PT Lippo Karawaci Tbk · IDX:LPKR
PT Lippo Karawaci Tbk — H1 2019 Earnings Presentation
71 slides from PT Lippo Karawaci Tbk's earnings presentation, September 2019
Slide 1: PT Lippo Karawaci Tbk 1H19 Results Presentation
PT Lippo Karawaci Tbk 1H19 Results Presentation September 2019
Slide 2: Contents
Contents Shareholder structure 03 Business Model 04 -05 Recent Developments 06 -12 1H19 Financial Data 13 - 31 Subsidiaries 32 - 48 Turnaround Initiatives 49 - 51 Meikarta 52 - 55 Corporate Structure, Board & Management 56 –58 Appendix 59 - 70
Slide 3: Shareholder Structure
Shareholder Structure As of 30 June 2019 As of 31 Dec 2018 No. of No. of Change Description No. of Shares % No. of Shares % No. Investors Investors YTD (%) I. Domestic Corporation 102 17,500,587,565 75.8% 100 17,943,046,650 77.8% -2.5% Individual 9,880 1,469,736,239 6.4% 8,503 1,163,018,443 5.0% 26.
Slide 4: One of Indonesia's largest integrated real estate developers
One of Indonesia’s largest integrated real estate developers One of the largest diversified publicly Market leader in property development, listed property company in Indonesia by total lifestyle malls, and healthcare in Indonesia assets and revenue Ongoing development of 6 projects (2) with GFA o
Slide 5: Refocused strategy: Building on our core strengths
Refocused strategy: Building on our core strengths Urban Housing Lifestyle Malls Healthcare Expand our Urban Homes product to Maintain market leadership in lifestyle Currently the leader in Indonesian cater to the rising mass affluent malls, capitalising on Indonesia’s healthcare with network
Slide 6: Updates to funding programme announced in March 2019
Updates to funding programme announced in March 2019 Announced initiatives Status ┼ US$730m to be raised from rights issuance US$788m from rights issuance completed in July 2019 Investment by anchor investors for over US$230m Strong shareholder response to rights issuance indicating renewed co
Slide 7: Recent operational highlights
Recent operational highlights New organizational structure at project level • Relocation of senior project management nearer to project sites • Allows for faster decision making, improved communication and accountability • Increased empowerment of project staff to make decision • Simplifies financ
Slide 8: Accomplishments since March announcement
Accomplishments since March 12 announcement Bond Tender Offer Completed and US$8.67 million of 2022 and 2026 bonds were tendered. Advanced subscription of US$280 million received before the end of 1Q19 The sale of the Myanmar Hospitals stake was completed in April, generating US$ 19.5 million
Slide 9: Commitment to deliver existing key projects
Commitment to deliver existing key projects Millenium Village – Ahead of targeted construction schedule Launched 2014 Target 4Q 2021 completion Total Estimated residential 452 construction US$52m units costs to completion % Sold as per Total GFA 100,716 sqm 73% December 18 June 19 30 June 2019 Embar
Slide 10: Commitment to deliver existing key projects (cont'd)
Commitment to deliver existing key projects (cont’d) Kemang Village Hotel / Office – On Schedule Target Launched 2007 1Q 2020 completion Estimated Total construction residential 95 US$8m costs to units completion % Sold as Total GFA 21,937 sqm per 30 June 0% June 19 June 19 2019 Holland Village – Ah
Slide 11: Commitment to deliver existing key projects (cont'd)
Commitment to deliver existing key projects (cont’d) Holland Village Manado – On Schedule Target Launched 2015 3Q 2019 completion Estimated Total construction residential 414 US$10m costs to units completion % Sold as Total GFA NA per 30 June 89% June 19 June 19 2019 Lippo Office Thamrin – On Schedu
Slide 12: Meikarta: Significant progress year to date
Meikarta: Significant progress year to date 3 January 2019 26 July 2019 ~500ha of total landbank for long term development over phases Phase 1 Consists of ~84 ha Significant funds already invested into key foundation infrastructure for “Phase 1 +” Phase 1A Consists of ~28 ha Ex. Tower A : 11th
Slide 13: 1H 2019 Financial Data
LIPPO 1H 2019 FINANCIAL DATA
Slide 14: Starting to see resolution in existing pipeline projects
Starting to see resolution in existing pipeline projects Completed projects with units ready to be sold 1Q19 Est. 2Q19 Est. 1Q19 2Q19 Total Total value of value of Accounts Account Percentage Project Stake Type GFA residential Unsold Unsold Rec. Rec. Sold (sqm) units Target Sales Sales (US$mn) (US$m
Slide 15: Net asset value breakdown
Net asset value breakdown Ownership (%) Land Area (ha) Assets Value (US$ mn) URBAN DEVELOPMENT: Lippo Village1A) 100 424 2,358 1A) Lippo Cikarang 81 455 1,017 1C) Tanjung Bunga 62.7 192 116 1A) San Diego Hills 100 91 185 Micro Suburbs1C) 100 20 25 SUB TOTAL 3,702 LARGE SCALE INTEGRATED DEVELOPMENT:
Slide 16: Key Financial Highlights
Key Financial Highlights 1H 2019 1H 2018 Change (%) Presales (Rp billion) 835 453 84% Revenue (Rp Billion) 5,302 5,336 -1% Recurring Revenue (Rp billion) 4,311 3,747 15% EBITDA (Rp Billion) 534 882 -39% EBITDA Margin 10% 17% -2% Net Income (Rp billion) (1,456) 486 -400% Net Debt/Equity Ratio (X) 0.3
Slide 17: Marketing sales on track with targets
Marketing sales on track with targets Marketing Sales FY 2019 Marketing Sales by Location 1H19 1H18 FY 2019 Target (Rp Realization (Rp Realization 11 Type Segment Bn) Bn) (Rp Bn) 58 Townships: Lippo Village 145 102 33 80 Lippo Cikarang 925 451 121 - Residensial 477 59 90 118 - Komersial 43 - (3) 451
Slide 18: Property marketing sales by structure
Property marketing sales by structure (in Rp bn) FY 2015 FY 2016 FY 2017 FY 2018 1H 2018 1H 2019 Budget 2019 Residential 3,039 973 423 1,336 290 385 1,302 Low Rise 1,129 573 227 1,190 219 252 762 High Rise 1,910 400 196 146 71 133 540 Commercial 127 - 63 19 6 - 93 Industrial 279 75 78 81 34 392 405
Slide 19: Partial impact of rights issue improves B/S & deleveraging
Partial impact of rights issue improves B/S & deleveraging (Rp Bn Consolidated) ASSETS 9M 2019 FY 2018 LIABILITIES & STOCKHOLDERS' EQUITY 9M 2019 FY 2018 Current Assets Current Liabilities Cash & Cash Equivalent 5,173 1,818 Bank Loan 672 1,495 Investments 4,908 4,846 Other Debt - Non Bank 131 119 Ac
Slide 20: Debt maturity profile
Debt maturity profile Debt breakdown as of 1H19 Debt maturity Profile (as of 1H19) USD million 7% Coupon rate Coupon rate 6.75% pa 7% pa 450.0 417.0 409.3 400.0 93% 350.0 300.0 USD Bonds IDR Bank Loans 250.0 6% 200.0 Coupon rate 150.0 9.625% pa 100.0 75.0 50.0 35.4 5.0 5.5 13.0 10.3 2.3 0.0 2019 202
Slide 21: Income statement impacted by one off items
Income statement impacted by one off items (in Rp million) 2Q19 2Q18 Change % 1H19 1H18 Change % Total Revenues 2,496,838 2,832,883 (336,045) -12% 5,302,343 5,336,375 (34,032) -1% COGS 1,675,269 1,508,875 166,394 11% 3,239,467 2,867,472 371,995 13% Gross Profit 821,569 1,324,008 (502,439) -38% 2,062
Slide 22: One time items impacted 1H19 performance
One time items impacted 1H19 performance (US$ m) 1H19 1H18 YoY% Comments 1H18 had one time sales Revenue 5,302 5,336 -1% impacting revenues Impacted by non-recurring gains EBITDA 534 882 -39% in 2018 and non-recurring losses in 2019 Net income (1,456) 486 N/A Included cost overruns, penalty On
Slide 23: Business is underpinned by a high quality revenue profile
Business is underpinned by a high quality revenue profile with significant visibility High proportion of revenue attributable to recurring income streams Recurring vs Development revenue , 19% 38% 29% 70% 30% 81% 62% 70% 30% 71% (US$m) 771 778 709 59 75 52 69 58 55 364 375 373 420 373 37 36 26 29 20
Slide 24: Balance sheet highlights
Balance sheet highlights Total assets Total capitalization 50,000.0 60,000.0 45,000.0 50,000.0 40,000.0 9,805.2 11,301.0 10,209.7 35,000.0 13,242.8 1,126.5 40,000.0 8,061.9 1,113.7 5,943.1 13,638.3 14,620.7 4,307.5 1,121.6 30,000.0 1,299.0 2,538.2 5,830.4 4,628.8 13,535.6 7,153.1 3,527.3 1,818.4 25,
Slide 25: Key credit metrics
Key credit metrics Net debt / EBITDA (x)(1) EBITDA / interest(x)(2) 20.7 2.1 1.7 1.1 8.1 5.6 0.5 4.2 2016A 2017A 2018A 1H2019 2016A 2017A 2018A 1H2019 Net debt / total assets(%) Net debt / total equity (%) 26% 53% 52% 24% 22% 46% 16% 29% 2016A 2017A 2018A 1H2019 2016A 2017A 2018A 1H2019 (1) 1H2019 E
Slide 26: Key Operational Metrics of Recurring Income Assets
Key Operational Metrics of Recurring Income Assets Occupancy Trend Occupancy Trend Occupancy Trend Malls Under Management Network of Hospitals Hotels Under Management 90% 70% 76% 75% 88% 88% 58% 59% 88% 88% 60% 57% 57% 74% 88% 50% 48% 50% 72% 71% 71% 86% 85% 40% 70% 68% 68% 84% 30% 68% 67% 82% 82% 6
Slide 27: Income statement highlights
Income statement highlights Property marketing sales(RpBn) Revenue(RpBn) 2,500 12,000 379 451 2,000 10,000 853 442 1,068 353 914 368 397 938 8,000 - 1,500 190 5,168 80 20 6,000 5,965 1,109 5,306 230 491 199 530 154 177 205 1,000 75 - 4,000 1,252 - 58 1,173 2,848 3,377 2,000 1,155 138 1,348 78 392 2,
Slide 28: Historical capex spending & land bank purchases
Historical capex spending & land bank purchases Capex Spending (RpBn) 10,000.0 SILO GMTD LPCK LPKR 9,000.0 1,925.1 8,000.0 7,000.0 6,000.0 1,479.9 5,000.0 7,010.8 4,000.0 3,000.0 2,401.0 2,197.4 3,699.3 1,597.7 2,000.0 1,000.0 1,095.9 1,050.8 872.6 98.4 74.9 331.5 331.5 279.1 248.4 476.6 136.0 957.9
Slide 29: Currency risk is offset by our hedging strategy
Currency risk is offset by our hedging strategy Hedging 2020 2022 11,500 14,000 17,000 2026 11,500 14,500 17,000 Coupon 2026 13,300 17,000 Hedged Unhedged Amount Lower Upper Description (USD mn) Strike Strike Maturity From time to time, the Company Bond 2020 75 N.A. N.A. N.A. enters into non-deliver
Slide 30: Rental Payment to REITS
Rental Payment to REITS 1,400 Please note these are estimates that are subject to change and are based off of 1,284 exchange rates and Sg CPI and will change over time This represents the total payment by LPKR to the REITs and is likely to change 1,200 over time 1,076 1,076 There is a portion
Slide 31: Extension of the long-stop date for completion of sale of Puri Mall
Extension of the long-stop date for completion of sale of Puri Mall 1 Puri Mall Strata process is currently pending the below: • Regulatory body approval • Governor’s approval • Administrative process to obtain the legalization of segregation deed and registration of title 2 Once Strata is issued, L
Slide 32: Subsidiaries
LIPPO SUBSIDIARIES
Slide 33: Siloam's Strategic Growth to Take Advantage of the Market Potential
Siloam’s Strategic Growth to Take Advantage of the Market Potential SH Mataram Owned Hospitals SH Bekasi Timur SH Bangka SH Palangka Belitung Raya SH SH Cirebon SH Jember RSU Kelapa Dua Balikpapan SH Lippo BIMC SH Lubuk RSU Syubbanul SH Jambi Asri Sentosa Cikarang Nusa Dua Linggau Wathon # IPO 1996
Slide 34: Siloam hospitals EBITDA 2Q19 by Segments
Siloam hospitals EBITDA 2Q19 by Segments* (IDR bn) 34 Margin: 8% Contribution: 4% Margin: -67% Margin: 38% Contribution: -20% Contribution: 17% Margin: 26% 8 44 Contribution: 66% 36 Contribution: -29% 61 211 140 EBITDA would have been even Margin: 30% higher if not for the HO expense Contribution: 6
Slide 35: Siloam Hospitals - Flagship Hospitals
Siloam Hospitals - Flagship Hospitals 35 Land/ Year Bed Operational GPs & Name Class Region Nurses Centre of Excellence Accreditation Building Opened Capacity Beds Specialists Ownership Cardiology, Ortho- SH Lippo 1. Greater pedics, B 1996 308 274 249 402 Village Jakarta Neuroscience, JCIA Emergency
Slide 36: Siloam Hospitals - Mature Hospitals
Siloam Hospitals - Mature Hospitals 36 Year Bed Operational GPs & Land/Building Name Class Region Nurses Centre of Excellence Accreditation Opened Capacity Beds Specialists Ownership SH Surabaya B 3. East Java 2002 160 160 152 237 Cardiology, Emergency SH Lippo Occupational Health, B 2. West Java 20
Slide 37: Siloam Hospitals - Mature Hospitals (Cont'd)
Siloam Hospitals - Mature Hospitals (Cont’d) 37 Year Bed Operational GPs & Land/Building Name Class Region Nurses Centre of Excellence Accreditation Opened Capacity Beds Specialists Ownership SH Samarinda C 4. Kalimantan 2016 34 10 22 16 Emergency 3rd Party RS Umum Putera C 2. West Java 2017 114 94
Slide 38: Siloam Hospitals - Distinct Hospitals
Siloam Hospitals - Distinct Hospitals 38 Date Bed Operational GPs & Land/Building Name Class Region Nurses Centre of Excellence Accreditation Opened Capacity Beds Specialists Ownership 1. Greater SH Cinere C 2012 203 33 22 44 Cardiology 3rd Party Jakarta BIMC Kuta C 3. Bali 2013 39 18 41 61 Tourists
Slide 39: Siloam Hospitals - BPJS Hospitals
Siloam Hospitals - BPJS Hospitals 39 Date Bed Operational GPs & Centre of Land/Building Name Class Place Nurses Accreditation Opened Capacity Beds Specialists Excellence Ownership 1. Greater RSUS B 2012 640 250 138 259 Emergency Jakarta SH B 2. West Java 2014 235 228 78 256 Emergency Purwakarta SH 3
Slide 40: Siloam Hospitals - New Hospitals
Siloam Hospitals - New Hospitals 40 Date Bed Operational GPs & Land/Building Name Class Region Nurses Centre of Excellence Accreditation Opened Capacity Beds Specialists Ownership SH Buton C 4. Sulawesi 2016 140 80 32 95 Emergency SH 3. East Labuan C Nusa 2016 124 90 25 71 Emergency Bajo Tenggara SH
Slide 41: Siloam Hospitals - New Hospitals (Cont'd)
Siloam Hospitals - New Hospitals (Cont’d) 41 Date Bed Operational GPs & Land/Building Name Class Region Nurses Centre of Excellence Accreditation Opened Capacity Beds Specialists Ownership RS Siloam Lubuk C 5. Sumatera 2018 175 40 35 50 Emergency Linggau SH Jember C 3. East Java 2018 323 30 31 41 Em
Slide 42: Lippo Cikarang balance sheet and marketing sales
Lippo Cikarang balance sheet and marketing sales IDR Billion Dec 2015 Dec 2016 Dec 2017 Dec 2018 Jun 2019 Assets 5,477 5,727 11,267 9,226 9,899 Debt 30 - 249 - 200 Liability 1,813 1,483 4,734 1,696 1,745 Equity 3,633 4,244 6,533 7,530 8,154 Return on Assets 16.7% 9.4% -7.3% 21.3% 8.5% Return on Equi
Slide 43: Lippo Cikarang summary income statement
Lippo Cikarang summary income statement Revenue (RpBn) EBITDA (RpBn) 2,500 1,200 1,014 985 2,210 1,000 932 2,120 2,000 800 1,803 606 600 1,545 1,501 400 1,500 209 200 - 1,000 2014 2015 2016 2017 2018 1H19 686 (200) (400) 500 (600) (800) - (768) 2014 2015 2016 2017 2018 1H19 (1,000) Marketing Sales (
Slide 44: Lippo Malls
Lippo Malls Dominant position in retail development & property management, through management of 51 malls throughout Indonesia 3.4 million sqm GFA As of June 30, 2019 : Overall average occupancy 88% and 92.2% in LMIRT properties MANAGED MALLS: PIPELINE MALLS: LIPPO MALL PURI PX PAVILLION LIPPO P
Slide 45: Lippo Malls - Manages 51 malls across Indonesia
Lippo Malls- Manages 51 malls across Indonesia Total Area NLA Occupancy ARR Blended ASC Blended Region (sqm) (sqm) (%) (Rp000/sqm/month) (Rp000/sqm/month) Jakarta 1,254,540 523,482 86% 130 67 Java (excl Jakarta) 1,231,991 431,401 88% 96 51 Sumatera 687,378 322,534 94% 116 70 Sulawesi 142,620 73,584
Slide 46: Aryaduta Hotels
Aryaduta Hotels Aryaduta Hotel Aryaduta Hotel Imperial Aryaduta Aryaduta Hotel Aryaduta Hotel Aryaduta Hotel Jakarta Pekanbaru Hotel & CC, LK Medan Manado Kuta Bali Occupancy rate 63.5% 55.4% 75.2% 77.9% 73.9% 69.2% Avg room rate (Rp '000/room/day) 551 350 596 508 401 838 Number of rooms 302 158 192
Slide 47: Lippo Malls REIT – Manages 23 retail malls and 7 retail spaces
Lippo Malls REIT – Manages 23 retail malls and 7 retail spaces (SGD millions) 2Q19 2Q18 YoY 1Q19 QoQ Gross Rental Income 38,997 41,380 -5.8% 37,427 4.2% Total Gross Revenue 68,268 52,650 29.7% 65,912 3.6% Net Property Income (NPI) 1 43,974 43,153 1.9% 40,513 8.5% Distributable Income to Unitholders
Slide 48: First REIT Manages 20 properties, including 15 hospitals in Indonesia
First REIT Manages 20 properties, including 15 hospitals in Indonesia (SGD millions) 2Q19 2Q18 YoY 1H19 1H18 YoY Rental & Other Income 29.0 28.9 0.2% 57.6 57.6 0.0% Net Property Income 28.3 28.5 -0.6% 56.4 56.9 -1.0% Distributable Income 17.1 16.9 1.2% 34.2 33.8 1.1% DPU (cents) 2.15 2.15 0.0% 4.3 4
Slide 49: Turnaround Initiatives
LIPPO TURNAROUND INITIATIVES
Slide 50: Delever, improve liquidity and generate returns
Delever, improve liquidity and generate returns Comprehensive funding programme Strategic initiatives to delever, improve liquidity and generate returns (US$m) Shore up Delever liquidity Generate returns 280 275 315 1,010 730 100 200 120 LPKR rights Asset Total funding Bond buyback Liquidity Investm
Slide 51: Commitment to deliver existing key projects
Commitment to deliver existing key projects Investment in existing key projects Sources Uses (in US$m) Refers to unsold units from completed projects Inventories are ready to be sold with no further construction costs 156 212 60 16.5 Refers to progress 100 payments to be 120.5 collected from s
Slide 52: Meikarta
LIPPO MEIKARTA
Slide 53: Meikarta: our next development initiative (cont'd)
Meikarta: our next development initiative (cont’d) Investment in LPCK / Meikarta Sources Uses (in US$m) LPCK will launch a concurrent rights issue to raise the funds required for the completion of its Meikarta project LPKR will act as standby purchaser to the US$200m rights 180 issuance of LPCK
Slide 54: 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 55: 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) ELEVATED
Slide 56: Corporate Data
LIPPO CORPORATE DATA
Slide 57: Shareholder Structure – Post rights issue
Shareholder Structure – Post rights issue LIPPO RELATED COMPANIES PUBLIC <5% 52.69% 47.31% No of Floating Stocks : 70,591,913,869 (excl. Treasury Stocks) 51.05% 81.00% 62.69% 100% PT SILOAM INTERNATIONAL PT LIPPO CIKARANG TBK PT GOWA MAKASSAR TOURISM PT BOWSPRIT ASSET HOSPITALS TBK DEVELOPMENT TBK M
Slide 58: Board of Commissioners and Directors team
Board of Commissioners and Directors team focused on corporate governance and driving the business Board of Commissioners John A Prasetio Dr. Stephen Riady George Raymond Kin Chan Anangga W. Independent President Commissioner Zage III Commissioner Roosdiono Commissioner Commissioner Independent Comm
Slide 59: Appendix
LIPPO APPENDIX
Slide 60: The Lippo Group operates across multiple industries
The Lippo Group operates across multiple industries Regional Presence in China, Hong Kong, Japan, Singapore, Korea, and Macau Indonesia Financial Retail Real Estate TMT Healthcare Services Education PT LIPPO KARAWACI TBK. 60
Slide 61: Nationwide presence across Indonesia creates network effect
Nationwide presence across Indonesia creates network effect Business segment Growth metrics Sumatra Kalimantan Sulawesi(4) Cumulative marketing sales (US$m)(1) 5 10 3 1 1 3 Property 4.3x Development 1,700 3 3 2 394 2013A 1H2019A # of malls under management Kalimantan 1.5x 51 Lifestyle Sumatra Malls
Slide 62: Residential & urban development
Residential & urban development Lippo Village in Karawaci, West of Jakarta Lippo Cikarang, East of Jakarta Existing CBD Industria Industrial Landban Meikart l k a EJIP (Sumitomo ) BIIE (Hyundai Existing ) Residenti al Existing Industrial Development Rights Land already acquired Landbank inventory De
Slide 63: Residential & urban development
Residential & urban development Tanjung Bunga, Makassar, South Sulawesi San Diego Hills Memorial Park & Funeral Home Development Rights Land already acquired Landbank inventory Master Plan Land already acquired Landbank inventory 1,500 ha 651 ha 278 ha 500 ha 125 ha 89 ha (+ 14 ha family center & la
Slide 64: Regulations becoming more conducive to growth
Regulations becoming more conducive to growth Property Type Old Regulation New Regulation I II III & above I II & above • In 2Q19 the regulators have: US$140m Landed Property > 70 sqm 85% 80% 75% - 80% Increased the transaction 22-70 sqm - 85% 80% - 85% price the for super luxury tax <= 21 sqm - -
Slide 65: Foreign ownership remains a challenge
Foreign ownership remains a challenge 65
Slide 66: Overview of Jakarta's Condominium market
Overview of Jakarta’s Condominium market Quarterly & Annual Condominium Sales 25,000 8,000 7,000 20,000 6,000 5,000 15,000 Units 4,000 Units 10,000 3,000 2,000 5,000 1,000 0 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 0 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14
Slide 67: Overview of Jakarta's shopping mall & CBD office market
Overview of Jakarta’s shopping mall & CBD office market Quarterly and Annual Shopping Mall Net Absorption 120,000 295,000 100,000 245,000 80,000 195,000 60,000 145,000 Sqm Sqm 40,000 95,000 20,000 45,000 0 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13
Slide 68: Indonesia – An Underpenetrated Healthcare Market
Indonesia – An Underpenetrated Healthcare Market 53,000 238,000 Doctors in Indonesia(1) Total number of Hospital Beds in Indonesia(1) 2.0 264,000,000 9.0 Doctors to 10,000 population in Indonesia(1) Beds to 10,000 population in Indonesia(1) The Population of Indonesia 12.5 21.0 Doctors to 10,000 pop
Slide 69: Continual growth in private insurance and government healthcare spend
Continual growth in private insurance and government healthcare spend BPJS Participation (million people) (3) Annual value of private medical insurance continue to % of BPJS coverage increase(1). 79% US$2bn 71% 65% 188 208 172 +186% US$0.72bn 2007 2020 2016 2017 2018 The number of insured people by
Slide 70: LPKR's trading performance
LPKR’s trading performance LPKR historical Price / NAV per share post global financial crisis (IDR) Period Price / NAV 2,000 average Min Average Max 2014 1.4x 1.7x 2.2x 1,500 2016 0.9x 1.3x 1.6x 2018 0.3x 0.4x 0.6x 1,000 500 0 Aug-10 Aug-11 Aug-12 Aug-13 Aug-14 Aug-15 Aug-16 Aug-17 Aug-18 Aug-19 NAV
Slide 71: Investor Relations
Investor Relations Bret Ginesky Head of Investor Relations email : bret.ginesky@lippokarawaci.co.id telp. : +62 21 25669078 website : www.lippokarawaci.co.id