Toll Road Manager, CMNP Targets Revenue Of IDR 3.24 Trillion In 2021

Illustration. (Angga Nugraha / VOI)

JAKARTA - PT Cipta Marga Nusaphala Persada Tbk (CMNP) is targeting total operating revenue in 2021 to be IDR 3.24 trillion or higher than the projected operating income in 2020 which is IDR 2.26 trillion.

"Our projection of revenue in 2021 is IDR 3.24 trillion. Indeed, revenue by the end of 2020 is estimated to fall to IDR 2.26 trillion from 2019 which reached IDR 3.53 trillion. This decrease is due to the COVID-19 conditions, related to construction work," said the CMNP Director, Hasyim during a Public Expose in Jakarta, Tuesday 15 December.

Hasyim revealed that the estimated operating expenses in 2021 amounted to Rp.2.24 trillion, or greater than the projected operating expenses in 2020 which amounted to Rp1.5 trillion.

"We will adjust the load amount to the conditions of COVID-19. All operational activities will apply the principle of efficiency," he said.

Thus, according to him, CMNP's net profit in 2021 is estimated at IDR 485 billion or higher than the projected net profit in 2019 which is IDR 264 billion.

"Our projected net profit in 2020 will decline from 2019 which amounted to Rp690 billion. However, we are fortunate that we are still recording positive profits, even though many companies are losing money during the pandemic," said Hasyim.

Hasyim conveyed, CMNP is optimistic that next year economic conditions will improve again, in line with the normal tendency of community activities as reflected in the projection of average daily traffic (LHR).

The company estimates that in 2021 the LHR for the inner city toll road (JIUT) will total 408,800 vehicles, the WaruJuanda Toll Road as many as 41,449 vehicles, the Soroja Toll Road as many as 35,030 vehicles and the Desari Toll Road as many as 55,618 vehicles.

"The last two months of this year LHR Soroja reached 34 thousand vehicles and Desari as many as 50 thousand," he added.

Hasyim said that in 2021 the company will allocate Rp 5 trillion for capital expenditure (capex) for work on the Cisumdawu, Desari and HBR II Elevated toll roads.

"The funds will come from the proceeds from the Rights Issue II amounting to Rp1.39 trillion, as well as a combination of bank loans and bond issuance which we are currently reviewing," said Hasyim.