Slide 1: Results Presentation 2023
Results Presentation 2023 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 - Achieve All-Time High Marketing Sales Record
Key Highlights - Achieve All-Time High Marketing Sales Record Achieved all-time marketing sales record of Rp10.2tn Successful launches in 2023 with a total contribution in 2023, targeting +8% growth YoY to Rp11.1tn in 2024 of Rp6.4trillion marketing sales from 3,658 units Marketing Sales (Rpbn) 11,1
Slide 5: Key Highlights - Consistent Improvement in Investment Properties
Key Highlights - Consistent Improvement in Investment Properties Improving operations in all shopping malls Strong RevPAR growth in all hotel assets Mall Revenue (Rpbn) ARR (Rp’000) +6% YoY +12% • 12M23 Revenue Rp657bn 586 YoY 657 (+12% YoY) 639 680 • 12M23 ARR Rp680,000 (+6% YoY) FY22 FY23 2022 202
Slide 6: Key Highlights - Strong Capital Position
Key Highlights - Strong Capital Position Improving balance sheet Ample liquidity 57% Cash (Rpbn) 52% 49% 43% 36% 28% 27% 12% -1% 10,601 9,050 -11% 2019 2020 2021 2022 2023 2022 2023 Debt to Equity Net Debt to Equity • More selective land banking and • Improving balance sheet strength from deferring
Slide 7: Key Highlights – Supportive Government Regulation: VAT Incentives
Key Highlights – Supportive Government Regulation: VAT Incentives • The government provides a VAT incentive for houses, shophouses, and apartments up to a maximum price of Rp5.0bn per unit, subsidizing the VAT on the first Rp2.0bn of the unit’s value. VAT Exemption Period 100% Nov 2023 – Jun 2024 50
Slide 8: Company Overview
Company Overview 9
Slide 9: Ciputra at a Glance
Ciputra at a Glance Footprints Financial Highlights Number of Green Building Directly Owned Total Assets (12M23) EBITDA (12M23) Projects Certifications Land Bank Rp44.1tn Rp3.1tn >86 5 2,200 Ha Revenue (12M23) ROAE (12M23) Employees 58.7% JO Land Bank Rp 9.2tn 9.6% 4,413 41.3% 4,022 Ha Net Profit (1
Slide 10: One of Indonesia’s Leading Property Developer
One of Indonesia’s Leading Property Developer Property Development for Sale Commercial Property Development & Management Shopping Mall - 5 projects Township & Residential - 67 projects Hotel - 9 projects Condominium - 11 projects Healthcare - 3 projects Strata/Office for Sale - 8 projects Office for
Slide 11: Geographically Diversified Project Portfolio
Geographically Diversified Project Portfolio Kalimantan Over 87 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 12: Greater Jakarta Project Portfolio
Greater Jakarta Project Portfolio 13
Slide 13: Strong Growth and Geographically Diversified Marketing Sales
Strong Growth and Geographically Diversified Marketing Sales Historical Presales Presales per Location (Rpbn) +8% 2023 2024T 11,101 10,241 Greater Greater Surabaya Surabaya 21% Other Java Greater 19% 8% 8,243 Jakarta Other Java Greater 7,427 52% 8% Jakarta Sumatra 7,291 Sumatra 40% 22% 6,954 5,493 S
Slide 14: Expanding Middle Segment with Mortgage as Most Popular Form of Payment
Expanding Middle Segment with Mortgage as Most Popular Form of Payment Presales per Payment Method Presales per Unit Price 6% 7% 6% 15% 15% 13% 19% 20% 21% 25% 21% 29% 35% 32% 18% 15% 31% 18% 41% 40% 39% 32% 34% 62% 63% 25% 32% 53% 58% 50% 34% 31% 25% 19% 15% 2019 2020 2021 2022 2023 2019 2020 2021
Slide 15: Sufficient Land Bank to Sustain >15 Years of Development
Sufficient Land Bank to Sustain >15 Years of Development Ownership Gross Land Bank 2023 Average Unit Project Name Scheme 2022 (Ha) Price (Rpbn) CitraRaya Tangerang 100% 780 1.0 CitraIndah City Jonggol 100% 167 0.7 CitraGarden City Jakarta 100% 78 4.5 CitraGarden Puri Jakarta 100% 1 1.9 CitraLand Cib
Slide 16: Rights to Additional Land Bank Through Joint-Operation Schemes
Rights to Additional Land Bank Through Joint-Operation Schemes Development 2023 Average Unit Development 2023 Average Unit Joint Operation Project Joint Operation Project Plan (Ha) Price (Rpbn) Plan (Ha) Price (Rpbn) Citra Sentul Raya 38 1.8 CitraGrand Senyiur City Samarinda 295 0.5 CitraLake Sawang
Slide 17: 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 86% 358 100% The Orchard 31,000 94% 94 100% Ciputra World Jakarta 2 100% The Residence 14,000 96%
Slide 18: 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% 19,200 92% 73 100% Ciputra World Jakarta 2 Tokopedia Tower 100% 28,000 83% 210 100
Slide 19: 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 20: Healthy Occupancy and Lease Expiry Profile for Malls
Healthy Occupancy and Lease Expiry Profile for Malls Net Leasable Occupancy Rate Mall Area (sqm) 2019 2020 2021 2022 2023 Ciputra World Jakarta 1 79,500 100% 100% 100% 100% 100% Ciputra World Surabaya 87,500 96% 94% 90% 74%* 77%* Total mall NLA of 257k sqm Ciputra Mall Jakarta 43,600 98% 93% 82% 89%
Slide 21: Well-Diversified Mall Tenants with Reputable Brands
Well-Diversified Mall Tenants with Reputable Brands Mall Tenants Breakdown (% Leased Area) Reputable Tenants Supermarket Services 4% 4% Healthy & Beauty Department Store 7% 19% General 15% Entertainment & Leisure 19% Fashion and Accessories 16% F&B 16% 23
Slide 22: Most of Hotel Operational Metrics Already Surpassed Pre-COVID Levels
Most of Hotel Operational Metrics Already Surpassed Pre-COVID Levels Revenue per Available Room (RevPAR) (in Rp’000) +10% 1,569 1,422 1,425 Star Hotels 1,085 +15% +3% +22% 573 523 583 561 575 461 455 489 490 400 373 401 152 223 220 271 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 2019 2020 2021
Slide 23: Integrated Healthcare Facilities within Township Projects
Integrated Healthcare Facilities within Township Projects (Rp bn) (Rp bn) Revenue - Inpatient Revenue - Outpatient Ciputra Hospital Ciputra Hospital Ciputra Mitra Tangerang Jakarta Hospital 600 600 500 441 -27% 500 57% 0% 400 39% -27% 400 323 322 340 1% 44% 281 300 72% 249 251 300 244 195 200 200 14
Slide 24: Growth Strategy and Project Highlights
Growth Strategy and Project Highlights
Slide 25: Key Developments
Key Developments 1 2 3 Launched three new projects and >15 new clusters in 30 FY23 presales: Rp10.2tn Recognition in Sustainability existing projects Achievement Combined presales of Rp6.4tn Total FY23 presales reached • 5 green building certifications (62% of FY23 achievement) Rp10.2tn (105% of 202
Slide 26: Growth Strategy
Growth Strategy Retain healthy land bank levels Wide geographical footprint Increase portion of recurring income Continuously replenishing land bank Allow diversification of products While simultaneously boost synergy by in existing projects while searching and target market while focusing on compli
Slide 27: 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 28: Sustainability Achievements
Sustainability Achievements Sustainability Metrics 2022 Key Recognitions IDX ESG Leaders Index since 2020 162,987 MWh 5 510,853 ton CO2eq Electricity consumption level Green building certifications GHG Emissions ESG Sector Leaders IDX KEHATI Index since 2021 ESG Quality 45 IDX KEHATI Index 17.4 hour
Slide 29: 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 in more than 7 cities overseas
Slide 30: New Projects 2024
New Projects 2024 CitraLand City Sampali Kota Deli Megapolitan Prime Location Location Medan, North Sumatra 5 min. from H. Anif exit Launch January 2024 toll Development plan Phase 1: 35 ha 25 min. from Market segment Middle and middle-up Medan city Pre-sales 1M2024 Rp844billion center House price r
Slide 31: New Projects 2024
New Projects 2024 ARAH CitraLand Gresik Kota LAMONGAN Location Gresik, East Java Development plan 28 ha Market segment Middle Estimated launch 2H2024 2024 est. pre-sales Rp250billion Unit price Starting from Rp1.0billion Others Accessibility: 5.9 km to Alun-Alun Kota Gresik 8.6 km to Romokalisari ex
Slide 32: New Projects 2023
New Projects 2023 CitraGarden Serpong Location Tangerang, West of Jakarta Launch February 2023 Development plan 120 ha out of 350 ha masterplan Market segment Middle-low to middle-high Pre-sales 2023 Rp2.4trillion House price range Rp684million to Rp4.4billion Average unit price Rp1.7billion Units s
Slide 33: New Projects 2023
New Projects 2023 Citra City Sentul Location Sentul, South Greater Jakarta Launch October 2023 Development plan 400 ha Market segment Middle-low to middle-high Pre-sales 2023 Rp685billion House price range Rp997million to Rp4.8billion Average unit price Rp2.0billion Units sold 385 units Others Acces
Slide 34: New Projects 2023
New Projects 2023 CitraGarden Bintaro Location South of Jakarta Launch November 2023 Development plan 28 ha Market segment Middle-low to middle-up Pre-sales 2023 Rp720billion House price range Rp1.2billion to Rp4.7billion Average unit price Rp2.3billion Units sold 348 units Others Accessibility: 10
Slide 35: Key Projects 2023
Key Projects 2023 CitraLand Surabaya Location West Surabaya Launch 1993 Development plan 1,700 ha (sold 801 ha) Market segment Middle to middle-high Pre-sales 2023 Rp1.4trillion House price range Rp519million to Rp7.7billion Average unit price Rp2.5billion Units sold 604 units Others Launched new cl
Slide 36: Key Projects 2023
Key Projects 2023 CitraLand Gama City Medan Location Medan, North Sumatra Launch February 2013 Development plan 123 ha out of 211 ha masterplan Market segment Middle and middle-up Pre-sales 2023 Rp691billion House price range Rp1.3billion to Rp6.9billion Average unit price Rp3.6billion Units sold 21
Slide 37: Key Projects 2023
Key Projects 2023 Jarak Proyek: Pelabuhan: 2.6 km; Bandara: 20.2 km Trans Studio Mal: 1.8 km; Pantai Losari: 550 m CitraLand City Losari Makassar Location Makassar, South Sulawesi Launch October 2015 Development plan 157 ha (sold 35 ha + 50 ha to government) Market segment Middle to high Pre-sales 2
Slide 38: Key Projects 2023
Key Projects 2023 CitraGarden City Jakarta Location Kalideres, West Jakarta Launch 1984 Development plan 454 ha (sold 364 ha) Market segment Middle to high Pre-sales 2023 Rp460billion House price range Rp2.1billion to Rp12.6billion Average unit price Rp4.5billion Units sold 113 units Others Launched
Slide 39: Key Projects 2023
Key Projects 2023 CitraRaya Tangerang Location Tangerang, West of Jakarta Launch 1994 Development plan 2,760 ha (sold 882 ha) Market segment Middle-low to middle-high Pre-sales 2023 Rp381billion House price range Rp337million to Rp4.1billion Average unit price Rp1.0billion Units sold 414 units Other
Slide 40: Key Projects 2023
Key Projects 2023 Ciputra International Location Puri Indah, West Jakarta Launch September 2014 Development plan 7.5 ha Market segment Middle and middle-up Pre-sales 2023 Rp214billion House price range Rp657million to Rp7.8billion Average unit price Rp16.9billion Units sold 14 units Others First pha
Slide 41: Key Projects 2023
Key Projects 2023 CitraLand Tallasa City Makassar Location Makassar, South Sulawesi Launch May 2017 Development plan 69 ha (sold 39 ha) Market segment Middle Pre-sales 2023 Rp202billion House price range Rp636million to Rp4.1billion Average unit price Rp1.9billion Units sold 119 units Others Launche
Slide 42: Key Projects 2023
Key Projects 2023 CitraGrand Semarang Location Semarang, Central Java Launch September 2012 Development plan 55 ha (sold 30 ha) Market segment Middle and middle-up Pre-sales 2023 Rp179billion House price range Rp879million to Rp5.0billion Average unit price Rp1.9billion Units sold 106 units Others L
Slide 43: Key Projects 2023
Key Projects 2023 CitraIndah City Jonggol Location South Greater Jakarta Launch 1997 Development plan 780 ha (sold 648 ha) Market segment Middle and middle low Pre-sales 2023 Rp163billion House price range Rp193million to Rp1.2billion Average unit price Rp658million Units sold 275 units Others - 45
Slide 44: Financial Results
Financial Results a 7) eee
Slide 45: Results Summary (Income Statement)
Results Summary (Income Statement) (Rpbn) 2023 2022 % YoY Effect of -0.9% YoY in Property Development segment and +9.6% Revenue 9,245 9,127 1.3% YoY in Recurring segment COGS (4,686) (4,559) 2.8% Gross Profit 4,559 4,568 -0.2% Gross Profit Margin 49.3% 50.0% Effect of product mix Operating Expense (
Slide 46: Results Summary (Revenue Breakdown and Margin Performance)
Results Summary (Revenue Breakdown and Margin Performance) (Rpbn) 2023 2022 % YoY Revenue Breakdown Property Development Revenue 7,121 7,188 -0.9% Houses, shophouses, and land lots 6,061 6,122 -1.0% Impact of early revenue recognition from VAT incentives in 2021 and 2022 marketing sales Office for s
Slide 47: Focusing on Property Development and Minimizing Concentration Risk
Focusing on Property Development and Minimizing Concentration Risk Revenue per Segment (12M23) Revenue per Location (12M23) Office StrataApartment Other 4% Greater Surabaya Strata Java 19% 7% Shopping 11% Malls 7% Hotels Sumatra 6% 11% Healthcare 6% Houses, Others Sulawesi shophouses, and 4% 13% lan
Slide 48: Solid Development Revenue Complemented by Stable Recurring Assets
Solid Development Revenue Complemented by Stable Recurring Assets Rptn Development vs. Recurring Revenue 11.0 10.0 9.0 1.7 1.9 2.1 8.0 7.0 1.5 1.8 1.9 6.0 21% 23% 25% 18% 17% 5.0 23% 4.0 8.0 6.6 7.2 7.1 3.0 5.9 5.7 2.0 1.0 - 2018 2019 2020 2021 2022 2023 Development Revenue Recurring Revenue Recurri
Slide 49: Debt Profile
Debt Profile As of Dec-23 Floating Fixed Rupiah SGD 78% 22% 78% Total Borrowings: Rp8.1tn 22% Borrowing Cost* Maturity Profile (% of total debt) (Rptn) 12.0% 5.0 10.3% 10.2% 10.4% 54% 4.5 10.0% 8.4% 8.3% 8.3% 4.0 8.0% 7.4% 3.5 3.0 6.0% 2.5 22% 2.0 4.0% 1.5 2.0% 8% 7% 1.0 5% 2% 2% 1% 0.5 0.0% 0.0 201
Slide 50: Selective Land Banking and Deferring Non-committal Capex
Selective Land Banking and Deferring Non-committal Capex Hospital Historical Capex 31% Hotel Mall 1% Rptn 2% 2.0 12M23 1.1tn Others 22% 1.3 1.1 1.1 0.8 0.8 Land for 0.7 Development 44% 2017 2018 2019 2020 2021 2022 2023 52
Slide 51: Resilient Financial Performance with Continuous Growth
Resilient Financial Performance with Continuous Growth Revenue Gross Profit 9,730 9,127 9,245 7,670 8,071 7,608 4,840 4,568 4,559 4,121 3,628 3,792 51% 50% 50% 50% 49% 47% 2018 2019 2020 2021 2022 2023 2018 2019 2020 2021 2022 2023 Gross Profit Gross Margin Net Profit Key Ratios 2.4 2.0 2.2 2.0 2.2
Slide 52: Balance Sheet Summary
Balance Sheet Summary Rpbn Dec 2023 Dec 2022 Dec 2021 Dec 2020 Dec 2019 Dec 2018 Assets 44,115 41,902 40,668 39,255 36,196 34,289 Cash & cash equivalents 10,601 9,042 7,162 5,276 4,238 3,243 Land 15,296 14,495 14,538 14,471 13,523 13,048 Fixed Assets 2,835 2,569 2,504 2,595 3,089 3,114 Investment Pr
Slide 53: Country Overview
lew > i oD) => Oo ~ — aa) (= > (e) UO
Slide 54: Encouraging Macro Conditions
Encouraging Macro Conditions Real GDP Growth 4.88% 5.03% 5.07% 5.17% 5.02% 5.31% 5.04% Robust economic growth accelerating 3.69% middle class formation and increasing housing demand Home Ownership Loan Outstanding (Rptn) -2.07% 2015 2016 2017 2018 2019 2020 2021 2022 2023 700 15.0% 600 Housing Loan
Slide 55: Property Price Index
Property Price Index Source of Consumer Financing • Mortgage consistently being Indonesian customers’ preference, 16% 20% 18% 17% 18% 17% even with increased interest rate due to inflation. 7% 8% 7% 7% 7% 7% • There is an imperfect correlation between mortgage rate and benchmark rate. 77% 72% 75% 76
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 64
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 65
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! PT Ciputra Development Tbk Investor Relations Ciputra World 1 DBS Bank Tower 39th Floor Jl. Prof. DR. Satrio Kav. 3-5 Jakarta 12940 – Indonesia Phone : +62 21 29885858 / 6868 Fax : +62 21 29888787 Email : investor@ciputra.com Website : www.ciputradevelopment.com PT Ciputra Development Tbk