Anticipating Progress in BUMN Karya’s Performance

The debt issues confronting several state-owned construction companies (BUMN Karya) in particular are impacting the expansion plans the companies intend to pursue. To ensure a sustainable rebound in performance, there is a pressing need for effective strategies to address these challenges.

Dionisio Damara

4 Des 2023 - 18.41
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Anticipating Progress in BUMN Karya’s Performance

An employee crosses the logo of PT Waskita Karya (Persero) Tbk in Jakarta. Photo/JIBI/-Abdurachman

Bisnis, JAKARTA — The debt issues confronting several state-owned construction companies (BUMN Karya) in particular are impacting the expansion plans the companies intend to pursue. To ensure a sustainable rebound in performance, there is a pressing need for effective strategies to address these challenges.

PT Wijaya Karya (Persero) Tbk. (WIKA), PT Waskita Karya (Persero) Tbk. (WSKT), PT Adhi Karya (Persero) Tbk. (ADHI), and PT PP (Persero) Tbk. (PTPP) have disclosed their financial performances for the Q3 2023. WIKA, the latest state-owned construction company (BUMN Karya) to report its performance for January-September 2023, incurred losses amounting to IDR 5.84 trillion in the Q3 2023.

Despite the losses incurred in the Q3 2023, WIKA still demonstrated a growth of 17.88% year-on-year (YoY) in net income for January-September 2023, reaching IDR 15.07 trillion. This positive performance was driven by the infrastructure and buildings segment, contributing IDR 8.09 trillion, the industrial segment of IDR 3.42 trillion, and the energy and industrial plants segment of IDR 2.58 trillion.

However, during the same period, the company reported a cost of revenue amounting to IDR 13.86 trillion. After deducting revenue from the cost of goods, WIKA's gross profit showed a YoY growth of 10.33%, reaching IDR 1.21 trillion.

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Editor: Aprilian Hermawan
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Anticipating Progress in BUMN Karya’s Performance

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