PT Jasa Marga (Persero) Tbk.

Head Office

Business
Company Status

Plaza Tol Taman Mini Indonesia Indah

Jl. Jagorawi Toll Plaza TMII
Jakarta 13550
Phone (021) 841-3630, 841-3526
Fax (021) 840-1533, 841-3505, 841-3540
E-mail jasmar@jasamarga.com
Website: www.jasamarga.com
Road Tool, Airport and Harbor
BUMN

Financial Performance: The Companys net income

increase to IDR 1.231 trillion in 2011 compared to IDR 1.186
trillion income in 2010.
Brief History: Jasa Marga was founded in 1978 when
the first toll road connecting Jakarta and Bogor was completed.
In order that the operation and maintenance of the said toll
road are independently financed without having to burden the
Governments budget, the then Minister of Public Works, Ir.
Sutami, proposed the establishment of a company to operate
the toll road. The result was the issuance of Government Regulation No.4 of 1978 concerning State Capital Investment for the
establishment of State-Owned Company (Persero).
PT Jasa Marga (Persero) was then established on 1 March
1978 for the purpose of the management of toll road in Indonesia. On 9 March 1978, President Soeharto inaugurated the toll
road called Jagorawi, which employed 200 people and named it
the first toll road in the country.
Since then, Jasa Marga and the Government have continuously developed new roads in Jabotabek (Jakarta Greater
Municipality), Bandung, Cirebon, Semarang, Surabaya and Medan. Until late 80s Jasa Marga was the only toll road investor
and operator in the country when the Government eventually
invited the private sectors to enter into toll road business.
In accordance with Law No. 38 of 2004 concerning Road,
effective from 18 October 2004, Jasa Margas role has changed
from toll road regulator to toll road investor that will receive
toll road concession rights from the Government. Jasa Marga is
ready to compete with private toll road investors in constructing, operating and maintaning toll roads.
In 2003, Jasa Marga cooperated with Malaysian investors
to form Net One Solution Ltd., giving management services
in the operation of Jamuna Toll Bridge in Bangladesh for five
years.
Jasa Marga is now a public State-Owned Enterprise since
it listed its 30% shares at the Indonesia Stock Exchange on 12
November 2007.
To date, employing over 5,000 people, Jasa Marga has
been constructing and operating thirteen (13) toll roads that
are managed by nine (9) branch offices and subsidiary with the
total length of operated toll road reaching nearly 531 km.

Shareholders
Indonesia Government
PT Jamsostek (Persero)
Public

928

70.00%
1.57%
28.43%

Others
Summary of Financial Statement
(Million Rupiah)
2009
2010
2011
Total Assets
Current Assets
of which
Cash on hand and in banks
Short Investments
Time deposit
Inventories
Non-Current Assets
of which
Fixed Assets-Net
Investments
Other Assets
Liabilities
Current Liabilities
of which
Bank loans
Trade payable
Accrued expenses
Current maturities of
long-term debt
Non-Current Liabilities

16,174,264
3,430,338

18,952,129
4,090,141

21,432,134
3,996,741

3,314,003
41,476
8,353
n.a
12,743,926

4,011,590
27,470
22,741
n.a
14,861,988

3,764,009
38,788
101,985
n.a
17,435,393

10,059,505
323,633
392,755

10,327,354
317,419
42,534

14,038,483
315,720
41,849

8,428,823
2,966,355

10,592,663
2,478,279

12,191,853
3,768,596

1,158,278
103,690
248,523

1,291,579
130,308
328,466

1,630,126
136,142
480,072

2,294,291
5,462,468

1,439,380
8,114,384

2,524,783
8,423,258

Shareholders' Equity
Paid-up capital
Paid-up capital
in excess of par value
Retained earnings

7,745,441
3,400,000

8,359,466
3,400,000

9,240,280
3,400,000

2,343,266
2,002,175

2,343,266
2,616,200

2,343,266
3,497,014

Net Sales
Cost of Good Sold
Gross Profit
Operating Expenses
Operating Profit
Other Income (Expenses)
Profit (Loss) before Taxes
Comprehensive Profit (Loss)

3,631,483
60,517
3,692,000
2,175,779
1,516,221
(422,327)
1,093,894
992,694

4,306,106
72,479
4,378,584
2,390,392
1,988,192
(511,843)
1,476,349
1,186,036

4,843,230
117,243
4,960,473
2,679,084
2,281,388
(554,914)
1,726,475
1,231,582

Per Share Data (Rp)

Earnings per Share
Equity per Share
Dividend per Share
Closing Price

146
1,139
88
8,710

174
1,229
n.a
3,425

181
1,359
n.a
4,200

Financial Ratios
PER (x)
PBV (x)
Dividend Payout (%)
Dividend Yield (%)

59.66
7.65
60.22
1.01

19.64
2.79
n.a
n.a

23.19
3.09
n.a
n.a

Current Ratio (x)

Debt to Equity (x)
Leverage Ratio (x)
Operating Profit Margin (x)
Net Profit Margin (x)
Total Assets Turnover (x)
ROI (%)
ROE (%)

1.16
1.09
0.52
0.42
0.27
0.22
6.14
12.82

1.65
1.27
0.56
0.46
0.28
0.23
6.26
14.19

1.06
1.32
0.57
0.47
0.25
0.23
5.75
13.33

PER = 23.66x ; PBV = 4.08x (June 2012)

Financial Year: December 31
Public Accountant: Hadori Sugiarto Adi & Co.

(million rupiah)
2012
2011
Total Assets
Current Assets
Non-Current Assets
Liabilities
Shareholders' Equity
Net Sales
Profit after Taxes
ROI (%)
ROE (%)

22,030,047
4,512,503
17,517,544
13,032,184
8,997,863
3,273,734
891,423

20,464,496
4,536,784
15,927,712
11,998,717
8,465,779
2,836,219
710,103

4.05
9.91

3.47
8.39

In June

Indonesian Capital Market Directory 2012

PT Jasa Marga (Persero) Tbk.

Others

Board of Commissioners
President Commissioner Ir. Agoes Widjanarko, MIP
Commissioners Ibnu Purna Muchtar, SE, MA, DR. Joyo Winoto,
Prof. Dr. H. Akhmad Syakhroza,
Mayjend. (Purn.) Samsoedin,
Drs. Irjen Polisi (Purn.) Michael
Dendron Primanto, SH, MH

No

Type of Listing

1
2
3

First Issue
First Issue Negara RI ( Seri A )
Company Listing

Board of Directors
President Director Ir. Adityawarman
Directors Ir. Hasanudin, Ir. Reynaldi Hermansjah,
Ir. Abdul Hadi H.S, MM, Ir. Muh. Najib Fauzan, Msc
Number of Employees 5,104

Listing Date

Trading Date

Number of Shares
per Listing

12-Nov-07
12-Nov-07
12-Nov-07

12-Nov-07
12-Nov-07
10-May-07

2,040,000,000
1
4,759,999,999

Total Listed
Shares
2,040,000,000
2,040,000,001
6,800,000,000

Underwriters
PT Bahana Securities, PT Danareksa Sekuritas, PT Mandiri Sekuritas
Stock Price, Frequency, Trading Days, Number and Value of Shares Traded and Market Capitalization
Stock Price
Month

High
(Rp)

January-11

3,575

Low

Trading

Listed

Market

Frequency

Day

Shares

Capitalization

12,779

21

6,800,000,000

20,400,000.00
21,590,000.00

Shares Traded
Close

Volume

Value

(Rp)

(Rp) (Thousand Shares)

(Rp Million)

2,925

3,000

197,010.00

636,186.00

(Rp Million)

February-11

3,200

2,950

3,175

104,194.00

320,670.00

6,832

18

6,800,000,000

March-11

3,425

3,150

3,400

195,067.00

642,378.00

13,551

23

6,800,000,000

23,120,000.00

April-11

3,525

3,250

3,300

174,537.00

587,008.00

13,158

20

6,800,000,000

22,440,000.00

May-11

3,525

3,275

3,475

193,346.00

663,699.00

9,957

21

6,800,000,000

23,630,000.00

June-11

3,650

3,325

3,625

175,397.00

603,870.00

7,995

20

6,800,000,000

July-11

4,000

3,550

3,975

191,975.00

722,040.00

11,849

21

6,800,000,000

24,650,000.00
27,030,000.00

August-11

4,175

3,625

4,000

229,033.00

896,266.00

11,334

19

6,800,000,000

27,200,000.00

September-11

4,275

3,400

3,975

225,381.00

885,369.00

16,354

20

6,800,000,000

27,030,000.00

October-11

3,975

3,550

3,850

175,397.00

665,325.00

17,076

21

6,800,000,000

26,180,000.00

November-11

4,000

3,675

3,875

85,380.00

330,751.00

8,082

22

6,800,000,000

26,350,000.00

December-11

4,275

3,750

4,200

228,156.00

917,847.00

11,878

21

6,800,000,000

28,560,000.00

January-12

4,575

4,125

4,375

230,785.00

993,508.00

12,368

21

6,800,000,000

29,750,000.00

February-12

4,775

4,325

4,700

265,300.00

1,209,137.00

12,003

21

6,800,000,000

31,960,000.00

March-12

5,150

4,625

5,150

168,517.00

813,781.00

14,902

21

6,800,000,000

35,020,000.00

April-12

5,700

4,875

5,350

230,817.00

1,196,346.00

19,314

20

6,800,000,000

36,380,000.00

May-12

5,550

4,925

5,150

448,775.00

2,326,901.00

23,617

21

6,800,000,000

35,020,000.00

June-12

5,450

4,975

5,400

232,464.00

1,199,371.00

14,761

21

6,800,000,000

36,720,000.00

Stock Price and Traded Chart

Institute for Economic and Financial Research

929