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Early Semester II, WSBP Optimistic Realize Target in 2017

Jakarta, August 23rd 2017 - PT Waskita Beton Precast Tbk (WSBP) posted revenue of Rp3,35 Tn during January - July 2017 (7M2017), graduates 61% over the same period last year. Earnings revenue 7M2017 has reached 43% of target FY2017. As for the net profit 7M2017 has realized Rp575 Bn or grew 60% YoY. If it refers to the company's net profit target for FY2017 of Rp1,1 Tn, the yield has already realized 52.3%.

Per 7M2017, WSBP has received funding of Rp 4,59 Tn from several BUMN/BUMD including BNI, BRI, and Bank DKI; as well as private banks such as ICBC, CIMB, Bank of Tokyo Mitsubishi, etc. The funding will be used as working capital for a several projects such Krian - Legundi - Bunder - Manyar Toll Project, Cimanggis Cibitung Toll Project, Jakarta - Cikampek II Elevated Toll Road Project, Pematang Panggang - Kayu Agung, Batang - Semarang, Kayu Agung - Palembang - Betung , Terbanggi Besar – Kayu Agung, etc.

Jarot Subana, President Director of WSBP historically explains that the revenue and net profit in the second semester will always be greater than the first semester following trending in this industry. "In July, our earnings and profits were very good. This is what makes us optimist to realizing our target in 2017,” Jarot said.

The Company has booked New Contract Value up to 7M2017 valued at Rp 6.4 Tn and targets the acquisition of new contracts in 2017 amounting to Rp12,3 Tn. These New Contract Value are from toll road projects, projects from private companies, and non-toll BUMN projects.

The acquisition of WSBP contracts in 2017 is dominated by toll road projects such as Jakarta-Cikampek II (Elevated) toll road project, Bogor-Ciawi-Sukabumi (Bocimi), Depok-Antasari 2, Gempol-Porong phase 2, Pematang Panggang - Kayu Agung, Krian - Legundi - Bunder, Batang - Semarang, Kayu Agung - Palembang - Betung, etc. Selaintol. The other infrastructure projects undertaken such as LRT Palembang, Soekarno Hatta Airport railway line, Garden City Housing, Jakabaring Lake City Development Day 2, Nagrak Flat, Transmart Cibubur etc.

Currently, the Company is in the stage of its buyback which has been listing after obtaining stakeholder approval according to the Extraordinary General Shareholders Meeting (EGSM) dated July 26th, 2017. The buyback will be executed for 18 months after the EGSM dated July 27th 2017 until January 27th , 2019 as much as possible 7% of the issued and paid up capital of the company is Rp1 Tn. The buyback stock price is determined based on the provisions in BAPEPAM Regulation No.XI.B.2

About PT Waskita Beton Precast (WSBP)

PT Waskita Beton Precast Tbk (WSBP) is officially established as a subsidiary of PT Waskita Karya Tbk (WSKT) on October 7th, 2014. WSBP is a precast and ready mixed concrete production company with the largest current production capacity in Indonesia. The Company listed its first shares on the Indonesia Stock Exchange on September 20th, 2016 at the initial price. WSBP at the end of 2016 has 10 Precast Plant, 41 Batching Plant and 3 Quarry spread over Java and Sumatera.

The company is currently expanding to increase its production capacity by adding one new Precast Factory (Plant) in Legundi with a capacity of 275.000 tons / year, and 2 Quarry (Stone Crusher) in Pekalongan and Bojonegara. Until the end of 2017, the company plans to increase production through the addition of 42 new Batching Plants deploy around the project site. Thus, by the end of 2017 WSBP has 11 Precast plants, 83 Batching Plants, and 5 Quarry.

Source: President Director PT Waskita Beton Precast Tbk

Press Release EGSM & Performance 1H2017: Rp 1 TN Buyback Fund Revenue 1 H 2017 grew 43%, Net Profit Grew 28%

July 26th, 2017 - PT Waskita Beton Precast Tbk (WSBP), Indonesia's largest concrete precast company conducts Extraordinary General Shareholders Meeting (EGSM) at Waskita Karya Lt. Building. 11, Ruang Serba Guna on Wednesday (26/07). The EGMS shall approve the buyback of up to 7% of the issued and paid up capital of the Company or maximum of 1.845.281.027 shares with a maximum amount of Rp 1 Tn. 

WSBP's President Director Jarot Subana clarified that program's objective to maximize shareholder value. Now, WSBP's stock price which is below the IPO price does not reflect the company's fundamental condition and the prospect of precast concrete industry in the country. "In 2016, revenue grew 78% and net profit grew 90% compared to 2015. And this year, we are targeting revenue to grow 63% and net profit to grow 85%. The achievement and high growth target is our belief in buyback,"Jarot Said.

Related to buyback funding, WSBP Finance Director Budi Setyono explained that funding will be taken from internal cash. “In this semester, we are scheduling cash receipts from disbursements of substantial receivables of Rp1,4 Tn, certainly more than enough for the needs of buyback funds, so as not to disrupt the expansion and working capital of the Company," he affirmed.

This buyback is planned to be executed for 18 months, after the approval of the EGMS, on July 27th , 2017 until January 27th , 2019. The share price of Buyback itself will be determined based on the provisions set forth in BAPEPAM Regulation No.XI.B.2.

1st Semester Performance 2017 (1H2017)

WSBP revenue during the first half of 2017 (1H2017) increased 42,8% to Rp 2,67 Tn compared to the same period last year of Rp1,87 trillion. The revenues consisted of sales of precast Rp 1,15 Tn, sales of readymix of Rp 652 Bn and construction services of Rp 859 Bn.

The company in 1H2017 was able to generate EBIT of Rp 689 Bn, an increase of 29,3% over the same period last year. As for bottom line, WSBP net profit in 1H2017 increased 28% to Rp 436,4 Bn compared to 1H2016 of Rp 341 Bn. 

In Rp (Million)

1H2017

1H2016

Revenue

  2,668,386

  1,869,221

Gross Profit

680,575

569,034

Net Profit

436,457

341,027

EBITDA

1,026,531

591,249

 

   

Gross Margin

25.51%

30.44%

EBITDA Margin

38.47%

31.63%

Net Margin

16.36%

18.24%

 

Contract Acquisition of the Company

From the acquisition of the contract, WSBP in 1H2017 has secured a new contract of Rp5,57 Tn up 34% compared to the acquisition of a new contract in 1H2016. With the acquisition of the new contract, the WSBP orderbook total realized Rp15,75 Tn (carry over 2016 of Rp10,2 Tn). In the second half of 2017, WSBP is targeting additional new contracts of Rp6,7 Tn so that orderbook total in 2017 can realized Rp22,5 trillion.

The acquisition of WSBP contract in 2017 is still dominated by toll road projects such as Jakarta-Cikampek II (Elevated) toll road project, Bogor-Ciawi-Sukabumi (Bocimi), Depok-Antasari 2, Gempol-Porong Package 2, etc. Other infrastructure projects include the Palembang LRT project, the Soekarno Hatta Airport railway line, Garden City Housing, Jakabaring Lake City 2, Nagrak, Transmart Cibubur etc.

Jarot Subana, President Director of WSBP is optimistic that the target of acquisition of new contracts can be achieved, as well as for revenue target and net profit of 2017. "As of first semester, the realization of new contracts has reached 45,3% of the year-end target, while realization of revenues and net profit -has already realized 34,5% and 38,6%. We are very optimistic, "Jarot asserted.

About PT Waskita Beton Precast (WSBP)

PT Waskita Beton Precast Tbk (WSBP) is officially established as a subsidiary of PT Waskita Karya Tbk (WSKT) on October 7th, 2014. WSBP is a precast and ready mixed concrete production company with the largest current production capacity in Indonesia. The Company listed its first shares on the Indonesia Stock Exchange on September 20th, 2016 at the initial price. WSBP at the end of 2016 has 10 Precast Plant, 41 Batching Plant and 3 Quarry spread over Java and Sumatera.

The company is currently expanding to increase its production capacity, which is by adding one new Precast Factory in Legundi with a capacity of 275.000 tons / year, and 2 Quarry in Pekalongan and Bojonegara. Until the end of 2017, the company plans to increase production through the addition of 42 new Batching Plants deploy around the project site. Thus, by the end of 2017 WSBP has 11 Precast plants, 83 Batching Plants, and 5 Quarry.

 

Ratna Ningrum

Corporate Secretary

PT Waskita Beton Precast, Tbk 

WSBP Received Credit Facility from BRI Syariah and Bank DKI

June 20th 2017.  PT Waskita Beton Precast Tbk (WSBP) continues to strengthen its working capital with funding through bank loans. The Company has signed a credit facility from PT Bank DKI on Thursday (15/06) and from PT Bank BRI Syariah on Friday (16/06). The Company obtained a loan of Rp 500 Bn from Bank DKI which will be used to finance the procurement project of readymix and precast for Jakarta - Cikampek (Japek) Toll Section 2 Elevated.

Furthermore, the company also received a Working Capital Credit Facility (Musyarakah Line Facility) from Bank BRI Syariah amounting to Rp 300 Bn from the initial plafon of Rp 300 Bn, resulting plafon of Rp 600 Bn. Credit facility from Bank BRI Syariah is planned to finance part of procurement project of precast materials and readymix concrete for Cimanggis Development - Cibitung Toll Ways (CCTW) Section 2 targeted for completion in 2019.

WSBP Finance and Risk Director, MC Budi Setyono explained that the additional credit facility from Bank BRI Syariah will be used to finance the procurement project of precast and readymix concrete materials for Cimanggis - Cibitung Toll Ways (CCTW) development in Section 2, which has contract value of  Rp 2,2 Tn . The CCTW Toll is targeted for completion in 2019. "The credit facility received by the Company from BRI Syariah was previously used to finance Light Rail Transit / LRT Palembang project and PCI Girder procurement," Budi explained.

After IPO on September 2016, which provided additional equity of Rp 5,1 Tn, WSBP optimized bank loans to strengthen its funding structure. This year, WSBP targets an orderbook of Rp 22,5 Tn, which consists of carry over in 2016 of Rp 10,2 Tn and a new contract target of 2017 of Rp 12,3 trillion.

 

Ratna Ningrum

Corporate Secretary

PT Waskita Beton Precast, Tbk 

WSBP Obtained Rp 300 Million Credit Facility from BRI Syariah

Jakarta, May 29th 2017. PT Waskita Beton Precast Tbk (WSBP) signed a credit facility from PT Bank BRI Syariah on Monday (29/05). The Company obtained a loan of Rp 300 Bn to finance the Cimanggis-Cibitung Toll Ways (CCTW) project of Section 2, which has a contract value of Rp 2,2 Tn. This agreement is an addendum or extension of the terms of the previous agreement with the same amount already settled in mid-May 2017.

The previously, the company has received credit facilities were used to finance the Palembang Light Rail Transit / LRT project and procurement of PCI Grider. This credit facility is a Working Capital or Musyarakah Contract with a tenor of 15 months since the agreement is signed.

CCTW project has a length of 26,3 km with the current progress is 20,1%. The CCTW will connect with the Jagorawi Toll, Cinere-Jagorawi Toll (construction phase), Jakarta Cikampek Toll and Cibitung-Cilincing Toll. The CCTW project, which was rebuilt in October 2015, is targeted for completion in 2019.

Ratna Ningrum

Corporate Secretary

PT Waskita Beton Precast, Tbk 

Indonesia’s Minister of Transportation Review the LRT Palembang Project Progress, Will Operate On June 2018

Jakarta, May 23th, 2017.  On Saturday, May 23th, 2017, the prestigious project by PT Waskita Karya (Persero) (WSKT) Tbk as main contractor and PT Waskita Beton Precast Tbk (WSBP) as the readymix and girder supplier for LRT Palembang project had visited by special guests from Minister of Transportation Indonesia, Budi Karya. The arrival of Budi Karya to ensure the preparation of LRT Palembang to support the 2018 Asian Games in Palembang.

The contract value of LRT Palembang related with readymix and grider supplied by WSBP has addendum of additional contract value from Rp 963 Bn to around Rp 1,2 Tn. As of March 2017, the progress of LRT Palembang related to readymix and grider supplied by WSBP has reached 68% or equivalent to Rp 826 Bn from total contract of around Rp 1,2 Tn. LRT Palembang expected to be completed faster than the initial target, which is 100% in December 2017 for the LRT line and start the operations in June 2018.

Ratna Ningrum

Corporate Secretary

PT Waskita Beton Precast, Tbk 

Q1 of 2017, WSBP Contract Realization Realized 35%

5 April 2017. During periof of January – March 2017, PT Waskita Beton Precast Tbk (WSBP) get a new contract Rp 4.4 Tn. This achievement equivalent to 35% of the new contract target in 2017 is Rp 12,3 Tn. Throughout March 2017, WSBP's new contracts increased with the inclusion of several projects such Jakarta Garden City, Jakarta - Cikampek Toll Road Project and Betung Ship Project. The acquisition of new contracts in the Q1 of 2017 Rp 4,4 Tn increased to 6,5 times from the acquisition of new contracts in the Q1 of 2016 amounting to Rp 677,5 Bn.

President Director of PT Waskita Beton Precast Tbk, Jarot Subana, said the massive government infrastructure project is not only a blessing for construction companies, but also for WSBP which is the largest precast producer in the country. He explains, WSBP products currently supply many needs of road infrastructure development, especially from toll road projects.

"The demand for precast and readymix in the post-Jokowi road infrastructure project were significantly increased. In 2016, we managed to get a new contract Rp 12, 2 Tn. During the first three months of 2017, we obtained new contracts worth Rp 4,4 Tn or 35% of the new contract target of Rp 12,3 Tn. For the incoming year, new contracts will remain high", Jarot said.

This year, WSBP once again increased the production capacity by 600.000 tons to 3,25 million tons. WSBP will add 2 precast plants in Kalimantan and Sumatra with each capacity of 300.000 tons. In 2016, WSBP also expanded its production capacity to 2,65 million tons from 1,8 million tons in 2015.

In the framework of strengthening working capital, in the last week of March 2017, the company obtained an additional working capital loan from PT Bank ICBC of Rp 300 Bn to Rp 700 Bn. Finance Director, Budi Setyono said that after the IPO, company will increase the portion of bank loans to strengthen working capital, especially to accommodate the entry of turnkey projects that have a premium margin.

"Currently our debt to equity is 0,45 times with the amount of equity Rp 7,4 Tn. It’s mean, we still have a large space for bank loans. The IPO fund is still remaining Rp 3,7 Tn and this year we are targeting the acceptance of Becakayu turnkey project is Rp 3 Tn. We are very ready, "Budi said.

With a new 2017 contract target of Rp12,3 Tn added with a carry over of 2016 of Rp 10 Tn, the company has a total order book of Rp 22 Tn. For financial performance, in 2017, WSBP is targeting Rp 7,75 Tn revenue, or 64% growth (YoY) and net profit target of Rp 1,13 Tn, or 78% growth (YoY).

Ratna Ningrum

Corporate Secretary

PT Waskita Beton Precast, Tbk