Jasa Marga reports Q1 net profit of Rp392.8 billion

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State-run toll road operator PT Jasa Marga (Persero) Tbk posted a net profit of Rp392.8 billion (US$26.79 million) in the first quarter of this year, an increase of 142.7 percent year on year.

“We have been able to have a very positive performance in the first quarter of 2022 in the midst of Indonesia’s economic condition, which keeps recovering from the pandemic,” the company’s corporate communication and community development group head, Dwimawan Heru, said in a statement issued here on Friday.

The total operating revenues of the enterprise were recorded at Rp3.2 trillion (US$218.3 million), up 16 percent year on year.

The number comprised toll revenues of Rp2.9 trillion (US$197.84 million) as well as other operating revenues of Rp257.8 billion (US$17.58 million).

“The operation of new toll road sections and a surge in community mobilization increased the traffic volume,” the official said.

Jasa Marga’s earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 12.7 percent or Rp2.2 trillion (US$150.08 million), with the EBITDA margin reaching 68.1 percent, he informed.

In the first quarter of 2022, the company started operating the Danowudu-Bitung section of the Manado-Bitung Toll Road in North Sulawesi province. The highway spans 13.42 kilometers (km).

Jasa Marga also strived to develop new toll roads, such as the Gedebage-Tasikmalaya-Cilacap Toll Road, in the first quarter of 2022.

The company’s state-private consortium, toll road business entity (BUJT) PT Jasamarga Gedebage Cilacap (JGC), signed the Toll Road Concession Agreement (PPJT) for the highway.

The section will become the longest toll road in Indonesia, stretching over 206.65 km. The investment for the road is pegged at Rp56 trillion (US$3.82 billion), with a concession period of 40 years.

Through these efforts, Jasa Marga is leading the Indonesian toll road market. The company owns 1,260 km or 51 percent of the total toll roads operating throughout the country.

Source: Antara News