Pt Jasa Marga (persero) Tbk Class B · IDX:JSMR
Pt Jasa Marga (persero) Tbk Class B — Q1 2024 Earnings Presentation
29 slides from Pt Jasa Marga (persero) Tbk Class B's earnings presentation, March 2024
Slide 1: JSMR Update 2024 Corporate Presentation
JSMR UPDATE 2024 Corporate Presentation March 2024
Slide 2: Company Profile
—- SUMNexs:.. @ sasamarca = Company Profile
Slide 3: Company Profile
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* IDR5,550 (USD0.401) Transaction 6,5
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
SUMNexs:.. @ sasamarca Industry Overview 9 Manggar Bridge, Balikpapan-Samarinda Toll Road
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
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
SUMNexs:.. @ sasamarca i 2023 Performance Highlight
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) 5,550 70.77% 28 Maret 2024 Ownership % No. of Shares Ownership Government of Indonesia Dwi Warna Share 1 7,289 Share Seri B
Slide 10: 2023 Performance Highlight
2023 Performance Highlight Successfully achieving the company’s targets in all of business aspects New Toll Road Concession New Toll Road Operation Tariff Adjustment Akses Patimban (±37.05 km) Cinere-Serpong Section 2 (±3.64 km) Implemented in 21 toll roads JSMR Market Share JMTO Market Share JMTM M
Slide 11: Financial Highlights
SUMNexs:.. @ sasamarca Financial Highlights 9 Manggar Bridge, Balikpapan-Samarinda Toll Road
Slide 12: Financial Highlights 1Q2024
Financial Highlights 1Q2024 Delivering Financial Performance Target Total Revenue Total Expenses * Corporate Action Effect (in trillion IDR) (in trillion IDR) JSMR consolidated back Semarang-Batang +23.74% +6.64% (JSB), Solo-Ngawi (JSN) and Ngawi- Kertosono (JNK) toll roads after exercising 2.30 5 t
Slide 13: Financial Highlights 1Q2024
Financial Highlights 1Q2024 Delivering Financial Performance Target EBITDA EBITDA Margin Net Income (in trillion IDR) (in trillion IDR) +3.30% +14.43% 65.30% 2.75 64.26% 2.66 0.59 0.49 0.57 0.51 +26.38% 2.18 2.18 1Q2023 1Q2024 1Q2023 1Q2024 1Q2023 1Q2024 EBITDA exclude RDPT Effect RDPT Effect EBITDA
Slide 14: Financial Highlights 1Q2024
Financial Highlights 1Q2024 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 1Q
Slide 15: Preserve Financing Cost
Preserve Financing Cost Capability to Manage Cost of Debt for Achieving Profitability WACD Growth Fixed Rate & Floating Rate Composition 6.46% 6.51% 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% 120% JM Group 100% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 5.25%
Slide 16: Company Development Strategies & Operational Highlights
Company Development Strategies & Operational Highlights
Slide 17: 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 18: 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 March 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 roa
Slide 19: 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 20: 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 (Solo-Klaten) 22.30 Probolinggo-Banyuw
Slide 21: 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 22: Company's Performance Guidance
Company’s Performance Guidance Eager to improve main and supporting business process to achieve the target 2022 2023 1Q24 Consolidated Actual Actual Actual 2024 Guidance Toll Road Revenue Growth 17.0 12.1 30.0* 15 – 17 [%] EBITDA Growth [%] 13.1 14.2 26.4* >15 EBITDA Margin [%] 63.0 63.7 65.3 64– 66
Slide 23: Thank You
Thank You PT Jasa Marga (Persero) Tbk. Plaza Tol Taman Mini Indonesia Indah Jakarta 13550 – Indonesia www.jasamarga.com
Slide 24: Attachment
@ nsamarca Attachment
Slide 25: Financial Highlights - Income Statement
Financial Highlights Income Statement (in billion IDR) 2018 2019 2020 2021 2022 2023 1Q2023 1Q2024 ∆Rp ∆% CAGR Consolidated Financial Statement (Audited) (Audited) (Audited) (Audited) (Audited) (Audited) (Unaudited) (Unaudited) (YoY) (YoY) 2018-2023 Toll Revenue 9,036 10,131 8,763 10,786 12,444 13,9
Slide 26: Financial Highlights - Balance Sheet
Financial Highlights Balance Sheet (in billion IDR) 2016 2017 2018 2019 2020 2021 2022 2023 1Q2024 ∆Rp ∆% Consolidated Financial Statement (Audited) (Audited) (Audited) (Audited) (Audited) (Audited) (Audited) (Audited) (Unaudited) Cash and Cash Equivalent 4,125 6,873 5,943 4,342 4,597 6,279 8,429 4,
Slide 27: Financial Highlights - Revenue Breakdown
Financial Highlights Revenue Breakdown (in billion IDR) ∆% No Mature Toll Road / New Toll Road 2018 2019 2020 2021 2022 2023 1Q2023 1Q2024 1Q2023 vs. CAGR 1Q2024 1 Jakarta - Bogor - Ciawi 816.4 877.5 811.7 941.5 1,029.5 1,142.6 270.2 293.5 8.6% 7.0% 2 Jakarta - Cikampek 1,155.2 1,285.1 1,321.7 1,335
Slide 28: Operational Highlights
Operational Highlights Traffic Volume Transaction Breakdown (in million vehicles) ∆% No Mature Toll Road / New Toll Road 2018 2019 2020 2021 2022 2023 1Q2023 1Q2024 1Q2023 vs CAGR 1Q2024 1 Jakarta - Bogor - Ciawi * 148.50 151.90 123.05 131.36 145.90 151.47 36.72 37.37 1.8% -4.4% 2 Jakarta - Cikampek
Slide 29: Toll Road Development Focus
Toll Road Development Focus Jasa Marga’s Toll Road Upcoming Projects in Details 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) Progress Land Acquisition :
PT Jasa Marga (Persero) — Q1 2024 Earnings Presentation on 6ix