Krakatau Steel Records Net Profit of Rp 79.2 Billion in Q1 2026

JAKARTA, KOMPAS.com - PT Krakatau Steel (Persero) Tbk (KRAS) recorded a net profit of US$4.6 million, equivalent to Rp 79.2 billion (assuming an exchange rate of Rp 17,216 per US dollar), in the first quarter of 2026.

Krakatau Steel’s President Director, Muhammad Akbar Djohan, stated that this achievement continues the company’s positive performance trend from the previous year.

However, the Q1 2026 financial report has not yet been officially released.

“Alhamdulillah, in Q1 we managed to close with a net profit of approximately US$4.6 million,” he said during a media briefing in Jakarta on Monday (27/4/2026).

According to him, the company is striving to maintain this performance on a sustainable basis, rather than just a temporary improvement.

“We continued the financial performance in Q1 because we do not want last year’s financial report to be merely cosmetic. We want fundamental improvements,” he said.

The performance in 2025 also enabled the company to emerge from losses, as in 2024 Krakatau Steel still recorded a loss of US$154.71 million, equivalent to Rp 2.5 trillion (exchange rate of Rp 16,157 per US dollar as of 31 December 2024).

Furthermore, Akbar explained that the improvement in Krakatau Steel’s performance is inseparable from the additional capital obtained from Danantara at the end of 2025.

The value of the capital injection amounted to US$295 million or approximately Rp 4.9 trillion.

Those funds were mostly used for working capital, particularly the purchase of raw materials, which had previously been the company’s main constraint.

“Danantara helped inject capital to us in December of about Rp 5 trillion, and that was dedicated to buying raw materials. That was one reason we couldn’t compete, because we lacked the ability to purchase raw materials, and the banking sector had not yet provided those facilities,” he explained.