Jasa Marga Update
2Q 2017
List of Content
Company in Brief
3
Toll Road Industry in Indonesia
9
Jasa Marga’s Strategic Projects
12
Funding Strategy
18
Financial Highlights
22
2
1 2 4 6 7 8 9 10 11 12 13 14 16 17 18 19 19 20 31
Proven Track Record in Indonesian Toll Road Business
Leading toll road operator in Indonesia with 39 years of experience.
JORR W2 North (Section 1-4)(2) Semarang Padaleunyi Prof. Dr. Ir. Sedyatmo Cipularang Jakarta Outer Ring Road (JORR) Belmera Jagorawi Jakarta Inner Ring Road (JIRR)
(1) Jakarta-Cikampek Ulujami-Pondok Aren Semarang-Solo(2) Palikanci Start Operation Toll Road Concessions Number of Concessions Total Length (km) under Corresponding Concessions(3) Jakarta-Tangerang Surabaya-Gempol(4) Gempol-Pasuruan(2) (Section: Bagil-Rembang) BORR (Section 2 & 3)(2) 1.260 Cengkareng-Kunciran(2) Kunciran-Serpong(2) Surabaya-Mojokerto(2) Bogor Outer Ring Road BORR (Section 1)(2) Surabaya-Mojokerto (Section 1A)(2) Semarang-Solo (Section 1)(2) 1978 1983 1984 1986 1987 1988 1990 1991 1998 2001 2003 2009 2011 2013 2014 BORR (Section 2A)(2) 59 84 131 223 246 329 394 437 463 469 527 531 544 554 576 Nusa Dua-Ngurah Rai-Benoa(2) Solo-Ngawi(2) Ngawi-Kertosono(2) Cinere-Serpong(2) Medan-Kualanamu-Tebing Tinggi(2) 2015 Semarang-Solo (Section 2)(2) 590 Gempol-Pandaan(2) 2016 Surabaya-Mojokerto (Section 4)(2) 600 Semarang-Batang(2) Pandaan-Malang(2) Balikpapan-Samarinda(2) Manado-Bitung(2)
Note: (1) Jakarta Inner Ring Road (JIRR) is comprised of the Cawang-Tomang-Pluit concession granted to Jasa Marga and Cawang-Tanjung Priok-Pluit concession granted to CMNP. (2) Jasa Marga’s newly acquired toll road concessions.
(3) The cumulative length of road represents the current total road length that corresponds to key toll road concessions in this table, not to the year where the concession started. (4) Porong-Gempol Section (5 km) within Surabaya-Gempol Toll Road has officially been closed due to force majeure (mud) since 2006.
Jakarta-Cikampek II Elevated(2)
4
2017
Gempol-Pasuruan(2)
Asian Longest Toll Road Concessions
Granted all 13 concessions for operating toll roads for a 40-year period in 2005
(1).
Executed 45-year concessions for 3 new toll roads in 2006 (Bogor Outer Ring Road, Semarang-Solo and Gempol-Pasuruan);
35-year concessions for 2 new toll roads in 2008 and 2009 (Cengkareng-Kunciran and Kunciran Serpong); 42-35-year concessions for 1
acquired toll roads in 2009 (Surabaya-Mojokerto) and 37-year concessions in 2011 (Gempol-Pandaan); 45-year concessions for
1 new toll road in 2011 (Nusa Dua-Ngurah Rai-Benoa); 40-year concessions for 1 new toll road in 2014
(Medan-Kualanamu-Tebing Tinggi), 35-year concessions for 3 acquired toll roads in 2015 (Solo-Ngawi, Ngawi-Kertosono and Cinere-Serpong), 4 new
toll road in 2016 with 45-year concessions (Batang-Semarang and Jakarta-Cikampek II Elevated), 35-year concessions
(Pandaan-Malang) and 40-year concession (Balikpapan-Samarinda and Manado-Bitung).
Concession years remaining
Company Structure
Private Toll Road Investors
Government of Indonesia (“GOI”) Directorate General of Highways Ministry of State-Owned Enterprises (“MSOE”) Minister of Public Works
Indonesian Toll Road Authority (“BPJT”) Road Network Planning & Setting of Technical Specifications
Private Toll Road Investors Concession Agreement Concession Agreement Ministry of Public Works (“MPW”) 70% Ownership Public 30% Ownership Since 12 Nov 2007 Granting & Supervising Toll Road concessions Government 70% Foreign 16% Individual 5% Domestic Institution 5% Mutual Fund 4%
Regulatory Framework
Shareholding Structure
6
738 738 799
987
1,260
2012 2013 2014 2015 2016
Concession Rights (km)
607 km Toll Road in Operation*
Transactions volume
7
Market Shares
61% 80% Java Sea Timor Sea Strait of Malacca Banda Sea Indian Ocean SULAWESI PAPUA KALIMANTAN MALUKU SUMATRA CENTRAL JAVA
Semarang: 24.75 km
Semarang-Solo: 72.64 km
Solo-Ngawi: 90.1 km
Ngawi-Kertosono: 87.02 km
Semarang-Batang: 75 km EAST JAVA
Surabaya-Gempol: 49.00 km
Gempol-Pandaan: 13.61 km
Gempol-Pasuruan: 34.15 km
Surabaya-Mojokerto: 36.27 km
Pandaan-Malang: 37.62 km NORTH SUMATERA
Belmera: 42.70 km
Medan-Kualanamu-Tebing Tinggi: 61.70 kmGREATER JAKARTA & WEST JAVA
Jagorawi: 59.00 km
Jakarta-Tangerang: 33.00 km
Ulujami-Pondok Aren: 5.55 km
Jakarta Inner Ring Road: 23.55 km
Prof. Dr. Ir. Sedyatmo: 14.30 km
Jakarta-Cikampek: 83.00 km
JORR: 28.3 km
Cikampek-Padalarang: 58.50 km
Padalarang-Cileunyi: 64.40 km
Palikanci: 26.30 km
JORR W2 North: 7.70 km
Bogor Outer Ring Road: 11.00 km
Cengkareng-Kunciran: 14.19 km
Kunciran-Serpong: 11.19 km
Cinere-Serpong: 10.14 km
Jakarta-Cikampek II Elevated: 36.4 km JAVA BALI BALI
Nusa Dua-Ngurah Rai-Benoa: 10.00 km : in Operation : in land acquisition and construction EAST KALIMANTAN
Balikpapan-Samarinda: 99.35 km NORTH SULAWESI
Manado-Bitung: 39.9 kmThe Largest Toll Road Operator in Indonesia
18.2% 15.9% 15.7% 13.2% 8.6% C awan g-T o man g-C en gkar e n g Jakar ta-C ikamp e k Purbal eu n yi PT Jal an to l Li n gkar lu ar J akar ta Jag o rawi
Revenue
534
739
839
1,036
498
533
176
198
216
234
113.0
119
2013
2014
2015
2016
2Q2016
2Q2017
5,268
5,907
6,282
6,891
3,381
3,453
1,088
1,121
1,095
1,127
557.82
552
2013
2014
2015
2016
2Q2016 2Q2017
Transaction Volume and Toll Revenues
GREATER JAKARTA AND WEST JAVA
NON GREATER JAKARTA AND WEST JAVA
TOP 5 Contributor 2017
8
15.2%
15.8%
15.2%
7.1%
9.6%
Jak a rt a -Ci k a mpe k Jak a rt a In n e r Ri n g Ro a d Jago ra w i Jak a rt a Out e r Rin g Ro a d J a k a rt a -T a n g e ra n gTraffic
Toll Road Development Target in Indonesia
Government’s Priority Program
Indonesia population will be grow
rapidly
Car sales increase
No connectivity
Factor of Development
The new land acquisition law carries the following main points:
• Fair price is determined through independent appraisal.
• Land owner may choose to reject through court, yet court has to decide in 30 days (final).
• After transaction process (normal) or by court verdict, project can commence.
• Re-settlement is also an option. • The Government should carry out
socialization far in advance (transparent).
• BPN (National Land Agency) is the only body responsible for land acquisition for public interests.
Initial toll tariff is calculated based on investment feasibility, toll road user’s ability to pay and vehicle operating cost saving. Investment feasibility is calculated based on estimated investment cost and projected revenue during term of the concession.
Initial toll tariff is stipulated in concession agreement prior to start of construction.
Tariff adjustment is regulated by law, is calculated based on CPI and is adjusted once every two years.
Initial toll tariff setup and subsequent adjustment is decided by Minister of Public Works decree.Tariff
Land acquisition is Government’s responsibility, is undertaken by Land National Agency
Price is determined by independent appraiser based on fair market price.
For some projects, Government takes over the land cost.Regulation
Land Acquisition
Jasa Marga’s New Projects
as of 30 June 2017
Notes: (1) Section 1: Sentul-Kedung Halang (3.85 km) is operated since 23 November 2009; Section 2A: Kedung Halang-Kedung Badak (1.95 km) is operated since 04 June 2014.
(2) Section 1: Semarang-Ungaran (10.80 km) is operated since 17 November 2011; Section 2: Ungaran-Bawen (12.30 km) is operated since 04 April 2014. (3) Section 1A: Waru-Sepanjang (2.30 km) is operated since 05 September 2011, Section 4: Kriyan-Mojokerto is operated since 19 March 2016
(4) Operated since 01 October 2013.
(5) Section Kebon Jeruk-Cileduk (5.70 km) is operated since 04 January 2014; Section Cileduk-Ulujami (2.00 km) is operated since 22 July 2014. (6) Section Gempol-Pandaan (13.61 km) is operated since 12 June 2015.
(7) Gempol-Pasuruan: Section Bangil-Rembang (7 km) is operated since 13 April 2017.
Section Concession Period
Length Investment Cost JSMR Ownership
(%)
(km) (Rp trillion)
A. Fully Operated
1 Nusa Dua-Ngurah Rai-Benoa(4) 2057 10 2.01 55.0%
2 JORR W2 North (part of JORR)(5) 2044 7.7 2.01 65.0%
B. Half Operated
3 Gempol-Pandaan(6) 2049 13.61 1.31 92.2%
4 Bogor Outer Ring Road (1) 2054 11 4 55.0%
5 Semarang-Solo (part of Trans Java) (2) 2055 72.6 7.3 58.9%
6 Surabaya-Mojokerto (part of Trans Java) (3) 2049 36.3 4.03 55.0%
7 Gempol-Pasuruan(part of Trans Java)(7) 2058 34.15 4.17 98.8%
C. In Land Acquisition and Construction
8 JORR2 (Cengkareng-Kunciran) 35 years form effective date 14.19 4.98 76.2%
9 JORR2 (Kunciran-Serpong) 35 years form effective date 11.19 2.86 60.0%
10 Medan-Kualanamu-Tebing Tinggi 40 years form effective date 61.7 4.71 55.0%
11 Solo-Ngawi (part of Trans Java) 35 years form effective date 90.1 9.21 60.0%
12 Ngawi-Kertosono(part of Trans Java) 35 years form effective date 87.02 7.05 60.0%
13 JORR2 (Serpong-Cinere) 35 years form effective date 10.14 2.57 55.0%
14 Batang-Semarang (part of Trans Java) 45 years form effective date 75 11.04 60.0%
15 Pandaan-Malang 35 years form effective date 37.62 5.97 60.0%
16 Balikpapan-Samarinda 40 years form effective date 99.35 9.97 55.0%
17 Manado-Bitung 40 years form effective date 39.9 5.12 65.0%
18 Jakarta-Cikampek II Elevated 45 years form effective date 36.4 16.23 80.0%
TOTAL 747.97 104.54
Project Length Jasa Marga
Ownership Investment Cost Concession Period
Land Acquisition As of 30 June 2017
Construction As of 30 June 2017
Bogor Outer Ring Road 11 km 55% Rp 4.00 trillion 2054 Section 2B Kd. Badak-Yasmin: 95% 26.55 % Cinere-Serpong 10.14 km 55% Rp 2.57 trillion 35 years from effective
date 45.44 %
-Kunciran-Serpong 11.19 km 60% Rp 2.86 trillion 35 years from effective
date 86.08%
-Cengkareng-Kunciran 14.19 km 76.2% Rp 4.98 trillion 35 years from effective
date 28.68%
-Jakarta-Cikampek II Elevated 36.4 km 80% Rp 16.23 trillion 45 years from effective
date - 5.27 %
Toll Road Network and Jasa Marga’s Project in Greater Jakarta
Cinere-Serpong (10.14 km) Serpong-Kunciran (11.19 km) Kunciran-Serpong (10.14 km) BORR (11 km) Jakarta Cikampek II Elevated (36.4 km)
14
Toll Road Network and Jasa Marga’s Project in Java
Toll Road Network and Jasa Marga’s Project in Java
Project Length Jasa Marga Ownership
Investment
Cost Concession Period Section
Land Acquisition As of 30 June 2017 Construction As of 30 June 2017 Semarang-Batang 75 km 60% Rp 11.05 trillion 45 years from effective date
Section 1 Batang –Batang Timur (3.2 km) Section 2 Batang Timur-Weleri (36.35 km) Section 3 Weleri-Kendal (11.05 km) Section 4 Kendal-Kaliwungu (13.50 km) Section 5 Kaliwungu-Krapyak (10.9 km) Terbanggi Besar-Mesuji 100% 94.09% 78.15% 73.38% 83.61% -Section 1 & 2 27.22% Section 3 22.88 % Section 4 &5 36.86% -Semarang-Solo 72.64 km 73.91% Rp 7.3 trillion 2055 Section Bawen-Salatiga (17.5 km) Section Salatiga-Kartasuro (29.02km) 100%; 97.8% 100% 9.05% Solo-Ngawi 90.1 km 59.99% Rp 5.14 trillion 35 years from
effective date Section I : Solo-Mantingan (35.15 km) Section II : Mantingan - Ngawi (34.2 km)
91.74% 94.11% 78.25% 57.50% Ngawi-Kertosono 87.02 km 59.99% Rp 3.83 trillion 35 years from effective date
Section I : Ngawi - Magetan (20 km) Section II : Magetan - Madiun (8.45 km) Section III : Madiun - Saradan (21.06 km)
99.45% 100 % 99.51% 71.81% 73.21% 76.88% Surabaya-Mojokerto 36.3 km 55% Rp 3.8 trillion 2049
Section 1A: Waru-Sepanjang (2.3km) Section 1B: Sepanjang-WRR (4.3 km) Section 2: WRR-Driyorejo (5.1 km) Section 3: Driyorejo-Kriyan (6.1 km) Section 4: Krian-Mojokerto (18.5km) 100% 100% 100% 100% 100% 100% 89.72% 60.01% 66.45% 100% Pandaan-Malang 37.62 km 60% Rp 5.97 trillion 35 years from effective date
Section I : Purwodadi- Pandaan (14.92 km) Section II : Lawang-Purwodadi (8 km) Section III : Pakis I - Lawang (7.5 km) Section IV : Pakis II – Pakis I (4.10 km) Section V : Malang-Pakis II (3.10 km) 85.02% 78.23% 96.38% -41.66% Section I-V: 10.84% Gempol-Pasuruan 34.20 km 98.60% Rp 4.17 trillion 45 years from effective date Section1: Gempol-Rembang (13.9 km) Section 2A &2 B : Rembang-Pasuruan (6.6 km) Section 3: Pasuruan-Grati (13.65 km) 100% 98.80% 40.60% 98.75% 20.85%
-16
Toll Road Projects in Sumatera, Kalimantan and Sulawesi
Project Length Jasa Marga Investment Cost Concessio n Period Section Land Acquisition As of 31 June 2017 Construction As of 31 June 2017 Ownership Medan Kualanamu Tebing Tinggi 61.7 km 55% Rp 4.71 trillion 40 years from effective date • Tj.Morawa – Tj. Baru (3 km) • Parbarakan-Lubuk Pakam (4.85 km) • Lubuk Pakam-Adolina • Adolina-Perbaungan • Perbaungan-Teluk Mengkudu (9.57km) • Teluk Mengkudu-Sei Rampah (7.83km) • Sei Rampah-Tebing Tinggi (9.26km)
83.60% 100% 100% 94.06% 92.76% 94.00% 45.03%; 15.26% 100% 100% 100% 89.56% 88.90% - Balikpapan-Samarinda 99.35 km 55% Rp 9.97 trillion 40 years from effective date • Balikpapan-Samboja (22 km) • Samboja-Muarajawa (31 km) • Muarajawa-Palaran (17.3 km) • Palaran-Samarinda (18 km) • Sepinggan-Km 13 Balikpapan (11.1 km) 100% 99.61% 94.07% 86.71% 100% Section 2,3&4 : 18.53% Manado-Bitung 39.9 km 65% Rp 5.12 trillion 40 years from effective date
• Ring Road Manado-Sukur (7.9 km) • Sukur-Airmadidi (7 km) • Airmadidi-Bitung (25 km) 93% 56% 62% -Java Sea Strait of Malacca SULAWESI KALIMANTAN MALUKU SUMATRA NORTH SUMATERA
Medan-Kualanamu-Tebing Tinggi: 61.70 km EAST KALIMANTAN
Balikpapan-Samarinda: 99.35 km NORTH SULAWESI
Manado-Bitung: 39.9 km17
Capital Expenditure Plan 2017
(billion Rupiah)
No.
Item
2016
2017
Plan
1 Capex of Jasa Marga (Parent)
2,975.6
8,261.8
a. Operational
1,139.2
2,161.2
b. New Toll Road Development
1,287.8
4,375.1
c. Other Business Investments
416.5
1,486.6
d. Investments in Non-Operational Supporting Facilities
132.1
238.9
2 Capex of Subsidiaries
7,985.9
14,189.4
3 Capex of Subsidiaries for Other Business
243.8
1,15.2
4 Equity Contribution to Subsidiaries
(1,628.4)
(3,912.3)
Total Consolidated Capex
9,577.0
19,554.2
Financial Capacity
20
EBITDA & EBITDA Margin
ICR, DER
4.01 4.29 5.23 55% 56% 59% 53% 54% 55% 56% 57% 58% 59% 60% 1.00 2.00 3.00 4.00 5.00 6.00 2014 2015 2016
EBITDA
EBITDA Margin
3.30 3.05 3.44 1.89 1.97 2.27 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 2014 2015 2016
ICR
DER
2015* 2016 2Q 2017 11.18% 9.33% 9.39% 10.46% 9.66% 9.37% 10.90% 9.39% 9.38%Funding Strategy
• Planed to issue Bond/ Sukuk through
Sustainable Bond II (2017 – 2019) Rp 19.8
trillion (In 2017 -Trace I up to Rp7 Trillion)
• Planed to issue Project Bond in Operated
Subsidiaries
Project Bonds
• Divestment stock ownership in Kebon
Jeruk-Penjaringan Toll Road (PT Jakarta
Lingkar Barat Satu) up to 19,1%
• Divestment stock ownership in
Semarang-Solo Toll Road (PT Trans Marga Jateng) 15%
from 73,9% to 58,9%
Divestment
• Securitization from future revenue at
mature section Rp 2 trillion (tenor 5 years)
Securitization
• Jasa Marga establish Trans Java Sub holding
To simplify operational activity 14 toll road
owned by Jasa Marga & Waskita Toll Road
and planed to go public.
• Current Status : Valuation Study
Trans Java Sub holding
21
Asset Recycling
Debt Recycling
23
6,311 7,228 7,631 8,832 4,214 4,529 2013 2014 2015 2016 2Q2016 2Q2017Revenue
36% 43% 46% 47% 46% 53% 2013 2014 2015 2016 2Q2016 2Q2017Operating Margin
54% 55% 56% 59% 58% 58% 2013 2014 2015 2016 2Q2016 2Q2017EBITDA Margin
3,399 4,007 4,285 5,229 2,463 2,624 2013 2014 2015 2016 2Q2016 2Q2017EBITDA
508 581 510 906 335 543 2013 2014 2015 2016 2Q2016 2Q2017Other Business Revenue
5,803 6,646 7,121 7,926 3,879 3,986 2013 2014 2015 2016 2Q2016 2Q2017Toll Revenue
2,259 3,073 3,478 4,166 1,959 2,408 2013 2014 2015 2016 2Q2016 2Q2017Operating Income
(Rp Billion Rupiah)
Positive Growth
16% 20% 19% 21% 22.0% 22.4% 2013 2014 2015 2016 2Q2016 2Q2017Summary of Income Statements
(Billion Rupiah)
24
(FYE 31 Dec)
Y2013 Y2014 Y2015 Y2016 2Q2016 2Q2017 ∆Rp ∆% Restated Restated (Audited) (Audited) (Unaudited) (Unaudited) (YoY) (YoY)
(Audited) (Audited)
REVENUE 6,310.9 7,227.8 7,630.7 8,832.3 4,214.2 4,528.8 314.6 7.5%
Toll and Other Operating
Expenses (3,231.3) (3,562.8) (3,518.0) (4,022.9) (1,935.6) (2,104.5) (169.0) 8.7% General and Administrative
Expenses (1,087.8) (884.8) (893.3) (949.0) (443.4) (506.9) (63.5) 14.3%
Other Expenses (33.5) (20.3) (29.8) (99.0) (19.2) (75.3) (56.1) 291.4%
Others Income 254.7 287.9 272.9 357.1 126.9 511.4 384.5 302.9%
OPERATING INCOME 2,259.2 3,072.7 3,477.7 4,165.5 1,959.1 2,408.2 449.1 22.9%
Operating Income Margin 35.8% 42.5% 45.6% 47.2% 46.5% 53.2% N/A 6.7%
EBITDA 3,398.5 4,006.8 4,285.0 5,228.5 2,462.6 2,623.9 161.31 6.6%
EBITDA Margin 53.9% 55.4% 56.2% 59.2% 58.4% 57.9% N/A -0.5%
Interest Expenses (944.2) (1,215.3) (1,405.0) (1,509.0) (744.9) (970.3) (225.4) 30.3%
INCOME BEFORE TAX 1,310.6 1,850.7 2,068.3 2,649.7 1,209.2 1,435.8 226.64 18.7%
Income Tax Expense (381.9) (613.7) (749.1) (846.6) (334.9) (475.6) (140.75) 42.0%
NET INCOME 1,027.7 1,421.7 1,466.4 1,889.3 925.5 1,016.1 90.63 9.8%
Summary of Balance Sheets
(Billion Rupiah)
25
(FYE 31 Dec)
Y2013
Y2014
Y2015
Y2016
2Q2017
∆Rp
∆%
Restated
Restated
(Audited) (Audited) (Unaudited) (Audited) (Audited)Cash and Cash
Equivalent
3,514.1
3,290.8
3,323.2
4,124.9
4,844.9
720.0
17.5%
Other Current Assets
274.2
255.0
405.8
8,841
12,492.5
3,651.5
41.3%
Non Current Assets
24,276.2
28,314.2
32,995.9
40,534.4
48,474.6
7,940.2
19.6%
TOTAL ASSETS
28,064.5
31,860.0
36,725.0
53,500.3
65,812.0
12,311.8
23.0%
Current Liabilities
4,870.8
4,301.0
7,743.8
18,627.0
15,182.7
-3,444.3
-18.5%
Non Current Liabilities
13,004.4
16,538.2
16,612.5
18,534.5
32,771.4
14,236.9
76.8%
TOTAL LIABILITIES
17,875.2
20,839.2
24,356.3
37,161.5
47,954.1
10,792.6
29.0%
Equity
10,189.3
11,020.7
12,368.7
16,338.8
17,858.0
1,519.2
9.3%
TOTAL LIABILITIES
Forward Looking 2017
*There are changes in operating system and the integration system of transactions
Financial & Operational Performance
2016 Audited
2017 Plan
∆(YoY)
CAPEX (Rp)
9,577.0
19,554.2
104%
Revenue (Rp)
(excluding construction revenue)
8,832.3
10,286.5
16%
Traffic
(billion vehicle transactions)
1.36
1.36*
Kinerja Keuangan dan Operasional
2016 Audited
2017 Plan
∆(YoY)
Total Asset (Rp)
53,500.3
74,818.7
40%
Interest Coverage Ratio
3.44
2.56
-26%
Debt to Equity Ratio
2.27
2.79
23%
(Billion Rupiah)
Toll Road Operation Plan 2017
Medan-Kulanamu-Tebing Tinggi
Section Perbarakan - Sei Rampah
Jalan Tol Semarang-Solo
Section Bawen - Salatiga
Solo-Ngawi
Ngawi - Kertosono
Section Ngawi - Saradan
Surabaya - Mojekerto
Section Sepanjang - Krian
Gempol - Pasuruan
210 Km
New Operation
Toll Road
25.0 KM
27
7,927 906
Chart Title
Toll Revenue
Other Business
Manage rest area and
property on the toll road
coridor
To give maintenance
services for Jasa Marga and
other toll road investor
To give operation services
for Jasa Marga and other
toll road investor
Other Business Development
Toll Operation
Services
Maintenance
Services
Property
(Billion Rupiah)
28
88%
12%
2Q 2017
92%
8%
2Q 2016
335.3
543.3
2Q 2016
2Q 2017
62.04%
Traffic Volume by Section
(Million vehicle transactions)
29
Section Branch/Subsidiary 2012 2013 2014 2015 2016 2Q2016 2Q2017 ∆% 2Q17 vs. 2Q16 CAGR 2012-2016 1 Jagorawi Jagorawi 189.9 199.6 201.3 204.2 207.7 102.29 102.34 0.0% 2.3% 2 Jakarta-Cikampek Jakarta-Cikampek 194.9 202.2 206.1 215.0 221.7 110.87 104.31 -5.9% 3.3% 3 Jakarta-Tangerang Jakarta-Tangerang 107.9 113.0 119.8 127.4 130.9 64.51 64.35 -0.2% 5.0%4 Prof. Dr. Ir. Sedyatmo
Cawang-Tomang-Cengkareng
72.1 74.8 76.4 76.2 79.6 38.80 40.60 4.6% 2.5%
5 Jakarta Inner Ring Road 205.4 208.3 206.4 208.5 215.3 106.10 106.12 0.0% 1.2%
6 Padaleunyi Purbaleunyi 60.3 58.0 60.0 60.0 61.0 29.80 30.55 2.5% 0.3% 7 Cipularang 5.3 5.9 6.3 6.3 6.5 3.20 3.28 2.4% 5.0% 8 Surabaya-Gempol Surabaya-Gempol 75.5 81.7 82.9 89.6 97.7 47.92 48.86 2.0% 6.6% 9 Semarang Semarang 45.3 48.9 48.1 50.4 51.8 24.79 25.60 3.3% 3.4% 10 Belmera Belmera 21.7 24.0 25.4 24.8 25.8 12.58 13.74 9.2% 4.4% 11 Palikanci Palikanci 19.3 20.2 19.9 23.0 19.0 11.94 7.10 -40.5% -0.4%
12 Jakarta Outer Ring Road PT Jalantol Lingkarluar
Jakarta
139.9 146.7 151.6 90.7 95.8 46.86 47.67 1.7% -9.0%
13 Ulujami-Pondok Aren 44.3 46.9 45.1 43.7 46.1 22.50 23.38 3.9% 1.0%
14 Bogor Outer Ring Road PT Marga Sarana Jabar 11.2 12.5 13.7 15.3 16.5 7.98 7.86 -1.5% 10.1% 15 Surabaya-Mojokerto PT Jasamarga Surabaya
Mojokerto 8.6 11.3 12.1 13.0 15.4 7.34 8.19 11.6% 15.5%
16 Semarang-Solo PT Trans Marga Jateng 5.0 6.6 15.6 18.7 20.5 9.51 10.67 12.2% 42.6% 17 Nusa Dua-Ngurah
Rai-Benoa PT Jasamarga Bali Tol - 3.3 14.3 16.5 17.5 8.15 9.18 12.6% N/A
18 JORR W2 Utara PT Marga Lingkar Jakarta - - 14.5 24.7 26.9 12.97 14.65 13.0% N/A
19 Gempol-Pandaan PT Jasamarga Pandaan Tol - - - 2.8 5.8 2.71 3.20 18.08% N/A
20 PT Trans Jatim Pasuruan - - - - 0.0 0.00 0.05 N/A N/A
TOTAL 1,206.7 1,263.9 1,319.6 1,310.8 1,361.3 670.82 671.70 0.1% 3.1%
Note : * The changes in the traffic pattern and the impact from the removal of toll gates cikopo because of integration of cluster 1 (Cikampek,Padaleunyi,Cipularang,Cikopo- Palimanan)
** There is changes in traffic record as the impact of removal gate Plumbon 3, Plumbon 4, dan Ciperna Utama dikarenakan integrasi Cluster II (Palimanan-Kanci, Kanci-Pejagan, Pejagan-Brebes Timur)
Toll Revenue by Branch/Subsidiary
(Billion Rupiah)
30
Cabang/Anak Perusahaan 2012 2013 2014 2015 2016 2Q2016 2Q2017 2Q17 vs. 2Q16∆% CAGR
2012-2016 1 Jagorawi 508.1 548.2 607.5 620.2 697.0 343.2 341.8 -0.4% 8.2% 2 Jakarta-Cikampek 896.2 976.6 1,023.4 1,137.8 1,232.5 596.6 635.3 6.5% 8.3% 3 Jakarta-Tangerang 379.6 408.0 467.1 507.5 580.7 287.6 331.6 15.3% 11.2% 4 Cawang-Tomang-Cengkareng 1,063.6 1,110.0 1,212.3 1,247.0 1,412.7 689.5 724.7 5.1% 7.4% 5 Purbaleunyi 924.9 1,017.4 1,175.9 1,197.5 1,350.6 661.5 624.8 -5.5% 9.9% 6 Surabaya-Gempol 240.8 270.5 309.0 335.8 402.0 200.0 199.8 -0.1% 13.7% 7 Semarang 97.2 104.8 106.5 113.2 136.6 65.6 67.4 2.7% 8.9% 8 Belmera 73.2 81.6 91.3 90.2 105.5 51.8 54.8 5.7% 9.6% 9 Palikanci 100.5 107.5 112.4 133.0 169.5 80.1 86.0 7.4% 13.9%
10 PT Jalantol Lingkarluar Jakarta 1,215.7 1,055.0 1,182.4 1,163.7 1,010.2 586.0 526.7 -10.1% -4.5%
TOTAL PARENT LEVEL 5,499.8 5,679.5 6,288.0 6,545.9 7,097.3 3,561.9 3,592.9 0.9% 6.6%
11 PT Marga Sarana Jabar 41.1 45.6 67.2 86.9 100.2 46.2 49.0 6.1% 25.0%
12 PT Jasamarga Surabaya Mojokerto 13.4 17.6 18.8 20.1 36.0 15.2 22.0 44.2% 28.0%
13 PT Trans Marga Jateng 27.5 36.5 107.3 129.5 152.8 70.7 80.3 13.6% 53.6%
14 PT Jasamarga Bali Tol - 23.7 106.1 122.7 143.3 66.5 75.2 13.2% N/A
15 PT Marga Lingkar Jakarta - - 59.0 188.0 337.3 90.7 133.0 46.7% N/A
16 PT Jasamarga Pandaan Tol - - - 27.8 59.7 27.8 32.8 18.1% N/A
17 PT Trans Jatim Pasuruan - - - - - 0.3 - N/A
TOTAL SUBSIDIARY LEVEL 81.9 123.2 358.4 575.1 829.3 317.0 392.6 23.8% 78.4% TOTAL 5,581.8 5,802.7 6,646.4 7,121.0 7,926.6 3,878.9 3,985.5 2.7% 9.2%
e-Toll Card Implementation Plan
On 21 March 2016, e-Toll payment was applicable for all SOE Bank cards in JORR, Jakarta-Tangerang and BORR.
31
No. Toll Road Section 2009 2010 2011 2012 2013 2014 2015 2016 2Q 2017
1
Cawang-Tomang-Pluit
2.46% 5.57% 7.36% 11.69% 13.32% 14.72% 23.54% 36.25% 38.98% (Jakarta Inner Ring Road)
2 Prof. Dr. Ir. Sedyatmo (Airport) 2.32% 6.21% 8.11% 12.26% 14.45% 16.35% 23.95% 36.30% 37.71%
3 Purbaleunyi 0.67% 7.36% 17.97% 20.15% 4 Jakarta-Cikampek 1.13% 0.46% 6.78% 8.53% 9.01% 9.31% 17.10% 21.73% 5 Palikanci 0.78% 0.68% 0.75% 2.80% 4.68% 5.45% 6 Jagorawi 3.22% 9.97% 11.80% 14.90% 12.57% 18.83% 21.94% 7 Surabaya-Gempol 3.54% 3.30% 3.05% 7.51% 12.45% 16.20% 8 Semarang 1.59% 1.32% 2.13% 10.27% 18.87% 28.41%
9 Jakarta Outer Ring Road 11.78% 14.25% 16.04% 22.33% 30.09% 36.11%
10 Jakarta-Tangerang 8.42% 13.51% 14.72% 20.77% 33.97% 38.65%
11 Belmera 2.29% 2.52% 3.35% 4.36% 16.61% 23.10%
12 Bogor Outer Ring Road 5.06% 6.57% 17.25% 22.96% 24.62%
13 Semarang-Bawen 2.44% 12.82% 20.12% 24.13%
14 Nusa Dua-Ngurah Rai-Benoa 2.93% 1.95% 3.91% 9.86% 11.58%
15 JORR W2 North 30.99% 34.41%