PT Lippo Karawaci Tbk · IDX:LPKR
PT Lippo Karawaci Tbk — Q3 2021 Earnings Presentation
83 slides from PT Lippo Karawaci Tbk's earnings presentation, Nov 4, 2021
Slide 1: PT Lippo Karawaci Tbk 3Q21 Results Presentation
PT Lippo Karawaci Tbk 3Q21 Results Presentation 4 November 2021
Slide 2: Shareholder Structure
Shareholder Structure As of 30 September 2021 As of 31 December 2020 No. of No. of Change Description No. of Shares % No. of Shares % Investors Investors YTD (%) Domestic Insurance 27 1,167,466,540 1.6% 24 1,049,803,440 1.5% 11.2% Individual 20,301 3,716,440,828 5.2% 20,166 2,885,379,262 4.1% 28.8%
Slide 3: Contents
Contents Business Model 04 - 08 Recent Developments 09 - 19 9M21 Financial Data 20 - 40 Corporate Governance Initiatives 41 - 46 Subsidiaries 47 - 58 Meikarta 59 - 61 Corporate Data 62 - 65 Appendix 66 – 74 Looking Ahead 75 - 82
Slide 4: Lippo Karawaci – Business Overview
Lippo Karawaci – Business Overview REAL ESTATE - LPKR: Holding company, developer of high rise and landed properties across Indonesia - LPCK: Developer of Lippo Cikarang, the largest integrated the largest integrated township in the eastern corridor of Jakarta 1 - GMTD: developer of Tanjung Bunga in
Slide 5: Key Investment Highlight
Key Investment Highlight 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 26 cities coming years, generating positive delivering clinical excellence and cashflo
Slide 6: 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 7: Simplified organization and refocused strategy
Simplified organization and refocused strategy Revised strategy focused on disciplined capital allocation approach across segments and supported by efficient asset rotation HoldCo ▪ No increase in head office personal expenses over the next 3 years ▪ Focused business strategy base off operational ex
Slide 8: Recent events highlights
Recent events highlights On 11 Sep 2021, LPKR launched Cendana Parc Phase II, which is an extension of the seventh affordable landed residential cluster launched in Lippo Village. Demand for product within the A segment remains strong. Out of a total of 724 units offered, 94% were sold within 1 day.
Slide 9: Financial Highlights
Financial Highlights Revenues increased EBITDA grew Net loss lowered by Total cash balance 44% 84% Rp1.8 tr improved to To To To Rp4.9tr Rp10.9tr Rp2.9tr Rp573bn at 9M21 in 9M21 in 9M21 in 9M21 Vs Vs 9M20 Vs 9M20 Vs 9M20 Rp3.9tr At FY20 Quarterly Revenue EBITDA margin Quarterly net loss Net Debt to
Slide 10: Debt to Equity Datapoints
Debt to Equity Datapoints Total Debt(1) 2017 to Present Debt(1) to Equity Ratios 2017 to Present Rp bn (x) 1.10 25,000 1.00 22,660 0.90 0.78 0.70 4,645 0.59 0.58 20,000 0.56 0.52 0.50 0.46 0.46 0.30 0.35 14,621 0.22 15,000 13,638 13,725 0.10 2017 2018 2019 2020 9M21 1,883 12,080 2,186 Debt/Equity Ne
Slide 11: Liquidity continues to stabilise from initiatives such as rental renegotiation
Liquidity continues to stabilise from initiatives such as rental renegotiation that yielded Rp325b of annual savings Historical Net Debt(1) Historical FCCR Rp bn 2.1 2.0 1.9 1.9 20,000 17,768 0.9 1.9 18,000 1.8 0.78 0.8 16,000 1.7 1.6 0.7 12,803 1.6 14,000 1.5 11,100 0.6 1.5 12,000 10,732 0.52 0.5 1
Slide 12: Construction for all of 2019's legacy projects completed
As of Jun 21, construction for all of 2019’s legacy projects have been completed Cost to Completion Construction Progress(1) Percent Complete $230 100% 100.0% 97.9%99.0% $212m 90% 88.9% 81.9% $180m 80% $160m 70% 71.7% 60% 54.2% $110m 50% 42.4% $87m 40% 30% 31.7% $54m 20% $36 $21 10% $0 0% 1Q19 2Q19
Slide 13: Real Estate Business Key Metrics
Real Estate Business Key Metrics Marketing sales Revenue increased EBITDA increased Construction on track increased 26% 67% To for timely completion. 71% To Rp680bn Handover of To Cendana Homes Rp3.0tr in 9M21 reached Rp3.9tr in 9M21 Vs 9M20 with 52% in 9M21 Vs 9M20 39% Vs 9M20 (Rp356bn) in 9M21 com
Slide 14: Commitment to deliver new 2020 projects
Commitment to deliver new 2020 projects Cendana Homes – started construction in 3Q20. As of Sep21 39% of total units have been handed over Target Launched 2020 2Q21 completion Estimated Total construction residential 324 $2 mn costs to units completion % Sold as Total GFA 20,860 sqm per 30 Sep 100%
Slide 15: Commitment to deliver new 2020 projects
Commitment to deliver new 2020 projects Cendana Peak – started construction in 4Q20 Target Launched 2020 3Q21 completion Estimated Total construction residential 328 $5 mn costs to units completion % Sold as Total GFA 22,863 sqm per 30 Sep 100% Road works Jun 21 Cendana Peak Sep 21 2021 SOHO at Fair
Slide 16: Commitment to deliver new 2021 projects
Commitment to deliver new 2021 projects Cendana Icon – started pre-construction progress in 2Q21 Target Launched 2021 2Q22 completion Estimated Total construction residential 809 $28 mn costs to units completion % Sold as 127,308 Total GFA per 30 Sep 83% Cendana Icon Jun 21 Land clearing Sep 21 sqm
Slide 17: Commitment to deliver new 2021 projects
Commitment to deliver new 2021 projects Holland Village Designer Homes Collection – started pre-construction progress in 3Q21 Target Launched 2021 3Q22 completion Estimated Total construction residential 127 $4 mn costs to units completion % Sold as Total GFA 11,978 sqm per 30 Sep 76% Housing comple
Slide 18: Meikarta
Meikarta Construction Status District 1 Sales Pickup 80% Rp bn Units 250 550 70% 224.8 68%68% 500 63% 63% 209.9 60% 60% 200 450 57% 181.3 180.6 400 50% 49% 155.5 138.3 350 150 133.3 133.1 43% 300 40% 250 100 30% 200 28% 69.1 67.1 59.0 150 20% 50 100 14% 10% 11% 50 0 0 0% 1Q19 2Q19 3Q19 4Q19 1Q20 2Q2
Slide 19: Meikarta: Significant progress since 2019, Handovers Commence
Meikarta: Significant progress since 2019, Handovers Commence Jun 2021 Jun 2021 ~58ha of land owned. Currently have ongoing development for two apartment districts. District 1 ▪ Consists of ~13ha ▪ 28 towers, all of which have been topped off as of 30Dec20. ▪ Handover commenced. As of 30Sep21, ~1,37
Slide 20: 9M21 Financial Data
LIPPO 9M21 FINANCIAL DATA
Slide 21: LPKR Financials as of 9M21, Property Business Strengthening
LPKR Financials as of 9M21, Property Business Strengthening Revenue (Rp Bn) EBITDA (Rp Bn) Real Estate Healthcare Malls Others Fund Mgmt. Fund Mgmt. Revenue Real Estate Real Estate EBITDA & Development (Mgmt & Svcs) & Invnt & Investment & Development Mgmt & Services Recurring Income Recurring Income
Slide 22: Stable Improvement in Real Estate and Healthcare Outperformance
Stable Improvement in Real Estate and Healthcare Outperformance More than Offset Declines in Other Areas Revenue EBITDA NPAT (RpBn) (RpBn) (RpBn) - 110 10,952 970 0 Others - 112 2,917 621 LMIR -573 267 Real Others 1,875 272 Estate LMIR Dev. -334 356 9M21 SILO Real 906 Estate Others LMIR Dev. -2,340
Slide 23: Operating Cash Flow Continues to Improve
Operating Cash Flow Continues to Improve from Marketing Sales & Recurring Revenue Historical Operating Cashflow Cash Breakdown (Sept 2021) (RpBn) (RpBn) - 43 (500) 2018 2019 2020 9M21 378 (1,000) -936 (1,500) (2,000) 973 Holdco (incl subs) 2,096 (2,500) -2,373 LMIRT (3,000) SILO (3,500) -3,409 LPCK
Slide 24: Starting to see resolution in existing pipeline projects
Starting to see resolution in existing pipeline projects, while newly launched projects in 2020 are expected to finish on time Completed projects with units ready to be sold Total 9M21 Est. value Total GFA Target FY20 Account FY20 Est. value of 9M21 Account Percentage Project Stake Type residential
Slide 25: Land Bank Reconciliation
Land Bank Reconciliation Comprehensive review of landbank conducted at YE20 based on current market values, detailed breakdown of key landbanks 26
Slide 26: Key Financial Highlights
Key Financial Highlights 9M21 9M20 Change (%) Presales (Rp billion) 3,886 2,276 71% Revenue (Rp billion) 10,951 7,594 44% Recurring Revenue (Rp billion) 7,962 5,225 52% EBITDA (Rp billion) 2,917 1,584 84% EBITDA Margin 26.6% 20.9% N.A. Net Income (Rp billion) (573) (2,340) 76% Interest Coverage Rati
Slide 27: 9M21 Marketing Sales grew by 71% YoY
9M21 Marketing Sales grew by 71% YoY Project Location Old FY21 Revised FY21 9M21 9M21 Units 9M21 Land Marketing Sales Marketing Sales Marketing sold ASP (Rpm Marketing Sales by Location Target (Rp bn) Target (RpBn) Sales (RpBn) per sqm) 2.9% Holdco 2,350 2,850 2,879 4,413 12.1 7.5% Lippo Village Lip
Slide 28: Property marketing sales by structure
Property marketing sales by structure FY21 (in Rp bn) FY17 FY18 FY19 FY20 9M21 Guidance Residential 423 1,336 860 2,027 3,050 3,275 Low Rise 227 1,190 668 1,678 2,528 2,838 High Rise 196 146 192 349 521 437 Commercial 63 19 130 137 230 125 Industrial 78 81 714 291 316 450 Unique Product SDH 138 162
Slide 29: LMIRT business consolidation in 9M21 impact
LMIRT business consolidation in 9M21 impact (Rp Billion Consolidated) ASSETS 9M21 FY20 LIABILITIES & STOCKHOLDERS' EQUITY 9M21 FY20 CURRENT ASSETS CURRENT LIABILITIES Cash & Cash Equivalent 4,892 2,993 Bank Loans 1,586 1,723 Trade Accounts Receivable 2,783 1,882 Lease Liabilities 676 771 Inventories
Slide 30: Debt maturity profile
Debt maturity profile Debt breakdown Debt maturity Profile (as of 9M21) Coupon rate Coupon rate Coupon rate 9% 7.25% pa 8.125% pa 7% pa $ million 700 617.0 600 500 420.0 400 91% 300 250.0 $ debt Rp debt 200 144.2 100 56.3 44.7 18.8 29.6 21.9 0 10% 2021 2022 2023 2024 2025 2026 Rp Loans (Local) Bonds
Slide 31: 9M21 P&L overall gradual business recovery
9M21 P&L overall gradual business recovery P&L Statement (in Rp billion) 3Q21 3Q20 Change % 9M21 9M20 Change % Total Revenues 3,722 2,262 1,461 65% 10,952 7,594 3,357 44% COGS (2,155) (1,055) (1,100) 104% (6,286) (4,271) (2,015) 47% Gross Profit 1,567 1,206 360 30% 4,665 3,323 1,342 40% Operating Ex
Slide 32: High quality revenue profile with recurring income visibility
Business is underpinned by a high quality revenue profile with significant recurring income visibility High proportion of revenue attributable to recurring income streams Recurring vs Development revenue 27 27 % % 76% 24% 73% 27% 76% 24% 73 73 % % (Rp bn) 125 81 213 1,696 1,183 23 1,779 506 339 940
Slide 33: Balance sheet highlights
Balance sheet highlights Total assets (Rp Bn) Total capitalization (Rp Bn) 70,000 50,000 60,000 45,000 19,891 40,000 12,080 50,000 8,746 1,047 8,448 35,000 22,660 10,496 5,369 941 897 14,621 5,601 40,000 30,000 13,725 1,122 4,685 8,787 11,125 5,398 25,000 30,000 1,818 7,731 2,993 4,846 4,088 4,892 2
Slide 34: Key credit metrics
Key credit metrics Net debt / EBITDA (x) EBITDA / Interest (x) (1) 6.1 4.4 5.7 2.3 5.6 5.6 1.8 1.5 2018 2019 2020 9M21 2018 2019 2020 9M21 Net debt / Total assets (%) Net debt / Total equity (%) 28% 78% 26% 21% 52% 46% 13% 22% 2018 2019 2020 9M21 2018 2019 2020 9M21 (1) Include interest arising from
Slide 35: Key Operational Metrics of Recurring Income Assets
Key Operational Metrics of Recurring Income Assets Occupancy Trend Occupancy Trend Occupancy Trend Malls Under Management Network of Hospitals Hotels Under Management 100% 70% 64% 80% 75% 71% 73% 88% 88% 87% 90% 56% 70% 80% 78% 60% 80% 53% 52% 53% 50% 60% 70% 51% 60% 50% 40% 42% 50% 40% 30% 40% 30%
Slide 36: Income statement details
Income statement details Property marketing sales (Rp Bn) Revenue (Rp Bn) 8,000 14,000 125 81 7,000 12,000 213 23 1,696 1,183 6,000 10,000 1,779 506 940 339 1,110 3,500 403 5,000 8,000 7,018 7,110 4,000 6,000 5,965 5,889 3,000 230 4,000 291 2,000 2,000 3,050 3,093 2,975 3,253 2,990 19 714 1,000 2,02
Slide 37: Historical capex spending & land bank purchases
Historical capex spending & land bank purchases Capex Spending (Rp Bn) 12,000 SILO GMTD LPCK LPKR 10,000 1,925 8,000 6,000 1,480 7,011 4,000 2,197 3,699 1,475 2,000 1,598 1,641 1,440 652 1,051 873 844 958 798 726 - 279 477 468 259 297 2015 2016 2017 2018 2019 2020 9M21 Acquisition of Land for Develo
Slide 38: Holdco Hedging Strategy
Holdco Hedging Strategy Hedging BOND 2025 15,000 16,000 17,500 BOND 2026 15,000 16,000 17,500 COUPON 2026* 13,300 15,500 17,000 Hedged Unhedged Amount Lower Strike Upper Strike Description Maturity ($m) (Rp) (Rp) The Company enters into non- Bond 2025 420 15,000 17,500 Jan-25 deliverable USD call sp
Slide 39: Rental Payment to REITS
Rental Payment to REITS Rp Bn ❖ Successful renegotiation of rental lease with FREIT and LPKR is expected to bring 600 in Rp325bn in savings from adjustments to rents. ❖ Fixed base rate increase of 4.5% per annum, and variable rate mechanism of the higher of base rate or 8% of hospital’s GOR. 511 ❖ K
Slide 40: Corporate Governance Initiatives
CORPORATE GOVERNANCE INITIATIVES
Slide 41: Corporate Governance Framework
Corporate Governance Framework MISSION Corporate Risks 1. Land Banking & 2. Real Estate Management & 3. Fund Management Real Estate Development Services Business & Investments ◼ Low Assets Turnover ◼ Profitability ◼ Development Plan ◼ Failed investment ◼ Business Efficiency to ◼ Fund Management ◼ Pr
Slide 42: Bring Value Added to Lippo
Bring Value Added to Lippo @OLIPPO Good Reputation ¢ Maintain ethical standards which provide long term value administration _ * Build investor confidence corporate committees policy & Organization Efficiency “S) ¢ Build qualified Board members ‘ accountable for efficient organization ¢ Stronger cul
Slide 43: Redefining Lippo Karawaci Governance Principles
Redefining Lippo Karawaci Governance Principles 44
Slide 44: Proposed New Governance Principles
Proposed New Governance Principles 45
Slide 45: Lippo Governance Roadmap
Lippo Governance Roadmap @2DLIPPO Creating a Climate for Change Sustain & Institute NOW . a 07 Urgency to Strong Vision & Work Plans Improve — Quick Wins Instill& Embed in Change Team Strategy & Groups Enhance - for Long Manage Culture 46
Slide 46: Subsidiaries (All)
LIPPO SUBSIDIARIES (ALL)
Slide 47: Record Performance from Siloam, Non-Covid Revenue Continues to Improve
Record Performance from Siloam, Non-Covid Revenue Continues to Improve Revenue* increased EBITDA grew Quarterly EBITDA Net Profit booked at Net Cash Position 47% 114% grew IDR533bn increased by to to 62% in 9M21 IDR270bn yoy IDR5.9tn IDR1.7tn to in 9M21 in 9M21 vs 9M20 IDR609bn Quarterly Net Profit
Slide 48: Siloam Hospitals are Well Equipped to both Treat and Recover from Covid
Siloam Hospitals are Well Equipped to both Treat and Recover from Covid 3Q21 Corporate Presentation | 50 49
Slide 49: Continued Growth of Corporate and Insurance Business
Continued Growth of Corporate and Insurance Business *Revenue from COVID reimbursement is labelled ’Ministry of Health (MoH)’ 3Q21 Corporate Presentation | 50
Slide 50: Siloam Continues to Lead in HealthTech Initiatives
Siloam Continues to Lead in HealthTech Initiatives Siloam has continued to make strategic investment in health technology platform. Below are some current capabilities with many more in development: MySiloam: Aido: Prixa: • One stop portal for patients • Teleconsultation and homecare • Leverages AI
Slide 51: Lippo Cikarang Balance Sheet and Marketing Sales
Lippo Cikarang Balance Sheet and Marketing Sales Balance Sheet (Rp Billion) FY17 FY18 FY19 FY20 9M21 Assets 11,267 9,226 12,219 9,720 9,528 Debt 249 - 200 977 925 Liability 4,734 1,696 1,337 3,140 2,772 Equity 6,533 7,530 10,882 6,579 6,756 Return on Assets (%) -7.3% 21.3% 2.5% -37.6% 4.8% Return on
Slide 52: Lippo Cikarang summary income statement
Lippo Cikarang summary income statement Revenue (Rp Bn) EBITDA (Rp Bn) 2,500 1,200 2,210 985 1,000 2,000 1,844 800 606 1,695 600 496 1,545 445 1,501 313 1,500 400 1,181 200 1,000 - (200) 2016 2017 2018 2019 2020 9M21 500 (400) (600) - (800) (768) 2016 2017 2018 2019 2020 9M21 (1,000) Marketing Sales
Slide 53: Lippo Malls
Lippo Malls Dominant position in retail development & property management, through management of 55 malls throughout Indonesia ▪ 3.5 million sqm GFA ▪ As of September 30, 2021 : Overall average occupancy 77.5% and 82.3% in LMIRT properties Stricter social restriction in Jun 2021 resulted in lower fo
Slide 54: Lippo Malls – Existing Network across Indonesia
Lippo Malls- Existing Network across Indonesia Existing Network Sumatra Kalimantan Sulawesi Area : 655,535 sqm Area : 24,852 sqm Area : 153,815 sqm NLA* : 306,924 sqm NLA* : 17,684 sqm NLA* : 82,814 sqm Occupancy : 83% Occupancy : 79% Occupancy : 69% ARR* (‘000) : Rp 60/sqm/mo ARR* (‘000) : Rp 79/sq
Slide 55: Aryaduta Hotels – gradual business resumption
Aryaduta Hotels – gradual business resumption since July 20 have helped support occupancy rates in our hotels Aryaduta Hotel Aryaduta Hotel Imperial Aryaduta Aryaduta Hotel Aryaduta Hotel Aryaduta Hotel Jakarta Pekanbaru* Hotel & Country Club, LK* Medan Manado Kuta Bali Occupancy rate 43.8% 46.3% 83
Slide 56: Hotels – Severely impacted by Covid-19 Pandemic
Hotels – Severely impacted by Covid-19 Pandemic Tourism industry is a key priority of the Government and benefits from favourable initiative Average room rate(1) Number of Rooms 2017 – 1Q21 2017 – 1Q21 IDR ‘000 per room per day 2,200 800 2,144 2,144 2,144 686 2,150 700 656 566 2,100 600 2,056 500 45
Slide 57: Lippo Malls REIT – Manages 22 retail malls and 7 retail spaces
Lippo Malls REIT – Manages 22 retail malls and 7 retail spaces S$ Millions 3Q21 3Q20 Y-O-Y FY19 FY18 Y-O-Y Gross Rental Income (GRI) 17.7 15.3 16.2% 155.3 155.2 0.1% Total Gross Revenue 30.9 28.9 7.0% 273.0 230.3 18.5% Net Property Income (NPI) 17.3 13.1 31.5% 176.2 165.0 6.8% Distributable Income t
Slide 58: Meikarta
LIPPO MEIKARTA
Slide 59: Strategic region for growth
Strategic region for growth – In between 2 of Indonesia’s largest cities (Jakarta & Bandung); West Java is Indonesia’s most populous province SURROUNDED BY FORTUNE 500 COMPANIES ▪ 4.000 MULTINATIONAL COMPANIES ▪ 1 MILLION CAR PRODUCTION / YEAR ▪ 10 MILLION MOTORCYCLES PRODUCTION / YEAR ▪ 12.000 EXPA
Slide 60: New infrastructure underway increasing accessibility to Industrial Estates
New infrastructure underway increasing accessibility to Industrial Estates, Future driver of FDI KERTAJATI INTERNATIONAL AIRPORT PATIMBAN DEEP SEAPORT Estimated cost: Rp 25.4 Tn. Estimated cost: Rp 40.0 Tn. Estimated completion: Already Operational Estimated completion: End of 2021 (Partial) ELEVATE
Slide 61: Corporate Data
LIPPO CORPORATE DATA
Slide 62: 9M21 Shareholder Structure
9M21 Shareholder Structure Lippo Related Companies Public < 5% 58.2% 41.8% No of Floating Shares : 70,829,181,669 (excl. Treasury Shares) 55.4% 84.0% 62.7% 100.0% 100.0% Title Two PT Gowa Makassar Title Four Title Three PT Asiatic Sejahtera PT Siloam International PT Bowsprit Asset PT Lippo Cikarang
Slide 63: Notes Outstanding
Notes Outstanding Theta Capital Pte. Ltd Theta Capital Pte. Ltd Theta Capital Pte. Ltd $95m $417m $325m 8.125% Senior Notes 6.75% Senior Notes 8.125% Senior Notes Reg S Reg S Reg S Due 2025 Due 2026 Due 2025 February 2020 October 2016 January 2020 D C CC CCC- CCC CCC+ B- B B+ BB- BB BB+ BBB- BBB BBB
Slide 64: New leadership team focused on corp. governance and transparency
New leadership team focused on corp. governance and transparency Board of Commissioners provides adequate representation to minority shareholders John A Prasetio Anangga W. Kartini Sjahrir George Raymond Kin Chan Anand Kumar Independent President Roosdiono Independent Zage III Commissioner Commissio
Slide 65: Appendix
LIPPO APPENDIX
Slide 66: The Lippo Group operates across multiple industries
The Lippo Group operates across multiple industries Regional Presence in China, Hong Kong, Japan, Singapore, Korea, and Macau Indonesia CORE INVESTMENT FOUNDATION Property Healthcare Retail & Financial TMT Education 68
Slide 67: Nationwide presence across Indonesia creates network effect
Nationwide presence across Indonesia creates network effect Business segment Growth metrics Cummulative Marketing Sales Sumatra Kalimantan Sulawesi(4) (Rp Bn)1) 24,479 5 12 2 1 1 4 Property 5.9x Development 3 4 2 4,115 2013 9M21 # of malls under management 55 Kalimantan 34 1.6X Sumatra Lifestyle Mal
Slide 68: Real Estate Development
Real Estate Development Lippo Village – in Karawaci, West of Jakarta Dev. Rights 3,226 ha Acq. Land Jobs 48,734 1,418 ha Landbank 344 ha (Net) Houses 10,593 Roads Built 113.5 km Condos 5,686 Shophouses 1,193 Trees 58,199 planted Population 59,519 Lippo Cikarang– East of Jakarta Dev. Rights Existing
Slide 69: Real Estate Development
Real Estate Development Tanjung Bunga– Makassar, South Sulawesi Dev. Rights 1,500 ha Acq. Land Jobs 14,724 659 ha Landbank 254 ha (Net) Roads Built 26.7 km Houses 7,075 Shophouses 199 Trees 13,199 planted Population 21,030 San Diego Hills Memorial Park & Funeral Homes Master Plan 500 ha Acq. Land 12
Slide 70: Regulations becoming more conducive to growth
Regulations becoming more conducive to growth LTV relaxation in Feb21*: * Assuming all banks are NPL compliant with NPL ratio below 5% New Old Property Type Second and Second and First First subsequent subsequent Residential (landed > 70sqm 100% 100% - 85% and high rise) 21-70sqm - 90% < 21sqm - - S
Slide 71: Foreign ownership remains a challenge but expected to relax in 2021
Foreign ownership remains to be a challenge in 2020 but is expected to show relaxation in 2021 72
Slide 72: Overview of Jakarta's Condominium market
Overview of Jakarta’s Condominium market Condominium Market Overview Units Sold on the Market Total Units on the Market Sales Rate 1H21 SALES RATE BY GRADE 80,000 80% Proposed Unit Sold Sales Rate 75% 70,000 72% 30,000 100% 71% 60,000 67% 70% 25,000 80% Units 64% 67% Units 50,000 63% 63% 62% 64% 61%
Slide 73: Overview of Jakarta's shopping mall & CBD office market
Overview of Jakarta’s shopping mall & CBD office market Retail Market Overview NET ABSORPTION, NEW SUPPLY AND OCCUPANCY RENTAL RATES 300,000 100% 250,000 95% 200,000 90% 85% 150,000 Sqm 80% 100,000 75% 50,000 70% 0 65% FY21 FY22 FY24 FY25 FY23 -50,000 60% Net demand New Supply Occupancy rate CBD Off
Slide 74: Looking Ahead
LIPPO LOOKING AHEAD
Slide 75: Macro Environment & Outlook Trending Positive
Macro Environment & Outlook Trending Positive Indonesia’s macro environment remains accommodative with low interest rates, a stable currency, increased mobility, and strong commodity prices. Bank Indonesia has been less aggressive than EM peers in cutting interest rates and this has created an attra
Slide 76: Allowing Marketing Sales Momentum to be Maintained
Allowing Marketing Sales Momentum to be Maintained o Keep the momentum by launching affordable homes in Karawaci, Cikarang and Makassar o Upward revision of Marketing Sales to Rp4.2tn, with 60% coming from the Holdco o Excited to see our Core Development Business turnaround (i.e. Marketing Sales). I
Slide 77: 99% Drop in Covid Cases Provides Growth Opportunity
99% Drop in Covid Cases Provides Growth Opportunity for all Business Segments including HealthCare that is Benefiting from the Continual Recovery of Non-Covid Services ▪ By Sep, all malls had reopened with restrictions. Hence, the impact of this year’s lockdown was more short-lived compared to the l
Slide 78: Siloam will Benefit from the Clean Hospital Strategy
Siloam in particular will Benefit from the Clean Hospital Strategy as Covid Cases Decline Base Case Revenue per Month (2021) Average base case 2019 Jan Feb Mar Apr May Jun Jul Aug Sep 79
Slide 79: Continual Focus on Improving Liquidity, Operational Excellence, and ESG
Continual Focus on Improving Liquidity, Operational Excellence, and ESG o Preserving Cash by continuing to strengthen cash collections across our businesses and manage construction costs diligently. On track to achieve our commitment of positive operating cash flow in 2022 without one-off divestment
Slide 80: LPKR's trading performance
LPKR’s trading performance LPKR historical Price / NAV per share post global financial crisis Rp 1,600 1,400 1,200 1,000 800 600 400 200 - 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Rolling BVPS Closing price 0.95 (x) 0.71 Average : 0.55 0.44 0.41 0.23 Source: Market data extracted
Slide 81: Notes:
Notes:
Slide 82: Notes:
Notes:
Slide 83: Investor Relations
Investor Relations Bret Ginesky Head of Investor Relations : [email protected] : +62 21 25669078 : www.lippokarawaci.co.id