PT Wijaya Karya (Persero) Tbk. Archives

WIKA Reduces Debt by Rp1.47 Trillion, Improves Bond Rating in Q1-2025

The construction industry is under pressure by challenging global economic conditions. This is reflected by new contracts secured by PT Wijaya Karya (Persero) Tbk (WIKA) of only Rp2.16 trillion, which is lower compared to the same period the previous year. However, the Company booked Rp4.84 trillion in sales, comprising Rp3.11 trillion from non-joint operation projects (Proyek Non-Kerjasama Operasi) and Rp1.73 trillion from joint operation projects (Proyek Kerjasama Operasi, “KSO”).

Sales were mainly generated from the building and infrastructure segment, EPC, construction-related industries, and real estate property. The sales achievement enabled WIKA to book a gross profit of Rp393.46 billion, of which Rp231.33 billion came from non-KSO projects and the remainder from KSO projects.

WIKA’s consistent restructuring efforts have successfully reduced debts on its balance sheet to financial institutions and business partners by Rp1.47 trillion in Q1-2025 compared with 2024.

These positive achievements were also followed by proposals that were approved by bondholders, especially for the Wijaya Karya Shelf Registration Bond II Phase II Year 2022. This reflects stakeholders’ support for the Company’s ongoing restructuring plans. As a result of the approval, the credit rating agency, PT Pemeringkat Efek Indonesia (PEFINDO), upgraded WIKA’s Shelf Registration Bond II Phase II Year 2022 Series A rating from idD to idCCC. However, the Company must seek support from sukukholders of the Wijaya Karya Shelf Registration Sukuk Mudharabah II Phase II Year 2022 to approve the proposals presented, which are part of the Company’s restructuring plans.

“The Company expresses its deepest appreciation for the trust and support given by stakeholders. The ongoing restructuring plans are not only focused on improving our financial structure but also on strengthening our fundamentals and operations to attain greater excellence and maintain business sustainability,” said Agung BW, President Director of WIKA.

PT Wijaya Karya (Persero) Tbk. [IDX: WIKA]

Contact:
Mahendra Vijaya
Sekretaris Perusahaan
Email: mahendra.v@wikamail.id

WIKA Wins Two Prestigious ESG Awards for Commitment to Sustainability and Social Responsibility

PT WIJAYA KARYA (Persero) Tbk (WIKA) continues to demonstrate its commitment to being a national construction company with business performance excellence as well as sustainability and social responsibility performance. In April 2025, WIKA received two prestigious awards: InvestorTrust’s “Best Corporate Emission Reduction Transparency Award 2025” and The Iconomics’ “7th Indonesia CSR Brand Equity Awards 2025” for the Construction category.

The ”Best Corporate Emission Reduction Transparency Award 2025” was convened at the Sultan Hotel in Jakarta on Tuesday, 29 April 2025. The award was presented to companies that actively contributed towards national and global decarbonization efforts. WIKA was one of 95 selected awardees for its transparency and commitment to reporting and managing carbon emissions. Of the 370 companies nominated, WIKA was selected for having fulfilled the key criteria, including the timely release of the 2023 Sustainability Report, transparent emission declarations, and compliance with environmental governance principles without any serious legal conflicts.

On the same day, WIKA received another award in the “7th Indonesia CSR Brand Equity Awards 2025”, which was presented by The Iconomics dan Axia Research held at the Ministry of Transportation building. The event carried the theme “Developing Brand Companies with Government’s CSR Goals.” It served as a platform to recognize companies that have built strong and effective brand identities through CSR initiatives aligned with national development objectives. WIKA was recognized to have consistently incorporated sustainability values into its business strategy. The Company also demonstrated a strong commitment to implementing social responsibility programs that have a genuine impact on the environment and society.

“We believe a company’s success is determined not only by its financial performance but also by the good impact that it has on society and the environment. These two awards serve as motivation for everyone at WIKA to continue innovating and making meaningful contributions,” said Agung Budi Waskito (BW), President Director of WIKA.

As an important partner in national development, WIKA continues its active role in sustainability through various initiatives, from implementing inclusive and targeted CSR programs to energy efficiency and carbon emission management. WIKA remains committed to developing a responsible business that delivers added value to all stakeholders.

PT Wijaya Karya (Persero) Tbk. [IDX: WIKA]

Contact:
Mahendra Vijaya
Sekretaris Perusahaan
Email: mahendra.v@wikamail.id

Probowangi Toll Road Package 3 Reaches 74.9% Completion, WIKA Supports Logistics Efficiency and National Connectivity

PT Wijaya Karya (Persero) Tbk (WIKA) continues to support infrastructure development to connect regions across Indonesia, one of which is the Probolinggo-Banyuwangi (Probowangi) Toll Road Package 3, currently being undertaken by the Company. The project is at 74.9% completion and expected to be completed in 2025.

The Probowangi Toll Road is constructed to create better access between Probolinggo and Banyuwangi, which are now only connected by provincial roads. This toll road is expected to reduce traffic congestion on provincial roads, cut logistics costs, and improve economic competitiveness of Probolinggo, Banyuwangi, and surrounding areas. Travel time is projected to decrease by 30% to 50%, leading to more efficient fuel consumption. Overall, the toll road is expected to lower logistics costs by 10% to 20%.

WIKA has implemented the latest technology in this project, including Building Information Modelling (BIM) to enhance planning and design efficiency. Additionally, WIKA utilises geotechnical technology, employing 3D mapping and drones for more accurate land surveys. The Company also collaborates with local governments and communities to support regional economic growth by employing local workers and subcontractors.

As part of its strong commitment to Environmental, Social, and Governance (ESG), the Company also considers social and environmental impacts during the construction process. WIKA built village facilities, planted trees, and managed flood prevention works in areas around the construction site under its Program Tanggung Jawab Sosial (TJSL) or Corporate Social Responsibility Programme.

WIKA remains committed to provide high-quality infrastructure to reduce logistics costs and improve interregional connectivity in Indonesia. As a leading EPCC company, WIKA is dedicated to offer innovative, environmentally friendly solutions with positive social impact.

“Probowangi Toll Road project is one of our commitments to supporting the government’s Asta Cita mission. This infrastructure development enhances logistics efficiency, strengthens interregional connectivity, and supports the national economy. WIKA is confident in its ability to make a positive contribution to Indonesia’s economic growth and facilitate sustainable and efficient transportation,” said Agung Budi Waskito (BW), WIKA’s President Director.

PT Wijaya Karya (Persero) Tbk. [IDX: WIKA]

Contact:
Mahendra Vijaya
Sekretaris Perusahaan
Email: mahendra.v@wikamail.id

WIKA Books Sales of Rp21.48 Trillion, 20.6% Growth YoY

PT WIJAYA KARYA (Persero) Tbk. [IDX: WIKA] booked sales of Rp21.48 trillion in 2022, a 20.6% growth year-on-year (YoY) compared with Rp17.81 trillion booked in 2021.

WIKA’s President Director, Agung Budi Waskito (Agung BW), said that the largest contributors to WIKA’s sales performance were the infrastructure and building segment, followed by the industry segment, energy and industrial plant segment, and finally realty and property segment.

“This achievement shows that WIKA’s operations has become more sustained and more efficient. This can be seen from WIKA’s project burn rate of 39% in 2022, an improvement from 30.2% in 2021. The Company also recorded a higher gross profit margin of 10.3% in 2022, higher than 9.5% in 2021,” said Agung BW.

The good operating performance was a result of WIKA’s success in completing domestic projects in 2022, such as the Sukamahi Dam in West Java. WIKA has also completed supporting projects for the G20 Summit, such as revitalisation of VVIP terminals at I Gusti Ngurah Rai International Airport in Bali and Halim Perdana Kusuma International Airport in Jakarta. WIKA has also completed installation of the 50,000 DWT single point mooring in Pengapon, Central Java to improve national energy resilience.

WIKA Sets Transformation Strategy
Following the achievements in 2022, WIKA has set transformation steps to ensure more prudent project selection, adopting lean construction, stronger digitalisation through closer integration of WIKA’s BIM capabilities and ERP systems, and strengthening the Company’s financial position.

“Through its transformation strategy, WIKA will have a more effective business process to achieve better results for both project owners and the Company,” said Agung BW.

PT WIJAYA KARYA (Persero) Tbk. [IDX: WIKA]

Contact Person:
Mahendra Vijaya
Sekretaris Perusahaan
Email: mahendra.v@wikamail.id

WIKA Achieves Rp865 Billion Operating Income

PT WIJAYA KARYA (Persero) Tbk. [IDX: WIKA] successfully booked an operating income of Rp865.5 billion or 29.7% higher on a year-on-year basis (YoY) as recorded in the financial statement for the period ended on 30 September 2022. This figure reflected WIKA’s success in recording sales of Rp12.8 trillion or 9.8% higher YoY.

WIKA’s President Director, Agung Budi Waskito (Agung BW), said that the largest contributors to WIKA’s sales performance were the infrastructure and building sector, industry sector, energy and industrial plant sector, and the realty and property sector.

“This achievement shows that the strategy implemented to strengthen the core business has proven successful to improve WIKA’s profitability,” said Agung BW.

One of WIKA’s achievements in strengthening its core business was proven by WIKA’s ability to complete the G20 supporting projects, such as the revitalisation of the VVIP Terminal of Halim Perdanakusuma Airport in Jakarta and the VVIP Terminal of I Gusti Ngurah Rai International Airport in Bali. The quality of these projects has received a lot of praise from the ministers.

The success in carrying out the two projects helped the Company to secure the contract for the development of Hang Nadim International Airport, Batam.

Going forward, Agung BW believes that WIKA will be able to sustainably strengthen its core business by improving governance, risk management, marketing, and operations while being consistent in preserving the quality of the projects entrusted to the Company.

As at October 2022, WIKA has secured new contracts worth Rp25.5 trillion, which include several projects for the new capital city (Ibu Kota Negara, “IKN”). WIKA has secured projects to construct the KKT Kariangau – Simpang Tempadung toll road segment. Under the WIKA Gedung Joint Operation (Kerjasama Operasional, “KSO”), the Company secured the project to construct modular buildings to house workers. In addition, WIKA together with PTPP KSO managed to secure contracts for the construction of the Presidential Palace and Presidential Office. In total, new contracts from IKN projects was worth Rp2.3 trillion.

“WIKA has experience in carrying out various projects in Kalimantan, such as water infrastructures, bridges, toll roads, buildings, and the supply chain supporting these projects. WIKA’s capacity to work on these projects is without doubt,” Agung BW explained.

In addition to the IKN projects, WIKA has secured contracts for the Vertical Hospital in East Java, duplication of Kapuas Bridge in Central Kalimantan, and construction of the Juwana River Rubber Dam in Central Java.

PT WIJAYA KARYA (Persero) Tbk. [IDX: WIKA]

Contact:
Mahendra Vijaya
Sekretaris Perusahaan
Email: mahendra.v@wikamail.id
Website: https://www.wika.co.id/

WIKA Books Sales of Rp7.18 Trillion in Q2-2022

PT WIJAYA KARYA (Persero) Tbk. [IDX: WIKA] successfully booked a gross profit of Rp627.24 billion in Q2-2022 or 14.8% higher on a year-on-year basis (YoY) as recorded in the financial statement for the period ended on 30 June 2022. This figure was supported by the Company’s sales of Rp7.18 trillion or 6.2% higher YoY.

WIKA’s President Director, Agung Budi Waskito (Agung BW) said the improvement in sales performance was enabled by a 2% increase in infrastructure and building sector, 9.8% increase in industry sector, and 167.6% increase in realty & property sector YoY. Most of the revenue in realty & property sector was contributed by the hotel business as a result of the State-owned Enterprises or BUMN hotel holding process by WIKA’s subsidiary, WIKA Realty.

As at July, WIKA has secured new contracts worth Rp14.67 trillion. The largest contributors were the infrastructure and building sector of 58.4% and the industry sector of 22.7%. The high number of new contracts in these sectors is also due to the strategic infrastructure development program that is being promoted by the Indonesian Government to face the G20.

PT WIJAYA KARYA (Persero) Tbk. [IDX: WIKA]

Contact:
Mahendra Vijaya
Sekretaris Perusahaan
Email: mahendra.v@wikamail.id
Website: https://www.wika.co.id/

PEFINDO Affirms idA Rating for WIKA

PT Pemeringkat Efek Indonesia (Pefindo) affirms PT Wijaya Karya (Persero) Tbk (IDX: WIKA or Company) rating at idA with ‘stable’ outlook. Pefindo also affirms WIKA’s Shelf Registration Bonds I Year 2020 and Shelf Registration Bonds II Year 2021 at idA, and Shelf Registration Sukuk Mudharabah I Year 2020 and Shelf Registration Sukuk Mudharabah II Year 2021 at idA(sy).

The Company’s rating reflects Pefindo’s optimism in its performance as a strong, national construction company supported by robust financial flexibility and diversified revenue sources. One of the reasons of the affirmation was an increase in new contracts by 57.54% YoY to Rp12.4 trillion (at time of writing) from Rp7.9 trillion.

The rating by Pefindo was well-received by the Company’s President Director, Agung Budi Waskito (Agung BW). He stated that the Company was able to cement its strong position due to WIKA’s assignment to work on the Government’s G20 preparation projects, such as Revitalisation of Halim Perdana Kusuma Airport, Construction of VVIP Terminal of I Gusti Ngurah Rai Airport, and Improvement and Construction of Roads and Bridges in Labuan Bajo.

“The assignment indicated the government’s trust in WIKA’s capability to carry out projects serving as supporting facilities for international events”, said Agung BW.

He added that the Company is prepared to take part in the upcoming construction of the new Capital City.

Follow-up Construction in Labuan Bajo to Celebrate TWG20

The Company plays a role in the Improvement and Construction of Roads and Bridges in Labuan Bajo, Nusa Tenggara Timur to support the G20’s Tourism Working Group (TWG) meeting. The project also helped to realise the Super-Priority Tourism Destinations project (Destinasi Pariwisata Super Prioritas, “DPSP”). In the project, the Company is building roads and bridges spanning from Labuan Bajo – Sp. Nalis – Sp. Kenari, Sp.Kenari – Tana Mori with a total length of 25 kilometres.

This project is a follow-up of the Company’s earlier projects in Labuan Bajo. Its portfolio in Labuan Bajo includes the Operations Supporting Facilities and the Wae Kelambu Multipurpose Terminal at Labuan Bajo Port for PT Pelabuhan Indonesia (Persero). Completed in 2021, the port serves as a logistics hub, tourism support, and cargo and container handling in Labuan Bajo. In addition, the Company’s subsidiary, WIKA Gedung oversaw development of Pantai Bukit Marina and Bukit Pramuka, part of the National Strategic Tourist Areas.

In carrying out the projects, the Company always used high quality domestic products increase operations efficiency and support national economic growth.

PT WIJAYA KARYA (Persero) Tbk. [IDX: WIKA]

Contact:
Mahendra Vijaya
Sekretaris Perusahaan
Email: mahendra.v@wikamail.id
Website: https://www.wika.co.id/

WIKA Books Rp17.81 Trillion in 2021 Sales, 7.7% Higher Than 2020; Positive Recovery Indicator in 2021

PT WIJAYA KARYA (Persero) Tbk. [IDX: WIKA] booked Rp17.81 trillion in sales 2021 as recorded in the financial statement for the period ended on 31 December 2021. This achievement was 7.7% higher compared with 2020.

The largest contributor to sales was the infrastructure and building segment, followed consecutively by energy and industrial plant; industry; realty & property; and investment.

WIKA’s President Director, Agung Budi Waskito (Agung BW) stated that the increase in sales suggested a positive recovery indicator in WIKA’s performance throughout 2021.

“The increase in sales was on the back of operating activities that recovered gradually. In 2021, WIKA was able to complete several dams, toll roads, and engineering, procurement, construction & commissioning (“EPCC”) projects. These projects enabled WIKA to record positive performance with a net profit of Rp214.42 billion,” said Agung BW.

Agung BW added that in 2021, WIKA recorded a 5.26% decrease in interest expense to Rp1.16 trillion from Rp1.22 trillion in the same period of previous year (YoY). “The decrease in interest expense was due to WIKA’s efforts to reprofile high interest, short-term loans into bonds and sukuk mudharabah with longer tenor and lower coupon,” Agung BW stated.

The achievements in 2021 will enable WIKA to continue its positive performance next year and recover to pre-pandemic operating level.

Welcoming 2022 with New Opportunities: New Capital City and G20 Summit

WIKA optimistically welcomes 2022 as the year of further economic recovery. The construction sector plays an important role in the recovery, whereby WIKA has secured Rp6.1 trillion in new contracts at end of February 2022 or 14% of its 2022 target of Rp42.6 trillion.

WIKA’s new contracts include the Makassar New Port Access Road, Pondok Aren-Serpong Toll Road, Semarang-Demak Toll Road Section 1B, and reconstruction and rehabilitation work at Donggala Port.

The G20 Summit which will be held in Indonesia presents opportunities for WIKA as the government is preparing the necessary infrastructure to support this event that will be attended by leaders of G20 countries.

Agung BW continued that WIKA is readying itself to participate in the construction of the new capital city, starting from basic infrastructure.

“With strong integration between the construction and manufacturing segments, WIKA is able to offer added-value and is ready to build high-quality basic infrastructure in the new capital city,” Agung BW concluded.

PT WIJAYA KARYA (Persero) Tbk. [IDX: WIKA]

Contact:
Mahendra Vijaya
Sekretaris Perusahaan
Email: mahendra.v@wikamail.id
Website: https://www.wika.co.id/