Pakuwon Jati Tbk (PWON) Q2 2025 earnings summary

Executive summary

• Revenue for the six months ended June 30, 2025 reached Rp 3.37 trillion, up 3.4% year-over-year, driven by growth in rental, hotel, and real estate sales.

• Net income for the period was Rp 1.39 trillion, a 32.6% increase compared to the same period last year.

• Gross profit rose to Rp 1.88 trillion, with a gross margin of 55.7% for the period.

• Cash and cash equivalents stood at Rp 7.27 trillion as of June 30, 2025.

• A partial bond buyback of US$66.56 million was completed in May 2025, reducing outstanding bonds to US$333.45 million.

Financial highlights

• Revenue increased to Rp 3.37 trillion for H1 2025 from Rp 3.26 trillion in H1 2024.

• Net income attributable to owners was Rp 1.14 trillion, up from Rp 846 billion year-over-year.

• Earnings per share rose to Rp 23.59 from Rp 17.57 year-over-year.

• Total assets reached Rp 35.56 trillion as of June 30, 2025, up slightly from Rp 35.37 trillion at year-end 2024.

• Operating cash flow for H1 2025 was Rp 1.45 trillion.

Outlook and guidance

• Ongoing development projects in Surabaya, Bekasi, and Semarang are expected to support future revenue.

• Management expects continued growth in recurring income from malls, hotels, and service apartments.

• No significant changes in business strategy or capital structure are anticipated.