Pt Lippo Cikarang Tbk · IDX:LPCK
Pt Lippo Cikarang Tbk — 1H 2019 Earnings Presentation
39 slides from Pt Lippo Cikarang Tbk's earnings presentation, September 2019
Slide 1: PT Lippo Cikarang Tbk 1H19 Results Presentation
PT Lippo Cikarang Tbk 1H19 Results Presentation September 2019
Slide 2: Contents
Contents Shareholder Structure 03 - 04 1H19 Financial Data 05 – 11 Meikarta 12 – 19 Projects Data 20 – 27 Lippo Cikarang Map and Corporate Structure 28 - 30 Appendix 31 - 38
Slide 3: Shareholder Structure
Shareholder Structure
Slide 4: Shareholder Structure
Shareholder Structure As of 30 June 2019 As of 31 Dec 2018 Number of Number of Changes YoY Description Number of Shares % Number of Shares % No. Investor Investor (%) I. Domestic Individual 5,712 124,822,714 17.9% 4,632 116,393,914 16.7% 7.2% Foundation 1 12,500 0.0% 1 12,500 0.0% 0.0% Pension Fund
Slide 5: 1H19 Financial Data
1H19 Financial Data
Slide 6: Key Financial Highlights
Key Financial Highlights 1H 2019 1H 2018 Change (%) Presales (Rp billion) 451 134 237% Revenue (Rp Billion) 686 1,154 -41% Recurring Revenue (Rp billion) 181 157 15% EBITDA (Rp Billion) 209 415 -50% EBITDA Margin 31% 36% -2% Net Income (Rp billion) 210 2,042 -90% Net Debt/Equity Ratio (X) -0.09 -0.0
Slide 7: Summary of balance sheet and marketing sales
Summary of balance sheet and marketing sales IDR Billion Dec 2015 Dec 2016 Dec 2017 Dec 2018 Jun 2019 Assets 5,477 5,727 11,267 9,226 9,899 Debt 30 - 249 - 200 Liability 1,813 1,483 4,734 1,696 1,745 Equity 3,633 4,244 6,533 7,530 8,154 Return on Assets 16.7% 9.4% -7.3% 21.3% 8.5% Return on Equity 2
Slide 8: Balance Sheet
Balance Sheet (Rp Bn Consolidated) ASSETS 1H 2019 FY 2018 LIABILITIES & STOCKHOLDERS' EQUITY 1H 2019 FY 2018 Current Assets Current Liabilities Cash & Cash Equivalent 958 623 Bank Loan 200 - Accounts Receivable 242 295 Accounts Payable 273 272 Available for Sale Financial Assets 249 218 Accrued Exp.
Slide 9: Highly underleveraged balance sheet
Highly underleveraged balance sheet Summary Total Assets Total capitalization 14,000 9,000 200 12,000 8,000 259 7,000 249 233 10,000 3,114 75 578 6,000 3,584 8,000 121 3,471 5,000 71 - 6,000 623 958 4,000 7,895 7,297 2,820 1,739 1,786 3,000 6,458 4,000 680 8,045 2,000 4,173 106 2,000 3,967 4,146 1,0
Slide 10: Income statement: 1H18 Revenue and Net Income impacted by one time gains
Income statement : 1H18 Revenue and Net Income were impacted from one time gains (in Rp million) 2Q 2019 2Q 2018 Change % 1H 2019 1H2018 Change % Total Revenues 287,132 834,413 (547,281) -66% 686,490 1,154,047 (467,557) -41% COGS 170,330 308,927 (138,597) -45% 401,206 477,318 (76,112) -16% Gross Pro
Slide 11: Income statement highlights
Income statement highlights Property marketing sales (RpBn) Revenue (RpBn) 237 340 77 206 464 1,708 386 267 285 857 629 445 240 33 576 15 54 2 81 210 336 158 250 181 133 53 29 311 1,129 13 943 974 935 69 6- 69 123 757 703 638 652 71 309 363 54 424 8 54 59 83 2014 2015 2016 2017 2018 1H19 2014 2015 2
Slide 12: Meikarta
Meikarta
Slide 13: Strategic region for growth
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) ELEVATED
Slide 15: Future Infrastructure Under Construction
Future Infrastructure Under Construction Kertajati Airport Elevated Toll Road Jakarta-Cikampek Opened in May 2018 To be completed in 2020 LRT Jakarta-East Bekasi High Speed Train Jakarta Bandung To be completed in 2021 To be completed in 2022 15
Slide 16: Meikarta: our next development initiative (cont'd)
Meikarta: our next development initiative (cont’d) Investment in LPCK / Meikarta Sources Uses (in US$m) LPCK will launch a concurrent rights issue to raise the funds required for the completion of its Meikarta project LPKR will act as standby purchaser to the US$200m rights 180 issuance of LPCK
Slide 17: Meikarta: Significant progress year to date
Meikarta: Significant progress year to date • 3 January 2019 • 26 July 2019 ~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 Tower Ex. A :
Slide 18: Meikarta Construction Progress 26 July 2019
Meikarta Construction Progress 26 July 2019 Completed to Floor 28 Completed to Floor 29 Completed to Floor 24 18
Slide 19: Central Park at Meikarta
Central Park at Meikarta 19
Slide 20: Projects Data
Projects Data
Slide 21: Waterfront - Affordable Landed Residential Housing
Waterfront - Affordable Landed Residential Housing American Style 21
Slide 22: Waterfront - Affordable Landed Residential Housing
Waterfront - Affordable Landed Residential Housing American Style 22
Slide 23: Waterfront - Affordable Landed Residential Housing
Waterfront - Affordable Landed Residential Housing American Style 23
Slide 24: TRIVIUM
TRIVIUM North Tower Launched : 24 Nov 2012 SGA Sold : 20,142 sqm ASP : Rp 12,1 Mil / sqm Pre – Sold : Rp 245 bil (100%) North Tower South Tower The Suites Payment : Cash 19% (368 unit) (422 unit) (362 unit) Profile Mortgage 23% Instalment 58% South Tower Launched : 1 Jun 2013 SGA Sold : 22,081 sqm A
Slide 25: Orange County
Orange County IRVINE SUITES Launched : 29 Nov 2014 SGA Sold : 24,545 sqm ASP : Rp 13,6 Mil / sqm Pre – Sold : Rp 333 bil (100%) Payment : Cash 5% Profile Mortgage 3% Instalment 92% WESTWOOD SUITES Launched : 29 Nov 2014 Glendale Park Pasadena Suites SGA Sold : 21,677 sqm (505 units) (408 units) ASP
Slide 26: Progress of Orange County
Progress of Orange County Start from 1 SEPTEMBER 2018 Naar _” “STwa@D = ¥ Wes HAND OVER of PASADENA | TEs Nes af e 23 ) Mf \y ®D LIPPO LIPPO GROUP = |CIKARANG|
Slide 27: Complete Public Facilities
Complete Public Facilities WATER BOOM INTERNATIONAL HOSPITAL COMMERCIAL CENTER INTERNATIONAL SCHOOL Leisure & Excitement Siloam Hospital Easton Commercial Center Sekolah Pelita Harapan 5 STARS HOTEL 4 STARS Hotel SERVICED APARTMENTS SHOPPING MALL LIFESTYLE MALL Hotel Sahid Jaya & Grand Zuri Hotel AX
Slide 28: Lippo Cikarang Map and Corporate Structure
Lippo Cikarang Map and Corporate Structure
Slide 29: Map Lippo Cikarang
Map Lippo Cikarang Existing Industrial Orange County Industrial Landbank EJIP (Sumitomo) BIIE (Hyundai) Existing Residential Houses > 17,192 Residential Condominium > 4,466 Shophouses > 1,216 Industrial > 1,316 Global Client Toyota Tsusho, Hankook, Danone, Epson, Haier, KIA Mitsubishi Corp, Sanko So
Slide 30: Corporate Structure (Post Rights Issue)
Corporate Structure (Post Rights Issue) PT LIPPO KARAWACI TBK PUBLIC BELOW PT LIPPO KARAWACI Tbk Other PT KEMUNING 5% Subsidiaries SATIATAMA 77,84% 3,16% 19.00% As of 31 July 2019 No. of outstanding share 2.679.600.000 Code : LPCK IJ Lippo Cikarang Orange County East Jakarta Corridor Trivium Terra
Slide 31: Appendix
Appendix LIPPO GROUP E
Slide 32: Indonesian Property Potential for growth
Indonesian Property Potential for growth ASIA PACIFIC PROPERTY Rapid urbanisation Growing middle–class RENTAL YIELD Strong savings and income growth INDONESIA Low mortgage penetration 8.61% Property as investment PHILLIPINES 6.13% Improving regulatory environment THAILAND 5.13% Banking
Slide 33: Foreign ownership remains a challenge
Foreign ownership remains a challenge 33
Slide 34: Overview of Jakarta's Condominium market
Overview of Jakarta’s Condominium market Quarterly & Annual Condominium Sales 25,000 8,000 7,000 20,000 6,000 5,000 15,000 Units 4,000 Units 10,000 3,000 2,000 5,000 1,000 0 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 0 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14
Slide 35: Overview of Jakarta's Industrial Market
Overview of Jakarta’s Industrial Market AKARTA INDUSTRIAL MARKET 35
Slide 36: 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 37: LPCK trading performance
LPCK trading performance Price to Book as of 5 September 2019 2.5 2.2 x 2.0 1.5 1.2 x 0.9 x Peers average 1.0x 1.0 0.7 x 0.7 x 0.4 x 0.5 0.1 x - DMAS KIJA SSIA BEST BKSL MDLN LPCK Source : Bloomberg as at 5 September 2019; Peers average determined based on the simple average P/BV ratio of DMAS, KIJA
Slide 38: 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. Sambuaga Sugiono Djauhari Ali Said Hadi Cahyadi Didik J. Rachbini President Commissioner Commissioner Independent Independent Independent Commissioner Commissioner C
Slide 39: Investor Relations
Investor Relations Bret Ginesky Head of Investor Relations Email : bret.ginesky@lippokarawaci.co.id Telp : +62 21 25669078 Website : www.Lippo-Cikarang.com