Analisis Kinerja Keuangan PT Jasa Marga Tbk Sebelum dan Setelah Privatisasi

Abstract

PT Jasa Marga as BUMN has been struggling to do some improvement through Initial Public Offering (IPO) since November, 1st 2007. This research is done to (1) Analyses finances condition trend PT Jasa Marga Tbk during 2004-2013 period then predict during 2014-2015. (2) Compares between financial performance Jasa Marga during four periode before privatization and after privatization. (3) Explains significant factorin financial performance average ratio Jasa Marga, after enterprise is private. The analysis results finances condition trend PT Jasa Marga Tbk shows that enterprise balance and profit end to increase during 2004-2013, and estimated to increase during 2014-2015. While financial performance analysis shows that enterprise solvabilitity level is tend to decrease. Next, liquidity level, profitability, and enterprise activity ends to riseduring 2004-2013. After signification test is done, it shows some increased scores after privatization which is experienced by average cash ratio, current ratio, ROE, DER and DAR, is not affects significantly. The increasing value which is affects significantly are ROA, NPM and TATO.