Pt Ciputra Development Tbk · IDX:CTRA
Pt Ciputra Development Tbk — H1 2025 Earnings Presentation
65 slides from Pt Ciputra Development Tbk's earnings presentation, September 2025
Slide 1: Results Presentation 6M25
Results Presentation 6M25 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 – Resilient Performance Driven by Strategic Execution
Key Highlights – Resilient Performance Driven by Strategic Execution Achieves Rp5.7 trillion marketing sales Successful launches in 6M25 with a total contribution (52% of FY25 target) of Rp2.0 trillion marketing sales from 1,117 units Marketing Sales (Rpbn) New Launches Marketing Sales Units Sold +8
Slide 5: Key Highlights – Stable Performance of Investment Properties
Key Highlights – Stable Performance of Investment Properties Improving operations in all shopping malls Moderating RevPAR in several hotel assets Mall Revenue (Rpbn) ARR (Rp’000) Revenue Rp370bn +3% (-3% YoY) 722 ARR Rp722,000 382 -3% 370 700 (+3% YoY) 6M24 6M25 6M24 6M25 Occupancy • 92% Occupancy f
Slide 6: Key Highlights - Organic Expansion of Investment Properties
Key Highlights - Organic Expansion of Investment Properties Hospital Operational Beds Malls Net Leasable Area (‘000 sqm) Beds CAGR NLA CAGR +10% 736 686 +8% 50 364 616 70 516 546 70 100 486 30 264 416 30 70 2023 2024 2025F 2026F 2027F 2028F 2029F 2025 2029F • Stable pipeline of healthcare assets by
Slide 7: Key Highlights - Asset Valuation Highlights Growth Potential
Key Highlights - Asset Valuation Highlights Growth Potential Fair Value Direct Ownership Rp53.2tn Property Development Joint-Operation Rp68.3tn Adjusted Fair Value Rp80.7tn Rp15.1tn = Number of Shares 18,535,695,255 Investment = Rp4,355 / share Property Rp17.7tn • Fair Value Basis: CTRA’s fair value
Slide 8: Key Highlights - Affordable Mortgage Environment
Key Highlights - Affordable Mortgage Environment BI Rate vs. Mortgage Rate¹ Indonesian House Financing (3M25) 12.0% 11.4% 11.0% 10.3% 10.0% 9.0% 8.0% 7.50% 6.85%2 7.0% 6.00% Instalment 6.0% 5.75% Mortgage 19% 5.0% 5.25%³ 4.25% 71% 4.0% 3.50% Cash 3.0% 10% 2.0% 1.0% 0.0% Mortgage Rate¹ Benchmark Rate
Slide 9: Key Highlights - Supportive Government Regulation (VAT Exemption)
Key Highlights - Supportive Government Regulation (VAT Exemption) The government provides VAT exemption for houses, shophouses, and apartments up to a maximum price of Rp5.0bn per unit, exempting the VAT on the first Rp2.0bn of the unit’s value. VAT Exemption Period 100% Jan – Dec 2025* * Effective
Slide 10: Company Overview
Company Overview 14
Slide 11: Ciputra at a Glance
Ciputra at a Glance Footprints Financial Highlights Number of Green Building Directly Owned Total Assets (6M25) EBITDA (6M25) Projects Certifications Land Bank Rp47.2tn Rp1.9tn >89 7 2,009 Ha Revenue (6M25) ROAE (6M25) Employees 57% JO Development Rp5.9tn 11.4% 4,935 Plan Net Profit (6M25) Net Profi
Slide 12: One of Indonesia’s Leading Property Developers
One of Indonesia’s Leading Property Developers Property Development Commercial Property Development & Management Malls - 5 projects Townships & Residential - 69 projects Hotels - 9 projects Condominiums - 11 projects Healthcare - 4 projects Offices for Sale - 8 projects Offices for Lease - 4 project
Slide 13: Geographically Diversified Project Portfolio
Geographically Diversified Project Portfolio Kalimantan Over 89 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 14: Greater Jakarta Project Portfolio
Greater Jakarta Project Portfolio 18
Slide 15: Resilient Performance and Geographically Diversified Marketing Sales
Resilient Performance and Geographically Diversified Marketing Sales Historical Presales Presales per Location (Rpbn) 2024 6M25 11,017 11,000 10,241 Greater Surabaya Greater 23% Surabaya Other Java 23% 8,243 8% Greater -6% Jakarta Other Java 6,675 6,540 Greater 50% Sumatra 8% Jakarta 6,954 6,080 40%
Slide 16: Expanding Middle-Upper Segment Financing with Mortgage
Expanding Middle-Upper Segment Financing with Mortgage Presales per Payment Method Presales per Unit Price 6% 11% 15% 13% 16% 20% 21% 19% 19% 25% 11% 9% 35% 18% 15% 18% 40% 43% 41% 45% 34% 70% 72% 62% 63% 25% 32% 31% 58% 28% 25% 19% 15% 15% 11% 2021 2022 2023 2024 6M25 2021 2022 2023 2024 6M25 Mortg
Slide 17: Sufficient Land Bank to Sustain >15 Years of Development
Sufficient Land Bank to Sustain >15 Years of Development Ownership Gross Land Bank 6M2025 Average Project Name Scheme 2024 (Ha) Unit Price (Rpbn) CitraRaya Tangerang 100% 713 0.8 CitraIndah City Jonggol 100% 137 0.5 CitraGarden City Jakarta 100% 28 4.0 CitraLand Cibubur JV - 60% 78 1.2 Total Greater
Slide 18: Rights to Additional Land Bank Through Joint-Operation Schemes
Rights to Additional Land Bank Through Joint-Operation Schemes Gross Landbank 6M2025 Average Gross Landbank 6M2025 Average Joint Operation Project Joint Operation Project 2024 (Ha) Unit Price (Rpbn) 2024 (Ha) Unit Price (Rpbn) Citra Sentul Raya 6 1.6 CitraGrand Senyiur City Samarinda 115 0.8 CitraLa
Slide 19: 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 85% 337 100% The Orchard 31,000 94% 70 100% Ciputra World Jakarta 2 100% The Residence 14,000 96%
Slide 20: 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% 21,700 94% 70 100% Ciputra World Jakarta 2 Tokopedia Tower 100% 28,000 84% 208 100
Slide 21: 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 22: Healthy Occupancy and Lease Expiry Profile for Malls
Healthy Occupancy and Lease Expiry Profile for Malls Net Leasable Occupancy Rate Mall Area (sqm) 2021 2022 2023 2024 6M25 Ciputra World Jakarta 1 79,500 100% 100% 100% 100% 100% Ciputra World Surabaya 93,400 90% 74%¹ 77%¹ 75%2 81%2 Total mall NLA of 264k sqm Ciputra Mall Jakarta 41,800 82% 89% 93% 9
Slide 23: Well-Diversified Mall Tenants with Reputable Brands
Well-Diversified Mall Tenants with Reputable Brands Mall Tenants Breakdown (% Leased Area) Main Tenants Supermarket 7% Services Department Store 4% 15% Healthy & Beauty 9% Entertainment & Leisure 18% General 14% Fashion and F&B Accessories 14% 19% 29
Slide 24: Consistent Hotel Growth Amidst Normalization Post-COVID Period
Consistent Hotel Growth Amidst Normalization Post-COVID Period Revenue per Available Room (RevPAR) (in Rp’000 /room/day) +4% 1,813 1,688 1,748 1,569 1,425 Star Hotels 1,085 -18% -0.4% -2% 523 601 537 561 575 592 561 559 455 440 490 505 460 451 400 401 223 271 2021 2022 2023 2024 6M24 6M25 2021 2022
Slide 25: Integrated Healthcare Facilities within Township Projects
Integrated Healthcare Facilities within Township Projects (Rp bn) (Rp bn) Ciputra Hospital Ciputra Hospital Ciputra Mitra Tangerang Jakarta Hospital Revenue - Inpatient Revenue - Outpatient 600 600 500 441 -27% 1% 15% 500 375 -27% 400 327 400 340 -1% 14% 323 10% 281 300 300 249 247 8% 187 207 200 20
Slide 26: Ciputra Hospital Surabaya Expansion Overview
Ciputra Hospital Surabaya Expansion Overview Ciputra Hospital Surabaya Township & location CitraLand Surabaya at West Surabaya Start operation August 2024 Maximum capacity 200 beds Operational capacity 70 beds Capital expenditure Rp520billion Center of Excellence Cardiology, Oncology, Neurosurgery A
Slide 27: Growth Strategy and Project Highlights
Growth Strategy and Project Highlights
Slide 28: Key Developments
Key Developments 1 2 3 Launched >15 new clusters in 6M25 presales: Rp5.7tn Recognition in Sustainability 27 existing projects Achievement Combined presales of Rp2.0tn Total 6M25 presales reached • 7 green building certifications (36% of 6M25 achievement) Rp5.7tn (52% of 2025 target) • 4 ESG awards •
Slide 29: 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 30: 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 31: Sustainability Achievements
Sustainability Achievements Sustainability Metrics 2024 Key Recognitions IDX ESG Leaders Index since 2020 195,373 MWh 7 165,774 ton CO2eq Electricity consumption level Green building certifications GHG Emissions ESG Sector Leaders IDX KEHATI Index since 2021 ESG Quality 45 IDX KEHATI Index 21,471 2,
Slide 32: First Green Loan: A Sustainability Milestone
First Green Loan: A Sustainability Milestone • Marks a milestone in Ciputra’s sustainability journey. Green Loan Detail • Demonstrates commitment to Environmental, Social, Facility Amount Rp950bn and Governance (ESG) principles. Tenor 7 years • Compliance with Green Standard which has been verified
Slide 33: 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 which is carried out on overse
Slide 34: Key Projects 2025 – CitraGarden Bintaro
Key Projects 2025 CitraGarden Bintaro Project scheme & location Joint operation in South of Jakarta Launch November 2023 Development plan 28 ha Market segment Middle-low to middle-up Presales 6M2025 Rp1,013billion House price range Rp1.4billion to Rp5.1billion Average unit price Rp2.6billion Units s
Slide 35: Key Projects 2025 – CitraLand Surabaya
Key Projects 2025 CitraLand Surabaya Project scheme & location Directly owned in West Surabaya Launch 1993 Development plan 1,700 ha (sold 814 ha) Market segment Middle to middle-high Presales 6M2025 Rp871billion House price range Rp832million to Rp8.1billion Average unit price Rp3.8billion Units so
Slide 36: Key Projects 2025 – CitraGarden Serpong
Key Projects 2025 CitraGarden Serpong Project scheme & location Joint operation in Tangerang, West of Jakarta Launch February 2023 Development plan 120 ha out of 350 ha masterplan Market segment Middle-low to middle-high Presales 6M2025 Rp545billion House price range Rp894million to Rp6.8billion Ave
Slide 37: Key Projects 2025 – Citra City Sentul
Key Projects 2025 Citra City Sentul Project scheme & location Joint operation in Sentul, South Greater Jakarta Launch October 2023 Development plan 400 ha Market segment Middle-low to middle-high Presales 6M2025 Rp336billion House price range Rp883million to Rp6.8billion Average unit price Rp2.8bill
Slide 38: Key Projects 2025 – CitraGarden City Jakarta
Key Projects 2025 CitraGarden City Jakarta Project scheme & location Directly owned in Kalideres, West Jakarta Launch 1984 Development plan 454 ha (sold 371 ha) Market segment Middle to high Presales 6M2025 Rp336billion House price range Rp1.9billion to Rp7.2billion Average unit price Rp4.0billion U
Slide 39: Key Projects 2025 – CitraRaya Tangerang
Key Projects 2025 CitraRaya Tangerang Project scheme & location Directly owned in Tangerang, West of Jakarta Launch 1994 Development plan 2,760 ha (sold 895 ha) Market segment Middle-low to middle-high Presales 6M2025 Rp270billion House price range Rp143million to Rp2.2billion Average unit price Rp8
Slide 40: Key Projects 2025 – CitraLand Gama City Medan
Key Projects 2025 CitraLand Gama City Medan Project scheme & location Joint operation in Medan, North Sumatra Launch February 2013 Development plan 123 ha out of 211 ha masterplan Market segment Middle and middle-up Presales 6M2025 Rp217billion House price range Rp1.3billion to Rp7.5billion Average
Slide 41: Key Projects 2025 – Ciputra World Jakarta
Key Projects 2025 Ciputra World Jakarta (CWJ) 2 - CWJ 2 - Newton 1 CWJ 2 - Newton 1 CWJ 2 - Newton 1 CWJ 2 - Tokopedia Tower CWJ 2 Newton 2 CWJ 2 - Newton 2 CWJ 2 - Newton 2 CWJ 2 - Tokopedia Tower CWJ 1 Ciputra World Jakarta Project scheme & location Directly owned in Jakarta CBD Launch June 2013 (
Slide 42: Key Projects 2025 – CitraLand Tallasa City Makassar
Key Projects 2025 CitraLand Tallasa City Makassar Project scheme & location Joint operation in Makassar, South Sulawesi Launch May 2017 Development plan 69 ha Market segment Middle Presales 6M2025 Rp114billion House price range Rp711million to Rp6.9billion Average unit price Rp2.9billion Units sold
Slide 43: Key Projects 2025 – CitraGarden Sidoarjo
Key Projects 2025 CitraGarden Sidoarjo Project scheme & location Joint venture in Sidoarjo, South Greater Surabaya Launch August 2005 Development plan 58 ha Market segment Middle Presales 6M2025 Rp101billion House price range Rp1.7billion to Rp6.3billion Average unit price Rp2.7billion Units sold 42
Slide 44: Financial Results
Financial Results a aS
Slide 45: Results Summary (Income Statement)
Results Summary (Income Statement) (Rpbn) 6M25 6M24 % YoY Effect of +21.4% YoY in Property Development segment and +0.7% Revenue 5,882 5,037 16.8% YoY in Recurring segment COGS (3,085) (2,589) 19.2% Gross Profit 2,796 2,448 14.2% Gross Profit Margin 47.5% 48.6% Effect of product mix Operating Expens
Slide 46: Results Summary (Revenue Breakdown and Margin Performance)
Results Summary (Revenue Breakdown and Margin Performance) (Rpbn) 6M25 6M24 % YoY Revenue Breakdown Property Development Revenue 4,744 3,907 21.4% Houses, shophouses, and land lots 4,350 3,572 21.8% Impact of early revenue recognition from VAT incentives Apartments 347 176 97.2% Bulk unit handover t
Slide 47: Focusing on Property Development and Minimizing Concentration Risk
Focusing on Property Development and Minimizing Concentration Risk Revenue per Segment (6M25) Revenue per Location (6M25) Office Strata Greater Surabaya 1% Apartment Strata 22% 6% Other Shopping Malls Java 6% 7% Hotels 4% Healthcare Sumatra Houses, 6% 13% shophouses, Others and land lots 3% Greater
Slide 48: Solid Development Revenue Combined by Stable Recurring Revenue
Solid Development Revenue Combined by Stable Recurring Revenue Rp tn Development vs. Recurring Revenue 12.0 11.0 10.0 2.3 9.0 1.7 8.0 1.9 2.1 7.0 1.5 23% 21% 20% 6.0 19% 5.0 1.1 18% 8.9 4.0 8.0 17% 6.6 7.2 7.1 3.0 2.0 4.7 1.0 - 2020 2021 2022 2023 2024 6M25 Development Revenue Recurring Revenue Recu
Slide 49: Debt Profile
Debt Profile Floating Rupiah As of Jun-25 76% Fixed 76% SGD Total Borrowings: Rp7.9tn 24% 24% Borrowing Cost* Maturity Profile (% of total debt) (Rptn) 12.0% 5.0 10.2% 10.4% 52% 4.5 10.0% 8.4% 8.3% 8.3% 8.3% 4.0 8.0% 7.4% 3.5 3.0 6.0% 2.5 2.0 4.0% 17% 1.5 12% 1.0 2.0% 6% 4% 4% 2% 2% 0.5 0.0% 0.0 201
Slide 50: Selective Land Banking and Expanding Investment Properties
Selective Land Banking and Expanding Investment Properties Historical Capex 2.8 Hospital Rptn 9% Mall 1% Land for 6M25 Development 73% 0.5tn Others 17% 1.1 1.1 0.8 0.8 0.7 0.5 2019 2020 2021 2022 2023 2024 6M25 57
Slide 51: Resilient Financial Performance with Continuous Growth
Resilient Financial Performance with Continuous Growth Revenue Gross Profit 11,188 9,730 9,245 9,127 5,263 8,071 4,840 4,568 4,559 4,121 5,882 5,037 2,448 2,796 51% 50% 50% 49% 49% 47% 48% 2020 2021 2022 2023 2024 6M24 6M25 2020 2021 2022 2023 2024 6M24 6M25 Gross Profit Gross Margin Net Profit Key
Slide 52: Balance Sheet Summary
Balance Sheet Summary Rpbn Jun 2025 Dec 2024 Dec 2023 Dec 2022 Dec 2021 Dec 2020 Assets 47,198 47,023 44,115 42,033 40,668 39,255 Cash & cash equivalents 10,197 10,195 10,601 9,050 7,162 5,276 Land 17,553 17,530 15,296 14,495 14,538 14,471 Fixed Assets 3,052 3,042 2,835 2,691 2,504 2,595 Investment
Slide 53: Country Overview
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Slide 54: Encouraging Macro Conditions
Encouraging Macro Conditions Real GDP Growth 5.03% 5.07% 5.17% 5.02% 5.31% 5.05% 5.03% Solid economic growth accelerating 3.69% middle class formation and increasing housing demand Home Ownership Loan Outstanding (Rptn) -2.07% 2016 2017 2018 2019 2020 2021 2022 2023 2024 800 20.0% 700 18.0% Housing
Slide 55: Property Price Index
Property Price Index • Mortgage consistently being Indonesian customers’ preference, Source of Consumer Financing (3M25) even with increased interest rate due to inflation. • There is an imperfect correlation between mortgage rate and Instalment benchmark rate. 19% • The composite Residential Proper
Slide 56: 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 57: 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 58: Appendix
Appendix
Slide 59: 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 60: 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 61: 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 62: 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 69
Slide 63: 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 70
Slide 64: 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 65: Thank you
Thank you For enquiries, please contact: Aditya Ciputra Sastrawinata, Head of Investor Relations investor@ciputra.com PT Ciputra Development Tbk Ciputra World 1, DBS Bank Tower 39th Floor Jl. Prof. Dr. Satrio Kav. 3-5, Jakarta 12940 – Indonesia (6221) 2988 5858 www.ciputradevelopment.com
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