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Confidential Pakuwon PT JatiJati Tbk Pakuwon Results Presentation – 1Q 2023 Public Expose RUPS June 25, 2025
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Table Of Contents
Section 1 Achievement Highlights 2
Section 2 Financial Highlights 8
Section 3 Project Development 12
Section 4 Sustainability Achievement 24
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Section 1 Achievement Highlights
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Key Highlights – 1Q2025
Financial Sustainability
✓ 1Q2025 revenue reached of Rp 1.5tn (c.US$93.8m), ✓ On 25 March 2025, SBTi
driven by double-digit growth in recurring revenue. validated PT Pakuwon Jati’s near-
✓ 1Q2025 EBITDA stood at Rp 834bn (c.US$50.3m), term emissions reduction target,
with a resilient EBITDA margin of 54%, supported by confirming alignment with SBTi
88% of EBITDA recurring. Standards (v5.2).
✓ Consistently strong profitability, with net income
margin at 39% 1
Hospitality Update Housing Update
✓ The launching of Grand Cayman,
✓ Grand Opening of Fairfield by
28-ha one-gated cluster within
Marriott on April 18th, 2025, at
Pakuwon City township.
Superblock Pakuwon Mall Bekasi,
Currently developing 65 units
the first Marriott Hotel in Bekasi
with price ranging from 3.6bn -
featuring 166 rooms including
11bn for land area of each house
suites.
Grand Opening Fairfield Bekasi ranging from 128m2 - 360m2
Grand Cayman – Pakuwon City
Notes:
1. Adjusted for forex gain (loss) of (Rp118bn) in 1Q 2025 , (Rp128bn) in 1Q 2024 and loss of investment of (Rp88bn) in 1Q 2025 3
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Results Breakdown - 1Q2025
Revenue by segment Revenue by project Revenue by geography
Landed houses Bali Central Java Bali Bekasi
7% Bekasi 1% 9% Kota 4%
Central Java 1%
Condo sales 4% Kasablanka 9%
Royal Plaza
8% 17%
2%
Office leasing Grand Jakarta
4% Pakuwon 34%
3% Gandaria City
14%
Pakuwon City
Hotel & Serviced Retail leasing 9% Blok M Plaza
Apartments 61% 3%
20%
Tunjungan City Somerset
19% 0% Surabaya
52%
Pakuwon Mall
19%
• 85% recurring revenue • Surabaya: highest proportion of revenue from • Geographically, PWON continues to leverage
Pakuwon Mall and Tunjungan City on revenue from Surabaya and Jakarta
• PWON consistently expands its recurring properties while expanding the base to
income portfolio to reinforce stability. • Jakarta: highest proportion of revenue from Kota Central Java, Bali and Bekasi
Kasablanka
• PWON is strategically broadening its
revenue footprint to KK Extension, Batam,
Semarang, Gandaria City Extension, IKN.
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Recurring Operation Highlights
Malls and hotels remain the primary revenue drivers.
Rp (bn) Recurring Revenue
5%
15%
-17%
1,201 1,322
Pakuwon Mall Bekasi
Revenue 1Q 2024 Retail Leasing Hotel & Service Office Leasing Revenue 1Q 2025
Apartment
A brief explanation of the growth:
- Retail leasing grew 15% due to increase in occupancy, average rental
revenue and the opening of Pakuwon Mall Bekasi.
- Hotel & service apartments grew 5% due to high ADR and F&B income.
- Office leasing revenue fell by 17% due to lower occupancy.
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Residential Pre-sales
Total pre-sales in 1Q 2025 were Rp 331bn, which was supported by government incentives
(Rp bn)
GSA Progress Handover
1,800 Superblock / Township Project name Segment % Sold
(sqm) update Schedule
1,554 2 Residential
1,600 12 1,500 1 2
1,434 Angelo Condo 36.9k 98% Completed 2018
2
1,400 1,342 Highrise
Kota Kasablanka Bella Condo 36.8k 98% Completed 2018
1,200
741 836 Chianti Condo 47.3k 100% Completed 2019
683
1,000 Pakuwon Tower Office 31.6k 26%3 Completed 2019
878
800 Amor Condo 24.1k 92% Completed 2024
Pakuwon Residences Bekasi
600 Bella Condo 25.9k 28% Final Stage 2024
2
385 Dolce Vista Condo 24.0k 10% Structure works 2026
400 759 331 2
751 718
200 464 179 227 Pakuwon Center Office 10.4k 97%3 Completed 2018
151 158 Tunjungan City One Icon Condo 57.8k 85% Completed 2018
-
2021 2022 2023 2024 1Q 2025 1Q 2024 Pakuwon Tower Office 27.7k 44%3 Completed 2019
(Rp bn) Amor Condo 48.5k 98% Completed 2021
Vat Incentives Pakuwon City
/Total 47% 18% 59% 59% 67% Bella Condo 31.2k 61% Completed 2024
1,700 1,554
1,500
1,500 Anderson Condo 57.1k 96% Completed 2018
1,342
1,300 Benson Condo 53.7k 99% Completed 2020
243
1,100 701
924
Pakuwon Mall La Viz Condo 32.2k 98% Completed 2021
900 Clayson Condo 57.5k 26% Foundation 2027
700 Lancaster Condo 33.8k 34% Foundation 2027
500 1,099 Source: Company data as of Mar 31, 2025
385
798 331 Notes:
300 630 1 Social restriction (PSBB&PPKM)
194 257
2 VAT incentives from the regulatory
100 137 129 3 As % of saleable area, excluding approximately 50–60% of the area set aside for lease
-100 2022 2023 2024 1Q 2025 1Q 2024
VAT Incentive
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Mortgage Strongly Supported Presales
Presales per Payment Method Presales per Unit Price
6% 5% 7%
27% 28% 20% 11% 14%
26% 27%
52% 35%
64% 70%
35% 55%
56% 53% 65% 54% 23%
33% 21% 16%
30% 25% 16% 31%
17% 19% 15% 8% 4% 16% 15%
2021 2022 2023 2024 1Q 2025 2021 2022 2023 2024 1Q 2025
<IDR 1 bn/unit IDR 1-2 bn/unit IDR 2-5 bn/unit >IDR 5 bn/unit
Cash Mortgage Installment
Attractive interest rate and easier approval by Banks supported Presales were strongly driven by lower-middle to upper-
the high proportion of sales with mortgage middle income acquiring units from Rp2bn to Rp5bn
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Section 2 Financial Highlights
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Results Summary
(Rp bn unless otherwise stased) 1Q 2025 1Q 2024 % Growth Comments
Revenue 1,555 1,530 2%
Recurring revenue 1,322 1,201 10% Increased primarily due to malls revenue
Development revenue 233 329 -29% Decreased primarily due to residential revenue recognition
Gross Profit 857 852 1%
Gross Profit Margin(%) 55% 56%
EBITDA 834 833 0%
EBITDA Margin (%) 54% 54%
Net Income for the Period1 603 549 10%
Net Income Margin (%) 39% 36%
Net Income astributable to Owners1 506 459 10%
Net Income Margin(%) 33% 30%
Earning Per Share 1 (in Full Rupiah)
Basic 10.51 9.52 10%
Notes:
1 Adjusted for forex gain (loss) of (Rp118bn) in 1Q 2025, (Rp128bn) in 1Q 2024, and loss of investment of (Rp88bn) in 1Q 2025
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Strong Financial Position And Prudent Balance Sheet
Ample of cash and cash equivalents to support existing, future and opportunistic land and operating assets
(Rp bn unless otherwise stased) 1Q 2025 FY 2024 Growth Comments
Cash and Cash Equivalents 9,536 9,154 4.17% Increased mainly from retail leasing and hotels revenue
Total assets 36,103 35,371 2.07% Increased from cash and cash equivalents and inventory
Total Equity 25,166 24,742 1.71% Increased in net income
Total Debt 6,635 6,465 2.64% IDR weaken from Rp 16,162/1 USD in 2024 to Rp 16,588/1 USD in 1Q 2025
Debt to Equity Rasio 26.37% 26.13%
Net Debt to Equity Rasio -11.53% -10.87%
Debt to assets Rasio 18.38% 18.28%
Net Debt to assets Rasio -8.03% -7.60%
CAPEX Budget 2025 CAPEX Realization 1Q2025
Land & operating
assets acquisition
Land & operating assets Condominiums 1%
acquisition 28%
25%
Condominiums
42%
2,482 Hotels 237
(Rp bn) 49% (Rp bn)
Malls
Hotels 16%
31%
Malls 10
8%
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Debt Maturity Profile
Healthy debt profile with average debt maturity of 3.13 years and average cost of debt 5.49% p.a. 1
(Rp bn) 17% 0% 0% 83%
6,000
Rp (Bn)
5,000
4,000
3,000
5,531
2,000
1,000
1,1042
0
2025
2Q25 2026 2027 2028
Notes: Senior Unsecured Notes 2028 of US$ 333.4m (US$
(fully333.4m-hedged)
hedged)
1 Interest cost of 5.49% (including hedging premium)
2 Tender Offer payment USD 66,555,000, repurchased at 97.05%
US$ 80.4m Lower-upper Strike : Rp15,000-Rp16,500
US$ 125m Lower-upper Strike : Rp15,500-Rp17,000
US$ 64m Lower-upper Strike : Rp16,000-Rp17,500
US$ 64m Lower-upper Strike : Rp16,000-Rp18,000 11
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Section 3 Projects Development
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Assets Growth
Continue expanding organically to bolster income growth
Retail Leasing NLA Growth (sqm) Hotel Room Growth (rooms) 13%
12%
1% 2% 31%
16%
24%
9%
7% 25%
18%
10% 5,265
1,145k
+35%
848K +132%
2,273
Current NLA Kota Batam Semarang Gandaria IKN Plan 2029 Current PCM Bekasi Kota Batam Semarang PM IKN Plan 2030
Kasablanka Rooms Kasablanka
Office Leasing NLA Growth (sqm)
11%
155k +11% 172k
Current NLA Gandaria Office 2 Plan 2030 13
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Ongoing Development – Bekasi Superblock
Type: Mixed use
Total Land size: 3.6 ha
Land size Phase 1: 2.7 ha
Project value: IDR 2.6tn
Retail: 45K sqm NLA, opened in Nov
2024
Hotel: 4* hotels with 166 rooms in
operation and 242 rooms due
to open in 2H2025
Residential: 4 tower-100K sqm GSA
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Target completion: 2024-2027
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Ongoing Development – Pakuwon City Mall (Phase 3)
Type: Mixed use
Land size: 1.1 ha
Project value: IDR 1.2tn
Retail: 21K sqm NLA, opened in Oct
2024
Hotel: 4*, 233 rooms open in 2025
Residential: 2 tower -52K sqm GSA
Target completion: 2024 -2026 15
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Ongoing Development – Pakuwon Mall (Phase 5)
Type: Mixed use
Land size: 2.8 ha
Project value: IDR 2tn
Hotel: 4*, 266 rooms
Residential: 3 tower-141K sqm GSA
Target completion: 2027-2029 16
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Future Development – Kota Kasablanka Extension (Phase 4)
Type: Mixed use
Land size: 3.3 ha
Project value: IDR 3.7tn
Retail: 56K sqm NLA
Hotel: 5*, 560 rooms
Residential: 2 tower-96K sqm GSA
Target Completion: 2028-2029 17
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Future Development – Batam (Phase 1)
Type: Mixed use
Total Land size: 12.4 ha
Land size phase 1: 7.3 ha
Project value: IDR 4.1tn
Retail: 78K sqm NLA
Hotel: 4* and 5*, 536 rooms
Residential: 126K sqm GSA
Target completion: 2029-2031 18
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Future Development – Semarang (Phase 1)
Type: Mixed use
Total Land size: 22.7 ha
Land size phase 1: 12.7 ha
Project value: IDR 3.1tn
Retail: 134K sqm NLA
Hotel: 4* and 5*, 694 rooms
Residential: 103K sqm GSA
Target completion: 2028-2030 19
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Future Development – Gandaria City Extension (Phase 2)
Type: Mixed use
Land size: 1.1 ha
Project value: IDR 2.5tn
Retail: 12K sqm NLA
Office: 35K sqm GSA
Residential: 62K sqm GSA
Target completion: 2029-2030 20
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Future Development – IKN (Phase 1)
Type: Mixed use
Total Land size: 7.2 ha
Land size phase 1: 1.9 ha
Project value: IDR 651bn
Retail: 16K sqm NLA
Hotel: 4*, 295 rooms
Target completion: 2026-2027 21
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Pakuwon City Township
Location: East Surabaya
Launch: 1994
Landbank: 260 ha
Market Segment: Middle to middle-high
House Price Range: Rp1.7bn to Rp11bn
Average Unit Price: Rp4.6bn
Others: Latest cluster Grand
Cayman 22
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Grand Pakuwon Township
Location: West Surabaya
Launch: 2013
Landbank: 157.2 ha
Market Segment: Middle to middle-high
House Price Range: Rp908m to Rp6.2bn
Average Unit Price: Rp1.9bn
Others: Latest cluster Gladstone
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Section 4 Sustainability Achievement
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Sustainability Achievements
Total electrical energy saved in 2024 equals to 1.609,07 TonCO2e or 37,247 trees planted
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Sustainability Achievements
All 6 office buildings and 2 malls have been certified Green Building
Green Building Sqm
Kota Kasablanka Office 88 (Gold) 57.367
Prudential Tower (Gold) 41.783
Gandaria 8 Office (Gold) 58.685
Pakuwon Tower Jakarta (Gold) 80.227
Pakuwon Center Surabaya (Gold) 20.198
Pakuwon Tower Surabaya (Gold) 51.516
Kota Kasablanka Mall (Edge) 293.776
Tunjungan Plaza 6 Mall (Edge) 25.736
Total Green Building 629.287
Total Area of Pakuwon Jati Buildings 3.926.227
% Green Building 16%
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Solar Panel
PLTS Gandaria City PLTS Pakuwon Mall Yogya
Total Installed Area (m2) 8,935
Capacity (KWp) 1,718.61
Electricity Generated (kWh/year) 1,989,586
GHG Avoidance (TonCO2e/year) 1,258.21
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PLTS Tunjungan Plaza PLTS Royal Plaza
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Thank You!
For more information
Email : corpsec@pakuwon.com
Website : www.pakuwonjati.com
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