Pt Lippo Cikarang Tbk · IDX:LPCK
Pt Lippo Cikarang Tbk — FY2020 Earnings Presentation
31 slides from Pt Lippo Cikarang Tbk's earnings presentation, May 2021
Slide 1: PT Lippo Cikarang Tbk 2020 Results Presentation
PT Lippo Cikarang Tbk 2020 Results Presentation May 2021
Slide 2: Contents
Contents Shareholder Structure 03 - 04 2020 Financial Data 05 – 12 Meikarta 13 – 19 Projects Data 20 – 22 Lippo Cikarang Map and Corporate Structure 23 - 25 Appendix 26 - 31
Slide 3: Shareholder Structure
Shareholder Structure 3
Slide 4: Shareholder Structure
Shareholder Structure As of 31 December 2020 As of 31 December 2019 No. of No. of Change No. Description No. of Shares % No. of Shares % Investors Investors YTD (%) I. Domestic Individual 6,063 262,941,625 9.8% 6,779 244,925,625 9.1% 7.4% Foundation 1 12,500 0.0% 1 12,500 0.0% 0.0% Pension Fund 17 6
Slide 5: 2020 Financial Data
2020 Financial Data 5
Slide 6: Key Financial Highlights
Key Financial Highlights FY20 FY19 Change (%) Presales (Rp billion) 1,015 1,030 -1% Revenue (Rp billion) 1,844 1,695 9% Recurring Revenue (Rp billion) 383 368 4% EBITDA (Rp billion) 445 497 -10% EBITDA Margin 24.1% 29.3% N.A. Net Income (Rp billion) (3,654) 311 -1275% Net Debt/Equity Ratio (X) 0.05
Slide 7: Summary of balance sheet and marketing sales
Summary of balance sheet and marketing sales Balance Sheet (Rp Billion) Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 Assets 5,727 11,267 9,226 12,219 9,725 Debt - 249 - 200 977 Liability 1,483 4,734 1,696 1,337 3,145 Equity 4,244 6,533 7,530 10,882 6,579 Return on Assets (%) 9.4% -7.3% 21.3% 2.5% -3
Slide 8: Balance Sheet
Balance Sheet ASSETS FY20 FY19 LIABILITIES & STOCKHOLDERS' EQUITY FY20 FY19 Current Assets Current Liabilities Cash & Cash Equivalent 635 523 Bank Loan 500 200 Account Receivable 21 267 Accounts Payable 84 114 Available for Sale Financial Assets 169 230 Accrued Exp. & Taxes Payable 181 206 Inventori
Slide 9: Underleveraged balance sheet
Underleveraged balance sheet Total Assets (Rp Bn) Total capitalization (Rp Bn) 14,000 12,000 200 312 12,000 10,000 10,000 2,523 4,928 8,000 8,000 578 121 3,348 223 977 2,896 249 75 238 523 6,000 6,000 623 1,690 635 16 10,570 1,739 4,000 4,000 8,045 7,297 6,458 6,342 5,078 5,725 2,000 3,967 2,000 - -
Slide 10: Revenue Breakdown Reflects Shift to Residential
Revenue Breakdown Reflects Shift to Residential (in Rp bn, unless stated otherwise) 4Q20 4Q19 YoY change % 2020 2019 YoY change % Total revenue 252 634 (382) -60% 1,844 1,695 150 9% COGS (184) (372) 188 -51% (1,138) (1,014) (125) 12% Gross Profit 68 262 (194) -74% 706 681 25 4% Operating Expenses (6
Slide 11: Impact of One-offs Consists of Non-Cash Adjustments
Impact of One-offs Consists of Non-Cash Adjustments Primarily to account for investment value and DINFRA investment of Rp2.8tr Item Principle Description Amount Outlook (Rp tr) Inventory Independent Market valuator Infrastructure in Cikarang 0.9 - Fully realized - Invesment in Associates (PSAK 15) P
Slide 12: Income statement highlights
Income statement highlights Property marketing sales (RpBn) Revenue (RpBn) 16 - 39 52 1 - 81 340 77 291 285 383 327 368 66 12 130 33 857 367 54 135 123 387 71 87 8 54 54 935 177 673 1,129 935 825 1,265 2017 2018 2019 2020 2017 2018 2019 2020 Residential Commercial Industrial DS 8 Orange County Resid
Slide 13: Meikarta
Meikarta 13
Slide 14: Strategic region for growth – In between 2 of Indonesia's largest cities
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 15: 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 16: 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 16
Slide 17: Meikarta: Significant progress since 2019, Handovers commence
Meikarta: Significant progress since 2019, Handovers commence Dec 2020 Mar 2021 ~58ha of land owned. Currently have ongoing development for two apartment districts. District 1 ▪ Consists of ~13ha ▪ 28 towers, all of which have been topped off as of 30Dec20. ▪ Handover commenced. As of 30Dec20, ~600
Slide 18: Meikarta Construction Progress May 2021
Meikarta Construction Progress May 2021 18
Slide 19: Central Park at Meikarta
Central Park at Meikarta 19
Slide 20: Projects Data
Projects Data 20
Slide 21: Waterfront - Affordable Landed Residential Housing
Waterfront - Affordable Landed Residential Housing Riverside Cluster Launch date : Mar-20 Unit sold (sqm) : 228 Avg price per unit (Rp m) : 823 Sold value (Rp bn) : 188 Payment profile : Cash 10% Installment 12% Mortgage 78% Silvercreek Cluster American Style Launch date : Mar-20 Unit sold (sqm) : 1
Slide 22: As of Dec20, 70% of units in Orange County have been handed over
As of Dec20, 70% of units in Orange County have been handed over 22
Slide 23: Lippo Cikarang Map and Corporate Structure
Lippo Cikarang Map and Corporate Structure 23
Slide 24: Corporate Structure and Project Map
Corporate Structure (Post Rights Issue) PT LIPPO KARAWACI TBK PT KEMUNING PT LIPPO KARAWACI Tbk Other PUBLIC BELOW SATIATAMA Subsidiaries 5% 80,83% 3,16% 19,17% As of 30 December 2020 No. of outstanding share 2,679,600,000 Code : LPCK IJ Lippo Cikarang Orange County East Jakarta Corridor ▪ Trivium T
Slide 25: Landbank Reconciliation
Landbank Reconciliation Comprehensive review of landbank conducted at YE20 based on current market values, detailed breakdown of key landbanks Ownership (%) Land Area (ha) Market value (US$ m) Area: Lippo Cikarang 100% 615 1,700 - Residential/ Commercial 100% 240 - Industrial 100% 375 * All values a
Slide 26: Appendix
Appendix LIPPO GROUP IE
Slide 27: Foreign ownership remains a challenge in 2020 but is expected to show relaxation in 2021
Foreign ownership remains a challenge in 2020 but is expected to show relaxation in 2021 27
Slide 28: 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 29: LPCK trading performance
LPCK trading performance 10,500 8,500 +2 s.d 6,500 +1 s.d 4,500 5- yr mean 2,500 -1 s.d 500 Aug15 Aug16 Aug17 Aug18 Aug19 Aug20 Dec17 Dec15 Dec16 Dec18 Dec19 Dec20 Apr17 Apr16 Apr18 Apr19 Apr20 Feb20 Oct15 Feb16 Oct16 Feb17 Oct17 Feb18 Oct18 Feb19 Oct19 Oct20 Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 -2 s
Slide 30: Board of Commissioners and Directors team focused on corporate governance
Board of Commissioners and Directors team focused on corporate governance and driving the business Board of Commissioners Drs. Theo L. Sugiono Djauhari Anand Kumar Ali Said Hadi Cahyadi Didik J. Rachbini Sambuaga Commissioner Commissioner Independent Independent Independent President Commissioner Co
Slide 31: Investor Relations
Investor Relations Tevilyan Yudhistira Rusli Chief Financial Officer : Yudhistira.Rusli@lippokarawaci.co.id : +62 21 25669055 : www.Lippo-Cikarang.com 31