20240429_WIRG_Laporan Informasi dan Fakta Material_31631025_lamp3.pdf

                                        INVESTOR RELEASE
                                          PT WIR ASIA TBK

              1Q 2024 RESULTS SUMMARY

THE COMPANY'S GROWTH PERFORMANCE DURING
THE FIRST QUARTER 2024
PT WIR ASIA Tbk (IDX: “WIRG” or “the Company”), today announced its financial and
operational performance for the accounting first quarter of 2024. The Company reported
a continuous positive revenue growth of IDR 672.6 billion in the first quarter of 2024,
representing a 8.1% increase from the first quarter in 2023. Concurrently, the Company’s
net income also experienced growth, rising by 11.1% compared to the same period in
previous year. This growth is the result of the continuation of the Company's growth
strategy, especially the expansion of digital platform solutions that can assist the
Company's business partners to digitalize and to reach wider and more diverse market
segments..

Throughout the first quarter of 2024, the Company continues to innovate, particularly in
the fields of Augmented Reality and Web 3.0. Innovations include launching Nusa Studio
for creators and school curriculum, and Nagara Blockchain by the Nusameta unit.
Additionally, the Mindstores unit launched Hijrah Groceries, which simplifies shopping
and fulfils daily needs for Muamalat Bank customers. Furthermore, the Company has
maintained ongoing collaborations with educational industry partners throughout the first
quarter of 2024. These include Nusameta's partnership with Binus University to launch
Nusameta Borobudur in promoting digital tourism, Nusameta's collaboration with Santa
Angela School Bandung to introduce Angelaverse, enriching technology-based learning
facilities, Nusameta's support for the Visual Communication Design (DKV) and Interactive
Design (DI) study programs at Bunda Mulia University (UBM) through Metaverse by
implementing Nusa Studio for students, and Nusameta’s collaboration with Sampoerna
University to integrate blockchain-based diploma authentication.




Graph 1(in Billion Rupiah): Financial performance growth for the first quarter of 2023 and 2024.




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OPERATING REVENUES




            Graph 2 (in Billion Rupiah): Revenue composition for the first quarter of 2023 and 2024. 12

    The Company’s has successfully grew its revenue by 8.1% in the first quarter of 2024,
    amounting to IDR 672.6 billion compared to the first quarter of 2023 (Q1- 2023: IDR
    622.3 billion), is primarily attributable to the revenue segment derived from digital
    platform solutions of IDR 631.5 billion throughout the first quarter of 2024, marking a
    7.7% year-on-year increase compared to the first quarter in the previous year (Q1-2023 :
    IDR 586.5 billion). The digital solution platform encompasses revenue streams from the
    sales of goods and transaction commission via interactive platform, as well as revenue
    segment of promotion and advertising via platform that attributes 93.9% from the
    Company’s total revenue throughout the first quarter of 2024. Furthermore, revenue
    contribution from bespoke solutions increased by 14.8% to IDR 41.1 billion compared to
    the previous year’s figure of IDR 35.8 billion.

    The contribution of digital platform solutions, particularly from the increase in revenue
    from sales of goods and commissions via the platform amounting to IDR 576.9 billion
    which grew by 10,8%, compared to the first quarter in previous year. This growth reflects
    the Company's continued efforts in developing the digital platform solution service
    ecosystem




1
 Includes revenue from Software Application Development and Brand & IT Consulting
2
 Includes revenue from Digital Product Sales via Interactive Platform, Goods Sales via Interactive
Platform, and Promotion and Advertising via Interactive Platform

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COST OF REVENUE & GROSS PROFIT
The Company recorded a cost of goods sold amounting to IDR 590.8 billion for the first
quarter of 2024, which increased by 9.2% compared to the first quarter in the previous
year’s figure of IDR 540.8 billion. This increase in cost of goods sold is in line with the
increase in revenue, particularly from the sales of goods and transaction commissions via
the platform segment, which increased by IDR 56.5 billion or 10.8% compared to the first
quarter in the previous year.

At the same time, the Company successfully increased its gross profit by 0.5% to IDR
81.8 billion compared to the previous year and achieved a stable gross profit margin of
12.2%. The Company is optimistic that it can optimize the cost of revenue, leading to
further growth gross profit margin in the future.

OPERATING EXPENSES & OPERATING PROFIT
The Company recorded an operating expense of IDR 39.7 billion in the first quarter of
2024, reflecting a decrease of IDR 0.4 billion or -0.9% compared to the first quarter in the
previous year amounting IDR 40.1 billion. The decrease in operating expenses was
attributable to the efficiency of the Company's general and administrative costs
throughout the first quarter of 2024.

The Company successfully recorded an increase in operating profit by 1.8% to IDR 42.1
billion compared to the first quarter in the previous year’s figure of IDR 41.4 billion. The
Company also successfully maintained a stable operating profit of 6.3% for the first
quarter of 2024.

EBITDA
The Company has been successful in recording consistent positive EBITDA during the first
quarter of 2024 amounting IDR 47.2 billion, marking an increase of 0.4% compared to the
first quarter in 2023 (Q1-2023: IDR 47.1 billion). This positive performance aligns with the
Company's increase in revenue which increased IDR 50,3 billion or 8.1% compared to its
first quarter result in previous year.

This increase is a positive result of the Company's success in carrying out its growth
strategy by prioritizing developing and optimizing business solutions based on immersive
technology, Web 3.0, and Metaverse, especially digital solution platforms that have a high
level of scalability.

NET INCOME
The Company's consolidated net income demonstrated very positive growth, reaching
IDR 28.9 billion in the first quarter of 2024, a year-on-year increase of 11.1% (Q1-2023:
IDR 26.0 billion). This increase in net profit is attributed to the improved operational cost
efficiency and sustained and continuous revenue growth of the company during the first
quarter of 2024 while being consistent in maintaining its profitability.


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REMARK FROM MICHEL BUDI WIRJATMO, PRESIDENT DIRECTOR OF
PT WIR ASIA Tbk

“Throughout the first quarter of 2024, the Company has been successful in maintaining
its consistent growth momentum by recording a revenue of IDR 672.6 billion that
increased by 8.1% compared to its first quarter result in 2023. The increase is also
accompanied by the increase in Operating Income and Net Income with each growing by
1.8% and 11.1% to IDR 42.1 billion and IDR 28.9 billion. Revenue segment from digital
solutions platform is still the main contributor for the increase in the Company’s revenue,
which successfully increased by 7.7% to IDR 631.5 billion. Digital platform solutions
comprises the Company’s business units that own and develop digital platforms based on
immersive technology which have a high scalability and wide application potential to
various industries.



SUMMARY OF FINANCIAL PERFORMANCE




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About WIR GROUP

PT WIR ASIA Tbk (BEI: “WIRG” or “the Company”) is a leading immersive and Web3
technology company based in Southeast Asia. Specializing in Augmented Reality (AR),
Virtual Reality (VR), and Artificial Intelligence (AI), the Company holds five global patents
for AR registered with the Patent Cooperation Treaty (PCT). Leveraging these AR, VR,
and AI features, the Company offers bespoke solution services and digital platform
solutions with Business-to-Business (B2B) and Business-to-Business-to-Consumer
(B2B2C)/Business-to-Consumer (B2C) business models to partners across various
industrial sectors, operating on a Software-as-a-Service (SaaS) basis.

Bespoke solution service is a tailored solution that the Company provides to its
customers/partners according to its needs and requests. Bespoke solution is
characterized as project basis and generated income segments in software application
development and brand & IT consulting. Platform solutions is a digital business solution
for the Company’s partners and customers in order to reach a wider customer base.
Platform solutions is characterized as recurring and generated income segments of sale
of various goods via the platform, the sale of digital products via the platform, transaction
commissions via the platform, as well as promotions and advertising via the platform.

                                          --End—




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