Jasa Marga Books Net Profit Of IDR 1.15 Trillion In Semester I 2023, Up 56.3 Percent

Rupiah (Photo: Antara)

JAKARTA - PT Jasa Marga (Persero) Tbk managed to maintain a positive performance throughout the first semester of 2023. During that period, the company managed to record a net profit of IDR 1.15 trillion, an increase of 56.3 percent when compared to the first semester of last year.

Jasa Marga's Investor Relations Department Head, Milka Theodora said, the company's positive performance improvement was also reflected in the achievement of operating income of IDR 6.98 trillion.

"This number grew 4.9 percent when compared to the same period in the previous year," said Milka in an online Public Expose Live 2023, quoted on Tuesday, November 28.

Milka said Jasa Marga could still increase operating income outside of construction, profit growth, and maintain better financial ratio performance in the first semester of 2023. This is in line with the increase in traffic volume and the impact of homecoming and the return of Eid al-Fitr in April 2023.

According to him, Jasa Marga's performance growth in 2023 on an annual basis or year on year (yoy) was also influenced by the deconsolidation of the MBZ Flyover as a consequence of divestment in the section in October 2022.

"In terms of business income outside the construction if a calculation of revenue growth is carried out using the same assumption without the MBZ Flyover toll road revenue, business revenue growth reaches 12 percent yoy," said Milka.

He claimed that the company still holds the market leader position in the domestic toll road industry.

It is noted that Jasa Marga has operated a 1,260 km toll road, which represents as much as 48 percent of the toll roads operating throughout Indonesia.

"In early 2023, Jasa Marga obtained a new toll road concession, namely the Patimban Access toll road which is managed by PT Jasamarga Access Patimban (JAP). That way, the company's total length of the concession toll road is 1,736 km, of which 1,260 km have been operating," said Milka.

Jasa Marga also targets to operate the 3.64 km Serpong-Cinere Section 2 Toll Road by the end of 2023.

"The operation of the toll road is expected to encourage connectivity, especially in the Jabodetabek area which will connect the JORR 2 toll road network," he said.

It is known that the company is also focusing on the completion of five toll road projects that are currently underway, namely the Jakarta-Cikampek II South Toll Road, Patimban Access Toll Road, Yogyakarta-Bawen Toll Road, Solo-Yogyakarta NYIA Kulonprogo Toll Road, and Probolinggo-Banyuwangi Toll Road.

"With the increasing number of new toll road projects being completed and starting to operate, Jasa Marga's financial ratio in Semester I 2023 is better than the previous year," he added.