JAKARTA - A state-owned construction issuer, PT Waskita Karya Tbk. (WSKT) is still experiencing pressure on the bottom line position, despite experiencing an increase in revenue throughout 2022. Waskita Karya actually recorded an increase in net losses compared to the previous year.
Based on WSKT's financial report, quoted on Monday, April 10, the company recorded revenues of IDR 15.30 trillion in 2022. This figure increased by 25.18 percent compared to the previous year which amounted to IDR 12.22 trillion.
WSKT's revenue was supported by construction services amounting to Rp13.56 trillion or an increase of 33.47 percent compared to 2021. Followed by toll road revenues of Rp916.56 billion and other business sector revenues such as property and infrastructure sales.
Along with the increase in revenue, WSKT's cost of revenue also jumped 34.16 percent to Rp13.85 trillion. As a result, the company's gross profit was cut 23.65 percent to Rp1.44 in 2022.
Meanwhile, WSKT recorded a net loss of IDR 1.89 trillion in 2022, or swelled 73.3 percent compared to the previous year which amounted to IDR 1.09 trillion.
Based on the balance sheet, WSKT's total assets also shrank 5.18 percent to IDR 98.23 trillion compared to 2021 which was valued at IDR 103.60 trillion.
Meanwhile, Waskita's liabilities fell to IDR 83.98 trillion in 2022, compared to IDR 88.14 trillion in the previous year. Equity also decreased to IDR 14.24 trillion compared to IDR 15.46 in 2021.
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