Jasa Marga Revenue Reaches IDR 11 Trillion To The Third Quarter Of 2023, Up 7.7 Percent

JAKARTA - PT Jasa Marga (Persero) Tbk (JSMR) recorded operating revenues of IDR 11 trillion until the third quarter of 2023.

Jasa Marga Corporate Secretary & Chief Administration Officer Nixon Sitorus said the achievement reflected growth of 7.7 percent on an annual basis or year on year (yoy).

The increase was driven by the contribution of toll revenue which reached Rp9.8 trillion, an increase of 5.1 percent yoy.

At the same time, the performance of other operating incomes reached IDR 1.2 trillion, aka a 34.8 percent jump compared to the same period the previous year.

It is known, JSMR recorded operating revenues of Rp. 14 trillion as stated in the Financial Report as of September 2023, including construction revenues.

However, construction revenue is not calculated as legitimate income due to its non-cash nature.

"The realization of the company's ebitda has also increased, reaching Rp6.8 trillion, an increase of 5.7 percent from the third quarter of 2022 with the realization of the margin ebitda reaching the level of 62.1 percent," Nixon said in a written statement, Tuesday, December 5.

Nixon assessed that the company's revenue and ebitda grew amid the operation of new toll roads and increased community mobilization which became a positive catalyst for the increase in the company's traffic volume.

In addition, the company recorded total assets of IDR 124.9 trillion and recorded a net profit of IDR 5.97 trillion.

The net profit of IDR 4.1 trillion is the impact of fulfilling the 22 Financial Accounting Standard Statement (PSAK) on the Combination of Business.

This was related to the consolidation of PT Jasamarga Semarang Batang (JSB), PT Jasamarga Solo Ngawi (JSN), and PT Jasamarga Ngawi Kertosono Kediri (JNK) through the acquisition of shares of PT Lintas Marga Jawa (LMJ) by PT Jasamarga Transjawa Tol (JTT) in July 2023.

He added, on July 27, 2023, PT Jasamarga Transjawa Tol (JTT) made a buyback unit for the Participation of the Mandiri Limited Participation Fund (RDPT) Trans Java Equity Infrastructure (MIET).

In addition to RDPT MIET, in October 2022, Jasa Marga divested the MBZ Flyover managed by PT Jasamarga Jalanlayang Cikampek (JJC). The two corporate actions influenced the company's performance on an annual basis.

Even so, Nixon stated that without taking into account the two corporate actions, JSMR was still able to increase operating income and ebitda until the third quarter of 2023.

In detail, JSMR achieved operating income of IDR 10.57 trillion or grew 10.6 percent on an annual basis.

The company's ebitda realization was IDR 6.46 trillion, an increase of 8.9 percent compared to the same period in 2022, which was IDR 5.93 trillion.

Meanwhile, the company's core profit until the third quarter of 2023 was IDR 1.86 trillion, an increase of 84.9 percent compared to last year.