CMNP Optimistic To Achieve Significant Revenue Increase In 2025

Photo: Special

JAKARTA - PT Citra Marga Nusaphala Persada Tbk (CMNP) expressed high optimism regarding the projected increase in significant consolidated revenues by 2025, which is estimated at IDR 4.865 trillion.

The consolidated revenue projection in 2025 showed an increase of 35.87 percent compared to 2024 which was recorded at IDR 3.119 trillion. This increase was triggered by several factors, including an increase in traffic volume in several toll roads, as well as a tariff adjustment on a number of toll roads managed by the CMNP Group. In addition, revenue from construction services through subsidiaries, namely PT Girder Indonesia, also contributed positively to the increase.

On the same occasion, the Independent Director of PT CMNP, Hasyim, explained the company's performance throughout 2024 and the positive prospects that are expected to be achieved by 2025.

"We are very optimistic about future prospects. The increase in revenue and management of toll infrastructure projects will be a strong foundation for our growth in 2025," said Hasyim, in Jakarta, Tuesday, December 10.

In 2024, PT CMNP managed to record a consolidated operating profit of IDR 1.801 trillion, an increase of 3.67 percent compared to the previous year. The consolidated EBITDA also increased to IDR 2.014 trillion, from the previous IDR 1.925 trillion.

Meanwhile, EBITDA from the toll road sector increased to IDR 1.965 trillion, compared to 2023 which was recorded at IDR 1.810 trillion. Meanwhile, the projected consolidated operating profit in 2025 was IDR 2.002 trillion, an increase of 10.04 percent compared to 2024.

The Company's total consolidated assets also increased in 2024, which amounted to IDR 23.492 trillion, an increase of 8.16 percent compared to the previous year which was recorded at IDR 21.576 trillion.

As well as projected total consolidated assets in 2025, it is IDR 30.617 trillion, an increase of 23.27 percent from 2024. This increase in assets is driven by the progress of project development, including the Harbour Road 2 project and Desari section 3 and 4.

This is in line with the increase in the company's total consolidated liabilities. In 2024 the Company recorded consolidated liabilities of IDR 9,521 trillion, an increase of 10.04 percent compared to the previous year which was recorded at IDR 8,565 trillion.

As well as projected total consolidated liabilities in 2025, which is IDR 14.693 trillion, an increase of 36.37 percent. This increase in consolidated liabilities was due to an increase in the number of bank loans in the CMNP Group, which was used for funding for the Harbour Road 2 project, the Desari project section 3 and 4, as well as payment of contractor debt for the Cisumdawu toll road project.

In addition, the Company recorded consolidated equity of Rp. 13,971 trillion, which increased from the previous year, which was Rp. 13,011 trillion. As well as the consolidated equity project in 2025 is Rp. 15,654 trillion, an increase of 10.75 percent. This is due to the implementation of exercise warrants in 2024 and 2025.

Djoko Sapto, Independent Director of PT CMNP, also said that the 9.69 KM-long construction of the Harbour Road II Elevated Toll Road project had reached 20.97 percent in December 2024.

"We are targeting a projected project of 48.99 percent by 2025, so that the accumulation of construction progress in 2025 can reach 69.97%. For the Antasari Depok - Salabendeng toll 3 and 4 section projects, we are still in the land acquisition stage, which has been realized by 42.63 percent. We hope that this development will be completed in 2026 and can be integrated with the Bogor Ring Road toll road," explained Djoko.

In an effort to improve services to road users, PT CMNP is also in the process of building a type A rest area on the Cileunyi - Sumedang Dawuan toll road, which will be equipped with various facilities, such as the Independent Cash Pavilion (ATM), health clinics, toll card refill facilities, supermarket minis, gas stations, places of worship, as well as parking facilities for more than 200 class I vehicles and 50 class II / III / IV / V vehicles.

This rest area will also provide facilities for people with disabilities, charging electric vehicle batteries, waste management, and fire fighting facilities.

The capital expenditure (capex) is IDR 2.893 trillion in 2024 and IDR 8.240 trillion in 2025, including the Harbour Road 2 project, the Antasari Depok toll road 3 and 4 Salabend, the contractor's debt payment for the Cisumdawu project, and the Rest Area Development on the Cisumdawu toll road. The financing of these projects includes the Company's operational cash, bank loans and the exercise quarantine.

With various achievements and ambitious plans, PT CMNP is increasingly showing its commitment to continue to develop and make a significant contribution to to toll road infrastructure in Indonesia.