Wijaya Karya

Stock Quote Wijaya Karya - WIKA:

Business Summary

Being a government-controlled company, Wika's primary customer is the government of Indonesia as well as other Indonesian state-owned enterprises (SOE). However, the vast growth of Indonesia’s economy also impacted on growth of the construction industry in the private sector. This growth allowed Wika to expand its target markets from the government and other SOE companies to the private sector.

Moreover, Wika has extended its target market from Indonesia to other developing countries. The company has participated in projects in the Middle East and North Africa (Iraq, Algeria and Libya), as well as several other countries in the Asia Pacific (Timor Leste, Brunei Darussalam and Myanmar).

Wijaya Karya has two core businesses: Construction, which is divided into Civil Construction (roads, bridges, seaports, airports and dams) and Building Construction (residential and commercial housing as well as utility buildings) and Mechanical Electrical, which consists of Energy and Industrial Plants. The Energy segment is focused on Engineering, Procurement and Construction (EPC) and Investment.

New Contracts:

	2011	2012	2013	2014	2015	2016
Infrastructure & Building	6,411.5	8,937.7	9,038.2	9,816.7	19,077.1	39,648.3
Energy & Industrial Plant	4,202.7	4,100.5	4,458.0	3,633.7	1,034.4	7,493.8
Industry	2,140.9	2,623.9	2,991.9	3,187.8	3,734.0	4,278.8
Property & Realty	800.6	1,463.4	1,244.0	1,378.5	1,376.3	3,342.6

^{in billion IDR rupiah
Source: Wijaya Karya, Annual Report 2016}

Wijaya Karya's Financial Highlights:

	2009	2010	2011	2012	2013	2014	2015	2016
Net Sales	6,590.9	6,022.9	7,741.8	9,905.2	11,884.6	12,463.2	13,620.1	15,668.8
Gross Profit	623.1	632.9	763.4	957.8	1,322.4	1,424.6	1,654.7	2,227.1
Net Income	189.2	311.2	390.95	523.3	624.4	743.8	703.0	1,147.1
Operating Income	485.0	477.6	653.7	870.0	1,216.0	1,401.5	1,513.9	2,079.0
Profit before Income Tax	348.1	473.3	629.6	832.7	1,016.7	1,139.2	751.3	1,230.5
Total Assets	5,700.6	6,286.3	8,323.0	11,020.8	12,594.6	15,909.2	19,602.4	31,096.5
Total Liabilities	4,064.9	4,369.5	6,103.6	8,186.5	9,368.0	11,032.5	14,164.3	18,597.8
Earnings per Share¹	33,37	47,47	60,59	77,96	92,84	99,06	101,81	158,64
Cash Dividend per Share¹	–	17,08	17,56	22,32	27,82	20,01	20,35	33,86

^{in billion IDR rupiah unless otherwise stated
¹ in IDR rupiah
Source: Wijaya Karya, Annual Report 2016}

Future Forecast Wijaya Karya's Financial Highlights:

	2018	2019F	2020F	2021F
Net Sales	31,158	35,765	44,777	51,474
EBITDA	3,352	4,930	5,957	6,456
Net Income	1,730	2,258	2,714	3,046
ROAA (%)	3.3	3.7	4.0	3.9
P/E Ratio (x)	4.6	3.5	2.9	2.6
P/BV (x)	0.5	0.5	0.4	0.4

^{in billion IDR rupiah unless otherwise stated
Source: Danareksa Sekuritas (26.03.2020)}