Waskita Karya Still Losing IDR 3.6 Trillion, Dirkeu: In The Recovery Phase

Rupiah (Photo: Antara)

JAKARTA - PT Waskita Karya (Persero) Tbk (WSKT) still recorded a loss of IDR 3.6 trillion in September 2025. This figure is almost equivalent to the same period in the previous year.

Waskita Karya Finance Director Wiwi Suprihatno said the company was still in the recovery stage with a main focus on reducing liabilities and adjusting the proportion of assets.

"Meanwhile, from the bottom line, net losses were still recorded at IDR 3.6 trillion. This is almost similar to the previous year, which the company is still in the recovery phase," Wiwi said at the Public Expose 2025, Tuesday, November 4.

The company's operating revenue was only IDR 5.3 trillion, down 22 percent compared to the same period last year.

Wiwi explained that the decline was caused by a decrease in the value of the contracts managed due to a decrease in the value of the new contract (NKB) which was acquired by the company.

This revenue is still dominated by construction services with a contribution of 71.2 percent. The main projects that support revenue include those from PT Hutama Karya, the Ministry of Public Works (PU), PT Jalan Tol Trans Jabar Tol Tol, PT Jasa Marga Probolinggo Banyuwangi and PT Angkasa Pura II.

Despite the loss, Waskita showed signs of improvement in efficiency. The gross profit margin rose from 14.7 percent in September 2024 to 18.5 percent in September this year.

EBITDA was recorded at IDR 29.3 billion. Its value decreased mainly due to the profit from divestment on the Bocimi Toll Road of IDR 250.4 billion in 2024. Meanwhile, in 2025, the profit from divestment will only be in divestment activities for Waskita Sangir Energi amounting to IDR 11.7 billion.

"In terms of financial expenses, an 18 percent year-on-year suppression was successfully carried out from Rp3.5 trillion to Rp2.8 trillion. This certainly reflects the improvement in liquidity and benefits from the implementation of the restructuring process which is still ongoing," explained Wiwi.

In balance, WSKT's total assets reached IDR 71.9 trillion, down 6.8 percent compared to the end of 2024. The decline was due to the transfer of ownership of toll road management rights in Palembang.

Meanwhile, liabilities fell 2.5 percent year to date (ytd) to IDR 67.6 trillion, indicating consistent company steps to reduce debt burdens. On the other hand, Waskita's equity is now recorded at IDR 4.4 trillion, a decrease of 44.5 percent due to current losses.

"Overall, this movement shows the direction of consolidation and sustainable financial arrangement where Waskita Karya continues to strengthen the balance sheet structure and maintain a business focus so that it remains solid in the midst of the transformation process," he concluded.