Jasa Marga Expects Revenue of IDR8 Trillion in 2015

KATADATA ? PT Jasa Marga (Persero) Tbk is targeting IDR8 trillion in revenue this year, a 10.7 percent increase from IDR7.23 trillion a year earlier.

According to Jasa Marga?s CEO, the commercial operations of  a number of projects in 2015 will help drive revenue. Its transaction volume is projected to grow to 1.38 billion vehicles a year from 1.32 billion  last year.

The company will increase the toll rates in Jabodetabek area by 9-12 percent except for Jakarta-Cikampek and Sedyatmo toll road sections.

?We are confident that (our revenue) will grow to IDR8 trillion because we have four projects that will commence commercial operations this year. And we expect to see a rise in toll rates in 11 toll roads next September,? he said at his office, on Friday (2/6).

These new toll roads are the relocated 15-km Porong-Gempol and Jepanan-Gempol toll roads that will commence commercial operations in March, an 18-km toll road that links Mojokerto with Surabaya in July-August, and a 14-km Gempol-Pasuruan toll road in November.

The company has set aside a capital expenditure budget of IDR4 trillion, down from IDR4.8 trillion last year. The money will be used to win new tenders and fund its subsidiaries, particularly PT Jasa Marga Properti of IDR150 billion.

The company has recently won the tender to construct a 49-km toll road that links Kuala Namu with Tebing Tinggi that requires IDR4 trillion in investment. In addition, it?s currently undergoing a due diligence process to to construct a 10-km Koja-Soreang toll road that requires  IDR1 trillion in investment.

Jasa Marga is currently participating in a tender to construct Surakarta-Ngawi toll road that requires IDR9 trillion in investment. Some 70 percent of that investment will be financed by the private sector, while Jasa Marga will fund some 55-60 percent that will cost the company IDR1.5 trillion.

The company generated a net profit of IDR1.4 trillion in 2014, up 40 percent from IDR1.03 trillion a year earlier. This is mainly due to the increase in revenue from IDR5.8 trillion to IDR6.6 trillion.