Profile

Industry Sector Infrastructure, Utilities & Transportation
Industry Sub Sector Toll Road, Airport, Harbor and Allied Products
Established 1 March 1978
Listed 12 November 2007
Listed Company Code JSMR
Listed Shares 7,257,000,000
Dividend Yes
Major Shareholders (>5%) Government of Indonesia (70%)
Key Subsidiaries Jalan tol Lingkar luar Jakarta
Marga Sarana Jabar
Trans Marga Jateng
Jasamarga Bali Tol

Stock Quote Jasa Marga - JSMR:

Business Summary

Jasa Marga's core business is to plan, build, operate and maintain toll roads in Indonesia. Up to the end of 2013, the company has 22 toll road concessions - with a total length of 545 kilometer - in operation and 193 kilometer of toll road that is expected to become operational between 2013 and 2016. Thus, at end 2016, Jasa Marga is expected to operate toll roads with a combined length of 738 kilometer, which implies a 35 percent increase in toll road length compared to late 2013.

Most of Jasa Marga's toll roads are situated in - or around - the Greater Jakarta area in West Java, Indonesia's most densely populated area. The company also operates toll roads in East Java, Central Java, North Sumatra and Bali.

Jasa Marga's Toll Road Network (2017):

Operational Highlights Jasa Marga:

  2009 2010 2011 2012 2013 2014 2015  2016
Toll Roads Length
(kilometer)
 531  531  545  554  560  561  575   593
Toll Road Concession Rights
(kilometer)
 738  738  799  987 1,260
Traffic Volume Transaction
(billion vehicles)
0.92 0.96 1.09 1.20 1.26 1.32 1.38  1.06
Average Daily Traffic
(million vehicles)
 2.5  2.6  3.0  3.3  3.5  3.6  3.8  
Average Daily Toll Revenue
(billion IDR rupiah)
 9.9 11.8 13.3 15.3 15.9 18.2 19.5  22.0

Source: Jasa Marga Annual Report 2016

Financial Highlights Jasa Marga:

    2014   2015   2016   2017
Revenue  9,173  9,848 16,661 35,092
Gross Profit  3,689  4,127  4,856  5,308
Operating Income  3,072  3,477  4,166  4,648
Net Profit  1,421  1,466  1,889  2,200
EBITDA
Total Assets 31,858 36,725 53,500 79,193
Total Liabilities 20,433 24,356 37,161 60,833
Earnings
per Share¹
  209   216   277   303
Cash Dividend
per Share¹
   72    43    78
Total Revenue
to Length of Toll
Roads Ratio²

 11.85  12.33  13.37

 

    2009   2010   2011   2012   2013
Revenue  3,692  4,379  6,486  9,070 10,271
Gross Profit  3,609  2,245
Operating Income  1,516  1,988  2,330  2,975  2,259
Net Profit    993  1,194  1,196  1,602  1,027
EBITDA 2,022.2  2,555.2 3,137.8 3,876.8
Total Assets 16,174 18,952 20,916 24,754 28,059
Total Liabilities  8,360 10,593 12,555 14,966 17,501
Earnings
per Share¹
   147    176    177    236   151
Cash Dividend
per Share¹
  87,91  105,69   78,88   94,24    79
Total Revenue
to Length of Toll
Roads Ratio²

   6.84    8.11    8.89   10.24  10.36

in billion IDR rupiah unless otherwise stated
¹ in IDR rupiah
² (billion IDR/km)
Source: Jasa Marga Annual Report 2016 & FY-2017 Financial Report

Apart from adding toll roads length through tenders, Jasa Marga also obtains toll road concessions through acquisition as well as through unsolicited method. It may acquire new (potential) toll roads whose concession holders face obstacles in development of the project, in particular those located in major cities that have high economic value and are connected to the company's existing toll roads.

The lack of sufficient quality and quantity of infrastructure in Indonesia has been barring economic as well as social development to reach its full potential. The country's recent robust macroeconomic growth burdens on its infrastructure as it needs to absorb significantly increased economic activity. A lack of investments caused the country's infrastructure not able to grow along with economic activity. The government is aware of the need for huge investments in the country's infrastructure but up to the present there has been more planning than much-needed action. On the positive side, it means that Indonesia's infrastructure sector has much room for growth and Jasa Marga is one of the companies that can play a prominent role in the development process, particularly due to its close connection to the government.

Location

Contact Details

Plaza Tol Taman Mini Indonesia Indah
Jakarta - 13550
Phone: +62 21 841 3526
Fax: +62 21 840 1533
Email: okke@jasamarga.co.id;
www.jasamarga.com