WSBP Net Cash Positive, Customer Revenue to Grow 19.62% Through 2024

This achievement was the result of careful and selective management efforts in participating in project tenders. WSBP implemented a series of strategic measures such as identifying potential project risks, evaluating customer credibility, ensuring adequate funding, and establishing a dedicated team for receivables collection. These efforts help the company be more precise in selecting projects and contribute to overall financial stability.

“Our strategy focuses on sustainability and risk mitigation from the start of the tender process. By selectively choosing projects that are financially and operationally sound, we are able to maintain positive cash flow and build stronger business fundamentals,” said Fandy Dewanto, VP of Corporate Secretary.

The net cash obtained was then used optimally to support working capital needs and fulfill payment obligations to creditors, especially in the context of completing the Cash Flow Available for Debt Service (CFADS) stages 3, 4, and 5. This step also demonstrates WSBP's commitment in maintaining financial integrity and enhancing stakeholders' trust.

Throughout 2024, WSBP managed to record a New Contract Value (NKB) of IDR2.37 trillion from various business lines. Precast line contributed IDR860.85 billion, followed by Readymix & Quarry line of IDR913.16 billion, Construction & Installation Services of IDR574.5 billion, and Equipment Rental line of IDR20.23 billion. These new contracts were obtained from both external and internal sources, with external contributions amounting to 62.65% and internal (from Waskita Group) amounting to 37.35%. This achievement shows that WSBP is now increasingly trusted by the market outside Waskita Group, which is reflected in the dominance of external contract value in the acquisition of NKB in 2024.

WSBP's success in achieving higher external contracts than internal contracts is a positive indicator of the company's increasing competitiveness in the construction and infrastructure industry. This proves that WSBP is not only able to maintain the trust of Waskita Group as the parent company, but also successfully expand its customer portfolio in the external market. The dominance of external contract value reflects WSBP's increasingly strong position as a trusted strategic partner for various national and private projects, both for precast, readymix, and construction services.

Some of the projects outside the Waskita Group that were obtained were the Palembang-Betung Toll Road Project Section 3 Pangkalan Balai Betung owned by PT Hutama Karya, the Palembang Junction Section Construction Project on the Trans Sumatra Toll Road Indralaya - Muara Enim Simpang Section owned by PT Hakaaston, NCICD Phase A Coast Guard Construction Project Location 1 Package 2 owned by PT Trico Wana, Nusantara International Convention and Exhibition District 18 PIK 2 Project owned by PT Industri Pameran Nusantara, Sumbawa LNG/Liquefied Natural Gas Terminal and Regasification Project owned by PT JGC Indonesia, and various other projects.

“The confidence of the external market is a positive signal for WSBP's business sustainability. This shows that our selective strategy is not only effective, but also strengthens WSBP's position as a reliable and credible construction partner,” he added.