PT WIJAYA KARYA (Persero) Tbk. [WIKA] booked a net profit of Rp322.34 billion on the back of Rp16.54 trillion in sales in the financial year ended on 31 December 2020. The achievements marked WIKA’s success to exceed its revised targets due to the COVID-19 Pandemic by 54.81%.
The largest contributor to sales was the infrastructure and building sector, followed consecutively by manufacturing industry, energy and industrial plants, and property sector.
Despite the COVID-19 Pandemic, the Company’s financial position remains healthy, as reflected by the positive cash flows provided by operating activities amounting to Rp141.28 billion.
WIKA’s President Director, Agung Budi Waskito (Agung BW) viewed the Company’s ability to perform beyond expectations as the result of adaptability and innovation culture that have been long ingrained in the Company as well as due to various measures to create efficiencies.
“We want to ensure that WIKA remains healthy, where we implemented adaptive and resilient business processes to weather the pandemic. As a contractor, WIKA establishes active communications and strives to align its interests with the interests of project owners. As a result, project schedules and progress remained on track and cost overruns were minimised,” said Agung BW.
Various efficiency measures were also adopted by reducing business and operating costs. These measures were taken to ensure that no employees were terminated, among other objectives.
“We believe that human capital is the core driver of WIKA’s business operations, which will get the company ready to return to its growth path once the situation improves,” said Agung BW.
In 2021, WIKA aims to secure Rp40.12 trillion in new contracts with the target of securing Rp115.02 worth of contracts in its order book.
“These projects will be the objects for production for several years going forward. WIKA, therefore, will continue to grow at current capacity. We believe that by adopting COVID-19 health protocols and healthy habits, we can achieve our targets and accomplish higher achievements,” concluded Agung BW.