Slide 1: Results Presentation 9M24
Results Presentation 9M24 1
Slide 2: Contents
Contents • Key Highlights • Company Overview • Growth Strategy and Project Highlights • Financial Results • Country Overview 2
Slide 3: Key Highlights
Key Highlights
Slide 4: Key Highlights - 9M24 Financial Performance
Key Highlights - 9M24 Financial Performance Total Revenue +8% Net Profit 6,589 7,117 +8% 1,181 1,277 9M23 9M24 9M23 9M24 32.0% EBITDA Margin Property Development Investment Property FY2023: 34.0% Rp5,403bn +6% Rp1,715bn +14% Houses & Shophouses Malls Healthcare 9% Net Cash to Equity Rp4,951bn +18% R
Slide 5: Key Highlights - Reaching Record Marketing Sales
Key Highlights - Reaching Record Marketing Sales A robust performance with Rp8.7tn marketing sales Successful launches in 9M24 with a total contribution (78% of FY24 target) of Rp2.9trillion marketing sales from 1,351 units Marketing Sales (Rpbn) 11,101 New Launches Marketing Sales Units Sold +8% 10
Slide 6: Key Highlights - Consistent Improvement in Investment Properties
Key Highlights - Consistent Improvement in Investment Properties Improving operations in all shopping malls Consistent growth of RevPAR in all hotel assets Mall Revenue (Rpbn) ARR (Rp’000) +17% Revenue Rp572bn +4% (+17% YoY) 673 703 ARR Rp703,000 572 488 (+4% YoY) 9M23 9M24 9M23 9M24 • 87% Occupancy
Slide 7: Key Highlights - Organic Expansion of Investment Properties
Key Highlights - Organic Expansion of Investment Properties Hospital Operational Beds Malls Net Leasable Area (‘000 sqm) Beds CAGR NLA CAGR +10% 736 686 +7% 50 358 616 70 516 546 70 100 486 30 258 416 70 30 2023 2024 2025F 2026F 2027F 2028F 2029F 2024 2029F • Stable pipeline of healthcare assets by
Slide 8: Key Highlights - Asset Valuation Highlights Growth Potential
Key Highlights - Asset Valuation Highlights Growth Potential Fair Value Direct Ownership Rp53.2tn Property Development Joint-Operation Rp68.3tn Adjusted Fair Value Rp80.7tn Rp15.1tn = Number of Shares 18,535,695,255 Investment = Rp4,355 / share Property Rp17.7tn • Fair Value Basis: CTRA’s fair value
Slide 9: Key Highlights - Affordable Mortgage Environment
Key Highlights - Affordable Mortgage Environment BI Rate vs. Mortgage Rate¹ Indonesian House Financing (6M24) 12.0% 11.4% 11.0% 10.3% 10.0% 9.0% 8.0% 7.50% 6.94%2 7.0% 5.75% 6.00% Instalment 6.0% Mortgage 5.0% 6.00%³ 17% 4.25% 76% 4.0% 3.50% 3.0% Cash 2.0% 7% 1.0% 0.0% Jan-11 Jan-12 Jan-13 Jan-14 Ja
Slide 10: Key Highlights - Supportive Government Regulation (VAT Exemption)
Key Highlights - Supportive Government Regulation (VAT Exemption) The government provides VAT exemption for houses, shophouses, and apartments up to a maximum price of Rp5.0bn per unit, exempting the VAT on the first Rp2.0bn of the unit’s value. VAT Exemption Period 100% Nov 2023 – Jun 2024 50% Jul
Slide 11: Company Overview
Company Overview 12
Slide 12: Ciputra at a Glance
Ciputra at a Glance Footprints Financial Highlights Number of Green Building Directly Owned Total Assets (9M24) EBITDA (9M24) Projects Certifications Land Bank Rp46.5tn Rp2.3tn >88 6 2,200 Ha Revenue (9M24) ROAE (9M24) Employees 59% JO Development Rp 7.1tn 8.5% 4,574 Plan Net Profit (9M24) Net Profi
Slide 13: One of Indonesia's Leading Property Developers
One of Indonesia’s Leading Property Developers Property Development Commercial Property Development & Management Malls - 5 projects Townships & Residential - 69 projects Hotels - 9 projects Condominiums - 11 projects Healthcare - 4 projects Offices for Sale - 8 projects Offices for Lease - 4 project
Slide 14: Geographically Diversified Project Portfolio
Geographically Diversified Project Portfolio Kalimantan Over 89 projects CitraGrand Senyiur City Samarinda CitraLand Banjarmasin CitraGarden City Samarinda CitraGarden Banjarmasin in 34 cities across Medan CitraLand City Samarinda CitraGarden Aneka Pontianak Sumatra CitraMitra City Banjarbaru CitraC
Slide 15: Greater Jakarta Project Portfolio
Greater Jakarta Project Portfolio 16
Slide 16: Strong Growth and Geographically Diversified Marketing Sales
Strong Growth and Geographically Diversified Marketing Sales Historical Presales Presales per Location (Rpbn) +8% 2023 9M24 11,101 10,241 Greater Greater Surabaya +11% Surabaya 23% 8,681 Greater 19% Other Java 8,243 7,795 Jakarta 7% Other Java 7,427 52% 8% Greater Sumatra 7,291 Sumatra Jakarta 20% 6
Slide 17: Expanding Middle-Upper Segment Financing with Mortgage
Expanding Middle-Upper Segment Financing with Mortgage Presales per Payment Method Presales per Unit Price 7% 6% 10% 15% 13% 19% 20% 21% 19% 25% 29% 35% 11% 18% 15% 42% 31% 18% 40% 41% 32% 34% 70% 62% 63% 25% 32% 32% 58% 50% 31% 25% 19% 15% 16% 2020 2021 2022 2023 9M24 2020 2021 2022 2023 9M24 Mortg
Slide 18: Sufficient Land Bank to Sustain >15 Years of Development
Sufficient Land Bank to Sustain >15 Years of Development Ownership Gross Land Bank 9M24 Average Unit Project Name Scheme 2022 (Ha) Price (Rpbn) CitraRaya Tangerang 100% 780 1.0 CitraIndah City Jonggol 100% 167 0.6 CitraGarden City Jakarta 100% 78 3.3 CitraGarden Puri Jakarta 100% 1 1.9 CitraLand Cib
Slide 19: Rights to Additional Land Bank Through Joint-Operation Schemes
Rights to Additional Land Bank Through Joint-Operation Schemes Development 9M24 Average Development 9M24 Average Joint Operation Project Joint Operation Project Plan (Ha) Unit Price (Rpbn) Plan (Ha) Unit Price (Rpbn) Citra Sentul Raya 38 1.2 CitraGrand Senyiur City Samarinda 295 0.8 CitraLake Sawang
Slide 20: 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 86% 311 100% The Orchard 31,000 94% 82 100% Ciputra World Jakarta 2 100% The Residence 14,000 96%
Slide 21: 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% 19,200 92% 73 100% Ciputra World Jakarta 2 Tokopedia Tower 100% 28,000 83% 209 100
Slide 22: 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% 64,200 Citra Landmark* JV - 60% 61,000 Ciputra International** JV - 55% 12,000 Citra Towers Kemayoran JO Profit -
Slide 23: Healthy Occupancy and Lease Expiry Profile for Malls
Healthy Occupancy and Lease Expiry Profile for Malls Net Leasable Occupancy Rate Mall Area (sqm) 2020 2021 2022 2023 9M24 Ciputra World Jakarta 1 79,500 100% 100% 100% 100% 100% Ciputra World Surabaya 87,500 94% 90% 74%¹ 77%¹ 69%2 Total mall NLA of 258k sqm Ciputra Mall Jakarta 42,400 93% 82% 89% 93
Slide 24: Well-Diversified Mall Tenants with Reputable Brands
Well-Diversified Mall Tenants with Reputable Brands Mall Tenants Breakdown (% Leased Area) Main Tenants Supermarket Services 4% 4% Healthy & Beauty Department Store 7% 19% General 15% Entertainment & Leisure 19% Fashion and Accessories F&B 16% 16% 26
Slide 25: Consistent Hotel Growth Amidst Normalization Post-COVID Period
Consistent Hotel Growth Amidst Normalization Post-COVID Period Revenue per Available Room (RevPAR) (in Rp’000 /room/day) +13% 1,762 1,569 1,552 1,425 Star Hotels 1,085 +18% +3% +4% 573 523 488 576 561 575 557 576 455 490 469 490 400 373 401 152 223 220 271 2020 2021 2022 2023 9M23 9M24 2020 2021 202
Slide 26: Integrated Healthcare Facilities within Township Projects
Integrated Healthcare Facilities within Township Projects (Rp bn) (Rp bn) Ciputra Hospital Ciputra Hospital Ciputra Mitra Tangerang Jakarta Hospital Revenue - Inpatient Revenue - Outpatient 600 600 500 441 -27% 500 57% 0% -27% 400 16% 400 39% 340 323 322 1% 281 277 300 15% 300 238 244 249 251 180 20
Slide 27: Ciputra Hospital Surabaya Expansion Overview
Ciputra Hospital Surabaya Expansion Overview Ciputra Hospital Surabaya Township & location CitraLand Surabaya at West Surabaya Start operation August 2024 Maximum capacity 200 beds Operational capacity 70 beds Capital expenditure Rp520billion Center of Excellence Cardiology, Oncology, Neurosurgery A
Slide 28: Growth Strategy and Project Highlights
Growth Strategy and Project Highlights
Slide 29: Key Developments
Key Developments 1 2 3 Launched one new projects and >15 new clusters in 35 9M24 presales: Rp8.7tn Recognition in Sustainability existing projects Achievement Combined presales of Rp3.5tn Total 9M24 presales reached • 6 green building certifications (40% of 9M24 achievement) Rp8.7tn (78% of 2024 tar
Slide 30: Growth Strategy
Growth Strategy Retain healthy land bank levels Wide geographical footprint Increase portion of recurring income Continuously replenishing land bank in Allow diversification of products While simultaneously boost synergy by existing projects while searching for and target market while focusing on co
Slide 31: Creating Value to Stakeholders through Sustainability Pillars
Creating Value to Stakeholders through Sustainability Pillars Sustainability Pillars Material Topic UN SDGs Economic Performance Spirit of Excellence and Innovation Indirect Economic Impact Occupational Health and Safety Building Cities, Building Lives Employment Practices Consumer Health and Safety
Slide 32: Sustainability Achievements
Sustainability Achievements Sustainability Metrics 2023 Key Recognitions IDX ESG Leaders Index since 2020 163,770 MWh 6 145,481 ton CO2eq Electricity consumption level Green building certifications GHG Emissions ESG Sector Leaders IDX KEHATI Index since 2021 ESG Quality 45 IDX KEHATI Index 21,111 1,
Slide 33: Commitment to Achieve UN SDGs
Commitment to Achieve UN SDGs UN SDGs Commitment Performed UN SDGs Commitment Performed • Distribution of basic needs assistance to the underprivileged • New projects brought indirect economic impact on local, national, and communities surrounding the Company’s project in more than 7 cities overseas
Slide 34: New Projects 2024 - CitraLand City Sampali
New Projects 2024 CitraLand City Sampali Kota Deli Megapolitan Prime Location 5 minutes Project scheme & location Joint operation in Medan, North Sumatra from H. Anif Launch January 2024 exit toll Development plan Phase 1: 35 ha 25 minutes Market segment Middle and middle-up from Medan city center P
Slide 35: New Projects 2024 - CitraLand Gresik
New Projects 2024 CitraLand Gresik Project scheme & location Joint operation in Gresik, East Java Launch September 2024 Development plan 28 ha Market segment Middle Presales 9M2024 Rp136billion House price range Rp1.1billion to Rp5.4billion Average unit price Rp2.5billion Units sold 60 units Others
Slide 36: Key Projects 2024 - CitraLand Surabaya
Key Projects 2024 CitraLand Surabaya Project scheme & location Directly owned in West Surabaya Launch 1993 Development plan 1,700 ha (sold 801 ha) Market segment Middle to middle-high Presales 9M2024 Rp1,204billion House price range Rp832million to Rp7.8billion Average unit price Rp2.3billion Units
Slide 37: Key Projects 2024 - CitraGarden City Jakarta
Key Projects 2024 CitraGarden City Jakarta Project scheme & location Directly owned in Kalideres, West Jakarta Launch 1984 Development plan 454 ha (sold 364 ha) Market segment Middle to high Presales 9M2024 Rp701billion House price range Rp2.2billion to Rp11.2billion Average unit price Rp3.3billion
Slide 38: Key Projects 2024 - CitraGarden Serpong
Key Projects 2024 CitraGarden Serpong Project scheme & location Joint operation in Tangerang, West of Jakarta Launch February 2023 Development plan 120 ha out of 350 ha masterplan Market segment Middle-low to middle-high Presales 9M2024 Rp698billion House price range Rp803million to Rp4.2billion Ave
Slide 39: Key Projects 2024 - Citra City Sentul
Key Projects 2024 Citra City Sentul Project scheme & location Joint operation in Sentul, South Greater Jakarta Launch October 2023 Development plan 400 ha Market segment Middle-low to middle-high Presales 9M2024 Rp660billion House price range Rp858million to Rp6.8billion Average unit price Rp2.0bill
Slide 40: Key Projects 2024 - CitraRaya Tangerang
Key Projects 2024 CitraRaya Tangerang Project scheme & location Directly owned in Tangerang, West of Jakarta Launch 1994 Development plan 2,760 ha (sold 882 ha) Market segment Middle-low to middle-high Presales 9M2024 Rp443billion House price range Rp150million to Rp4.9billion Average unit price Rp1
Slide 41: Key Projects 2024 - CitraGarden Bintaro
Key Projects 2024 CitraGarden Bintaro Project scheme & location Joint operation in South of Jakarta Launch November 2023 Development plan 28 ha Market segment Middle-low to middle-up Presales 9M2024 Rp393billion House price range Rp1.2billion to Rp4.8billion Average unit price Rp2.5billion Units sol
Slide 42: Key Projects 2024 - CitraLand Tanjung Morawa KDM
Key Projects 2024 CitraLand Tanjung Morawa Kota Deli Megapolitan Project scheme & location Joint operation in Deli Serdang, North Sumatra Launch November 2022 Development plan Phase 1: 15 ha out of 50 ha Market segment Middle-low Presales 9M2024 Rp318billion House price range Rp473million to Rp1.7bi
Slide 43: Key Projects 2024 - CitraLand Gama City Medan
Key Projects 2024 CitraLand Gama City Medan Project scheme & location Joint operation in Medan, North Sumatra Launch February 2013 Development plan 123 ha out of 211 ha masterplan Market segment Middle and middle-up Presales 9M2024 Rp212billion House price range Rp1.3billion to Rp7.6billion Average
Slide 44: Key Projects 2024 - CitraLand Tallasa City Makassar
Key Projects 2024 CitraLand Tallasa City Makassar Project scheme & location Joint operation in Makassar, South Sulawesi Launch May 2017 Development plan 69 ha (sold 39 ha) Market segment Middle Presales 9M2024 Rp210billion House price range Rp783million to Rp6.8billion Average unit price Rp1.8billio
Slide 45: Financial Results
Financial Results a 7) eee
Slide 46: Results Summary (Income Statement)
Results Summary (Income Statement) (Rpbn) 9M24 9M23 % YoY Effect of +6.3% YoY in Property Development segment and +13.9% Revenue 7,117 6,589 8.0% YoY in Recurring segment COGS (3,696) (3,469) 6.5% Gross Profit 3,422 3,121 9.7% Gross Profit Margin 48.1% 47.4% Effect of product mix Operating Expense (
Slide 47: Results Summary (Revenue Breakdown and Margin Performance)
Results Summary (Revenue Breakdown and Margin Performance) (Rpbn) 9M24 9M23 % YoY Revenue Breakdown Property Development Revenue 5,403 5,083 6.3% Houses, shophouses, and land lots 4,951 4,205 17.7% Apartments 270 500 -46.0% Office for sale 182 379 -52.0% Recurring Revenue 1,715 1,506 13.9% Shopping
Slide 48: Focusing on Property Development and Minimizing Concentration Risk
Focusing on Property Development and Minimizing Concentration Risk Revenue per Segment (9M24) Revenue per Location (9M24) Office Strata Greater Surabaya Other 2% Apartment Strata 18% Java 4% Shopping Malls 12% 8% Hotels 5% Sumatra 13% Healthcare 7% Houses, Others shophouses, 4% Sulawesi and land lot
Slide 49: Solid Development Revenue Combined by Stable Recurring Revenue
Solid Development Revenue Combined by Stable Recurring Revenue Rp tn Development vs. Recurring Revenue 11.0 10.0 9.0 1.7 8.0 1.9 2.1 7.0 1.5 1.9 23% 1.7 6.0 21% 25% 5.0 17% 24% 4.0 18% 8.0 6.6 7.2 7.1 3.0 5.7 5.4 2.0 1.0 - 2019 2020 2021 2022 2023 9M24 Development Revenue Recurring Revenue Recurring
Slide 50: Debt Profile
Debt Profile Floating Rupiah As of Sep-24 Fixed 78% SGD 78% 22% Total Borrowings: Rp8.0tn 22% Borrowing Cost* Maturity Profile (% of total debt) (Rptn) 12.0% 5.0 10.3% 10.2% 10.4% 57% 4.5 10.0% 8.4% 8.3% 8.3% 4.0 8.0% 7.4% 3.5 3.0 6.0% 2.5 21% 2.0 4.0% 1.5 10% 1.0 2.0% 7% 2% 2% 1% 1% 0.5 0.0% 0.0 20
Slide 51: Selective Land Banking and Expanding Investment Properties
Selective Land Banking and Expanding Investment Properties Historical Capex Rptn Land for Development 2.1 82% 9M24 Hospital 2.1tn 12% 1.3 1.1 1.1 0.8 0.8 Others 6% 0.7 2018 2019 2020 2021 2022 2023 9M24 Stategic land acquisitions in Makassar and Sentul, and new hospital asset in Surabaya 53
Slide 52: Resilient Financial Performance with Continuous Growth
Resilient Financial Performance with Continuous Growth Revenue Gross Profit 9,730 9,127 9,245 8,071 4,840 7,608 7,117 4,568 4,559 6,589 4,121 3,792 3,422 3,121 51% 50% 50% 50% 49% 47% 48% 2019 2020 2021 2022 2023 9M23 9M24 2019 2020 2021 2022 2023 9M23 9M24 Gross Profit Gross Margin Net Profit Key R
Slide 53: Balance Sheet Summary
Balance Sheet Summary Rpbn Sep 2024 Dec 2023 Dec 2022 Dec 2021 Dec 2020 Dec 2019 Assets 46,513 44,115 42,033 40,668 39,255 36,196 Cash & cash equivalents 10,080 10,601 9,050 7,162 5,276 4,238 Land 16,958 15,296 14,495 14,538 14,471 13,523 Fixed Assets 3,029 2,835 2,691 2,504 2,595 3,089 Investment P
Slide 54: Country Overview
lew > i oD) => Oo ~ — aa) (= > (e) UO
Slide 55: Encouraging Macro Conditions
Encouraging Macro Conditions Real GDP Growth 4.88% 5.03% 5.07% 5.17% 5.02% 5.31% 5.04% Solid economic growth accelerating 3.69% middle class formation and increasing housing demand Home Ownership Loan Outstanding (Rptn) -2.07% 2015 2016 2017 2018 2019 2020 2021 2022 2023 700 15.0% 600 Housing Loan a
Slide 56: Property Price Index
Property Price Index Source of Consumer Financing (6M24) • Mortgage consistently being Indonesian customers’ preference, even with increased interest rate due to inflation. • There is an imperfect correlation between mortgage rate and Mortgage Instalment benchmark rate. 76% 17% • The composite Resid
Slide 57: Favorable Population Structure
Favorable Population Structure Percentage of population in urban and rural areas Population by Age Group and 100% Dependency Ratio 90% 51.1 80% 47.5 47.7 70% 60% 5.0% 6.3% 9.2% 50% 40% 66.2% 67.8% 67.7% 30% 20% 10% 28.8% 25.9% 23.1% 0% 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010
Slide 58: Regulatory Support from the Government
Regulatory Support from the Government Increased maximum Loan-to-Value (LTV) to Allowed foreigners to own apartments over 100% for all mortgages. Hak Guna Bangunan (HGB) land. Increased limit for mortgages for units under Relaxed the permit requirements for foreigners construction from 2 to 5. to be
Slide 59: Appendix
Appendix
Slide 60: Corporate Structure
Corporate Structure PT Sang Pelopor Public 53.31% 46.69% (18,535,695,255 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 7.43% & Subsidiaries IND
Slide 61: Corporate Milestones
Corporate Milestones 2006 : - Issuance of 2.4 billion shares 2017 : - Merger with CTRS and CTRP without pre-emptive rights for - Issuance of MTN - SGD150 million 1994 : IPO and listing on JSX 1997 : Economic crisis hit debt settlement 2020 : - Included in IDX ESG Leaders Index 1995 : Issuance of Not
Slide 62: We are well positioned in Indonesia's current property outlook
We are well positioned in Indonesia’s current property outlook Company’s Strengths Business Prospects Focus on real estate business Increase in housing needs Urbanization trends Most diversified in market targets, products offered & project locations Change in customers’ lifestyle Large land bank at
Slide 63: Experienced Management Team - Board of Commissioners
Experienced Management Team - Board of Commissioners Rina Ciputra Sastrawinata Kodradi - Chairman - Independent member Tanan H. Antonius Junita Ciputra - Independent member Thomas Bambang Sandra Hendharto - Independent member 65
Slide 64: Experienced Management Team - Board of Directors
Experienced Management Team - Board of Directors Candra Ciputra - President Artadinata Djangkar Budiarsa Sastrawinata MI Meiko Handoyo Harun Hajadi Nanik J. Santoso Cakra Ciputra Sutoto Yakobus Agussurja Widjaja Tulus Santoso - Corporate Secretary 66
Slide 65: 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 66: Thank you
Thank you For enquiries, please contact: Aditya Ciputra Sastrawinata, Head of Investor Relations investor@ciputra.com PT Ciputra Development Tbk Ciputra World 1, DBS Bank Tower 39th Floor Jl. Prof. Dr. Satrio Kav. 3-5, Jakarta 12940 – Indonesia (6221) 2988 5858 www.ciputradevelopment.com