jasa marga update fy2018
TRANSCRIPT
Jasa Marga UpdateFY2018
As of Jan 31th, 2019
Company Overview
Company overview
Brief Snapshot Company Highlights
3Q2018 Segmental Revenue Breakdown
• Leading toll road operator in Indonesia with 40 years of experience
• 33 toll road concessions with total length of 1,527 km
• 70% owned by the Government of Indonesia
• Publically listed on the Indonesia Stock Exchange since 2007, with a market cap IDR 33 trillion as of Dec 31st, 2018
• Key business
– Construction, operation and maintenance of toll road
• Supporting business / other business
– Toll Road Operation Services (Provides operation services for Jasa Marga Group and other toll road investors)
– Toll Road Maintenance Services (Provides maintenance services for Jasa Marga Group and other toll road investor)
– Property (Manages rest areas and other properties on toll road corridors)
✓ Largest toll road operator in Indonesia with 65% market share in terms of commercial toll roads lengths (±1.000 km) and 80% market share of toll road transaction volume
✓ The longest concession period holder in Asia reflecting stable income
✓ Strategically important with strong government ownership
✓ Resilient industry with strong government focus
✓ Strong financial profile with promising growth going forward
Vision & Mission
Vision To be the largest, trusted and sustainable national toll road network company.
Mission
1. Lead the development of toll road networks in Indonesia to increase national connectivity.
2. Manage the toll road business along the end-to-end value chain in a professional and sustainable manner.
3. Maximize the regional development to accelerate community advancement and increase company profitability.
4. Enhance customer satisfaction through service excellence
3
Toll Revenue –Jasa Marga
(13 old concessions in balance sheet)
80%
Toll Revenue –Subsidiaries
13%
Other Business Revenue
7%
Company Key Development Milestone
4
✓Government offered the opportunitiesfor the private sector to participate intoll road business through Build,Operate and Transfer (BOT) systemwith Jasa Marga.
✓Jakarta Toll roads operated by JasaMarga initiated its operationsgradually.
The authority function was returnedto the Government, Toll RoadRegulatory Agency (BPJT) under theMinistry of Public Works.
Jasa Marga became a publiccompany through an Initial PublicOffering (IPO) and listed its shareson the Indonesia Stock Exchange.
✓Jasa Marga was established with focuson business management, maintenanceand procurement of the toll roadnetwork.
✓Jagorawi as the first toll road inIndonesia began its operation.
Implementation ofe-Toll Card.
Implementation ofe-Toll Pass.
Forming of PT JasaLayanan Operasi (non toll road subsidiary.
✓Fully implemented electronicpayment system in all toll roads
✓Integrate Jakarta-Tangerang andchange system in Jagorawi TollRoad
✓Won tender of Jakarta-Cikampek IISelatan and Probolinggo-Banyuwangi Toll Road
1978 1987 2004 2007
2009 2012 2015 2017 2018
Currently operating 24 tollroad concessions (±1,000km in length)
Company Structure
Shareholding Structure
Jasa Marga operates 13 mature toll roads, 3 fully operated and 7 half operated new toll roads. Similarly, Jasa Marga constructs 10 new tollroad concessions in subsidiary level.
1. Cawang-Tomang-Pluit(Jakarta Inner Ring Road)
2. Prof. Dr. Ir. Sedyatmo (Airport)3. Padalarang4. Cileunyi5. Jakarta-Cikampek6. Palikanci7. Jagorawi8. Surabaya-Gempol9. Semarang10. Jakarta Outer Ring Road11. Ulujami-Pondok Aren12. Jakarta-Tangerang13. Belmera
Parent Level
5
Government
of Indonesia(“GOI”)
Ministry of State-
Owned Enterprises
(“MSOE”)
70%
Public30%
PT Jasamarga
Gempol Pasuruan
98.8%
PT Jasamarga
Pandaan Malang
60%
PT Jasamarga
Probolinggo
Banyuwangi
94.6%
PT Jasamarga
Balikpapan
Samarinda
59%
PT Jasamarga
Kunciran
Cengkareng
76.2%
PT Jasamarga
Tollroad Operator
99.9%
PT Jasamarga
Properti
99.9%
PT Jasamarga
Transjawa Tol
100%
As of 31st Dec 2018
Strong Corporate Governance and Highly Qualified Management Team
6
Experience management with over 25 years of experience, deep understanding on the industry/sector, and long-term relationship with stakeholders
Desi Arryani – President Director• Indonesia citizen, 55 years old, was promoted through Extraordinary Meeting of Shareholders Years 2016 on 29th august 2016• Has work experience in Construction sector more than 20 years. Previously served as Operations Director I of PT Waskita Karya (Persero) Tbk. which is SOE
contractor in Indonesia.• Completed her Bachelor degree in Civil Engineering from University of Indonesia (1987) and Master degree in Management from Prasetiya Mulya (2008).
Donny Arsal – Director of Finance• Indonesia citizen, 48 years old, was promoted through Meeting of Shareholders Years 2017 on 15th March 2017• Has work experience in Financial sector more than 23 years. Previously served as Managing Director PT Mandiri Sekuritas that look after for Investment Banking
Division.• Completed Bachelor Degree from University of Indonesia (1994).
Mohammad Sofyan – Operational Director I• Indonesia citizen, 47 years old, was promoted through Meeting of Shareholders Years 2017 on 15th March 2017• Joined Jasa Marga since 1997 and has lead in various sector such us toll road project, IT and strategic corporate planning. Previously served as Corporate
Secretary PT Jasa Marga (Persero) Tbk.• Completed Bachelor Degree in Civil Transportation Engineering at Sepuluh November Institute of Technology Surabaya (1996) and Master Degree in Project
Management from University of Indonesia (2003) and Master Business & IT from Melbourne University (2007).
Subakti Syukur – Operational Director II• Indonesia citizen, 56 years old, was promoted through Extraordinary Meeting of Shareholders Years 2016 on 29th august 2016• Joined Jasa Marga since 1986 and has work experience in toll road operations more than 20 years. Previously served as President Director of PT Marga Lingkar
Jakarta (one of Jasa Marga’s Subsidiary).• Completed Bachelor Degree in Civil Engineering from Bandung Institute of Technology (1986) and Master degree in Management from University of Kristen
Indonesia (2010).
Adrian Priohutomo – Director of Development• Indonesia citizen, 55 years old, was promoted through Meeting of Shareholders Years 2018 on 10th April 2018• Has work experience and major success in conceptualizing, developing and managing commercial and housing estates. Previously served as President Director of
PT Permata Graha Nusantara.• Completed Bachelor Degree at Bandung Institute of Technology (1988).
Alex Denni – Director Of Human Resources And General Affairs• Indonesia citizen, 49 years old, was promoted through Extraordinary Meeting of Shareholders Years 2018 on 5th September 2018• Has work experience in Human Resource Development. Previously served as Chief Human Capital Officer PT Bank Negara Indonesia (Persero) Tbk. and Chief
Learning Office & Head of Corporation University PT Bank Mandiri (Persero) Tbk.• Completed Bachelor Degree in Management of Industrial Agro at Intitut Pertanian Bogor (1990) and Master Degree in Management at Universitas Atma Jaya
(1997) dan Doctoral Degree in Human Capital at Institut Pertanian Bogor (2011).
Industry Overview
Overview of the authorities involved
Ministry of Public Works
Government of Indonesia
Directorate General of highways
Indonesian Toll Road Authority
(BPJT)
Ministry of State Owned Enterprises
Private toll road investors
Concession agreement Concession agreement
Toll Tariff
• Initial toll tariff is calculated based on
• investment feasibility, toll road user’s ability to pay and vehicle operating cost saving
• Initial toll tariff is stipulated in concession agreement prior to start of construction
• Tariff adjustment is regulated by law, is calculated based on regional CPI and is adjusted once every 2 years
• Initial toll tariff setup and subsequent adjustment is decided by Minister of Public Works decree
The ministry may postpone tariff increases if a toll road fails to comply with minimum service standards
Land acquisition
• Land acquisition is government’s responsibility and is undertaken by land procurement committee appointed by the Government
• The land acquisition comprises four stages: planning, preparation, execution and delivery
The law also regulates a deadline for land acquisition of 312 to a maximum of 552 working days
• Price is determined by independent appraiser based on fair market price
• Investors may provide bridge financing for land acquisition costs to speed up the acquisition process, government will repay the investors for the land acquisition costs
Overview of the Indonesian Toll Regulation
Tender Acquisition Unsolicited
Concession Agreement Method
Ease derived from highly regulated industry• Certainty of tariff increase every two years according to regulation• The timing of the land acquisition process is faster, if any dispute is decided by the court• Potential for efficiency from cashless transaction
100% Cashless Transaction
▪ High efficiency on collection expanse and faster transaction period that will reduce traffic flow, minimize the cost of providing change and cash handling and Toll Revenue Security and minimize the potential for any authenticity toll payment instrument
▪ Improving the Quality of Operational Human Resources (improving health quality of toll collectors), increase transaction capacity without having to add transaction point and efficiency of toll collecting costs
10
9
Company Update
Jasa Marga Update FY2018
10
Market Share
66%Jasa Marga’s
Operated Toll Road
80%Jasa Marga’s
Traffic Volume
Operated Toll Road
1,527 km
PT Jasa Marga (Persero) Tbk
66%
PT Astra Tol Nusantara
16%
PT Citra Marga Nusaphala Persada
4%
PT Waskita Karya10%
PT Nusantara Infrastruktur2%
Lain-lain2% ± 1,000 km
*As of December 2018
318 km
Commercial Concession Toll Road
No Additional Operated Toll Road in 2018Length(km)
1234567
Ngawi – KertosonoBogor Ring Road (Section IIB)Gempol – Pasuruan (Section Rembang-Grati)Medan - Kualanamu - Tebing Tinggi (Section IA & I)Solo – NgawiSemarang-BatangSemarang-Solo (Section Salatiga-Kertasura)
87.022.65
20.2510.7590.4375.0032.23
Accumulated Toll Road in Operation*
Additional Operated Toll Road in 2018
Other
Excellent Financial Profile with Stable Margins
Note : figures 2017 audited, 3Q2017 and 3Q2018 Unaudited
✓ Prudent financial management enable company to lower its cost of debt over time✓ Strong financial profile with promising growth going forward✓ Sustainable revenue growth rate with CAGR of 9% for the past 5 years, supported with strong EBITDA
generation✓ Manageable cost of debt with weighted average bank loan cost 9.5%, weighted average bond cost 9.2% and
consolidated weighted average cost of debt 9.4%
Interest Coverage Ratio (ICR)
Total Asset Revenue
Total Debt to Total Equity Interest Bearing Debt to Total Equity
(x)(x)(x)
(IDR Billion)(IDR Billion)
11
4.46
2.88
3Q2017 3Q2018
3.32
3.01
2017 3Q2018
79,313.3
75,504.1
2017 3Q2018
6,782.3 7,130.4
3Q2017 3Q2018
1.93
1.64
2017 3Q2018
859 880
916 957
1,092 1,201 1,264
1,320 1,311
1,361 1,350
2,618 3,319 3,631
4,306 4,843
5,582 5,803
6,646 7,121
7,927 8,281
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
-
200
400
600
800
1,000
1,200
1,400
1,600
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017Transaction Volume Toll Revenue
Integration
434
607
486
765
894
1,116
1,229 1,208
1,013 1,063 1,080
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
✓ Consistent growth in traffic demonstrates resilience of toll road industry
✓ Since 2016, Jasa Marga started to implement integration system in Jakarta – Cikampek, Cikampek – Palimanan, Palimanan – Kanci, Kanci –Pejagan, Pejagan – Brebes. In 2017, integration system also accure in Jagorawi and Jakarta – Tangerang toll road.
✓ Integration system caused different calculation in transaction volume and elimination of several toll gates.
✓ Robust estimated growth in car sales indicate batter economic growth is a positive driver for the toll road industry
Well Positioned In A Resilient Industry With Favorable Growth Trends
12
Economic condition, reflected as fluctuating car sales growth in Indonesia, has minimal impact to our transactionvolume, however increase in car sales will contribute to higher transaction volumes in the long run.
Economic Slow Down
Source: http://www.gaikindo.or.id (2)Source: Jasa MargaNote:(1)Economic slow down in 2015;(2)GAIKINDO: Gabungan Industri Kendaraan Bermotor Indonesia (The Association of Indonesian Automotive Industries).
Transaction Volume on Jasa Marga Toll Road (in million) Car Sales in Indonesia (in thousand vehicles)
Projects and
Operational Details
14
Bank Loan at Subsidiary Level
70%
Equity30%
Jasa Marga’s Toll Road Projects
Currently, Government accelerate infrastructure development to connect Indonesia. All of Jasa Marga’s toll road projects are part of StrategicNational Project that being monitored intensively by Government.
3,1962,123 2,521
7,382
11,691
2013 2014 2015 2016 2017
Funding Structure
Historical Capex
Section Concession PeriodLength
(km)
Percentage of JasaMarga’s Ownership
(%)
Old Concession
13 Old Concession 2044 512.1
A. Fully Operated
1 Nusa Dua-Ngurah Rai-Benoa 2057 10 55
2 JORR W2 North (part of JORR) 2044 7.7 65
3 Surabaya-Mojokerto (part of Trans Java) 2049 36.3 55.5
4 Solo-Ngawi (part of Trans Java) 2055 90.43 40
5 Semarang-Solo (part of Trans Java) 2055 72.6 58.9
6 Gempol-Pasuruan (part of Trans Java) 2058 34.2 98.8
7 Batang-Semarang (part of Trans Java) 2058 75 40
B. Half Operated
8 Gempol-Pandaan 2049 13.6 92.2
9 Bogor Outer Ring Road 2054 11.95 55
10 Medan-Kualanamu-Tebing Tinggi 2054 61.7 55
11Ngawi-Kertosono-Kediri (part of Trans Java)
2066 114.92 40
C. In Land Acquisition and Construction
12 JORR2 (Cengkareng-Kunciran) 35 years from effective date 14.2 76.2
13 JORR2 (Kunciran-Serpong) 35 years from effective date 11.2 60
14 JORR2 (Serpong-Cinere) 35 years from effective date 10.1 55
15 Pandaan-Malang 35 years from effective date 37.6 60
16 Balikpapan-Samarinda 40 years from effective date 99.4 59
17 Manado-Bitung 40 years from effective date 39.9 65
18 Jakarta-Cikampek II Elevated 45 years from effective date 36.4 80
19 Jakarta-Cikampek II South 35 years from effective date 64 80
20 Probolinggo-Banyuwangi 35 years from effective date 172.9 94.8
TOTAL 1.527
Bogor Outer Ring Road (BORR) (11 km)(Section 2B Kd, Badak – Yasmin)Progress Land Acquisition: 100%
Progress Construction: 100%
Cengkareng – Kunciran (14.19 km)Progress Land Acquisition: 58.51%
Progress Construction: 43.67%
Kunciran – Serpong (11.19 km)Progress Land Acquisition: 98.70%
Progress Construction: 84.14%
Serpong – Cinere (10.14 km)Progress Land Acquisition: 79.23%
Progress Construction: 49.39%
Jakarta Cikampek II Elevated (36.40 km)Progress Construction: 63.45%
Half Operated
In Land Acquisition and Construction
6 projects
*As of 18th Jan 2019
Jasa Marga’s Upcoming Projects: Greater Jakarta
15
Jakarta-Cikampek II Selatan (64 km)
Semarang-Batang (75 km)Progress Construction: 100%Progress Land Acquisition : 90.12%
Semarang – Solo(73 km)Progress Construction (Salatiga-Kartasuro): 100%Progress Land Acquisition (Salatiga-Kartasuro): 100%
Solo – Ngawi (90.43 km)Progress Construction : 100%Progress Land Acquisition: 100%
Ngawi – Kertosono - Kediri (114.92 km)Progress Construction (Wilangan-Kertosono): 100%Progress Land Acquisition((Wilangan-Kertosono): 100%
Gempol – Pandaan (12 km)
Gempol – Pasuruan (34.2 km)Progress Construction(Pasuruan-Grati): 100%Progress Land Acquisition(Pasuruan-Grati): 100%
Pandaan – Malang (38.49 km)Progress Construction: 80.00%Progress Land Acquisition : 93.10%
Half Operated
In Land Acquisition and Construction
8 projects
Jasa Marga’s Upcoming Projects: Java
16
*As of 18th Jan 2019
Probolinggo-Banyuwangi (172.91 km)
Full Operated
Medan-Kualanamu-Tebing Tinggi (61.7 km)Progress Land Acquisition: 99.98%Progress Construction: 100%
SUMATRA
KALIMANTAN
Balikpapan-Samarinda (99.35 km)Progress Land Acquisition: 99.18%Progress Construction: 80.89%
SULAWESI
MALUKU
Manado-Bitung (39.9 km)Progress Land Acquisition: 70.44%Progress Construction: 31.72%
3 projects
Half Operated
In Land Acquisition and Construction
Jasa Marga’s Upcoming Projects: Sumatera, Kalimantan, and Sulawesi
17
*As of 18th Jan 2019
Appendix
Financial Highlight: Balance Sheet
19
(IDR Billion)
2013 2014 2015 2016 2017 3Q2017 3Q2018 ∆Rp ∆%
Restated Restated (Audited) (Audited) (Audited) (Unaudited) (Unaudited)
(Audited) (Audited)
Cash and Cash Equivalent 3,514.1 3,290.8 3,323.2 4,124.9 6,873.0 6,873.0 3,834.9 2,748.1 -44.2%
Other Current Assets 274.2 255.0 405.8 8,840 12,114.0 12,114.0 11,398.5 3,273.9 -5.9%
Non Current Assets 24,270.3 28,314.2 32,995.9 40,535.3 60,326.2 60,326.2 60,270.7 19,790.9 -0.1%
TOTAL ASSETS 28,058.6 31,860.0 36,725.0 53,500.3 79,313.3 79,313.3 75,504.1 25,812.9 -4.8%
Current Liabilities 4,871.3 4,301.0 7,543.4 18,627.0 24,997.9 24,997.9 27,512.0 6,371.0 10.1%
Non Current Liabilities 12,629.3 16,538.2 16,612.5 18,534.5 35,955.9 35,955.9 29,143.0 17,421.4 -18.9%
TOTAL LIABILITIES 17,500.6 20,839.2 24,356.3 37,161.5 60,953.8 60,953.8 56,655.0 23,792.3 -7.1%
Equity 10,557.9 11,020.7 12,368.7 16,338.8 18,359.4 18,359.4 18,849.1 2,020.6 2.7%
TOTAL LIABILITIES AND
EQUITY28,058.6 31,860.0 36,725.0 53,500.3 79,313.3 79,313.3 75,504.1 25,812.9 -4.8%
20
Financial Highlight: Income Statement(IDR Billion)
Stable Revenue growth with steady EBITDA to maintain stable net income growth during expansion
Consolidated Financial Statement
2013 2014 2015 2016 2017 3Q2017 3Q2018 ∆Rp ∆%
Restated Restated (Audited) (Audited) (Audited) (Unaudited) (Unaudited) (YoY) (YoY)
(Audited) (Audited)
Toll Revenue 5,802.7 6,646.4 7,121.0 7,926.7 8,281.3 6,064.2 6,636.1 571.8 9.4%
Other Business Revenue 508.2 581.4 509.7 905.7 640.4 718.1 494.4 (223.8) -31.2%
REVENUE 6,310.9 7,227.8 7,630.7 8,832.3 8,921.7 6,782.3 7,130.4 348.1 5.1%
Toll and Other Operating Expenses (3,231.3)(3,562.8) (3,562.8)
(4,022.9) (3,772.1) (3,079.8) (3,033.2) 46.6 -1.5%
General and Administrative Expenses (1,087.8)(884.8) (884.8)
(949.0) (1,152.5) (784.7) (928.7) (144.0) 18.4%
Financial Income 229.1 265.5 217.8 202.7 284.0 196.0 381.9 185.9 94.9%
Gain on Divestment - - - - 563.5 563.5 876.9 313.4 N/A
Other Expenses (33.5)(20.3) (29.8)
(99.0) (363.0) (117.7) (380.2) (262.5) 223.0%
Tax expense of Financial Income - - 43.6 (40.6) (47.6) (35.5) (35.9) (0.4) 1.1%
Other Income 22.7 22.0 98.7 195.0 55.9 22.5 55.9 33.4 148.1%
OPERATING INCOME 2,259.2 3,072.7 3,477.7 4,165.5 4,648.1 3,634.9 4,205.8 570.9 15.7%
Operating Income Margin 35.8% 42.5% 45.6% 47.2% 52.1% 53.6% 59.0% N/A 5.4%
EBITDA 3,398.5 4,006.8 4,285.0 5,228.5 5,481.0 3,888.8 4,467.1 578.4 14.9%
EBITDA Margin 53.9% 55.4% 56.2% 59.2% 61.4% 57.3% 62.6% N/A 5.3%
Finance Cost (944.2)(1,215.3) (1,405.0)
(1,509.0) (1,268.9) (896.0) (1,487.0) (591.0) 66.0%
Share in Net Loss of Associates (4.3)(4.3) (4.3)
(6.8) (128.8) (78.0) (214.8) (136.8) 175.3%
INCOME BEFORE TAX 1,310.6 1,850.7 2,068.3 2,649.7 3,250.5 2,660.9 2,504.0 -156.9 -5.9%
Income Tax Expense (381.9)(613.7) (749.1)
(846.6) (1,156.8) (819.4) (825.7) (6.3) 0.8%
NET INCOME 1,027.7 1,421.7 1,466.4 1,889.3 2,200.3 1,902.1 1,771.3 -130.8 -6.9%
Net Income Margin 16.3% 19.7% 19.2% 21.4% 24.7% 28.0% 24.8% N/A -3.2%
Toll Revenue by Branch/Subsidiary(IDR billion)
21
Notes : (1) Deconsolidated since 1H2017
Branch/Subsidiary 2013 2014 2015 2016 2017 3Q2017 3Q2018∆%
3Q17 vs. 3Q18
CAGR
2013-2017
1 Jagorawi 548.2 607.5 620.2 697.0 874.0 496.6 602.2 21.3% 12.4%
2 Jakarta-Cikampek 976.6 1,023.4 1,137.8 1,232.5 1,265.7 959.3 864.9 -9.8% 6.7%
3 Jakarta-Tangerang 408.0 467.1 507.5 580.7 755.7 543.6 627.7 15.5% 16.7%
4 Cawang-Tomang-Cengkareng 1,110.0 1,212.3 1,247.0 1,412.7 1,475 1,112.2 1,146.4 3.1% 7.4%
5 Purbaleunyi 1,017.4 1,175.9 1,197.5 1,350.6 1,299.0 967.2 1,029.2 6.4% 6.3%
6 Surabaya-Gempol 270.5 309.0 335.8 402.0 418.6 312.1 328.0 5.1% 11.5%
7 Semarang 104.8 106.5 113.2 136.6 138.9 105.0 115.5 10.1% 7.3%
8 Belmera 81.6 91.3 90.2 105.5 113.7 84.5 113.4 34.1% 8.7%
9 Palikanci 107.5 112.4 133.0 169.5 181.2 136.2 148.7 9.2% 14.0%
10 PT Jalantol Lingkarluar Jakarta 1,055.0 1,182.4 1,163.7 1,010.2 1,024.8 802.2 746.8 -6.9% -0.7%
TOTAL PARENT LEVEL 5,679.5 6,288.0 6,545.9 7,097.3 7,546.9 5,518.9 5,722.8 3.7% 7.4%
11 PT Marga Sarana Jabar 45.6 67.2 86.9 100.2 98.7 74.4 94.1 26.5% 21.3%
12 PT Trans Marga Jateng(1) 36.5 107.3 129.5 152.8 57.7 57.7 - -100.0% 12.1%
12PT Jasamarga Surabaya
Mojokerto17.6 18.8 20.1 36.0 50.5 34.4 220.5 541.6% 30.3%
14 PT Jasamarga Bali Tol 23.7 106.1 122.7 143.3 149.9 119.9 125.3 4.5% 58.7%
15 PT Marga Lingkar Jakarta - 59.0 188.0 337.3 276.5 205.9 198.7 -3.5% n/a
16 PT Jasamarga Pandaan Tol - - 27.8 59.7 68.1 50.7 65.1 28.3% n/a
17 PT Jasamarga Gempol Pasuruan - - - - 8.6 2.3 43.0 1739.4% n/a
18 PT Jasamarga Kualanamu Tol - - - - 24.2 - 133.3 n/a n/a
19 PT Jasamarga Solo Ngawi - - - - - - 31.1 n/a n/a
20PT Jasamarga Ngawi Kertosono
Kediri- - - - - - 2.4 n/a n/a
TOTAL SUBSIDIARY LEVEL 123.3 358.4 575.1 829.3 734.3 545.3 913.3 67.5% 56.2%
TOTAL 5,802.7 6,646.4 7,121.0 7,926.6 8,281.2 6,064.2 6,636.1 9.4% 9.3%
Transaction Volume by Section(Million vehicle transactions)
22
Note : 1) The changes in the traffic pattern and the impact from the removal of toll gates cikopo because of integration in cluster 1 (Cikampek,Padaleunyi,Cipularang,Cikopo- Palimanan) in 20162) There is changes in traffic record as the impact of removal gate Plumbon 3, Plumbon 4, and Ciperna Utama because of integration in Cluster II (Palimanan-Kanci, Kanci-Pejagan, Pejagan-Brebes Timur) in 20163) Transaction system changes from closed system to open system and the impact of removal of cibubur utama toll gate in 20174) Transaction system changes from closed system to open system and the impact of removal of karang tengah toll gate in 20175) Transaction system changes from closed system to open system and the impact of removal of tembalang, manyaran, gayamsari toll gate in 20186) Deconsolidated from financial statement since July 9th 2018
No Branch/Subsidiary 2013 2014 2015 2016 2017 2018∆%
FY17 vs. FY18
CAGR 2014-
2018
1 Jagorawi 199.6 201.3 204.2 207.7 189.5 148.5 -21.6% -7.3%
2 Jakarta-Cikampek 202.2 206.1 215.0 221.7 205.5 181.6 -11.6% -3.1%
3 Jakarta-Tangerang 113.0 119.8 127.4 130.9 133.1 138.0 3.7% 3.6%
4 Cawang-Tomang-Cengkareng 283.1 282.8 284.7 294.9 300.8 296.9 -1.3% 1.2%
6 Purbaleunyi 63.9 66.4 66.3 67.5 68.8 69.7 1.3% 1.2%
8 Surabaya-Gempol 81.7 82.9 89.6 97.7 101.0 100.3 -0.7% 4.9%
9 Semarang 48.9 48.1 50.4 51.8 52.6 39.8 -24.4% -4.6%
10 Belmera 24.0 25.4 24.8 25.8 27.9 28.0 0.4% 2.5%
11 Palikanci 20.2 19.9 23.0 19.0 14.6 14.5 -0.6% -7.6%
12 JORR Non S 146.7 151.6 90.7 95.8 98.3 88.6 -9.8% -12.6%
13 Ulujami-Pondok Aren 46.9 45.1 43.7 46.1 47.5 34.9 -26.6% -6.2%
Total Parent 1,230.3 1,249.5 1,219.7 1,258.8 1,239.5 1,140.7 -7.97% -2.25%
14 PT Marga Sarana Jabar 12.5 13.7 15.3 16.5 15.8 16.4 3.9% 4.6%
15 PT Jasamarga Surabaya Mojokerto 11.3 12.1 13.0 15.4 17.1 24.5 42.9% 19.4%
17 PT Jasamarga Bali Tol 3.3 14.3 16.5 17.5 18.2 18.3 0.5% 6.3%
18 PT Marga Lingkar Jakarta - 14.5 24.7 26.9 30.5 29.6 -2.9% 19.56%
19 PT Jasamarga Pandaan Tol - - 2.8 5.8 7.2 11.0 52.7% n.a
20 PT Jasamarga Gempol Pasuruan - - - - 0.7 3.9 449.3% n.a
21 PT Jasamarga Kualanamu Tol - - - - 0.8 6.9 721.43% n.a
22 PT Jasamarga Ngawi Kertosono Kediri - - - - - 2.7 n.a n.a
23 PT Jasamarga Solo Ngawi - - - - - 3.4 n.a n.a
24 PT Trans Marga Jateng 6.6 15.6 18.7 20.5 19.7 13.5 -31.6% -3.49%
Total Subsidiary 33.6 54.5 72.4 82.0 110.1 130.2 18.2% 24.3%
TOTAL 1,263.9 1,304.0 1,292.1 1,340.8 1,349.66 1,270.94 -5.8% -0.6%
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Thank You
PT Jasa Marga (Persero) Tbk.Plaza Tol Taman Mini Indonesia Indah
Jakarta 13550 - IndonesiaPhone. +62 21-8413526, 8413630
Fax. +62 21-8401533, 8413540Email. [email protected]
www.jasamarga.com24