“The growth we achieved is the result of the hard work of all WSBP people and the implementation of the right strategy in improving operational performance. We continue to focus on developing quality products and services to support infrastructure development in Indonesia,” said Fandy Dewanto, VP of Corporate Secretary.
WSBP also managed to generate positive operating profitability or gross profit this year amounting to Rp369.67 billion with a Gross Profit Margin of 18.75%. This achievement cannot be separated from the company's strategy in optimizing the production process and implementing efficient raw material supply chain management. “The increase in the utility of our Precast Plant is a strong indicator that WSBP's production capacity is increasingly being maximized to meet the surge in demand for national infrastructure projects,” he added.
In line with the company's goal to achieve sustainable growth, WSBP continues to focus on implementing a business transformation program through improving operational efficiency, marketing diversification, and optimizing the use of technology in the production process to support national infrastructure projects.
WSBP's business transformation also includes accelerating the digitization of work processes and strengthening adaptive corporate governance that is oriented towards effective and efficient business processes by maximizing potential in delivering the best results. This step is reflected in the decline in General and Administrative Expenses by 6.44% or Rp32.60 billion compared to the same period last year.
In addition to General and Administrative Expenses, throughout 2024 WSBP managed to increase the utility of its production units, especially its Precast Plant, in line with the increasing demand for WSBP precast concrete products, thus reducing Non Contributing Plant expenses by 21.27% compared to the previous year. “The increase in our plant utilities is a strong indicator that WSBP's production capacity is increasingly maximized to meet the surge in demand for national infrastructure projects,” he added.
Furthermore, in 2024 WSBP recorded total assets of Rp3.62 trillion, liabilities of Rp5.18 trillion, and capital deficiency of Rp1.56 trillion.
For information, WSBP has published its Financial Statements for the fiscal year 2024 audited by Heliantono & Rekan Public Accounting Firm (Parker Russell International). KAP provides an Opinion that WSBP's Financial Statements have been presented fairly in all material respects and in accordance with Indonesian Financial Accounting Standards.
WSBP emphasizes its commitment to run business processes with good corporate governance and measurable risk management. The company always prioritizes transparency, accountability, and compliance with applicable regulations, to ensure that every step taken is based on the principle of prudence and oriented towards long-term sustainability.
Reporter: PR Wire
Editor: PR Wire
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