Jakarta. State-run toll road operator Jasa Marga reported that it had registered a solid performance throughout the third quarter of 2025, registering core earnings of Rp 2.74 trillion (around $164.7 million).

This marks a 5.02 percent year-on-year (yoy) increase, according to Jasa Marga's president director Rivan A Purwantono.

“This achievement reflects the company’s strong fundamentals and its consistency in sustaining business performance,” Rivan said.

The company attributed the growth to its higher operating revenue and EBITDA (earnings before interest, taxes, depreciation and amortization). Other factors also include the 14.21 percent yoy decline in consolidated financial costs driven by the positive impact of the equity financing initiative by Jasamarga Transjawa Tol (JTT) in Q4-2024.

In the third quarter of 2025, Jasa Marga posted a operating revenue of Rp14.52 trillion, up by 4.83 percent compared to the same period in 2024. This achievement was driven by toll revenue of Rp 13.42 trillion and non-toll revenue of Rp1.11 trillion. Jasa Marga’s EBITDA also grew in line with higher operating revenue, reaching Rp9.73 trillion, an increase of 4.93 percent from the previous year with a sound EBITDA margin maintained at 67.01 percent.

The toll roads that Jasa Marga operates so far spans 1,294 kilometers, representing 42 percent of all toll roads in operation nationwide. The company’s total managed concession length stands at 1,736 km.

In July 2025, Jasa Marga took a strategic step by completing an addendum to the shareholders agreement with construction engineering firm Adhi Karya in Jasamarga Jogja Solo (JMJ). This adjustment enables JMJ to be consolidated into Jasa Marga’s financial statements in accordance with applicable accounting standards. The amendment was conducted without any changes to ownership structure or share transactions, and operational policies as well as business development directions continue to be jointly determined by the shareholders under the existing agreement.

This move further strengthens Jasa Marga’s position in developing an integrated and reliable toll road network, ensuring consistent implementation of safety, service, and maintenance standards across the Trans Java corridor.

The company is currently focused on five toll road projects: Jakarta–Cikampek II Selatan Toll Road, Patimban Access Toll Road, Yogyakarta–Bawen Toll Road, Solo–Yogyakarta–NYIA Kulonprogo Toll Road, and Probolinggo–Banyuwangi Toll Road. In August 2025, Jasa Marga officially commenced operation of the 7.85 km Klaten–Prambanan section of the Solo–Yogyakarta–NYIA Kulonprogo Toll Road.

“In the midst of an increasing number of new toll road projects being completed and starting in operation, Jasa Marga has continued to maintain a balanced financial capacity and sound financial, as reflected in the company’s stable financial ratios in the third quarter of 2025. This demonstrates our ongoing commitment to sustaining business continuity,” Rivan said.

Jasa Marga's subsidiary Jasamarga Related Business (JMRB) manages Indonesia’s first toll corridor development (TCD) project, also known as a toll rest and service area with a transit-oriented development (TOD) concept under the commercial name Travoy Hub. As of the third quarter of 2025, JMRB has expanded the development to Phases 2 and 3, with construction progress reaching 99.86%. Located near the Taman Mini LRT Station, Travoy Hub integrates public transportation with commercial areas such as retail centers, hospitals, and recreational facilities, thereby creating new employment opportunities and supporting the growth of micro, small, and medium enterprises (MSME) and the creative industry.

Jasa Marga also continues to ensure operational readiness by enhancing both the quantity and quality of its services, particularly in anticipation of higher mobility during the extended holiday periods through the third quarter of 2025.

The company remains optimistic about maintaining its positive performance throughout 2025 by continuing to implement strategic initiatives to strengthen financial soundness. Jasa Marga aims to achieve targeted revenue growth through toll rate adjustments in line with its business plan and by further expanding non-toll revenue streams.

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