Jababeka Books Rp426 M in Net Income for 2016

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PT Jababeka Tbk (KIJA) has announced the company’s net income increased by 29%. The company booked a net income of Rp426.5 billion in 2016, compared with Rp331.4 billion in 2015.

In a written statement Monday (4/3) KIJA said the main contributor to the increase was the foreign exchange (forex) gain of Rp132.7 billion recorded in 2016, while in 2015 the company experienced forex loss at Rp116.2 billion.

The amounts above are the sum of financial forex gains/losses and gains on the hedging contracts, as well as operating forex gains and losses. It can be found in the financial income/expense section of the company’s 2016 audited annual report

For the marketing sales of real estate, KIJA booked Rp1.56 trillion in 2016. This figure exceeded 11 percent of the target of Rp1.4 trillion and also exceeded more than 50 percent of the achievement in 2015 of Rp1 trillion. In 2016, the sales in Cikarang remain a major contributor in marketing sales of Rp1.15 trillion, covering ​​21 hectares of land. This is in line with the target in 2016.

An encouraging achievement of pre-sales came from the industrial park in Kendal amounting to Rp359 billion (for ​​26 hectares of land), far beyond the 2016 target of Rp250 billion. This value significantly helps the results of sales in Cikarang. Tanjung Lesung and other products added Rp55 billion in marketing sales in 2016.

The relative contributions from the pre-sales of land plots in Kendal and the apartment affected the overall gross profit margin for real estate and property which dropped to 76% in 2016, compared with 82% in 2015.