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, 2018. The Financial Statements was audited by Public Accounting Firm Amir Abadi Jusuf, Aryanto, Mawar & Rekan (member of RSM Network) with opinion fair in all material respects, the financial position of PT Waskita Beton Precast Tbk as of December 31, 2018, 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 2018, the Company managed to increase its assets by 1.99% to Rp15,222.39 billion. Liabilities as of December 31, 2018 was recorded at Rp7,340.08 billion, decrease by 3.58% compared to that of 2017 which was Rp7,602.89 billion. Change in assets and liabilities as of December 31, 2018 caused the equity to increase slightly by 7.18% to Rp7,882.31 billion at the end of 2018 compared to that of Rp7,316.66 billion in 2017.
This was largely due to share buyback that was carried out in 2018 as an effort of the management in increasing the trust of investors for solid fundamental performance in the future.