Waskita Karya Loses IDR 3.6 Trillion In The Third Quarter Of 2024

Waskita Karya Finance Director Wiwi Suprihatno (second from the left). Photo: Theresia Agatha/VOI

JAKARTA - BUMN Karya, PT Waskita Karya Tbk (WSKT) posted a loss attributable to the owner of the company, aka a net loss of IDR 3.6 trillion until the third quarter of 2024. WSKT's net loss increased on an annual basis or year on year (yoy) from IDR 2.83 trillion in the same period the previous year.

Waskita Karya Finance Director Wiwi Suprihatno said the company's loss overrun was triggered by a slowdown in operating income of Rp6.78 trillion during January-September 2024. This figure decreased compared to the same period last year of Rp7.81 trillion.

"The company is still recording a net loss of IDR 3.6 trillion, mainly this is still due to the high financial burden of the company until the third quarter of 2024," Wiwi said in a Public Expose at the Waskita Heritage Building, Jakarta, Tuesday, November 26.

In addition, WSKT suffered a net exchange loss of IDR 1.54 billion at the end of September 2024. In contrast to the net exchange gain of IDR 5.32 billion in the same period last year.

WSKT also recorded other net expenses of IDR 137.15 billion in the third quarter of 2024. Financial expenses also increased to IDR 3.45 trillion at the end of September 2024, an increase compared to the same period last year, which was IDR 3.16 trillion.

Meanwhile, WSKT's total assets were recorded at IDR 88.67 trillion, a decrease from IDR 95.59 trillion on December 31, 2023. The company's total liabilities also decreased to IDR 80.58 trillion at the end of September 2024, compared to IDR 83.99 trillion at the end of December 2023.

Meanwhile, total equity was recorded at IDR 8.09 trillion until the third quarter of 2024, down from IDR 11.60 trillion at the end of 2023.

"This total asset and liability has decreased in general, resulting in toll road divestment, especially on the Bogor toll road," he said.

WSKT cash and cash equivalents were recorded at IDR 1.36 trillion until the end of September 2024. This figure is down when compared to the same period last year, which was IDR 1.51 trillion.