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Wison Engineering Doubled New Contracts Value in 2018

Release time:2019-04-01

Wison Engineering (SEHK Stock Code: 2236), the global leading engineering, procurement and construction (EPC) service provider headquartered in Shanghai, China, held the annual results briefing and announced that the total new contract value signed in 2018 reached to 7.17 billion RMB (US$1.07 billion), representing 130% growth from the value (3.12 billion RMB) recorded in 2017.

 

The revenue and gross profit of 2018 were 3.26 billion RMB and 499 million RMB respectively. The accumulative backlog in 2018 reached 13.2 billion RMB, up 40.1% from 9.42 billion RMB in 2017.

 

Due to the cyclical nature of the industry, there has been a tough for the company in the past several years with a fluctuation in both revenue and gross profit. However, considering the large amount of new contracts and backlog, the situation will improve as these projects enter into the peak construction stages. It is estimated that over 50% of 2019 revenue will be generated from the new contracts signed in 2018.

 

With rising energy prices and sustained high profitability in chemical industry, investment in energy and chemical industry is picking up globally. Wison Engineering will grasp this opportunity of the up-cycle, and strategically expand the company’s business in both domestic and overseas markets to increase the total new contract value to 40 billion RMB in next two years.

 

As a public listed company, Wison Engineering is known for its operational nimbleness, reliability and cost-competitiveness in EPC service space.By leveraging its integrated capacities in EPC service, technology, digitalization and modularization, Wison Engineering endeavours to provide the most reliable and cost-effective solutions to our global clients.