Hutama Karya's New Contracts Rise 22%, Profit Exceeds Target
Jakarta - PT Hutama Karya (Persero) has recorded a consolidated net profit reaching 174.96% of its target under the Company Work Plan and Budget (RKAP) for Semester I-2026. This achievement was supported by the Trans-Sumatra Toll Road (JTTS) operating segment, which has now become the main profit contributor, in line with the company’s decision to be more selective in taking on construction contracts to maintain the quality of its balance sheet.
“The profit achievement for Semester I-2026 confirms that Hutama Karya’s transformation is heading in the right direction. As JTTS’s contribution grows as a source of recurring income, we also remain disciplined in maintaining the quality of our order book and balance sheet health,” explained Hutama Karya President Director, Koentjoro, in a written statement on Wednesday (22/7/2026).
Based on the unaudited consolidated financial report as of 30 June 2026, the value of new contracts obtained throughout Semester I 2026 amounted to IDR 6.30 trillion, an increase of 22.1% compared to the same period last year. These acquisitions came from road, bridge, building, water resources, manufacturing, and toll road Operation & Maintenance (O&M) projects.
Furthermore, the company’s equity also rose by 2.30% year-on-year, reaching 101.49% of the RKAP target, while debt fell by 11.49% year-on-year. The debt reduction continues the deleveraging trend that has been ongoing since 2024 and strengthens the company’s capital structure.
Revenue was recorded at 81.83% of the RKAP target. This achievement continues the trend from the first quarter of 2026, which also exceeded the target.
This profit structure reflects a shift in Hutama Karya’s business model from a pure contractor to an infrastructure developer and operator, with a growing portion of recurring income as more toll road sections become operational.
The cost of goods sold (HPP) ratio was recorded at 81.86% of revenue, relatively stable compared to the previous year. The largest contribution came from the toll road operations segment and subsidiaries.
The company’s order book until the end of the second quarter of 2026 was recorded as having increased by 6.24% compared to the first quarter of 2026, with the majority coming from government projects.
On strategic assignments, Hutama Karya added 24.4 km of new toll road sections during the second quarter of 2026, namely Betung-Jambi (16.8 km), Palembang-Betung (4.5 km), and Rengat-Pekanbaru (3.1 km). This is 2.4 times the addition of 10.1 km in the first quarter of 2026. Cumulatively, the total JTTS built has reached 1,117.6 km.
The Palembang-Betung and Betung-Jambi Section 1 toll roads are targeted to be operational by the end of 2026.
Meanwhile, from the operational side, JTTS traffic continues to show a positive trend. In Semester I 2026, JTTS traffic was recorded at 17 million vehicles, an increase of 16% compared to the previous year.
“Overall, the Semester I 2026 performance reflects Hutama Karya’s transition from a volume growth orientation to profit quality and balance sheet health. Profit exceeding the target, new contracts growing 22.1%, and debt continuing to decline place the company in a better position to face the second half of 2026,” he concluded.