ADHI - PT. Adhi Karya (Persero) Tbk

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+3 (+2,00%)

JAKARTA - PT Adhi Karya (Persero) Tbk (ADHI) secured new contract throughout 2023 worth IDR 37.4 trillion, soaring 58% from IDR 23.7 trillion seen in 2022.

Farid Budiyanto, Corporate Secretary of ADHI, mentioned that said new contracts surpass the target set in 2022 of approximately 15% to 20%. “New contracts are dominated by engineering and construction business line by 93%, followed by manufacturing line with 3%, while the remaining comes from property & hospitality, as well as investment,” he added in the press release quoted Wednesday (10/1).

According to Budiyanto, the target-surpassing contract is driven by additional contracts obtained in December 2023, namely Serang-Panimbang Toll Road Section III, Banten; Data Centre Building of Bank Indonesia, Karawang; IKN Toll Road Section 3A-2 of Kerangjoa Segment, Karjangu; IKN Hospital and waste pipe network in IKN; and Mandaya Royal Jakarta Hospital construction.

It is mentioned that new contracts will lead to sustainable revenue growth of the company. “The highest amount of contract value in 2023 is railways in the Philippines, totalling to IDR 3.9 trillion in July 2023,” said Budiyanto. (LK/ZH)