PT Wijaya Karya (Persero) Tbk (WIKA) continued to deliver positive results from its transformation efforts in the first quarter of 2026, reflected in increasingly excellent and efficient core operations. This is evidenced by improved core operating margins, stronger financial fundamentals, and higher new contract acquisition compared to the same period last year.
The Company recorded new contract acquisition of IDR 2.53 trillion in Q1 2026, representing a 17.2% increase year-on-year. This achievement brings the Company’s order book to IDR 33.89 trillion. Despite ongoing challenges in the construction market and global uncertainties, this indicates a positive signal of recovery in the national infrastructure sector.
In line with this, WIKA posted total revenues of IDR 3.90 trillion, consisting of IDR 2.60 trillion from non-joint operation projects and IDR 1.30 trillion from joint operation projects. Revenue contributions were primarily driven by the infrastructure and building segment, construction support industry, as well as energy and industrial plant.
Consistent transformation initiatives have led to improved operational margins. The Company’s gross profit margin increased to 9.1% in Q1 2026 from 7.4% in the same period last year. As a result, gross profit and operating EBITDA as of March 2026 rose by 3% and 10.3%, reaching IDR 238.36 billion and IDR 104.9 billion, respectively. These consistent efficiency efforts also contributed to a 10.5% year-on-year reduction in operating expenses.
From a balance sheet perspective, the Company has consistently reduced its total debt by IDR 2.97 trillion, or 7.4%, comprising a reduction in payables to partners by IDR 2.01 trillion (down 33.4%) and interest-bearing debt by IDR 959.72 billion (down 2.8%) compared to Q1 2025. This reflects the Company’s commitment to fulfilling its obligations to partners and creditors.
President Director of WIKA, Agung Budi Waskito, stated that these achievements highlight the importance of maintaining consistency in transformation and strengthening the Company’s fundamentals.
“The improvement in margins and efficiency demonstrates that our transformation initiatives 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,” said Agung BW.
Moving forward, WIKA will continue to implement selective project acquisition, strengthen governance and cash flow management, and enhance project execution excellence to ensure business sustainability and create added value for all stakeholders.