First Quarter Of 2024, Jasa Marga Books Profit Of IDR 585.92 Billion

Illustration (Photo: Doc. ANTARA)

JAKARTA - PT Jasa Marga (Persero) Tbk (JSMR) posted a net profit of IDR 585.92 billion in the first quarter of 2024.

This figure is up 14.43 percent compared to the achievement in the first quarter of 2023.

Based on the financial statements as of April 30, 2024, JSMR recorded revenues of IDR 4.21 trillion until the first quarter of 2024.

This number increased by 24.35 percent from revenue in the first quarter of 2023.

JSMR's revenue consists of toll revenue and other businesses.

In detail, toll revenue increased to IDR 3.92 trillion and other businesses amounted to IDR 293.88 billion.

"The company's EBITDA realization was also maintained, reaching Rp2.75 trillion with a better realization of EBITDA Margin compared to the first quarter of 2023, reaching the level of 65.30 percent amid the operation of new toll roads," said Jasa Marga Corporate Secretary & Chief Administration Officer Nixon Sitorus in a written statement, Tuesday, April 30.

Nixon assessed that the consolidation of the three trans Java toll roads, namely PT Jasamarga Semarang Batang, PT Jasamarga Solo Ngawi and PT Jasamarga Ngawi Kertosono Kediri, which has also affected the company's positive achievements in this period.

In terms of operating a new toll road in early January 2024, he said, President Joko Widodo (Jokowi) has inaugurated the Pamulang-Cinere-Raya Bogor Toll Road, including the Serpong-Cinere Toll Road Section 2 of the 3.64 kilometer (km) Pamulang-Cinere section managed by PT Cinere Serpong Jaya, Jasa Marga Group's business group.

"In the first quarter of 2024, the company has also implemented a number of toll tariff adjustments, including the Cengkareng-Batuceper-Kunciran Toll Road, the Jakarta-Cikampek Toll Road Integration and the Sheikh Mohamed Bin Zayed (MBZ) Flyover and the implementation as well as tariff adjustment for the Serpong-Cinere Toll Road," said Nixon.

Nixon added that the company is committed to achieving the target that has been set as optimally as possible while controlling toll road construction activities gradually.

Until now, the company has several ongoing projects, namely the Probolinggo-Banyuwangi Toll Road, Yogyakarta-Bawen Toll Road, Solo-Yogyakarta-NYIA Kulonprogo Toll Road, South Jakarta-Cikampek II Toll Road and Patimban Access Toll Road.

Thus, the company still holds a market leader position in the toll road industry with a total length of Jasa Marga Group toll roads that have operated 1,264 km.

This represents 47 percent of toll roads operating throughout Indonesia and the company's total toll road concessions reaching 1,736 km.

"Jasa Marga is optimistic that the company's performance in 2024 will be better than last year in line with the increase in traffic volume and the implementation of a number of toll tariff adjustments in 2023 and early 2024," he added.