PT Waskita Karya (Persero) Tbk managed to book a net profit of Rp294 billion or grew by 28.95% compared to the 1H21 achievement of Rp155 billion. This was achieved due to the successful implementation of Waskita's 8 streams of financial restructuring.

Operating income in the first semester of 2022 (“1H22”) increased to Rp6.09 trillion or grew by 29.29% YoY compared to the same period in 2021 (“1H21”) of Rp4.71 trillion. This growth was supported by improvements in several revenue segments such as construction, toll roads, and property. In addition, greater absorption of State Equity Participation (“PMN”) funds also supports the growth of the Company's operating revenues.

The Company also managed to book a gross profit of Rp657 billion or grew 29.36% YoY compared to 1H21 of Rp508 billion. As a positive impact of the Master Restructuring Agreement (“MRA”), the Company managed to reduce its financial burden by 3.07% to Rp1.97 trillion.

The Company's corporate action through a strategic partnership with PT Sarana Multi Infrastruktur (“SMI”) through the share swap mechanism has been completed. Where the Company took over the ownership of SMI's shares in PT Waskita Toll Road ("WTR") for 4.501% and continued with the acquisition of 55% shares of PT Waskita Toll Road ("WTR") in PT Cimanggis Cibitung Toll Road ("CCT") by SMI.

With this corporate action, the Company's total liabilities, which were previously recorded at Rp88.14 trillion at the end of 2021, managed to decrease by 12.40% to Rp77.21 trillion in 1H22. The Company's total equity in 1H22 was Rp19.94 trillion, and the Company's total assets were recorded at Rp97.14 trillion.

The Company's Corporate Secretary, Novianto Ari Nugroho said that in the second half of 2022, the Company will continue to focus on its operational business, especially through the absorption of larger PMN funds to support the completion of the Company's existing projects.

"In this second semester, the Company is also optimistic that it will be able to complete a series of transactions for the Company's 3 other toll roads through a strategic partnership, where this corporate action will have an impact on reducing the Company's debt through debt deconsolidation so that the Company's financial burden will also decrease significantly. It is hoped that through these corporate actions and also through improving operational performance, the Company can record sustainable performance growth going forward," added Novianto.