Jasa Marga posts 5.8% rise in 2025 revenue

By Romel S. Gurky

State-controlled toll road operator PT Jasa Marga (Persero) Tbk (IDX: JSMR) said on Tuesday its 2025 operating revenue rose 5.8% year-on-year to Rp19.8 trillion, driven by higher toll collections.

Toll revenue reached Rp18.2 trillion, while other operating revenue stood at Rp1.6 trillion, the company said in a statement.

Earnings before interest, tax, depreciation and amortisation (EBITDA) increased to Rp13.3 trillion, with an EBITDA margin of 67%. The company reported core profit of Rp3.7 trillion, broadly stable from a year earlier.

President Director Rivan A. Purwantono said the performance was supported by revenue growth and a 10.5% decline in consolidated financial expenses, partly due to an equity financing transaction at subsidiary PT Jasamarga Transjawa Tol in late 2024. Jasa Marga retains a 65% stake in the unit.

Read also : Jasa Marga books Rp5.97 trillion net profit in Q3 2023

The company’s interest coverage ratio improved to 3.7 times in 2025, while its interest-bearing debt-to-equity ratio stood at 1.2 times.

Jasa Marga operates 1,294 km of toll roads out of 1,736 km of total concessions under its management, accounting for 42% of Indonesia’s operational toll roads. Total toll transactions rose 0.35% to 1.3 billion vehicles in 2025, with average daily traffic reaching 3.58 million vehicles.

The company is continuing construction and land acquisition for several projects, including the Probolinggo–Banyuwangi, Yogyakarta–Bawen, Solo–Yogyakarta–YIA Kulon Progo, Jakarta–Cikampek II Selatan and Patimban Access toll roads. Four of the five sections are being prepared for functional, toll-free operation to help ease traffic during the 2026 Eid holiday period.

Jasa Marga said it expects performance to improve further in 2026 through tariff adjustments, service standard compliance and optimisation of budget allocations, while maintaining financial stability.

Editing by Reiner Simanjuntak