WIKA cuts debt by Rp3.87 trillion in 2025 amid restructuring push
Friday, April 3 2026 - 03:57 PM WIB
By Romel S. Gurky
PT Wijaya Karya (Persero) Tbk (IDX: WIKA) reduced its debt by Rp3.87 trillion in 2025 as the state-owned engineering and construction firm continued its financial restructuring and transformation efforts.
The company lowered trade payables by Rp1.79 trillion and interest-bearing debt by Rp2.08 trillion, representing year-on-year declines of 29.5% and 5.9%, respectively, according to a statement released on April 2.
WIKA also accelerated receivables collection as part of its restructuring program, cutting receivables by Rp1.89 trillion, or 29.2%, to Rp4.58 trillion, while construction work in progress fell by Rp1.15 trillion, or 34.6%.
On the operational side, WIKA booked Rp17.46 trillion in new contracts in 2025, bringing its total order book to Rp50.52 trillion.
Revenue reached Rp20.45 trillion, consisting of Rp13.33 trillion from non-joint operation (non-KSO) projects and Rp7.12 trillion from joint operation (KSO) projects. Gross profit stood at Rp1.13 trillion, down from Rp1.52 trillion in 2024.
Read also : WIKA nears completion of Serang–Panimbang toll road Section 2
Despite the decline in profit, the company’s gross profit margin improved to 8.5% from 7.9% a year earlier, supported by its core infrastructure and Engineering, Procurement, Construction and Commissioning (EPCC) segments.
WIKA also posted a positive operating EBITDA of Rp426.52 billion, reflecting improving operational performance amid ongoing restructuring.
Corporate Secretary Ngatemin said the company remains focused on strengthening its capital structure and sustaining operational improvements.
“Consistent improvements in operational performance and capital structure form a critical foundation to maintain the company’s competitiveness and sustainability,” he said.
The company plans to continue its comprehensive restructuring this year, including efforts to reduce financial burdens from assigned projects and divest non-performing assets.
WIKA added it will maintain close coordination with shareholders, creditors and business partners to support its restructuring process.
Editing by Reiner Simanjuntak