PT Wijaya Karya Bangunan Gedung Tbk (WEGE) noted that the profit for the year attributable to the parent company owners throughout 2020 fell by around 66.06% to Rp153,281 billion compared to that in the previous year of Rp451,658 billion.

Based on the financial report published on Monday (15/3), a decrease in revenue of around 38.47% YoY to Rp2,810 trillion from Rp4,567 trillion a year earlier triggered the fall in the profit.

Also, WEGE's financial burden increased by around 59.36% to Rp32.495 billion.

However, the company managed to reduce revenue costs by around 36.66% YoY to Rp2.598 trillion from Rp4.102 trillion. Also, the final tax burden decreased by approximately 39.61% to Rp84.955 billion from Rp140.683 billion. And, the operating expenses also shrank about 10.84% ​​to Rp63.292 billion.

WEGE also pocketed a foreign exchange gain of Rp357,214 billion during 2020. The previous year it suffered a foreign exchange loss of around Rp435,186 billion.

Until the period ended December 31, 2020, WEGE's total assets were recorded at Rp6.081 trillion or slightly decreased by 1.87% from Rp6.197 trillion in the previous year. These assets consisted of liability of Rp3.886 trillion and equity of Rp2.194 trillion.

Meanwhile, WEGE  recorded cash and cash equivalents position until the end of 2020 at Rp1.507 trillion.