JAKARTA – PT Wahana Ottomitra Multiartha Tbk (WOMF) reported a net profit increase of IDR 262.9 billion in 2024, reflecting an 11.21% year-on-year (yoy) rise compared to IDR 236.4 billion in the previous year.

This growth was driven by a rise in revenue, despite a significant increase in operational expenses.

According to the financial report released on Wednesday (19/2), WOMF recorded total revenue of IDR 2.17 trillion in 2024, an 8.5% yoy increase compared to IDR 2 trillion in 2023.

WOMF’s net profit growth in 2024 was supported by a pre-tax profit increase of 2.8% yoy, reaching IDR 329.01 billion, after deducting income tax expenses amounting to IDR 66.1 billion for the same period.

Financially, the company's equity as of 31 December 2024 stood at IDR 1.89 trillion, up 11.18% yoy. Liabilities edged up 2.23% yoy to IDR 5.05 trillion compared to IDR 4.94 trillion in the previous year.

From a liquidity perspective, the company’s cash and cash equivalents surged significantly, reaching IDR 540.22 billion by the end of 2024, compared to IDR 343.77 billion in the prior year.

The growth in equity and liabilities contributed to a 4.67% yoy increase in WOMF's total assets, amounting to IDR 6.95 trillion. (DK)