136 Consistent Transformation Toward Fit for Future Konsisten Bertransformasi untuk Menuju Masa Depan yang Sehat Ikhtisar Kinerja Keuangan Financial Performance Highlights Laporan Manajemen Management Report Profil Perusahaan Company Profile Analisis dan Pembahasan Manajemen Management Discussion and Analysis 3. Integrasi ERP di Seluruh Anak Usaha Efisiensi operasional di tengah minimnya proyek baru dengan sinkronisasi proses bisnis dalam WIKA Grup, bertujuan mengalokasikan sumber daya optimal, dan penghematan biaya operasional. 4. Audit ICOFR Mempertahankan kepercayaan investor dan kesehatan keuangan melalui evaluasi pengendalian internal, terutama dalam situasi pengetatan anggaran dan volatilitas ekonomi. Strategi ini dirancang untuk mengatasi tantangan global (gejolak harga material) dan nasional (penurunan proyek infrastruktur) dengan fokus pada efisiensi, mitigasi risiko, serta penguatan tata kelola untuk menjaga keberlanjutan bisnis WIKA. Sejalan dengan menjalankan inisiatif strategis tersebut, WIKA masih berfokus dalam menjalankan program 8 (delapan) stream penyehatan keuangan, diantaranya: 1. Restrukturisasi Keuangan • Keringanan pembayaran pokok dan/atau bunga dari kreditur • Penandatanganan perjanjian kredit baru (MRA) dan perpanjangan pokok obligasi/sukuk 2. Perbaikan Tata Kelola dan Manajemen Risiko • Penerapan ERP digital berbasis SAP • Mekanisme four eyes principles berbasis manajemen risiko untuk perolehan dan monitoring proyek • Pembuatan dashboard keuangan dan Digital Control Tower (DCT) untuk real time monitoring produksi • Penerapan tata kelola terintegrasi untuk bisnis induk dan anak usaha 3. Percepatan Penagihan Piutang Bermasalah (penurunan piutang bermasalah 21% dari fy 2023) • Pembentukan unit khusus penagihan piutang • Menjalankan proses klaim baik melalui negosiasi bilateral, dan/atau mediasi lembaga yang berwenang (BANI, Jamdatun, dan BPKP) 4. Asset Recycling • Melakukan asset recycling atau divestasi atas aset-aset investasi Perseroan dalam rangka mendapatkan dana tunai untuk penyelesaian kewajiban dan perkuatan modal Perseroan 5. Perbaikan Portfolio Orderbook ( monthly progress payment proyek per 2024 adalah 94,43%) Perbaikan portfolio kontrak, refocusing kepada proyek dengan pembayaran bulanan sehingga mengurangi defisit kas dan pinjaman untuk modal kerja 6. Penurunan Operating Expense (realisasi penurunan biaya usaha Rp15M/bulan) • Reorganisasi menyesuaikan dengan fokus bisnis perusahaan • Menerapkan negative growth bagi karyawan yang pensiun • Penerapan metode Lean Construction 7. Penurunan Saldo Pinjaman Talangan Supplier Perseroan menerapkan tidak ada lagi pembayaran mitra kerja melalui utang. Semuanya berasal dari pendanaan mandiri proyek. 8. Penguatan Struktur Permodalan Penguatan struktur permodalan melalui rights issue atau penerbitan saham baru melalui mekanisme HMETD. 3. ERP Integration Across Subsidiaries Operational efficiency amid a lack of new projects with synchronization of business processes within WIKA Group, aiming to allocate optimal resources and operational cost savings. 4. ICOFR Audit Maintaining investor confidence and financial health through internal control evaluations, especially in situations of budget tightening and economic volatility. These strategies are designed to overcome global (material price volatility) and national (decline in infrastructure projects) challenges with a focus on efficiency, risk mitigation, and governance strengthening to maintain the sustainability of WIKA's business. In line with these strategic initiatives, WIKA is still focused on implementing eight (8) streams of financial recovery, including: 1. Financial Restructuring • Relief from principal and/or interest payments from creditors • Signing of new credit agreements (MRA) and extension of bond/sukuk principal 2. Governance and Risk Management Improvement • Implementation of SAP-based digital ERP • Risk management-based four eyes principles mechanism for project acquisition and monitoring • Creation of a financial dashboard and Digital Control Tower (DCT) for real-time production monitoring • Implementation of integrated governance for parent and subsidiary businesses 3. Acceleration of Problem Debt Collection (21% reduction in problem debt by FY 2023) • Establishment of a special debt collection unit • Carrying out the claim process both through bilateral negotiations and/or mediation by authorized institutions (BANI, Jamdatun, and BPKP) 4. Asset Recycling • Conduct asset recycling or divestment of the Company's investment assets in order to obtain cash funds for the settlement of obligations and strengthening of the Company's capital 5. Improvement of Orderbook Portfolio (monthly progress payment of projects by 2024 is 94.43%) Improvement of contract portfolio, refocusing on projects with monthly payments to reduce cash deficits and loans for working capital 6. Reduction in Operating Expenses (realization of a decrease in operating costs of Rp15M/month) • Reorganization in line with the Company's business focus • Implementation of negative growth for retiring employees • Implementation of Lean Construction methods 7. Reduction in Supplier Bailout Loan Balance The Company no longer makes payments to partners through debt. Everything comes from the project's independent funding. 8. Strengthening the Capital Structure Strengthening the capital structure through a rights issue or issuance of new shares through the pre-emptive rights mechanism.
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