Throughout 2024 PT Wijaya Karya (Persero) Tbk (WIKA) managed to book non-operating cooperation (KSO) sales of IDR 19.24 trillion with KSO sales of IDR 12.12 trillion. Thus, in total the Company posted sales of Rp31.36 trillion.
The largest contribution of the Company's sales came from the infrastructure & building segment which reached 49%, followed by the construction support industry segment 28%, EPCC 17% and the rest came from the management and sales of the property segment. For this achievement, the Company managed to book a gross profit of Rp1.48 trillion.
The achievement of sales and gross profit is the result of the transformation that has been carried out by the Company throughout 2024. Where WIKA continues to focus on conducting excellent project execution, efficiency through the application of lean construction, digitizing business processes and improving governance and implementing stronger risk management.
This improved project management is reflected in the Company's operating cash flow which has returned to positive since 2020, amounting to Rp68.22 billion in 2024. In addition, the Company's interest-bearing debt and trade payables also decreased by Rp1.37 trillion and Rp3.28 trillion respectively in 2024 compared to 2023. Due to these efforts, the Company's performance improved by 68.2% to negative Rp2.27 trillion from the previous year's negative Rp7.13 trillion.
“The improvement in the Company's performance is also reflected in the Company's current ratio in 2024 of 158%, better than the 2023 position of 80%. In addition, the Company's interest-bearing debt ratio compared to equity (gearing ratio) also managed to be in the position of 2.71 times compared to the 2023 position of 3.52 times. This is achieved thanks to the support of all stakeholders and the Government in strengthening the Company's capital structure and the Company's efforts to continue to focus on cash,” said WIKA President Director Agung Budi Waskito (BW).
Agung BW expressed its appreciation to all stakeholders and the Government for supporting the Company's financial restructuring efforts. This support makes the Company optimistic in answering future challenges. The Company strives to always maintain the trust of stakeholders and the Government by consistently carrying out transformation, improving project execution and implementing digitalization and lean construction. For these various implementations, the international independent institution S&P Global also pinned a score of 53/100 for WIKA's ESG score far above the industry average and made it rank 25 globally.