Slide 1: Results Presentation 3M24
Results Presentation 3M24 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 - Achieve All-Time High Marketing Sales Record
Key Highlights - Achieve All-Time High Marketing Sales Record A stronger-than-expected start with Rp3.3tn Successful launches in 1Q24 with a total contribution marketing sales (30% of FY24 target) of Rp1.3trillion marketing sales from 483 units Marketing Sales (Rp bn) 11,101 +8% 10,241 New Launches
Slide 5: Key Highlights - Consistent Improvement in Investment Properties
Key Highlights - Consistent Improvement in Investment Properties Improving operations in all shopping malls Steady RevPAR growth in all hotel assets Mall Revenue (Rp bn) ARR (Rp’000) +2% YoY +17% • 3M24 Revenue Rp188bn YoY 188 (+17% YoY) 654 665 • 3M24 ARR Rp665,000 161 (+2% YoY) 3M23 3M24 3M23 3M24
Slide 6: Key Highlights - Strong Capital Position
Key Highlights - Strong Capital Position Improving balance sheet Ample liquidity 57% Cash (Rpbn) 49% 43% 36% 35% 27% 12% -1% 10,654 9,133 -11% -11% 2020 2021 2022 2023 3M24 3M23 3M24 Debt to Equity Net Debt to Equity • Balance between strategic land banking • Improving balance sheet strength from an
Slide 7: Key Highlights – Supportive Government Regulation: VAT Incentives
Key Highlights – Supportive Government Regulation: VAT Incentives • The government provides a VAT incentive for houses, shophouses, and apartments up to a maximum price of Rp5.0bn per unit, subsidizing the VAT on the first Rp2.0bn of the unit’s value. VAT Exemption Period 100% Nov 2023 – Jun 2024 50
Slide 8: Company Overview
Company Overview 9
Slide 9: Ciputra at a Glance
Ciputra at a Glance Footprints Financial Highlights Number of Green Building Directly Owned Total Assets (3M24) EBITDA (3M24) Projects Certifications Land Bank Rp45.1tn Rp0.8tn >88 6 2,200 Ha Revenue (3M24) ROAE (3M24) Employees 59% JO Land Bank Rp 2.3tn 9.8% 4,574 41% 4,057 Ha Net Profit (3M24) Net
Slide 10: One of Indonesia’s Leading Property Developer
One of Indonesia’s Leading Property Developer Property Development for Sale Commercial Property Development & Management Shopping Mall - 5 projects Township & Residential - 68 projects Hotel - 9 projects Condominium - 11 projects Healthcare - 3 projects Strata/Office for Sale - 8 projects Office for
Slide 11: Geographically Diversified Project Portfolio
Geographically Diversified Project Portfolio Kalimantan Over 88 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 12: Greater Jakarta Project Portfolio
Greater Jakarta Project Portfolio 13
Slide 13: Strong Growth and Geographically Diversified Marketing Sales
Strong Growth and Geographically Diversified Marketing Sales Historical Presales Presales per Location (Rpbn) +8% 2023 3M24 11,101 10,241 Other Java Greater Greater 4% Surabaya Surabaya 19% 19% 8,243 Greater Jakarta Sumatra Other Java 7,427 52% 37% 7,291 8% Greater Sumatra Jakarta 6,954 Sulawesi 11%
Slide 14: Expanding Middle Segment with Mortgage as Most Popular Form of Payment
Expanding Middle Segment with Mortgage as Most Popular Form of Payment Presales per Payment Method Presales per Unit Price 7% 6% 15% 13% 12% 19% 20% 16% 25% 21% 13% 29% 35% 18% 15% 31% 18% 40% 41% 54% 32% 34% 71% 62% 63% 25% 32% 58% 50% 23% 31% 25% 19% 15% 12% 2020 2021 2022 2023 3M24 2020 2021 2022
Slide 15: Sufficient Land Bank to Sustain >15 Years of Development
Sufficient Land Bank to Sustain >15 Years of Development Ownership Gross Land Bank 3M24 Average Unit Project Name Scheme 2022 (Ha) Price (Rpbn) CitraRaya Tangerang 100% 780 1.2 CitraIndah City Jonggol 100% 167 0.5 CitraGarden City Jakarta 100% 78 3.2 CitraGarden Puri Jakarta 100% 1 1.9 CitraLand Cib
Slide 16: Rights to Additional Land Bank Through Joint-Operation Schemes
Rights to Additional Land Bank Through Joint-Operation Schemes Development 2023 Average Development 2023 Average Joint Operation Project Joint Operation Project Plan (Ha) Unit Price (Rpbn) Plan (Ha) Unit Price (Rpbn) Citra Sentul Raya 38 1.0 CitraGrand Senyiur City Samarinda 295 0.9 CitraLake Sawang
Slide 17: 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 18: 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 19: 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 20: 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 3M24 Ciputra World Jakarta 1 79,500 100% 100% 100% 100% 100% Ciputra World Surabaya 87,500 94% 90% 74%* 77%* 74%* Total mall NLA of 257k sqm Ciputra Mall Jakarta 43,600 93% 82% 89% 93
Slide 21: Well-Diversified Mall Tenants with Reputable Brands
Well-Diversified Mall Tenants with Reputable Brands Mall Tenants Breakdown (% Leased Area) Reputable Tenants Supermarket Services 4% 4% Healthy & Beauty Department Store 7% 19% General 15% Entertainment & Leisure 19% Fashion and Accessories 16% F&B 16% 23
Slide 22: Steady Growth Amidst Normalization Post-COVID Period
Steady Growth Amidst Normalization Post-COVID Period Revenue per Available Room (RevPAR) (in Rp’000) -5% 1,569 1,627 1,546 1,425 Star Hotels 1,085 +1% -3% 573 -5% 455 523 460 466 561 575 524 507 490 452 432 400 373 401 152 223 220 271 2020 2021 2022 2023 3M23 3M24 2020 2021 2022 2023 3M23 3M24 2020
Slide 23: Integrated Healthcare Facilities within Township Projects
Integrated Healthcare Facilities within Township Projects (Rp bn) (Rp bn) Revenue - Inpatient Revenue - Outpatient Ciputra Hospital Ciputra Hospital Ciputra Mitra Tangerang Jakarta Hospital 600 600 500 441 -27% 500 57% 0% -27% 400 400 39% 340 323 322 1% 281 300 249 251 300 244 200 30% 200 16% 73 94
Slide 24: Growth Strategy and Project Highlights
Growth Strategy and Project Highlights
Slide 25: Key Developments
Key Developments 1 2 3 Launched one new projects and >14 new clusters in 14 3M24 presales: Rp3.3tn Recognition in Sustainability existing projects Achievement Combined presales of Rp1.5tn Total 3M24 presales reached • 6 green building certifications (44% of 3M24 achievement) Rp3.3tn (30% of 2024 tar
Slide 26: 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 27: 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 28: 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 29: 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 30: New Projects 2024
New Projects 2024 CitraLand City Sampali Kota Deli Megapolitan Prime Location Location Medan, North Sumatra 5 min. from H. Anif exit Launch January 2024 toll Development plan Phase 1: 35 ha 25 min. from Market segment Middle and middle-up Medan city Pre-sales 3M2024 Rp856billion center House price r
Slide 31: New Projects 2024
New Projects 2024 ARAH CitraLand Gresik Kota LAMONGAN Location Gresik, East Java Development plan 28 ha Market segment Middle Estimated launch 2H2024 2024 est. pre-sales Rp250billion Unit price Starting from Rp1.0billion Others Accessibility: 5.9 km to Alun-Alun Kota Gresik 8.6 km to Romokalisari ex
Slide 32: Key Projects 2024
Key Projects 2024 CitraLand Surabaya Location West Surabaya Launch 1993 Development plan 1,700 ha (sold 801 ha) Market segment Middle to middle-high Pre-sales 3M2024 Rp493billion House price range Rp1.0billion to Rp7.0billion Average unit price Rp2.8billion Units sold 196 units Others Launched new c
Slide 33: Key Projects 2024
Key Projects 2024 CitraGarden City Jakarta Location Kalideres, West Jakarta Launch 1984 Development plan 454 ha (sold 364 ha) Market segment Middle to high Pre-sales 3M2024 Rp255billion House price range Rp2.2billion to Rp11.2billion Average unit price Rp3.2billion Units sold 89 units Others Launche
Slide 34: Key Projects 2024
Key Projects 2024 CitraLand Tanjung Morawa Kota Deli Megapolitan Location Deli Serdang, North Sumatra Launch November 2022 Development plan Phase 1: 15 ha out of 50 ha Market segment Middle-low Pre-sales 3M2024 Rp237billion House price range Rp482million to Rp1.7billion Average unit price Rp4.1milli
Slide 35: Key Projects 2024
Key Projects 2024 Citra City Sentul Location Sentul, South Greater Jakarta Launch October 2023 Development plan 400 ha Market segment Middle-low to middle-high Pre-sales 3M2024 Rp204billion House price range Rp971million to Rp6.7billion Average unit price Rp2.0billion Units sold 112 units Others Acc
Slide 36: Key Projects 2024
Key Projects 2024 CitraGarden Serpong Location Tangerang, West of Jakarta Launch February 2023 Development plan 120 ha out of 350 ha masterplan Market segment Middle-low to middle-high Pre-sales 3M2024 Rp188billion House price range Rp818million to Rp4.2billion Average unit price Rp1.8billion Units
Slide 37: Key Projects 2024
Key Projects 2024 CitraRaya Tangerang Location Tangerang, West of Jakarta Launch 1994 Development plan 2,760 ha (sold 882 ha) Market segment Middle-low to middle-high Pre-sales 3M2024 Rp185billion House price range Rp354million to Rp4.2billion Average unit price Rp1.2billion Units sold 177 units Oth
Slide 38: Key Projects 2024
Key Projects 2024 CitraGarden Bintaro Location South of Jakarta Launch November 2023 Development plan 28 ha Market segment Middle-low to middle-up Pre-sales 2023 Rp140billion House price range Rp1.2billion to Rp4.0billion Average unit price Rp2.3billion Units sold 67 units Others Accessibility: 10 m
Slide 39: Key Projects 2024
Key Projects 2024 Jarak Proyek: Pelabuhan: 2.6 km; Bandara: 20.2 km Trans Studio Mal: 1.8 km; Pantai Losari: 550 m 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 3
Slide 40: Key Projects 2024
Key Projects 2024 CitraLand Gama City Medan Location Medan, North Sumatra Launch February 2013 Development plan 123 ha out of 211 ha masterplan Market segment Middle and middle-up Pre-sales 3M2024 Rp66billion House price range Rp3.2billion to Rp5.7billion Average unit price Rp4.3billion Units sold 1
Slide 41: Key Projects 2024
Key Projects 2024 CitraLand City Kedamean Location Gresik, East Java Launch August 2022 Development plan Phase 1: 12.5 ha out of 200 ha master plan Market segment Middle to middle-low Pre-sales 3M2024 Rp54billion House price range Rp578million to Rp1.5billion Average unit price Rp927million Units so
Slide 42: Financial Results
Financial Results a 7) eee
Slide 43: Results Summary (Income Statement)
Results Summary (Income Statement) (Rpbn) 3M24 3M23 % YoY Effect of +7.1% YoY in Property Development segment and +14.2% Revenue 2,316 2,131 8.7% YoY in Recurring segment COGS (1,138) (1,098) 3.7% Gross Profit 1,178 1,033 14.0% Gross Profit Margin 50.9% 48.5% Effect of product mix Operating Expense
Slide 44: Results Summary (Revenue Breakdown and Margin Performance)
Results Summary (Revenue Breakdown and Margin Performance) (Rpbn) 3M24 3M23 % YoY Revenue Breakdown Property Development Revenue 1,762 1,646 7.1% Houses, shophouses, and land lots 1,568 1,460 7.4% Office for sale 105 34 208.0% Apartments 89 152 -41.3% Recurring Revenue 554 485 14.2% Hospitals 161 12
Slide 45: Focusing on Property Development and Minimizing Concentration Risk
Focusing on Property Development and Minimizing Concentration Risk Revenue per Segment (3M24) Revenue per Location (3M24) Office Strata 4% Apartment Greater Surabaya Strata 29% Other 4% Shopping Java Malls 10% 8% Hotels 5% Sumatra Healthcare 11% 7% Houses, Others shophouses, 4% Sulawesi and land lot
Slide 46: Solid Development Revenue Complemented by Stable Recurring Assets
Solid Development Revenue Complemented by Stable Recurring Assets 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% 6.0 21% 24% 25% 5.0 17% 4.0 18% 8.0 6.6 7.2 7.1 3.0 5.7 2.0 0.6 1.0 1.8 - 2019 2020 2021 2022 2023 3M24 Development Revenue Recurring Revenue Recurr
Slide 47: Debt Profile
Debt Profile As of Mar-24 Floating Fixed Rupiah SGD 78% 22% 78% Total Borrowings: Rp8.0tn 22% Borrowing Cost* Maturity Profile (% of total debt) (Rptn) 12.0% 57% 5.0 10.3% 10.2% 10.4% 4.5 10.0% 8.4% 8.3% 8.3% 4.0 8.0% 7.4% 3.5 3.0 6.0% 2.5 2.0 4.0% 15% 1.5 12% 2.0% 8% 1.0 4% 2% 2% 0.5 1% 0.0% 0.0 20
Slide 48: Selective Land Banking and Deferring Non-committal Capex
Selective Land Banking and Deferring Non-committal Capex Historical Capex Land for Rptn Development 90% 1.3 3M24 1.1 1.1 0.7tn 0.8 Hospital 0.8 0.7 0.7 5% Others 5% 2018 2019 2020 2021 2022 2023 3M24 50
Slide 49: 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 4,568 4,559 3,792 4,121 51% 48% 51% 50% 50% 50% 49% 2,316 1,033 1,178 2,131 2019 2020 2021 2022 2023 3M23 3M24 2019 2020 2021 2022 2023 3M23 3M24 Gross Profit Gross Margin Net Profit Key R
Slide 50: Balance Sheet Summary
Balance Sheet Summary Rpbn Mar 2024 Dec 2023 Dec 2022 Dec 2021 Dec 2020 Dec 2019 Assets 45,064 44,115 41,902 40,668 39,255 36,196 Cash & cash equivalents 10,654 10,601 9,042 7,162 5,276 4,238 Land 15,952 15,296 14,495 14,538 14,471 13,523 Fixed Assets 2,854 2,835 2,569 2,504 2,595 3,089 Investment P
Slide 51: Country Overview
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Slide 52: Encouraging Macro Conditions
Encouraging Macro Conditions Real GDP Growth 4.88% 5.03% 5.07% 5.17% 5.02% 5.31% 5.04% Robust 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
Slide 53: Property Price Index
Property Price Index Source of Consumer Financing • Mortgage consistently being Indonesian customers’ preference, 16% 20% 18% 17% 18% 17% even with increased interest rate due to inflation. 7% 8% 7% 7% 7% 7% • There is an imperfect correlation between mortgage rate and benchmark rate. 77% 72% 75% 76
Slide 54: 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 55: 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 56: Appendix
Appendix
Slide 57: 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 58: 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 59: 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 60: 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 62
Slide 61: 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 63
Slide 62: 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 63: Thank you!
Thank you! PT Ciputra Development Tbk Investor Relations 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 PT Ciputra Development Tbk