Pt Lippo Cikarang Tbk · IDX:LPCK
Pt Lippo Cikarang Tbk — 9M 2020 Earnings Presentation
29 slides from Pt Lippo Cikarang Tbk's earnings presentation, November 2020
Slide 1: PT Lippo Cikarang Tbk 9M20 Results Presentation
PT Lippo Cikarang Tbk 9M20 Results Presentation November 2020
Slide 2: Contents
Contents Shareholder Structure 03 - 04 9M20 Financial Data 05 – 11 Meikarta 12 – 18 Projects Data 19 – 21 Lippo Cikarang Map and Corporate Structure 22 - 23 Appendix 24 - 29
Slide 3: Shareholder Structure
Shareholder Structure
Slide 4: Shareholder Structure
Shareholder Structure As of 30 September 2020 As of 31 December 2019 No. of No. of Change No. Description No. of Shares % No. of Shares % Investors Investors YTD (%) I. Domestic Individual 6,152 281,086,325 10.5% 6,779 244,925,625 9.1% 14.8% Foundation 1 12,500 0.0% 1 12,500 0.0% 0.0% Pension Fund 1
Slide 5: 9M20 Financial Data
9M20 Financial Data
Slide 6: Key Financial Highlights
Key Financial Highlights 9M20 9M19 Change (%) Presales (Rp billion) 928 634 46% Revenue (Rp billion) 1,592 1,060 50% Recurring Revenue (Rp billion) 286 272 5% EBITDA (Rp billion) 421 297 42% EBITDA Margin 26.5% 28.0% N.A. Net Income (Rp billion) 612 346 77% Net Debt/Equity Ratio (X) 0.01 - 0.03 N.A.
Slide 7: Summary of balance sheet and marketing sales
Summary of balance sheet and marketing sales Balance Sheet (Rp Billion) Dec 2016 Dec 2017 Dec 2018 Dec 2019 Sep 2020 Assets 5,727 11,267 9,226 12,219 14,059 Debt - 249 - 200 1,000 Liability 1,483 4,734 1,696 1,337 3,220 Equity 4,244 6,533 7,530 10,882 10,838 Return on Assets (%) 9.4% -7.3% 21.3% 2.5
Slide 8: Balance Sheet
Balance Sheet (Rp bn, consolidated) ASSETS 9M20 FY19 LIABILITIES & STOCKHOLDERS' EQUITY 9M20 FY19 Current Assets Current Liabilities Cash & Cash Equivalent 899 523 Bank Loan 564 200 Account Receivable 45 267 Accounts Payable 172 114 Available for Sale Financial Assets 146 230 Accrued Exp. & Taxes Pa
Slide 9: Highly underleveraged balance sheet
Highly underleveraged balance sheet Total Assets (Rp Bn) Total capitalization (Rp Bn) 16,000 14,000 14,000 12,000 200 1,000 12,000 312 236 5,138 10,000 10,000 2,523 4,928 578 899 8,000 249 8,000 121 2,896 223 523 1,516 75 6,000 623 6,000 1,690 10,570 10,602 1,739 4,000 8,045 4,000 7,297 6,506 6,458
Slide 10: Income statement 9M20 and 9M19
Income statement 9M20 and 9M19 (in Rp bn, unless stated otherwise) 3Q20 3Q19 YoY change % 9M20 9M19 YoY change % Total revenue 504 374 130 35% 1,592 1,060 532 50% COGS (338) (240) (97) 40% (954) (642) (313) 49% Gross Profit 166 133 32 24% 638 419 219 52% Operating Expenses (80) (53) (26) 50% (236) (
Slide 11: Income statement highlights
Income statement highlights Property marketing sales (RpBn) Revenue (RpBn) 16 - 52 1 29 340 81 - 77 268 285 368 286 327 33 61 12 857 367 121 54 135 123 387 87 71 8 54 54 935 177 620 1,129 935 825 1,124 2017 2018 2019 9M20 2017 2018 2019 9M20 Residential Commercial Industrial DS 8 Orange County Resid
Slide 12: Meikarta
Meikarta
Slide 13: Strategic region for growth – between Jakarta & Bandung
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) ELEVATE
Slide 15: Future Infrastructure Under Construction
Future Infrastructure Under Construction Kertajati Airport Elevated Toll Road Jakarta-Cikampek Operated in 2018 Operated in 2019 LRT Jakarta-East Bekasi High Speed Train Jakarta Bandung To be completed in 2021 To be completed in 2022 15
Slide 16: Meikarta: Significant progress since 2019, Over 200 handovers
Meikarta: Significant progress since 2019, Over 200 handovers Jan 2020 Sep 2020 ~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 ▪ 28 towe
Slide 17: Meikarta Construction Progress September 2020
Meikarta Construction Progress September 2020 17
Slide 18: Central Park at Meikarta
Central Park at Meikarta 18
Slide 19: Projects Data
Projects Data
Slide 20: Waterfront - Affordable Landed Residential Housing
Waterfront - Affordable Landed Residential Housing Riverside Cluster Launch date : Mar-20 Unit sold (sqm) : 227 Avg price per unit (Rp m) : 825 Sold value (Rp bn) : 187 Payment profile : Cash 10% Installment 13% Mortgage 78% Silvercreek Cluster American Style Launch date : Mar-20 Unit sold (sqm) : 1
Slide 21: Orange country has started handover of units
Orange country has started handover of units 27
Slide 22: Lippo Cikarang Map and Corporate Structure
Lippo Cikarang Map and Corporate Structure
Slide 23: Corporate Structure (Post Rights Issue)
Corporate Structure (Post Rights Issue) PT LIPPO KARAWACI TBK PT KEMUNING PT LIPPO KARAWACI Tbk Other PUBLIC BELOW SATIATAMA Subsidiaries 5% 77,84% 3,16% 19.00% As of 30 September 2020 No. of outstanding share 2.679.600.000 Code : LPCK IJ Lippo Cikarang Orange County East Jakarta Corridor ▪ Trivium
Slide 24: Appendix
Appendix LIPPO GROUP IE
Slide 25: Foreign ownership remains a challenge
Foreign ownership remains a challenge 34
Slide 26: 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 27: LPCK trading performance
LPCK trading performance 10,500 8,500 +2 s.d 6,500 +1 s.d 4,500 5- yr mean 2,500 -1 s.d 500 Jun-2015 Jun-2016 Jun-2017 Jun-2018 Jun-2019 Jun-2020 (1,500) -2 s.d Price to Book as of 30 September 2020 2.0 1.7 1.8 1.6 1.4 1.2 1.0 0.8 0.6 Peers average 0.5x 0.6 0.5 0.4 0.4 0.3 0.2 0.2 0.1 - DMAS KIJA SS
Slide 28: Board of Commissioners and Directors team focused on corporate governance
Board of Commissioners and Directors team focused on corporate governance and driving the business Board of Commissioners Drs. Theo L. Sugiono Djauhari Anand Kumar Ali Said Hadi Cahyadi Didik J. Rachbini Sambuaga Commissioner Commissioner Independent Independent Independent President Commissioner Co
Slide 29: Investor Relations
Investor Relations Tevilyan Yudhistira Rusli Chief Financial Officer : Yudhistira.Rusli@lippokarawaci.co.id : +62 21 25669055 : www.Lippo-Cikarang.com