Hutama Karya Records Net Profit Reaches IDR 2.7 Trillion Throughout 2024

Illustration (Photo: Doc. ANTARA)

JAKARTA - PT Hutama Karya (Persero) noted that net profit throughout 2024 reached IDR 2.7 trillion.

This figure has improved performance by 47.7 percent compared to the previous year.

Hutama Karya President Director Budi Harto said, based on the (audited) financial statements released, Hutama Karya recorded a net profit of IDR 2.7 trillion or an improvement in performance of 47.7 percent compared to 2023.

"The company's revenue also shows a good increase, reaching IDR 30.3 trillion or 12.4 percent better than 2023 with the company's EBITDA reaching IDR 4.3 trillion, growing 21.3 percent from the previous year," Budi said in his official statement, Thursday, March 20.

In the company's financial position, Hutama Karya's total assets grew 15.5 percent to Rp196 trillion with better company equity to Rp138 trillion. This figure is up 18.3 percent compared to the previous year.

"The company's equity position was driven by additional State Equity Participation (PMN) of Rp. 18.6 trillion and accumulated profit for the year and profit for the previous year," he said.

Hutama Karya also managed to obtain a new contract worth IDR 34.8 trillion or 12.8 percent better than the previous year.

This contract is dominated by the road and bridge sector which covers 84.4 percent of the total contracts or Rp29.6 trillion, followed by the water resources (SDA) sector of 7.8 percent or Rp2.7 trillion as well as the building sector and transportation infrastructure which contributed 5.6 percent or reached Rp1.9 trillion.

While other segments contributed 2.2 percent of the total new contracts.

In more detail, Budi added, Hutama Karya also received several projects with a Government and Business Entity Cooperation (PPP) scheme, namely Jalan Trans Papua Jayapura section Wamena Segmen Mamberamo Elelim through the HK-HKI consortium with an investment fee of IDR 3.3 trillion.

In addition, the company was also appointed as the winner of the BUP KPBU Panorama I (Lauik I Review) Flyover construction project in West Sumatra Province. The two KPBU projects use the Design, Build, Finance Operate, Maintain and Transfer (DBFORMT) scheme.

To encourage construction performance, the company always strengthens, controls costs, quality, time and integrated governance.

Then, make efficiency in operating expenses to optimize the focus of the champion in the road and bridge segments as the main portfolio in the stream revenue.

"In 2024, SOE projects dominate the acquisition of Hutama Karya's new contract with a contribution of 85 percent, followed by government projects of 11.3 percent and private projects of 3.7 percent," said Budi.

The various infrastructure projects that were successfully completed throughout 2024, include RSIA Sardjito in Yogyakarta, Turyapada Tower, Ngoerah RSIA and Relayout Sanglah Hospital in Bali.

In addition, the company has also succeeded in completing the Kobema Drinking Water Supply System (SPAM) project in Bengkulu, NCICD Beach Security in Jakarta and the Binjai Cross-Medan Railway (JLKAMB 2) construction project.

Then, the Joglo Underpass project in Surakarta as well as a geometric widening and repair project of Jalan Soreang'Rancabali'Cidaun in Bandung & Cianjur Regency which this year can be used as a homecoming route to projects in the energy sector including the Muara Offer 650 MW Gas and Steam Power Plant (PLTGU) in Bekasi and PLTGU Tambak Lorok 779 MW in Semarang.