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JSMR
JASA MARGA (PERSERO) TBK.
Company Profile
PT Jasa Marga (Persero) Tbk. was established dated September 10th, 1982, under the
framework of Government Regulation regarding the State Capital Investment for the
establishment of a StateOwned Company (Persero) in the area of management,
maintenance and development of toll roads and the detailed management regulations.
TheCompanycommenceditscommercialoperationsin1978.

Jasa Marga is a state owned company with the line business of planning, constructing,
operatingandmaintainingtollroadsalongwithdevelopingandmaximizingtheuseofland
in toll road areas and other related businesses. Jasa Margas business characteristics are
defensiveandresistanttofluctuatedconditionofglobaleconomy.

Forthesepurposes,theCompanyperformsthefollowingactivities:
1. Performtechnicalplanning,construction,operateand/ormaintenanceoftollroad;
2. Organizethelandintollroadarea(Rumijatol)andthelandtoborderonRumijatolfor
restareaandserviceincludingfacilitiesandotherbusinessoperatedeitherseparately
orincooperationwithotherparties;and

In additionto the main business activity, Company may run other supporting business
activities,subjecttolawsandregulations,involve:
1. PropertyDevelopmentintheareaoftollroadcorridor.
2. Development service for business related to transportation facilities,
liquid/solid/gasmaterialdistribution,networkofinformation,communicationand
technology,relatedtotollroadcorridor.
3. Tradeandserviceforconstruction,maintenanceandoperationoftollroad

TheCompanyisdomiciledinJakartaandiscurrentlyoperating25tollroadsmanagedbyits
9branchofficesandtheCompanysSubsidiaries.AsofDecember31st,2013theCompany
hadtotalpermanentemployeesof4,875persons.

January 2014
Disclaimer:
The facts and opinions stated or expressed in this publication are for information purposes only and are not necessarily and must not be relied upon as being those of the publisher or
of the institutions for which the contributing authors work. Although every care has been taken to ensure the accuracy of the information contained within the publication it should not be
by any person relied upon as the basis for taking any action or making any decision. The Indonesia Stock Exchange cannot be held liable or otherwise responsible in anyway for any
advice action taken or decision made on the basis of the facts and opinions stated or expressed or stated within this publication.

JSMR Jasa Marga (Persero) Tbk. [S]

COMPANY REPORT : JANUARY 2014

As of 30 January 2014

Main Board
Industry Sector : Infrastructure, Utilities And Transportation (7)
Industry Sub Sector : Toll Road, Airport, Harbor And Allied Products (72)

Individual Index
:
Listed Shares
:
Market Capitalization :

304.412
6,800,000,000
35,190,000,000,000

21 | 35.2T | 0.81% | 59.38%


22 | 11.8T | 1.07% | 54.84%

COMPANY HISTORY
Established Date
: 01-Mar-1978
Listing Date
: 12-Nov-2007
Under Writer IPO :
PT Danareksa Sekuritas
PT Bahana Securities
PT Mandiri Sekuritas
Securities Administration Bureau :
PT Datindo Entrycom
Wisma Sudirman - Puri Datindo
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220
Phone : (021) 570-9009
Fax
: (021) 570-9026
BOARD OF COMMISSIONERS
1. Agoes Widjanarko
2. Akhmad Syakhroza
3. Boediarso Teguh Widodo
4. Ibnu Purna Muchtar
5. Michael Dendron Primanto *)
6. Samsoedin *)
*) Independent Commissioners
BOARD OF DIRECTORS
1. Adityawarman
2. Abdul Hadi
3. Hasanudin
4. Muh Najib Fauzan
5. Reynaldi Hermansjah
AUDIT COMMITTEE
1. Michael Dendron Primanto
2. Agita Widjajanto
3. Rustam Wahyudi
CORPORATE SECRETARY
David Wijayatno
HEAD OFFICE
Plaza Tol Taman Mini Indonesia Indah
Jakarta - 13550
Phone : (021) 841-3630
Fax
: (021) 840-1533, 841-3540
Homepage
Email

: www.jasamarga.com
: sekper@jasamarga.co.id
jasmar@jasamarga.com

SHAREHOLDERS (January 2014)


1. Negara Republik Indonesia
2. Public (<5%)

4,760,000,000 :
2,040,000,000 :

DIVIDEND ANNOUNCEMENT
Bonus
Cash
Year
2007
2008
2009
2010
2011
2012
2013

Shares

Dividend
14.31
52.00
87.91
105.69
78.88
94.24
78.61

Cum Date
21-May-08
18-Jun-09
28-Jun-10
06-Jul-11
04-Jun-12
29-May-13
04-Apr-14

Ex Date
22-May-08
19-Jun-09
29-Jun-10
07-Jul-11
05-Jun-12
30-May-13
07-Apr-14

Recording
Date
26-May-08
23-Jun-09
01-Jul-10
11-Jul-11
07-Jun-12
03-Jun-13
09-Apr-14

70.00%
30.00%

Payment
Date
29-May-08
07-Jul-09
15-Jul-10
13-Jul-11
21-Jun-12
18-Jun-13
23-Apr-14

F/I
F
F
F
F
F
F
F

ISSUED HISTORY
No.
1.
2.
3.

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

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

Listing
Date
12-Nov-07
12-Nov-07
12-Nov-07

Trading
Date
12-Nov-07
12-Nov-07
10-May-08

JSMR Jasa Marga (Persero) Tbk. [S]


Closing
Price*

Volume
(Mill. Sh)

7,000

160

6,125

140

5,250

120

4,375

100

3,500

80

2,625

60

1,750

40

875

20

Jan-10

Jan-11

Jan-12

Jan-13

Jan-14

Closing Price*, Jakarta Composite Index (IHSG) and


Infrastructure, Utilities and Transportation Index
January 2010 - January 2014
280%
240%
200%
179.7%
160%
120%
80%

71.6%

40%

32.1%

-40%

Jan 10

Jan 11

Jan 12

Jan 13

Jan 14

2010

2011

2012

Volume (Million Sh.)


Value (Billion Rp)
Frequency (Thou. X)
Days

2,753
6,731
133
245

2,175
7,871
141
247

2,519
13,121
167
246

2,300
13,229
220
244

182
906
33
20

Price (Rupiah)
High
Low
Close
Close*

3,900
1,660
3,425
3,425

4,275
2,925
4,200
4,200

6,000
4,125
5,450
5,450

6,950
4,525
4,725
4,725

5,450
4,400
5,175
5,175

21.61
11.09
3.09

24.12
17.53
3.79

23.55
18.40
3.09

25.80
18.52
3.39

SHARES TRADED

19.51
PER (X)
14.36
PER Industry (X)
3.01
PBV (X)
* Adjusted price after corporate action

2013 Jan-14

Closing Price

Freq.

Volume

Value

Day

TRADING ACTIVITIES

Closing Price* and Trading Volume


Jasa Marga (Persero) Tbk. [S]
January 2010 - January 2014

Month
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10

High
1,900
1,800
1,840
2,150
2,075
2,200
2,725
3,025
3,375
3,900
3,775
3,600

Low
1,770
1,660
1,730
1,780
1,750
1,900
2,000
2,525
2,900
3,175
3,350
3,150

Close
1,800
1,780
1,790
2,075
1,970
2,025
2,675
2,925
3,200
3,750
3,475
3,425

(X)
7,773
4,287
7,732
24,979
10,682
11,022
12,444
9,876
9,894
10,770
14,041
9,386

Jan-11
Feb-11
Mar-11
Apr-11
May-11
Jun-11
Jul-11
Aug-11
Sep-11
Oct-11
Nov-11
Dec-11

3,575
3,200
3,425
3,525
3,525
3,650
4,000
4,175
4,275
3,975
4,000
4,275

2,925
2,950
3,150
3,250
3,275
3,325
3,550
3,625
3,400
3,550
3,675
3,750

3,000
3,175
3,400
3,300
3,475
3,625
3,975
4,000
3,975
3,850
3,875
4,200

12,779
6,832
13,551
13,158
9,957
7,995
11,849
11,334
16,354
17,076
8,082
11,878

197,010
104,194
195,067
174,537
193,346
175,397
191,975
229,033
225,381
175,397
85,380
228,156

636,186
320,670
642,378
587,008
663,699
603,870
722,040
896,266
885,369
665,325
330,751
917,847

21
18
23
20
21
20
21
19
20
21
22
21

Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12

4,575
4,775
5,150
5,700
5,550
5,450
5,950
6,000
5,850
5,950
5,850
5,850

4,125
4,325
4,625
4,875
4,925
4,975
5,300
5,550
5,650
5,650
5,650
5,450

4,375
4,700
5,150
5,350
5,150
5,400
5,700
5,750
5,850
5,800
5,700
5,450

12,368
12,003
14,902
19,314
23,617
14,761
14,029
12,949
10,923
12,435
9,709
9,539

230,785
265,300
168,517
230,817
448,775
232,464
167,905
157,924
131,027
173,137
152,420
159,861

993,508
1,209,137
813,781
1,196,346
2,326,901
1,199,371
944,446
899,890
753,148
999,567
876,690
908,441

21
21
21
20
21
21
22
19
20
22
20
18

Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13

5,700
5,650
5,950
6,750
6,950
6,800
6,400
6,150
5,850
5,800
5,450
5,350

5,100
5,400
5,600
5,900
6,500
5,700
5,200
5,300
5,050
5,250
4,825
4,525

5,500
5,550
5,950
6,700
6,700
6,050
5,350
5,450
5,200
5,250
5,100
4,725

17,310
13,401
15,101
14,419
17,482
25,472
20,579
18,323
19,992
17,277
22,103
18,175

287,693
204,434
195,334
221,969
146,129
256,837
159,785
152,358
204,787
166,818
154,529
149,099

1,560,093
1,133,501
1,128,937
1,418,115
973,809
1,596,449
952,854
868,013
1,144,362
927,029
793,812
732,436

21
20
19
22
22
19
23
17
21
21
20
19

Jan-14

5,450

4,400

5,175

32,974

182,407

906,070

20

(Thou. Sh.) (Million Rp)


151,173
277,498
50,755
88,599
156,449
279,869
720,011 1,426,713
217,164
421,065
211,349
435,942
284,982
664,587
177,397
491,645
176,359
523,935
193,517
677,678
270,049
954,411
488,862
144,135

20
19
22
21
19
22
22
21
17
21
21
20

JSMR Jasa Marga (Persero) Tbk. [S]


Financial Data and Ratios

Book End : December

Public Accountant : Aryanto, Amir Jusuf, Mawar & Saptoto (Member of RSM International)
Dec-09

Dec-10

Dec-11

Dec-12

Dec-13

3,314,003

4,011,590

3,764,009

4,302,382

3,514,061

Receivables

64,672

23,630

87,994

64,092

177,198

Inventories

Current Assets

3,430,338

4,090,141

3,996,741

4,531,117

3,746,345

Fixed Assets

9,863,302 13,694,508 15,945,902

422,507

593,028

289,155

130,965

BALANCE SHEET

TOTAL ASSETS AND LIABILITIES (Bill. Rp)

(Million Rp except Par Value)

Cash & Cash Equivalents

Other Assets
Total Assets

Assets

392,755

259,058

440,239

16,174,264 18,952,129 21,432,134 24,753,551 28,366,345

17.17%

Growth (%)

17,250
11,500

15.50%

14.60%

5,750

4,919,884

2,966,355

2,478,279

3,768,596

6,648,164

Long Term Liabilities

5,462,468

8,114,384

8,423,258

8,317,601 12,579,482

Total Liabilities

8,428,823 10,592,663 12,191,853 14,965,766 17,499,365

Growth (%)

23,000

13.09%

Current Liabilities

25.67%

15.10%

22.75%

16.93%

Liabilities

28,750

2009

2010

2011

2012

2013

TOTAL EQUITY (Bill. Rp)


Authorized Capital

9,520,000

9,520,000

9,520,000

9,520,000

9,520,000

Paid up Capital

3,400,000

3,400,000

3,400,000

3,400,000

3,400,000

6,800

6,800

6,800

6,800

6,800

500

500

500

500

500

Retained Earnings

1,457,048

2,015,210

2,602,769

2,753,965

3,449,446

Total Equity

7,183,379

7,740,014

9,240,280

9,787,786 10,866,980

7.75%

19.38%

Paid up Capital (Shares)


Par Value

Growth (%)
INCOME STATEMENTS
Total Revenues

Dec-09

Dec-10

Dec-11

3,692,000

4,378,584

4,960,473

18.60%

13.29%

Growth (%)

5.93%

11.03%

Dec-12

Dec-13

9,240
8,650

7,183

9,788

7,740

6,433

4,216

2,000

9,070,219 10,294,668

82.85%

13.50%

Cost of Revenues

2,175,779

2,390,392

2,679,084

6,094,983

7,631,490

Gross Profit

1,516,221

1,988,192

2,281,388

2,975,236

2,663,177

Expenses (Income)

2,175,779

2,390,392

2,679,084

6,094,983

Operating Profit

1,516,221

1,988,192

2,281,388

2,975,236

2,663,177

31.13%

14.75%

30.41%

-10.49%

-422,327

-511,843

-554,914

-919,979

-948,522

Growth (%)

10,867
10,867

-217

2009

2010

2011

2012

2013

TOTAL REVENUES (Bill. Rp)


10,295
9,070

10,295

8,195

Other Income (Expenses)

1,093,894

1,476,349

1,726,475

2,055,257

1,714,655

Tax

211,682

291,854

407,651

519,445

476,835

Profit for the period

882,212

1,184,496

1,318,824

1,535,812

1,237,821

34.26%

11.34%

16.45%

-19.40%

Income before Tax

Growth (%)

6,094

3,692

4,379

4,960

3,994

1,894

Period Attributable

882,212

1,193,487

1,339,462

1,602,090

1,336,317

Comprehensive Income

992,694

1,186,036

1,321,582

1,536,346

1,236,627

1,195,027

1,342,220

1,602,624

1,335,123

Dec-09

Dec-10

Dec-11

Dec-12

Dec-13

115.64

165.04

106.05

68.16

76.15

87.91

105.69

78.88

94.24

78.61

Comprehensive Attributable
RATIOS
Current Ratio (%)
Dividend (Rp)

129.74

175.51

196.98

235.60

196.52

BV (Rp)

1,056.38

1,138.24

1,358.86

1,439.38

1,598.09

DAR (X)

0.52

0.56

0.57

0.60

0.62

DER(X)

1.17

1.37

1.32

1.53

1.61

EPS (Rp)

ROA (%)

5.45

6.25

6.15

6.20

4.36

ROE (%)

12.28

15.30

14.27

15.69

11.39

GPM (%)

41.07

45.41

45.99

32.80

25.87

OPM (%)

41.07

45.41

45.99

32.80

25.87

NPM (%)

23.90

27.05

26.59

16.93

12.02

Payout Ratio (%)

67.76

60.22

40.04

40.00

40.00

4.86

3.09

1.88

1.73

1.66

Yield (%)

-206

2009

2010

2011

2012

2013

PROFIT FOR THE PERIOD (Bill. Rp)


1,536
1,536

1,319

1,238

1,184
1,223

882
909

596

283

-31

2009

2010

2011

2012

2013