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JSMR – Toll Road Segment Recovery Grows Faster

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Restu Pamungkas
Restu Pamungkas
Analyst - Telco, Tower, Toll Road, Poultry
Restu Pamungkas
Latest posts by Restu Pamungkas (see all)
  • ISAT – Tower Sales Expected to Improve Bottom Line - March 5, 2021
  • EXCL – Expect Solid Performance in 2021 - February 23, 2021
  • PGAS – Top & Bottom Line Recovers in 3Q20 - January 22, 2021

JSMR’s revenue improved during 3Q/20, with an increase of +45.3% QoQ. The toll road segment contributed 62.3% to the revenue, with a growth of 70.1% QoQ vs -45.5% in 2Q/20. We project that the toll segment revenue in 4Q/20 will grow limited due to the curbing of the Christmas and New Year holidays at the end of 2020.

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