Solid Financial Performance, BSBK Ready To Launch The Saphire Apartment

JAKARTA - PT Wulandari Bangun Laksana Tbk (BSBK), the manager of the Balikpapan Superblock (BSB) area located in Balikpapan, East Kalimantan Province managed to record solid financial performance throughout 2023. The Company was able to record sales and operating income and net profit of IDR 347 billion and IDR 39 billion in 2023, respectively.

Solid performance, encourages BSBK management to continue to expand in order to strengthen business lines. In 2024, the Company plans to pre-launch the Saphire Apartment with a height of 13 floors and a total building area of 18,921.17 m2.

This apartment has a total number of 212 units consisting of 101 type 1 rooms, 81 units of type 2 rooms, 24 units of type 3 rooms and 6 units of firecraft type. The facilities in this apartment include a gym, infinity sweeping pool, functional room, Children playground and yoga room.

In addition, the apartment unit is complete with a smart home and semi-furnished system. The Company hopes to get total sales of IDR 500 billion from this project.

BSBK is the manager of one of the integrated commercial areas with facilities ranging from the eWalk shopping center and Pentacity, 5 Grand Jatra Hotel star hotel, 4 Pentacity hotel and Astara Hotel, 2 J.Icon star hotel, Bina Bangsa School international school, exclusive apartment residence, Aquaboom water recreation area, sports center and BSB beach entertainment in East Kalimantan Province.

In 2023, the Company has added 41 rooms for the Pentacy Hotel. It is planned that by 2024, the Company will add 53 more rooms so that the total room units will become 197 rooms, a significant increase compared to the total room units in 2023 which will only be 144 units.

The company also managed to increase the occupancy of Mall Pentacy and Mall Ewalk, where in 2023, the occupancy of Mall Pentacy reached 86.81 percent, an increase compared to 2022 which was only 80.78 percent. Meanwhile, for Ewalk Mall, the occupancy rate increased to 95.53 percent in 2023 compared to 2022 which was only 94.81 percent.

The company plans to increase the occupancy of Mall Pentacy and Mall Ewalk this year to 90 percent and 99.5 percent in a row. With the increase in occupancy carried out and the tenant mix, the Company believes to be able to increase the appeal for the residents of Balikpapan and the city around East Kalimantan.

On the performance side, in 2023, the Company recorded sales and operating income of IDR 347 billion. This figure has increased by 31 percent compared to IDR 265 billion in 2022. From the sales segment, the Company recorded an increase of 60 percent, while from the rental income segment, it increased by 27 percent. The increase in sales and rental income occurred due to the end of the COVID-19 pandemic and the impact of the development of the Capital Nusantara. The increase in sales and operating income of the Company managed to boost operating profit in 2023, reaching IDR 110 billion, growing 38.71 percent compared to 2022 which only recorded IDR 79 billion.

The increase in the performance of the business and income segments was able to boost the Company's net profit by Rp39 billion in 2023. This achievement shot up 895.81% compared to BSBK's net profit of Rp3 billion in 2022.

"The increase in net profit occurred due to increased operational performance and the efficiency of financial expenses that have been carried out by the Company," wrote Daniel Wirawan, Director of the Company, quoted Monday, April 22.

Meanwhile, the Company's total assets in 2023 were recorded at IDR 2.49 trillion, there was no significant change compared to total assets in 2022 of IDR 2.52 trillion.

On the other hand, in 2023, the Company managed to reduce total debt from IDR 875 billion to IDR 808 billion. The Company's total equity in 2023 was recorded at IDR 1.68 trillion, up 2.41 percent compared to 2022 of IDR 1.64 trillion. This increase was due to the increase in the Company's profit balance in 2023.