Pt Lippo Cikarang Tbk · IDX:LPCK
Pt Lippo Cikarang Tbk — H1 2020 Earnings Presentation
29 slides from Pt Lippo Cikarang Tbk's earnings presentation, August 2020
Slide 1: PT Lippo Cikarang Tbk 1H20 Results Presentation
PT Lippo Cikarang Tbk 1H20 Results Presentation August 2020
Slide 2: Contents
Contents Shareholder Structure 03 - 04 FY19 Financial Data 05 – 11 Meikarta 12 – 19 Projects Data 20 – 29 Lippo Cikarang Map and Corporate Structure 30 - 32 Appendix 33 - 41
Slide 3: Shareholder Structure
Shareholder Structure
Slide 4: Shareholder Structure
Shareholder Structure As of 30 June 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 5,982 259,262,125 9.7% 6,779 244,925,625 9.1% 5.9% Foundation 1 12,500 0.0% 1 12,500 0.0% 0.0% Pension Fund 17 699,7
Slide 5: 1H20 Financial Data
1H20 Financial Data
Slide 6: Key Financial Highlights
Key Financial Highlights 1H20 1H19 Change (%) Presales (Rp billion) 544 451 21% Revenue (Rp billion) 1,088 686 59% Recurring Revenue (Rp billion) 191 181 5% EBITDA (Rp billion) 327 209 56% EBITDA Margin 30.1% 30.5% N.A. Net Income (Rp billion) 400 210 91% Net Debt/Equity Ratio (X) - 0.03 - 0.03 N.A.
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 Jun 2020 Assets 5,727 11,267 9,226 12,219 13,694 Debt - 249 - 200 700 Liability 1,483 4,734 1,696 1,337 3,107 Equity 4,244 6,533 7,530 10,882 10,587 Return on Assets (%) 9.4% -7.3% 21.3% 2.5%
Slide 8: Balance Sheet
Balance Sheet (Rp bn, consolidated) ASSETS 1H20 FY19 LIABILITIES & STOCKHOLDERS' EQUITY 1H20 FY19 Current Assets Current Liabilities Cash & Cash Equivalent 1,050 523 Bank Loan 524 200 Account Receivable 48 267 Accounts Payable 140 114 Available for Sale Financial Assets 113 230 Accrued Exp. & Taxes
Slide 9: Highly underleveraged balance sheet
Highly underleveraged balance sheet Total Assets (Rp Bn) Total capitalization (Rp Bn) 16,000 12,000 14,000 200 312 700 213 10,000 12,000 4,912 10,000 2,523 8,000 4,928 223 578 1,050 249 75 8,000 121 2,896 6,000 523 1,573 10,570 10,373 6,000 623 1,690 1,739 4,000 7,297 4,000 8,045 6,458 6,159 2,000 2
Slide 10: Income statement 1H20 and 1H19
Income statement 1H20 and 1H19 (in Rp bn, unless stated otherwise) 2Q20 2Q19 YoY change % 1H20 1H19 YoY change % Total revenue 514 287 227 79% 1,088 686 402 59% COGS (312) (170) (141) 83% (616) (401) (215) 54% Gross Profit 202 117 86 73% 472 285 187 65% Operating Expenses (84) (41) (43) 105% (157) (
Slide 11: Income statement highlights
Income statement highlights Property marketing sales (RpBn) Revenue (RpBn) 16 - 52 1 81 340 77 327 285 368 21 - 33 191 857 367 54 167 135 57 123 387 119 12 71 87 8 54 1,129 935 825 721 54 935 177 345 2017 2018 2019 1H20 2017 2018 2019 1H20 Residential Commercial Industrial DS 8 Orange County Residen
Slide 12: Meikarta
Meikarta
Slide 13: Strategic region for growth – Between Jakarta & Bandung
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 14: 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 15: 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 15
Slide 16: Meikarta: Significant progress since 2019, Handovers Commence
Meikarta: Significant progress since 2019, Handovers Commence June 2019 June 2020 ~500ha of total landbank for long term development over phases Phase 1 ▪ Consists of ~84 ha ▪ Significant funds already invested into key foundation infrastructure for “Phase 1 +” Phase 1A ▪ Consists of ~28 ha ▪ 62 tow
Slide 17: Meikarta Construction Progress June 2020
Meikarta Construction Progress June 2020 17
Slide 18: Central Park at Meikarta
Central Park at Meikarta 18
Slide 19: Projects Data
Projects Data
Slide 20: Waterfront - Affordable Landed Residential Housing
Waterfront - Affordable Landed Residential Housing Riverside Cluster Launch date : Mar-20 Area sold (sqm) : 18,235 Avg price per unit (Rp m) : 846.58 Sold value (Rp m) : 198,946 Payment profile : Cash 7% Mortgage 77% Installment 16% American Style Silvercreek Cluster Launch date : Mar-20 Area sold (
Slide 21: Orange county have started hand over of units
Orange country have started hand over of units 27
Slide 22: Lippo Cikarang Map and Corporate Structure
Lippo Cikarang Map and Corporate Structure
Slide 23: Corporate Structure (Post Rights Issue)
Corporate Structure (Post Rights Issue) PT LIPPO KARAWACI TBK PT KEMUNING PT LIPPO KARAWACI Tbk Other PUBLIC BELOW SATIATAMA Subsidiaries 5% 77,84% 3,16% 19.00% As of 30 June 2020 No. of outstanding share 2.679.600.000 Code : LPCK IJ Lippo Cikarang Orange County East Jakarta Corridor ▪ Trivium Terra
Slide 24: Appendix
Appendix LIPPO GROUP IE
Slide 25: Foreign ownership remains a challenge
Foreign ownership remains a challenge 34
Slide 26: 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 27: 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 4-Jun-15 4-Jun-17 4-Jun-19 (1,500) -2 s.d Price to Book as of 30 July 2020 1.8 1.6 1.6 1.4 1.2 1.0 0.8 0.6 Peers average 0.5x 0.6 0.4 0.4 0.3 0.3 0.2 0.2 0.1 - DMAS KIJA SSIA BEST BKSL LPCK MDLN Source : Bloo
Slide 28: Board of Commissioners and Directors
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 29: Investor Relations
Investor Relations Tevilyan Yudhistira Rusli Chief Financial Officer : Yudhistira.Rusli@lippokarawaci.co.id : +62 21 25669055 : www.Lippo-Cikarang.com