Pt Lippo Cikarang Tbk · IDX:LPCK
Pt Lippo Cikarang Tbk — Q1 2020 Earnings Presentation
40 slides from Pt Lippo Cikarang Tbk's earnings presentation, July 2020
Slide 1: PT Lippo Cikarang Tbk 1Q20 Results Presentation
PT Lippo Cikarang Tbk 1Q20 Results Presentation July 2020
Slide 2: Contents
Contents Shareholder Structure 03 - 04 FY19 Financial Data 05 – 11 Meikarta 12 – 19 Projects Data 20 – 29 Lippo Cikarang Map and Corporate Structure 30 - 32 Appendix 33 - 41
Slide 3: Shareholder Structure
Shareholder Structure
Slide 4: Shareholder Structure
Shareholder Structure As of 30 June 2020 As of 31 December 2019 No. of No. of Changes No. Description No. of Shares % No. of Shares % Investor Investor YoY (%) I. Domestic Individual 6,114 250,952,563 9.4% 6,779 244,925,625 9.1% 2.5% Foundation 1 12,500 0.0% 1 12,500 0.0% 0.0% Pension Fund 17 699,70
Slide 5: FY19 Financial Data
FY19 Financial Data
Slide 6: Key Financial Highlights
Key Financial Highlights 1Q20 1Q19 Change (%) Presales (Rp billion) 374 388 -4% Revenue (Rp Billion) 574 399 44% Recurring Revenue (Rp billion) 96 95 1% EBITDA (Rp Billion) 203 142 43% EBITDA Margin 35% 36% N.A. Net Income (Rp billion) 794 151 425% Net Debt/Equity Ratio (X) N.A. N.A. N.A. Interest C
Slide 7: Summary of balance sheet and marketing sales
Summary of balance sheet and marketing sales Balance Sheet (Rp Billion) Dec 2017 Dec 2018 Dec 2019 Mar 2020 Assets 11,267 9,226 12,219 13,899 Debt 249 - 200 500 Liabilities 4,734 1,696 1,337 2,942 Equity 6,533 7,530 10,882 10,958 Return on Assets (%) -7.3% 21.3% 2.5% 5.7% Return on Equity (%) -12.6%
Slide 8: Balance Sheet
Balance Sheet (Rp bn, consolidated) ASSETS 1Q20 1Q19 LIABILITIES & STOCKHOLDERS' EQUITY 1Q20 1Q19 Current Assets Current Liabilities Cash & Cash Equivalent 803 523 Bank Loan 500 200 Account Receivable 44 267 Accounts Payable 139 114 Available for Sale Financial Assets 96 230 Accrued Exp. & Taxes Pay
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 12,000 200 312 500 200 5,219 10,000 10,000 2,523 4,928 8,000 578 121 803 8,000 2,896 223 523 1,672 249 75 6,000 623 1,690 6,000 10,570 10,758 1,739 4,000 8,045 4,000 7,297 5,078 6,205 6,
Slide 10: Income statement 1Q20 and 1Q19
Income statement 1Q20 and 1Q19 (in Rp million) 1Q 2020 1Q 2019 Change % FY 2019 FY 2018 Change % Total Revenues 574,379 399,358 175,021 44% 1,060,339 1,840,763 (780,424) -42% COGS 304,906 230,876 74,030 32% 641,600 740,435 (98,835) -13% Gross Profit 269,473 168,482 100,991 60% 418,739 1,100,328 (681
Slide 11: Income statement highlights
Income statement highlights Property marketing sales (RpBn) Revenue (RpBn) 16 - 1 52 340 81 77 327 285 368 33 367 857 16 54 - 135 123 387 78 96 87 5 57 71 8 54 59 54 935 177 276 1,129 935 825 362 2017 2018 2019 1Q20 2017 2018 2019 1Q20 Residential Commercial Industrial DS 8 Orange County Residential
Slide 12: Meikarta
Meikarta
Slide 13: Strategic region for growth between Jakarta and 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 year to date
Meikarta: Significant progress year to date December 2019 March 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 62 towers, of which
Slide 17: Meikarta Construction Progress March 2020
Meikarta Construction Progress March 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 American Style 20
Slide 21: Waterfront - Affordable Landed Residential Housing
Waterfront - Affordable Landed Residential Housing American Style 21
Slide 22: Waterfront - Affordable Landed Residential Housing
Waterfront - Affordable Landed Residential Housing American Style 22
Slide 23: Waterfront - Affordable Landed Residential Housing
Waterfront - Affordable Landed Residential Housing American Style 23
Slide 24: Waterfront - Affordable Landed Residential Housing
Waterfront - Affordable Landed Residential Housing American Style 24
Slide 25: TRIVIUM
TRIVIUM North Tower Launched : 24 Nov 2012 SGA Sold : 20,142 sqm ASP : Rp 12,1 Mil / sqm Pre – Sold : Rp 245 bil (100%) North Tower South Tower The Suites Payment : Cash 19% (368 unit) (422 unit) (362 unit) Profile Mortgage 23% Instalment 58% South Tower Launched : 1 Jun 2013 SGA Sold : 22,081 sqm A
Slide 26: Orange County
Orange County IRVINE SUITES Launched : 29 Nov 2014 SGA Sold : 24,545 sqm ASP : Rp 13,6 Mil / sqm Pre – Sold : Rp 333 bil (100%) Payment : Cash 5% Profile Mortgage 3% Instalment 92% WESTWOOD SUITES Launched : 29 Nov 2014 Glendale Park Pasadena Suites SGA Sold : 21,677 sqm (505 units) (408 units) ASP
Slide 27: Progress of Orange County
Progress of Orange County Start from 1 SEPTEMBER 2018 ts ‘o wie D OVER ! NOAG HAND OVER of PASADENA $1. TS: LIPPO GROUP = |CIKARANG|
Slide 28: Complete Public Facilities
Complete Public Facilities WATER BOOM INTERNATIONAL HOSPITAL COMMERCIAL CENTER INTERNATIONAL SCHOOL Leisure & Excitement Siloam Hospital Easton Commercial Center Sekolah Pelita Harapan 5 STARS HOTEL 4 STARS Hotel SERVICED APARTMENTS SHOPPING MALL LIFESTYLE MALL Hotel Sahid Jaya & Grand Zuri Hotel AX
Slide 29: Lippo Cikarang Map and Corporate Structure
Lippo Cikarang Map and Corporate Structure
Slide 30: Map Lippo Cikarang
Map Lippo Cikarang Existing Industrial Orange County Industrial Landbank EJIP (Sumitomo) BIIE (Hyundai) Existing Residential Houses > 17,192 Residential Condominium Residential > 4,466 Houses Shophouses >> 17,192 1,216 Condominium Industrial > > 1,3164,488 Shophouses Global Client > 1,216 Industrial
Slide 31: 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 31 March 2020 No. of outstanding share 2.679.600.000 Code : LPCK IJ Lippo Cikarang Orange County East Jakarta Corridor Trivium Terr
Slide 32: Appendix
Appendix LIPPO GROUP E
Slide 33: Indonesian Property Potential for growth
Indonesian Property Potential for growth ASIA PACIFIC PROPERTY Rapid urbanisation Growing middle–class RENTAL YIELD Strong savings and income growth INDONESIA 8.61% Low mortgage penetration Property as investment PHILLIPINES 6.13% Improving regulatory environment THAILAND 5.13% Banking
Slide 34: Foreign ownership remains a challenge
Foreign ownership remains a challenge 34
Slide 35: Overview of Jakarta's Condominium market
Overview of Jakarta’s Condominium market Condominium Market Overview 1Q20 SALES RATE BY GRADE 80,000 80% 75% 70,000 72% 30,000 100% 71% 60,000 67% 70% 25,000 80% 64% 63% 62% 65% 65% 50,000 61% 20,000 60% 60% 58% 60% Units 40,000 60% Units 15,000 30,000 51% 40% 10,000 20,000 50% 20% 5,000 10,000 0 0%
Slide 36: Overview of Jakarta's Industrial Market
Overview of Jakarta’s Industrial Market 36
Slide 37: 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 38: LPCK trading performance
LPCK trading performance Price to Book as of 30 May 2020 1.6 1.4 1.4 1.2 1.0 0.8 0.6 Peers average 0.5x 0.6 0.4 0.4 0.3 0.3 0.2 0.2 0.1 - DMAS KIJA SSIA BKSL BEST LPCK MDLN Source : Bloomberg as at 30 May 2020; Peers average determined based on the simple average P/BV ratio of DMAS, KIJA, SSIA, BKSL
Slide 39: Board of Commissioners and Directors
Board of Commissioners and Directors team focused on corporate governance and driving the business Board of Commissioners Drs. Theo L. Sambuaga Sugiono Djauhari Ali Said Hadi Cahyadi Didik J. Rachbini President Commissioner Commissioner Independent Independent Independent Commissioner Commissioner C
Slide 40: Investor Relations
Investor Relations Lora Oktaviani Corporate Secretary : lora.oktaviani@lippo-cikarang.com : +62 21 8972484 : www.Lippo-Cikarang.com