These are the State-Owned Enterprises (SOEs) with the Highest Profits in Q1 2023

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Adi Ahdiat 09/05/2023 18:31 WIB

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PT PP Tbk (PTPP) achieved the highest profit among state-owned construction companies (BUMN Karya) in the first quarter of 2023, significantly outperforming Adhi Karya (ADHI), Waskita Karya (WSKT), an

Net Profit/Loss of State-Owned Construction Companies (Q1 2023)*

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These are the State-Owned Enterprises (SOEs) with the Highest Profits in Q1 2023

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Net Profit/Loss of State-Owned Construction Companies (Q1 2023)*

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"BUMN Karya" refers to state-owned enterprises (SOEs) operating in the construction sector.

Currently, four BUMN Karya parent companies are listed as public companies: PT Waskita Karya Tbk (WSKT), PT Wijaya Karya Tbk (WIKA), PT PP Tbk (PTPP), and PT Adhi Karya Tbk (ADHI).

PTPP recorded the highest net profit among BUMN Karya in the first quarter of this year.

At the end of Q1 2023, PTPP reported a net profit attributable to the parent entity of Rp34.2 billion, a 21.5% increase year-on-year (yoy).

Over the same period, ADHI's net profit increased by 18.9% (yoy) to Rp8.45 billion.

In contrast to PTPP and ADHI, WSKT recorded a net loss attributable to the parent entity of Rp374.9 billion at the end of Q1 2023, a 54% decrease (yoy) compared to the loss in Q1 of the previous year.

WIKA also recorded a loss of Rp521.3 billion, the largest among the BUMN Karya parent companies. In Q1 of the previous year, WIKA had still managed to record a profit of Rp1.3 billion.

Despite some companies making profits and others incurring losses, all these BUMN Karya companies still have debts totaling tens of trillions of rupiah.

WSKT has the largest debt, with liabilities representing 86% of its total assets. WIKA's debt proportion to total assets reached 76.7%, PTPP's 74.7%, and ADHI's 77.4%.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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These are the State-Owned Enterprises (SOEs) with the Highest Profits in Q1 2023

These are the State-Owned Enterprises (SOEs) with the Highest Profits in Q1 2023

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