Analisis Perbandingan Kinerja Keuangan Bumn Sebelum Dan Sesudah Privatisasi Pada Pt. Semen Baturaja Tbk

Along with the demands of today's business world, every company must be able to compete with other competitors in doing business by making a business excellence. Currently the privatization of SOEs has become one of the solutions for SOE companies to achieve the company's goal of increasing the possibility of higher incentive profit, efficient, and consumer oriented. One of the SOEs that have been privatized is PT. Semen Baturaja Tbk on 23 June 2013. This study aims to see whether there is a significant change in the occurrence of privatization of SOEs to the financial performance of PT. Semen Baturaja Tbk. Assessment of soundness of SOEs using guidelines in accordance with the decision of the Minister of SOEs. KEP-100 / MBU / 2002 using research method to calculate profitability ratios (return on equity and return on investment), cash ratio and current ratio, activity period (collection periods, inventory turnover, total turnover assets), and solvability ratio (Total equity to total assets). The results of the calculation of financial performance showed a decrease in the level of performance of financial statements of PT. Semen Baturaja after privatization. The scores obtained by the company prior to privatization were 64.5 points while at the time after privatization fell to 51 points. Keywords: BUMN privatization, financial performance, PT. Semen Baturaja Tb