"It is thanks to the successful implementation of Waskita's 8 financial restructuring streams," Waskita's Corporate Secretary, Novianto Ari Nugroho, noted in an official statement here, Friday.
Operating income in the first semester of 2022 also rose to Rp6.09 trillion, up 29.29 percent (yoy), from Rp4.71 trillion during the same period in 2021.
The growth was supported by improvements in several revenues from construction, toll roads and property, among others.
The company also recorded a gross profit of Rp657 billion, up 29.36 percent (yoy), from Rp508 billion during the same period last year.
Moreover, as a positive impact of the Master Restructuring Agreement (MRA), the company managed to reduce its financial burden by 3.07 percent to Rp1.97 trillion.
Nugroho also highlighted that the company had completed a strategic partnership with PT Sarana Multi Infrastruktur (SMI) through the share swap mechanism.
The company took over SMI's share ownership in PT Waskita Toll Road (WTR) for 4.5 percent and continued with the takeover of 55 percent of PT Waskita Toll Road's (WTR's) shares in the PT Cimanggis Cibitung Toll Road (CCT) by SMI.
Hence, the company's total liabilities, which were earlier recorded at Rp88.14 trillion at the end of 2021, decreased by 12.40 percent to Rp77.21 trillion in the first semester of 2022, he added.
The company's total equity in the first semester of 2022 was recorded at Rp19.94 trillion, and its total assets were recorded at Rp97.14 trillion.
In the second semester of 2022, the company will continue to focus on its operational business, especially through the absorption of larger state capital injection (PMN) funds to support the completion of the company's existing projects.
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Translator: Kuntum KR, Fardah
Editor: Sri Haryati
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