PT Lippo Karawaci Tbk · IDX:LPKR
PT Lippo Karawaci Tbk — Investor Presentation (March 2024)
61 slides from PT Lippo Karawaci Tbk's investor presentation, Mar 26, 2024
Slide 1: PT Lippo Karawaci Tbk FY23 Corporate Presentation
PT Lippo Karawaci Tbk FY23 Corporate Presentation 26 March 2024
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
Slide 4: Our Values, Mission and Vision
Our Values Mission Values AGILITY 1 To win the hearts and minds of our customers through quality homes, ▪ Thrive in dynamic environments and anticipate change. healthcare and lifestyle offerings, as ▪ Innovate and capitalize on new opportunities. well as people-centric services. Vision CUSTOMER FOCU
Slide 5: Our Company
Our Company Leader in Integrated Real Estate and Healthcare – Widespread presence in 56 cities and 26 provinces Scale, Integration and Financial Discipline: across Indonesia #1 by Total Revenue: IDR 17tn in FY23 Revenue breakdown: 66% Healthcare, 27% Real #1 by Recurring Revenue: IDR 12tn in FY23 Es
Slide 6: FY23 Key Highlights
FY23 Key Highlights LPKR achieved turnaround to positive NPAT of IDR 50bn in FY23, supported by 15% YoY Revenue growth to IDR 17.0tn and 28% YoY EBITDA growth to IDR 4.2tn. Real Estate Healthcare Lifestyle ▪ FY23 Revenue and EBITDA booked at ▪ FY23 Revenue¹, EBITDA¹, and NPAT ▪ FY23 Revenue booked a
Slide 7: FY23 Financial Update
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Slide 8: Revenue and EBITDA increased by 15% and 28% respectively
Revenue and EBITDA increased by 15% and 28% respectively Revenue EBITDA (in IDR bn) (in IDR bn) +3% +11% +1% +15% +6% +21% -0.4% +2% +28% 1,672 102 16,990 14,809 407 692 54 4,199 3,273 195 (15) FY22 Real Estate Healthcare Lifestyle Holdco FY23 FY22 Real Estate Healthcare Lifestyle Holdco FY23 Develo
Slide 9: Turning NPAT positive resulting from sustained growth since 2019
Turning NPAT positive resulting from sustained growth since 2019, albeit delayed due to covid interruption Revenue EBITDA (in IDR bn) (in IDR bn) +5% +12% +15% +28% 16,990 4,199 15,416 14,809 3,362 3,273 FY21¹ FY22 FY23 FY211 FY22 FY23 Gross profit NPAT (in IDR bn) (in IDR bn) +8% 102% +18% 107% 7,6
Slide 10: Underlying NPAT remained positive after excluding non-operational matters
Underlying NPAT remained positive after excluding non-operational matters and margin has expanded Consolidated EBITDA to NPAT EBITDA by segment (in IDR bn) Var (YoY) Var (QoQ) In IDR bn FY23 FY22 4Q23 3Q23 Healthcare IDR % IDR % Revenue 16,990 14,809 2,182 15% 4,558 4,358 200 5% 26% 24% 26% 28% EBIT
Slide 11: LPKR consistently achieved positive NPAT YoY
LPKR consistently achieved positive NPAT YoY with improvement on NPAT margin from real estate (19%), healthcare (12%) and lifestyle (3%) Consolidated EBITDA to NPAT (FY23 vs FY22) EBITDA by segment (in IDR bn) FY23 FY22 Var (YoY) Healthcare in IDR bn Real Real Hospital Lifestyle Holdco Total Hospita
Slide 12: Improved business performance resulted in positive turnaround of operating cash flow
Improved business performance resulted in positive turnaround of operating cash flow Cashflow movement (FY23) Remarks (in IDR bn) ▪ Operating Cash Flow reflected a Operating Investing Financing significant turnaround from -IDR 2,626 2,650 235bn in FY22 to IDR 2,061bn in 2,061 FY23, mainly driven by
Slide 13: Liability Management
Liability Management 2025 Bonds | Principal Outstanding Refinancing Facility (in USD mn) 420 Type of facility : Syndicated Loan Transactions Facility type : Term loan facility in IDR (183) 237 Amount : IDR 5.25tn Interest : BI 7DRR + 2.25% margin p.a. Term : 84 months Collateral : land and building
Slide 14: Improved Debt Profile from earlier Liability Management initiative
Improved Debt Profile from earlier Liability Management initiative Debt breakdown Debt maturity Profile (in IDR bn) USD debt (bonds) IDR debt (bank loans) 3,656 46% USD debt (bonds) 3,001 54% IDR debt (bank loans) 529 604 722 352 460 2024 2025 2026 2027 2028 Historical Net Debt1 Currency Protection
Slide 15: Segment 1: Real Estate Overview
SEGMENT 1: REAL ESTATE OVERVIEW
Slide 16: Real Estate Business Highlights
Real Estate Business Highlights Property Marketing sales New projects in Financial Key takeaways and development performance 4Q23 performance going forward projects sold in FY23 Landed residential: ▪ LPKR Lippo Karawaci: ▪ Real Estate FY23 ▪ LPKR successfully 63 projects maintained stable 1) Cendana
Slide 17: FY23 Marketing Sales achieved IDR 5.122tn, 5% above target
FY23 Marketing Sales achieved IDR 5.122tn which is 5% above FY23 target, primarily due to the successful launch of Park Serpong. Historical marketing sales (in IDR bn) Land bank ▪ ~1,000 hectares of land bank in Jakarta, Greater Jakarta and 26% +7% Makassar translate to roughly IDR 155tn in gross 4,
Slide 18: FY23 marketing sales highlights
FY23 marketing sales highlights FY23 Marketing sales breakdown in Lippo Village FY23 Marketing sales breakdown in Lippo Cikarang Marketing sales in Lippo Village were mainly driven by landed housing, Marketing sales in Lippo Cikarang were mainly driven by landed housing, accounting for 79% of the to
Slide 19: New property development project highlights
New property development project highlights In 4Q23, LPKR successfully introduced 6 new products, including 3 landed housing and 3 commercial shophouse products. Landed housing Commercial shophouses Cendana Sold 165 units – The Hive @ Sold 130 units – Livin 100% take up rate¹ Park Avenue 100% take u
Slide 20: FY23 project handover highlights
FY23 project handover highlights Real Estate’s FY23 revenue improved by 10% YoY to IDR 4.5tn, mainly driven by timely handover of landed housing and shophouses. Cendana 60 units – HVDHC 12 units – The HIVE 15 units – Icon 100% Manado 97% @ 94% Premiere completed completed Himalaya completed 60 units
Slide 21: Product Focus: Landed housing (Cendana and The Colony Series)
Product Focus: Landed housing (Cendana and The Colony Series) Cendana Series (First-Home Owners) The Colony Series (Exquisite Designer Homes) Cluster name : Cendana Gard’n Vista Serene Cluster name : The Colony @ Himalaya Handover period : 18 months + 6 months grace period Handover period : 18 month
Slide 22: Product Focus: Commercial shophouse (The Hive Series)
Product Focus: Commercial shophouse (The Hive Series) The Hive Series @ Lippo Cikarang The Hive Series @Lippo Village Cluster name : The Hive @Cosmo Cluster name : The Hive @ Essence Handover period : 15 months + 6 months grace period Handover period : 18 months + 6 months grace period Typical size
Slide 23: Product Focus: Park Serpong
Product Focus: Park Serpong 23
Slide 24: Product Focus: Park Serpong
Product Focus: Park Serpong Located in the centre of Serpong – West of Jakarta, with 5 different districts concept and surrounds with public facilities and sustainable infrastructure Concept Location Facilities & Sustainable Infrastructure EV Charging Station Water Treatment Plant Recycling Unit Bic
Slide 25: Product Focus: Park Serpong Landed Housing (XYZ Livin)
Product Focus: Park Serpong Landed Housing (XYZ Livin) Type X Type Y Type Z Handover Period: 18 months + 6 months grace Handover Period: 18 months + 6 months grace Handover Period: 18 months + 6 months grace period period period Typical size and Starting Price: Typical size and Starting Price: Typic
Slide 26: Product Focus: Park Serpong Landed Housing (Q Livin)
Product Focus: Park Serpong Landed Housing (Q Livin) Q10 Q11 Q20 Q21 Handover Period: 18 months + 6 months Handover Period: 18 months + 6 months Handover Period: 18 months + 6 months Handover Period: 18 months + 6 months grace period grace period grace period grace period Typical size and Starting P
Slide 27: Park Serpong Landed Housing (Cendana) and Shophouses (The Hive)
Product Focus: Park Serpong Landed Housing (Cendana) and Shophouses (The Hive Series) Cendana Series The Hive Series Handover Period: 18 months + 6 months grace period Handover Period: 18 months + 6 months grace period Typical size and Starting Price: Typical size and Starting Price: ▪ 60 m2 land /
Slide 28: Segment 2: Healthcare Overview
SEGMENT 2: HEALTHCARE OVERVIEW
Slide 29: Siloam closed the year with double digit growth bottom line
Siloam closed the year with double digit growth bottom line Revenue¹ (in IDR bn) Revenue¹ EBITDA¹ Annual Revenue Quarterly Revenue IDR8.66tn IDR2.67tn 7.4% in FY23 in FY23 7,637 8,663 3.9% 7,393 5,262 5,758 17.2%| 13.9% 34.6% | 21.9% 1,747 1,685 1,951 2,010 2,047 2,040 2,287 2,289 in FY23 vs FY22 in
Slide 30: Industry leading revenue intensity driven by high complexity clinical programs
Maintained an industry leading revenue intensity driven by high complexity clinical programs Average Revenue per Occupied Beds (in IDR bn) Average Revenue per Occupied Beds (in IDR bn) +10.7% Hospital A Hospital B 3.8 3.3 3.3 2.0 3.0 1.9 2.2 1.5 1.3 2019 2020 2021 2022 2023 2022 2023E Average Revenu
Slide 31: Stable and sustained growth in all operational metrics
Stable and sustained growth in all operational metrics Quarterly Results YTD 80,230 79,272 +25.6% 65,908 67,995 71,316 71,645 51,235 55,704 302,463 49,608 240,842 Inpatient Admissions 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 FY22 FY23 3.5 3.5 3.4 3.3 3.3 +15.5% 3.2 3.2 3.1 3.1 3.3 3.1 Inpatient
Slide 32: Continual drive to improve margins quarter on quarter
Continual drive to improve margins quarter on quarter Drugs & clinical supplies (IDR bn, % to Revenue) Operating expenses (IDR bn, % to Revenue) 35.1% 36.1% 33.0% 31.8% 31.9% 30.2% 30.7% 30.7% 31.5% 29.8% 29.2% 29.0% 28.6% 28.5% 29.5% 28.8% 28.0% 28.4% 651 641 731 581 587 594 584 634 658 527 518 576
Slide 33: Private Payer Group continue to become majority of total revenue
Private Payer Group continue to become majority of total revenue % Contribution to Revenue FY22 vs FY23 0.80% 0.02% Private (OPE, Corp + Insurance) BPJS MoH* 17.50% 18.30% Private patients’ (OPE, Corporate & Insurance) 81.70% 81.60% revenue contribution maintained above 80% of total Revenue FY22 FY2
Slide 34: Sustained Growth from High Complexity Clinical Programs
Sustained Growth from High Complexity Clinical Programs (Cardiology, Oncology, Neurology, Gastro, Orthopedics) C.O.N.G.O Throughput (‘000) 100 84 77 81 83 80 68 74 73 66 57 60 45 50 49 36 42 40 31 32 20 11 10 10 11 0 1Q23 2Q23 3Q23 4Q23 1Q23 2Q23 3Q23 4Q23 1Q23 2Q23 3Q23 4Q23 1Q23 2Q23 3Q23 4Q23 1Q2
Slide 35: Siloam Hospitals Expansion Progress
Siloam Hospitals Expansion Progress Siloam Hospitals Lippo Village Accelerator Siloam Hospitals Makassar Expected Expected opening at opening 1Q24 at 3Q24 Dec 2023 Dec 2023 60.2% 59.8% Siloam Hospitals New Gubeng Surabaya Siloam Hospitals Sentosa Bekasi Expected Expected Opening opening at 1Q25 at 4
Slide 36: Siloam's achievements in digital transformation
Siloam’s achievements in digital transformation Enhancing patient’s experience to be more seamless Digitized Patient Voice Patient Booking Channels Resolved 80% ▪ Seamless lab and radiology booking complaints in 2 hours 846,309 experience through MySiloam apps and Outpatient bookings website with SO
Slide 37: Segment 3: Lifestyle Overview
SEGMENT 3: LIFESTYLE OVERVIEW
Slide 38: Lippo Mall Indonesia: The largest mall developer and operator in Indonesia
Lippo Mall Indonesia: The largest mall developer and operator in Indonesia About LMI Leading player in the number of malls operated ▪ Lippo Mall Indonesia is the largest mall developer and operator in 59 Indonesia with 59 managed malls nationwide across 39 cities in 60 Indonesia. The company has the
Slide 39: Malls business continue to benefit from post-Covid recovery
Malls business continue to benefit from the post-Covid recovery, with 11% revenue growth YoY Malls Revenue² Malls EBITDA² (in IDR bn) (in IDR bn) +27% 13% 26% 17% +11% 561 +44% 505 -27% 346 130 95 46 FY21 FY22 FY23 FY21 FY22 FY23 Consistent YoY growth of malls visitors¹ Stable malls occupancy rate¹
Slide 40: Hotels: A prominent player in the premium hotel sector under Aryaduta
Hotels: A prominent player in the premium hotel sector under the Aryaduta brand About Aryaduta Strategically located in top cities in Indonesia ▪ Aryaduta Hotels is a Jakarta Bali Bandung heritage luxury hotel chain located strategically in 9 top cities across Indonesia. ▪ Known as "Iconically Aryad
Slide 41: Hotels: Stable growth of operational metrics
Hotels: Stable growth of hotels operational metric which reflects on 20% YoY revenue growth and 28% YoY EBITDA growth Hotels revenue¹ Hotels EBITDA¹ (in IDR bn) (in IDR bn) 26% 38% 40% +31% +20% +63% 446 373 +28% 261 179 140 68 FY21 FY22 FY23 FY21 FY22 FY23 Hotels occupancy Average room rates (in ID
Slide 42: Sustainability
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Slide 43: Sustainability Strategy
Sustainability Strategy ESG Approach ESG Priorities • Fully committed to integrating sustainability in business Environment Social Governance strategy, operations, and governance structure, in line with global best practices Decarbonization roadmap Accessible and affordable Climate risks and and GHG
Slide 44: Sustainability Framework & Governance
Sustainability Framework & Governance SUSTAINABILITY FRAMEWORK SUSTAINABILITY GOVERNANCE VISION Advancing the Well-Being of Indonesians at Every Stage of Life Enhancing Caring for Investing in Our Championing Quality of Life Our Environment People Best Practices Drive sustainable economic Improve re
Slide 45: 2030 Sustainability Agenda
2030 Sustainability Agenda ENHANCING QUALITY OF LIFE CARING FOR OUR ENVIRONMENT INVESTING IN OUR PEOPLE CHAMPIONING BEST PRACTICES AFFORDABLE HOUSING OPERATIONAL EMISSIONS OCCUPATIONAL HEALTH & SAFETY BUSINESS ETHICS 2030 TARGET 2022 PERFORMANCE 2022 PERFORMANCE 2030 TARGET 2022 PERFORMANCE 2030 TAR
Slide 46: 2022 Sustainability Highlights
2022 Sustainability Highlights ENHANCING QUALITY OF LIFE CARING FOR OUR ENVIRONMENT INVESTING IN OUR PEOPLE Rp 14,809B Conducted first bottom-up Developed Group-wide 64 % 40 % >170M Climate Risk Female Decarbonization 16,249 Female senior executives Indonesians served Revenue Assessment Strategy Empl
Slide 47: Community Engagement Framework
Community Engagement Framework Lippo untuk Indonesia PASTI (Pintar, Asri, Sejahtera, Tangguh, Independen) embodies the firm and bold spirit that drives our holistic advancement of Indonesia’s sustainability agenda. We are committed to enhancing our quality of life for all stakeholders in our ecosyste
Slide 48: Green Building Certification
Green Building Certification Two of our biggest malls were awarded EDGE green building certification for sustainable design and resource efficiency Sun Plaza Medan 24% energy savings 35% water savings Rp 8.5Bio utility cost savings per year Lippo Mall Puri 21% energy savings 31% water savings Rp 9Bi
Slide 49: Looking Ahead
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Slide 50: Looking Ahead
Looking Ahead Real Estate Healthcare Lifestyle ▪ We have seen stable Malls’ occupancy rate ▪ We continue to offer innovative product ▪ The Company’s strategy to focus on at 79.0% with +9.2% YoY improvement and offering such as XYZ and Q Livin series to increased complexity and diversity of believe t
Slide 51: Appendices
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Slide 52: Consolidated Statutory Statement of Profit and Loss
Consolidated Statutory Statement of Profit and Loss P&L Highlights (in IDR bn) FY23 FY22 YoY Changes Total Revenues 16,990 14,809 15% COGS (9,479) (8,525) 11% Gross Profit 7,511 6,284 20% Operating Expenses (4,539) (4,302) 5.5% Operating Profit 2,972 1,981 50% Other Income & Expenses - Net 255 (1,88
Slide 53: Consolidated Statutory Statement of Financial Position
Consolidated Statutory Statement of Financial Position Balance Sheet Highlights (in IDR bn) FY23 FY22 FY23 FY22 ASSETS LIABILITIES & EQUITY CURRENT ASSETS CURRENT LIABILITIES Cash & Cash Equivalent 2,650 2,626 Bank Loans 2,787 2,046 Trade Accounts Receivable 1,934 1,742 Lease Liabilities 575 600 Inv
Slide 54: Consolidated Statutory Statement of Cash Flow
Consolidated Statutory Statement of Cash Flow Cash Flow Highlights (in IDR bn) FY23 FY22 YoY Changes Cash at beginning 2,626 4,888 -46% Cash from operating activitites: 2,061 (235) 977% Business operations 2,040 449 354% Placement for restricted funds 21 (684) 103% Cash from investing activities: (9
Slide 55: Cash breakdown
Cash breakdown Cash breakdown – Dec 2023 Cash breakdown – Dec 2022 206 207 (8%) (8%) 13 17 (0%) (1%) 1,245 (47%) 1,336 1,066 (51%) 1,186 (41%) (45%) Consolidated cash: IDR 2,650bn Consolidated cash: IDR 2,626bn Holdco (incld. Subs) LPCK Holdco (incld. Subs) LPCK SILO GMTD SILO GMTD 55
Slide 56: Financial Results (FY23 vs FY22)
Financial Results (FY23 vs FY22) FY23 FY22 Real Estate Healthcare Lifestyle Holdco Total Particulars Real Estate Healthcare Lifestyle Holdco Total Real Estate Healthcare Lifestyle Holdco Total Rp % Rp % Rp % Rp % Rp % Revenue 4,543 11,191 1,257 - 16,990 4,136 9,518 1,155 - 14,809 407 10% 1,672 18% 1
Slide 57: Financial Results (4Q23 vs 3Q23)
Financial Results (4Q23 vs 3Q23) 4Q23 3Q23 Real Estate Healthcare Lifestyle HoldCo Total Particulars Real Estate Healthcare Lifestyle Holdco Total Real Estate Healthcare Lifestyle Holdco Total Rp % Rp % Rp % Rp % Rp % Revenue 1,267 2,945 346 - 4,558 1,094 2,964 301 - 4,358 173 16% (19) -1% 46 15% -
Slide 58: Financial Results (4Q23 vs 4Q22)
Financial Results (4Q23 vs 4Q22) 4Q23 4Q22 Real Estate Healthcare Lifestyle Holdco Total Particulars Real Estate Healthcare Lifestyle Holdco Total Real Estate Healthcare Lifestyle Holdco Total Rp % Rp % Rp % Rp % Rp % Revenue 1,267 2,945 346 - 4,558 1,346 2,587 332 - 4,265 (79) -6% 358 14% 14 4% - 2
Slide 59: Thank You
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Slide 60: Notes
@2LIPPO Notes 60
Slide 61: 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 61
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