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WIKA's Net Profit Grows 46,66%

by Sebastianus Epifany Monday, December 4, 2017 - 10:50

JAKARTA - In accordance with the results of the audit of financial statements as of September 30, 2017, PT WIJAYA KARYA (Persero) Tbk. ("WIKA") posted a profit of 64 billion in the third quarter of 2017 or grew 46,66% over the same period last year.

The net profit was supported by WIKA's sales in the third quarter of 2017, which reached Rp 15,88 trillion, up 69,99% from Rp 9,34 trillion YOY.

The Company's cash and cash equivalents amounted to Rp 7,24 trillion with a total interest-bearing debt of Rp 8,61 trillion with total equity of Rp 13,18 trillion. This shows gross gearing and net gearing ratios of 0,65 and 0,10, respectively, showing the Company's ability to fund infrastructure projects is still very large.

The trust to WIKA is reflected in the contracts faced by WIKA, which until the end of October 2017 has reached Rp 99,2 trillion or 96,13 % of the contract target faced in 2017 worth Rp 103,24 trillion.

WIKA won a new contract amounting to Rp 34,67 trillion or soared 34% over the same period last year. Thus, the Company has achieved 80,16% of the new contract target in 2017 of Rp 43,25 trillion.

"The positive growth of the Company is also supported by the application of technology in various projects. WIKA is developing Building Information Modeling (BIM) which can generate visualization by combining the situation picture around the project with the design of structures which will be built so that the risks can be mitigated from the beginning and help planning process that is more precise in terms of cost, quality and time," said Director of WIKA Bintang Perbowo in a press release received by Infrastructure Asia (4/12/2017).

BIM's technology has been implemented in the Balikpapan toll road project - Samarinda, Airport development in Oecussee and Velodrome construction undertaken by PT WIKA Gedung Tbk. which is a subsidiary of WIKA.

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