Pt Ciputra Development Tbk · IDX:CTRA
Pt Ciputra Development Tbk — UBS Indonesia Conference 2019
44 slides from Pt Ciputra Development Tbk's conference presentation, Mar 4, 2019
Slide 1: UBS Indonesia Conference (4 March 2019)
UBS Indonesia Conference (4 March 2019)
Slide 2: Key Developments
Key Developments • Launched new clusters/towers in 22 projects with a combined presales of Rp3.0tn (47% of 2018 achievement) • New Clusters / Towers include = CitraLand Vittorio Wiyung (Surabaya), CitraLand Gama City Phase 2 (Medan), Ciputra World Surabaya (Surabaya), CitraSun Garden Semarang (Semar
Slide 3: Marketing Sales Summary
Marketing Sales Summary Historical Presales Presales per Location (Rp bn) 2018 2019T 9,179 21% 19% 21% 991 22% 7,640 7,186 431 480 14% 16% 3,099 6,363 172 6,023 32% 34% 1,625 2,661 279 11% 8% 0% 2% 2,423 2,395 Greater Jakarta Surabaya Other Java Sumatra Sulawesi Others 5,088 5,081 4,549 3,768 Presal
Slide 4: Marketing Sales Summary
Marketing Sales Summary Presales per Payment Method Presales per Unit Price 6% 10% 7% 11% 15% 12% 15% 16% 24% 29% 30% 26% 36% 40% 37% 57% 30% 21% 24% 24% 49% 48% 48% 40% 43% 32% 34% 36% 2015* 2016 2017* 2018* 2015* 2016 2017* 2018* Mortgage Instalment Cash < Rp1bn Rp 1-2bn Rp 2-5bn > Rp 5bn High pro
Slide 5: Geographically Diversified Project Portfolio
Geographically Diversified Project Portfolio Kalimantan CitraGrand Senyiur City Samarinda CitraGarden Banjarmasin Over 75 projects CitraGarden City Samarinda CitraLand City Samarinda CitraGarden Aneka Pontianak Citra BukitIndah Balikpapan in 33 cities across Medan CitraMitra City Banjarbaru CitraLan
Slide 6: Greater Jakarta Project Portfolio
Greater Jakarta Project Portfolio - Business Presentation 6
Slide 7: 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 2013-18 CAGR 2018 CitraRaya Tangerang 100% 770 63% 11% 4.5 CitraIndah Jonggol 100% 191 17% 16% 1.8 CitraGarden City Jakarta 100% 119 48% 6% 1
Slide 8: 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 sqm) Joint Operation Project Plan (Ha) (Rp mn per sqm) 2018 2018 New Project in Sentul 114 - CitraGrand Senyiur City Samarinda 397 1.6 CitraLake Sawan
Slide 9: 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 92% 108 100% Ciputra World Jakarta 2 100% The Residence 14,000 97%
Slide 10: 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% 19,300 91% 88 100% Ciputra World Jakarta 2 Tokopedia Tower 100% 28,000 82% 227 100
Slide 11: Unsold Apartment and Office Stock Completion Schedule
Unsold Apartment and Office Stock Completion Schedule - Business Presentation 11
Slide 12: 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 13: 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) 2014 2015 2016 2017 2018 200k m² with Ciputra World Jakarta 1 81,000 100% 100% 100% 100% 100% Ciputra World Surabaya 56,000 98% 99% 95% 94% 92% average occupancy Ciputra Mall Jakarta
Slide 14: Continued Strong Performance of Diversified Recurring Assets
Continued Strong Performance of Diversified Recurring Assets Revenue per Available Room (RevPAR) across Hotels Rp '000 Rooms 2014 2015 2016 2017 2018 % YoY Raffles Hotel (Ciputra World Jakarta 1) 173 - - 813 1,520 1,428 -6% Ciputra World Surabaya Hotel 212 - 419 482 504 452 -10% Ciputra Hotel Jakart
Slide 15: New Projects 2019
New Projects 2019 New Landed Residential Development in Puri Location Puri – West Jakarta Development plan 18.2 ha Market segment Middle and middle-up Estimated launch 2H19 2019 est. presales Rp300bn Unit price range Approx. Rp900mn – Rp2.0bn Accessibility 5 minutes from Kali Deres commuter line sta
Slide 16: New Projects 2019
New Projects 2019 New Township Development in Sentul Location Sentul – South Greater Jakarta Development plan Phase 1: 114 ha out of 1,000 ha master plan Market segment Middle and middle-low Estimated launch 2H19 2019 est. presales Rp200bn Unit price range Approx. Rp600mn – Rp1.6bn Accessibility 5 m
Slide 17: New Projects 2019
New Projects 2019 New Apartment Development in Ciracas Location Ciracas – East Jakarta Development plan Phase 1: 2 ha out of 7 ha (approx. 61,000 sqm out of 213,000 sqm SGA) Market segment Middle-low and low Estimated launch 2H19 2019 est. presales Rp250bn Unit price range Approx. Rp320mn – Rp800mn
Slide 18: Key Projects 2019
Key Projects 2019 CitraMaja Raya Banten Location Lebak, Banten, West Java Launch November 2014 Development plan 1,200 ha (sold 267 ha) Market segment Middle to middle-low Pre-sales 2018 Rp 889billion Selling price per unit Rp 107million to Rp 1.3billion Average unit selling price IDR 245million Aver
Slide 19: Key Projects 2019
Key Projects 2019 CitraLand Surabaya Location West Surabaya Launch 1993 Development plan 1,700 ha (sold 732 ha) Market segment Middle to middle-high Pre-sales 2018 Rp 551billion Selling price per unit Rp 500bllion to Rp 5.1billion Average unit selling price Rp 2.4billion Average land selling price R
Slide 20: Key Projects 2019
Key Projects 2019 CitraLand City Losari Makassar Location Makassar, South Sulawesi Launch October 2015 Development plan 157 ha (sold 35 ha + 50 ha to government) Market segment Middle to high Pre-sales 2018 Rp 407billion Selling price per unit Rp 2.2billion to Rp 57.5billion Average unit selling pri
Slide 21: Key Projects 2019
Key Projects 2019 CitraRaya Tangerang Location Tangerang, West of Jakarta Launch 1994 Development plan 2,760 ha (sold 837 ha) Market segment Middle-low to middle-high Pre-sales 2018 Rp 431billion Selling price per unit Rp 253million to Rp 2.4billion Average unit selling price Rp 809million Average l
Slide 22: Key Projects 2019
Key Projects 2019 CitraIndah City Jonggol Location South Greater Jakarta Launch 1997 Development plan 780 ha (sold 514 ha) Market segment Middle and middle low Pre-sales 2018 Rp301billion Selling price per unit Rp111million to Rp1.4billion Average unit selling price Rp353million Average land selling
Slide 23: Key Projects 2019
Key Projects 2019 CitraLand Gama City Medan Location Medan, North Sumatra Launch Sep 2018 Development plan 123 ha out of 210ha masterplan Market segment Middle and middle-up Pre-sales 2018 Rp 305billion Selling price per unit Rp 1billion to Rp 8.5billion Average unit selling price Rp 2.7billion Aver
Slide 24: 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 25: Results Summary (Income Statement)
Results Summary (Income Statement) (Rp bn) 9M18 9M17 % YoY Effect of +9% YoY in Property Development segment Revenue 4,691 4,348 8% and +6% YoY in Recurring segment COGS (2,401) (2,267) 6% Gross Profit 2,289 2,081 10% Gross Profit Margin 49% 48% Effect of product mix Operating Expense (1,121) (1,100
Slide 26: Results Summary (Revenue Breakdown and Margin Performance)
Results Summary (Revenue Breakdown and Margin Performance) (Rp bn) 9M18 9M17 % YoY Revenue Breakdown Property Development Revenue 3,415 3,146 9% Houses, shophouses, and land lots 2,545 2,476 3% Apartments 540 422 28% Partial revenue recognition from enbloc sale to Diener Syz Office for sale 330 249
Slide 27: Results Summary (Revenue per Segment and per Location)
Results Summary (Revenue per Segment and per Location) Revenue per Segment (9M18) Revenue per Location (9M18) Office Strata Greater Apartment Surabaya Strata 7% Shopping 22% 10% Malls 13% Hotels Other Java 8% 15% Others 8% Sumatra Houses, 7% shophouses, and Greater Jakarta 54% Sulawesi land lots Oth
Slide 28: Results Summary (Historical Revenue Breakdown)
Results Summary (Historical Revenue Breakdown) Rp tn Development vs. Recurring Revenue 8.0 7.0 1.4 6.0 1.6 1.1 1.7 5.0 24% 27% 27% 0.8 4.0 18% 18% 1.3 16% 3.0 6.1 5.2 5.1 4.7 2.0 4.2 3.4 1.0 - 2013 2014 2015 2016 2017 9M18 Development Revenue Recurring Revenue Recurring as % of Total Revenue • Conti
Slide 29: Debt Profile
Debt Profile As of Sept-18 Floating Fixed Rupiah Foreign Currency 23% Total Borrowings: Rp8.3tn 77% 79% 21% (Rp tn) 3.0 Maturity Profile (% of total debt) 32% 2.5 Borrowing Cost* 2.0 12.7% 12.1% 11.7% 1.5 10.3% 9.0% 15% 13% 14% 12% 1.0 0.5 4% 4% 3% 2% 0.0 2013 2014 2015 2016 2017 2018 2019 2020 2021
Slide 30: Capex Schedule
Capex Schedule Office for Lease 4% Hotel 1% Mall 3% Others Historical Capex 8% Rp tn 2.1 9M18 1.9 1.1tn 0.9 1.1 Land for Development 84% 2015 2016 2017 9M18 • Land acquisition capex largely for land reclamation project in Makassar - Business Presentation 30
Slide 31: Financial Highlights
Financial Highlights Revenue Gross Profit (Rp bn) (Rp bn) 3,724 7,514 3,330 3,290 6,739 6,443 3,019 6,340 2,546 5,077 2,289 4,691 2,081 4,348 53% 50% 50% 49% 49% 48% 47% 2013 2014 2015 2016 2017 9M17 9M18 2013 2014 2015 2016 2017 9M17 9M18 Gross Profit Gross Margin Net Profit Key Ratios (Rp bn) 1,68
Slide 32: Balance Sheet Summary
Balance Sheet Summary Rp bn Sept 2018 Dec 2017 Dec 2016 Dec 2015 Assets 33,610 31,872 29,169 26,259 Cash & cash equivalents 2,845 3,239 3,471 3,034 Land 12,940 11,696 10,109 9,229 Fixed Assets 3,057 3,144 3,034 2,962 Investment Properties 4,930 4,931 4,908 4,521 Others 9,837 8,862 7,647 6,512 Liabil
Slide 33: Appendix
Appendix A: New Corporate Structure Post Merger B: Corporate Milestones C: Competitive Strenght D: Regulatory Environment E: Management Team F: Company Awards
Slide 34: 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 99.99% PT CIPUTRA RAYA & Subsidiaries & Subsidiaries SEJAHTERA & Subsidiaries 99.99% PT CIPUTRA NUSANTARA 98.99% PT SARANANEKA 7.43%
Slide 35: Corporate Milestones
Corporate Milestones Capital raising & corporate actions -> STRENGTHEINING 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 divi
Slide 36: 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 37: Regulatory Support from the Government in 2018
Regulatory Support from the Government in 2018 Higher Loan-to-Value (LTV) for mortgages (e.g. first mortgage LTV relaxed from 85% to 100%). Planed to increase the threshold for the 20% luxury tax from Rp10bn to Rp30bn Increased limit for indent mortgages (for for apartments and from Rp20bn to units
Slide 38: 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 39: Company Awards
Company Awards 100 Fastest Growing Company Award Indonesia Top Ten Developers 2017: 2017 2nd Place in Property, Real Estate and Construction Sector Indonesia Most Innovative Business Award Indonesia Most Admired Companies Award 2017: 2017: Winner in Property and Real Estate Category Winner in Proper
Slide 40: 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 41: 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 42: Notes
Notes - Business Presentation 42
Slide 43: Notes
Notes - Business Presentation 43
Slide 44: PT Ciputra Development Tbk
@ PT Ciputra Development Tbk
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