PT Lippo Karawaci Tbk · IDX:LPKR
PT Lippo Karawaci Tbk — H1 2022 Earnings Presentation
42 slides from PT Lippo Karawaci Tbk's earnings presentation, Aug 30, 2022
Slide 1: PT Lippo Karawaci Tbk 1H22 Corporate Presentation
PT Lippo Karawaci Tbk 1H22 Corporate Presentation August 30, 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 27% 65% 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 June 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 & Medic
Slide 7: 1H22 Executive Summary
LIPPO 1H22 EXECUTIVE SUMMARY
Slide 8: Executive Summary
Executive Summary Stable 1H22 LPKR revenue posted at IDR 6.81tn. SEGMENT 1: REAL ESTATE 1H22 marketing sales of IDR Successfully launched series Maintained FY22 marketing sales 2.48tn with total 3,047 unit sold, of Cendana Homes clusters target of IDR 5.2tn, but cautioned made up 47.8% of the FY tar
Slide 9: Financial Update
LIPPO FINANCIAL UPDATE
Slide 10: Stable Financial Improvement with Exceptional Covid Gain for Healthcare in 2021
Stable Financial Improvement with Exceptional Covid Gain for Healthcare in 2021 Revenue EBITDA (in IDR bn) (in IDR bn) 7,374 1,600 6,814 CAGR +13% 5,333 CAGR +15% 1,285 969 1H20 1H21 1H22 1H20 1H21 1H22 Gross Profit NPAT (in IDR bn) (in IDR bn) 3,192 2,933 1H20 1H21 1H22 CAGR +18% 2,117 CAGR +7% (63
Slide 11: Stable Quarter on Quarter Improvement
Stable Quarter on Quarter Improvement Revenue EBITDA (in IDR Bn) (in IDR Bn) +4.2% -1.0% +1.1% +4.3% +13.6% -0.7% -1.2% +11.7% Real Healthcare Lifestyle Estate Dev. Real Healthcare Lifestyle Estate Dev. 1Q22 2Q22 1Q22 2Q22 - 2Q22 saw consolidated revenues increased by - EBITDA in 2Q22 increased by 1
Slide 12: QoQ Underlying NPAT Improved by IDR 115bn
QoQ Underlying NPAT Improved by IDR 115bn Whilst NPAT for the Same Period Decreased by IDR 70bn Due Largely to Unrealised FX Losses QoQ YoY In IDR bn 2Q22 1Q22 1H22 1H21¹ Rp % Rp % EBITDA 678 607 71 11.7% 1,285 1,600 (315) -19.7% EBITDA margin 19.5% 18.2% 18.9% 21.7% Interests (246) (250) 4 -1.6% (4
Slide 13: CF from Business Operations Improved by c. IDR 1tn
CF from Business Operations Improved by c. IDR 1tn Driven by Improved Collections from Customers and Successful Management of Operating Costs Cashflow movement (Jun 2022) (in IDR bn) 6,000 5,000 4,888 4,000 3,124 3,000 Operating Investing Financing 2,000 1,000 4 -- (164) (333) (376) (226) (1,000) (6
Slide 14: Debt and USD/IDR Hedging
Debt and USD/IDR Hedging Debt breakdown Debt maturity Profile (in USD mn) 11% 420.0 417.0 69.7 3.0 12.8 11.4 2.0 89% 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) 0.
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 Excluding one-off land plot Stable demand of first-home owners sales, 1H22 marketing sales segment contributed 64.3% to total saw a YoY decline of 6.4% marketing sales in 1H22. Rp2.18tn in 1H22 vs Rp2.33tn in 1H21 Revenue increased by 16.3% To LPKR is making IDR 1,00
Slide 17: Business Highlights
Business Highlights Strong take-up rate of over 95% with launch of several new clusters in Cendana series during 2Q22 April 2022 June 2022 Launching Cendana Marq, Nest and Clov’r @ Lippo Karawaci Launching Cendana Gard’n & Gard’n Avenue @ Lippo Karawaci 1H 2022 Marketing Sales (Units Sold) 1H 2022 M
Slide 18: Marketing Sales Progress
Marketing Sales Progress Project Location FY22 Marketing Sales 1H22 Marketing 1H22 Units sold Target (RpBn) Sales (RpBn) Holdco 3,750 1,865 2,573 Lippo Village West Greater Jakarta 1,875 1,084 1,205 Holland Village Manado Manado, North Sulawesi 5 34 32 Tanjung Bunga Makassar, South Sulawesi 350 178
Slide 19: 1H22 Continuing Sales Growth from 1Q22
1H22 is Continuing Sales Growth from 1Q22 Showing Robust Demand from Younger Segment Buyers 1H22 Marketing Sales Is to Continue Growth in 2022 Greater Jakarta is the main contributor to sales in 1H22 4,964 5,200 5.1% 3.4% 0.2% 7.2% Lippo Village 2,670 2,485 47.8% Cikarang 1,598 1,846 1,206 Jakarta 4
Slide 20: 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 21: Segment 2: Healthcare Overview
SEGMENT 2: HEALTHCARE OVERVIEW 21
Slide 22: Consistent Post Covid Revenue Growth
Consistent Post Covid Revenue Growth Revenue* lower by EBITDA increased by EBITDA Margin stable at Operational Cash Flow at 4% 0.5% 24.4% IDR583bn in 2Q22 vs 1Q22 and in 2Q22 vs 1Q22 and in 2Q22 and increased by higher by Net Cash Position of Net Profit Margin at 17% 35% IDR1.28tn in 2Q22 vs 1Q20 in
Slide 23: Strong recovery in post Lebaran performance
Strong recovery in post Lebaran performance 2022 Monthly Revenue* (in IDR bn) 2022 Monthly EBITDA* (in IDR bn) 19% 19% 19% 16% 19% 21% 900 180 800 160 700 140 600 120 500 100 400 80 300 60 200 40 100 20 0 0 Jan Feb Mar Apr May Jun Jan Feb Mar Apr May Jun *Revenue referring to Non-Specialist + Specia
Slide 24: Strong growth trajectory on all financial metrics
Strong growth trajectory on all financial metrics Revenue* (IDR bn) EBITDA (IDR bn) 3,812 962 3,432 820 2,544 2,513 374 385 1H19 1H20 1H21 1H22 1H19 1H20 1H21 1H22 Net Profit (IDR bn) Operating Cash Flow (IDR bn) 314 583 213 442 466 11 198 -129 1H19 1H20 1H21 1H22 1H19 1H20 1H21 1H22 24
Slide 25: Revenue growth supported by non-Covid
Revenue growth supported by non-Covid Base Case COVID 100% 3% 6% 12% 90% 23% 27% 29% 32% 35% 80% 36% 70% 60% 50% 100% 97% 94% 88% 40% 77% 73% 71% 68% 65% 30% 64% 20% 10% 0% 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 *Revenue referring to Gross Revenue *COVID Revenue including Testing, Treatme
Slide 26: Siloam ASRI – Kidney Transplantation Centre
Siloam ASRI – Kidney Transplantation Centre 2017 20 July 2017 First kidney transplant procedure 2021 12 March 2021 Successfully conducted the 100th kidney transplant procedure 2022 4 February 2022 Successfully conducted the 150th kidney transplant procedure 23 March 2022 Visitation from Ministry of
Slide 27: Managed Service Model
Managed Service Model Siloam opened its first hospital under its new managed service business line in April 2022. Via this business line an external investor uses their own capital to build and fit out the hospital and once built, Siloam manages the hospital. We then leverage our brand and integrate
Slide 28: Segment 3: Lifestyle Overview
SEGMENT 3: LIFESTYLE OVERVIEW 28
Slide 29: 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 30: Malls and Hotels see Recovery Post Covid Lockdowns
Malls and Hotels see Recovery Post Covid Lockdowns Malls Hospitality – Aryaduta Hotels • 1H22 revenue of IDR 171bn and EBITDA of • 1H22 revenue of IDR 158bn and EBITDA of IDR IDR 43bn showed steady recovery in line 53bn as occupancy continue to improve with with improved Malls traffic. looser travel
Slide 31: Sustainability
LIPPO SUSTAINABILITY
Slide 32: 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 33: Sustainability: ESG Commitment
SUSTAINABILITY ESG Commitment 33
Slide 34: Sustainability: 2021 Highlights
SUSTAINABILITY 2021 Highlights 34
Slide 35: 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 35
Slide 36: Looking Ahead
LIPPO LOOKING AHEAD
Slide 37: Looking Ahead: Real Estate Segment
Looking Ahead Real Estate Segment • Increasing challenging macro risks which may impact the industry, including: • Rising interest rate environment in Indonesia with the potential to push up mortgage rates, leading to reduced affordability; exacerbating a weak demand environment • Softening commodit
Slide 38: Looking Ahead: Healthcare Segment
Looking Ahead Healthcare Segment • Covid made up over 30% of 2021 revenue that needs to be made up by base case revenue growth in 2022. Sustained month-on-month base case recovery has been maintained from Q2 onward and likely to continue through the end of the year • Siloam is partnering with Indone
Slide 39: Looking Ahead: Lifestyle Segment
Looking Ahead Lifestyle Segment • Strong path to recovery on our Malls and Hotels with loosening of travel restriction and less restriction on public activities • Continue asset enhancement of our two most iconic malls in Jakarta: Gajah Mada Plaza and Plasa Semanggi that located in Jakarta’s main bu
Slide 40: Thank You
LIPPO THANK YOU
Slide 41: Notes
G@LIPPO Notes: 41
Slide 42: 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 42