Annonce • May 21
Pt Wicaksana Overseas International Tbk, Annual General Meeting, Jun 25, 2025 Pt Wicaksana Overseas International Tbk, Annual General Meeting, Jun 25, 2025. Reported Earnings • Oct 25
Third quarter 2024 earnings released: Rp13.78 loss per share (vs Rp14.43 loss in 3Q 2023) Third quarter 2024 results: Rp13.78 loss per share. Revenue: Rp341.7b (down 5.9% from 3Q 2023). Net loss: Rp33.0b (loss widened 5.9% from 3Q 2023). Reported Earnings • Jul 31
Second quarter 2024 earnings released: Rp11.43 loss per share (vs Rp29.90 loss in 2Q 2023) Second quarter 2024 results: Rp11.43 loss per share (improved from Rp29.90 loss in 2Q 2023). Revenue: Rp320.1b (down 13% from 2Q 2023). Net loss: Rp33.7b (loss narrowed 19% from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. Annonce • May 18
Pt Wicaksana Overseas International Tbk, Annual General Meeting, Jun 10, 2024 Pt Wicaksana Overseas International Tbk, Annual General Meeting, Jun 10, 2024. New Risk • May 12
New major risk - Negative shareholders equity The company has negative equity. Total equity: -Rp13b This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-Rp72b free cash flow). Shares are highly illiquid. Negative equity (-Rp13b). Earnings have declined by 32% per year over the past 5 years. Shareholders have been substantially diluted in the past year (72% increase in shares outstanding). Minor Risk Market cap is less than US$100m (Rp316.0b market cap, or US$19.6m). Reported Earnings • Apr 03
Full year 2023 earnings released: Rp60.37 loss per share (vs Rp106 loss in FY 2022) Full year 2023 results: Rp60.37 loss per share (improved from Rp106 loss in FY 2022). Revenue: Rp1.42t (down 12% from FY 2022). Net loss: Rp111.0b (loss narrowed 20% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has fallen by 33% per year, which means it is performing significantly worse than earnings. Board Change • Feb 29
No independent directors There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. 1 highly experienced director. No independent directors (3 non-independent directors). President Commissioner Djajadi Djaja is the most experienced director on the board, commencing their role in 1991. Independent Commissioner Ridho Hutapea was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Board Change • Jan 25
No independent directors There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. 1 highly experienced director. No independent directors (3 non-independent directors). President Commissioner Djajadi Djaja is the most experienced director on the board, commencing their role in 1991. Independent Commissioner Ridho Hutapea was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Board Change • Jan 09
No independent directors There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. 1 highly experienced director. No independent directors (3 non-independent directors). President Commissioner Djajadi Djaja is the most experienced director on the board, commencing their role in 1991. Independent Commissioner Ridho Hutapea was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Dec 03
Third quarter 2023 earnings released: Rp14.43 loss per share (vs Rp19.35 loss in 3Q 2022) Third quarter 2023 results: Rp14.43 loss per share (improved from Rp19.35 loss in 3Q 2022). Revenue: Rp363.1b (down 3.5% from 3Q 2022). Net loss: Rp31.2b (loss narrowed 1.5% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has fallen by 36% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 02
Second quarter 2023 earnings released: Rp29.90 loss per share (vs Rp19.63 loss in 2Q 2022) Second quarter 2023 results: Rp29.90 loss per share (further deteriorated from Rp19.63 loss in 2Q 2022). Revenue: Rp368.5b (down 4.3% from 2Q 2022). Net loss: Rp41.6b (loss widened 67% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 41% per year whereas the company’s share price has fallen by 43% per year. New Risk • Jul 27
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 86% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-Rp98b free cash flow). Shares are highly illiquid. Negative equity (-Rp13b). Earnings have declined by 65% per year over the past 5 years. Shareholders have been substantially diluted in the past year (86% increase in shares outstanding). Minor Risk Market cap is less than US$100m (Rp273.2b market cap, or US$18.2m). Board Change • Jul 12
No independent directors There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. 1 highly experienced director. No independent directors (3 non-independent directors). President Commissioner Djajadi Djaja is the most experienced director on the board, commencing their role in 1991. Independent Commissioner Ridho Hutapea was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Board Change • May 25
No independent directors There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. 1 highly experienced director. No independent directors (3 non-independent directors). President Commissioner Djajadi Djaja is the most experienced director on the board, commencing their role in 1991. Independent Commissioner Ridho Hutapea was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Dec 02
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: Rp376.2b (down 38% from 3Q 2021). Net loss: Rp31.6b (loss narrowed 26% from 3Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Board Change • Nov 16
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 5 new directors. 3 experienced directors. 1 highly experienced director. No independent directors (3 non-independent directors). President Commissioner Djajadi Djaja is the most experienced director on the board, commencing their role in 1991. Independent Commissioner Victor Hew was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Sep 05
Second quarter 2022 earnings released: Rp19.63 loss per share (vs Rp4.51 loss in 2Q 2021) Second quarter 2022 results: Rp19.63 loss per share (further deteriorated from Rp4.51 loss in 2Q 2021). Revenue: Rp385.1b (down 49% from 2Q 2021). Net loss: Rp24.9b (loss widened 336% from 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
No independent directors There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. 5 experienced directors. 1 highly experienced director. No independent directors (3 non-independent directors). President Commissioner Djajadi Djaja is the most experienced director on the board, commencing their role in 1991. Independent Commissioner Haji Suhadi was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Reported Earnings • Jan 11
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: Rp33.60 loss per share (down from Rp19.44 loss in 3Q 2020). Revenue: Rp610.1b (down 19% from 3Q 2020). Net loss: Rp42.6b (loss widened 73% from 3Q 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Reported Earnings • Jul 04
Full year 2020 earnings released: Rp32.32 loss per share (vs Rp21.73 loss in FY 2019) The company reported a solid full year result with improved revenues and control over costs, although losses increased. Full year 2020 results: Revenue: Rp3.10t (up 67% from FY 2019). Net loss: Rp41.0b (loss widened 49% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 108 percentage points per year, which is a significant difference in performance. Reported Earnings • Jan 29
Third quarter 2020 earnings released: Rp19.44 loss per share (vs Rp0.53 loss in 3Q 2019) The company reported a mediocre third quarter result with increased losses and weaker control over costs, although revenues improved. Third quarter 2020 results: Revenue: Rp751.9b (up 71% from 3Q 2019). Net loss: Rp24.7b (loss widened Rp24.0b from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 94% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 19
New 90-day low: Rp430 The company is down 14% from its price of Rp500 on 22 October 2020. The Indonesian market is up 25% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Retailing industry, which is up 17% over the same period. Is New 90 Day High Low • Dec 18
New 90-day low: Rp434 The company is down 14% from its price of Rp505 on 15 September 2020. The Indonesian market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Retailing industry, which is up 7.0% over the same period. Reported Earnings • Dec 04
Third quarter 2020 earnings released: Rp19.45 loss per share The company reported a mediocre third quarter result with increased losses and weaker control over expenses, although revenues were improved. Third quarter 2020 results: Revenue: Rp751.9b (up 71% from 3Q 2019). Net loss: Rp24.7b (loss widened Rp24.0b from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 94% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.