JAKARTA – The performance of PT Waskita Beton Precast Tbk (WSBP) in 2022 skyrocketed, turning the tides from nearly IDR 2 trillion loss in 2021 to a net profit of IDR 675 billion at the end of December 2022.

This achievement resulted from the increased revenue of 49% year-on-year (yoy) in 2022, leading to IDR 2.06 trillion. Asep Mudzakir, Director of Finance and Risk Management of WSBP, further specified that the 2022 revenue was made up of contributions of various segments, including precast of 40.3%, ready-mix of 19.9%, and construction services of 39.8%. After deducting the cost of revenue, WSBP managed to retain gross profit of IDR 304 billion.

Furthermore, according to the press release issued yesterday (9/4), until last year, WSBP’s total assets clocked up to IDR 5.96 trillion. Thus, with the net profit worth IDR 675 billion in 2022, the return-on-assets of WSBP arrived at 11%.

“WSBP has initiated a business transformation program with three main pillars: Operational Excellence, Business Nourishment, as well as Technology & Digitalization,” Mudzakir further explained. With those strategies on hand, WSBP is targeting to score sustainable growth in 2023, projecting 10%-15% growth in revenue, as well as 100%-150% yoy growth in new contract value in 2023. (ZH)