CMNP seeks 9% revenue growth in 2020
JAKARTA - PT Citra Marga Nusaphala Persada Tbk (CMNP) is targeting a revenue increase of 9% in 2020 in line with increasing toll tariffs and the operations of several toll roads managed by the company. Until the end of 2019, the company is targeting Rp 529 billion in revenue.
According to the company's stock exchange filing, CMNP is confident that its revenue will grow higher in 2020 due to several factors such as increasing inner-city toll road tariffs (Cawang-Tanjung Priok, Soreang-Pasir Kojaj). In addition, the Brigif Sawangan sector of the Depok-Antasari toll road will start operating in the first quarter of 2020, as will sections 1-3 of the Cisumdawu toll road operated by PT Citra Karya Jabar Tol.
CMNP and its five subsidiaries manage several toll road sections in Jakarta, Bandung, and Surabaya. The traffic volume on inner-city toll roads until November 2019 amounted to 266,980 vehicles, up from 248,073 in January 2019, while the traffic volume on the Waru-Juanda toll road amounted to 59,389 vehicles, up from 51,035, and the traffic volume on the Soreang-Pasir Koja reached 37,106 vehicles, up from 32,880, and 35,485 vehicles on the Desari toll road, up from 26,856. (LK/MS)