In 3Q20, WIKA booked an income of IDR3.25 trillion (-53% YoY, +11% QoQ). However, the high financial cost of IDR397 billion pushed the bottom line to record a net loss of IDR200 billion and 9M20 profit to IDR50 billion. New contract acquisitions in 3Q20 which were better than 2Q20 provides a positive cataltyst for WIKA’s performance until the end of the year. Meanwhile, WIKA must control its interest-bearing debt, in order to withstand a jump in leverage ratio.
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