Pt Ciputra Development Tbk · IDX:CTRA
Pt Ciputra Development Tbk — 3M25 Earnings Presentation
65 slides from Pt Ciputra Development Tbk's earnings presentation, April 2025
Slide 1: Results Presentation 3M25
Results Presentation 3M25 1
Slide 2: Contents
Contents • Key Highlights • Company Overview • Growth Strategy and Project Highlights • Financial Results • Country Overview 2
Slide 3: Key Highlights
Key Highlights
Slide 4: Key Highlights – Solid Foundation for FY25
Key Highlights – Solid Foundation for FY25 Resilient Start with Rp3.2 trillion marketing sales Successful launches in 3M25 with a total contribution (29% of FY25 target) of Rp719 billion marketing sales from 385 units Marketing Sales (Rpbn) New Launches Marketing Sales Units Sold +8% 11,017 11,000 1
Slide 5: Key Highlights - Consistent Improvement in Investment Properties
Key Highlights - Consistent Improvement in Investment Properties Improving operations in all shopping malls Consistent growth of RevPAR in all hotel assets Mall Revenue (Rpbn) ARR (Rp’000) Revenue Rp187bn +7% (-1% YoY) 665 711 ARR Rp711,000 -1% 188 187 (+7% YoY) 3M24 3M25 3M24 3M25 • 91% Occupancy f
Slide 6: Key Highlights - Organic Expansion of Investment Properties
Key Highlights - Organic Expansion of Investment Properties Hospital Operational Beds Malls Net Leasable Area (‘000 sqm) Beds CAGR NLA CAGR +10% 736 686 +8% 50 364 616 70 516 546 70 100 486 30 264 416 30 70 2023 2024 2025F 2026F 2027F 2028F 2029F 2025 2029F • Stable pipeline of healthcare assets by
Slide 7: Key Highlights - Asset Valuation Highlights Growth Potential
Key Highlights - Asset Valuation Highlights Growth Potential Fair Value Direct Ownership Rp53.2tn Property Development Joint-Operation Rp68.3tn Adjusted Fair Value Rp80.7tn Rp15.1tn = Number of Shares 18,535,695,255 Investment = Rp4,355 / share Property Rp17.7tn • Fair Value Basis: CTRA’s fair value
Slide 8: Key Highlights - Affordable Mortgage Environment
Key Highlights - Affordable Mortgage Environment BI Rate vs. Mortgage Rate¹ Indonesian House Financing (12M24) 12.0% 11.4% 11.0% 10.3% 10.0% 9.0% 8.0% 7.50% 6.86%2 7.0% 5.75% 6.00% Instalment 6.0% 5.0% 4.25% 5.75%³ 19% 3.50% Mortgage 4.0% 3.0% 72% Cash 2.0% 9% 1.0% 0.0% Mortgage Rate¹ Benchmark Rate
Slide 9: Key Highlights - Supportive Government Regulation (VAT Exemption)
Key Highlights - Supportive Government Regulation (VAT Exemption) The government provides VAT exemption for houses, shophouses, and apartments up to a maximum price of Rp5.0bn per unit, exempting the VAT on the first Rp2.0bn of the unit’s value. VAT Exemption Period 100% Jan – Jun 2025 50% Jul – Dec
Slide 10: Company Overview
Company Overview 14
Slide 11: Ciputra at a Glance
Ciputra at a Glance Footprints Financial Highlights Number of Green Building Directly Owned Total Assets (3M25) EBITDA (3M25) Projects Certifications Land Bank Rp46.6tn Rp1.0tn >89 7 2,009 Ha Revenue (3M25) ROAE (3M25) Employees 57% JO Development Rp2.7tn 12.3% 4,935 Plan Net Profit (3M25) Net Profi
Slide 12: One of Indonesia's Leading Property Developers
One of Indonesia’s Leading Property Developers Property Development Commercial Property Development & Management Malls - 5 projects Townships & Residential - 69 projects Hotels - 9 projects Condominiums - 11 projects Healthcare - 4 projects Offices for Sale - 8 projects Offices for Lease - 4 project
Slide 13: Geographically Diversified Project Portfolio
Geographically Diversified Project Portfolio Kalimantan Over 89 projects CitraGrand Senyiur City Samarinda CitraLand Banjarmasin CitraGarden City Samarinda CitraGarden Banjarmasin in 34 cities across Medan CitraLand City Samarinda CitraGarden Aneka Pontianak Sumatra CitraMitra City Banjarbaru CitraC
Slide 14: Greater Jakarta Project Portfolio
Greater Jakarta Project Portfolio 18
Slide 15: Strong Growth and Geographically Diversified Marketing Sales
Strong Growth and Geographically Diversified Marketing Sales Historical Presales Presales per Location (Rpbn) 2024 3M25 11,017 11,000 10,241 Greater Surabaya Greater 23% Surabaya Other Java 25% 8,243 8% Greater Jakarta Other Java 6,675 6,540 Greater Sumatra 49% 7% Jakarta 6,954 40% 19% Sumatra Sulaw
Slide 16: Expanding Middle-Upper Segment Financing with Mortgage
Expanding Middle-Upper Segment Financing with Mortgage Presales per Payment Method Presales per Unit Price 6% 11% 15% 13% 16% 20% 21% 19% 19% 25% 11% 9% 35% 18% 15% 18% 40% 43% 41% 44% 34% 70% 72% 62% 63% 25% 32% 31% 58% 29% 25% 19% 15% 15% 11% 2021 2022 2023 2024 3M25 2021 2022 2023 2024 3M25 Mortg
Slide 17: Sufficient Land Bank to Sustain >15 Years of Development
Sufficient Land Bank to Sustain >15 Years of Development Ownership Gross Land Bank 3M2025 Average Project Name Scheme 2024 (Ha) Unit Price (Rpbn) CitraRaya Tangerang 100% 713 0.9 CitraIndah City Jonggol 100% 137 0.5 CitraGarden City Jakarta 100% 28 3.5 CitraLand Cibubur JV - 60% 78 1.2 Total Greater
Slide 18: Rights to Additional Land Bank Through Joint-Operation Schemes
Rights to Additional Land Bank Through Joint-Operation Schemes Gross Landbank 3M2025 Average Gross Landbank 3M2025 Average Joint Operation Project Joint Operation Project 2024 (Ha) Unit Price (Rpbn) 2024 (Ha) Unit Price (Rpbn) Citra Sentul Raya 6 1.9 CitraGrand Senyiur City Samarinda 115 0.7 CitraLa
Slide 19: Apartment Assets – Strata Title
Apartment Assets – Strata Title Est. Unsold Ownership Saleable SGA Sold Construction Project Name Tower Stock Value Scheme (sqm) % Progress (Rpbn) Ciputra World Jakarta 1 Raffles Residence 100% 41,500 85% 337 100% The Orchard 31,000 94% 76 100% Ciputra World Jakarta 2 100% The Residence 14,000 96% 2
Slide 20: 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 (Rpbn) Ciputra World Jakarta 1 DBS Bank Tower 100% 21,200 96% 43 100% Ciputra World Jakarta 2 Tokopedia Tower 100% 28,000 84% 208 100%
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% 64,200 Citra Landmark* JV - 60% 61,000 Ciputra International** JV - 55% 12,000 Citra Towers Kemayoran JO Profit -
Slide 22: Healthy Occupancy and Lease Expiry Profile for Malls
Healthy Occupancy and Lease Expiry Profile for Malls Net Leasable Occupancy Rate Mall Area (sqm) 2021 2022 2023 2024 3M25 Ciputra World Jakarta 1 79,500 100% 100% 100% 100% 100% Ciputra World Surabaya 93,400 90% 74%¹ 77%¹ 75%2 79%2 Total mall NLA of 264k sqm Ciputra Mall Jakarta 41,800 82% 89% 93% 9
Slide 23: Well-Diversified Mall Tenants with Reputable Brands
Well-Diversified Mall Tenants with Reputable Brands Mall Tenants Breakdown (% Leased Area) Main Tenants Supermarket 7% Services Department Store 4% 15% Healthy & Beauty 9% Entertainment & Leisure 18% General 14% Fashion and F&B Accessories 14% 19% 28
Slide 24: Consistent Hotel Growth Amidst Normalization Post-COVID Period
Consistent Hotel Growth Amidst Normalization Post-COVID Period Revenue per Available Room (RevPAR) (in Rp’000 /room/day) +7% 1,813 1,569 1,648 1,546 1,425 Star Hotels 1,085 -10% +3% -2% 523 601 561 575 592 455 466 419 490 505 507 523 400 432 421 401 223 271 2021 2022 2023 2024 3M24 3M25 2021 2022 20
Slide 25: Integrated Healthcare Facilities within Township Projects
Integrated Healthcare Facilities within Township Projects (Rp bn) (Rp bn) Ciputra Hospital Ciputra Hospital Ciputra Mitra Tangerang Jakarta Hospital Revenue - Inpatient Revenue - Outpatient 600 600 500 441 -27% 1% 15% 500 375 -27% 400 327 400 340 -1% 14% 323 281 300 300 249 247 7% 9% 200 200 94 101
Slide 26: Ciputra Hospital Surabaya Expansion Overview
Ciputra Hospital Surabaya Expansion Overview Ciputra Hospital Surabaya Township & location CitraLand Surabaya at West Surabaya Start operation August 2024 Maximum capacity 200 beds Operational capacity 70 beds Capital expenditure Rp520billion Center of Excellence Cardiology, Oncology, Neurosurgery A
Slide 27: Growth Strategy and Project Highlights
Growth Strategy and Project Highlights
Slide 28: Key Developments
Key Developments 1 2 3 Launched >15 new clusters in 3M25 presales: Rp3.2tn Recognition in Sustainability 16 existing projects Achievement Combined presales of Rp0.7tn Total 3M25 presales reached • 7 green building certifications (23% of 3M25 achievement) Rp3.2tn (29% of 2025 target) • 4 ESG awards •
Slide 29: Growth Strategy
Growth Strategy Retain healthy land bank levels Wide geographical footprint Increase portion of recurring income Continuously replenishing land bank in Allow diversification of products While simultaneously boost synergy by existing projects while searching for and target market while focusing on co
Slide 30: Creating Value to Stakeholders through Sustainability Pillars
Creating Value to Stakeholders through Sustainability Pillars Sustainability Pillars Material Topic UN SDGs Economic Performance Spirit of Excellence and Innovation Indirect Economic Impact Occupational Health and Safety Building Cities, Building Lives Employment Practices Consumer Health and Safety
Slide 31: Sustainability Achievements
Sustainability Achievements Sustainability Metrics 2024 Key Recognitions IDX ESG Leaders Index since 2020 195,373 MWh 7 165,774 ton CO2eq Electricity consumption level Green building certifications GHG Emissions ESG Sector Leaders IDX KEHATI Index since 2021 ESG Quality 45 IDX KEHATI Index 21,471 2,
Slide 32: First Green Loan: A Sustainability Milestone
First Green Loan: A Sustainability Milestone • Marks a milestone in Ciputra’s sustainability journey. Green Loan Detail • Demonstrates commitment to Environmental, Social, Facility Amount Rp950bn and Governance (ESG) principles. Tenor 7 years • Compliance with Green Standard which has been verified
Slide 33: Commitment to Achieve UN SDGs
Commitment to Achieve UN SDGs UN SDGs Commitment Performed UN SDGs Commitment Performed • Distribution of basic needs assistance to the underprivileged • New projects brought indirect economic impact on local, national, and communities surrounding the Company’s project which is carried out on overse
Slide 34: Key Projects 2025 - CitraGarden Bintaro
Key Projects 2025 CitraGarden Bintaro Project scheme & location Joint operation in South of Jakarta Launch November 2023 Development plan 28 ha Market segment Middle-low to middle-up Presales 3M2025 Rp708billion House price range Rp1.4billion to Rp5.1billion Average unit price Rp2.6billion Units sol
Slide 35: Key Projects 2025 - CitraLand Surabaya
Key Projects 2025 CitraLand Surabaya Project scheme & location Directly owned in West Surabaya Launch 1993 Development plan 1,700 ha (sold 814 ha) Market segment Middle to middle-high Presales 3M2025 Rp476billion House price range Rp920million to Rp8.1billion Average unit price Rp3.8billion Units so
Slide 36: Key Projects 2025 - CitraGarden Serpong
Key Projects 2025 CitraGarden Serpong Project scheme & location Joint operation in Tangerang, West of Jakarta Launch February 2023 Development plan 120 ha out of 350 ha masterplan Market segment Middle-low to middle-high Presales 3M2025 Rp228billion House price range Rp894million to Rp3.2billion Ave
Slide 37: Key Projects 2025 - Citra City Sentul
Key Projects 2025 Citra City Sentul Project scheme & location Joint operation in Sentul, South Greater Jakarta Launch October 2023 Development plan 400 ha Market segment Middle-low to middle-high Presales 3M2025 Rp151billion House price range Rp883million to Rp6.8billion Average unit price Rp2.5bill
Slide 38: Key Projects 2025 - CitraRaya Tangerang
Key Projects 2025 CitraRaya Tangerang Project scheme & location Directly owned in Tangerang, West of Jakarta Launch 1994 Development plan 2,760 ha (sold 895 ha) Market segment Middle-low to middle-high Presales 3M2025 Rp145billion House price range Rp150million to Rp2.2billion Average unit price Rp8
Slide 39: Key Projects 2025 - CitraLand Gama City Medan
Key Projects 2025 CitraLand Gama City Medan Project scheme & location Joint operation in Medan, North Sumatra Launch February 2013 Development plan 123 ha out of 211 ha masterplan Market segment Middle and middle-up Presales 3M2025 Rp134billion House price range Rp1.3billion to Rp7.5billion Average
Slide 40: Key Projects 2025 - CitraGarden City Jakarta
Key Projects 2025 CitraGarden City Jakarta Project scheme & location Directly owned in Kalideres, West Jakarta Launch 1984 Development plan 454 ha (sold 371 ha) Market segment Middle to high Presales 3M2025 Rp113billion House price range Rp1.9billion to Rp6.0billion Average unit price Rp3.5billion U
Slide 41: Key Projects 2025 - CitraLand The GreenLake Surabaya
Key Projects 2025 CitraLand The GreenLake Surabaya Project scheme & location Joint operation in Surabaya, East Java Launch July 2013 Development plan 42 ha (sold 18 ha) Market segment Middle and middle up Presales 3M2025 Rp92billion House price range Rp2.4billion to Rp4.5billion Average unit price R
Slide 42: Key Projects 2025 - CitraGarden Sidoarjo
Key Projects 2025 CitraGarden Sidoarjo Project scheme & location Joint venture in Sidoarjo, South Greater Surabaya Launch August 2005 Development plan 58 ha Market segment Middle Presales 3M2025 Rp84billion House price range Rp1.7billion to Rp4.6billion Average unit price Rp2.7billion Units sold 36
Slide 43: Key Projects 2025 - CitraLand City CPI Makassar
Key Projects 2025 Jarak Proyek: Pelabuhan: 2.6 km; Bandara: 20.2 km Trans Studio Mal: 1.8 km; Pantai Losari: 550 m CitraLand City CPI Makassar Project scheme & location Joint operation in Makassar, South Sulawesi Launch October 2015 Development plan 157 ha (sold 35 ha + 50 ha to government) Market s
Slide 44: Financial Results
Financial Results a aS
Slide 45: Results Summary (Income Statement)
Results Summary (Income Statement) (Rpbn) 3M25 3M24 % YoY Effect of +23.2% YoY in Property Development segment and +1.3% Revenue 2,732 2,316 17.9% YoY in Recurring segment COGS (1,331) (1,138) 16.9% Gross Profit 1,401 1,178 19.0% Gross Profit Margin 51.3% 50.9% Effect of product mix Operating Expens
Slide 46: Results Summary (Revenue Breakdown and Margin Performance)
Results Summary (Revenue Breakdown and Margin Performance) (Rpbn) 3M25 3M24 % YoY Revenue Breakdown Property Development Revenue 2,171 1,762 23.2% Houses, shophouses, and land lots 2,127 1,568 35.6% Apartments 23 89 -74.0% Office for sale 21 105 -79.8% Recurring Revenue 561 554 1.3% Shopping malls 1
Slide 47: Focusing on Property Development and Minimizing Concentration Risk
Focusing on Property Development and Minimizing Concentration Risk Revenue per Segment (3M25) Revenue per Location (3M25) Greater Surabaya Office Strata 32% 1%Apartment Strata Other 1% Shopping Malls Java 7% 6% Hotels 4% Sumatra Houses, Healthcare 12% shophouses, 6% Others and land lots 3% Sulawesi
Slide 48: Solid Development Revenue Combined by Stable Recurring Revenue
Solid Development Revenue Combined by Stable Recurring Revenue Rp tn Development vs. Recurring Revenue 12.0 11.0 10.0 2.3 9.0 1.7 8.0 1.9 2.1 7.0 1.5 23% 21% 20% 6.0 21% 5.0 18% 8.9 4.0 8.0 17% 6.6 7.2 7.1 3.0 0.6 2.0 1.0 2.2 - 2020 2021 2022 2023 2024 3M25 Development Revenue Recurring Revenue Recu
Slide 49: Debt Profile
Debt Profile Floating Rupiah As of Mar-25 Fixed 77% SGD 77% 23% Total Borrowings: Rp7.9tn 23% Borrowing Cost* Maturity Profile (% of total debt) (Rptn) 12.0% 5.0 10.2% 10.4% 53% 4.5 10.0% 8.4% 8.3% 8.3% 8.3% 4.0 8.0% 7.4% 3.5 3.0 6.0% 2.5 2.0 4.0% 16% 1.5 11% 12% 2.0% 1.0 4% 2% 2% 0.5 1% 0.0% 0.0 20
Slide 50: Selective Land Banking and Expanding Investment Properties
Selective Land Banking and Expanding Investment Properties Historical Capex 2.8 Hospital Rptn 8% Mall Land for 2% Development 3M25 74% 0.3tn Others 16% 1.1 1.1 0.8 0.8 0.7 0.3 2019 2020 2021 2022 2023 2024 3M25 55
Slide 51: Resilient Financial Performance with Continuous Growth
Resilient Financial Performance with Continuous Growth Revenue Gross Profit 11,188 9,730 9,245 9,127 5,263 8,071 4,840 4,568 4,559 4,121 51% 51% 51% 50% 50% 49% 2,732 1,178 1,401 2,316 47% 2020 2021 2022 2023 2024 3M24 3M25 2020 2021 2022 2023 2024 3M24 3M25 Gross Profit Gross Margin Net Profit Key
Slide 52: Balance Sheet Summary
Balance Sheet Summary Rpbn Mar 2025 Dec 2024 Dec 2023 Dec 2022 Dec 2021 Dec 2020 Assets 46,581 47,023 44,115 42,033 40,668 39,255 Cash & cash equivalents 9,738 10,195 10,601 9,050 7,162 5,276 Land 17,505 17,530 15,296 14,495 14,538 14,471 Fixed Assets 3,041 3,042 2,835 2,691 2,504 2,595 Investment P
Slide 53: Country Overview
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Slide 54: Encouraging Macro Conditions
Encouraging Macro Conditions Real GDP Growth 5.03% 5.07% 5.17% 5.02% 5.31% 5.05% 5.03% Solid economic growth accelerating 3.69% middle class formation and increasing housing demand Home Ownership Loan Outstanding (Rptn) -2.07% 2016 2017 2018 2019 2020 2021 2022 2023 2024 800 20.0% 700 Housing Loan a
Slide 55: Property Price Index
Property Price Index Source of Consumer Financing (12M24) • Mortgage consistently being Indonesian customers’ preference, even with increased interest rate due to inflation. Instalment • There is an imperfect correlation between mortgage rate and 19% Mortgage benchmark rate. 72% • The composite Resi
Slide 56: Favorable Population Structure
Favorable Population Structure Percentage of population in urban and rural areas Population by Age Group and 100% Dependency Ratio 90% 51.1 80% 47.5 47.7 70% 60% 5.0% 6.3% 9.2% 50% 40% 66.2% 67.8% 67.7% 30% 20% 10% 28.8% 25.9% 23.1% 0% 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010
Slide 57: Regulatory Support from the Government
Regulatory Support from the Government Increased maximum Loan-to-Value (LTV) to Allowed foreigners to own apartments over 100% for all mortgages. Hak Guna Bangunan (HGB) land. Increased limit for mortgages for units under Relaxed the permit requirements for foreigners construction from 2 to 5. to be
Slide 58: Appendix
Appendix
Slide 59: Corporate Structure
Corporate Structure PT Sang Pelopor Public 53.31% 46.69% (18,535,695,255 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 7.43% & Subsidiaries IND
Slide 60: Corporate Milestones
Corporate Milestones 2006 : - Issuance of 2.4 billion shares 2017 : - Merger with CTRS and CTRP without pre-emptive rights for - Issuance of MTN - SGD150 million 1994 : IPO and listing on JSX 1997 : Economic crisis hit debt settlement 2020 : - Included in IDX ESG Leaders Index 1995 : Issuance of Not
Slide 61: We are well positioned in Indonesia's current property outlook
We are well positioned in Indonesia’s current property outlook Company’s Strengths Business Prospects Focus on real estate business Increase in housing needs Urbanization trends Most diversified in market targets, products offered & project locations Change in customers’ lifestyle Large land bank at
Slide 62: Experienced Management Team - Board of Commissioners
Experienced Management Team - Board of Commissioners Rina Ciputra Sastrawinata Kodradi - Chairman - Independent member Tanan H. Antonius Junita Ciputra - Independent member Thomas Bambang Sandra Hendharto - Independent member 67
Slide 63: Experienced Management Team - Board of Directors
Experienced Management Team - Board of Directors Candra Ciputra - President Artadinata Djangkar Budiarsa Sastrawinata MI Meiko Handoyo Harun Hajadi Nanik J. Santoso Cakra Ciputra Sutoto Yakobus Agussurja Widjaja Tulus Santoso - Corporate Secretary 68
Slide 64: 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 65: Thank you
Thank you For enquiries, please contact: Aditya Ciputra Sastrawinata, Head of Investor Relations investor@ciputra.com PT Ciputra Development Tbk Ciputra World 1, DBS Bank Tower 39th Floor Jl. Prof. Dr. Satrio Kav. 3-5, Jakarta 12940 – Indonesia (6221) 2988 5858 www.ciputradevelopment.com