Waskita Karya Records An Increase In Gross Profit By 14.4 Percent In The Second Quarter Of 2025

Photo: Special

JAKARTA - PT Waskita Karya (Persero) Tbk showed positive performance during the second quarter of 2025 with an increase in gross profit of 14.4 percent year on year (yoy) or IDR 83.1 billion.

That way, the value becomes IDR 661.3 billion from the previous IDR 578.2 billion.

Waskita Karya Finance Director Wiwi Suprihatno said the increase in gross profit was the result of the company's efficiency and restructuring efforts.

Wiwi said that the success of efficiency can be seen from the decrease in financial expenses which reached 18.3 percent yoy, from Rp2.3 trillion in the second quarter of last year to Rp1.9 trillion.

"The improvement in performance is the result of Waskita's effective implementation of financial restructuring," he said in an official statement, Friday, July 18.

"Last year, the company received approval from 22 creditors from the Master Restructuring Agreement (MRA) and the 2021 Guarantee Working Capital Credit (KMKP) with an outstanding value of IDR 31.65 trillion," continued Wiwi.

On the other hand, Wiwi explained that the company is currently committed to paying obligations to vendors.

As of May 2025, continued Wiwi, the remaining debt of Waskita's past due vendor owed before 2022 amounted to Rp73 billion, a drastic decrease of up to 78.53 percent from the position in the first quarter of 2025 which reached Rp340 billion.

"In October 2024, the latest MRA restructuring proposal has been declared effective. So the Company now has flexibility over its cash waterfall scheme and cash management, so that the company's operational activities can run more smoothly, including in fulfilling vendor debt obligations," said Wiwi.

In the future, he said, Waskita will focus on carrying out the company's transformation in order to improve performance.

His focus includes financial stability through ongoing restructuring, returning to core business as a pure contract and avoiding various investment projects.

Then, strengthen good governance as a whole, as well as improve the competence of human resources through employee certification.

"We continue to strive to carry out all these transformations, so that Waskita can continue business activities in a sustainable manner. Then in the end, we are able to contribute positively to the development of the nation and state," he said.