Jasa Marga’s net profit falls 19.4% to Rp3.65 trillion in 2025; reasons explained
JAKARTA — PT Jasa Marga (Persero) Tbk (JSMR) reported a net profit of Rp3.65 trillion for the year 2025. The figure was down 19.43% from Rp4.53 trillion in the same period a year earlier. According to the group’s financial statements, JSMR booked revenue of Rp28.89 trillion in 2025, down 5.88% from Rp31.75 trillion in the corresponding period last year. The decline in revenue was due to a significant drop in construction revenue to Rp10.07 trillion in 2025, down from Rp13.02 trillion in the prior year. Meanwhile, other operating income rose to Rp1.65 trillion in 2025, from Rp1.51 trillion in 2024. The group’s EBITDA was recorded at Rp13.3 trillion, up from the previous period. Chief Executive Officer Rivan A. Purwantono said the company’s operational performance still shows a solid growth trend in several key indicators, despite facing external challenges. “What has grown consistently is toll revenue, other operating income, and EBITDA. This shows the company’s fundamental business remains stable and resilient,” Rivan said in an official statement on Tuesday (3 March 2026). On the cost side, the company reported total cost of revenue decreased to Rp18.10 trillion in 2025 from Rp20.44 trillion in 2024. This aligns with the fall in construction costs to Rp10.02 trillion in 2025, from Rp12.94 trillion in 2024. Admittedly, general and administrative expenses rose to Rp2.48 trillion in 2025, from Rp2.33 trillion in 2024. In 2025, operating profit stood at Rp9.65 trillion, up slightly from Rp9.51 trillion in 2024. Finance costs also fell to Rp3.60 trillion in 2025 from Rp4.03 trillion in 2024. In 2025, JSMR recorded a total income tax expense of Rp1.54 trillion, compared with Rp157.65 billion in 2024. By contrast, JSMR’s total assets rose to Rp159.99 trillion in 2025, from Rp148.72 trillion in 2024. Total liabilities increased to Rp97.63 trillion in 2025, from Rp89.88 trillion previously. Breakdown: long-term liabilities of Rp81.63 trillion and current liabilities of Rp15.99 trillion. Total equity at end-2025 stood at Rp62.36 trillion, up 6% from Rp58.83 trillion in 2024.