Jasa Marga shows strong performance outlook driven by business fundamentals

PT Jasa Marga (Persero) Tbk (JSMR) shows a positive performance outlook driven by solid business fundamentals, asset optimization, and strategic project development. Key indicators for investors include operational performance, traffic growth, contributions from new toll road sections, and cost and funding structures.

According to Reza Priyambada, Director of PT Reliance Sekuritas Indonesia Tbk, the company's investment appeal is further enhanced by the BUMN transformation agenda and portfolio optimization by Danantara. This combination of core toll road business growth and strategic projects helps the company maintain its attractiveness within Indonesia's infrastructure and capital markets.

In the first half of 2026, Jasa Marga reported operating revenue of Rp10.31 trillion, a 7.6% year-on-year increase, supported by toll revenue of Rp9.5 trillion. EBITDA grew by 8.1% to Rp6.99 trillion, with an EBITDA margin of 67.8%. Net profit attributable to owners of the parent entity reached Rp1.91 trillion, representing a 2.0% year-on-year growth. The company's financial position remains stable with a Gearing Ratio of 1.2 times and an Interest Coverage Ratio (ICR) of 3.9 times.