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Monday, 21 March 2022, 16:00 HKT/SGT

Source: PT Wijaya Karya (Persero) Tbk.
WIKA Books Rp17.81 Trillion in 2021 Sales, 7.7% Higher Than 2020; Positive Recovery Indicator in 2021

JAKARTA, Mar 21, 2022 - (ACN Newswire) - PT WIJAYA KARYA (Persero) Tbk. [IDX: WIKA] booked Rp17.81 trillion in sales 2021 as recorded in the financial statement for the period ended on 31 December 2021. This achievement was 7.7% higher compared with 2020.

The largest contributor to sales was the infrastructure and building segment, followed consecutively by energy and industrial plant; industry; realty & property; and investment.

WIKA's President Director, Agung Budi Waskito (Agung BW) stated that the increase in sales suggested a positive recovery indicator in WIKA's performance throughout 2021.

"The increase in sales was on the back of operating activities that recovered gradually. In 2021, WIKA was able to complete several dams, toll roads, and engineering, procurement, construction & commissioning ("EPCC") projects. These projects enabled WIKA to record positive performance with a net profit of Rp214.42 billion," said Agung BW.

Agung BW added that in 2021, WIKA recorded a 5.26% decrease in interest expense to Rp1.16 trillion from Rp1.22 trillion in the same period of previous year (YoY). "The decrease in interest expense was due to WIKA's efforts to reprofile high interest, short-term loans into bonds and sukuk mudharabah with longer tenor and lower coupon," Agung BW stated.

The achievements in 2021 will enable WIKA to continue its positive performance next year and recover to pre-pandemic operating level.

Welcoming 2022 with New Opportunities: New Capital City and G20 Summit

WIKA optimistically welcomes 2022 as the year of further economic recovery. The construction sector plays an important role in the recovery, whereby WIKA has secured Rp6.1 trillion in new contracts at end of February 2022 or 14% of its 2022 target of Rp42.6 trillion.

WIKA's new contracts include the Makassar New Port Access Road, Pondok Aren-Serpong Toll Road, Semarang-Demak Toll Road Section 1B, and reconstruction and rehabilitation work at Donggala Port.

The G20 Summit which will be held in Indonesia presents opportunities for WIKA as the government is preparing the necessary infrastructure to support this event that will be attended by leaders of G20 countries.

Agung BW continued that WIKA is readying itself to participate in the construction of the new capital city, starting from basic infrastructure.

"With strong integration between the construction and manufacturing segments, WIKA is able to offer added-value and is ready to build high-quality basic infrastructure in the new capital city," Agung BW concluded.


Mahendra Vijaya
Sekretaris Perusahaan
Email: mahendra.v@wikamail.id
Website: https://www.wika.co.id/

Topic: Press release summary
Source: PT Wijaya Karya (Persero) Tbk.

Sectors: Daily Finance, Local Biz
From the Asia Corporate News Network

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