In 2020, PT Waskita Beton Precast Tbk (Waskita Beton Precast) successfully booked the company's new contract value of IDR 1.86 trillion.
The acquisition of this new contract was dominated by external projects amounting to Rp. 998.79 billion (54 percent) through the Binjai Pangkalan-Brandan Toll Road Project, Banda Aceh-Sigli, NCICD and other projects. Meanwhile, the acquisition of internal projects is IDR 866.56 billion (46 percent) through the Pasuruan-Probolinggo Toll Road Project, the Prabumulih-Muaraenim Toll Road, the Package 4 Coastal Safety Road Project, and other projects.
President Director of Waskita Beton Precast Moch. Cholis Prihanto stated that management's focus on external markets is in line with management strategies to increase exposure to external customers. This is also reflected in the growth of subscribers which increased by 48.28 percent from 2019 of 87 subscribers to 129 customers. This figure is the highest customer growth rate in the last 5 (five) years.
The new management of the company is committed to making improvements through several work programs that have been designed.
"The new management will make improvements by ensuring the sustainability of the company with an emphasis on restructuring and organizational integration by prioritizing control and delegation of authority (decentralization)," he said, Tuesday (30/3/2021).
In addition, the Company also managed to book operating revenues of Rp 2.21 trillion. This income is somewhat decreasing when compared to the previous year. This is due to the Covid-19 pandemic since the end of 2019 until now which has hampered the acquisition of new projects and projects that are currently being worked on by the Company.
With the Pandemic conditions, the projects that Waskita Beton had acquired were hampered, thus reducing revenue progress in 2020. The remaining contract value at the end of 2020 is IDR 4.11 trillion. This will be the potential for operating income in 2021.
The company's operating cash flow at the end of the year was IDR 561.48 billion or 21.4 times the total operational cash flow in 2019, which was IDR 26.27 billion. This value is supported by the disbursement of terms from customers amounting to Rp 3.33 trillion throughout 2020.
The company management assesses that the implementation of the vaccination program is believed to be a positive catalyst for the performance of the construction sector, including the performance of Waskita Beton Precast, which this year is optimistic that it will be able to record a contract value of Rp 7.88 trillion.
The increase in the Waskita Beton contract target this year is inseparable from the remaining contract value in 2020 of Rp 4.11 trillion, and the target of acquiring new contracts in 2021 which is projected to reach Rp 3.77 trillion.
"The company views that the vaccination program can provide a positive catalyst for the growth of the sector, especially construction in Indonesia. "It is hoped that the economic condition will experience a recovery in the second semester of 2021," said Cholis.
