Pt Lippo Cikarang Tbk · IDX:LPCK
Pt Lippo Cikarang Tbk — 9M 2019 Earnings Presentation
41 slides from Pt Lippo Cikarang Tbk's earnings presentation, November 2019
Slide 1: PT Lippo Cikarang Tbk 9M19 Results Presentation
PT Lippo Cikarang Tbk 9M19 Results Presentation November 2019
Slide 2: Contents
Contents Shareholder Structure 03 - 04 9M19 Financial Data 05 – 11 Meikarta 12 – 19 Projects Data 20 – 29 Lippo Cikarang Map and Corporate Structure 30 - 32 Appendix 33 - 41
Slide 3: Shareholder Structure
Shareholder Structure
Slide 4: Shareholder Structure
Shareholder Structure As of 30 September 2019 As of 31 December 2018 No. of No. of Changes No. Description No. of Shares % No. of Shares % Investor Investor YoY (%) I. Domestic Individual 6,656 212,582,125 7.9% 4,632 116,393,914 16.7% 82.6% Foundation 1 12,500 0.0% 1 12,500 0.0% 0.0% Pension Fund 18
Slide 5: 9M19 Financial Data
9M19 Financial Data
Slide 6: Key Financial Highlights
Key Financial Highlights 9M19 9M18 Change (%) Presales (Rp billion) 634 636 0% Revenue (Rp Billion) 1,060 1,841 -42% Recurring Revenue (Rp billion) 272 247 10% EBITDA (Rp Billion) 298 796 -63% EBITDA Marg i n 28% 43% N.A. Net Income (Rp billion) 367 2,712 -86% Net Debt/Equity Ratio (X) N.A. N.A. N.A
Slide 7: Summary of balance sheet and marketing sales
Summary of balance sheet and marketing sales Balance Sheet (Rp Billion) Dec 2015 Dec 2016 Dec 2017 Dec 2018 Sep 2019 Assets 5,477 5,727 11,267 9,226 12,377 Debt 30 - 249 - 200 Liability 1,813 1,483 4,734 1,696 1,488 Equity 3,633 4,244 6,533 7,530 10,889 Return on Assets (%) 16.7% 9.4% -7.3% 21.3% 4.
Slide 8: Balance Sheet
Balance Sheet (Rp Bn Consolidated) ASSETS 9M 2019 FY 2018 LIABILITIES & STOCKHOLDERS' EQUITY 9M 2019 FY 2018 Current Assets Current Liabilities Cash & Cash Equivalent 498 623 Bank Loan 200 - Accounts Receivable 264 295 Accounts Payable 246 272 Available for Sale Financial Assets 249 218 Accrued Exp.
Slide 9: Highly underleveraged balance sheet
Highly underleveraged balance sheet Total Assets (Rp Bn) Total capitalization (Rp Bn) 14,000 12,000 200 12,000 269 10,000 10,000 3,114 6,526 - 578 8,000 121 249 233 8,000 3,471 75 6,000 6,000 623 498 - 10,620 2,820 71 1,739 1,787 4,000 4,000 8,045 6,458 7,297 680 106 2,000 4,173 2,000 3,967 4,141 2,
Slide 10: Income statement 9M19 and 9M18
Income statement 9M19 and 9M18 (in Rp million) 3Q 2019 3Q 2018 Change % 9M 2019 9M 2018 Change % Total Revenues 373,849 686,716 (312,867) -46% 1,060,339 1,840,763 (780,424) -42% COGS 240,394 263,117 (22,723) -9% 641,600 740,435 (98,835) -13% Gross Profit 133,455 423,599 (290,144) -68% 418,739 1,100,
Slide 11: Income statement highlights
Income statement highlights Property marketing sales (RpBn) Revenue (RpBn) 237 340 77 206 464 1,708 285 386 267 857 629 445 33 272 240 576 15 54 81 2 - 210 336 158 250 69 66 133 43 53 29 311 974 1,129 123 943 309 935 638 652 6- 69 757 703 653 363 8 54 71 92 21 54 168 2014 2015 2016 2017 2018 9M19 20
Slide 12: Meikarta
Meikarta
Slide 13: Strategic region for growth between Jakarta and Bandung
Strategic region for growth – In between 2 of Indonesia’s largest cities (Jakarta & Bandung); West Java is Indonesia’s most populous province SURROUNDED BY FORTUNE 500 COMPANIES 4.000 MULTINATIONAL COMPANIES 1 MILLION CAR PRODUCTION / YEAR 10 MILLION MOTORCYCLES PRODUCTION / YEAR 12.000 EXPA
Slide 14: New infrastructure underway increasing accessibility to Industrial Estates
New infrastructure underway increasing accessibility to Industrial Estates, Future driver of FDI KERTAJATI INTERNATIONAL AIRPORT PATIMBAN DEEP SEAPORT Estimated cost: Rp 25.4 Tn. Estimated cost: Rp 40.0 Tn. Estimated completion: Already Operational Estimated completion: End of 2021 (Partial) ELEVATE
Slide 15: Future Infrastructure Under Construction
Future Infrastructure Under Construction Kertajati Airport Elevated Toll Road Jakarta-Cikampek Operated in 2018 Operated in 2019 LRT Jakarta-East Bekasi High Speed Train Jakarta Bandung To be completed in 2021 To be completed in 2022 15
Slide 16: Meikarta: our next development initiative (cont'd)
Meikarta: our next development initiative (cont’d) Investment in LPCK / Meikarta Sources Uses (in US$m) LPCK will launch a concurrent rights issue to raise the funds required for the completion of its Meikarta project 180 LPKR invested $188m through rights issuance of LPCK Rights issuance was
Slide 17: Meikarta: Significant progress year to date
Meikarta: Significant progress year to date 26 July 2019 4 October 2019 ~500ha of total landbank for long term development over phases Phase 1 Consists of ~84 ha Significant funds already invested into key foundation infrastructure for “Phase 1 +” Phase 1A Consists of ~28 ha 62 towers, of wh
Slide 18: Meikarta Construction Progress October 2019
Meikarta Construction Progress October 2019 18
Slide 19: Central Park at Meikarta
Central Park at Meikarta 19
Slide 20: Projects Data
Projects Data
Slide 21: Waterfront - Affordable Landed Residential Housing
Waterfront - Affordable Landed Residential Housing American Style 21
Slide 22: Waterfront - Affordable Landed Residential Housing
Waterfront - Affordable Landed Residential Housing American Style 22
Slide 23: Waterfront - Affordable Landed Residential Housing
Waterfront - Affordable Landed Residential Housing American Style 23
Slide 24: Waterfront - Affordable Landed Residential Housing
Waterfront - Affordable Landed Residential Housing American Style 24
Slide 25: Waterfront - Affordable Landed Residential Housing
Waterfront - Affordable Landed Residential Housing American Style 25
Slide 26: Trivium
TRIVIUM North Tower Launched : 24 Nov 2012 SGA Sold : 20,142 sqm ASP : Rp 12,1 Mil / sqm Pre – Sold : Rp 245 bil (100%) North Tower South Tower The Suites Payment : Cash 19% (368 unit) (422 unit) (362 unit) Profile Mortgage 23% Instalment 58% South Tower Launched : 1 Jun 2013 SGA Sold : 22,081 sqm A
Slide 27: Orange County
Orange County IRVINE SUITES Launched : 29 Nov 2014 SGA Sold : 24,545 sqm ASP : Rp 13,6 Mil / sqm Pre – Sold : Rp 333 bil (100%) Payment : Cash 5% Profile Mortgage 3% Instalment 92% WESTWOOD SUITES Launched : 29 Nov 2014 Glendale Park Pasadena Suites SGA Sold : 21,677 sqm (505 units) (408 units) ASP
Slide 28: Progress of Orange County
Progress of Orange County Start from 1 SEPTEMBER 2018 ty v “SsTwaDD ’ % YVITES HAND OVER of PASADENA $4 TES. LIPPO GROUP = |CIKARANG|
Slide 29: Complete Public Facilities
Complete Public Facilities WATER BOOM INTERNATIONAL HOSPITAL COMMERCIAL CENTER INTERNATIONAL SCHOOL Leisure & Excitement Siloam Hospital Easton Commercial Center Sekolah Pelita Harapan 5 STARS HOTEL 4 STARS Hotel SERVICED APARTMENTS SHOPPING MALL LIFESTYLE MALL Hotel Sahid Jaya & Grand Zuri Hotel AX
Slide 30: Lippo Cikarang Map and Corporate Structure
Lippo Cikarang Map and Corporate Structure
Slide 31: Map Lippo Cikarang
Map Lippo Cikarang Existing Industrial Orange County Industrial Landbank EJIP (Sumitomo) BIIE (Hyundai) Existing Residential Houses > 17,192 Residential Condominium > 4,466 Shophouses > 1,216 Industrial > 1,316 Global Client Toyota Tsusho, Hankook, Danone, Epson, Haier, KIA Mitsubishi Corp, Sanko So
Slide 32: Corporate Structure (Post Rights Issue)
Corporate Structure (Post Rights Issue) PT LIPPO KARAWACI TBK PT KEMUNING PT LIPPO KARAWACI Tbk Other PUBLIC BELOW SATIATAMA Subsidiaries 5% 77,84% 3,16% 19.00% As of 30 September 2019 No. of outstanding share 2.679.600.000 Code : LPCK IJ Lippo Cikarang Orange County East Jakarta Corridor Trivium
Slide 33: Appendix
Appendix LIPPO GROUP E
Slide 34: Indonesian Property Potential for growth
Indonesian Property Potential for growth ASIA PACIFIC PROPERTY Rapid urbanisation Growing middle–class RENTAL YIELD Strong savings and income growth INDONESIA 8.61% Low mortgage penetration Property as investment PHILLIPINES 6.13% Improving regulatory environment THAILAND 5.13% Banking
Slide 35: Foreign ownership remains a challenge
Foreign ownership remains a challenge 35
Slide 36: Overview of Jakarta's Condominium market
Overview of Jakarta’s Condominium market Quarterly & Annual Condominium Sales 8,000 25,000 7,000 6,000 20,000 5,000 15,000 4,000 Units Units 3,000 10,000 2,000 1,000 5,000 0 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2
Slide 37: Overview of Jakarta's Industrial Market
Overview of Jakarta’s Industrial Market 37
Slide 38: Key Milestones
Key Milestones 2017 2018 1987-1997 2004-2012 2014 • Launch Meikarta, a beautiful • Handover all units sold at The forerunner, PT Desa Dekalb • Construction of Vassa Lake • Opening of Cibatu toll gate Km 34.7. megacity that wll covers 22 Irvine and Westwood at established in 1987, and was Residence a
Slide 39: LPCK trading performance
LPCK trading performance Price to Book as of 14 November 2019 2.5 2.3 x 2.0 1.5 1.2 x 1.0 0.9 x Peers average 0.9x 0.7 x 0.7 x 0.5 0.4 x 0.1 x - DMAS KIJA SSIA BKSL BEST MDLN LPCK Source : Bloomberg as at 14 November 2019; Peers average determined based on the simple average P/BV ratio of DMAS, KIJA
Slide 40: Board of Commissioners and Directors
Board of Commissioners and Directors team focused on corporate governance and driving the business Board of Commissioners Drs. Theo L. Sambuaga Sugiono Djauhari Ali Said Hadi Cahyadi Didik J. Rachbini President Commissioner Commissioner Independent Independent Independent Commissioner Commissioner C
Slide 41: Investor Relations
Investor Relations Lora Oktaviani Corporate Secretary : lora.oktaviani@lippo-cikarang.com : +62 21 8972484 : www.Lippo-Cikarang.com