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Industrial Services

PT Wijaya Karya Tbk

Company Background

State-owned Wijaya Karya is Indonesia's largest construction company. Its business includes construction of buildings, bridges and toll roads. The company also operates units involved in power plant engineering, real estate and mining.

In late October, former chairman Basuki Hadimuljono was appointed as a member of Indonesian President Joko Widodo's cabinet. Hadimuljono, who became chairman in 2012, now serves as the government's public works and public housing minister. Bintang Perbowo has been Wijaya Karya's president since 2008 and previously served as the company's finance director.

Wijaya Karya was established in 1960 as an electrical and water pipe installation company. It went public in 2007. Indonesia's government owns about 65% of its shares.

In April 2014, Wijaya Karya listed shares of its precast concrete subsidiary, Wijaya Karya Beton, which became one of the country's largest IPOs of the year. Part of the proceeds was used to acquire a local concrete producer.

Business Summary

PT Wijaya Karya Tbk is a holding company, which engages in the provision of construction, engineering, mining, and other related services. It operates through the following segments: Infrastructure and Building; Energy and Industrial Plant; Industry; and Realty and Property. The Infrastructure and Building segment consists of civil construction services such as general construction and infrastructure, roads, bridges, harbours, airports, dams, irrigations, and buildings. The Energy and Industrial Plant segment include energy and engineering, procurement and construction, field operations, and maintenance services of power plants. The Industry segment focuses on concrete precast such as piles, girder, rail pad, steel construction, automotive spare parts, energy conversion product, and mining industry. The Realty and Property segment comprises landed housing and high risk buildings such as apartment and condotel management. The company was founded on March 11, 1960 and is headquartered in Jakarta, Indonesia.

Financial Highlights

Dec 2018 IDRUSD
Revenue31,158.19B2,188.57M
Gross Profit3,604.72B253.19M
Operating income1,985.55B139.46M
Income before tax2,358.62B165.67M
Net income1,730.25B121.53M
EBITDA2,277.26B159.95M
Diluted EPS193.020.01
Dividends Per Share38.600.00
Total Assets59,230.00B4,118.91M
Total liabilities42,014.68B2,921.74M
Total equity14,803.61B1,029.45M
Operating cash flow2,722.53B191.23M
Currency in IDRCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 12,463.21B 13,620.10B 15,668.83B 26,176.40B 31,158.19B
Gross Profit 1,424.56B 1,654.66B 2,191.94B 2,876.23B 3,604.72B
Operating income 985,477.07M 1,195.00B 1,253.69B 1,463.18B 1,985.55B
Income before tax 1,139.18B 1,098.08B 1,295.23B 1,462.39B 2,358.62B
Net income 608,154.69M 625,043.90M 1,058.93B 1,202.06B 1,730.25B
EBITDA 1,180.02B 1,473.15B 1,537.17B 2,009.77B 2,277.26B
Diluted EPS 91.73 94.28 118.13 134.10 193.02
Dividends Per Share 18.54 18.84 33.86 26.82 38.60
Total Assets 15,909.21B 19,602.40B 31,355.20B 45,683.77B 59,230.00B
Total liabilities 11,032.46B 14,164.30B 18,617.21B 31,051.94B 42,014.68B
Total equity 3,887.58B 4,375.16B 11,444.86B 12,633.51B 14,803.61B
Operating cash flow -177,690.76M 238,405.38M -1,113.34B 1,885.25B 2,722.53B
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 1,050.52M 1,016.63M 1,178.07M 1,956.12M 2,188.57M
Gross Profit 120.07M 123.50M 164.80M 214.93M 253.19M
Operating income 83.06M 89.19M 94.25M 109.34M 139.46M
Income before tax 96.02M 81.96M 97.38M 109.28M 165.67M
Net income 51.26M 46.65M 79.61M 89.82M 121.53M
EBITDA 99.46M 109.95M 115.57M 150.18M 159.95M
Diluted EPS 0.00 0.00 0.00 0.01 0.01
Dividends Per Share 0.00 0.00 0.00 0.00 0.00
Total Assets 1,284.55M 1,422.00M 2,327.34M 3,367.14M 4,118.91M
Total liabilities 890.79M 1,027.51M 1,381.86M 2,288.70M 2,921.74M
Total equity 313.89M 317.38M 849.49M 931.16M 1,029.45M
Operating cash flow -14.97M 17.79M -83.70M 140.88M 191.23M

Valuation Measures

Dec 2018
PER8.57
ROA3.29%
ROE12.61%
Operating margin6.37%
Profit margin5.55%

Key executives

  • President Director: Tumiyana
  • Director-Operation II: Bambang Pramujo
  • Director-Operation III: Destiawan Soewardjono
  • Director-Operation I: Agung Budi Waskito
  • Finance Director: Ade Wahyu

Shareholders

  • Government of Indonesia (65.0%)
  • Dimensional Fund Advisors LP (1.3%)
  • The Vanguard Group, Inc. (1.1%)
  • BlackRock Fund Advisors (0.5%)
  • Victory Capital Management, Inc. (Investment Management) (0.4%)
  • PT Batavia Prosperindo Aset Manajemen (0.3%)
  • PT Indo Premier Securities (Investment Management) (0.3%)
  • Teachers Advisors LLC (0.2%)
  • DNB Investment Advisory Services (India) Private Ltd. (0.1%)
  • Nordea Investment Funds SA (0.1%)

Contact Details

  • Website:http://www.wika.co.id
  • Address: WIKA Tower 1 & 2, Jalan D.I. Panjaitan Kav. 9 - 10, Jakarta, 13340, Indonesia
  • Phone: +62.21.806 79200

Related Companies

  • PT Wijaya Karya Serang Panimbang
  • PT Wijaya Karya Bangunan Gedung Tbk
  • PT Citra Lautan Teduh
  • PT Wijaya Karya Rekayasa Konstruksi
  • PT Wijaya Karya Beton Tbk
  • PT Wijaya Karya Realty
  • PT Wika-NGK Insulators
  • PT Wijaya Tama Perkasa
  • PT Wijaya Karya Industri & Konstruksi
  • PT Wijaya Karya Bitumen

Competitors

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