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20230814_WIRG_Laporan Informasi dan Fakta Material_31371167_lamp3.pdf
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Investor Release H1-2023 14 of August 2023 th PT WIR ASIA TBK
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INVESTOR RELEASE
PT WIR ASIA TBK
FIRST SEMESTER 2023
RESULTS SUMMARY
SUSTAINABLE GROWTH DURING THE FIRST
SEMESTER 2023
PT WIR Asia Tbk (IDX: “WIRG” or “the Company”), Southeast Asia's leading digital platform
ecosystem developer based on immersive technology as well as Web 3.0 and metaverse
featuring Augmented Reality (AR), Virtual Reality (VR), and Artificial Intelligence (AI) that
implements both Business-to-Business (B2B) and Business-to-Business-to-Consumer
(B2B2C) / Business-to-Consumer (B2C) business models, announced consolidated
revenue of IDR1,249.0 billion increased by 91.9% year-on-year (H1 2022: IDR650.7
billion). The Company also recorded EBITDA and Net Profit amounting IDR71.4 billion and
IDR34.7 billion, respectively which increased by 88.3% (H1 2022: IDR37.9 billion) and
33.3% (H1 2022: IDR26.0 billion), respectively year-on-year.
The Company's achievement in the first semester of 2023 represents the realisation of the
Company's recurring revenue expansion through its B2B2C/B2C business models that
generated operating revenue segments from goods sales and transaction commissions via
platforms, as well as promotions and advertisements on the platforms, amounting
IDR1,156.3 billion, an increase of 101.5% year-on-year (H1 2022: IDR573.9 billion).
Graph 1(in Billion Rupiah): Growth highlights for the first semester of 2022 and 2023.
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OPERATING REVENUES
Graph 2 (in Billion Rupiah): Revenue composition for the first semester of 2022 and 2023.
The Company recorded consolidated revenue of IDR1,249.0 billion for the first semester of
2023, which grew significantly by 91.9% year-on-year (H1 2022: 650.7 billion).
Throughout the first semester of 2023, the Company managed to maintain and improve its
performance through the growth of its consolidated revenue from the goods sales and
transaction commission via platform, as well as promotion and advertising via platform
segments which have grown by IDR530.4 billion and ID52.0 billion, respectively, or 101.3%
and 102.9% compared to the first semester of 2022. Moreover, the project-based revenue
segment originating from consulting services and software development also grew steadily
by IDR15.9 billion or 20.8% year-on-year.
The Company’s revenue growth indicates successful development of digital ecosystem
platforms which have high scalability through its B2B2C/B2C model offered by DAV,
Mindstores, and Minar. This growth was also supported by the Company’s consistent
implementation of digitalization, creativity, interactivity, and immersiveness on each of its
solutions that are able to assist clients and partners in providing solutions to improve their
business performance.
COST OF REVENUE
The Company’s cost of revenue for the first semester of 2023 amounted to IDR1,097.0
billion, which increased by 89.5% year-on-year (H1 2022: IDR578.8 billion). The increase
in cost of revenue is in line with the increase in revenue during the first semester of 2023,
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especially the cost of revenue directly related to goods sales and transaction commissions
via platform which increased by IDR518.6 billion or 101.3%.
The Company has successfully increased its gross profit margin for the first semester of
2023 to 12.2%, compared to the margin of 11.0% in the previous year. This increase
demonstrates the Company's success in optimizing its resources through more effective
project management applications and boosting revenue sources with higher margins, such
as the use of the Company's solution platform for advertising and promotions. As a result,
the Company achieved a much higher increase in revenue (91.9%) compared to the
increase in cost of revenue (89.5%) for the first semester of 2023.
OPERATING EXPENSES
The Company's operating expenses for the first semester of 2023 increased by 102.6%
year-on-year, amounting to IDR82.8 billion(H1 2022: IDR40.9 billion). The increase in
operating expenses was mainly attributed to the increase in employee salaries, which has
increased in line with the addition of employees to support the Company's business growth.
The Company has successfully increased the operating profit margin from 4.8% to 5.5%
for the first semester of 2023, which demonstrates the Company's success in optimizing
and managing its resources to carry out the Company's operational activities that is in line
with the management's focus to increase its profitability.
EBITDA
The Company has successfully recorded an EBITDA of IDR71.4 billion, which significantly
increased by 88.3% year-on-year (H1 2022: IDR37.9 billion), in line with the consolidated
revenue growth of the Company amounting to IDR598.3 billion or 91.9% year-on-year. The
increase is attributed to the Company's strategy implementation in developing and optimizing
its immersive technology-based business solutions, as well as its Web 3.0 and metaverse
feature with Augmented Reality (AR), Virtual Reality (VR), and Artificial Intelligence (AI).
NET INCOME
The Company’s consolidated net profit achieved a very positive growth to become IDR34.7
billion, which grew by 33.3% year-on-year (H1 2022: IDR26.0 billion). The increase was
due to the Company’s continuous and sustainable consolidated revenue growth during the
first semester of 2023 with focus on maintaining profitability.
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REMARK FROM MICHEL BUDI WIRJATMO, PRESIDENT DIRECTOR OF
PT WIR ASIA Tbk
“Throughout the first semester of 2023, the Company has performed well in its business
operations, generating revenue of IDR1,249.0 billion, which grew by 91.9% year-on-year.
The Company has consistently recorded positive EBITDA and net profit of IDR71.4 billion
and IDR34.7 billion respectively, which also grew by 88.3% and 33.3% year-on-year. The
Company is optimistic that its digital ecosystem platforms based on immersive technology
as well as Web 3.0 and metaverse featuring Augmented Reality (AR), Virtual Reality (VR),
and Artificial Intelligence (AI), will continue to grow and become a viable technological
solution for the Company's clients and partners by consistently prioritizing digitalization,
creativity, interactivity, and immersiveness.”
SUMMARY OF FINANCIAL PERFORMANCE
6 (Six) month period ended 30 September
Description 2023 2022
Revenue 1,249,032,718,587 650,708,574,918
Gross Profit 152,041,625,753 71,902,299,436
Operating Income 69,233,800,963 31,025,821,387
Net Income for the Year 34,659,726,214 26,002,229,953
Net Income for the Year attributable to:
Owners of Parent Entity 32,334,431,026 23,608,915,597
Non-Controlling Interest 2,325,295,188 2,393,314,356
Total Comprehensive Income 32,522,127,211 25,922,280,230
Description As of 30 June 2023 As of 31 December 2022
¹Net Working Capital 278,561,546,083 321,511,860,367
Total Assets 1,003,288,797,863 885,150,718,224
Total Liabilities 334,235,389,326 258,704,232,346
Total Equity 669,053,408,537 626,446,485,878
¹Net Working Capital = Total Current Assets - Total Current Liabilities
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