Pakuwon's Net Profit Surges 29%, VAT DTP Incentive Becomes Key

PT Pakuwon Jati Tbk (PWON) recorded a stable performance trend in the first quarter of 2026. This property issuer booked net revenue of Rp 1.65 trillion, up 6% from the same period last year at Rp 1.56 trillion. This growth was driven by the strong performance of its recurring income portfolio amid global economic uncertainties. PWON’s Chief Financial Officer and Corporate Secretary, Minarto Basuki, stated that the shopping mall retail sector remains the main driver of PWON’s revenue, achieving Rp 1.03 trillion, an increase of 9% compared to the previous year. The hospitality segment followed with significant growth of 11%, reaching Rp 340 billion. “Conversely, revenue from office leasing experienced an 11% correction to Rp 62 billion,” said Minarto, in a statement quoted by Kompas.com on Thursday (30/4/2026). In terms of composition, retail leasing contributed 63% of total revenue, followed by hotels and serviced apartments at 20%. The revenue increase had a positive impact on the company’s gross profit, which grew 10% to Rp 941 billion. EBITDA also rose 10% to Rp 916 billion, with the EBITDA margin improving from 54% to 56%. PWON also recorded a 29% surge in net profit, reaching Rp 512 billion. This sharp increase was influenced by a drastic reduction in foreign exchange difference expenses, dropping from Rp 118 billion in Q1-2025 to just Rp 16 billion in this period. On the sales side, PWON booked marketing sales of Rp 316 billion, a slight 4% decline from last year.