First Quarter of 2018, WOM Finance's Net Profit Increases Significantly to Rp55 Billion

By : Abraham Sihombing And Aldo Bella Putra | Monday, April 30 2018 - 13:30 IWST

Wom Finance ( dok
Wom Finance ( dok - Jakarta - PT Wahana Ottomitra Multiartha Tbk (WOMF), or WOM Finance, an Indonesia Stock Exchange (BEI) issuer in the automotive finance business, posted a net profit of Rp55 billion in the first quarter of 2018, up significantly by 98% compared to the same period in 2017 amounting to Rp28 billion.

"The significant net profit growth was underpinned by a significant increase in financing disbursement by 53% to Rp1, 80 trillion as of March 2018 compared to the same period of 2017 of Rp1.20 trillion," said Zacharia Susantadiredja Director of WOM Finance, in Jakarta, Monday / 04/2018).

Zoomaria said that compared to the first quarter of 2017, WOM Finance's financing composition is motorcycle financing which grew 37 percent, used motorcycle grew 19 percent, Multiguna Jasa MotorKu increased by 41 percent and Multiguna Jasa MobilKu surged 128 percent.

"Multiguna Jasa (MotorKu and MobilKu) has a substantial contribution, amounting to 46% of total financing in the unit," Zacharia added.

Zacharia said the company in the first quarter of this year managed to distribute new motorcycle financing of 127,000 units, or 39% higher than the same period in 2017.

Meanwhile, WOM Finance's total assets increased 30% to Rp8.10 trillion in the first quarter of 2018 compared to the same period in 2017 of Rp6.30 trillion. Total liabilities also rose 31% to Rp7.10 trillion from Rp5.50 trillion in Trw-I 2017. Total Equity reached more than Rp1 trillion in January-March 2018 or grew 24%.

The Return of Equity (ROE) of the company as of March 2018 rose to 21% from 13% as of March 2017. While Return of Assets (ROA) increased to 4% compared to 2% in the first quarter of 2017 and Non-Performing Financing (NPF) 2.96% as of March 2017 to 2.17% as of March 2018.

The Company has also implemented several strategies to improve service quality and support its business growth. The Company adds and enhances the status of its network offices to facilitate consumers in accessing the Company's services.

Total office network of the Company as of March 2018 reached 188 Office network consisting of 110 Branch Offices and 78 Offices Other than Branch Offices. In terms of Operational and Information Technology (IT), the company continues to strengthen the fundamentals and IT infrastructure by upgrading the IT Core System currently underway.

Meanwhile, Djaja Suryanto Sutandar, President Director of WOM Finance, said the company's outstanding performance in the first quarter of 2018 is a manifestation of the company's management capability to execute well-defined business strategies.

"The management of the company managed to increase growth by maintaining the quality of financing. Going forward, the move will continue to be maintained and we will continue to innovate to provide the best products and services to the community. Therefore, we are optimistic to achieve better company performance, "concluded Djaja. (Abraham Sihombing)

News Comment

Today's Industry

Wellington College Independent School Jakarta (WCIJ)

Senin, 29 April 2024 - 05:02 WIB

One of the UK’s Most Established Schools Chooses Jakarta for Their Latest Opening

Wellington College Independent School Jakarta (WCIJ) is thrilled to announce its grand opening in September 2024! As the first private UK school to open in Indonesia, WCIJ, a pioneering co-educational…

Presiden Jokowi

Selasa, 23 April 2024 - 10:29 WIB

President Jokowi Reaffirms Commitment to Farmers’ Welfare

President Joko “Jokowi” Widodo on Monday (04/22) inspected corn harvest in Boalemo regency, Gorontalo province. “Our corn import has decreased significantly from 3.5 million tonnes to…

Photo: Aris Nurjani/VOI

Rabu, 28 Februari 2024 - 12:47 WIB

Carsurin and NBRI Strengthen Strategic Alliance to Propel Indonesia’s EV Industry

PT Carsurin Tbk ("Carsurin") and the National Battery Research Institute ("NBRI") are pleased to announce the signing of a pivotal Strategic Alliance Agreement (SAA), marking a significant advancement…

Beras (Foto/Rizki Meirino)

Rabu, 21 Februari 2024 - 08:43 WIB

Gov’t to Continue Disbursing Rice Assistance

President Joko “Jokowi” Widodo has ensured that the Government will continue rolling out the rice assistance program for low-income families. The President made the statement when handing…

Ilustrasi pabrik beras. (Foto: DetikFood)

Rabu, 21 Februari 2024 - 08:40 WIB

Bapanas Head Ensures Availability of Rice Stock Ahead of Ramadan

The National Food Agency (Bapanas) has ensured the availability of rice for the fasting month of Ramadan and Eid al-Fitr 1445 Hijri/2024 CE. “We believe that there is enough rice for the fasting…