PT Lippo Karawaci Tbk : Investor release - LPKR 1H25 Results

About this update from Pt Lippo Karawaci Tbk

INVESTOR RELEASE FOR IMMEDIATE RELEASE 15 August 2025 LPKR Achieves IDR 2.47tn in Marketing Sales, 40% of 2025 Full Year Target Revenue, EBITDA and NPAT at IDR 4.12tn, IDR 627bn and IDR 138bn, supported by strong project handover and lower interest cost JAKARTA - PT Lippo Karawaci Tbk ("LPKR" or the "Company"), Indonesia's leading integrated real estate and healthcare platform, today announced its financial results for the half of 2025. Despite ongoing macroeconomic challenges and subdued consumer purchasing power, LPKR demonstrated strong financial resilience by maintaining a Net Profit After Tax (NPAT) of IDR 138 billion. More notably, the Company's Underlying NPAT has increased by 36% to IDR 208 billion, reflecting substantial improvement in profitability. This achievement underscores LPKR's continued focus on strengthening its core businesses in Real Estate and Lifestyle segments, executing operational efficiencies, and maintaining disciplined financial management, particularly through effective cost controls and ongoing deleveraging efforts. On a statutory basis, the Company reported revenue of IDR 4.12tn and EBITDA of IDR 627bn, lower by 49% and 68% YoY respectively, reflecting the deconsolidation of PT Siloam International Hospitals Tbk ("SILO") in June 2024. On a like-for-like basis, assuming SILO had been deconsolidated in 1H24, revenue for 1H24 would have been IDR 3.04tn implying a growth of 35% YoY. Exhibit 1: LPKR Statutory P&L Highlights (1H25 vs 1H24) (In IDR bn) 1H25 1H24 Var YoY %YoY Revenue 4,117 8,002 (3,885) -49% Gross Profit 1,501 3,537 (2,036) -58% Opex (874) (1,599) 725 45% EBITDA 627 1,938 (1,311) -68% Income (Loss) on Associates 274 65 209 322% Interest (142) (557) 415 75% Tax (134) (318) 184 58% Others 1 (417) (975) 558 57% Underlying NPAT 208 153 55 36% Non-Operational and One-off Items 2 (70) 19,736 (19,806) NM NPAT 138 19,889 (19,751) NM 1 Others mainly consist of the rental equivalent expense component from the PSAK 73 leasing calculation 2 Non operational accounting adjustments from SILO one-off in 1Q24, bonds buyback, FX and others While operating cash flow declined as expected following SILO's deconsolidation, LPKR ended the period with strong liquidity, increasing cash to IDR 6.5tn from IDR 1.6tn a year earlier, underscoring prudent cash management. A key highlight for the first half was the reduction in net interest expense, which fell 73% YoY to IDR 174bn. LPKR has secured a new BTN loan facility to refinance its syndicated loan, providing a more competitive interest rate of BI 7D RR plus margin with range of 1.4% to 1.75%. Exhibit 2: LPKR Cash Flow Highlights (1H25 vs 1H24) (In IDR bn) 1H25 1H24 Var YoY %YoY Cash at beginning 5,328 2,650 2,678 101% Cash from operating activities (894) 1,688 (2,582) -153% Business operations (721) 2,334 (3,054) -131% Net Interest Expense (174) (645) 471 73% Cash from investing activities (94) 2,470 (2,564) 104% Cash from financing activities 2,158 (5,205) 7,363 141% Bond Repayment (1,035) (3,631) 2,596 71% Receipts / (Repayment) bank loan 3,347 (1,179) 4,526 384% Others (153) (395) 242 61% Forex Impact 3 2 1 50% Cash at end 6,501 1,606 4,895 305% Real Estate: Resilient Sales Momentum and Timely Execution LPKR's real estate segment posted marketing sales of IDR 2.47tn in 1H25, reaching 40% of the full-year target. This performance was driven by sustained demand for both affordable and premium landed housing across multiple regions, which contributed 67% of total marketing sales, reflecting strong interest from first-time homebuyers and end-users. The achievement was supported by the launch of Park Serpong phase 4 and the introduction of our new premium offerings, Belmont Homes and Bentley Homes. Exhibit 3: Marketing sales results (in IDR bn) Exhibit 4: Marketing sales targets vs results (by projects) Project Location FY25 Marketing sales target (in IDR bn) 1H25 Marketing sales result (in IDR bn) 1H25 Units sold Lippo Karawaci (Holdco) 4,600 1,681 2,018 Residentials Various Locations¹ 3,700 1,248 1,382 Commercial Various Locations¹ 550 274 156 High rise inventory Various Locations¹ 100 56 33 San Diego Hills Karawang, West Java 200 62 445 Land Plot Various Locations¹ 50 41 2 Lippo Cikarang 1,650 791 688 Residentials East Greater Jakarta 1000 414 540 Industrial East Greater Jakarta 100 63 17 Commercial East Greater Jakarta 550 314 131 Total 6,250 2,472 2,706 ¹ Various locations including Lippo Village, Park Serpong, Tanjung Bunga, Jakarta, and Manado Within Lippo Karawaci (Holdco), residential sales contributed IDR 1.25tn, complemented by commercial unit sales of IDR 274bn, land plots of IDR 41bn, and cemetery plots at San Diego Hills totalling IDR 62bn. Sales momentum was further boosted by our premium offerings, Belmont Homes and Bentley Homes, located in the heart of Lippo Village. Exhibit 5: Marketing sales breakdown in Lippo Karawaci Lippo Karawaci Location 1H25 Marketing Sales Result (in IDR bn) 1H25 Units Sold Key Products Landed residentials West Greater Jakarta 1,015 1,129 Cendana Suites, QXYZ Livin, and Blackstar Series Makassar, South Sulawesi 202 188 QXYZ Livin, Rolling Hills, The Prestige Mid-rise residentials West Greater Jakarta 31 65 Urbn X Shophouses West Greater Jakarta 274 156 The Hive @Parkhills Boulevard High-rise inventory North-east Jakarta 15 5 Holland Village West Greater Jakarta 41 28 Millenium Village Total 1,578 1,571 Lippo Cikarang reported IDR 791bn in marketing sales, with landed homes and shophouses accounting for over 92% of total sales. Projects such as XYZ Livin and Cendana Spark North continued to attract strong buyer interest. We also introduced the new premium series, The Allegra @ Casa de Lago, starting at IDR 2.14bn for a 112m² land plot with a 138.5m² building. Exhibit 6: Marketing sales breakdown in Lippo Cikarang Lippo Cikarang 1H25 Marketing Sales Result (in IDR bn) 1H25 Units Sold Key Products Landed residentials 376 459 XYZ Livin, Cendana Spark North Low-rise residentials 16 49 Newville High-rise inventory 22 32 Orange County Industrial 63 17 Delta Silicon 3 Shophouses 314 131 The Hive @Spark North Total 791 688 In 1H25, 63% of sales were financed through mortgages, underscoring strong end-user demand and reaffirming the success of LPKR's strategy in meeting Indonesia's affordable housing needs. Exhibit 7: Payment profile (excluding land plot sales) Payment mode 1H25 1H24 Mortgage 63% 74% Cash 15% 13% Instalment 22% 13% Total 100% 100% Revenue for the segment grew 51% YoY to IDR 3.46tn, driven by timely handovers of residential and commercial units and steady demand for cemetery plots at San Diego Hills. EBITDA remained at IDR 526bn, supported by operational efficiencies and effective execution. Exhibit 8: Real Estate P&L Highlights (1H25 vs 1H24) (In IDR bn) 1H25 1H24 Var YoY %YoY Revenue 3,457 2,296 1,161 25 (100) 51% 3% -26% Gross Profit 1,007 982 Opex (480) (380) EBITDA 526 602 (76) -13% Lifestyle: Steady Recovery in Malls and Hotels LPKR's lifestyle segment delivered a solid performance in 1H25, with revenue holding steady at IDR 659bn. Gross profit increased 13% to IDR 493bn, while EBITDA rose 41% YoY to IDR 213bn, supported by stronger tenant leasing, ongoing operational recovery, and continued cost optimization. Exhibit 9: Lifestyle P&L Highlights (1H25 vs 1H24) (In IDR bn) 1H25 1H24 Var YoY %YoY Revenue 659 652 7 1% Gross Profit 493 435 58 13% Opex (280) (284) 4 2% EBITDA 213 151 62 41% Operationally, average hotel room rates climbed 5% YoY to IDR 636k, and mall footfall held steady at over 11 million visitors per month, reflecting sustained momentum in retail recovery. Exhibit 10: Lifestyle Operational Metrics Highlights Key operational metrics 1H25 1H24 %YoY Hotels Average room rate (in IDR) Average occupancy rate 636,631 57% 603,959 63% 5% -10% Malls Average footfall traffic 11 10.0 10% CEO of LPKR, John Riady said, "We are pleased to report our marketing sales and financial results for the first half of 2025, supported by the timely handover of various products across multiple regions. Our affordable housing strategy, complemented by offerings in the premium segment, has driven strong marketing sales performance. Notably, our deleveraging initiatives have significantly strengthened our capital structure." Attention : This is an excerpt of the original content. To continue reading it, access the original document here .

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