JAKARTA - PT Jasa Marga (Persero) Tbk (JSMR) has increased 70 percent net profit growth to IDR 2.74 trillion in 2022. The company said that asset recycling is a business portfolio management strategy to balance growth in 2022.
Jasa Marga's Corporate Communication & Community Development Group Head Lisye Octaviana said that this form of strategy, such as the company, has spined off the Regional Division of Jasamarga Transjawa Tollroad to a subsidiary of PT Jasamarga Transjawa Toll. In addition, JSMR has also signed a sales purchase agreement (SPA) between the company and PT Margautama Nusantara for PT Jasamarga Jalanlayang Cikampek, a subsidiary of PT Jasamarga Transjawa Tol which manages the MBZ Flyover.
"Jasa Marga continues its asset recycling program as part of a corporate strategy to balance business growth and sustainability," Lisye said in a written statement, quoted Monday, March 6.
Quoted from the BPJT website, the asset recycling scheme is a step in utilizing and transferring old assets, to build new assets. The goal is to build new assets to get more assets.
Furthermore, he said JSMR managed to increase concessions with the business of the Gedebage-Tasikmalaya-Cilacap Toll Road along 206.6 kilometers. This makes JSMR's concession length reach 1,906 kilometers including the length of the Solo Yogyakarta-YIA Kulonprogo toll road along 96.6 kilometers.
"Meanwhile, for the total toll road operation, the Company currently manages a total of 50 percent of toll roads operating throughout Indonesia or 1,260 kilometers long," he said.
JSMR together with PT Bukit Asam Tbk. (PTBA) has also completed the construction of a Solar Power Plant (PLTS) on the Bali Mandara Toll Road. In addition, JSMR has also signed a memorandum of understanding (MoU) with WIKA Industri Manufacturing on the Acceleration of Battery-Based Electric Motor Vehicle Programs.
He said JSMR is also trying to improve performance in the electoral phase by maintaining the fulfillment of toll road Minimum Service Standards, and controlling interest expense through refinancing efforts or debt extension.
JSMR is also trying to control toll road construction activities by ensuring the right investment credit loans. This is in order to improve the implementation of integrated technology in the toll road industry.
Based on the financial report as of December 31, 2022, JSMR recorded revenues of Rp. 16.58 trillion throughout 2022. This number increased 9.31 percent from Rp. 15.16 trillion compared to 2021. JSMR's revenue consists of toll revenue, construction, and other businesses.
In detail, toll revenue increased 15.36 percent to IDR 12.44 trillion, construction decreased 17.47 percent to IDR 2.8 trillion, and other businesses increased 35.2 percent to IDR 1.33 trillion.
JSMR recorded a profit for the year attributable to owners of the parent entity of IDR 2.74 trillion throughout 2022. This figure is up 70 percent from IDR 1.61 trillion throughout 2021.
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