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Premier Insight : POWR, We met with Cikarang Listrindo yesterday to have details on FY17 performance
Monday, April 09, 2018       09:43 WIB

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We met with Cikarang Listrindo ( IJ; Rp1,100; Buy) yesterday to have details on FY17 performance and here some key takeaways:
  • The company's total net sales increased by 2.8% from US$550.9mn in 2016 to US$566.1mn in 2017, mainly due to the increase in total kWh of electricity supplied by 4.1% yoy. Net sales to industrial estate customers increased by 4.3% yoy from US$401.9mn in 2016 to US$419.3mn in 2017, reflecting an increase of electricity supplied to industrial estate customers by 4.6% yoy. Net sales to PLN decreased by 1.5% yoy from US$149.0mn in 2016 to US$146.9mn in 2017 mainly due to decrease in tariffs for PLN's first contracts started in February 2016 and offset with the increase in kwh sales supplied to PLN by 3.3% yoy.
  • Energized capacity for the industrial estates reached 1,052MVA in 2017, up from 1,014MVA in the previous year. In 2017, the number of customers rose to 2,351 from the previously 2,252 customers in 2016. The increase in the number of customers and energized capacity in the five industrial estates is reflected in the increase in electricity sales figure, from 2,918GWh in 2016 to 3,052GWh in 2017, or up by 4.6% yoy. Also, Electricity sales to PLN rose from 1,883GWh in 2016 to 1,945GWh in 2017, or up by 3.3% yoy.
  • The company managed to maintain low energy losses in transmission and distribution networks at a level below 1.0%. In 2017, the Company managed to record energy losses in distribution of 0.7%, stable for the past three years. (Company).


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