JAKARTA – PT Wika Gedung Tbk (WEGE) recorded revenue of IDR 1.18 trillion at the end of the first half of 2022, slipping off from IDR 1.35 trillion recorded in the same period in 2021. This condition is considered an anomaly amidst the recovering office and building construction sector after the COVID-19 crises subsides.
In the Financial Statement of H1 2022 published Tuesday (30/8), Hadian Pramudita, President Director of Wika Gedung, revealed that the construction service segment brought in IDR 1.06 trillion to the total revenue, slipping off from IDR 1.32 trillion. The property segment’s revenue was also down from IDR 4.62 billion to IDR 4.02 billion. On the contrary, the concession revenue almost doubled from IDR 10.35 billion in H1 2021 to IDR 20.57 billion in H1 2022, while the industrial segment’s revenue massively proliferated from IDR 14.65 billion to IDR 97.47 billion.
WEGE’s biggest contributor to the revenue is the third parties, soaring from IDR 854.06 billion in H1 2021 to IDR 874.18 billion in H1 2022. Furthermore, it was mentioned that the private corporates dominated the projects, and thus the revenue, secured by the company.
Its gross profit slightly shrank from IDR 120.13 billion in H1 2021 to IDR 111.27 billion in H1 2022. The profit before tax also slipped even further from IDR 101.28 billion to IDR 66.29 billion, as did its current year’s profit from IDR 101.22 billion to IDR 66.29 billion. (LK/ZH)