PT Jasa Marga (Persero) Tbk Class B · IDX:JSMR
PT Jasa Marga (Persero) Tbk Class B — Investor Presentation (August 2024)
28 slides from PT Jasa Marga (Persero) Tbk Class B's investor presentation, August 2024
Slide 1: JSMR Update 2024 Corporate Presentation
JSMR UPDATE 2024 Corporate Presentation August 2024
Slide 2: Company Profile
SUMNexx... @ sasamarca = Company Profile
Slide 3: Jasa Marga's Overview and Main Line of Business
Company Profile Jasa Marga’s Overview and Main of Business JSMR Key Information JSMR – 3 Line of Business Indonesian Stock Exchange: Ticker JSMR Toll Road Concession Operations Prospective IPO Date 12 Nov 2007 Business Line Business Line Business Line Share Price* IDR4,980 (USD0.301) Transaction 7,2
Slide 4: Company Toll Road Network
Company Toll Road Network JSMR’s Toll Road Concession Business Portfolio Spreads Across Indonesia Jasa Marga has 36 toll road concessions covering 1,736 km and operates 1,264 km of toll roads. Jasa Marga's business spans across Indonesia, where most of the toll roads are already connected, creating
Slide 5: Industry Overview
SUMNexx... @ sasamarca Industry Overview
Slide 6: Toll Road Industry at a Glance
Toll Road Industry at a Glance Long-term Investment Business Characteristic with Solid Revenue Stream Toll Road Concession Business Characteristics Source of Funding for Toll Road Projects New Investment Source of Funding 70% External Financing 30% • For greenfield project Equity Injection financing
Slide 7: Toll Road Industry at a Glance: Supportive Regulation
Toll Road Industry at a Glance Supportive Indonesian Toll Road Regulation, Maintaining Investment Climate Conduciveness Regulator Structue Commercially Supportive Regulations Body Role Concession Model Land Acquisition Funding Scheme Support • Long-term, 35 to 50 year, • The Government is responsibl
Slide 8: Performance Highlight
SUMNexz:.. @ sasamarca 7 Performance Highlight : if cf | Manado-Bitung Toll Road
Slide 9: JSMR Share Price Performance & Shareholder Composition
JSMR Share Price Performance & Shareholder Composition Adding Value Through Managing Company’s Fundamental Performance Shareholder Composition Share Price Performance (1-Year) 28 June 2024 Ownership 4,980 % No. of Shares Ownership 31.05% Government of Indonesia Dwi Warna Share 1 Share Seri B 5,080,5
Slide 10: Financial Highlights 1H2024
Financial Highlights 1H2024 Delivering Financial Performance Target Total Revenue Total Expenses * Corporate Action Effect (in trillion IDR) (in trillion IDR) JSMR consolidated back Semarang-Batang +13.92% +10.54% (JSB), Solo-Ngawi (JSN) and Ngawi- 10 Kertosono (JNK) toll roads after exercising 9.11
Slide 11: Financial Highlights 1H2024
Financial Highlights 1H2024 Delivering Financial Performance Target EBITDA EBITDA Net Income Adjustment of PMK 72 (in trillion IDR) (in trillion IDR) +16.71% improved as aligned with revenue growth and +104.32% JSMR initially used a 20-year amortization period additional EBITDA from for most toll ro
Slide 12: Financial Highlights 1H2024: Covenant Ratios
Financial Highlights 1H2024 Balancing Financial Performance to Preserve Company’s Sustainability Covenant Ratio Financial Ratios Interest Bearing Debt to Total Equity (x) Able to manage the financial health while doing business expansion at the same time. Improved its covenants performance in 1H
Slide 13: Preserve Financing Cost
Preserve Financing Cost Capability to Manage Cost of Debt for Achieving Profitability WACD Growth Fixed Rate & Floating Rate Composition 120% JM Group 100% 6.54% 6.66% 6.76% 6.73% 6.73% 6.72% 6.72% 6.71% 6.67% 6.69% 6.69% 6.69% 6.69% 6.70% 6.67% 6.67% 6.70% 6.71% 80% 6.25% 6.25% 6.25% 55% 55% 5.75%
Slide 14: Company Development Strategies & Operational Highlights
Company Development Strategies & Operational Highlights
Slide 15: Toll Revenue: Mature Toll Roads vs New Toll Roads
Toll Revenue: Mature Toll Roads vs New Toll Roads Expecting Higher Revenue Contribution from Our Toll Road Projects Toll revenue contribution to total revenue from the new toll roads (which are operated by subsidiaries & joint ventures) increased from time to time as the impact of the addition of ne
Slide 16: Historical Toll Road Segment Traffic Volume
Historical Toll Road Segment Traffic Volume Company’s opportunity to grow from new toll roads expansion Historical Segment Traffic Volume The extensive deployment of new toll roads since 2019, including the linkage of the Trans-Java Toll, has emerged as a catalyst for boosting traffic volume through
Slide 17: Capacity vs Utilization
Capacity vs Utilization Ensuring optimal utilization of toll roads so the traffic volume can grow optimally Average Volume/Capacity Ratio (VCR) as of June 2024 and Number of Lanes In general, the optimal VCR is 0.8. When a toll road reaches a VCR of 0.8 or higher, widening or expanding the toll road
Slide 18: Toll Road Connectivity Impact
Toll Road Connectivity Impact Jakarta Outer Ring Road (JORR) 2 Performance Highlight The JORR 2 toll road (inc. CSJ, MTN, and JKC), has experienced a marked enhancement in both revenue and traffic following the implementation of full connectivity, commencing in late December 2023. This surge is evid
Slide 19: Toll Road Development Focus
Toll Road Development Focus Company’s Key Priorities in Developing New Toll Roads New Projects to be Completed : 5 Projects New Projects to be Completed : 5 Projects Section Length (km) 5 2024 Jakarta-Cikampek II South (Section III) 31.25 1 (± 54 km) Jogja-Solo (Section 1A) 22.30 Probolinggo-Banyuwa
Slide 20: Tariff Adjustment Realization
Tariff Adjustment Realization Realization of Toll Road’s Tariff Adjustment and Its Percentage No Year Toll Road Implementation Tariff Increase (%) 1 Pandaan-Malang Tuesday, January 3, 2023 3.20 2 Semarang ABC Tuesday, January 31, 2023 5.56 3 Bogor Outer Ring Road Sunday, March 12, 2023 7.14 4 Kuncir
Slide 21: Company's Performance Guidance
Company’s Performance Guidance Eager to improve main and supporting business process to achieve the target 2022 2023 1H24 Consolidated Actual Actual Actual 2024 Guidance Toll Road Revenue Growth 17.0 12.1 36.6 >17 [%] EBITDA Growth [%] 13.1 14.2 47.9 >15 EBITDA Margin [%] 63.0 63.7 67.3 65 – 66 Gear
Slide 22: Thank You
Thank You PT Jasa Marga (Persero) Tbk. Plaza Tol Taman Mini Indonesia Indah Jakarta 13550 – Indonesia www.jasamarga.com
Slide 23: Attachment
@© snsamarca Attachment
Slide 24: Financial Highlights: Income Statement
Financial Highlights Income Statement (in billion IDR) 2018 2019 2020 2021 2022 2023 1H2023 1H2024 ∆Rp ∆% CAGR (Limited 1H23 vs 1H23 vs Consolidated Financial Statement (Audited) (Audited) (Audited) (Audited) (Audited) (Audited) (Unaudited) 2018-2023 Review) 1H24 1H25 Toll Revenue 9,036 10,131 8,763
Slide 25: Financial Highlights: Balance Sheet
Financial Highlights Balance Sheet (in billion IDR) 2018 2019 2020 2021 2022 2023 1H2024 ∆Rp ∆% Consolidated Financial Statement (Audited) (Audited) (Audited) (Audited) (Audited) (Limited Review) (Unaudited) Cash and Cash Equivalent 5,943 4,342 4,597 6,279 8,429 4,439 4,707 (1,840) -29.3% Other Curr
Slide 26: Financial Highlights: Revenue Breakdown
Financial Highlights Revenue Breakdown (in billion IDR) ∆ ∆% No Mature Toll Road / New Toll Road 2018 2019 2020 2021 2022 2023 1H2023 1H2024 1H2023 vs. 1H2023 vs. CAGR 1H2024 1H2024 1 Jakarta - Bogor - Ciawi 816.4 877.5 811.7 941.5 1,029.5 1,142.6 542.8 592.9 50.1 9.2% 7.0% 2 Jakarta - Cikampek 1,15
Slide 27: Operational Highlights: Traffic Volume
Operational Highlights Traffic Volume Transaction Breakdown (in million vehicles) ∆ ∆% No Mature Toll Road / New Toll Road 2018 2019 2020 2021 2022 2023 1H2023 1H2024 1H2023 vs 1H2023 vs CAGR 1H2024 1H2024 1 Jakarta - Bogor - Ciawi 148.50 151.90 123.05 131.36 145.90 151.47 73.90 75.59 1.69 2.3% 0.4%
Slide 28: Toll Road Development Focus: Upcoming Projects in Details
Toll Road Development Focus Jasa Marga’s Toll Road Upcoming Projects in Details *) as of 19th July 2024 Greater Jakarta Area – 1 Project Java – 4 Projects 4 Probolinggo – Banyuwangi (175.90 km) Stage I : Probolinggo - Besuki (49.68 km) 2 • Section 1 : Gending – Kraksaan Akses Patimban (37.05 km) Pro
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