WSBP's largest revenue came from the Precast business line, which experienced significant growth of 74.4%, contributing Rp588.42 billion in 2024, compared to Rp337.38 billion in 2023. The Precast business line now accounts for 44.1% of WSBP's total operating revenue. Some of the precast projects supplied by WSBP this year are the Jakarta LRT Phase 1B project (Velodrome-Manggarai), the Ciawi-Sukabumi (Bocimi) Toll Road Project Section 3A and 3B, the Serang-Panimbang Toll Road Development Project, and various other projects.
On the other hand, the Readymix business also recorded an increase of 17.0% to Rp539.60 billion, up from Rp461.16 billion in 2023, contributing 40.4% of total revenue. Meanwhile, revenue from Construction Services amounted to Rp206.39 billion in 2024.
“WSBP also managed to maintain a Gross Profit Margin (GPM) of 21.1%, supported by the dominance of Precast product sales which has a higher margin compared to other business lines. This achievement is in accordance with the company's strategy to encourage increased sales of Precast products to strategic infrastructure projects,” said Fandy Dewanto, VP of WSBP's Corporate Secretary Division.
The company's gross profit also recorded a significant increase of 87.1% compared to the same period in 2023, from Rp150.60 billion in 2023 to Rp281.76 billion in 2024. This increase reflects better efficiency in the production process as well as improved quality of service to customers.
Another achievement was the 63.4% decrease in Non-Contributing Plant (NCP) expenses, from Rp274.74 billion in 2023 to Rp100.47 billion in 2024. This decline was due to increased production and optimal utilization of WSBP's production units, while also signifying improved operational efficiency.
WSBP also continues to show commitment in payments to partners. This can be seen from the increase in the value of payments to suppliers by 24.1% or Rp1.49 trillion compared to the same period last year of Rp1.21 trillion. The restructuring commitment that continues to run smoothly is also reflected in the payment of obligations to creditors through the CFADS scheme which has reached the fourth stage with a total of Rp320.85 billion.
In addition to the outstanding revenue achievement, WSBP also recorded a New Contract Value (NKB) of Rp1.73 trillion by the end of September 2024, or around 75% of the annual target of Rp2.3 trillion.
“The performance achievement in Q3/2024 has been in line with the company's business transformation program. The company is operationally healthier with growth in New Contract Value and Operating Income. Going forward, we will continue to focus on continuous product and service innovation to meet market needs,” added Fandy Dewanto.
With strong achievements in various business lines and effective cost management, as well as the implementation of Good Corporate Governance and risk management, WSBP is optimistic that it can meet its annual targets in 2024 and continue to contribute to national infrastructure
development.Reporter: PR Wire
Editor: PR Wire
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