Q1, Jasa Marga secured Rp497 billion net profit
This article has been translated by PwC Indonesia as part of our Indonesia Infrastructure News Service. PwC Indonesia has not checked the accuracy of, and accepts no responsibility for the content.
Investor Daily - Kuartal I, Jasa Marga kantongi laba bersih Rp497 miliar
2 May 2023
Jakarta - PT Jasa Marga (Persero) Tbk (JSMR) secured a net profit of Rp497.6 billion in the first quarter of 2023, which increased by 58% from last year. Meanwhile, their business revenue reached Rp3.4 trillion, which grew 6%.
The solid performance is mostly sustained by the increase in the people’s mobility after the government had lifted public activity restrictions (PPKM) at the end of 2022.
Jasa Marga (Persero) Corporate Communication and Community Development Group Head Lisye Octaviana said that the realisation was contributed by the toll road revenue performance that reached Rp3.0 trillion in the first quarter of 2023, which increased by 2.7% from the first quarter of 2022.
“Revenue from other businesses contributed by Rp372.2 billion, which surged by 44.4% from the previous year,” Lisye said in her official statement last weekend.
Based on the financial report in the first quarter of 2023, the state-owned toll road operator is successful.
The success of the company in their first quarter is reflected in their positive performance.
Meanwhile, the EBITDA realisation is relatively stable at Rp2.2 trillion with the EBITDA margin reaching 64.3% amid the operation of new toll segments and the increase in the people’s mobility.
According to Lisye, the success of the company in maintaining their performance in the first quarter of 2023 also strengthens JSMR’s position as the market leader in the toll road industry. The total length of Jasa Marga’s operational toll roads reaches 1,260 KM or 50% of the operational toll roads in Indonesia.
On the other hand, the company’s toll road concessions in the same period reach 1,736 KM in Indonesia. “The concessions include Patimban Access Toll Road spanning 37.05 KM that is managed by PT Jasamarga Akses Patimban (JAP), which is a toll road enterprise in the SOE (State-owned Enterprise)-Private-BUMD (Regional-owned Enterprise) Consortium,” Lisye explained.
