PT Lippo Karawaci Tbk · IDX:LPKR
PT Lippo Karawaci Tbk — Q1 2023 Earnings Presentation
52 slides from PT Lippo Karawaci Tbk's earnings presentation, Apr 27, 2023
Slide 1: PT Lippo Karawaci Tbk 1Q23 Corporate Presentation
PT Lippo Karawaci Tbk 1Q23 Corporate Presentation 27 April 2023
Slide 2: Forward looking statements
Forward looking statements Certain statements in this release are or may be forward-looking statements. These statements typically contain words such as "will", "expects" and "anticipates" and words of similar import. By their nature, forward looking statements involve a number of risks and uncertai
Slide 3: Introduction and Background
INTRODUCTION AND BACKGROUND 3
Slide 4: Brief Introduction to Lippo Karawaci
Brief Introduction to Lippo Karawaci ▪ To win the hearts and minds of To be a leading real estate our customers through quality and healthcare company homes, healthcare, and lifestyle in Asia, committed to offerings, as well as people- advancing the well-being VISION centric services of those we ser
Slide 5: Key Investment Highlights
Key Investment Highlights 1 Large landbank and strong growth in marketing sales that is expected to remain elevated in coming years, generating Real estate Healthcare positive cashflow 22.6% 69.6% 2 Controlling stake in the largest hospital T Strong management operator in Indonesia with 41 hospitals
Slide 6: Business Operational Area
Business Operational Area As of 31 December 2022 Townships Hospitals Lippo Village: 331 ha landbank Total hospitals: 41 Lippo Cikarang: 514 ha landbank Total clinics: 66 Tanjung Bunga: 346 ha landbank Locations: 23 provinces GPs, Specialists, Dentists: 3,659 Superblock Nurses & Medical Professionals
Slide 7: 1Q23 Executive Summary
LIPPO 1Q23 EXECUTIVE SUMMARY
Slide 8: Executive Summary
Executive Summary LPKR posted 14% YoY revenue growth to IDR 3.8tn SEGMENT 1: REAL ESTATE 1Q23 marketing sales of IDR Successful on-time delivery of 165 In 2Q23, the Company will 1.21tn with 1,449 units sold Cendana Parc North units continue to introduce new products represented 24.7% of FY23 target
Slide 9: Financial Update
LIPPO FINANCIAL UPDATE
Slide 10: Revenue and EBITDA grew by 14% and 30% YoY respectively
Revenue and EBITDA grew by 14% and 30% YoY respectively Revenue EBITDA (in IDR Bn) (in IDR Bn) -0.01% +13% +1% +14% -1% +32% -1% +30% 432 47 3,815 215 878 3,336 (5) (0.4) 674 (7) 1Q22 Real Estate Healthcare Lifestyle 1Q23 1Q22¹ Real Estate Healthcare Lifestyle 1Q23 Development Development ▪ 1Q23 con
Slide 11: NPAT booked at IDR 1.1tn on the back of 14% revenue growth
NPAT booked at IDR 1.1tn on the back of 14% revenue growth, 15% gross profit growth, and 30% EBITDA growth Revenue EBITDA (in IDR bn) (in IDR bn) +4% +4% +14% +30% 3,815 878 3,550 3,336 813 674 1Q21* 1Q22 1Q23 1Q21* 1Q22 1Q23 Gross Profit NPAT (in IDR bn) (in IDR bn) +2% +301% +15% 1,138 1,587 1,651
Slide 12: Underlying NPAT improving 54% YoY
Underlying NPAT improving 54% YoY driven by improved business fundamentals, lower interest rate and successful liability management Consolidated EBITDA to NPAT EBITDA by segment (in IDR bn) Var Healthcare In IDR bn 1Q23 1Q22 IDR % 25% 21% EBITDA 878 674 204 30% 673 EBITDA margin 23% 20% 458 Interest
Slide 13: Cash from business operations remained positive and stable
Cash from business operations remained positive and stable Cashflow movement (1Q23) (in IDR bn) Remarks ▪ Operating Cash Flow is stable 2,626 2,497 at IDR 154bn supported by Operating Investing Financing improvement in business operations. 154 19 ▪ Siloam has invested in new (1) medical equipment to
Slide 14: Liability Management
Liability Management 2025 Bonds | Principal Outstanding Refinancing Facility (In USD mn) Type of facility : Syndicated Loan Transactions 420 Facility type : Term loan facility in IDR (183) Amount : IDR 5.25tn 237 Interest : BI 7DRR + 2.25% margin p.a. Term : 84 months Collateral : land and building
Slide 15: Liability Management
Liability Management Debt breakdown Debt maturity Profile (in IDR bn) 3,572 2,932 46% 54% 460 529 604 191 352 2023 2024 2025 2026 2027 USD debt (bonds) IDR debt (bank loans) USD debt (bonds) IDR debt (bank loans) Historical Net Debt1 Currency Protection with Call Spread Options (In IDR bn) DER Conso
Slide 16: Segment 1: Real Estate Overview
SEGMENT 1: REAL ESTATE OVERVIEW 16
Slide 17: Real Estate Business Key Metrics
Real Estate Business Key Metrics LPKR consolidated marketing Marketing sales continue to be primarily sales printed IDR 1.21tn in driven by residential sales, particularly 1Q23, on track for FY23 target landed housing that contributed 60% to of IDR 4.9tn total marketing sales, driven by sales from C
Slide 18: Business Highlights
Business Highlights FY22 Marketing Sales Result Marketing sales by location 3% 31.4% 7% 4% Lippo Village Cikarang 4,964 4,766 4,900 12% Karawang 0.4% 45% 2,670 Makassar 1,598 1,846 1,206 1,210 Manado 24.7% Jakarta 28% 2018 2019 2020 2021 2022 1Q22 1Q23 Target FY23 Over the past 5 years, LPKR has sho
Slide 19: 1Q23 Marketing Sales Results
1Q23 Marketing Sales Results Key Takeaways ▪ LPKR has set a target of IDR 4.9tn for FY23 marketing sales, whereby IDR 3.53tn will come from Hold Co, and 1.38tn from Lippo Cikarang. ▪ As of 1Q23, the Company has achieved 24.7% of the FY23 target, comprising marketing sales of IDR 873bn from Hold Co a
Slide 20: Marketing sales momentum and land bank provide foundation for growth
Marketing sales momentum in the last 3 years and land bank in key growth centres provide strong foundation for future growth Marketing Sales Land Bank • Strong marketing sales, driven by diversified • ~1,000 hectares of land bank in Jakarta, portfolio of products and geographic reach Greater Jakarta
Slide 21: Successful on-time project delivery in 1Q23
Successful on-time project delivery in 1Q23 Cendana Parc North (launched in September 2021): 165 units handed over to customers starting from February 2023 Cendana Icon Premier (launched in March 2021): 32 units handed over to customers starting from February 2023 21
Slide 22: Product Focus FY23: Cendana Series
Product Focus FY23: Cendana Series Cendana Series (first-home owners landed) Clusters: Cendana Arbory (Karawaci – Western Jakarta) Typical size and starting price: ▪ 74.5sqm land / 68sqm building IDR 920mn ▪ 82.5sqm land / 68sqm building IDR 977mn ▪ 97.5sqm land / 88sqm building IDR 1.360bn Handover
Slide 23: Product Focus FY23: Low-Rise Apartment
Product Focus FY23: Low-Rise Apartment Newville (Low-Rise Apartment) Area: Lippo Cikarang – East Jakarta Handover period: Typical floors: 5 30 months + grace period 6 Typical size and starting price: months ▪ 24.35sqm IDR 279mn ▪ 28.95sqm land IDR 333mn ▪ 40.75sqm land IDR 467mn 23
Slide 24: Product Focus FY23: Medium-Rise Apartment
Product Focus FY23: Medium-Rise Apartment URBNx Area: Lippo Karawaci – West Jakarta Location: very strategic location in front of UPH – school of medicine Typical size and starting price: ▪ Standard 28.12sqm: IDR 370mn ▪ Corner 44.87sqm: IDR 559mn ▪ X-tra 53.33sqm: IDR 670mn ▪ SOHO 56.23sqm: IDR 819
Slide 25: Segment 2: Healthcare Overview
SEGMENT 2: HEALTHCARE OVERVIEW 25
Slide 26: Siloam achieved its highest ever first quarter results
Siloam achieved its highest ever first quarter results Remarks Revenue* booked at EBITDA* increased to Net Profit increased to IDR2.05tn IDR603bn IDR257bn ▪ Siloam achieved its highest in 1Q23 in 1Q23 in 1Q23 ever quarterly results with no impact from seasonal 17.2% | 1.8% 47.5% | 2.3% 152.3% | 1.7%
Slide 27: Strong growth trajectory on all financial metrics
Strong growth trajectory on all financial metrics Revenue* (in IDR bn) EBITDA* (in IDR bn) +12% 2,047 +27% 603 1,912 1,747 483 1,443 409 1,292 303 231 1Q19 1Q20 1Q21 1Q22 1Q23 1Q19 1Q20 1Q21 1Q22 1Q23 Net Profit (in IDR bn) Operating Cash Flow (in IDR bn) +24% 257 622 +131% 150 417 370 102 221 20 15
Slide 28: Sustained post COVID recovery from 3Q22 onward
Sustained post COVID recovery from 3Q22 onward Revenue* (in IDR bn) EBITDA* (in IDR bn) Net Profit (in IDR bn) -3% +16% +4% +2% +0.5% +40% +3% +2% +9% +120% +4% +2% 2,010 2,047 589 603 253 257 1,951 575 244 1,747 1,685 409 411 102 111 1Q22 2Q22 3Q22 4Q22 1Q23 1Q22 2Q22 3Q22 4Q22 1Q23 1Q22 2Q22 3Q22
Slide 29: Revenue Growth by Payer Group
Revenue Growth by Payer Group % Contribution to Revenue (4Q22 vs 1Q23) 0.6% Private (OPE, Corp + Insurance) BPJS MoH* 18.1% 17.0% 0.1% Private patients’ (OPE, Corporate & Insurance) remained above 80% YoY. MoH Revenue is no longer relevant. 81.3% 82.9% 4Q22 1Q23 Payee Group Contribution to Revenue +
Slide 30: Operational Results per Quarter
Operational Results per Quarter Operational Results per Quarter – Inpatient Admissions Operational Results per Quarter – Occupancy Rate (in ‘000) (in %) 68 71 64 65 65 66 56 53 55 55 51 51 51 50 51 46 41 39 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 Ope
Slide 31: Throughput for Top Craft Group showed significant growth YoY
Throughput for Top 6 Craft Group showed significant growth YoY 1Q22 1Q23 (in ‘000) 45% 184 127 31% 28% 77 68 33% 59 53 25% 23% 45 34 32 31 26 25 Mom & Child Neurology & Cardiology & Orthopedics Urology & Oncology & Neuro-Surgery Cardiac-Surgery Urological Surgery Onco-Surgery As the base case contin
Slide 32: Siloam Hospitals ASRI first private hospital with kidney transplant certificate
In 2022, Siloam Hospitals ASRI became the first private hospital to receive the Certificate of Recommendation for Kidney Transplant Procedure from the government Kidney Transplant Journey No. of Kidney Transplant Survival rate ▪ 20 July 2017 73 2017 First kidney transplant procedure > 240 95.6% Kidn
Slide 33: Blastula IVF clinical program in Palembang
Blastula IVF clinical program in Palembang outcome higher than global benchmark Blastula IVF Journey at SHPL No. of Kidney Transplant IVF cycles 92 ▪ 21 January Soft Opening > 600 IVF cycles 73 64 64 ▪ 19 March 59 1st pregnancy > 250 Insemination 2021 ▪ 20 May Press conference & Grand opening > 300
Slide 34: Investments in Digital Patient Channels
Investments in Digital Patient Channels to deliver seamless, integrated patient experience MySiloam App Digitized Patient Voice With SOFAS implemented in all hospital units, approximately 80% complaints received in the hospitals throughout SHG were resolved in 24 hours Patient Booking Channels More
Slide 35: Segment 3: Lifestyle Overview
SEGMENT 3: LIFESTYLE OVERVIEW 35
Slide 36: Business Highlights - Lifestyle
Business Highlights - Lifestyle Business recovery on track with improvement in Mall's visitors and Hotel's occupancy. Malls ▪ Improved malls footfall and occupancy by inviting exciting anchor tenants, retailers, kids playpark and supermarket. ▪ Completion of major asset enhancement initiative at Gaj
Slide 37: Malls and Hospitality businesses entered 2023 with strong footing
Malls and Hospitality businesses entered 2023 with strong footing; key operational metrics achieving higher YoY growth in 1Q23 Malls Hospitality – Aryaduta Hotels ▪ 1Q23 revenue increased by 12% YoY to IDR 89bn ▪ Strong occupancy & rate growth coupled with focus on and showed strong recovery, with E
Slide 38: Sustainability
LIPPO SUSTAINABILITY
Slide 39: Sustainability Strategy
Sustainability Strategy ESG Approach Sustainability Governance Structure • Fully committed to integrating sustainability in business strategy, operations, and governance structure, in line with Board of global best practices Board of Directors Commissioners • ESG strategy and performance driven by C
Slide 40: Sustainability Framework
Sustainability Framework Vision Advancing the Well-being of Indonesians at Every Stage of Life Enhancing Quality of Life Caring for Our Environment Investing in Our People Championing Best Practices • Drive sustainable economic • Improve resource efficiency • Create a fair and inclusive • Uphold hig
Slide 41: Social Engagement Framework
Social Engagement Framework 41
Slide 42: Looking Ahead
LIPPO LOOKING AHEAD
Slide 43: Looking Ahead
Looking Ahead Real Estate Segment ▪ Despite the economic uncertainty and soft January sales, we managed to achieve 1Q23 marketing sales at IDR 1.21tn or 24.7% of FY23 target; driven by landed housing, cemetery, and industrial product lines. ▪ We are aware with potential challenging macro headwinds i
Slide 44: Looking Ahead
Looking Ahead Healthcare Segment • Continue to focus on Siloam 5.0 strategy with four main pillar of growth: core growth, clinical programs, network expansion and digital health, transformed across core areas and looking at enhancing the Health Tips to access health-related articles My Health Tracke
Slide 45: Looking Ahead
Looking Ahead Lifestyle Segment ▪ Strong path to recovery on our Malls and Hotels with loosening restriction on travel and public activities with target of full recovery by mid 2024. ▪ Asset enhancement in Gajah Mada Plaza, one of the most iconic mall in Jakarta, has been done and will open for publ
Slide 46: Appendices
LIPPO APPENDICES
Slide 47: Consolidated Statutory Statement of Profit and Loss
Consolidated Statutory Statement of Profit and Loss P&L Highlights (in IDR bn) 1Q23 1Q22 YoY Changes Total Revenues 3,815 3,336 14% COGS (2,204) (1,957) 13% Gross Profit 1,611 1,379 17% Operating Expenses (1,031) (1,029) 0.3% Operating Profit 580 351 65% Other Income & Expenses - Net 1,312 (246) -63
Slide 48: Consolidated Statutory Statement of Financial Position
Consolidated Statutory Statement of Financial Position Balance Sheet Highlights (in IDR bn) 1Q23 1Q22 1Q23 1Q22 ASSETS LIABILITIES & EQUITY CURRENT ASSETS CURRENT LIABILITIES Cash & Cash Equivalent 2,497 2,626 Bank Loans 2,348 2,046 Trade Accounts Receivable 1,881 1,742 Lease Liabilities 597 600 Inv
Slide 49: Consolidated Statutory Statement of Cash Flow
Consolidated Statutory Statement of Cash Flow Cash Flow Highlights (in IDR bn) 1Q23 1Q22 YoY Changes Cash at beginning 2,626 4,888 -46% Cash from operating activities: 154 106 46% Cash from investing activities: Investment and property (221) (162) 36% Acquisition and divestment 19 (2) 1021% Cash fro
Slide 50: Thank You
LIPPO THANK YOU
Slide 51: Notes
Notes: 51
Slide 52: Investor Relations
INVESTOR RELATIONS PT LIPPO KARAWACI TBK Head of Investor Relations Dr. Randi Bayu Prathama Email: Randi.Prathama@lippokarawaci.co.id Mobile: +62811225873 Deputy Head of Investor Relations Indra Agina Sinuraya Email: Indra.Sinuraya@lippokarawaci.co.id Mobile: +6281310008957 52