Pt Surya Semesta Internusa Tbk · IDX:SSIA
Pt Surya Semesta Internusa Tbk — FY2021 Earnings Presentation
63 slides from Pt Surya Semesta Internusa Tbk's earnings presentation, 2022
Slide 1: Review Full Year 2021
5 5 Waa BUILDING A BETTER INDONESIA suryainternusa PT Surya Semesta Internusa Tbk (“SSIA”) Review Full Year 2021 www. suryainternusa. com
Slide 2: Table of Contents
Table of Contents Surya Semesta Internusa in Summary Review of Business Segments • Milestone • Major Subsidiaries, PROPERTY Shareholders & Management • PT Suryacipta Swadaya (“SCS”) • Investment Portfolio • PT SLP SURYA TICON INTERNUSA (“SLP”) • Strategic Roadmap • PT TCP Internusa (“TCP”) • Indones
Slide 3: Surya Semesta Internusa in Summary
Surya Semesta Internusa in Summary
Slide 4: Milestones and growth since IPO
PT Surya Semesta Internusa Tbk • Operating track record in property sector can be traced back to 50 years in 2017 early 1970s Divestmet • Significant growth since IPO 2014 Cikopo Palimanan – Raised over IDR 545 billion equity(1) • Acquired location Toll road at 3X BV – Raised over IDR 1,600 billion
Slide 5: Company overview and shareholding structure
Shareholding Structure 8.9% • Established and commenced operations in 1971, SSIA’s primary businesses 7.9% PT Arman Investments Utama are in construction, property and hospitality sectors PT Persada Capital Investama 7.7% Intrepid Investments Limited • One of the Leading Listed Developers in Indones
Slide 6: Board of Commissioners and Board of Directors
Board of Commissioners >40 Years >50 Years >50 Years >45 Years >20 Years Experience Experience Experience Experience Experience Hagianto Kumala Emil Salim Royanto Rizal Steen Dahl Poulsen Crescento Hermawan President Commissioner Vice President Commissioner Commissioner Commissioner Commissioner Pri
Slide 7: Investment portfolio and group structure
PT Surya Semesta Internusa Tbk Market cap: IDR 2.3tn / US$ 160mn 100% 100% 100% 50% 100.0% 66.0% 100% 86.8% 100% PT Nusa PT SLP Raya Cipta PT Ungasan PT Suryalaya PT Surya PT Suryacipta PT Sitiagung PT Surya PT TCP SURYA TICON Tbk Semesta Anindita Internusa Swadaya Makmur Internusa Internusa INTERNU
Slide 8: Presence in Fifteen Indonesian Cities
Presence in Fifteen Indonesian Cities Medan Pekanbaru Subang Karawang • Regional office for Nusa Raya • Acquired location permit of • Suryacipta City of Industry (1,400ha) Cipta (“NRCA”) • BATIQA Hotel (Business Hotel, 2,717ha 3-star, 133 rooms) - Grand • BATIQA Hotel & Apartments Karawang (Business
Slide 9: Vision and strategic roadmap
Vision: To be the most a reliable, trusted and respected Indonesia property, construction and hospitality group of companies Continued focus on the construction and development of 1 Indonesian properties Prudent land banking strategy to deliver sustainable and 2 superior profit margins 3 Continued p
Slide 10: Revenue and EBITDA across business segments
Revenue Across Business Segments (FY20) Revenue Across Business Segments (FY21) IDR 2,947bn IDR 2,353bn Property 22% Property 22% Construction 71% Construction 70% Hospitality 7% Hospitality 8% 0.0% 20.0% 40.0% 60.0% 80.0% 0.0% 20.0% 40.0% 60.0% 80.0% EBITDA Across Business Segments (FY20) EBITDA Ac
Slide 11: Consolidated Revenue, Gross Profit, EBITDA, Net Income
Consolidated Revenue Gross Profit (FY20 vs FY21, IDR Billions) (FY20 vs FY21, IDR Billions) 2,947 2,353 FY20 FY21 EBITDA Net Income (FY20 vs FY21, IDR Billions) (FY20 vs FY21, IDR Billions)
Slide 12: Segment Revenue FY20 vs FY21
Property Segment Revenue (FY20 vs FY21, IDR Billions) Construction Segment Revenue Hospitality Segment Revenue (FY20 vs FY21, IDR Billions) (FY20 vs FY21, IDR Billions)
Slide 13: Consolidated and Recurring Revenue
Consolidated Revenue (2017-2021, IDR Billions) 3,682 4,006 3,274 811 2,947 2,947 803 697 220 2,353 220 2,353 191 191 2,611 2,454 2,082 2,082 2,164 1,665 1,665 414 442 588 652 520 652 520 2017 2018 2019 2020 2021 FY20 FY21 Property Construction Hospitality Others Recurring Revenue(1) (2017-2021, IDR
Slide 14: Gross Margins by Segment
Hotel Gross Margins % Property Gross Margins % 100% 60% 80% 63.4% 64.7% 63.5% 52.2% 52.0% 51.0% 60% 49.8% 50% 48.8% 41.6% 40% 34.1% 20% 40% 0% 2017 2018 2019 2020 2021 30% Construction Gross Margins(1) % 15% 20% 11.0% 11.4% 9.9% 10.2% 10.4% 10% 10% 5% 0% 0% 2017 2018 2019 2020 2021 2017 2018 2019 20
Slide 15: Financial Highlights: Consolidated Profit & Loss
ial suryainternusa Financial Highlights wa Consolidated Profit & Loss Revenue 3,274 3,682 4,006 2,947 2,353 Revenue Growth -14% 12% 9% -26% -20% Gross Profit 864 981 1,091 635 517 Gross Profit Margin 26% 27% 27% 22% 22% EBITDA 413 455 533 256 182 EBITDA Margin 13% 12% 13% 9% 8% Operating Profit 2,02
Slide 16: Consolidated Revenue by Business Segment
Financial Highlights Ne Consolidated Revenue by Business Segment Property 414 442 588 652 520 Segment percentage 13% 12% 15% 22% 22% Construction 2,164 2,454 2,611 2,082 1,665 Segment percentage 66% 66% 65% 71% 70% Hospitality 697 803 811 220 191 Segment percentage 21% 22% 20% 7% 8% Others 17 10 1 1
Slide 17: EBITDA definition
(7) EBITDA defined as net income, before interest expenses, tax expenses, depreciation and amortization expenses, includes JO income (loss)
Slide 18: Consolidated Net Profit by Business Segment
Financial Highlights Ne Consolidated Net Profit by Business Segment Property 80 127 159 104 9 Segment percentage 48% 49% 58% -341% -8% Construction 153 123 105 59 55 Segment percentage 92% 48% 39% -194% -47% Hospitality (66) 8 8 (198) (180) Segment percentage 39% 3% 3% 635% 155% Others 1,077 (146) (
Slide 19: Consolidated Balance Sheet
In IDR Billions 2017 2018 2019 2020 2021 Current Assets 5,085 3,459 4,058 3,004 3,008 Cash & ST Investments 1,145 1,372 1,527 851 782 Account Receivables 1,129 1,239 1,515 1,419 1,405 Inventories 415 463 422 490 553 Other-Current Assets 2,396 385 593 245 268 Non-Current Assets 3,766 3,946 4,035 4,62
Slide 20: Debt and Financial Ratios
In IDR Billions 2017 2018 2019 2020 2021 Bank/Third parties Loan IDR denominated in IDR Billions 2,271 1,507 1,194 1,305 1,245 US$ denominated in IDR Billions - - 662(1) 676(1) 1,059(1) Total Debt in IDR Billions 2,271 1,507 1,856 1,981 2,304 Debt to Equity Ratio 51% 34% 41% 47% 57% ROE 29.4% 1.0% 2
Slide 21: Review of Business Segments
s > Vaan) BUILDING A BETTER INDONESIA suryainternusa Review of Business Se
Slide 22: Property
PROPERTY - PT Suryacipta Swadaya (“SCS”) - PT SLP SURYA TICON INTERNUSA(“SLP”) - PT TCP Internusa (“TCP”) - PT Sitiagung Makmur (“SAM”)
Slide 23: Foreign and domestic investment and land sales
70 300 274 62 60 57 30.6 250 54 54 208 52 28.7 25.8 209 50 24.5 45 19.6 186 200 16.1 40 191 175 150 30 100 20 32.2 31.1 28.9 29.3 28.2 28.7 50 10 0 0 2016 2017 2018 2019 2020 2021 DDI (US$ b) FDI (US$ b) Total FDI+DDI Land Sales (ha) Source: BKPM (Indonesia Investment Coordinating Board), Colliers
Slide 24: Industrial Sector Fundamentals
INDUSTRIAL SECTOR FUNDAMENTALS Source: Colliers 4Q 2021 Research
Slide 25: Industrial Sector Fundamentals
INDUSTRIAL SECTOR FUNDAMENTALS Source: Colliers 4Q 2021 Research
Slide 26: Property business model
Master Plan Basic Infrastructure & Marketing Sales Sites Preparation & Finishing Land Create Build basic infrastructure Completion and acquisition masterplan Preparation of site Handover (Industrial/Property) Business Model Execute Interested Marketing Purchase customer Preparation of projects proce
Slide 27: Property: Revenue Breakdown
suryainternuse ial Business Segment was Property: Revenue Breakdown Industrial Estate (SCS) 176 154 297 357 166 Land Sales Industrial sae we) 182 217 220 236 263 Rental eee Others) 55 71 71 59 92 TOTAL 414 442 588 652 520
Slide 28: Suryacipta ASP and Property Segment Revenue
Suryacipta City of Industry ASP (US$ / sqm) 200 120 120 121 129 126 100 0 2017 2018 2019 2020 2021 Property Business Segment Revenue (2016-2021, IDR Billions) 652 652 588 59 520 59 520 71 414 442 92 92 55 71 593 593 517 429 429 358 371 2017 2018 2019 2020 2021 2020 2021 Industrial Estate Rental Prop
Slide 29: Realizing synergies with existing projects
Increased connectivity between Subang Smartpolitan strategically located at Realizing synergies with existing West part of Java Island (Banten, projects of the company West Java and Jakarta) connected with toll roads (December 2020)
Slide 30: Infrastructures & Accessibilities
suryainternusa > tas Infrastructures & Accessibilities Patimban Seaport To Central Java A Jakarta-Surabaya High Speed Raiway ' seaeewaneas a Seeee namie ewewetawenenewee: aann eww ae ' Elevated Toll Road : ' ku Ka Ku ku kM ko Ku ‘eat 13,16 21 24 3a 34 aT a 2 Bekasi Tambun —Cibitung-Cikarang = Cibatu
Slide 31: Suryacipta tenant mix and land bank
Industrial Area Commercial Area Utility To Jakarta Well-Diversified Current Tenant Mix West Karawang Community Facilities Sold Area Interchange Jakarta – Cikampek Toll Gate AUTOMOTIVE BUILDING SUPPLIES Toll Road Toll To Karawang Gate East Karawang Interchange Phase II Toll To Cikopo Gate To Karawang
Slide 32: High Quality Projects in Suryacipta City of Industry
High Quality Projects in Suryacipta City of Industry Well-Diversified Current Tenant Mix Tenant Landbank by Sector Logistics/Warehousing, 1.0% Home Appliance, 1.0% Textiles, 1.0% Chemical, 0.4% Electronics, 1.6% | \ _ Others, 0.1% Pharmaceutical, Construction, 2.4% \ 0.1% Data Centre, _ 2.4% Machine
Slide 33: Government support for industrialization leads to higher FDI
Government support for industrialization leads to higher FDI inflow and expansion of domestic manufacturers as they have fully utilized their capacity, spurs demand for land in industrial estate
Slide 34: Edenhaus Simatupang
Business Segment Property: Edenhaus Simatupang (By TCP INTERNUSA) -4 ¢ 3 v 41 boutique houses (~Rp300 billion) ¥ 20 Units (Rp155 billion) pre-marketing sales per 31 Dec 2021 > 8 units (Rp53 billion) booked as 2021 Revenue v Remaining 21 units to be sold in FY22 builaing a better indonesia 33
Slide 35: TCP Internusa revenue and Glodok Plaza occupancy
Occupancy Rate (%) – Glodok Plaza Revenue (in IDR billions) – TCP INTERNUSA 90% 80 85.0% 74 79.0% 79.0% 80% 75.9% 70 74.3% 70% 60 56 55 53 60% 50 44 50% 40 40% 30 30% 20 20% 10% 10 0% 0 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021
Slide 36: PT SLP Surya Ticon Internusa
• PT Surya Semesta Internusa Tbk (Indonesia) – 50% stake 120% • MITSUI & CO., Ltd (Japan) - 25% stake • Frasers Property Plc. (formerly Ticon Industrial Connection 100% 97.6% 96.3% 92.2% 92.6% PT SLP Plc.) (Thailand) – 25% stake SURYA TICON 80% INTERNUSA (“SLP”) • Jointly acquiring 22ha total land a
Slide 37: Property: Operating Result
suryainternuse rs Financial Highlights Property : Operating Result {in IDR Billions) | soir outa ap ammo sans | Revenue 414 442 588 652 520 Revenue Growth -37% 7% 33% 11% -20% Gross Profit 202 225 307 339 259 Gross Margin 49% 51% 52% 52% 50% EBITDA 139 175 244 281 202 EBITDA Margin 34% 40% 42% 43% 8
Slide 38: Suryacipta City of Industry photos
Suryacipta City of Industry Entrance Commercial Area Developement Suryacipta City of Industry Factory Toll Exit Leading to Suryacipta City of Industry
Slide 39: Subang Smartpolitan: Live, Work, Learn & Play
SUBANG SMARTPOLITAN LIVE, WORK, LEARN & PLAY
Slide 40: Rebana Metropolitan – West Java Corridor Expansion
Patimban Seaport Rebana Metropolitan – West Java Corridor Expansion 1. West Subang Rebana Metropolitan, a combined area 2. East Subang 3. Indramayu of 6 regencies and 1 city that is planned 4. Butom 5. Kertajati to become the future of West Java, 6. Jatiwangi 7. Cirebon 8. Krangkeng which includes S
Slide 41: Subang Smartpolitan Location
Subang Smartpolitan Location ➢ Strategic Location Suryacipta City of Industry ▪ The future of industrial corridor; Subang Smartpolitan ▪ Within the Rebana Metropilitan; anten a arta ▪ Direct toll access (via Trans-Java toll e asi road network); arawang A A SEA ▪ Direct Access to Patimban Seaport; ep
Slide 42: Masterplan
MASTERPLAN ▪ Subang Smartpolitan is directly accessible via Cikopo- Palimanan (Cipali) Toll Road at Cipali Interchange at Patimban Toll Road Km89. (direct access to Patimban Seaport) ▪ From Kalijati Exit (Km98), Subang Smartpolitan is approximately 13Km (25mins). Direct Access from Cipali-Patimban T
Slide 43: Subang Smartpolitan Overview
Subang Smartpolitan Overview Subang Smartpolitan, the pioneer of Phase 1 smart and sustainable city development, - Development : Q4 2020 - Handover : Q1 2023 leverages technology and IOT to promote - Operation : Q1 2024 efficiency and security. Toll Road to Patimban Total area of 2,717Ha, Subang - D
Slide 44: Construction
s suryainternusa Vaan) BUILDING A BETTER INDONESIA CONSTRUCTION - PT Nusa Raya Cipta Tbk (“NRCA”)
Slide 45: Construction business model
Appointment Delivery and Process Payment Process between Working Parties Handover Tender Invitation Final Delivery Retention And Period Payment of Retention Business Model (Construction) Tender Submission Negotiation Advance Payment Monthly Down Down Payment to (Bank Progress First Payment Payment S
Slide 46: Market share, profitability and customer profile
Top Three Largest Market Share Profitability Amongst Private Companies (2017-2021, Revenue, IDR Trillions) Profit Margin (%) – 2021 5.0 4.0 1.75 3.0 1.67 2.0 1.0 1.49 - 0.0 - 2017 2018 2019 2020 2021 Nusa Raya Cipta Jaya Konstruksi Total Bangun Persada ACSET TOPS Source: IDX Note: Jaya Konstruksi re
Slide 47: New Contract Classification
(in IDR Billions) 2017 2018 2019 2020 2021 New Contract Classification (in IDR billions) Contract on hand 2,841 2,693 2,028 1,095 2,679 1% - beginning 3,527 4,204 4,443 3,478 2,321 8% 6% 0% 3% 0% 16% Contract 17% 12% obtained 2,841 2,693 2,028 1,095 2,679 13% 39% Less: Revenue 39% 3% progress - befo
Slide 48: NRCA Operating Result
Note: NRCA perating Result doesn’t include intercompany eliminations - ROE are annualized
Slide 49: NRCA balance sheet
In IDR Billions 2017 2018 2019 2020 2021 Assets Cash & Cash Equivalents 657 736 689 578 496 Account Receivable 1,085 1,198 1,468 1,381 1,400 Project Advance 31 38 34 22 33 Others 569 283 272 241 214 Total Assets 2,342 2,255 2,463 2,221 2,143 Liabilities Bank Debt - 9 109 196 22 Account Payable 467 4
Slide 50: Excellent Work Quality Across Sectors
Excellent Work Quality Across Sectors
Slide 51: Hospitality
s 5 Vaan) BUILDING A BETTER INDONESIA suryainternusa Hospitality - PT Suryalaya Anindita International (“SAI”) - PT Ungasan Semesta Resort (“USR”) - PT Surya Internusa Hotels (“SIH”)
Slide 52: Hotel market data (Colliers, STR Global)
Source: Colliers 4Q 2021 Research & STR Global
Slide 53: Hotel market data (Colliers, STR Global)
Source: Colliers 4Q 2021 Research & STR Global
Slide 54: Hospitality revenue, occupancy and RevPAR
Revenue Occupancy Rate (2017-2021, IDR Billions) (2017-2021, %) Eight BATIQA Hotels(1) 90% 80% 50.6% 70% 60% 29.5% 50% 40% 803 811 30% 12.5% 20% 80 97 10% 7.2% 697 0% 2017 2018 2019 2020 2021 66 144 144 Gran Melia Melia Bali Jumana Bali BATIQA 151 Room RevPar (3) (2017-2021, US$) 397 419 281 257 254
Slide 55: ARR and RevPAR by hotel
ARR ($) 2017 2018 2019 2020 2021 GMJ 103 94 88 72 56 MBH 101 113 118 101 47 JBUR 466 468 440 393 327 BATIQA (Rp) 300,366 332,953 314,449 302,845 321,569 Room RevPAR ($) 2017 2018 2019 2020 2021 GMJ 46 48 40 11 17 MBH 77 87 93 18 6 JBUR 281 257 254 59 24 BATIQA (Rp) 184,244 210,254 200,519 118,571 16
Slide 56: Hospitality: Operating Result
Business Segment Hospitality : Operating Result Revenue 697 803 811 220 191 Revenue Growth 3% 15% 1% -73% -13% Gross Profit 442 519 515 75 79 Gross Margin 63% 65% 64% 84% 42% EBITDA 148 186 177 (118) (79) EBITDA Margin 21% 23% 22% -51% -41% Operating Profit 37 73 62 (200) (175) Operating Profit Marg
Slide 57: Photos of Gran Melia Jakarta
Photos of Gran Melia Jakarta Café Gran Via Red Level Reception Guest Room Reception
Slide 58: Photos of Melia Bali Hotel
Photos of Melia Bali Hotel Villa Main Pool Lobby Hotel The Level Family Suite Room Swimming Pool
Slide 59: Photos of Jumana Bali
Photos of JUMANA BALI (Formerly Banyan Tree Ungasan Resort) Sanctuary Villa Cliff Edge Villa Ju-Ma-Na terrace The White Dove Wedding Venue Sanctuary Villa Cliff Edge (jetpool) Swimming Pool – Sanctuary Villa
Slide 60: Photos of BATIQA Hotels
Photos of BATIQA Hotels Suite Room FRESQA Bistro Exterior view of BATIQA Hotel Cirebon Lobby Meeting Room
Slide 61: Industrial, hotel and toll road partners
Industrial Partner Industrial Partner Industrial Partner Hotel Partner Hotel Partner Trans-Java Toll Road network Trans-Java Toll Road network Country Japan Japan Thailand Spain Singapore Indonesia Malaysia Business • ne of apan’s major • One of the most • Develops and provides • ne of Spain’s leadi
Slide 62: Disclaimer
These materials have been prepared by PT Surya Semesta Internusa Tbk (the “Company”, “SSIA”) These materials are for information purposes only and do not constitute or form part of an and have not been independently verified. No representation or warranty, expressed or implied, offer, solicitation o
Slide 63: Building a Better Indonesia
suryainternusa ATS BUILDING A BETTER INDONESIA
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