Pt Surya Semesta Internusa Tbk · IDX:SSIA
Pt Surya Semesta Internusa Tbk — Q1 2022 Earnings Presentation
63 slides from Pt Surya Semesta Internusa Tbk's earnings presentation, 2022
Slide 1: Review First Quarter 2022
S 5 77 BUILDING A BETTER INDONESIA suryainternusa PT Surya Semesta Internusa Tbk (“SSIA”) Review First Quarter 2022 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”) • Sustain
Slide 3: Surya Semesta Internusa in Summary
Surya Semesta Internusa in Summary
Slide 4: Significant 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: PT Surya Semesta Internusa Tbk group structure
PT Surya Semesta Internusa Tbk Market cap: IDR 1.9tn / US$ 130mn 100% 100% 100% 50% 66.7% 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 INTERNUS
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: Sustainability Strategy and 2021 Highlights
Sustainability Strategy: 2021 Sustainability Highlights: • • : • • • • • • •
Slide 11: Revenue and EBITDA Across Business Segments
Revenue Across Business Segments (1Q21) Revenue Across Business Segments (1Q22) IDR 447bn IDR 766bn Property 17% Property 11% Construction 76% Construction 81% Hospitality 7% Hospitality 8% 0.0% 20.0% 40.0% 60.0% 80.0% 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% EBITDA Across Business Segments (1Q21) EBITDA
Slide 12: Consolidated Revenue, Gross Profit, EBITDA, Net Income
Consolidated Revenue Gross Profit (1Q21 vs 1Q22, IDR Billions) (1Q21 vs 1Q22, IDR Billions) EBITDA Net Income (1Q21 vs 1Q22, IDR Billions) (1Q21 vs 1Q22, IDR Billions)
Slide 13: Segment Revenue: Property, Construction, Hospitality
Property Segment Revenue (1Q21 vs 1Q22, IDR Billions) Construction Segment Revenue Hospitality Segment Revenue (1Q21 vs 1Q22, IDR Billions) (1Q21 vs 1Q22, IDR Billions)
Slide 14: Consolidated Revenue and Recurring Revenue
Consolidated Revenue (2017-1Q22, IDR Billions) 3,682 4,006 3,274 811 2,947 803 697 220 2,353 191 2,611 2,454 2,082 766 2,164 1,665 447 62 31 588 652 520 628 414 442 341 2017 2018 2019 2020 2021 1Q21 76 1Q22 85 Property Construction Hospitality Others Recurring Revenue(1) (2017-1Q22, IDR Billions) 1,
Slide 15: Gross Margins by Segment
Hotel Gross Margins % Property Gross Margins % 100% 60% 80% 64.7% 63.5% 52.2% 52.0% 51.0% 60% 49.8% 50% 41.6% 43.7% 40% 34.1% 44.3% 20% 14.0% 40% 0% 2018 2019 2020 2021 1Q21 1Q22 30% Construction Gross Margins(1) % 23.3% 15% 20% 11.0% 11.4% 11.5% 10.4% 10.9% 10.2% 10% 10% 5% 0% 0% 2018 2019 2020 202
Slide 16: Financial Highlights: Consolidated Profit & Loss
Financial Highlights i Consolidated Profit & Loss Revenue 8,274 3,682 4,006 2,947 2,353 447 766 Revenue Growth -14% 12% 9% -26% -20% -49% 71% Gross Profit 864 981 1,091 635 517 74 115 Gross Profit Margin 26% 27% 27% 22% 22% 17% 15% EBITDA 413 455 533 256 182 (4) 28 EBITDA Margin 13% 12% 13% 9% 8% -1
Slide 17: Consolidated Revenue by Business Segment
Financial Highlights i Consolidated Revenue by Business Segment Property 414 442 588 652 520 76 85 Segment 13% 12% 15% 22% 22% 17% 11% percentage Construction 2,164 2,454 2,611 2,082 1,665 341 628 Segment 66% 66% 65% 71% 70% 76% 81% percentage Hospitality 697 803 811 290 191 31 62 Segment 21% 22% 20
Slide 18: EBITDA definition
(7) EBITDA defined as net income, before interest expenses, tax expenses, depreciation and amortization expenses, includes JO income (loss)
Slide 19: Consolidated Net Profit by Business Segment
Financial Highlights Consolidated Net Profit by Business Segment SF suyonsrse tas Property 80 127 159 104 9 (20) (34) Segment percentage 48% 49% 58% -341% -8% 31% 76% Construction 153 123 105 59 55 9 34 Segment percentage 92% 48% 39% -194% -47% -14% -75% Hospitality (66) 8 8 (193) (180) (64) (44) Se
Slide 20: Consolidated Balance Sheet
In IDR Billions 2018 2019 2020 2021 1Q22 Current Assets 3,459 4,058 3,004 3,008 3,226 Cash & ST Investments 1,372 1,527 851 782 711 Account Receivables 1,239 1,515 1,419 1,405 1,708 Inventories 463 422 490 553 557 Other-Current Assets 385 593 245 268 250 Non-Current Assets 3,946 4,035 4,621 4,744 4,
Slide 21: Debt and Financial Ratios
In IDR Billions 2018 2019 2020 2021 1Q22 Bank/Third parties Loan IDR denominated in IDR Billions 1,507 1,194 1,305 1,245 1,482 US$ denominated in IDR Billions - 662(1) 676(1) 1,059(1) 1,066(1) Total Debt in IDR Billions 1,507 1,856 1,981 2,304 2,548 Debt to Equity Ratio 34% 41% 47% 57% 64% ROE 1.0%
Slide 22: Review of Business Segments
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Slide 23: Property
PROPERTY - PT Suryacipta Swadaya (“SCS”) - PT SLP SURYA TICON INTERNUSA(“SLP”) - PT TCP Internusa (“TCP”) - PT Sitiagung Makmur (“SAM”)
Slide 24: FDI and DDI investment and land sales
70 300 274 62 60 57 30.6 250 54 54 52 28.7 50 24.5 25.8 19.6 191 200 208 209 40 186 150 30 20 100 20 15 32.2 9.4 29.3 28.7 31.1 28.2 7.4 65 50 10 28 7.7 10.3 0 0 2017 2018 2019 2020 2021 1Q21 1Q22 DDI (US$ b) FDI (US$ b) Total FDI+DDI Land Sales (ha) Source: BKPM (Indonesia Investment Coordinating B
Slide 25: Industrial Sector Fundamentals
INDUSTRIAL SECTOR FUNDAMENTALS Source: Colliers 1Q 2022 Research
Slide 26: Industrial Sector Fundamentals
INDUSTRIAL SECTOR FUNDAMENTALS Source: Colliers 1Q 2022 Research
Slide 27: Business Model (Industrial/Property)
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 28: Property: Revenue Breakdown
Business Segment Property: Revenue Breakdown SF sumer tas Industrial Estate (SCS) Land Sales 0) Industrial Estate (SCS) Non-Land 217 220 236 263 63 73 Rental Property (TCP & Others) 71 71 59 92 TOTAL 442 588 652 520 76 85
Slide 29: 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 (2017-1Q22, IDR Billions) 652 588 59 520 71 414 442 92 55 71 593 517 371 429 76 85 358 13 9 63 75 2017 2018 2019 2020 2021 1Q21 1Q22 Industrial Estate Rental Property
Slide 30: Synergies and increased connectivity
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 31: Infrastructures & Accessibilities
suryainternusa $ tas Infrastructures & Accessibilities Patimban Seaport To Central Java A Jakarta-Surabaya High Speed Raiway ' seaeewaneas Seeee namie ewewetawenenewee: aann eee ' Elevated Toll Road : ' ku Ka Ku ku kM ko Ku ‘eat 13,16 21 24 3a 34 aT a 2 Bekasi Tambun —CibitungCikarang = Cibatu—Cikar
Slide 32: Suryacipta City of Industry: 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 AUTOM OTIV E BUILDING SUPPLIES Toll Road Toll To Karawang Gate East Karawang Interchange Phase II Toll To Cikopo Gate To Karawa
Slide 33: 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, WA Construction, 2.4% - 0.1% Data Centre, _ 24% Machiner
Slide 34: Government support for industrialization
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 35: Edenhaus Simatupang
Business Segment Property: Edenhaus Simatupang (By TCP INTERNUSA) Y 41 boutique houses (~Rp300 billion) v¥ 21 Units (Rp165 billion) marketing sales per 30 Mar 2022 > 8 units (Rp53 billion) booked as 2021 Revenue v¥ Remaining 20 units to be sold in 9M22 3 ¢ 3 building a better indonesia
Slide 36: TCP Internusa revenue and Glodok Plaza occupancy
Occupancy Rate (%) – Glodok Plaza Revenue (in IDR billions) – TCP INTERNUSA 90% 80 74 79.9% 80.9% 79.0% 79.0% 80% 75.9% 70 74.3% 70% 60 56 55 60% 50 44 50% 40 40% 30 30% 20 20% 9 10% 10 5 0% 0 2018 2019 2020 2021 1Q21 1Q22 2018 2019 2020 2021 1Q21 1Q22
Slide 37: PT SLP Surya Ticon Internusa
• PT Surya Semesta Internusa Tbk (Indonesia) – 50% stake 120% • MITSUI & CO., Ltd (Japan) - 25% stake 98% • Frasers Property Plc. (formerly Ticon Industrial Connection 100% 96% 93% PT SLP Plc.) (Thailand) – 25% stake SURYA TICON 80% 76% INTERNUSA 67% (“SLP”) • Jointly acquiring 22ha total land area
Slide 38: Property: Operating Result
Financial Highlights i Property : Operating Result {in IDR Billions) Po Revenue 414 442 588 652 520 16 85 Revenue Growth -37% 7% 33% 11% -20% -12% 11% Gross Profit 202 225 307 3839 259 34 20 Gross Margin 49% 51% 52% 52% 50% 44% 23% EBITDA 139 175 244 281 202 23 8 EBITDA Margin 34% 40% 42% 43% 39% 31
Slide 39: 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 40: Subang Smartpolitan
SUBANG SMARTPOLITAN LIVE, WORK, LEARN & PLAY
Slide 41: 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 42: 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 43: 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 44: 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 45: Construction
5 suryainternusa Yan) BUILDING A BETTER INDONESIA CONSTRUCTION - PT Nusa Raya Cipta Tbk (“NRCA”)
Slide 46: Business Model (Construction)
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 47: Market share, profitability and customer profile
Top Five Largest Market Share Profitability Amongst Private Companies (2017-2021, Revenue, IDR Trillions) Profit Margin (%) – 1Q22 5.0 4.0 1.75 3.0 1.67 2.0 1.31 1.0 1.49 0.61 0.0 2017 2018 2019 2020 2021 Nusa Raya Cipta Jaya Konstruksi Total Bangun Persada ACSET TOPS Source: IDX Note: Jaya Konstruk
Slide 48: New Contract Classification
New Contract Classification (in IDR billions) (in IDR Billions) 2019 2020 2021 1Q21 1Q22 2,028 1,095 2,679 352 1,015 Contract on hand 1% - beginning 4,443 3,478 2,321 2,321 3,202 8% 16% 13% 9% 17% 6% 12% Contract 19% obtained 2,028 1,095 2,679 352 1,015 39% Less: Revenue progress - before eliminatio
Slide 49: NRCA Operating Result
Note: NRCA perating Result doesn’t include intercompany eliminations - ROE are annualized
Slide 50: NRCA Balance Sheet
In IDR Billions 2017 2018 2019 2020 2021 1Q22 Assets Cash & Cash Equivalents 657 736 689 578 496 525 Account Receivable 1,085 1,198 1,468 1,381 1,400 1,672 Project Advance 31 38 34 22 33 12 Others 569 283 272 241 214 217 Total Assets 2,342 2,255 2,463 2,221 2,143 2,427 Liabilities Bank Debt - 9 109
Slide 51: Excellent Work Quality Across Sectors
Excellent Work Quality Across Sectors
Slide 52: Hospitality
s 5 Yan) BUILDING A BETTER INDONESIA suryainternusa Hospitality - PT Suryalaya Anindita International (“SAI”) - PT Ungasan Semesta Resort (“USR”) - PT Surya Internusa Hotels (“SIH”)
Slide 53: Hotel market (Colliers, STR Global)
Source: Colliers 1Q 2022 Research & STR Global
Slide 54: Hotel market (Colliers, STR Global)
Source: Colliers 1Q 2022 Research & STR Global
Slide 55: Hospitality revenue, occupancy and RevPAR
Revenue Eight BATIQA Hotels(1) Occupancy Rate (2017-1Q22, IDR Billions) (2018-1Q22, %) 90% 80% 55.4% 70% 60% 50% 40.2% 40% 803 811 20.5% 30% 97 20% 80 4.8% 697 10% 0% 66 2018 2019 2020 2021 1Q21 1Q22 144 144 Gran Melia Melia Bali Jumana Bali BATIQA 151 Room RevPar (3) (2019-1Q22, thousand Rp) 397 41
Slide 56: Hotel notes
Note: GMJ : Gran Melia Jakarta; MBH : Melia Bali Hotel; JBUR : Jumana Bali Ungasan Resort 2021, 1Q22 BATIQA includes Jayapura
Slide 57: Hospitality: Operating Result
Business Segment OM rye Hospitality : Operating Result om Revenue 697 803 811 220 191 31 62 Revenue Growth 3% 15% 1% -738% -138% -79% 102% Gross Profit 442 519 515 75 79 4 27 Gross Margin 63% 65% 64% 34% 42% 14.0% 43.7% EBITDA 148 186 177 (113) (79) (34) (17) EBITDA Margin 21% 23% 22% -61% -41% -111
Slide 58: Photos of Gran Melia Jakarta
Photos of Gran Melia Jakarta Café Gran Via Red Level Reception Guest Room Reception
Slide 59: Photos of Melia Bali Hotel
Photos of Melia Bali Hotel Villa Main Pool Lobby Hotel The Level Family Suite Room Swimming Pool
Slide 60: 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 61: Photos of BATIQA Hotels
Photos of BATIQA Hotels Suite Room FRESQA Bistro Exterior view of BATIQA Hotel Cirebon Lobby Meeting Room
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
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PT Surya Semesta Internusa — Q1 2022 Earnings Presentation on 6ix