Pt Ciputra Development Tbk · IDX:CTRA
Pt Ciputra Development Tbk — CITIC CLSA Flagship Investors' Forum 2021
51 slides from Pt Ciputra Development Tbk's conference presentation, September 2021
Slide 1: CITIC CLSA Flagship Investors' Forum
CITIC CLSA Flagship Investors' Forum (15-16 September) 1
Slide 2: One of Indonesia's Leading Property Developer
One of Indonesia’s Leading Property Developer Property Development for Sale Township Residential Condominium Office Core Business Commercial Property Development & Management Shopping Hotel Healthcare Office Others Mall 2
Slide 3: Geographically Diversified Project Portfolio
Geographically Diversified Project Portfolio Kalimantan Over 81 projects CitraGrand Senyiur City Samarinda CitraLand Banjarmasin CitraGarden City Samarinda CitraGarden Banjarmasin in 34 cities across Sumatra Medan CitraLand City Samarinda CitraGarden Aneka Pontianak CitraMitra City Banjarbaru CitraC
Slide 4: Greater Jakarta Project Portfolio
Greater Jakarta Project Portfolio 4
Slide 5: Country Overview
Country Overview Eo CIPUTRA DEVELOPMENT TBK
Slide 6: Encouraging Macro Conditions
Encouraging Macro Conditions Real GDP Growth 5.0% 4.9% 5.0% 5.1% 5.2% 5.0% Robust economic growth accelerating middle class formation and increasing housing demand -2.1% Home Ownership Loan Outstanding (Rp tn) 2014 2015 2016 2017 2018 2019 2020 500 16.0% Housing Loan as % of Nominal GDP 400 12.0% (D
Slide 7: Favorable Population Structure
Favorable Population Structure Percentage of population in urban and rural areas Population by Age Group and 100% Dependancy Ratio 90% 51.1 80% 47.5 47.7 70% 60% 5.0% 6.3% 9.2% 50% 40% 66.2% 67.8% 67.7% 30% 20% 10% 28.8% 25.9% 23.1% 0% 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010
Slide 8: Regulatory Support from the Government
Regulatory Support from the Government Lowered super luxury tax from 5% to 1% and Increased maximum Loan-to-Value (LTV) to increased the threshold from Rp5bn to Rp30bn. 100% for all mortgages. Increased price threshold for 20% luxury tax from Increased limit for mortgages for units under Rp10bn to R
Slide 9: Company Overview
Company Overview Eo CIPUTRA DEVELOPMENT TBK
Slide 10: Marketing Sales Summary
Marketing Sales Summary Historical Presales Presales per Location (Rp bn) 2020 6M21 Greater 6,363 Surabaya Other Greater 6,131 12% Java Surabaya 5,870 16% 22% 5,493 Greater Other Greater Java 2,595 Sumatra Jakarta Jakarta 18% 18% 41% 2,955 43% 2,826 Sumatra 2,909 3,564 Sulawesi Sulawesi 15% 9% Other
Slide 11: Marketing Sales Summary
Marketing Sales Summary Presales per Payment Method Presales per Unit Price 10% 7% 6% 7% 6% 12% 15% 15% 19% 25% 21% 29% 29% 29% 30% 40% 32% 37% 31% 18% 21% 39% 24% 32% 34% 53% 56% 48% 48% 50% 43% 36% 34% 31% 31% 2017* 2018* 2019 2020 6M21 2017* 2018* 2019 2020 6M21 Mortgage Instalment Cash < Rp1bn R
Slide 12: Sufficient Land Bank to Sustain >15 Years of Development
Sufficient Land Bank to Sustain >15 Years of Development Gross Land Land ASP Ownership Land ASP Trend Project Name Bank (Rp mn per sqm) Scheme Ha 2010-13 CAGR 2013-20 CAGR 2020 CitraRaya Tangerang 100% 793 63% 8% 4.5 CitraIndah Jonggol 100% 191 17% 12% 1.9 CitraGarden City Jakarta 100% 117 48% 4% 15
Slide 13: Rights to Additional Land Bank Through Joint-Operation Schemes
Rights to Additional Land Bank Through Joint-Operation Schemes Development Land ASP Development Land ASP Joint Operation Project Plan (Ha) (Rp mn per Joint Operation Project Plan (Ha) (Rp mn per sqm) sqm) Citra Sentul Raya 114 5.6 CitraGrand Senyiur City Samarinda 295 1.6 CitraLake Sawangan Depok 12
Slide 14: Apartment Assets – Strata Title
Apartment Assets – Strata Title Est. Unsold Ownership Saleable SGA Sold Construction Project Name Tower Stock Value Scheme (sqm) % Progress (Rp bn) Ciputra World Jakarta 1 Raffles Residence 100% 41,500 84% 417 100% The Orchard 31,000 93% 101 100% Ciputra World Jakarta 2 100% The Residence 14,000 97%
Slide 15: Office Assets – Strata Title and Leased
Office Assets – Strata Title and Leased Strata-Title Office Est. Unsold Ownership Saleable SGA Construction Project Name Tower Sold Stock Value Scheme (sqm) Progress (Rp bn) Ciputra World Jakarta 1 DBS Bank Tower 100% 18,300 96% 38 100% Ciputra World Jakarta 2 Tokopedia Tower 100% 28,000 82% 221 100
Slide 16: Apartment and Office Completion Schedule
Apartment and Office Completion Schedule Apartment Strata-Title (SGA ‘000 sqm) 25.3 22.7 15.8 9.1 163.2 6.7 8.5 17.6 19.8 15.2 22.5 Total Apartment Ciputra International CitraPlaza Nagoya Ciputra World Citra Living Ciputra World Barsa City CitraLand Vittorio CitraLand City Losari Citra Landmark Cipu
Slide 17: Future Mixed-Use Developments
Future Mixed-Use Developments Est. Saleable Ownership Project Name SGA Scheme (sqm) Ciputra World Jakarta 1 100% 110,000 Ciputra World Jakarta 2 100% 42,000 Ciputra World Jakarta 3 100% 99,000 Citra Landmark Ciracas* JV - 46% 46,000 Ciputra International** JV - 55% 66,000 CitraLake Suites JV - 51% 1
Slide 18: Healthy Occupancy and Lease Expiry Profile for Malls
Healthy Occupancy and Lease Expiry Profile for Malls Net Leasable Occupancy Rate Mall Area (sqm) 2017 2018 2019 2020 6M21 • Total mall NLA of 219k m² Ciputra World Jakarta 1 79,500 100% 100% 100% 100% 100% Ciputra World Surabaya* 50,300 94% 92% 96% 94% 92% with average occupancy Ciputra Mall Jakarta
Slide 19: Gradual Recovery in Hotel Operational Metrics
Gradual Recovery in Hotel Operational Metrics Revenue per Available Room (RevPAR) (in Rp’000) 1,520 1,428 1,422 +34% Star Hotels 940 699 573 583 +24% 504 452 461 -10% 498 489 +15% 443 477 391 373 354 241 287 174 220 210 152 156 Raffles Hotel Raffles (CiputraHotel World Jakarta 1) Ciputra World Ciput
Slide 20: Integrated Healthcare Facilities within Township Projects
Integrated Healthcare Facilities within Township Projects Ciputra Hospital Tangerang Ciputra Hospital Jakarta Ciputra Mitra Hospital Township CitraRaya Tangerang CitraGarden City Jakarta CitraLand Banjarmasin Location West Greater Jakarta West Jakarta South Kalimantan Start Operation Nov-11 Dec-15 N
Slide 21: Growth Strategy and Project Highlights
Growth Strategy and Project Highlights
Slide 22: Key Developments
Key Developments • Launched 2 new projects and 9 new clusters/towers in 6 existing projects with a combined presales of Rp831bn (23% of 6M21 achievement) • Total 6M21 presales reached Rp3.6tn (61% of FY21 target) • Conducted an en bloc sale of 253 apartment units to Diener Syz Real Estate in Ciputra
Slide 23: Growth Strategy
Growth Strategy • Retain healthy land bank levels (currently sufficient for >15 years of development) by continuously replenishing land bank in existing projects while searching for new strategic locations • Sustain wide geographical footprint (currently have a presence in 34 cities) to allow divers
Slide 24: New Projects 2021
New Projects 2021 CitraLand Puncak Tidar Malang Location Malang, East Java Launch Feb 2021 Development plan 32 ha Market segment Middle and middle-up Pre-sales 6M21 Rp218 billion Selling price per unit Rp1.1 billion to Rp6.0 billion Average unit selling price Rp2.5 billion Average land selling price
Slide 25: New Projects 2021
New Projects 2021 Citra Landmark Location Ciracas, East Jakarta Launch Mar 2021 Development plan Phase 1: 2 ha out of 7 ha (approx. 61,000 sqm out of 213,000 sqm SGA) Market segment Middle-low and low Pre-sales 6M21 Rp58 billion Selling price per unit Rp337 million to Rp962 million Average unit sell
Slide 26: Key Projects 2021
Key Projects 2021 CitraLand Surabaya Location West Surabaya Launch 1993 Development plan 1,700 ha (sold 767 ha) Market segment Middle to middle-high Pre-sales 6M21 Rp486 billion Selling price per unit Rp455 million to Rp5.6 billion Average unit selling price Rp2.2 billion Average land selling price
Slide 27: Key Projects 2021
Key Projects 2021 CitraRaya Tangerang Location Tangerang, West of Jakarta Launch 1994 Development plan 2,760 ha (sold 855 ha) Market segment Middle-low to middle-high Pre-sales 6M21 Rp407 billion Selling price per unit Rp169 million to Rp3.8 billion Average unit selling price Rp818 million Average l
Slide 28: Key Projects 2021
Key Projects 2021 CitraLand Gama City Medan Location Medan, North Sumatra Launch Feb 2013 Development plan 123 ha out of 211 ha masterplan Market segment Middle and middle-up Pre-sales 6M21 Rp354 billion Selling price per unit Rp783 million to Rp8.7 billion Average unit selling price Rp2.9 billion A
Slide 29: Key Projects 2021
Key Projects 2021 Citra Sentul Raya Location Sentul, South Greater Jakarta Launch Jul 2019 Development plan Phase 1: 114 ha out of 1,000 ha master plan Market segment Middle and middle-low Pre-sales 6M21 Rp278 billion Selling price per unit Rp595 million to Rp2.3 billion Average unit selling price R
Slide 30: Key Projects 2021
Key Projects 2021 CitraGarden City Jakarta Location Kalideres, West Jakarta Launch 1984 Development plan 454 ha (sold 352 ha) Market segment Middle to high Pre-sales 6M21 Rp231 billion Selling price per unit Rp419 million to Rp3.2 billion Average unit selling price Rp 1.2 billion Average land sellin
Slide 31: Key Projects 2021
Key Projects 2021 Newton 1 – Drop Off Lobby Ciputra World Jakarta (CWJ) 2 Ciputra World Jakarta (CWJ) 2 Ciputra World Jakarta (CWJ) 2 Newton 1 Newton 1 – Lobby Ciputra World 2 Jakarta Location Jakarta CBD Launch Sep 2020 (Newton 2) Development plan ± 5.2 hectare Market segment Middle and middle-up N
Slide 32: Key Projects 2021
Key Projects 2021 CitraIndah City Jonggol Location South Greater Jakarta Launch 1997 Development plan 780 ha (sold 618 ha) Market segment Middle and middle low Pre-sales 6M21 Rp121 billion Selling price per unit Rp152 million to Rp1.4 billion Average unit selling price Rp406 million Average land sel
Slide 33: Key Projects 2021
Key Projects 2021 Citra Maja Raya Location Lebak, Banten, West Java Launch November 2014 Development plan 1,200 ha (sold 273 ha) Market segment Middle to middle-low Pre-sales 6M21 Rp107 billion Selling price per unit Rp89 million to Rp1.0 billion Average unit selling price Rp258 million Average land
Slide 34: Key Projects 2021
Key Projects 2021 CitraLand Palembang Location Palembang, South Sumatra Launch November 2017 Development plan 114 ha (sold 10 ha) Market segment Middle GERBANG Pre-sales 6M21 Rp72 billion TOL GANDUS Selling price per unit Rp573 million to Rp3.0 billion 10 km ke CitraLand Average unit selling price R
Slide 35: Results Summary
Results Summary Eo CIPUTRA DEVELOPMENT TBK
Slide 36: Results Summary (Income Statement)
Results Summary (Income Statement) (Rp bn) 6M21 6M20 % YoY Effect of 49.8% YoY in Property Development segment and 23.1% Revenue 4,020 2,804 43.4% YoY in Recurring segment COGS (2,059) (1,508) 36.6% Gross Profit 1,961 1,297 51.2% Gross Profit Margin 48.8% 46.2% Operating Expense (730) (757) -3.5% Ef
Slide 37: Results Summary (Revenue Breakdown and Margin Performance)
Results Summary (Revenue Breakdown and Margin Performance) (Rp bn) 6M21 6M20 % YoY Revenue Breakdown Property Development Revenue 3,191 2,131 49.8% Houses, shophouses, and land lots 2,344 1,815 29.1% Office for sale 549 288 90.5% Adoption of new accounting standard affecting highrise revenue recogni
Slide 38: Results Summary (Revenue per Segment and per Location)
Results Summary (Revenue per Segment and per Location) Revenue per Segment (6M21) Revenue per Location (6M21) Office Greater Strata Apartment Surabaya 14% Strata 26% 7% Shopping Malls 5% Hotels Other 3% Java 12% Others 13% Sumatra 7% Houses, Sulawesi shophouses, and Greater Jakarta 2% land lots 50%
Slide 39: Results Summary (Historical Revenue Breakdown)
Results Summary (Historical Revenue Breakdown) Rp tn Development vs. Recurring Revenue 9.0 8.0 1.5 7.0 1.8 1.9 6.0 1.6 1.7 25% 5.0 24% 27% 21% 4.0 23% 18% 0.8 6.6 3.0 5.9 5.7 5.1 4.7 2.0 3.2 1.0 - 2016 2017 2018 2019 2020 6M21 Development Revenue Recurring Revenue Recurring as % of Total Revenue • C
Slide 40: Debt Profile
Debt Profile As of Jun-21 Floating Fixed Rupiah SGD Total Borrowings: Rp9.6tn 84% 16% 80% 20% 31% 3.0 2.5 12.7% 18% 2.0 12.1% 11.7% 10.3% 10.2% 10.4% 13% 1.5 8.4% 12% 11% 1.0 6% 6% 0.5 2% 0.0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Short Term Bank Loan Maturity Lon
Slide 41: Capex Schedule
Capex Schedule Historical Capex Rp tn Mall 2.1 2.0 Land for 13% Development 6M21 74% 0.4tn Hospital 1.3 1.1 4% 0.9 0.8 Hotel 1% 0.4 Others 7% 2015 2016 2017 2018 2019 2020 6M21 • Increased mall capex due to the construction of Ciputra World Surabaya Extension 41
Slide 42: Financial Highlights
Financial Highlights Revenue Gross Profit 4,121 8,071 3,628 3,792 7,670 7,608 3,290 6,739 6,443 2,997 49% 51% 46% 50% 1,961 4,020 49% 47% 47% 1,297 2,804 2016 2017 2018 2019 2020 6M20 6M21 2016 2017 2018 2019 2020 6M20 6M21 Gross Profit Gross Margin Net Profit Key Ratios 1,321 1,185 2.2 2.3 1,158 1.
Slide 43: Balance Sheet Summary
Balance Sheet Summary Rp bn Jun 2021 Dec 2020 Dec 2019 Dec 2018 Dec 2017 Dec 2016 Assets 40,366 39,255 36,196 34,289 31,872 29,169 Cash & cash equivalents 6,385 5,276 4,238 3,243 3,240 3,471 Land 14,688 14,471 13,523 13,048 11,696 10,109 Fixed Assets 2,567 2,595 3,089 3,114 3,144 3,034 Investment Pr
Slide 44: Appendix
Appendix Eo CIPUTRA DEVELOPMENT TBK
Slide 45: Corporate Structure
Corporate Structure PT Sang Pelopor Public 52.84% 47.16% (18,560,303,397 shares @ Rp 250) 99.99% PT CIPUTRA RESIDENCE 98.33% PT CIPUTRA ADIGRAHA PT CIPUTRA RAYA 65.75% & Subsidiaries SEJAHTERA & Subsidiaries 99.99% PT CIPUTRA NUSANTARA 99.84% PT SARANANEKA INTERNATIONAL CITY 7.43% & Subsidiaries IND
Slide 46: Corporate Milestones
Corporate Milestones Capital raising & corporate actions -> Strengthening our financial position to support business expansion 2006 : - Issuance of 2.4 billion shares without pre-emptive rights for debt settlement - Rights Issue II 2007 : IPO of PT Ciputra Property Tbk (CTRP) 2015 : Share dividend d
Slide 47: Competitive Strength
Competitive Strength BUSINESS PROSPECT Increase in Change in Availability in Potential Stable Urbanization Government housing customers’ mortgage economic political trends stimulus plan needs lifestyle facility growth outlook We are well Focus on real estate business positioned in Indonesia’s Steady
Slide 48: Experienced Management Team
Experienced Management Team Board of Commissioners Board of Directors Dian Sumeler Rina Ciputra S. Junita Ciputra Sandra Hendharto Candra Ciputra Cakra Ciputra Budiarsa Sastrawinata Harun Hajadi Chairman President Kodradi Thomas Bambang Tanan H. Antonius Agussurja Widjaja MI Meiko Handojo Nanik J. S
Slide 49: Investor Relations
Investor Relations Ciputra World 1 DBS Bank Tower 39th Floor Jl. Prof. DR. Satrio Kav. 3-5 Jakarta 12940 - Indonesia Phone : +62 21 29885858 / 6868 Fax : +62 21 29888787 Email : [email protected] Website : www.ciputradevelopment.com 49
Slide 50: Disclaimer
Disclaimer Any person obtaining this Presentation material, will be deemed to have understood and agreed to the obligations and restrictions herein. The content of this material are provided on a strictly private confidential basis and shall be the proprietary of PT. CIPUTRA DEVELOPMENT Tbk. Informa
Slide 51: PT Ciputra Development Tbk
PT Ciputra Development Tbk
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