Slide 1: Results Presentation (6M20)
Results Presentation (6M20)
Slide 2: Results Summary (Income Statement)
Results Summary (Income Statement) (Rp bn) 6M20 6M19 % YoY Effect of -6% YoY in Property Development Revenue 2,804 3,145 -11% segment and -24% YoY in Recurring segment COGS (1,508) (1,656) -9% Gross Profit 1,297 1,489 -13% Gross Profit Margin 46% 47% Effect of lower margins from Recurring segment Op
Slide 3: Results Summary (Revenue Breakdown and Margin Performance)
Results Summary (Revenue Breakdown and Margin Performance) (Rp bn) 6M20 6M19 % YoY Revenue Breakdown Property Development Revenue 2,131 2,257 -6% Houses, shophouses, and land lots 1,815 1,675 8% Apartments 27 365 -92% Adoption of new accounting standard affecting apartment and office revenue Office
Slide 4: Results Summary (Revenue per Segment and per Location)
Results Summary (Revenue per Segment and per Location) Revenue per Segment (6M20) Revenue per Location (6M20) Greater Office Strata Surabaya 10% Apartment 19% Strata 1% Shopping Malls 10% Other Java 20% Hotels 4% Others 10% Sumatra Houses, 7% shophouses, and Greater Jakarta Sulawesi land lots 48% 4%
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% 5.00 23% 27% 18% 24% 4.00 24% 3.00 6.1 5.9 5.7 5.1 0.7 4.7 2.00 1.00 2.1 - 2015 2016 2017 2018 2019 6M20 Development Revenue Recurring Revenue Recurring as % of Total Re
Slide 6: Debt Profile
Debt Profile As of Jun-20 Floating Fixed Rupiah SGD 17% 79% Total Borrowings: Rp9.3tn 83% 21% USD 1% Maturity Profile (% of total debt) (Rp tn) 26% 2.5 2.0 Borrowing Cost* 18% 12.7% 1.5 12.1% 11.7% 10.3% 10.2% 10.4% 13% 12% 11% 9% 9% 1.0 0.5 3% 1% 0% 0.0 2014 2015 2016 2017 2018 2019 2020 2021 2022
Slide 7: Capex Schedule
Capex Schedule Mall 25% Historical Capex Rp tn Hospital 2.1 2% 2.0 6M20 Hotel 1% 1.3 0.5tn 0.9 1.1 Land for 0.5 Development 57% Others 14% 2015 2016 2017 2018 2019 6M20 • 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 47% 46% 50% 50% 49% 47% 47% 1,489 1,297 3,145 2,804 2015 2016 2017 2018 2019 6M19 6M20 2015 2016 2017 2018 2019 6M19 6M20 Gross Profit Gross Margin Net Profit Key Ratios (Rp bn) 2.2
Slide 9: Balance Sheet Summary
Balance Sheet Summary Rp bn Jun 2020 Dec 2019 Dec 2018 Dec 2017 Assets 37,884 36,196 34,289 31,872 Cash & cash equivalents 3,810 4,238 3,243 3,240 Land 13,782 13,523 13,048 11,696 Fixed Assets 3,020 3,089 3,114 3,144 Investment Properties 5,473 5,373 4,962 4,762 Others 11,799 9,972 9,921 9,031 Liabi
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) 6M20 2020T Greater Greater Surabaya Surabaya 11% 7,640 17% 7,186 Greater Greater Other Other Java Jakarta Jakarta 6,363 Java 46% 21% 6,131 50% 18% 2,106 3,092 Sumatra Sumatra 2,595 Others 12% 15% 2,955 4,519 Sulawesi 1% Sulawe
Slide 15: Marketing Sales Summary
Marketing Sales Summary Presales per Payment Method Presales per Unit Price 6% 10% 7% 6% 6% 15% 12% 15% 15% 17% 24% 21% 29% 31% 30% 40% 32% 27% 36% 37% 30% 21% 39% 24% 28% 53% 56% 49% 48% 48% 40% 43% 36% 34% 35% 2016 2017* 2018* 2019 6M20 2016 2017* 2018* 2019 6M20 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% 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% 256 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 6M20 Ciputra World Jakarta 1 81,000 100% 100% 100% 100% 100% 226k m² with Ciputra World Surabaya 56,000 95% 94% 92% 96% 95% 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 6M19 6M20 % YoY Raffles Hotel (Ciputra World Jakarta 1) 173 813 1,520 1,428 1,421 1,266 716 -43% Ciputra World Surabaya Hotel 212 482 504 452 461 378 174 -
Slide 24: Growth Strategy and Project Highlights
Growth Strategy and Project Highlights
Slide 25: Key Developments
Key Developments • Launched new clusters/towers in 5 existing projects with a combined presales of Rp512bn (25% of 6M20 achievement) • Total 6M20 presales reached Rp2.0tn (45% of FY20 revised target) • Conducted an en bloc sale of 253 apartment units to Diener Syz Real Estate in Ciputra World Jakart
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 6M20 Rp 310 billion Selling price per unit Rp 543 million to Rp 2.7 billion Average unit selling pric
Slide 28: Key Projects 2020
Key Projects 2020 CitraLand Gama City Medan Location Medan, North Sumatra Launch Feb 2013 Development plan 123 ha out of 210 ha masterplan Market segment Middle and middle-up Pre-sales 6M20 Rp 221 billion Selling price per unit Rp 821 million to Rp 7.4 billion Average unit selling price Rp 3.3 billi
Slide 29: 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 6M20 Rp 201 billion Selling price per unit Rp 174 million to Rp 2.6 billion Average unit selling price Rp 735 million Avera
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 6M20 Rp 147 billion Selling price per unit Rp 362 million to Rp 11.8 billion Average unit selling price Rp 2.3 billion Average land se
Slide 31: Key Projects 2020
Key Projects 2020 CitraGarden Puri Jakarta Location Puri - West Jakarta Launch Oct 2019 Development plan 18.2 ha Market segment Middle and middle-up Pre-sales 6M2020 Rp 108 billion Selling price per unit Rp 634 million to Rp 3.3 billion Average unit selling price Rp 2.2 billion Average land selling
Slide 32: 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 6M20 Rp 98 billion Selling price per unit Rp 149 million to Rp 1.5 billion Average unit selling price Rp 362 million Average land
Slide 33: Key Projects 2020
Key Projects 2020 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 6M20 Rp 98 billion Selling price per unit Rp 123 million to Rp 890 million Average unit selling price Rp 266 million Average
Slide 34: 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 6M20 Rp 95 billion Selling price per unit Rp 635 million to Rp 3.5 billion Average unit selling price Rp 1.5 billion Average land se
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 6M20 Rp 68 billion Selling price per unit Rp 225 million to Rp 3.7 billion Average unit selling price Rp 1.4 billion Average l
Slide 36: Key Projects 2020
Key Projects 2020 CitraGarden Sidoarjo Location Sidoarjo, South Greater Surabaya Launch August 2005 Development plan 26 ha (sold 26 ha) Market segment Middle Pre-sales 6M20 Rp 67 billion Selling price per unit Rp 416 million to Rp 4.1 billion Average unit selling price Rp 1.5 billion Average land se
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 Dian Sumeler Rina Ciputra S. Junita Ciputra Sandra Hendharto Candra Ciputra Cakra Ciputra Budiarsa Sastrawinata Harun Hajadi Chairman President Kodradi Thomas Bambang Tanan H. Antonius Agussurja Widjaja MI Meiko Handojo Nanik J. S
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