WIKA's Financial Performance Declines Over the Past Five Years

Market

Premium

Adi Ahdiat 10/07/2024 08:50 WIB

URL has been copied

Memuat...

Since 2019, PT Wijaya Karya Tbk (WIKA)'s financial performance has declined, resulting in a loss of Rp7.13 trillion in 2023.

Profit/Loss PT Wijaya Karya Tbk/WIKA (2019-2023)

A Small Font
A Medium Font
A Bigger Font

You are accessing content Single Data Premium.
To continue, please subscribe or buy individually.

Professional

Enjoy premium access with a more affordable price.

Start from

~~Rp300.000~~ 150.000/month

Access more premium content and exclusive features for customers.

Start from

50.000/month

Hanya Rp833 per artikel

More details »

Buy Retail

Read the article immediately “WIKA's Financial Performance Declines Over the Past Five Years”.

Rp10.000

We accept the following payments:

Some payment methods are still in the process of being activated.

Profit/Loss PT Wijaya Karya Tbk/WIKA (2019-2023)

Download

Source

A Small Font
A Medium Font
A Bigger Font

Based on its income statement, PT Wijaya Karya Tbk (WIKA)'s financial performance has continuously declined over the past five years.

In 2019, this state-owned enterprise (SOE) still managed to record a net profit attributable to the parent entity of Rp2.29 trillion.

However, its profit drastically decreased since 2020, even turning into a loss since 2022.

Its losses even swelled to Rp7.13 trillion in 2023, almost 120 times the loss in 2022.

According to WIKA's President Director, Agung Budi Waskito, their losses in 2023 surged, partly due to the Jakarta-Bandung High-Speed Rail (KCJB) project, also known as the Whoosh High-Speed Rail.

Agung stated that in 2023, they had to issue bonds to fulfill the equity participation in the project.

"Besides that, we have outstanding debts amounting to Rp5.5 trillion. So, to obtain almost Rp12 trillion, we had to issue bonds worth Rp11 trillion," said Agung, as reported by *Katadata* on Tuesday (July 9, 2024).

Agung also stated that WIKA's losses in 2023 swelled due to high interest expenses and other expenses.

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."