ANALISIS KINERJA KEUANGAN PT SEMEN INDONESIA TBK PASCA MENGAKUISISI PT HOLCIM INDONESIA TBK

Buananta, Renaldy Dwi Hartanto (2022) ANALISIS KINERJA KEUANGAN PT SEMEN INDONESIA TBK PASCA MENGAKUISISI PT HOLCIM INDONESIA TBK. KTTA thesis, Politeknik Keuangan Negara STAN.

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Abstract

ABSTRAK Pada era globalisasi saat ini persaingan dunia usaha semakin ketat. Hal ini membuat banyak perusahaan harus memikirkan strategi supaya tetap bertahan dan bersaing untuk mewujudkan tujuan perusahaan semakin berkembang. Salah satunya adalah PT Semen Indonesia Tbk yang berkeinginan untuk mempertahankan market leader di industri semen Indonesia. Dalam rangka mewujudkan hal itu PT Semen Indonesia Tbk melakukan akuisisi terhadap PT Holcim Indonesia Tbk. Penelitian ini bertujuan untuk mengetahui kinerja keuangan PT Semen Indonesia Tbk pasca akuisisi PT Holcim Indonesia Tbk. Kinerja keuangan perusahaan diukur dengan menggunakan rasio likuiditas (rasio lancar dan rasio cepat), rasio profitabilitas (marjin EBITDA, Return on Asset, dan Return on Equity) sera rasio solvabilitas (liabilitas terhadap aset, liabilitas terhadap ekuitas, dan rasio cakupan bunga). Metode penelitian yang digunakan dalam penelitian ini adalah metode kuantitatif deskriptif dengan data yang berasal dari data sekuder yaitu laporan keuangan PT Semen Indonesia Tbk. Hasil yang didapat dari penelitian ini adalah penurunan kinerja dalam hal likuiditas, profitabilitas, dan solvabilitas. Kata kunci: Akuisisi, Pengukuran Kinerja, Rasio Keuangan. Abstract In the current era of globalization competition in the business world is getting tighter. This makes many companies have to think about strategies in order to survive and compete to realize the company’s to grow. One of them is PT Semen Indonesia Tbk which wants to maintain the market leader in the Indonesian cement industry. In order to achieve PT Semen Indonesia Tbk acquired PT Holcim Indonesia Tbk. This study aims to determine the financial performance of PT Semen Indonesia Tbk after the acquisition of PT Holcim Indonesia Tbk. The company’s financial performance is measured using liquidity ratios (current ratio and quick ratio), profitability ratios (EBITDA margin, Return on Assets, and Return on Equity) and solvency ratios (debt to asset, debt to equity, and times interest earned). The research method used in this study is descriptive quantitative method with data derrived from secondary dara, namely the financial statements of PT Semen Indonesia Tbk. The results obtained from this study is a decrease in performance in terms of liquidity, profitability, and solvency. Keywords: Acquisition, Performance Measurement, Financial Ratio.

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