20240328_WIRG_Laporan Informasi dan Fakta Material_31620618_lamp3.pdf

                                       INVESTOR RELEASE
                                          PT WIR ASIA TBK

                   RESULTS SUMMARY FOR
                    THE FULL YEAR OF 2023

THE COMPANY'S PERFORMANCE GROWTH DURING
THE FULL YEAR OF 2023
PT WIR ASIA Tbk(IDX: “WIRG” or “the Company”), today announced its financial and
operational performance for the accounting period of 2023. The Company reported a
continuous positive revenue growth of IDR 2,491.6 billion in 2023, representing a 47.0%
increase from the year 2022. Concurrently, the Company’s EBITDA and net income for
the year 2023 also experienced growth, each amounting to IDR 141,6 billion and IDR
68,5 billion, rising by 57.4% and 42.4% respectively compared to the previous year. This
growth was driven by the innovation and expansion of the digital solutions platform, a
strategy that the Company has been and will continue to pursue in order to reach a wider
and more diverse target market.

Throughout 2023, the Company consistently engages in the innovation of immersive
technology and Web 3.0, this included the launch of Nusameta Creator Tools by
Nusameta, the development of Virtual Avatar by the AR&Co unit to provide innovative
solutions across various industries, and the enhancement of Application Programming
Interfaces (APIs) on the shopping application by the Mindstores unit to offer real-time
updates on stock availability and adjusted payment options for application providers.
Furthermore, the Company forged collaborations with business partners from diverse
industries throughout 2023, some of which is the collaboration of Nusameta with Rainbow
Moto Builder in delivering motorcycle modifications designs that could be collected by
users in the form of NFT, cooperation of AR&Co with Faber-Castell to promote the use of
immersive technology in arts and culture, as well as the collaboration of the Company
with the Indonesian Retailer Association (Aprindo) and PT Afiliasi Global Retail (AGRA)
in the application of Artificial Intelligence (AI) technology in the retail industry.




Graph 1(in Billion Rupiah): Financial performance growth for the full year period of 2022 and 2023.



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OPERATING REVENUES




            Graph 2 (in Billion Rupiah): Revenue composition for full year period of 2022 and 2023. 12

    The Company’s revenue grew significantly by 47.0% throughout the year 2023,
    amounting to IDR 2,491.6 billion compared to the year 2022 (FY 2022: IDR 1,694.5
    billion). This growth is primarily attributable to the revenue segment derived from digital
    platform solutions which recorded IDR 2,310.5 billion throughout 2023, marking a 51.8%
    year-on-year increase compared to the previous year (FY2022 : IDR 1,522.5 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, which attributes 92.7% from the Company’s total revenue for
    the year 2023. Furthermore, revenue contribution from bespoke solutions increased by
    5.3% to IDR 181.1 billion compared to the previous year’s figure of IDR 171.9 billion.

    The contribution of digital platform solutions throughout the year 2023, particularly from
    the increase in revenue from sales of goods and commissions via the platform amounting
    to IDR 742.7 billion, and revenue from promotion and advertising via platform amounting
    to IDR 45.2 billion, each experienced growth of 55.0% and 26.2%, respectively, compared
    to the previous year. This growth underscores the Company’s consistent success in
    developing its digital platform solution ecosystem with high scalability through its
    subsidiaries, namely, DAV, Mindstores, and Minar.

    COST OF REVENUE & GROSS PROFIT
    The Company recorded a cost of goods sold amounting to IDR 2,191.5 billion for the year
    2023, which increased by 47.1% compared to the previous year’s figure of IDR 1,489.3
    billion. This increase in cost of goods sold is in line with the increase in revenue,

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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particularly from the sales of goods and transaction commissions via the platform
segment, which increased by IDR 742.7 billion or 55.0% compared to the previous year.

At the same time, the Company successfully increased its gross profit by 46.3% to IDR
300.1 billion compared to the previous year and achieved a stable gross profit margin of
12.0%. With the continuous technological development and increased utilization of digital
platform solutions, the company will continue its initiatives to optimize the cost of goods
sold, leading to further growth in gross profit and gross profit margin in the future.

OPERATING EXPENSES & OPERATING PROFIT
The Company recorded an operating expense of IDR 192.7 billion in the year 2023,
reflecting a growth of IDR 60.6 billion or 45.9% compared to the previous year (FY2022:
IDR 132.1 billion). The increase in operating expenses was particularly attributable to the
increase in salaries, wages, and allowances as well as marketing expenses in order to
support the Company’s business throughout the year 2023.

The Company successfully recorded a significant increase in operating profit to IDR 107.4
billion which increased by 47.0% compared to the previous year’s figure of IDR 73.0
billion. The Company also successfully maintained a stable operating profit of 4.3% for
the year 2023. The growth in operating profit and stable operating profit margins
showcased the Company’s success in maximizing its resources throughout the year
2023, which is part of the continuous program that the Company will continue to execute.

EBITDA
The Company successfully recorded an EBITDA of IDR 141.6 billion for the the year 2023,
marking a significant increase of 57.4% compared to the last year (FY2022: IDR 89.9
billion). This positive performance aligns with the Company's increase in revenue which
increased IDR 797,1 billion or 47.0% year-on-year. Meanwhile, the Company also
successfully increased its EBITDA margins in the full year period of 2023, reaching 5.7%
from 5.3% in the previous full year period.

This increase reflects the positive outcome of the Company’s strategy in developing and
optimizing its business solutions based on immersive technology, Web 3.0, and Metaverse
with a larger scale. This solution comprises Augmented Reality (AR), Virtual Reality (VR),
and Artificial Intelligence (AI) features, especially involving digital platforms with high
scalability that can be applied and adopted in various industries.

NET INCOME
The Company's consolidated net income demonstrated very positive growth, reaching
IDR 68.5 billion in the full year period of 2023, a year-on-year increase of 42.4% (FY2022:
IDR 48.1 billion). This increase in net profit is attributed to the improved operational
efficiency and sustained and continuous revenue growth of the company during the period
of 2023. The company remains consistent in its commitment to maintaining its profitability
to ensure the sustainability of its business in the future.


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

“Throughout the year 2023, the Company successfully maintained its growth momentum
excellently through the management’s success in recording a revenue of IDR 2,491.6
billion that increased significantly by 47.0% compared to the year 2022. The increase is
also accompanied by the increase in EBITDA and Net Income each growing by 57.4%
and 42.4% to IDR 141.6 billion and IDR 68.5 billion. Revenue segment from digital
solutions platform is the main contributor for the increase in the Company’s revenue,
which successfully increased 51.8% to IDR 2,310.5 billion. Digital platform solutions
comprises the Company’s business units that has and develops digital platforms based
on AR, VR, and AI that has 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.

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