PT Lippo Karawaci Tbk · IDX:LPKR
PT Lippo Karawaci Tbk — Non-Deal Roadshow (November 2004)
37 slides from PT Lippo Karawaci Tbk's roadshow presentation, November 2004
Slide 1: A Story of Growth & Value Creation
A STORY OF GROWTH & VALUE CREATION
Slide 2: We Are: A Broad-Based Property Company
WE ARE ………. A Broad-Based PROPERTY COMPANY A Consolidation of All-LIPPO-Controlled Property Interests INDONESIA’S LARGEST LISTED PROPERTY COMPANY by MARKET CAPITALIZATION (Rp 3.8 Tn / US$ 421.6 Mn*) having 41% of Top Five Property Companies’ Market Cap. in JSX *US$1 = Rp 9,000,- 1
Slide 3: Company Milestones
COMPANY MILESTONES January 1993 : Started Lippo Karawaci Township June 1996 : IPO 30,800,000 shares have been listed at the JSX & SSX January 1998 : The 1st Rights Issue, 607,796,000 shares were listed in the JSX and SSX September 2002 : Launched its first retail strata title project, WTC Serpong an
Slide 4: Shareholding Structure
SHAREHOLDING STRUCTURE SHAREHOLDERS ∑ OF SHARES % Lippo Related Companies 716,891,529 34.95 CP Inlandsimmobilien-Holding GmbH (CPI) 227,658,750 11.10 Public 1,106,393,472 53.95 TOTAL 2,050,943,750 100.00 3
Slide 5: Management Team
MANAGEMENT TEAM BOARD OF COMMISSIONERS BOARD OF DIRECTORS Viven Sitiabudi President Ning Gaoning Surjadi Soedirdja Chairman of The Board Vice Chairman Jopy Rusli Lucy Pandjaitan Tjokro Libianto Yuke E. S. Hendra A. S. Theo Sambuaga Tanri Abeng SENIOR EXECUTIVES Gordon Benton, OBE Walter T. Gilmore J
Slide 6: US$1 Bn Broad-Based Portfolio
US$ 1 Bn BROAD-BASED PORTFOLIO RECURRING REVENUE DEVELOPMENT REVENUE RENTALS, HEALTHCARE, HOMES & TOWNSHIPS INFRASTRUCTURE & HOSPITALITY COMMERCIAL & RETAIL Sectoral Spread based on Appraised Value as at December 31, 2003 100% = Rp 9.54 Tn (US$1.06 Bn)* 7.4% 6.7% Homes & Township Commercial & Retail
Slide 7: Our Unique Broad-Based Portfolio
OUR UNIQUE BROAD-BASED PORTFOLIO 6
Slide 8: Urban Developments - Townships
URBAN DEVELOPMENTS - TOWNSHIPS - Lippo Karawaci, West Jakarta Lippo Cikarang, East Jakarta Tanjung Bunga, Makassar Area : 3,000 Ha Area : 2,400 Ha Area : 1,000 Ha Homes built : 9,087 Homes built : > 7,000 Homes built : 2,041 ∑ of residents : > 25,000 ∑ of residents : 15,000 ∑ of residents : 3,225 Jo
Slide 9: Case Study – Lippo Karawaci
CASE STUDY – LIPPO KARAWACI To build an Edge City to best international standards, creating value for investors, shareholders & customers LIPPO KARAWACI LIPPO KARAWACI In the beginning At present Started work on site : January 1993 10 Years Land area : 1,227 Ha Land area : 460 Ha Unproductive Homes
Slide 10: Case Study – Micro Suburbs
CASE STUDY – MICRO SUBURBS ROYAL SERPONG VILLAGE First Launched : September 2002 Sales Data UNITS SOLD STOCK UNITS 2002 2003 Sept ‘04 Total ∑ of Units 21 21 24 66 87 Sqm Land Area 3,815 3,267 3,672 10,754 14,019 Marketing Sales ROYAL SERPONG VILLAGE in Rp Bn 11.8 9.0 8.8 29.7 41.6 in US$ Mn 1.31 1.0
Slide 11: Urban Developments - Light Industrial Estates
URBAN DEVELOPMENTS - LIGHT INDUSTRIAL ESTATES - Industrial Estates, Lippo Cikarang Started Development 1993 430 Ha sold 510 factories built > 58,000 workers International brands : Sanyo, Toshiba, Proton, Mitsubishi, Kalbe Farma, Danone, Kymco 10
Slide 12: Commercial & Retail
COMMERCIAL & RETAIL MILESTONE “LIPPO KARAWACI SUPERMALL” Strategic mutual linkage with “The Largest Retailer in Indonesia” Metropolis Town Square, WTC Matahari GTC Makassar West Jakarta South West Jakarta South Sulawesi 102,314 sqm 86,776 sqm 61,915 sqm 11
Slide 13: Case Study - Commercial & Retail
CASE STUDY - COMMERCIAL & RETAIL AN WTC SERPONG EXTRAORDINARY SUCCESS • Building Area : 86,776 sqm • First Launched : October 2002 • Construction : 9 Months • Completion : 25 September 2003 • Middle to middle-up market segments • Effective synergy with largest retailing & family entertainment anchor
Slide 14: Healthcare
HEALTHCARE Siloam Gleneagles Hospital Siloam Graha Medika Hospital Lippo Karawaci Jakarta • 160 bed capacity • 205 bed capacity • 187 specialist doctors • 243 specialist doctors • 266 nurses & medical staffs • 321 nurses & medical staff • Centers of Excellence : Neuro Science, • Centers of Excellenc
Slide 15: Hospitality
HOSPITALITY Focus : to Add Value to Our Development Aryaduta Hotel Imperial Aryaduta Hotel Imperial Aryaduta Jakarta Pekanbaru Hotel & Country Club 325 rooms 100 rooms Lippo Karawaci Imperial Aryaduta Hotel Managed by Hyatt International 197 rooms Makassar, South Sulawesi 223 rooms Imperial Golf Kar
Slide 16: Property Market Overview
PROPERTY MARKET OVERVIEW - HOMES - LANDED HOUSES APARTMENTS TREND : TREND : Landed houses remain the preferred lifestyle for most Apartment living is becoming an interesting development in Indonesians. Jakarta as well as in other major cities around the country OUTLOOK : OUTLOOK : The formation of S
Slide 17: Substantial Room for Growth
SUBSTANTIAL ROOM FOR GROWTH TOTAL POTENTIAL DEVELOPMENT OF 6,400 HA SECTOR DEVELOPMENT ACQUIRED DEVELOPED LAND LANDBANK RIGHTS LAND LAND SOLD & (in HA) (in HA) (in HA) (in HA) INVENTORY (July 2004) (in HA) Township : - Residential & Com. 5,250 3,051 2,419 1,787 1,264 - Industrial 1,150 927 735 430 4
Slide 18: Growing from 3 Strong Pillars
GROWING FROM 3 STRONG PILLARS 17
Slide 19: 3 Pillars of Growth
3 PILLARS OF GROWTH VALUE CREATION 3 PILLARS OF GROWTH Recurring Homes Commercial Revenue & Retail COMPETITIVE STRATEGY Premium Business COMPETITIVE ADVANTAGES Proven track record ⇒ Visionary & Innovative “Rainmakers” ⇒ Deal Flows ⇒ Brand Recognition Synergy Multinational mindset Strategic Alliances
Slide 20: Business Strategy - Homes
BUSINESS STRATEGY - HOMES MICRO SUBURBS 4 – 30 Ha Downtown & suburbs Middle-up to upper income bracket Price / unit : Rp 330 Mn – Rp 570 Mn (US$ 36,700 - US$ 63,300) 120 sqm – 200 sqm “Land & House” Concept APARTMENTS / CONDOMINIUMS Premium / Commercial center locations Middle to middle-up income br
Slide 21: Business Strategy – Commercial & Retail
BUSINESS STRATEGY – COMMERCIAL & RETAIL Combination strata title sales & rental Major Indonesian cities & selected locations in greater Jakarta Close alliances with Strong Brand Top Anchor Tenants 2004 2005 2006 2007 2008 W. Java 24.577 sqm W. Jkt – 21,320 sqm South Greater Jkt 32,994 sqm Acquire La
Slide 22: We Have the Deal Flows
WE HAVE THE DEAL FLOWS DEPOK TOWN SQUARE MALANG TOWN SQUARE MEDAN GRAND PALLADIUM Artist’s Impression Artist’s Impression Artist’s Impression • Sold 68% of retail spaces (13,092 • Sold 95% of retail spaces (8,042 • Subscription for sales value sqm), equivalent to Rp 267 Bn sqm), equivalent to Rp 138
Slide 23: Business Strategy - Healthcare Managed Care Concept
BUSINESS STRATEGY - HEALTHCARE A&B+ Class (middle & upper) segment Insurance Employers Individuals Companies Managed Care Concept Clinic Network Siloam Gleneagles Hospital Siloam Gleneagles Hospital Siloam Graha Medika Hospital Siloam Gleneagles Hospital Siloam Gleneagles Hospital Siloam Sumber Walu
Slide 24: Growth & Value Creation
GROWTH & VALUE CREATION 23
Slide 25: Steady & Consistent Growth
STEADY & CONSISTENT GROWTH 41% CAGR 2,000 1,712 (US$ 190.2 Mn) 1,800 1,600 1,407 1,400 1,200 1,106 (US$ 125.4 Mn) Rp Billion 50% CAGR 1,000 800 (US$ 88.9 Mn) 801 800 614 620 518 (US$ 58.8 Mn) 600 400 (US$ 44.4 Mn) 43% Growth (US$ 27.5 Mn) 400 283 279 289 290 60.2% CAGR 235 (US$ 32.2 Mn) 242 188 (US$
Slide 26: Balance Sheet
BALANCE SHEET 6,000 5,400(US$ 600.0 Mn) 5,314 (US$ 579.5 Mn) 5,000 4,176 4,000 3,740 (US$ 407.9 Mn) Rp Billion 3,590 3,161 3,258 2,949 2,792 (US$ 310.2 Mn) 3,000 2,475 2,348 (US$ 260.9 Mn) 2,000 1,320 (US$ 143.9 Mn) 1,000 687 451 408 - 2001 2002 2003 2004 (P) 30-Sep-04 Stockholders' Equity Total Lia
Slide 27: Revenue Trend
> 25% growth REVENUE TREND Net Profit Net Profit Net Profit Rp 289 Bn (US$ 32.1 Mn) Rp 290 Bn (US$ 32.2 Mn) Rp 355 Bn (US$ 39.4 Mn) o w th % gr > 20 Healthcare, 18% Rental, 1% Healthcare Residential Healt hcare, 2 0 % R ent al, 1% Residential, 20% 21% 24% R esid ent ial, 2 7% Infrastructure Infrastr
Slide 28: Operating Profit Trend
OPERATING PROFIT TREND Net Profit Net Profit Net Profit Rp 289 Bn (US$ 32.1 Mn) Rp 290 Bn (US$ 32.2 Mn) Rp 355 Bn (US$ 39.4 Mn) Healt hcare, 9% Healt hcare, 12% Inf rast ruct ure & Inf rast ruct ure Rent al, 2% Healt hcar e, 5% & Ho sp it alit y , R esid ent ial, Inf rast ruct ure & Rent al, 1% Hosp
Slide 29: 19% & 20% CAGR in Top Line & Bottom Line
19% & 20% CAGR IN TOP LINE & BOTTOM LINE 2004 2005 2006 2007 3.0 19% CAGR 2.6 (US$ 333.3 Mn) Total Revenue (Rp Tn) 2.1 (US$ 285.8 Mn) 1.7 (US$ 237.8 Mn) (US$ 190.2 Mn) Recurring Revenue 38% 36% 36% 37% Homes & Township 35% 27% 32% 36% 20% CAGR Commercial & Retail 27% 37% 32% 27% Net Profit (Rp Bn) 2
Slide 30: Diversification Mitigates Cyclicality
DIVERSIFICATION MITIGATES CYCLICALITY 3,500 3,000 (US$ 333.3 Mn) 3,000 2,573 (US$ 285.8 Mn) 2,500 2,140 (US$ 237.8 Mn) Rp Billion 2,000 1,712 (US$ 190.2 Mn) 1,500 Total Revenue 1,111 (US$ 123.4 Mn) 920 (US$ 102.2 Mn) 1,000 774 (US$ 86.0 Mn) 648 (US$ 72.0 Mn) 545 (US$ 60.6 Mn) Recurring Revenue 500 3
Slide 31: Projections 2005/2006
PROJECTIONS 2005/2006 SECURED SALES REVENUE DESCRIPTION Rp Bn 2005 2006 US$ 1 = Rp 9,000,- Rp Bn Rp Bn RECURRING REVENUES 774 920 In US$ Mn 86 102 HEALTHCARE 396 463 HOSPITALITY 249 294 INFRASTRUCTURE 129 164 DEVELOPMENT REVENUES % 1,367 1,653 In US$ Mn of Total Sales 152 184 REVENUES WORK IN PROGRE
Slide 32: Rights Issue Plan
RIGHTS ISSUE PLAN 31
Slide 33: Rights Issue to Capitalise on Opportunities
RIGHTS ISSUE TO CAPITALISE ON OPPORTUNITIES Rights Issue Market Cap. Pre RI Target Proceeds Rp 926 Bn Number of Current Outstanding Shares 2,051 Mn Rp 3.8 Tn Market Price (Nov 24, 2004) Rp 1,850 Ratio (New Shares : Existing Shares) 43 for 100 US$ 421.6 Mn Rights Issue Price Rp 1,050 New Shares Issue
Slide 34: Rights Issue to Capitalise on Opportunities
RIGHTS ISSUE TO CAPITALISE ON OPPORTUNITIES EPS FULLY DILUTED YEAR NET PROFIT PRE RI POST RI POST WARRANT 2004 Rp 290 Bn Rp 141 Rp 99 2005 Rp 355 Bn Rp 173 Rp 121 Rp 103 2006 Rp 430 Bn Rp 147 Rp 124 2007 Rp 525 Bn Rp 179 Rp 152 RNAV / Share FULLY DILUTED PRE RI POST RI POST WARRANT Rp 2,881 Rp 2,330
Slide 35: Planned Schedule of Rights Issue
PLANNED SCHEDULE OF RIGHTS ISSUE Registration Statement to Bapepam 17 Sep 04 Recording Date for EGM 22 Oct 04 EGM 15 Dec 04 Cum-Rights 21 Dec 04 Ex-Rights 22 Dec 04 Recording Date for Rights 27 Dec 04 Rights Trading Period 29 Dec 04 – 17 Jan 05 Rights Exercise Period 29 Dec 04 – 17 Jan 05 Warrants T
Slide 36: Investor Relations
INVESTOR RELATIONS HENDRA A. SUGANDI (DIRECTOR) JENNY KUISTONO (CORPORATE SECRETARY) 2121 Bulevar Gajah Mada #02-09 Lippo Cyber Park LIPPO KARAWACI NORTH Tangerang 15811 Banten – Indonesia telp. +62 21 55790190 fax. +62 21 55797220 email : [email protected] [email protected]
Slide 37: Thank You
…and that’s LIPPO KARAWACI Indonesia’s Broad-Based Property Company Thank You www.lippokarawaci.co.id
PT Lippo Karawaci — Non-Deal Roadshow (November 2004) on 6ix