Slide 1: Results Presentation (12M18)
Results Presentation (12M18)
Slide 2: Results Summary (Income Statement)
Results Summary (Income Statement) (Rp bn) 12M18 12M17 % YoY Effect of +25% YoY in Property Development segment Revenue 7,670 6,443 19% and +4% YoY in Recurring segment COGS (4,042) (3,445) 17% Gross Profit 3,628 2,997 21% Gross Profit Margin 47% 47% Effect of product mix Operating Expense (1,583) (
Slide 3: Results Summary (Revenue Breakdown and Margin Performance)
Results Summary (Revenue Breakdown and Margin Performance) (Rp bn) 12M18 12M17 % YoY Revenue Breakdown Property Development Revenue 5,895 4,734 25% Houses, shophouses, and land lots 4,057 3,622 12% Recognition from CitraLand Surabaya Northwest area launched in 4Q15 Apartments 1,409 716 97% Recogniti
Slide 4: Results Summary (Revenue per Segment and per Location)
Results Summary (Revenue per Segment and per Location) Revenue per Segment (12M18) Revenue per Location (12M18) Apartment Greater Strata Office Strata Surabaya 18% 6% 27% Shopping Malls 10% Hotels 6% Other Java 13% Others 7% Sumatra Houses, 5% shophouses, and Greater Jakarta Sulawesi land lots 52% O
Slide 5: Results Summary (Historical Revenue Breakdown)
Results Summary (Historical Revenue Breakdown) Rp tn Development vs. Recurring Revenue 9.0 8.0 7.0 1.4 1.8 27% 6.0 1.6 1.1 1.7 5.0 23% 0.8 18% 24% 18% 4.0 3.0 16% 6.1 5.9 5.2 5.1 4.7 2.0 4.2 1.0 - 2013 2014 2015 2016 2017 2018 Development Revenue Recurring Revenue Recurring as % of Total Revenue • C
Slide 6: Debt Profile
Debt Profile As of Dec-18 Floating Fixed Rupiah SGD 21% 22% 77% Total Borrowings: Rp8.5tn 78% USD 2% (Rp tn) Maturity Profile (% of total debt) 2.5 28% 2.0 Borrowing Cost* 19% 1.5 12.7% 12.1% 11.7% 10.3% 10.2% 14% 14% 1.0 8% 7% 7% 0.5 3% 0.0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 202
Slide 7: Capex Schedule
Capex Schedule Mall 7% Office for Lease 6% Hotel 2% Others 12% Historical Capex Rp tn 2.1 2.0 12M18 1.3 1.3tn 0.9 Land for Development 73% 2015 2016 2017 2018 • Land acquisition capex largely for land reclamation project in Makassar - Business Presentation 7
Slide 8: Financial Highlights
Financial Highlights Revenue Gross Profit (Rp bn) (Rp bn) 3,724 3,628 3,330 3,290 2,997 7,514 7,670 2,546 6,340 6,739 6,443 5,077 53% 50% 50% 49% 47% 47% 2013 2014 2015 2016 2017 2018 2013 2014 2015 2016 2017 2018 Gross Profit Gross Margin Net Profit Key Ratios (Rp bn) 1,685 1,645 1.9 2.0 1.9 1.6 1.
Slide 9: Balance Sheet Summary
Balance Sheet Summary Rp bn Dec 2018 Dec 2017 Dec 2016 Dec 2015 Assets 34,289 31,872 29,169 26,259 Cash & cash equivalents 3,243 3,240 3,471 3,034 Land 13,048 11,696 10,109 9,229 Fixed Assets 3,114 3,144 3,034 2,962 Investment Properties 4,962 4,762 4,908 4,521 Others 9,921 9,031 7,647 6,512 Liabili
Slide 10: Company Overview
Company Overview Eo CIPUTRA DEVELOPMENT TBK
Slide 11: One of Indonesia's Leading Property Developer
One of Indonesia’s Leading Property Developer Property Development for Sale Township Residential Condominium Office Core Business Commercial Property Development & Management Shopping Hotel Serviced Office Others Mall Apartments - Business Presentation 11
Slide 12: 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 13: Greater Jakarta Project Portfolio
Greater Jakarta Project Portfolio - Business Presentation 13
Slide 14: Marketing Sales Summary
Marketing Sales Summary Historical Presales Presales per Location (Rp bn) 2018 2019T 9,179 Greater Other Greater Other 991 Surabaya Java Surabaya Java 7,640 21% 22% 19% 21% 7,186 431 480 3,099 6,363 Sumatra Sumatra 172 6,023 Greater 14% Greater 1,625 2,661 279 16% Jakarta Jakarta 32% Sulawesi 34% Su
Slide 15: 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 16: 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 17: 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 18: 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 19: 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 20: Unsold Apartment and Office Stock Completion Schedule
Unsold Apartment and Office Stock Completion Schedule - Business Presentation 20
Slide 21: 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 22: 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 23: 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 24: Growth Strategy and Project Highlights
Growth Strategy and Project Highlights
Slide 25: Key Developments
Key Developments • Launched new clusters/towers in 22 projects with a combined presales of Rp3.0tn (47% of 2018 achievement) • Total 2018 presales reached Rp6.4tn (82% of FY18 target) • Conducted an en bloc sale of 253 apartment units to Diener Syz Real Estate in Ciputra World Jakarta 2 • Booked as
Slide 26: 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 27: 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 28: 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 29: 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 30: 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 31: 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 32: 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 33: 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 34: 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 35: 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 36: Country Overview
Country Overview Eo CIPUTRA DEVELOPMENT TBK
Slide 37: Encouraging Macro Conditions
Encouraging Macro Conditions Robust economic growth accelerating middle class formation and increasing housing demand - Business Presentation 37
Slide 38: Favorable Population Structure
Favorable Population Structure More than half of the Indonesian population lives in Rising working age population urban areas since 2010 and it is estimated to reach leading to a reduction in almost three-quarters by 2050 dependency ratio and promoting economic growth - Business Presentation 38
Slide 39: Regulatory Support from the Government
Regulatory Support from the Government Increased Loan-to-Value (LTV) for mortgages (e.g. first mortgage LTV relaxed from 85% to 100%). Plans 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 still
Slide 40: Appendix
Appendix Eo CIPUTRA DEVELOPMENT TBK
Slide 41: 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 42: Corporate Milestones
Corporate Milestones Capital raising & corporate actions -> Strengthening 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 dividend d
Slide 43: 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 44: 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 45: 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 46: 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 47: Notes
Notes - Business Presentation 47
Slide 48: PT Ciputra Development Tbk
@ PT Ciputra Development Tbk