Analisis kinerja produksi dan finansial Pabrik Minyak Kayu Putih "Krai" Perum Perhutani KPH Gundih

WIRASANTI, Divya Nor, Dr.Ir. Dwidjono Hadi Darwanto, MS

2006 | Tesis | Magister Manajemen Agribisnis

Kayu putih merupakan salah satu tanaman hutan yang dapat ditingkatkan nilai tambahnya melalui proses agroindustri karena dapat menghasilkan minyak kayu putih. Sampai saat ini, prospek pengembangan industri minyak kayu putih di Indonesia masih sangat terbuka. Untuk itulah, Perum Perhutani KPH Gundih mendirikan pabrik minyak kayu putih ‘Krai’. Secara umum, tujuan dari penelitian ini adalah mengetahui kinerja produksi pabrik minyak kayu putih ‘Krai’, mengetahui kelayakan investasi usaha pabrik minyak kayu putih ‘Krai’ ditinjau dari kinerja finansialnya, serta mengetahui kepekaan investasi usaha pabrik minyak kayu putih ‘Krai’ terhadap perubahan biaya operasional dan penerimaan. Teknik pelaksanaan penelitian ini menggunakan teknik studi kasus dengan cara melakukan pengamatan, pencatatan, analisis dan penilaian terhadap kinerja produksi dan finansial perusahaan. Pengolahan data dilakukan dalam rangka mengevaluasi kegiatan perusahaan selama 5 tahun ke belakang (tahun 2001- 2005). Metode analisis yang digunakan adalah metode analisis kualitatif dan kuantitatif dengan mengoperasikan persamaan-persamaan dalam rumus perhitungan Net Present Value (NPV), Net Benefit Cost Ratio (Net B/C), dan Internal Rate of Return (IRR). Berdasarkan analisis terhadap kinerja produksinya, diketahui bahwa rata-rata kinerja produksi pabrik minyak kayu putih ‘Krai’ berjalan kurang sempurna, meskipun minyak kayu putih yang dihasilkan berkualitas baik. Berdasarkan analisis terhadap kinerja finansialnya, diketahui bahwa usaha penyulingan pabrik minyak kayu putih ‘Krai’ menguntungkan dan dinilai layak untuk dilanjutkan, bahkan dikembangkan. Berdasarkan hasil analisis sensitivitas, diketahui bahwa investasi pada pabrik minyak kayu putih ‘Krai’ tidak peka terhadap kenaikan biaya operasional sebesar 30% dan penurunan penerimaan sebesar 20%. Akan tetapi, pabrik minyak kayu putih ‘Krai’ mulai peka jika terjadi kenaikan biaya operasional sebesar 134% dan penurunan penerimaan sebesar 43%.

The eucalyptus tree is one of the forest plants whose added values can be improved through an agro industry process because the tree can produce eucalyptus oil. Up to now, the prospect of the development of the eucalyptus oil industry in Indonesia is still widely open. Therefore, Perum Perhutani KPH Gundih established the ‘Krai’ eucalyptus oil factory. In general, the study aims to investigate the production performance of the ‘Krai’ eucalyptus oil factory, to find out the investment feasibility of the ‘Krai’ eucalyptus oil factory in terms of its financial performance, and reveal the sensitivity of the business investment of the ‘Krai’ eucalyptus oil factory to changes in operational costs and revenues. The study employed a case study technique through observations, field notes, analysis, and evaluation of the factory’s production and financial performance. The data were analyzed to evaluate activities carried out by the factory during the past 5 years (2001 – 2005). The analysis methods were qualitative and quantitative analysis methods by operating equations in the formulas of Net Present Value (NPV), Net Benefit Cost Ratio (Net B/C), and Internal Rate of Return (IRR). On the basis of the analysis on the production performance, the average production performance of the ‘Krai’ eucalyptus oil factory is not satisfactory yet, although the factory produces eucalyptus oil of good quality. Based on the analysis on the financial performance, the ‘Krai’ eucalyptus oil refinery factory gives benefits and is feasible to develop. On the basis of the sensitivity analysis, the investment of the ‘Krai’ eucalyptus oil factory is not sensitive to increases in operational costs as much as 30 % and a drop in revenue as much as 20 %. However, the ‘Krai’ eucalyptus oil factory begins to be sensitive when the operational costs increase as much as 134 % and there is a drop in revenue as much as 43 %.

Kata Kunci : Kinerja Produksi dan Keuangan,Pabrik Minyak Kayu Putih, eucalyptus oil, production performance, financial performance