First Quarter 2017 Jababeka Reaches Rp 712.8 Billion Revenue

INDUSTRY.co.id - Jakarta - PT Jababeka Tbk (KIJA) posted total revenues of Rp 712.8 billion in the first quarter of 2017. This revenue increased 22% compared to the same period in 2016. This growth is driven by the business land development and property pillars.

In an official statement received editorial INDUSTRY.co.id Tuesday (2/5/2017) mentioned that the business increased more than doubled, to Rp 194.6 billion in the first quarter-2017, compared with Rp 93.5 billion in Quarter I-2016.

The increase was largely driven by Kendal Industrial Park's sales contribution, which increased to Rp 95 billion in the first quarter of 2011 compared to Rp 11.7 billion in the first quarter of 2016.

Furthermore, infrastructure and leisure and hospitality pillars recorded revenue growth of 5% and 3% respectively in the first quarter of 2011 to Rp 492.1 billion and Rp 26.1 billion. Both are the result of organic growth.

The total recurring revenue from the company's infrastructure business (power plant / energy, dry port, water supply and wastewater treatment and estate management) contributed 69 percent of total sales and consolidated revenues in the first quarter of 2017, compared to 80 % In the first quarter of 2016.

In line with the achievement of total sales and revenues, the company's gross profit increased from Rp 182.1 billion in the first quarter of 2011 to Rp 248.2 billion in the first quarter of 2017. At the same time, the company's year-on-year consolidated gross profit margin increased from 31% in the first quarter of 2011 to 35% in the first quarter of 2017.

This is due to the increasing number of sales contribution from the pillars of real estate and property and the increasing margin of infrastructure business pillar. Despite the decline in the gross profit margin of land development and property from 66% in the first quarter of 2010 to 57% in the first quarter of 2017.

The decline in the gross profit margin of land development and property is mainly due to the increase in sales contribution in Kendal, which on average has a much lower margin compared to the sale of property products in Cikarang. The gross profit margin of infrastructure increased slightly, from 23 percent in the first quarter of 2016 to 25 percent in the first quarter of 2017.

Meanwhile, the gross profit margin for leisure and hospitality pillar is stable at 46%. KIJA's net profit for the first quarter of 2017 stood at Rp 66.8 billion, down 50 percent from the first quarter of 2016. This was mainly due to a net-exchange gain of Rp 116.7 billion in the first quarter of 2016 Much higher than the Rp 22.2 billion recorded in the first quarter of 2017.

If the foreign exchange gain is not calculated (omitted), then the company's net profit for the first quarter increased 180% from Rp 16 billion to Rp 44.7 billion. The net exchange gain is the net amount of the gain / loss on foreign exchange rates and the gains from the hedging contract, as well as the operating rate gains / losses, which can be found notes to the consolidated financial statements in the financial and income Other first quarter 2017.

In line with the company's total sales and revenues and gross profit, the Company's EBITDA in the first quarter of 2010 reached Rp 194.8 billion, up 40% compared to Rp 139 billion achieved in the first quarter of 2016.