PT Bakrieland Development Tbk Class A · IDX:ELTY
PT Bakrieland Development Tbk Class A — 9M2012 Earnings Presentation
48 slides from PT Bakrieland Development Tbk Class A's earnings presentation, Dec 18, 2012
Slide 1: Bakrieland 9M2012
170609-1Q09 181212 – 9M2012 www.bakrieland.com
Slide 2: Why Invest in Bakrieland?
WHY INVEST IN BAKRIELAND? If you are a very busy person, read here EXTERNAL Healthy Indonesia's GDP growth 2012E GDP growth is 6.3%, 3rd highest among G-20 countries Favorable supply & demand condition Potential demand of house in Indonesia exceeds supply Attractive property price & yield Indonesian
Slide 3: Table of Contents
TABLE OF CONTENTS Why invest in Indonesian property companies ………………………………… 4 Bakrieland's profile …………………..……….…………….. 6 City property projects …………………...….…………….. 11 Landed residential project ……………………………… 17 Hotel and Resort project …………………………………25 Financial highlight …………………………………………28 Appendice
Slide 4: Why Invest in Indonesian Property Companies
WHY INVEST IN INDONESIAN PROPERTY COMPANIES • Solid economy • Relatively low interest rate 10 % Estimated 2012 GDP growth, G-20 50% 9 45% 8 40% 7 35% 6 30% 5 25% 4 20% 3 15% 2 10% 1 5% 0 0% France Italy Turkey UK US South Africa Russia Argentina India Saudi Arabia Australia Korea Germany China Canad
Slide 5: Favorable Conditions: Lowest price and highest yield
FAVORABLE CONDITIONS • Lowest price and highest yield Apartment Price in Premiere City Center (price per Sq.m.) Japan 15,122 India 11,306 Taiwan 7,112 China 6,932 Philippines 3,204 Thailand 2,996 Cambodia 2,913 Malaysia 2,182 Indonesia 2,099 US$ 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000
Slide 6: Bakrieland's Profile
BAKRIELAND’S PROFILE 6
Slide 7: Corporate Structure
CORPORATE STRUCTURE BAKRIELAND INTEGRATED PROPERTY COMPANY P R O P E R T Y PROPERTY RELATED INFRASTRUCTURE CITY PROPERTY LANDED RESIDENTIAL HOTELS & RESORTS TOLL ROAD WATER TREATMENT & DIST. Revenue : IDR 655 bn (50%) Revenue : IDR 321 bn (24%) Revenue : IDR 281 bn (21%) Revenue : IDR 62 bn (5%) Rev
Slide 8: Business Strategy
BUSINESS STRATEGY • Focusing on mid-to-mid-up Residential DEVELOPMENT Development in prime city locations FOCUS • Strengthening new project position by leveraging and capitalizing on existing project branding DEVELOPMENT • Increasing development pace through strategic ACCELERATION alliance (Joint Op
Slide 9: Bakrieland's Strength
BAKRIELAND’S STRENGTH MAR K ET LEAD ER LARGEST LARGEST LARGEST One of LARGEST Jakarta CBD Development Land Bank Market cap. Developer (1) Area in in Jakarta of All Property Jakarta CBD (2) Greater Area (3) Stocks on IDX (4) DIVERSIFIED DIVERSIFIED GOOD FOCUSED Portfolio (5) Locations (6) Track recor
Slide 10: Major Shareholders (>5%)
MAJOR SHAREHOLDERS (>5%) CGMI 11.16% PUBLIC 88.84% CGMI : Custodian Code of Avenue Luxembourg SARL (Avenue Capital) PUBLIC : Each ownership < 5% Source : share registrar, 30 September 2012 10
Slide 11: City Property Projects
CITY PROPERTY PROJECTS THE LIFESTYLE CAPITAL OF JAKARTA 11
Slide 12: The Jakarta Golden Triangle
Jakarta THE JAKARTA GOLDEN TRIANGLE CITY PROPERTY DEVELOPMENT 200 Indonesia's urban and rural population m Urban Rural 180 160 140 120 100 80 60 40 20 0 1950 1965 1980 1995 2010F 2025F Nikko Hotel Grand Hyatt Hotel Menteng Source: United Nations, BPS, CLSA Shangri-La Hotel Asia-Pacific Markets, Apri
Slide 13: Rasuna Epicentrum
Project RASUNA EPICENTRUM CITY PROPERTY DEVELOPMENT 18 thirty-storey condominium towers (4,250 units), fully developed A. BAKRIE TOWER H B. LIFESTYLE CENTER L C. PASAR FESTIVAL E F D. ELITE CLUB EPICENTRUM E. TAMAN RASUNA APARTMENT B F. ASTON RASUNA A K G RESIDENCE J I D G. MEDIA WALK H. THE WAVE M
Slide 14: The Grove Condominium, The Grove Suites, The Wave
THE GROVE THE GROVE THE WAVE CONDOMINIUM SUITES CONDOMINIUM Project CITY PROPERTY DEVELOPMENT • 9 mid-segment condominium towers • 2 mid-up segment condominium towers • A five star strata hotel with 151 units with 2,621 units with 440 units • Average size per unit • Average size per unit • Average s
Slide 15: Ocea Condotel and Rasuna Tower
OCEA CONDOTEL RASUNA TOWER Project CITY PROPERTY DEVELOPMENT • A four star strata hotel with 324 units • A mixed use tower • Average size per unit (Grade A office, hotel and restaurant) 2 bedroom 56 sqm • 60 stories with 98,077 sqm usable area • 17% pre sold • BOT project • Construction progress bas
Slide 16: Bakrie Tower, Epicentrum XXI, Lifestyle Center
LIFESTYLE BAKRIE TOWER EPICENTRUM XXI CENTER Investment CITY PROPERTY DEVELOPMENT • Jakarta’s highest strata office tower • A cinema with a unique red carpet • Entertainment center and office tower • 47-storey of grade-A office building concept in an independent building • 29,208 sqm useable area wi
Slide 17: Landed Residential Project
LANDED RESIDENTIAL PROJECT SIMPLY PARADISE INSPIRED BY NATURE 17
Slide 18: Bogor Nirwana Residence Location
JAKARTA BOGOR NIRWANA RESIDENCE LOCATION RESIDENTIAL DEVELOPMENT CITY PROPERTY DEVELOPMENT Jagorawi Toll Road BOGOR A Proposed Bogor Outer Ring Road B Proposed Bogor Inner Ring Road Proposed Ciawi Sukabumi Rancamaya Toll Road A Bogor train station (4 km to BNR) B Batu Tulis train station (1 km to BN
Slide 19: Bogor Nirwana Residence
Project BOGOR NIRWANA RESIDENCE RESIDENTIAL DEVELOPMENT The largest housing project in Bogor City • A landed residential project that develops more than 1,000 Ha of land in Bogor city, Southern of Jakarta with various types of houses • Supporting facilities: water park and retail area • Planned supp
Slide 20: Bogor Nirwana Residence Assets
Asset & Project BOGOR NIRWANA RESIDENCE RESIDENTIAL DEVELOPMENT The Jungle Mall Orchard Walk RETAIL SPACE STRATA RETAIL SPACE 11,315 sqm leasable area Nirwana Epicentrum 15,735 sqm saleable area Aston Hotel Bogor The Jungle Artist impression 4-STAR STRATA HOTEL EDUTAINMENT WATER PARK 20 223 units (1
Slide 21: Sentul Nirwana
Project SENTUL NIRWANA RESIDENTIAL DEVELOPMENT SN : Sentul Nirwana 200-600m above sea level Jakarta North BNR: Bogor Nirwana Residence SC : Sentul City Jakarta – Sentul circuit exit 1 33 km Jakarta – Sentul exit 2 37 km Jakarta – Bogor exit 3 42 km 2 - 4 5 km (5 minutes) 4 - 5 9 km (9 minutes) oad t
Slide 22: Sentul Nirwana
Project SENTUL NIRWANA RESIDENTIAL DEVELOPMENT The largest residential project in Jakarta greater area • An integrated residential project that develops 12,000 Ha of land in Sentul/Jonggol, Southern of Jakarta • Nearby supporting facilities: School, retail area, traditional market, hotel, convention
Slide 23: Sentul Nirwana
Project SENTUL NIRWANA RESIDENTIAL DEVELOPMENT Football academy Golf course Sentul Nirwana Hotel 1. MAIN GATE 4 2. HOUSING CLUSTER 6 3. DOWNTOWN 3 7 4. JUNGLELAND 2 5. PANCAR MOUNT 1 6. GOLF HOUSING VIEW 9 7. CLUBHOUSE & HOTEL 5 8 10 8. HOT SPRING HOTEL 9. 27 HOLES GOLF COURSE 10. GOLF HOUSING VIEW
Slide 24: Sentul Nirwana
Project SENTUL NIRWANA RESIDENTIAL DEVELOPMENT 24 40 Ha theme park, 8 thematic zones, providing 90 rides
Slide 25: Hotel & Resort Project
HOTEL & RESORT PROJECT RESORT LIVING STYLE 25
Slide 26: Pullman Bali Legian Nirwana
HOTEL LIFETIME INVESTMENT Project PULLMAN BALI LEGIAN NIRWANA HOTEL & RESORT DEVELOPMENT • The first strata hotel in Kuta-Bali • Managed by Accor International • 356 five-star hotel units on 2.4 ha land (276 units for sale & 80 units retained) • More than 98% from 276 units is already sold • Operati
Slide 27: Pan Pacific Nirwana Bali Resort
RESORT Asset PAN PACIFIC NIRWANA BALI RESORT HOTEL & RESORT DEVELOPMENT • A 278-room luxury hotel managed by Pan Pacific within Nirwana Bali Resort complex, Bali’s first fully integrated resort of 100 Ha, located in Tanah Lot, Tabanan, Bali • Begins operation in 1997 • Nirwana Bali Resort also provi
Slide 28: Financial Highlights
FINANCIAL HIGHLIGHTS 28
Slide 29: Comprehensive Income
COMPREHENSIVE INCOME 2,500 Net Revenues (IDR billion) 2,017 2,000 5-year CAGR : 39% 1,500 1,368 1,054 1,059 1,000 782 393 500 0 2006 2007 2008 2009 2010 2011 9M2011 9M2012 % Change Net Revenues 1,449.7 1,319.3 (9.0) Gross Profit 596.6 606.5 1.7 Pre-tax Income 196.5 (168.0) (185.5) EBITDA 329.9 247.5
Slide 30: Financial Position
FINANCIAL POSITION IDR billion 1 1 1 As of 2008 2009 2010 2011 9M12 Cash & cash equivalents 740 760 861 597 188 Fixed assets 952 4,616 5,639 5,601 6,255 Inventories and land banks 4,373 3,671 6,313 6,663 7,587 Other assets 2,270 2,546 4,252 4,847 3,762 Total assets 8,335 11,593 17,064 17,708 17,792
Slide 31: Financial Ratios
FINANCIAL RATIOS IDR billion except for ratios, EBITDA/share and EPS 2008 2009 2010 2011 9M2012 Revenue 1,053.8 1,059.0 1,367.6 2,017.3 1,319.3 Gross profit 510.8 498.1 669.3 958.2 606.5 Gross margin 48.5% 47.0% 48.9% 47.5% 46.0% EBITDA 266.8 257.3 406.2 499.2 247.5 EBITDA margin 25.3% 21.7% 29.7% 2
Slide 32: Revenue Breakdown and Sales Backlog
REVENUE BREAKDOWN AND SALES BACKLOG Hotel and Toll Road Total 9M12 Revenues : Rp1,319.3 billion Resort 5% • Recurring Revenues : 50.2% 21% • Non Recurring Revenues : 49.8% City Landed Property Residential 50% 24% Total Sales @ 31 December 2011 sales Revenue backlog (IDR bn) (IDR bn) (IDR bn) CONDOMI
Slide 33: Land Bank
LAND BANK 30 June 2012 Location Land Development Bank (Ha) Area (Ha) City Property Rasuna Epicentrum CBD Jakarta 10.6 53.5 Sentra Timur Residence East Jakarta 2.5 3.2 Landed Residential Bogor Nirwana Residence Bogor 793.4 1,002.4 Batam Nirwana Residence Batam 3.3 25.0 Sentul Nirwana Jonggol 12,808.0
Slide 34: Thank You
PT . BAKRIELAND DEVELOPMENT TBK Thank You INVESTOR RELATIONS Nuzirman Nurdin (Head of Investor Relations) Iyan Yudistira (Investor Relations) Wisma Bakrie 1, 6th Floor Jl. HR Rasuna Said Kav. B-1 Jakarta 12920 Tel +62 21 525 7835 Fax +62 21 522 5063 [email protected] http://www.bakri
Slide 35: Appendices
APPENDICES 35
Slide 36: Why Bogor and Jonggol
APPENDIX 1, BAKRIELAND WHY BOGOR AND JONGGOL • Due to environment-related Jakarta reasons, Jakarta will expand N mainly to South of Jakarta W C E Top 5 most densely populated cities 1. Hong Kong, China 2. Lagos, Nigeria S 3. Dhaka, Bangladesh 4. Jakarta, Indonesia 5. Mumbai, India Source: "The Top 1
Slide 37: How We Create Value?
APPENDIX 1, BAKRIELAND HOW WE CREATE VALUE? Acquiring Owning sizeable (1) Improving accessibilities significantly (4) Sizeable high potential (2) Providing complete supporting facilities (5) High quality low cost (3) Leveraging with strong brand name (6) Attractive valuation land bank land bank 1. M
Slide 38: Milestones
APPENDIX 1, BAKRIELAND MILESTONES February 1998: November 2005: February 2008: June 2009: PT Bakrie Capital Avenue Luxembourg 1st Bond issue of 1st Sukuk issue of Indonesia Sarl IDR 500 bn ** IDR 150 bn bought 57.84% stake bought 12% stake June 1990: May 2004: May 2007: October 2008: March 2010: Est
Slide 39: Development Track Record
APPENDIX 1, BAKRIELAND DEVELOPMENT TRACK RECORD EST. DEV. COST GFA LAND CONSTRUCTION PERIOD PROJECTS (IDR-bn) (USD-mn) * (sqm) (HA) 84 85 TO 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 OFFICE BUILDING Bakrie Tower 900 100 72,984 1.0 Wisma Bakrie 1 45 23 13,260 0.4 Wisma Bakrie 2 142
Slide 40: Good Corporate Governance
APPENDIX 1, BAKRIELAND GOOD CORPORATE GOVERNANCE As a public company, Bakrieland is aware the importance of Good Corporate Governance in frame of increasing performance and accountability of Bakrieland to the public. In assuring these, Bakrieland already has the followings: 1. Independent commission
Slide 41: Bakrieland Goes Green
APPENDIX 1, BAKRIELAND BAKRIELAND GOES GREEN Integrated Corporate Social Responsibility Bakrieland Goes Green (BGG) is a CSR program integrating economic factor (profit), social care (people) and active participation in preserving the environment (planet) in business activities in order to create su
Slide 42: Bakrieland's Recurring Income Assets
APPENDIX 1, BAKRIELAND BAKRIELAND’S RECURRING INCOME ASSETS Bakrie Tower * Wisma Bakrie 2 Wisma Bakrie 1 Aston Rasuna Residence * Lifestyle Center * Pasar Festival Jungle Edutainment Park Jungle Mall Aston Hotel Bogor * Pullman Bali Legian Nirwana * Pan Pacific Nirwana Bali Resort Jungleland 42 * Pa
Slide 43: Bakrieland's Products & Services
APPENDIX 1, BAKRIELAND BAKRIELAND’S PRODUCTS & SERVICES 1 1 1 1 1 1 1 1 2 2 2 3 4 4 5 6 6 7 3 7 5 1 2 6 4 43
Slide 44: The Map of Indonesia
APPENDIX 2, MACRO & INDUSTRY THE MAP OF INDONESIA INDONESIA Area: 1,890,000 sq. km. Population: 238 mn Population growth: 1.5% per year Density: 129 / sq. km. GDP: US$ 819bn (2011) INDIA GDP per capita: US$ 3,543 (2011) THAILAND GDP growth: 6.5% (2011) PHILIPPINES Interest rate: 5.75% (02/12) VIETNA
Slide 45: Favorable Conditions
APPENDIX 2, MACRO & INDUSTRY FAVORABLE CONDITIONS Healthy banking industry Foreign reserve is trending upward 1998 2011 Indonesia's Foreign Reserve 120 Assets (IDR tn) 896 3,742 100 TPF (IDR tn) 754 2,645 80 US$ bn NPL (%) 53.0 2.5 60 CAR (%) (15.7) 16.6 40 20 LDR (%) 72.4 81.0 2000 2001 2002 2003 2
Slide 46: Favorable Conditions
APPENDIX 2, MACRO & INDUSTRY FAVORABLE CONDITIONS Increasing GDP per capita Unique GDP 3,600 GDP breakdown (2011) 3,200 US$ Household consumption 55.6% 1,369.9 2,800 5-year CAGR 13.9% Government consumption 8.2% 202.6 2,400 GFCF 24.4% 602.1 2,000 Change in Stocks 0.9% 21.9 1,600 Statistical Discrepe
Slide 47: Board of Commissioners, Directors, Senior Executives
BOARD OF COMMISSIONERS Bambang I. Hendradi Lukman Purnomosidi Kanaka Puradiredja Supartono Armansyah Yamin Amir Abdul Rachman President Commissioner Independent Commissioner Independent Commissioner Commissioner Commissioner Commissioner BOARD OF DIRECTORS Ambono Janurianto Feb Sumandar Azrul Azwar
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