The construction industry is under pressure by challenging global economic conditions. This is reflected by new contracts secured by PT Wijaya Karya (Persero) Tbk (WIKA) of only Rp2.16 trillion, which is lower compared to the same period the previous year. However, the Company booked Rp4.84 trillion in sales, comprising Rp3.11 trillion from non-joint operation projects (Proyek Non-Kerjasama Operasi) and Rp1.73 trillion from joint operation projects (Proyek Kerjasama Operasi, “KSO”).
Sales were mainly generated from the building and infrastructure segment, EPC, construction-related industries, and real estate property. The sales achievement enabled WIKA to book a gross profit of Rp393.46 billion, of which Rp231.33 billion came from non-KSO projects and the remainder from KSO projects.
WIKA’s consistent restructuring efforts have successfully reduced debts on its balance sheet to financial institutions and business partners by Rp1.47 trillion in Q1-2025 compared with 2024.
These positive achievements were also followed by proposals that were approved by bondholders, especially for the Wijaya Karya Shelf Registration Bond II Phase II Year 2022. This reflects stakeholders’ support for the Company’s ongoing restructuring plans. As a result of the approval, the credit rating agency, PT Pemeringkat Efek Indonesia (PEFINDO), upgraded WIKA’s Shelf Registration Bond II Phase II Year 2022 Series A rating from idD to idCCC. However, the Company must seek support from sukukholders of the Wijaya Karya Shelf Registration Sukuk Mudharabah II Phase II Year 2022 to approve the proposals presented, which are part of the Company’s restructuring plans.
“The Company expresses its deepest appreciation for the trust and support given by stakeholders. The ongoing restructuring plans are not only focused on improving our financial structure but also on strengthening our fundamentals and operations to attain greater excellence and maintain business sustainability,” said Agung BW, President Director of WIKA.
PT Wijaya Karya (Persero) Tbk. [IDX: WIKA]
Contact:
Mahendra Vijaya
Sekretaris Perusahaan
Email: mahendra.v@wikamail.id