PT Lippo Karawaci Tbk · IDX:LPKR
PT Lippo Karawaci Tbk — FY2021 Earnings Presentation
34 slides from PT Lippo Karawaci Tbk's earnings presentation, Mar 31, 2022
Slide 1: PT Lippo Karawaci Tbk FY21 Results Presentation
PT Lippo Karawaci Tbk FY21 Results Presentation March 31, 2022
Slide 2: Forward looking statements
Forward looking statements Certain statements in this release are or may be forward- looking statements. These statements typically contain words such as "will", "expects" and "anticipates" and words of similar import. By their nature, forward looking statements involve a number of risks and uncerta
Slide 3: Introduction and Background
INTRODUCTION AND BACKGROUND 3
Slide 4: Brief introduction to Lippo Karawaci
Brief introduction to Lippo Karawaci To be a leading real ▪ To win the hearts and minds of estate and healthcare our customers through quality company in Asia, homes, healthcare and lifestyle committed to offerings, as well as people- advancing the well- VISION centric services being of those we ▪ T
Slide 5: Business Overview
Business Overview REAL ESTATE - LPKR: Holding company, developer of high rise and landed properties across Indonesia - LPCK: Developer of Lippo Cikarang, the largest integrated township in the eastern corridor of Jakarta 1 - GMTD: Developer of Tanjung Bunga in Makassar 27% HEALTHCARE 2 - Siloam Hosp
Slide 6: Key Investment Highlights
Key Investment Highlights 1 2 Large landbank and strong growth Controlling stake in the largest in marketing sales that is hospital operator in Indonesia with expected to remain elevated in over 40 hospitals across 29 cities coming years, generating positive delivering clinical excellence and cashfl
Slide 7: Indonesia's Leading Integrated Real Estate and Healthcare Platform
Indonesia's Leading Integrated Real Estate and Healthcare Platform One of the largest integrated The only fully integrated business model Largest healthcare revenue real estate company Investments (IDR tn) Real Estate & Fund 10 Management 5.8 #1 #1 #2 Management 4.4 5 3.4 by revenue by recurring by
Slide 8: Business Highlights
LIPPO BUSINESS HIGHLIGHTS
Slide 9: Business Highlights
Business Highlights Strong business performance despite Covid charts a clear path towards positive cash flows REAL ESTATE FY21 marketing sales Successfully Launched Timely execution of project 1 of Rp4.96tr (+86% 2 Cendana Cove Phase 3 delivery with 98% of II with total units / handovers completed f
Slide 10: Business Highlights (cont'd)
Business Highlights (cont'd) Revenues increased EBITDA grew Net loss improved by Total cash balance 38% 94% Rp7.29tr to increased to To To Rp4.9tr Rp1.60tr Rp16.5tr Rp3.69tr in 2021 compared to at FY21 in 2021 in 2021 Vs Rp8.89tr in 2020 Vs 2020 Vs 2020 Rp3.0tr At FY20 Quarterly Revenue EBITDA margi
Slide 11: Financial Update
LIPPO FINANCIAL UPDATE
Slide 12: Revenue, EBITDA and NPAT Improve Significantly despite Covid
Revenue, EBITDA and NPAT Improve Significantly despite Covid Revenue NPAT* (RpBn) (RpBn) +38% 16,530 2021 2020 1,116 - 674 1,197 -1,425 11,966 985 -1,012 9,382 -1,603 7,110 -9,075 3,253 4,408 2020 2021 -8,891 +101% Property & Dev SILO Mall LMIRT Hotel Others Property & Dev SILO Mall LMIRT Hotel Othe
Slide 13: Real Estate Business turnaround in FY21
Real Estate Business turnaround in FY21 Revenue EBITDA NPAT (RpBn) (RpBn) (RpBn) -60 16,530 - 168 3,693 1,197 0 Others 561 Others Real 1,155 Estate -1,012 -1,603 LMIR 92 Real LMIR Dev. LMI Others FY21 2,272 Estate 893 R SILO Dev. Real 499 Estate SILO Dev. -8,891 11,966 1,908 558 7,650 FY20 FY21 FY20
Slide 14: Operating Cash Flow Continues to Improve from Marketing Sales & Recurring Revenue
Operating Cash Flow Continues to Improve from Marketing Sales & Recurring Revenue Historical Operating Cashflow Cash Breakdown (Dec 2021) (RpBn) (RpBn) 2,000 1,628 31 1,000 376 - 2018 2019 2020 2021 2021 Holdco (incl subs) (1,000) SILO (2,000) 1,914 2,567 LPCK -2,373 GMTD (3,000) (4,000) -3,409 (5,0
Slide 15: Liquidity Continues to Stabilise from Increase in Marketing Sales
Liquidity Continues to Stabilise from Increase in Marketing Sales and Improved Business Performance Historical Net Debt(1) Historical FCCR Rp bn 2.1 2.0 1.9 2.1 14,000 0.60 1.9 1.9 1.8 12,000 0.52 0.46 0.50 1.7 0.46 1.6 1.6 10,000 0.40 1.5 0.38 1.5 1.4 8,000 0.30 1.3 12,803 1.2 6,000 11,100 10,732 1
Slide 16: Real Estate Overview
LIPPO REAL ESTATE OVERVIEW
Slide 17: Real Estate Business Key Metrics
Real Estate Business Key Metrics Marketing sales Revenue increased EBITDA increased Construction on track increased 36% rebounded To for timely completion. 174% To Rp902bn Handover of To Cendana Homes Rp4.4tr in FY21 from Rp9bn reached Rp1.1tr in FY21 in FY20 with 52% in 4Q21 Vs FY20 90% Vs 4Q20 (Rp
Slide 18: FY21 Marketing Sales increased by 86% YoY to Rp4.96tn
FY21 Marketing Sales increased by 86% YoY to Rp4.96tn Marketing Sales Breakdown by Project 18
Slide 19: Strong Sales and Completed Projects to Drive Property Business Rebound
Strong Sales and Completed Projects to Drive Property Business Rebound 2021 Marketing Sales exceeded FY21 Guidance Sales from Affordable Housing reached Rp3.1tn Rp bn 3,500 6,000 3,107 4,964 3,000 5,000 +88% 4,200 2,500 4,000 +18% 2,000 1,650 3,000 2,670 1,500 2,000 1,000 1,000 500 - - FY20 FY21 FY2
Slide 20: Marketing Sales Momentum and Land Bank in Key Growth Centers
Marketing Sales Momentum in last 3 years and Land Bank in Key Growth Centers provide Strong Foundation for Future Growth Marketing Sales Land Bank • Strong marketing sales driven by diversified portfolio of • ~1,000 hectares of land bank in Karawaci and products and geographic reach Cikarang transla
Slide 21: Healthcare Overview
LIPPO HEALTHCARE OVERVIEW
Slide 22: Record Performance from Siloam; Non-Covid Revenue Continues to Improve
Record Performance from Siloam; Non-Covid Revenue Continues to Improve Revenue* increased EBITDA grew Net Profit booked at Net Cash Position 32% 34% IDR674bn increased by to to in 2021, or growing by IDR1.01tn yoy IDR9.38tn IDR1.96tn 5x YoY compared to Net Cash Position at in FY21 in FY21 vs FY20 Rp
Slide 23: Continued Growth of Corporate and Insurance Business
Continued Growth of Corporate and Insurance Business
Slide 24: Entering Endemic, Siloam's Base Cases have Returned to Pre-covid Levels
Entering Endemic, Siloam’s Base Cases have Returned to Pre-covid Levels Entering endemic, number of covid patients in 4Q21 declined Siloam saw no. of in and outpatients improved significantly from 2Q20’s significantly compared to previous quarters trough. In 4Q21, no. of base case patients have exce
Slide 25: Lifestyle Overview
LIPPO LIFESTYLE OVERVIEW
Slide 26: Malls and Hotels see Recovery Post Covid Lockdowns
Malls and Hotels see Recovery Post Covid Lockdowns LMIRT and Lippo Malls Indonesia (LMI) Hospitality – Aryaduta Hotels • FY21 revenue of Rp1.4tn and EBITDA of Rp482bn • FY21 revenue of Rp184bn grew slightly by 13% YoY as as LMIRT was consolidated for most of 2021. occupancy continues to be affected
Slide 27: Looking Ahead
LIPPO LOOKING AHEAD
Slide 28: 4Q21 Macro Momentum to Carry Over in 2022
4Q21 Macro Momentum to Carry Over in 2022 Following the 2nd Covid wave in 3Q21, the Indonesian economy rebounded relatively quickly in 4Q21 and bounced back to growth by year-end, albeit still below pre-pandemic levels. Growth is expected to accelerate in 2022, amidst pent-up demand and increased mo
Slide 29: Strong Marketing Sales Momentum to lead to more Sustainable Growth
Strong Marketing Sales Momentum to lead to more Sustainable Growth in the Real Estate Business o 3 years into our transformation journey, we now have more conviction in our strategy and ability to deliver on our commitments. We have not only revived but grown marketing sales year over year and we ha
Slide 30: Siloam is now Well-Poised for the Next Level of Growth
With Continued Recovery in Non-Covid Patient Volumes in 2022, Siloam is now Well-Poised for the Next Level of Growth o Siloam booked its highest base case revenue and EBITDA in the company’s history in 4Q21 (at least until it was surpassed in Jan 2022) and it expects this strong performance to be re
Slide 31: Appendices
LIPPO APPENDICES
Slide 32: Consolidated Statement of Profit and Loss
Consolidated Statement of Profit and Loss Note: Above reported metrics are consolidated for LMIRT. 32
Slide 33: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position Balance sheet excluding LMIRT 33
Slide 34: Debt Maturity Profile
Debt Maturity Profile Debt breakdown Debt maturity Profile (as of Dec21) Coupon rate Coupon rate Coupon rate 12% $ million 7.25% pa 8.125% pa 7% pa 450 420.0 417.0 400 350 300 88% 250 200 150 100 81.5 $ debt Rp debt 50 28.4 0.7 0.0 7.0 0% 0 2022 2023 2024 2025 2026 Rp Loans (Local) Bonds (in $m) 202