Jasa Marga Update 1Q 2017

Jasa Marga Update 1Q 2017

As of 2 May 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 Operation

1978

1983

1984

1986

1987

1988

1990

1991

1998

2001

2009

2003

2011

2013

2014

2015

2016

2017 BORR (Section 2 & 3)(2)

Jagorawi

SurabayaGempol (4)

Semarang

Padaleunyi JakartaCikampek

Belmera Jakarta-Tangerang

Palikanci

Ulujami- Bogor Outer Pondok Aren Ring Road BORR Jakarta Outer (Section 1)(2) Ring Road (JORR)

Semarang-Solo (Section 2)(2)

(1)

Semarang-Solo (Section 1)(2)

SemarangSolo(2)

SurabayaMojokerto (Section 4)(2)

GempolPandaan(2)

Surabaya-Mojokerto (Section 1A)(2)

Prof. Dr. Ir. Sedyatmo Jakarta Inner Ring Road (JIRR)

Toll Road Concessions

JORR W2 North (Section 1-4)(2)

Cipularang

Gempol-Pasuruan(2)

GempolPasuruan(2) (Section: Bagil-Rembang)

CengkarengKunciran(2) Kunciran-Serpong(2) Surabaya-Mojokerto(2) Medan-KualanamuTebing Tinggi(2)

BORR (Section 2A)(2)

Solo-Ngawi(2) Ngawi-Kertosono(2)

Cinere-Serpong(2)

Nusa Dua-Ngurah Rai-Benoa(2)

Semarang-Batang(2) Pandaan-Malang(2) Balikpapan-Samarinda(2) Manado-Bitung(2) Jakarta-Cikampek II Elevated(2)

Number of Concessions Total Length (km) under Corresponding Concessions(3) Note:

(1) (2) (3) (4) (5)

1

2

59 84

4

131

6

7

223 246

8

9

10

11

329

394

437

463

12

469

13

14 16

527

531

17

19

19

19

19

544

554

576

590

600*

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. Jasa Marga’s newly acquired toll road concessions. 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. Porong-Gempol Section (5 km) within Surabaya-Gempol Toll Road has officially been closed due to force majeure (mud) since 2006. Legth of toll road operated as of April 2017

31

1.260

4

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); 35year 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-KualanamuTebing 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 (PandaanMalang) and 40-year concession (Balikpapan-Samarinda and Manado-Bitung).

Concession years exhausted

Concession years remaining

5

Company Structure Government of Indonesia (“GOI”)

Shareholding Structure

Regulatory Framework

Foreign 15% Individual 4% Domestic Institution 8%

Ministry of StateOwned Enterprises (“MSOE”)

Government 70%

70% Ownership

Mutual Fund 3%

Granting & Supervising Toll Road concessions

Directorate General of Highways Indonesian Toll Road Authority (“BPJT”)

30% Ownership Since 12 Nov 2007 Public

Ministry of Public Works (“MPW”)

Minister of Public Works

Concession Agreement

Road Network Planning & Setting of Technical Specifications

Concession Agreement

Private Toll Road Investors Private Toll Road Investors

6

The Largest Toll Road Operator in Indonesia Strait of NORTH SUMATERA Malacca  Belmera: 42.70 km



: in Operation

Medan-Kualanamu-Tebing Tinggi: 61.70 km EAST KALIMANTAN  Balikpapan-Samarinda: 99.35 km

GREATER JAKARTA & WEST JAVA SUMATRA  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

MALUKU

KALIMANTAN

PAPUA

2012

2013

EAST JAVA  Surabaya-Gempol: 49.00 km Banda Sea  Gempol-Pandaan: 13.61 km  Gempol-Pasuruan: 34.15 km  Surabaya-Mojokerto: 36.27 km  Sea Pandaan-Malang: 37.62 km Timor

Java Sea

JAVA BALI

CENTRAL Indian Ocean JAVA

    

BALI  Nusa Dua-Ngurah Rai-Benoa: 10.00 km

Semarang: 24.75 km Semarang-Solo: 72.64 km Solo-Ngawi: 90.1 km Ngawi-Kertosono: 87.02 km Semarang-Batang: 75 km

MARKET SHARE

1,260 987

738

61%

799

2014

NORTH SULAWESI  Manado-Bitung: 39.9 km

SULAWESI

Concession Rights (km) 738

: in land acquisition and construction

2015

2016

600 km Toll Road in Operation* *as of April 2017

80% Transactions volume

7

Transaction Volume and Toll Revenues TOP 5 Contributor 2017

GREATER JAKARTA AND WEST JAVA

Revenue

6,891 5,907

18.5%

6,282

16.4%

5,268

15.0%

13.8%

275 279

2013

2014

2015

2016

1Q2016 1Q2017

Jagorawi

1,692

5.1%

4.7%

JakartaTangerang

1,674

PT Jalantol Lingkarluar Jakarta

1,127

Jakarta Outer Ring Road

1,095

Purbaleunyi

1,054

Jakarta-Cikampek

1,021

Cawang-TomangCengkareng

8.9%

NON GREATER JAKARTA AND WEST JAVA 1,036

Traffic 7.4%

839

7.7%

7.4%

739

216

234

239 55

261 58

2013

2014

2015

2016

1Q2016 1Q2017

Jagorawi

198

Jakarta Inner Ring Road

176

JakartaCikampek

534

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 31 March 2017

Section

Length

Investment Cost

(km)

(Rp trillion)

JSMR Ownership (%)

2057

10

2.01

55.0%

2044

7.7

2.01

65.0%

2049

13.61

1.31

92.2%

2054

11

4

55.0%

2055

72.6

7.3

73.9%

2049

36.3

4.03

55.0%

2058

34.15

4.17

98.8%

Concession Period

A. Fully Operated

1 2

Nusa Dua-Ngurah Rai-Benoa (4) JORR W2 North (part of JORR)

(5)

B. Half Operated 3 4 5

Gempol-Pandaan(6) Bogor Outer Ring Road

(1)

Semarang-Solo (part of Trans Java)

(2)

6

Surabaya-Mojokerto (part of Trans Java)

7

Gempol-Pasuruan (part of Trans Java) (7)

(3)

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)


11.19

2.86

60.0%

10

Medan-Kualanamu-Tebing Tinggi


61.7

4.71

55.0%

11

Solo-Ngawi (part of Trans Java)


90.1

9.21

60.0%

12

Ngawi-Kertosono (part of Trans Java)


87.02

7.05

60.0%

13

JORR2 (Serpong-Cinere)


10.14

2.57

55.0%

14

Batang-Semarang (part of Trans Java)


75

11.04

60.0%

15

Pandaan-Malang


37.62

5.97

60.0%

16

Balikpapan-Samarinda


99.35

9.97

55.0%

17

Manado-Bitung


39.9

5.12

65.0%

18

Jakarta-Cikampek II Elevated


36.4

16.23

80.0%

747.97

104.54

TOTAL

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-SeLength (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) Cinere-Serpong (10.14 km)

Jakarta Cikampek II Elevated (36.4 km)

BORR (11 km)

Project

Length

Jasa Marga Ownership

Investment Cost

Concession Period

Land Acquisition As of 31 Mar 2017

Construction As of 31 Mar 2017

Bogor Outer Ring Road

11 km

55%

Rp 4.00 trillion

2054

Section 2B Kd. Badak-Yasmin: 84%

6.37%

Cinere-Serpong

10.14 km

55%

Rp 2.57 trillion

35.79%

-

Kunciran-Serpong

11.19 km

60%

Rp 2.86 trillion

75.94%

-

Cengkareng-Kunciran

14.19 km

76.2%

Rp 4.98 trillion

26.10%

-

80%

Rp 16.23 trillion

-

-

Jakarta-Cikampek II Elevated 36.4 km

35 years from effective date 35 years from effective date 35 years from effective date 45 years from effective date

14

Toll Road Network and Jasa Marga’s Project in Java

15

Toll Road Network and Jasa Marga’s Project in Java Project

BatangSemarang

Length

75 km

Jasa Marga Ownership

60%

Investment Concession Period Cost

Rp 11.05 trillion

Semarang-Solo

72.64 km

73.91%

Rp 7.3 trillion

Solo-Ngawi

90.1 km

59.99%

Rp 5.14 trillion

NgawiKertosono

87.02 km

59.99%

Rp 3.83 trillion

SurabayaMojokerto

36.3 km

55%

Rp 3.8 trillion

PandaanMalang

37.62 km

GempolPasuruan

34.20 km

60%

Rp 5.97 trillion

98.60%

Rp 4.17 trillion

45 years from effective date

2055 35 years from effective date


2049

Section 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)



100% 94.09% 47.94% 52.35% 80.61%

Section 1&2: 15.47% Section 3: 13.15% Section 4&5: 23.59%

Section Bawen-Salatiga (17.5 km) Section Salatiga-Kartasuro (29.02km)

100%; 97.80%

Section 3: Package 3.1: 90.41% Package 3.2: 100% Package 3.3 B: 100% Package 3.3 D 97.74%

Section I : Solo-Mantingan (35.15 km) Section II : Mantingan - Ngawi (34.2 km)

91.74% 92.06%

75.49% 51.70%

Section I : Ngawi - Magetan (20 km) Section II : Magetan - Madiun (8.45 km) Section III : Madiun - Saradan (21.06 km)

97.86% 95.05% 98.41%

54.04% 58.00% 67.25%

100% 100% 100%

82.51% 33.85% 39.99%

41.40% 88.28% 68.12% 84.31%

Section I-V: 4.27%

98.59% 92.09% 34.23%

93.70% 2.28% -

Section 1B: Sepanjang-WRR (4.3 km) Section 2: WRR-Driyorejo (5.1 km) Section 3: Driyorejo-Kriyan (6.1 km)


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)


Section1: Gempol-Rembang (13.9 km) Section 2: Rembang-Pasuruan (6.6 km) 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 MALUKU

SUMATRA

SULAWESI KALIMANTAN

NORTH SULAWESI  Manado-Bitung: 39.9 km

Java Sea

Project

Medan Kualanamu Tebing Tinggi

BalikpapanSamarinda

Manado-Bitung

Length

61.7 km

99.35 km

39.9 km

Jasa Marga Investment Concessio Cost n Period Ownership

Section



Rp 4.71 trillion

• • 40 years • from • effective • date • •

Tj. Morowa-Parbarakan-Kualanamu (17.8 km) Parbarakan-Lubuk Pakam (4.85 km) Lubuk Pakam-Adolina Adolina-Perbaungan Perbaungan-Teluk Mengkudu Teluk Mengkudu-Sei Rampah Sei Rampah-Tebing Tinggi

99.03% 100% 98.39% 96.19% 99.32% 91.13% 43.76%;

66.32% 100% 91.02% 79.23% 69.17% 68.41% -

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)

98.93% 98.96% 93.49% 55.32% 67.87%

section 2, 3, 4 : 3.61%

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)

55%

93% 45.00% 31.79%

-

17

III

FUNDING STRATEGY

Capital Expenditure Plan 2017 (billion Rupiah)

No.

Item

1 Capex of Jasa Marga (Parent) a. Operational b. New Toll Road Development c. Other Business Investments d. Investments in Non-Operational Supporting Facilities

2 Capex of Subsidiaries

3 Capex of Subsidiaries for Other Business

4 Equity Contribution to Subsidiaries Total Consolidated Capex

2016

2017 Plan

2,975.6

8,261.8

1,139.2

2,161.2

1,287.8

4,375.1

416.5

1,486.6

132.1

238.9

7,985.9

14,189.4

243.8

1,15.2

(1,628.4)

(3,912.3)

9,577.0

19,554.2 19

Financial Capacity EBITDA & EBITDA Margin 6.00 5.00

ICR, DER

5.23 59% 4.01

4.29

4.00

59%

3.50

58%

4.00

57%

3.00 2.00

60%

56%

56%

55%

55%

2.50 1.50 1.00 0.50

-

53%

0.00

EBITDA

2016

2014

EBITDA Margin

2014

2015

ICR

2015

2.27

1.97

1.89

2.00

54% 2015

3.05

3.00

1.00 2014

3.44

3.30

2016

2016

DER

1Q2017

20

Funding Strategy Asset Recycling • Securitization planned from future revenue at mature section and targeted Rp 1-3 trillion

Debt Recycling • 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

• Current Status : Legal and Accounting Study

Bond/Sukuk Securitization Fund Rising • Divestment stock ownership in Kebon Jeruk-Penjaringan Toll Road (PT Jakarta Lingkar Barat Satu) up to 19,1% • Divestment stock ownership in SemarangSolo Toll Road (PT Trans Marga Jateng) minimum 55% from 73,91%

Divestment

• Jasa Marga planed to establish Trans Java Sub holding To simplify operational activity 15 toll road owned by Jasa Marga & Waskita Toll Road and planed to go public at 2018 • Current Status : Valuation Study

Trans Java Sub holding 21

IV

FINANCIAL HIGHLIGHTS

Positive Growth in 2016 Revenue 6,311

2013

7,228

7,631

2015

Toll Revenue 5,803

8,832

5,229 3,399

2014

6,646

7,121

2016

2,049

2,140

1Q2016

1Q2017

2013

2014

2015

2013

581

2014

Operating Income 3,073

2015

2016

1,379

1Q2016

1Q2017

64%

2016

1,914

1,953

1Q2016

1Q2017

2013

36%

2016

55%

56%

2014

2015

59%

60%

2016

1Q2016

1Q2017

Operating Margin

510

2015

2014

1,234

7,926

Other Business Revenue906 508

4,007

4,285

EBITDA Margin

54%

2013

(Rp billion)

EBITDA

135

187

1Q2016

1Q2017

2013

57%

43%

46%

47%

48%

2014

2015

2016

1Q2016

Net Income Margin

4,166

3,478

20%

19%

2014

2015

21%

1Q2017 24%

20%

16%

2,259

2013

2014

2015

2016

978

1,211

1Q2016

1Q2017

2013

2016

1Q2016

1Q2017

23

Summary of Income Statements (billion Rupiah)

(FYE 31 Dec) REVENUE Toll and Other Operating Expenses General and Administrative Expenses Other Expenses Others Income OPERATING INCOME Operating Income Margin EBITDA EBITDA Margin Interest Expenses INCOME BEFORE TAX Income Tax Expense NET INCOME Net Income Margin

Y2013 Restated

Y2014 Restated

(Audited)

(Audited)

Y2015

Y2016

1Q2016

1Q2017

∆Rp

∆%

(Audited)

(Audited)

(Unaudited)

(Unaudited)

(YoY)

(YoY)

6,310.9

7,227.8

7,630.7

8,832.3

(3,231.3)

(3,562.8)

(3,518.0)

(4,022.9)

(908.7)

(1,087.8) (33.5) 254.7 2,259.2 35.8% 3,398.5 53.9% (944.2) 1,310.6 (381.9) 1,027.7 16.3%

(884.8) (20.3) 287.9 3,072.7 42.5% 4,006.8 55.4% (1,215.3) 1,850.7 (613.7) 1,421.7 19.7%

(893.3) (29.8) 272.9 3,477.7 45.6% 4,285.0 56.2% (1,405.0) 2,068.3 (749.1) 1,466.4 19.2%

(949.0) (99.0) 357.1 4,165.5

47.2% 5,228.5 59.2% (1,509.0) 2,649.7 (846.6) 1,889.3 21.4%

2,049.0

91.4

4.5%

(932.8)

(24.1)

2.6%

(209.3) (16.7)

(210.2) (35.5)

59.1 978.5 47.8% 1,233.8 60.2%

232.2

(0.9) (18.7) 173.2 232.4 N/A 145.03 N/A (76.37) 106.04 (17.58) 98.68 N/A

0.4% 111.9% 293.2% 23.8% 8.8% 11.8% 4.2% 21.1% 17.2% 7.6% 24.2% 3.8%

(361.2)

616.2 (231.8)

408.5 19.9%

2,140.4

1,210.9

56.6% 1,378.9 64.4% (437.6) 722.3 (249.4) 507.2

23.7%

24

Summary of Balance Sheets (billion Rupiah)

(FYE 31 Dec) Cash and Cash Equivalent Other Current Assets Non Current Assets TOTAL ASSETS Current Liabilities Non Current Liabilities TOTAL LIABILITIES Equity TOTAL LIABILITIES AND EQUITY

Y2013 Restated

Y2014 Restated

(Audited)

(Audited)

Y2015

Y2016

1Q2017

(Audited)

(Audited)

(Unaudited)

∆Rp

∆%

3,514.1

3,290.8

3,323.2

4,124.9

4,319.8

194.9

4.7%

274.2 24,276.2 28,064.5 4,870.8 13,004.4 17,875.2 10,189.3

255.0 28,314.2 31,860.0 4,301.0 16,538.2 20,839.2 11,020.7

405.8 32,995.9 36,725.0 7,743.8 16,612.5 24,356.3 12,368.7

8,841.0 40,534.4 53,500.3 18,627.0 18,534.5 37,161.5 16,338.8

11,934.7 43,027.2 59,281.7 19,368.9 23,502.1 42,871.0 16,410.7

3,093.7 2,492.8 5,781.4 741.9 4,967.6 5,709.5 71.9

35.0% 6.1% 10.8% 4.0% 26.8% 15.4% 0.4%

28,064.5

31,860.0

36,725.0

53,500.3

59,281.7

5,781.4

10.8%

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) (excluding construction revenue)

8,832.3

10,286.5

16%

1.36

1.36**

Traffic (billion vehicle transactions)

Kinerja Keuangan dan Operasional

2016 Audited

Total Asset (Rp)

2017 Plan

∆(YoY)

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

Jalan Tol Semarang-Solo Section Bawen - Salatiga

210 Km New Operation Toll Road

Solo-Ngawi

25.0 KM Ngawi - Kertosono Section Ngawi - Saradan

Surabaya - Mojekerto Section Sepanjang - Krian Gempol - Pasuruan

27

Other Business Developmet (Rp billion) 1Q 2016

Chart Title

7%

187

1Q 2017 9%

906

135

38.6%

93%

Toll Revenue

91% 7,927

Other Business

1Q 2016

1Q 2017

Toll Operation Services

Maintenance Services

Property

To give operation services for Jasa Marga and other toll road investor

To give maintenance services for Jasa Marga and other toll road investor

Manage rest area and property on the toll road coridor 28

Traffic Volume by Section (million vehicle transactions) ∆% Section

Branch/Subsidiary

2012

2013

2014

2015

2016

1Q2016

1Q2017

1Q17 vs. 1Q16

CAGR 2012-2016

1

Jagorawi

Jagorawi

189.9

199.6

201.3

204.2

207.7

50.9

51.3

0.9%

2.3%

2

Jakarta-Cikampek

Jakarta-Cikampek

194.9

202.2

206.1

215.0

221.7

54.7

53.8

-1.5%

3.3%

3

Jakarta-Tangerang

Jakarta-Tangerang

107.9

113.0

119.8

127.4

130.9

31.9

32.7

2.3%

5.0%

4

Prof. Dr. Ir. Sedyatmo

72.1

74.8

76.4

76.2

79.6

18.9

20.4

8.1%

2.5%

205.4

208.3

206.4

208.5

215.3

52.2

53.5

2.6%

1.2%

60.3

58.0

60.0

60.0

61.0

14.8

17.0

14.2%

0.3%

5.3

5.9

6.3

6.3

6.5

1.5

-100.0%

5.0%

82.9

89.6

97.7

23.6

24.2

2.5%

6.6%

48.1

50.4

12.2

1.4%

3.4%

Cawang-Tomang-Cengkareng 5

Jakarta Inner Ring Road

6

Padaleunyi Purbaleunyi

7

Cipularang

8

Surabaya-Gempol

Surabaya-Gempol

75.5

81.7

9

Semarang

Semarang

45.3

48.9

10 Belmera

Belmera

21.7

24.0

25.4

24.8

25.8

6.2

6.9

10.2%

4.4%

11 Palikanci

Palikanci

19.3

20.2

19.9

23.0

19.0

6.1

3.4

-45.2%

-0.4%

76.1

79.6

84.5

90.7

95.8

22.9

24.1

5.2%

5.9%

44.3

46.9

45.1

43.7

46.1

11.0

11.8

6.9%

1.0%

11.2

12.5

13.7

15.3

16.5

3.9

3.9

0.6%

10.1%

12 Jakarta Outer Ring Road

13 Ulujami-Pondok Aren

PT Jalantol Lingkarluar Jakarta

51.8

12.1

14 Bogor Outer Ring Road

PT Marga Sarana Jabar

15 Surabaya-Mojokerto

PT Marga Nujyasumo Agung

8.6

11.3

12.1

13.0

15.4

3.5

4.0

15.2%

15.5%

16 Semarang-Solo

PT Trans Marga Jateng

5.0

6.6

15.6

18.7

20.5

4.6

4.8

4.9%

42.6%

PT Jasamarga Bali Tol

-

3.3

14.3

16.5

17.5

3.9

4.4

12.4%

N/A

18 JORR W2 Utara

PT Marga Lingkar Jakarta

-

-

14.5

24.7

26.9

6.4

7.2

11.9%

N/A

19 Gempol-Pandaan

PT Jasamarga Pandaan Tol

-

-

-

2.8

5.8

1.4

1.6 15.17%

1,142.8

1,196.8

1,252.4

1,310.8

1,361.3

330.5

17

Nusa Dua-Ngurah RaiBenoa

TOTAL

Note: JORR S has been taken off from JORR traffic since March 2016

337.2

2.0%

N/A 4.5%

29

Toll Revenue by Branch/Subsidiary (billion Rupiah)

Cabang/Anak Perusahaan

2013

2014

2015

2016

1Q2016

1Q2017

∆%

CAGR

1Q17 vs. 1Q16

2012-2016

1 Jagorawi

548.2

607.5

620.2

697.0

167.1

173.0

3.5%

8.2%

2 Jakarta-Cikampek

976.6

1,023.4

1,137.8

1,232.5

300.4

319.8

6.4%

8.3%

3 Jakarta-Tangerang

408.0

467.1

507.5

580.7

141.8

145.0

2.2%

11.2%

4 Cawang-Tomang-Cengkareng

1,110.0

1,212.3

1,247.0

1,412.7

334.5

360.9

7.9%

7.4%

5 Purbaleunyi

1,017.4

1,175.9

1,197.5

1,350.6

325.9

293.2

-10.0%

9.9%

6 Surabaya-Gempol

270.5

309.0

335.8

402.0

96.9

103.0

6.4%

13.7%

7 Semarang

104.8

106.5

113.2

136.6

31.9

32.4

1.5%

8.9%

8 Belmera

81.6

91.3

90.2

105.5

25.5

27.3

6.9%

9.6%

9 Palikanci

107.5

112.4

133.0

169.5

38.5

39.9

3.8%

13.9%

1,055.0

1,182.4

1,163.7

1,010.2

298.2

269.9

-9.5%

-4.5%

5,679.5

6,288.0

6,545.9

7,097.3

1,760.6

1,764.4

0.2%

6.6%

11 PT Marga Sarana Jabar

45.6

67.2

86.9

100.2

22.6

24.5

8.6%

25.0%

12 PT Marga Nujyasumo Agung

17.6

18.8

20.1

36.0

5.6

10.2

82.0%

28.0%

13 PT Trans Marga Jateng

36.5

107.3

129.5

152.8

33.5

36.6

9.3%

53.6%

14 PT Jasamarga Bali Tol

10 PT Jalantol Lingkarluar Jakarta TOTAL PARENT LEVEL

23.7

106.1

122.7

143.3

32.1

35.6

10.8%

N/A

15 PT Marga Lingkar Jakarta

-

59.0

188.0

337.3

45.6

65.7

44.1%

N/A

16 PT Jasamarga Pandaan Tol

-

-

27.8

59.7

13.8

16.0

15.8%

N/A

123.2

358.4

575.1

829.3

153.2

188.7

23.1%

78.4%

5,802.7

6,646.4

7,121.0

7,926.6

1,913.9

1,953.0

2.0%

9.2%

TOTAL SUBSIDIARY LEVEL TOTAL

30

e-Toll Card Implementation Plan No.

1

Toll Road Section Cawang-Tomang-Pluit

2009

2010

2011

2012

2013

2014

2015

2016

1Q 2017

2.46%

5.57%

7.36%

11.69%

13.32%

14.72%

23.54%

36.25%

37.49%

14.45% 16.35%

23.95%

36.30%

37.09%

0.67%

7.36%

17.97%

19.84%

(Jakarta Inner Ring Road) 2

Prof. Dr. Ir. Sedyatmo (Airport)

2.32%

6.21%

3

Purbaleunyi

4

Jakarta-Cikampek

5

Palikanci

6

Jagorawi

7

Surabaya-Gempol

3.54%

3.30%

8

Semarang

1.59%

1.32%

9

Jakarta Outer Ring Road

10

1.13%

8.11%

0.46%

12.26%

6.78%

8.53%

9.01%

9.31%

17.10%

21.34%

0.78%

0.68%

0.75%

2.80%

4.68%

4.25%

11.80% 14.90%

12.57%

18.83%

21.32%

3.05%

7.51%

12.45%

16.17%

2.13%

10.27%

18.87%

25.91%

11.78%

14.25% 16.04%

22.33%

30.09%

35.37%

Jakarta-Tangerang

8.42%

13.51% 14.72%

20.77%

33.97%

39.19%

11

Belmera

2.29%

12

Bogor Outer Ring Road

13

Semarang-Bawen

14

Nusa Dua-Ngurah Rai-Benoa

15

JORR W2 North

3.22%

TOTAL

9.97%

2.52%

3.35%

4.36%

16.61%

22.60%

5.06%

6.57%

17.25%

22.96%

24.25%

2.44%

12.82%

20.12%

25.29%

1.95%

3.91%

9.86%

11.41%

30.99%

33.33%

24.20%

28.15%

2.93%

2.42%

5.55%

5.17%

9.25%

10.92% 11.57%

15.61%

On 21 March 2016, e-Toll payment was applicable for all SOE Bank cards in JORR, Jakarta-Tangerang and BORR.

31

THANK YOU

Jasa Marga Update 1Q 2017

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