PT Wijaya Karya (Persero) Tbk (WIKA) recorded new contracts worth IDR 6.19 trillion and sales of IDR 9.09 trillion through September 2025. The majority of these sales came from the infrastructure and building segment (39%), EPCC (25%), construction support industry (29%), followed by the real estate & property segment, and investments. This was achieved thanks to the Company's consistent efforts to maintain its business fundamentals to remain competitive and productive amid the current challenging conditions in the construction industry.
The Company's consistent efforts include 8 sub-streams of restructuring, such as improving governance and the order book portfolio, as well as 4 main pillars of cash flow improvement, such as debt restructuring, non-core asset recycling in long-term investments, acceleration of receivables collection, and the implementation of operational excellence across all business lines.
Thanks to these efforts, by the third quarter of 2025, the Company had successfully reduced its interest-bearing debt by IDR 2.20 trillion and its partner debt by IDR 924.58 billion compared to the same period the previous year. The Company also succeeded in reducing Account Receivable Days (receivables turnover effectiveness) and Account Payable Days (debt payment effectiveness) to 127 days and 158 days, from 142 days and 196 days in the same period the previous year. The impact of these efforts has made operations more efficient, as reflected in the Company's ability to maintain positive core operations of IDR 287.83 billion.
WIKA President Director Agung Budi Waskito (BW) emphasized the importance of improving fundamentals and gaining stakeholder support amid the current infrastructure conditions.
“It is crucial for WIKA to achieve strong financial fundamentals through innovation and transformation to operate efficiently amid the current challenging conditions. Additionally, we are actively building intensive communication with our stakeholders, as support from all parties is needed for these strengthening and revitalization efforts to proceed smoothly,” said Agung BW.
Translated with DeepL.com (free version)