PT Wijaya Karya (Persero) Tbk (WIKA) continues to consistently implement its transformation and financial restructuring initiatives. Throughout 2025, the Company recorded new contracts amounting to IDR 17.46 trillion, contributing to a total order book of IDR 50.52 trillion. From these ongoing contracts, the Company generated revenue of IDR 20.45 trillion, comprising IDR 13.33 trillion from non-Joint Operation (JO) projects and IDR 7.12 trillion from JO projects, resulting in a gross profit of IDR 1.13 trillion.
The Company’s Gross Profit Margin (GPM) increased from 7.9% in 2024 to 8.5% in 2025. This improvement was primarily driven by WIKA’s core business segments, namely infrastructure & buildings and EPCC. The Company’s operational excellence and strong project management capabilities were also reflected in a positive operating EBITDA of IDR 426.52 billion, indicating improved operational performance amid the ongoing restructuring process.
On the financial side, the Company continued to strengthen its capital structure by reducing accounts payable by IDR 1.79 trillion and interest-bearing debt by IDR 2.08 trillion, representing declines of 29.5% and 5.9% year-on-year, respectively. This demonstrates WIKA’s ability to manage projects in a sustainable and efficient manner, as well as its commitment to reducing liabilities and maintaining cash flow balance amid industry pressures.
In addition to driving operational excellence and improving its capital structure, the Company has accelerated receivables settlement through eight financial restructuring streams, including legal mediation and active collection efforts. As a result, WIKA successfully reduced receivables by IDR 1.89 trillion, or 29.2%, to IDR 4.58 trillion, and decreased construction work in progress by IDR 1.15 trillion, or 34.6%, in 2025.
Corporate Secretary of WIKA, Ngatemin (Emin), stated that the Company continues to focus on improving operational performance and strengthening its capital structure.
“Consistent improvements in operational performance and capital structure through the implementation of eight financial restructuring streams serve as a key foundation for maintaining the Company’s competitiveness and sustainability. This year, the Company will continue to pursue comprehensive restructuring efforts to reduce financial burdens arising from assigned projects, as well as to divest assets that have not yet generated returns,” said Emin.
Furthermore, Emin emphasized that the Company believes its transformation efforts require support from all stakeholders, including shareholders, creditors, business partners, and other stakeholders. Therefore, WIKA will continue to maintain intensive communication with its majority shareholders to secure the necessary support, as well as with creditors to support the Company’s financial recovery plan.