025 serves as a tangible reflection of the effectiveness of the oversight function performed, while simultaneously demonstrating the Board alignment between sustainability performance and GCG pillars. Additionally, the Good Corporate Governance
of Commissioners’ strong commitment to maintaining stability and supporting the sustainable growth of Avian Brands. Furthermore, the Committee held 4 meetings throughout 2025, focusing on strategic issues of mutual concern.
Board of Commissioners is assessed to have been active in exercising its oversight function through involvement in 6 (six) internal meetings
and 12 (twelve) joint meetings with the Board of Directors throughout 2025. These meetings addressed strategic agendas in accordance
with the work plan as well as critical issues of mutual concern. This high level of engagement reinforces a constructive and collaborative
oversight role in ensuring the achievement of Avian Brands’ long-term objectives.
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The Board of Directors Dual Appointments of the Board of Directors
The Board of Directors Charter regulates the provisions regarding dual appointment that may be held by the members of the
The Board of Directors is the primary organ responsible for the management of all operational aspects of Avian Brands. It plays Board of Directors. These provisions are designed to ensure that each member of the Board of Directors can comprehensively
a key role in formulating and implementing strategic policies, managing resources, and ensuring that business activities are perform their responsibilities fully focused, without interference from other interests that could potentially lead to conflicts
carried out in alignment with the Vision, Mission, and Values of Avian Brands. In performing its duties, the Board of Directors or overlaps in decision-making. Through these regulations, Avian Brands reaffirms the importance of the principles of
holds full responsibility for operational performance and sustainability, while upholding the principles of prudence and long- independence, accountability, and managerial effectiveness, ensuring that policies adopted reflect the best interests of Avian
term orientation. Brands and all stakeholders. The rules regarding dual appoinments also serve as part of the internal control mechanism aimed
at maintaining the quality of leadership and the consistent implementation of GCG principles throughout all levels of the
Furthermore, the Board of Directors is authorized to represent Avian Brands both in and out of court and plays an active role organization. Information regarding the dual appointment of the Board of Directors is described as follows:
in building strategic partnerships and strengthening Avian Brands’ reputation. Each member of the Board of Directors holds 1. The Board of Directors members may hold dual appointments as:
functional responsibilities in accordance with the division of authority, yet they continue to work collectively in synergy, to a. The Board of Directors member in 1 other Issuer or Public Company;
ensure that every strategic decision is made in the best interest of Avian Brands and all stakeholders. b. The Board of Commissioners member in a maximum of 3 other Issuers or Public Companies; and
c. Committee member in a maximum of 5 committees in Avian Brands or other Public Company in which he/she is a
Board of Directors member or a Board of Commissioners member; and
The Board of Directors Charter 2. Dual appointments mentioned in the points above may only be carried out provided that it does not conflict with other
laws and regulations.
Avian Brands established the Board of Directors Charter on August 16, 2021 (the “Board of Directors Charter”), to serve as a
guideline for the Board of Directors in performing the management functions of Avian Brands. The Board of Directors Charter
systematically regulates the scope of authority, responsibilities, work ethics, and the principles of collective work of the Board Independence
of Directors in managing Avian Brands. The provisions in this charter were developed with reference to Avian Brands’ Articles
of Association and prevailing laws and regulations, and are aligned with the efforts to achieve Avian Brands’ Vision, Mission, Avian Brands consistently upholds the principle of independence as the primary foundation in every strategic decision-making
and Values. Through the Board of Directors Charter, the Board of Directors has a clear reference in exercising leadership that is process. Each member of the Board of Directors acts professionally, oriented toward the best interests of Avian Brands, and
accountable, adaptive, and oriented toward sustainable value creation for all stakeholders. remains free from external pressures or influences that could lead to conflicts of interest. This independent stance serves as a
guarantee that all policies and decisions are grounded in objective considerations, in-depth analysis, and fair judgment.
Composition of the Board of Directors Independence of the Board of Directors not only preserves the integrity of the decision-making process but also ensures that
implemented policies align with Avian Brands’ long-term vision while meeting stakeholder expectations. By prioritizing high
The composition of Avian Brands’ Board of Directors is provided under Article 13 paragraph (1) of the Articles of Association, professionalism and responsibility, the Board of Directors is committed to creating sustainable value in a transparent, fair, and
which stipulates that the Board of Directors shall consist of at least 3 (three) members. This provision is designed to ensure accountable manner for all stakeholders.
implementation of effective, structured, and accountable management functions, in line with GCG pillars that emphasize
professionalism, integrity, and responsibility. Appointment and dismissal of members of the Board of Directors fall under the
authority of the GMS, with a term of office of five years and eligibility for reappointment in accordance with applicable laws Duties and Responsibilities of the Board of Directors
and regulations.
The performance of duties and responsibilities of Avian Brands’ Board of Directors is guided by the Board of Directors Charter. The
In forming the Board of Directors, Avian Brands also prioritizes diversity in background, experience, expertise, and age range Board of Directors plays a key role in designing, implementing, and reviewing business strategies, managing risks, overseeing
to enrich perspectives in the policy formulation process, strengthen managerial capabilities, and enhance Avian Brands’ financial performance, and ensuring compliance with applicable regulations. Furthermore, the Board of Directors upholds high
responsiveness to industry dynamics. In 2025, the composition of the Board of Directors remained unchanged from the previous ethical standards, maintains reporting transparency, and builds constructive relationships with all stakeholders. Throughout
year, continuing to consist of 5 members performing their duties collaboratively. Information regarding the composition of 2025, the Board of Directors reviewed, monitored, and supervised the execution of Avian Brands’ strategies through Joint
Avian Brands’ Board of Directors as of December 31, 2025, is detailed as follows: Meetings of the Board of Directors and the Board of Commissioners held on a monthly basis. Further information on the duties
and responsibilities of the Board of Directors is described as follows:
1. Executing, and bearing the responsibilities for, the 4. Managing Avian Brands’ assets in accordance with the
Name Position management of Avian Brands for Avian Brands’ interests prevailing laws and regulations;
Wijono Tanoko President Director in accordance with the purposes and objectives of Avian 5. Implementing risk management system and GCG
Ruslan Tanoko Vice President Director Brands which have been stipulated in the Articles of principles in each of Avian Brands’ business activities at
Association; all organizational levels or stages;
Robert Christian Tanoko Director
2. Managing Avian Brands in accordance with the 6. Establishing Avian Brands’ organizational structure and
Kurnia Hadi Sinanto Director
authorities and responsibilities as stipulated in the working procedures;
Angelica Tanisia Jozar Director Articles of Association and the prevailing laws and 7. Convening Annual GMS and other GMS in accordance
regulations; with the Articles of Association as well as the laws and
3. Formulating strategies and/or annual work plans, regulations; and
including Avian Brands’ annual expenditure budgets, 8. Forming supporting committees in accordance with
which are submitted to the Board of Commissioners for the prevailing laws and regulations, and evaluating the
approval prior to the commencement of the relevant performance of such committees at the end of each
financial year, as well as monitoring the implementation financial year.
of Avian Brands’ strategies and/or annual work plans; .
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Division of Duties of the Board of Directors Internal Meetings of the Board of Joint meetings with the Board of
GMS
Directors Commissioners
Board of Directors of Avian Brands has established the division of duties among its members through the Circular Resolution
of the Board of Directors No. 013/AA/SK/DIR/IX/2023 dated September 20, 2023, to enhance the effectiveness and efficiency Name Position Extraordinary
Number of Total Attendance Number of Total Attendance Annual GMS
of managerial functions. Each member of the Board of Directors has a clear focus and responsibility in accordance with their GMS
Meeting Attendance (%) Meeting Attendance (%) 2025
professional expertise and experience, ensuring that the decision-making process is faster, more accountable, and well- 2025
targeted.
Kurnia Hadi
Director 12 11 91.67 12 12 100.00
This structured division of duties ensures optimal internal coordination and the comprehensive management of all aspects Sinanto
of Avian Brands’ business, while remaining responsive to the dynamics and business challenges faced. The duties and Angelica
Director 12 12 100.00 12 10 83.33
responsibilities of each member of the Board of Directors are described as follows: Tanisia Jozar
Name Position Duties and Responsibilities
Competence Development of the Board of Directors
Wijono Tanoko President Director Mr. Wijono is responsible for the operation of Avian Brands as a whole. The President Director
oversees the other four Directors.
Policy on the Competence Development of the Board of Directors
Ruslan Tanoko Vice President Mr. Ruslan holds the responsibility as the Vice President Director and has the duties and functions The commitment to implementing continuous competence development programs for the Board of Directors is articulated
Director concerning Avian Brands’ business development including sales and marketing, as well as
in the Board of Directors Competence Development Policy. This policy aligns with the provisions of the Board of Directors
overseeing Avian Brands’ Information Technology Division, Sales Division, and Marketing Division.
Charter, which underscores the importance of ongoing capacity building in leadership and professionalism, to effectively
Robert Christian Director Mr. Robert is responsible for and has the duties and functions concerning Avian Brands’
respond to dynamics in economics, finance, industry, and regulation, as well as other strategic issues relevant to Avian Brands’
Tanoko operational activities and for overseeing the Operations Division, including the Department of
Procurement, Strategic Management System, and Sustainability. business activities. To meet these role requirements, each member of the Board of Directors is required to actively update their
Kurnia Hadi Director Mr. Hadi is responsible for and has the duties and functions concerning the management of
knowledge and insights through participation in various development programs, including training and education programs,
Sinanto Avian Brands’ finances, accounting, taxes, and investor relations. seminars, site visits, benchmarking, and brainstorming sessions. This approach not only strengthens the Board of Directors’
Angelica Tanisia Director Mrs. Angel is responsible for and has the duties and functions for developing Avian Brands’ preparedness in formulating strategic policies but also serves as a vital instrument in ensuring that Avian Brands’ management
Jozar business in the Research, Development & Innovation sector. remains adaptive and innovative, providing added value for all stakeholders.
Implementation of the Board of Directors’ Competence Development Program
The Board of Directors Meeting Information related to the competence development programs attended by members of Avian Brands’ Board of Directors
throughout 2025 has been disclosed in the Company Profile Chapter, in particular the Profile section of each member of the
Meeting Policy Board of Directors.
The Board of Directors of Avian Brands conducts regular meetings in accordance with the provisions of OJK Regulation
No. 33/POJK.04/2014 concerning the Board of Directors and Board of Commissioners of Issuers or Public Companies, as well
as the Articles of Association of Avian Brands. Based on these provisions, internal meetings of the Board of Directors must be Orientation Program for New Members of the Board of Directors
held at least once every month. Additionally, joint meetings between the Board of Directors and the Board of Commissioners
are scheduled at least once every four months as a platform for strategic coordination between the primary organs of Avian Avian Brands has implemented a policy concerning orientation program for newly appointed members of the Board of
Brands. Both types of meetings play a crucial role in ensuring that all policies, initiatives, and operational steps implemented Directors. Through this program, new members of the Board of Directors are expected to promptly gain a deep understanding
support the achievement of Avian Brands’ sustainable performance and integrity. of Avian Brands’ internal and external dynamics, enabling them to take an active and strategic role in the decision-making
process, resource management, and the execution of long-term strategies. Orientation program for newly appointed Board of
Meeting Convention Directors includes the following:
Throughout 2025, the Board of Directors has convened 12 internal meetings and 12 joint meetings with the Board of 1. Knowledge of Avian Brands, among others: 2. Knowledge concerning the designation of the Board
Commissioners. Information on the number of meetings and attendance rate of the Board of Directors, is outlined as follows: a. Avian Brands’ Vision, Mission, purposes, and objectives; of Directors, among others:
b. Avian Brands’ strategy; a. Duties, responsibilities, and authorities of the
c. Avian Brands’ medium and long-term plans; Board of Directors;
Internal Meetings of the Board of Joint meetings with the Board of
GMS d. Avian Brands’ operational performance; b. Working time;
Directors Commissioners
e. Avian Brands’ financial performance; and c. Relationships with members of the Board of
Name Position f. Avian Brands’ risk management; Commissioners; and
Extraordinary
Number of Total Attendance Number of Total Attendance Annual GMS d. Relevant rules/provisions.
GMS
Meeting Attendance (%) Meeting Attendance (%) 2025
2025
Wijono President
Implementation of Orientation Program for New Members of the Board of Directors
12 12 100.00 12 10 83.33 Considering that the composition of Avian Brands’ Board of Directors in 2025 remains the same as the previous year, this year,
Tanoko Director
Vice Avian Brands did not conduct any orientation programs for the new members of the Board of Directors.
Ruslan
President 12 12 100.00 12 12 100.00
Tanoko
Director
Robert
Christian Director 12 11 91.67 12 12 100.00
Tanoko
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Performance Assessment of the Board of Directors Results of Performance Assessment
The Related Party Based on the 2025 performance assessment procedures and criteria applied, the Related Party Transaction Committee
Policy, Procedure, and Implementation of Performance Assessment Transaction is deemed to have performed its role effectively in supporting the Board of Directors by providing constructive input
Committee and advice on every affiliated transaction conducted by Avian Brands and its Subsidiaries. All such transactions have
Policy concerning performance assessment of the Board of Directors is based on the Performance Assessment Policy of the Board of been ensured to meet the principles of fairness, comply with customary business practices, and adhere to prevailing
Commissioners and the Board of Directors of Avian Brands which was stipulated on December 27, 2021 and last updated on December 18, laws and regulations. Furthermore, throughout 2025, the Related Party Transaction Committee held 4 meetings to
2025, as well as other relevant regulations. With this policy, each member of the Board of Commissioners and the Board of Directors assesses discuss agendas in accordance with the work plan as well as key issues of mutual concern.
the performance of the Board of Directors collegially, rather than individually. This assessment is designed to assess the effectiveness and The Corporate Based on the 2025 performance assessment procedures and criteria applied, the Corporate Secretary of Avian Brands is
cooperation of all members of the Board of Directors in carrying out Avian Brands’ management. Secretary deemed to have performed its duties and responsibilities optimally. This role is reflected in the active monitoring of the
latest developments in the capital market sector and ensuring Avian Brands’ compliance with all prevailing laws and
Assessor regulations. Furthermore, the Corporate Secretary has provided strategic recommendations and input to the Board of
Directors and the Board of Commissioners to ensure that every policy and action taken by Avian Brands is grounded
The performance assessment of the Board of Directors is conducted periodically once a year, by each member of the Board of Commissioners. in the appropriate regulatory framework. Additionally, the Corporate Secretary has consistently attended and played
In this regard, each member of the Board of Directors submits a collegial assessment of the Board of Directors to evaluate the implementation a role in organizing meetings for the Board of Commissioners, the Board of Directors, and related committees, as well
of duties and achievement of targets throughout the financial year. This assessment process takes into consideration the achievement of as preparing minutes of meetings as a form of accountable documentation in the company’s decision-making process.
the agreed assessment aspects.
The Internal Audit Based on the 2025 performance assessment procedures and criteria applied, the Internal Audit Unit is deemed to
Aspects of Performance Assessment Unit have performed its role effectively and demonstrated solid performance. The Internal Audit Unit successfully provided
strategic support to the Board of Directors in the implementation of the internal control system, risk management,
The Board of Directors’ performance assessment involves various essential aspects. These aspects are designed to present a comprehensive and GCG pillars across all of Avian Brands’ operational lines. With a commitment to compliance and continuous
picture of the Board of Directors’ collegial contribution to achieving Avian Brands’ strategic objectives. The Board of Directors’ performance improvement, the Internal Audit Unit ensures that every business process operates in accordance with established
assessment aspects are described as follows: standards, thereby supporting the achievement of organizational effectiveness and efficiency. Furthermore,
throughout 2025, the Internal Audit Unit held 12 meetings with the Board of Directors, 4 meetings with the Audit
1. Leading, managing, and controlling Avian Brands in 6. Conforming to Avian Brands’ Articles of Association as well as prevailing laws Committee, and 2 meetings with the Public Accounting Firm, discussing topics in accordance with the annual work
accordance with Avian Brands’ objectives; and regulations, and the obligations to perform duties in accordance with plan and key issues of strategic issues.
2. Making efforts to improve the efficiency and the principles of professionalism, efficiency, transparency, independence,
effectiveness of Avian Brands; accountability, responsibility, and fairness, including the convention of the
3. Controlling, maintaining, and managing Avian Board of Directors Meetings in accordance with applicable regulations;
Brands’ assets; 7. Evaluating performance during the financial year, assessed based on
4. Formulating an annual work plan that contains Avian the achievement of Avian Brands’ operational and financial targets, the
Brands’ annual budget and submitting the plan to the implementation of sustainability policies, and the environmental, social, and
Board of Commissioners for approval before the start
of the next financial year;
governance performance of Avian Brands;
8. Measuring the Board of Directors’ competence in carrying out its duties and The Board of Commissioners and
the Board of Directors Diversity Policy
5. Performing their duties and responsibilities in responsibilities, including knowledge and expertise relevant to Avian Brands’
accordance with the provisions of Avian Brands’ industry; and
Articles of Association and the resolutions of the 9. Measuring level of attendance at Board of Directors meetings, both internal
GMS; and joint meetings with the Board of Commissioners.
Results of Performance Assessment Avian Brands implements a diversity policy within the composition of the Board of Commissioners and the Board of Directors,
as stipulated in the Board of Commissioners Charter and the Board of Directors Charter. This policy emphasizes the importance
Based on the 2025 performance assessment procedures and criteria applied, the Board of Directors of Avian Brands is deemed to have
performed its duties and responsibilities optimally. The Board of Directors has successfully implemented business strategies aligned with of a composition that reflects diversity in age, educational background, expertise, and professional experience to enhance the
the established work plans and budgets, while demonstrating solid leadership in managing company resources optimally. These evaluation effectiveness of oversight and management functions. Avian Brands believes that diversity at the managerial level serves as
results are evidenced by Avian Brands’ sustained performance amidst challenging business dynamics. Furthermore, throughout 2025, the a vital foundation for innovation, organizational effectiveness, and an inclusive work culture. The diversity of composition of
Board of Directors held 12 internal meetings and 12 joint meetings with the Board of Commissioners, addressing strategic agendas in Avian Brands’ Board of Commissioners and the Board of Directors as of December 31, 2025 is described as follows:
accordance with the work plan and key issues of mutual concern.
Educational
Performance Assessment of Organs Under the Board of Directors Name Position Citizenship Gender Age Background and
Skills
President
Policy, Procedure, and Implementation of Performance Assessment Hermanto Tanoko Indonesian Male 63 Years Old Management
Commissioner
The performance assessment policy of organs under the Board of Directors aims to ensure that each organ has carried out its duties Mohammad Noor Independent
and responsibilities effectively and efficiently. This assessment also aims to identify areas that require improvement and development. Indonesian Male 68 Years Old Economy
Rachman Soejoeti Commissioner
Results of the assessment are subsequently factored into the reappointment process of members of the organs supporting the Board of
Directors, ensuring that only the most accomplished individuals may remain to support the Board of Directors in carrying out Avian Brands Industrial Engineering
Oscar Christian Maria Independent
management functions. Dutch Male 61 Years Old and Business
Jozef Wezenbeek*) Commissioner
Administration
Assessor Wijono Tanoko President Director Indonesian Male 73 Years Old Sales and Marketing
Performance assessment of organs under the Board of Directors is conducted by the Board of Directors periodically at the end of each Ruslan Tanoko Vice President Director Indonesian Male 50 Years Old Chemical Engineering
financial year.
Robert Christian
Director Indonesian Male 40 Years Old Business and Trading
Aspects of Performance Assessment Tanoko
Kurnia Hadi Sinanto Director Indonesian Male 56 Years Old Accounting
The performance assessment process for organs under the Board of Directors involves a careful evaluation of the assignment reports and
annual reports on the performance of each organ’s activities. The performance assessment aspects for organs under the Board of Directors Angelica Tanisia
Director Indonesian Female 44 Years Old Engineering
are described as follows: Jozar
1. Realization of the implementation of duties and responsibilities; 3. Meeting attendance; and *)
Effectively served as an Independent Commissioner based on the Resolution of the Extraordinary General Meeting of Shareholders of
2. Competence possessed; 4. Recommendations provided. Avian Brands dated April 10, 2025.
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Nomination and Remuneration of the Board of
Remuneration Structure and Amount
The remuneration structure received by Avian Brands’ Board of Commissioners and the Board of Directors consists of:
Commissioners and the Board of Directors
Nomination of the Board of Commissioners and the Board of Directors Allowances in
Other
the Form of
Allowances
Natura
Policy and Procedure of Nomination of the Board of Commissioners and the Board of Directors
Avian Brands implements structured nomination policies and procedures for members of the Board of Commissioners and
the Board of Directors to ensure the selection of individuals with integrity, competence, and alignment with Avian Brands’
Avian Brands’
strategic direction and values. This process begins with an organizational needs analysis to identify the ideal leadership profile
Remuneration
based on expertise, experience, and capacity to support business sustainability.
Structure
The nomination process is supported by the Nomination and Remuneration Committee, which assesses candidates objectively
and comprehensively, considering their professional track record, industry insights, work ethics, and strategic capabilities. Further
information on the Avian Brands’ Board of Commissioners and Board of Directors nomination procedure is described as follows: Discretionary
Salary
Bonus
1. The Nomination and Remuneration Committee (“Committee”) receives proposals from Shareholders/members of
the Board of Commissioners/members of the Board of Directors regarding the nominations of the Board of Commissioners
and/or the Board of Directors;
2. The Committee discusses the referred proposal in the Committee meeting. The discussion is stated in the minutes of
the Committee meeting. During the meeting, several things are considered, including:
a. Reasons and/or considerations for the proposal;
b. Qualifications of the candidate in accordance with the relevant proposals; and Information concerning the amount of remuneration received by Avian Brands’ Board of Commissioners and the Board of
c. Requirements in accordance with Avian Brands’ Articles of Association, the Board of Commissioners Charter, and/or the Directors in 2025 is disclosed as follows:
Board of Directors Charter;
3. After deliberation, the Committee provides recommendations to the Board of Commissioners. The recommendation is (in million Rupiah)
stated in the form of a Committee Decree;
Recipient Total Remuneration*
4. Based on the recommendation from the Committee, the Board of Commissioners decides to nominate candidates for
the Board of Commissioners and/or the Board of Directors to the chairman of the GMS. The resolution of the Board of The Board of Commissioners 64,463
Commissioners is stated in the form of the Board of Commissioners Decree; and The Board of Directors 33,840
5. The chairman of the GMS determines the composition and/or changes in the members of the Board of Commissioners and/ Total 98,303
or the Board of Directors of Avian Brands. The resolution of the GMS is stated in the Minutes of the GMS. *)
Other than remuneration received by the Board of Commissioners and the Board of Directors of Avian Brands’ Subsidiaries.
Avian Brands upholds the principles of transparency and accountability at every stage of the nomination process to ensure fair,
Award and Compensation Policy Which Consider Long-Term Company Performance
objective selection, free from conflicts of interest. This process upholds independence and integrity by assessing the suitability
Avian Brands establishes award and compensation policies that are not only oriented toward short-term achievements but are
of candidate profiles against organizational needs and their alignment with Avian Brands’ Vision, Mission, and Values. Through
also directed to support the Company’s long-term growth and create sustainable value for Shareholders. This policy regulates
this policy, the elected Board of Commissioners and Board of Directors are expected not only to possess high managerial and
the balance between fixed remuneration (salary and allowances) and variable remuneration (performance-based bonuses) by
oversight capacities but also to serve as agents of change for all stakeholders.
taking into account Key Performance Indicators (“KPI”).
In practice, long-term incentives are granted based on sustainable achievements, such as profitability, market growth,
Remuneration of the Board of Commissioners and the Board of Directors operational efficiency, eco-friendly product innovation, and the attainment of other sustainability targets. This approach is in
line with the principle of ex-ante performance criteria, ensuring that remuneration success measures are based on measurable
Procedure and Basis of Remuneration Determination of the Board of Commissioners and standards that emphasize the long-term interests of Avian Brands and its Shareholders.
the Board of Directors
The procedures and basis for determining the remuneration of Avian Brands’ Board of Commissioners and Board of Directors
The evaluation process for the implementation of this policy is conducted periodically by the Nomination and Remuneration
are carefully structured to guarantee the principles of fairness, transparency, and a direct correlation with each individual’s
Committee under the supervision of the Board of Commissioners, thereby ensuring transparency, accountability, and
performance and scope of responsibilities. This determination is in accordance with the GMS resolutions, the implementation
compliance with good corporate governance practices. Through this policy, Avian Brands reaffirms its commitment that every
of which may be delegated to the Board of Commissioners while continuing to consider input and recommendations from
award and compensation granted is a reflection of performance oriented toward business continuity, business resilience, and
the Nomination and Remuneration Committee. In practice, the determination of remuneration amounts takes into account
long-term value creation for all stakeholders.
several factors as follows:
1. The prevailing remuneration in the industry, in accordance with Avian Brands’ business activities and business scale in the
industry;
2. Duties, responsibilities, and authorities of the Board of Commissioners and the Board of Directors in regard to the goals
achievement and performance of Avian Brands;
3. Target and performance of each member of the Board of Commissioners and the Board of Directors; and
4. The balance between fixed and variable benefits.
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Sharia Supervisory Board
Profil of the Audit Committee
The profile of each member of the Audit Committee is described as follows:
Until the end of 2025, Avian Brands does not have a Sharia Supervisory Board under the consideration that the products and
services produced, the management system, fund management, and investment policies carried out by Avian Brands have not
Mohammad Noor
been fully implemented in accordance with sharia principles.
Rachman Soejoeti
Chairman of the Audit Committee
Committees Under the Board of Commissioners Term of Office and Basis of Appointment
2021 – 2026:
The Board of Commissioners Decree of Avian Brands No. 023/AA/DIR/VI/2021 dated August 16, 2021.
To strengthen the effectiveness of its oversight and advisory functions, the Board of Commissioners of Avian Brands is
supported by 3 committees: the Audit Committee, the Nomination and Remuneration Committee, and the Good Corporate
Governance Committee. These three committees hold strategic mandates to assist the Board of Commissioners in performing
The complete profile of the Chairman of the Audit Committee can be found in the Profile of the Board of Commissioners
its duties objectively, accountably, and in accordance with GCG pillars.
section of this Annual Report.
The Audit Committee
The Audit Committee is a supporting organ of the Board of Commissioners that serves to strengthen the oversight function,
particularly regarding the effectiveness of the internal control system and the integrity of Avian Brands’ financial reporting. The
Audit Committee assesses the adequacy and consistency of internal control implementation to prevent potential irregularities
and ensure that Financial Statements are prepared in a transparent, accurate, and accountable manner. Furthermore, the Audit
Committee reviews the independence and professionalism of the external auditor to ensure that the audit process is free from
intervention and complies with applicable regulations.
The Audit Committee Charter
Avian Brands established the Audit Committee Charter on August 16, 2021 (the “Audit Committee Charter”). This charter was
comprehensively drafted to ensure that the Audit Committee’s duties and responsibilities are carried out efficiently, effectively,
and independently, while upholding the principles of transparency and good governance. Based on this foundation, the Audit
Committee is expected to provide a significant contribution toward strengthening the internal oversight system and enhancing
the quality of decision-making, while maintaining stakeholder trust in the integrity and accountability of Avian Brands.
Composition of the Audit Committee
The composition of Avian Brands’ Audit Committee is regulated by the Audit Committee Charter, which stipulates a minimum
of 3 members, consisting of 1 Independent Commissioner as Chairperson and 2 other independent members. This structure is
designed to maintain objectivity and effectiveness of oversight function in line with GCG principles. All members are required
to meet the competency and independence requirements as regulated in POJK No. 55/POJK.04/2015, including expertise in
accounting, finance, law, capital markets, and an understanding of corporate governance.
The appointment and dismissal of members are conducted by the Board of Commissioners professionally and transparently,
with integrity and performance considered. Avian Brands also emphasizes diversity in background, education, and professional
experience to improve the quality of the Audit Committee’s analysis and evaluation. Throughout 2025, there were no changes
to the composition of the Audit Committee, which continued to consist of 3 members performing their duties collaboratively,
independently, and with integrity. Information regarding the composition of Avian Brands’ Audit Committee as of December
31, 2025, is detailed as follows:
Name Position
Mohammad Noor Rachman Soejoeti Chairman of the Audit Committee
Sammy TS Lalamentik Member of the Audit Committee
Wardiman Member of the Audit Committee
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Governance
PT Avia Avian Tbk
Sammy TS Wardiman
Lalamentik
Member of the Audit Committee Member of the Audit Committee
Indonesian, 63 years old. Indonesian, 53 years old.
Term of Office and Basis of Appointment • Head of Sub Division of the Directorate of Capital Term of Office and Basis of Appointment Education/Training in 2025
Market Supporting Institutions and Professionals
2021 – 2026: of Financial Services Authority - PM2B Department 2024 – 2026: • Implementation of the Value Added Tax Rate
The Board of Commissioners Decree of Avian Brands (2014 - 2020); and Minutes of the Meeting of the Board of Commissioners Increase to 12% (PMK No. 131 of 2024) by Ikatan
• Ad interim Head of Accountant Compliance - DLPM of Avian Brands No. 004/AA/BAR/KOM/IX/2024 dated Konsultan Pajak Indonesia (“IKPI”);
No. 023/AA/DIR/VI/2021 dated August 16, 2021.
of Financial Services Authority - PM2B Department September 17, 2024. • Guidelines for Preparing Working Papers for Tax
(2016 - 2018). Consultants in Providing Tax Services, including
Educational Background
Educational Background Annual Corporate Income Tax Returns and Individual
Diploma III in Accounting from Sekolah Tinggi Dual Appointments Income Tax Returns (Tax Compliance) by IKPI;
• Diploma III in Accounting from Polytechnic of • Socialization of PMK No. 15 of 2025 concerning Tax
Akuntansi Negara (“STAN”), Tangerang in 1984.
• Commissioner of PT Kredit Rating Indonesia Sriwijaya University, Palembang in 1994; and Audits by the Directorate General of Taxes & Post-
(2020 - present); • Bachelor of Economics majoring in Accounting PMK No. 15 of 2025 Tax Audit Management by IKPI;
Certifications • Independent Commissioner and Chairman of from the University of Indonesia Extension • Strategies for handling SP2DK and Tax Audits in
the Audit Committee of PT Super Energy Tbk (2020 Program, Depok in 1998. Accordance with PMK No. 15 of 2025 by IKPI;
Financial Services Sector Supervisory Certification
- present); • Corporate Income Tax Working Paper and Risk
(Sektor Jasa Keuangan or “SJK”) Level 2. • Independent Commissioner and Chairman of Certifications Management as of 2025 by IKPI;
the Audit Committee of PT Perdana Karya Perkasa • IKPI National Seminar: Uncovering the Facts of Big
Work Experiences Tbk (2021 - present); • Chartered Accountant (“CA”) certification; and Data Behind Tax Audits and Investigations. Policy
• Independent Commissioner of PT OSO Sekuritas • Level B Tax Consultant Practicing License. Direction and Supervision of Tax Consultants and
• Examiner of the Inspectorate General of the Non-Tax Consultants. Arrangement of Tax Court
Indonesia (2022 – present); and
Ministry of Finance (1984 - 1989);
• Member of the Audit Committee of PT Nusantara Work Experiences Legal Counsel by IKPI;
• Executing officer of the Bureau of Brokerage • Optimizing Annual Tax Return Reporting in the
Sejahtera Raya Tbk (2023 – present);
Development for the Capital Market Implementing • Accounting Staff of PT Eka Sinar Abadi (1995 - 1997); Core System of Tax Administration (“CTAS”) Era
• Independent Commissioner of PT Surya Fajar Urun
Agencies (1989 - 1991); • Accounts Payable Supervisor of PT Carti Satria and HTN, HAN, Civil, and Criminal Aspects of
Dana (2024 – present);
• Head of Sub Division of Bureau of Corporate Financial Megaswalayan (Carrefour) (1998 – 1999); Indonesian Taxation by IKPI;
• Independent Commissioner and Chairman of the
Assessment I - Capital Market Implementing • Senior Auditor of KAP Hans Tuanakkota & Mustofa • SPT CORETAX First-Year Application for Corporate
Audit Committee of PT Arsy Buana Travelindo Tbk
Agencies Services Sector (1991 - 2000); (Deloitte Touche) (1999 – 2001); and Individual Tax Returns by IKPI;
(2024 – present); and
• Head of Sub Division of Bureau of Accounting • Accounting Manager of Ristia Group (2001 – 2003); • Implementation of Asset Accounting in Accordance
• Commissioner of PT Teknologi Gotong Royong
Standards and Disclosure of Capital Market • Manager of Internal Control and Corporate Finance with the Latest SAK by Ikatan Akuntan Indonesia
(2025 – present).
Supervisory Agencies (2000 - 2006); of Yuwono Group (2003 – 2006); (“IAI”); and
• Head of Sub Division of Bureau of Real Sector • Financial Controller of Vision Group (2006 – 2013); • Management and Implementation of Carbon
Education/Training in 2025 Emissions by IAI.
Company Valuation of Capital Market and Financial and
Institutions Supervisory Agencies (2006 - 2012); - • Senior Manager of PT Mitra Konsultan (2014 - 2019).
• Head of Sub Division of the Directorate of Real Affiliation
Sector Company Valuation of Financial Services
Affiliation Dual Appointments
Authority – Capital Market Sector Supervision Is not an affiliate of members of the Board of
(2013 - 2014); • Director of Finzone Group (2019 – present); Commissioners, members of the Board of Directors,
Is not an affiliate of members of the Board of
• Member of Audit Committee of PT Victoria Care as well as the Main and Controlling Shareholders.
Commissioners, members of the Board of Directors,
Indonesia Tbk (2020 - present);
as well as the Main and Controlling Shareholders.
• Member of Audit Committee of PT Superior Prima
Sukses Tbk (2024 - present); and
• Member of Related Party Transaction Committee
of Avian Brands (2024 - present).
156 2025 Annual Report 2025 Annual Report 157
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Governance
PT Avia Avian Tbk
Duties and Responsibilities of the Audit Committee The Audit Committee Meeting
The duties and responsibilities of Avian Brands’ Audit Committee are set forth in the Audit Committee Charter and related
regulations, which serve as the basis for exercising effective and independent oversight functions. The Audit Committee plays a Meeting Policy
role in assessing the adequacy of internal control systems, evaluating the quality of financial reporting, and ensuring compliance The policy for conducting Avian Brands’ Audit Committee meetings is clearly stipulated in the Audit Committee Charter. Based
with applicable accounting standards and regulations. Furthermore, it is also tasked with reviewing external auditors’ on these provisions, Audit Committee meetings must be held at least once every quarter. To ensure the legitimacy of the
independence and scope, as well as providing strategic recommendations to the Board of Commissioners to strengthen the resulting decisions, a minimum attendance of 51% of all Audit Committee members is required for a meeting to be valid, which
continuous implementation of GCG. Further information on the duties and responsibilities of the Audit Committee based on must include the presence of at least 1 Independent Commissioner as Chairperson. This provision is designed to guarantee
the Audit Committee Charter and other relevant regulations, is described as follows: adequate representation in decision-making and to ensure that all discussion and evaluation processes are conducted
1. Reviewing the financial information to be issued by Avian Brands to the public and/or authorities, including financial collectively, objectively, and accountably to all stakeholders.
statements, projections, and other reports related to Avian Brands’ financial information;
2. Reviewing compliance with internal regulations as well as laws and regulations related to Avian Brands’ activities, and Meeting Convention
submitting the reviews to the Board of Commissioners; Throughout 2025, the Audit Committee convened five meetings. Information on the number of meetings and attendance rate
3. Providing independent opinions in the event of differing opinions between the Management and the accountant on the of the Audit Committee, are outlined as follows:
services provided;
4. Providing recommendations to the Board of Commissioners regarding the appointment of a Public Accountant based on
independence, scope of assignment, and remuneration for services; Number of Total
Name Position Attendance (%)
Meetings Attendance
5. Discussing audit plans including the nature and scope of the audit;
6. Reviewing the adequacy of the audit by considering all significant risks; Mohammad Noor Rachman Soejoeti Chairman of the Audit Committee 5 5 100.00
7. Reviewing the planning, implementation, and supervising the execution of follow-ups by the Board of Directors on the Sammy TS Lalamentik Member of the Audit Committee 5 5 100.00
findings of both internal and external auditors;
Wardiman Member of the Audit Committee 5 5 100.00
8. Reviewing and reporting, to the Board of Commissioners, complaints related to Avian Brands’ accounting and financial
reporting processes, including allegations of errors in the resolutions of the Board of Directors meeting or deviations in the
Competence Development of the Audit Committee
implementation of the resolutions of the Board of Directors meeting;
Avian Brands continuously facilitates the capacity and competence building of Audit Committee members through structured
9. Conducting inspections, either by the Audit Committee itself or by assigning third parties, if necessary;
and relevant development programs. Each year, Audit Committee members are encouraged to participate in various training
10. Reviewing and providing advice to the Board of Commissioners regarding potential conflicts of interest in Avian Brands;
sessions, seminars, and professional forums to update their insights, understand regulatory dynamics, and strengthen their
11. Assisting the Board of Commissioners in carrying out active supervision on the compliance function by:
analytical and evaluative capabilities in performing oversight functions. This initiative aims not only to maintain the Audit
a. evaluating the implementation of Avian Brands’ compliance function with internal regulations as well as laws and
Committee’s preparedness in responding to risk complexities and changes in the business landscape but also to ensure that all
regulations relating to Avian Brands’ activities at least twice in a year; and
oversight processes are conducted objectively, adaptively, and provide added value to Avian Brands’ sustainability. Information
b. providing suggestions to improve the quality of Avian Brands’ compliance function;
related to competence development programs attended by Audit Committee members throughout 2025 has been disclosed
12. Providing recommendations to the Board of Commissioners regarding the appointment, dismissal, and performance
in the profile section of each Audit Committee member.
assessment of the Chairman of the Internal Audit Unit;
13. Maintaining the confidentiality of Avian Brands’ documents, data, and information;
Performance of the Audit Committee’s Duties
14. Reviewing the implementation of risk management performed by the Board of Directors; and
The performance of the Audit Committee’s duties is a vital element in building a credible and accountable oversight system,
15. Providing recommendations on the dismissal of external auditors.
while providing added value to support Avian Brands’ ongoing business sustainability and growth. Information regarding the
performance of the Audit Committee’s duties carried out throughout 2025, is described as follows:
Statement of Independence of the Audit Committee
1. Discussed the year-end audit results of the Consolidated Financial Statements of Avian Brands and its Subsidiaries for the
Each member of Avian Brands’ Audit Committee consistently upholds the principles of independence, objectivity, and prudence
financial year ended December 31, 2024, as audited by KAP Teramihardja, Pradhono & Chandra (a member firm of Crowe
in carrying out all mandated duties and responsibilities. This commitment is clearly reflected through the membership
Global);
structure of the Audit Committee, which is designed to ensure professional execution of oversight functions, free from conflicts
2. Analyzed the Consolidated Financial Statements of Avian Brands and its Subsidiaries for the quarterly periods ended March
of interest. The Audit Committee is chaired by an Independent Commissioner, while the other 2 members are external parties
31, 2025, June 30, 2025, and September 30, 2025;
with independent backgrounds and capacities. This composition enables the Audit Committee to operate with a high level of
3. Evaluated the provision of audit services on annual historical financial information by the Public Accountant and/or Public
integrity and credibility, as well as to provide accurate and impartial recommendations to strengthen overall governance and
Accounting Firm (KAP) for the 2024 financial year;
internal control. All members of the Audit Committee have satisfied the independence requirements in accordance with the
4. Provided recommendations to the Board of Commissioners regarding the appointment of the KAP to conduct the audit of
regulations and rules of GCG practice, namely that the members of the Audit Committee:
the Financial Statements for the 2025 financial year;
1. Are not parties who work or have the authority and responsibility to plan, lead, control, or supervise Avian Brands’ activities
5. Reviewed the independence and objectivity of the KAP in conducting the audit of the Financial Statements for the 2025
within the last 6 months;
financial year;
2. Do not hold Avian Brands’ shares either directly or indirectly in Avian Brands;
6. Reviewed the implementation of the Internal Audit Unit’s work program and provided strategic input to enhance the
3. Have no affiliation with the Board of Commissioners, the Board of Directors, or the Main and Controlling Shareholders of
efficiency and effectiveness of the internal audit function;
Avian Brands; and
7. Reviewed audit findings submitted by both internal and external auditors, and monitored the follow-up on recommendations
4. Have no business relationship, either directly or indirectly, related to Avian Brands’ business activities.
to ensure continuous improvement; and
8. Evaluated the effectiveness of the internal control system and provided constructive advice to strengthen the internal
control system in support of GCG implementation.
The performance of these duties demonstrates the Audit Committee’s commitment to maintaining transparency, accountability,
and the integrity of Avian Brands’ control and financial reporting systems.
158 2025 Annual Report 2025 Annual Report 159
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Good Corporate
Governance
PT Avia Avian Tbk
The Nomination and Remuneration Committee
Hermanto
The Nomination and Remuneration Committee is a committee under the Board of Commissioners that functions to ensure
that the nomination and remuneration processes at Avian Brands are conducted objectively, transparently, and in compliance
Tanoko
with applicable regulations. Furthermore, the Nomination and Remuneration Committee focuses on enhancing the quality Member of the Nomination and Remuneration Committee
of governance through the evaluation of competence, responsibilities, and leadership alignment with Avian Brands’ business
strategies. The existence of the Nomination and Remuneration Committee reaffirms Avian Brands’ commitment to management
practices that are fair, accountable, and oriented toward sustainable performance. Term of Office and Basis of Appointment
2021 – 2026:
The Nomination and Remuneration Committee Charter The Board of Commissioners Decree of Avian Brands No. 023/AA/DIR/VI/2021 dated August 16, 2021.
Avian Brands established the Nomination and Remuneration Committee Charter on August 16, 2021 (the “Nomination
and Remuneration Committee Charter”) as a guideline to ensure that all duties and responsibilities of the Nomination
and Remuneration Committee are carried out systematically, efficiently, and effectively, while upholding the principles
of transparency, independence, and accountability. Through the implementation of the Nomination and Remuneration The complete profile of the Member of the Nomination and Remuneration Committee can be found in the Profile of
Committee Charter, Avian Brands strives to maintain governance integrity and ensure that every decision produced by the Board of Commissioners section of this Annual Report.
the Nomination and Remuneration Committee has a solid foundation and can be professionally accounted for.
The Composition of Nomination and Remuneration Committee
The composition of Avian Brands’ Nomination and Remuneration Committee is regulated in the Nomination and Remuneration Iwan
Committee Charter, which stipulates a minimum of 3 members, consisting of 1 Independent Commissioner as Chairperson and
2 other members who may be from the Board of Commissioners or independent external parties. This structure is designed to Sigit
maintain independence, objectivity, and effectiveness of oversight function in the nomination and remuneration processes in
line with GCG principles. Member of the Nomination and Remuneration
Committee
Appointment and dismissal of members fall under the authority of the Board of Commissioners through an official resolution,
with terms of office regulated according to internal provisions. Throughout 2025, there were no changes to the composition
of the Nomination and Remuneration Committee, which continued to consist of 3 members performing their duties
collaboratively. Information regarding the composition of Avian Brands’ Nomination and Remuneration Committee as of Indonesian, 53 years old.
December 31, 2025, is detailed as follows:
Name Position
Mohammad Noor Rachman Soejoeti Chairman of the Nomination and Remuneration Committee
Hermanto Tanoko Member of the Nomination and Remuneration Committee
Term of Office and Basis of Appointment Dual Appointments
Iwan Sigit Member of the Nomination and Remuneration Committee 2021 – 2026: • Vice Director of Operations of Avian Brands
The Board of Commissioners Decree of Avian Brands (2021 - present); and
No. 033/AA/DIR/VIII/2021 dated August 31, 2021. • Member of the Good Corporate Governance
Profile of the Nomination and Remuneration Committee Committee of Avian Brands (2022 – present).
Educational Background
The profile of each member of the Nomination and Remuneration Committee is described as follows: Education/Training in 2025
Bachelor of Industrial Statistics from Brawijaya
Mohammad Noor University, Malang in 1997. • Benchmarking with PT Astra Honda Motor;
• Business Acumen by NuPMK Consulting;
Rachman Soejoeti
Certification • Benchmarking with PT Bank Central Asia Tbk; and
• Factory Visit by PT Widatra Bakti.
-
Chairman of the Nomination and Remuneration Committee Affiliation
Work Experiences
Is not an affiliate of members of the Board of
Term of Office and Basis of Appointment Operational General Manager of Avian Brands Commissioners, members of the Board of Directors,
(2017 - 2021). as well as the Main and Controlling Shareholders.
2021 – 2026:
The Board of Commissioners Decree of Avian Brands No. 023/AA/DIR/VI/2021 dated August 16, 2021.
The complete profile of the Chairman of the Nomination and Remuneration Committee can be found in the Profile of the
Board of Commissioners section of this Annual Report.
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Good Corporate
Governance
PT Avia Avian Tbk
Duties and Responsibilities of the Nomination and Remuneration Committee Meeting Convention
Throughout 2025, the Nomination and Remuneration Committee convened 3 meetings. Information on the number of
The duties and responsibilities of Avian Brands’ Nomination and Remuneration Committee are based on the Nomination and meetings and attendance rate of the Nomination and Remuneration Committee is outlined as follows:
Remuneration Committee Charter and prevailing laws and regulations. The Nomination and Remuneration Committee plays
a role in ensuring that the nomination process for members of the Board of Commissioners and the Board of Directors is
Number of Total
conducted objectively, transparently, and in alignment with Avian Brands’ strategic needs. Furthermore, the Nomination and Name Position Attendance (%)
Meetings Attendance
Remuneration Committee is also responsible for formulating fair, competitive, and performance-based remuneration policies
to drive optimal performance and support Avian Brands’ long-term sustainable growth. Further information on the duties and Chairman of the Nomination and
Mohammad Noor Rachman Soejoeti 3 3 100.00
Remuneration Committee
responsibilities of the Nomination and Remuneration Committee based on the Nomination and Remuneration Committee
Charter, is described as follows: Member of the Nomination and
Hermanto Tanoko 3 3 100.00
Remuneration Committee
1. Providing recommendations to the Board of Commissioners concerning policy, amount, and structure of the remuneration
for the Board of Commissioners and the Board of Directors which will be a part of the Board of Commissioners’ Report to be Member of the Nomination and
Iwan Sigit 3 3 100.00
Remuneration Committee
submitted to and then stipulated in the GMS;
2. Assisting the Board of Commissioners in performance assessment in relation to the suitability of remuneration received by
Competence Development of the Nomination and Remuneration Committee
each member of the Board of Commissioners and the Board of Directors;
Avian Brands continuously encourages the enhancement of Nomination and Remuneration Committee members’ competence
3. Providing recommendations to the Board of Commissioners regarding:
and professionalism through sustainable development programs relevant to business dynamics. Each year, Nomination and
a. designation composition of the Board of Commissioners and the Board of Directors;
Remuneration Committee members participate in various training sessions, seminars, and discussion forums designed to
b. policy and criteria required in the nomination process of members of the Board of Commissioners and the Board of
broaden their insights, deepen their understanding of strategic issues, and strengthen their capacity to perform nomination
Directors; and
and remuneration functions objectively and effectively. These activities also include updates on best governance practices and
c. policy on performance assessment for members of the Board of Commissioners and the Board of Directors;
the latest regulations applicable to the industrial and capital market sectors. Information related to competence development
4. Assisting the Board of Commissioners in assessing the performance of members of the Board of Commissioners and the
programs attended by Nomination and Remuneration Committee members throughout 2025 has been disclosed in the profile
Board of Directors based on the benchmarks that have been stipulated as assessment considerations;
section of each Nomination and Remuneration Committee member.
5. Providing recommendations to the Board of Commissioners regarding competence development programs for members
of the Board of Commissioners and the Board of Directors;
Performance of the Nomination and Remuneration Committee’s Duties
6. Providing proposals of qualified candidates as members of the Board of Commissioners and/or members of the Board of
The performance of the Nomination and Remuneration Committee’s duties emphasizes the importance of effectiveness,
Directors to the Board of Commissioners to be submitted to the GMS;
objectivity, and accountability in every nomination and remuneration determination process. The Nomination and
7. Performing tasks, other than the aforementioned, given by the Board of Commissioners in accordance with their functions
Remuneration Committee carries out its functions with utmost dedication and prudence to ensure that every policy and
and duties from time to time as necessary; and
recommendation provided to the Board of Commissioners is based on a professional and fair assessment, in accordance with
8. In carrying out its duties, the Nomination and Remuneration Committee is responsible to the Board of Commissioners and
GCG pillars. The primary focus of the Committee’s duties lies in the formulation of meritocracy-based nomination policies and
must act independently.
competitive remuneration structures aligned with performance. Information regarding the performance of the Nomination
and Remuneration Committee’s duties carried out throughout 2025 is described as follows:
Statement of Independence of the Nomination and Remuneration Committee
1. Evaluated and reviewed the structure, policy, and amount of remuneration for members of the Board of Commissioners
Every member of the Nomination and Remuneration Committee performs their duties by upholding the principles of
and the Board of Directors for the 2025 financial year to ensure alignment with the performance, responsibilities, and
independence, objectivity, and integrity in every evaluation process and in providing recommendations to the Board of
condition of Avian Brands;
Commissioners. The Nomination and Remuneration Committee is chaired by an Independent Commissioner who has no
2. Discussed and reviewed the results of self-assessments conducted by each member of the Board of Commissioners on
affiliation with the Board of Directors or other members of the Board of Commissioners, thereby maintaining neutrality in
the collegial performance of the Board of Commissioners and the Board of Directors for the 2024 financial year;
formulating nomination and remuneration policies. The entire work process of the Nomination and Remuneration Committee
3. Supported the performance assessment process of the Board of Commissioners and the Board of Directors for the 2025
is based on the principles of transparency, fairness, and accountability to strengthen GCG implementation and maintain
financial year based on established parameters and provided recommendations to the Board of Commissioners as a basis
stakeholder trust in the professionalism and credibility of Avian Brands’ management.
for strategic decision-making;
4. Reviewed the Key Performance Indicators (“KPI”) of Avian Brands and its Subsidiaries;
The Nomination and Remuneration Committee Meeting
5. Provided recommendations to the Board of Commissioners regarding competence development programs for members
of the Board of Commissioners and the Board of Directors as part of the efforts to enhance leadership quality and GCG
Meeting Policy
implementation;
The policy for conducting Avian Brands’ Nomination and Remuneration Committee meetings is clearly stipulated in the
6. Assisted the Board of Commissioners in the nomination and appointment process of new members of the Board of
Nomination and Remuneration Committee Charter, which mandates that meetings must be held periodically, at least once
Commissioners, including providing professional considerations regarding the appointment of Mr. Oscar Christian Maria
every 4 months. For a meeting to be declared valid and its decisions legitimate, the attendance of the majority of the Nomination
Jozef Wezenbeek as the new Independent Commissioner of Avian Brands;
and Remuneration Committee members is required. Through this mechanism, Avian Brands ensures that the nomination and
7. Reviewed the compliance and effectiveness of the Nomination and Remuneration Committee Charter, as well as the
remuneration processes are conducted objectively, transparently, and based on the principle of prudence, supporting the
Succession Policy in the Nomination Process for Members of the Board of Commissioners and the Board of Directors;
achievement of excellent and sustainable corporate governance.
8. Discussed the 2026 Nomination and Remuneration Committee Work Program; and
9. Performed other duties assigned by the Board of Commissioners, in line with the Committee’s authority and responsibilities
under applicable regulations.
The performance of these duties reflects the strategic role of the Nomination and Remuneration
Committee in supporting the creation of a healthy and transparent corporate governance structure,
oriented to the continued success of Avian Brands’ performance.
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Good Corporate
Governance
PT Avia Avian Tbk
The Good Corporate Governance Committee
The Good Corporate Governance Committee is a committee under the Board of Commissioners that plays a role in strengthening
Kurnia Hadi
the implementation of GCG principles throughout Avian Brands. The Good Corporate Governance Committee is tasked with
monitoring the implementation of the Business Ethics and Code of Conduct, including reviewing and following up on reports
Sinanto
of alleged violations professionally and in accordance with procedures, to maintain the integrity and accountability of Avian Member of the Good Corporate Governance Committee
Brands. Furthermore, the Good Corporate Governance Committee also plays a strategic role in overseeing the implementation
of ESG aspects to ensure the alignment of business practices with long-term sustainability principles.
Term of Office and Basis of Appointment
The Good Corporate Governance Committee Charter 2023 – 2026:
In performing its duties and responsibilities, the Good Corporate Governance Committee is guided by Avian Brands’ Business
Minutes of Meeting of the Board of Commissioners of Avian Brands No. 004/AA/BAR/KOM/VIII/2023
Ethics and Code of Conduct. This document was first established on June 25, 2021, and was last updated on March 24, 2022, to
dated August 16, 2023.
ensure alignment with business dynamics, applicable regulations, and best governance practices. Guided by these provisions,
the Good Corporate Governance Committee consistently ensures that all oversight activities and ethics enforcement are
carried out professionally, accountably, and in line with Avian Brands’ core values. The complete profile of the Member of the Good Corporate Governance Committee can be found in the Profile of
the Board of Directors section of this Annual Report.
Composition of the Good Corporate Governance Committee
Iwan
The composition of Avian Brands’ Good Corporate Governance Committee is established based on a Board of Commissioners’
Resolution with a 3-year term of office. The Good Corporate Governance Committee is chaired by the Director of Operations,
with permanent members including the Director of Finance and Deputy Director of Operations. Furthermore, the Good
Corporate Governance Committee may involve ad hoc members from divisional heads as required by relevant governance
issues, to ensure comprehensive representation and collaboration throughout the organization. Throughout 2025, there were
Sigit
no changes to the composition of the Good Corporate Governance Committee, which continued to consist of 3 members Member of the Good Corporate Governance Committee
performing their duties collaboratively. Information regarding the composition of Avian Brands’ Good Corporate Governance
Committee as of December 31, 2025, is detailed as follows:
Term of Office and Basis of Appointment
Name Position 2023 – 2026:
Minutes of Meeting of the Board of Commissioners of Avian Brands No. 004/AA/BAR/KOM/VIII/2023
Robert Christian Tanoko Chairman of the Good Corporate Governance Committee
dated August 16, 2023
Kurnia Hadi Sinanto Member of the Good Corporate Governance Committee
Iwan Sigit Member of the Good Corporate Governance Committee
The complete profile of the Member of the Good Corporate Governance Committee can be found in the Profile of Member of
the Nomination and Remuneration Committee section in this Annual Report.
Profile of the Good Corporate Governance Committee
The profile of each member of the Good Corporate Governance Committee is described as follows:
Robert Christian
Duties and Responsibilities of the Good Corporate Governance Committee
The duties and responsibilities of Avian Brands’ Good Corporate Governance Committee are carried out based on the
Tanoko
established Business Ethics and Code of Conduct, as well as other relevant rules and provisions as the primary foundation
for strengthening governance with integrity and sustainability. The Good Corporate Governance Committee plays a vital role
in supporting the Board of Commissioners in performing its oversight function, particularly in ensuring that ethical values,
Chairman of the Good Corporate Governance Committee integrity, and compliance with the Code of Conduct are consistently upheld across all operational aspects. Further information
on the duties and responsibilities of the Good Corporate Governance Committee, based on the Business Ethics and Code of
Term of Office and Basis of Appointment Conduct and other relevant regulations, is described below:
1. Conducting socialization activities to enforce Avian Brands’ Business Ethics and Code of Conduct to all Avian Brands’
2023 – 2026: Personnel as a form of prevention of violations of Avian Brands’ Business Ethics and Code of Conduct;
Minutes of Meeting of the Board of Commissioners of Avian Brands No. 004/AA/BAR/KOM/VIII/2023 2. Receiving questions that arise from Avian Brands’ Personnel regarding the contents of Avian Brands’ Business Ethics and
dated August 16, 2023. Code of Conduct;
3. Receiving reports of any complaints against violations of Avian Brands’ Business Ethics and Code of Conduct by Avian
Brands’ Personnel;
The complete profile of the Chairman of the Good Corporate Governance Committee can be found in the Profile of
4. Following up on any reports of violations of Avian Brands’ Business Ethics and Code of Conduct;
the Board of Directors section of this Annual Report.
5. Providing recommendations on resolutions of violations of Avian Brands’ Business Ethics and Code of Conduct to the Board
of Directors, including sanctions that will be imposed; and
6. Supervising the implementation of Environmental, Social, and Governance (“ESG”) aspects in Avian Brands’ operations,
including ensuring compliance with sustainability principles, supporting social and environmental initiatives, and
promoting good governance to increase value for stakeholders.
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Governance
PT Avia Avian Tbk
Committees Under the Board of Directors
Statement of Independence of the Good Corporate Governance Committee
The Good Corporate Governance Committee performs its duties by upholding the principles of independence, professionalism,
and compliance with regulations and GCG principles. Led by the Director of Operations, with permanent members consisting
of the Director of Finance and the Deputy Director of Operations, and supported by ad hoc members from various work units,
the Good Corporate Governance Committee strengthens its representation and enables more comprehensive and responsive The Board of Directors has 1 supporting committee to assist in the implementation of Avian Brands’ management duties,
decision-making regarding organizational dynamics. With this structure, the Good Corporate Governance Committee ensures namely the Related Party Transaction Committee.
that every assessment and recommendation is free from conflicts of interest and based on objective considerations to support
Avian Brands’ long-term goals with integrity and sustainability.
The Related Party Transaction Committee
The Good Corporate Governance Committee Meeting
The Related Party Transaction Committee is a supporting committee to the Board of Directors that ensures all Avian Brands’
Meeting Policy affiliated transactions are conducted on an arm’s length basis, equitably, and in accordance with applicable regulations. In its
The meeting policy of the Good Corporate Governance Committee is implemented periodically as needed, taking into account the duties, the Related Party Transaction Committee assesses the feasibility and compliance of each transaction and ensures there
urgency and complexity of issues related to compliance with the Business Ethics and Code of Conduct, as well as the implementation are no conflicts of interest that could be detrimental to Avian Brands or its stakeholders. Through independent oversight, the
of ESG principles within Avian Brands. The meeting agenda includes strategic discussions, including the evaluation of grievance Related Party Transaction Committee maintains the integrity of business processes and supports the creation of ethical and
reports, follow-up on potential ethical violations, and the development of ESG indicators on a quarterly basis. sustainable business practices.
Meeting Convention The Related Party Transaction Committee Charter
Throughout 2025, the Good Corporate Governance Committee convened 4 meetings. Information on the number of meetings The Related Party Transaction Committee performs its duties and responsibilities guided by OJK Regulation
and attendance rate of the Good Corporate Governance Committee is outlined as follows: No. 42/POJK.04/2020 concerning Affiliated Transactions and Conflict of Interest Transactions, as well as the Avian Brands
Affiliated Transactions Guidelines established on November 16, 2022. Based on these foundations, the Related Party Transaction
Committee is committed to ensuring that all transactions are conducted fairly, transparently, and free from conflicts of interest
Number of Total to maintain the integrity and accountability of Avian Brands.
Name Position Attendance (%)
Meetings Attendance
Robert Christian Tanoko Chairman of the Good Corporate Governance Committee 4 4 100.00
Composition of the Related Party Transaction Committee
The composition of Avian Brands’ Related Party Transaction Committee consists of 3 members, namely 1 Chairperson and 2
Kurnia Hadi Sinanto Member of the Good Corporate Governance Committee 4 4 100.00 Members, as stipulated in Avian Brands’ internal provisions. All members are appointed and dismissed by the Board of Directors
Iwan Sigit Member of the Good Corporate Governance Committee 4 4 100.00 through an official resolution, considering strategic needs and the effectiveness of affiliated transaction oversight.
Competence Development of the Good Corporate Governance Committee The Board of Directors ensures that each member possesses adequate competence, integrity, and professionalism to perform
Avian Brands actively encourages the enhancement of capacity and competence for all members of the Good Corporate their duties objectively and accountably in accordance with GCG principles. Throughout 2025, there were no changes to
Governance Committee through continuous training and development programs. Each year, members participate in various the composition of the Related Party Transaction Committee, which continued to consist of 3 members performing their
capacity-building activities designed to broaden their horizons, deepen their understanding of GCG pillars, and adapt to duties collaboratively. Information regarding the composition of Avian Brands’ Related Party Transaction Committee as of
regulatory dynamics and global sustainability trends. These programs cover not only technical aspects but also emphasize December 31, 2025, is detailed as follows:
the importance of integrity, accountability, and sensitivity toward ethical and compliance issues. Information related to
competence development programs attended by Good Corporate Governance Committee members throughout 2025 has Name Position
been disclosed in the profile section of each Good Corporate Governance Committee member.
Kurnia Hadi Sinanto Chairman of the Related Party Transaction Committee
Performance of Duties of the Good Corporate Governance Committee Wardiman Member of the Related Party Transaction Committee
The performance of the Good Corporate Governance Committee’s duties is carried out by prioritizing the principles of Kristanto Nagatan*) Member of the Related Party Transaction Committee
prudence, objectivity, and integrity in every corporate governance oversight and evaluation process. The Good Corporate *)
Served as Member of the Related Party Transaction Committee since August 12, 2025 replacing Mr. Bobby Septian Yahya.
Governance Committee actively ensures that all of Avian Brands’ operational activities comply with the values of the Business
Ethics and Code of Conduct, as well as the sustainability principles adopted by Avian Brands. Further information regarding the
implementation of the Good Corporate Governance Committee’s duties carried out throughout 2025, is described as follows:
Profile of the Related Party Transaction Committee
The profile of each member of the Related Party Transaction Committee is described as follows:
1. Ensured that every report of a violation against the Business Ethics and Code of Conduct was followed up through
a thorough and fact-based investigation process, while simultaneously ensuring full protection of the whistleblower’s
identity confidentiality to avoid the risk of retaliation or privacy violations; Kurnia Hadi
Sinanto
2. Conducted discussions regarding:
a. the summary of ESG data of Avian Brands and its Subsidiaries;
b. the follow-up results of violation reports concerning the Business Ethics and Code of Conduct, as well as the Good
Corporate Governance Guidelines based on the Whistleblowing System of Avian Brands and its Subsidiaries; Chairman of the Related Party Transaction Committee
for the periods of December 31, 2024, March 31, 2025, June 30, 2025, and September 30, 2025, as part of the commitment
to conducting responsible and sustainable business; and
3. Conducted discussions on the awards received by Avian Brands, namely the 2024 Market Leader in the Indonesian Paint &
Term of Office and Basis of Appointment
Coating Industry award from Frost & Sullivan, the 2025 Katadata ESG Awards for the Chemicals Sector in the Governance 2025 – 2028:
Category from Katadata, the 2025 ENSIA in the Environmental Innovation Category for the Emission Reduction Program
The Board of Directors Decree of Avian Brands No. 010/AA/SK/DIR/VIII/2025 dated August 12, 2025
from Sucofindo, Top 50 Big Capitalization Public Listed Company and Best Sustainability and Resilience (Big Cap) from the
Indonesian Institute for Corporate Directorship (“IICD”).
All of these activities reflect the strategic role of the GCG Committee in strengthening the culture of integrity, enhancing The complete profile of the Chairman of the Related Party Transaction Committee can be found in the Profile of
transparency, and encouraging the implementation of measurable sustainability principles within Avian Brands. the Board of Directors section of this Annual Report.
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Wardiman Duties and Responsibilities of the Related Party Transaction Committee
The duties and responsibilities of the Related Party Transaction Committee are performed based on the Affiliated Transactions
Guidelines and prevailing provisions, emphasizing the importance of implementing the principles of fairness, compliance, and
accountability in every transaction process. The Related Party Transaction Committee is responsible for conducting a thorough
review of every affiliated transaction carried out by Avian Brands to ensure that all such activities are conducted in accordance
Member of the Related Party Transaction Committee with laws and regulations, meet fair business practice standards, and do not create conflicts of interest. Further information on
the duties and responsibilities of the Related Party Transaction Committee, is described below:
Term of Office and Basis of Appointment 1. Providing recommendations to the Board of Directors regarding affiliated transactions conducted by Avian Brands, such
that they are in accordance with the generally accepted business practices, applicable laws and regulations, and meet the
2025 – 2028: principles of fair transactions;
The Board of Directors Decree of Avian Brands No. 010/AA/SK/DIR/VIII/2025 dated August 12, 2025. 2. Assisting the Board of Directors to ensure that transactions conducted with related parties are not detrimental to the
interests of Avian Brands and Avian Brands’ Independent Shareholders;
3. Cooperating with the Corporate Secretary, Finance Team, and Legal Team of Avian Brands in discussing and deliberating
The complete profile of the Member of the Related Party Transaction Committee can be found in the Profile of affiliated transaction plans to be undertaken by Avian Brands; and
the Audit Committee section of this Annual Report. 4. Conducting special inspections related to affiliated transactions, if necessary.
Independence Statement of the Related Party Transaction Committee
The Related Party Transaction Committee consistently upholds the principle of independence in carrying out its duties and
Kristanto
responsibilities. Its composition consists of independent individuals with no affiliation with related parties, ensuring that
every evaluation and recommendation is conducted objectively and remains free from conflicts of interest. The Related
Party Transaction Committee also maintains the integrity of the assessment process through a transparent and accountable
Nagatan*) approach, ensuring all transactions meet the principles of fairness and compliance with applicable regulations. Accordingly,
the Related Party Transaction Committee plays a strategic role in strengthening GCG and stakeholder trust in the integrity of
Avian Brands’ business processes.
Member of the Related Party Transaction Committee
The Related Party Transaction Committee Meeting
Meeting Policy
The policy for conducting Related Party Transaction Committee meetings is implemented periodically with a minimum
Indonesian, 30 years old. frequency of once every 4 months. A meeting is declared valid if it is attended by the majority of the Related Party Transaction
Committee members, thereby ensuring adequate representation in the discussion and decision-making processes.
Meeting Convention
Throughout 2025, the Related Party Transaction Committee convened 4 meetings. Information on the number of meetings
Term of Office and Basis of Appointment • Assistant Manager of Internal Audit of PT Elang and attendance rate of the Related Party Transaction Committee is outlined as follows:
Mahkota Teknologi Tbk (2023 – 2025).
2025 – 2028:
Dual Appointments Number of Total
The Board Directors Decree of Avian Brands Name Position Attendance (%)
Meetings Attendance
No. 010/AA/SK/DIR/VIII/2025 dated August 12, 2025.
Head of Internal Audit Unit of Avian Brands
Chairman of the Related Party
(2025 - present). Kurnia Hadi Sinanto 4 4 100.00
Educational Background Transaction Committee
Member of the Related Party
Bachelor of Accounting from Sekolah Tinggi Ilmu Education/Training in 2025 Wardiman
Transaction Committee
4 4 100.00
Ekonomi (STIE) Kesatuan, Bogor in 2017.
This information is presented in the Competence Member of the Related Party
Kristanto Nagatan*) 4 2 50.00
Development of the Internal Audit Unit section of Transaction Committee
Certifications
this Annual Report. *)
Served as Member of the Related Party Transaction Committee since August 12, 2025 replacing Mr. Bobby Septian Yahya.
• Audit Report Writing Effectively; and
• Tools for Audit Managers. Affiliation Competence Development of the Related Party Transaction Committee
Avian Brands continuously encourages the capacity development of the Related Party Transaction Committee members
Work Experiences Is not an affiliate of members of the Board of
through ongoing competence enhancement programs. Each member of the Related Party Transaction Committee is facilitated
Commissioners, members of the Board of Directors,
to participate in various training and capability development sessions, both internal and external, designed to strengthen
• Internal Audit Staff of PT Enseval Putera as well as the Main and Controlling Shareholders.
their understanding of regulations, affiliated transaction standards, and GCG pillars. Information related to competence
Megatrading Tbk (2017 – 2019);
development programs attended by Related Party Transaction Committee members throughout 2025 has been disclosed in
• Section Head of Fraud Investigation Audit of
the profile section of each Related Party Transaction Committee member.
PT Sayap Mas Utama (Wings Group Indonesia)
(2019 – 2023); and
*)
Served as Member of the Related Party Transaction Committee since August 12, 2025 replacing Mr. Bobby Septian Yahya.
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Performance of Duties and Responsibilities of the Related Party Transaction Committee Party Appointing and Dismissing the Corporate Secretary
The performance of the Related Party Transaction Committee’s duties is conducted by prioritizing the principles of fairness,
accountability, and compliance with prevailing regulations. The Related Party Transaction Committee actively carries out its The Corporate Secretary is a strategic position directly under the responsibility of the Board of Directors and is appointed
function in evaluating and providing recommendations for every proposed affiliated transaction, ensuring that all processes through an official resolution of the Board of Directors. Every decision regarding the appointment, replacement, or dismissal
are executed transparently and remain free from conflicts of interest. Further information regarding the implementation of of the Corporate Secretary must be reported to the OJK as part of the compliance with applicable capital market regulations.
the Related Party Transaction Committee’s duties carried out throughout 2025, is described as follows: This provision is designed to ensure that the entire appointment process is conducted transparently and accountably, while
1. Periodically discussing, on a quarterly basis, related party transactions, among others: considering the integrity, competence, and professional eligibility of the individual entrusted to perform the Corporate
a. Purchase of PVC pipe products by PT Tirtakencana Tatawarna (distributor) from PT Avia Avian Industri Pipa Secretary function optimally. Accordingly, this mechanism not only supports compliance with regulatory provisions but also
(manufacturer); strengthens the overall credibility of corporate governance.
b. Purchase of plastic packaging goods for finished goods products by Avian Brands from PT Mitra Mulia Makmur;
c. Purchase of ancillary building material products by PT Tirtakencana Tatawarna (distributor) from PT Kencana Lintasindo Profile of the Corporate Secretary
Internasional (manufacturer);
d. Leasing of warehouse/depot for distribution activities by PT Tirtakencana Tatawarna from PT Sarana Depo Kencana;
and
e. Purchase of calcium carbonate by Avian Brands from PT Panca Kalsiumindo Perkasa.
2. Discussed proposed affiliated transactions to be conducted by Avian Brands and/or its Subsidiaries with affiliated parties
that are required to be reported to the OJK, including the purchase of assets, land and building leases, storage fee Hera Septi
agreements, AI Logistic Management System service cooperation agreements, and production service agreements.
Astuti
Corporate Secretary
The Corporate Secretary
Indonesian, 40 years old.
The Corporate Secretary is an organ of Avian Brands that plays a role in supporting the effectiveness of the Board of Directors’
duties, particularly in communication and regulatory compliance. This role includes managing harmonious relationships
between Avian Brands’ organs and building constructive communication between Avian Brands and Shareholders, regulators,
capital market authorities, and other stakeholders. Furthermore, the Corporate Secretary is responsible for ensuring Avian Basis of Appointment Work Experiences
Brands’ compliance with applicable laws and regulations in the capital market sector, as well as providing access to relevant
and timely information for the public. Through the performance of these duties, the Corporate Secretary plays a strategic role The Board of Directors Decree of Avian Brands • Legal Staff of Notary Office of Dr. Misahardi
in ensuring that Avian Brands’ principles of transparency, accountability, and integrity are consistently maintained. No. 012/AA/SK/DIR/VIII/2022 dated August 31, 2022. Wilamarta, S.H., M.Kn. (2008 – 2010);
• Senior Legal of PT Profesional Telekomunikasi
Educational Background Indonesia (2010 – 2017);
The Corporate Secretary Charter • Bachelor of Law from Atma Jaya University, Jakarta
• Corporate Secretary Manager of PT Graha Layar
Prima Tbk (2018 – 2020); and
in 2007; and
Avian Brands has established the Corporate Secretary Charter as a work guideline that comprehensively regulates • Corporate Secretary Manager of Avian Brands
• Master of Notarial from Pelita Harapan University,
the functions and responsibilities of the Corporate Secretary in supporting the implementation of GCG. The Charter was ratified (2021 – 2022).
Jakarta in 2019.
on August 16, 2021, and was prepared to ensure that all duties performed by the Corporate Secretary are carried out efficiently,
transparently, accountably, and independently, in line with the prevailing laws and regulations in the capital market sector. Dual Appointments
Certification
This Charter serves as an essential foundation in strengthening the integrity of the Corporate Secretary’s function, as well as
-
ensuring that its strategic role in managing corporate communications and regulatory compliance is performed optimally. • The Advocate Professional Exam (“UPA”) -
The Indonesian Advocates Association (“PERADI”);
and
• Basic 1 Course of Capital Market Legal Consultant
Professional Education - Capital Market Legal
Consultant Association (“HKHPM”) and FHP
Education of Law (“FHP”).
170 2025 Annual Report 2025 Annual Report 171
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Date Description Organizer
Duties and Responsibilities of the Corporate Secretary
Halal Bihalal and Sharing Session Form E020: ESG Strategy and GHG Emissions for Listed
March 16, 2025 AEI
The duties and responsibilities of the Corporate Secretary are performed based on the provisions in the Corporate Secretary Company Executives.
Charter, which establishes the role of the Corporate Secretary as an effective liaison between the Board of Directors, the April 22, 2025 Regulation I-E concerning the Obligation of Information Disclosure by Listed Companies. ICSA
Board of Commissioners, and external stakeholders, including regulators and the public. In its implementation, the Corporate Webinar: "Communication Evaluation: Measuring the Impact of Communications to
April 24, 2025 ICSA
Secretary is responsible for maintaining smooth communication between Avian Brands’ organs, ensuring compliance with Stakeholders."
capital market regulations, and providing accurate, relevant, and publicly accessible information. Further information on the Webinar: "Company Readiness in Facing Global Market Volatility: Investor Relations and
May 20, 2025 ICSA
duties and responsibilities of the Corporate Secretary is described as follows: Corporate Secretary Perspectives."
1. Keeping abreast of capital market developments, in particular the prevailing laws and regulations in the capital market May 20, 2025 Webinar: Sustainable Landscape of Indonesia's Capital Market. BEI
sector; Socialization of IDX Regulation No. II-Q concerning Liquidity Provider Activities on the
2. Providing input to the Board of Commissioners and the Board of Directors concerning compliance with the laws and May 27, 2025 Exchange, and Exchange Regulation No. III-Q concerning Liquidity Providers on the BEI
Exchange.
regulations in the capital market sector;
3. Disclosing information to the public, including the availability of information on Avian Brands’ website; IDX-S&P Global Webinar: “Value and Benefits of 2025 S&P Global Corporate Sustainability
May 28, 2025 BEI
Assessment (“CSA”)”.
4. Submitting reports to the Financial Services Authority in a timely manner;
5. Convening and documenting GMS and meetings of the Board of Commissioners and/or the Board of Directors; June 17, 2025 Capital Market Dialogue Seminar: "Seizing Opportunities Amid Global Policy Shifts." AEI
6. Conducting orientation programs for the Board of Commissioners and/or the Board of Directors; In-depth Review of POJK No. 14/POJK.04/2019 concerning Increase in Capital of Public
June 17, 2025 ICSA
Companies through Rights Issue.
7. Coordinating preparation and submission processes of the Annual Report and Sustainability Report;
8. Acting as the liaison between Avian Brands and the Shareholders, the Financial Services Authority, and other stakeholders; Socialization of POJK No. 9 of 2025 concerning the Dematerialization of Equity Securities
June 19, 2025 OJK
and the Management of Unclaimed Assets in the Capital Market.
9. Representing Avian Brands in correspondence with capital market authorities in accordance with the authority granted by
Avian Brands; and 2025 Issuer Seminar: “Navigating Global Dynamics: The Resilience of Indonesia's
July 8, 2025 KSEI
Economic and Financial System.”
10. Submitting periodic reports, no fewer than once a year, regarding the implementation of the Corporate Secretary functions
July 22, 2025 Webinar: "Embracing Diversity, Equality, and Inclusion in the Workplace." ICSA
to the Board of Directors, copied to the Board of Commissioners.
In-depth Webinar on 4 of 2024 concerning Reports on Ownership of, or Any Change of
July 29, 2025 Ownership of, Shares in Public Companies and Reports on the Activities of Encumbering ICSA
Public Company Shares
The Corporate Secretary Competence Development Webinar: Implementation and Understanding of POJK No. 14 of 2025 concerning e-GMS,
July 31, 2025 AEI
e-OM, and e-SUGMS.
Avian Brands consistently supports the competence development of the Corporate Secretary through active participation ICSA Webinar: Finance for Non-Finance – Understanding Numbers for Effective
in various training and capacity-building programs. These development activities are conducted on an ongoing basis each August 5, 2025 ICSA
Communication.
year as part of the commitment to ensuring that the Corporate Secretary possesses up-to-date knowledge and a profound August 19, 2025 Risk & Governance Summit 2025. OJK
understanding of business dynamics and applicable regulations. Through involvement in these programs, the Corporate
August 29, 2025 Socialization of SEOJK No. 10/SEOJK.04/2025. OJK
Secretary is expected to perform duties and responsibilities more effectively and adaptively, while continuously maintaining
August 29, 2025 ICSA Webinar: “A Risk-Based Approach to ESG: Building Resilient, Responsible Businesses.” ICSA
professional standards to support the transparent, accountable, and integrity-driven management of Avian Brands. Information
related to competence development programs attended by the Corporate Secretary throughout 2025 is described as follows: In-depth Webinar on POJK No. 17 of 2020 concerning Material Transactions and Changes
September 1, 2025 ICSA
in Business Activities.
Webinar: e-GMS & eASY.KSEI – Modern Solutions for General Meeting of Shareholders
September 9, 2025 ICSA
Date Description Organizer Governance.
Indonesia Central September 19, Webinar: “Tax for Non-Tax: The Role of the Corporate Secretary in Issuer Tax Obligations,
ICSA
January 6, 2025 Socialization for Securities Issuers on the Use of eASY and Issuer-related Facilities at KSEI. Securities Depository 2025 M&A, and Share Transactions.”
(“KSEI”) September 23, Exploring E-GMS Webinar: Practical Alternatives of Share Registrar (BAE) Systems for Ease
AEI
Indonesia Corporate 2025 and Transparency for Issuers.
In-depth Review of OJK Regulation (POJK) No. 29/POJK.04/2016 and POJK
January 22, 2025 Secretary Association October 3, 2025 Webinar IDX Green Equity Designation Initiative. AEI
No. 51/POJK.03/2017.
(“ICSA”)
Strategic Move Panel Discussion: M&A & Business Competition in the Indonesian Capital
Indonesia Stock October 8, 2025 AEI
January 22, 2025 ESG Reporting Socialization Webinar. Market Landscape.
Exchange (“IDX”)
Webinar: "Integrating Cybersecurity into Good Corporate Governance (GCG): The Crucial
Indonesian Public October 29, 2025 ICSA
Role of the Corporate Secretary”.
Listed Companies
Refresher Webinar on POJK No. 15/POJK.04/2022 and POJK No. 29 of 2023 for Issuers and November 7, 2025 Webinar: "From Compliance to Confidence: Redefining ACGS through ESG and Digital". ICSA
January 23, 2025 Association (“AEI”)
Public Companies.
and Financial Services November 13, 2025 Webinar "IFRS 1 & 2 Update and Practical Insights for Public Companies". ICSA
Authority (“OJK”)
Webinar: "Media Handling 4.0: The Role of the Corporate Secretary in the AI Era and Digital
Socialization of POJK No. 45 of 2024 concerning the Development and Strengthening of November 20, 2025 ICSA
February 6, 2025 OJK Reputation."
Issuers and Public Companies.
In-depth Review of POJK No. 42 of 2020 concerning Affiliated Transactions and Conflict
In-depth Review of 14/POJK.04/2022 concerning Submission of Periodic Financial December 2, 2025 ICSA
February 18, 2025 ICSA of Interest Transactions.
Reports of Issuers or Public Companies.
In-depth Review of Regulation No. I-A concerning the Listing of Shares and Equity-Type
ESG Disclosure: The Role of the Corporate Secretary in Submitting ESG Metrics through December 9, 2025 ICSA
February 24, 2025 ICSA Securities Other Than Shares Issued by Listed Companies
SPE-IDXnet.
March 18, 2025 Navigating ESG Challenges through Strengthening Good Corporate Governance Policies. ICSA
In-depth Review of Regulations on the Use of Public Accountant and/or Public
March 19, 2025 Accounting Firm Services in Financial Services Activities (POJK No. 9 of 2023 and SEOJK ICSA
No. 18/SEOJK.03/2023).
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Performance of Duties of the Corporate Secretary Performance of the Investor Relations Function’s Duties
The performance of the Corporate Secretary’s duties is carried out actively, effectively, and with utmost responsibility to support Throughout 2025, the investor relations function carried out its role in maintaining consistent communication with investors,
the creation of transparent communication and harmonious relationships between Avian Brands and all stakeholders. All prospective investors, analysts, and the financial and capital market communities. The primary objective was to ensure all
activities are conducted by upholding the principles of transparency, accountability, and integrity to strengthen public trust and parties obtained an accurate view of Avian Brands’ financial performance, business strategies, developments in the paint and
encourage the comprehensive implementation of GCG within Avian Brands. Further information regarding the implementation building materials industry, and overall prospects. All activities were conducted while upholding the principles of internal
of the Corporate Secretary’s duties carried out throughout 2025 is described below: information confidentiality and equitable treatment for all investors.
1. Managed and facilitated the convening of meetings for 4. Maintained active communication with regulators and
the Board of Commissioners, the Board of Directors, and capital market supporting institutions, including the Throughout the year, the investor relations function organized quarterly earnings calls and public exposes in accordance with
various Committees, including the Audit Committee, the Financial Services Authority (OJK) and the Indonesia applicable regulations as a means of providing updates on Avian Brands’ performance. Furthermore, the investor relations
Nomination and Remuneration Committee, the Good Stock Exchange (IDX); function actively participated in various capital market conferences, including non-deal roadshows and meetings facilitated
Corporate Governance Committee, and the Related 5. Executed external communication activities to maintain by securities firms, which brought together Avian Brands with both domestic and international investors and prospective
Party Transaction Committee, while accurately and information disclosure, including the publication of 18 investors. The investor relations function also facilitated company visits and thematic discussions with analysts and investors
orderly preparing the minutes of meetings; press releases to the public; to strengthen market understanding of Avian Brands’ strategy and operational capabilities.
2. Monitored capital market regulatory developments 6. Periodically updated information on the Investor
and ensured Avian Brands’ compliance, including Relations page of Avian Brands’ official website; and Communication with investors was conducted in face-to-face, hybrid, and online formats to enhance flexibility and broaden
through the publication of 12 monthly share ownership 7. Formulated the Corporate Secretary’s annual work plan audience reach. Avian Brands also provides extensive communication facilities through its official website and digital channels,
reports, 4 Financial Statements, 1 Annual Report, and 1 to support Avian Brands’ future strategic agendas and where investors can obtain Financial Statements, presentation materials, corporate publications, and other information related
Sustainability Report; priorities. to capital market activities. The strengthening of these information channels is intended to ensure transparency and ease of
3. Enhanced professional capacity by participating in access for all stakeholders.
various relevant training programs to support the
effective execution of duties; Throughout 2025, the investor relations function carried out 25 public information disclosures, with the details as follows:
Description Frequency Year 2025
Online Meeting with Analysts 2
The Investor Relations Offline Meeting with Analysts
Earnings Call
7
7
Public Expose 9
Avian Brands operates its investor relations function proactively to ensure information disclosure and maintain market
Investor Visit 0
confidence in its performance and governance. Through structured communication management, Avian Brands provides
accurate, relevant, and timely information to Shareholders, analysts, and the public. This function is realized through various
More detailed information regarding each of Avian Brands’ investor relations activities can be accessed on the website at
activities, such as public exposes and earnings calls. All presentation materials and the latest information are published via
the following link: https://avianbrands.com/hubungan-investor/pusat-informasi-investor/aktivitas-hubungan-investor.
the website, ensuring that all stakeholders can access data easily and transparently.
Duties and Responsibilities of the Investor Relations Function
The officers executing the investor relations function are tasked with and responsible for ensuring that all information regarding
The Internal Audit Unit
Avian Brands’ performance, business prospects, and corporate actions is well-communicated. Detailed information regarding
the duties and responsibilities of the investor relations function is outlined as follows:
1. Maintaining periodic communication regarding performance developments, business strategies, and Avian Brands’
prospects to all capital market stakeholders, including institutional investors, retail investors, research analysts, and fund
managers, as well as providing updates on relevant Avian Brands activities accurately, timely, and in accordance with The Internal Audit Unit is an organ of Avian Brands that plays a role in supporting the Board of Directors in performing
applicable regulations; the oversight and evaluation functions of the internal control system. In performing its functions, the Internal Audit Unit provides
2. Organizing meetings with analysts, investors, and other external parties to provide a comprehensive understanding of independent, objective, and constructive assurance and consulting services to add value and improve the effectiveness and
Avian Brands’ performance and the industry dynamics affecting the company’s business; efficiency of Avian Brands’ operations. Through a systematic and risk-based approach, the Internal Audit Unit consistently
3. Participating in roadshows, capital market conferences, analyst meetings, and company visits to expand Avian Brands’ evaluates the adequacy and effectiveness of the risk management system, internal controls, and the implementation of GCG
communication reach with both domestic and international investors, including conducting group meetings and pillars.
discussions via online conferences;
4. Managing information updates on the official website and all communication materials for investor interests, including All audit activities are conducted thoroughly and measurably to ensure that all operational activities are in line with internal
performance presentations, investor decks, and other publications; and policies, operational standards, and applicable legal provisions. Accordingly, the Internal Audit Unit contributes strategically to
5. Conducting periodic monitoring and reviews of trends in the paint and building materials industry, competitor conditions, strengthening transparency, accountability, and the sustainable achievement of Avian Brands’ long-term objectives.
stock performance, and capital market sentiment as input and recommendations for the Board of Directors, the Board of
Commissioners, and other internal stakeholders.
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The Internal Audit Unit Charter As of 2025, Avian Brands’ Internal Audit Unit consists of 8 personnel, comprising 1 Head of the Internal Audit Unit and
7 members. This composition reflects Avian Brands’ efforts in building a solid, professional internal audit team with adequate
Avian Brands has established an Internal Audit Charter, which was enacted on August 16, 2021 (the “Internal Audit Charter”). capacity to perform comprehensive oversight duties across all operational units.
This Charter was prepared to ensure that all duties performed by the Internal Audit Unit are conducted systematically,
objectively, and professionally, in accordance with GCG pillars and prevailing laws and regulations.
Duties and Responsibilities of the Internal Audit Unit
Party Appointing and Dismissing the Internal Audit Unit As an integral part of Avian Brands’ internal oversight mechanism, the Internal Audit Unit holds a strategic role in supporting
the effectiveness of governance and the overall achievement of Avian Brands’ objectives. In its execution, the Internal Audit
The leadership of the Internal Audit Unit is under the responsibility of the Head of the Internal Audit Unit, who is appointed by Unit is tasked with ensuring that the internal control system is implemented optimally to detect risks, ensure compliance
the President Director with the approval of the Board of Commissioners, as stipulated in the Internal Audit Charter. The process with applicable regulations, and maintain operational efficiency. Further information on the duties and responsibilities of
of appointment, replacement, or dismissal of the Head of the Internal Audit Unit must be reported to the OJK as a form of the Internal Audit Unit is described as follows:
compliance with the prevailing regulations in the capital market sector. This provision is designed to ensure that the process of 1. Formulating and implementing an annual internal audit plan;
appointing the Internal Audit Unit leadership is based on the principles of transparency and accountability, and reflects Avian 2. Testing and evaluating the implementation of internal control and risk management systems in accordance with Avian
Brands’ commitment to maintaining the independence of the internal oversight function. Accordingly, this mechanism also Brands’ policies;
strengthens stakeholder confidence in the effectiveness of internal control and the overall governance of Avian Brands. 3. Conducting inspections and assessments of the efficiency and effectiveness in finance, accounting, operations, human
resources, marketing, information technology, and other activities;
4. Providing suggestions on improvements and objective information relating to audited activities to all managerial levels;
Profile of Head of the Internal Audit Unit 5. Compiling reports on audit results and submitting them to the President Director and the Board of Commissioners;
6. Monitoring, analyzing, and reporting the implementation of the suggested follow-up improvements;
Kristanto
7. Cooperating with the Audit Committee;
8. Developing programs to evaluate the quality of the audit activities it performs; and
Nagatan*)
9. Conducting special inspections, if necessary.
Head of the Internal Audit Unit Certificates of Expertise of the Internal Audit Unit
Term of Office and Basis of Appointment Professional certifications held by the members of the Internal Audit Unit serve as an essential foundation for ensuring
the quality, accountability, and credibility of the audit function within Avian Brands. These certifications not only demonstrate
The President Director Decree of Avian Brands No. 009/AA/SK/DIR/VII/2025 dated August 12, 2025. mastery over principles of internal audit, risk management, and internal control but also reflect adherence to professionally
recognized standards and codes of ethics, both domestic and international. Through a rigorous certification process, each
internal auditor capable of performing duties objectively and independently, while providing relevant recommendations with
added value for internal control system improvement. Accordingly, the presence of certified auditors strengthens the role of
the Internal Audit Unit in creating a professional and reliable oversight environment, contributing to the achievement of Avian
The complete profile of the Head of the Internal Audit Unit can be found in the Profile of the Related Party Transaction Committee
section of this Annual Report. Brands’ strategic objectives. Information concerning certificates of expertise held by the Internal Audit Unit is described as
*)
Served as the Head of Internal Audit Unit since August 12, 2025, replacing Mr. Bobby Septian Yahya.
follows:
Number of
Structure and Position of the Internal Audit Unit Certifications
Employees
ISO 9001:2015 on Quality Management System 2 Employees
The Board of ISO 14001:2015 on Environmental Management System 2 Employees
President Director
Commissioners
ISO 45001:2018 on Occupational Health and Safety Management System 2 Employees
Internal Auditor of Integrated Management System 2 Employees
Risk Based Audit 1 Employee
The Audit Committee The Internal Audit Unit Audit Report Writing Effectively 1 Employee
Tools for Audit Managers 1 Employee
The Internal Audit Unit is structurally positioned directly under the President Director, who is responsible for the overall
oversight and receipt of the Internal Audit Unit’s duty execution reports. This structure is designed to ensure the independence
and effectiveness of the internal audit function, while ensuring that every audit finding, internal control system evaluation, and
improvement recommendation can be delivered directly to Avian Brands’ top leadership. Accordingly, Avian Brands ensures
that follow-ups on audit results can be responded to swiftly, accurately, and strategically to strengthen the implementation
of transparent and accountable GCG. This direct reporting structure also serves as a concrete manifestation of Avian Brands’
commitment to the integrity of internal oversight function and the implementation of an effective control system.
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The Internal Audit Unit Meeting 3. Conducting audit inspections on purchase and expense areas, which include:
a. Audit inspections on salary and overtime payments;
Meeting Policy b. Audit inspections on the purchasing process and suppliers;
The Internal Audit Unit has the authority to convene regular meetings, both internal, such as meetings with c. Audit inspections on projects and maintenance; and
the Board of Directors and the Audit Committee, as well as external, such as meetings with a public accounting firm. d. Audit inspections on promotion expenses.
These meetings aim to discuss and evaluate the findings of the General Audit, Compliance Audit, and Operational Improvement. 4. Conducting audit inspections on the Avian Brands’ Subsidiaries.
Through these meetings, the Internal Audit Unit can ensure that all aspects of the audit are closely scrutinized and ensure
effective follow-up on findings and recommendations. In addition to performing the above duties, the Internal Audit Unit also periodically submits audit reports to the Board of
Directors at the beginning of the following month.
Meeting Convention
Throughout 2025, the Internal Audit Unit convened 12 meetings with the members of the Board of Directors, 4 meetings with
the Audit Committee, and 2 meetings with the Public Accounting Firm.
The Internal Audit Unit Competence Development
Public Accountant
Avian Brands continuously encourages the strengthening of the Internal Audit Unit’s capacity and competence through
strategically designed sustainable development programs. Each year, members of the Internal Audit Unit participate in
various professional training and certification programs, conducted both internally and by credible external institutions. Avian Brands implements an independent external oversight function through the engagement of a Public Accounting Firm
These activities aim to update insights, deepen the understanding of the latest auditing practices, and ensure that analytical (Kantor Akuntan Publik/“KAP”) to audit its Financial Statements. This audit provides an objective assessment of the fairness of
and evaluative capabilities remain aligned with the dynamics of changing regulations and the business environment. the Financial Statements’ presentation and ensures their compliance with the Indonesian Financial Accounting Standards.
Through external auditing, Avian Brands strengthens the confidence of Shareholders, regulators, and stakeholders in its
Accordingly, the Internal Audit Unit is expected to perform its oversight and consultative functions optimally, while providing
financial transparency and accountability. The audit results also serve as a basis for management to improve financial processes
tangible contributions to maintaining the effectiveness of internal control and sound corporate governance. Information
and policies to enhance management effectiveness and maintain sound and integrity-driven financial performance.
related to competence development programs attended by the Internal Audit Unit throughout 2025 is described as follows:
Date Description Organizer Compliance with Indonesian Financial Accounting Standards
January 13, 2025 Tips On How To Make A Presentation Avian Brands
Compliance with Indonesian Financial Accounting Standards is Avian Brands’ principal commitment to preparing and
June 16, 2025 Ms. Office - Excel Advanced Level Elips Computer Academy presenting the Financial Statements. Avian Brands consistently ensures that all financial transactions are recorded and reported
August 21, 2025 CINTA (Customer Focus, Integrity, Teamwork, Agility) Tancorp in accordance with applicable Financial Accounting Standards in Indonesia as described as follows:
October 29 – 30, 2025 Basic Paint Avian Brands 1. The Financial Accounting Standards (“FAS”) stipulated by the Indonesian Institute of Accountants (Ikatan Akuntan Indonesia
or “IAI”); and
November 19, 2025 Managing Your Boss Tancorp
2. Decree of the Chairman of the Capital Market and Financial Institutions Supervisory Agency (Badan Pengawas Pasar Modal
December 2 – 5, 2025 Certified Internal Audit Officer PPM Lembaga Keuangan or “Bapepam-LK”) No. KEP-347/BL/2012 on the Guidelines for the Presentation and Disclosure of
Financial Statements of Issuers or Public Companies.
Performance of Duties of the Internal Audit Unit By complying with this standard, Avian Brands also strives to maintain public confidence and ensure the integrity of the
financial information presented.
The performance of the Internal Audit Unit’s duties is carried out using a structured and comprehensive approach as part of
Avian Brands’ commitment to strengthening the internal control system and improving operational effectiveness. Through a
systematic and risk-based evaluation process, the Internal Audit Unit provides constructive and independent recommendations External Audit Procedures and Auditing Standards
to Management to support informed decision-making, while ensuring all of Avian Brands’ business processes are conducted
in accordance with GCG pillars and compliance with prevailing laws and regulations. Further information regarding the The audit of Avian Brands’ Financial Statements is conducted by the Public Accounting Firm (KAP) in accordance with the
Indonesian Professional Standards of Public Accountants (Standar Profesional Akuntan Publik/“SPAP”). The audit process includes
implementation of the Internal Audit Unit’s duties carried out throughout 2025 is described as follows:
testing, verification, and evaluation of the fairness of the Financial Statements’ presentation to ensure compliance with the
1. Conducting audit inspections on finance and accounting areas, which include:
Financial Accounting Standards (SAK) established by the Indonesian Institute of Accountants (IAI). Through a comprehensive
a. Audit inspections on cash and banks;
audit, the KAP provides an independent opinion on the integrity of Avian Brands’ Financial Statements. During the audit process,
b. Audit inspections on receivables and sales;
the KAP communicates intensively with Management for clarifications and adjustments if any non-compliance or inadequate
c. Audit inspections on payables and purchases; and
disclosures are identified. Following review and approval, the final audit results are submitted to the relevant authorities.
d. Audit inspections on fixed assets; This process ensures accuracy, transparency, and compliance with financial reporting standards, while simultaneously
2. Conducting audit inspections on operational areas, which include: strengthening Avian Brands’ accountability and credibility.
a. Audit inspections on finished goods inventory and operational process taking place in the finished goods area;
b. Audit inspections on inventories in production areas and production processes (raw material consumption, output
finished goods, and Bill of Materials); Appointment Mechanism of Public Accountant
c. Audit inspections on raw material inventories and operational processes taking place in the raw material area; and
d. Audit inspections on waste and Hazardous Material items resulting from production. The mechanism for the appointment of the KAP by Avian Brands is conducted in a transparent and accountable manner in
accordance with OJK Regulation No. 9 of 2023 concerning the Use of Public Accountants and Public Accounting Firms in
Financial Services Activities. The process begins with an evaluation of external audit needs
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The Internal Control System
by the Audit Committee, including the selection of an independent KAP with integrity, track record, and competence that are
aligned with Avian Brands’ audit requirements. Following the evaluation, the Audit Committee recommends the candidate KAP
to the Board of Commissioners for review and approval, which is then proposed through the GMS or based on the delegation
of authority from the GMS to the Board of Commissioners.
The Internal Control System (“ICS”) is a vital element of corporate governance designed to support the achievement of
In the process of appointing the KAP for the 2025 financial year, the Audit Committee submitted an official recommendation
Avian Brands’ operational objectives effectively, efficiently, and sustainably. The ICS functions as an integrated framework
through the Avian Brands Audit Committee Recommendation Letter No. 005/AA/SK/KA/IX/2025 dated September 11, 2025.
encompassing a series of policies, procedures, and oversight practices implemented across all organizational levels,
This recommendation was subsequently approved by the Board of Commissioners as stated in the Minutes of the Board of
from Top Management to all operational lines. This system plays a role in providing reasonable assurance regarding the
Commissioners Meeting No. 006/AA/BAR/KOM/IX/2025 dated September 15, 2025.
achievement of Avian Brands’ strategic goals, maintaining compliance with both internal and external provisions, and ensuring
Upon obtaining such approval, Avian Brands is to appoint the selected KAP through a formal resolution. The appointment of that every business activity operates in accordance with established risk management principles and control standards.
a Public Accountant and Public Accounting Firm is then reported to the OJK by attaching: Accordingly, the ICS is not only a risk mitigation tool but also an essential instrument in maintaining the integrity, efficiency,
1. The appointment document and the recommendation of the Audit Committee; and accountability of Avian Brands’ overall business processes.
2. The self-assessment result received from the KAP; and
3. Employment agreement documents with the Public Accountant and Public Accounting Firm. The ICS includes various aspects as described below:
1. Operational Control to ensure the effectiveness and efficiency of Avian Brands’ operational activities. This control includes
The appointed KAP is responsible for conducting an external audit of Avian Brands’ Financial Statements in accordance with protecting Avian Brands’ assets from risk of loss or misappropriation, and optimizing the use of resources to achieve optimal
the professional standards of public accountants and prevailing laws and regulations. This process ensures an objective and results.
transparent appointment of the Public Accountant to maintain the integrity and credibility of Avian Brands’ external audit. 2. Reporting Control to ensure the accuracy and integrity of the Financial Statements, Annual Report, and Sustainability
Report presented. This control aims to ensure that the resulting data, both financial and non-financial, are reliable and
reflect the actual condition and performance of Avian Brands, both for internal and external purposes.
2025 Public Accountant 3. Compliance Control to provide assurance on Avian Brands’ compliance with all applicable laws and regulations.
This control includes compliance with laws, regulations, and established internal policies to maintain Avian Brands’ ethical
The appointment of the Public Accountant and/or the KAP tasked with auditing Avian Brands’ Consolidated Financial and legal standards.
Statements for the financial year ended December 31, 2025, was conducted based on the resolution of the Annual GMS held
on April 10, 2025. Therein, the GMS authorized the Board of Commissioners to appoint a Public Accountant and/or a KAP The ICS serves not only as a tool for oversight and control but also as a critical foundation in building a conducive environment
Registered in Indonesia deemed to possess the necessary competence, independence, and a strong professional track record. to achieve Avian Brands’ vision and strategic objectives. Through the implementation of an effective and integrated ICS, Avian
Brands is able to proactively manage and mitigate operational risks; enhance the reliability of the preparation and presentation
In connection therewith, the Board of Commissioners has appointed KAP Teramihardja, Pradhono & Chandra (a member
of the Financial Statements, Annual Report, and Sustainability Report; and ensure compliance with applicable laws and
firm of Crowe Global) as the external auditor for the 2025 financial year. The selection of this KAP was conducted through an
regulations. Ultimately, a robust ICS supports more informed decision-making, strengthens corporate governance, and drives
evaluation process considering technical capabilities, industry experience, and professional integrity in handling audits for
sustainable business growth.
large-scale public companies in Indonesia.
List of Public Accounting Firms and Public Accountants for the Last 5 Years Implementation of Internal Control System
The list of Public Accountants and KAPs that have audited Avian Brands’ Consolidated Financial Statements over the last 5 years ICS implementation is a vital foundation in supporting the creation of efficient, effective, and controlled operations within
is described as follows: Avian Brands. The ICS is comprehensively designed to build a framework that encourages the achievement of Avian Brands’
strategic targets, minimizes potential risks that could hinder performance, and ensures compliance with prevailing laws and
regulations. By integrating the ICS into all lines of business processes and managerial decision-making, Avian Brands not only
Financial Name of strengthens internal accountability and governance but also maintains the integrity and reliability of its operational systems in
Public Accounting Firms Opinion
Year Accountant
the long term. The implementation of ICS in Avian Brands is described as follows:
Public Accounting Firm of Teramihardja, Pradhono & Chandra (a member firm
2025 Novida Winata Unmodified
of Crowe Global)
Components of
Public Accounting Firm of Teramihardja, Pradhono & Chandra (a member firm
2024
of Crowe Global)
Agustina Felisia Unmodified Internal Control Implementation in Avian Brands
System
Public Accounting Firm of Tanudiredja, Wibisana, Rintis & Rekan (a member
2023 Ely Unmodified
firm of PwC global network) Reviewing the comparison between the budget target and realization through periodic reports. Similarly,
effective control requires the implementation of a clear and multi-level authorization system. Structured
Public Accounting Firm of Tanudiredja, Wibisana, Rintis & Rekan (a member Finance
2022 Ely Unmodified authorization levels ensure that every expenditure is in accordance with the established authority,
firm of PwC global network)
thus maintaining accountability and minimizing the risk of irregularities in budget management.
Public Accounting Firm of Purwantono, Sungkoro & Surja (a member firm of Benyanto
2021 Unqualified Requiring all employees to comply with Standard Operating Procedures (“SOPs”), which regulate various
Ernst & Young Global Limited) Suherman
procedures for operational activities to ensure effective and efficient performance. In addition to implementing
Operation SOPs, operations optimization is also carried out by reducing manual work through an integrated system.
This approach not only improves efficiency, but also minimizes the risks of deviations or violations during
Other Services Provided the implementation of operational activities.
Assets Insuring all fixed assets of Avian Brands under insurance covering fire and other risks.
There were no other services provided by the Public Accounting Firm of Teramihardja, Pradhono & Chandra (firma anggota
Crowe Global) other than audit services on Avian Brands’ Consolidated Financial Statements for the financial year ended
December 31, 2025.
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Components of
Statement of the Board of Commissioners and the Board of Directors on the
Internal Control Implementation in Avian Brands Implementation of the Internal Control System
System
The Board of Commissioners and the Board of Directors consistently ensure that the implementation of the ICS at Avian Brands
Through the Board of Directors, the Corporate Secretary, the Audit Committee, the Nomination and
is conducted systematically, in a structured manner, and sustainably through periodic evaluations. Throughout 2025, evaluation
Compliance with Remuneration Committee, the Good Corporate Governance Committee, the Related Party Transaction
Applicable Laws Committee, and the Internal Audit Unit, continuously communicating and coordinating to review Avian results indicated that the ICS functioned effectively and efficiently in ensuring operational reliability, financial reporting, and
and Regulations Brands’ compliance with applicable laws and regulations. The Corporate Secretary also regularly follows the compliance with applicable regulations. ICS implementation encompasses operational, reporting, and compliance aspects,
development of laws and regulations, especially those related to the capital market. with results assessed as adequate and without significant material findings. Any irregularities were promptly followed up on,
reflecting its responsiveness in supporting continuous improvement. The commitment of the Board of Commissioners and
The effectiveness of the ICS implementation is not solely determined by the establishment of systematic policies and procedures the Board of Directors to strengthening the ICS demonstrates ongoing efforts to maintain compliance and transparency, while
but is also highly dependent on the active participation and commitment of all organizational levels. Every individual, from establishing the ICS as an adaptive system that supports Avian Brands’ integrity and competitiveness going forward.
Management to operational employees, plays a vital role in operating the control system consistently and with integrity.
Consequently, Avian Brands continuously conducts socialization and training programs aimed at building a comprehensive
understanding of ICS principles and practices, ensuring they are effectively applied in daily activities. Furthermore,
the implemented ICS must be capable of adapting to the dynamics of the business environment, including emerging risks
and the ever-changing regulatory landscape. To this end, internal control mechanisms are periodically reviewed and refined
to remain relevant, responsive, and effective in supporting the achievement of Avian Brands’ strategic objectives while
Risk Management System
maintaining the integrity and transparency of all operational activities.
Avian Brands’ risk management system serves as a vital foundation for maintaining business resilience and sustainability through
Overview of the Effectiveness of Internal Control an integrated and systematic approach. This system is designed to proactively identify, analyze, and manage potential risks
and opportunities that may affect the achievement of Avian Brands’ strategic objectives. Through effective implementation,
The Internal Audit Unit plays a strategic role in ensuring the effectiveness of ICS implementation across all of Avian Brands’ Avian Brands is able to respond adaptively to business dynamics, minimize threats, and optimize opportunities to maintain
operational lines. Through a systematic, risk-based approach, the Internal Audit Unit conducts comprehensive assessments operational continuity.
of ICS implementation to ensure that every business activity operates efficiently, remains under control, and complies with
established policies and procedures. This evaluation focuses not only on compliance but also aims to identify areas with Risk management at Avian Brands functions not only as a mitigation tool but also as an integral part of the strategic
potential weaknesses or irregularities within business processes. Findings derived from the audit process serve as the basis for and operational decision-making process across all organizational lines. Every policy and business activity undergoes
formulating constructive recommendations to strengthen ICS design and effectiveness, while improving overall governance an in-depth risk assessment with well-planned mitigation steps, ensuring the implementation of robust governance oriented
and operational performance. Accordingly, the Internal Audit Unit contributes significantly to creating a control system that is toward sustainable added value. By strengthening policies, procedures, and risk culture at all levels, Avian Brands reaffirms its
adaptive, accountable, and oriented toward continuous improvement. commitment to building a resilient, competitive, and accountable company. Thus, the risk management system plays a crucial
role in safeguarding business continuity and supporting the achievement of optimal long-term performance.
In ensuring that the implementation of ICS is working well, the Internal Audit Unit does several things as described as follows:
1. Conducting independent inspections within Avian Brands to increase the added value of Avian Brands’ operations by
providing independent and objective assurances and consultations; Types and Mitigation of Risks
2. Supporting the achievement of objectives through the adoption of a systematic approach by evaluating and improving
the effectiveness of risk management, control, and good corporate governance processes; Based on a study conducted in 2025, the risks faced by Avian Brands and its mitigation efforts are described as follows:
3. Serving as a professional advisor to the Board of Directors as well as a catalyst for all work units and Avian Brands as a whole;
4. Ensuring that the internal control risk management and corporate governance process of Avian Brands is sufficient and Main Risks with Significant Influence on Business Continuity
functioning properly;
5. Evaluating compliance with prevailing laws, regulations, as well as policies and procedures of Avian Brands; Indication Mitigation
6. Evaluating whether or not key financial, managerial, and operational information within the scope of the audit is presented Avian Brands’ business activities depend on the continued • Performing continuous benchmarking with competitors to ensure that
accurately, completely, reliably, and in a timely manner; success of its key brands, such as Avian, Avitex, and No Drop; such products remain superior in the market;
and any failure to maintain the brand strength and value of • Allocating funds to support the marketing efforts for such products;
7. Identifying any potential savings and cost-effectiveness, and providing recommendations to improve cost efficiency and such products could have a material and negative impact • Continuing the development of such products to maintain or improve
effectiveness; on the business activities, financial condition, and results of quality; and
8. Performing special assignments from the Board of Directors, the Board of Commissioners, and/or the Audit Committee that operations of Avian Brands. • Adding variants of such products to strengthen the brand image and
are relevant to the aforementioned scope of works, for example investigation and disclosure of irregularities, fraud, and capture the growing needs in the market.
waste; and
9. Preparing audit reports and recommendations for improvements.
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Risks related to Business and Industry General Risks
Indication Mitigation Indication Mitigation
Avian Brands faces intense competition, and should it fail to • Increasing investment in product development, being selective in Avian Brands’ business activities, financial condition, results of Monitoring global and national economic conditions to ensure that Avian
compete effectively, it may lose market share and its operating promotional and advertising activities, as well as product distribution; operations, and business prospects may be negatively affected Brands can formulate appropriate and flexible strategies to adapt to
results may be negatively affected. • Pricing Avian Brands’ products competitively based on a combination by global, regional, and national economic conditions. existing changes.
of various factors, including Avian Brands’ ability to develop product
Indication Mitigation
uniqueness from other competing products;
• Adding a distribution network to strengthen Avian Brands’ product Avian Brands may not be able to adequately protect its • Entering into license agreements with third parties;
penetration; and intellectual property rights. • Relying on contractual agreements and legal protections to protect
• Enhancing customer service through initiatives such as the Avian Brands the intellectual property rights of Avian Brands; and
Priority Customers Program, Avian Brands Partner Program, one-day • Relying on Indonesian patent, trademark, trade secret, and copyright
delivery, and express delivery. laws to protect the intellectual property rights of Avian Brands.
Indication Mitigation Indication Mitigation
Avian Brands’ efforts to innovate and develop products may • Developing a complete and modern Research, Development, and Avian Brands may fail to obtain, or experience material delays Ensuring that all certificates, permits, licenses, and other matters relating
not be successful. Innovation (“RDI”) center by recruiting and developing qualified chemist in obtaining or renewing the certificates, licenses, permits, or to permits for operational activities, including leases, are continuously
personnel; Government approvals required for Avian Brands’operations updated.
• Preserving good relationships with suppliers of materials to obtain and relevant leasing activities at its manufacturing facilities.
information on the developments of the latest materials; As a result, Avian Brands’ business activities, financial
• Recruiting experts in the global coating sector; and condition, and operational results may be materially affected.
• Conducting market studies in countries with more advanced industrial Indication Mitigation
development, such as China and India, as part of an ongoing effort
to monitor and understand the latest dynamics and trends within Regulation of greenhouse gas emissions and climate change Implementing and improving the Environmental Management System (ISO
the industry. issues may have a negative impact on Avian Brands’ operations 14001) and Energy Management System (ISO 50001), as well as monitoring
and markets. the consistency of implementation in our environment, for example the
Indication Mitigation development of environmentally friendly products (green label), the use of
In maintaining the success of its business, Avian Brands relies • Improving the quality of Avian Brands’ human resources; renewable energy (solar panels), and the use of electric forklifts to replace
on the availability of certain core personnel and its success in • Paying care and attention to the recruitment, development, and career diesel, as well as replacing solar energy for thermo and boilers with gas
recruiting and retaining other qualified personnel. path processes; and energy. In line with that, programs related to environmental concerns
• Building partnerships with leading universities/academies to secure are also continually aligned with ISO 26000, which is one of the guiding
quality talents. standards for social responsibility.
Indication Mitigation
Avian Brands has also established emission reduction targets that are
Avian Brands’ main business activities depend on a stable and • Procuring and maintaining a consistent and adequate supply of raw monitored regularly by the Quality Assurance and Sustainability team.
adequate supply of raw materials, and the operating results materials at a reasonable price by always seeking or updating new This oversight ensures the achievement of targets is in line with Avian
of Avian Brands may be materially affected due to rising raw (alternative) suppliers; and Brands’ sustainability commitments, while supporting contributions to
material costs or lack of raw material availability. • Implementing limited hedging strategies against foreign currency overall environmental impact reduction.
exposures, such as the United States Dollar (“USD”) and Chinese Yuan
Indication Mitigation
(“CNY”), given that a portion of raw materials is still sourced through
imports. Labor activism, riots, and labor laws in Indonesia may have a Avian Brands’ constant efforts to comply with all regulations related to
materially adverse effect on Avian Brands. employment to minimize related risks.
Indication Mitigation
Avian Brands leases important assets, such as warehouses and Maximizing with a longer lease term (3 – 5 years).
distribution centers. The inability to renew these leases may
affect Avian Brands’ operational capabilities.
Indication Mitigation
Avian Brands is involved in a number of transactions with Ensuring that all transactions with affiliated parties (Related Party
related parties (affiliates) and is not able to guarantee that its Transactions) are carried out on an arm's length basis to avoid negative
operational results or financial condition will not be negatively effects arising from unhealthy business practices.
affected in the future if the provisions of these agreements are
terminated or amended in a way that may potentially harm
Avian Brands.
Indication Mitigation
Avian Brands may not be able to procure an adequate and • Ensuring that cooperation agreements with vendors are well maintained;
continuous supply of electricity, fuel, water, equipment, and • Ensuring the availability of alternative vendors; and
spare parts, or to procure them at a favorable price. • Looking for alternative energy sources, such as the use of solar panels, so
that the electricity supply reserves are maintained.
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Financial Risks
Legal Disputes with Material Impacts and
the Administrative Sanctions Imposed
Indication Mitigation
Foreign Currency Risk Being continually diligent in paying obligations of Avian Brands in foreign
The functional currency of Avian Brands is Rupiah. Avian currencies in order to avoid speculative effects and performing limited
Brands is exposed to foreign exchange rate risk as some of its hedging actions (forward contracts). All bank loans, if any, are in Rupiah.
purchases and operating costs are denominated in foreign Avian Brands also monitors foreign currency movements, especially USD
currencies. This risk arises from the weakening/strengthening and CNY. Legal Disputes with Material Impacts Administrative Sanctions
of the value of a foreign currency against Rupiah causing the
debt and operational costs in Rupiah to decrease/increase. Throughout 2025, no legal disputes with material impact, Throughout 2025, no administrative sanctions were
Indication Mitigation either civil or criminal, were faced by Avian Brands, imposed on Avian Brands, the Board of Commissioners, and
Credit Risks • Policies to ensure product sales are made only to customers who may be the Subsidiaries, the Board of Commissioners, and the Board the Board of Directors by the Financial Services Authority,
Risks arising from the customer’s inability or delay in fulfilling trusted and proven to have a good credit history; of Directors. the Indonesia Stock Exchange, or other authorities, which
all debts from credit sales to Avian Brands. • Purchases on credit must go through credit verification procedures; have permanent legal force.
• Providing credit terms mostly up to 63 days from the invoice issuance
date;
• Continuously monitoring the balance of receivables to reduce
the possibility of uncollectible receivables; and
Code of Conduct
• Ensuring that customers, particularly Avian Brands’ distributors, provide
payment security which may be in the form of cash (deposits), bank
guarantees, or payment security through distributor financing from
banks that cooperate with Avian Brands.
Indication Mitigation
Liquidity Risks • Managing the liquidity profile to determine measured capital allocation,
Avian Brands views GCG implementation as the primary foundation for driving sustainable business growth and enhancing
Risks arising from Avian Brands’ inability to meet its obligations including the fulfillment of working capital requirements, the realization the long-term value of Avian Brands. As part of this commitment, Avian Brands has formulated and implemented the Business
as they fall due. of capital expenditures (capex), dividend distribution policies, Ethics and Code of Conduct as a moral and professional reference that must be adhered to by all Avian Brands personnel,
the execution of share buybacks, as well as potential corporate actions, including the Board of Directors, the Board of Commissioners, and all other supporting organs. This document regulates the
such as mergers and acquisitions (M&A);
• Ensuring the availability of funding through sufficient numbers of
standards of behavior in performing their respective functions, authorities, and responsibilities, while serving as a guide for
committed credit facilities; and building a work culture based on the values of honesty, integrity, and professionalism.
• Evaluating projected and actual cash flows, and continuously assessing
conditions on financial markets for opportunities to pursue fundraising
initiatives.
The Business Ethics and Code of Conduct is designed not only to ensure that all business activities are conducted ethically but
Indication Mitigation also to foster harmonious and constructive working relationships with all stakeholders. Through the consistent application
Interest Rate Risk Review of various interest rates offered by creditors by the management to of ethical principles, Avian Brands strives to create a healthy work environment, enhance public trust, and strengthen
Risks arising from loan facilities provided to Avian Brands for find the most favorable interest rates prior to any debt commitment. the implementation of GCG principles across all operational lines. This approach also serves as a manifestation of Avian Brands’
working capital and investment purposes.
commitment to maintaining business sustainability with integrity and providing a lasting positive impact on all parties involved
in or affected by Avian Brands’ business activities.
Overview of the Implementation Effectiveness of the Risk Management System
Principles of Business Ethics and Code of Conduct
Avian Brands consistently conducts a comprehensive evaluation of the effectiveness of its risk management system to ensure
that mitigation efforts run optimally and align with Avian Brands’ strategic goals. This evaluation includes a review of the The principles of Avian Brands’ Business Ethics comprise the following:
planning, execution, and mitigation results to identify any gaps between planning and realization. The evaluation results serve
as the basis for formulating relevant corrective actions to improve areas that remain weak or inefficient. Through a cycle of
continuous review and improvement, Avian Brands’ risk management system continues to evolve and adapt to changes in Compliance with prevailing Laws and
1 6 Company Ethics for Mass Media
Regulations
the business environment and regulations. This approach strengthens corporate governance, safeguards business value and
sustainability, and enhances stakeholder confidence in Avian Brands’ resilience and integrity.
Company Ethics for Company
2 7 Company Ethics for Business Partners
Personnel
Statement of the Board of Commissioners and the Board of Directors on
the Implementation of the Risk Management System
3 Company Ethics for Consumers 8 Responsibilities to the Government
The Board of Commissioners and the Board of Directors place risk management system effectiveness as a vital element of
Avian Brands’ governance by ensuring systematic, structured, and sustainable implementation thereof. Periodic evaluations
indicate that throughout 2025, the risk management system functioned effectively in detecting potential risks and providing
a mitigation framework that supports responsive and measurable strategic decision-making. Responsibilities to Society and
4 Company Ethics for Shareholders 9
the Environment
Recognizing the ever-changing business dynamics, the Board of Commissioners and the Board of Directors continue to
strengthen this system by integrating evaluation results into strategic planning, enhancement of policies, and development of 5 Company Ethics for Competitors 10 Responsibilities in Innovation
organizational capabilities to address emerging risks. This commitment highlights the role of risk management as a strategic
tool to safeguard business resilience, operational sustainability, and the achievement of Avian Brands’ long-term objectives.
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The principles of Avian Brands’ Code of Conduct comprise the following: Sanctions for Violation of Business Ethics and Code of Conduct
Avian Brands implements firm and proportional sanction mechanisms for any violations of the Business Ethics and Code of
1 Individual Commitment 8 Giving and Receiving of Gratuities Conduct. The imposition of these sanctions is an integral part of the disciplinary enforcement system to maintain compliance
with ethical values and foster a responsible work culture. Sanctions are applied progressively, ranging from verbal and
written warnings, severe warnings with suspension, to financial penalties or Termination of Employment (Pemutusan
Communication and Information Hubungan Kerja/“PHK”) for severe misconduct. Every disciplinary action is conducted based on the principles of fairness and
2 9 Integrity of Financial Reporting
Delivery proportionality, taking into account the severity of the violation and its impact on the company’s reputation and operations.
Maintenance of the Confidentiality of
Employee Stock Allocation Program
3 Data, Confidential Information, and 10 Protection of Company Assets
Material Information of the Company
4 Use of Company Technology 11 Budget Planning and Use
Throughout 2025, Avian Brands did not have an Employee Stock Allocation (“ESA”) program for the Board of Directors,
the Board of Commissioners, or employees. This program was previously realized by Avian Brands in 2021, coinciding
Cooperation between Company Occupational Health and Safety and with the IPO process.
5 12
Personnel Environment (“OHSE”)
6
Equality in Treatment and Provision
of Opportunities
13 Conflict of Interests Information Disclosure Policy
Compliance with prevailing Laws and Avian Brands has established a policy regarding the reporting of share ownership by members of the Board of Commissioners
7
Regulations and the Board of Directors, whether held directly or indirectly. This policy is stipulated in the official Report on Share Ownership
and Changes in Share Ownership of the Board of Commissioners and the Board of Directors, which was first enacted on
December 27, 2021, and most recently updated on October 11, 2024.
Forms of Socialization and Efforts to Disseminate Business Ethics and Code of Conduct The primary objective of this policy is to ensure a high level of transparency and maintain accountability for all forms of share
ownership by Avian Brands’ Management. Through this policy, Avian Brands ensures that every transaction or change in share
Avian Brands consistently socializes the Business Ethics and Code of Conduct to all employees as part of its commitment ownership is reported openly, in time, and accurately, in accordance with the GCG pillars. Consequently, this policy not only
to implementing GCG principles. These activities aim to instill understanding and compliance with corporate behavioral strengthens internal integrity but also enhances stakeholder and public confidence in the Avian Brands’ corporate governance.
standards through the orientation process for new employees and ethics reinforcement programs conducted periodically
by the Good Corporate Governance Committee. One form of implementation is the signing of the Integrity Pact The reporting mechanisms and timeframes for each member of the Board of Commissioners and the Board of Directors to
(Form No. AA-HRD-FRM-01-010) as a manifestation of individual commitment to integrity and professionalism. report their ownership and any changes in ownership of Avian Brands’ shares are outlined as follows:
The Business Ethics and Code of Conduct is also available digitally on the internal website to provide easy access for all
Self-Reporting Reporting through Authorization
employees. Furthermore, Avian Brands organizes routine training and education, as well as disseminates information through
internal communication channels, such as email, discussion forums, and visual materials. These ongoing efforts strengthen Members of the Board of Commissioners or members of the Board of Members of the Board of Commissioners or members of the Board
a work culture that upholds honesty, accountability, and responsibility, while simultaneously fostering a professional, inclusive Directors directly submit a report to the Financial Services Authority of Directors submit a report through the Corporate Secretary by
(Otoritas Jasa Keuangan or "OJK") and deliver a copy of the report attaching a Special Power of Attorney no later than 2 calendar days
work environment aligned with GCG principles. to the Corporate Secretary. The reporting period is no later than 3 from the effective date of the ownership or every change in share
working days to OJK from the occurrence of the ownership or any ownership in Avian Brands. The reporting period is no later than
change in share ownership in Avian Brands. 3 working days to OJK from the occurrence of the ownership or any
Efforts in Enforcing Business Ethics and Code of Conduct change in share ownership in Avian Brands.
Avian Brands is committed to consistently enforcing the Business Ethics and Code of Conduct at all organizational levels, Avian Brands may also submits a transaction report to the OJK no later than 3 working days from the transaction date. In this
from employees to the Board of Directors and the Board of Commissioners. This policy serves as the primary foundation for regard, Avian Brands has submitted reports on the share ownership of members of the Board of Commissioners and/or Board
conducting business activities with integrity, professionalism, and regulatory compliance, while fostering an accountable and of Directors throughout 2025 via e-reporting to the Financial Services Authority and the Indonesia Stock Exchange.
sustainable work culture.
To ensure its effectiveness, the implementation of this policy is overseen by the Good Corporate Governance Committee, which Share Ownership Disclosure
is tasked with monitoring and enforcing compliance with the principles of the Business Ethics and Code of Conduct across
all organizational lines. Through rigorous oversight and a proactive approach, the Good Corporate Governance Committee Disclosure of ownership, either directly or indirectly, of Avian Brands’share can be found in the Composition of Share Ownership
ensures that ethical values are embedded in every decision and operational activity, thereby strengthening transparency, by Members of the Board of Commissioners and the Board of Directors in Avian Brands Profile chapter of this Annual Report.
integrity, and stakeholder trust in Avian Brands.
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Method of Submission and Parties Managing Reports of Violations
Avian Brands consistently encourages all individuals within the organization to play an active role and have the moral
courage to report any suspected violations, irregularities, or fraudulent acts encountered in the work environment. To ensure
the reporting process can be effectively followed up on, whistleblowers are expected to provide complete, accurate, and factual
information. The submission of comprehensive information not only accelerates the verification process but also ensures that
the subsequent handling is objective, well-targeted, and aligned with the principles of fairness as well as Avian Brands’ internal
policies. The information that needs to be included in submitting a violation report includes the following:
Types of Actions Suspected as
1 5 How the Violation Occurred
Violation
If the Violation Has Been Reported to
2 Parties Involved in Violation 6
Other Parties
If the Violation Has Occurred Before
3 Location of Violation 7
and Is a Repeated Action
Other Important and Relevant
4 Time of Violation 8
Information
Reports concerning violations may be submitted to the following channels:
The Good Corporate
Governance Committee
Whistleblowing System Avian Brands (62) 81138505000
Building
Jl. Ahmad Yani No. 317 www.avianbrands.com
Surabaya, 60234
Avian Brands has implemented a Whistleblowing System (“WBS”) as stipulated in the Whistleblowing System Guidelines, which Jawa Timur,
were first established on June 25, 2021, and updated on December 27, 2021. This policy is designed as a proactive internal Indonesia pengaduan@avianbrands.com
oversight mechanism to prevent and detect potential violations, fraud, or unethical actions within Avian Brands.
Through this system, Avian Brands provides a secure, reliable, and accessible reporting channel for all stakeholders, including
employees, business partners, and external parties, to report allegations of misconduct based on good faith and supported by
accountable evidence. The system also guarantees confidentiality of the whistleblower’s identity and protection from any form
of retaliation. The effective implementation of the WBS enables Avian Brands to follow up on reports promptly and objectively,
as well as to conduct in-depth evaluations of potential weaknesses in the internal control system. Consequently, Avian Brands The mechanism for handling violation reports at Avian Brands is implemented in a structured manner based on GCG principles,
can continuously strengthen a culture of integrity, transparency, and accountability across all operational aspects, while which involves authorized parties appointed according to the classification and urgency of the reports received. Each
maintaining stakeholder trust in the credibility of its corporate governance. incoming report is professionally managed by the competent parties, having full responsibility for receiving, conducting initial
assessments, and carrying out comprehensive and objective investigation processes.
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All stages of handling reports, from initial information verification to investigation, are conducted by upholding the principles Procedures in Handling Violation Reports
of transparency, accountability, and confidentiality to protect the whistleblower’s identity and maintain the integrity of the
investigation process. The handling of reports is focused not only on identifying the violations that occurred but is also directed Every violation report received by Avian Brands is followed up on through a systematic and evidence-based process.
toward formulating appropriate corrective and preventive actions to ensure that similar cases do not recur in the future. The The process begins with the collection and initial verification of supporting evidence to ensure the validity and completeness of
parties authorized to follow up on reporting in the Avian Brands are: the information submitted. Subsequently, the Good Corporate Governance Committee conducts a comprehensive evaluation
to assess whether the report meets the established objective criteria for further action.
If a report is deemed eligible for processing, its status is elevated to the investigation stage, and the information is presented
to the Board of Directors for further direction and action. Conversely, if a report does not meet the requirements or is not
supported by sufficient evidence, the whistleblower is provided with a transparent explanation regarding the decision and the
reasons for rejection, in order to maintain fairness and build trust in the available reporting system.
The Good Corporate The Board of
Governance The Board of The Board of Commissioners Regarding the distribution mechanism, reports involving employees are forwarded in the form of a letter to the President
Committee and its Directors, Commissioners, and the Board of Director, while reports concerning members of the Board of Directors are sent directly to the Board of Commissioners for
officers, Directors, independent follow-up. These procedures are designed to ensure that all violation reports are processed proportionally,
accountably, and in accordance with applicable governance standards, as well as to uphold the principles of integrity and
if the reported party is an if the reported party is a if the reported party is if the reported party is a
fairness within Avian Brands’ work environment.
employee of Avian Brands. member of the Whistleblowing a member of the Board of member of the Board of
System Management. Directors. Commissioners.
Complaints Disclosure through the Whistleblowing System in 2025
Number of Complaints through Whistleblowing System
Throughout 2025, Avian Brands received 3 complaint reports submitted to the whistleblowing system with the following
Protection for Whistleblowers
description:
Avian Brands places whistleblower protection as a crucial aspect of the WBS implementation to encourage a culture of
openness without fear of retaliation. To mitigate potential risks that may arise from reporting, Avian Brands guarantees Report Category Total Report
the confidentiality of the whistleblower’s identity as well as all information related to the submitted report. Access to such
Fraud
data is restricted solely to authorized and relevant parties involved in the verification and investigation process. As a form of Reporting of a case that results in Avian Brands’ loss. -
comprehensive protection, Avian Brands strictly prohibits all forms of threats, intimidation, discrimination, or other repressive
actions against whistleblowers, including individuals involved in the investigation process or those providing supporting Major Violations
1
Reporting of a case that constitutes a violation of the SOP or Company Regulation.
information, provided they maintain good faith and adhere to confidentiality principles.
Minor Violations
-
Reporting of a case that constitutes a violation of the employee and workplace discipline/organization.
This policy is designed to create a conducive, safe, and supportive environment for all Avian Brands Personnel to voice
suspected violations occurring within the work environment. Consequently, Avian Brands not only strengthens its commitment No Issue
2
Reporting of a case that does not indicate/is not proven to constitute a violation.
to integrity and accountability but also builds trust that every report submitted will be followed up on fairly, professionally, and
without any risk to the whistleblower.
All violation reports received by Avian Brands have been followed up on by the competent team in accordance with
the applicable procedures. Each report was evaluated based on the severity of the violation, the impact on the organization,
and the provisions of internal policies and applicable regulations. The handling process was conducted in a measurable and
proportional manner, considering fairness and the effectiveness of the resolution to align with the GCG pillars. Through this
approach, Avian Brands ensures that every complaint is processed thoroughly and firmly, to maintain organizational integrity
and create a professional, accountable work environment free from misconduct.
Sanctions and Follow-ups of Complaints through the Whistleblowing System
If, based on the investigation results, it is proven that the reported party committed fraud or violation, the deciding official will
impose sanctions in accordance with applicable regulations.
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Anti-Corruption and Gratification Policy
This policy sets clear limits on the use of material information that has not been made public, as well as prohibits parties
having access to confidential information from engaging in trading that could harm Avian Brands’ interests or create market
unfairness. With this measure, Avian Brands is determined to prevent any misuse of information, and to ensure that all activities
involving Avian Brands’ securities are carried out in compliance with the principles of transparency and accountability.
Anti-Corruption and Gratification Programs and Procedures
Avian Brands consistently conducts all business and operational activities in an accountable and transparent manner, in
line with the provisions of prevailing laws and regulations. As a concrete manifestation of these principles of integrity, Avian
Brands enforces a strict prohibition against all forms of bribery, corruption, gratification, and money laundering practices.
This anti-corruption and gratification policy is not merely normative, but it has been fully integrated into the Business Ethics
and Code of Conduct, serving as the primary reference for all Avian Brands personnel in performing their duties and making Policy on Fulfillment of Creditors’ Rights
decisions. The policy includes the following::
1. Avian Brands’ Personnel may provide gifts, souvenirs, or 3. Avian Brands Personnel are allowed to receive something
entertainment to eligible parties under these conditions: from Avian Brands and/or other parties, which will Avian Brands strictly governs the fulfillment of creditors’ rights through the Policy adopted on December 27, 2021. This policy is
a. Supporting the interests of Avian Brands, conducted not affect their actions related to their position and designed as a comprehensive guideline in the management of loans and liabilities to creditors, both domestically and abroad.
responsibly and does not cause harm to Avian occupation in Avian Brands, in the case of: With this policy, Avian Brands is committed to maintaining the integrity of its relationship with creditors and ensuring that all
Brands’ image, and is done with due regard to the a. Receiving a banquet; its rights are fulfilled in a fair and timely manner. This is essential to build and maintain creditor’s confidence in Avian Brands’
relevant applicable regulations; b. Receive promotional items that contain the logo/ ability and commitment to meet its financial obligations.
b. Not intended to bribe and/or offer or direct another name of the providing company;
party to commit bribery; and c. In the context of donations in the event of a disaster In implementing this policy, Avian Brands pays attention to both the interests of local creditors and international creditors
c. Not intended to induce the recipient to take any and/or certain celebrations/events according to in an equal manner. Both the creditors located in the territory of the Republic of Indonesia (onshore creditors) and outside
action that is contrary to his/her obligations or to local customs; and the territory of Indonesia (offshore creditors) will get equal and transparent treatment in accordance with the applicable
applicable regulations; 4. Submit a disclosure report on each granting and provisions. Therefore, Avian Brands strives to ensure that all aspects related to the fulfillment of creditors’ rights are carried out
2. Avian Brands Personnel are prohibited from receiving receiving of gratuities in accordance with the procedures with the principles of fairness and responsibility.
gifts, souvenirs, entertainment, or other facilities established by Avian Brands.
or gratuities in any form related to their position
and occupation, which may affect Avian Brands’
decision-making or violate applicable regulations;
Training or Socialization of Anti-Corruption and Gratification Policy Conflict of Interest Guidelines
Avian Brands ensures the effective implementation of the anti-corruption and gratification policy through a comprehensive
socialization process for all Avian Brands Personnel. Every individual within the organization is required to sign an Integrity Pact Avian Brands recognizes the crucial importance of strictly addressing conflicts of interest to ensure optimal Avian Brands
as an official statement of their personal commitment to complying with the policy. For new employees, understanding of this management and harmonious relationships with all stakeholders. Therefore, Avian Brands has formulated Conflict of
policy is reinforced from the outset through a specifically designed induction program, ensuring that anti-corruption values Interest Guidelines that aim to create a transparent and fair environment. These guidelines refer to the prevailing laws and
are deeply embedded from their first day of joining. Through this approach, Avian Brands builds a solid ethical foundation to regulations, and integrate the principles under the GCG Guidelines of Business Ethics and the Code of Conduct, as well as
create a clean, transparent, and accountable work environment. the Corporate Culture applicable to Avian Brands. The adoption of these guidelines and updates thereof, on June 25, 2021
and December 27, 2021, respectively, reflects Avian Brands’ commitment to continuously enforcing the highest standards in
managing potential conflicts of interest.
In accordance with the Conflict of Interest Guidelines, Avian Brands strives to ensure that every decision and action taken
Policy to Prevent Insider Trading
within the scope of Avian Brands is free from personal interests that may harm Avian Brands’ integrity. These guidelines are
thoroughly enforced to ensure that all Avian Brands’ elements operate within a common framework, achieving Avian Brands’
objectives in a sustainable manner and consistently safeguarding Avian Brands’ values.
Avian Brands has implemented the Insider Trading Prevention Policy adopted on December 27, 2021, as an integral part of its
efforts to maintain market integrity and avoid conflicts of interest. This policy aims to ensure that all securities trading activities
of Avian Brands are conducted in a fair and transparent manner and to protect the interests of Avian Brands in implementing
various corporate actions. With this policy, Avian Brands is committed to maintaining market fairness and protecting the
integrity of information related to securities trading.
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Communication Policy Guidelines Affiliated Transaction Guidelines
Complementing the aforementioned policy, Avian Brands has the Affiliated Transaction Guidelines in place, established on
November 16, 2022, as the primary guidelines to ensure all transactions with affiliated parties are conducted transparently and
Avian Brands has stipulated the Communication Policy Guidelines to govern effective and transparent interactions with in accordance with fairness principles. These guidelines strengthen the Management’s independence and prevent potential
the Shareholders, the Capital Market Authority, and the capital market community. These guidelines are designed to ensure conflicts of interest. Every proposed transaction is reported to the Corporate Secretary and the Legal Department for review
that all information submitted by Avian Brands is complete, accurate, actual, not misleading, easily accessible in accordance alongside the Related Party Transaction Committee; the results are then submitted to the Board of Directors, Audit Committee,
with statutory provisions, and fair. With these guidelines, Avian Brands aims to provide convenient and fair access for all and Board of Commissioners for approval. If an affiliated transaction meets the criteria that requires GMS approval, such GMS
Shareholders, allowing them to exercise their rights in a fair and transparent manner. resolution must be obtained through the approval of Independent Shareholders. This process is carried out in compliance
with POJK No. 42/POJK.04/2020 concerning Affiliated Transactions and Conflicts of Interest, to ensure that all transactions are
Established on December 27, 2021, the Communication Policy Guidelines also serve as assurance that Avian Brands maintains executed transparently, fairly, and with integrity.
standards of communication in every interaction with related parties. These guidelines support Avian Brands’ efforts to
maintain integrity and credibility in providing information and ensuring that all stakeholders receive equal and fair treatment.
Thus, these guidelines are instrumental in building trust and harmonious relationships between Avian Brands and its
stakeholders. Succession Policy in the Board of Commissioners
and the Board of Directors Nomination Process
Avian Brands has established the Succession Policy in the Board of Commissioners and Board of Directors Nomination Process
to ensure the continuity of the leadership regeneration and formation process in Avian Brands. This policy is designed to
Policy Guideline in Resignation Procedure of maintain business continuity and contribute to Avian Brands’ long-term goals. In this policy, the Nomination and Remuneration
Committee is responsible for developing systems and procedures for the selection and replacement of members of the Board
the Board of Commissioners and the Board of of Commissioners and Board of Directors to be submitted to the GMS. Each nomination process adheres to GCG principles,
including transparency, accountability and responsibility.
Directors in the Event of Involvement in Adopted on December 27, 2021, this policy also regulates the procedures for assessing prospective members proposed by
Financial Crime the Shareholders, the Board of Commissioners, or the Board of Directors. The Nomination and Remuneration Committee
conducts a comprehensive evaluation of each nomination, taking into account the qualifications and requirements in
accordance with the Articles of Association and the Board of Commissioners Charter and/or the Board of Directors Charter.
Avian Brands has established a Policy Guideline in Resignation Procedure of the Board of Commissioners and the Board of Upon review, recommendations are submitted to the Board of Commissioners for a final resolution before submission to the
Directors in the Event of Involvement in Financial Crime, as an integral part of the efforts to thoroughly implement GCG GMS. This policy ensures efficient succession process and supports the sustainability of Avian Brands’ operations.
principles. These guidelines are designed to ensure that any member of the Board of Commissioners and the Board of Directors
involved in financial crimes, shall automatically be obliged to submit his/her resignation from his/her position. This constitutes
a strategic measure to maintain integrity and transparency in Avian Brands’ management, and ensure that all Avian Brands’
leaders fulfill their duties in accordance with ethical standards and applicable laws.
Implementation of Governance Guidelines
Established on December 27, 2021, this Policy Guideline reflects Avian Brands’ commitment to clean and responsible governance
practices. With this guideline in place, Avian Brands emphasizes its determination to enforce the rules and strictly respond to for Public Companies
violations, in order to protect Avian Brands’ reputation and sustainability. This guideline serves as a guide for preventive as well
as responsive actions in dealing with situations involving allegations of financial crimes by Avian Brands’ upper management. Avian Brands’ implementation of the principles and recommendations of the guidelines, based on the “fulfilled or explanation”
approach, is described as follows:
No. Aspects/Principles/Recommendations Status Implementation in Avian Brands
I. Relationships of Public Companies with the Shareholders in Assuring the Rights of the Shareholders.
Policy on Review and Approval of Transactions 1. Increasing the Value of the General Meeting of Shareholders (GMS).
with Affiliated Parties
a. Public companies have technical voting methods or Fulfilled The voting procedure in the GMS is regulated in the Articles
procedures, both publicly and privately, that promote of Association related to the meeting rules and is informed
independence and the interests of shareholders. to the Shareholders in the invitation to the GMS and at the
beginning of the GMS.
b. All members of the Board of Commissioners and the Fulfilled All members of the Board of Commissioners and the Board
Avian Brands implements a strict policy to ensure that every transaction with affiliated parties is conducted on an arm’s length Board of Directors of a public company attend the of Directors attend at the Annual General Meeting of
basis, transparently, and free from conflicts of interest. All transactions are reviewed by Management and the Audit Committee, Annual GMS. Shareholders held on April 10, 2025.
which provide independent recommendations to the Board of Commissioners. For transactions that are material or significant, c. A summary of the GMS minutes is available on the Fulfilled The summary of the minutes of the 2025 GMS has been
the final decision is made through a GMS, in accordance with the prevailing regulations. Through this policy, Avian Brands website of the public company for at least 1 year. posted on Avian Brands’ website in the Investor Information
reaffirms its commitment to integrity, accountability, and prudent business practices to protect the interests of Shareholders Center section.
and support the company’s sustainability.
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No. Aspects/Principles/Recommendations Status Implementation in Avian Brands No. Aspects/Principles/Recommendations Status Implementation in Avian Brands
2. Improving the Quality of Public Companies’ Communication with Shareholders or Investors. c. The Board of Directors has in place a policy related to Fulfilled The policy concerning the resignation of the Board of
the resignation of members of the Board of Directors in Directors is regulated in the Policy in Resignation Procedure
a. Public companies have a communication policy with Fulfilled The communication policy with Shareholders or Investors the event of involvement in financial crimes. of the Board of Commissioners and the Board of Directors
shareholders or investors. is regulated in the Communication Policy Guidelines in the Event of Involvement in Financial Crime, which was
stipulated on December 27, 2021. stipulated on December 27, 2021.
b. Public companies disclose their communication policy Fulfilled Avian Brands’ communication policy has been disclosed on IV. Stakeholders Participation.
with the Shareholders or Investors on their websites. its website.
7. Improving Corporate Governance Aspects through Stakeholders Participation.
II. Functions and Roles of the Board of Commissioners.
a. Public companies have in place a policy to prevent Fulfilled The policy to prevent insider trading is set out in the Policy to
3. Strengthening the Membership and Composition of the Board of Commissioners. insider trading. Prevent Insider Trading, which was stipulated on December
a. The determination of the number of members of the Fulfilled The number of members of the Board of Commissioners is 27, 2021.
Board of Commissioners takes into consideration the in accordance with the provisions of Avian Brands’ Articles of b. Public companies have a policy in place to promote Fulfilled Avian Brands has an anti-corruption and anti-fraud policy in
conditions of the public company. Association and has been adjusted to the complexity of the anti-corruption and anti-fraud. place, which is contained in the Business Ethics and Code of
business of Avian Brands. Conduct of Avian Brands.
b. The determination of the composition of members of Fulfilled The nomination and appointment of the Board of c. Public companies have a policy in place for the Fulfilled Avian Brands has in place a policy on the selection and
the Board of Commissioners takes into consideration Commissioners has taken into account the diversity of selection and improvement of the capabilities of improvement of capabilities of suppliers, which serves as
the diversity of expertise, knowledge, and required expertise, knowledge, and experience relevant to the suppliers or vendors. a guide for related units in selecting working partners, as
experience. responsibilities carried out in Avian Brands. stated in the Business Ethics and Code of Conduct of Avian
4. Improving the Quality of the Implementation of the Duties and Responsibilities of the Board of Commissioners. Brands.
a. The Board of Commissioners has a self-assessment Fulfilled The performance assessment policy for the Board d. Public companies have in place a policy on the Fulfilled The policy on the fulfillment of creditors' rights is regulated
policy to assess the performance of the Board of of Commissioners is regulated in the Performance fulfillment of creditors’ rights. in the Policy on the Fulfillment of Creditors' Rights, which
Commissioners. Assessment Policy of the Board of Directors and the Board was stipulated on December 27, 2021.
of Commissioners, which was stipulated on December 27, e. Public companies have a policy in place for whistleblowing Fulfilled Avian Brands has in place a Whistleblowing System Policy
2021, and last updated on December 18, 2025. systems. which is contained in the Whistleblowing System.
b. The self-assessment policy to assess the performance Fulfilled The performance assessment policy for the Board of f. Public companies have in place a policy on provisions Fulfilled Avian Brands has in place a policy concerning the provision
of the Board of Commissioners is disclosed in the Commissioners is conducted through self-assessment of long-term incentives for the Board of Directors and of long-term incentives to employees as stated in the ESA
Annual Report of the public company. which has been disclosed in this Annual Report in the employees. Program.
description of the Performance Assessment of the Board of
Commissioners. V. Information Disclosure.
c. The Board of Commissioners has in place a policy Fulfilled The policy concerning the resignation of the Board of 8. Improving the Implementation of Information Disclosure.
related to the resignation of members of the Board of Commissioners is regulated in the Policy in Resignation
a. Public companies use information technology Fulfilled Avian Brands utilizes information technology, in addition to
Commissioners in the event of involvement in financial Procedure of the Board of Commissioners and the Board
more broadly, in addition to websites, as media for the website, in increasing the dissemination of information,
crimes. of Directors in the Event of Involvement in Financial Crime
information disclosure. including through Avian Brands’ Youtube, Instagram,
which was stipulated on December 27, 2021.
LinkedIn, and Facebook pages/profiles, as well as through
d. The Board of Commissioners or the Committee Fulfilled The succession policy for members of the Board of Directors platforms provided by regulators, including SPE OJK and
performing the nomination and remuneration is contained in the Succession Policy in the Nomination IDXnet.
functions formulates a succession policy in the Process for Members of the Board of Commissioners
b. The Annual Report of a public company discloses Fulfilled The Annual Report contains the ultimate beneficial owners
nomination process of members of the Board of and the Board of Directors which was stipulated on
the ultimate beneficial owner in the public company’s in Avian Brands’ share ownership.
Directors. December 27, 2021.
share ownership of at least 5% of shares, in addition to
III. Functions and Roles of the Board of Directors. the disclosure of the ultimate beneficial owner in the
share ownership of the public company through the
5. Strengthening the Membership and Composition of the Board of Directors. Main and Controlling Shareholders.
a. The determination of the number of members of Fulfilled The number of members of the Board of Directors is in
the Board of Directors takes into consideration the accordance with the provisions of Avian Brands’ Articles of
condition of the public company, and its effectiveness Association and has been adjusted to the complexity of the In addition to implementing GCG practices based on the Governance Guidelines for Public Companies, Avian Brands has also
in decision-making. business of Avian Brands. implemented GCG practices based on the principles and recommendations of the 2021 General Guidelines for Indonesian
b. The determination of the composition of members Fulfilled The nomination and appointment of the Board of Directors Corporate Governance (“Pedoman Umum Governansi Korporat Indonesia” or “PUGKI”). In general, GCG implementation based
of the Board of Directors considers the diversity of has taken into account the diversity of expertise, knowledge, on the 2021 PUGKI consists of 8 principles of good corporate governance which are categorized into the following 3 groups:
expertise, knowledge, and required experience. and experience relevant to the responsibilities carried out in
Avian Brands. 1. The first group of principles regulates the management and supervisory functions of the corporation, namely the Board of
Directors and the Board of Commissioners;
c. Members of the Board of Directors in charge of Fulfilled The Director in charge of accounting or finance has
accounting or finance have the expertise and/or experience in accounting and finance. 2. The second group of principles governs the processes and outputs produced by the Board of Directors and Board of
knowledge in accounting. Commissioners; and
6. Improving the Quality of the Implementation of the Duties and Responsibilities of the Board of Directors. 3. The third group of principles governs resource owners, who will primarily benefit from the implementation of corporate
a. The Board of Directors has in place a self-assessment Fulfilled The performance assessment policy for the Board of governance.
policy to assess the performance of the Board of Directors is regulated in the Performance Assessment Policy
Directors. for the Board of Directors and the Board of Commissioners, The implementation of each principle and recommendation of the 2021 PUGKI, including the steps taken to ensure the
which was stipulated on December 27, 2021, and last
updated on December 18, 2025. effectiveness of management and supervision, as well as how these principles are integrated into daily business processes,
has been conveyed by Avian Brands in this Annual Report in accordance with the discussion of each topic. In addition, analysis
b. The self-assessment policy to assess the performance Fulfilled The performance assessment policy for the Board of
of the Board of Directors is disclosed through the Directors is conducted through self-assessment which has of their fulfillments has also been communicated through Avian Brands website. By disclosing
Annual Report of the public company. been disclosed in this Annual Report in the description of the implementation of the 2021 PUGKI in the Annual Report and on the website, Avian Brands
the Performance Assessment of the Board of Directors.
ensures transparency and accountability to all stakeholders, and provides clear guidance on Avian
Brands’ commitment to good and sustainable governance in accordance with industry best practices.
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PT Avia Avian Tbk Social and Environmental Responsibility “For Avian Brands, social and environmental responsibility is not merely an obligation, but a long-term commitment to growing together with the community and safeguarding the sustainability of the planet. Through measurable and concrete actions, Avian Brands continuously strives to create a positive impact on the environment, empower communities, and strengthen the ethical foundation in every line of Avian Brands’ operation.” 200 2025 Annual Report 2025 Annual Report 201
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Responsibility
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Avian Brands’ Sustainability Commitment
Avian Brands places sustainability principles at the core of its business strategy, as part of its efforts to maintain a competitive
advantage in the national paint manufacturing industry. This commitment is reflected not only through the provision of
high-quality products but also through the strengthening of responsible and sustainable business practices across all
economic, social, environmental, and corporate governance aspects.
For Avian Brands, sustainability is not merely an option, but a strategic foundation that influences every operational decision
and corporate policy. Consequently, Avian Brands actively aligns the company’s direction and strategy with the Sustainable
Development Goals (“SDGs”) as well as global targets set by the governments and international institutions. Consistency in
implementing this strategy reinforces Avian Brands’ position as an innovative, adaptive, and responsible industry player in
the long term.
Avian Brands Sustainability Strategy
Avian Brands’ commitment to conducting sustainable business practices is realized through the formulation of the Avian
With the Avian Brands Sustainability Strategy framework, Avian Brands reaffirms that sustainability is not merely an additional
Brands Sustainability Strategy. This strategic guideline is built upon 4 (four) main pillars: the Product Pillar, Environment
initiative, but an integral part of its long-term business strategy.
Pillar, People & Community Pillar, and Governance Pillar. These four pillars do not stand alone; rather, they are designed as
a mutually complementary framework to ensure that sustainability is embedded in every operational aspect and strategic
decision-making process of Avian Brands.
Product Environment
Sustainability Performance Overview
Pillar Pillar
The sustainability performance overview summarizes Avian Brands’ key achievements across economic, environmental, and
social aspects in 2025, alongside comparisons with the previous 2 years. These achievements not only reflect Avian Brands’
Avian Brands consistency in implementing sustainability principles but also serve as a benchmark for the effectiveness of the sustainability
Sustainability strategies being executed.
Strategy
Avian Brands believes that sustainability performance is an integral part of long-term business success. Therefore, every
People & strategic step is evaluated using measurable and relevant sustainability indicators to ensure the resulting positive impacts are
Governance felt by all stakeholders and the surrounding environment.
Community
Pillar
Pillar
Sustainability of Economic Aspect
(in million Rupiah, unless otherwise stated)
Through the Product Pillar, Avian Brands asserts that quality, innovation, and sustainability must go hand in hand. Products Description 2025 2024 2023
are not only positioned as superior solutions for customers but also as a manifestation of the company’s responsibility to
provide added value that is safe, environmentally friendly, and relevant to modern market dynamics. In the Environment Pillar, Direct Economic Value Generated
the focus is directed towards efficient resource management, emission reduction, and environmental conservation. Avian Cash Received from Customers 7,925,974 7,229,124 6,850,984
Brands integrates various initiatives based on data, technology, and innovation to minimize environmental impact while Other Receipts 18,660 31,003 12,664
supporting the global agenda toward a low-carbon economy. Receipts of Finance Income 244,521 291,459 308,589
Proceeds from Disposal of Fixed Assets 9,710 11,156 14,094
The People & Community Pillar represents Avian Brands’ commitment to human and social development. This pillar emphasizes
employee capacity building, the implementation of occupational health and safety standards, and the empowerment of Total Direct Economic Value Generated 8,198,865 7,562,742 7,186,331
surrounding communities through inclusive and sustainable social programs. In this way, Avian Brands’ success runs in tandem Distributed Economic Value
with improvements in stakeholders’ quality of life. Meanwhile, the Governance Pillar strengthens the corporate governance Payments to Suppliers 5,140,099 4,625,552 4,341,998
foundation by emphasizing the principles of transparency, accountability, integrity, and business ethics. This pillar ensures Payments to Employees 913,818 779,291 707,405
that every strategic step of Avian Brands is executed in accordance with regulations and best practices in governance, while
Payment for Corporate Income Tax 397,073 380,615 482,000
maintaining the trust of investors, regulators, and the public.
202 2025 Annual Report 2025 Annual Report 203
Page 104
Social and Environmental
Responsibility
PT Avia Avian Tbk
(in million Rupiah, unless otherwise stated)
Description Unit 2025 2024 2023
Description 2025 2024 2023
Non-Renewable Materials Purchase Ton 90,063.17 69,528.10 70,887.41
Dividend Payment to Shareholders 1,320,024 1,348,142 1,362,978 Total Material Purchase Ton 207,499.09 159,117.58 143,790.61
Acquisition of Right-of-Use Assets 39,393 39,600 69,588 Emissions Management*)
Payment of Lease Liabilities 70,090 24,758 58,836 Total of Scope 1 and Scope 2 Emissions TonCO2e 9,736.20 11,282.59***) 11,343.51***)
Payment of Interest Expense 2,526 2,539 4,077 KgCO2e/Ton of
Intensity of Scope 1 and Scope 2 Emissions 17.21 23.34***) 24.55***)
Expenses for the Community 5,253 2,344 1,995 Product
Environmental Expenses 1,098 1,293 1,059 Total Scope 3 Emissions TonCO2e 60,764.16 63,056.67***) 0*)
OHS Investment Cost 1,389 1,307 886 Water Management
Total Distributed Economic Value 7,890,763 7,205,441 7,030,822 Total Water Usage Megaliter 186.11 137.54***) 137.77***)
Retained Economic Value 308,102 357,301 155,509 Megaliter/Ton
Water Intensity 0.0010 0.0007 0.0008
of Product
Reduction of Hazardous Waste Generation
Reuse of Industrial Wastewater Ton 4,261.09 2,650.14 1,820.24
Description Unit 2025 2024 2023
Reuse of Washing Solvent Ton 235.84 151.19 166.27
Operational Performance Hazardous Waste (liquid and solid managed by third parties) Ton 709.57 733.94 886.77
Manufacturing Volumes Metric Tons 227,265.75 197,339 180,540 Household Type Waste (Managed by Third Parties) Ton 97.23 96.32 ***)
0****)
Environmentally Friendly Products Discharge Water Megaliter 5.47 5.18***) 3.83
Product Brand 40 34 29
Singapore Green Label Certified Product Categories
Biodiversity Preservation **)
Product or Service Quantity Product Brand 124 105 96
Total Trees Planted Trees 26,868 20,794 14,880
Local Suppliers Engagement
Type of Trees Planted Type 153 169 94
Local Suppliers
Carbon Sequestration Value KgCO2e 15,106,797 4,835,028 1,200,987
Number of
Total Local Suppliers 237 217 219
Companies Catatan:
*)
Inventory of energy use outside the organization and Scope 3 GHG emissions has only been conducted since 2024, with the scope of measurement limited to
Percentage of Local Supplier Engagement by Entity compared to Categories 4, 9, and 11.
% 75.24 76.14 77.94
Total Suppliers **)
Data represents accumulated trees planted over the years by Avian Brands around the locations of AVIA, TKTW, and the slopes of Mount Arjuno.
Local Employees
***)
Data restated.
****)
Data under inventory process.
Total Local Employee People 8,420*) 8,387*) 7,577*)
Percentage of Local Labor Involvement in Avian Brands
% 90.19*) 90.03*) 89.38*)
Operational Activities
Sustainability of Social Aspect
Notes:
*)
AVIA, TKTW, and TKBI.
Description Unit 2025*) 2024*) 2023*)
Community Development and Empowerment (Pengembangan dan Pemberdayaan Masyarakat or “PPM”)**)
Sustainability of Environmental Aspect Number of PPM Programs Total Program 264 195 98
Cost of PPM Programs Million Rupiah 5,253 2,344 1,995
Description Unit 2025 2024 2023 Manpower Management
Energy Efficiency Total Employees (Including Outsourcing) People 9,330 9,322 8,483
Energy Consumption Within the Organization GJ 100,722.08 101,477.45 99,930.92 Total Female Employees (Including Outsourcing) People 2,170 2,109 1,724
Energy Consumption Outside the Organization GJ 124,261.95 119,167.55 0*) Number of Participants in Competence Development People 7,307 7,632 6,173
GJ/Ton of Lost Time Injury Rate Rate 1.66 1.57 2.16
0.14 0.17 0.18
Product Total Recordable Injury Rate Rate 2.59 2.05 2.51***)
kWh/Ton of
38.21 46.99***) 49.57***) Notes:
Energy Intensity Product *)
AVIA, TKTW, and TKBI;
Thousand **)
AVIA; and
Rupiah/Ton of 30,931.00 36,190.55***) 37,775.99 ***)
Data restated.
Product
GJ/Ton of A complete description of Social and Environmental Responsibility policies and programs is discussed more comprehensively
Energy Intensity Efficiency 0.03 0.01 0.01
Product in our Sustainability Report, which is presented separately from this Annual Report.
Materials Used in Paint Production
Renewable Materials Purchase Ton 117,435.92 89,589.48 72,903.20
204 2025 Annual Report 2025 Annual Report 205
Page 105
PT Avia Avian Tbk
Annual Report Responsibility
Statement of Members of the Board of Commissioners and the Board of Directors
on the Responsibility for the 2025 Annual Report of
PT Avia Avian Tbk
We, the undersigned, hereby declare that all information in the 2025 Annual Report of PT Avia Avian Tbk ( “Avian Brands”)
has been completely presented and we shall be fully responsible for the correctness of contents
in Avian Brands’ Annual Report.
This statement is hereby made in all truthfulness.
Surabaya, March 16, 2026
The Board of Commissioners,
This page is intentionally left blank.
Hermanto Tanoko
President Commissioner
Mohammad Noor Rachman Soejoeti Oscar Christian Maria Jozef Wezenbeek
Independent Commissioner Independent Commissioner
The Board of Directors,
Wijono Tanoko Ruslan Tanoko
President Director Vice President Director
Robert Christian Tanoko Kurnia Hadi Sinanto Angelica Tanisia Jozar
Director Director Director
2025 Annual Report
Page 106
This page is intentionally left blank.
Page 107
PT AVIA AVIAN TBK
DAN ENTITAS ANAKNYA/
AND ITS SUBSIDIARIES
LAPORAN KEUANGAN KONSOLIDASIAN
TANGGAL 31 DESEMBER 2025
SERTA UNTUK TAHUN YANG BERAKHIR
PADA TANGGAL TERSEBUT
DAN LAPORAN AUDITOR INDEPENDEN
CONSOLIDATED FINANCIAL STATEMENTS
AS OF DECEMBER 31, 2025
AND FOR THE YEAR THEN ENDED
AND INDEPENDENT AUDITOR’S REPORT
Page 108
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN TBK
DAN ENTITAS ANAKNYA PT AVIA AVIAN TBK
LAPORAN KEUANGAN KONSOLIDASIAN AND ITS SUBSIDIARIES
TANGGAL 31 DESEMBER 2025 CONSOLIDATED FINANCIAL STATEMENTS
SERTA UNTUK TAHUN YANG BERAKHIR AS OF DECEMBER 31, 2025
PADA TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
DAN LAPORAN AUDITOR INDEPENDEN WITH INDEPENDENT AUDITOR’S REPORT
Halaman/Pages
Daftar isi Table of Contents
Surat Pernyataan Direksi Directors’ Statement Letter
Laporan Auditor Independen Independent Auditor’s Report
Laporan Posisi Keuangan Konsolidasian 1-3 Consolidated Statement of Financial Position
Laporan Laba Rugi dan Penghasilan Consolidated Statement of Profit or Loss and Other
Komprehensif Lain Konsolidasian 4-5 Comprehensive Income
Laporan Perubahan Ekuitas Konsolidasian 6 Consolidated Statement of Changes in Equity
Laporan Arus Kas Konsolidasian 7-8 Consolidated Statement of Cash Flows
Catatan atas Laporan Keuangan Konsolidasian 9 - 101 Notes to the Consolidated Financial Statements
Page 109
Page 110
The original report included herein is in the Indonesian Language.
Laporan Auditor Independen Independent Auditor’s Report
Laporan No. 00055/2.0851/AU.1/04/1114-1/1/II/2026 Report No. 00055/2.0851/AU.1/04/1114-1/1/II/2026
Pemegang Saham, Dewan Komisaris dan Direksi The Shareholders, Boards of Commissioners and
Directors
PT AVIA AVIAN Tbk PT AVIA AVIAN Tbk
Opini Opinion
Kami telah mengaudit laporan keuangan konsolidasian We have audited the consolidated financial statements
PT Avia Avian Tbk dan Entitas Anaknya (“Grup”), yang of PT Avia Avian Tbk and its Subsidiaries (the
terdiri dari laporan posisi keuangan konsolidasian “Group”), which comprise the consolidated statement
tanggal 31 Desember 2025, serta laporan laba rugi dan of financial position as of December 31, 2025, and the
penghasilan komprehensif lain konsolidasian, laporan consolidated statements of profit or loss and other
perubahan ekuitas konsolidasian, dan laporan arus kas comprehensive income, consolidated statement of
konsolidasian untuk tahun yang berakhir pada tanggal changes in equity and consolidated statement of cash
tersebut, serta catatan atas laporan keuangan flows for the year then ended, and notes to the
konsolidasian, termasuk informasi kebijakan akuntansi consolidated financial statements, including material
material. accounting policy information.
Menurut opini kami, laporan keuangan konsolidasian In our opinion, the accompanying consolidated financial
terlampir menyajikan secara wajar, dalam semua hal statements present fairly, in all material respects, the
yang material, posisi keuangan konsolidasian Grup consolidated financial position of the Group as of
tanggal 31 Desember 2025, serta kinerja keuangan December 31, 2025, and its consolidated financial
konsolidasian dan arus kas konsolidasiannya untuk performance and its consolidated cash flows for the
tahun yang berakhir pada tanggal tersebut, sesuai year then ended, in accordance with Indonesian
dengan Standar Akuntansi Keuangan di Indonesia. Financial Accounting Standards.
Basis Opini Basis for Opinion
Kami melaksanakan audit kami berdasarkan Standar We conducted our audit in accordance with Standards
Audit yang ditetapkan oleh Institut Akuntan Publik on Auditing established by the Indonesian Institute of
Indonesia. Tanggung jawab kami menurut standar Certified Public Accountants. Our responsibilities under
tersebut diuraikan lebih lanjut dalam paragraf Tanggung those standards are further described in the Auditor’s
Jawab Auditor terhadap Audit atas Laporan Keuangan Responsibilities for the Audit of the Consolidated
Konsolidasian pada laporan kami. Kami independen Financial Statements paragraph of our report. We are
terhadap Grup berdasarkan ketentuan etika yang independent of the Group in accordance with the
relevan dalam audit kami atas laporan keuangan ethical requirements that are relevant to our audit of the
konsolidasian di Indonesia, dan kami telah memenuhi consolidated financial statements in Indonesia, and we
tanggung jawab etika lainnya berdasarkan ketentuan have fulfilled our other ethical responsibilities in
tersebut. Kami yakin bahwa bukti audit yang telah kami accordance with these requirements. We believe that
peroleh adalah cukup dan tepat untuk menyediakan the audit evidence we have obtained is sufficient and
suatu basis bagi opini audit kami. appropriate to provide a basis for our opinion.
Hal Audit Utama Key Audit Matters
Hal audit utama adalah hal-hal yang, menurut Key audit matters are those matters that, in our
pertimbangan profesional kami, merupakan hal yang professional judgment, were of most significance in our
paling signifikan dalam audit kami atas laporan audit of the consolidated financial statements of the
keuangan konsolidasian periode kini. Hal-hal tersebut current period. These matters were addressed in the
disampaikan dalam konteks audit kami atas laporan context of our audit of the consolidated financial
keuangan konsolidasian secara keseluruhan, dan statements as a whole, and in forming our opinion
dalam merumuskan opini kami atas laporan keuangan thereon, and we do not provide a separate opinion on
konsolidasian terkait, kami tidak menyatakan suatu these matters.
opini terpisah atas hal audit utama tersebut.
Page 111
The original report included herein is in the Indonesian Language.
Hal Audit Utama (lanjutan) Key Audit Matters (continued)
Estimasi atas Beban Akrual Pemasaran dan Promosi Estimates for Accrued Marketing and Promotion
Expenses
Lihat Catatan 3t “Informasi Kebijakan Akuntansi yang Refer to Note 3t “Material Accounting Policy
Material - Akrual dan provisi”, Catatan 3v “Informasi Information - Accruals and provisions”, Note 3v
Kebijakan Akuntansi yang Material - Pengakuan “Material Accounting Policy Information - Revenue
pendapatan, Catatan 4 “Pertimbangan Akuntansi recognition, Note 4 “Critical Accounting Judgments and
Penting dan Sumber Utama Ketidakpastian Estimasi”, Key Sources of Estimation Uncertainty”, and Note 16
dan Catatan 16 “Beban Akrual” atas laporan keuangan “Accrued Expenses” to the consolidated financial
konsolidasian. statements.
Pada tanggal 31 Desember 2025, Grup mencatat As of December 31, 2025, the Group recorded accrued
beban akrual atas pemasaran dan promosi sebesar marketing and promotion expenses amounting to
Rp 212.981 juta pada laporan posisi keuangan Rp 212,981 million in the consolidated statement of
konsolidasian. Akrual tersebut adalah sehubungan financial position. The accrual relates to sales
dengan berbagai skema tetap dan variabel atas promotion schemes offered to customers, consisting of
promosi penjualan yang diberikan kepada pelanggan. both fixed and variable incentive programs.
Grup menggunakan pertimbangan yang signifikan dan The Group exercised significant judgment and
terdapat ketidakpastian estimasi dalam menentukan estimation uncertainty to estimate the amount of
jumlah akrual beban pemasaran dan promosi marketing and promotion accruals as of
per 31 Desember 2025. Asumsi-asumsi utama dalam December 31, 2025. The key assumptions in
penentuan beban akrual pemasaran dan promosi determining the accrued marketing and promotion
adalah harga barang promosi, tingkat pencapaian expenses were the price of promotional goods,
penjualan yang diharapkan dan tren realisasi historis expected sales achievement levels, and historical
dari program promosi penjualan sebelumnya. Terdapat realization trends of prior sales promotion programs.
ketidakpastian estimasi yang muncul sehubungan There is estimation uncertainty associated with the
dengan harga barang promosi dan tingkat pencapaian price of promotional goods and the level of actual sales
penjualan aktual, yang dapat berbeda dari estimasi achievement, which may differ from management’s
manajemen dan berpotensi mengakibatkan estimates and could result in material adjustments to
penyesuaian yang material terhadap saldo akrual. the accrued balance.
Kami menetapkan area ini sebagai hal audit utama We determined this area to be a key audit matter due
dikarenakan adanya risiko bawaan terkait to the inherent risk of estimation uncertainty and
ketidakpastian estimasi serta pertimbangan signifikan significant management judgment involved in
manajemen dalam menentukan jumlah beban akrual determining the amount of the accrued marketing and
pemasaran dan promosi pada akhir tahun. promotion expenses at the end of the year.
Bagaimana audit kami merespons Hal Audit Utama How our audit addressed the Key Audit Matters
• Kami memperoleh pemahaman tentang • We obtained an understanding of the
metodologi yang digunakan oleh Grup untuk methodologies used by the Group to estimate the
melakukan estimasi atas beban akrual pemasaran accrual for marketing and promotion expenses.
dan promosi.
• Kami memperoleh daftar rincian pemasaran dan • We obtained the marketing and promotion listing
promosi dan menguji kelengkapan serta and tested the completeness and accuracy of
keakuratan input data yang mendasarinya dan underlying data inputs and evaluated the
mengevaluasi kewajaran asumsi-asumsi utama reasonableness of key assumptions used in the
yang digunakan dalam perhitungan akrual. computation of the accrual.
• Kami mengevaluasi perhitungan Grup atas beban • We evaluated the Group’s calculation of accrued
akrual pemasaran dan promosi dengan menguji, marketing and promotion expenses by assessing,
secara sampel, kecukupan saldo akrual dan on a sampling basis, the adequacy of accrued
keakuratan perhitungan secara matematis. balances and the mathematical accuracy of the
calculation.
Page 112
The original report included herein is in the Indonesian Language.
Hal Audit Utama (lanjutan) Key Audit Matters (continued)
Bagaimana audit kami merespons Hal Audit Utama How our audit addressed the Key Audit Matters
(lanjutan) (continued)
• Kami menguji realisasi beban akrual pemasaran • We tested the realization of the accrued marketing
dan promosi yang dibuat pada tahun sebelumnya and promotion expenses made in prior year and
dan tahun berjalan, dengan membandingkan during the year, comparing actual settlements to
penyelesaian aktual dengan akrual yang telah previously recorded accruals and inspecting
dicatat sebelumnya serta memeriksa ke dokumen supporting documentation on a sample basis.
pendukung berdasarkan pengujian secara
sampel.
• Kami mengevaluasi klasifikasi beban pemasaran • We evaluated the classification of marketing and
dan promosi dalam laporan laba rugi dan promotion expenses in the consolidated statement
penghasilan komprehensif lain konsolidasian of profit or loss and other comprehensive income
untuk setiap skema pemasaran dan promosi, for each of the marketing and promotion schemes,
serta menilai apakah pengungkapan terkait telah and assessed whether related disclosures were
memadai dan sesuai dengan standar pelaporan adequate and in accordance with the applicable
keuangan yang berlaku. financial reporting standards.
Informasi Lain Other Information
Manajemen bertanggung jawab atas informasi lain. Management is responsible for the other information.
Informasi lain terdiri dari informasi yang tercantum The other information comprises the information
dalam laporan tahunan pada tanggal included in the annual report as of December 31, 2025
31 Desember 2025 dan untuk tahun yang berakhir pada and for the year then ended, but does not include the
tanggal tersebut, tetapi tidak mencantumkan laporan consolidated financial statements and our auditor’s
keuangan konsolidasian dan laporan auditor kami. report thereon. The annual report is expected to be
Laporan tahunan diharapkan akan tersedia bagi kami made available to us after the date of this auditor's
setelah tanggal laporan auditor ini. report.
Opini kami atas laporan keuangan konsolidasian tidak Our opinion on the consolidated financial statements
mencakup informasi lain, dan oleh karena itu, kami does not cover the other information, and accordingly,
tidak menyatakan bentuk keyakinan apapun atas we will not express any form of assurance conclusion
informasi lain tersebut. thereon.
Sehubungan dengan audit kami atas laporan keuangan In connection with our audit of the consolidated
konsolidasian, tanggung jawab kami adalah untuk financial statements, our responsibility is to read the
membaca informasi lain yang teridentifikasi di atas, jika other information identified above when it becomes
tersedia dan, dalam melaksanakannya, available and, in doing so, consider whether the other
mempertimbangkan apakah informasi lain mengandung information is materially inconsistent with the
ketidakkonsistensian material dengan laporan consolidated financial statements or our knowledge
keuangan konsolidasian atau pemahaman yang kami obtained in the audit, or otherwise appears to be
peroleh selama audit, atau mengandung kesalahan materially misstated.
penyajian material.
Ketika kami membaca laporan tahunan, jika kami When we read the annual report, if we conclude that
menyimpulkan bahwa terdapat suatu kesalahan there is a material misstatement therein, we are
penyajian material di dalamnya, kami diharuskan untuk required to communicate the matter to those charged
mengomunikasikan hal tersebut kepada pihak yang with governance and take appropriate actions in
bertanggung jawab atas tata kelola dan mengambil accordance with Standards on Auditing established by
tindakan tepat berdasarkan Standar Audit yang the Indonesian Institute of Certified Public Accountants.
ditetapkan oleh Institut Akuntan Publik Indonesia.
Page 113
The original report included herein is in the Indonesian Language. Tanggung Jawab Manajemen dan Pihak yang Responsibilities of Management and Those Bertanggung Jawab atas Tata Kelola terhadap Charged with Governance for the Consolidated Laporan Keuangan Konsolidasian Financial Statements Manajemen bertanggung jawab atas penyusunan dan Management is responsible for the preparation and fair penyajian wajar laporan keuangan konsolidasian presentation of the consolidated financial statements in tersebut sesuai dengan Standar Akuntansi Keuangan di accordance with Indonesian Financial Accounting Indonesia, dan atas pengendalian internal yang Standards, and for such internal control as dianggap perlu oleh manajemen untuk memungkinkan management determines is necessary to enable the penyusunan laporan keuangan konsolidasian yang preparation of consolidated financial statements that bebas dari kesalahan penyajian material, baik yang are free from material misstatement, whether due to disebabkan oleh kecurangan maupun kesalahan. fraud or error. Dalam penyusunan laporan keuangan konsolidasian, In preparing the consolidated financial statements, manajemen bertanggung jawab untuk menilai management is responsible for assessing the Group’s kemampuan Grup dalam mempertahankan ability to continue as a going concern, disclosing, as kelangsungan usahanya, mengungkapkan, sesuai applicable, matters related to going concern, and using dengan kondisinya, hal-hal yang berkaitan dengan the going concern basis of accounting, unless kelangsungan usaha, dan menggunakan basis management either intends to liquidate the Group or to akuntansi kelangsungan usaha, kecuali manajemen cease its operations, or has no realistic alternative but memiliki intensi untuk melikuidasi Grup atau to do so. menghentikan operasinya atau tidak memiliki alternatif yang realistis selain melaksanakannya. Pihak yang bertanggung jawab atas tata kelola Those charged with governance are responsible for bertanggung jawab untuk mengawasi proses pelaporan overseeing the Group’s financial reporting process. keuangan Grup. Tanggung Jawab Auditor terhadap Audit atas Auditor’s Responsibilities for the Audit of the Laporan Keuangan Konsolidasian Consolidated Financial Statements Tujuan kami adalah untuk memperoleh keyakinan Our objectives are to obtain reasonable assurance memadai tentang apakah laporan keuangan about whether the consolidated financial statements as konsolidasian secara keseluruhan bebas dari kesalahan a whole are free from material misstatement, whether penyajian material, baik yang disebabkan oleh due to fraud or error, and to issue an auditor’s report kecurangan maupun kesalahan, dan untuk menerbitkan that includes our opinion. Reasonable assurance is a laporan auditor yang mencakup opini kami. Keyakinan high level of assurance, but is not a guarantee that an memadai merupakan suatu tingkat keyakinan tinggi, audit conducted in accordance with Standards on namun bukan merupakan suatu jaminan bahwa audit Auditing will always detect a material misstatement yang dilaksanakan berdasarkan Standar Audit akan when it exists. Misstatements can arise from fraud or selalu mendeteksi kesalahan penyajian material ketika error and are considered material if, individually or in hal tersebut ada. Kesalahan penyajian dapat the aggregate, they could reasonably be expected to disebabkan oleh kecurangan maupun kesalahan dan influence the economic decisions of users taken on the dianggap material jika, baik secara individual maupun basis of these consolidated financial statements. secara agregat, dapat diekspektasikan secara wajar akan memengaruhi keputusan ekonomi yang diambil oleh pengguna berdasarkan laporan keuangan konsolidasian tersebut.
Page 114
The original report included herein is in the Indonesian Language.
Tanggung Jawab Auditor terhadap Audit atas Auditor’s Responsibilities for the Audit of the
Laporan Keuangan Konsolidasian (lanjutan) Consolidated Financial Statements (continued)
Sebagai bagian dari suatu audit berdasarkan Standar As part of an audit in accordance with Standards on
Audit, kami menerapkan pertimbangan profesional dan Auditing, we exercise professional judgment and
mempertahankan skeptisisme profesional selama audit. maintain professional skepticism throughout the audit.
Kami juga: We also:
• Mengidentifikasi dan menilai risiko kesalahan • Identify and assess the risks of material
penyajian material dalam laporan keuangan misstatement of the consolidated financial
konsolidasian, baik yang disebabkan oleh statements, whether due to fraud or error, design
kecurangan maupun kesalahan, mendesain dan and perform audit procedures responsive to those
melaksanakan prosedur audit yang responsif risks, and obtain audit evidence that is sufficient
terhadap risiko tersebut, serta memperoleh bukti and appropriate to provide a basis for our opinion.
audit yang cukup dan tepat untuk menyediakan The risk of not detecting a material misstatement
basis bagi opini kami. Risiko tidak terdeteksinya resulting from fraud is higher than for one resulting
kesalahan penyajian material yang disebabkan from error, as fraud may involve collusion, forgery,
oleh kecurangan lebih tinggi dari yang disebabkan intentional omissions, misrepresentations, or the
oleh kesalahan, karena kecurangan dapat override of internal control.
melibatkan kolusi, pemalsuan, penghilangan
secara sengaja, pernyataan salah, atau
pengabaian pengendalian internal.
• Memperoleh suatu pemahaman tentang • Obtain an understanding of internal control relevant
pengendalian internal yang relevan dengan audit to the audit in order to design audit procedures that
untuk mendesain prosedur audit yang tepat sesuai are appropriate in the circumstances, but not for the
dengan kondisinya, tetapi bukan untuk tujuan purpose of expressing an opinion on the
menyatakan opini atas keefektivitasan effectiveness of the Group’s internal control.
pengendalian internal Grup.
• Mengevaluasi ketepatan kebijakan akuntansi yang • Evaluate the appropriateness of accounting policies
digunakan serta kewajaran estimasi akuntansi dan used and the reasonableness of accounting
pengungkapan terkait yang dibuat oleh estimates and related disclosures made by
manajemen. management.
• Menyimpulkan ketepatan penggunaan basis • Conclude on the appropriateness of management's
akuntansi kelangsungan usaha oleh manajemen use of the going concern basis of accounting and,
dan, berdasarkan bukti audit yang diperoleh, based on the audit evidence obtained, whether a
apakah terdapat suatu ketidakpastian material material uncertainty exists related to events or
yang terkait dengan peristiwa atau kondisi yang conditions that may cast significant doubt on the
dapat menyebabkan keraguan signifikan atas Group’s ability to continue as a going concern. If we
kemampuan Grup untuk mempertahankan conclude that a material uncertainty exists, we are
kelangsungan usahanya. Ketika kami required to draw attention in our auditor's report to
menyimpulkan bahwa terdapat suatu the related disclosures in the consolidated financial
ketidakpastian material, kami diharuskan untuk statements or, if such disclosures are inadequate,
menarik perhatian dalam laporan auditor kami ke to modify our opinion. Our conclusions are based
pengungkapan terkait dalam laporan keuangan on the audit evidence obtained up to the date of our
konsolidasian atau, jika pengungkapan tersebut auditor's report. However, future events or
tidak memadai, harus menentukan apakah perlu conditions may cause the Group to cease to
untuk memodifikasi opini kami. Kesimpulan kami continue as a going concern.
didasarkan pada bukti audit yang diperoleh hingga
tanggal laporan auditor kami. Namun, peristiwa
atau kondisi masa depan dapat menyebabkan
Grup tidak dapat mempertahankan kelangsungan
usaha.
Page 115
The original report included herein is in the Indonesian Language.
Tanggung Jawab Auditor terhadap Audit atas Auditor’s Responsibilities for the Audit of the
Laporan Keuangan Konsolidasian (lanjutan) Consolidated Financial Statements (continued)
Sebagai bagian dari suatu audit berdasarkan Standar As part of an audit in accordance with Standards on
Audit, kami menerapkan pertimbangan profesional dan Auditing, we exercise professional judgment and
mempertahankan skeptisisme profesional selama audit. maintain professional skepticism throughout the audit.
Kami juga (lanjutan): We also (continued):
• Mengevaluasi penyajian, struktur, dan isi laporan • Evaluate the overall presentation, structure and
keuangan konsolidasian secara keseluruhan, content of the consolidated financial statements,
termasuk pengungkapannya, dan apakah laporan including the disclosures, and whether the
keuangan konsolidasian mencerminkan transaksi consolidated financial statements represent the
dan peristiwa yang mendasarinya dengan suatu underlying transactions and events in a manner that
cara yang mencapai penyajian wajar. achieves fair presentation.
• Memperoleh bukti audit yang cukup dan tepat • Obtain sufficient appropriate audit evidence
terkait informasi keuangan entitas atau aktivitas regarding the financial information of the entities or
bisnis dalam Grup untuk menyatakan opini atas business activities within the Group to express an
laporan keuangan konsolidasian. Kami opinion on the consolidated financial statements.
bertanggung jawab atas arahan, supervisi, dan We are responsible for the direction, supervision
pelaksanaan audit Grup. Kami tetap bertanggung and performance of the Group audit. We remain
jawab sepenuhnya atas opini audit kami. solely responsible for our audit opinion.
Kami mengomunikasikan kepada pihak yang We communicate with those charged with governance
bertanggung jawab atas tata kelola mengenai, antara regarding, among other matters, the planned scope
lain, ruang lingkup dan saat yang direncanakan atas and timing of the audit and significant audit findings,
audit, serta temuan audit signifikan, termasuk setiap including any significant deficiencies in internal control
defisiensi signifikan dalam pengendalian internal yang that we identify during our audit.
teridentifikasi oleh kami selama audit.
Kami juga memberikan suatu pernyataan kepada pihak We also provide those charged with governance with a
yang bertanggung jawab atas tata kelola bahwa kami statement that we have complied with relevant ethical
telah mematuhi ketentuan etika yang relevan mengenai requirements regarding independence, and to
independensi, dan mengomunikasikan seluruh communicate with them all relationships and other
hubungan, serta hal-hal lain yang dianggap secara matters that may reasonably be thought to bear on our
wajar berpengaruh terhadap independensi kami, dan, independence, and where applicable, related
jika relevan, pengamanan terkait. safeguards.
Page 116
The original report included herein is in the Indonesian Language.
Tanggung Jawab Auditor terhadap Audit atas Auditor’s Responsibilities for the Audit of the
Laporan Keuangan Konsolidasian (lanjutan) Consolidated Financial Statements (continued)
Dari hal-hal yang dikomunikasikan kepada pihak yang From the matters communicated with those charged
bertanggung jawab atas tata kelola, kami menentukan with governance, we determine those matters that
hal-hal tersebut yang paling signifikan dalam audit atas were of most significance in the audit of the
laporan keuangan konsolidasian periode kini dan oleh consolidated financial statements of the current period
karenanya menjadi hal audit utama. Kami menguraikan and are therefore the key audit matters. We describe
hal audit utama dalam laporan auditor kami, kecuali these matters in our auditor’s report unless law or
peraturan perundang-undangan melarang regulation precludes public disclosure about the matter
pengungkapan publik tentang hal tersebut atau ketika, or when, in extremely rare circumstances, we
dalam kondisi yang sangat jarang terjadi, kami determine that a matter should not be communicated in
menentukan bahwa suatu hal tidak boleh our report because the adverse consequences of doing
dikomunikasikan dalam laporan kami karena so would reasonably be expected to outweigh the
konsekuensi merugikan dari mengomunikasikan hal public interest benefits of such communication.
tersebut akan diekspektasikan secara wajar melebihi
manfaat kepentingan publik atas komunikasi tersebut.
Kantor Akuntan Publik/Registered Public Accountants
TERAMIHARDJA, PRADHONO & CHANDRA
24 Februari 2026 February 24, 2026
Page 117
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN POSISI KEUANGAN CONSOLIDATED STATEMENT OF
KONSOLIDASIAN FINANCIAL POSITION
Tanggal 31 Desember 2025 As of December 31, 2025
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
Catatan/
Notes 2025 2024
ASET ASSETS
ASET LANCAR CURRENT ASSETS
Kas dan setara kas 5 1,654,810 2,329,491 Cash and cash equivalents
Kas di bank dan deposito Restricted cash in bank
yang dibatasi penggunaannya - 3,000 and time deposits
Investasi jangka pendek 10 2,570,080 2,952,900 Short-term investments
Piutang usaha Trade receivables
Pihak berelasi 6, 7 8,047 16,319 Related parties
Pihak ketiga 6 1,622,216 1,445,418 Third parties
Piutang lain-lain Other receivables
Pihak berelasi 7, 8 104,759 83,283 Related parties
Pihak ketiga 8 48,314 45,420 Third parties
Persediaan 9 1,679,578 1,558,203 Inventories
Hak retur aset 22,118 19,333 Right of return assets
Uang muka pemasok 5,505 5,791 Advances to suppliers
Beban dibayar dimuka 7 11,009 14,456 Prepaid expenses
Pajak dibayar dimuka 20 95,408 19,748 Prepaid taxes
Jumlah Aset Lancar 7,821,844 8,493,362 Total Current Assets
ASET TIDAK LANCAR NON-CURRENT ASSETS
Properti investasi 12 289,864 290,510 Investment properties
Aset tetap 13 2,255,297 1,930,297 Fixed assets
Aset hak-guna 17 185,630 180,949 Right-of-use assets
Aset takberwujud 31,235 28,734 Intangible assets
Investasi jangka panjang 11 371,958 - Long-term investments
Investasi pada ventura bersama 14 20,558 19,976 Investment in joint venture
Aset pajak tangguhan 20 59,222 36,144 Deferred tax assets
Estimated claims for
Taksiran klaim pajak penghasilan 20 11,382 29,432 income tax refund
Aset tidak lancar lainnya 37,389 51,571 Other non-current assets
Jumlah Aset Tidak Lancar 3,262,535 2,567,613 Total Non-Current Assets
JUMLAH ASET 11,084,379 11,060,975 TOTAL ASSETS
Catatan atas Laporan Keuangan Konsolidasian terlampir merupakan bagian yang The accompanying Notes to the Consolidated Financial Statements
tidak terpisahkan dari laporan keuangan konsolidasian form an integral part of these consolidated financial statements
1
Page 118
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN POSISI KEUANGAN CONSOLIDATED STATEMENT OF
KONSOLIDASIAN (lanjutan) FINANCIAL POSITION (continued)
Tanggal 31 Desember 2025 As of December 31, 2025
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
Catatan/
Notes 2025 2024
LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY
LIABILITAS LIABILITIES
LIABILITAS JANGKA PENDEK CURRENT LIABILITIES
Pinjaman bank jangka pendek 18 7,187 9,189 Short-term bank loans
Utang usaha Trade payables
Pihak berelasi 7, 15 355,641 362,941 Related parties
Pihak ketiga 15 428,566 424,760 Third parties
Utang lain-lain Other payables
Pihak berelasi 7 710 487 Related parties
Pihak ketiga 29,869 24,136 Third parties
Pendapatan diterima dimuka Unearned revenue
Pihak berelasi 7 1,606 1,611 Related parties
Pihak ketiga 545 599 Third parties
Beban akrual 16 293,400 252,661 Accrued expenses
Imbalan kerja jangka pendek 19 115,086 108,618 Short-term employee benefits
Utang pajak 20 130,885 72,123 Taxes payable
Uang jaminan pelanggan - 3,000 Customer guarantee
Provisi retur penjualan 29,514 26,683 Provision for sales return
Liabilitas sewa - bagian jangka Lease liabilities
pendek 17 64,399 64,777 - current portion
Jumlah Liabilitas Jangka Pendek 1,457,408 1,351,585 Total Current Liabilities
LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIES
Liabilitas sewa - bagian jangka Lease liabilities - non-current
panjang 17 14,622 19,416 portion
Liabilitas imbalan kerja 19 72,125 58,094 Employee benefits liability
Jumlah Liabilitas Jangka Panjang 86,747 77,510 Total Non-Current Liabilities
JUMLAH LIABILITAS 1,544,155 1,429,095 TOTAL LIABILITIES
Catatan atas Laporan Keuangan Konsolidasian terlampir merupakan bagian yang The accompanying Notes to the Consolidated Financial Statements
tidak terpisahkan dari laporan keuangan konsolidasian form an integral part of these consolidated financial statements
2
Page 119
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN POSISI KEUANGAN CONSOLIDATED STATEMENT OF
KONSOLIDASIAN (lanjutan) FINANCIAL POSITION (continued)
Tanggal 31 Desember 2025 As of December 31, 2025
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
Catatan/
Notes 2025 2024
EKUITAS EQUITY
Ekuitas yang Dapat Equity Attributable to the
Diatribusikan kepada Equity Holders of the
Pemilik Entitas Induk Parent Company
Modal saham - nilai nominal Share capital - par value Rp 10
Rp 10 (nilai penuh) per saham (full amount) per share
Modal dasar - 200.000.000.000 Authorised - 200,000,000,000
saham shares
Modal ditempatkan dan disetor Issued and fully paid -
penuh - 61.953.555.600 saham 21 619,536 619,536 61,953,555,600 shares
Tambahan modal disetor 22 7,793,218 7,793,218 Additional paid-in capital
Saham treasuri 21 (1,219,894) (574,552) Treasury shares
Penghasilan (rugi) komprehensif lain: Other comprehensive income (loss):
Revaluation surplus of
Surplus revaluasi aset tetap 240,755 229,406 fixed assets
Bagian penghasilan komprehensif Share of other comprehensive
lain dari ventura bersama 85 85 income of joint venture
Perubahan nilai wajar atas Changes in fair
investasi pada surat value of investment
utang negara 10 17,624 (103,357) in government bonds
Keuntungan pengukuran kembali Remeasurement gain on
liabilitas imbalan kerja 7,242 9,880 employee benefits liability
Saldo laba Retained earnings
Telah ditentukan penggunaannya 23 124,000 124,000 Appropriated
Belum ditentukan penggunaannya 1,954,615 1,527,177 Unappropriated
Sub-Jumlah 9,537,181 9,625,393 Sub-Total
Kepentingan Non-Pengendali 3,043 6,487 Non-Controlling Interests
JUMLAH EKUITAS 9,540,224 9,631,880 TOTAL EQUITY
JUMLAH LIABILITAS DAN EKUITAS 11,084,379 11,060,975 TOTAL LIABILlTlES AND EQUITY
Catatan atas Laporan Keuangan Konsolidasian terlampir merupakan bagian yang The accompanying Notes to the Consolidated Financial Statements
tidak terpisahkan dari laporan keuangan konsolidasian form an integral part of these consolidated financial statements
3
Page 120
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN LABA RUGI CONSOLIDATED STATEMENT OF
DAN PENGHASILAN KOMPREHENSIF LAIN PROFIT OR LOSS AND
KONSOLIDASIAN OTHER COMPREHENSIVE INCOME
Untuk Tahun yang Berakhir Pada Tanggal For the Year Ended
31 Desember 2025 December 31, 2025
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
Catatan/
Notes 2025 2024
PENJUALAN NETO 26 8,123,685 7,471,356 NET REVENUES
BEBAN POKOK PENJUALAN 27 (4,545,429) (4,130,606) COST OF GOODS SOLD
LABA BRUTO 3,578,256 3,340,750 GROSS PROFIT
BEBAN USAHA OPERATING EXPENSES
Beban penjualan 28 (1,378,266) (1,318,417) Selling expenses
Beban umum dan General and administrative
administrasi 28 (277,680) (253,243) expenses
Jumlah Beban Usaha (1,655,946) (1,571,660) Total Operating Expenses
LABA USAHA 1,922,310 1,769,090 OPERATING PROFIT
PENGHASILAN (BEBAN)
LAIN-LAIN OTHER INCOME (EXPENSES)
Pendapatan keuangan 29 239,934 285,105 Finance income
Beban keuangan 30 (2,526) (2,539) Finance charges
Bagian atas laba neto Share in net profit of
ventura bersama 14 582 2,678 joint venture
Keuntungan (kerugian) neto penurunan Net impairment gains (losses)
nilai aset keuangan 6 (1,549) 158 on financial assets
Pendapatan lain-lain - neto 31 17,065 14,102 Other income - net
LABA SEBELUM BEBAN PROFIT BEFORE
PAJAK PENGHASILAN 2,175,816 2,068,594 INCOME TAX EXPENSE
Beban pajak penghasilan 20 (431,796) (404,895) Income tax expense
LABA TAHUN BERJALAN 1,744,020 1,663,699 PROFIT FOR THE YEAR
PENGHASILAN (RUGI) OTHER COMPREHENSIVE
KOMPREHENSIF LAIN INCOME (LOSS)
Pos yang tidak akan Items that will not be
direklasifikasi ke laba rugi: reclassified to profit or loss:
Surplus revaluasi aset tetap 13 11,349 - Revaluation surplus of fixed assets
Kerugian aktuarial dari liabilitas Actuarial loss on
atas imbalan kerja karyawan 19 (3,384) (44) employee benefits liability
Pajak tangguhan terkait 20 744 10 Related deferred tax
Sub-jumlah 8,709 (34) Sub-total
Pos yang akan direklasifikasi Item that will be reclassified
ke laba rugi: to profit or loss:
Perubahan nilai wajar Changes in fair value
atas investasi pada of investment in
surat utang negara 10 120,981 (46,949) government bonds
Jumlah penghasilan (rugi) komprehensif Total other comprehensive
lain - setelah pajak 129,690 (46,983) income (loss) - net of tax
JUMLAH PENGHASILAN TOTAL COMPREHENSIVE
KOMPREHENSIF TAHUN BERJALAN 1,873,710 1,616,716 INCOME FOR THE YEAR
Catatan atas Laporan Keuangan Konsolidasian terlampir merupakan bagian yang The accompanying Notes to the Consolidated Financial Statements
tidak terpisahkan dari laporan keuangan konsolidasian form an integral part of these consolidated financial statements
4
Page 121
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN LABA RUGI CONSOLIDATED STATEMENT OF
DAN PENGHASILAN KOMPREHENSIF LAIN PROFIT OR LOSS AND
KONSOLIDASIAN (lanjutan) OTHER COMPREHENSIVE INCOME (continued)
Untuk Tahun yang Berakhir Pada Tanggal For the Year Ended
31 Desember 2025 December 31, 2025
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
Catatan/
Notes 2025 2024
LABA TAHUN BERJALAN
YANG DAPAT PROFIT FOR THE YEAR
DIATRIBUSIKAN KEPADA: ATTRIBUTABLE TO:
Equity Holders of the
Pemilik Entitas Induk 1,747,462 1,664,341 Parent Company
Kepentingan Non-Pengendali (3,442) (642) Non-Controlling Interests
JUMLAH 1,744,020 1,663,699 TOTAL
JUMLAH PENGHASILAN
KOMPREHENSIF TAHUN TOTAL COMPREHENSIVE
BERJALAN YANG DAPAT INCOME FOR THE YEAR
DIATRIBUSIKAN KEPADA: ATTRIBUTABLE TO:
Equity Holders of the
Pemilik Entitas Induk 1,877,154 1,617,351 Parent Company
Kepentingan Non-Pengendali (3,444) (635) Non-Controlling Interests
JUMLAH 1,873,710 1,616,716 TOTAL
Laba per Saham Dasar dan Basic and Diluted Earnings per
Dilusian yang Dapat Share Attributable to
Diatribusikan kepada Equity Holders of
Pemilik Entitas Induk 24 29.11 27.16 the Parent Company
Catatan atas Laporan Keuangan Konsolidasian terlampir merupakan bagian yang The accompanying Notes to the Consolidated Financial Statements
tidak terpisahkan dari laporan keuangan konsolidasian form an integral part of these consolidated financial statements
5
Page 122
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Untuk Tahun yang Berakhir Pada Tanggal For the Year Ended
31 Desember 2025 December 31, 2025
(Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
Ekuitas yang Dapat Diatribusikan kepada Pemilik Entitas Induk/
Equity Atributable to the Equity Holders of the Parent Company
Penghasilan (Rugi) Komprehensif Lain/
Other Comprehensive Income (Loss)
Perubahan
Nilai
Wajar atas Keuntungan
Bagian dari Investasi pada (Kerugian)
Modal Saham Surplus Penghasilan Surat Utang Pengukuran
Ditempatkan Revaluasi Komprehensif Negara/ Kembali Saldo Laba/
dan Disetor Tambahan Aset Lain dari Changes Liabilitas Retained Earnings Kepentingan
Penuh/ Modal Tetap/ Ventura Bersama/ in Fair Imbalan Kerja/ Non-
Issued Disetor/ Revaluation Share of Other Value of Remeasurement Telah Belum Pengendali/ Jumlah
and Fully Additional Surplus Comprehensive Investment in Gain (Loss) Ditentukan Ditentukan Non- Ekuitas/
Catatan/ Paid Paid-in Saham Treasuri/ of Fixed Income of Government on Employee Penggunaannya/ Penggunaannya/ Sub-Jumlah/ Controlling Total
Notes Share Capital Capital Treasury Shares Assets Joint Venture Bonds Benefits Liability Appropriated Unappropriated Sub-Total Interests Equity
Saldo 1 Januari 2024 619,536 7,793,218 (16,369 ) 229,406 85 (56,408 ) 9,921 124,000 1,210,978 9,914,367 7,122 9,921,489 Balance as of January 1, 2024
Dividen 25 - - - - - - - - (1,348,142 ) (1,348,142 ) - (1,348,142 ) Dividends
Pembelian saham treasuri 21 - - (558,183 ) - - - - - - (558,183 ) - (558,183 ) Purchase of treasury shares
Laba tahun berjalan - - - - - - - - 1,664,341 1,664,341 (642 ) 1,663,699 Profit for the year
Penghasilan (rugi) komprehensif lain - - - - - (46,949 ) (41 ) - - (46,990 ) 7 (46,983 ) Other comprehensive income (loss)
Saldo 31 Desember 2024 619,536 7,793,218 (574,552 ) 229,406 85 (103,357 ) 9,880 124,000 1,527,177 9,625,393 6,487 9,631,880 Balance as of December 31, 2024
Dividen 25 - - - - - - - - (1,320,024 ) (1,320,024 ) - (1,320,024 ) Dividends
Pembelian saham treasuri 21 - - (645,342 ) - - - - - - (645,342 ) - (645,342 ) Purchase of treasury shares
Laba tahun berjalan - - - - - - - - 1,747,462 1,747,462 (3,442 ) 1,744,020 Profit for the year
Penghasilan (rugi) komprehensif lain - - - 11,349 - 120,981 (2,638 ) - - 129,692 (2 ) 129,690 Other comprehensive income (loss)
Saldo 31 Desember 2025 619,536 7,793,218 (1,219,894 ) 240,755 85 17,624 7,242 124,000 1,954,615 9,537,181 3,043 9,540,224 Balance as of December 31, 2025
Catatan atas Laporan Keuangan Konsolidasian terlampir merupakan bagian yang tidak terpisahkan dari The accompanying Notes to the Consolidated Financial Statements form an integral part of
laporan keuangan konsolidasian these consolidated financial statements
6
Page 123
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN ARUS KAS CONSOLIDATED STATEMENT OF
KONSOLIDASIAN CASH FLOWS
Untuk Tahun yang Berakhir Pada Tanggal For the Year Ended
31 Desember 2025 December 31, 2025
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
Catatan/
Notes 2025 2024
ARUS KAS DARI CASH FLOWS FROM
AKTIVITAS OPERASI OPERATING ACTIVITIES
Penerimaan kas dari pelanggan 7,925,974 7,229,124 Cash receipts from customers
Pembayaran ke pemasok (5,140,099) (4,625,552) Payments to suppliers
Pembayaran ke karyawan (913,818) (779,291) Payments to employees
Kas yang diperoleh dari operasi 1,872,057 1,824,281 Cash provided by operations
Penerimaan lain-lain 18,660 31,003 Other receipts
Penerimaan penghasilan bunga 244,521 291,459 Receipts of finance income
Pembayaran pajak penghasilan Payments of corporate income
badan 20 (397,073) (380,615) taxes
Kas Bersih yang Diperoleh dari Net Cash Provided by
Aktivitas Operasi 1,738,165 1,766,128 Operating Activities
ARUS KAS DARI CASH FLOWS FROM
AKTIVITAS INVESTASI INVESTING ACTIVITIES
Penerimaan dari penjualan investasi Proceeds from sale of investment
pada surat utang negara 725,249 - in government bonds
Pembelian aset tetap 13 (414,550) (346,045) Purchase of fixed assets
Additions of investment in
Penambahan investasi saham 11 (290,846) - shares of stock
Penambahan investasi pada Additions of long-term debt
surat utang jangka panjang 11 (100,000) - investment
Penambahan deposito berjangka 10 (100,000) - Additions of time deposit
Penambahan investasi pada Additions of investment in
surat utang negara 10 (99,775) - government bonds
Perolehan aset hak-guna 17 (39,393) (39,600) Additions of right-of-use assets
Penambahan uang muka pembelian Additions of advance for
aset tetap (37,876) (92,671) purchases of fixed assets
Penambahan investasi pada Additions of investment in
reksa dana 10 (30,000) - mutual fund
Penerimaan dividen tunai 11 15,350 - Dividends received
Penerimaan investasi jangka pendek - 1,740,000 Proceeds of short-term investments
Penambahan aset takberwujud (10,731) (10,366) Additions of intangible assets
Penerimaan dari pelepasan Proceeds from disposal of
aset tetap 13 9,710 11,156 fixed assets
Kas Bersih yang Diperoleh dari Net Cash Provided by
(Digunakan untuk) (Used in)
Aktivitas Investasi (372,862) 1,262,474 Investing Activities
Catatan atas Laporan Keuangan Konsolidasian terlampir merupakan bagian yang The accompanying Notes to the Consolidated Financial Statements
tidak terpisahkan dari laporan keuangan konsolidasian form an integral part of these consolidated financial statements
7
Page 124
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN ARUS KAS CONSOLIDATED STATEMENT OF
KONSOLIDASIAN (lanjutan) CASH FLOWS (continued)
Untuk Tahun yang Berakhir Pada Tanggal For the Year Ended
31 Desember 2025 December 31, 2025
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
Catatan/
Notes 2025 2024
ARUS KAS DARI CASH FLOWS FROM
AKTIVITAS PENDANAAN FINANCING ACTIVITIES
Perolehan saham treasuri 21 (645,342) (558,183) Acquisition of treasury shares
Pembayaran liabilitas sewa 17 (70,090) (24,758) Payments of lease liabilities
Pembayaran beban bunga 30 (2,526) (2,539) Payment of interest expense
Pembayaran dividen tunai 25 (1,320,024) (1,348,142) Payment of cash dividends
Kas Bersih yang Digunakan untuk Net Cash Used in
Aktivitas Pendanaan (2,037,982) (1,933,622) Financing Activities
NET INCREASE (DECREASE)
KENAIKAN (PENURUNAN) BERSIH IN CASH AND
KAS DAN SETARA KAS (672,679) 1,094,980 CASH EQUIVALENTS
KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS
DAN CERUKAN AND BANK OVERDRAFT AT
AWAL TAHUN 2,320,302 1,225,322 BEGINNING OF YEAR
KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS
DAN CERUKAN AND BANK OVERDRAFT AT
AKHIR TAHUN 5, 18 1,647,623 2,320,302 END OF YEAR
Kas, setara kas dan Cash, cash equivalent
cerukan terdiri and bank overdrafts
dari: comprise of the following:
Kas dan setara kas 5 1,654,810 2,329,491 Cash and cash equivalents
Cerukan 18 (7,187) (9,189) Bank overdrafts
KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS
DAN CERUKAN AND BANK OVERDRAFT AT
AKHIR TAHUN 1,647,623 2,320,302 END OF YEAR
Catatan atas Laporan Keuangan Konsolidasian terlampir merupakan bagian yang The accompanying Notes to the Consolidated Financial Statements
tidak terpisahkan dari laporan keuangan konsolidasian form an integral part of these consolidated financial statements
8
Page 125
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
1. UMUM 1. GENERAL
a. Pendirian dan informasi umum Perusahaan a. The Company’s establishment and general
information
PT Avia Avian Tbk (“Perusahaan”) didirikan PT Avia Avian Tbk (the “Company”) was established
berdasarkan Akta Pendirian No. 6 tanggal 1 Maret based on Deed of Establishment No. 6 dated March 1,
1983, yang dibuat di hadapan Indrawati Setiabudhi, 1983, made by Indrawati Setiabudhi, S.H., notary in
S.H., notaris di Malang, yang diubah dengan Akta Malang, that was amended based on Deed No. 63
No. 63 tanggal 23 Mei 1983 yang dibuat di hadapan dated May 23, 1983 by the same notary. The
notaris yang sama. Akta Perubahan Perusahaan Company’s Deeds of Amendments have been
tersebut telah disahkan berdasarkan Keputusan approved based on the Decision of the Department of
Departemen Kehakiman Republik Indonesia Justice of the Republic of Indonesia dated July 5, 1983
tertanggal 5 Juli 1983 dengan Surat Keputusan with Decision Letter No. C2-4948.HT.01.01.Th83
No. C2-4948.HT.01.01.Th83 dan telah diumumkan and was published in State Gazette
dalam Berita Negara Republik Indonesia No. C2-4948.HT.01.01.Th83 of the Republic of
No. C2- 4948.HT.01.01.Th83. Indonesia.
Anggaran Dasar Perusahaan telah mengalami The Company’s Articles of Association have been
beberapa kali perubahan. Perubahan terakhir dibuat amended several times. The latest amendment was
melalui Akta Notaris Liestiani Wang, S.H., M.Kn., made through Notarial Deed No. 3 of Liestiani Wang,
No. 3 tanggal 4 Agustus 2021, sehubungan dengan S.H., M.Kn., dated August 4, 2021, regarding the
perubahan status perusahaan dari perseroan change of the Company’s status from a limited
tertutup menjadi perseroan terbuka, perubahan company to a public company, the change in the
nama Perusahaan dari PT Avia Avian menjadi Company’s name from PT Avia Avian to PT Avia Avian
PT Avia Avian Tbk, peningkatan modal dasar Tbk, an increase in authorised share capital, changes
Perusahaan, perubahan nilai nominal saham, in the share par value, approval for public offering,
persetujuan pelaksanaan penawaran umum, approval for Employee Stock Allocation (“ESA”),
persetujuan pelaksanaan program Alokasi Saham rearrangement of the Company’s purposes and
Karyawan (“ESA”), penyusunan kembali maksud objectives and activities, reaffirmation of the
dan tujuan serta kegiatan usaha Perusahaan, Company’s Boards of Commissioners and Directors,
penegasan kembali Dewan Komisaris dan Direksi approval of the change in Articles of Association in
Perusahaan, persetujuan perubahan Anggaran accordance with Regulation No. IX.J.1, Financial
Dasar sesuai dengan Peraturan No. IX.J.1, Services Authority’s Regulation (“POJK”) No. 15/2020
Peraturan Otoritas Jasa Keuangan (“POJK”) and POJK No. 33/2014 and appointment of the
No. 15/2020 dan POJK No. 33/2014, dan penetapan Company’s controlling interests in accordance with
pengendali Perusahaan sesuai POJK No. 3/2021. POJK No. 3/2021. This amendment has been
Perubahan anggaran dasar ini telah disetujui oleh approved by the Minister of Law and Human Rights of
Menteri Hukum dan Hak Asasi Manusia Republik the Republic of Indonesia in its Decree
Indonesia melalui Surat Keputusan No. AHU-0043612.AH.01.02.TAHUN 2021 dated
No. AHU-0043612.AH.01.02.TAHUN 2021 tanggal August 12, 2021.
12 Agustus 2021.
Berdasarkan Anggaran Dasar Perusahaan, ruang Based on the Company’s Articles of Association, the
lingkup kegiatan Perusahaan antara lain bergerak scope of activities of the Company comprises
dalam bidang industri pengolahan dan perdagangan processing industry and wholesale trading. The
besar. Perusahaan berkantor pusat di Sidoarjo dan Company’s head office is located in Sidoarjo, with
memiliki pabrik di Sidoarjo dan Serang. factories in Sidoarjo and Serang.
Perusahaan memulai operasi komersialnya pada The Company started its commercial operations in
tahun 1983. 1983.
9
Page 126
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
1. UMUM (lanjutan) 1. GENERAL (continued)
b. Penawaran umum saham Perusahaan b. Public offering of the Company’s shares
Berdasarkan Akta Notaris No. 3 tanggal Based on Notarial Deed No. 3 dated August 4, 2021,
4 Agustus 2021 oleh Notaris Liestiani Wang, S.H., by Notary Liestiani Wang, S.H., M.Kn., notary in South
M.Kn., notaris di Jakarta Selatan, para pemegang Jakarta, the shareholders of the Company decided and
saham Perusahaan memutuskan dan menyetujui approved matters, including the changes of the
beberapa hal, antara lain perubahan status Company’s status from a limited company to a
Perusahaan dari perseroan tertutup menjadi public company and the Company’s name from
perseroan terbuka serta perubahan nama PT Avia Avian to PT Avia Avian Tbk. This amendment
Perusahaan dari PT Avia Avian menjadi PT Avia was approved by the Minister of Law and
Avian Tbk. Perubahan tersebut telah disahkan oleh Human Rights under Decision Letter
Menteri Hukum dan Hak Asasi Manusia dengan Surat No. AHU-0043612.AH.01.02.TAHUN 2021 dated
Keputusan No. AHU-0043612.AH.01.02.TAHUN August 12, 2021.
2021 tanggal 12 Agustus 2021.
Dalam rangka penawaran umum perdana saham In relation to the initial public offering of the Company’s
Perusahaan, Perusahaan mendapatkan Surat shares, the Company obtained the Notification Letter of
Pemberitahuan Efektif Pernyataan Pendaftaran Statement of Effective Registration
No. S-223/D.04/2021 tertanggal 30 November 2021 No. S-223/D.04/2021 dated November 30, 2021 from
dari Otoritas Jasa Keuangan (“OJK”) untuk the Financial Services Authority (“OJK”) to conduct an
melakukan penawaran umum perdana sebanyak initial public offering of 6,200,000,000 shares to the
6.200.000.000 lembar saham dengan nilai nominal public with a par value of Rp 10 (full amount) per share
Rp 10 (angka penuh) per lembar saham dan harga at an offering price of Rp 930 (full amount) per share.
penawaran sebesar Rp 930 (angka penuh) per All of the shares offered to the public in the initial public
lembar saham. Seluruh saham yang ditawarkan ke offering were new shares issued by the Company.
masyarakat pada saat penawaran umum perdana Effective on December 8, 2021, the Company’s shares
berasal dari saham baru yang diterbitkan have been listed on the Indonesia Stock Exchange
Perusahaan. Efektif tanggal 8 Desember 2021, (“IDX”).
saham Perusahaan telah dicatatkan di Bursa Efek
Indonesia (“BEI”).
Berdasarkan Rapat Umum Pemegang Saham Luar Based on the Extraordinary General Shareholders
Biasa tanggal 7 Desember 2023, yang berita Meeting dated December 7, 2023, which was notarised
acaranya dituangkan dalam Akta Notaris No. 5 by Notarial Deed No. 5 dated December 7, 2023, of
tanggal 7 Desember 2023 dari Notaris Dr. Susanti, Notary Dr. Susanti, S.H., M.Kn., the shareholders
S.H., M.Kn., para pemegang saham menyetujui untuk agreed to repurchase 1,425,000,000 ordinary shares of
melakukan pembelian kembali sebanyak-banyaknya the Company through a transaction at the IDX (Notes
1.425.000.000 lembar saham biasa Perusahaan 21 and 37).
melalui pembelian pada BEI (Catatan 21 dan 37).
Berdasarkan Rapat Umum Pemegang Saham Luar Based on the Extraordinary General Shareholders
Biasa tanggal 10 April 2025, yang berita acaranya Meeting dated April 10, 2025, which was notarised by
dituangkan dalam Akta Notaris No. 2 tanggal Notarial Deed No. 2 dated April 10, 2025, of Notary Dr.
10 April 2025 dari Notaris Dr. Susanti, S.H., M.Kn., Susanti, S.H., M.Kn., the shareholders agreed to
para pemegang saham menyetujui untuk melakukan repurchase 1,425,000,000 ordinary shares of the
pembelian kembali sebanyak-banyaknya Company through a transaction at the IDX (Notes 21
1.425.000.000 lembar saham biasa Perusahaan and 37).
melalui pembelian pada BEI (Catatan 21 dan 37).
c. Entitas induk dan entitas induk utama c. Parent and ultimate parent entity
PT Wahana Lancar Rejeki dan PT Tancorp Surya PT Wahana Lancar Rejeki and PT Tancorp Surya
Sentosa merupakan pemegang saham pengendali Sentosa are the controlling shareholders of the
Perusahaan. Pemilik utama manfaat dari Perusahaan Company. The ultimate beneficial owners of the
adalah Wijono Tanoko, Hermanto Tanoko dan Ruslan Company are Wijono Tanoko, Hermanto Tanoko and
Tanoko.
Ruslan Tanoko.
10
Page 127
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
1. UMUM (lanjutan) 1. GENERAL (continued)
d. Entitas anak yang dikonsolidasi d. Consolidated subsidiaries
Pada tanggal 31 December 2025 dan 2024, As of December 31, 2025 and 2024, the Company has
Perusahaan memiliki entitas anak dengan subsidiaries with effective percentage of ownership as
kepemilikan efektif sebagai berikut: follows:
Persentase Jumlah Aset
Dimulainya Kepemilikan/ Sebelum Eliminasi/
Kegiatan Percentage Total Assets
Komersial/ of Ownership Before Elimination
Commencement
Entitas Anak/ Domisili/ Bidang Usaha/ of Commercial
Subsidiaries Domicile Nature of Business Operations 2025 2024 2025 2024
Kepemilikan Langsung/
Direct Ownership
PT Tirta Kencana Tatawarna
(“PT TKTW”)a) Surabaya Perdagangan/Trading 2000 99,99% 99,99% 4,671,581 4,176,481
PT Solusi Rumah Perdagangan dan jasa/
Praktis (“PT SRP”) Surabaya Trading and service 2018 99.99% 99.99% 678 1,066
PT Multipro Paint Indonesia Perdagangan dan industri/
(“PT MPI”) Jakarta Trading and industry 2008 67.00% 67.00% 16,910 33,043
Kepemilikan Tidak Langsung/
Indirect Ownership
Melalui PT TKTW/Through
PT TKTW
PT Tirtakencana Batamindo
(“PT TKBI”) Batam Perdagangan/Trading 2010 99,98% 99,98% 39,074 34,708
a)
dan entitas anak/and subsidiaries
e. Dewan Komisaris dan Direksi, Komite Audit dan e. Boards of Commissioners and Directors, Audit
karyawan Committee and employees
Susunan Dewan Komisaris dan Direksi pada tanggal The compositions of the Company’s Boards of
31 Desember 2025 dan 2024 adalah sebagai berikut: Commissioners and Directors as of
December 31, 2025 and 2024 are as follows:
2025 2024
Dewan Komisaris Board of Commissioners
Komisaris Utama Hermanto Tanoko Hermanto Tanoko President Commissioner
Komisaris Independen Oscar Christian Maria Josef - Independent Commissioner
Wezenbeek
Komisaris Independen Mohammad Noor Mohammad Noor Independent Commissioner
Rachman Soejoeti Rachman Soejoeti
Direksi Board of Directors
Direktur Utama Wijono Tanoko Wijono Tanoko President Director
Wakil Direktur Utama Ruslan Tanoko Ruslan Tanoko Vice President Director
Direktur Robert Christian Tanoko Robert Christian Tanoko Director
Direktur Kurnia Hadi Sinanto Kurnia Hadi Sinanto Director
Direktur Angelica Tanisia Jozar Angelica Tanisia Jozar Director
Susunan komite audit pada tanggal 31 Desember The members of Company’s Audit Committee as of
2025 dan 2024 adalah sebagai berikut: December 31, 2025 and 2024 are as follows:
2025 2024
Komite Audit Audit Committee
Ketua Mohammad Noor Mohammad Noor Chairman
Rachman Soejoeti Rachman Soejoeti
Anggota Sammy TS Lalamentik Sammy TS Lalamentik Member
Anggota Wardiman Wijaya Wardiman Wijaya Member
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the Company and
Perusahaan dan Entitas Anaknya (secara bersama- its Subsidiaries (collectively referred to herein as the
sama disebut “Grup”) memiliki masing-masing 1.292 “Group”) has a total of 1,292 and 1,417 permanent
dan 1.417 orang karyawan tetap (tidak diaudit). employees, respectively (unaudited).
11
Page 128
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
1. UMUM (lanjutan) 1. GENERAL (continued)
f. Tanggal penyelesaian laporan keuangan f. Completion date of the consolidated financial
konsolidasian statements
Manajemen bertanggung jawab atas penyusunan dan Management is responsible for the preparation and fair
penyajian wajar laporan keuangan konsolidasian ini, presentation of these consolidated financial
sesuai dengan Standar Akuntansi Keuangan di statements, in accordance with Indonesian Financial
Indonesia, yang diselesaikan dan disetujui untuk Accounting Standards, which were completed and
diterbitkan oleh Direksi Perusahaan pada tanggal authorized for issuance by the Company’s Directors on
24 Februari 2026. February 24, 2026.
2. PENERAPAN STANDAR BARU DAN REVISI 2. ADOPTION OF NEW AND REVISED STANDARDS
a. Amendemen/penyesuaian standar yang berlaku a. Amendments/improvements to standards effective
efektif pada tahun berjalan in the current year
Dalam tahun berjalan, Grup telah menerapkan In the current year, the Group has applied
sejumlah amendemen/penyesuaian PSAK yang amendments/improvements to PSAK that are relevant
relevan dengan operasinya dan efektif untuk periode to its operations and effective for accounting period
akuntansi yang dimulai pada atau setelah beginning on or after January 1, 2025. The adoption of
1 Januari 2025. Penerapan atas PSAK revisi tidak these revised PSAKs does not result in changes to the
mengakibatkan perubahan atas kebijakan akuntansi Group’s accounting policies and has no material effect
Grup dan tidak memiliki dampak material terhadap on the amounts reported for the current year or prior
jumlah yang dilaporkan pada tahun berjalan atau years.
tahun-tahun sebelumnya.
• PSAK 221 (Amendemen), “Pengaruh • PSAK 221 (Amendment), “The Effects of Changes
Perubahan Kurs Valuta Asing”: Kekurangan in Foreign Exchange Rates”: Lack of
Ketertukaran Exchangeability
Amendemen ini mensyaratkan entitas untuk This amendment requires an entity to apply a
menerapkan pendekatan yang konsisten dalam consistent approach to assessing whether a
menilai apakah suatu mata uang dapat ditukar currency is exchangeable into another currency
dengan mata uang lain dan, jika tidak, dalam and, when it is not, to determining the exchange
menentukan nilai tukar yang akan digunakan rate to use and the disclosures to provide.
dan pengungkapan yang harus diberikan.
b. Standar dan amendemen/penyesuaian standar b. Standards and amendments/improvements to
telah diterbitkan tapi belum diterapkan standards issued not yet adopted
Pada tanggal persetujuan laporan keuangan At the date of authorization of these consolidated
konsolidasian, standar dan amendemen-amendemen financial statements, the following standards and
atas PSAK yang relevan bagi Grup, yang telah amendments to PSAK relevant to the Group were
diterbitkan namun belum berlaku efektif, dengan issued but not yet effective, with early application
penerapan dini diijinkan, adalah sebagai berikut: permitted:
Efektif untuk periode yang dimulai pada atau setelah Effective for periods beginning on or after
tanggal 1 Januari 2026 January 1, 2026
• Amendemen PSAK 109, “Instrumen Keuangan” • Amendments to PSAK 109, “Financial Instruments”
dan PSAK 107, “Instrumen Keuangan: and PSAK 107,” Financial Instruments:
Pengungkapan”: Klasifikasi dan Pengukuran Disclosure”: Classification and Measurement of
Instrumen Keuangan Financial Instrument
12
Page 129
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. PENERAPAN STANDAR BARU DAN REVISI (lanjutan) 2. ADOPTION OF NEW AND REVISED STANDARDS
(continued)
b. Standar dan amendemen/penyesuaian standar b. Standards and amendments/improvements to
telah diterbitkan tapi belum diterapkan (lanjutan) standards issued not yet adopted (continued)
Efektif untuk periode yang dimulai pada atau setelah Effective for periods beginning on or after
tanggal 1 Januari 2026 (lanjutan) January 1, 2026 (continued)
• Amendemen PSAK 109, “Instrumen Keuangan” • Amendments to PSAK 109, “Financial Instruments”
dan PSAK 107, “Instrumen Keuangan: and PSAK 107,” Financial Instruments:
Pengungkapan”: Klasifikasi dan Pengukuran Disclosure”: Classification and Measurement of
Instrumen Keuangan (lanjutan) Financial Instrument (continued)
Amendemen tersebut mengklarifikasi The amendments clarify the requirements related
persyaratan yang terkait dengan tanggal to the date of recognition and derecognition of
penghentian pengakuan aset keuangan dan financial assets and financial liabilities, with an
liabilitas keuangan, dengan pengecualian untuk exception for derecognition of financial liabilities
penghentian pengakuan liabilitas keuangan settled via an electronic transfer; the requirements
yang diselesaikan melalui transfer elektronik; for assessing contractual cash flow characteristics
persyaratan untuk menilai karakteristik arus kas of financial assets, with additional guidance on
kontraktual dari aset keuangan, dengan assessment of contingent features; and the
panduan tambahan tentang penilaian fitur characteristics of non-recourse loans and
kontinjensi; dan karakteristik pinjaman non- contractually linked instruments. The amendments
course dan instrumen yang terkait secara also introduce additional disclosure requirements
kontraktual. Amendemen tersebut juga for equity instruments at fair value through other
memperkenalkan persyaratan pengungkapan comprehensive income and for financial
tambahan untuk instrumen ekuitas yang diukur instruments with contingent features.
pada nilai wajar melalui penghasilan
komprehensif lain dan untuk instrumen
keuangan dengan fitur kontinjensi.
• Penyesuaian Tahunan 2024 terhadap PSAK • 2024 Annual Improvements to PSAK 107,
107, “Instrumen Keuangan: Pengungkapan”, “Financial Instruments: Disclosures”, PSAK 109,
PSAK 109, “Instrumen Keuangan”, PSAK 110, “Financial Instruments”, PSAK 110, “Consolidated
“Laporan Keuangan Konsolidasian” dan PSAK Financial Statements” and PSAK 207, “Statement
207, “Laporan Arus Kas” of Cash Flows”
Penyesuaian tahunan ini terbatas pada These annual improvements are limited to
amendemen yang mengklarifikasi susunan kata amendments that either clarify the wording or
(wording) atau pembetulan minor atas correct relatively minor unintended consequences,
konsekuensi yang tidak diintensikan, oversights or conflicts between requirements in the
kekeliruan, atau persyaratan yang bertentangan standards.
dalam standar.
• PSAK 338 (Revisi 2025), Kombinasi Bisnis • PSAK 338 (2025 Revision), Business
Entitas Sepengendali Combinations of Entities under Common Control
Perubahan utama dalam revisi ini mencakup The key changes introduced in this revision include
pengecualian entitas investasi dari ruang the exclusion of investment entities from the scope
lingkup PSAK 338, serta tambahan definisi of PSAK 338, as well as the addition of definitions
bisnis alihan, entitas penerima, dan entitas for the transferred business, the receiving entity,
pengalih. Revisi ini juga mencakup rujukan and the transferring entity. This revision also
jumlah tercatat bisnis alihan dan penyajian includes references to the carrying amount of the
informasi prakombinasi bisnis ketika terjadi transferred business and the presentation of pre-
ketidakpraktisan dalam penerapan metode business combination information when the
penyatuan kepemilikan. application of the pooling-of-interests method is
impracticable.
13
Page 130
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. PENERAPAN STANDAR BARU DAN REVISI (lanjutan) 2. ADOPTION OF NEW AND REVISED STANDARDS
(continued)
b. Standar dan amendemen/penyesuaian standar b. Standards and amendments/improvements to
telah diterbitkan tapi belum diterapkan (lanjutan) standards issued not yet adopted (continued)
Efektif untuk periode yang dimulai pada atau setelah Effective for periods beginning on or after
tanggal 1 Januari 2027 January 1, 2027
• PSAK 118, “Penyajian dan Pengungkapan • PSAK 118, “Presentation and Disclosure in
dalam Laporan Keuangan” Financial Statements”
PSAK 118 menggantikan PSAK 201, PSAK 118 supersedes PSAK 201, retaining many
mempertahankan banyak prinsip yang ada existing principles but significantly changing how
tetapi secara signifikan mengubah cara entitas entities report “operating profit or loss.” It
melaporkan “laba atau rugi operasional.” PSAK establishes a defined structure for the statement of
ini menetapkan struktur yang jelas untuk profit or loss, categorising items into operating,
laporan laba rugi dengan mengelompokkan investing, financing, income taxes and
pos-pos ke dalam kategori operasi, investasi, discontinued operations. The standard mandates
pembiayaan, pajak penghasilan, dan operasi specific disclosures, including management-
yang dihentikan. Standar ini mewajibkan defined performance measures (MPMs), allowing
pengungkapan tertentu, termasuk ukuran investors to understand management's view of the
kinerja tetapan manajemen (UKTM), yang company's financial performance and how these
memungkinkan investor memahami bagaimana measures compare to those defined in PSAK 118.
pandangan manajemen atas kinerja keuangan
perusahaan dan bagaimana ukuran tersebut
dibandingkan dengan ukuran yang didefinisikan
dalam PSAK 118.
Meskipun PSAK 118 tidak memengaruhi Even though PSAK 118 will not impact the
pengakuan atau pengukuran pos-pos dalam recognition or measurement of items in the
laporan keuangan, dampaknya terhadap financial statements, its impacts on presentation
penyajian dan pengungkapan diperkirakan and disclosure are expected to be pervasive, in
akan sangat luas, terutama yang berkaitan particular those related to the statement of
dengan laporan kinerja keuangan dan financial performance and providing MPM within
penyediaan UKTM dalam laporan keuangan. the financial statements.
Manajemen saat ini sedang menilai secara rinci Management is currently assessing the detailed
implikasi penerapan standar baru ini pada implications of applying the new standard on the
laporan keuangan konsolidasian Grup. Group’s consolidated financial statements.
Sampai dengan tanggal penerbitan laporan keuangan As at the issuance date of the consolidated financial
konsolidasian, dampak dari penerapan standar dan statements, the effects of adopting these standard and
amendemen tersebut terhadap laporan keuangan amendments on the consolidated financial statements
konsolidasian tidak dapat diketahui atau diestimasi are not known nor reasonably estimable by
oleh manajemen. management.
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL
a. Dasar penyusunan laporan keuangan a. Basis of preparation of the consolidated financial
konsolidasian statements
Laporan keuangan konsolidasian PT Avia Avian Tbk The consolidated financial statements of PT Avia Avian
dan Entitas Anaknya disusun berdasarkan Standar Tbk and its Subsidiaries have been prepared in
Akuntansi Keuangan di Indonesia dan Peraturan- accordance with Indonesian Financial Accounting
Peraturan serta Pedoman Penyajian dan Standards and the Regulations and Guidelines on
Pengungkapan Laporan Keuangan yang diterbitkan Financial Statement Presentation and Disclosures
oleh Otoritas Jasa Keuangan (“OJK”). issued by the Financial Services Authority (Otoritas
Jasa Keuangan or “OJK”).
14
Page 131
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
a. Dasar penyusunan laporan keuangan a. Basis of preparation of the consolidated financial
konsolidasian (lanjutan) statements (continued)
Kebijakan akuntansi yang diterapkan dalam The accounting policies adopted in the preparation of
penyusunan laporan keuangan konsolidasian adalah the consolidated financial statements are consistent
selaras dengan kebijakan akuntansi yang diterapkan with those adopted in the preparation of the
dalam penyusunan laporan keuangan konsolidasian consolidated financial statements for the year ended
tanggal 31 Desember 2024, kecuali bagi penerapan December 31, 2024, except for the adoption of several
beberapa SAK yang telah direvisi. Seperti amended SAKs. As disclosed in Note 2, several
diungkapkan dalam Catatan 2, beberapa standar amended and published accounting standards were
akuntansi yang telah direvisi dan diterbitkan, adopted effective January 1, 2025.
diterapkan efektif tanggal 1 Januari 2025.
Grup telah menyusun laporan keuangan The Group has prepared the consolidated financial
konsolidasian dengan dasar bahwa Grup akan terus statements on the basis that it will continue to operate
mempertahankan kelangsungan usaha. as a going concern.
Laporan keuangan konsolidasian, kecuali untuk The consolidated financial statements, except for the
laporan arus kas konsolidasian, disusun berdasarkan consolidated statement of cash flows, have been
dasar akrual dengan menggunakan konsep harga prepared on the accrual basis using the historical cost
perolehan, kecuali properti dan instrumen keuangan basis of accounting, except for certain properties and
tertentu yang diukur pada jumlah revaluasian atau financial instruments that are measured at revalued
nilai wajar yang dijelaskan dalam kebijakan akuntansi amounts or fair values as explained in the related
di bawah ini. accounting policies below.
Laporan arus kas konsolidasian disusun dengan The consolidated statements of cash flows have been
menggunakan metode langsung dengan prepared using direct method which classify cash flows
mengelompokkan arus kas dalam aktivitas-aktivitas into operating, investing and financing activities.
operasi, investasi dan pendanaan.
Mata uang pelaporan yang digunakan dalam laporan The reporting currency used in the consolidated
keuangan konsolidasian adalah Rupiah, yang financial statements is Rupiah, which is the Group’s
merupakan mata uang fungsional Grup. functional currency.
b. Klasifikasi lancar/jangka pendek dan tidak b. Current and non-current classification
lancar/jangka panjang
Grup menyajikan aset dan liabilitas dalam laporan The Group presents assets and liabilities in the
posisi keuangan konsolidasian berdasarkan consolidated statement of financial position based on
klasifikasi lancar/tidak lancar atau jangka current/non-current classification.
pendek/jangka panjang.
Suatu aset disajikan lancar bila: An asset is current when it is:
i. diperkirakan akan direalisasi atau diintensikan i. expected to be realized or intended to be sold or
untuk dijual atau digunakan dalam siklus operasi consumed in the normal operating cycle,
normal,
ii. untuk diperdagangkan, ii. held primarily for the purpose of trading,
iii. diperkirakan akan direalisasi dalam 12 bulan iii. expected to be realized within 12 months after the
setelah tanggal pelaporan, atau kas atau setara reporting period, or cash or cash equivalent unless
kas kecuali yang dibatasi penggunaannya atau restricted from being exchanged or used to settle a
akan digunakan untuk melunasi suatu liabilitas liability for at least 12 months after the reporting
dalam paling lambat 12 bulan setelah periode period.
pelaporan.
15
Page 132
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
b. Klasifikasi lancar/jangka pendek dan tidak b. Current and non-current classification (continued)
lancar/jangka panjang (lanjutan)
Seluruh aset lain diklasifikasikan sebagai tidak lancar. All other assets are classified as non-current.
Suatu liabilitas disajikan sebagai jangka pendek bila: A liability is current when it is:
i. diperkirakan akan dilunasi dalam siklus operasi i. expected to be settled in the normal operating
normal, cycle,
ii. untuk diperdagangkan, ii. held primarily for the purpose of trading,
iii. telah jatuh tempo dan akan dilunasi dalam 12 iii. due to be settled within 12 months after the
bulan setelah tanggal pelaporan, atau reporting period, or
iv. tidak ada hak tanpa syarat untuk menangguhkan iv. there is no unconditional right to defer the
pelunasannya selama paling tidak 12 bulan settlement of the liability for at least 12 months
setelah periode pelaporan. after the reporting period.
Seluruh liabilitas lain diklasifikasikan sebagai jangka All other liabilities are classified as non-current.
panjang.
Aset dan liabilitas pajak tangguhan diklasifikasikan Deferred tax assets and liabilities are classified as non-
sebagai aset tidak lancar dan liabilitas jangka current assets and liabilities.
panjang.
c. Prinsip-prinsip konsolidasi c. Principles of consolidation
Laporan keuangan konsolidasian meliputi laporan The consolidated financial statements incorporate the
keuangan Perusahaan dan entitas yang dikendalikan financial statements of the Company and the entity in
secara langsung ataupun tidak langsung oleh which the Company has the ability to directly or
Perusahaan. Kendali diperoleh bila Grup terekspos indirectly exercise control. Control is achieved when
atau memiliki hak atas timbal balik hasil variabel dari the Group are exposed, or have rights, to variable
keterlibatannya dengan investee dan memiliki returns from its involvement with the investee and have
kemampuan untuk mempengaruhi timbal balik the ability to affect those returns through its power over
tersebut melalui kekuasaannya atas investee. the investee. Thus, the Group control an investee if
Dengan demikian, investor mengendalikan investee and only if the Group have all of the following:
jika dan hanya jika investor memiliki seluruh hal
berikut ini:
i. Kekuasaan atas investee, yaitu hak yang ada i. Power over the investee, that is existing rights that
saat ini yang memberi investor kemampuan kini give the Group current ability to direct the relevant
untuk mengarahkan aktivitas relevan dari activities of the investee,
investee,
ii. Eksposur atau hak atas timbal balik hasil variabel ii. Exposure, or rights, to variable returns from its
dari keterlibatannya dengan investee, dan involvement with the investee, and
iii. Kemampuan untuk menggunakan kekuasaannya iii. The ability to use its power over the investee to
atas investee untuk mempengaruhi jumlah imbal affect its returns.
hasil.
Bila Grup tidak memiliki hak suara atau hak serupa When the Group have less than a majority of the voting
secara mayoritas atas suatu investee, Grup or similiar rights of an investee, the Group consider all
mempertimbangkan semua fakta dan keadaan yang relevant facts and circumstances in assessing whether
relevan dalam mengevaluasi apakah mereka memiliki it has power over an investee, including:
kekuasaan atas investee, termasuk:
i. Pengaturan kontraktual dengan pemilik hak suara i. The contractual arrangement with the other vote
lainnya dari investee, holders of the investee,
ii. Hak yang timbul atas pengaturan kontraktual lain, ii. Rights arising from other contractual
dan arrangements, and
iii. Hak suara dan hak suara potensial yang dimiliki iii. The Group’s voting rights and potential voting
Grup. rights.
16
Page 133
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
c. Prinsip-prinsip konsolidasi (lanjutan) c. Principles of consolidation (continued)
Grup menilai kembali apakah mereka mengendalikan The Group re-assesses whether or not it controls an
investee bila fakta dan keadaan mengindikasikan investee if facts and circumstances indicate that there
adanya perubahan terhadap satu atau lebih dari are changes to one or more of the three elements of
ketiga elemen dari pengendalian. Konsolidasi atas control. Consolidation of a subsidiary begins when the
entitas-entitas anak dimulai sejak Grup memperoleh Group obtain the control over the subsidiary and
pengendalian atas entitas anak dan berhenti pada ceases when the Group loses control of the subsidiary.
saat Grup kehilangan pengendalian atas Assets, liabilities, income and expenses of a subsidiary
Perusahaan. Aset, liabilitas, penghasilan dan beban acquired during the year are included in the
dari entitas anak yang diakuisisi pada tahun tertentu consolidated financial statements from the date the
disertakan dalam laporan keuangan konsolidasian Group gain control until the date the Group cease to
sejak tanggal Grup memperoleh kendali sampai control the subsidiary.
tanggal Grup tidak lagi mengendalikan entitas anak
tersebut.
Laporan keuangan entitas anak disusun dengan The financial statements of the subsidiaries are
periode pelaporan yang sama dengan Perusahaan. prepared for the same reporting period as the
Kebijakan akuntansi yang digunakan dalam penyajian Company. The accounting policies adopted in
laporan keuangan konsolidasian telah diterapkan preparing the consolidated financial statements have
secara konsisten oleh Grup, kecuali dinyatakan lain. been consistently applied by the Group, unless
otherwise stated.
Kepentingan non-pengendali (“KNP”) mencerminkan Non-controlling interests (“NCI”) represents the portion
bagian atas laba atau rugi dan aset neto dari entitas of the profit or loss and net assets of the subsidiary not
anak yang tidak dapat diatribusikan, secara langsung attributable directly or indirectly to the Company, which
maupun tidak langsung, pada Perusahaan, yang are presented in the consolidated statement of profit or
masing-masing disajikan dalam laporan laba rugi dan loss and other comprehensive income and under the
penghasilan komprehensif lain konsolidasian dan equity section of the consolidated statement of
dalam ekuitas pada laporan posisi keuangan financial position, respectively, separately from the
konsolidasian, terpisah dari bagian yang dapat corresponding portion attributable to the owner of the
diatribusikan kepada pemilik Perusahaan. Company.
Kepentingan non-pengendali pada awalnya dapat Non-controlling interest may initially be measured at
diukur sebesar nilai wajar atau bagian proporsional fair value or at the non-controlling interests’
kepentingan non-pengendali atas nilai wajar aset proportionate share of the fair value of the acquiree’s
neto teridentifikasi pihak yang diakuisisi. Pilihan identifiable net assets. The choice of measurement is
pengukuran dibuat untuk masing-masing akuisisi. made on an acquisition-by-acquisition basis. Other
Kepentingan non-pengendali lain awalnya diukur non-controlling interests are initially measured at fair
sebesar nilai wajar. Setelah akuisisi, jumlah tercatat value. Subsequent to acquisition, the carrying amount
kepentingan non-pengendali adalah jumlah of non-controlling interests is the amount of those
kepentingan tersebut pada pengakuan awal ditambah interests at initial recognition plus the non-controlling
bagian kepentingan non-pengendali dari perubahan interests’ share of subsequent changes in equity.
selanjutnya di ekuitas.
Seluruh laba rugi dan setiap komponen penghasilan Profit or loss and each component of other
komprehensif lain diatribusikan pada pemilik entitas comprehensive income are attributed to the equity
induk dan pada kepentingan non-pengendali (“KNP”), holders of the parent of the Company and to the non-
walaupun hal ini akan menyebabkan saldo KNP yang controlling interests (“NCI”), even if this results in the
defisit. Bila dipandang perlu, penyesuaian dilakukan NCI having deficit balance. When necessary,
terhadap laporan keuangan entitas anak untuk adjustments are made to the financial statements of
diselaraskan dengan kebijakan akuntansi Grup. subsidiary to bring their accounting policies into the line
with the Group accounting policies.
Seluruh saldo akun, transaksi, penghasilan dan All intra and inter-group balances, transactions, income
beban antar perusahaan yang signifikan, dan laba and expenses, and unrealized profits and losses
atau rugi hasil transaksi dari intra Grup yang belum resulting from intra-group transactions and dividends
direalisasi dan dividen dieliminasi pada saat are eliminated on consolidations.
konsolidasi.
17
Page 134
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
c. Prinsip-prinsip konsolidasi (lanjutan) c. Principles of consolidation (continued)
Perubahan dalam bagian kepemilikan entitas induk A change in the parent’s ownership interest in a
terhadap entitas anak yang tidak mengakibatkan subsidiary, without a loss of control, is accounted for as
hilangnya pengendalian, dicatat sebagai transaksi an equity transaction. If the Company loss control over
ekuitas. Bila kehilangan pengendalian atas suatu a subsidiary, it derecognizes the related assets
entitas anak, maka Perusahaan menghentikan (including goodwill), liabilities, NCI and other
pengakuan atas aset (termasuk goodwill), liabilitas component of equity, while any resulting gain or loss is
dan komponen lain dari ekuitas terkait, sementara recognized in the profit or loss. Any investment
rugi atau laba yang dihasilkan diakui pada laba rugi. retained is recognized at fair value.
Bagian dari investasi yang tersisa diakui pada nilai
wajar.
Transaksi perubahan nilai investasi pada Entitas Change of carrying value of investment transaction
Anak yang timbul dari penerbitan saham baru oleh which derived from the issuance of new shares of
Entitas Anak kepada Perusahaan dicatat pada akun Subsidiary to the Company is recorded as “Differences
“Selisih transaksi perubahan ekuitas Entitas Anak arising from changes in equity of Subsidiary and effect
dan dampak transaksi dengan kepentingan non- of transactions with non-controlling interest” account
pengendali” sebagai bagian dari “Ekuitas” pada which is presented under the “Equity” account in the
laporan posisi keuangan konsolidasian. consolidated statement of financial position.
d. Kombinasi bisnis d. Business combination
Kombinasi bisnis dicatat menggunakan metode Business combinations are accounted for using
akuisisi. Imbalan yang dialihkan dalam suatu acquisition method. The consideration transferred in a
kombinasi bisnis diukur pada nilai wajar, yang business combination is measured at fair value, which
dihitung sebagai hasil penjumlahan dari nilai wajar is calculated as the sum of the acquisition-date fair
tanggal akuisisi atas seluruh aset yang dialihkan oleh values of the assets transferred by the Group, liabilities
Grup, liabilitas yang diakui oleh Grup kepada pemilik incurred by the Group to the former owners of the
sebelumnya dari pihak yang diakuisisi dan acquiree, and the equity interests issued by the Group
kepentingan ekuitas yang diterbitkan oleh Grup in exchange for control of the acquiree. The
dalam pertukaran pengendalian dari pihak yang acquisition-related costs incurred are expensed in the
diakuisisi. Biaya akuisisi yang terjadi dibiayakan dan current year.
dicatat sebagai beban pada tahun berjalan.
Pada tanggal akuisisi, aset teridentifikasi yang At the acquisition date, the identifiable assets acquired
diperoleh dan liabilitas yang diambil alih diakui pada and the liabilities assumed are recognized at their fair
nilai wajar, kecuali untuk: value, except that:
• aset atau liabilitas pajak tangguhan yang • deferred tax assets or liabilities and assets or
berkaitan dengan pengaturan imbalan kerja liabilities related to employee benefit arrangements
diakui dan diukur masing-masing berdasarkan are recognized and measured in accordance with
PSAK 212, “Pajak Penghasilan”, dan PSAK 219, PSAK 212, “Income Taxes”, and PSAK 219,
“Imbalan Kerja”; “Employee Benefits”, respectively;
• instrumen liabilitias atau ekuitas yang berkaitan • liabilities or equity instruments related to share-
dengan perjanjian pembayaran berbasis saham based payment arrangements of the acquiree or
dari pihak yang diakuisisi atau pengaturan share-based payment arrangements of the Group
pembayaran berbasis saham Grup yang dibuat entered into to replace share-based payment
untuk menggantikan pengaturan pembayaran arrangements of the acquirer are measured in
berbasis saham dari pihak yang mengakuisisi accordance with PSAK 102, “Share-based
diukur berdasarkan PSAK 102, “Pembayaran Payment”, at the acquisition date; and
Berbasis Saham”, pada tanggal akuisisi; dan
• aset (atau kelompok lepasan) yang • assets (or disposal groups) that are classified as
diklasifikasikan sebagai yang dimiliki untuk dijual held for sale in accordance with PSAK 105, “Non-
berdasarkan PSAK 105, “Aset tidak Lancar yang current Assets Held for Sale and Discontinued
Dikuasai untuk Dijual dan Operasi yang Operations”, and are measured inaccordance with
Dihentikan”, diukur sesuai dengan standar that standard.
tersebut.
18
Page 135
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
d. Kombinasi bisnis (lanjutan) d. Business combination (continued)
Selisih lebih antara penjumlahan imbalan yang The excess of the aggregate of the consideration
dialihkan dan jumlah yang diakui untuk kepentingan transferred and the amount recognized for non-
non-pengendali dan nilai wajar kepentingan ekuitas controlling interest and the fair value of the acquirer’s
yang sebelumnya dimiliki oleh pihak pengakuisisi previously held equity interest in the acquiree (if any)
pada pihak diakuisisi (jika ada) atas jumlah neto pada over the net of the acquisition-date amounts of the
tanggal akuisisi atas aset teridentifikasi yang identifiable assets acquired and liabilities assumed is
diperoleh dan liabilitas yang diambil alih pada tanggal recorded as goodwill.
akuisisi dicatat sebagai goodwill.
Jika nilai wajar aset neto yang diperoleh melebihi If the fair value of the net assets acquired is in excess
jumlah gabungan imbalan yang dialihkan, Grup of the aggregate consideration transferred, the Group
menilai kembali apakah telah mengidentifikasi re-assesses whether it has correctly identified all of the
dengan tepat seluruh aset yang diperoleh dan assets acquired and all of the liabilities assumed and
seluruh liabilitas yang diambil alih dan menelaah reviews the procedures used to measure the amounts
prosedur yang digunakan untuk mengukur jumlah to be recognized at the acquisition date. If the
yang akan diakui pada tanggal akuisisi. Jika penilaian reassessment still results in an excess of the fair value
kembali masih menghasilkan selisih lebih nilai wajar of net assets acquired over the aggregate
aset neto yang diperoleh atas jumlah gabungan consideration transferred, then the gain is recognized
imbalan yang dialihkan, maka keuntungan diakui in profit or loss as a gain from bargain purchase.
dalam laba rugi sebagai keuntungan pembelian
dengan diskon.
Bila imbalan yang dialihkan oleh Grup dalam suatu When the consideration transferred by the Group in a
kombinasi bisnis termasuk aset atau liabilitas yang business combination includes assets or liabilities
berasal dari pengaturan imbalan kontinjensi resulting from a contingent consideration arrangement,
(contingent consideration arrangement), imbalan the contingent consideration is measured at its
kontinjensi tersebut diukur pada nilai wajar pada acquisition date fair value and included as part of the
tanggal akuisisi dan termasuk sebagai bagian dari consideration transferred in a business combination.
imbalan yang dialihkan dalam suatu kombinasi bisnis. Changes in the fair value of the contingent
Perubahan dalam nilai wajar atas imbalan kontinjensi consideration that qualify as measurement period
yang memenuhi syarat sebagai penyesuaian periode adjustments are adjusted retrospectively, with
pengukuran disesuaikan secara retrospektif, dengan corresponding adjustments against goodwill.
penyesuaian terkait terhadap goodwill. Penyesuaian Measurement period adjustments are adjustments that
periode pengukuran adalah penyesuaian yang arise from additional information obtained during the
berasal dari informasi tambahan yang diperoleh measurement period (which cannot exceed one year
selama periode pengukuran (yang tidak melebihi satu from the acquisition date) about facts and
tahun sejak tanggal akuisisi) tentang fakta-fakta dan circumstances that existed at the acquisition date.
kondisi yang ada pada tanggal akuisisi.
Perlakuan akuntansi selanjutnya untuk perubahan The subsequent accounting for changes in the fair
nilai wajar dari imbalan kontinjensi yang tidak value of the contingent consideration that do not qualify
memenuhi syarat sebagai penyesuaian periode as measurement period adjustments depends on how
pengukuran tergantung pada bagaimana imbalan the contingent consideration is classified. Contingent
kontinjensi diklasifikasikan. Imbalan kontinjensi yang consideration that is classified as equity is not
diklasifikasikan sebagai ekuitas tidak diukur kembali remeasured at subsequent reporting dates and its
pada setiap tanggal pelaporan dan penyelesaian subsequent settlement is accounted for within equity.
selanjutnya diperhitungkan dalam ekuitas.
19
Page 136
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
d. Kombinasi bisnis (lanjutan) d. Business combination (continued)
Imbalan kontinjensi yang diklasifikasikan sebagai Contingent consideration classified as an asset or
aset atau liabilitas yang merupakan instrumen liability that is a financial instrument and within the
keuangan dan termasuk dalam ruang lingkup PSAK scope of PSAK 109 is measured at fair value with the
109 diukur pada nilai wajar dengan perubahan atas changes in fair value recognized in profit or loss in
nilai wajar diakui dalam laba rugi sesuai dengan accordance with PSAK 109. Other contingent
PSAK 109. Imbalan kontinjensi lain yang tidak consideration that is not within the scope of PSAK 109
termasuk dalam ruang lingkup PSAK 109 diukur pada is measured at fair value at each reporting date with
nilai wajar pada setiap tanggal pelaporan dengan changes in fair value recognized in profit or loss.
perubahan atas nilai wajar diakui dalam laba rugi.
Bila suatu kombinasi bisnis dilakukan secara When a business combination is achieved in stages,
bertahap, kepemilikan terdahulu Grup atas pihak the Group’s previously held equity interests in the
diakuisisi diukur kembali ke nilai wajar pada tanggal acquired entity are remeasured to its acquisition-date
akuisisi dan keuntungan atau kerugian dihasilkan, jika fair value and the resulting gain or loss, if any, is
ada, diakui dalam laba rugi. Jumlah yang berasal dari recognized in profit or loss. Amounts arising from
kepemilikan sebelum tanggal akuisisi yang interests in the acquiree prior to the acquisition date
sebelumnya telah diakui dalam penghasilan that have previously been recognized in other
komprehensif lain direklasifikasi ke laba rugi dimana comprehensive income are reclassified to profit or loss
perlakuan tersebut akan sesuai jika kepemilikan where such treatment would be appropriate if that
tersebut dilepas/dijual. interests were disposed of.
Jika akuntansi awal untuk kombinasi bisnis belum If the initial accounting for a business combination is
selesai pada akhir periode pelaporan saat kombinasi incomplete by the end of the reporting period in which
terjadi, Grup melaporkan jumlah sementara untuk the combination occurs, the Group reports provisional
pos-pos yang proses akuntansinya belum selesai amounts for the items for which the accounting is
dalam laporan keuangannya. Selama periode incomplete. Those provisional amounts are adjusted
pengukuran, pihak pengakuisisi menyesuaikan retrospectively during the measurement period, or
secara retrospektif, aset atau liabilitas tambahan additional assets or liabilities are recognized, to reflect
yang diakui, untuk mencerminkan informasi baru new information obtained about facts and
yang diperoleh tentang fakta dan keadaan yang ada circumstances that existed as at the acquisition date
pada tanggal akuisisi dan, jika diketahui, akan that, if known, would have affected the amount
berdampak pada jumlah yang diakui pada tanggal recognized as at that date.
tersebut.
e. Kombinasi bisnis entitas sepengendali e. Business combination of entities under common
control
Kombinasi bisnis antara entitas sepengendali Business combination involving entities under common
diperlakukan sesuai dengan PSAK 338, “Kombinasi control is accounted in accordance with PSAK 338,
Bisnis Entitas Sepengendali”. Berdasarkan PSAK ini, “Business Combination of Entities Under Common
transaksi kombinasi bisnis entitas sepengendali, Control”. Under this PSAK, business combination of
berupa pengalihan bisnis yang dilakukan dalam entities under common control transactions, such as
rangka reorganisasi entitas-entitas yang berada di transfers of business conducted within the framework
dalam suatu Grup yang sama, bukan merupakan of the reorganization of the entities that are in the same
perubahan kepemilikan dalam arti substansi ekonomi, group, is not a change of ownership in terms of
sehingga transaksi tersebut tidak menimbulkan laba economic substance, hence, the transaction does not
atau rugi bagi Grup secara keseluruhan ataupun bagi result in a gain or loss for the Group as a whole or for
entitas individu dalam Grup tersebut. individual entities within the Group.
Kombinasi bisnis sepengendali dicatat dengan Business combinations under common control are
menggunakan metode penyatuan kepemilikan. accounted for using the pooling-of-interests method.
20
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The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
e. Kombinasi bisnis entitas sepengendali (lanjutan) e. Business combination of entities under common
control (continued)
Metode penyatuan kepemilikan diterapkan seolah- The pooling-of-interest method is applied as if the
olah entitas-entitas tersebut telah bergabung sejak entities had been combined from the period when the
periode dimana entitas yang bergabung berada merging entities were placed under common control.
dalam sepengendalian. Selisih antara imbalan yang The difference between the consideration transferred
dialihkan dan nilai tercatat aset neto pihak yang and the book value of the net assets of the acquiree is
diakuisisi disajikan dalam “tambahan modal disetor” presented under “additional paid-in capital” and is not
dan tidak direklasifikasi ke laba rugi atau recycled to profit or loss nor reclassified to retained
direklasifikasi ke saldo laba ketika pengendalian earnings when control is lost.
hilang.
f. Investasi pada ventura bersama f. Investment in joint ventures
Pengaturan bersama diklasifikasikan sebagai operasi Investments in joint arrangements are classified as
bersama atau ventura bersama bergantung pada hak either joint operations or joint ventures depending on
dan kewajiban kontraktual para investor bukan the contractual rights and obligations of each investor
struktur hukum dari pengaturan bersama. Grup telah rather than the legal structure of the joint arrangement.
menilai sifat dari pengaturan bersama dan Group has assessed the nature of its joint
menentukan pengaturan tersebut sebagai ventura arrangements and determined them to be joint
bersama. Ventura bersama dicatat menggunakan ventures. A joint venture is accounted for using the
metode ekuitas. equity method.
Sesuai metode ekuitas, investasi pada ventura Under the equity method, the investment in a joint
bersama pada awalnya dicatat pada biaya perolehan venture is initially recognised at cost and adjusted
dan selanjutnya disesuaikan untuk mengakui bagian thereafter to recognise the investor’s share of the post-
investor atas laba rugi pasca akuisisi dari pihak yang acquisition profits or losses of the investee in profit or
diakuisisi atas laba rugi, dan bagiannya atas loss, and its share of movements in other
pergerakan penghasilan komprehensif lainnya dari comprehensive income of the investee in other
pihak yang diakuisisi atas penghasilan komprehensif comprehensive income.
lainnya.
Dividen yang diterima atau yang akan diterima dari Dividends received or receivable from a joint venture
ventura bersama diakui sebagai pengurang jumlah are recognised as a reduction in the carrying amount of
tercatat investasi. the investment.
Jika bagian Grup atas kerugian ventura bersama When the Group’s share of losses in a joint venture
sama dengan atau melebihi kepentingannya pada equals or exceeds its interest in the joint ventures,
ventura bersama, termasuk piutang tanpa agunan, including any other unsecured receivables, the Group
Grup menghentikan pengakuan bagian kerugiannya, does not recognise further losses, unless it has
kecuali Grup memiliki kewajiban legal atau konstruktif incurred legal or constructive obligations or made
atau melakukan pembayaran atas nama ventura payments on behalf of the joint venture.
bersama.
Keuntungan dan kerugian yang belum direalisasi atas Unrealised gains and losses on transactions between
transaksi antara Grup dan ventura bersama telah the Group and a joint venture have been eliminated to
dieliminasi sebesar kepemilikan Grup pada ventura the extent of the Group’s interest in the joint venture.
bersama tersebut.
Setiap akhir periode pelaporan, Grup mengevaluasi At the end of each reporting period, the Group
apakah terdapat bukti objektif bahwa investasi assesses whether there is objective evidence that
pada ventura bersama mengalami penurunan nilai. investment in a joint venture is impaired.
21
Page 138
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
g. Transaksi dan saldo dalam mata uang asing g. Foreign currency transactions and balances
Transaksi dalam mata uang asing dicatat Transactions involving foreign currencies are recorded
berdasarkan kurs yang berlaku pada saat transaksi at the rates of exchange prevailing at the time the
dilakukan. Pada tanggal laporan, aset dan liabilitas transactions are made. At reporting date, monetary
moneter dalam mata uang asing disesuaikan ke assets and liabilities denominated in foreign currencies
dalam Rupiah berdasarkan kurs rata-rata Bank are adjusted to Rupiah based on the average rates of
Indonesia yang berlaku pada tanggal tersebut. Laba exchange published by Bank Indonesia at that date.
atau rugi kurs yang terjadi, dikreditkan atau The resulting gains or losses are credited or charged to
dibebankan pada laba rugi tahun berjalan. the current year operations.
Pada tanggal 31 Desember 2025 dan 2024, kurs As of December 31, 2025 and 2024, the middle rates
tengah yang diterbitkan Bank Indonesia mata uang published by Bank Indonesia of foreign currencies
asing yang digunakan adalah sebagai berikut: used are as follows:
2025 2024
1 Dolar Amerika Serikat
(“Dolar AS”) 16,782 16,162 United States Dollar 1 (“US Dollar”)
1 Yuan China (“CNY”) 2,401 2,214 Chinese Yuan 1 (“CNY”)
1 Dolar Singapura (“SGD”) 13,069 11,919 Singapore Dollar 1 (“SGD”)
1 Euro (“Euro”) 19,753 16,851 Euro 1 (“Euro”)
1 Poundsterling Inggris (“GBP”) 22,666 20,333 Great Britain Poundsterling 1 (“GBP”)
h. Transaksi dengan pihak-pihak berelasi h. Transactions with related parties
Grup memiliki transaksi dengan pihak berelasi The Group has transactions with related parties as
sebagaimana yang didefinisikan dalam PSAK 224 defined under PSAK 224 “Related Party Disclosures”.
“Pengungkapan Pihak-pihak Berelasi”.
Transaksi ini dilakukan berdasarkan persyaratan The transactions are made based on terms agreed by
yang disetujui oleh kedua belah pihak. the parties.
Seluruh transaksi dan saldo yang material dengan All material transactions and balances with related
pihak-pihak berelasi diungkapkan dalam catatan atas parties are disclosed in the relevant notes to the
laporan keuangan konsolidasian yang relevan. consolidated financial statements.
i. Instrumen keuangan i. Financial instruments
Instrumen keuangan adalah setiap kontrak yang A financial instrument is any contract that gives rise to
menimbulkan aset keuangan pada satu entitas dan a financial asset of one entity and a financial liability or
liabilitas keuangan atau instrumen ekuitas pada equity instrument of another entity.
entitas lain.
Aset keuangan dan liabilitas keuangan diakui pada Financial assets and financial liabilities are recognized
laporan posisi keuangan konsolidasian pada saat on the consolidated statement of financial position
Grup menjadi salah satu pihak dalam ketentuan when the Group becomes a party to the contractual
kontraktual instrumen tersebut. provisions of the instrument.
22
Page 139
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
i. Instrumen keuangan (lanjutan) i. Financial instruments (continued)
(i) Aset keuangan (i) Financial assets
Pengakuan dan pengukuran awal Initial recognition and measurement
Grup mengklasifikasikan aset keuangan dalam The Group classifies its financial assets into the
kategori berikut ini: following categories.
(i) aset keuangan diukur pada biaya (i) financial assets at amortised cost;
perolehan diamortisasi;
(ii) aset keuangan diukur pada nilai wajar (ii) financial assets at fair value through profit or
melalui laba rugi (“FVTPL”); dan loss (“FVTPL”); and
(iii) aset keuangan diukur pada nilai wajar (iii) financial assets at fair value through other
melalui penghasilan komprehensif lain comprehensive income (“FVTOCI”).
(“FVTOCI”).
Klasifikasi ini tergantung pada model bisnis Grup The classification depends on the Group’s
dan persyaratan kontraktual arus kas - apakah business model and the contractual terms of the
penentuan arus kasnya semata-mata dari cash flows when determining whether their cash
pembayaran pokok dan bunga. flows are solely payment of principal and
interest.
Grup menentukan klasifikasi aset keuangan The Group determines the classification of its
pada pengakuan awal. Untuk investasi pada financial assets at initial recognition. For
instrumen utang, hal ini akan bergantung pada investments in debt instruments, this will depend
model bisnis dimana investasi tersebut on the business model in which the investment is
diadakan. Grup mereklasifikasi investasi pada held. The Group reclassifies investments in debt
instrumen utang jika dan hanya jika model bisnis instruments when and only when its business
untuk mengelola aset tersebut berubah. model for managing those assets changes.
Grup memiliki aset keuangan yang diukur pada The Group has financial assets measured at
biaya perolehan diamortisasi, yang terdiri dari amortised costs, which comprise cash and cash
kas dan setara kas, kas di bank dan deposito equivalents, restricted cash in bank and time
berjangka yang dibatasi penggunaannya, deposits, time deposit, trade receivables, other
deposito berjangka, piutang usaha, piutang lain- receivables, and long-term debt investment,
lain, dan investasi pada surat utang jangka financial assets measured at fair value through
panjang, aset keuangan yang diukur pada nilai other comprehensive income, which comprise of
wajar melalui penghasilan komprehensif lain, investment in government bonds, investment in
yang terdiri dari investasi pada surat utang shares of stock, and financial assets measured at
negara, investasi saham, dan aset keuangan fair value through profit or loss, which comprise of
yang diukur pada nilai wajar melalui laba rugi, investment in mutual funds.
yang terdiri dari investasi reksa dana.
- Aset keuangan diukur pada biaya - Financial assets at amortised cost
perolehan diamortisasi
Klasifikasi ini berlaku untuk instrumen This classification applies to debt
utang yang dikelola dalam model bisnis instruments which are held under a “hold to
“dimiliki untuk mendapatkan arus kas” dan collect” business model and which have
memiliki arus kas yang memenuhi kriteria cash flows that meet the “solely payments of
“semata-mata dari pembayaran pokok dan principal and interest” (“SPPI”) criteria.
bunga”.
23
Page 140
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
i. Instrumen keuangan (lanjutan) i. Financial instruments (continued)
(i) Aset keuangan (lanjutan) (i) Financial assets (continued)
Pengakuan dan pengukuran awal (lanjutan) Initial recognition and measurement (continued)
- Aset keuangan diukur pada biaya - Financial assets at amortised cost
perolehan diamortisasi (lanjutan) (continued)
Pada pengakuan awal, aset keuangan At initial recognition, financial assets that do
yang tidak memiliki komponen pendanaan not have a significant financing component
yang signifikan, diakui sebesar harga are recognised at their transaction price.
transaksi. Aset keuangan lainnya awalnya Other financial assets are initially recognised
diakui sebesar nilai wajar dikurangi biaya at fair value less related transaction costs.
transaksi yang terkait. Aset keuangan ini They are subsequently measured at
selanjutnya diukur sebesar biaya perolehan amortised cost using the effective interest
diamortisasi menggunakan metode suku method. Any gains or losses on
bunga efektif. Keuntungan atau kerugian derecognition or modification of a financial
pada penghentian atau modifikasi aset asset held at amortised cost are recognised
keuangan yang dicatat yang dicatat pada in profit or loss.
biaya perolehan diamortisasi diakui pada
laba rugi.
- Aset keuangan diukur pada FVTOCI - Financial assets at FVTOCI
Klasifikasi ini berlaku untuk instrumen This classification applies to debt
utang yang dikelola dengan model bisnis instruments that are held under a business
yang bertujuan untuk memiliki aset model where they are held for collection of
keuangan dalam rangka mendapatkan arus contractual cash flows and also for sale
kas kontraktual dan menjual dan di mana (“collect and sell”) and which have cash
arus kasnya memenuhi kriteria “semata- flows that meet the “solely payments of
mata dari pembayaran pokok dan bunga”. principal and interest” criteria.
Perubahan nilai wajar aset keuangan ini All movements in the fair value of these
dicatat pada penghasilan komprehensif financial assets are taken through other
lain, kecuali pengakuan keuntungan atau comprehensive income, except for the
kerugian penurunan nilai, pendapatan recognition of impairment gains or losses,
bunga (termasuk biaya transaksi interest (including transaction costs by
menggunakan metode EIR), keuntungan revenue applying the effective interest
atau kerugian yang timbul dari penghentian method), gains or losses arising on
dan keuntungan dan kerugian dari selisih derecognition and foreign exchange gains
kurs diakui pada laba rugi. Ketika aset and losses which are recognised in profit or
keuangan dihentikan, keuntungan atau loss. When the financial asset is
kerugian nilai wajar kumulatif yang derecognised, the cumulative fair value
sebelumnya diakui pada penghasilan gains or losses previously recognised in
komprehensif lain direklasifikasi pada laba other comprehensive income is reclassified
rugi. to profit or loss.
24
Page 141
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
i. Instrumen keuangan (lanjutan) i. Financial instruments (continued)
(i) Aset keuangan (lanjutan) (i) Financial assets (continued)
Pengakuan dan pengukuran awal (lanjutan) Initial recognition and measurement (continued)
- Aset keuangan diukur pada FVTPL - Financial assets at FVTPL
Aset yang tidak memenuhi kriteria untuk Assets that do not meet the criteria for
biaya perolehan diamortisasi atau nilai amortised cost or FVTOCI are measured at
wajar melalui penghasilan komprehensif fair value through profit or loss. A gain or
lain diukur pada nilai wajar melalui laporan loss on investment in mutual funds that is
laba rugi. Keuntungan atau kerugian dari subsequently measured at fair value through
investasi reksa dana yang selanjutnya profit or loss and is not part of a hedging
diukur pada nilai wajar melalui laporan laba relationship is recognised in profit or loss
rugi dan bukan merupakan bagian dari and presented net in the statement of profit
hubungan lindung nilai, diakui dalam or loss within other gains/(losses) in the
laporan laba rugi dan disajikan bersih period in which it arises.
dalam laporan laba rugi di dalam
keuntungan/(kerugian) lainnya dalam
periode kemunculannya.
Penghentian pengakuan Derecognition
Aset keuangan dihentikan pengakuannya ketika: A financial asset is derecognised when:
- hak untuk menerima arus kas dari aset - the rights to receive cash flows from the
telah kedaluwarsa; atau asset have expired; or
- Grup telah mengalihkan haknya untuk - the Group has transferred its rights to
menerima arus kas dari aset atau telah receive cash flows from the asset or has
mengasumsikan kewajiban untuk assumed an obligation to pay the received
membayar arus kas yang diterima secara cash flows in full without material delay to a
penuh tanpa penundaan material kepada third party under a ‘pass-through’
pihak ketiga berdasarkan pengaturan arrangement; and either (a) the Group has
‘pass-through’; dan salah satu (a) Grup transferred substantially all the risks and
telah mengalihkan secara substansial rewards of the asset, or (b) the Group has
semua risiko dan manfaat aset, atau (b) neither transferred nor retained substantially
Grup tidak mengalihkan atau memiliki all the risks and rewards of the asset, but
secara substansial seluruh risiko dan has transferred control of the asset.
manfaat aset, tetapi telah mengalihkan
pengendalian aset.
Penurunan nilai Impairment
Grup menilai berdasarkan basis forward looking The Group assesses on a forward-looking basis,
untuk mengukur kerugian kredit ekspektasian the expected credit losses (“ECL”) associated with
(“ECL”) terhadap aset keuangan yang diukur its financial assets carried at amortised cost and
pada biaya perolehan diamortisasi dan dan nilai FVTOCI. The impairment method applied
wajar melalui penghasilan komprehensif lain. depends on whether there has been a significant
Metode penurunan nilai dilakukan dengan increase in credit risk.
mempertimbangkan apakah risiko kredit telah
meningkat secara signifikan.
25
Page 142
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
i. Instrumen keuangan (lanjutan) i. Financial instruments (continued)
(i) Aset keuangan (lanjutan) (i) Financial assets (continued)
Penurunan nilai (lanjutan) Impairment (continued)
Pada setiap periode pelaporan, Grup menilai At each reporting date, the Group assesses
apakah risiko kredit dari instrumen keuangan whether the credit risk on a financial instrument
telah meningkat secara signifikan sejak has increased significantly since initial recognition.
pengakuan awal. Ketika melakukan penilaian, When making the assessment, the Group uses
Grup menggunakan perubahan atas risiko gagal the change in the risk of a default occurring over
bayar yang terjadi sepanjang perkiraan usia the expected life of the financial instrument
instrumen keuangan daripada perubahan atas instead of the change in the amount of ECL. To
jumlah ECL. Dalam melakukan penilaian, Grup make that assessment, the Group compares the
membandingkan antara risiko gagal bayar yang risk of a default occurring on the financial
terjadi atas instrumen keuangan pada saat instrument as at the reporting date with the risk of
periode pelaporan dengan risiko gagal bayar a default occurring on the financial instrument as
yang terjadi atas instrumen keuangan pada saat at the date of initial recognition and considers
pengakuan awal dan mempertimbangkan reasonable and supportable information, that is
kewajaran serta ketersediaan informasi yang available without undue cost or effort at the
tersedia pada saat tanggal pelaporan terkait reporting date about past events, current
dengan kejadian masa lalu, kondisi terkini dan conditions and forecasts of future economic
perkiraan atas kondisi ekonomi di masa depan, conditions, that is indicative of significant
yang mengindikasikan kenaikan risiko kredit increases in credit risk since initial recognition.
sejak pengakuan awal.
Untuk piutang usaha dan piutang lain-lain tanpa For trade receivables and other receivables
komponen pendanaan yang signifikan, Grup without significant financing components, the
menerapkan pendekatan yang disederhanakan Group applies the simplified approach permitted
yang diizinkan oleh PSAK 109, yang by PSAK 109, which requires expected lifetime
mensyaratkan ekspektasi kerugian seumur losses to be recognised from the initial recognition
hidup harus diakui sejak pengakuan awal aset of the financial assets.
keuangan.
Grup menganggap aset keuangan gagal bayar The Group considers a financial asset in default
ketika pembayaran kontraktual telah lewat 90 when contractual payments are 90 days past due.
hari. Namun, dalam kasus tertentu, Grup juga However, in certain cases, the Group may also
dapat mempertimbangkan aset keuangan consider a financial asset to be in default when
mengalami gagal bayar ketika informasi internal internal or external information indicates that the
atau eksternal menunjukkan bahwa Grup tidak Group is unlikely to receive the outstanding
mungkin menerima jumlah kontraktual yang contractual amounts in full before taking into
terutang secara penuh sebelum account any credit enhancements held by the
memperhitungkan setiap peningkatan kredit Group. A financial asset is written off when there
yang dimiliki oleh Grup. Aset keuangan is no reasonable expectation of recovering the
dihapuskan jika tidak ada ekspektasi yang wajar contractual cash flows.
untuk memulihkan arus kas kontraktual.
Kas dan setara kas dan investasi jangka pendek Cash and cash equivalents and short-term
juga tunduk pada persyaratan penurunan nilai investments are also subject to impairment
PSAK 109. ECL didasarkan pada rating kredit requirements of PSAK 109. The ECL rates are
bank untuk mengestimasi kemungkinan gagal based on the bank’s credit rating to estimate the
bayar selama jangka waktu tertentu dan probability of default over a given time horizon
menggunakan referensi Basel II yang digunakan and utilise the commonly used Basel II reference
secara umum untuk mengestimasi kerugian to estimate the losses arising on default.
yang muncul dari gagal bayar.
26
Page 143
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
i. Instrumen keuangan (lanjutan) i. Financial instruments (continued)
(ii) Liabilitas keuangan (ii) Financial liabilities
Liabilitas keuangan diklasifikasikan sebagai Financial liabilities are classified as follows:
berikut: liabilitas keuangan yang diukur pada financial liabilities at fair value through profit or
nilai wajar melalui laba rugi dan liabilitas loss and financial liabilities at amortised cost.
keuangan yang diukur pada biaya perolehan
diamortisasi.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the Group
Grup hanya memiliki liabilitas keuangan yang only had financial liabilities measured at amortised
diukur sebesar biaya perolehan diamortisasi, cost, which comprise short-term bank loans, trade
yang terdiri dari pinjaman bank jangka pendek, payables, other payables, accrued expenses,
utang usaha, utang lain-lain, beban akrual, lease liabilities and customer guarantee.
liabilitas sewa, dan uang jaminan pelanggan.
Setelah pengakuan awal, yaitu pada nilai wajar After initial recognition which is at fair value plus
ditambah biaya transaksi, Grup mengukur transaction costs, the Group measures all
seluruh liabilitas keuangan pada biaya financial liabilities at amortised cost using the
perolehan diamortisasi dengan menggunakan effective interest method. A financial liability is
metode suku bunga efektif. Liabilitas keuangan derecognised when the obligation under the
tidak diakui ketika liabilitas keuangan telah liability is discharged or cancelled.
dilepaskan atau dibatalkan.
(iii) Saling hapus instrumen keuangan (iii) Offsetting of financial instruments
Aset keuangan dan liabilitas keuangan Financial assets and liabilities are offset and the
disalinghapuskan dan jumlah netonya net amount is reported in the statement of
dilaporkan pada laporan posisi keuangan ketika financial position when there is a legally
terdapat hak yang berkekuatan hukum untuk enforceable right to offset the recognised amounts
melakukan saling hapus atas jumlah yang telah and there is an intention to settle on a net basis,
diakui tersebut dan adanya niat untuk or realise the asset and settle the liability
menyelesaikan secara neto, atau untuk simultaneously.
merealisasikan aset dan menyelesaikan liabilitas
secara bersamaan.
Hak saling hapus tidak kontinjen atas peristiwa The legally enforceable right must not be
di masa depan dan dapat dipaksakan secara contingent on future events and must be
hukum dalam situasi bisnis yang normal dan enforceable in the normal course of business and
dalam peristiwa gagal bayar, atau peristiwa in the event of default in solvency or bankruptcy of
kepailitan atau kebangkrutan Grup atau pihak the Group or the counterparty.
lawan.
j. Kas dan setara kas j. Cash and cash equivalents
Pada laporan arus kas konsolidasian, kas dan setara In the consolidated statement of cash flows, cash and
kas termasuk kas, kas di bank, dan deposito cash equivalents consist of cash on hand, cash in
berjangka yang jatuh tempo dalam jangka waktu tiga banks, and time deposits with original maturity periods
bulan atau kurang sejak tanggal perolehan, yang of three months or less since the acquisition date,
tidak digunakan sebagai jaminan atau tidak dibatasi which are not pledged as collateral nor restricted for
penggunaannya dan cerukan. Setara kas use and bank overdrafts. Cash equivalents are defined
didefinisikan sebagai investasi jangka pendek dan as short-term, highly liquid investments that are readily
sangat likuid yang dapat dikonversi ke sejumlah kas convertible into known amounts of cash and which are
yang telah diketahui dan tidak memiliki risiko subject to insignificant risk of changes in value. In the
perubahan nilai yang signifikan. Pada laporan posisi consolidated statement of financial position, bank
keuangan konsolidasian, cerukan disajikan bersama overdraft is shown within bank loans in current
sebagai pinjaman bank dalam liabilitas jangka liabilities.
pendek.
27
Page 144
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
j. Kas dan setara kas (lanjutan) j. Cash and cash equivalents (continued)
Deposito berjangka dengan jangka waktu lebih dari 3 Time deposits with maturity period more than 3 (three)
(tiga) bulan sampai 12 (dua belas) bulan disajikan months up to 12 (twelve) months are presented as
sebagai investasi jangka pendek dalam laporan short-term investments in the consolidated statement
posisi keuangan konsolidasian. of financial position.
k. Piutang usaha dan piutang lain-lain k. Trade and other receivables
Piutang usaha merupakan jumlah yang terutang dari Trade receivables are amounts due from customers for
pelanggan atas penjualan barang dagangan atau merchandise sold or services performed in the ordinary
jasa dalam kegiatan usaha normal. Piutang lain-lain course of business. Other receivables are receivables
merupakan saldo piutang yang timbul dari transaksi arising from transactions outside of the ordinary course
di luar kegiatan usaha biasa. of business.
Piutang usaha dan piutang lain-lain pada awalnya Trade and other receivables are recognised initially at
diakui sebesar nilai wajar dan selanjutnya diukur fair value and subsequently measured at amortised
pada biaya perolehan yang diamortisasi dengan cost using the effective interest method, if the impact of
menggunakan metode suku bunga efektif, apabila discounting is significant, less any provision for
dampak pendiskontoan signifikan, dikurangi provisi impairment.
atas penurunan nilai.
Jika piutang diperkirakan dapat ditagih dalam waktu If collection of the receivables is expected in one year
satu tahun atau kurang (atau dalam siklus operasi or less (or in the normal operating cycle of the business
normal jika lebih panjang), piutang diklasifikasikan if longer), they are classified as current assets. If not,
sebagai aset lancar. Jika tidak, piutang disajikan they are presented as non-current assets.
sebagai aset tidak lancar.
Grup menerapkan pendekatan yang disederhanakan The Group applies the PSAK 109 simplified approach
menurut PSAK 109 untuk mengukur ECL yang to measure ECL which uses a lifetime ECL for all trade
menggunakan kerugian seumur hidup untuk semua and other receivables. To measure the ECL, trade and
piutang usaha dan piutang lain-lain. Untuk mengukur other receivables have been grouped based on shared
ECL, piutang usaha dan piutang lain-lain credit risk characteristics and the receivables days past
dikelompokkan berdasarkan karakteristik risiko kredit due.
bersama dan piutang yang telah lewat jatuh tempo.
Lihat Catatan 3i untuk penurunan nilai aset Refer to Note 3i for impairment of financial assets,
keuangan, termasuk piutang usaha dan piutang lain- including trade and other receivables.
lain.
Jumlah kerugian penurunan nilai diakui laba rugi. The amount of the impairment loss is recognised in
Ketika piutang yang mana cadangan penurunan nilai profit or loss. When a receivable for which an
nya telah diakui menjadi tidak dapat terkoleksi di impairment allowance had been recognised becomes
periode selanjutnya, piutang tersebut dihapus- uncollectible in a subsequent period, it is written off
bukukan terhadap akun pencadangan nya. against the allowance account. Subsequent recoveries
Pemulihan kemudian atas jumlah yang sebelumnya of amounts previously written-off are credited against
dihapus-bukukan dikreditkan terhadap laba rugi. profit or loss.
28
Page 145
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
l. Persediaan l. Inventories
Persediaan dinyatakan sebesar nilai yang lebih Inventories are stated at the lower of cost or net
rendah antara biaya perolehan dan nilai realisasi realisable value.
neto.
Harga perolehan ditentukan dengan menggunakan Cost is determined using the weighted average
metode rata-rata tertimbang. Harga perolehan barang method. The cost of finished goods and work in
jadi dan pekerjaan dalam proses terdiri dari bahan progress comprises raw materials, direct labour, other
baku, tenaga kerja langsung, biaya langsung lainnya direct costs and related production overheads (based
dan biaya overhead produksi (berdasarkan kapasitas on normal operating capacity). It excludes borrowing
normal operasi). Persediaan tidak mencakup biaya costs. Net realisable value is the estimated selling price
pinjaman. Nilai realisasi neto adalah estimasi harga in the ordinary course of business less the estimated
penjualan dalam kegiatan usaha biasa, dikurangi costs of completion and the estimated costs necessary
estimasi biaya penyelesaian dan estimasi biaya yang to make the sale.
dibutuhkan untuk melakukan penjualan.
Penyisihan untuk persediaan lambat bergerak dan A provision for slow-moving inventories and
usang dibuat berdasarkan telaah manajemen setiap obsolescence is made based on management’s review
akhir tahun. at the end of the year.
m. Aset tetap m. Fixed assets
Aset tetap pada awalnya diakui sebesar biaya Fixed assets are initially recognised at cost, which
perolehan, yang terdiri atas harga perolehan dan comprises its purchase price and any additional costs
biaya-biaya tambahan yang dapat diatribusikan directly attributable to bringing the asset to its working
langsung untuk membawa aset ke lokasi dan kondisi condition and location for its intended use. Such cost
yang diinginkan agar aset siap digunakan sesuai also includes the initial estimation of the costs of
maksud manajemen. Biaya perolehan tersebut juga dismantling and removing the fixed assets and
termasuk estimasi awal atas biaya pembongkaran restoring the sites and the cost of replacing part of
dan pemindahan aset tetap dan pemulihan lokasi dan such fixed assets when that cost is incurred, if the
biaya untuk mengganti komponen dari aset tetap recognition criteria are met.
pada saat penggantian, bila kriteria pengakuan
terpenuhi.
Setelah pengakuan awal, aset tetap dinyatakan pada Subsequent to initial recognition, fixed assets are
biaya perolehan dikurangi akumulasi penyusutan dan carried at cost less accumulated depreciation and
kerugian penurunan nilai, jika ada. impairment losses, if any.
Aset tetap, kecuali tanah, didepresiasi Fixed assets, except land, are depreciated using the
menggunakan metode garis lurus berdasarkan straight-line method over their expected economic
estimasi masa manfaat aset tetap dengan tahun useful lives at the following years:
sebagai berikut:
Tahun/Years
Bangunan dan prasarana 10 - 30 Buildings and improvements
Mesin dan peralatan 4 - 25 Machinery and equipment
Instalasi listrik 4 - 20 Electricity installations
Kendaraan 4 - 10 Vehicles
Peralatan kantor 4 - 15 Office equipment
29
Page 146
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
m. Aset tetap (lanjutan) m. Fixed assets (continued)
Biaya pengurusan legal hak atas tanah ketika tanah Costs associated with the acquisition of legal right of
diperoleh pertama kali diakui sebagai bagian dari land when the land was first acquired are recognized
biaya perolehan aset tanah. Biaya pengurusan as part of the cost of land. Costs associated with the
perpanjangan atau pembaharuan legal hak atas extension or renewal of legal right of land are
tanah diakui sebagai aset takberwujud dan recognized as an intangible asset and amortized over
diamortisasi sepanjang umur hukum hak atau umur the legal life of the land rights or economic life of the
ekonomis tanah, mana yang lebih pendek. land, whichever is shorter.
Grup menganalisis fakta dan keadaan untuk masing- The Group analyzes the facts and circumstances for
masing jenis hak atas tanah dalam menentukan each type of land rights in determining the accounting
akuntansi untuk masing-masing hak atas tanah for each of these land rights so that it can accurately
tersebut sehingga dapat merepresentasikan dengan represent an underlying economic event or transaction.
tepat suatu kejadian atau transaksi ekonomik yang If the land rights do not transfer control of the
mendasarinya. Jika hak atas tanah tersebut tidak underlying assets to the Group, but gives the rights to
mengalihkan pengendalian atas aset pendasar use the underlying assets, the Group applies the
kepada Grup, melainkan mengalihkan hak untuk accounting treatment of these transactions as leases
menggunakan aset pendasar, Grup menerapkan under PSAK 116, “Leases”. If land rights are
perlakuan akuntansi atas transaksi tersebut sebagai substantially similar to land purchases, the Group
sewa berdasarkan PSAK 116, “Sewa”. Jika hak atas applies PSAK 216, “Property, Plant and Equipment”.
tanah secara substansi menyerupai pembelian tanah,
maka Grup menerapkan PSAK 216, “Aset Tetap”.
Tanah dicatat pada nilai revaluasian. Revaluasi Land is stated at its revalued amount. Revaluations are
dilakukan dengan keteraturan yang cukup berkala performed with sufficient regularity such that the
untuk memastikan bahwa jumlah yang tercatat tidak carrying amount is not materially different from that
berbeda secara material dari jumlah yang ditentukan which would be determined using fair values at the
dengan menggunakan nilai wajar pada tanggal consolidated statement of financial position.
laporan posisi keuangan konsolidasian.
Surplus revaluasi aset tetap yang termasuk dalam The revaluation surplus included in equity is transferred
ekuitas dipindahkan ke dalam saldo laba pada saat to retained earnings upon termination/disposal of
penghentian/pelepasan aset oleh entitas. assets by the entity. Transfer of revaluation surplus to
Pemindahan surplus revaluasi ke saldo laba tidak retained earnings is not made through profit or loss.
dilakukan melalui laba rugi.
Nilai tercatat atas aset tetap diestimasi apabila The carrying amount of fixed assets is estimated
terdapat peristiwa atau perubahan keadaan yang whenever events or changes in circumstances indicate
memberikan indikasi bahwa nilai perolehan mungkin that its carrying amount may not be fully recoverable.
tidak sepenuhnya dapat diperoleh kembali.
Jumlah tercatat aset tetap dihentikan pengakuannya An item of fixed assets is derecognised upon disposal
pada saat dilepaskan atau saat tidak ada manfaat or when no future economic benefits are expected from
ekonomis masa depan yang diharapkan dari its use or disposal. Any gain or loss arising on the
penggunaan atau pelepasannya. Laba atau rugi yang derecognition of the asset (calculated as the difference
timbul dari penghentian pengakuan aset (dihitung between the net disposal proceeds and the carrying
sebagai perbedaan antara jumlah neto hasil amount of the asset) is included in profit or loss in the
pelepasan dan jumlah tercatat dari aset) dimasukkan year the asset is derecognised.
dalam laba rugi pada tahun aset tersebut dihentikan
pengakuannya.
[
30
Page 147
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
m. Aset tetap (lanjutan) m. Fixed assets (continued)
Pada setiap periode pelaporan, nilai residu, masa The asset’s residual values, useful lives and methods
manfaat dan metode penyusutan direviu, dan jika of depreciation are reviewed and adjusted
sesuai dengan keadaan, disesuaikan secara prospectively, if appropriate, at each reporting period.
prospektif.
Aset dalam penyelesaian dinyatakan sebesar harga Construction in progress is stated at cost. The
perolehan. Akumulasi biaya perolehan akan accumulated cost will be transferred to the appropriate
dipindahkan ke masing-masing akun aset tetap pada fixed asset account when the construction is completed
saat aset tetap tersebut telah selesai dikerjakan dan and the asset is ready for its intended use.
siap untuk digunakan sesuai tujuannya.
Beban pemeliharaan dan perbaikan dibebankan pada Repairs and maintenance expenses are expensed to
laba rugi pada saat terjadinya. Beban pemugaran dan profit or loss as incurred. The cost of major renovation
penambahan dalam jumlah besar dikapitalisasi and restoration is included in the carrying amount of
kepada nilai tercatat aset tetap terkait bila besar the related fixed asset when it is probable that future
kemungkinan bagi Grup manfaat ekonomi masa economic benefits in excess of the originally assessed
depan menjadi lebih besar dari standar kinerja awal standard of performance of the existing asset will flow
yang ditetapkan sebelumnya dan disusutkan to the Group and is depreciated over the remaining
sepanjang sisa masa manfaat aset tetap terkait, jika useful life of the related asset, if any.
ada.
n. Sewa n. Leases
Penentuan apakah suatu perjanjian merupakan, atau The determination of whether an arrangement is, or
mengandung, sewa dibuat berdasarkan substansi contains, a lease is made based on the substance of
perjanjian itu sendiri dan penilaian apakah the arrangement and assessment of whether fulfillment
pemenuhan atas perjanjian bergantung dari of the arrangement is dependent on the use of a
penggunaan aset tertentu atau aset, dan apakah specific asset or assets, and the arrangement conveys
perjanjian memberikan hak untuk menggunakan aset. a right to use the asset.
Sebagai Penyewa As Lessee
Grup menerapkan satu pendekatan pengakuan dan The Group applies a single recognition and
pengukuran untuk semua sewa, kecuali untuk sewa measurement approach for all leases, except for short-
jangka pendek dan sewa aset bernilai-rendah. Grup term leases and leases of low-value assets. The Group
mengakui liabilitas sewa untuk melakukan recognises lease liabilities to make lease payments
pembayaran sewa dan aset hak-guna yang and right-of-use assets representing the right to use
merupakan hak untuk menggunakan aset pendasar. the underlying assets.
Aset hak-guna Right-of-use assets
Aset hak-guna diukur pada biaya perolehan, dimana The right-of-use asset is initially measured at cost,
meliputi jumlah pengukuran awal liabilitas sewa yang which comprises the initial amount of the lease liability
disesuaikan dengan pembayaran sewa yang adjusted for any lease payment made at or before the
dilakukan pada atau sebelum tanggal permulaan, commencement date, plus any initial direct cost
ditambah dengan biaya langsung awal yang incurred and an estimate of costs to dismantle and
dikeluarkan dan estimasi biaya yang akan remove the underlying asset or to restore the
dikeluarkan untuk membongkar dan memindahkan underlying asset to the condition required by the terms
aset pendasar atau untuk merestorasi aset pendasar and conditions of the lease, less any lease incentives
ke kondisi yang disyaratkan dan ketentuan sewa, received.
dikurangi dengan insentif sewa yang diterima.
31
Page 148
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
n. Sewa (lanjutan) n. Leases (continued)
Sebagai Penyewa (lanjutan) As Lessee (continued)
Aset hak-guna (lanjutan) Right-of-use assets (continued)
Aset hak-guna kemudian disusutkan menggunakan The right-of-use asset is subsequently depreciated
metode garis lurus dari tanggal permulaan hingga using the straight-line method from the commencement
tanggal yang lebih awal antara akhir umur manfaat date to the earlier of the end of the useful life of the
aset hak-guna atau akhir masa sewa. Jika Grup right-of-use asset or the end of the lease term. If the
cukup yakin untuk melaksanakan opsi pembelian, Group is reasonably certain to exercise a purchase
aset hak-guna disusutkan selama masa manfaat aset option, the right-of-use asset is depreciated over the
yang mendasarinya. Selain itu, aset hak-guna juga underlying asset’s useful life. In addition, the right-of-
dikurangkan dengan kerugian penurunan nilai, use asset is reduced by impairment losses, if any, and
apabila ada, dan disesuaikan untuk pengukuran adjusted for certain remeasurements of the lease
kembali tertentu atas liabilitas sewa. liability.
Liabilitas sewa Lease liabilities
Liabilitas sewa diukur pada nilai kini pembayaran The lease liability is initially measured at the present
sewa yang belum dibayar pada tanggal permulaan, value of the lease payments that are not paid at the
didiskontokan dengan menggunakan suku bunga commencement date, discounted using the interest
implisit dalam sewa atau jika suku bunga tersebut rate implicit in the lease or, if that rate cannot be readily
tidak dapat ditentukan, maka menggunakan suku determined, using the incremental borrowing rate.
bunga pinjaman inkremental. Pada umumnya, Grup Generally, the Group uses its incremental borrowing
menggunakan suku bunga pinjaman inkremental rate as the discount rate.
sebagai tingkat bunga diskonto.
Pembayaran sewa yang termasuk dalam pengukuran Lease payments included in the measurement of the
liabilitas sewa meliputi pembayaran tetap, termasuk lease liability comprise fixed payments, including in-
pembayaran tetap secara substansi dikurangi dengan substance fixed payments less any lease incentive
piutang insentif sewa. Pembayaran sewa yang harus receivable. Lease payments to be made under
dilakukan berdasarkan opsi perpanjangan tertentu reasonably certain extension options are also included
juga termasuk dalam pengukuran liabilitas. in the measurement of the liability.
Setiap pembayaran sewa dialokasikan antara Each lease payment is allocated between the liability
liabilitas dan beban keuangan. Utang sewa yang and the finance cost. The corresponding rental
terkait, dikurangi dengan beban keuangan, obligations, net of finance cost, are included in “Lease
dimasukkan ke dalam “Liabilitas sewa”. Elemen liabilities”. The finance cost is charged to profit or loss
bunga dari beban keuangan dibebankan pada laba over the lease period so as to produce a constant
rugi selama periode sewa sehingga menghasilkan periodic rate of interest on the remaining balance of the
tingkat bunga periodik yang konstan untuk saldo liability for each period.
liabilitas yang tersisa pada setiap periode.
Modifikasi sewa Lease modification
Grup mencatat modifikasi sewa sebagai sewa The Group accounts for a lease modification as a
terpisah jika kedua kondisi berikut terpenuhi: separate lease if both condition met:
- modifikasi meningkatkan ruang lingkup sewa - the modification increases the scope of the lease
dengan menambahkan hak untuk menggunakan by adding the right to use one or more underlying
satu atau lebih aset yang mendasarinya; dan assets; and
- pembayaran sewa meningkat sebesar jumlah - the consideration for the lease increases by an
yang setara dengan harga yang berdiri sendiri amount commensurate with the stand-alone price
untuk peningkatan ruang lingkup dan setiap for the increase in scope and any appropriate
penyesuaian yang tepat atas harga yang berdiri adjustments to that stand-alone price to reflect the
sendiri tersebut untuk mencerminkan keadaan circumstances of the particular contract.
kontrak tertentu.
32
Page 149
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
n. Sewa (lanjutan) n. Leases (continued)
Sebagai Penyewa (lanjutan) As Lessee (continued)
Modifikasi sewa (lanjutan) Lease modification (continued)
Untuk modifikasi sewa yang tidak dicatat sebagai For a lease modification that is not accounted for as a
sewa terpisah, pada tanggal efektif modifikasi sewa, separate lease, at the effective date of the lease
Grup: modification, the Group:
- mengukur kembali dan mengalokasikan - remeasures and allocate the consideration in the
pembayaran dalam kontrak yang dimodifikasi. modified contract.
- menentukan masa sewa dari sewa yang - determines the lease term of the modified lease.
dimodifikasi.
- mengukur kembali liabilitas sewa dengan - remeasures the lease liability by discounting the
mendiskontokan pembayaran sewa yang direvisi revised lease payments using a revised discount
menggunakan tingkat diskonto yang direvisi rate on the basis of the remaining lease term and
berdasarkan sisa masa sewa dan sisa the remaining lease payment with a corresponding
pembayaran sewa dengan penyesuaian yang adjustment to the right-of-use assets. The revised
sesuai dengan aset hak-guna. Tingkat diskonto discount rate is determined as the Group’s
yang direvisi ditentukan sebagai suku bunga incremental borrowing rate at the effective date of
pinjaman inkremental Grup pada tanggal efektif the modification.
modifikasi.
- menurunkan nilai tercatat aset hak-guna untuk - decreases the carrying amount of the right- of-use
mencerminkan penghentian sebagian atau asset to reflect the partial or full termination of the
seluruh sewa untuk modifikasi sewa yang lease for lease modifications that decrease the
mengurangi ruang lingkup sewa. Grup mengakui scope of the lease. The Group recognises in profit
dalam laporan laba rugi setiap keuntungan atau or loss any gain or loss relating to the partial or full
kerugian yang berkaitan dengan penghentian termination of the lease, and
sebagian atau seluruh sewa, dan
- membuat penyesuaian yang sesuai dengan aset - makes a corresponding adjustment to the right-of-
hak-guna untuk semua modifikasi sewa lainnya. use asset for all other lease modifications.
Sewa jangka pendek dan sewa aset bernilai rendah Short-term leases and leases of low-value assets
Grup memilih untuk tidak mengakui aset hak-guna The Group elected not to recognise right-of-use assets
dan liabilitas sewa untuk sewa jangka pendek yang and lease liabilities for short-term leases which have a
memiliki masa sewa 12 bulan atau kurang sejak lease term of 12 months or less from the
tanggal permulaan dan tidak mengandung opsi commencement date and do not contain a purchase
pembelian dan aset bernilai-rendah. Pembayaran option and low-value assets. Lease payments on short-
sewa untuk sewa jangka pendek dan sewa atas aset term leases and leases of low-value assets are
bernilai rendah diakui sebagai beban dengan metode recognised as expense on a straight-line basis over the
garis lurus selama masa sewa. lease term.
Sebagai Pesewa As Lessor
Pada sewa di mana Grup tidak mengalihkan secara Leases in which the Group does not transfer
substansial semua risiko dan manfaat kepemilikan substantially all the risks and rewards of ownership of
suatu aset diklasifikasikan sebagai sewa operasi. an asset are classified as operating leases. Rental
Penghasilan sewa dari sewa operasi diakui secara income from operating leases is recognized on a
garis lurus selama masa sewa yang relevan. Biaya straight-line basis over the terms of the relevant lease.
langsung awal yang dikeluarkan untuk melakukan Initial direct costs incurred in negotiating and arranging
negosiasi dan pengaturan sewa operasi ditambahkan an operating lease are added to the carrying amount of
ke nilai tercatat dari aset sewaan dan diakui selama the leased asset and recognised over the lease term
masa sewa dengan dasar yang sama dengan on the same basis as rental income. Contingent rents
pendapatan sewa. Sewa kontinjen diakui sebagai are recognised as revenue in the period in which they
pendapatan pada periode perolehan. are earned.
33
Page 150
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
o. Properti investasi o. Investment properties
Properti yang dimiliki untuk disewakan dalam jangka Property that is held for long-term rental yield or for
panjang atau untuk kenaikan harga atau keduanya, capital appreciation or both, and that is not occupied by
dan yang tidak ditempati oleh entitas-entitas dalam the entities within the Group, is classified as investment
Grup, diklasifikasikan sebagai properti investasi. property. Investment property also includes property
Properti investasi juga mencakup properti yang that is being constructed or developed for future use as
sedang dikonstruksi atau dikembangkan untuk an investment property.
digunakan sebagai properti investasi di masa depan.
Properti investasi awalnya diukur berdasarkan Investment property is measured initially at its cost,
biayanya, termasuk biaya transaksi yang terkait dan including related transaction costs and where
biaya pinjaman yang berlaku. applicable borrowing costs.
Setelah pengakuan awal, properti investasi dicatat After initial recognition, investment property is carried
sebesar nilai wajarnya. Properti investasi yang at fair value. Investment property that is being
sedang dalam pengembangan ulang untuk redeveloped for continuing use as an investment
penggunaan lebih lanjut sebagai properti investasi property or for which the market has become less
atau ketika pasar menjadi kurang aktif tetap dicatat active continues to be measured at fair value.
sebesar nilai wajarnya. Properti investasi dalam Investment property under construction is measured at
konstruksi diukur menggunakan nilai wajar jika nilai fair value if the fair value is considered to be reliably
wajar dianggap dapat diukur secara andal. Properti determinable. Investment properties under construction
investasi dalam konstruksi yang nilai wajarnya tidak for which the fair value cannot be determined reliably,
dapat diukur secara andal, tetapi Perusahaan but for which the Company expects that the fair value
mengharapkan nilai wajarnya dapat diukur secara of the property will be reliably determinable when
andal ketika konstruksi selesai, diukur senilai biaya construction is completed, are measured at cost less
dikurangi penurunan nilai sampai nilai wajarnya dapat impairment until the fair value becomes reliably
diukur secara andal atau konstruksi diselesaikan - determinable or construction is completed - whichever
yang mana yang lebih awal. is earlier.
Properti investasi Grup terdiri dari: Investment properties of the Group consist of the
following:
(i) Tanah (i) Land
Merupakan tanah yang belum ditentukan tujuan Represents land that its intended use has not
penggunaannya dan tidak untuk digunakan been determined yet and is not for use in the
dalam produksi atau penyediaan barang atau production or supply of goods or services or for
jasa untuk tujuan administratif atau dijual dalam administrative purposes or sale in the ordinary
kegiatan usaha sehari-hari. course of business.
(ii) Bangunan (ii) Building
Merupakan gedung perkantoran yang Represents office buildings rented to other
disewakan kepada pihak lain. parties.
Nilai wajar didasarkan kepada harga pasar aktif, Fair value is based on active market prices, adjusted, if
disesuaikan, jika perlu, dengan perbedaan alam, necessary, for differences in the nature, location or
lokasi atau kondisi dari aset tersebut. Jika informasi condition of the specific asset. If this information is not
tersebut tidak tersedia, Grup menggunakan metode available, the Group uses alternative valuation
penilaian alternatif, seperti harga terbaru di pasar methods, such as recent prices on less active markets
yang kurang aktif atau proyeksi arus kas yang or discounted cash flow projections. Valuations are
didiskontokan. Penilaian dilakukan pada tanggal performed as of the financial position date by
neraca oleh penilai ahli dengan kualifikasi yang diakui professional valuers who hold recognised and relevant
dan relevan dan memiliki pengalaman terbaru atas professional qualifications and have recent experience
lokasi dan kategori dari properti investasi dinilai. in the location and category of the investment property
Penilaian ini membentuk dasar untuk nilai tercatat being valued. These valuations form the basis for the
pada laporan keuangan konsolidasian. Perubahan carrying amounts in the consolidated financial
nilai wajar diakui di laba rugi sebagai bagian dari statements. Changes in the fair value are recognised in
“Penghasilan (beban) lain-lain - neto”. profit or loss as part of “Other income (expenses) -
net”.
34
Page 151
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
o. Properti investasi (lanjutan) o. Investment properties (continued)
Properti investasi dihentikan pengakuannya baik saat Investment properties are derecognised either when
dilepas atau ketika tidak digunakan lagi secara they have been disposed of or when they are
permanen dan tidak memiliki manfaat ekonomis permanently withdrawn from use and no future
masa depan yang diharapkan dari pelepasannya. economic benefit is expected from their disposal. The
Selisih antara hasil neto pelepasan dan nilai tercatat difference between the net disposal proceeds and the
aset diakui dalam laba rugi pada periode terjadinya carrying amount of the asset is recognised in profit or
penghentian pengakuan. loss in the period of derecognition.
Pengalihan dilakukan ke (atau dari) properti investasi Transfers are made to (or from) investment property
hanya jika terdapat perubahan penggunaan. Untuk only when there is a change in use. For a transfer from
pengalihan dari properti investasi ke properti yang investment property to owner-occupied property, the
digunakan sendiri, biaya yang dianggap untuk deemed cost for subsequent accounting is the fair
akuntansi selanjutnya adalah nilai wajar pada tanggal value at the date of change in use. If an owner-
perubahan penggunaan. Jika properti yang occupied property becomes an investment property,
digunakan sendiri oleh Grup menjadi properti the Group shall record the investment property in
investasi, Grup mencatat properti tersebut sesuai accordance with the fixed assets policies for owned
dengan kebijakan aset tetap untuk properti yang property and in accordance with leases for property
dimiliki dan sesuai dengan sewa untuk properti yang held by a lessee as a right-of-use asset up to the date
dikuasai oleh penyewa sebagai aset hak-guna of change in use.
sampai dengan saat tanggal terakhir perubahan
penggunaannya.
p. Aset takberwujud p. Intangible assets
Biaya yang terkait dengan pemeliharaan program Costs associated with maintaining computer software
piranti lunak komputer diakui sebagai beban pada programs are recognised as an expense as incurred.
saat terjadinya. Biaya pengembangan yang dapat Development costs that are directly attributable to the
secara langsung diatribusikan kepada desain dan design and testing of identifiable and unique software
pengujian produk piranti lunak yang dapat products controlled by the Group are recognised as
diidentifikasi dan unik yang dikendalikan oleh Grup intangible assets. Computer software development
diakui sebagai aset takberwujud. Biaya costs recognised as assets are amortised over their
pengembangan piranti lunak komputer diakui sebagai estimated useful lives to be within 4 to 20 years.
aset yang diamortisasi selama estimasi masa
manfaat ekonomis antara 4 sampai dengan 20 tahun.
q. Penurunan nilai aset non-keuangan q. Impairment of non-financial assets
Pada setiap akhir periode pelaporan, Grup menilai The Group assesses at each reporting period whether
apakah terdapat indikasi suatu aset mengalami there is an indication that an asset may be impaired. If
penurunan nilai. Jika terdapat indikasi tersebut atau any such indication exists, or when annual impairment
pada saat pengujian penurunan nilai aset diperlukan testing for an asset is required (i.e. an intangible asset
(yaitu aset takberwujud dengan umur manfaat tidak with an indefinite useful life, an intangible asset not yet
terbatas, aset takberwujud yang belum dapat available for use, or goodwill acquired in a business
digunakan, atau goodwill yang diperoleh dalam suatu combination), the Group makes an estimate of the
kombinasi bisnis), maka Grup membuat estimasi asset’s recoverable amount.
jumlah terpulihkan aset tersebut.
35
Page 152
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
q. Penurunan nilai aset non-keuangan (lanjutan) q. Impairment of non-financial assets (continued)
Jumlah terpulihkan yang ditentukan untuk aset An asset’s recoverable amount is the higher of the
individual adalah jumlah yang lebih tinggi antara nilai asset’s or its cash-generating unit’s fair value less
wajar aset atau unit penghasil kas dikurangi biaya costs to sell and its value in use, and is determined for
untuk menjual dengan nilai pakainya, kecuali aset an individual asset, unless the asset does not generate
tersebut tidak menghasilkan arus kas masuk yang cash inflows that are largely independent of those from
sebagian besar independen dari aset atau kelompok other assets or groups of assets. Where the carrying
aset lain. Jika nilai tercatat aset lebih besar daripada amount of an asset exceeds its recoverable amount,
nilai terpulihkannya, maka aset tersebut mengalami the asset is considered impaired and is written down to
penurunan nilai dan nilai tercatat aset diturunkan its recoverable amount and an impairment loss is
menjadi sebesar nilai terpulihkannya dan rugi recognized immediately in profit or loss, unless the
penurunan nilai segera diakui dalam laba rugi, kecuali relevant asset is carried at revalued amount, in which
aset tersebut disajikan pada jumlah revaluasian, di the impairment loss is treated as a revaluation
mana kerugian penurunan nilai diperlakukan sebagai decrease.
penurunan revaluasi.
Dalam menghitung nilai pakai, estimasi arus kas In assessing the value in use, the estimated net future
masa depan neto didiskontokan ke nilai kini dengan cash flows are discounted to their present value using
menggunakan tingkat diskonto sebelum pajak yang a pre-tax discount rate that reflects current market
menggambarkan penilaian pasar terkini atas nilai assessments of the time value of money and the risks
waktu dari uang dan risiko spesifik dari aset. Dalam specific to the asset. In determining fair value less
menentukan nilai wajar dikurangi biaya untuk costs to sell, recent market transactions are taken into
menjual, digunakan harga penawaran pasar terakhir, account, if available. If no such transactions can be
jika tersedia. Jika tidak terdapat transaksi tersebut, identified, an appropriate valuation model is used to
Grup menggunakan model penilaian yang sesuai determine the fair value of the assets. These
untuk menentukan nilai wajar aset. Perhitungan- calculations are corroborated by valuation multiples or
perhitungan ini dikuatkan oleh penilaian berganda other available fair value indicators.
atau indikasi nilai wajar yang tersedia.
Penilaian dilakukan pada akhir setiap periode An assessment is made at each annual reporting
pelaporan tahunan apakah terdapat indikasi bahwa period as to whether there is any indication that
rugi penurunan nilai yang telah diakui dalam periode previously recognized impairment losses recognized
sebelumnya untuk aset selain goodwill mungkin tidak for an asset other than goodwill may no longer exist or
ada lagi atau mungkin telah menurun. Jika indikasi may have decreased. If such indication exists, the
dimaksud ditemukan, maka entitas mengestimasi recoverable amount is estimated.
jumlah terpulihkan aset tersebut.
Kerugian penurunan nilai yang telah diakui dalam A previously recognized impairment loss for an asset
periode sebelumnya untuk aset selain goodwill dibalik other than goodwill is reversed only if there has been a
hanya jika terdapat perubahan asumsi-asumsi yang change in the assumptions used to determine the
digunakan untuk menentukan jumlah terpulihkan aset asset’s recoverable amount since the last impairment
tersebut sejak rugi penurunan nilai terakhir diakui. loss was recognized. If that is the case, the carrying
Dalam hal ini, jumlah tercatat aset dinaikkan ke amount of the asset is increased to its recoverable
jumlah terpulihkannya. Pembalikan tersebut dibatasi amount. The reversal is limited so that the carrying
sehingga jumlah tercatat aset tidak melebihi jumlah amount of the asset does not exceed its recoverable
terpulihkannya maupun jumlah tercatat, neto setelah amount, nor exceeds the carrying amount that would
penyusutan, seandainya tidak ada rugi penurunan have been determined, net of depreciation, had no
nilai yang telah diakui untuk aset tersebut pada tahun impairment loss been recognized for the asset in prior
sebelumnya. Pembalikan rugi penurunan nilai diakui years. Reversal of an impairment loss is recognized in
dalam laporan laba rugi dan penghasilan the consolidated statement of profit or loss and other
komprehensif lain konsolidasian, kecuali aset yang comprehensive income, unless the relevant asset is
bersangkutan disajikan pada jumlah revaluasian, carried at a revalued amount, in which case the
dalam hal ini pembalikan kerugian penurunan nilai reversal of the impairment loss is treated as a
diperlakukan sebagai kenaikan revaluasi. Setelah revaluation increase. After such a reversal, the
pembalikan tersebut, penyusutan aset tersebut depreciation charge on the said asset is adjusted in
disesuaikan di periode mendatang untuk future periods to allocate the asset’s revised carrying
mengalokasikan jumlah tercatat aset yang direvisi, amount, less any residual value, on a systematic basis
dikurangi nilai sisanya, dengan dasar yang sistematis over its remaining useful life.
selama sisa umur manfaatnya.
36
Page 153
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
r. Utang usaha dan utang lain-lain r. Trade and other payables
Utang usaha adalah kewajiban membayar barang Trade payables are obligations to pay for goods or
atau jasa yang telah diterima dalam kegiatan usaha services that have been acquired in the ordinary
biasa dari pemasok. Utang lain-lain merupakan saldo course of business from suppliers. Other payables are
utang yang timbul dari transaksi di luar kegiatan payables arising from transactions outside of the
usaha biasa. ordinary course of business.
Utang usaha dan utang lain-lain diklasifikasikan Trade and other payables are classified as current
sebagai liabilitas jangka pendek jika pembayarannya liabilities if payment is due within one year or less (or in
jatuh tempo dalam waktu satu tahun atau kurang the normal operating cycle of the business if longer). If
(atau dalam siklus operasi normal jika lebih panjang). not, they are presented as non-current liabilities.
Jika tidak, utang tersebut disajikan sebagai liabilitas
jangka panjang.
Utang usaha dan utang lain-lain pada awalnya diakui Trade and other payables are recognised initially at fair
sebesar nilai wajar dan selanjutnya diukur pada biaya value and subsequently measured at amortised cost
perolehan yang diamortisasi dengan menggunakan using the effective interest method.
metode suku bunga efektif.
s. Imbalan kerja s. Employee benefits
Imbalan kerja jangka pendek Short-term employee benefits
Imbalan kerja jangka pendek adalah imbalan kerja Short-term employee benefits are employee benefits
yang jatuh tempo dalam jangka waktu dua belas which are due for payment within twelve months after
bulan setelah akhir periode pelaporan dan diakui the reporting period and recognized when the
pada saat pekerja telah memberikan jasa kerjanya. employees have rendered this related service.
Kewajiban diakui ketika karyawan memberikan jasa Liabilities are recognized when the employee renders
kepada Grup dimana semua perubahan pada nilai services to the Group where all changes in the carrying
bawaan dari kewajiban diakui pada laba rugi. amount of the liability are recognized in profit or loss.
Imbalan pascakerja program imbalan pasti Defined benefit plan
Grup mengakui kewajiban imbalan kerja yang tidak The Group recognized unfunded employee benefits
didanai sesuai dengan Undang-Undang No. 6 tahun liability in accordance with Law No. 6 of 2023
2023 tentang Penetapan Peraturan Pemerintah concerning the Stipulation of Government Regulation in
Pengganti Undang-Undang No. 2 tahun 2022 Cipta Lieu of Law No. 2 of 2022 on Job Creation to Become
Kerja menjadi Undang-Undang. Beban pensiun Law. Pension costs under the Group’s defined benefit
berdasarkan program dana pensiun manfaat pasti pension plans are determined by periodic actuarial
Grup ditentukan melalui perhitungan aktuaria secara calculation using the projected-unit-credit method and
periodik dengan menggunakan metode projected-unit applying the assumptions on discount rate, return on
credit dan menerapkan asumsi atas tingkat diskonto, plan assets and annual rate of increase in
hasil atas aset program dan tingkat kenaikan manfaat compensation.
pasti pensiun tahunan.
Pengukuran kembali, terdiri dari keuntungan dan Remeasurement, comprising actuarial gains and
kerugian aktuarial, dampak perubahan pada batas losses, the effect of the changes to the asset ceiling (if
atas aset (jika ada) dan imbal hasil atas aset program applicable) and the return on plan assets (excluding
(tidak termasuk bunga), yang tercermin langsung interest), is reflected immediately in the consolidated
dalam laporan posisi keuangan konsolidasian yang statement of financial position with a charge or credit
dibebankan atau dikreditkan diakui dalam recognized in other comprehensive income in the
penghasilan komprehensif lain pada periode period in which they occur in order for the net pension
terjadinya untuk mencerminkan aset atau liabilitas asset or liability recognized in the consolidated
pensiun neto yang diakui pada laporan keuangan statement of financial position to reflect the full value of
konsolidasian untuk mencerminkan nilai penuh dari the plan deficit and surplus. Remeasurement
defisit dan surplus program. Pengukuran kembali recognized in other comprehensive income is reflected
diakui sebagai pos terpisah pada penghasilan immediately as a separate item under other
komprehensif lain di ekuitas dan tidak akan comprehensive income in equity and will not be
direklasifikasi ke laba rugi. reclassified to profit or loss.
37
Page 154
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
s. Imbalan kerja (lanjutan) s. Employee benefits (continued)
Imbalan pascakerja program imbalan pasti (lanjutan) Defined benefit plan (continued)
Biaya jasa lalu diakui dalam laba rugi ketika terjadi Past service cost is recognized in profit or loss when
amendemen program atau kurtailmen, atau ketika the plan amendment or curtailment occurs, or when the
Grup mengakui biaya restrukturisasi terkait atau Group recognizes related restructuring costs or
pesangon, jika lebih dahulu. termination benefits, if earlier.
Bunga neto dihitung dengan menggunakan tingkat Net interest is calculated by applying the discount rate
diskonto terhadap liabilitas atau aset imbalan pasti to the net defined benefit liability or asset. Defined
neto. Biaya imbalan pasti dikategorikan sebagai benefit costs are categorized as follows:
berikut:
• Biaya jasa (termasuk biaya jasa kini, biaya jasa • Service cost (including current service cost, past
lalu serta keuntungan dan kerugian kurtailmen service cost, as well as gains and losses on
dan penyelesaian) curtailments and settlements)
• Beban atau pendapatan bunga neto • Net interest expense or income
• Pengukuran kembali • Remeasurement
Grup menyajikan dua komponen pertama dari biaya The Group presents the first two components of
imbalan pasti di laba rugi. Keuntungan dan kerugian defined benefit costs in profit or loss. Curtailment gains
kurtailmen dicatat sebagai biaya jasa lalu. and losses are accounted for as past service costs.
t. Akrual dan provisi t. Accruals and provisions
Akrual dan provisi diakui jika Grup memiliki liabilitas Accruals and provisions are recognised when the
kini (baik bersifat hukum maupun bersifat konstruktif) Group has a present obligation (legal or constructive)
yang akibat peristiwa masa lalu, besar where, as a result of a past event, it is probable that an
kemungkinannya penyelesaian liabilitas tersebut outflow of resources embodying economic benefits will
mengakibatkan arus keluar sumber daya yang be required to settle the obligation and a reliable
mengandung manfaat ekonomi dan estimasi yang estimate can be made of the amount of the obligation.
andal mengenai jumlah kewajiban tersebut dapat Accruals and provisions are not recognised for future
dibuat. Akrual dan provisi tidak diakui untuk kerugian operating losses.
operasi di masa mendatang.
Akrual dan provisi diukur sebesar nilai kini dari Accruals and provisions are measured at the present
estimasi terbaik manajemen atas pengeluaran yang value of management’s best estimate of the
diperlukan untuk menyelesaikan kewajiban kini pada expenditure required to settle the present obligation at
akhir periode pelaporan. Tingkat diskonto yang the end of the reporting period. The discount rate used
digunakan untuk menentukan nilai kini adalah tingkat to determine the present value is a pretax rate that
diskonto sebelum pajak yang mencerminkan reflects current market assessments of the time value
penilaian pasar atas nilai waktu uang dan risiko yang of money and the risks specific to the liability. The
terkait dengan kewajiban. Peningkatan provisi karena increase in the provision due to the passage of time is
berjalannya waktu diakui sebagai beban bunga. recognised as interest expense.
Akrual dan provisi direviu pada setiap tanggal Accruals and provisions are reviewed at each reporting
pelaporan dan disesuaikan untuk mencerminkan date and adjusted to reflect the current best estimate. If
estimasi kini terbaik. Jika tidak terdapat kemungkinan it is no longer probable that an outflow of resources
arus kas keluar sumber daya yang mengandung embodying economic benefits will be required to settle
manfaat ekonomi untuk menyelesaikan liabilitas the obligation, the provision is reversed.
tersebut, provisi tersebut dibalik.
38
Page 155
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
u. Pinjaman u. Borrowings
Pinjaman diakui pada awalnya sebesar nilai wajar, Borrowings are recognised initially at fair value, net of
dikurangi dengan biaya transaksi yang terjadi. transaction costs incurred. Borrowings are
Pinjaman kemudian dicatat sebesar biaya perolehan subsequently carried at amortised cost; any difference
yang diamortisasi; selisih antara hasil perolehan between the proceeds (net of transaction costs) and
(dikurangi dengan biaya transaksi) dan nilai the redemption value is recognised in profit or loss over
penarikan diakui dalam laba rugi selama periode the period of the borrowing, using the EIR method.
pinjaman dengan menggunakan metode EIR.
Biaya yang dibayarkan untuk pembukaan fasilitas Fees paid on the establishment of loan facilities are
pinjaman diakui sebagai biaya transaksi pinjaman recognised as transaction costs of the loan to the
sepanjang besar kemungkinan sebagian atau seluruh extent that it is probable that some or all of the facility
fasilitas akan ditarik. Dalam hal ini, biaya tersebut will be drawn down. In this case, the fee is deferred
ditangguhkan sampai penarikan terjadi. Sejauh tidak until the draw-down occurs. To the extent that there is
ada bukti bahwa ada kemungkinan sebagian atau no evidence that it is probable that some or all of the
seluruh fasilitas akan ditarik, biaya tersebut facility will be drawn down, the fee is capitalised as a
dikapitalisasi sebagai pembayaran di muka untuk pre-payment for liquidity services and amortised over
layanan likuiditas dan diamortisasi selama periode the period of the facility to which it relates.
fasilitas yang terkait.
Pinjaman diklasifikasikan sebagai liabilitas jangka Borrowings are classified as current liabilities unless
pendek kecuali Grup memiliki hak tanpa syarat untuk the Group has an unconditional right to defer the
menunda pembayaran liabilitas selama paling tidak settlement of the liability for at least 12 months after the
12 bulan setelah tanggal pelaporan. reporting date.
v. Pengakuan pendapatan v. Revenue recognition
Pendapatan diukur berdasarkan imbalan yang Grup Revenue is measured based on the consideration to
perkirakan menjadi haknya dalam kontrak dengan which the Group expects to be entitled in a contract
pelanggan dan tidak termasuk jumlah yang ditagih with a customer and excludes amounts collected on
atas nama pihak ketiga. Grup mengakui pendapatan behalf of third parties. The Group recognizes revenue
ketika mengalihkan pengendalian barang atau jasa when it transfers control of a product or service to a
kepada pelanggan. Grup secara umum customer. The Group has generally concluded that it is
menyimpulkan bahwa Grup adalah prinsipal dalam the principal in its revenue arrangements.
pengaturan pendapatannya.
Penjualan barang Sale of goods
Pendapatan dari penjualan barang diakui pada saat Revenue from sale of goods is recognised at the point
pengendalian aset dialihkan kepada pelanggan, in time when control of the asset is transferred to the
umumnya pada saat penyerahan barang. customer, generally on delivery of the goods.
Grup mempertimbangkan apakah ada janji lain dalam The Group considers whether there are other promises
kontrak yang merupakan kewajiban pelaksanaan in the contract that are separate performance
terpisah yang perlu dialokasikan sebagian dari harga obligations to which a portion of the transaction price
transaksi. Dalam menentukan harga transaksi untuk needs to be allocated. In determining the transaction
penjualan barang, Grup mempertimbangkan price for the sale of goods, the Group considers the
pengaruh dari imbalan variabel. effects of variable consideration.
Pendapatan dari penjualan ini diakui berdasarkan Revenue from these sales is recognised based on the
harga jual dikurangi diskon, estimasi insentif sales price, net of the discount, estimated sales
penjualan, rabat volume dan biaya pemasaran dan incentives, volume rebates and other marketing and
promosi lainnya, dan tidak termasuk Pajak promotion costs and excludes Value Added Tax
Pertambahan Nilai (“PPN”). (“VAT”).
39
Page 156
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
v. Pengakuan pendapatan (lanjutan) v. Revenue recognition (continued)
Penjualan barang (lanjutan) Sale of goods (continued)
(i) Imbalan variabel (i) Variable consideration
Jika imbalan dalam kontrak mencakup jumlah If the consideration in a contract includes a
variabel, Grup mengestimasi jumlah imbalan variable amount, the Group estimates the amount
yang menjadi haknya sebagai imbalan atas of consideration to which it will be entitled in
pengalihan barang kepada pelanggan. Imbalan exchange for transferring the goods to the
variabel diestimasi pada awal kontrak dan customer. The variable consideration is estimated
dibatasi hingga kemungkinan besar bahwa at contract inception and constrained until it is
pembalikan pendapatan yang material dalam highly probable that a material revenue reversal in
jumlah pendapatan kumulatif yang diakui tidak the amount of cumulative revenue recognised will
akan terjadi ketika ketidakpastian terkait dengan not occur when the associated uncertainty with
imbalan variabel kemudian diselesaikan. the variable consideration is subsequently
resolved.
Beberapa kontrak untuk penjualan barang Some contracts for the sale of goods provide
memberi hak retur dan rabat volume kepada customers with a right of return and volume
pelanggan. Hak retur dan rabat volume rebates. The rights of return and volume rebates
menimbulkan imbalan variabel. give rise to variable consideration.
- Hak retur - Rights of return
Kontrak tertentu memberi pelanggan hak Certain contracts provide a customer with the
untuk mengembalikan barang dalam right to return the goods within a specified
jangka waktu tertentu. period.
Grup menggunakan metode nilai yang The Group uses the expected value method
diharapkan untuk mengestimasi barang to estimate the goods that will not be returned
yang tidak akan dikembalikan karena because this method best predicts the amount
metode ini paling baik memprediksi jumlah of variable consideration to which the Group
imbalan variabel yang menjadi hak Grup. will be entitled. The requirements in PSAK
Ketentuan dalam PSAK 115 tentang 115 on constraining estimates of variable
estimasi batasan atas imbalan variabel consideration are also applied in order to
juga diterapkan untuk menentukan jumlah determine the amount of variable
imbalan variabel yang dapat dimasukkan consideration that can be included in the
ke dalam harga transaksi. transaction price.
Pada setiap akhir periode pelaporan, Grup At each reporting period, the Group estimates
mengestimasi barang yang diharapkan the goods that are expected to be returned
akan dikembalikan dan mengakui provisi and recognises a provision for sales return as
retur penjualan sebagai liabilitas kontrak a contract liability and the right of return asset
beserta hak retur aset (untuk penyesuaian (for the corresponding cost of goods sold of
beban pokok penjualan atas provisi retur the provision for sales return) as a contract
penjualan tersebut) sebagai aset kontrak. asset.
- Rabat volume - Volume rebate
Kontrak tertentu dengan pelanggan Certain contracts customers provide volume
memberikan rabat volume berdasarkan rebate based on the sales achievement
pencapaian penjualan selama periode during the rebate programme period. The
program rabat. Grup mengakui liabilitas Group has recognised contract liability related
kontrak terkait dengan rabat volume ini to this volume rebate as part of accrual
sebagai bagian dari beban akrual marketing and promotion in the consolidated
pemasaran dan promosi pada laporan statement of financial position.
posisi keuangan konsolidasian.
40
Page 157
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
v. Pengakuan pendapatan (lanjutan) v. Revenue recognition (continued)
Program loyalitas pelanggan Customer loyalty programme
Grup memiliki program poin loyalitas yang The Group has a loyalty points programme that allows
memungkinkan pelanggan mengumpulkan poin yang customers to accumulate points that can be redeemed
dapat ditukarkan dengan barang gratis. Poin loyalitas for free goods. The loyalty points give rise to a
menimbulkan kewajiban pelaksanaan terpisah karena separate performance obligation as they provide a
memberikan hak material kepada pelanggan. material right to the customer. A portion of the
Sebagian dari harga transaksi dialokasikan ke poin transaction price is allocated to the loyalty points
loyalitas yang diberikan kepada pelanggan awarded to customers based on relative stand-alone
berdasarkan harga jual berdiri sendiri dan diakui selling price and recognised as a contract liability until
sebagai liabilitas kontrak sampai poin tersebut the points are redeemed. The contract liability is
ditukarkan. Liabilitas kontrak tersebut disajikan presented as part of “Accrued expenses” in the
sebagai bagian dari “Beban akrual” dalam laporan consolidated statements of financial position. Revenue
posisi keuangan konsolidasian. Pendapatan diakui is recognised upon redemption of products by the
pada saat penukaran produk oleh pelanggan. customer.
Ketika pihak lain terlibat dalam penyediaan barang When another party is involved in providing
gratis kepada pelanggannya, Grup menentukan promotional free goods to its customer, the Group
apakah ia adalah prinsipal atau agen dalam transaksi determines whether it is a principal or an agent in these
ini dengan mengevaluasi sifat dari janjinya kepada transactions by evaluating the nature of its promise to
pelanggan. Grup sepenuhnya bertanggung jawab the customer. The Group is primarily responsible for
untuk memenuhi janji atas pemberian barang gratis fulfilling the promise to provide free goods to eligible
kepada pelanggan yang memenuhi syarat. Grup customers. The Group determined that they control the
menetapkan bahwa Grup mengendalikan barang free goods before they are transferred to customers
gratis sebelum ditransfer ke pelanggan dan memiliki and have the ability to direct the use of the free goods.
kemampuan untuk mengarahkan penggunaan barang Therefore, the Group concluded that it is the principal
gratis tersebut. Oleh karena itu, Grup menyimpulkan in this arrangement. Upon redemption of loyalty points
bahwa Grup adalah prinsipal dalam pengaturan ini. by the customer, the Group records the cost of
Pada saat penukaran poin loyalitas oleh pelanggan, promotional free goods as part of the cost of goods
Grup mencatat biaya barang gratis sebagai bagian sold in the consolidated statement of profit or loss and
dari harga pokok penjualan dalam laporan laba rugi other comprehensive income.
dan penghasilan komprehensif lain konsolidasian.
w. Pajak penghasilan w. Income tax
Beban (manfaat) pajak penghasilan terdiri dari pajak Income tax expense (income) comprises current and
kini dan pajak tangguhan. Pajak kini dan pajak deferred tax. Current and deferred tax shall be
tangguhan harus diakui sebagai beban atau recognised as expense or an income and included in
penghasilan dan dimasukkan dalam laba rugi periode profit or loss for the period, except to the extent that the
berjalan, kecuali sepanjang pajak tersebut timbul dari tax arises from a transaction or event which is
suatu transaksi atau peristiwa yang diakui, pada recognised, in the same or a different period, outside
periode yang sama atau berbeda, di luar laba rugi, profit or loss, either in other comprehensive income or
baik dalam penghasilan komprehensif lain atau directly in equity or a business combination.
secara langsung dalam ekuitas atau dari suatu
kombinasi bisnis.
41
Page 158
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
w. Pajak penghasilan (lanjutan) w. Income tax (continued)
Pajak kini Current tax
Beban pajak kini dihitung dengan menggunakan tarif Current tax expense is calculated using tax rates that
pajak yang berlaku pada tanggal pelaporan have been enacted or substantively enacted at end of
keuangan, dan ditetapkan berdasarkan taksiran laba the reporting period, and is provided based on the
kena pajak tahun berjalan. Manajemen secara estimated taxable income for the year. Management
periodik mengevaluasi posisi yang dilaporkan di Surat periodically evaluates positions taken in tax returns
Pemberitahuan Tahunan (SPT) sehubungan dengan with respect to situations in which applicable tax
situasi di mana aturan pajak yang berlaku regulation is subject to interpretation. It establishes
membutuhkan interpretasi. Jika perlu, manajemen provision where appropriate on the basis of amounts
menentukan provisi berdasarkan jumlah yang expected to be paid to the tax authorities.
diharapkan akan dibayar kepada otoritas pajak.
Kekurangan atau kelebihan pembayaran pajak Underpayment or overpayment of corporate income tax
penghasilan badan dicatat sebagai bagian dari beban are presented as part of income tax expense in the
pajak dalam laporan laba rugi dan penghasilan consolidated statement of profit or loss and other
komprehensif lain konsolidasian. comprehensive income.
Bunga dan denda yang timbul dari ketetapan pajak Interests and penalties arising from tax assessments
dan kurang bayar atau lebih bayar pajak lainnya and underpayment or overpayment of other taxes are
disajikan sebagai bagian dari penghasilan atau beban presented as part of other operating income or
operasi lain karena tidak dianggap sebagai bagian expenses since they are not considered as part of the
dari beban pajak penghasilan. income tax expense.
Koreksi terhadap liabilitas perpajakan diakui pada Amendments to tax obligations are recorded when a
saat surat ketetapan pajak diterima. Jika Grup tax assessment letter is received. If the Group files an
mengajukan keberatan, Grup mempertimbangkan appeal, the Group considers whether it is probable that
apakah besar kemungkinan otoritas pajak akan a taxation authority will accept the appeal and reflect its
menerima keberatan tersebut dan merefleksikan effect on the Group’s tax obligations.
dampaknya terhadap liabilitas perpajakan Grup.
Pajak tangguhan Deferred tax
Pajak tangguhan diukur dengan metode liabilitas atas Deferred tax is provided using the liability method on
beda waktu pada tanggal pelaporan antara dasar temporary differences at the reporting date between
pengenaan pajak untuk aset dan liabilitas dengan the tax bases of assets and liabilities and their carrying
nilai tercatatnya untuk tujuan pelaporan keuangan. amounts for financial reporting purposes. Deferred tax
Liabilitas pajak tangguhan diakui untuk semua liabilities are recognized for all taxable temporary
perbedaan temporer kena pajak dengan beberapa differences with certain exceptions. Deferred tax assets
pengecualian. Aset pajak tangguhan diakui untuk are recognized for deductible temporary differences
perbedaan temporer yang dapat dikurangkan dan and tax losses carry-forward to the extent that it is
rugi fiskal apabila terdapat kemungkinan besar probable that taxable income will be available in future
bahwa jumlah laba kena pajak pada masa years against which the deductible temporary
mendatang akan memadai untuk mengkompensasi differences and tax losses carry-forward can be
perbedaan temporer dan rugi fiskal. Aset dan liabilitas utilized. Such deferred tax assets and liabilities are not
pajak tangguhan tidak diakui jika perbedaan temporer recognized if the temporary differences arise from the
timbul dari pengakuan awal (selain dari kombinasi initial recognition (other than in a business combination
bisnis atau transaksi yang tidak menimbulkan or transactions that give rise to equal taxable and
perbedaan temporer kena pajak dan perbedaan deductible temporary differences) of assets and
temporer dapat dikurangkan dalam jumlah yang liabilities in a transaction that affects neither the taxable
sama) dari aset dan liabilitas suatu transaksi yang profit nor the accounting profit. In addition, deferred tax
tidak memengaruhi laba kena pajak atau laba liabilities are not recognized if the temporary
akuntansi. Selain itu, liabilitas pajak tangguhan tidak differences arises from the initial recognition of
diakui jika perbedaan temporer timbul dari pengakuan goodwill.
awal goodwill.
42
Page 159
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
w. Pajak penghasilan (lanjutan) w. Income tax (continued)
Pajak tangguhan (lanjutan) Deferred tax (continued)
Aset dan liabilitas pajak tangguhan dihitung Deferred tax assets and liabilities are measured at the
berdasarkan tarif yang akan dikenakan pada periode tax rates that are expected to apply to the period when
saat aset direalisasikan atau liabilitas tersebut the asset is realized or the liability is settled, based on
diselesaikan, berdasarkan undang-undang pajak tax laws that have been enacted or substantively
yang berlaku atau berlaku secara substantif pada enacted at the end of reporting period. The related tax
akhir periode laporan keuangan. Pengaruh pajak effects of the provisions for and/or reversals of all
terkait dengan penyisihan dan/atau pemulihan semua temporary differences during the year, including the
perbedaan temporer selama tahun berjalan, termasuk effect of change in tax rates, are credited or charged to
pengaruh perubahan tarif pajak, dikreditkan atau current period operations, except to the extent that they
dibebankan pada periode operasi berjalan, untuk relate to items previously charged or credited to other
transaksi-transaksi yang sebelumnya telah comprehensive income or directly in equity.
dibebankan atau dikreditkan ke penghasilan
komprehensif lain atau langsung ke ekuitas.
Pengukuran aset dan liabilitas pajak tangguhan The measurement of deferred tax assets and liabilities
mencerminkan konsekuensi pajak yang sesuai reflects the tax consequences that would follow from
dengan cara Grup memperkirakan, pada akhir the manner in which the Group expects, at the end of
periode pelaporan, untuk memulihkan atau the reporting period, to recover or settle the carrying
menyelesaikan jumlah tercatat aset dan liabilitasnya. amount of their assets and liabilities.
Jumlah tercatat aset pajak tangguhan dikaji ulang The carrying amount of a deferred tax asset is
pada setiap akhir periode pelaporan, dan mengurangi reviewed at the end of each reporting period and
jumlah tercatat jika kemungkinan besar laba kena reduced to the extent that it is no longer probable that
pajak tidak lagi tersedia dalam jumlah yang memadai sufficient taxable income will be available to allow all or
untuk mengkompensasi sebagian atau seluruh aset part of the benefit of that deferred tax asset to be
pajak tangguhan. Aset pajak tangguhan yang belum utilized. Unrecognized deferred tax assets are
diakui dinilai kembali pada setiap akhir periode reassessed at each reporting date and are recognized
pelaporan dan diakui sepanjang kemungkinan besar to the extent that it has become probable that future
laba kena pajak mendatang akan memungkinkan taxable income will allow the deferred tax assets to be
aset pajak tangguhan tersedia untuk dipulihkan. recovered.
Aset dan liabilitas pajak tangguhan disajikan secara Deferred tax assets and liabilities are offset when a
saling hapus saat hak yang dapat dipaksakan secara legally enforceable right exists to offset current tax
hukum ada untuk saling hapus aset pajak kini dan assets against current tax liabilities, and the deferred
liabilitas pajak kini, dan aset pajak tangguhan dan tax assets and the deferred tax liabilities relate to the
liabilitas pajak tangguhan berkaitan dengan entitas same taxable entity, or the Group intends to settle its
kena pajak yang sama, atau Grup bermaksud untuk current tax liabilities and assets on a net basis, or to
menyelesaikan liabilitas dan aset pajak kini dengan realise the assets and settle the liabilities
dasar neto, atau merealisasikan aset dan simultaneously, in each future period in which
menyelesaikan liabilitas secara bersamaan, pada significant amounts of deferred tax liabilities or assets
setiap periode masa depan di mana jumlah signifikan are expected to be settled or recovered.
atas liabilitas atau aset pajak tangguhan diharapkan
untuk diselesaikan atau dipulihkan.
Pajak Pertambahan Nilai Value Added Tax
Pendapatan, beban-beban dan aset-aset diakui neto Revenue, expenses and assets are recognized net of
atas jumlah Pajak Pertambahan Nilai (“PPN”) kecuali: the amount of Value Added Tax (“VAT”) except:
• PPN yang muncul dari pembelian aset atau jasa • Where the VAT incurred on a purchase of assets
yang tidak dapat dikreditkan oleh kantor pajak, or services is not recoverable from the taxation
yang dalam hal ini PPN diakui sebagai bagian authority, in which case the VAT is recognized as
dari biaya perolehan aset atau sebagai bagian part of the cost of acquisition of the asset or as
dari item beban-beban yang diterapkan; dan part of the expense of the asset or as part of the
expense item as applicable; and
• Piutang dan utang yang disajikan termasuk • Receivables and payables that are stated with the
dengan jumlah PPN. amount of VAT included.
43
Page 160
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
w. Pajak penghasilan (lanjutan) w. Income tax (continued)
Pajak Pertambahan Nilai (lanjutan) Value Added Tax (continued)
Jumlah PPN Neto yang terpulihkan dari, atau The net amount of VAT recoverable from, or payable
terutang kepada, kantor pajak termasuk sebagai to, the taxation authorities is included as part of
bagian dari piutang atau utang pada laporan posisi receivables or payables in the consolidated statements
keuangan konsolidasian. of financial position.
Pajak final Final tax
Sesuai peraturan perpajakan di Indonesia, pajak final In accordance with the tax regulation in Indonesia, final
dikenakan atas nilai bruto transaksi, dan tetap tax is applied to the gross value of transactions, even
dikenakan walaupun atas transaksi tersebut pelaku when the parties carrying the transactions are
transaksi mengalami kerugian. Pajak final tidak recognizing losses. Final tax is scoped out from PSAK
termasuk dalam lingkup yang diatur oleh PSAK 212, 212, “Income Taxes”.
“Pajak Penghasilan”.
Beban pajak sehubungan dengan penghasilan yang Tax expense related to income subject to final tax is
menjadi subyek pajak final diakui proporsional recognised in proportion to total income recognised
dengan jumlah pendapatan menurut akuntansi yang during the current year for accounting purposes and
diakui pada tahun berjalan dan dicatat sebagai beban recorded as final tax expense. The differences
pajak final pada laporan laba rugi dan penghasilan between the final tax paid and the amount charged as
komprehensif lain konsolidasian diakui sebagai pajak final tax expense in the consolidated statement of profit
dibayar di muka atau utang pajak. or loss and other comprehensive income is recognised
as prepaid tax or tax payable.
x. Modal saham x. Share capital
Saham biasa diklasifikasikan sebagai ekuitas. Biaya Ordinary shares are classified as equity. Incremental
tambahan yang secara langsung dapat diatribusikan costs directly attributable to the issue of new ordinary
kepada penerbitan saham biasa atau opsi disajikan shares or options are shown in equity as a deduction,
pada ekuitas sebagai pengurang penerimaan, setelah net of tax, from the proceeds.
dikurangi pajak.
Biaya yang terjadi sehubungan dengan penerbitan Costs incurred in connection with the Company’s
modal saham Perusahaan kepada publik dikurangkan issuance of share capital to the public were offset
langsung dengan penerimaan dan disajikan sebagai directly with the proceeds and presented as a
pengurang akun tambahan modal disetor dalam deduction to the additional paid-in capital account in
laporan posisi keuangan konsolidasian. the consolidated statements of financial position.
Ketika entitas Grup membeli modal saham ekuitas Where any Group entity purchases the Company’s
Perusahaan (saham treasuri), imbalan yang dibayar, equity share capital (treasury shares), the
termasuk biaya tambahan yang secara langsung consideration paid, including any directly attributable
dapat diatribusikan (dikurangi pajak penghasilan) incremental costs (net of income taxes) is deducted
dikurangkan dari ekuitas yang diatribusikan kepada from equity attributable to the Company’s equity
pemilik ekuitas Perusahaan sampai saham tersebut holders until the shares are cancelled or reissued.
dibatalkan atau diterbitkan kembali. Ketika saham Where such ordinary shares are subsequently
biasa tersebut selanjutnya diterbitkan kembali, reissued, any consideration received, net of any
imbalan yang diterima, dikurangi biaya tambahan directly attributable incremental transaction costs and
transaksi yang terkait dan dampak pajak penghasilan the related income tax effects, is included in equity
yang terkait dimasukkan pada ekuitas yang dapat attributable to the Company’s equity holders.
diatribusikan kepada pemilik ekuitas Perusahaan.
44
Page 161
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
y. Dividen y. Dividends
Distribusi dividen kepada para pemegang saham Dividend distribution to the Group’s shareholders is
Grup diakui sebagai liabilitas dalam laporan recognised as a liability in the Group’s consolidated
keuangan konsolidasian Grup pada periode dimana financial statements in the period in which the
dividen telah disetujui oleh pemegang saham entitas dividends are approved by the Group’s General
dalam Rapat Umum Pemegang Saham Grup Meeting of Shareholders.
(“RUPS”).
z. Laba per saham z. Earnings per share
Laba per saham dasar dihitung dengan membagi Basic earnings per share are calculated by dividing the
laba bersih yang tersedia bagi pemegang saham profit attributable to the equity holders of the Company
Perusahaan dengan jumlah rata-rata tertimbang by the weighted average number of ordinary shares
saham biasa yang beredar pada tahun berjalan. outstanding during the year.
Apabila jumlah saham biasa yang beredar meningkat If the number of ordinary shares outstanding is
tanpa disertai peningkatan sumber daya, maka increased without an increase in resources, the
jumlah saham biasa yang beredar sebelum peristiwa number of ordinary shares outstanding before the
tersebut disesuaikan dengan perubahan proporsional event is adjusted for the proportionate change in the
atas jumlah saham beredar seolah-olah peristiwa number of ordinary shares outstanding as if the event
tersebut terjadi pada permulaan dari periode sajian had occurred at the beginning of the earliest period
paling awal. presented.
aa. Pengukuran nilai wajar aa. Fair value measurement
Grup mengukur aset tetap - tanah dan properti The Group measures fixed assets - land and
investasi pada nilai wajar. Grup juga mengukur pada investment properties at fair value. The Group also
pengakuan awal instrumen keuangan, dan aset dan initially measure financial instruments at fair value, and
liabilitas yang diakuisisi pada kombinasi bisnis. assets and liabilities of the acquirees upon business
combinations.
Nilai wajar adalah harga yang akan diterima dari Fair value is the price that would be received to sell an
menjual suatu aset atau harga yang akan dibayar asset or paid to transfer a liability in an orderly
untuk mengalihkan suatu liabilitas dalam transaksi transaction between market participants at the
teratur antara pelaku pasar pada tanggal measurement date. The fair value measurement is
pengukuran. Pengukuran nilai wajar mengasumsikan based on the presumption that the transaction to sell
bahwa transaksi untuk menjual aset atau the asset or transfer the liability takes place either:
mengalihkan liabilitas terjadi:
i)
i) Di pasar utama untuk aset atau liabilitas tersebut, i) In the principal market for the asset or liability, or
atau
ii) Jika tidak terdapat pasar utama, di pasar yang ii) In the absence of a principal market, in the most
paling menguntungkan untuk aset atau liabilitas advantageous market for the asset or liability.
tersebut.
Pasar utama atau pasar yang paling menguntungkan The principal or the most advantageous market must
tersebut harus dapat diakses oleh Grup. be accessible to by the Group.
45
Page 162
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
aa. Pengukuran nilai wajar (lanjutan) aa. Fair value measurement (continued)
Nilai wajar dari aset atau liabilitas diukur dengan The fair value of an asset or a liability is measured
menggunakan asumsi yang akan digunakan pelaku using the assumptions that market participants would
pasar ketika menentukan harga aset atau liabilitas use when pricing the asset or liability, assuming that
tersebut, dengan asumsi bahwa pelaku pasar market participants act in their economic best interest.
bertindak dalam kepentingan ekonomi terbaiknya.
Pengukuran nilai wajar dari suatu aset non-keuangan A fair value measurement of a non-financial asset
memperhitungkan kemampuan pelaku pasar untuk takes into account a market participant’s ability to
menghasilkan manfaat ekonomik dengan generate economic benefits by using the asset in its
menggunakan aset dalam penggunaan tertinggi dan highest and best use or by selling it to another market
terbaiknya atau dengan menjualnya kepada pelaku participant that would use the asset in its highest and
pasar lain yang akan menggunakan aset tersebut best use.
pada penggunaan tertinggi dan terbaiknya.
Grup menggunakan teknik penilaian yang sesuai The Group use valuation techniques that are
dengan keadaan dan data yang memadai tersedia appropriate in the circumstances and for which
untuk mengukur nilai wajar, dengan memaksimalkan sufficient data are available to measure fair value,
masukan (input) yang dapat diamati (observable) maximizing the use of relevant observable inputs and
yang relevan dan meminimalkan masukan (input) minimizing the use of unobservable inputs.
yang tidak dapat diamati (unobservable).
Semua aset dan liabilitas yang nilai wajarnya diukur All assets and liabilities for which fair value is
atau diungkapkan dalam laporan keuangan measured or disclosed in the consolidated financial
konsolidasian dikategorikan dalam hirarki nilai wajar statements are categorized within the fair value
berdasarkan level masukan (input) paling rendah hierarchy, described as follows, based on the lowest
yang signifikan terhadap pengukuran nilai wajar level input that is significant to the fair value
secara keseluruhan sebagai berikut: measurement as a whole:
i) Level 1 - Harga kuotasian (tanpa penyesuaian) di i) Level 1 - Quoted (unadjusted) market prices in
pasar aktif untuk aset atau liabilitas yang identik active markets for identical assets or liabilities.
yang dapat diakses entitas pada tanggal
pengukuran.
ii) Level 2 - Teknik penilaian yang menggunakan ii) Level 2 - Valuation techniques for which the lowest
tingkat masukan (input) yang paling rendah yang level input that is significant to the fair value
signifikan terhadap pengukuran nilai wajar yang measurement is directly or indirectly observable.
dapat diamati (observable) baik secara langsung
atau tidak langsung.
iii) Level 3 - Teknik penilaian yang menggunakan iii) Level 3 - Valuation techniques for which the lowest
tingkat masukan (input) yang paling rendah yang level input that is significant to the fair value
signifikan terhadap pengukuran nilai wajar yang measurement is directly or indirectly unobservable.
tidak dapat diamati (unobservable) baik secara
langsung atau tidak langsung.
Untuk aset dan liabilitas yang diakui pada laporan For assets and liabilities that are recognized in the
keuangan konsolidasian secara berulang, Grup consolidated financial statements on recurring basis,
menentukan apakah terdapat perpindahan antara the Group determine whether transfers have occurred
level dalam hirarki dengan melakukan evaluasi ulang between levels in the hierarchy by re-assessing
atas penetapan kategori (berdasarkan level masukan categorization (based on the lowest level input that is
(input) paling rendah yang signifikan terhadap significant to the fair value measurement as a whole) at
pengukuran nilai wajar secara keseluruhan) pada tiap the end of each reporting period.
akhir periode pelaporan.
46
Page 163
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
bb. Informasi segmen bb. Segment information
Segmen operasi dilaporkan dengan cara yang Operating segments are reported in a manner
konsisten dengan pelaporan internal yang diberikan consistent with the internal reporting provided to the
kepada pengambil keputusan operasi utama. chief operating decision-maker. The chief operating
Pengambil keputusan operasi utama, yang decision-maker, who is responsible for allocating
bertanggung jawab mengalokasikan sumber daya resources and assessing the performance of the
dan menilai kinerja segmen operasi, telah operating segments, has been identified as the
diidentifikasi sebagai komite pengarah yang steering committee that makes strategic decisions.
mengambil keputusan strategis.
Untuk tujuan manajemen, Grup dibagi menjadi dua For management purposes, the Group is organised
segmen operasi berdasarkan produk yang dikelola into two operating segments based on their products
secara independen oleh masing-masing pengelola which are independently managed by the respective
segmen yang bertanggung jawab atas kinerja dari segment managers responsible for the performance of
masing-masing segmen. Para pengelola segmen the respective segments under their charge. The
melaporkan secara langsung kepada manajemen segment managers report directly to the Group’s
Grup yang secara teratur mengkaji laba segmen management who regularly review the segment’s
sebagai dasar untuk mengalokasikan sumber daya results in order to allocate resources to the segments
ke masing-masing segmen dan untuk menilai kinerja and assess the segment’s performance. Additional
segmen. Pengungkapan tambahan pada masing- disclosures on each of these segments are shown in
masing segmen terdapat dalam Catatan 36, termasuk Note 36, including the factors used to identify the
faktor yang digunakan untuk mengidentifikasi segmen reportable segments and the measurement basis of
yang dilaporkan dan dasar pengukuran informasi segment information.
segmen.
cc. Peristiwa setelah periode pelaporan cc. Events after the reporting period
Peristiwa setelah periode pelaporan yang Events after the reporting period that provide additional
memberikan informasi tambahan tentang posisi Grup information about the Group’s position at the reporting
pada periode pelaporan (menyesuaikan peristiwa) period (adjusting events) are reflected in the
tercermin dalam laporan keuangan konsolidasian. consolidated financial statements. Events after the
Peristiwa setelah periode pelaporan yang tidak reporting period that are not adjusting events, if any,
menyesuaikan peristiwa, jika ada, diungkapkan ketika are disclosed when material to the consolidated
material terhadap laporan keuangan konsolidasian. financial statements.
4. PERTIMBANGAN AKUNTANSI PENTING DAN 4. CRITICAL ACCOUNTING JUDGMENTS AND KEY
SUMBER UTAMA KETIDAKPASTIAN ESTIMASI SOURCES OF ESTIMATION UNCERTAINTY
Penyusunan laporan keuangan konsolidasian Grup The preparation of the Group’s consolidated financial
mengharuskan manajemen untuk membuat pertimbangan, statements requires management to make judgements,
estimasi dan asumsi yang memengaruhi jumlah yang estimates and assumptions that affect the reported amounts
dilaporkan dari pendapatan, beban, aset dan liabilitas, dan of revenues, expenses, assets and liabilities, and the
pengungkapan atas liabilitas kontinjensi, pada akhir disclosure of contingent liabilities, at the end of the reporting
periode pelaporan. Estimasi, asumsi, dan pertimbangan period. Estimates, assumptions and judgements are
tersebut dievaluasi secara terus menerus berdasarkan continuously evaluated based on historical experience and
pengalaman historis dan faktor-faktor lainnya, termasuk other factors, including expectations of future events that
harapan peristiwa di masa datang yang diyakini wajar are believed to be reasonable under the circumstances.
berdasarkan kondisi yang ada.
Grup telah mengidentifikasi hal-hal berikut dimana The Group has identified the following matters under which
diperlukan pertimbangan, estimasi dan asumsi signifikan significant judgements, estimates and assumptions are
dan dimana hasil aktual dapat berbeda dari estimasi made and where actual results may differ from these
tersebut jika menggunakan asumsi dan kondisi yang estimates under different assumptions and conditions and
berbeda dan dapat memengaruhi secara material hasil may materially affect the consolidated financial results or
keuangan atau posisi keuangan konsolidasian Grup yang financial position of the Group reported in future years.
dilaporkan dalam tahun mendatang.
47
Page 164
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
4. PERTIMBANGAN AKUNTANSI PENTING DAN 4. CRITICAL ACCOUNTING JUDGMENTS AND KEY
SUMBER UTAMA KETIDAKPASTIAN ESTIMASI SOURCES OF ESTIMATION UNCERTAINTY (continued)
(lanjutan)
Penilaian model bisnis Business model assessment
Klasifikasi dan pengukuran aset keuangan bergantung Classification and measurement of financial assets depends
pada hasil SPPI testing dan uji model bisnis. Grup on the results of the SPPI testing and the business model
menentukan model bisnis pada tingkat yang test. The Group determines the business model at a level
mencerminkan bagaimana kelompok aset keuangan that reflects how groups of financial assets are managed
dikelola bersama untuk mencapai tujuan bisnis tertentu. together to achieve a particular business objective. This
Penilaian ini mencakup penilaian yang mencerminkan assessment includes judgment reflecting all relevant
semua bukti yang relevan termasuk bagaimana kinerja evidence including how the performance of the assets is
aset dievaluasi dan kinerjanya diukur, risiko yang evaluated and their performance measured, the risks that
memengaruhi kinerja aset dan bagaimana hal ini dikelola affect the performance of the assets and how these are
dan bagaimana manajer aset diberi kompensasi. Grup managed and how the managers of the assets are
memantau aset keuangan yang diukur pada biaya compensated. The Group monitors financial assets
perolehan diamortisasi atau nilai wajar melalui measured at amortized cost or fair value through other
penghasilan komprehensif lain yang dihentikan comprehensive income that are derecognized prior to their
pengakuannya sebelum jatuh tempo untuk memahami maturity to understand the reason for their disposal and
alasan pelepasannya dan apakah alasan tersebut whether the reasons are consistent with the objective of the
konsisten dengan tujuan bisnis di mana aset tersebut business for which the asset was held. Monitoring is part of
dimiliki. Pemantauan adalah bagian dari penilaian the Group’s continuous assessment of whether the
berkelanjutan Grup atas apakah model bisnis di mana aset business model for which the remaining financial assets are
keuangan yang tersisa dimiliki tetap sesuai dan jika tidak held continues to be appropriate and if it is not appropriate
sesuai apakah telah terjadi perubahan dalam model bisnis whether there has been a change in business model and so
dan dengan demikian terdapat perubahan prospektif a prospective change to the classification of those assets.
terhadap klasifikasi aset keuangan tersebut. Tidak ada No such changes were required during the periods
perubahan yang diperlukan selama periode yang presented.
disajikan.
Beban akrual pemasaran dan promosi Accrued marketing and promotion expenses
Grup mengevaluasi kelayakan beban akrual promosi dan The Group evaluates the appropriateness of accrued
pemasaran pada setiap akhir periode pelaporan. marketing and promotion expenses at every end of
reporting period.
Grup membuat pertimbangan yang signifikan untuk The Group exercised significant assumptions and
mengestimasi jumlah beban akrual pemasaran dan judgements to estimate the accrued marketing and
promosi pada akhir tahun. Asumsi-asumsi utama dalam promotion expenses amounts at the end of the year. The
penentuan beban akrual pemasaran dan promosi adalah key assumptions in determining the accrued marketing and
harga barang promosi dan estimasi pencapaian penjualan. promotion expenses were price of the promotional goods
Ketidakpastian muncul sehubungan dengan harga barang and estimated sales achievement. Uncertainties exist with
promosi dan jumlah aktual pencapaian penjualan, yang respect to price of the promotional goods and the actual
mungkin berbeda dengan estimasi. Setiap perubahan dari sales achievement, which may be different from the
faktor-faktor ini akan berdampak pada jumlah realisasi estimation. Any changes in these factors will impact the
yang dapat berbeda dari beban akrual pemasaran dan realisable amount which can be different from the reported
promosi. accrued marketing and promotion expenses.
Nilai wajar aset tetap (tanah) dan properti investasi (tanah Fair value fixed assets (land) and investment properties
dan bangunan) (land and buildings)
Nilai wajar dari aset tetap (tanah) dan properti investasi The fair value of fixed assets (land) and investment
(tanah dan bangunan) ditentukan menggunakan teknik properties (land and buildings) is determined by using
valuasi. Aset tetap (tanah) dan properti investasi (tanah valuation techniques. The Group’s fixed assets (land) and
dan bangunan) milik Grup divaluasi oleh penilai investment properties (land and buildings) were valued by
independen profesional yang memiliki kualifikasi yang independent professionally qualified valuers who hold a
relevan dan pengalaman yang berhubungan dengan lokasi recognised relevant professional qualification and have
dan segmen aset tetap (tanah) dan properti investasi recent experience in the locations and segment of the fixed
(tanah dan bangunan) yang akan dinilai. Untuk semua assets (land) and investment properties (land and buildings)
penilaian, penggunaan saat ini setara dengan penggunaan valued. For all valuations, their current use equates to the
tertinggi dan terbaik. highest and best use.
48
Page 165
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
4. PERTIMBANGAN AKUNTANSI PENTING DAN 4. CRITICAL ACCOUNTING JUDGMENTS AND KEY
SUMBER UTAMA KETIDAKPASTIAN ESTIMASI SOURCES OF ESTIMATION UNCERTAINTY (continued)
(lanjutan)
Nilai wajar aset tetap (tanah) dan properti investasi (tanah Fair value fixed assets (land) and investment properties
dan bangunan) (lanjutan) (land and buildings) (continued)
Nilai wajar untuk tanah yang dimiliki dalam aset tetap dan The fair value for land held in fixed assets and investment
properti investasi ditentukan menggunakan pendekatan properties was determined using the market approach. This
pasar. Pendekatan ini mempertimbangkan nilai pasar approach takes into account the market price of land for
tanah untuk properti pembanding di sekitar lokasi, dengan comparable properties in the vicinity, with certain
penyesuaian- penyesuaian tertentu yang dilakukan adjustments for differences due to different characteristics
dengan mempertimbangkan perbedaan karakteristik dari of the land, such as land certificate status, property size,
tanah tersebut, seperti status sertifikasi tanah, ukuran location and accessibility. The most significant input into this
properti, lokasi, akses menuju lokasi. Hal yang paling valuation approach is the land market price per square
signifikan dalam pendekatan ini adalah harga pasar tanah metre.
per meter persegi.
Taksiran masa manfaat ekonomis aset tetap Estimated useful lives of fixed assets
Aset tetap disusutkan dengan menggunakan metode garis The fixed assets are depreciated on a straight-line method
lurus berdasarkan taksiran masa manfaat ekonomisnya. over their estimated useful lives. Management estimates the
Manajemen mengestimasi masa manfaat ekonomis aset useful lives of these fixed assets to be within 4 to 30 years.
tetap antara 4 sampai dengan 30 tahun.
Grup secara periodik menelaah estimasi masa manfaat The Group periodically reviews the estimated useful lives of
aset tetap berdasarkan beberapa faktor diantaranya fixed assets based on several factors such as technical
spesifikasi teknis, operasi dan kebutuhan usaha. Laporan specification, operation and business needs. The
keuangan konsolidasian dapat terpengaruh secara consolidated financial statements could be materially
material terhadap perubahan dalam estimasi tersebut. affected by changes in these estimates. Management will
Manajemen akan merevisi beban penyusutan dimana revise the depreciation charged where useful lives are
masa manfaatnya berbeda dari estimasi sebelumnya, atau different to those previously estimated, or it will write off or
penghapusan atau melakukan penurunan nilai atas aset written down technically obsolete or non-strategic assets
yang secara teknis telah usang atau aset non-strategis that have been abandoned or sold. Further details are
yang dihentikan penggunaannya atau dijual. Penjelasan disclosed in Note 13.
lebih rinci diungkapkan dalam Catatan 13.
Sewa Leases
Penentuan apakah suatu perjanjian merupakan atau Determining whether an arrangement is or contains a lease
mengandung sewa memerlukan pertimbangan yang requires careful judgement to assess whether the
cermat untuk menilai apakah perjanjian tersebut arrangement conveys a right to obtain substantially all the
memberikan hak untuk memperoleh secara substansial economic benefits from the use of the asset throughout the
seluruh manfaat ekonomi dari penggunaan aset selama period of use and the right to direct the use of the asset,
periode penggunaan dan hak untuk mengarahkan even if the right is not explicitly specified in the
penggunaan aset, bahkan jika hak tidak secara eksplisit arrangement.
ditentukan dalam pengaturan.
Grup memiliki berbagai perjanjian sewa dimana Grup The Group has various lease agreements where the Group
bertindak sebagai lessee sehubungan dengan aset acts as a lessee in respect of certain assets. The Group
tertentu. Grup mengevaluasi apakah risiko dan manfaat evaluates whether significant risks and rewards of
yang signifikan atas kepemilikan aset sewaan dialihkan ownership of the leased asset are transferred to the lessee
kepada penyewa atau dipertahankan oleh Grup or retained by the Group based on PSAK 116, which
berdasarkan PSAK 116, yang mengharuskan Grup untuk requires the Group to make judgements and estimates of
membuat pertimbangan dan estimasi atas pengalihan the transfer of risks and rewards of ownership of the leased
risiko dan manfaat kepemilikan aset yang disewa. asset.
49
Page 166
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
4. PERTIMBANGAN AKUNTANSI PENTING DAN 4. CRITICAL ACCOUNTING JUDGMENTS AND KEY
SUMBER UTAMA KETIDAKPASTIAN ESTIMASI SOURCES OF ESTIMATION UNCERTAINTY (continued)
(lanjutan)
Sewa (lanjutan) Leases (continued)
Karena Grup tidak dapat dengan mudah menentukan suku Since the Group could not readily determine the implicit
bunga implisit, manajemen menggunakan suku bunga rate, management uses the Group’s incremental borrowing
pinjaman inkremental Grup sebagai tingkat diskonto. Ada rate as a discount rate. There are a number of factors to
beberapa faktor yang perlu dipertimbangkan dalam consider in determining an incremental borrowing rate,
menentukan suku bunga pinjaman inkremental, yang many of which need judgement in order to be able to
banyak di antaranya memerlukan pertimbangan untuk reliably quantify any necessary adjustments to arrive at the
dapat secara andal mengukur penyesuaian yang final discount rates. In determining the incremental
diperlukan untuk sampai pada tingkat diskonto akhir. borrowing rate, the Group considers the following main
Dalam menentukan suku bunga pinjaman inkremental, factors: the Group’s corporate credit risk, the lease term, the
Grup mempertimbangkan faktor-faktor utama berikut: lease payment term, the economic environment, the time at
risiko kredit korporat Grup, jangka waktu sewa, jangka which the lease is entered into, and the currency in which
waktu pembayaran sewa, lingkungan ekonomi, waktu di the lease payments are denominated.
mana sewa dimasukkan, dan mata uang di mana
pembayaran sewa ditentukan.
Grup menentukan jangka waktu sewa sebagai jangka The Group determines the lease term as the non-
waktu sewa yang tidak dapat dibatalkan, bersama dengan cancellable term of the lease, together with any periods
setiap periode yang tercakup dalam opsi untuk covered by an option to extend the lease if it is reasonably
memperpanjang sewa jika cukup pasti akan dilaksanakan, certain to be exercised, or any periods covered by an option
atau setiap periode yang tercakup dalam opsi untuk to terminate the lease, if it is reasonably certain not to be
mengakhiri sewa, jika cukup pasti untuk tidak dilakukan. exercised.
Pertimbangan dilakukan dalam mengevaluasi apakah The Group applies judgement in evaluating whether it is
cukup pasti akan menggunakan opsi untuk memperbarui reasonably certain whether or not to exercise the option to
atau mengakhiri sewa. Artinya, Grup mempertimbangkan renew or terminate the lease. That is, it considers all
seluruh faktor relevan yang menciptakan insentif ekonomi relevant factors that create an economic incentive for it to
untuk melakukan pembaruan atau penghentian. Grup juga exercise either the renewal or termination. The Group also
mempertimbangkan apakah ada penalti signifikan untuk considers whether there are significant penalties to
membatalkan (atau untuk tidak memperpanjang) kontrak, terminate (or not extend) the contracts, any leasehold
adanya leasehold improvement yang diperkirakan memiliki improvement are expected to have a significant remaining
nilai sisa yang signifikan atau faktor lain mencakup sejarah value or other factors including historical lease durations
durasi sewa dan biaya serta halangan bisnis untuk and the costs and business disruption required to replace
menggantikan aset sewa dalam menelaah hak yang dapat the leased assets in assessing the enforceable rights to
dipaksakan untuk memperpanjang sewa diluar kontrak extend the lease beyond the written contract.
tertulis.
Grup menilai kembali masa sewa jika ada peristiwa atau The Group reassesses the lease term if there is a significant
perubahan signifikan dalam keadaan yang berada dalam event or change in circumstances that is within its control
kendali dan memengaruhi kemampuan Grup untuk and affects its ability to exercise or not to exercise the
menggunakan atau tidak menggunakan opsi untuk option to renew or to terminate.
memperbarui atau menghentikan.
Penilaian instrumen keuangan Valuation of financial instruments
Grup mencatat aset dan liabilitas keuangan tertentu pada The Group’s carry certain financial assets and liabilities at
nilai wajar, yang mengharuskan penggunaan estimasi fair value, which requires the use of accounting estimates.
akuntansi. Sementara komponen signifikan atas While significant components of fair value measurement
pengukuran nilai wajar ditentukan menggunakan bukti were determined using verifiable objective evidences, the
obyektif yang dapat diverifikasi, jumlah perubahan nilai amount of changes in fair value would differ if the Company
wajar dapat berbeda bila Grup menggunakan metodologi utilized a different valuation methodology. Any changes in a
penilaian yang berbeda. Perubahan nilai wajar aset dan fair value of these financial assets and liabilities would
liabilitas keuangan tersebut dapat mempengaruhi secara directly affect the Company’s other comprehensive income.
langsung penghasilan komprehensif lain Grup.
50
Page 167
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
4. PERTIMBANGAN AKUNTANSI PENTING DAN 4. CRITICAL ACCOUNTING JUDGMENTS AND KEY
SUMBER UTAMA KETIDAKPASTIAN ESTIMASI SOURCES OF ESTIMATION UNCERTAINTY (continued)
(lanjutan)
Penilaian instrumen keuangan (lanjutan) Valuation of financial instruments (continued)
Nilai tercatat dari aset keuangan dan liabilitas keuangan The carrying amounts of financial assets and financial
pada nilai wajar dalam laporan posisi keuangan liabilities carried at fair values in the consolidated
konsolidasian pada tanggal 31 Desember 2025 dan 2024 statements of financial position as of December 31, 2025
diungkapkan dalam Catatan 33. and 2024 are disclose in Note 33.
Penyisihan persediaan usang dan lambat bergerak Allowance for obsolescence and slow-moving inventories
Penyisihan persediaan usang dan lambat bergerak Allowance for obsolescence and slow-moving inventories is
diestimasi berdasarkan fakta dan situasi terbaik yang estimated based on the best available facts and
tersedia, termasuk namun tidak terbatas kepada, kondisi circumstances, including but not limited to, the inventories’
fisik persediaan yang dimiliki, harga jual pasar, estimasi own physical conditions, their market selling prices,
biaya penyelesaian dan estimasi biaya yang timbul untuk estimated costs of completion and estimated costs to be
penjualan. Provisi dievaluasi kembali dan disesuaikan jika incurred for their sales. The provisions are re-evaluated and
terdapat tambahan informasi yang mempengaruhi jumlah adjusted as additional information received affects the
yang diestimasi. Nilai tercatat persediaan diungkapkan amount estimated. The carrying amounts of inventories are
dalam Catatan 9. disclosed in Note 9.
Imbalan pasca kerja dan pensiun Pension and employee benefits
Penentuan utang dan biaya pensiun dan liabilitas imbalan The determination of the Group’s obligations and cost for
kerja Grup bergantung pada pemilihan asumsi yang pension and employee benefits liabilities is dependent on its
digunakan oleh aktuaris independen dalam menghitung selection of certain assumptions used by the independent
jumlah-jumlah tersebut. Asumsi tersebut termasuk antara actuaries in calculating such amounts. Those assumptions
lain, tingkat diskonto, tingkat kenaikan gaji tahunan, tingkat include among others, discount rates, future annual salary
pengunduran diri karyawan tahunan, tingkat kecacatan, increase, annual employee turn-over rate, disability rate,
umur pensiun dan tingkat kematian. Hasil aktual yang retirement age and mortality rate. Actual results that differ
berbeda dari asumsi yang ditetapkan Grup diakui segera from the Group’s assumptions are recognized immediately
sebagai pos terpisah pada penghasilan komprehensif lain as a separate item under other comprehensive income in
di ekuitas. Sementara Grup berkeyakinan bahwa asumsi equity. While the Group believes that its assumptions are
tersebut adalah wajar dan sesuai, perbedaan signifikan reasonable and appropriate, significant differences in the
pada hasil aktual atau perubahan signifikan dalam asumsi Group’s actual experiences or significant changes in the
yang ditetapkan Grup dapat mempengaruhi secara Group’s assumptions may materially affect its estimated
material liabilitas diestimasi atas pensiun dan imbalan liabilities for pension and employee benefits and net
kerja dan beban imbalan kerja neto. Nilai tercatat liabilitas employee benefits expense. The carrying amount of the
imbalan kerja diungkapkan pada Catatan 19. employee benefits obligation are disclosed in Note 19.
Penurunan nilai piutang usaha dan lain-lain Impairment of trade and other receivables
Grup menggunakan matriks provisi untuk menghitung ECL The Group uses a provision matrix to calculate ECLs for
atas piutang usaha dan lain-lain. Tarif provisi didasarkan trade and other receivables. The provision rates are based
pada hari yang lewat jatuh tempo untuk mengelompokan on days past due for groupings of various customer
pelanggan ke segmen yang memiliki pola kerugian serupa. segments that have similar loss patterns. The provision
Matriks provisi awalnya berdasarkan tarif default yang matrix is initially based on the Group’s historical observed
diamati Grup secara historis. Grup akan mengkalibrasi default rates. The Group will calibrate the matrix to adjust
matriks tersebut untuk menyesuaikan pengalaman the historical credit loss experience with forward-looking
kerugian kredit historis dengan informasi kedepan. information.
51
Page 168
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
4. PERTIMBANGAN AKUNTANSI PENTING DAN 4. CRITICAL ACCOUNTING JUDGMENTS AND KEY
SUMBER UTAMA KETIDAKPASTIAN ESTIMASI SOURCES OF ESTIMATION UNCERTAINTY (continued)
(lanjutan)
Penurunan nilai piutang usaha dan lain-lain (lanjutan) Impairment of trade and other receivables (continued)
Misalnya, jika prakiraan kondisi ekonomi diperkirakan For instance, if forecast economic conditions are expected
memburuk selama tahun depan yang dapat menyebabkan to deteriorate over the next year which can lead to an
peningkatan jumlah default di sektor usaha Grup, tingkat increased number of defaults in the Group’s industry sector,
default historis disesuaikan. Pada setiap tanggal the historical default rates are adjusted. At every reporting
pelaporan, tarif default yang diamati secara historis date, the historical observed default rates are updated and
diperbarui dan perubahan dalam estimasi ke depan changes in the forward-looking estimates are analysed.
dianalisa kembali.
Penilaian korelasi antara tingkat default yang diamati The assessment of the correlation between historical
secara historis, prakiraan kondisi ekonomi, dan ECL observed default rates, forecast economic conditions and
adalah estimasi signifikan. Jumlah ECL sensitif terhadap ECLs is a significant estimate. The amount of ECLs is
perubahan keadaan dan prakiraan kondisi ekonomi. sensitive to changes in circumstances and of forecast
Pengalaman kerugian kredit historis Grup dan prakiraan economic conditions. The Group’s historical credit loss
kondisi ekonomi mungkin tidak mewakili actual default experience and forecast of economic conditions may also
pelanggan di masa depan. Informasi mengenai ECL atas not be representative of customer’s actual default in the
piutang usaha Grup diungkapkan pada Catatan 6. future. The information about the ECLs on the Group’s trade
receivables is disclosed in Note 6.
Menentukan apakah poin loyalitas memberikan hak Determining whether the loyalty points provide material
material kepada pelanggan rights to customers
Segmen ritel Grup menjalankan program poin loyalitas The Group’s retail segment operates a loyalty points
yang memungkinkan pelanggan untuk mengumpulkan program which allows customers to accumulate points when
poin ketika mereka membeli barang di toko ritel Grup. they purchase products in the Group’s retail stores. The
Poin-poin tersebut dapat ditukarkan dengan produk gratis, points can be redeemed for free products, subject to a
bergantung pada jumlah poin minimum yang diperoleh. minimum number of points obtained. The Group assessed
Grup menilai apakah poin loyalitas tersebut memberikan whether the loyalty points provide a material right to the
hak material kepada pelanggan yang perlu untuk customers that needs to be accounted for as a separate
diperhitungkan sebagai kewajiban pelaksanaan terpisah. performance obligation.
Grup menetapkan bahwa poin loyalitas memberikan hak The Group determined that the loyalty points provide a
material yang tidak akan diterima pelanggan tanpa material right that customers would not receive without
menandatangani kontrak. Produk gratis yang diterima entering into the contract. The free products the customers
pelanggan ketika menukar poin loyalitasnya tidak would receive by exercising the loyalty points do not reflect
mencerminkan harga yang berdiri sendiri yang akan the stand-alone selling price that customers without an
dibayar oleh pelanggan yang tidak memiliki hubungan existing relationship with the Group would pay for those
dengan Grup untuk produk tersebut. Hak pelanggan juga products. The customers’ right also accumulates as they
terkumpul ketika membeli produk tambahan. purchase additional products.
Pajak penghasilan Income tax
Pertimbangan signifikan dilakukan dalam menentukan Significant judgment is involved in determining the provision
provisi atas pajak penghasilan badan. Terdapat transaksi for corporate income tax. There are certain transactions and
dan perhitungan tertentu yang penentuan pajak akhirnya computation for which the ultimate tax determination is
adalah tidak pasti dalam kegiatan usaha normal. Karena uncertain during the ordinary course of business. Due to the
ketidakpastian sehubungan dengan pos-pos pajak uncertainty associated with such tax items, there is a
tersebut, terdapat kemungkinan bahwa, pada saat possibility that, on conclusion of open tax matters at a future
penyelesaian perpajakan di masa depan, hasil terakhir date, the final outcome may differ significantly. Further
dapat berbeda secara signifikan. Penjelasan lebih rinci details are disclosed in Note 20.
diungkapkan dalam Catatan 20.
52
Page 169
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
4. PERTIMBANGAN AKUNTANSI PENTING DAN 4. CRITICAL ACCOUNTING JUDGMENTS AND KEY
SUMBER UTAMA KETIDAKPASTIAN ESTIMASI SOURCES OF ESTIMATION UNCERTAINTY (continued)
(lanjutan)
Aset pajak tangguhan Deferred tax assets
Aset pajak tangguhan diakui atas perbedaan temporer Deferred tax assets are recognized for deductible temporary
yang dapat dikurangkan dan seluruh rugi fiskal yang difference and all unused tax losses to the extent that it is
belum digunakan sepanjang besar kemungkinannya probable that taxable profit will be available against which
bahwa penghasilan kena pajak akan tersedia sehingga the losses can be utilized. Significant management
rugi fiskal tersebut dapat digunakan. Estimasi signifikan estimates are required to determine the amount of deferred
oleh manajemen diharuskan dalam menentukan jumlah tax assets that can be recognized, based upon the likely
aset pajak tangguhan yang dapat diakui, berdasarkan saat timing and the level of future taxable profits together with
penggunaan dan tingkat penghasilan kena pajak serta future tax planning strategies. Further details are disclosed
strategi perencanaan pajak masa depan. Rincian lebih in Note 20.
lanjut diungkapkan dalam Catatan 20.
Penurunan nilai aset non-keuangan Impairment of non-financial assets
Penurunan nilai muncul saat jumlah tercatat aset atau unit An impairment exists when the carrying amount of an asset
penghasil kas melebihi nilai terpulihkannya, yang lebih or cash-generating unit exceeds its recoverable amount,
besar antara nilai wajar dikurangi biaya untuk menjual dan which is the higher of its fair value less costs to sell and its
nilai pakainya. Nilai wajar dikurangi biaya untuk menjual value in use. The fair value less costs to sell calculation is
didasarkan pada ketersediaan data dari perjanjian based on available data from binding sales transactions in
penjualan yang mengikat yang dibuat dalam transaksi an arm’s length transaction of similar assets or observable
normal atas aset serupa atau harga pasar yang dapat market prices less incremental costs for disposing of the
diamati dikurangi dengan biaya tambahan yang dapat asset. The value in use calculation is based on a discounted
diatribusikan dengan pelepasan aset. Perhitungan nilai cash flow model. The cash flows are derived from the
pakai didasarkan pada model arus kas yang budget for the next five years and do not include
didiskontokan. Data arus kas diambil dari anggaran untuk restructuring activities that the Group is not yet committed to
lima tahun yang akan datang dan tidak termasuk aktivitas or significant future investments that will enhance the
restrukturisasi yang belum dilakukan oleh Grup atau asset’s performance of the cash-generating unit being
investasi signifikan dimasa datang yang akan tested. The recoverable amount is most sensitive to the
memutakhirkan kinerja aset dari unit penghasil kas yang discount rate used for the discounted cash flow model as
diuji. Nilai terpulihkan paling dipengaruhi oleh tingkat well as the expected future cash inflows and the growth rate
diskonto yang digunakan dalam model arus kas yang used for extrapolation purposes.
didiskontokan, sebagaimana juga jumlah arus kas masuk
di masa datang yang diharapkan dan tingkat pertumbuhan
yang digunakan untuk tujuan ekstrapolasi.
Manajemen berkeyakinan bahwa tidak terdapat indikasi Management believes that there is no indication of potential
atas penurunan nilai aset non-keuangan pada tanggal impairment in values of non-financial assets as of
31 Desember 2025 dan 2024. December 31, 2025 and 2024.
53
Page 170
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
5. KAS DAN SETARA KAS 5. CASH AND CASH EQUIVALENTS
2025 2024
Kas Cash on hand
Rupiah 2,981 3,407 Rupiah
Lain-lain 25 81 Others
Jumlah kas 3,006 3,488 Total cash on hand
Kas di bank Cash in banks
Rupiah Rupiah
PT Bank Mandiri (Persero) Tbk 188,348 84,017 PT Bank Mandiri (Persero) Tbk
PT Bank UOB Indonesia 101,577 164,238 PT Bank UOB Indonesia
PT Bank Danamon Indonesia Tbk 74,855 106,965 PT Bank Danamon Indonesia Tbk
PT Bank Central Asia Tbk 27,097 36,087 PT Bank Central Asia Tbk
PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia
(Persero) Tbk 9,440 6,114 (Persero) Tbk
PT Bank Syariah Indonesia Tbk 6,216 1,142 PT Bank Syariah Indonesia Tbk
PT Bank OCBC NISP Tbk 3,991 1,977 PT Bank OCBC NISP Tbk
PT Bank Tabungan Negara Tbk 2,887 2,756 PT Bank Tabungan Negara Tbk
PT Bank Permata Tbk 428 2,450 PT Bank Permata Tbk
Lain-lain 1,914 4,994 Others
Dolar AS US Dollar
PT Bank Mandiri (Persero) Tbk PT Bank Mandiri (Persero) Tbk
(AS$ 3.017 pada tahun 2025 dan (US$ 3,017 in 2025 and
AS$ 16.249 pada tahun 2024) 51 263 US$ 16,249 in 2024)
Jumlah kas di bank 416,804 411,003 Total cash in banks
Deposito Time deposits
Rupiah Rupiah
PT Bank Tabungan Negara Tbk 535,000 670,000 PT Bank Tabungan Negara Tbk
PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia
(Persero) Tbk 250,000 600,000 (Persero) Tbk
PT Bank Mandiri Taspen 150,000 150,000 PT Bank Mandiri Taspen
PT Bank Maspion Indonesia Tbk 150,000 150,000 PT Bank Maspion Indonesia Tbk
PT Bank Danamon Indonesia Tbk 100,000 100,000 PT Bank Danamon Indonesia Tbk
PT Bank Pan Indonesia Tbk 50,000 100,000 PT Bank Pan Indonesia Tbk
PT Bank Maybank Indonesia Tbk - 100,000 PT Bank Maybank Indonesia Tbk
PT Bank Permata Tbk - 25,000 PT Bank Permata Tbk
PT Bank Mandiri (Persero) Tbk - 20,000 PT Bank Mandiri (Persero) Tbk
Jumlah deposito 1,235,000 1,915,000 Total time deposits
Jumlah (tidak termasuk cerukan) 1,654,810 2,329,491 Total (excluding bank overdraft)
Tingkat bunga deposito per tahun 4.50% - 6.50% 6.50% - 6.75% Annual interest rates of time deposits
Kas dan setara kas termasuk hal-hal berikut untuk Cash and cash equivalents include the following for the
kepentingan penyajian laporan arus kas konsolidasian: purposes of the consolidated statement of cash flows:
2025 2024
Kas dan setara kas 1,654,810 2,329,491 Cash and cash equivalents
Cerukan (Catatan 18) (7,187 ) (9,189 ) Bank overdraft (Note 18)
Kas dan setara kas 1,647,623 2,320,302 Cash and cash equivalents
Tidak terdapat saldo kas dan setara kas yang digunakan There is no balance of cash and cash equivalents pledged
sebagai jaminan dan dibatasi penggunaannya. as collateral and restricted in use.
54
Page 171
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
6. PIUTANG USAHA 6. TRADE RECEIVABLES
2025 2024
Pihak ketiga 1,625,076 1,446,729 Third parties
Dikurangi: penyisihan atas Less: allowance for expected
kerugian kredit ekspektasian (2,860 ) (1,311 ) credit losses
Pihak ketiga - neto 1,622,216 1,445,418 Third parties - net
Pihak berelasi (Catatan 7) 8,047 16,319 Related parties (Note 7)
Piutang usaha - neto 1,630,263 1,461,737 Trade receivables - net
Jangka waktu rata-rata kredit penjualan barang adalah The average credit period on sale of goods is 42 days. No
42 hari. Tidak ada bunga yang dibebankan pada piutang interest is charged on trade receivables.
usaha.
Analisa umur piutang usaha adalah sebagai berikut: The aging analysis of trade receivables is as follows:
2025 2024
Belum jatuh tempo 1,590,071 1,416,747 Not yet due
Lewat jatuh tempo: Overdue:
1 - 30 hari 20,294 23,677 1 - 30 days
31 - 60 hari 10,316 9,717 31 - 60 days
Lebih dari 60 hari 12,442 12,907 Over 60 days
Dikurangi: penyisihan atas Less: allowance for expected
kerugian kredit ekspektasian (2,860 ) (1,311 ) credit losses
Jumlah piutang usaha 1,630,263 1,461,737 Total trade receivables
Mutasi penyisihan atas ECL piutang usaha Grup adalah Movements in the Group’s allowance for ECLs of trade
sebagai berikut: receivables are as follows:
2025 2024
Saldo awal (1,311 ) (1,469 ) Beginning balances
Perubahan selama tahun Changes during
berjalan (1,549 ) 158 the year
Saldo akhir (2,860 ) (1,311 ) Ending balances
Berdasarkan hasil penelaahan keadaan piutang pada Based on a review of the status of receivable accounts at
akhir periode pelaporan, manajemen Grup berkeyakinan the end of the reporting period, the Group’s management
bahwa penyisihan atas kerugian kredit ekspektasian telah believes that the allowance for expected credit losses is
memadai untuk menutup kemungkinan kerugian atas tidak adequate to cover possible losses from uncollectible
tertagihnya piutang usaha. receivables.
Pada tanggal 31 Desember 2025 dan 2024, seluruh As of December 31, 2025 and 2024, all of the Group’s trade
piutang usaha Grup dalam mata uang Rupiah. receivables are denominated in Rupiah.
Pada tanggal 31 Desember 2025 dan 2024, piutang usaha As of December 31, 2025 and 2024, trade receivables
masing-masing sebesar Rp 1.590.071 dan Rp 1.416.747 amounting to Rp 1,590,071 and Rp 1,416,747, respectively,
belum jatuh tempo dan tidak mengalami penurunan nilai. were not past due and not impaired. These receivables will
Piutang ini akan jatuh tempo dalam waktu 1-60 hari. be due in 1-60 days.
55
Page 172
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
6. PIUTANG USAHA (lanjutan) 6. TRADE RECEIVABLES (continued)
Pada tanggal 31 Desember 2025 and 2024 terdapat As of December 31, 2025 and 2024, trade receivables
piutang usaha masing-masing sebesar Rp 40.192 dan amounting to Rp 40,192 and Rp 44,990, respectively, were
Rp 44.990 telah lewat jatuh tempo namun tidak mengalami past due but not impaired. These relate to a number of
penurunan nilai. Piutang tersebut berasal dari sejumlah independent customers for whom there is no recent history
pelanggan yang tidak memiliki sejarah gagal bayar. of default.
Pada tanggal 31 Desember 2025 dan 2024, piutang usaha As of December 31, 2025 and 2024, trade receivables
masing-masing sebesar Rp 2.860 dan Rp 1.311 amounting to Rp 2,860 and Rp 1,311, respectively, were
mengalami penurunan nilai dan telah diprovisikan. impaired and have been fully provisioned.
Pada tanggal 31 Desember 2025 dan 2024, piutang usaha As of December 31, 2025 and 2024, certain trade
tertentu Grup dijaminkan atas fasilitas pinjaman dari receivables of the Group are pledged as collateral for the
PT Bank Mandiri (Persero) Tbk dengan perjanjian fidusia loan facilities from PT Bank Mandiri (Persero) Tbk with
senilai Rp 562.860 (Catatan 18). fiduciary agreement totalling Rp 562,860 (Note 18).
Lihat Catatan 33 mengenai risiko kredit piutang usaha Refer to Note 33 on the credit risk of trade receivables to
untuk memahami bagaimana Grup mengelola dan understand how the Group manages and measures the
mengukur kualitas kredit piutang usaha. credit quality of trade receivables.
7. SALDO DAN TRANSAKSI DENGAN PIHAK BERELASI 7. BALANCES AND TRANSACTIONS WITH RELATED
PARTIES
a. Sifat hubungan pihak berelasi a. Nature of relationship
Dalam kegiatan usaha normal, Grup melakukan In the normal course of business, the Group enters
transaksi usaha dan lainnya dengan pihak-pihak into trade and other transactions with related parties,
berelasi, yang terafiliasi dengan Grup melalui which are affiliated with the Group through direct or
kepemilikan langsung dan tak langsung, dan/atau indirect ownership, and/or under common control
dibawah entitas sepengendali. Transaksi antara entity. The transactions among related parties are
pihak-pihak berelasi dilakukan berdasarkan made based on terms agreed by the parties.
persyaratan yang disetujui oleh kedua belah pihak.
Saldo dan transaksi antara entitas induk dan entitas Balances and transactions between the parent
anaknya, yang merupakan pihak berelasi, telah company and its subsidiaries, which are related
dieliminasi pada saat konsolidasi dan tidak parties, have been eliminated on consolidation and are
diungkapkan dalam catatan ini. not disclosed in this note.
Dalam kegiatan usahanya, Grup melakukan transaksi In the normal course of business, the Group entered
tertentu dengan pihak berelasi, yang meliputi antara into certain transactions with related parties, including
lain: the following:
Pihak-pihak berelasi/ Sifat hubungan/ Jenis transaksi/
Related parties Nature of relationship Nature of transactions
PT Avia Avian Memiliki personil manajemen kunci yang Penjualan barang, pembelian alat-alat dan
Industri Pipa sama dan dalam entitas sepengendali/ bahan bangunan, pendapatan sewa
Have the same key management bangunan kantor dan penggantian biaya/
personnel and under common control entity Sales of goods, purchase of tools and building
materials, office building rent income and
expense reimbursement
PT Bangun Bersama Investasi pada ventura bersama/ Penjualan barang, pendapatan sewa bangunan
Solusindo Investment in joint venture kantor dan pembelian bahan bangunan/
Sales of goods, office building rental income
and purchases of building materials
PT Caturkarda Depo Memiliki personil manajemen kunci yang Penjualan barang/Sales of goods
Bangunan Tbk sama dan dalam entitas sepengendali/
Have the same key management
personnel and under common control entity
56
Page 173
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
7. SALDO DAN TRANSAKSI DENGAN PIHAK BERELASI 7. BALANCES AND TRANSACTIONS WITH
(lanjutan) RELATED PARTIES (continued)
a. Sifat hubungan pihak berelasi (lanjutan) a. Nature of relationship (continued)
Pihak-pihak berelasi/ Sifat hubungan/ Jenis transaksi/
Related parties Nature of relationship Nature of transactions
PT CMN Indonesia Memiliki personil manajemen kunci yang Pembelian hadiah/Purchase of merchandise
sama dan dalam entitas sepengendali/
Have the same key management
personnel and under common control entity
PT Kencana Memiliki personil manajemen kunci yang Penjualan barang, pembelian alat-alat dan
Lintasindo sama dan dalam entitas sepengendali/ bahan bangunan dan penggantian biaya/
Internasional Have the same key management Sales of goods, purchase of tools and building
personnel and under common control entity materials and expense reimbursement
PT Megadepo Memiliki personil manajemen kunci yang Penjualan barang dan pembelian alat-alat dan
Indonesia sama dan dalam entitas sepengendali/ bahan bangunan/Sales of goods and
Have the same key management purchases of tools and building materials
personnel and under common control entity
PT Mitra Mulia Memiliki personil manajemen kunci yang Penjualan barang, pembelian bahan pembantu
Makmur sama dan dalam entitas sepengendali/ dan pendapatan sewa bangunan pabrik/
Have the same key management Sales of goods, purchase of supplies
personnel and under common control entity and building materials and factory
building rent income
PT Panca Memiliki personil manajemen kunci yang Penjualan barang dan pembelian alat-alat dan
Kalsiumindo sama dan dalam entitas sepengendali/ bahan bangunan, jasa produksi/Sales of goods and
Perkasa Have the same key management purchases of tools and building materials, production
personnel and under common control entity services
PT Sarana Depo Memiliki personil manajemen kunci yang Penjualan barang dan sewa bangunan/
Kencana sama dan dalam entitas sepengendali/ Sales of goods and building rent
Have the same key management
personnel and under common control entity
PT Wahana Lentera Memiliki personil manajemen kunci yang Penjualan barang, pembelian alat-alat dan
Raya sama dan dalam entitas sepengendali/ bahan bangunan, pendapatan sewa
Have the same key management bangunan kantor dan penggantian biaya/
personnel and under common control entity Sales of goods, purchase of tools and building
materials, office building rent income
and expense reimbursement
Dewan Komisaris Manajemen personil kunci/ Gaji dan imbalan kerja jangka pendek
dan Direksi/ Key management personnel lainnya/Salaries and other short-term
Board of compensation benefits
Commissioners
and Directors
b. Saldo dengan pihak berelasi b. Balances with related parties
2025 2024
Piutang usaha Trade receivables
PT Megadepo Indonesia 4,074 5,202 PT Megadepo Indonesia
PT Caturkarda Depo Bangunan Tbk 2,027 8,018 PT Caturkarda Depo Bangunan Tbk
PT Bangun Bersama Solusindo 1,666 1,940 PT Bangun Bersama Solusindo
Lain-lain 280 1,159 Others
Jumlah 8,047 16,319 Total
Persentase terhadap jumlah aset 0.07% 0.15% Percentage to total assets
Piutang lain-lain Other receivables
PT Avia Avian Industri Pipa 90,703 70,752 PT Avia Avian Industri Pipa
PT Wahana Lentera Raya 11,370 10,293 PT Wahana Lentera Raya
PT Bangun Bersama Solusindo 1,292 927 PT Bangun Bersama Solusindo
Lain-lain 1,394 1,311 Others
Jumlah 104,759 83,283 Total
Persentase terhadap jumlah aset 0.95% 0.75% Percentage to total assets
57
Page 174
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
7. SALDO DAN TRANSAKSI DENGAN PIHAK BERELASI 7. BALANCES AND TRANSACTIONS WITH
(lanjutan) RELATED PARTIES (continued)
b. Saldo dengan pihak berelasi (lanjutan) b. Balances with related parties (continued)
2025 2024
Beban dibayar dimuka Prepaid expenses
Lain-lain 25 25 Others
Persentase terhadap jumlah aset 0.00% 0.00% Percentage to total assets
Aset hak-guna Right-of-use assets
PT Sarana Depo Kencana 55,841 52,622 PT Sarana Depo Kencana
Persentase terhadap jumlah aset 0.50% 0.48% Percentage to total assets
Utang usaha Trade payables
PT Avia Avian Industri Pipa 233,967 207,725 PT Avia Avian Industri Pipa
PT Wahana Lentera Raya 48,828 47,315 PT Wahana Lentera Raya
PT Kencana Lintasindo Internasional 32,958 20,006 PT Kencana Lintasindo Internasional
PT Mitra Mulia Makmur 29,606 75,906 PT Mitra Mulia Makmur
PT Bangun Bersama Solusindo 5,837 8,234 PT Bangun Bersama Solusindo
PT Panca Kalsiumindo Perkasa 4,436 3,745 PT Panca Kalsiumindo Perkasa
Lain-lain 9 10 Others
Jumlah 355,641 362,941 Total
Persentase terhadap jumlah
liabilitas 23.03% 25.40% Percentage to total liabilities
Utang lain-lain Other payables
Lain-lain 710 487 Others
Persentase terhadap jumlah
liabilitas 0.05% 0.03% Percentage to total liabilities
Pendapatan diterima dimuka Unearned revenue
Lain-lain 1,606 1,611 Others
Persentase terhadap jumlah
liabilitas 0.10% 0.11% Percentage to total liabilities
Liabilitas sewa Lease liabilities
PT Sarana Depo Kencana 55,841 52,622 PT Sarana Depo Kencana
Persentase terhadap jumlah Percentage to total
liabilitas 3.62% 3.68% liabilities
58
Page 175
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
7. SALDO DAN TRANSAKSI DENGAN PIHAK BERELASI 7. BALANCES AND TRANSACTIONS WITH
(lanjutan) RELATED PARTIES (continued)
c. Transaksi dengan pihak berelasi c. Transactions with related parties
2025 2024
Penjualan Revenue
PT Megadepo Indonesia 21,303 20,185 PT Megadepo Indonesia
PT Caturkarda Depo Bangunan Tbk 19,373 25,472 PT Caturkarda Depo Bangunan Tbk
PT Bangun Bersama Solusindo 6,211 8,667 PT Bangun Bersama Solusindo
PT Avia Avian Industri Pipa 502 3,520 PT Avia Avian Industri Pipa
Lain-lain 2,870 2,239 Others
Jumlah 50,259 60,083 Total
Persentase terhadap jumlah
penjualan 0.62% 0.80% Percentage to total revenue
Pembelian persediaan Purchase of inventories
PT Avia Avian Industri Pipa 1,159,509 1,053,497 PT Avia Avian Industri Pipa
PT Mitra Mulia Makmur 357,189 315,826 PT Mitra Mulia Makmur
PT Wahana Lentera Raya 291,805 265,189 PT Wahana Lentera Raya
PT Kencana Lintasindo Internasional 144,252 114,947 PT Kencana Lintasindo Internasional
PT Bangun Bersama Solusindo 42,496 36,533 PT Bangun Bersama Solusindo
PT Panca Kalsiumindo Perkasa 36,283 36,718 PT Panca Kalsiumindo Perkasa
PT CMN Indonesia 1,550 2,534 PT CMN Indonesia
Lain-lain 11 123 Others
Jumlah 2,033,095 1,825,367 Total
Persentase terhadap jumlah Percentage to total cost of
beban pokok penjualan 44.73% 44.19% goods sold
Beban sewa ruang
apartement Apartment rent expense
Lain-lain 285 282 Others
Persentase terhadap jumlah Percentage to total general
beban umum dan administrasi 0.10% 0.11% and administrative expense
Pendapatan sewa gedung kantor Factory and office building
dan pabrik rental income
PT Wahana Lentera Raya 1,212 1,211 PT Wahana Lentera Raya
PT Bangun Bersama Solusindo 1,033 509 PT Bangun Bersama Solusindo
Lain-lain 2,263 2,216 Others
Jumlah 4,508 3,936 Total
Persentase terhadap jumlah Percentage to total
pendapatan lain-lain - neto 26.42% 27.91% other income - net
d. Kompensasi manajemen kunci d. Key management compensation
Gaji dan kompensasi kesejahteraan jangka pendek Salaries and other short-term compensation benefits
lainnya yang dibebankan untuk Dewan Komisaris dan expensed to the Group’s Boards of Commissioners
Direksi Grup untuk tahun yang berakhir pada tanggal and Directors for the years ended December 31, 2025
31 Desember 2025 dan 2024 masing-masing adalah and 2024 amounted to Rp 114,222 and Rp 106,949,
sebesar Rp 114.222 dan Rp 106.949. respectively.
59
Page 176
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
8. PIUTANG LAIN-LAIN 8. OTHER RECEIVABLES
2025 2024
Pihak berelasi (Catatan 7) 104,759 83,283 Related parties (Note 7)
Pihak ketiga Third parties
Piutang bunga investasi pada Interest receivables from investment
surat utang negara 34,262 37,779 in government bonds
Lain-lain 14,052 7,641 Others
Jumlah 153,073 128,703 Total
Berdasarkan penilaian manajemen atas kerugian kredit Based on management’s assessment of the expected credit
ekspektasian, manajemen Grup berkeyakinan bahwa losses, the management of the Group believes that the
kerugian kredit ekspektasian mendekati nol, sehingga expected credit losses are close to zero, as such, allowance
cadangan untuk kerugian kredit ekspektasian belum for expected credit losses has not been recognized.
diakui.
9. PERSEDIAAN 9. INVENTORIES
2025 2024
Barang jadi 1,095,072 1,051,043 Finished goods
Bahan baku 316,401 266,785 Raw materials
Barang dalam proses 68,035 41,994 Work in process
Bahan pembantu 40,680 34,790 Supplies
Barang promosi 35,930 36,584 Promotional goods
Suku cadang 17,726 8,823 Spareparts
Persediaan dalam perjalanan 129,469 132,686 Inventories in transit
Sub-jumlah 1,703,313 1,572,705 Sub-total
Cadangan persediaan usang Allowance for obsolescence
dan lambat bergerak (23,735 ) (14,502 ) and slow-moving inventories
Jumlah 1,679,578 1,558,203 Total
Mutasi cadangan persediaan usang dan lambat bergerak Movements in the allowance for obsolescence and slow-
adalah sebagai berikut: moving inventories are as follows:
2025 2024
Saldo awal 14,502 9,241 Beginning balance
Penyisihan tahun berjalan 9,233 5,261 Provision for the year
Saldo akhir 23,735 14,502 Ending balance
Berdasarkan penelaahan atas kondisi dan tingkat Based on the review of the condition and turnover of the
perputaran persediaan, manajemen Grup berkeyakinan inventory items, the Group’s management believes that the
bahwa cadangan persediaan usang dan lambat bergerak allowance for obsolescence and slow-moving inventories is
tersebut cukup untuk menutup kemungkinan kerugian dari adequate to cover any possible losses from the decrease in
penurunan nilai persediaan. the value of inventories.
Biaya persediaan yang diakui sebagai beban dalam The cost of inventories recognized as expense in “cost of
“beban pokok penjualan” dan “beban lain-lain” masing- goods sold” and “other expenses” amounted to Rp 9,233
masing sebesar Rp 9.233 dan Rp 5.261 pada 2025 dan and Rp 5,261 in 2025 and 2024, respectively.
2024.
60
Page 177
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
9. PERSEDIAAN (lanjutan) 9. INVENTORIES (continued)
Pada tanggal 31 Desember 2025 dan 2024, seluruh As of December 31, 2025 and 2024, all inventories are
persediaan dijaminkan atas fasilitas pinjaman dari pledged as collateral for the loan facilities from PT Bank
PT Bank Mandiri (Persero) Tbk dengan perjanjian fidusia Mandiri (Persero) Tbk with fiduciary agreements totalling
senilai Rp 763.198 (Catatan 18). Rp 763,198 (Note 18).
Persediaan diasuransikan terhadap risiko kerugian Inventories are covered against losses from fire or theft and
kebakaran atau pencurian dan risiko lainnya berdasarkan other risks under blanket amounting to US$ 41.7 million and
suatu paket polis dengan nilai pertanggungan sebesar Rp 2,544,303 as of December 31, 2025 and US$ 37.5
AS$ 41,7 juta dan Rp 2.544.303 pada tanggal million and Rp 2,083,097 as of December 31, 2024, which in
31 Desember 2025 dan AS$ 37,5 juta dan Rp 2.083.097 management’s opinion are adequate to cover any possible
pada tanggal 31 Desember 2024, yang menurut pendapat losses arising from such risks.
manajemen cukup untuk menutup kemungkinan kerugian
atas risiko-risiko tersebut.
10. INVESTASI JANGKA PENDEK 10. SHORT-TERM INVESTMENTS
2025 2024
Surat utang negara 2,415,606 2,931,602 Government bonds
Deposito berjangka 100,000 - Time deposit
Reksa dana 54,474 21,298 Mutual funds
Jumlah 2,570,080 2,952,900 Total
a. Investasi pada surat utang negara a. Investment in government bonds
Seluruh investasi pada surat utang negara All investment in government bonds are denominated
didenominasi dalam mata uang Rupiah. in Rupiah.
Surat Utang Negara (“SUN”) diterbitkan oleh Government bonds (“SUN”) issued by the Government
Pemerintah Republik Indonesia dengan tingkat suku of the Republic of Indonesia bear fixed interest rates
bunga tetap antara 5,13% hingga 7,00% per tahun ranging from 5.13% to 7.00% per annum and will be
dan akan jatuh tempo pada berbagai tanggal antara due on various dates from April 15, 2026 to April 15,
tanggal 15 April 2026 sampai dengan 15 April 2032. 2032. Investment in government bonds is used for the
Investasi pada SUN akan digunakan untuk keperluan Group’s working capital purpose and construction of
modal kerja Grup dan pembangunan pabrik di the factory in Cirebon, as such, the investment is
Cirebon, sehingga investasi tersebut disajikan presented as current assets in the consolidated
sebagai aset lancar pada laporan posisi keuangan statement of financial position.
konsolidasian.
Bunga atas SUN ini akan diterima setiap 6 (enam) The interest of the SUN will be received every 6 (six)
bulan sekali. Pendapatan bunga efektif yang months. Effective interest income earned for the years
diperoleh untuk tahun-tahun yang berakhir pada ended December 31, 2025 and 2024 amounted to
tanggal 31 Desember 2025 dan 2024 masing-masing Rp 146,189 and Rp 154,994, respectively (Note 29).
adalah sebesar Rp 146.189 dan Rp 154.994
(Catatan 29).
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the net unrealised
keuntungan (kerugian) nilai wajar neto yang belum gain (loss) of fair value on investment in debt
direalisasi atas investasi pada instrumen utang instruments of Rp 17,624 and (Rp 103,357),
masing-masing sebesar Rp 17.624 dan (Rp 103.357) respectively, was recognised in equity under changes
diakui dalam ekuitas sebagai perubahan nilai wajar in fair value of investment in government bonds.
atas investasi pada surat utang negara.
61
Page 178
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
10. INVESTASI JANGKA PENDEK (lanjutan) 10. SHORT-TERM INVESTMENTS (continued)
a. Investasi pada surat utang negara (lanjutan) a. Investment in government bonds (continued)
Untuk tahun yang berakhir pada tanggal For the years ended December 31, 2025 and 2024, the
31 Desember 2025 dan 2024, keuntungan neto atas net gain in fair value amounting to Rp 1,353 and nill
nilai wajar masing-masing sebesar Rp 1.353 dan respectively, has been reclassified from equity to profit
nihil telah direklasifikasi dari ekuitas ke laba rugi or loss in current year.
tahun berjalan.
Manajemen berpendapat bahwa tidak terdapat The management is of the opinion that there are no
kejadian-kejadian atau perubahan keadaan yang events or changes in circumstances that indicate a
mengindikasikan adanya bukti objektif penurunan permanent decline in the fair value of the financial
nilai wajar aset keuangan pada nilai wajar melalui assets at FVTOCI, therefore, no provision for
penghasilan komprehensif lain, sehingga, tidak impairment is necessary.
diperlukan cadangan penurunan.
b. Deposito berjangka b. Time deposit
Deposito berjangka didenominasi dalam mata uang Time deposit is denominated in Rupiah and has a term
Rupiah dengan jangka waktu enam bulan yang of six months placed with PT Pan Indonesia Tbk. The
ditempatkan pada PT Pan Indonesia Tbk. Saldo pada outstanding balance as of December 31, 2025 and
tanggal 31 Desember 2025 dan 2024 masing-masing 2024 amounted to Rp 100,000 and nill, respectively.
adalah sebesar Rp 100.000 dan nihil. Tingkat suku Annual interest rate of the time deposit as of December
bunga deposito berjangka tersebut pada 31, 2025 is 6.50%.
31 Desember 2025 adalah sebesar 6,50%.
Lihat Catatan 33 mengenai risiko kredit dari investasi Refer to Note 33 on the credit risk of the investments to
untuk memahami bagaimana Grup mengelola dan understand how the Group manages and measures the
mengukur kualitas kredit atas investasi. credit quality of investments.
11. INVESTASI JANGKA PANJANG 11. LONG-TERM INVESTMENTS
Investasi jangka panjang merupakan investasi langsung di Long-term investments represent direct investments in
saham ekuitas dengan kepemilikan kurang dari 20% dan equity shares with ownership of interests less than 20%
investasi pada surat utang jangka panjang sebagai berikut: and long-term debt investment as follows:
2025 2024
Investasi saham 290,846 - Equity shares investment
Surat utang jangka panjang 81,112 - Long-term debt investment
Jumlah 371,958 - Total
a. Investasi saham a. Equity shares investment
Pada tanggal 13 Maret 2025, Perusahaan On March 13, 2025, the Company acquired a 16.67%
mengakuisisi 16,67% kepemilikan saham pada equity interest in PT Dextone Lemindo (“PT DL”)
PT Dextone Lemindo (“PT DL”) melalui penerbitan through the subscription of newly issued shares of
saham baru PT DL, dengan nilai transaksi PT DL, with a transaction value of Rp 275,846. On
Rp 275.846. Pada tanggal 15 Oktober 2025, October 15, 2025, the Company made an additional
Perusahaan melakukan tambahan penyertaan modal capital contribution of Rp 15,000 in proportion to its
saham sebesar Rp 15.000 sesuai dengan proporsi ownership interest in PT DL, resulting in a total carrying
kepemilikannya pada PT DL, sehingga jumlah amount of the investment in PT DL of Rp 290,846.
tercatat investasi pada PT DL menjadi sebesar
Rp 290.846.
62
Page 179
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
11. INVESTASI JANGKA PANJANG (lanjutan) 11. LONG-TERM INVESTMENTS (continued)
a. Investasi saham (lanjutan) a. Equity shares investment (continued)
Investasi pada PT DL tidak tercatat di bursa efek dan The investment in PT DL is not listed on any stock
tidak mempunyai kuotasi harga di pasar aktif. Oleh exchange and does not have a quoted price in an
karena itu, investasi ini diklasifikasikan sebagai aset active market. Accordingly, the investment is classified
keuangan pada nilai wajar melalui penghasilan as a financial asset at FVTOCI. The fair value of the
komprehensif lain. Nilai wajar investasi saham investment is determined using appropriate valuation
diestimasi dengan menggunakan teknik penilaian techniques incorporating significant unobservable
yang wajar dengan input yang tidak dapat diobservasi inputs and is categorized within Level 3 of the fair value
yang dikategorikan dalam hierarki nilai wajar Level 3. hierarchy.
PT DL adalah perusahaan yang bergerak di bidang PT DL is a company engaged in the adhesive/glue
usaha industri perekat/lem. industry.
Pada tanggal 29 September 2025, Perusahaan On September 29, 2025, the Company received cash
menerima dividen tunai dari PT DL sebesar dividends from PT DL amounting to to Rp 15,350
Rp 15.350 (Catatan 31). (Note 31).
b. Investasi pada surat utang jangka panjang b. Long-term debt investment
Pada tanggal 12 Desember 2025, Perusahaan On December 12, 2025, the Company invested in
melakukan investasi pada Surat Utang Jangka Long-Term Debt Securities (Surat Utang Jangka
Panjang (“SUJP”) yang diterbitkan oleh PT Danantara Panjang / “SUJP”) issued by PT Danantara Investment
Investment Management (Persero) dengan nilai Management (Persero) with a transaction value of
transaksi sebesar Rp 100.000. SUJP tersebut Rp 100,000. The SUJP bear a fixed interest rate of 2%
dikenakan suku bunga tetap sebesar 2% per tahun, per annum, payable annually every 12 (twelve)
yang dibayarkan setiap 12 (dua belas) bulan. SUJP months. The SUJP 2025 Phase II Series A will mature
Tahun 2025 Tahap II Seri A akan jatuh tempo pada on December 13, 2030, while the SUJP 2025 Phase II
tanggal 13 Desember 2030, sedangkan SUJP Tahun Series B will mature on December 12, 2032. The
2025 Tahap II Seri B akan jatuh tempo pada tanggal investment is measured at amortized cost using the
12 Desember 2032. Investasi tersebut diukur pada effective interest method, less any impairment losses, if
biaya perolehan yang diamortisasi dengan any.
menggunakan metode suku bunga efektif, dikurangi
penurunan nilai, jika ada.
12. PROPERTI INVESTASI 12. INVESTMENT PROPERTIES
2025 2024
Tanah 272,487 272,487 Land
Bangunan 17,377 18,023 Building
Jumlah 289,864 290,510 Total
Mutasi perubahan properti investasi adalah sebagai The movements of investment properties are as follows:
berikut:
2025 2024
Saldo awal 290,510 290,113 Beginning balance
Perubahan nilai wajar (Catatan 31) (646 ) 397 Changes in fair value (Note 31)
Saldo akhir 289,864 290,510 Ending balance
63
Page 180
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
12. PROPERTI INVESTASI (lanjutan) 12. INVESTMENT PROPERTIES (continued)
Properti investasi terdiri dari bangunan yang terletak di Investment properties consist of building located at
Jl. Ahmad Yani No. 317, Dukuh Menanggal, Gayungan, Jl. Ahmad Yani No. 317, Dukuh Menanggal, Gayungan,
Surabaya, Jawa Timur, serta tanah yang terletak di Surabaya, Jawa Timur and land located in Makassar
Makassar seluas 175.798 m2 yang dimiliki sendiri oleh covering an area of 175,798 m2 that is owned by the Group.
Grup. Bangunan merupakan gedung perkantoran dalam Building represents office building under Build, Operate and
kontrak Bangun Guna Serah (“BOT”) selama 30 tahun Transfer (“BOT”) contract for 30 years that is rented to
yang disewakan kepada pihak-pihak berelasi, sedangkan related parties, while the land is empty land for which
tanah merupakan tanah kosong dimana manajemen management has not yet determined the intended use.
belum menentukan tujuan penggunaannya.
Nilai wajar properti investasi didasarkan pada penilaian The fair values of investment properties are based on
yang dilakukan oleh penilai independen, Kantor Jasa valuations performed by independent appraisers, Kantor
Penilai Publik (“KJPP”) Suhartanto Budhihardjo dan Rekan Jasa Penilai Publik (“KJPP”) Suhartanto Budhihardjo dan
melalui laporannya tanggal 29 Januari 2026 Rekan through its reports dated January 29, 2026 for
untuk 31 Desember 2025 dan 21 Januari 2025 untuk December 31, 2025 and January 21, 2025 for
31 Desember 2024 (untuk tanah) dan KJPP Iskandar dan December 31, 2024 (for land) and KJPP Iskandar dan
Rekan tanggal 30 Januari 2026 untuk tanggal Rekan dated January 30, 2026 for December 31, 2025 and
31 Desember 2025 dan 24 Januari 2025 untuk tanggal January 24, 2025 for December 31, 2024 (for building).
31 Desember 2024 (untuk bangunan).
Tidak terdapat perpindahan antar level atas pengukuran There was no inter-level transfers of fair value
nilai wajar selama tahun berjalan. measurement during the current year.
Jumlah yang diakui dalam laporan laba rugi dan Amounts recognised in the consolidated statement of profit
penghasilan komprehensif lain konsolidasian atas properti or loss and other comprehensive income for investment
investasi selama 2025 dan 2024 adalah sebagai berikut: properties during 2025 and 2024 are as follows:
2025 2024
Pendapatan sewa berasal dari Rental income derived from
properti investasi 3,220 3,219 investment properties
Biaya operasi langsung Direct operating expenses
(termasuk perbaikan dan (including repairs and
pemeliharaan) (Catatan 31) (2,847 ) (2,579) maintenance) (Note 31)
Input yang paling signifikan dalam pendekatan penilaian The most significant input in this approach is the land price
ini adalah asumsi harga tanah per meter persegi (m2) yang per square meter (m2) assumption which is based on the
didasarkan dari harga pasar tanah di sekitar lokasi, market price of land located in the vicinity, adjusted for the
disesuaikan dengan perbedaan atribut utama seperti jenis difference in main attributes such as the type and rights on
dan hak yang melekat pada properti, lokasi, karakteristik the property, location, physical characteristics, size and use
fisik, ukuran, dan penggunaan aset, sebagai berikut: of the assets, as follows:
2025 2024
Tanah Land
Harga per m2 (nilai penuh) 1,550,000 1,550,000 Price per m2 (full amount)
64
Page 181
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
12. PROPERTI INVESTASI (lanjutan) 12. INVESTMENT PROPERTIES (continued)
Pengukuran nilai wajar atas properti investasi bangunan The fair value measurement of building held in investment
menggunakan Level 3 hierarki nilai wajar. Penilaian atas properties uses Level 3 of the fair value hierarchy. The
properti investasi bangunan dengan pendekatan valuation of building held in investment properties is carried
pendapatan (metode arus kas diskontoan). Input yang out using an income approach (discounted cash flow
tidak dapat diobservasi yang digunakan dalam method). Unobservable input used in determining the fair
menentukan nilai wajar properti investasi bangunan adalah value of building held in investment properties is as follows:
sebagai berikut:
2025 2024
Bangunan Building
Tarif sewa per m2 (termasuk biaya jasa - Rental rate per m2 (including - service
nilai penuh) 2,200,000 2,230,000 charge full amount)
Tingkat diskonto 9.67% 10.02% Discount rate
Rincian properti investasi Grup yang diukur pada nilai Details of the Group’s investment properties measured at
wajar dan informasi hirarki nilai wajar adalah sebagai fair value and information about the fair value hierarchy are
berikut: as follows:
2025
Level 1 Level 2 Level 3 Total
Tanah tidak dipakai - 272,487 - 272,487 Unused land
Bangunan yang
disewakan - - 17,377 17,377 Leased-out properties
Jumlah - 272,487 17,377 289,864 Total
2024
Level 1 Level 2 Level 3 Total
Tanah tidak dipakai - 272,487 - 272,487 Unused land
Bangunan yang
disewakan - - 18,023 18,023 Leased-out properties
Jumlah - 272,487 18,023 290,510 Total
Sensitivitas dari nilai wajar properti investasi Sensitivity of fair value of building investment property on
bangunan terhadap asumsi utama adalah sebagai berikut: the principal assumptions is as follows:
Perubahan nilai wajar/Changes in fair value
Kenaikan asumsi/ Penurunan asumsi/
Perubahan asumsi/ Increase in Decrease in
Changes in assumption assumption
Asumsi assumption 2025 2024 2025 2024 Assumptions
Bangunan Building
Tarif sewa (termasuk 1% Kenaikan Kenaikan Penurunan Penurunan Rental rate (including
biaya jasa) sebesar/ sebesar/ sebesar/ sebesar/ service charge)
increase increase decrease decrease
by 1.34% by 0.94% by 0.89% by 0.94%
Tingkat diskonto 1% Penurunan Penurunan Kenaikan Kenaikan Discount rate
sebesar/ sebesar/ sebesar/ sebesar/
decrease decrease increase increase
by 0.45% by 0.82% by 0.89% by 0.83%
65
Page 182
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
13. ASET TETAP 13. FIXED ASSETS
2025
Saldo awal/ Saldo akhir/
Beginning Penambahan/ Pengurangan/ Reklasifikasi/ Revaluasi/ Ending
balance Additions Deductions Reclassifications Revaluation balance
Nilai revaluasi Revalued amount
Tanah 543,234 6,709 - - 11,349 561,292 Land
Harga perolehan Cost
Bangunan dan Buildings and
prasarana 412,523 308 (89) 6,025 - 418,767 improvements
Mesin dan Machinery and
peralatan 869,408 5,441 (5,913) 71,425 - 940,361 equipment
Instalasi listrik 98,493 328 (209) 1,789 - 100,401 Electricity installations
Kendaraan 356,895 49,861 (27,057) - - 379,699 Vehicles
Peralatan kantor 253,778 44,209 (875) - - 297,112 Office equipment
Sub-jumlah 2,534,331 106,856 (34,143) 79,239 11,349 2,697,632 Sub-total
Aset tetap dalam Assets under
pembangunan 354,561 376,916 - (79,239) - 652,238 construction
Sub-jumlah 2,888,892 483,772 (34,143) - 11,349 3,349,870 Sub-total
Akumulasi Accumulated
penyusutan depreciation
Bangunan dan Buildings and
prasarana 107,762 13,636 (24) - - 121,374 improvements
Mesin dan Machinery and
peralatan 480,051 67,167 (4,312) - - 542,906 equipment
Instalasi listrik 52,209 8,590 (209) - - 60,590 Electricity installations
Kendaraan 158,534 45,396 (23,383) - - 180,547 Vehicles
Peralatan kantor 160,039 29,934 (817) - - 189,156 Office equipment
Sub-jumlah 958,595 164,723 (28,745) - - 1,094,573 Sub-total
Jumlah tercatat neto 1,930,297 2,255,297 Net carrying amount
2024
Saldo awal/ Saldo akhir/
Beginning Penambahan/ Pengurangan/ Reklasifikasi/ Revaluasi/ Ending
balance Additions Deductions Reclassifications Revaluation balance
Nilai revaluasi Revalued amount
Tanah 543,234 - - - - 543,234 Land
Harga perolehan Cost
Bangunan dan Buildings and
prasarana 399,917 2,586 (57) 10,077 - 412,523 improvements
Mesin dan Machinery and
peralatan 814,580 8,448 (2,015) 48,395 - 869,408 equipment
Instalasi listrik 97,733 420 - 340 - 98,493 Electricity installations
Kendaraan 325,524 62,388 (31,017) - - 356,895 Vehicles
Peralatan kantor 215,545 39,684 (1,451) - - 253,778 Office equipment
Sub-jumlah 2,396,533 113,526 (34,540) 58,812 - 2,534,331 Sub-total
Aset tetap dalam Assets under
pembangunan 93,712 319,661 - (58,812) - 354,561 construction
Sub-jumlah 2,490,245 433,187 (34,540) - - 2,888,892 Sub-total
Akumulasi Accumulated
penyusutan depreciation
Bangunan dan Buildings and
prasarana 94,564 13,223 (25) - - 107,762 improvements
Mesin dan Machinery and
peralatan 420,239 61,123 (1,311) - - 480,051 equipment
Instalasi listrik 43,841 8,368 - - - 52,209 Electricity installations
Kendaraan 139,834 41,474 (22,774) - - 158,534 Vehicles
Peralatan kantor 132,604 28,046 (611) - - 160,039 Office equipment
Sub-jumlah 831,082 152,234 (24,721) - - 958,595 Sub-total
Jumlah tercatat neto 1,659,163 1,930,297 Net carrying amount
66
Page 183
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
13. ASET TETAP (lanjutan) 13. FIXED ASSETS (continued)
Beban penyusutan dibebankan sebagai berikut: The depreciation expenses were charged to the following:
2025 2024
Beban pabrikasi (Catatan 27) 38,169 34,775 Factory overhead (Note 27)
Beban penjualan (Catatan 28) 81,240 74,485 Selling expenses (Note 28)
Beban umum dan administrasi General and administrative expenses
(Catatan 28) 45,199 42,974 (Note 28)
Beban lain-lain 115 - Other expenses
Jumlah 164,723 152,234 Total
Nilai perolehan dari setiap aset tetap yang telah The costs of fixed assets that have been fully depreciated
disusutkan penuh namun masih digunakan pada but still being utilised as of December 31, 2025 and 2024
31 Desember 2025 dan 2024 masing-masing sebesar amounted to Rp 172,900 and Rp 119,872, respectively,
Rp 172.900 dan Rp 119.872, terdiri atas mesin dan consisting of machinery and equipment, electricity
peralatan, instalasi listrik dan peralatan kantor. installations and office equipment.
Rincian pelepasan aset tetap adalah sebagai berikut: The details of disposal of fixed assets are as follows:
2025 2024
Penerimaan dari pelepasan aset tetap 9,710 11,156 Proceeds from disposal of fixed assets
Net carrying amount
Nilai tercatat aset tetap yang dijual (5,398 ) (9,819) of disposed fixed assets
Keuntungan pelepasan Gain on disposal of
aset tetap (Catatan 31) 4,312 1,337 fixed assets (Note 31)
Aset tetap dalam pembangunan merupakan proyek yang Fixed assets under construction represents projects that
masih belum selesai pada tanggal laporan keuangan have not been completed at the date of the consolidated
konsolidasian dengan rincian sebagai berikut: financial statements with the details as follows:
Perkiraan % penyelesaian/
Estimated % of completion
2025 2024
Bangunan dan prasarana 5% - 95% 20% - 80% Buildings and improvements
Mesin dan peralatan 10% - 95% 70% - 95% Machinery and equipment
Instalasi listrik 5% - 95% 90% - 95% Electricity installations
Aset tetap dalam pembangunan diperkirakan akan selesai The estimated completion date of the assets under
pada tahun 2026-2027. construction will be in 2026-2027.
Tidak ada perbedaan yang material antara nilai wajar dan There is no material difference between the fair value and
nilai tercatat dari aset tetap Grup selain tanah. carrying value of the Group’s fixed assets other than land.
Jika tanah milik Grup diukur berdasarkan biaya historis, Had the Group’s land been measured on historical cost
jumlah tercatatnya akan menjadi Rp 310.343 dan basis, their carrying amount would have been Rp 310,343
Rp 303.634 masing-masing pada tanggal 31 Desember and Rp 303,634 as of December 31, 2025 and 2024,
2025 dan 2024. respectively.
67
Page 184
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
13. ASET TETAP (lanjutan) 13. FIXED ASSETS (continued)
Grup memiliki beberapa bidang tanah dengan rincian The Group has land properties with the details as follows:
sebagai berikut:
Lokasi/Location Luasan/Area Penggunaan lahan/Land utilization
2
Sidoarjo 105,121 m Pabrik/Factory
Serang 36,880 m2 Pabrik/Factory
Medan 22,652 m2 Pabrik/Factory
Cirebon 110,211 m2 Pabrik/Factory
Bekasi 2,992 m2 Pabrik/Factory
Hak atas tanah Grup berupa Sertifikat Hak Guna The Group’s land represents land-use rights (“SHGB”) that
Bangunan (“SHGB”) yang memiliki masa berlaku antara will expire between 2026 until 2049. Management believes
tahun 2026 hingga 2049. Manajemen berpendapat bahwa that the SHGB can be extended.
SHGB tersebut dapat diperpanjang.
Tanah diukur dengan metode revaluasian. Pengukuran Land is measured using the revaluation model. The latest
nilai wajar terakhir tahun 2025 dilakukan oleh KJPP fair value measurement for the year 2025 was carried out
Suhartanto Budhihardjo dan Rekan, selaku penilai by KJPP Suhartanto Budhihardjo dan Rekan, an
independen, dalam laporannya tanggal 5 Agustus 2025, independent appraiser, in its reports dated
3 September 2025, dan 29 Januari 2026. August 5, 2025, September 3, 2025 and January 29, 2026.
Pengukuran nilai wajar atas tanah menggunakan Level 2 The fair value measurement of land uses Level 2 of the fair
hierarki nilai wajar. Penilaian atas tanah dilakukan dengan value hierarchy. The valuation of the land is carried out
pendekatan pasar. Input yang paling signifikan dalam using the market approach. The most significant input in
pendekatan penilaian ini adalah asumsi harga tanah per this approach is the land price per square metre (m 2)
meter persegi (m2) yang didasarkan dari harga pasar assumption which is based on the market price of land
tanah di sekitar lokasi, disesuaikan dengan perbedaan located in the vicinity, adjusted for the difference in main
atribut utama seperti jenis dan hak yang melekat pada attributes such as the type and rights on the property,
properti, lokasi, karakteristik fisik, ukuran, dan penggunaan location, physical characteristics, size and use of the
aset. Asumsi harga tanah per m2 yang digunakan pada assets. The assumed land price per m2 used in 2025
tahun 2025 adalah berkisar antara Rp 1.270.000 - ranges from Rp 1,270,000 - Rp 4,000,000 (full amount) per
Rp 4.000.000 (nilai penuh) per m2. m2.
Pada tanggal 31 Desember 2025 dan 2024, aset tetap As of December 31, 2025 and 2024, certain fixed assets are
tertentu dijaminkan atas fasilitas pinjaman dari pledged as collateral for the loan facilities from
PT Bank Mandiri (Persero) Tbk dan PT Bank OCBC NISP PT Bank Mandiri (Persero) Tbk and PT Bank OCBC NISP
Tbk dengan perjanjian fidusia dan perjanjian Hak Tbk with fiduciary and mortgage agreements over certain
Tanggungan terhadap aset tetap tertentu senilai fixed assets amounting to Rp 967,990 (Note 18).
Rp 967.990 (Catatan 18).
Aset tetap, kecuali tanah, diasuransikan terhadap risiko Fixed assets, except for land, are covered against losses
kerugian kebakaran dan risiko lain berdasarkan suatu from fire and other risks under blanket policies amounting to
paket polis dengan nilai pertanggungan sebesar AS$ 58,7 US$ 58.7 million and Rp 910,717 as of December 31, 2025
juta dan Rp 910.717 pada tanggal 31 Desember 2025 dan and US$ 50.1 million and Rp 878,674 as of
AS$ 50,1 juta dan Rp 878.674 pada tanggal December 31, 2024. Management is of the opinion that the
31 Desember 2024. Manajemen berpendapat bahwa nilai sum insured is adequate to cover any possible losses
pertanggungan tersebut cukup untuk menutup arising from such risks.
kemungkinan kerugian atas risiko-risiko tersebut.
Berdasarkan evaluasi yang dilakukan manajemen, tidak Based on management’s evaluation, there were no events
terdapat kejadian atau perubahan atas keadaan yang or changes in circumstances which might indicate an
menunjukkan adanya penurunan nilai aset tetap pada impairment in the value of fixed assets as of
tanggal 31 Desember 2025 dan 2024. December 31, 2025 and 2024.
Pada tanggal 31 Desember 2025 dan 2024 tidak ada aset As of December 31, 2025 and 2024 there were no idle fixed
tetap yang tidak digunakan. assets.
68
Page 185
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
14. INVESTASI PADA VENTURA BERSAMA 14. INVESTMENT IN JOINT VENTURE
2025 2024
Saldo awal 19,976 17,298 Beginning balance
Bagian atas laba
ventura bersama 582 2,678 Share in profit of a joint venture
Saldo akhir 20,558 19,976 Ending balance
Pada tanggal 31 Desember 2025 dan 2024, ventura As of December 31, 2025 and 2024, the joint venture of the
bersama yang dimiliki oleh Grup adalah sebagai berikut: Group is follows:
Nama entitas/ Domisili/ Persentase kepemilikan/ Kegiatan usaha/
Entity name Domicile Percentage of ownership Business activity
PT Bangun Bersama Industri semen, mortar dan beton/
Solusindo Indonesia 50% Industry of cement, mortar and concrete
Berikut ini adalah ringkasan informasi keuangan Set out below are the summarized financial information of
PT Bangun Bersama Solusindo pada 31 Desember 2025 PT Bangun Bersama Solusindo as of December 31, 2025
dan 2024 yang dicatat dengan menggunakan metode and 2024 which is accounted for using the equity method:
ekuitas:
2025 2024
Aset lancar 49,278 52,842 Current assets
Aset tidak lancar 1,837 694 Non-current assets
Liabilitas jangka pendek 9,032 13,002 Current liabilities
Liabilitas jangka panjang 967 583 Non-current liabilities
Penjualan 47,316 40,757 Revenue
Laba tahun berjalan 1,163 5,356 Profit for the year
Jumlah laba komprehensif tahun Total comprehensive profit
berjalan 1,163 5,356 for the year
Arus kas yang diperoleh dari Cash flows provided by
dari aktivitas operasi 1,713 1,672 operating activities
Arus kas yang digunakan untuk Cash flows used in
aktivitas investasi (77 ) (16) investing activities
Rekonsiliasi atas ringkasan informasi keuangan yang The reconciliation of the summarised financial information
disajikan terhadap nilai buku dari kepentingan Grup dalam presented to the carrying amount of the Group’s interests in
ventura bersama adalah sebagai berikut: the joint venture is as follows:
2025 2024
Pada awal tahun 39,953 34,597 At the beginning of the year
Jumlah penghasilan Total comprehensive income
komprehensif tahun berjalan 1,163 5,356 for the year
Pada akhir tahun 41,116 39,953 At the end of the year
Persentase kepemilikan 50% 50% Percentage of ownership
Nilai tercatat 20,558 19,976 Carrying amount
Pada tanggal 31 Desember 2025 dan 2024, manajemen As of December 31, 2025 and 2024, management believes
berkeyakinan bahwa tidak terdapat indikasi penurunan that there are no impairment indicators on the carrying
nilai atas nilai tercatat investasi pada ventura bersama. amounts of investment in joint venture.
69
Page 186
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
15. UTANG USAHA 15. TRADE PAYABLES
2025 2024
Pihak berelasi - Rupiah (Catatan 7) 355,641 362,941 Related parties - Rupiah (Note 7)
Pihak ketiga: Third parties:
Rupiah 306,762 269,565 Rupiah
Dolar AS 76,887 79,732 US Dollar
CNY 34,998 63,499 CNY
SGD 7,322 4,456 SGD
Euro 2,597 7,307 Euro
GBP - 201 GBP
Sub-jumlah 428,566 424,760 Sub-total
Jumlah 784,207 787,701 Total
Utang usaha yang merupakan bagian dari pengaturan Trade payables of which amounts that are part of supplier
pembiayaan pemasok sebesar nihil dan Rp 75.906 finance arrangements as of December 31, 2025 and 2024
masing-masing pada tanggal 31 Desember 2025 dan 2024 amounted to nill and Rp 75,906, respectively (Note 34).
(Catatan 34).
Jangka waktu kredit dari pembelian bahan baku utama Purchases of raw and indirect materials, have credit terms
dan pembantu, berkisar 30 sampai dengan 60 hari (tidak of 30 to 60 days (excluding supplier finance arrangements)
termasuk pengaturan keuangan pemasok) dan 45 hingga and 45 to 60 days (including supplier finance
60 hari (termasuk pengaturan keuangan pemasok). arrangements).
16. BEBAN AKRUAL 16. ACCRUED EXPENSES
2025 2024
Pemasaran dan promosi 212,981 187,362 Marketing and promotion
Komisi penjualan 38,373 28,659 Sales commission
Ongkos angkut 36,159 31,184 Freight
Lain-lain 5,887 5,456 Others
Jumlah 293,400 252,661 Total
17. SEWA 17. LEASES
Grup sebagai Penyewa The Group as Lessee
Grup memiliki kontrak sewa bangunan yang digunakan The Group has lease contracts for buildings used in its
dalam operasinya. Grup dibatasi untuk menyewakan operation. The Group is restricted from assigning and
kembali aset sewaan. Kontrak sewa ini merupakan sewa subleasing the leased assets. These lease contracts
bangunan oleh PT TKTW dan PT TKBI, entitas anak, dari represent leases for buildings by PT TKTW and PT TKBI,
PT Sarana Depo Kencana, pihak berelasi (Catatan 7), dan subsidiaries, from PT Sarana Depo Kencana, a related
dari pihak ketiga, yang digunakan sebagai kantor cabang. party (Note 7), and from third parties, which are used as
branch offices.
Grup juga memiliki sewa peralatan kantor dengan nilai The Group also has certain leases of office equipment with
yang rendah. Grup menerapkan pengecualian pengakuan low value. The Group applies the ‘lease of low-value assets’
‘sewa aset bernilai rendah’ untuk sewa tersebut. recognition exemptions for these leases.
70
Page 187
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
17. SEWA (lanjutan) 17. LEASES (continued)
Grup sebagai Penyewa (lanjutan) The Group as Lessee (continued)
Di bawah ini adalah jumlah tercatat dari aset hak-guna Below are the carrying amounts of right-of-use assets
yang diakui pada laporan posisi keuangan konsolidasian recognised on the Group’s consolidated statement of
Grup dan mutasinya: financial position and its movements:
2025
Saldo awal/ Saldo akhir/
Beginning Penambahan/ Pengurangan/ Ending
balance Additions Deduction balance
Harga perolehan Acquisition cost
Bangunan 229,336 104,311 (721 ) 332,926 Buildings
Akumulasi penyusutan Accumulated depreciation
Bangunan 48,387 99,630 (721 ) 147,296 Buildings
Nilai tercatat neto 180,949 185,630 Net carrying amount
2024
Saldo awal/ Saldo akhir/
Beginning Penambahan/ Pengurangan/ Ending
balance Additions Deduction balance
Harga perolehan Acquisition cost
Bangunan 235,090 121,861 (127,615 ) 229,336 Buildings
Akumulasi penyusutan Accumulated depreciation
Bangunan 84,539 91,463 (127,615 ) 48,387 Buildings
Nilai tercatat neto 150,551 180,949 Net carrying amount
Jumlah yang diakui dalam laporan laba rugi dan Amounts recognised in the consolidated statement of profit
penghasilan komprehensif lain konsolidasian adalah or loss and other comprehensive income are as follows:
sebagai berikut:
2025 2024
Beban penyusutan aset hak-guna - Depreciation of right-of-use assets -
beban penjualan (Catatan 28) 98,660 90,604 selling expenses (Note 28)
Beban penyusutan aset hak-guna - Depreciation of right-of-use assets -
beban administrasi dan umum general and administrative expenses
(Catatan 28) 970 859 (Note 28)
Beban bunga atas liabilitas sewa Interest expense on lease liabilities
(Catatan 30) 1,843 2,011 (Note 30)
Sewa aset bernilai rendah dan Low value assets and
sewa jangka pendek 754 691 short-term lease
Jumlah 102,227 94,165 Total
71
Page 188
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
17. SEWA (lanjutan) 17. LEASES (continued)
Grup sebagai Penyewa (lanjutan) The Group as Lessee (continued)
Di bawah ini adalah jumlah tercatat dari liabilitas sewa Below are the carrying amounts of lease liabilities
yang diakui pada laporan posisi keuangan konsolidasian recognised on the Group’s consolidated statement of
Grup: financial position:
2025 2024
Saldo awal 84,193 26,690 Beginning balance
Penambahan 64,918 82,261 Additions
Pembayaran (70,090 ) (24,758 ) Payments
Saldo akhir 79,021 84,193 Ending balance
Dikurangi: Bagian lancar (64,399 ) (64,777 ) Less: Current portion
Bagian tidak lancar 14,622 19,416 Non-current portion
Pembayaran sewa operasi minimum di masa mendatang, Future minimum lease payments under operating leases
serta nilai kini atas pembayaran minimum sewa operasi together with the present value of the minimum lease
pada tanggal 31 Desember 2025 dan 2024 adalah sebagai payments as of December 31, 2025 and 2024 are as
berikut: follows:
2025 2024
Liabilitas sewa bruto - pembayaran Lease liabilities - future
sewa dimasa mendatang lease payments
Tidak lebih dari 1 tahun 65,648 66,112 Less than 1 year
1-5 tahun 9,695 14,767 1-5 years
Lebih dari 5 tahun 17,572 18,604 More than 5 years
Jumlah 92,915 99,483 Total
Beban keuangan dimasa depan atas Future finance charges
liabilitas sewa (13,894 ) (15,290 ) of lease liabilities
Nilai kini liabilitas sewa 79,021 84,193 Present value of lease liabilities
2025 2024
Nilai kini liabilitas sewa adalah Present value of lease liabilities
sebagai berikut: is as follows:
Tidak lebih dari 1 tahun 64,399 64,777 Less than 1 year
1-5 tahun 5,528 10,216 1-5 years
Lebih dari 5 tahun 9,094 9,200 More than 5 years
Jumlah 79,021 84,193 Total
Tidak ada pembatasan signifikan yang ditetapkan oleh There is no significant restriction imposed by lease
lessor dalam perjanjian sewa pembiayaan dengan Grup arrangements between the lessor and the Group on the use
terkait dengan penggunaan aset atau pencapaian kinerja of the assets or maintenance of certain financial
keuangan tertentu. performance.
Jumlah pengeluaran kas untuk sewa (termasuk sewa The total cash outflow for leases (including short-term
jangka pendek dan sewa aset bernilai rendah) masing- leases and leases of low value assets) amounted to
masing sebesar Rp 70.844 dan Rp 25.449 untuk tahun Rp 70,844 and Rp 25,449 for the year ended
yang berakhir pada tanggal 31 Desember 2025 dan 2024. December 31, 2025 and 2024, respectively. The Group also
Grup juga memiliki penambahan non-kas pada aset hak- had non-cash additions to right-of-use assets and lease
guna dan liabilitas sewa masing-masing sebesar liabilities amounted to Rp 64,918 and Rp 82,261 for the
Rp 64.918 dan Rp 82.261 untuk tahun yang berakhir pada years ended December 31, 2025 and 2024, respectively.
tanggal 31 Desember 2025 dan 2024.
72
Page 189
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
17. SEWA (lanjutan) 17. LEASES (continued)
Grup sebagai Pesewa The Group as Lessor
Grup telah menandatangani sewa properti komersial atas The Group has entered into commercial property leases on
portofolio properti investasi yang terdiri dari tanah dan its investment property portfolio consisting of certain land
bangunan perkantoran (Catatan 12). Grup and office buildings (Note 12). The Group retains
mempertahankan secara substansial semua risiko dan substantially all the risks and rewards incidental to
manfaat yang terkait dengan kepemilikan properti tersebut ownership of these properties and accounts for the
dan kontrak sebagai sewa operasi. Sewa ini memiliki masa contracts as operating leases. These leases have terms of
sewa 30 tahun. Semua sewa termasuk klausul 30 years. All leases include a clause to enable upward
memungkinkan revisi atas kenaikan biaya sewa tahunan revision of the rental charge on an annual basis according
berdasarkan kondisi pasar yang berlaku. Penghasilan to prevailing market conditions. Rental income recognized
sewa yang diakui Grup untuk tahun-tahun yang berakhir by the Group for the years ended December 31, 2025 and
pada tanggal 31 Desember 2025 dan 2024 masing-masing 2024 amounted to Rp 3,220 and Rp 3,219, respectively
adalah Rp 3.220 dan Rp 3.219 (Catatan 12). (Note 12).
18. PINJAMAN BANK JANGKA PENDEK 18. SHORT-TERM BANK LOANS
2025 2024
PT Bank OCBC NISP Tbk 7,187 9,189 PT Bank OCBC NISP Tbk
Jumlah 7,187 9,189 Total
Grup memiliki beberapa fasilitas pinjaman sebagai berikut: The Group has several loan facilities as follows:
Pemberi Tanggal jatuh Tingkat suku
Nama entitas/ pinjaman/ Jenis fasilitas/ Mata uang/ Jumlah fasilitas/ tempo/ bunga/ Jaminan/
Entity name Lender Facility type Currency Total facility Maturity date Interest rate Collateral
PT Avia Avian PT Bank Mandiri Kredit Modal Kerja/ Rupiah Rp940,000 27 Agustus/ 4.25% Piutang usaha, persediaan,
Tbk (Persero) Tbk Working Capital Loan August 2026 dan aset tetap/
Trade receivables, inventories
and fixed assets
Letter of Credit (“L/C”) Dolar AS/ AS$/US$1,500,000
Impor atau SKBDN/ US Dollar
Import L/C or SKBDN
Treasury Line Dolar AS/ AS$/US$10,000,000
US Dollar
Bank Garansi/ Rupiah Rp2,000
Bank Guarantee
PT TKTW PT Bank Mandiri Kredit Modal Kerja/ Rupiah Rp550,000 27 Agustus/ 4.25% Piutang usaha, persediaan,
(Persero) Tbk Working Capital Loan August 2026 dan tanah milik
PT Sarana Depo
Kencana/
Trade receivables, inventories,
and PT Sarana Depo
Kencana’s land
PT MPI PT Bank OCBC Fasilitas cerukan/ Rupiah Rp10,000 10 Maret/ 8.25% Tanah dan bangunan/
NISP Tbk Overdraft facility March 2026 Land and building
Pada tanggal 31 Desember 2025 dan 2024, Grup memiliki As of December 31, 2025 and 2024, the Group has not
fasilitas pinjaman dari PT Bank Mandiri (Persero) Tbk yang drawn from the facilities obtained from PT Bank Mandiri
belum digunakan. (Persero) Tbk.
Dana yang diperoleh dari pinjaman bank digunakan untuk The funds received from the bank loans are used for
modal kerja. Bank garansi dari PT Bank Mandiri (Persero) working capital. Bank guarantee from PT Bank Mandiri
Tbk digunakan untuk jaminan pembayaran pembelian gas (Persero) Tbk is used for payment guarantee for gas
dari PT Perusahaan Gas Negara (Persero). procurement from PT Perusahaan Gas Negara (Persero).
73
Page 190
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
18. PINJAMAN BANK JANGKA PENDEK (lanjutan) 18. SHORT-TERM BANK LOANS (continued)
Berdasarkan perjanjian pinjaman, debitur diharuskan Under the loan agreements, the borrowers are required to
untuk memenuhi persyaratan tertentu, seperti persyaratan fulfill certain covenants, such as financial covenants and
rasio keuangan dan persyaratan administrasi. Pada administrative requirements. As of December 31, 2025 and
tanggal 31 Desember 2025 dan 2024, Grup telah 2024, the Group has complied with these covenants. For
memenuhi persyaratan tersebut. Untuk rasio keuangan certain financial covenant ratios that were not met, the
tertentu yang tidak memenuhi persyaratan, Grup telah Group has obtained waiver letter from PT Bank OCBC
memperoleh surat persetujuan pengesampingan dari NISP Tbk.
PT Bank OCBC NISP Tbk.
19. LIABILITAS IMBALAN KERJA 19. EMPLOYEE BENEFITS LIABILITY
2025 2024
Imbalan kerja jangka pendek 108,381 103,376 Short-term employee benefits
Imbalan pascakerja 78,830 63,336 Post-employment benefits
Jumlah 187,211 166,712 Total
Dikurangi : Liabilitas jangka pendek (115,086 ) (108,618 ) Less : Current liabilities
Liabilitas jangka panjang 72,125 58,094 Non-current liabilities
a. Imbalan kerja jangka pendek a. Short-term employee benefits
Imbalan kerja jangka pendek terdiri atas akrual atas Short-term employee benefits comprise accruals for
gaji, tunjangan hari raya, dan bonus yang akan salary, religious allowance and bonus which will be paid
dibayarkan pada tahun 2025 dan 2026. in 2025 and 2026.
b. Liabilitas imbalan pascakerja b. Post-employment benefits liability
Grup mengakui liabilitas imbalan kerja karyawan yang The Group recognised an unfunded employee benefits
tidak didanai berdasarkan peraturan yang berlaku. liability in accordance with the applicable regulation. The
Liabilitas imbalan pascakerja dihitung menggunakan post-employment benefits liability is calculated using the
metode Projected Credit Unit. Projected Credit Unit method.
Liabilitas imbalan pascakerja dihitung oleh aktuaris The post-employment benefits liability is calculated by
independen, Kantor Konsultan Aktuaria Riana dan the independent actuary, Kantor Konsultan Aktuaria
Rekan, dalam laporannya tanggal 30 Januari 2026 Riana dan Rekan, in its reports dated January 30, 2026
untuk 31 Desember 2025 dan 24 Januari 2025 dan for December 31, 2025 and dated January 24, 2025 and
31 Januari 2025 untuk 31 Desember 2024. January 31, 2025 for December 31, 2024.
Jumlah yang diakui pada laba rugi adalah sebagai The amount recognised in profit or loss is as follows:
berikut:
2025 2024
Biaya jasa kini 13,524 7,776 Current service cost
Biaya bunga 4,376 3,662 Interest cost
Biaya jasa lalu (2,328 ) (2,183) Past service cost
Jumlah beban imbalan kerja 15,572 9,255 Total employee benefits expense
74
Page 191
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
19. LIABILITAS IMBALAN KERJA (lanjutan) 19. EMPLOYEE BENEFITS LIABILITY (continued)
b. Liabilitas imbalan pascakerja (lanjutan) b. Post-employment benefits liability (continued)
Mutasi nilai kini liabilitas imbalan pascakerja adalah Movements in the present value of post-employment
sebagai berikut: benefits liability are as follows:
2025 2024
Saldo awal 63,336 59,521 Beginning balance
Beban imbalan kerja 15,572 9,255 Employee benefits expense
Pembayaran manfaat (3,462 ) (5,484 ) Benefits paid
Kerugian aktuaria neto Net actuarial loss
dibebankan ke penghasilan charged to other
komprehensif lain 3,384 44 comprehensive income
Saldo akhir 78,830 63,336 Ending balance
Dikurangi : bagian jangka
pendek (6,705 ) (5,242 ) Less : current portion
Bagian jangka panjang 72,125 58,094 Non-current portion
Asumsi-asumsi dasar yang digunakan untuk The principal assumptions used in determining the post-
menentukan liabilitas imbalan pascakerja adalah employment benefits liability are as follows:
sebagai berikut:
Usia pensiun : Sesuai tingkatan pada tahun 2025 dan 2024 : Retirement age
Based on level in 2025 and 2024
Tingkat kenaikan gaji : 5% - 7% pada 2025 dan 1% - 7% pada 2024 : Annual rate of increase in salary
tahunan 5% - 7% % in 2025 and 1% - 7% % in 2024
Tingkat diskonto : 6,25% - 6,75% pada 2025 dan 7,00% - 7,25% pada 2024 : Discount rate
6.25% - 6.75% % in 2025 and 7.00% - 7.25% % in 2024
Tingkat kematian : TMI-IV-2019 : Mortality rate
Tingkat kecacatan : 5% dari tingkat kematian/5% of mortality rate : Disability rate
Grup terekspos dengan beberapa risiko melalui The Group is exposed to a number of risks through its
program imbalan pasti. Risiko yang paling signifikan defined benefit pension plans. The most significant risks
adalah sebagai berikut: are as follows:
Perubahan tingkat diskonto Changes in discount rate
Penurunan tingkat diskonto akan meningkatkan A decrease in the discount rate will increase plan
liabilitas program. liabilities.
Tingkat kenaikan gaji Salary growth rate
Liabilitas imbalan pensiun Grup berhubungan dengan The Group’s pension obligations are linked to the salary
tingkat kenaikan gaji, dan semakin tinggi tingkat growth rate, and a higher salary growth rate will lead to
kenaikan gaji akan menyebabkan semakin besarnya higher liabilities.
liabilitas.
75
Page 192
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
19. LIABILITAS IMBALAN KERJA (lanjutan) 19. EMPLOYEE BENEFITS LIABILITY (continued)
b. Liabilitas imbalan pascakerja (lanjutan) b. Post-employment benefits liability (continued)
Analisis sensitivitas terhadap asumsi utama yang The sensitivity analysis to the key assumptions used in
digunakan dalam menentukan liabilitas imbalan determining post-employment benefits liability is as
pascakerja adalah sebagai berikut: follows:
Tingkat diskonto/ (Penurunan)/kenaikan/
Discount rate (Decrease)/increase
31 Desember 2025 1%/(1%) (Rp6,667)/ Rp7,568 December 31, 2025
31 Desember 2024 1%/(1%) (Rp5,087)/ Rp6,840 December 31, 2024
Tingkat gaji/ Kenaikan/(penurunan)/
Salary rate Increase/(decrease)
31 Desember 2025 1%/(1%) Rp8,137/ (Rp7,259) December 31, 2025
31 Desember 2024 1%/(1%) Rp7,331/ (Rp5,595) December 31, 2024
Analisis sensitivitas di atas ditentukan berdasarkan The sensitivity analyses above have been determined
perubahan wajar yang mungkin terjadi pada masing- based on reasonably possible changes of the respective
masing asumsi yang terjadi pada akhir periode assumptions occurring at the end of the reporting
pelaporan, dengan asumsi lainnya konstan. period, while holding all other assumptions constant.
Analisis sensitivitas yang disajikan di atas mungkin The sensitivity analysis presented above may not be
tidak mewakili perubahan yang sebenarnya dalam representative of the actual change in the defined
kewajiban imbalan pasti mengingat bahwa perubahan benefit obligation as it is unlikely that the change in
asumsi terjadinya tidak terisolasi satu sama lain assumptions would occur in isolation of one another as
karena beberapa asumsi tersebut mungkin berkorelasi. some of the assumptions may be correlated.
Metode dan asumsi yang digunakan dalam The methods and assumptions used in preparing the
menyiapkan analisis sensitivitas tidak berubah dari sensitivity analysis did not change compared to the
periode sebelumnya. previous period.
Durasi rata-rata tertimbang dari liabilitas imbalan kerja The weighted average duration of the benefit obligation
di akhir periode pelaporan berkisar antara 13,82 tahun at the end of the reporting period is within a range of
sampai 19,05 tahun pada tahun 2025 dan 14,91 tahun 13.82 years to 19.05 years in 2025 and 14.91 years to
sampai 18,67 tahun pada tahun 2024. 18.67 years in 2024.
Jadwal jatuh tempo dari liabilitas imbalan pascakerja The maturity profile of undiscounted post-employment
tanpa diskonto adalah sebagai berikut: benefit liabilities is as follows:
2025 2024
Kurang dari 1 tahun 6,705 5,242 Within one year
1 - 5 tahun 10,404 10,818 1 - 5 years
Lebih dari 5 tahun 615,323 586,252 More than 5 years
Jumlah 632,432 602,312 Total
Manajemen berkeyakinan bahwa saldo liabilitas Management believes that the balance of post-
imbalan pascakerja tersebut cukup untuk memenuhi employment benefits liability is sufficient to cover the
imbalan minimum sesuai dengan peraturan yang minimum benefits required under the prevailing
berlaku. regulations.
76
Page 193
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
20. PERPAJAKAN 20. TAXATION
a. Pajak dibayar dimuka a. Prepaid taxes
2025 2024
Perusahaan The Company
Pajak Pertambahan Nilai (PPN)
masukan 7,261 12,152 Value Added Tax (VAT) in
Pajak penghasilan pasal 21 12 148 Income tax article 21
Pajak penghasilan pasal 23 - 873 Income tax article 23
Deposit pajak 52,370 - Tax deposit
Sub-jumlah 59,643 13,173 Sub-total
Entitas Anak Subsidiaries
Pajak Pertambahan Nilai (PPN)
masukan 249 5,164 Value Added Tax (VAT) in
Pajak penghasilan pasal 21 15 928 Income tax article 21
Pajak penghasilan pasal 4(2) 487 483 Income tax article 4(2)
Deposit pajak 35,014 - Tax deposit
Sub-jumlah 35,765 6,575 Sub-total
Jumlah 95,408 19,748 Total
b. Utang pajak b. Taxes payable
2025 2024
Perusahaan The Company
Pajak Penghasilan: Income Taxes:
Pasal 29 95,652 44,314 Article 29
Pasal 23 489 740 Article 23
Pasal 4(2) 236 325 Article 4(2)
Sub-jumlah 96,377 45,379 Sub-total
Entitas Anak Subsidiaries
Pajak Penghasilan: Income Taxes:
Pasal 25 2,181 1,715 Article 25
Pasal 29 953 13,749 Article 29
Pasal 4(2) 419 714 Article 4(2)
Pasal 15 1 1 Article 15
Pasal 21 7,990 8,889 Article 21
Pasal 23 920 1,669 Article 23
Pajak Pertambahan Nilai (PPN)
keluaran 22,044 7 Value Added Tax (VAT) out
Sub-jumlah 34,508 26,744 Sub-total
Jumlah 130,885 72,123 Total
77
Page 194
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
20. PERPAJAKAN (lanjutan) 20. TAXATION (continued)
c. Beban pajak penghasilan c. Income tax expense
2025 2024
Perusahaan The Company
Kini 342,258 301,662 Current
Tangguhan (12,733 ) 10,499 Deferred
Sub-jumlah 329,525 312,161 Sub-total
Entitas Anak Subsidiaries
Kini 111,872 95,489 Current
Tangguhan (9,601 ) (2,755 ) Deferred
Sub-jumlah 102,271 92,734 Sub-total
Jumlah beban pajak penghasilan 431,796 404,895 Total income tax expense
Rekonsiliasi antara laba sebelum beban pajak Reconciliation between consolidated profit before
penghasilan konsolidasian menurut laporan laba rugi income tax expense a shown in the consolidated
dan penghasilan komprehensif lain konsolidasian statement of profit or loss and other comprehensive
dengan taksiran laba kena pajak adalah sebagai income and the estimated taxable income is as follows:
berikut:
2025 2024
Laba sebelum beban pajak Consolidated profit before
penghasilan konsolidasian 2,175,816 2,068,594 income tax expense
Dikurangi laba sebelum pajak - Less profit before tax -
entitas anak (478,679 ) (442,687 ) subsidiaries
Disesuaikan dengan eliminasi Adjustment for consolidation
konsolidasian 184,526 265,959 elimination
Laba sebelum beban pajak Profit before tax attributable
Perusahaan 1,882,304 1,891,866 to the Company
Beda temporer Temporary differences
Penyusutan aset tetap 19,456 1,716 Depreciation of fixed assets
Penyisihan persediaan usang Provision for obsolescence
dan lambat bergerak (73 ) 1,177 and slow-moving inventories
Aset hak-guna dan liabilitas Right-of-use assets and
sewa 143 1,220 lease liabilities
Beban imbalan kerja (641 ) 962 Employee benefits expense
Provisi retur penjualan dan Provision for sales return and
hak retur aset 2,686 221 right of return assets
Akrual 33,770 (68,417 ) Accruals
Beda tetap Permanent differences
Beban yang tidak dapat dikurangkan 2,839 (858 ) Non-deductible expenses
Pendapatan yang dikenakan
pajak penghasilan final (219,418 ) (256,697 ) Income subject to final tax
Pendapatan yang bukan
merupakan objek pajak (165,350 ) (200,000 ) Income not subject to tax
Taksiran laba kena pajak - Estimated taxable income -
Perusahaan 1,555,716 1,371,190 the Company
78
Page 195
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
20. PERPAJAKAN (lanjutan) 20. TAXATION (continued)
c. Beban pajak penghasilan (lanjutan) c. Income tax expense (continued)
Beban pajak penghasilan tahun berjalan dan Income tax expense current year and the computation
perhitungan taksiran utang (klaim) pajak penghasilan of the estimated income tax payable (claims for income
adalah sebagai berikut: tax refund) are as follows:
2025 2024
Taksiran penghasilan kena pajak Estimated taxable income
(dibulatkan) (rounded off)
Perusahaan 1,555,716 1,371,190 The Company
Entitas Anak 508,512 434,041 Subsidiaries
Beban pajak penghasilan - Income tax expense -
tahun berjalan current year
Perusahaan 342,257 301,662 The Company
Entitas Anak 111,872 95,489 Subsidiaries
Beban pajak penghasilan menurut Income tax expense per consolidated
laporan laba rugi dan penghasilan statement of profit or loss and
komprehensif lain konsolidasian other comprehensive income
- tahun berjalan 454,129 397,151 - current year
Pajak penghasilan dibayar di muka Prepayments of income taxes
(Pasal 22, 23 dan 25) (Articles 22, 23 and 25)
Perusahaan 246,605 257,348 Company
Entitas Anak 122,301 81,740 Subsidiaries
Pajak penghasilan dibayar di muka 368,906 339,088 Prepayments of income taxes
Taksiran klaim Estimated claims for income
pajak penghasilan - tax refund -
Entitas Anak (11,382 ) - Subsidiaries
Taksiran klaim pajak Estimated claims for income
Penghasilan (11,382 ) - tax refund
Jumlah utang pajak penghasilan Total income tax payable
Pasal 29 Article 29
Perusahaan 95,652 44,314 The Company
Entitas Anak 953 13,749 Subsidiaries
Jumlah utang pajak penghasilan Total income tax payable
Pasal 29 96,605 58,063 Article 29
Taksiran klaim pajak penghasilan pada tanggal Estimated claims for income tax refund at the date of
laporan posisi keuangan konsolidasian untuk periode the consolidated statement of financial position consist
pajak sebagai berikut: of the claims for the period as follows:
2025 2024
Taksiran klaim pajak Estimated claims for income
penghasilan tax refund
Entitas Anak Subsidiaries
2025 11,382 - 2025
2023 - 29,432 2023
Jumlah 11,382 29,432 Total
79
Page 196
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
20. PERPAJAKAN (lanjutan) 20. TAXATION (continued)
c. Beban pajak penghasilan (lanjutan) c. Income tax expense (continued)
Rekonsiliasi antara hasil perhitungan laba sebelum Reconciliation between the computation of consolidated
beban pajak penghasilan konsolidasian dengan beban profit before tax expense and income tax expense as
pajak penghasilan dalam laporan laba rugi dan shown in the consolidated statement of profit or loss and
penghasilan komprehensif lain konsolidasian adalah other comprehensive income is as follows:
sebagai berikut:
2025 2024
Laba sebelum beban pajak Consolidated profit before income
penghasilan konsolidasian 2,175,816 2,068,594 tax expense
Pengaruh pajak atas: The tax effect on:
Pajak penghasilan dihitung dengan Income tax calculated at
tarif pajak yang berlaku 478,679 455,091 applicable tax rate
Pengaruh pajak atas beda Tax effect on permanent
tetap dan pembulatan 8,758 13,537 differences and rounding
Pendapatan yang dikenakan
pajak penghasilan final (55,641 ) (63,733 ) Income subject to final tax
Jumlah beban pajak penghasilan 431,796 404,895 Total income tax expense
Laba kena pajak hasil rekonsiliasi di atas menjadi The taxable income resulted from the above
dasar dalam pengisian SPT Tahunan Pajak reconciliation provides the basis for the Company’s
Penghasilan (PPh) Badan Perusahaan. Annual Corporate Income Tax Return.
d. Aset (liabilitas) pajak tangguhan d. Deferred tax assets (liabilities)
Rincian aset dan liabilitas pajak tangguhan adalah The details of deferred tax assets and liabilities are as
sebagai berikut: follows:
2025
Dikreditkan ke
Dikreditkan penghasilan
(dibebankan) komprehensif
ke laba rugi/ lain/Credited
Saldo awal/ Credited to other Saldo akhir/
Beginning (charged) to comprehensive Ending
balance profit or loss income balance
Aset tetap (42,956 ) 3,308 - (39,648) Fixed assets
Aset hak-guna (17,010 ) 1,955 586 (14,469) Right-of-use assets
Liabilitas sewa 9,320 (2,311 ) - 7,009 Lease liabilities
Liabilitas imbalan kerja 13,935 2,663 158 16,756 Employee benefits liability
Beban akrual 66,342 14,993 - 81,335 Accrued expenses
Penyisihan persediaan Provision for
usang dan lambat obsolescence and
bergerak 3,191 1,362 - 4,553 slow-moving inventories
Provisi retur penjualan 8,452 1,797 - 10,249 Provision for sales return
Hak retur aset (5,418 ) (1,110 ) - (6,528) Right to return assets
Cadangan atas kerugian Allowance for
kredit ekspektasian expected credit losses
piutang usaha 288 (323 ) - (35) of trade receivables
Jumlah 36,144 22,334 744 59,222 Total
80
Page 197
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
20. PERPAJAKAN (lanjutan) 20. TAXATION (continued)
d. Aset (liabilitas) pajak tangguhan (lanjutan) d. Deferred tax assets (liabilities) (continued)
Rincian aset dan liabilitas pajak tangguhan adalah The details of deferred tax assets and liabilities are as
sebagai berikut: (lanjutan) follows: (continued)
2025
Dikreditkan ke
Dikreditkan penghasilan
(dibebankan) komprehensif
ke laba rugi/ lain/Credited
Saldo awal/ Credited to other Saldo akhir/
Beginning (charged) to comprehensive Ending
balance profit or loss income balance
Disajikan sebagai: Presented as:
Aset pajak tangguhan 36,144 22,334 744 59,222 Deferred tax assets
Jumlah 36,144 22,334 744 59,222 Total
Terdiri atas: Comprises:
Perusahaan The Company
Aset pajak tangguhan 18,362 12,733 158 31,253 Deferred tax assets
Entitas anak Subsidiaries
Aset pajak tangguhan 17,782 9,601 586 27,969 Deferred tax assets
Jumlah 36,144 22,334 744 59,222 Total
2024
Dikreditkan ke
Dikreditkan penghasilan
(dibebankan) komprehensif
ke laba rugi/ lain/Credited
Saldo awal/ Credited to other Saldo akhir/
Beginning (charged) to comprehensive Ending
balance profit or loss income balance
Aset tetap (42,116 ) (840 ) - (42,956 ) Fixed assets
Aset hak-guna (15,062 ) (1,948 ) - (17,010 ) Right-of-use assets
Liabilitas sewa 8,713 607 - 9,320 Lease liabilities
Liabilitas imbalan Employee benefits
kerja 13,097 828 10 13,935 liability
Beban akrual 74,077 (7,735 ) - 66,342 Accrued expenses
Penyisihan persediaan Provision for obsolescence
usang dan lambat and slow-moving
bergerak 2,033 1,158 - 3,191 inventories
Provisi retur penjualan 7,947 505 - 8,452 Provision for sales return
Hak retur aset (5,134 ) (284 ) - (5,418 ) Right to return assets
Cadangan kerugian Allowance for
penurunan nilai impairment losses
piutang usaha 323 (35 ) - 288 of trade receivables
Jumlah 43,878 (7,744 ) 10 36,144 Total
Disajikan sebagai: Presented as:
Aset pajak tangguhan 43,878 (7,744 ) 10 36,144 Deferred tax assets
Jumlah 43,878 (7,744 ) 10 36,144 Total
Terdiri atas: Comprises:
Perusahaan The Company
Aset pajak tangguhan 28,962 (10,499 ) (101 ) 18,362 Deferred tax assets
Entitas anak Subsidiaries
Aset pajak tangguhan 14,916 2,755 111 17,782 Deferred tax assets
Jumlah 43,878 (7,744 ) 10 36,144 Total
81
Page 198
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
20. PERPAJAKAN (lanjutan) 20. TAXATION (continued)
e. Administrasi e. Administration
Undang-undang perpajakan Indonesia mengatur The taxation laws in Indonesia require that each
bahwa masing-masing perusahaan dalam Grup company in the Group submits tax returns on the basis
menghitung, menetapkan dan membayar sendiri of self-assessment.
besarnya jumlah pajak yang terutang.
Berdasarkan perundang-undangan yang berlaku, Under prevailing regulations, the Directorate General of
Direktorat Jenderal Pajak (“DJP”) dapat menetapkan Taxes ("DGT") may assess or amend taxes within five
atau mengubah kewajiban pajak dalam jangka waktu years from the time the tax becomes due.
lima tahun sejak saat terutangnya pajak.
21. MODAL SAHAM 21. SHARE CAPITAL
Susunan pemegang saham Perusahaan dan The Company’s shareholders and their respective
kepemilikannya pada tanggal-tanggal 31 Desember 2025 ownership as of December 31, 2025 and 2024 are as
dan 2024 adalah sebagai berikut: follows:
Jumlah saham
ditempatkan dan
disetor penuh/ Persentase
Number of kepemilikan/
shares issued Percentage Jumlah/
Pemegang saham and fully paid of ownership Total Shareholders
31 Desember 2025 December 31, 2025
PT Tancorp Surya Sentosa 22,674,971,000 36.60% 226,750 PT Tancorp Surya Sentosa
PT Wahana Lancar Rejeki 20,129,652,900 32.49% 201,297 PT Wahana Lancar Rejeki
Archipelago Investment Archipelago Investment
Private Limited 3,902,748,900 6.30% 39,027 Private Limited
Rudi Tanoko 1,041,265,000 1.68% 10,413 Rudi Tanoko
Rony Tanoko 21,999,500 0.04% 220 Rony Tanoko
Direksi Board of Directors
Robert Christian Tanoko 1,425,406,300 2.30% 14,254 Robert Christian Tanoko
Ruslan Tanoko *) 153,251,300 0.25% 1,533 Ruslan Tanoko *)
Wijono Tanoko 2,504,200 0.00% 25 Wijono Tanoko
Kurnia Hadi Sinanto 782,500 0.00% 7 Kurnia Hadi Sinanto
Angelica Tanisia Jozar 311,300 0.00% 3 Angelica Tanisia Jozar
Masyarakat (masing-masing Public (each below
kepemilikan di bawah 5%) 9,959,835,500 16.08% 99,599 5% ownership)
Jumlah saham beredar 59,312,728,400 95.74% 593,128 Total outstanding shares
Saham treasuri 2,640,827,200 4.26% 26,408 Treasury shares
Jumlah 61,953,555,600 100% 619,536 Total
*) Tidak Langsung melalui PT Sensasi Istana Warna *) Indirectly through PT Sensasi Istana Warna
82
Page 199
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
21. MODAL SAHAM (lanjutan) 21. SHARE CAPITAL (continued)
Susunan pemegang saham Perusahaan dan The Company’s shareholders and their respective
kepemilikannya pada tanggal-tanggal 31 Desember 2025 ownership as of December 31, 2025 and 2024 are as
dan 2024 adalah sebagai berikut: (lanjutan) follows: (continued)
Jumlah saham
ditempatkan dan
disetor penuh/ Persentase
Number of kepemilikan/
shares issued Percentage Jumlah/
Pemegang saham and fully paid of ownership Total Shareholders
31 Desember 2024 December 31, 2024
PT Tancorp Surya Sentosa 22,674,971,000 36.60% 226,750 PT Tancorp Surya Sentosa
PT Wahana Lancar Rejeki 20,129,652,900 32.49% 201,297 PT Wahana Lancar Rejeki
Archipelago Investment Archipelago Investment
Private Limited 3,902,748,900 6.30% 39,027 Private Limited
Rudi Tanoko 1,041,265,000 1.68% 10,413 Rudi Tanoko
Rony Tanoko 497,829,300 0.80% 4,978 Rony Tanoko
Direksi Board of Directors
Robert Christian Tanoko 1,425,406,300 2.30% 14,254 Robert Christian Tanoko
Ruslan Tanoko *) 37,724,500 0.06% 378 Ruslan Tanoko *)
Wijono Tanoko 2,504,200 0.00% 25 Wijono Tanoko
Kurnia Hadi Sinanto 651,600 0.00% 7 Kurnia Hadi Sinanto
Angelica Tanisia Jozar 222,400 0.00% 2 Angelica Tanisia Jozar
Masyarakat (masing-masing Public (each below
kepemilikan di bawah 5%) 11,077,130,300 17.89% 110,771 5% ownership)
Jumlah saham beredar 60,790,106,400 98.12% 607,902 Total outstanding shares
Saham treasuri 1,163,449,200 1.88% 11,634 Treasury shares
Jumlah 61,953,555,600 100% 619,536 Total
*) Tidak Langsung melalui PT Sensasi Istana Warna *) Indirectly through PT Sensasi Istana Warna
Pada tahun 2025 dan 2024, Perusahaan telah melakukan In 2025 and 2024, the Company repurchased
pembelian kembali masing-masing 1.477.378.000 dan 1,477,378,000 and 1,128,830,400, respectively, of its own
1.128.830.400 lembar saham biasa Perusahaan melalui shares through purchases on the IDX (Note 1b). This
pembelian pada BEI (Catatan 1b). Pembelian kembali repurchase transaction is intended to stabilise the
saham Perusahaan ini ditujukan untuk menjaga stabilitas Company’s share price. The total amount paid to acquire
harga saham Perusahaan. Jumlah pembayaran untuk the shares was Rp 645,342 (Rp 382 - Rp 490/share - full
mengakuisisi saham tersebut masing-masing adalah amount) and Rp 558,183 (Rp 358 - Rp 600/share - full
Rp 645.342 (Rp 382 - Rp 490/lembar saham - nilai penuh) amount) in 2025 and 2024, respectively. The total amount
dan Rp 558.183 (Rp 358 - Rp 600/lembar saham - nilai paid to acquire the shares as of December 31, 2025 and
penuh) pada tahun 2025 dan 2024. Jumlah pembayaran 2024 amounted to Rp 1,219,894 and Rp 574,552,
untuk mengakuisisi saham tersebut pada tanggal respectively. The shares are held as “treasury shares” in
31 Desember 2025 dan 2024 masing-masing sebesar the consolidated statement of financial position as of
Rp 1.219.894 dan Rp 574.552. Saham tersebut dicatat December 31, 2025 and 2024.
pada “saham treasuri” dalam laporan posisi keuangan
konsolidasian tanggal 31 Desember 2025 dan 2024.
83
Page 200
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
21. MODAL SAHAM (lanjutan) 21. SHARE CAPITAL (continued)
Pengelolaan modal Capital management
Tujuan Grup dalam pengelolaan permodalan adalah untuk The Group’s objectives when managing capital are to
mempertahankan kelangsungan usaha Grup serta safeguard the Group’s ability to continue as a going
memaksimalkan manfaat bagi pemegang saham dan concern while seeking to maximise benefits to shareholders
pemangku kepentingan lainnya serta menjaga struktur and other stakeholders and to maintain an optimal capital
modal yang optimal untuk mengurangi biaya modal. structure to reduce the cost of capital.
Manajemen Grup mengelola struktur permodalan dan The Group manages its capital structure and makes
melakukan penyesuaian, berdasarkan perubahan kondisi adjustments to it, in light of changes in economic conditions.
ekonomi. Untuk memelihara dan menyesuaikan struktur To maintain or adjust the capital structure, the Group may
permodalan, Grup dapat memilih menyesuaikan adjust the dividend payment to shareholders, return capital
pembayaran dividen kepada pemegang saham, to shareholders, issue new shares or sell assets to reduce
mengembalikan modal kepada pemegang saham, debt. No changes were made in the objectives, policies or
menerbitkan saham baru atau menjual aset untuk processes during the periods presented.
mengurangi jumlah utang. Tidak ada perubahan yang
dibuat dalam tujuan, kebijakan, atau proses selama
periode yang disajikan.
Kebijakan Grup adalah mempertahankan struktur The Group’s policy is to maintain a healthy capital structure
permodalan yang sehat untuk mengamankan akses in order to secure access to finance at a reasonable cost.
terhadap pendanaan pada biaya yang wajar.
22. TAMBAHAN MODAL DISETOR 22. ADDITIONAL PAID-IN CAPITAL
2025 2024
Selisih nilai nominal dengan Difference between par value
penerimaan setoran modal 7,874,557 7,874,557 and proceeds of share capital
Biaya emisi saham (119,356 ) (119,356 ) Shares issuance costs
Dampak transaksi antara entitas Transactions between entities under
sepengendali 38,017 38,017 common control
Jumlah 7,793,218 7,793,218 Total
Perusahaan melakukan penawaran umum perdana The Company made an initial public offering of
sebanyak 6.200.000.000 lembar saham dengan nilai 6,200,000,000 shares to the public with a par value of
nominal Rp 10 (angka penuh) per lembar saham dan Rp 10 (full amount) per share at an offering price of Rp 930
harga penawaran sebesar Rp 930 (angka penuh) per (full amount) per share.
lembar saham.
Biaya emisi saham merupakan biaya transaksi yang timbul Share issuance costs are transaction costs arising from the
dari aktivitas Penawaran Umum Saham Perdana, antara Initial Public Offering, which includes underwriting and
lain mencakup biaya jasa penjaminan dan management fees, supporting professional service fees,
penyelenggaraan, biaya profesi penunjang pasar modal, capital market supporting institution fees and other fees.
biaya lembaga penunjang pasar modal dan biaya lain-lain.
84
Page 201
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
23. SALDO LABA YANG DITENTUKAN 23. APPROPRIATED RETAINED EARNINGS
PENGGUNAANNYA
Perusahaan dipersyaratkan oleh Undang-undang The Company is required by the Limited Liability Company
Perseroan Terbatas No. 40 Tahun 2007 efektif tanggal Law No. 40, Year 2007 effective August 16, 2007 to
16 Agustus 2007 untuk mengalokasikan sampai dengan allocate to and maintain a non-distributable reserve fund
20% dari modal ditempatkan dan disetor ke dalam dana until the said reserve reaches at least 20% of the issued
cadangan yang tidak boleh didistribusikan. and paid capital.
Berdasarkan Surat Keputusan Direksi Based on the Board of Directors’ Decision Letter
No. 036/AA/DIR/XI/2021 bertanggal 7 September 2021 No. 036/AA/DIR/XI/2021 dated September 7, 2021
tentang Pembentukan Cadangan Umum, Direksi concerning the Establishment of General Reserves, the
Perusahaan telah menyetujui untuk menyisihkan sebagian Company's Board of Directors has agreed to set aside a
saldo laba Perusahaan untuk cadangan umum sebesar portion of the Company's retained earnings for general
Rp 112.000 sebagai tindak lanjut atas keputusan reserves amounting to Rp 112,000 as a follow-up to the
pemegang saham Perusahaan dalam Rapat Umum decision of the Company's shareholders in the General
Pemegang Saham tertanggal 14 Juni 2021. Meeting of Shareholders dated June 14, 2021.
Berdasarkan Rapat Umum Pemegang Saham Tahunan Based on the Annual General Shareholders’ Meeting held
yang diselenggarakan pada tanggal 22 April 2022, para on April 22, 2022, the Company’s shareholders approved
pemegang saham menyetujui tambahan pencadangan the addition of appropriation for general reserve of
umum sebesar Rp 12.000 dari laba konsolidasian tahun Rp 12,000 from 2021 consolidated profit.
2021.
Tidak ada penambahan pembentukan cadangan umum No additional appropriation for general reserve has been
pada tahun 2025 dan 2024. made in 2025 and 2024.
24. LABA PER SAHAM DASAR DAN DILUSIAN 24. BASIC AND DILUTED EARNINGS PER SHARE
Rincian perhitungan laba per saham dasar dan dilusian Details of basic and diluted earnings per share computation
adalah sebagai berikut: are as follows:
2025 2024
Laba tahun berjalan yang dapat
diatribusikan kepada pemilik Income for the year attributable to equity
entitas induk 1,747,462 1,664,341 holders of the parent company
Rata-rata tertimbang jumlah saham Weighted average number
yang beredar 60,033,042,942 61,289,388,327 of outstanding shares
Laba per saham dasar Basic and diluted earnings
dan dilusian (nilai penuh) 29.11 27.16 per share (full amount)
Perusahaan tidak memiliki efek berpotensi dilusi saham The Company does not have any potentially dilutive shares.
sehingga laba per saham dasar sama dengan laba per Therefore, the diluted earnings per share is equal to the
saham dilusian. basic earnings per share.
25. DIVIDEN 25. DIVIDENDS
Berdasarkan Keputusan Sirkuler Direksi Based on Circular Resolution of Directors
No. 014/AA/SK/DIR/X/2025 tanggal 31 Oktober 2025, No. 014/AA/SK/DIR/X/2025 on October 31, 2025, the
pembagian dividen interim tunai sebesar Rp 654.210 distribution of interim cash dividends amounting to
(Rp 11/lembar saham - nilai penuh) telah disetujui dan Rp 654,210 (Rp 11/share - full amount) was approved and
telah dibayarkan pada tanggal 20 November 2025. paid on November 20, 2025.
85
Page 202
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
25. DIVIDEN (lanjutan) 25. DIVIDENDS (continued)
Berdasarkan Akta Notaris No. 1 yang dibuat oleh Notaris Based on Notarial Deed No. 1 by Notary Dr. Susanti, S.H.,
Dr. Susanti, S.H., M.Kn., dalam Rapat Umum Pemegang M.Kn., in the Annual General Shareholders’ Meeting of the
Saham Tahunan Perusahaan tanggal 10 April 2025, para Company dated April 10, 2025, the Company’s
pemegang saham menyetujui pembagian dividen tunai shareholders approved the distribution of cash dividends
dari laba bersih tahun 2024 sebesar Rp 1.337.793 from 2024 profit amounting to Rp 1,337,793 (Rp 22/share -
(Rp 22/lembar saham - nilai penuh) yang terdiri atas full amount) which comprises of interim dividends
dividen interim sebesar Rp 671.979 (Rp 11/lembar saham amounting to Rp 671,979 (Rp 11/share - full amount) paid
- nilai penuh) yang telah dibayarkan pada tanggal on November 21, 2024, and final dividends of
21 November 2024, dan dividen final sebesar Rp 665.814 Rp 665,814 (Rp 11/share - full amount) paid on
(Rp 11/lembar saham - nilai penuh) yang telah dibayarkan April 30, 2025.
pada tanggal 30 April 2025.
Berdasarkan Berita Acara Rapat Umum Pemegang Based on Minutes of Annual General Meeting of
Saham Tahunan No. 2 tanggal 4 April 2024 yang dibuat Shareholders No. 2 dated April 4, 2024 by Notary
oleh Notaris Dr. Susanti, S.H., M.Kn., Notaris di Surabaya, Dr. Susanti, S.H., M.Kn., Notary in Surabaya, the
para pemegang saham menyetujui pembagian dividen Company’s shareholders approved the distribution of cash
tunai dari laba bersih tahun 2023 sebesar Rp 1.357.652 dividends from 2023 profit amounting to Rp 1,357,652
(Rp 22/lembar saham - nilai penuh) yang terdiri atas (Rp 22/share - full amount) which comprises of interim
dividen interim sebesar Rp 681.489 (Rp 11/lembar saham dividends amounting to Rp 681,489 (Rp 11/share - full
- nilai penuh) yang telah dibayarkan pada tanggal amount) paid on October 31, 2023, and final dividends of
31 Oktober 2023, dan dividen final sebesar Rp 676.163 Rp 676,163 (Rp 11/share - full amount) paid on
(Rp11/lembar saham - nilai penuh) yang telah dibayarkan April 30, 2024.
pada tanggal 30 April 2024.
26. PENJUALAN NETO 26. NET REVENUES
Grup memperoleh pendapatan dari penjualan cat dan The Group derives its revenue from the sale of paints and
bahan bangunan, yang dicatat pada waktu tertentu ketika building materials, which is recognized at a point in time
kendali atas barang dialihkan ke pelanggan pada waktu when control of the goods is transferred to the customers.
tertentu.
Penjualan neto berdasarkan kategori pelanggan: Net revenues by customers category:
2025 2024
Pihak ketiga 8,073,426 7,411,273 Third parties
Pihak berelasi (Catatan 7) 50,259 60,083 Related parties (Note 7)
Jumlah 8,123,685 7,471,356 Total
Penjualan neto berdasarkan jaringan distribusi: Net revenues by distribution channel:
2025 2024
Distributor sendiri 7,331,671 6,695,381 Own distributors
Distributor pihak ketiga 776,870 735,518 Third party distributors
Penjualan langsung 15,144 40,457 Direct sales
Jumlah 8,123,685 7,471,356 Total
86
Page 203
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
26. PENJUALAN NETO (lanjutan) 26. NET REVENUES (continued)
Penjualan melalui distributor sendiri merupakan penjualan Sales through own distributors represent sales made
yang dilakukan melalui PT TKTW (entitas anak) dan through PT TKTW (subsidiary) and PT TKBI (indirect
PT TKBI (entitas anak tidak langsung) kepada pelanggan. subsidiary) to the customers. Sales through third party
Penjualan melalui distributor pihak ketiga merupakan distributors represent sales made through the Company’s
penjualan yang dilakukan melalui distributor Perusahaan. distributors. Direct sales represent non-retail/project sales.
Penjualan langsung merupakan penjualan kepada
pelanggan non-ritel/pelanggan proyek.
Pada tanggal 31 Desember 2025 dan 2024, Grup tidak As of December 31, 2025 and 2024, the Group does not
memiliki penjualan kepada pelanggan tertentu dengan have any sales to certain customers with the individual
total penjualan kumulatif individual masing-masing cumulative amount each exceeding 10% of the total
melebihi 10% dari total pendapatan konsolidasian. consolidated revenues.
Seluruh pelanggan adalah pelanggan lokal. All customers are local customers.
Pada tanggal 31 Desember 2025 dan 2024, liabilitas As of December 31, 2025 and 2024, contract liabilities
kontrak yang berkaitan dengan kontrak penjualan masing- related to revenue contracts amounting to Rp 157,808 and
masing sebesar Rp 157.808 dan Rp 146.738 diakui Rp 146,738, respectively, were recognised as part of
sebagai bagian dari beban akrual pemasaran dan accrued marketing and promotion expense. The prior year’s
promosi. Liabilitas kontrak tahun sebelumnya yang telah contract liabilities which have been realised in the current
terealisasi pada periode pelaporan saat ini dan telah diakui reporting period and have been recognised as revenue
sebagai pendapatan sebesar Rp 146.738 amounted to Rp 146,738 (2024: Rp 205,579).
(2024: Rp 205.579).
27. BEBAN POKOK PENJUALAN 27. COST OF GOODS SOLD
2025 2024
Pemakaian bahan baku 2,040,639 1,925,433 Raw materials usage
Upah langsung 68,330 77,841 Direct labour
Beban pabrikasi: Factory overhead:
Upah tak langsung 120,081 96,034 Indirect labour
Penyusutan aset tetap Depreciation of fixed
(Catatan 13) 38,169 34,775 assets (Note 13)
Listrik, air, dan gas 18,470 18,459 Electricity, water, and gas
Perawatan dan pemeliharaan 18,431 20,148 Repairs and maintenance
Pemakaian bahan pembantu 6,257 5,422 Supporting materials used
Perlengkapan pabrik 4,491 4,850 Factory supplies
Amortisasi aset takberwujud 1,150 923 Amortization of intangible asset
Lain-lain 16,858 13,866 Others
Jumlah beban produksi 2,332,876 2,197,751 Total production cost
Barang dalam proses Work in process
Awal tahun 41,994 45,887 At beginning of year
Akhir tahun (68,035 ) (41,994 ) At end of year
Beban pokok produksi 2,306,835 2,201,644 Cost of goods manufactured
Barang jadi Finished goods
Awal tahun 1,051,043 996,609 At beginning of year
Pembelian 1,800,252 1,367,214 Purchases
Akhir tahun (1,095,072 ) (1,051,043 ) At end of year
Beban pokok penjualan sebelum Cost of goods sold before
pemakaian barang promosi 4,063,058 3,514,424 promotional goods consumption
Pemakaian barang promosi 482,371 616,182 Promotional goods consumption
Beban pokok penjualan 4,545,429 4,130,606 Cost of goods sold
87
Page 204
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
27. BEBAN POKOK PENJUALAN (lanjutan) 27. COST OF GOODS SOLD (continued)
Rincian pemasok yang memiliki transaksi pembelian lebih Details of suppliers with purchase transactions that
dari 10% dari total penjualan usaha konsolidasian adalah represent more than 10% of the total consolidated revenue
sebagai berikut: is as follows:
2025 2024
PT Avia Avian Industri Pipa 1,159,509 1,053,497 PT Avia Avian Industri Pipa
28. BEBAN USAHA 28. OPERATING EXPENSES
Rincian beban penjualan adalah sebagai berikut: The details of selling expenses are as follows:
2025 2024
Gaji, upah dan kesejahteraan karyawan 574,794 534,868 Salaries, wages and employee benefits
Biaya angkut penjualan 248,536 210,694 Freight out
Penyusutan (Catatan 13 dan 17) 179,900 165,089 Depreciation (Notes 13 and 17)
Pemasaran dan promosi 145,170 185,516 Marketing and promotion
Komisi penjualan 81,729 69,815 Sales commission
Perjalanan dinas 52,493 56,923 Business travel
Bahan bakar 31,921 29,076 Fuel
Pemeliharaan 25,871 22,221 Maintenance
Percetakan 22,303 26,673 Printing
Lain-lain 15,549 17,542 Others
Jumlah 1,378,266 1,318,417 Total
Rincian beban umum dan administrasi adalah sebagai The details of general and administrative expenses are as
berikut: follows:
2025 2024
Gaji, upah dan kesejahteraan karyawan 85,313 81,082 Salaries, wages and employee benefits
Penyusutan (Catatan 13 dan 17) 46,169 43,833 Depreciation (Notes 13 and 17)
Perlengkapan kantor 25,315 22,360 Office supplies
Asuransi 23,209 21,506 Insurance
Perijinan dan legalitas 17,442 10,282 Permits and legal
Utilitas 14,996 13,867 Utilities
Perjalanan dinas 14,825 12,875 Business travelling
Jasa tenaga ahli 10,263 9,175 Professional fees
Pajak dan lisensi 9,553 4,020 Taxes and licenses
Amortisasi aset takberwujud 7,080 6,517 Amortization of intangible asset
Kebersihan dan keamanan 4,849 4,290 Cleaning and security
Sumbangan dan jamuan 3,874 4,500 Donation and entertainment
Pelatihan 3,674 6,543 Training
Lain-lain 11,118 12,393 Others
Jumlah 277,680 253,243 Total
29. PENDAPATAN KEUANGAN 29. FINANCE INCOME
2025 2024
Bunga dari investasi pada Interest from investment in
surat utang negara (Catatan 10) 146,189 154,994 government bonds (Note 10)
Bunga dari deposito 81,004 117,367 Interest from time deposits
Bunga dari rekening giro 12,741 12,744 Interest from current accounts
Jumlah 239,934 285,105 Total
88
Page 205
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
30. BEBAN KEUANGAN 30. FINANCE CHARGES
2025 2024
Beban bunga atas liabilitas sewa Interest expense on lease liabilities
(Catatan 17) 1,843 2,011 (Note 17)
Beban bunga pinjaman bank 683 528 Interest expense on bank loans
Jumlah 2,526 2,539 Total
31. PENDAPATAN LAIN-LAIN - NETO 31. OTHER INCOME - NET
Rincian pendapatan (beban) lain-lain - neto adalah The details of other income (expenses) - net are as follows:
sebagai berikut:
2025 2024
Pendapatan dividen (Catatan 11) 15,350 - Dividend income (Note 11)
Pendapatan sewa gedung kantor Office and factory buildings
dan pabrik 6,111 4,307 rental income
Keuntungan pelepasan Gain on disposal of
aset tetap (Catatan 13) 4,312 1,337 fixed assets (Note 13)
Penjualan barang afalan 3,963 6,389 Sale of scrap
Keuntungan penjualan investasi Gain on sale of investment in
pada surat utang negara 1,353 - government bonds
Kenaikan (penurunan) nilai properti Increase (decrease) in fair value of
investasi (Catatan 12) (646 ) 397 investment properties (Note 12)
Beban operasional atas gedung yang Operational expenses of leased
disewakan (Catatan 12) (2,847 ) (2,579 ) building (Note 12)
Kerugian selisih kurs - neto (11,790 ) (4,283 ) Loss on foreign exchange - net
Lain-lain - neto 1,259 8,534 Others - net
Jumlah 17,065 14,102 Total
32. ASET ATAU LIABILITAS MONETER BERSIH DALAM 32. NET MONETARY ASSETS AND LIABILITIES
MATA UANG ASING DENOMINATED IN FOREIGN CURRENCIES
Aset dan liabilitas keuangan Grup dalam mata uang asing The Group’s financial assets and liabilities in foreign
adalah sebagai berikut: currencies are as follows:
2025 2024
Dalam mata Dalam mata
uang asing/ uang asing/
Mata uang/ In original Jumlah setara/ In original Jumlah setara/
Currency currencies Equivalent to currencies Equivalent to
Aset moneter Monetary assets
Dolar AS/
Kas dan setara kas US Dollar 3,017 51 16,249 263 Cash and cash equivalents
Liabilitas moneter Monetary liabilities
Dolar AS/
Utang usaha US Dollar (4,582,898) (76,887) (4,933,321) (79,732) Trade payables
CNY (14,629,500) (34,998) (28,678,389) (63,499)
Euro (131,419) (2,597) (433,631) (7,307)
SGD (560,869) (7,322) (373,878) (4,456)
GBP - - (9,903) (201)
(121,804) (155,195)
Liabilitas moneter - neto (121,753) (154,932) Monetary liabilities - net
89
Page 206
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
33. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO 33. FINANCIAL RISK MANAGEMENT OBJECTIVE AND
KEUANGAN POLICIES
Aktivitas Grup rentan terhadap berbagai risiko keuangan: The Group’s activities are exposed to a variety of financial
risiko pasar (termasuk risiko nilai mata uang asing, risiko risks: market risk (including foreign exchange risk, price risk
harga, dan risiko tingkat suku bunga), risiko kredit dan and interest rate risk), credit risk and liquidity risk. The
risiko likuiditas. Program manajemen risiko Grup secara Group’s overall risk management programme focuses on
keseluruhan dipusatkan pada pasar keuangan yang tidak the unpredictability of financial markets and seeks to
dapat diprediksi dan Grup berusaha untuk memperkecil minimise potential adverse effects on the Group’s financial
efek yang berpotensi merugikan kinerja keuangan Grup. performance. Financial risk management is carried out
Fungsi manajemen risiko keuangan dijalankan dalam under the monitoring of the Directors.
pengawasan Direksi.
Faktor-faktor risiko keuangan Financial risk factors
a. Risiko pasar a. Market risk
Risiko nilai tukar mata uang asing Foreign exchange risk
Mata uang fungsional Grup adalah Rupiah. Grup The Group’s functional currency is Rupiah. The Group
menghadapi risiko nilai tukar mata uang asing karena faces foreign exchange risk as a portion of its
sebagian pembelian dan biaya operasionalnya dalam purchases and operating expenses are denominated in
mata uang asing. Penurunan/penguatan nilai tukar foreign currencies. The weakening/strengthening of
mata uang asing terhadap Rupiah, mengakibatkan foreign currency exchange rate against Rupiah, will
utang dan biaya operasional dalam Rupiah cause payable and operating expenses in Rupiah
menurun/meningkat. decrease/increase.
Grup memonitor secara ketat fluktuasi dari nilai tukar The Group closely monitors the foreign exchange rate
mata uang asing sehingga dapat mengambil langkah- fluctuation and market expectation so it can take
langkah yang paling menguntungkan Grup pada necessary actions benefited most to the Group in due
waktu yang tepat. Grup mengelola eksposur mata time. The Group manages the foreign currency
uang asing dengan mencocokkan, sebisa mungkin, exposure by matching, as far as possible, receipts and
penerimaan dan pembayaran dalam masing-masing payments in each individual currency. The Group’s net
individu mata uang. Jumlah eksposur mata uang open foreign currency exposure as of reporting date is
asing neto Grup pada tanggal pelaporan diungkapkan disclosed in Note 32.
dalam Catatan 32.
Analisis sensitivitas untuk risiko nilai mata uang asing Sensitivity analysis for foreign currency risk
Pada tanggal 31 Desember 2025, jika nilai tukar As of December 31, 2025, had the Rupiah exchange
Rupiah terhadap Dolar AS menguat/melemah rate strengthened/weakened by 10% against US
sebesar 10%, dengan semua variabel lain konstan, Dollar, with all other variables held constant, post-tax
maka laba setelah pajak untuk tahun yang berakhir profit for the year then ended would have been
pada tanggal tersebut akan meningkat/menurun Rp 5,993 (December 31, 2024: Rp 6,199) higher/lower.
sebesar Rp 5.993 (31 Desember 2024: Rp 6.199). The impact on equity would have been the same as
Dampak terhadap ekuitas akan sama dengan the impact on profit for the year.
dampak pada laba tahun berjalan.
Risiko harga Price risk
Grup rentan terhadap risiko harga efek utang karena The Group is exposed to debt securities price risk
investasi yang dimiliki Grup diklasifikasikan dalam because the investments held by the Group are
laporan posisi keuangan konsolidasian sebagai classified on the consolidated statement of financial
diukur pada nilai wajar melalui penghasilan position at fair value through other comprehensive
komprehensif lain dan nilai wajar melalui laba rugi. income and fair value through profit or loss. The Group
Grup tidak rentan terhadap risiko harga komoditas. is not exposed to commodity price risk.
Untuk mengelola risiko harga yang timbul dari To manage price risk arising from investments in debt
investasi pada efek utang, Grup melakukan analisis securities, the Group performs an analysis of the
terkait besarnya bunga kupon yang ditawarkan number of coupon bonds offered and the required rate
dengan tingkat imbal hasil umum yang diharapkan of return which is generally expected by the market.
oleh pasar.
90
Page 207
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
33. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO 33. FINANCIAL RISK MANAGEMENT OBJECTIVE AND
KEUANGAN (lanjutan) POLICIES (continued)
Faktor-faktor risiko keuangan (lanjutan) Financial risk factors (continued)
a. Risiko pasar (lanjutan) a. Market risk (continued)
Risiko harga (lanjutan) Price risk (continued)
Analisis sensitivitas untuk risiko harga Sensitivity analysis for price risk
Pada tanggal 31 Desember 2025, apabila tingkat As of December 31, 2025, if market required rate of
imbal hasil secara umum yang diharapkan oleh pasar return increased/decreased for 5%, post-tax profit for
bergerak naik/turun 5%, maka laba setelah pajak the year then ended would increased/decreased by
untuk tahun yang berakhir pada tanggal tersebut Rp 123,504 (December 31, 2024: Rp 148,942) as a
akan naik/turun sebesar Rp 123.504 result of gains/(losses) on investments in government
(31 Desember 2024: Rp 148.942) sebagai akibat bonds and mutual funds classified as at FVTOCI and
keuntungan/(kerugian) atas investasi pada surat FVTPL. The impact on equity would have been the
utang negara dan reksa dana yang diklasifikasikan same as the impact on the consolidated profit or loss
sebagai FVOCI dan FVTPL. Dampak terhadap and other comprehensive income for the year.
ekuitas akan sama dengan dampak pada laba rugi
dan penghasilan komprehensif lain konsolidasian
tahun berjalan.
Risiko tingkat suku bunga Interest rate risk
Risiko suku bunga dari kas di bank, deposito The interest rate risk from cash in banks, time deposits
berjangka, dan investasi jangka pendek tidak and short-term investments is not significant.
signifikan. Investasi pada surat utang negara, Investment in government bonds, bank loans and
pinjaman bank dan liabilitas sewa yang memiliki lease liabilities which bear fixed interest rates expose
tingkat suku bunga tetap mengekspos Grup terhadap the Group to fair value interest rate risk.
risiko nilai wajar suku bunga.
Tidak ada analisis sensitivitas yang dilakukan karena No sensitivity analysis is prepared as the Group does
Grup tidak memperkirakan adanya dampak material not expect any material effect on the Group’s profit or
terhadap laba atau rugi Grup yang timbul dari loss arising from the effects of reasonably possible
dampak perubahan suku bunga yang wajar pada changes to interest rates on interest bearing financial
instrumen keuangan berbunga pada akhir periode instruments at the end of the reporting period. The
pelaporan. Laba atau rugi Grup tidak terpengaruh Group’s profit or loss are not affected by changes in
oleh perubahan suku bunga karena instrumen interest rates as the interest-bearing instruments carry
berbunga tersebut memiliki tingkat bunga tetap dan fixed interest and are amortized cost.
merupakan biaya perolehan diamortisasi.
Grup memonitor secara ketat fluktuasi suku bunga The Group closely monitors the market interest rate
pasar dan ekspektasi pasar sehingga dapat fluctuation and market expectation so it can take
mengambil langkah-langkah yang paling necessary actions benefited most to the Group in due
menguntungkan Grup secara tepat waktu. time.
b. Risiko kredit b. Credit risk
Grup terekspos risiko kredit dari kas di bank, deposito The Group is exposed to credit risk from cash in
berjangka, kas di bank dan deposito yang dibatasi banks, time deposits, restricted cash in bank and time
penggunaannya, investasi jangka pendek, investasi deposits, short-term investments, investment in
pada surat utang negara, investasi reksa dana, government bond, investment in mutual funds,
investasi pada surat utang jangka panjang, piutang long-term debt investment, trade receivables and other
usaha dan piutang lain-lain dari pihak ketiga. receivables from third parties.
91
Page 208
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
33. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO 33. FINANCIAL RISK MANAGEMENT OBJECTIVE AND
KEUANGAN (lanjutan) POLICIES (continued)
Faktor-faktor risiko keuangan (lanjutan) Financial risk factors (continued)
b. Risiko kredit (lanjutan) b. Credit risk (continued)
Semua kas di bank, deposito berjangka, kas dan All the cash in banks, time deposits, restricted cash in
deposito yang dibatasi penggunaannya ditempatkan banks and short-term investments are placed in foreign
di bank asing dan lokal yang memiliki reputasi dan and local banks with good reputation and rating.
peringkat yang baik.
Dalam pemilihan pelanggan, Grup menerapkan In selecting its customers, the Group applies prudent
kebijakan persetujuan atas kontrak penjualan acceptance policies of new sales contracts and
berdasarkan prinsip kehati-hatian serta melakukan perform ongoing monitoring as well as managing the
pengelolaan atas piutangnya. Sebagai bagian dari collection of its receivables. As part of the approval
proses persetujuan tersebut, reputasi dan catatan process, the customer’s reputation and track record
historis pelanggan menjadi bahan pertimbangan. are taken into consideration.
Berdasarkan penilaian manajemen atas kerugian Based on management’s assessment of the expected
kredit ekspektasian berdasarkan PSAK 109, credit losses under PSAK 109, the Group’s
manajemen Grup berkeyakinan bahwa cadangan management believes that the allowance for expected
kerugian kredit ekspektasian piutang usaha dan credit losses of trade and other receivables is sufficient
piutang lain-lain telah memadai untuk menutup to cover possible losses from uncollectible receivables.
kemungkinan kerugian atas tidak tertagihnya piutang Refer to Note 6 for detailed receivables aging and
usaha. Lihat Catatan 6 untuk rincian umur piutang allowance for expected credit losses of trade
dan cadangan kerugian kredit ekspektasian piutang receivables.
usaha.
Piutang lain-lain dari pihak berelasi merupakan Other receivables from related parties represents the
piutang Grup dari pihak berelasinya atas klaim Group’s receivables from its related parties for
program loyalitas pelanggan dan pengembalian customer loyalty program claim and reimbursement of
aktivitas pemasaran. Berdasarkan penilaian marketing activities. Based on management’s
manajemen atas kerugian kredit ekspektasian assessment of the expected credit losses under PSAK
berdasarkan PSAK 109, manajemen Grup 109, the Group’s management believes that the
berkeyakinan bahwa kerugian kredit ekspektasian expected credit losses is close to nil, as such, no
untuk piutang lain-lain mendekati nihil, sehingga allowance for expected credit of other receivables is
cadangan kredit ekspektasian atas piutang lain-lain necessary.
tidak diperlukan.
Tabel di bawah merinci kualitas kredit aset keuangan The table below details the credit quality of the Group’s
Grup serta eksposur maksimum risiko kredit menurut financial assets as well as maximum exposure to credit
peringkat risiko kredit: risk by credit risk rating grades:
2025
Peringkat Peringkat Jumlah
kredit kredit tercatat Jumlah
external/ internal/ bruto/ Cadangan tercatat
External Internal ECL 12 bulan atau sepanjang Gross kerugian/ neto/
credit credit umur/ carrying Loss Net carrying
rating rating 12-month or lifetime ECL amount allowance amount
Lancar/
Kas dan setara kas (Catatan 5) BBB Performing ECL 12 bulan/12-month ECL 1,654,810 - 1,654,810 Cash and cash equivalents (Note 5)
ECL sepanjang umur (pendekatan
sederhana)/ Lifetime ECL (simplified
approach)
Piutang usaha (Catatan 6) N/A (i) ECL sepanjang umur (pendekatan 1,633,123 (2,860) 1,630,263 Trade receivables (Note 6)
sederhana)/ Lifetime ECL (simplified
approach)
Lancar/
Piutang lain-lain (Catatan 8) N/A Performing ECL sepanjang umur (pendekatan 153,073 - 153,073 Other receivables (Note 8)
sederhana)/ Lifetime ECL (simplified
approach)
BBB/Baa2 Lancar/
Investasi jangka pendek (Catatan 10) Performing ECL 12 bulan/12-month ECL 2,570,080 - 2,570,080 Short-term investments (Note 10)
Investasi pada surat utang Lancar/
jangka panjang (Catatan 11) AAA/Idn Performing ECL 12 bulan/12-month ECL 81,112 - 81,112 Long-term debt investments (Note 11)
Jumlah 6,092,198 (2,860) 6,089,338 Total
92
Page 209
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
33. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO 33. FINANCIAL RISK MANAGEMENT OBJECTIVE AND
KEUANGAN (lanjutan) POLICIES (continued)
Faktor-faktor risiko keuangan (lanjutan) Financial risk factors (continued)
b. Risiko kredit (lanjutan) b. Credit risk (continued)
Tabel di bawah merinci kualitas kredit aset keuangan The table below details the credit quality of the Group’s
Grup serta eksposur maksimum risiko kredit menurut financial assets as well as maximum exposure to credit
peringkat risiko kredit: (lanjutan) risk by credit risk rating grades: (continued)
2024
Peringkat Peringkat Jumlah
kredit kredit tercatat Jumlah
external/ internal/ bruto/ Cadangan tercatat
External Internal ECL 12 bulan atau sepanjang Gross kerugian/ neto/
credit credit umur/ carrying Loss Net carrying
rating rating 12-month or lifetime ECL amount allowance amount
Lancar/
Kas dan setara kas (Catatan 5) BBB Performing ECL 12 bulan/12-month ECL 2,329,491 - 2,329,491 Cash and cash equivalents (Note 5)
ECL sepanjang umur (pendekatan
sederhana)/ Lifetime ECL (simplified
approach)
Lancar/
Kas di bank dan deposito yang dibatasi BBB Performing ECL 12 bulan/12-month ECL 3,000 - 3,000 Restricted cash in bank
penggunaanya ECL sepanjang umur (pendekatan)/ and time deposits
Lifetime ECL (simplified approach)
Piutang usaha (Catatan 6) N/A (i) ECL sepanjang umur (pendekatan 1,463,048 (1,311) 1,461,737 Trade receivables (Note 6)
sederhana)/ Lifetime ECL (simplified
approach)
Lancar/
Piutang lain-lain (Catatan 8) N/A Performing ECL sepanjang umur (pendekatan 128,703 - 128,703 Other receivables (Note 8)
sederhana)/ Lifetime ECL (simplified
approach)
BBB/Baa2 Lancar/
Investasi jangka pendek (Catatan 10) Performing ECL 12 bulan/12-month ECL 2,952,900 - 2,952,900 Short-term investments (Note 10)
Jumlah 6,877,142 (1,311) 6,875,831 Total
(i) Untuk piutang usaha, Grup telah menerapkan (i) For trade receivables, the Group has applied the
pendekatan yang disederhanakan dalam PSAK simplified approach in PSAK 109 to measure the
109 untuk mengukur cadangan kerugian ECL loss allowance at lifetime ECL. The Group
sepanjang umur. Grup menentukan kerugian determines the expected credit losses on these
kredit ekspektasian atas pos-pos ini dengan items by using a provision matrix, estimated
based on historical credit loss experience based
menggunakan matriks provisi, yang diestimasi
on the past due status of the debtors, adjusted
berdasarkan pengalaman kerugian kredit as appropriate to reflect current conditions and
historis berdasarkan status jatuh tempo debitur, estimates of future economic conditions.
disesuaikan untuk mencerminkan kondisi saat Accordingly, the credit risk profile of these
ini dan estimasi kondisi ekonomik masa depan. assets is presented based on their past due
Oleh karena itu, profil risiko kredit dari aset status in terms of the provision matrix. Notes 6
tersebut disajikan berdasarkan status include further details on the loss allowance for
tunggakannya dalam matriks provisi. Catatan 6 these assets.
mencakup rincian lebih lanjut atas cadangan
kerugian aset tersebut.
c. Risiko likuiditas c. Liquidity risk
Risiko likuiditas adalah risiko bahwa Grup akan Liquidity risk is the risk that the Group will have
mengalami kesulitan dalam membayar liabilitas difficulties in paying its financial liabilities. The Group
keuangannya. Grup mengelola risiko likuiditas manages its liquidity risk by maintaining an adequate
dengan mempertahankan kas dan setara kas yang level of cash and cash equivalents to cover its short-
cukup dalam memenuhi kebutuhan kas jangka term cash requirement. The Group also evaluates the
pendeknya. Grup juga secara rutin mengevaluasi projected and actual cash flows regularly, as well as
proyeksi arus kas dan arus kas aktual, serta jadwal the maturity date schedule of its financial assets and
tanggal jatuh tempo aset dan liabilitas keuangan. liabilities.
93
Page 210
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
33. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO 33. FINANCIAL RISK MANAGEMENT OBJECTIVE AND
KEUANGAN (lanjutan) POLICIES (continued)
Faktor-faktor risiko keuangan (lanjutan) Financial risk factors (continued)
c. Risiko likuiditas (lanjutan) c. Liquidity risk (continued)
Tabel di bawah merupakan analisis jatuh tempo The following table analysis the Group’s financial
liabilitas keuangan Grup dalam rentang waktu yang liabilities by relevant maturity groupings based on their
menunjukkan jatuh tempo kontraktual untuk semua contractual maturities for an understanding of the timing
liabilitas keuangan untuk pemahaman terhadap arus of the cash flows. The amounts disclosed in the table are
kas. Jumlah yang diungkapkan dalam tabel adalah arus the contractual undiscounted cash flows (including
kas kontraktual yang tidak terdiskonto (termasuk principal and interest payments).
pembayaran pokok dan bunga).
Di bawah Lebih dari
satu tahun/ 1-5 tahun/ 5 tahun/More Jumlah/
Below one year years than 5 years Total
31 Desember 2025 December 31, 2025
Pinjaman bank Short-term
jangka pendek 7,335 - - 7,335 bank loans
Utang usaha 784,207 - - 784,207 Trade payables
Utang lain-lain 30,579 - - 30,579 Other payables
Beban akrual 293,400 - - 293,400 Accrued expenses
Liabilitas sewa 65,648 9,695 17,572 92,915 Lease liabilities
Jumlah 1,181,169 9,695 17,572 1,208,436 Total
Di bawah Lebih dari
satu tahun/ 1-5 tahun/ 5 tahun/More Jumlah/
Below one year years than 5 years Total
31 Desember 2024 December 31, 2024
Pinjaman bank Short-term
jangka pendek 9,360 - - 9,360 bank loans
Utang usaha 787,701 - - 787,701 Trade payables
Utang lain-lain 24,623 - - 24,623 Other payables
Beban akrual 252,661 - - 252,661 Accrued expenses
Uang jaminan pelanggan 3,000 - - 3,000 Customers guarantee
Liabilitas sewa 66,112 14,767 18,604 99,483 Lease liabilities
Jumlah 1,143,457 14,767 18,604 1,176,828 Total
94
Page 211
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
33. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO 33. FINANCIAL RISK MANAGEMENT OBJECTIVE AND
KEUANGAN (lanjutan) POLICIES (continued)
Nilai Wajar Instrumen Keuangan Fair Value of Financial Instruments
Nilai tercatat dan taksiran nilai wajar dari instrumen The fair values of the financial assets and liabilities are the
keuangan Grup yang dicatat di laporan posisi keuangan carrying values and the estimated fair values of the Group
konsolidasian tanggal 31 Desember 2025 dan 2024, financial instruments that are carried in the consolidated
adalah sebagai berikut: statements of financial position as of December 31, 2025
and 2024, are as follows:
2025 2024
Nilai Tercatat/ Nilai Wajar/ Nilai Tercatat/ Nilai Wajar/
Carrying Value Fair Values Carrying Value Fair Values
Aset Keuangan Financial Assets
Kas dan setara kas 1,654,810 1,654,810 2,329,491 2,329,491 Cash and cash equivalents
Kas di bank dan deposito berjangka Restricted cash in bank
yang dibatasi penggunaannya - - 3,000 3,000 and time deposits
Investasi jangka pendek 2,570,080 2,570,080 2,952,900 2,952,900 Short-term investments
Piutang usaha 1,630,263 1,630,263 1,461,737 1,461,737 Trade receivables
Piutang lain-lain 153,073 153,073 128,703 128,703 Other receivables
Investasi jangka panjang 371,958 371,958 - - Long-term investments
Jumlah Aset Keuangan 6,380,184 6,380,184 6,875,831 6,875,831 Total Financial Assets
Liabilitas Keuangan Financial Liabilities
Pinjaman bank jangka pendek 7,187 7,187 9,189 9,189 Short-term bank loans
Utang usaha 784,207 784,207 787,701 787,701 Trade payables
Utang lain-lain 30,579 30,579 24,623 24,623 Other payables
Beban akrual 293,400 293,400 252,661 252,661 Accrued expenses
Uang jaminan pelanggan - - 3,000 3,000 Customer guarantee
Liabilitas sewa 79,021 79,021 84,193 84,193 Lease liabilities
Jumlah Liabilitas Keuangan 1,194,394 1,194,394 1,161,367 1,161,367 Total Financial Liabilities
Nilai wajar aset dan liabilitas keuangan ditentukan The fair values of the financial assets and liabilities are
berdasarkan jumlah dimana instrumen tersebut dapat determined based on the amount at which the instrument
dipertukarkan dalam transaksi kini antara pihak-pihak yang could be exchanged in a current transaction between willing
berkeinginan (willing parties) dan bukan merupakan parties, other than in a forced sale or liquidation.
pendapatan yang dipaksakan atau likuidasi.
Instrumen keuangan yang disajikan di dalam laporan Financial instruments presented in the consolidated
posisi keuangan konsolidasian dicatat sebesar nilai wajar, statements of financial position are carried at fair values,
atau disajikan dalam jumlah tercatat baik karena jumlah otherwise, they are presented at carrying amounts as either
tersebut adalah kurang lebih sebesar nilai wajarnya atau these are reasonable approximation of fair values or their
karena nilai wajarnya tidak dapat diukur secara andal. fair values cannot be measured reliably.
Metode dan asumsi berikut ini digunakan untuk The following methods and assumptions were used to
mengestimasi nilai wajar untuk setiap kelompok instrumen estimate the fair value of each class of financial instrument
keuangan yang praktis untuk memperkirakan nilai for which it is practicable to estimate such value.
tersebut.
Nilai tercatat dari kas dan setara kas, kas di bank dan The carrying value of cash and cash equivalents, restricted
deposito berjangka yang dibatasi penggunaannya, cash in bank and time deposits, time deposit, trade
deposito berjangka, piutang usaha, piutang lain-lain, receivables, other receivables, short-term bank loans, trade
pinjaman bank jangka pendek, utang usaha, utang lain- payables, other payables, accrued expenses and customer
lain, beban akrual dan uang jaminan pelanggan mendekati guarantee approximate their fair values due to their short-
nilai wajarnya karena bersifat jangka pendek. term nature.
Investasi pada surat utang negara dan reksa dana Investment in government bonds and mutual funds
merupakan aset Grup yang nilai wajarnya didasarkan represent the Group’s assets for which the fair value is
pada kuotasi harga pasar terakhir (Level 1). stated based on the last quoted market prices (Level 1).
95
Page 212
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
33. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO 33. FINANCIAL RISK MANAGEMENT OBJECTIVE AND
KEUANGAN (lanjutan) POLICIES (continued)
Nilai Wajar Instrumen Keuangan (lanjutan) Fair Value of Financial Instruments (continued)
Investasi pada surat utang jangka panjang merupakan Long-term debt investment represent the Group’s assets for
aset Grup yang nilai wajarnya dinilai menggunakan which the fair value are determined by discounting cash
diskonto arus kas berdasarkan tingkat suku bunga efektif. flows at effective interest rate.
Investasi saham jangka panjang yang tidak Long-term investment in shares which are not traded in the
diperdagangkan di pasar aktif diestimasi dengan active market is estimated using appropriate valuation
menggunakan teknik penilaian yang wajar dengan nilai techniques with unobservable inputs (Level 3).
input yang tidak dapat diobservasi (Level 3).
Nilai wajar atas liabilitas sewa dinilai menggunakan The fair value of lease liabilities are determined by
diskonto arus kas berdasarkan tingkat suku bunga efektif. discounting cash flows at effective interest rate.
34. TAMBAHAN INFORMASI ARUS KAS 34. SUPPLEMENTARY CASH FLOW INFORMATION
a. Aktivitas non-kas a. Non-cash activities
Aktivitas non-kas yang mendukung laporan arus kas Non-cash activities supporting the statement of cash
pada setiap tanggal pelaporan adalah sebagai flows at each reporting dates are as follows:
berikut:
2025 2024
Penambahan aset hak-guna Addition of right-of-use assets
melalui liabilitas sewa 64,918 82,261 through lease liabilities
Penambahan aset tetap melalui Addition of fixed assets through
reklasifikasi uang muka reclassification advance for
pembelian aset tetap 69,222 87,142 purchases of fixed assets
b. Rekonsiliasi utang neto b. Net debt reconciliation
Pinjaman bank
jangka pendek/
Short-term Liabilitas sewa/ Jumlah/
bank loans Lease liabilities Total
Saldo Balance of
1 Januari 2024 5,222 (26,690 ) (21,468 ) January 1, 2024
Arus kas 3,967 24,758 28,725 Cash flows
Tambahan liabilitas sewa - (82,261 ) (82,261 ) Addition of lease liabilities
Saldo Balance of
31 Desember 2024 9,189 (84,193 ) (75,004 ) December 31, 2024
Arus kas (2,002 ) 70,090 68,088 Cash flows
Tambahan liabilitas sewa - (64,918 ) (64,918 ) Addition of lease liabilities
Saldo Balance of
31 Desember 2025 7,187 (79,021 ) (71,834 ) December 31, 2025
96
Page 213
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
34. TAMBAHAN INFORMASI ARUS KAS (lanjutan) 34. SUPPLEMENTARY CASH FLOW INFORMATION
(continued)
c. Pengaturan pembiayaan pemasok c. Supplier finance arrangements
Grup mengoperasikan pengaturan pembiayaan The Group operates the following types of supplier
pemasok sebagai berikut dengan PT Bank DBS finance arrangements with PT Bank DBS Indonesia:
Indonesia:
• Untuk memastikan akses mudah ke kredit untuk • In order to ensure easy access to credit for its
pemasoknya dan memfasilitasi penyelesaian suppliers and facilitate early settlement, the Group
awal, Grup telah melakukan pengaturan has entered into supplier finance arrangements
pembiayaan pemasok yang memungkinkan that permit the suppliers to obtain payment from
pemasok untuk mendapatkan pembayaran dari the banks for the amounts billed maximum up to
bank untuk jumlah yang ditagih maksimum 90 days before the invoice due date. The
hingga 90 hari sebelum tanggal jatuh tempo arrangements permit the banks to early settle
faktur. Pengaturan memungkinkan bank untuk invoices of up to Rp 300,000 per month. The
melunasi faktur lebih awal hingga Rp 300.000 per Group repays the banks the full invoice amount on
bulan. Grup membayar bank jumlah faktur penuh the scheduled payment date as required by the
pada tanggal pembayaran yang dijadwalkan invoice. As the arrangements do not permit the
seperti yang tertera dalam faktur. Karena Group to extend finance from the banks by paying
pengaturan tidak mengizinkan Grup untuk them later than the Group would have paid its
memperpanjang pembiayaan dari bank dengan suppliers, the Group considers amounts payable to
membayarnya lebih lambat dari Grup akan the banks should be presented as part of trade
membayar pemasoknya, Grup tersebut account payables. As of December 31, 2025, no
menganggap jumlah yang dibayarkan kepada trade payables were owed under these
bank disajikan sebagai bagian dari utang usaha. arrangements.
Pada tanggal 31 Desember 2025, tidak terdapat
utang usaha yang terutang berdasarkan
pengaturan ini.
2025 2024
Jumlah tercatat dari liabilitas Carrying amount of the
keuangan yang merupakan financial liabilities that are
subjek dari perjanjian subject to supplier finance
pembiayaan pemasok arrangement
Disajikan sebagai bagian dari Presented as part of
“utang usaha” - 75,906 “trade payables”
Rentang tanggal jatuh tempo Hari/Days Hari/Days Range of payment due dates
pembayaran (setelah tanggal (after invoice date)
faktur)
Untuk liabilitas yang disajikan For liabilities presented as part
sebagai bagian dari “utang usaha”: of “trade payables”:
Liabilitas yang merupakan bagian Liabilities that are part of
dari perjanjian pembiayaan supplier finance
pemasok - 60 arrangements
Utang usaha yang dapat
dibandingkan yang bukan
merupakan bagian dari Comparable trade payables
pengaturan pembiayaan that are not part of supplier
pemasok - 30 - 60 finance arrangement
97
Page 214
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
34. TAMBAHAN INFORMASI ARUS KAS (lanjutan) 34. SUPPLEMENTARY CASH FLOW INFORMATION
(continued)
c. Pengaturan pembiayaan pemasok (lanjutan) c. Supplier finance arrangements (continued)
Perubahan dalam liabilitas yang merupakan bagian Changes in liabilities that are subject to supplier
dari pengaturan pembiayaan pemasok terutama finance arrangements are primarily attributable to
disebabkan oleh pembelian barang dan penyelesaian additions resulting from purchases of goods and
kas. Tidak ada perubahan non-kas yang material subsequent cash settlements. There were no material
dalam liabilitas ini. non-cash changes in these liabilities.
Grup tidak menghadapi risiko likuiditas yang The Group does not face a significant liquidity risk as a
signifikan sebagai akibat dari pengaturan result of its supplier finance arrangements given the
pembiayaan pemasoknya mengingat jumlah liabilitas limited amount of liabilities subject to supplier finance
pada pengaturan pembiayaan pemasok yang arrangements and the Group’s access to other sources
terbatas dan akses Grup ke sumber pembiayaan lain of finance on similar terms.
dengan persyaratan serupa.
35. KOMITMEN 35. COMMITMENTS
Pengeluaran modal yang telah diperjanjikan pada tanggal Capital expenditure contracted as of December 31, 2025
31 Desember 2025 dan 2024 namun belum diakui sebagai and 2024 but not yet recognised as liabilities amounted to
kewajiban masing-masing sebesar Rp 477.326 dan Rp 477,326 and Rp 61,743, respectively.
Rp 61.743.
36. INFORMASI SEGMEN 36. SEGMENT INFORMATION
Manajemen telah menentukan segmen operasi Management has determined the operating segments
berdasarkan laporan yang ditelaah oleh Direksi, yang telah based on the reports reviewed by the Directors, who has
diidentifikasikan sebagai pengambil keputusan operasional been identified as the Group’s chief operating decision
utama Grup (”CODM”) dan yang mengambil keputusan maker (“CODM”) and made strategic decisions. The Group
strategis. Grup menentukan segmen operasi menurut determines the operating segment by group of products.
kelompok produk yang dijual.
Informasi segmen yang diberikan kepada Direksi untuk The segment information provided to the Directors for the
segmen dilaporkan adalah sebagai berikut: reportable segments is as follows:
2025
Solusi Barang
arsitektur/ dagangan/
Architectural Trading Jumlah/
solution goods Total
Penjualan neto 6,291,901 1,831,784 8,123,685 Net revenues
Beban pokok penjualan (3,042,484) (1,502,945) (4,545,429) Cost of goods sold
Laba bruto 3,249,417 328,839 3,578,256 Gross profit
Beban usaha Operating expenses
Beban penjualan - - (1,378,266) Selling expenses
Beban umum General and administrative
dan administrasi - - (277,680) expenses
Jumlah Beban Usaha - - (1,655,946) Total Operating Expenses
Laba usaha 1,922,310 Operating profit
98
Page 215
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
36. INFORMASI SEGMEN (lanjutan) 36. SEGMENT INFORMATION (continued)
Informasi segmen yang diberikan kepada Direksi untuk The segment information provided to the Directors for the
segmen dilaporkan adalah sebagai berikut: (lanjutan) reportable segments is as follows: (continued)
2025
Solusi Barang
arsitektur/ dagangan/
Architectural Trading Jumlah/
solution goods Total
Penghasilan (beban) lain-lain Other income (expenses)
Pendapatan keuangan - - 239,934 Finance income
Beban keuangan - - (2,526) Finance costs
Bagian atas laba neto - - 582 Share in net profit of
ventura bersama a joint venture
Keuntungan (kerugian) neto
penurunan nilai aset Net impairment gains (losses)
keuangan - - (1,549) on financial assets
Pendapatan lain-lain - neto - - 17,065 Other income - net
Laba sebelum beban - - 2,175,816 Profit before income
pajak penghasilan tax expense
Beban pajak penghasilan - - (431,796) Income Tax expense
Laba tahun berjalan - - 1,744,020 Profit for the year
Informasi segmen lainnya Other segment information
Belanja modal yang tidak Unallocated
dapat dialokasikan - - 483,772 capital expenditures
Beban depresiasi dan Unallocated
amortisasi yang tidak depreciation and
dapat dialokasikan - - 272,583 amortisation expenses
Aset dan liabilitas Assets and liabilities
Aset yang tidak dapat dialokasikan - - 11,084,379 Unallocated assets
Aset Grup - - 11,084,379 The Group’s Assets
Liabilitas yang tidak dapat
dialokasikan - - 1,544,155 Unallocated liabilities
Liabilitas Grup - - 1,544,155 The Group’s Liabilities
2024
Solusi Barang
arsitektur/ dagangan/
Architectural Trading Jumlah/
solution goods Total
Penjualan neto 5,847,703 1,623,653 7,471,356 Net revenues
Beban pokok penjualan (2,852,891) (1,277,715) (4,130,606) Cost of goods sold
Laba bruto 2,994,812 345,938 3,340,750 Gross profit
Beban usaha Operating expenses
Beban penjualan - - (1,318,417) Selling expenses
Beban umum General and administrative
dan administrasi - - (253,243) expenses
Jumlah Beban Usaha - - (1,571,660) Total Operating Expenses
Laba usaha 1,769,090 Operating profit
99
Page 216
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
36. INFORMASI SEGMEN (lanjutan) 36. SEGMENT INFORMATION (continued)
Informasi segmen yang diberikan kepada Direksi untuk The segment information provided to the Directors for the
segmen dilaporkan adalah sebagai berikut: (lanjutan) reportable segments is as follows: (continued)
2024
Solusi Barang
arsitektur/ dagangan/
Architectural Trading Jumlah/
solution goods Total
Penghasilan (beban) lain-lain Other income (expenses)
Pendapatan keuangan - - 285,105 Finance income
Beban keuangan - - (2,539) Finance costs
Bagian atas laba - - Share of profit of
ventura bersama 2,678 a joint venture
Keuntungan (kerugian) neto
penurunan nilai aset Net impairment gains (losses)
keuangan - - 158 on financial assets
Pendapatan lain-lain - neto - - 14,102 Other income - net
Laba sebelum Profit before income
pajak penghasilan - - 2,068,594 tax expense
Beban pajak penghasilan - - (404,895) Income tax expense
Laba tahun berjalan - - 1,663,699 Income for the year
Informasi segmen lainnya Other segment information
Belanja modal yang tidak Unallocated
dapat dialokasikan - - 406,551 capital expenditures
Beban depresiasi dan Unallocated
amortisasi yang tidak depreciation and
dapat dialokasikan - - 251,137 amortisation expenses
Aset dan liabilitas Assets and liabilities
Aset yang tidak dapat dialokasikan - - 11,060,975 Unallocated assets
Aset Grup - - 11,060,975 The Group’s Assets
Liabilitas yang tidak dapat
dialokasikan - - 1,429,095 Unallocated liabilities
Liabilitas Grup - - 1,429,095 The Group’s Liabilities
SEGMEN GEOGRAFIS GEOGRAPHICAL SEGMENT
2025 2024
Penjualan neto Net revenues
Lokal 8,123,685 7,471,356 Local
Manajemen memonitor hasil dari kegiatan segmen Management monitors the operating results of its
dilaporkan secara terpisah dengan tujuan untuk reportable segments separately for the purpose of making
mengambil keputusan mengenai alokasi atas sumber decisions about resource allocation and performance
daya dan penilaian kinerja. Kinerja segmen dievaluasi assessment. Segment performance is evaluated based on
berdasarkan laba bruto. Beban penjualan, beban umum gross margin. The Group’s selling expenses, general and
dan administrasi, beban dan penghasilan keuangan, administrative expenses, finance income and costs, other
penghasilan (beban) lain-lain, neto, bagian dari laba (rugi) income (expenses), net, share in profit (loss) of a joint
ventura bersama dan pajak penghasilan Grup tidak venture and income taxes are not included in the measure
termasuk dalam ukuran laba rugi yang dilaporkan kepada of profit or loss that is reported to the CODM and therefore
CODM sehingga tidak dialokasikan pada segmen dil are not allocated to the reportable segments.
aporkan.
100
Page 217
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2025 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2025
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
37. KEJADIAN SETELAH PERIODE PELAPORAN 37. SUBSEQUENT EVENTS AFTER REPORTING PERIOD
Pembelian saham treasuri Purchase of treasury shares
Sampai dengan tanggal laporan keuangan konsolidasian Up to the issuance date of these consolidated financial
ini diterbitkan, Perusahaan telah melakukan pembelian statements, the Company repurchased 119,313,000 shares
kembali 119.313.000 lembar saham biasa Perusahaan of its own ordinary shares through purchases on the IDX
melalui pembelian pada BEI (Catatan 1b). Pembelian (Note 1b). This repurchase transaction is intended to
kembali saham Perusahaan ini ditujukan untuk menjaga stabilise the Company’s share price. The total amounts paid
stabilitas harga saham Perusahaan. Jumlah pembayaran to acquire the shares were Rp 58,048 (Rp 428 -
untuk mengakuisisi saham tersebut adalah sebesar Rp 525/share - full amount).
Rp 58.048 (Rp 428 - Rp 525/lembar saham - nilai penuh).
101
Page 218
Names mentioned 162 people and organisations named in the text · linked when the evidence is strong
unresolved
org
Financial Services Authority
p.2 ×2
unresolved
org
PT Dextone Lemindo On
p.9
unresolved
org
PT Dextone Lemindo
p.9 ×3
unresolved
org
Chempack Product Intertek Certification Limited
p.13
unresolved
org
LRQA Limited
p.13 ×7
unresolved
org
Ministry of Industry
p.13 ×2
unresolved
org
LRQA Limited LRQA Group Limited
p.13 ×2
unresolved
org
LRQA Group Limited
p.13 ×2
unresolved
org
Menteri Perindustrian
p.14
unresolved
org
Ministry of Kode HS
p.14
unresolved
org
Kementerian Perindustrian
p.14
unresolved
org
Bank Indonesia
p.17 ×2
unresolved
person
Oscar Christian Maria Jozef Wezenbeek
· Independent Commissioner
p.19 ×3
unresolved
—
driving innovation in low-carbon and low-Volatile Organic
· In closing this report, we would like to express our gratitude to all Avian Brands employees for the dedication, professionalism,
p.22
unresolved
—
Compound (VOC) formulations. Avian Brands actively listens
· and commitment demonstrated in fulfilling every role and responsibility. Concrete contributions of all individuals are
p.22
unresolved
—
to customer feedback, enhances quality standards,
· the primary force that enables Avian Brands to keep growing, innovating, and maintaining sustainable performance.
p.22
unresolved
org
Avian Brands focuses on increasing energy efficiency, wiser
· Board of Directors have served as a key foundation for maintaining governance discipline, ensuring accurate decision-making,
p.22
unresolved
org
management of water and raw materials, and strengthening
· and sustaining the implementation of Avian Brands’ strategies amid evolving business environment dynamics.
p.22
unresolved
org
that includes renewable energy, more measurable emissions
· customers, business partners, suppliers, and regulators, for the excellent cooperation established. With the support of all
p.22
unresolved
org
management, and the development of low-carbon products.
· parties, the Board of Directors is optimistic that Avian Brands can step into the future in a stronger, more competitive, and
p.22
unresolved
—
inclusion; and enhances occupational health and safety.
· Wijono Tanoko
p.22
unresolved
—
Competence development through continuous training
· President Director
p.22
unresolved
org
Indonesia Archipelago Investment Pte Ltd
p.24
unresolved
org
Indonesia Stock Exchange
p.24 ×2
unresolved
person
Indrawati Setiabudhi
· Notaris
p.24 ×2
unresolved
org
Ministry of Justice
p.24
unresolved
org
Ministry of Law
p.24
unresolved
org
PT Bangun Bersama Solusindo
p.25 ×11
unresolved
org
PT Cipta Mortar Utama
p.25
unresolved
person
Soetikno
p.25
unresolved
org
PT Tirtakencana Batamindo
p.25 ×9
unresolved
org
PT Multipro Paint Indonesia
p.25 ×5
unresolved
org
PT Tirtakencana Tatawarna
p.25 ×16
unresolved
person
Robert Christian Tanoko Exchange
· Director
p.25 ×30
unresolved
org
PT Tirtakencana Tatawarna. Mr. Soetikno Tanoko’s
p.25
unresolved
person
Soetikno Tanoko’s
p.25 ×5
unresolved
org
Pte Ltd
p.25 ×3
unresolved
org
Archipelago Pte Ltd.
p.25
unresolved
org
PT Bira Industri Rejeki Agung
p.25
unresolved
org
PT Walt Disney Indonesia
p.25
unresolved
org
PT Tirtakencana
p.26 ×3
unresolved
person
Robert
p.26
unresolved
org
PT Solusi Rumah Praktis
p.26 ×6
unresolved
org
Minister of Manpower
p.26
unresolved
org
PT Multipro Paint Indonesia. Brilliant Cat Tembok Interior
p.26
unresolved
org
Ministry of Avian Glue Epoxy Hemat
p.26
unresolved
org
PT Tirtakencana Tatawarna. This
p.29
unresolved
org
Ministry of Manpower
p.31
unresolved
org
Pengurus ARSI
p.33
unresolved
org
Pengurus Asosiasi Resin Sintetik Indonesia Ketua Umum
p.33
unresolved
org
PT Caturkarda Depo
p.34
unresolved
org
Dual Appointments Bangunan Tbk
p.34
unresolved
org
PT Multipro Paint
p.34
unresolved
person
Anwar
· Notaris
p.34 ×10
unresolved
org
PT Solusi Rumah Praktis Educational Background
p.34
unresolved
org
Sejahtera Raya Tbk
p.34
unresolved
org
PT Champ Resto Certifications Certifications
p.34
unresolved
org
PT Tancorp Global Sentosa
p.34 ×2
unresolved
org
Indonesia Tbk
p.34
unresolved
org
PT Sillo Maritim Master
p.34
unresolved
org
Perdana Tbk
p.34
unresolved
org
Indonesia Money Printing Corporation
p.34
unresolved
org
Ministry of Finance
p.34 ×2
unresolved
org
PT Jaya Sukses Makmur
p.34
unresolved
org
PT Tancorp
p.34 ×2
unresolved
org
Financial Institutions Sentosa Tbk
p.34
unresolved
org
Avian Tbk
p.34
unresolved
org
PT Avia Avian Industri
p.34
unresolved
org
Ristia Bintang Mahkota Sejati Tbk
p.34 ×2
unresolved
org
Shanghai Co., Ltd.
p.35
unresolved
org
Individual Owner. Paint Ltd.
p.35
unresolved
org
AkzoNobel Paints Pte Ltd.
p.35
unresolved
org
PT ICI
p.35
unresolved
org
Paints Indonesia Ltd.
p.35
unresolved
org
Pakistan Ltd.
p.35
unresolved
org
India Ltd.
p.35
unresolved
org
AkzoNobel Vietnam Ltd.
p.35
unresolved
person
Vice
· President Director
p.36 ×2
unresolved
org
PT Avia Avian Industri Term
p.36
unresolved
org
PT Bangun Bersama
p.36
unresolved
org
PT Multipro Paint Indonesia Shareholders
p.36
unresolved
—
Gresik Regency. Mr. Ruslan Tanoko
· Vice President Director
p.36 ×28
unresolved
org
PT Wahana Lancar
p.36
unresolved
org
PT Avia Avian Industri Pipa
p.36 ×9
unresolved
org
PT Tancorp Surya
p.38
unresolved
org
PT Wahana Lancar Term
p.38
unresolved
person
Pritesh Vinodkumar Pate
p.38
unresolved
org
PT Tiga Arga
p.38
unresolved
org
PT Nipsea Paint
p.38
unresolved
org
Archipelago Investment Private Limited
p.38 ×3
unresolved
org
PT Sensasi
p.39 ×3
unresolved
org
PT Asiapasifik
p.39
unresolved
org
PT Jaya
p.39
unresolved
org
PT Vista
· Commissioner
p.39
unresolved
org
PT Rukun
p.39
unresolved
person
Tjijen
· Commissioner
p.39
unresolved
org
PT Sinar Surya
p.39
unresolved
org
PT Marco Indirectly
p.39
unresolved
org
PT Tancorp Kurnia Hadi
p.39
unresolved
org
PT Wira Laju
p.39
unresolved
org
PT Voka
p.39
unresolved
—
Sinanto
· Rejeki
p.39
unresolved
org
PT Wahana
p.39
unresolved
—
Tanoko
· Tanoko
p.39
unresolved
org
PT Tancorp Surya Sentosa. Meanwhile
p.39
unresolved
org
Foreign Corporation
p.39
unresolved
person
Akta Notaris Liestiani Wang
· Notaris
p.125 ×2
unresolved
org
Minister of Law and Human Rights
p.125
unresolved
org
Menteri Hukum dan Hak Asasi Manusia Republik
p.125
unresolved
org
PT Tirta Kencana Tatawarna
p.127
unresolved
org
PT TKTW
p.127 ×3
unresolved
org
PT SRP
p.127
unresolved
org
PT MPI
p.127
unresolved
org
PT TKBI
p.127
unresolved
person
Oscar Christian Maria Josef
· Komisaris Independen
p.127
unresolved
org
PT CMN Indonesia
p.173 ×2
unresolved
org
PT Megadepo
p.173
unresolved
org
PT Mitra Mulia
p.173
unresolved
org
PT Panca
p.173
unresolved
org
PT Sarana Depo
p.173
unresolved
org
PT Wahana Lentera
p.173
unresolved
org
PT Megadepo Indonesia
p.173 ×4
unresolved
org
PT Bangun Bersama Solusindo Lain-lain
p.173 ×3
unresolved
org
PT Wahana Lentera Raya
p.173 ×6
unresolved
org
PT Avia Avian Industri Pipa Lain-lain
p.175
unresolved
org
PT Mitra Mulia Makmur
p.175 ×2
unresolved
org
PT Kencana Lintasindo Internasional
p.175 ×2
unresolved
org
PT Panca Kalsiumindo Perkasa
p.175 ×2
unresolved
org
PT CMN Indonesia Lain-lain
p.175
unresolved
org
Directorate General of Direktorat Jenderal Pajak
p.198
unresolved
org
PT Wahana Lancar Rejeki Archipelago Investment
p.198 ×2
unresolved
org
Private Limited
p.198 ×3
unresolved
—
Rudi Tanoko
p.198 ×2
unresolved
—
Rony Tanoko
p.198 ×2
unresolved
—
kepemilikan di bawah 5%)
p.198 ×2
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