TransJamaican Highway sees US$9 million in profit from January to March
Key Points(5)
- TransJamaican Highway is the company that operates and maintains the East-West leg of Jamaica's main toll highway system, formerly known as Highway 2000 East-West.
- The company credited the improved performance to a 14 percent year-over-year rise in revenue, which climbed to US$22.5 million from US$19.8 million.
- This growth was fueled by sustained increases in traffic volumes and the effective management of toll operations along its East-West corridor.
- TJH’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) also rose significantly, reaching US$18.1 million—a 17 percent jump compared to the first quarter of 2024.
- The EBITDA margin improved to 80 percent, reflecting greater operational efficiency and cost controls.
TransJamaican Highway Limited (TJH) has reported a solid start to the 2025 financial year, posting a net profit of US$9.1 million for the first quarter ended March 31—marking a 32 percent increase over the US$6.9 million recorded during the same period last year.
TransJamaican Highway is the company that operates and maintains the East-West leg of Jamaica's main toll highway system, formerly known as Highway 2000 East-West.
The company credited the improved performance to a 14 percent year-over-year rise in revenue, which climbed to US$22.5 million from US$19.8 million. This growth was fueled by sustained increases in traffic volumes and the effective management of toll operations along its East-West corridor.
TJH’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) also rose significantly, reaching US$18.1 million—a 17 percent jump compared to the first quarter of 2024. The EBITDA margin improved to 80 percent, reflecting greater operational efficiency and cost controls.
Operating expenses decreased to US$5.5 million, down from US$6 million, due in part to lower amortisation charges and reduced maintenance activity. Administrative expenses saw a modest rise to US$2.5 million, largely driven by salary adjustments and increased office-related costs. Finance costs declined slightly to US$3.3 million.
In a signal of continued financial strength, TJH’s board declared a US$10 million interim dividend in March, payable in April. This follows a robust dividend performance in 2024 and reinforces the company’s commitment to delivering shareholder value.
“This performance reflects our strong fundamentals and strategic discipline,” said CEO Ivan Anderson. “Even as we manage inflationary pressures and invest in expanding access to our services, we continue to deliver profitable growth and create tangible value for our investors and the Jamaican public.”
As of March 31, TJH’s total assets stood at US$301 million, up from US$294 million at the end of December 2024. The increase was driven by higher restricted cash and trade receivables. Equity held steady at US$64.3 million, while total liabilities rose to US$237 million, largely due to the declared dividend and increased payables. The company’s debt service coverage ratio improved to 3.18x from 2.94x a year earlier.
The strong quarter follows the Government of Jamaica’s successful divestment of its remaining 20 percent stake in the company, an offering that was oversubscribed and significantly expanded TJH’s shareholder base on the Jamaica Stock Exchange.
TJH continues to operate the TransJam Highways (formerly Highway 2000 East-West), the only high-speed toll route connecting Kingston with Clarendon and St. Catherine. The company is in advanced talks with the Government to assume operations of the completed Phase 1C extension from May Pen to Williamsfield, signaling further growth opportunities on the horizon.
