Announcement • Apr 16
PT Waskita Beton Precast Tbk, Annual General Meeting, May 22, 2026 PT Waskita Beton Precast Tbk, Annual General Meeting, May 22, 2026. Reported Earnings • Mar 27
Full year 2025 earnings released: Rp10.84 loss per share (vs Rp18.24 loss in FY 2024) Full year 2025 results: Rp10.84 loss per share (improved from Rp18.24 loss in FY 2024). Revenue: Rp1.57t (down 20% from FY 2024). Net loss: Rp537.4b (loss narrowed 46% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 34% per year, which means it has not declined as severely as earnings. New Risk • Feb 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indonesian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. 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 (-Rp19b free cash flow). Negative equity (-Rp1.8t). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (Rp1.16t market cap, or US$68.3m). Board Change • Oct 24
No independent directors There are 5 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: 5 new directors. No experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Commissioner . Poerwanto is the most experienced director on the board, commencing their role in 2022. 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. Announcement • Apr 11
PT Waskita Beton Precast Tbk, Annual General Meeting, May 19, 2025 PT Waskita Beton Precast Tbk, Annual General Meeting, May 19, 2025. Location: jakarta Indonesia Reported Earnings • Oct 22
Third quarter 2024 earnings released: Rp3.45 loss per share (vs Rp3.79 loss in 3Q 2023) Third quarter 2024 results: Rp3.45 loss per share (improved from Rp3.79 loss in 3Q 2023). Revenue: Rp442.4b (up 13% from 3Q 2023). Net loss: Rp172.1b (loss narrowed 30% from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has fallen by 50% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 30
Second quarter 2024 earnings released: Rp7.14 loss per share (vs Rp11.43 loss in 2Q 2023) Second quarter 2024 results: Rp7.14 loss per share. Revenue: Rp386.3b (up 41% from 2Q 2023). Net loss: Rp342.5b (loss widened 22% from 2Q 2023). New Risk • Jun 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indonesian stocks, typically moving 13% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Negative equity (-Rp790b). Earnings have declined by 7.4% per year over the past 5 years. Shareholders have been substantially diluted in the past year (115% increase in shares outstanding). Minor Risk Market cap is less than US$100m (Rp527.1b market cap, or US$32.7m). Announcement • Jun 01
PT Waskita Beton Precast Tbk, Annual General Meeting, Jun 19, 2024 PT Waskita Beton Precast Tbk, Annual General Meeting, Jun 19, 2024. Location: jakarta kota adm. jakarta timur dki., jakarta indonesia, jakarta Indonesia Reported Earnings • May 04
First quarter 2024 earnings released First quarter 2024 results: Revenue: Rp505.7b (up 38% from 1Q 2023). Net loss: Rp126.0b (down Rp142.4b from profit in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has fallen by 57% per year, which means it is significantly lagging earnings. New Risk • Apr 02
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 100% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shareholders have been substantially diluted in the past year (115% increase in shares outstanding). Minor Risks Negative equity (-Rp664b). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.4% net profit margin). Reported Earnings • Apr 01
Full year 2023 earnings released: EPS: Rp0.16 (vs Rp27.57 in FY 2022) Full year 2023 results: EPS: Rp0.16 (down from Rp27.57 in FY 2022). Revenue: Rp1.49t (down 28% from FY 2022). Net income: Rp6.30b (down 99% from FY 2022). Profit margin: 0.4% (down from 33% in FY 2022). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings. New Risk • Dec 13
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 115% 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 (-Rp104b free cash flow). Negative equity (-Rp2.4t). Earnings have declined by 31% per year over the past 5 years. Shareholders have been substantially diluted in the past year (115% increase in shares outstanding). New Risk • Aug 05
New major risk - Revenue and earnings growth Earnings have declined by 31% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. 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 (-Rp104b free cash flow). Negative equity (-Rp2.4t). Earnings have declined by 31% per year over the past 5 years. Minor Risk Market cap is less than US$100m (Rp1.23t market cap, or US$80.8m). Reported Earnings • Aug 04
Second quarter 2023 earnings released: Rp11.43 loss per share (vs Rp69.53 profit in 2Q 2022) Second quarter 2023 results: Rp11.43 loss per share (down from Rp69.53 profit in 2Q 2022). Revenue: Rp274.6b (down 39% from 2Q 2022). Net loss: Rp280.2b (down 116% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 11
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: Rp27.56 (up from Rp79.27 loss in FY 2021). Revenue: Rp2.06t (up 49% from FY 2021). Net income: Rp675.8b (up Rp2.62t from FY 2021). Profit margin: 33% (up from net loss in FY 2021). The move to profitability was primarily driven by lower expenses. Revenue exceeded analyst estimates by 7.3%. Earnings per share (EPS) also surpassed analyst estimates. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 32% per year, which means it is performing significantly worse than earnings. Board Change • Mar 21
No independent directors There are 9 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: 9 new directors. No experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). President Director FX Ratsunu is the most experienced director on the board, commencing their role in 2020. Independent Commissioner Abianti Riana was the last independent director to join the board, commencing their role in 2022. 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. 
