WIKA Records 48.3% Net Profit Increase as of Q3-2019

Nov 05, 2019 20:00 JST

Source: PT Wijaya Karya (Persero) Tbk.

- Winner in the International Year in Infrastructure 2019

JAKARTA, Nov 05, 2019 - (ACN Newswire) - PT WIJAYA KARYA (Persero) Tbk. [WIKA] announced a net profit of Rp1.57 trillion as of Q3-2019, a 48.31% increase year-on-year compared with the same period in 2018.

As of September 2019, the Company has secured new contracts with a combined value of Rp25.74 trillion, up by 2% compared with the same period last year. In terms of project owners, the largest share of new projects was from the private sector at 46%, followed by State-owned Enterprises (Badan Usaha Milik Negara, BUMN) at 40%, overseas customers at 10%, and Indonesian Government at 4%.

Of the new contracts, the largest contributor was the infrastructure and building segment, followed by energy and industrial plant, WIKA Group's manufacturing industry, and property businesses.

WIKA's gearing ratio, i.e. ratio of interest-bearing debt to equity, in Q3-2019 was at 1.19x, which is relatively lower than the Company's debt covenant of 2.5x. The figure shows that the Company is in good financial health and has adequate room for further business expansion in the future.

Winner in the International Year in Infrastructure 2019

WIKA again raised Indonesia's profile at the International Year in Infrastructure 2019 (YII 2019) held in Singapore on Thursday, 24 October 2019. In the YII 2019 Awards ceremony, WIKA was named the category winner for "Going Digital: Advancements in Bridges."

The award was presented by Mark Hattersley, Bentley's Senior Director of Construction Operations to Fery Safaria, WIKA's Engineering Manager of Civil Engineering I Department.

Present on stage to receive the award with Fery Safaria was Roem Olifwan, Manager of the Operations Division, Buildings Department; Romi Ramadhan, BIM Manager; Tjatoer Wahyudi, Engineering Manager; and Rizky Yusuf Ramadhan, Bridge BIM Engineer.

"This international award is a recognition for WIKA BIM team's performance. Going forward, WIKA will continue to focus optimizing the adoption of this technology to increase its bargaining power and further develop its business in the construction sector," said Fery Safaria.

In the prestigious annual global infrastructure competition held from 21 to 24 October 2019, WIKA's Fery Safaria and Rizky Yusuf Ramadhan succinctly described the Design and Build Harbour Road 2 Project's complexity, consistency, continuous innovation, efficiency, and practical BIM leadership to develop solutions.

The results were outstanding, as WIKA was able to outperform two other finalists - Italy's Italferr S.p.A and China's Shenzhen Municipal Design and Research Institute Co., Ltd. To put the achievement in context, the International Year of Infrastructure 2019 received nominations for 571 projects from 440 organisations in 60 countries worldwide.

In the past two years, WIKA's projects have won twice in a row at the International Year in Infrastructure 2019. In the 2018 edition held in the UK, WIKA was the first nominee from Indonesia and winner in the Environmental Engineering category for its BIM implementation in the Landslide Disaster Protection Project in Bogor. In addition, WIKA also won for its BIM implementation in the Teluk Lamong Flyover Project.

Recognition from a reputable company such as Bentley shows that BIM plays an important role for the success of WIKA's projects. Its adoption has proven to provide greater accuracy in planning and create efficiencies in project turnaround and cost.

Contact:
Mahendra Vijaya
Sekretaris Perusahaan
Email: mahendra.v@wikamail.id

Source: PT Wijaya Karya (Persero) Tbk.
Sectors: Daily News