Jasa Marga Update 2Q 2017
As of 30 June 2017 List of Content
3 Company in Brief
9 Toll Road Industry in Indonesia
12 Jasa Marga’s Strategic Projects
18 Funding Strategy
22 Financial Highlights
2 I COMPANY IN BRIEF Proven Track Record in Indonesian Toll Road Business
Leading toll road operator in Indonesia with 39 years of experience. Start 1978 1983 1984 1986 1987 1988 1990 1991 1998 2001 2003 2009 2011 2013 2014 2015 2016 2017 Operation BORR (Section 2 & 3)(2) Jagorawi Surabaya- Cipularang JORR W2 North Padaleunyi Palikanci (2) Semarang- (4) (Section 1-4) Gempol (2) Jakarta- Surabaya- Solo Ulujami- Bogor Outer Mojokerto Semarang Cikampek Gempol-Pasuruan(2) Pondok Aren Ring Road (Section 4)(2) Belmera Semarang-Solo BORR Gempol- Cengkareng- Jakarta Outer (2) (Section 2)(2) (Section 1) (2) (2) Ring Road Pasuruan Kunciran Jakarta-Tangerang (Section: (JORR) (2) Gempol- Bagil-Rembang) Kunciran-Serpong Surabaya-Mojokerto Pandaan(2) Surabaya-Mojokerto(2) Prof. Dr. Ir. (Section 1A)(2) Jakarta Inner Sedyatmo Medan-Kualanamu- Ring Road (JIRR) (2) Toll Road (1) Tebing Tinggi Semarang-Solo BORR Concessions (2) (Section 1)(2) (Section 2A) Solo-Ngawi(2)
Ngawi-Kertosono(2)
Nusa Dua-Ngurah Cinere-Serpong(2) Rai-Benoa(2) Semarang-Batang(2)
Pandaan-Malang(2)
Balikpapan-Samarinda(2)
Manado-Bitung(2)
Jakarta-Cikampek II Elevated(2) Number of 1 2 4 6 7 8 9 10 11 12 13 14 16 17 18 19 19 20 31 Concessions
Total Length (km) under Corresponding 59 84 131 223 246 329 394 437 463 469 527 531 544 554 576 590 593 600 1.260 Concessions(3)
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 (4) Porong-Gempol Section (5 km) within Surabaya-Gempol Toll Road has officially been closed due to force majeure (mud) since 2006. 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-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 exhausted Concession years remaining 5 Company Structure
Government Shareholding Structure of Indonesia Regulatory Framework (“GOI”) Foreign 16% Ministry of Public Works Individual Ministry of State- Minister of (“MPW”) 5% Owned Enterprises Public Works (“MSOE”) Domestic Government Institution 70% 70% 5% Directorate General Ownership Road Network Granting & of Highways Mutual Supervising Toll Indonesian Toll Road Planning & Setting of Road concessions Authority (“BPJT”) Fund Technical 4% Specifications 30% Ownership Concession Concession Agreement Agreement Since 12 Nov 2007
Public Private Toll Road Investors Private Toll Road Investors
6 The Largest Toll Road Operator in Indonesia
Strait of NORTH SUMATERA : in Operation Malacca. Belmera: 42.70 km . Medan-Kualanamu-Tebing Tinggi: 61.70 km EAST KALIMANTAN : in land acquisition . Balikpapan-Samarinda: 99.35 km GREATER JAKARTA & WEST JAVA and construction
. Jagorawi: 59.00 km SUMATRA MALUKU . Jakarta-Tangerang: 33.00 km . Ulujami-Pondok Aren: 5.55 km . Jakarta Inner Ring Road: 23.55 km SULAWESI NORTH SULAWESI . Manado-Bitung: 39.9 km . Prof. Dr. Ir. Sedyatmo: 14.30 km KALIMANTAN PAPUA . Jakarta-Cikampek: 83.00 km EAST JAVA Java Sea . JORR: 28.3 km . Surabaya-Gempol: 49.00 km . Cikampek-Padalarang: 58.50 km Banda Sea . Gempol-Pandaan: 13.61 km . Padalarang-Cileunyi: 64.40 km . Gempol-Pasuruan: 34.15 km . Palikanci: 26.30 km JAVA . Surabaya-Mojokerto: 36.27 km BALI . JORR W2 North: 7.70 km Timor. SeaPandaan-Malang: 37.62 km . Bogor Outer Ring Road: 11.00 km IndianCENTRAL Ocean JAVA . Cengkareng-Kunciran: 14.19 km . Semarang: 24.75 km BALI . Kunciran-Serpong: 11.19 km . Semarang-Solo: 72.64 km . Nusa Dua-Ngurah Rai-Benoa: 10.00 km . Cinere-Serpong: 10.14 km . Solo-Ngawi: 90.1 km . Jakarta-Cikampek II Elevated: 36.4 km . Ngawi-Kertosono: 87.02 km . Semarang-Batang: 75 km
Concession Rights (km) 1,260 Market Shares 987 738 738 799
61% 80%
607 km Toll Road in Operation* Transactions volume 2012 2013 2014 2015 2016 *As of August 2017 7 Transaction Volume and Toll Revenues
GREATER JAKARTA AND WEST JAVA TOP 5 Contributor 2017 6,891 Revenue 6,282 18.2% 5,907 15.9% 15.7% 5,268 13.2%
8.6% 3,381 3,453
1,121 1,095 1,127 1,088 557.82
552 Jagorawi
Purbaleunyi
Cengkareng
PT Jalantol PT Cawang-Tomang-
2013 2014 2015 2016 2Q2016 2Q2017 Jakarta-Cikampek Lingkarluar Jakarta Lingkarluar
NON GREATER JAKARTA AND WEST JAVA Traffic 15.8% 1,036 15.2% 15.2%
839 9.6% 739 7.1%
534 498 533
234 198 216
176 113.0
Jagorawi
Jakarta- Tangerang
119 Road
Road
Jakarta-Cikampek Jakarta Inner Ring Inner Jakarta
2013 2014 2015 2016 2Q2016 2Q2017 Ring Outer Jakarta 8 II TOLL ROAD INDUSTRY IN INDONESIA Toll Road Development Target in Indonesia
Factor of Development
Government’s Priority Program
Indonesia population will be grow rapidly
Car sales increase
No connectivity
10 Regulation
Tariff 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.
Land Acquisition 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.
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. 11 III JASA MARGA’S PROJECT Jasa Marga’s New Projects as of 30 June 2017
Length Investment Cost JSMR Ownership Section Concession Period (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 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. 13 (7) Gempol-Pasuruan: Section Bangil-Rembang (7 km) is operated since 13 April 2017. Toll Road Network and Jasa Marga’s Project in Greater Jakarta
Kunciran-Serpong (10.14 km)
Serpong-Kunciran (11.19 km) Jakarta Cikampek II Cinere-Serpong Elevated (10.14 km) (36.4 km)
BORR (11 km)
Jasa Marga Land Acquisition Construction Project Length Investment Cost Concession Period Ownership As of 30 June 2017 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 % 35 years from effective Cinere-Serpong 10.14 km 55% Rp 2.57 trillion 45.44 % - date 35 years from effective Kunciran-Serpong 11.19 km 60% Rp 2.86 trillion 86.08% - date
35 years from effective Cengkareng-Kunciran 14.19 km 76.2% Rp 4.98 trillion 28.68% - date
45 years from effective Jakarta-Cikampek II Elevated 36.4 km 80% Rp 16.23 trillion - 5.27 % date 14 Toll Road Network and Jasa Marga’s Project in Java
15 Toll Road Network and Jasa Marga’s Project in Java
Jasa Marga Investment Land Acquisition Construction Project Length Concession Period Section Ownership Cost As of 30 June 2017 As of 30 June 2017
Section 1 Batang –Batang Timur (3.2 km) 100% Section 1 & 2 Section 2 Batang Timur-Weleri (36.35 km) 94.09% 27.22% 45 years from Semarang- Rp 11.05 Section 3 Weleri-Kendal (11.05 km) 78.15% Section 3 22.88 % 75 km 60% effective date Batang trillion Section 4 Kendal-Kaliwungu (13.50 km) 73.38% Section 4 &5 Section 5 Kaliwungu-Krapyak (10.9 km) 83.61% 36.86% Terbanggi Besar-Mesuji - -
72.64 Section Bawen-Salatiga (17.5 km) 100%; 100% Semarang-Solo 73.91% Rp 7.3 trillion 2055 km Section Salatiga-Kartasuro (29.02km) 97.8% 9.05%
35 years from Rp 5.14 Solo-Ngawi 90.1 km 59.99% effective date Section I : Solo-Mantingan (35.15 km) 91.74% 78.25% trillion Section II : Mantingan - Ngawi (34.2 km) 94.11% 57.50%
35 years from Section I : Ngawi - Magetan (20 km) 99.45% 71.81% Ngawi- 87.02 Rp 3.83 59.99% effective date Section II : Magetan - Madiun (8.45 km) 100 % 73.21% Kertosono km trillion Section III : Madiun - Saradan (21.06 km) 99.51% 76.88% Section 1A: Waru-Sepanjang (2.3km) 100% 100% Section 1B: Sepanjang-WRR (4.3 km) 100% 89.72% Surabaya- 36.3 km 55% Rp 3.8 trillion 2049 Section 2: WRR-Driyorejo (5.1 km) 100% 60.01% Mojokerto Section 3: Driyorejo-Kriyan (6.1 km) 100% 66.45% Section 4: Krian-Mojokerto (18.5km) 100% 100% Section I : Purwodadi- Pandaan (14.92 km) 85.02% 35 years from Section II : Lawang-Purwodadi (8 km) 78.23% Pandaan- 37.62 Rp 5.97 Section I-V: 60% effective date Section III : Pakis I - Lawang (7.5 km) 96.38% Malang km trillion 10.84% Section IV : Pakis II – Pakis I (4.10 km) - Section V : Malang-Pakis II (3.10 km) 41.66% Section1: Gempol-Rembang (13.9 km) 100% 98.75% 45 years from Section 2A &2 B : Rembang-Pasuruan (6.6 Gempol- 34.20 Rp 4.17 98.80% 20.85% 98.60% effective date km) Pasuruan km trillion 40.60% - Section 3: Pasuruan-Grati (13.65 km) 16 Toll Road Projects in Sumatera, Kalimantan and Sulawesi
Strait of NORTH SUMATERA Malacca . Medan-Kualanamu-Tebing Tinggi: 61.70 km EAST KALIMANTAN . Balikpapan-Samarinda: 99.35 km
SUMATRA MALUKU
SULAWESI NORTH SULAWESI . Manado-Bitung: 39.9 km KALIMANTAN
Java Sea
Jasa Marga Investment Concessio Land Acquisition Construction Project Length Section Ownership Cost n Period As of 31 June 2017 As of 31 June 2017 • Tj.Morawa – Tj. Baru (3 km) 83.60% 15.26% • Parbarakan-Lubuk Pakam (4.85 km) 100% 100% 40 years Medan • Lubuk Pakam-Adolina 100% 100% Rp 4.71 from Kualanamu 61.7 km 55% • Adolina-Perbaungan 94.06% 100% trillion effective Tebing Tinggi • Perbaungan-Teluk Mengkudu (9.57km) 92.76% 89.56% date • Teluk Mengkudu-Sei Rampah (7.83km) 94.00% 88.90% • Sei Rampah-Tebing Tinggi (9.26km) 45.03%; -
• Balikpapan-Samboja (22 km) 100% 40 years • Samboja-Muarajawa (31 km) 99.61% Balikpapan- Rp 9.97 from 99.35 km 55% • Muarajawa-Palaran (17.3 km) 94.07% Section 2,3&4 : 18.53% Samarinda trillion effective • Palaran-Samarinda (18 km) 86.71% date • Sepinggan-Km 13 Balikpapan (11.1 km) 100% 40 years • Ring Road Manado-Sukur (7.9 km) 93% - Rp 5.12 from Manado-Bitung 39.9 km 65% • Sukur-Airmadidi (7 km) 56% - trillion effective • Airmadidi-Bitung (25 km) 62% - date 17 III FUNDING STRATEGY Capital Expenditure Plan 2017 (billion Rupiah)
2017 No. Item 2016 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
19 Financial Capacity
EBITDA & EBITDA Margin ICR, DER
6.00 60% 4.00 5.23 59% 3.44 3.50 3.30 5.00 4.01 59% 3.05 4.29 3.00 58% 4.00 2.50 2.27 57% 1.89 1.97 3.00 2.00 56% 56% 2.00 55% 1.50 55% 1.00 1.00 54% 0.50 - 53% 0.00 2014 2015 2016 2014 2015 2016 EBITDA EBITDA Margin ICR DER
11.18% 10.90%
10.46%
9.66% 9.33% 9.39% 9.39% 9.37% 9.38%
2015* 2016 2Q 2017
Bank Bond Weighted Average Cost of Debt 20 Funding Strategy Debt Recycling
• Planed to issue Bond/ Sukuk through Asset Recycling Sustainable Bond II (2017 – 2019) Rp 19.8 trillion (In 2017 -Trace I up to Rp7 Trillion) • Securitization from future revenue at mature section Rp 2 trillion (tenor 5 years) • Planed to issue Project Bond in Operated Subsidiaries
Project Bonds Securitization
Fund Rising • Divestment stock ownership in Kebon Jeruk-Penjaringan Toll Road (PT Jakarta • Jasa Marga establish Trans Java Sub holding Lingkar Barat Satu) up to 19,1% To simplify operational activity 14 toll road owned by Jasa Marga & Waskita Toll Road • Divestment stock ownership in Semarang- and planed to go public. Solo Toll Road (PT Trans Marga Jateng) 15% • Current Status : Valuation Study from 73,9% to 58,9%
Divestment Trans Java Sub holding
21 IV FINANCIAL HIGHLIGHTS Positive Growth (Rp Billion Rupiah) Revenue EBITDA 5,229 8,832 4,285 7,228 7,631 4,007 6,311 3,399 4,214 4,529 2,463 2,624
2013 2014 2015 2016 2Q2016 2Q2017 2013 2014 2015 2016 2Q2016 2Q2017
Toll Revenue 7,926 59% 7,121 6,646 EBITDA Margin 58% 58% 5,803 56% 3,879 3,986 55% 54%
2013 2014 2015 2016 2Q2016 2Q2017 2013 2014 2015 2016 2Q2016 2Q2017 Other Business Revenue 906 Operating Margin 53% 47% 46% 43% 46% 581 508 510 543 36% 335
2013 2014 2015 2016 2Q2016 2Q2017 2013 2014 2015 2016 2Q2016 2Q2017 Operating Income Nett Income Margin 4,166 21% 22.0% 22.4% 3,478 20% 19% 3,073 16% 2,259 2,408 1,959
23 2013 2014 2015 2016 2Q2016 2Q2017 2013 2014 2015 2016 2Q2016 2Q2017 Summary of Income Statements (Billion Rupiah)
Y2013 Y2014 Y2015 Y2016 2Q2016 2Q2017 ∆Rp ∆% (FYE 31 Dec) 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 (3,231.3) (3,562.8) (3,518.0) (4,022.9) (1,935.6) (2,104.5) (169.0) 8.7% Expenses General and Administrative (1,087.8) (884.8) (893.3) (949.0) (443.4) (506.9) (63.5) 14.3% Expenses 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% Net Income Margin 16.3% 19.7% 19.2% 21.4% 22.0% 22.4% N/A 0.5%
24 Summary of Balance Sheets (BillionRupiah)
Y2013 Y2014 Y2015 Y2016 2Q2017 ∆Rp ∆% (FYE 31 Dec) Restated Restated (Audited) (Audited) (Unaudited) (Audited) (Audited) Cash and Cash 3,514.1 3,290.8 3,323.2 4,124.9 4,844.9 720.0 17.5% Equivalent 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 28,064.5 31,860.0 36,725.0 53,500.3 65,812.0 12,311.7 23.0% AND EQUITY
25 Forward Looking 2017 (Billion Rupiah)
Financial & Operational Performance 2016 Audited 2017 Plan ∆(YoY)
CAPEX (Rp) 9,577.0 19,554.2 104%
Revenue (Rp) 8,832.3 10,286.5 16% (excluding construction revenue)
Traffic 1.36 1.36* (billion vehicle transactions)
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%
*There are changes in operating system and the integration system of transactions
26 Toll Road Operation Plan 2017
Medan-Kulanamu-Tebing Tinggi Section Perbarakan - Sei Rampah 210 Km
Jalan Tol Semarang-Solo New Operation Section Bawen - Salatiga Toll Road
Solo-Ngawi
25.0 KM Surabaya - Mojekerto Ngawi - Kertosono Section Sepanjang - Krian Section Ngawi - Saradan
Gempol - Pasuruan
27 Other Business Development (Billion Rupiah) 543.3 2Q 2016 2Q 2017 Chart Title 8% 12% 906 335.3
62.04%
88% 92% 7,927
2Q 2016 2Q 2017 Toll Revenue Other Business
Toll Operation Maintenance Property Services Services
To give operation services To give maintenance Manage rest area and for Jasa Marga and other services for Jasa Marga and property on the toll road toll road investor other toll road investor coridor
28 Traffic Volume by Section (Million vehicle transactions)
∆% CAGR Section Branch/Subsidiary 2012 2013 2014 2015 2016 2Q2016 2Q2017 2Q17 vs. 2012-2016 2Q16 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 72.1 74.8 76.4 76.2 79.6 38.80 40.60 4.6% 2.5% Cawang-Tomang-Cengkareng 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 60.3 58.0 60.0 60.0 61.0 29.80 30.55 2.5% 0.3% Purbaleunyi 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 139.9 146.7 151.6 90.7 95.8 46.86 47.67 1.7% -9.0% 13 Ulujami-Pondok Aren Jakarta 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% PT Jasamarga Surabaya 15 Surabaya-Mojokerto 8.6 11.3 12.1 13.0 15.4 7.34 8.19 11.6% 15.5% Mojokerto 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% Nusa Dua-Ngurah Rai- 17 PT Jasamarga Bali Tol - 3.3 14.3 16.5 17.5 8.15 9.18 12.6% N/A Benoa 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, 29 Pejagan-Brebes Timur) Toll Revenue by Branch/Subsidiary (Billion Rupiah)
Cabang/Anak Perusahaan 2013 2014 2015 2016 2Q2016 2Q2017 ∆% CAGR 2012 2Q17 vs. 2Q16 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%
30 e-Toll Card Implementation Plan
No. Toll Road Section 2009 2010 2011 2012 2013 2014 2015 2016 2Q 2017 Cawang-Tomang-Pluit 1 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% TOTAL 2.42% 5.55% 5.17% 9.25% 10.92% 11.57% 15.61% 24.20% 29.16%
On 21 March 2016, e-Toll payment was applicable for all SOE Bank cards in JORR, Jakarta-Tangerang and BORR.
31 THANK YOU