PT Lippo Karawaci Tbk · IDX:LPKR
PT Lippo Karawaci Tbk — Q1 2024 Earnings Presentation
66 slides from PT Lippo Karawaci Tbk's earnings presentation, Apr 30, 2024
Slide 1: PT Lippo Karawaci Tbk 1Q24 Corporate Presentation
PT Lippo Karawaci Tbk 1Q24 Corporate Presentation 30 April 2024
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 uncertai
Slide 3: Introduction and Background
INTRODUCTION AND BACKGROUND
Slide 4: Our Values
Our Values Mission Values AGILITY 1 To win the hearts and minds of our customers through quality homes, ▪ Thrive in dynamic environments and anticipate change. healthcare and lifestyle offerings, as ▪ Innovate and capitalize on new opportunities. well as people-centric services. Vision CUSTOMER FOCU
Slide 5: Our Company
Our Company Leader in Integrated Real Estate and Healthcare – Widespread presence in 56 cities and 26 provinces Scale, Integration and Financial Discipline: across Indonesia #1 by Total Revenue: IDR 4.6tn in 1Q24 Revenue breakdown: 66% Healthcare, 28% Real #1 by Recurring Revenue: IDR 3.31tn in 1Q24
Slide 6: 1Q24 Key Highlights
1Q24 Key Highlights LPKR maintains operational improvement by achieving 133% YoY increase in Underlying NPAT to IDR 200bn in 1Q24, supported by 21% YoY Revenue growth to IDR 4.61tn and 35% YoY Underlying EBITDA growth to IDR 1.19tn. Real Estate Healthcare Lifestyle ▪ 1Q24 Revenue and EBITDA booked a
Slide 7: 1Q24 Financial Update
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Slide 8: Revenue and Underlying EBITDA increased by 21% and 35% respectively
Revenue and Underlying EBITDA increased by 21% and 35% respectively Revenue Underlying EBITDA1 (in IDR bn) (in IDR bn) +11% +10% -0.3% +21% +22% +13% +0.8% 0% +35% 373 (11) -0 4,607 113 7 0 1,187 431 190 3,814 877 1Q23 Real Estate Healthcare Lifestyle Holdco 1Q24 1Q23 Real Estate Healthcare¹ Lifesty
Slide 9: Strong increase in Underlying NPAT to IDR 200bn
Strong increase in Underlying NPAT to IDR 200bn from 21% revenue, 21% gross profit and 35% Underlying EBITDA growth. Revenue Underlying EBITDA1 (in IDR bn) (in IDR bn) +18% +40% +21% +35% 4,607 1,187 3,814 3,336 877 608 1Q22 1Q23 1Q24 1Q22 1Q23 1Q24 Gross profit NPAT (in IDR bn) (in IDR bn) +18% -11
Slide 10: Siloam's strategic review prompted final write-down of pipeline hospitals
Siloam's strategic review prompted a final write-down of pre-2019 pipeline hospitals, resulting in a -IDR 309bn impairment and a 1Q24 NPAT of -IDR 179bn Consolidated Underlying EBITDA to NPAT EBITDA by segment Var (YoY) Var (QoQ) (in IDR bn) In IDR bn 1Q24 1Q23 1Q24 4Q23 Healthcare1 IDR % IDR % Reve
Slide 11: Continuous operational improvements driving Underlying NPAT expansion
Continuous operational improvements across all business units are driving an expansion in both Underlying NPAT amount and margin. Consolidated Underlying EBITDA to NPAT (1Q24 vs 1Q23) EBITDA by segment (in IDR bn) 1Q24 1Q23 Var (YoY) in IDR bn Healthcare1 Real Real Hospital Lifestyle Holdco Total Ho
Slide 12: Improved operating cash flow
Improved business performance resulted in positive improvement of operating cash flow Cashflow movement (1Q24) Remarks (in IDR bn) ▪ Operating Cash Flow reflected a Operating Investing Financing significant increase from IDR 2,650 2,622 154bn in 1Q23 to IDR 1,031bn in 1Q24, mainly driven by the 1,03
Slide 13: Liability Management
Liability Management 2025 Bonds | Principal Outstanding Refinancing Facility (in USD mn) 420 Type of facility : Syndicated Loan Transactions Facility type : Term loan facility in IDR (183) 237 Amount : IDR 5.25tn Interest : BI 7DRR + 2.25% margin p.a. Term : 84 months Collateral : land and building
Slide 14: Improved Debt Profile from Liability Management
Improved Debt Profile from earlier Liability Management initiative Debt breakdown Debt maturity Profile (in IDR bn) USD debt (bonds) IDR debt (bank loans) 3,656 USD debt (bonds) 3,001 48% 52% IDR debt (bank loans) 529 604 722 352 460 2024 2025 2026 2027 2028 Historical Net Debt1 Currency Protection
Slide 15: Segment 1: Real Estate Overview
SEGMENT 1: REAL ESTATE OVERVIEW
Slide 16: Real Estate Business Highlights
Real Estate Business Highlights Property Marketing sales New projects in Financial Key takeaways and development performance 1Q24 performance going forward projects sold in 1Q24 Landed residential: ▪ LPKR achieved Lippo Cikarang: ▪ Real Estate 1Q24 ▪ We continue to 48 projects 1Q24 marketing 1) XYZ
Slide 17: 1Q24 Marketing Sales achieved IDR 1.5tn
1Q24 Marketing Sales achieved IDR 1.5tn, reaching 28% of FY24 marketing sales primarily driven by the continuous sales of Park Serpong and the introduction of new Lippo Cikarang concept named Lippo Cikarang Cosmopolis Historical marketing sales (in IDR bn) Land bank ▪ ~1,000 hectares of land bank in
Slide 18: 1Q24 Marketing Sales Highlights
1Q24 Marketing Sales Highlights 1Q24 Marketing sales breakdown in Lippo Karawaci 1Q24 Marketing sales breakdown in Lippo Cikarang Marketing sales in Lippo Karawaci were mainly driven by landed housing, Marketing sales in Lippo Cikarang were mainly driven by landed housing, accounting for 80% of the
Slide 19: 1Q24 Project Handover Highlights
1Q24 Project Handover Highlights Real Estate’s 1Q24 revenue improved by 50% YoY to IDR 1.30tn, mainly driven by timely handover of landed housing and shophouses. Cendana 82 units – Cendana 61 units – Brava 2 units – Gard’n 80% Essence 27% Himalaya 94% completed Site A completed completed 102 units 2
Slide 20: New Project Development Highlights
New Project Development Highlights In 1Q24, We introduced the new concept of Lippo Cikarang named Lippo Cikarang Cosmopolis, which focuses on residentials and commercials. About Lippo Cikarang Cosmopolis Product Focused: XYZ Livin ▪ Easily accessible, such as: Three product types available: - Direct
Slide 21: Product Focus: Landed housing (Cendana and The Colony Series)
Product Focus: Landed housing (Cendana and The Colony Series) Cendana Series (First-Home Owners) The Colony Series (Exquisite Designer Homes) Cluster name : Cendana Gard’n Vista Serene Cluster name : The Colony @ Himalaya Handover period : 18 months + 6 months grace period Handover period : 18 month
Slide 22: Product Focus: Commercial shophouse (The Hive Series)
Product Focus: Commercial shophouse (The Hive Series) The Hive Series @ Lippo Cikarang The Hive Series @Lippo Village Cluster name : The Hive @Cosmo Cluster name : The Hive @ Essence Handover period : 15 months + 6 months grace period Handover period : 18 months + 6 months grace period Typical size
Slide 23: Product Focus: Park Serpong
Product Focus: Park Serpong 23
Slide 24: Product Focus: Park Serpong
Product Focus: Park Serpong Park Serpong phase 2 launching was held on 27 April 2024 where the new Q series was launched. There was strong turn out for the day and with 81% take up rate. 24
Slide 25: Product Focus: Park Serpong
Product Focus: Park Serpong Located in the centre of Serpong – West of Jakarta, with 5 different districts concept and surrounds with public facilities and sustainable infrastructure Concept Location Facilities & Sustainable Infrastructure EV Charging Station Water Treatment Plant Recycling Unit Bic
Slide 26: Park Serpong Landed Housing (XYZ Series)
Product Focus: Park Serpong Landed Housing (XYZ Series) Type X Type Y Type Z Handover Period: 18 months + 6 months grace Handover Period: 18 months + 6 months grace Handover Period: 18 months + 6 months grace period period period Typical size and Starting Price: Typical size and Starting Price: Typi
Slide 27: Park Serpong Landed Housing (Q Livin Series)
Product Focus: Park Serpong Landed Housing (Q Livin Series) Q10 Q11 Q20 Q21 Handover Period: 18 months + 6 months Handover Period: 18 months + 6 months Handover Period: 18 months + 6 months Handover Period: 18 months + 6 months grace period grace period grace period grace period Typical size and Sta
Slide 28: Park Serpong Cendana and The Hive Series
Product Focus: Park Serpong Landed Housing (Cendana) and Shophouses (The Hive Series) Cendana Series The Hive Series Handover Period: 18 months + 6 months grace period Handover Period: 18 months + 6 months grace period Typical size and Starting Price: Typical size and Starting Price: ▪ 60 m2 land /
Slide 29: Segment 2: Healthcare Overview
SEGMENT 2: HEALTHCARE OVERVIEW
Slide 30: Siloam revenue, EBITDA and net profit trends
Siloam closed the year with double digit growth bottom line Revenue¹ (in IDR bn) Revenue¹ Underlying EBITDA2 Annual Revenue Quarterly Revenue IDR2.34tn IDR706bn 7.4% in 1Q24 in 1Q24 7,637 8,663 3.7% 7,393 5,262 5,758 14.4% 17.2% 1,747 1,685 1,951 2,010 2,047 2,040 2,287 2,289 2,341 in 1Q24 vs 1Q23 i
Slide 31: Non-Cash Write Off / Provision of IDR 309 bn
Non-Cash Write Off / Provision of IDR 309 bn • In 2019, Siloam’s management reviewed the list of pipeline hospitals in development and wrote off a substantial number as part of its renewed strategy to reduce the pace of expansion. Following this exercise, there remained a number of pipeline hospital
Slide 32: Industry leading revenue intensity from high complexity clinical programs
Maintained an industry leading revenue intensity driven by high complexity clinical programs Average Revenue per Occupied Beds (in IDR bn) Average Revenue per Occupied Beds (in IDR bn) +10.7% Hospital A Hospital B 3.8 3.3 3.3 1.9 1.9 3.0 2.2 1.3 1.2 0.8 0.8 2019 2020 2021 2022 2023 1Q23 1Q24 2022 20
Slide 33: Stable and sustained growth in all operational metrics
Stable and sustained growth in all operational metrics Quarterly Results YTD 80,230 79,272 82,840 +16.2% 65,908 67,995 71,316 71,645 55,704 71,316 82,840 49,608 51,235 Inpatient Admissions 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 1Q23 1Q24 3.5 3.5 3.4 3.3 3.3 +15.6% 3.2 3.2 3.1 3.1 3.1 3.2
Slide 34: Continual drive to improve margins quarter on quarter
Continual drive to improve margins quarter on quarter Drugs & clinical supplies (IDR bn, % to Revenue) Operating expenses (IDR bn, % to Revenue) 35.1% 36.1% 33.0% 31.8% 31.9% 30.2% 30.7% 30.7% 31.5% 29.8% 29.2% 29.0% 28.6% 28.5% 29.5% 28.8% 28.0% 28.4% 28.4% 28.0% 651 641 665 731 581 587 594 584 634
Slide 35: Private Payer Group continue to become majority of total revenue
Private Payer Group continue to become majority of total revenue % Contribution to Revenue 1Q23 vs 1Q24 Private (OPE, Corp + Insurance) BPJS 17.0% 18.00% Private patients’ (OPE, Corporate & Insurance) 82.00% revenue contribution maintained above 80% of total 82.9% Revenue 1Q23 1Q24 Payee Group Contr
Slide 36: Sustained Growth from High Complexity Clinical Programs
Sustained Growth from High Complexity Clinical Programs (Cardiology, Oncology, Neurology, Gastro, Orthopedics) C.O.N.G.O Throughput (‘000) 100 84 80 77 81 83 82 80 68 74 73 66 57 60 45 50 49 49 36 40 42 40 31 32 20 11 10 10 11 11 0 1Q23 2Q23 3Q23 4Q23 1Q24 1Q23 2Q23 3Q23 4Q23 1Q24 1Q23 2Q23 3Q23 4Q2
Slide 37: Siloam Hospitals Kebon Jeruk New Woman & Children Facilities
Siloam Hospitals Kebon Jeruk New Woman & Children Facilities Waiting Room Obgyn Clinic Kids Dental Pediatric 37
Slide 38: MRCCC New Lobby Design and VIP Room
MRCCC New Lobby Design and VIP Room Main Lobby Waiting Area VIP Room VIP Room 38
Slide 39: New Oncology Center and Renovated Waiting Area
New Oncology Center at Siloam Hospitals Lippo Village and Siloam Hospitals Denpasar Renovated Waiting Area Lippo Village New Oncology Center Siloam Hospitals Denpasar Executive OPD Clinic 39
Slide 40: Siloam's achievements in digital transformation
Siloam’s achievements in digital transformation Enhancing patient’s experience to be more seamless Digitized Patient Voice Patient Booking Channels Resolved 86% ▪ Seamless lab and radiology booking complaints in 24 263,453 experience through MySiloam apps and hours Outpatient bookings website with S
Slide 41: Segment 3: Lifestyle Overview
SEGMENT 3: LIFESTYLE OVERVIEW
Slide 42: Lippo Mall Indonesia: Largest mall developer and operator
Lippo Mall Indonesia: The largest mall developer and operator in Indonesia About LMI Leading player in the number of malls operated ▪ Lippo Mall Indonesia is the largest mall developer and operator in 59 Indonesia with 59 managed malls nationwide across 39 cities in 60 Indonesia. The company has the
Slide 43: Malls business stable with 22% increase in EBITDA
Malls business remained stable YoY with 22% increase in EBITDA to IDR 38bn. Malls Revenue1 Malls EBITDA1 (in IDR bn) (in IDR bn) 22% 27% -10% 157 141 +22% 34 38 1Q23 1Q24 1Q23 1Q24 Consistent YoY growth of malls visitors2 Stable malls occupancy rate2 (Average monthly visitors; in mn visitors) +10% -
Slide 44: Various attractive events to attract mall visitors
Various attractive event held to attract visitors, which reflect on our malls visitors growth New Year Eve Chinese New Year Ramadhan Event Starry Night The Orient Odyssey Wonderful Ramadhan ▪ Performance by Tiara Andini (Indonesian ▪ World Champion Barongsai Tonggak by ▪ Midsummer night sales (Disc.
Slide 45: Hotels: Premium hotel player under Aryaduta brand
Hotels: A prominent player in the premium hotel sector under the Aryaduta brand About Aryaduta Strategically located in top cities in Indonesia ▪ Aryaduta Hotels is a Jakarta Bali Bandung heritage luxury hotel chain located strategically in 9 top cities across Indonesia. ▪ Known as "Iconically Aryad
Slide 46: Hotels: Stable growth of operational metrics
Hotels: Stable growth of hotels operational metric which reflects on 8% YoY revenue growth and 11% YoY EBITDA growth Hotels revenue¹ Hotels EBITDA¹ (in IDR bn) (in IDR bn) 36% 37% +8% 98 106 +11% 35 39 1Q23 1Q24 1Q23 1Q24 Hotels occupancy Average room rates (in IDR) +7% -8% 63% 556,924 596,016 58% 1
Slide 47: Various promotions and events in Aryaduta Hotels
Various promotions and event held in Aryaduta Hotels Launching of Tjakap Djiwa Ramadhan Events Breakfasting Feast Tjakap Djiwa Ramadhan Kareem Promotions Breaking Fast Buffet ▪ A program which focuses on welfare and ▪ One night-stay at one-bedroom suites ▪ Breaking fast with a buffet with Betawi hea
Slide 48: Sustainability
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Slide 49: Sustainability Strategy
Sustainability Strategy ESG Approach ESG Priorities • Fully committed to integrating sustainability in business Environment Social Governance strategy, operations, and governance structure, in line with global best practices Decarbonization roadmap Accessible and affordable Climate risks and and GHG
Slide 50: Sustainability Framework & Governance
Sustainability Framework & Governance SUSTAINABILITY FRAMEWORK SUSTAINABILITY GOVERNANCE VISION Advancing the Well-Being of Indonesians at Every Stage of Life Enhancing Caring for Investing in Our Championing Quality of Life Our Environment People Best Practices Drive sustainable economic Improve re
Slide 51: 2023 Sustainability Agenda
2023 Sustainability Agenda ENHANCING QUALITY OF LIFE CARING FOR OUR ENVIRONMENT INVESTING IN OUR PEOPLE CHAMPIONING BEST PRACTICES AFFORDABLE HOUSING OPERATIONAL EMISSIONS OCCUPATIONAL HEALTH & SAFETY BUSINESS ETHICS 2030 TARGET 2023 PERFORMANCE 2023 PERFORMANCE 2030 TARGET 2023 PERFORMANCE 2030 TAR
Slide 52: 2023 Performance Highlights
2023 Performance Highlights Enhancing Quality of Life Caring For Our Environment Investing In Our People Championing Best Practices >185 million people served 2 New Green Buildings 40% Socialization for in 26 provinces across Indonesia EDGE Certification for Lippo Mall Puri & Female senior executive
Slide 53: Community Engagement Framework
Community Engagement Framework Lippo untuk Indonesia PASTI (Pintar, Asri, Sejahtera, Tangguh, Independen) embodies the firm and bold spirit that drives our holistic advancement of Indonesia’s sustainability agenda. We are committed to enhancing our quality of life for all stakeholders in our ecosyste
Slide 54: Green Building Certification
Green Building Certification Two of our biggest malls were awarded EDGE green building certification for sustainable design and resource efficiency Sun Plaza Medan 24% energy savings 35% water savings Rp 8.5Bio utility cost savings per year Lippo Mall Puri 21% energy savings 31% water savings Rp 9Bi
Slide 55: Looking Ahead
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Slide 56: Looking Ahead
Looking Ahead Real Estate Healthcare Lifestyle ▪ We have seen stable Malls’ occupancy rate ▪ We continue to offer unique products such ▪ The Company’s strategy to focus on at 79.5% with +10% YoY improvement as the XYZ and Q Livin series to provide increased complexity and diversity of averaging 10 m
Slide 57: Appendices
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Slide 58: Consolidated Statutory Statement of Profit and Loss
Consolidated Statutory Statement of Profit and Loss P&L Highlights (in IDR bn) 1Q24 1Q23 YoY Changes Total Revenues 4,607 3,815 21% COGS (2,646) (2,204) 20% Gross Profit 1,961 1,611 22% Operating Expenses (1,082) (1,031) -5% Operating Profit 879 580 52% Other Income & Expenses - Net (314) 1,312 -124
Slide 59: Consolidated Statutory Statement of Financial Position
Consolidated Statutory Statement of Financial Position Balance Sheet Highlights (in IDR bn) 1Q24 1Q23 1Q24 1Q23 ASSETS LIABILITIES & EQUITY CURRENT ASSETS CURRENT LIABILITIES Cash & Cash Equivalent 2,622 2,650 Bank Loans 2,456 2,787 Trade Accounts Receivable 2,166 1,934 Lease Liabilities 628 575 Inv
Slide 60: Consolidated Statutory Statement of Cash Flow
Consolidated Statutory Statement of Cash Flow Cash Flow Highlights (in IDR bn) 1Q24 1Q23 YoY Changes Cash at beginning 2,650 2,626 1% Cash from operating activitites: 1,031 154 -568% Business operations 1,151 108 966% Placement for restricted funds (121) 46 -363% Cash from investing activities: (371
Slide 61: Cash breakdown
Cash breakdown Cash breakdown – Mar 2024 Cash breakdown – Dec 2023 19 206 248 (1%) (9%) (8%) 13 (0%) 1,245 1,372 (47%) 983 (52%) (37%) 1,186 (45%) Consolidated cash: IDR 2,622bn Consolidated cash: IDR 2,650bn Holdco (incld. Subs) LPCK Holdco (incld. Subs) LPCK SILO GMTD SILO GMTD 61
Slide 62: Financial Results (1Q24 vs 1Q23)
Financial Results (1Q24 vs 1Q23) 1Q24 1Q23 Real Estate Healthcare Lifestyle Holdco Total Particulars Real Estate Healthcare Lifestyle Holdco Total Real Estate Healthcare Lifestyle Holdco Total Rp % Rp % Rp % Rp % Rp % Revenue 1,296 3,027 285 4,607 864 2,654 296 - 3,814 431 50% 373 14% (11) -4% - - 7
Slide 63: Financial Results (1Q24 vs 4Q23)
Financial Results (1Q24 vs 4Q23) 1Q24 4Q23 Real Estate Healthcare Lifestyle HoldCo Total Particulars Real Estate Healthcare Lifestyle Holdco Total Real Estate Healthcare Lifestyle Holdco Total Rp % Rp % Rp % Rp % Rp % Revenue 1,296 3,027 285 - 4,607 1,267 2,945 346 - 4,558 28 2% 82 3% (61) -18% - 49
Slide 64: Thank You
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Slide 65: Notes
@2LIPPO Notes 65
Slide 66: Investor Relations
INVESTOR RELATIONS PT LIPPO KARAWACI TBK Head of Investor Relations Dr. Randi Bayu Prathama Email: [email protected] Mobile: +62811225873 Deputy Head of Investor Relations Indra Agina Sinuraya Email: [email protected] Mobile: +6281310008957 66