Improved Capital, Waskita Karya Search Strategic Partners In The Toll Business Toquit Debt Of Up To IDR 23 Trillion In 2025

Waskita Karya Building. (Photo: Doc. Antara)

JAKARTA - PT Waskita Karya (Persero) Tbk targets a reduction in consolidated debt of up to IDR 23 trillion by 2025. Currently, the company's debt value reaches IDR 82.4 trillion.

Waskita Karya's Director of Finance and Risk Management, Wiwi Suprihatno, explained that his party would take strategic steps so that the amount of debt would continue to be reduced.

Furthermore, Wiwi said that one strategy to reduce the company's debt was to carry out strategic partners in the toll road sector.

"Of course we do it to reduce the portion of debt, so that the level of debt will decrease, where by 2025 the company targets to consolidate debt of IDR 23 trillion," he said in a virtual press conference, Monday, November 14.

Wiwi said the commitment to reduce the amount of debt was also supported by an improvement in the company's equity position which increased by 13.18 percent in the position in September 2022 to 17.5 percent.

According to Wiwi, the improvement was due to the impact of the provision of State Capital Statements (PMN) and rights issues in 2021 and 2022.

"So this year we project that our debt to equity ratio (DER) level will be 2-3 times. And in the future our DER will improve at the level 1-2 times," he said.

For your information, throughout the period from January to September 2022, the issuer with the same code as WSKT posted company revenues of IDR 10.3 trillion. This figure grew 44.61 percent compared to the same period the previous year of IDR 7.12 trillion

Meanwhile, the company's net profit was recorded at IDR 578.17 billion. This number increased by 766.60 percent from the same period last year, which was IDR 66.71 billion.