PT Lippo Karawaci Tbk · IDX:LPKR
PT Lippo Karawaci Tbk — 9M22 Earnings Presentation
54 slides from PT Lippo Karawaci Tbk's earnings presentation, Nov 3, 2022
Slide 1: PT Lippo Karawaci Tbk 9M22 Corporate Presentation
PT Lippo Karawaci Tbk 9M22 Corporate Presentation 3 November 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 win the hearts and minds of To be a leading real estate our customers through quality and healthcare company homes, healthcare and lifestyle in Asia, committed to offerings, as well as people- advancing the well-being VISION centric services of those we serv
Slide 5: Key Investment Highlights
Key Investment Highlights 1 Large landbank and strong growth in marketing sales that is expected to remain elevated in coming years, generating Real estate Healthcare positive cashflow 26% 66% 2 Controlling stake in the largest hospital T Strong management operator in Indonesia with over 41 team wit
Slide 6: Business Operational Area
Business Operational Area As of 30 September 2022 Townships Hospitals Malls Lippo Village: 328 ha landbank Total hospitals: 41 Total managed malls: 59 Lippo Cikarang: 611 ha landbank Locations: 30 cities Locations: 32 cities Tanjung Bunga: 254 ha landbank Doctors: 3,445 GFA: 3.5 million m2 Nurses &
Slide 7: 9M22 Executive Summary
LIPPO 9M22 EXECUTIVE SUMMARY
Slide 8: Executive Summary
Executive Summary Stable 9M22 LPKR revenue posted at IDR 10.54tn. SEGMENT 1: REAL ESTATE 9M22 marketing sales of IDR 3.5tn Successful on-time delivery of 282 FY22 marketing sales to end with total 4,161 unit sold, made up units of Cendana Peak cluster that between IDR 4.8tn to IDR 5.2tn 68% of the F
Slide 9: Financial Update
LIPPO FINANCIAL UPDATE
Slide 10: Stable YoY Improvement After Accounting for Exceptional Covid Gain for Healthcare
Stable YoY Improvement After Accounting for the Exceptional Covid Gain for Healthcare in 2021 Revenue EBITDA (in IDR bn) (in IDR bn) +18% +12% 11,338 2,489 10,544 1,988 7,594 1,584 9M20 9M21* 9M22 9M20 9M21* 9M22 Gross Profit NPAT (in IDR bn) (in IDR bn) +17% 4,928 (1,057) 4,558 (1,135) (1,241) (1,1
Slide 11: Stable QoQ Performance; Real Estate Impacted by Timing and Mix of Handover
Stable QoQ Performance. Real Estate Negatively Impacted by Timing & Mix of Handover, but Countered by Stronger Healthcare Performance Revenue EBITDA (in IDR Bn) (in IDR Bn) -2.5% +9.6% +0.1% +7.3% -29.7% +28.9% +4.7% +3.8% 333 5 3,730 678 32 704 3,478 196 (86) (202) 2Q22 Real Estate Healthcare Lifes
Slide 12: Underlying NPAT Improved; 9M22 NPAT Decreased Due to Unrealised FX Losses
Underlying NPAT Improved From 2021 to 2022. 9M22 NPAT Decreased by IDR766bn due to Unrealised FX Losses, Capped by Hedges Var Var In IDR bns 3Q22 3Q21 9M22 9M21¹ Rp % Rp % EBITDA 704 890 (186) -21.0% 1,988 2,489 (501) -20.1% EBITDA margin 18.9% 22.5% 18.9% 22.0% Interests (310) (329) 18 -5.4% (866)
Slide 13: Cash Flow from Business Operations Improved Compared to 3Q21
CF 3Q22 from Business Operations Improved by c. IDR 1.3tn Compared to 3Q21 as a Result of Improved Collection and Marketing Sales Cashflow movement (Sep 2022) (in IDR bn) Remarks 4,888 ▪ The Company’s cash flow from business operations have improved substantially by 99.1% YoY and is close to break e
Slide 14: Debt and USD/IDR Hedging
Debt and USD/IDR Hedging Debt breakdown Debt maturity Profile (in USD mn) 405.0 417.0 17% 102.0 83% 2.6 12.5 11.1 2.0 2022 2023 2024 2025 2026 USD debt (bonds) IDR debt (bank loans) USD debt (bonds) IDR debt (bank loans) Historical Net Debt1 Currency Protection with Call Spread Options (In IDR bn) B
Slide 15: Segment 1: Real Estate Overview
SEGMENT 1: REAL ESTATE OVERVIEW 15
Slide 16: Real Estate Business Key Metrics
Real Estate Business Key Metrics 9M22 marketing sales has 9M22 marketing sales was driven by achieved 68% of FY22 target properties located in Lippo Village and Lippo Cikarang area where each LPKR consolidated marketing contributed by 43% and 29%, sales printed IDR 3.5tn in 9M22 respectively Real Es
Slide 17: Business Highlights
Business Highlights 9M22 Marketing Sales is to Continue Growth in 2022 Greater Jakarta is the main contributor to sales in 9M22 4,964 5,200 4% 5% 0% Lippo Village 3,527 7% Cikarang 2,670 2,485 Jakarta 1,598 1,846 12% 43% Makassar 1,206 68.5% Karawang Manado 2018 2019 2020 2021 1Q22 1H22 9M22 Target
Slide 18: Marketing Sales Progress
Marketing Sales Progress Project Location FY22 Marketing 9M22 Marketing 9M22 Units sales target sales sold (in IDR bn) (in IDR bn) Hold Co 3,750 2,521 3,355 Lippo Village West Greater Jakarta 1,875 1,440 1,244 Holland Village Manado Manado, North Sulawesi 5 77 39 Tanjung Bunga Makassar, South Sulawe
Slide 19: 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 • ~1,000 hectares of land bank in Karawaci and portfolio of products and geographic reach Cikarang transla
Slide 20: Cendana Peak Project: On-time Delivery
Cendana Peak Project: On-time Delivery Cendana Peak: launch September 2020 20
Slide 21: Product Focus Q4: Cendana Series
Product Focus Q4: Cendana Series Cendana Series (first-home owners landed) Clusters: Cendana Botanic (Karawaci – Western Jakarta), Cendana Essence (Karawaci – Western Jakarta) and Cendana Spark (Cikarang – Eastern Jakarta) Typical size: - 60sqm land / 55 sqm building IDR 800mn - 74.25sqm land / 68 s
Slide 22: Product Focus Q4: Low-Rise Apartment
Product Focus Q4: Low-Rise Apartment Newville (Low Rise Apartment) Area: Lippo Cikarang – East Jakarta First launch Typical floors: 5 Tower Apartment Shop Total Typical size: Alpha 140 23 163 - 24.35sqm IDR 279mn Gamma 176 27 203 - 28.95sqm land IDR 333mn Zeta 114 15 129 - 40.75sqm land IDR 467mn Ha
Slide 23: Product Focus Q4: Medium-Rise Apartment
Product Focus Q4: Medium-Rise Apartment UrbnX (Medium Rise Apartment) Area: Lippo Karawaci – West Jakarta Location: very strategic location in front of UPH – school of medicine Typical size: - Standard 28.12sqm IDR 403mn - Corner 44.87sqm IDR 608mn - X-tra 53.33sqm IDR 728mn - SOHO 56.23sqm IDR 891m
Slide 24: Segment 2: Healthcare Overview
SEGMENT 2: HEALTHCARE OVERVIEW 24
Slide 25: Consistent Post Covid Revenue Growth
Consistent Post Covid Revenue Growth Revenue* higher by EBITDA increased by EBITDA Margin stable at Operational Cash Flow at 16% 40% 25.9% IDR1.08tn to to in 9M22 and Net Cash Position of IDR 1.95tn IDR 574bn Net Profit Margin at in 3Q22 vs 2Q22 in 3Q22 vs 2Q22 IDR1.2tn and lower by and lower by 8.4
Slide 26: Financial Results per Quarter
Financial Results per Quarter Revenue* (in IDR bn) EBITDA** (in IDR bn) Net Profit (in IDR bn) -2% -3% +16% -3% +0.5% +40% -31% +9% +120% 1,951 574 244 1,784 1,747 1,685 422 409 411 148 111 102 4Q21 1Q22 2Q22 3Q22 4Q21 1Q22 2Q22 3Q22 4Q21 1Q22 2Q22 3Q22 Siloam’s acceleration in operational performan
Slide 27: Strong Growth Trajectory on All Financial Metrics
Strong Growth Trajectory on All Financial Metrics Revenue* (in IDR bn) EBITDA (in IDR bn) +11% +31% 5,889 1,541 5,383 1,394 3,925 4,014 744 624 9M19 9M20 9M21 9M22 9M19 9M20 9M21 9M22 Net Profit (in IDR bn) Operating Cash Flow (in IDR bn) +104% +44% 533 1,075 457 939 874 54 357 -43 9M19 9M20 9M21 9M
Slide 28: Revenue Growth by Payer Group
Revenue Growth by Payer Group (in IDR bn) % Contribution to Revenue (9M21 vs 9M22) 1% Private (OPE, Corp + Insurance) BPJS MoH* 12% 17% 13% Private patients’ (OPE, Corporate & Insurance) contribution continued to grow 75% 82% 9M21 9M22 Payee Group Contribution to Revenue (IDR bn) -8% +35% +9% -20% -
Slide 29: Operational Results per Quarter
Operational Results per Quarter Operational Results per Quarter – Inpatient Admissions Operational Results per Quarter – Occupancy Rate (in ‘000) (in %) 66 64 56 53 55 55 50 51 48 51 51 51 51 46 38 41 41 39 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 Ope
Slide 30: Siloam ASRI – Kidney Transplantation Centre
Siloam ASRI – Kidney Transplantation Centre 20 July 2017 12 March 2021 2017 2021 First kidney transplant procedure Successfully conducted the 100th kidney transplant procedure 2022 4 February 2022 2022 5 July 2022 Successfully conducted the 150th Siloam ASRI became the first private kidney transplan
Slide 31: Siloam Lippo Village – Fertility & Minimal Invasive Centre
Siloam Lippo Village – Fertility & Minimal Invasive Centre JOURNEY >30 IVF Cycles IVF Cycle 2022 2021 >90 Insemination 5 30rd Mar Soft Opening >25 Pregnancies 29th Sept 1st Pregnancy > 5 Take Home Babies (IVF only) 3 3 2022 2 2 6th Jun 1st baby born SUCCESS RATE 1 1 1 1 26th Jul License from Ministr
Slide 32: Accreditation from Joint Commission International (JCI)
Accreditation from Joint Commission International (JCI) Siloam has continued to strengthen its clinical capabilities, quality of service and operational excellence throughout the pandemic and beyond. As the result of management’s continuous improvements and dedication, Siloam is proud to be accredit
Slide 33: Segment 3: Lifestyle Overview
SEGMENT 3: LIFESTYLE OVERVIEW 33
Slide 34: Business Highlights - Lifestyle
Business Highlights - Lifestyle Recovery in mall visitors and hotel occupancy rate due to loosening restriction on community activities Malls • Improved malls footfall due to minimum activity restriction during peak season, 100% capacity in cinema, ability to operate 12 hours per day and children ab
Slide 35: Malls and Hotels See Recovery Post Covid Lockdowns
Malls and Hotels See Recovery Post Covid Lockdowns Malls Hospitality – Aryaduta Hotels • 9M22 revenue of IDR 253bn and EBITDA of • 9M22 revenue of IDR 257bn and EBITDA of IDR 87bn showed steady recovery IDR 93bn as occupancy continue to improve with looser travel restrictions • Footfall traffic has
Slide 36: Sustainability
LIPPO SUSTAINABILITY
Slide 37: Sustainability: ESG Commitment
SUSTAINABILITY ESG Commitment • Fully committed to integrating sustainability in business strategy and operations, to create long-term value for all stakeholders in ecosystem • ESG strategy & performance driven by CEO-chaired ESG Committee, supported by Head of Sustainability and Group- wide ESG fun
Slide 38: Sustainability: ESG Commitment
SUSTAINABILITY ESG Commitment 38
Slide 39: Sustainability: 2021 Highlights
SUSTAINABILITY 2021 Highlights 39
Slide 40: Sustainability: 2021 Highlights
SUSTAINABILITY 2021 Highlights Over 1 million vaccine doses administered 38.8 training hours per employee Zero cases of work-related facilities Over 167,000 trees planted in townships 40
Slide 41: Looking Ahead
LIPPO LOOKING AHEAD
Slide 42: Looking Ahead: Real Estate Segment
Looking Ahead Real Estate Segment • 9M22 Marketing Sales of IDR 3.5tn represents -9.3% YoY decline; 3Q22 Marketing Sales of IDR 1tn represents -33.0% YoY decline. Still projecting positive FY22 YoY growth • We have been cautioning the market against weakening macro backdrop and unfortunately are see
Slide 43: Looking Ahead: Healthcare Segment
Looking Ahead Healthcare Segment • Non-Covid base case recovery is expected to continue as Siloam resumes investment to enhance clinical program and maintain its leads in clinical quality and reach. Margin will also benefit from further improvement in payer mix, case mix, and efficiency measures • S
Slide 44: Looking Ahead: Lifestyle Segment
Looking Ahead Lifestyle Segment • Strong path to recovery on our Malls and Hotels with loosening restriction on travel and public activities • Continue asset enhancement of our two most iconic malls in Jakarta: Gajah Mada Plaza and Plaza Semanggi that located in Jakarta’s main business hub • Upcomin
Slide 45: Appendices
LIPPO APPENDICES
Slide 46: Indonesia's Leading Integrated Real Estate and Healthcare Platform
Appendix: 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 Management 7.6 #1 #1 #2 Management 5.8 10+ Years Real Estate & S
Slide 47: Siloam Presence in Indonesia
Appendix: Siloam Presence in Indonesia 3,693 Medan Operational Jakarta & Greater Jakarta Beds Manado 1 3 4 3,605 GPs, 2 7 8 6 5 Palangkaraya Paal Dua Specialists and 9 Jambi Balikpapan Dentists Palembang Ambon 1. Lippo Village 6. Kelapa Dua Banjarmasin 2. RSUS 7. Mampang Lubuk Linggau Bangka Belitun
Slide 48: Consolidated Statutory Statement of Profit and Loss
Appendix: Consolidated Statutory Statement of Profit and Loss P&L Highlights (in IDR bn) 9M22 9M21 YoY Changes Total Revenues 10,544 12,207 -14% COGS (6,138) (7,541) -19% Gross Profit 4,406 4,665 -6% Operating Expenses (3,399) (3,232) 5% Operating Profit 1,007 1,433 -30% Other Income & Expenses - Ne
Slide 49: Consolidated Statutory Statement of Financial Position
Appendix: Consolidated Statutory Statement of Financial Position Balance Sheet Highlights (in IDR bn) 9M22 FY21 9M22 FY21 ASSETS LIABILITIES & EQUITY CURRENT ASSETS CURRENT LIABILITIES Cash & Cash Equivalent 2,793 4,888 Bank Loans 2,102 1,352 Trade Accounts Receivable 1,830 1,633 Lease Liabilities 5
Slide 50: Financial Results (9M22 vs 9M21)
Appendix: Financial Results (9M22 vs 9M21) 9M22 9M21* Real Estate Healthcare Lifestyle Total Particulars Real Estate Healthcare Lifestyle Total Real Estate Healthcare Lifestyle Total Rp % Rp % Rp % Rp % Revenue 2,790 6,931 822 10,544 3,569 7,144 625 11,338 (779) -21.8% (212) -3.0% 197 31.5% (794) -7
Slide 51: Financial Results (3Q22 vs 2Q22)
Appendix: Financial Results (3Q22 vs 2Q22) 3Q22 2Q22 Real Estate Healthcare Lifestyle Total Particulars Real Estate Healthcare Lifestyle Total Real Estate Healthcare Lifestyle Total Rp % Rp % Rp % Rp % Revenue 920 2,522 289 3,730 1,006 2,188 284 3,478 (86) -8.6% 333 15.2% 5 1.7% 252 7.3% Gross profi
Slide 52: Thank You
LIPPO THANK YOU
Slide 53: Notes
G@LIPPO Notes: 53
Slide 54: Investor Relations
INVESTOR RELATIONS PT LIPPO KARAWACI TBK Head of Investor Relations Dr. Randi Bayu Prathama Email: [email protected] Mobile: +62811225873 54