Waskita Karya reports 53.73% revenue rise amid restructuring
Construction services drove the increase, while the Indonesian contractor said debt had fallen 20.8% since the end of 2023.
PT Waskita Karya (Persero) Tbk reported Rp8.13 trillion in revenue for January–September 2026, up 53.73% from Rp5.29 trillion a year earlier, as the Indonesian contractor continued restructuring its finances and operations.
Revenue from construction services increased 71.5% to Rp6.45 trillion from Rp3.76 trillion. Government projects accounted for Rp3.9 trillion in project realisation supporting the results, the company said.
Corporate secretary Steven Subiantoro said in a statement dated 22 October 2026 that operational improvements had accompanied the restructuring effort, which began in 2023. Waskita signed a Master Restructuring Agreement involving 21 banks in 2024 and continues to implement it, he said.
The company said payments towards financial charges rose to Rp1.06 trillion from Rp1.02 trillion. Repayments of long-term bank loans reached Rp701.39 billion, compared with Rp393.65 billion previously, an increase of 78.18%. Separately, Steven said Waskita had reduced its finance costs to Rp2.79 trillion.
Waskita said its debt had declined 20.8% since the end of 2023, to Rp66.5 trillion from around Rp84 trillion. It also said all overdue tax obligations had been settled following the restructuring’s implementation, leaving no overdue tax debt as of 2024.
Steven said Waskita would focus on restoring its core contracting operations, prioritising projects with monthly payments and avoiding turnkey arrangements to maintain working-capital stability. The company also continues to coordinate with stakeholders and shareholders, including Danantara, on its recovery.
