Shares of PT Krakatau Steel (Persero) Tbk (KRAS) surged sharply in the capital market throughout 2025. According to RTI Business data, KRAS’ share price has risen by 296.04% since the beginning of the year.

Krakatau Steel’s President Director, Muhamad Akbar Djohan, explained that the volatility in the company’s share price is purely a market-driven reaction. He emphasized that there is no undisclosed material information or event.

At present, Krakatau Steel is concentrating on operational transformation, cost efficiency, and strengthening its long-term financial fundamentals. This is reflected in its net profit achievement of US$ 24.04 million as of the third quarter of 2025.

“The fluctuations in KRAS’ share price are entirely driven by market response, and there is no material information or event that has not been announced. Our focus is on operational transformation, cost efficiency, and reinforcing long-term fundamentals,” Akbar stated during a virtual Public Expose on Tuesday (November 25, 2025).

KRAS is also promoting collaboration with global steel industry players, including Nippon Steel and Posco. According to Akbar, these strategic partnerships have been well-received by capital market investors.

The company is additionally accelerating its operational and debt restructuring efforts. Throughout the third quarter of 2025, KRAS managed to reduce operating expenses by 12% to US$ 74.72 million. Meanwhile, the company’s debt obligations declined following an asset haircut adjustment, resulting in total debt of approximately US$ 1.1 billion and an annual financial burden of US$ 50 million.

“Today we see that several investors have begun responding positively to the transformation initiatives we are implementing, including financial improvement measures, operational restructuring, and the potential rise in steel demand from national downstreaming projects,” he said.

Akbar further noted that Krakatau Steel has been able to recover under the management of the Investment Management Agency (BPI) Daya Anagata Nusantara (Danantara), which oversees investments totaling US$ 1 trillion.

“We have now become part of the Danantara group, which manages around US$ 1 trillion, and this makes us confident that Krakatau Steel will rise again and reclaim its position in its home country,” he concluded.