PT Waskita Karya (Persero) Tbk managed to return positive performance results in the third quarter of 2022. It can be seen in the very significant growth of the Net profit of the Company where Waskita recorded a net profit of Rp. 578.17 billion, a 766.60% increase from the same period last year of Rp. 66.71 billion.
Waskita's President Director, Destiawan Soewardjono, said that the improvement in Waskita's performance until the third quarter of 2022 indicates that the financial restructuring strategy with eight streams that we have implemented since last year has been going well.
“This net profit achievement was supported by the construction, fabrication, property, and strategic partnership revenues for three toll roads in the third quarter. Waskita as one of the state-owned companies that contribute to assisting the Government's program in accelerating the development of toll road infrastructure and other infrastructure, we are not only able to build toll roads that are beneficial to the community, but are also able to record profitability through a strategic partnership business process," he said.
From January to September 2022, The Company recorded operating revenues of Rp. 10.30 trillion, growing 44.61% compared to the same period in 2021 of Rp. 7.12 trillion. The Company also managed to record a gross profit of Rp.988.15 Billion which grew by 28.77% from last year, which was Rp.767.40 billion. This growth was supported by improvements in several construction segments and the application of lean construction (efficiency control of project management costs and administrative expenses), in all projects. The Company recorded total assets of Rp. 99.90 trillion, total liabilities of Rp. 82.40 trillion, and The Total company equity of Rp. 17.50 trillion.
Furthermore, Destiawan said, in the fourth quarter, Waskita will focus on increasing operational productivity, including several projects in the State Capital (IKN) that The Company won the tender process.
" We are targeting accelerated progress of existing projects. Waskita is not only pursuing revenue targets but also maintaining the trust that has been given by the Government and The Clients by paying attention to the quality and the time of work as stated in the contract," he continued.
In addition, to improve The Fundamental financial condition of The Company, at the end of this year The Company is going to receive State Capital Investment (PMN) of IDR Three Trillion for the completion of the two Kayu Agung-Palembang-Betung (KAPB) and Bogor-Ciawi-Sukabumi (Bocimi) toll roads. , where The PMN absorption process is through the Rights Issue method with Pre-emptive Rights (HMETD) following OJK Regulation Number.14/POJK.04/2019 and has received approval from the majority of the Company's shareholders through the General Meeting of Shareholders. The target for obtaining the public portion of Rights Issue funds is IDR 980 billion and will be used to strengthen the working capital structure and CAPEX for The Company and its subsidiaries,” he added.
With the improved performance of this company, it is hoped that all stakeholders will have more confidence that Waskita can return to being a state-owned company that has healthy financial performance. "I also emphasize to all levels to remain consistent in carrying out the transformation process, refocusing resources, implementing digitalization in all business processes, and strengthening Good Corporate Governance (GCG) as our joint commitment," concluded Destiawan.
