Growing 104.32 Percent, Jasa Marga Earns Net Profit of Rp2.35 Trillion in the First Half of 2024

Rupiah (Photo: Antara)

JAKARTA - PT Jasa Marga (Persero) Tbk (JSMR) released its performance in the first quarter of 2024. Positive performance was also reflected in the company because it was able to record a net profit of IDR 2.35 trillion.

This net profit grew 104.32 percent year on year (yoy) with the realization of EBITDA at IDR 4.78 trillion.

Jasa Marga's Corporate Communication and Community Investor Relations Putri Nadya said Jasa Marga's performance growth in the first semester of 2024 was influenced by the consolidation of three toll roads, namely Semarang-Batang (JSB), Solo-Ngawi (JSN) and Ngawi-Kertosono (JNK).

"Until the first semester of 2024, Jasa Marga has succeeded in increasing operating income outside of construction revenue by 30.49 percent. This is influenced by the implementation of the buyback option in July 2023. So, three Trans Java toll roads (JSB, JSN, JNK) have been consolidated again," said Putri in the Public Expose 2024, Tuesday, August 27.

Putri added that another factor that boosted the company's net profit was the implementation of toll road tariff adjustments on 21 sections in 2023 and 6 toll roads in the first semester of 2024.

This very dominant toll component cannot be separated from the company's position as a market leader in the toll road industry with a total length of Jasa Marga Group toll roads that have operated 1,264 kilometers (km) which represents 47 percent of toll roads operating throughout Indonesia and the company's total toll road concessions reaching 1,736 km.

As for the operation of the new toll road, in early January 2024, the President of the Republic of Indonesia Joko Widodo (Jokowi) inaugurated the Pamulang-Cinere-Raya Bogor Toll Road, including the Serpong-Cinere Toll Road Section 2 of the 3.64 km Pamulang-Cinere section managed by PT Cinere Serpong Jaya, which is a Jasa Marga Group business group.

In managing the new toll road project, the company is committed to achieving the target that has been set optimally and continuing to control toll road construction activities gradually.

Currently, 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.