Transformation Yields Results: Wika's Debt Declines by 7.4 Percent

JAKARTA, KOMPAS.com - PT Wijaya Karya (Persero) Tbk recorded a debt reduction of Rp 2.97 trillion, or 7.4 percent, in the first quarter of 2026 compared to the same period the previous year. This decline consists of partner debt amounting to Rp 2.01 trillion and interest-bearing debt of Rp 959.72 billion. The company states that this debt reduction is part of efforts in transformation and strengthening the company’s financial fundamentals. “This demonstrates the company’s commitment to continuously fulfilling obligations to business partners and creditors,” explained WIKA’s President Director Agung Budi Waskito (BW) in a press release on Thursday (30/4/2026). In addition to the debt reduction, WIKA also recorded new contract acquisitions of Rp 2.53 trillion in the first quarter of 2026, a 17.2 percent growth compared to the same period the previous year. With this achievement, the company’s ongoing contract position reaches Rp 33.89 trillion. The company also recorded total sales of Rp 3.90 trillion, derived from non-Joint Operation (KSO) projects amounting to Rp 2.60 trillion and KSO projects of Rp 1.30 trillion. The largest sales still come from the infrastructure and building segment, construction support industry, as well as energy and industrial plant. From an operational perspective, WIKA recorded an increase in operating margins. The gross profit margin in the first quarter of 2026 improved to 9.1 percent from 7.4 percent in the same period last year. Gross profit and operational EBITDA up to March 2026 also increased by 3 percent and 10.3 percent respectively, to Rp 238.36 billion and Rp 104.9 billion. Meanwhile, operating expenses decreased by 10.5 percent year-on-year. According to Agung, the margin improvements and efficiency indicate positive results from the company’s transformation initiatives. “The margin improvements and efficiency are evidence that the transformation steps being implemented are starting to yield positive results. The company will continue to focus on strengthening operational fundamentals and financial discipline to drive healthier and more sustainable performance,” he added. Moving forward, WIKA will continue its strategy of selective project selection, strengthening governance and cash flow management, as well as project implementation to maintain the company’s business sustainability.