Jasa Marga’s Finance Director Donny Arsal said the toll road industry is an industry that is resilient or resilient to face economic turmoil. This can be seen in the performance of toll roads during the 1998, 2008 and 2015 economic crisis and the 2020 pandemic.
Donny said that during the economic crisis in 1998, company revenues had indeed decreased. However, the rate of decline in income improved again one year later, even higher than the year before the crisis occurred.
“The 1999 revenue even exceeded the revenue before the 1997 crisis. Many had very fast recovery times. It is relatively different from other industries which fell very sharply,” said Donny in a virtual discussion, Jakarta, Monday (8/3).
Meanwhile, during the financial crises in 2008 and 2015 the economy suddenly started to slow down. Car sales throughout Indonesia are reported to be declining, however the use of toll roads does not have a significant effect.
“When there was an economic slowdown in comparison to car sales where Indonesia fell, at that time Jasa Marga continued to grow in 2019,” explained Donny.
This year, Donny added, the same condition still happened. Indeed, there has been a decrease in revenue of about a dozen percent. However, it is believed that this will quickly recover, especially since the government is aggressively campaigning for the Corona Virus vaccine.
“In 2020 due to the slow down pandemic. We can see from car sales, our income has also decreased by a dozen percent. So even though the pandemic hit quite a lot in many industries where the first and second quarters, the recovery rate decreased only a dozen percent,” he explained.
“This shows that this industry is very resilient to the economic turmoil. We hope that with the vaccine, the community’s mobility will be closer to normal. Why, because school children are still on holiday and daytime activities are still not as usual,” he said.