ANALISIS KINERJA KEUANGAN PT. TELEKOMUNIKASI INDONESIA, Tbk & PT. XL AXIATA, Tbk

Abstract

Financial performance is a management level gauges success in managing the financial
resources of the company. Approaches using Economic Value Added (EVA) in this study were
based that this approach is very good for measuring performance (management) company because
the company is able to describe the efficiency of a given period. While the approach using Market
Value Added (MVA) based on, that MVA was able to describe how much wealth can be created by
the company management to investors and companies.
This study aimed to measure the financial performance. PT. Telkom and PT. XL in period
2009 until 2011 using the approach of Economic Value Added (EVA) and Market Value Added
(MVA). From the results obtained that EVA and MVA PT. Telkom is positive.
In 2009 & 2011 PT. XL has a negative EVA, this means that the company management is
not successful to raise the economic value on the company over its operations. In 2010 PT. XL has a
positive EVA, this means that the management company has succeeded in giving economic value to
the company over its operations. PT. XL has a positive value of MVA, MVA value in 2009. The
positive MVA value means that the management has been able to increase shareholder wealth.