Enhancing Kota Jababeka's Value Proposition
3 Sizeable and stable USD-denominated recurring income base
The provision of these infrastructure services has enabled the progressive build out of a significant recurring revenue base...
Total Revenue & Breakdown
Recurring revenue (IDR billion)
Recurring(1)
Real Estate (2)
2,000
35.0%
2017
1,800
1,868
1,723
1,774
30.7%
30.0%
1,592
1,600
1,349
25.0%
41%
1,400
24.6%
59%
23.6%
22.2%
21.6%
1,200
1,115
20.0%
2014
1,000
15.5%
15.0%
43%
57%
IDR 2,994 billion
800
600
10.0%
IDR 2,799 billion
2012
83%
17%
IDR 1,401 billion
400
5.0%
200
415
424
419
344
342
210
0
0.0%
2013
2014
Recurring EBITDA
2015
2016
2017
9M18
Recurring Revenue
EBITDA Margin
...based on USD pricing terms (power & water), further enhancing stability and visibility of cash flows for
Jababeka and also providing a natural hedge for its USD-denominated interest expenses...
...Furthermore, US$ 200 million notional is hedged by means of call spreads with an average lower strike
of 13,021 Rupiah and an average upper strike of 15,997 Rupiah
Notes:
1 Recurring revenue/EBITDA includes contribution from power plant, dry port and service & maintenance fees
2 Comprises real estate, golf and other non-infrastructure segments
16View entire presentation