JAKARTA – PT Wijaya Karya Bangunan Gedung Tbk (WEGE) is setting new contract target to IDR 5.1 trillion for 2024, relatively stagnant compared to new contract realisation per 2023, which also reached IDR 5.1 trillion.

“Per August 2024, new contracts have reached IDR 1.68 trillion, dominated by government and SOE projects,” as revealed by Tomo Dwihasputro, Director QHSE and Marketing of WEGE, during Public Expose Live 2024 held this afternoon (30/8).

In addition, WEGE also project lower revenue in 2024, of IDR 3.63 trillion, compared to 2023 revenue realisation of IDR 3.98 trillion, or down 8.8% year-on-year (yoy).

It seems that this realistic projection is set after noticing WEGE’s revenue in June 2024 that slipped 14.82% yoy, from IDR 1.62 trillion to IDR 1.38 trillion.

However, WEGE’s net profit target is quite ambitious, set to IDR 89 billion. In fact, until June 2024, WEGE only booked net profit of IDR 18.61 billion, up 6% yoy.

This optimistic target is driven by several ongoing projects of WEGE, including a Skyhouse project commissioned by PT Risland Sutera Property, Paspampres Flats in IKN, and TNI Modular Housing in IKN. (ZH)