Description on financial performance is prepared based on Financial Statements that was presented in accordance with the prevailing Financial Accounting Standards (PSAK) for the year ended on December 31, 2017. The Financial Statements was audited by Public Accounting Firm Satrio Bing Eny & Partner (member of Touche Tohmatsu Limited) with opinion fair in all material respects, the financial position of PT Waskita Beton Precast Tbk as of December 31, 2017, and its financial performance and its cash flows for the year then ended, in accordance with Indonesian Financial Accounting Standard
Discussion on the Company’s financial performance is done by taking into account the notes to Financial Statements from external auditor as an integral part of this Annual Report.
Statements of Financial Position
As of the end of 2017, the Company managed to increase its assets by 8.63% to Rp14,919.55 billion. Liabilities as of December 31, 2017 was recorded at Rp7,602.89 billion, increased by 20.13% compared to that of 2016 which was Rp6,328.77 billion. Change in assets and liabilities as of December 31, 2017 caused the equity to decrease slightly by 1.20% to Rp7,316.66 billion at the end of 2017 compared to that of Rp7,405.50 billion in 2016.
This was largely due to share buyback that was carried out in 2017 as an effort of the management in increasing the trust of investors for solid fundamental performance in the future.