Jasa Marga Reports Positive Performance in 2021 and Receives Approval for the Spin-off of the Trans Java Section during the Company's Annual General Meeting

5/7/2022 11:17:49 AM
Release

PRESS R​​ELEASE
PT Jasa Marga (Persero) Tbk​ ​
No. ​48/2022​
​​​​​​​​​​Date 27 April 2022​​​​​​​​​​​​​​​​​​​


Jakarta (04/27), PT Jasa Marga (Persero) Tbk (“Jasa Marga’) held the Annual General Meeting of Shareholders (GMS) for the 2021 Fiscal Year today, Wednesday (27/04).

In this activity, the Board of Commissioners and Directors of Jasa Marga reported positive performance throughout the year 2021, despite the COVID-19 pandemic and the implementation of transportation restriction policies during the Period of Public Participation in Local Government (PPKM).

Jasa Marga's capacity to maintain a net profit of Rp1.62 trillion in 2021 is evidence of the company's improved performance. A 22.8 percent rise in Operating Revenues was attributed to an increase in Toll Revenues of 23.1 percent and a 20 percent increase in Other Operating Revenues. New toll road sections are having a beneficial impact, which is bolstered by increasing community involvement, and this results in a rise in traffic volume over 2020.

In addition, EBITDA grew by 28.3% in 2021 in keeping with the increase in Toll Revenue. A number of new toll roads and efficiency measures by the company in 2021 helped the company achieve an EBITDA margin of 65.2 percent.

Following the resolutions of the 2021 AGMS, all of Jasa Marga's 2021 Net Profit Attributes of 1.62 trillion were set aside as reserves, with the understanding that the company currently needs to strengthen its capital structure in the midst of the COVID-19 pandemic, which has an impact on the company's operations.

PT Jasamarga Transjawa Tol (JTT) was established through an SOE restructuring program, which was approved by the AGMS in accordance with Minister of Finance Regulation No. 56/PMK/010/21/2021 concerning the Second Amendment to Minister of Finance Regulation No. 52/PMK/010/2017 concerning the Use of Book Value for Asset Transfer/Separation and Acquisition in the Context of Merger, Consolidation, Expansion, or Business Acquisition.

According to Jasa Marga, the plan to transfer the Jasamarga Transjawa Tollroad Regional Division from Jasa Marga to PT JTT includes the transfer of concession rights for four segments of the Transjawa toll road operation segment as well as the transfer of Jasa Marga's share ownership in nine Transjawa Toll Road Subsidiaries. The primary stakeholder in PT JTT, Jasa Marga, retains control and ownership of the company, holding 99 percent of the company's shares.

Due to the division into subsidiaries, PT JTT as a Subsidiary is projected to be more competitive and adaptable in making business decisions, which would allow it to generate additional value for Jasan Marga. In addition, it is projected to be able to build and manage toll road operational assets more intensely in the future, resulting in better asset utilization in the long run.

The separation is expected to provide a number of benefits to Jasa Marga and its shareholders, including increasing the company's focus on maintaining the quality of toll road development projects, having the ability to improve the company's capital structure for business development, anticipating future business opportunities, including the acquisition of strategic investments through the public offering of shares or other equity securities, and it is expected to have a positive impact on the company's financial performance.

Jasa Marga is the market leader in the toll road sector, with a total length of toll roads that will be in operation through the end of 2021 of 1,246 km, accounting for 51 percent of the entire length of toll roads in operation across Indonesia until that time. Meanwhile, the total length of toll road concessions owned by Jasa Marga through the end of 2021 will be 1,603 kilometers (km) in length throughout the country of Indonesia.

During the year 2021, Jasa Marga operated 55.94 kilometers of toll roads, including the 2.85 kilometers of BORR Toll Road Section IIIA (Yasmin-Simpang Semplak), 6.50 kilometers of Cinere-Serpong Toll Road Section I (Serpong-Pamulang), 14.19 kilometers of Cengkareng-Batuceper-Kunciran Toll Road, and 32.40 kilometers of Balikpapan-Samarinda.

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For Further Information, Please Contact: 

Dwimawan Heru 
Corporate Communication & Community Development Group Head PT Jasa Marga (Persero) Tbk. Plaza Tol Taman Mini Indonesia Indah Jakarta, 13550 Telp. (021) 841 3526 / ext. 117/118