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20250507_SSIA_Laporan Informasi dan Fakta Material_31883398_lamp2.pdf
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Press Release – 5 May 2025
SSIA REPORTS 1Q25 EARNING RESULTS, DRIVEN BY PROPERTY &
CONSTRUCTION SECTORS
PT Surya Semesta Internusa Tbk (“SSIA”) 1Q25 Financial Highlights
• SSIA announced its consolidated financial results for the first quarter of 2025,
underscoring the Company’s strategic focus on its core property and construction
businesses amidst temporary challenges in the hospitality sector.
• SSIA reported consolidated revenue of Rp1,068.2 billion for the first quarter of 2025
(1Q25), reflecting a modest decrease of 2.1% compared to Rp1,091.6 billion
recorded in the same period last year (1Q24). The property segment showed a
moderate growth with a 2.6% increase in revenue to Rp163.8 billion. The
construction segment delivered a strong performance with a 24.5% increase in
revenue, reaching Rp887.6 billion. Revenue from the hospitality segment stood at
Rp99.6 billion, decreased by 57.3% year-on-year, mainly due to the temporary
closure of the Melia Bali Hotel for renovations starting in October 2024.
• Gross profit in 1Q25 declined by 35.0% year-on-year to Rp199.5 billion, compared to
Rp307.0 billion in 1Q24.
• SSIA recorded an EBITDA of Rp36.3 billion in 1Q25, down from Rp147.1 billion in 1Q24. This
decline was primarily driven by the temporary downturn in the hospitality segment, which
saw a reduced contribution due to ongoing renovation activities. The segment’s EBITDA
decreased by Rp90.0 billion year-on-year.
• The Company reported a consolidated net loss of Rp21.7 billion in 1Q25, compared to a net
loss of Rp14.9 billion in the same period last year.
• Although the hospitality segment recorded a temporary decline due to planned
renovations, SSIA views this as a strategic investment to upgrade its hotel portfolio
and capture higher value in the medium term.
• SSIA’s strong liquidity position, with Rp2,196.0 billion in cash, and prudent financial
management (gearing ratio of 12.6%) continue to underpin its stability and growth
potential. The Company’s performance in 1Q25 reaffirms its disciplined approach to
capital allocation and its readiness to seize growth opportunities aligned with
investor interests.
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Consolidated Financial Statements
(in billion Rp)
1Q25 1Q24 YoY
Revenues 1,068.2 1,091.6 -2.1%
Property 163.8 159.7 2.6%
Construction 887.6 713.1 24.5%
Hospitality 99.5 233.2 -57.3%
Others 0.0 0.0
Gross Profit 199.5 307.0 -35.0%
EBITDA 36.3 147.1 -75.3%
Net Income -21.7 -14.9 -45.8%
Comprehensive Income -22.6 -13.2 -71.3%
EBITDA Margin 3.4% 13.5% -10.1ppts
Net Income Margin -2.0% -1.4% -0.6ppts
1Q25 FY24 QoQ
Cash and Cash Equivalents 2,196.0 2,633.8 -16.6%
Total Assets 10,746.3 10,367.4 3.7%
Interest Bearing Debt 1,004.0 796.5 26.0%
Total Liabilities 2,758.8 2,373.7 16.2%
Non-Controlling Interest 2,419.6 2,388.6 1.3%
Equity 5,567.9 5,605.0 -0.7%
Business Segment Analysis
1Q25 Business Segments
in billion Rp Property Construction Hospitality Total
Revenues 163.8 887.6 99,5 1,068.2
Segment percentage 14% 77% 9% 100%
Gross Profit 69.2 93.3 46,5 199.5
Segment percentage 33% 45% 22% 100%
EBITDA 25.5 66.7* -32,0 36.3
Segment percentage 42% 111% -53% 100%
Gross Profit Margin 42.2% 10.5% 46.7% 18.7%
EBITDA Margin 15.6% 7.5% -32.2% 3.4%
*Includes income from JO Rp34 million
1Q24 Business Segments
in billion Rp Property Construction Hospitality Total
Revenues 159.7 713.1 233.2 1,091.6
Segment percentage 14% 64% 21% 100%
Gross Profit 80.1 78.3 149.1 307.0
Segment percentage 26% 25% 48% 100%
EBITDA 56.4 49.5* 57.9 147.1
Segment percentage 34% 30% 35% 100%
Gross Profit Margin 50.1% 11.0% 63.9% 28.1%
EBITDA Margin 35.3% 6.9% 24.8% 13.5%
*Includes income from JO Rp14 million
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Property
• The SSIA property unit, which includes revenue from industrial estate, maintenance
fees, commercial rentals, and residential properties, earned Rp163.8 billion in 1Q25,
a 2.6% increase from Rp159.7 billion in 1Q24.
• PT Suryacipta Swadaya (SCS), the Company’s main business unit, reported revenue
of Rp162.3 billion in 1Q25, up 10.5% from Rp146.8 billion in 1Q24. This growth was
mainly driven by a 16.6% increase in land sales accounting booked (Rp78.9 billion in
1Q25 vs. Rp67.6 billion in 1Q24).
• In 1Q25, SCS closed marketing sales of 4.0 hectares of inventory land at Suryacipta
Karawang, valued at Rp88.0 billion, a 31.4% increase from 1Q24, which saw 3.0
hectares sold for Rp57.1 billion.
• As of 1Q25, SCS held a land sales backlog of Rp325.4 billion, representing 24.2
hectares.
Construction
• PT Nusa Raya Cipta Tbk (NRCA), SSIA’s construction subsidiary, reported
consolidated revenue of Rp889.5 billion in 1Q25, marking a 24.4% year-on-year
increase from Rp715.0 billion. Net profit rose by 46.1% to Rp42.0 billion, up from
Rp28.8 billion in 1Q24.
• NRCA secured new contracts worth Rp687.8 billion in 1Q25, a 49.1% decrease from
Rp1,351.1 billion in 1Q24.
• Key projects acquired in 1Q25 include the New Plant AHM in Deltamas Cikarang
Bekasi, infrastructure works at Subang Smartpolitan, structural work for Grand
Lucky Pekanbaru, the Parking Building & Campus Plaza E at Gunadarma Depok, and
the Holiday Inn Express in Bandung.
Hospitality
• SSIA’s hospitality business unit recorded revenue of Rp99.6 billion in 1Q25, a 57.3%
decline from Rp233.2 billion in 1Q24.
• The Gran Melia Jakarta (GMJ) had an occupancy rate of 37.1% in 1Q25, down from
62.6% in 1Q24. However, the average room rate (ARR) increased to Rp1,330K, from
Rp1,067K in 1Q24.
• Umana Bali, LXR Hotels & Resorts (LXR), reported an occupancy rate of 40.8% in
1Q25, up from 29.0% in 1Q24. Its ARR in 1Q25 was Rp8,995K, slightly down from
Rp9,191K in 1Q24.
• BATIQA Hotels achieved an occupancy rate of 63.5% in 1Q25 with an ARR of
Rp383K, compared to 64.3% occupancy and an ARR of Rp356K in 1Q24.
• SSIA’s digital platform, Travelio.com, an innovative online rental property
company that offers short, medium, and long-term rental options for apartments
and houses in 14 key cities around Indonesia. Supported by investment
companies Temasek Holding's Pavillion Capital in Singapore, Mirae Asset,
Samsung Ventures and Gobi Partners. In 1Q25, Travelio achieved a c.14%
increase in Gross Merchandise Value (GMV) YoY and aims to grow c.35% by the
end of 2025. Ending March 2025, Travelio, as the largest private residence
management platform in Indonesia, is exclusively managing 15,472 apartment
units and is expected to reach over 17,000 units by end of 2025.
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About PT Surya Semesta Internusa Tbk (SSIA)
SSIA, previously known as PT Multi Investments Limited, was established on 15 June 1971. The company name
was later changed to PT Surya Semesta Internusa (SSIA) in 1995. SSIA's main businesses are industrial estate &
real estate development, construction, and hospitality.
SSIA's investment portfolio is diverse, including Suryacipta City of Industry, Subang Smartpolitan, Edenhaus
Simatupang, Graha Surya Internusa (to be rebuilt as SSI Tower), Hotel Gran Melia Jakarta, Melia Bali Hotel,
Umana Bali, LXR Hotels & Resorts, and BATIQA Hotels.
For more than 50 years in the business, SSIA has strengthened its recognition and brand position as one of the
strongest development companies in Indonesia. Cementing its status as a leading company, SSIA listed its
shares on the Indonesia Stock Exchange and became a public company on 27 March 1997. For more
information, visit www.suryainternusa.com.
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For more information, please contact:
Erlin Budiman
VP of Investor Relations & Sustainability
erlin.budiman@suryainternusa.com
Office: +62215262121
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PT Suryacipta Swadaya
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PT Multi Investments Limited
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Indonesia Stock Exchange
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