ILLUSTRATION. Workers inspect the framework for spun pile casting in PT Waskita Beton Precast Plant Karawang, West Java, Wednesday (3/8). Karawang Plant with an area of 15 ha, is currently the plant with the highest production capacity of 400,000
Reporter: Aerospace Hikma | Editor: I knew Laoli
KONTAN.CO.ID – JAKARTA. Semester II-2020 will still be a challenge for PT Waskita Beton Precast Tbk (WSBP). This red plate subsidiary is predicted to still face a difficult year. Even though the WSBP’s performance in 2019 yesterday was arguably less smooth.
WSBP recorded an unsatisfactory performance in 2019 after only being able to pocket an income of Rp. 7.64 trillion. The acquisition was recorded down 6.75% compared to the same period in 2018 where WSBP managed to get Rp 8 trillion.
While from net profit, WSBP experienced a significant decline of 26.94% after 2019, which only posted IDR 806 billion. In fact, in 2018 WSBP managed to record a net profit of Rp 1,103 trillion.
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Entering this year, Jasa Utama Capital analyst Chris Apriliony revealed WSBP’s performance was quite shaky, especially in terms of getting a new contract. Meanwhile, according to Kontan.co.id records, WSBP until April has only pocketed new contracts valued at Rp 667.4 billion.
“The corona virus pandemic has hampered WSBP’s performance to get new contracts as many tender processes have been postponed. However, with the start of new normal implementation, there is a possibility WSBP will try to start pursuing new contract targets,” Chris said.
However, Chris considered, with the corona virus pandemic still looming and there were no signs of abating, the WSBP prospect this year still tends to be quite depressed. Because the acquisition of WSBP contracts will tend to be smaller than the previous year.
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“Therefore, a positive catalyst capable of boosting WSBP performance is when the corona virus vaccine for the rest of the year can be finished soon,” continued Chris.
With this condition, Chris still recommends to buy WSBP shares with a target price of Rp 240.
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