JAKARTA - PT Jasa Marga (Persero) Tbk reported a positive performance achievement of net profit of IDR 501.05 billion in 2020. In the general meeting of shareholders (GMS) held on Thursday, May 28, the company decided not to pay dividends this year to shareholders. .

Corporate Finance Group Head Eka Setya Adrianto said based on the resolutions of the 2020 annual GMS, the entire net profit attributed to the owners of Jasa Marga 2020 holding company amounting to IDR 501.05 billion was designated as reserves.

"Shareholders decided not to distribute dividends or 0 percent. All of last year's profit was placed as a reserve fund which will be used in principle to strengthen Jasa Marga's capital structure. Our new toll roads have been completed, but in the initial phase of operation it still takes time to to be positive, "he said in a virtual press conference, Thursday, May 27.

On the same occasion, Jasa Marga's Corporate Communication and Community Development Group Head, Dwimawan Heru said Jasa Marga was also able to maintain its EBITDA Margin to remain stable in 2020 at the level of 62 percent.

According to him, this is because the Company has made various efficiencies to compensate for the decrease in traffic volume and toll revenues as a result of the implementation of the policy to restrict community mobility.

The restrictions in question include school from home (SFH) and work from home (WFH), Large-scale Social Restrictions (PSBB) to transportation control.

"This will cause a decrease in toll revenues in 2020 to Rp.8.76 trillion," he said.

Heru said Jasa Marga's EBITDA in 2020 was recorded at Rp5.98 trillion. In addition, along with the construction of new toll roads in 2020, Jasa Marga's total assets are recorded at IDR 104.09 trillion, growing by 4.4 percent compared to 2019.

Throughout 2020, Jasa Marga has successfully completed the construction of 29.46 kilometers (km) of new toll roads. So that the total toll roads operated by Jasa Marga by the end of 2020 will reach 1,191 km. The new toll roads operated by Jasa Marga in 2020 are the Pandaan-Malang Toll Road for the Pakis-Malang Section of 3.11 km and the Manado-Bitung Toll Road for the Manado-Danowudu Section of 26.35 km.

Jasa Marga has also proven its commitment to continue to grow, by obtaining a concession for the Yogyakarta-Bawen toll road with a length of 75.82 km. The toll road with an investment value of Rp. 14.26 trillion will cross two provinces at once, namely the Province of Central Java (67.05 km) and the Special Region of Yogyakarta (8.77 km).

"With the addition of this new concession, by the end of 2020, Jasa Marga Toll Road concessions throughout Indonesia will reach 1,603 km," he said.

In terms of funding to support liquidity, Jasa Marga issued Jasa Marga Phase I Sustainable Bonds II on September 8, 2020, valued at IDR 2 trillion.

In addition, Jasa Marga issued Commercial Securities or Commercial Paper under the name of the SBK I instrument of PT Jasa Marga (Persero) Tbk 2020 for the first time with a value of IDR 566 billion, which is registered with Bank Indonesia.


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