Waskita Beton Precast Records Operating Revenue Of IDR 642 Billion Throughout Semester I-2023

JAKARTA - PT Waskita Beton Precast Tbk (WSBP) recorded operating revenues of IDR 642 billion during the first semester of 2023.

This revenue was supported by three company business lines, namely pre-print concrete at 31 percent, readymix segment at 48 percent, and construction services at 21 percent.

Not only in terms of operating income, WSBP also managed to record a gross profit of IDR 96 billion, of which the company recorded gross profit margin growth to 15 percent compared to the same period last year.

The company was also able to make efficiency in terms of general and administrative expenses of 39 percent from previously recorded at IDR 546 billion in the same period in 2022.

WSBP Director of Finance and Risk Management Asep Mudzakir stated that the focus of the management he leads is to increase WSBP's operational performance achievements.

"The year 2023 is a crucial period for WSBP to improve the company's financial performance again after the restructuring. This shows optimism from WSBP management to realize WSBP performance with healthier business and financial fundamentals," Asep said in his official statement, Tuesday, August 1.

The new WSBP contract until June 2023 reached IDR 975 billion, an increase of 46 percent compared to the same period in 2022.

The various major projects obtained by the company are the Presidential Secretariat Building and Supporting Buildings for the Presidential Palace of the Republic of Indonesia, the Construction of Work Roads/Logistics IKN (KIPP) of the Sepaku Segmen 4 Ring Road Development Package, and the Tempadung- Balang Island 5A Simpang Toll Road Project.

"We are also committed to achieving a project contract that has a healthy financial fundamental," said Asep.

Asep said, in the short term, WSBP has the market potential to supply precast and readymix products to government projects and expand to the Non Waskita Group project.

"Meanwhile, for the next 3-5 years there will be market potential from the construction of the new nation's capital city (IKN) as well as projects originating from the non-Waskita Group," he said.

He said the WSBP will also increase competitiveness in potential markets, in particular the cooperation scheme with BUMN and private groups, the potential for mobile plant development on project-based plants, as well as having units with more competitive production costs, and increasing kelincancy and competitiveness with increased digitalization in business processes.

According to Asep, the WSBP market expansion effort was carried out in tandem with the improvement of sustainable business processes.

Later, he continued, WSBP will continue its business transformation program with three main pillars, namely Operational Exellence, Business Noury, and Technology and Digitalization.

"We believe the program will be able to increase WSBP competitiveness," he concluded.