Jakarta, March 2024 PT Waskita Beton Precast Tbk (ticker code: WSBP) has released its Audited Financial Statements as of December 31, 2023. Throughout 2023, WSBP managed to record operating revenues of Rp1.49 Trillion and Net Profit of Rp6.30 Billion.

 

WSBP's Vice President of Corporate Secretary, Fandy Dewanto, pointed out that the achievement of 2023 performance is the result of the implementation of a robust business strategy. "WSBP management consistently executes the commitments outlined in the company's transformation program plan to enhance the company's performance and financial position," said Fandy.

 

WSBP's operating revenue was supported by contributions from the company's main business segments. The Precast Concrete business segment contributed IDR540,39 billion in revenue, the Readymix segment managed to record the largest revenue of IDR579,84 billion, while the Construction Services segment earned IDR367,35 billion in revenue.

 

In line with the performance improvement program, WSBP has successfully maintained its operating profitability, achieving a gross profit margin of XNUMX% or IDR XNUMX billion. This accomplishment is attributed to WSBP's ongoing strategy to enhance production processes and implement effective raw material supply chain management.

 

Furthermore, WSBP has also achieved a Net Profit for the Year of IDR 6,30 billion. This marks a positive milestone for WSBP, as it has reported a net profit for two consecutive years following the completion of financial restructuring.

 

WSBP is dedicated to upholding its commitment to business transformation by continuously enhancing operating expense efficiency. This dedication is demonstrated by the successful reduction of Sales Expenses by 19,7% and General & Administrative Expenses by 6,8%. WSBP's efficiency strategy focuses on improving production processes and embracing digitalization.

 

WSBP recorded a 30% increase in advertising expenses in 2023, aligning with the company's marketing program to reach a broader consumer base and expand market share. This strategic investment resulted in a 14% increase in the value of new contracts, amounting to IDR 1,74 trillion throughout 2023.

 

The 2023 financial statements of WSBP were audited by the public accounting firm Hertanto, Grace, Karunawan (KAP HGK). WSBP's shareholders appointed the firm at the Annual General Meeting of Shareholders for the Fiscal Year 2022. KAP HGK provided an opinion stating that WSBP's 2023 financial statements had been presented fairly in all material respects.