Slide 1: Results Presentation (3M20)
Results Presentation (3M20)
Slide 2: Results Summary (Income Statement)
Results Summary (Income Statement) (Rp bn) 3M20 3M19 % YoY Effect of -12% YoY in Property Development Revenue 1,510 1,647 -8% segment and +1% YoY in Recurring segment COGS (802) (793) 1% Gross Profit 708 854 -17% Gross Profit Margin 47% 52% Effect of product mix Operating Expense (373) (347) 8% Oper
Slide 3: Results Summary (Revenue Breakdown and Margin Performance)
Results Summary (Revenue Breakdown and Margin Performance) (Rp bn) 3M20 3M19 % YoY Revenue Breakdown Property Development Revenue 1,057 1,199 -12% Houses, shophouses, and land lots 821 941 -13% Apartments 15 145 -89% Adoption of new accounting standard affecting apartment and office revenue Office f
Slide 4: Results Summary (Revenue per Segment and per Location)
Results Summary (Revenue per Segment and per Location) Revenue per Segment (3M20) Revenue per Location (3M20) Apartment Greater Strata Surabaya Office Strata 1% Shopping 16% 15% Malls 13% Hotels 6% Other Java 19% Others 11% Sumatra Houses, 5% Greater Jakarta shophouses, and Sulawesi 56% land lots Ot
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 6.00 1.6 1.7 25% 30% 5.00 23% 27% 4.00 18% 24% 3.00 6.1 5.9 5.7 5.1 4.7 2.00 0.5 1.00 1.1 - 2015 2016 2017 2018 2019 3M20 Development Revenue Recurring Revenue Recurring as % of Total Re
Slide 6: Debt Profile
Debt Profile As of Mar-20 Floating Fixed Rupiah SGD 81% 19% 77% Total Borrowings: Rp9.4tn 22% 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 19% Historical Capex Rp tn 2.1 2.0 Hospital 3M20 3% Hotel 1.3 Land for 0.3tn 1% 0.9 1.1 Development 65% 0.3 Others 12% 2015 2016 2017 2018 2019 3M20 • 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 7,670 7,608 3,290 7,514 2,997 6,739 6,443 52% 50% 50% 49% 47% 47% 47% 854 708 1,647 1,510 2015 2016 2017 2018 2019 3M19 3M20 2015 2016 2017 2018 2019 3M19 3M20 Gross Profit Gross Margin Net Profit Key Ratios (Rp bn) 2.2 2.3
Slide 9: Balance Sheet Summary
Balance Sheet Summary Rp bn Mar-20 Dec 2019 Dec 2018 Dec 2017 Assets 37,870 36,196 34,289 31,872 Cash & cash equivalents 4,243 4,238 3,243 3,240 Land 13,634 13,523 13,048 11,696 Fixed Assets 3,032 3,089 3,114 3,144 Investment Properties 5,426 5,373 4,962 4,762 Others 11,536 9,972 9,921 9,031 Liabili
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 Ownershi Gross Land Land ASP Land ASP Trend Project Name p 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% 1
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% 89 100% 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% 221 10
Slide 20: Apartment and Office Completion Schedule
Apartment and Office Completion Schedule Apartment Strata-Title (SGA ‘000 sqm) 25.3 24.8 22.5 163.7 6.7 22.7 15.8 8.5 19.8 17.6 Total Apartment Ciputra International Vida View Makassar CitraLand Surabaya Ciputra World CitraPlaza Nagoya Ciputra World Jakarta Barsa City Yogyakarta CitraLand City Losar
Slide 21: 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 22: 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) 2016 2017 2018 2019 3M20 Ciputra World Jakarta 1 81,000 100% 100% 100% 100% 100% 200k m² with Ciputra World Surabaya 56,000 95% 94% 92% 96% 96% average occupancy Ciputra Mall Jakarta
Slide 23: Continued Strong Performance of Diversified Recurring Assets
Continued Strong Performance of Diversified Recurring Assets Revenue per Available Room (RevPAR) across Hotels Rp '000 Rooms 2016 2017 2018 2019 3M19 3M20 % YoY Raffles Hotel (Ciputra World Jakarta 1) 173 813 1,520 1,428 1,421 1,307 1,058 -19% Ciputra World Surabaya Hotel 212 482 504 452 461 387 307
Slide 24: Growth Strategy and Project Highlights
Growth Strategy and Project Highlights
Slide 25: 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 26: 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 27: Key Projects 2020
Key Projects 2020 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 3M20 Rp 208 billion Selling price per unit Rp 548 million to Rp 2.7 billion Average unit selling pric
Slide 28: Key Projects 2020
Key Projects 2020 CitraRaya Tangerang Location Tangerang, West of Jakarta Launch 1994 Development plan 2,760 ha (sold 847 ha) Market segment Middle-low to middle-high Pre-sales 3M20 Rp 116 billion Selling price per unit Rp 174 million to Rp 2.6 billion Average unit selling price Rp 907 million Avera
Slide 29: Key Projects 2020
Key Projects 2020 CitraLand Surabaya Location West Surabaya Launch 1993 Development plan 1,700 ha (sold 741 ha) Market segment Middle to middle-high Pre-sales 3M20 Rp 89 billion Selling price per unit Rp 506 million to Rp 8.0 billion Average unit selling price Rp 4.2 billion Average land selling pri
Slide 30: Key Projects 2020
Key Projects 2020 CitraGarden City Jakarta Location Kalideres, West Jakarta Launch 1984 Development plan 444 ha (sold 366 ha) Market segment Middle to high Pre-sales 3M20 Rp 74 billion Selling price per unit Rp 421 million to Rp 9.1 billion Average unit selling price Rp 2.6 billion Average land sell
Slide 31: Key Projects 2020
Key Projects 2020 CitraLand Gama City Medan Location Medan, North Sumatra Launch Sep 2018 Development plan 123 ha out of 210 ha masterplan Market segment Middle and middle-up Pre-sales 3M20 Rp 71 billion Selling price per unit Rp 821 million to Rp 5.3 billion Average unit selling price Rp 2.9 billio
Slide 32: Key Projects 2020
Key Projects 2020 CitraLand Tallasa City Makassar Location Makassar, South Sulawesi Launch May 2017 Development plan 69 ha (sold 11 ha) Market segment Middle Pre-sales 3M20 Rp 57 billion Selling price per unit Rp 635 million to Rp 3.5 billion Average unit selling price Rp 1.6 billion Average land se
Slide 33: Key Projects 2020
Key Projects 2020 CitraIndah City Jonggol Location South Greater Jakarta Launch 1997 Development plan 780 ha (sold 527 ha) Market segment Middle and middle low Pre-sales 3M20 Rp 49 billion Selling price per unit Rp 149 million to Rp 1.3 billion Average unit selling price Rp 311 million Average land
Slide 34: Key Projects 2020
Key Projects 2020 CitraLand Driyorejo CBD Location Driyorejo, Gresik, East Java Launch Jul 2019 Development plan 12 ha Market segment Middle and middle-low Pre-sales 3M20 Rp 41 billion Selling price per unit Rp 713 million to Rp 2.7 billion Average unit selling price Rp 1.3 billion Average land sell
Slide 35: Key Projects 2020
Key Projects 2020 CitraGrand Semarang Location Semarang, Central Java Launch September 2012 Development plan 55 ha (sold 16 ha) Market segment Middle and middle up Pre-sales 3M20 Rp 40 billion Selling price per unit Rp 225 million to Rp 3.5 billion Average unit selling price Rp 1.3 billion Average l
Slide 36: Key Projects 2020
Key Projects 2020 CitraLand BSB City Semarang Location Semarang, Central Java Launch February 2013 Development plan 100 ha (sold 16 ha) Market segment Middle and middle up Pre-sales 3M20 Rp 31 billion Selling price per unit Rp 330 million to Rp 3.3 billion Average unit selling price Rp 779 million A
Slide 37: Country Overview
Country Overview Eo CIPUTRA DEVELOPMENT TBK
Slide 38: Encouraging Macro Conditions
Encouraging Macro Conditions Robust economic growth accelerating middle class formation and increasing housing demand - Business Presentation 38
Slide 39: 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 39
Slide 40: 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 41: Appendix
Appendix Eo CIPUTRA DEVELOPMENT TBK
Slide 42: 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 43: 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 44: 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 45: 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 46: 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 47: 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 48: PT Ciputra Development Tbk
PT Ciputra Development Tbk