Slide 1: Results Presentation (12M19)
Results Presentation (12M19)
Slide 2: Results Summary (Income Statement)
Results Summary (Income Statement) (Rp bn) 12M19 12M18 % YoY Effect of -3% YoY in Property Development segment and Revenue 7,608 7,670 -1% +8% YoY in Recurring segment COGS (3,816) (4,042) -6% Gross Profit 3,792 3,628 5% Gross Profit Margin 50% 47% Effect of product mix Operating Expense (1,636) (1,
Slide 3: Results Summary (Revenue Breakdown and Margin Performance)
Results Summary (Revenue Breakdown and Margin Performance) (Rp bn) 12M19 12M18 % YoY Revenue Breakdown Property Development Revenue 5,679 5,880 -3% Houses, shophouses, and land lots 4,200 4,042 4% Apartments 877 1,353 -35% High base from recognition of en bloc sale to Ascott in 2018 (Rp675bn) Office
Slide 4: Results Summary (Revenue per Segment and per Location)
Results Summary (Revenue per Segment and per Location) Revenue per Segment (12M19) Revenue per Location (12M19) Greater Apartment Office Strata Surabaya Strata 8% 31% 12% Shopping Malls 10% Hotels 6% Other Java 11% Others 9% Sumatra 6% Houses, shophouses, and Sulawesi land lots Greater Jakarta Other
Slide 5: Results Summary (Historical Revenue Breakdown)
Results Summary (Historical Revenue Breakdown) Rp tn Development vs. Recurring Revenue 9.00 8.00 7.00 1.4 1.8 1.9 27% 6.00 1.6 1.1 1.7 23% 25% 5.00 18% 24% 4.00 18% 3.00 6.1 5.9 5.7 5.2 5.1 4.7 2.00 1.00 - 2014 2015 2016 2017 2018 2019 Development Revenue Recurring Revenue Recurring as % of Total Re
Slide 6: Debt Profile
Debt Profile As of Dec-19 Floating Fixed Rupiah SGD 18% 20% Total Borrowings: Rp9.2tn 82% 79% USD 1% Maturity Profile (% of total debt) (Rp tn) 26% 2.5 2.0 Borrowing Cost* 12.7% 16% 16% 12.1% 11.7% 1.5 10.3% 10.2% 10.4% 13% 9% 1.0 8% 7% 4% 0.5 1% 0% 0.0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2
Slide 7: Capex Schedule
Capex Schedule Mall 38% Historical Capex Office for Lease Rp tn 3% 2.1 2.0 Hotel 12M19 1% 1.3 1.1tn 0.9 1.1 Others 14% Land for Development 44% 2015 2016 2017 2018 2019 • Increased mall capex due to the construction of CitraRaya Tangerang, CitraLand Surabaya, and Ciputra World Surabaya malls - Busin
Slide 8: Financial Highlights
Financial Highlights Revenue Gross Profit (Rp bn) (Rp bn) 3,724 3,628 3,792 3,330 3,290 7,514 7,670 7,608 2,997 6,340 6,739 6,443 53% 50% 49% 50% 47% 47% 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019 Gross Profit Gross Margin Net Profit Key Ratios (Rp bn) 1,685 1,645 2.0 2.2 1.9 1.9 1.
Slide 9: Balance Sheet Summary
Balance Sheet Summary Rp bn Dec 2019 Dec 2018 Dec 2017 Dec 2016 Assets 36,196 34,289 31,872 29,169 Cash & cash equivalents 4,238 3,243 3,240 3,471 Land 13,523 13,048 11,696 10,109 Fixed Assets 3,089 3,114 3,144 3,034 Investment Properties 5,373 4,962 4,762 4,908 Others 9,972 9,921 9,031 7,647 Liabil
Slide 10: Company Overview
Company Overview Eo CIPUTRA DEVELOPMENT TBK
Slide 11: One of Indonesia's Leading Property Developer
One of Indonesia’s Leading Property Developer Property Development for Sale Township Residential Condominium Office Core Business Commercial Property Development & Management Shopping Hotel Serviced Serviced Office Others Mall Apartment Apartment - Business Presentation 11
Slide 12: Geographically Diversified Project Portfolio
Geographically Diversified Project Portfolio Kalimantan CitraGrand Senyiur City Samarinda CitraLand Banjarmasin Over 75 projects CitraGarden City Samarinda CitraLand City Samarinda CitraGarden Banjarmasin CitraGarden Aneka Pontianak in 33 cities across Medan CitraMitra City Banjarbaru CitraCity Bali
Slide 13: Greater Jakarta Project Portfolio
Greater Jakarta Project Portfolio - Business Presentation 13
Slide 14: Marketing Sales Summary
Marketing Sales Summary Historical Presales Presales per Location (Rp bn) 2019 3M20 Greater Other Greater Surabaya Java Surabaya 7,640 23% 17% 21% Other 7,186 431 Java Sumatra 480 6,363 9% 10% 6,131 Greater 172 Greater Jakarta Sumatra 1,625 2,661 306 Sulawesi Jakarta 12% 48% 9% 38% Sulawesi 2,423 Ot
Slide 15: Marketing Sales Summary
Marketing Sales Summary Presales per Payment Method Presales per Unit Price 6% 10% 7% 6% 7% 15% 12% 15% 15% 17% 24% 21% 29% 30% 35% 40% 32% 32% 36% 37% 30% 21% 39% 24% 32% 53% 51% 49% 48% 48% 40% 43% 36% 34% 26% 2016 2017* 2018* 2019 3M20 2016 2017* 2018* 2019 3M20 Mortgage Instalment Cash < Rp1bn R
Slide 16: Sufficient Land Bank to Sustain >15 Years of Development
Sufficient Land Bank to Sustain >15 Years of Development Gross Land Land ASP Ownership Land ASP Trend Project Name Bank (Rp mn per sqm) Scheme Ha 2010-13 CAGR 2013-19 CAGR 2019 CitraRaya Tangerang 100% 756 63% 9% 4.3 CitraIndah Jonggol 100% 176 17% 13% 1.8 CitraGarden City Jakarta 100% 118 48% 5% 15
Slide 17: Rights to Additional Land Bank Through Joint-Operation Schemes
Rights to Additional Land Bank Through Joint-Operation Schemes Development Land ASP Development Land ASP Joint Operation Project Plan (Ha) (Rp mn per Joint Operation Project Plan (Ha) (Rp mn per sqm) sqm) Citra Sentul Raya 114 4.8 CitraGrand Senyiur City Samarinda 295 1.6 CitraLake Sawangan Depok 12
Slide 18: Apartment Assets – Strata Title
Apartment Assets – Strata Title Est. Unsold Ownership Saleable SGA Sold Construction Project Name Tower Stock Value Scheme (sqm) % Progress (Rp bn) Ciputra World Jakarta 1 Raffles Residence 100% 41,500 84% 396 100% The Orchard 31,000 93% 91 100% Ciputra World Jakarta 2 100% The Residence 14,000 97%
Slide 19: Office Assets – Strata Title and Leased
Office Assets – Strata Title and Leased Strata-Title Office Est. Unsold Ownership Saleable SGA Construction Project Name Tower Sold Stock Value Scheme (sqm) Progress (Rp bn) Ciputra World Jakarta 1 DBS Bank Tower 100% 20,300 85% 150 100% Ciputra World Jakarta 2 Tokopedia Tower 100% 28,000 82% 225 10
Slide 20: Future Mixed-Use Developments
Future Mixed-Use Developments Est. Saleable Ownership Project Name SGA Scheme (sqm) Ciputra World Jakarta 1 100% 110,000 Ciputra World Jakarta 2 100% 42,000 Ciputra World Jakarta 3 100% 99,000 New Project in Ciracas* JV - 60% 61,000 Ciputra International** JV - 55% 66,000 CitraLake Suites JV - 51% 1
Slide 21: Healthy Occupancy and Lease Expiry Profile for Malls
Healthy Occupancy and Lease Expiry Profile for Malls Mall Net Leasable Occupancy Rate • Total mall NLA of Area (sqm) 2015 2016 2017 2018 2019 200k m² with Ciputra World Jakarta 1 81,000 100% 100% 100% 100% 100% Ciputra World Surabaya 56,000 99% 95% 94% 92% 96% average occupancy Ciputra Mall Jakarta
Slide 22: Continued Strong Performance of Diversified Recurring Assets
Continued Strong Performance of Diversified Recurring Assets Revenue per Available Room (RevPAR) across Hotels Rp '000 Rooms 2015 2016 2017 2018 2019 % YoY Raffles Hotel (Ciputra World Jakarta 1) 173 - 813 1,520 1,428 1,421 0% Ciputra World Surabaya Hotel 212 419 482 504 452 461 2% Ciputra Hotel Jak
Slide 23: Growth Strategy and Project Highlights
Growth Strategy and Project Highlights
Slide 24: Key Developments
Key Developments • Launched new clusters/towers in 3 existing projects with a combined presales of Rp211bn (19% of 3M20 achievement) • Total 3M20 presales reached Rp1.1tn (17% of FY20 target) • Conducted an en bloc sale of 253 apartment units to Diener Syz Real Estate in Ciputra World Jakarta 2 • Bo
Slide 25: Growth Strategy
Growth Strategy • Retain healthy land bank levels (currently sufficient for >15 years of development) by continuously replenishing land bank in existing projects while searching for new strategic locations • Sustain wide geographical footprint (currently have a presence in 33 cities) to allow divers
Slide 26: New Projects 2019
New Projects 2019 CitraGarden Puri Jakarta Location Puri - West Jakarta Launch Oct 2019 Development plan 18.2 ha Market segment Middle and middle-up Pre-sales 2019 Rp 779 billion Selling price per unit Rp 466 million to Rp 3.2 billion Average unit selling price Rp 1.3 billion Average land selling pr
Slide 27: New Projects 2019
New Projects 2019 CitraLand Driyorejo CBD Location Driyorejo, Gresik, East Java Launch Jul 2019 Development plan 12 ha Market segment Middle and middle-low Pre-sales 2019 Rp 334 billion Selling price per unit Rp 571 million to Rp 6.8 billion Average unit selling price Rp 1.4 billion Average land sel
Slide 28: New Projects 2019
New Projects 2019 Citra Sentul Raya Location Sentul, South Greater Jakarta Launch Jul 2019 Development plan Phase 1: 114 ha out of 1,000 ha master plan Market segment Middle and middle-low Pre-sales 2019 Rp 332 billion Selling price per unit Rp 554 million to Rp 2.2 billion Average unit selling pric
Slide 29: Key Projects 2019
Key Projects 2019 CitraLand Surabaya Location West Surabaya Launch 1993 Development plan 1,700 ha (sold 732 ha) Market segment Middle to middle-high Pre-sales 2019 Rp 751 billion Selling price per unit Rp 364 million to Rp 8.0 billion Average unit selling price Rp 1.7 billion Average land selling pr
Slide 30: Key Projects 2019
Key Projects 2019 Pembangunan Kota Baru Terpadu Citra Maja Raya 2600 HA per Juni 2019 Citra Maja Raya Location Lebak, Banten, West Java Launch November 2014 Development plan 1,200 ha (sold 267 ha) Market segment Middle to middle-low Pre-sales 2019 Rp 549 billion Selling price per unit Rp 118 million
Slide 31: Key Projects 2019
Key Projects 2019 CitraRaya Tangerang Location Tangerang, West of Jakarta Launch 1994 Development plan 2,760 ha (sold 837 ha) Market segment Middle-low to middle-high Pre-sales 2019 Rp 482 billion Selling price per unit Rp 186 million to Rp 3.3 billion Average unit selling price Rp 861 million Avera
Slide 32: Key Projects 2019
Key Projects 2019 CitraLand City Losari Makassar Location Makassar, South Sulawesi Launch October 2015 Development plan 157 ha (sold 35 ha + 50 ha to government) Market segment Middle to high Pre-sales 2019 Rp 429 billion Selling price per unit Rp 432 million to Rp 20.5 billion Average unit selling
Slide 33: Key Projects 2019
Key Projects 2019 CitraLand Gama City Medan Location Medan, North Sumatra Launch Sep 2018 Development plan 123 ha out of 210ha masterplan Market segment Middle and middle-up Pre-sales 2019 Rp 298 billion Selling price per unit Rp 921 million to Rp 5.5 billion Average unit selling price Rp 2.6 billio
Slide 34: Key Projects 2019
Key Projects 2019 CitraLand Tallasa City Makassar Location Makassar, South Sulawesi Launch May 2017 Development plan 69 ha (sold 6 ha) Market segment Middle Pre-sales 2019 Rp 252 billion Selling price per unit Rp 636 million to Rp 3.5 billion Average unit selling price Rp 1.2 billion Average land se
Slide 35: Key Projects 2019
Key Projects 2019 CitraGarden City Jakarta Location Kalideres, West Jakarta Launch 1984 Development plan 444 ha (sold 364 ha) Market segment Middle to high Pre-sales 2019 Rp 205 billion Selling price per unit Rp 367 million to Rp 8.3 billion Average unit selling price Rp 3.5 billion Average land sel
Slide 36: Country Overview
Country Overview Eo CIPUTRA DEVELOPMENT TBK
Slide 37: Encouraging Macro Conditions
Encouraging Macro Conditions Robust economic growth accelerating middle class formation and increasing housing demand - Business Presentation 37
Slide 38: Favorable Population Structure
Favorable Population Structure More than half of the Indonesian population lives in Rising working age population urban areas since 2010 and it is estimated to reach leading to a reduction in almost three-quarters by 2050 dependency ratio and promoting economic growth - Business Presentation 38
Slide 39: Regulatory Support from the Government
Regulatory Support from the Government Increased Loan-to-Value (LTV) for mortgages (e.g. first mortgage LTV relaxed from 85% to 100%). Increased the threshold for the 20% luxury tax from Rp10bn to Rp30bn for Increased limit for indent mortgages (for apartments and from Rp20bn to Rp30bn units still u
Slide 40: Appendix
Appendix Eo CIPUTRA DEVELOPMENT TBK
Slide 41: New Corporate Structure Post Merger
New Corporate Structure Post Merger PT Sang Pelopor Public & Affiliates 52% 48% (18,560,303,397 shares @ Rp 250) 99.99% PT CIPUTRA RESIDENCE 98.33% PT CIPUTRA ADIGRAHA PT CIPUTRA RAYA 65.75% & Subsidiaries SEJAHTERA & Subsidiaries 99.99% PT CIPUTRA NUSANTARA 99.84% PT SARANANEKA INTERNATIONAL CITY 7
Slide 42: Corporate Milestones
Corporate Milestones Capital raising & corporate actions -> Strengthening our financial position to support business expansion 2006 : - Issuance of 2.4 billion shares without pre-emptive rights for debt settlement - Rights Issue II 2007 : IPO of PT Ciputra Property Tbk (CTRP) 2015 : Share dividend d
Slide 43: Competitive Strength
Competitive Strength BUSINESS PROSPECT Increase in Change in Availability in Potential Stable Urbanization Government housing customers’ mortgage economic political trends stimulus plan needs lifestyle facility growth outlook We are well positioned in Indonesia’s Focus on real estate business curren
Slide 44: Experienced Management Team
Experienced Management Team Board of Commissioners Board of Directors DR. Ir. Ciputra Dian Sumeler Rina Ciputra S. Junita Ciputra Candra Ciputra Cakra Ciputra Budiarsa Sastrawinata Harun Hajadi Chairman President Sandra Hendharto Kodradi Henk Wangitan Thomas Bambang Agussurja Widjaja MI Meiko Handoj
Slide 45: Corporate Secretary
Investor Relations Corporate Secretary PT. CIPUTRA DEVELOPMENT TBK Ciputra World 1 DBS Bank Tower 39th Floor Jl. Prof. DR. Satrio Kav. 3-5 Jakarta 12940 - INDONESIA Phone : +62 21 29885858 / 6868 Fax : +62 21 29888787 Email : investor@ciputra.com Website : www.ciputradevelopment.com - Business Prese
Slide 46: Disclaimer
Disclaimer Any person obtaining this Presentation material, will be deemed to have understood and agreed to the obligations and restrictions herein. The content of this material are provided on a strictly private confidential basis and shall be the proprietary of PT. CIPUTRA DEVELOPMENT Tbk. Informa
Slide 47: Notes
Notes - Business Presentation 47
Slide 48: PT Ciputra Development Tbk
@ PT Ciputra Development Tbk