Analysis of Financial Performance in Restructuring of PT Indonesia Asahan Aluminium (PERSERO) to Mining Industry Holding Company Using the Economic Added Value Approach

Abstract

In order to increase the value of the company of the State-Owned Enterprises (BUMN) in the mining sector, one of the strategies undertaken by the company is to restructure through the establishment of a holding company. Several state-owned companies consisting of PT Indonesia Asahan Aluminum (Persero), PT Aneka Tambang, Tbk., PT Bukit Asam, Tbk., and PT Timah Indonesia, Tbk. have established a Mining Industry BUMN Holding Company. It is expected that with the establishment of the holding companies related to finance can increase. One way to obtain company performance is to get a value from an approach using EVA. EVA can be used to asses company health by showing how the value is created by the company. EVA can also find out whether the company has used its capital well or not. Keywords—financial performance, holding, restructuration, Economic Value Added (EVA)