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PT Lippo Karawaci Tbk
Public Expose - 2024
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Forward looking statements
Certain statements in this release are or may be forward-looking statements. These statements typically contain words such as "will",
"expects" and "anticipates" and words of similar import. By their nature, forward looking statements involve a number of risks and
uncertainties that could cause actual events or results to differ materially from those described in this release.
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Key Investment Highlights
1
Strong achievement in marketing sales
that is expected to continue to grow in
coming years, generating positive cash Real Estate
flows. 2
44%
Continuous growth driven by high
complexity clinical programs made Siloam to
Healthcare stay competitive in the market.
3 44%
Hotel, malls and ancillary business
assets that are profitable and supplement
the main business by providing regular
dividend income. Lifestyle
12%
*size of circle represents the revenue contribution of each segments for FY24
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Business Operational Area
as of 31 December 2024
Townships Hospitals
Lippo Village : 374 ha landbank Total Hospitals : 41
Lippo Cikarang : 486 ha landbank Total Clinics : 67
Tanjung Bunga : 344 ha landbank Locations : 23 provinces
GPs, Specialists and Dentists : 4,329
Superblock Nurses and Medical Supports : 8,901
Kemang Village, St Moritz Puri, Holland Village
Malls
Total managed malls : 59
Locations : 17 provinces
NLA : 1.67 million m2
Annual Visitors : 300+ visitors
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Our Company
Leader in Fully Integrated Estate Operations – Scale, Widespread presence in 56 cities and 26 provinces
Integration and Financial Discipline: across Indonesia
Total Revenue: IDR 11.5n in FY24
Revenue breakdown: 44% Healthcare, 44% Real
Total Assets: IDR 53.8tn in FY24
Estate, 12% Lifestyle business (as of FY24)
Real Estate Healthcare Lifestyle
Large landbank and strong growth in Investment in the largest hospital Malls, hotels, and ancillary business
marketing sales that is expected to operator in Indonesia, delivering clinical assets that are profitable and
remain elevated in coming years, excellence and access to healthcare supplement the main business by
generating positive cashflow providing regular dividend income
End-to-end revenue streams: Complete healthcare service offerings: Wide range of business portfolio:
▪ Real Estate Development ▪ Hospitals ▪ Malls
▪ Township Management ▪ Clinics ▪ Hospitality
▪ Water treatment and other supporting ▪ Digital healthcare, homecare, and other ▪ Food catering, parking, and other
services supporting services ancillary businesses
80+ property development projects for sale 41 hospitals 59 managed malls
374 ha landbank in Lippo Village 73 clinics 10 hotels
486 ha landbank in Lippo Cikarang 23 provinces 17 provinces
344 ha landbank in Tanjung Bunga 4,263 GPs, specialists, dentists 1.67 million m2 mall NLA
191 ha landbank in various locations 8,897 nurses and medical professionals 300+ millions annual mall visitors
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Financial Updates
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LPKR Financial Highlights
LPKR Financial Statements (in IDR billion) Business Segment Performance (in IDR billion)
P&L Highlights (in IDR bn) FY24 FY24 YoY Changes Gross profit by segment (in IDR bn) FY24 FY24 YoY Changes
Total Revenues 11,505 16,845 -32% Total Revenues 11,505 16,845 -32%
COGS (6,554) (9,479) -31% Real Estate Development 5,032 4,398 14%
Gross Profit 4,951 7,366 -33% Healthcare 5,053 11,191 -55%
Operating Expenses (3,183) (4,539) -30% Lifestyle 1,420 1,257 13%
Operating Profit 1,768 2,827 -37% COGS (6,554) (9,479) -31%
Other Income & Expenses - Net 18,725 255 7258% Real Estate Development (3,125) (2,502) 25%
Financial Charges - Net (1,246) (1,674) -26% Healthcare (2,996) (6,574) -54%
Income Before Tax 19,248 1,408 1267% Lifestyle (433) (403) 8%
Tax Expenses (521) (754) -31% Gross Profit 4,951 7,366 -33%
Profit for the Period 18,727 654 2765%
Non Controlling Interest (19) 50 -138%
Profit for the Period Attributable to Owners18,746
of the Parent 604 3006%
• LPKR posted Revenue of IDR 11.5tn, lower vis-à-vis ▪ Revenue for Real Estate increased 14% YoY to IDR
last year due to deconsolidation of PT Siloam 5.03tn, supported by timely handovers of residential
International Hospitals Tbk in June 2024 and commercial units, strategic land plot sales, and
• Total NPAT reached IDR 18.7tn, a significant leap from continued demand for cemetery plots at San Diego
IDR 50bn in FY23, supported by stronger operational Hills.
performance and disciplined liabilities management ▪ Revenue for Lifestyle primarily driven by its mall and
hotel businesses, reported solid financial performance
totaling IDR 1.42tn.
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Real Estate Pillar
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Real Estate Business Highlights
Property
Marketing sales Financial Key takeaways and
development New projects in FY24
performance performance going forward
projects sold in FY24
Landed residential: ▪ LPKR achieved Lippo Karawaci: ▪ Real Estate FY24 ▪ We remained
111 projects FY24 marketing 1) Blackslate Series revenue increased dedicated to
sales of IDR6.01tn, by 15% to IDR innovating and
Low-rise residential: reaching 112% of Lippo Cikarang: 5.03tn driven by expanding our
5 project FY24 marketing 1) The Hive @Neo timely project offerings for first-
Patio
sales target handovers and land time homebuyers by
Mid-rise residential: plot sales. introducing new
1 project ▪ Landed housing affordable housing
continued to be the ▪ EBITDA increased options in Park
High-rise: primary driver, by 1% YoY to Serpong and Lippo
22 projects accounting for 64% IDR 1.1 tn in FY24 Cikarang
of the total marketing with 22% EBITDA Cosmopolis
Shophouses: sales achievements margin
25 projects in FY24.
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FY24 Marketing Sales Highlights
Historical marketing sales (in IDR bn) Land bank
▪ ~1,000 hectares of land bank in Jakarta, Greater Jakarta and
Makassar translate to roughly IDR 155tn in gross
6,011 development value.
5,122 5,375
4,964 4,766
▪ At our current run-rate, this translates to 25+ years of
2,670 remaining land bank.
1,846 112%
1,598
Market Value
Ownership (%) Land Area (ha)
(USD mn)
2018 2019 2020 2021 2022 2023 2024 FY24 Lippo Village 100% 374 1,382
Target Lippo Cikarang 84% 486 1,554
Tanjung Bunga 62.7% 344 70
FY24 Marketing sales results vs target by project (in IDR bn)
San Diego Hills 100% 69 307
Outside Lippo Village 98% 123 526
120% 101% 94% 81% 98% 114% 112% - Puncak 100% 29 77
- Sentul 100% 19 50
6,011 - Holland Village Manado 100% 6 15
5,375
- Prapanca 70% 7 137
2,992 2,500 - Kemang 100% 6 115
1,643 1,435 - St. Moritz 100% 3 47
494 490 188 200 202 250 491 500 - Others 100% 54 87
LK LK LK San Diego Land plot Lippo Total Total 1,395 3,839
Residential Commerical High rise Hills Cikarang Note:
inventory Reported landbank in Lippo Village area excludes golf area amounting to 63.4ha valued at USD 741mn. All
values as of 30 Dec 2024 and in USD using the average exchange rate of 1 USD = IDR 16,162
FY24 results FY24 target % of results vs target
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FY24 Marketing Sales Highlights
FY24 Marketing sales breakdown in Lippo Karawaci FY24 Marketing sales breakdown in Lippo Cikarang
Marketing sales in Lippo Karawaci were mainly driven by landed housing, Marketing sales in Lippo Cikarang were mainly driven by landed housing,
accounting for 64% of the total, dominated by the Cendana Homes series and accounting for 48% of the total, dominated by the Cendana and XYZ Livin series.
XYZ Livin series.
Amount (in IDR bn) Volume (in units) Amount (in IDR bn) Volume (in units)
106 150
(3%) (11%)
188 248 20
494 (5%) (6%) Landed housing 355 (1%) Landed housing
(13%) 50 67 (22%) 87 26
(1%) (2%) Shophouse (6%) (2%) Low-rise residential
794
Mid-rise residential (48%) High-rise inventory
High-rise inventory 445 20 Industrial
2,942 (27%) (1%) 1,098
(80%) 3,751 29 (80%) Commercial
(90%) (2%)
FY24 Marketing sales by payment mode (excld. land plot) Residential product sales volume by unit price
Mortgages constituted 69% of the overall marketing sales in FY24. We ~96% of homes sold were priced at IDR 2bn or less in FY24.
continue to see a strong demand in affordable housing, supported by high
mortgage utilization, implying high end-users.
FY24 FY23 FY24 FY23
Mortgage 4% 3% <IDR 1bn
13% 17% 0% 0%
Installment IDR 1-2bn
26%
17% Cash IDR 2-5bn
42%
21% 54% >IDR 5bn
62%
69% 70%
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Park Serpong New Product Development
Cendana Suites Blackslate Homes
Typical size and Starting Price: Typical size and Starting Price:
▪ Type 5 (67.5m2 land / 78.1m2 ▪ Type Standard (112m2 land /
building) price at IDR 943mn 125.5m2 building) price at IDR
▪ Type 5.5 (79.8m2 land / 88.8m2 1,808mn
building) price at IDR 1,069mn
XYZ Livin Q Livin
Typical size and Starting Price: Typical size and Starting Price:
▪ Z5 (67.5m2 land / 78.1m2 building) ▪ Q12 (36m2 land / 35m2 building)
price at IDR 365mn price at IDR 415mn
▪ X6 (62.5m2 land / 64.6m2 building) ▪ Q15 (39.6m2 land / 36.7m2
price at IDR 698mn building) price at IDR 443mn
▪ Q22 (42.9m2 land / 48.6m2
building) price at IDR 531mn
▪ Q23 (46.8m2 land / 52.5m2
building) price at IDR 560mn
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Healthcare Pillar
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Siloam Financial Highlights
Revenue¹ (in IDR bn)
Revenue1 Underlying EBITDA* Quarterly Revenue
Annual Revenue
IDR9.45tn IDR2.76tn +13%
+16.9%
in FY24 8,663 9,455 2,403 2,392
7,637 2,341 2,319
in FY24 7,393 2,287 2,289
5,758
2,047 2,040
9.1% 3.2%
FY20 FY21 FY22 FY23 FY24 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24
FY24 vs FY23 FY24 vs FY23
Underlying EBITDA*
29.2% 20.8% 25.7% 26.8% 30.8% 29.2% 29.5% 29.7% 32.4% 31.4% 30.2% 29.7% 29.8% 27.1%
EBITDA Margin
Annual EBITDA Quarterly EBITDA
+12.0%
+23%
2,670 2,757 741 720 716
Underlying Net Operating Cash Flow 1,962 1,984
603 607
706 688
647
1,197
Profit*
IDR2.33tn
IDR1.26tn in FY24
FY20 FY21 FY22
Underlying Net Profit*
FY23 FY24 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24
in FY24
0.9% 11.1% 2.2% 9.2% 9.6% 14.4% 13.3% 12.6% 12.7%
Quarterly Net Profit
16.1% 15.9% 14.3% 13.4% 13.9% 11.7%
Annual Net Profit
FY24 vs FY23 FY24 vs FY23 +9.3%
+78%
1,247 1,259 367 363 334 333
311 281
700 710 257 259
125
1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24
FY20 FY21 FY22 FY23 FY24
*Underlying EBITDA and Net Profit without non-cash & non-operational adjustments
% Margin
¹ Revenue 2020 onwards referring to non-specialist revenue
*Underlying EBITDA and Net Profit without non-cash & non-operational adjustment, amounting write-off IDR 309bn in 1Q24
FY2024 Earnings Call Presentation
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Siloam Payer Mix
% Contribution to Total Revenue FY2023 vs FY2024
OPE Corp & Ins BPJS
18.3% 18.2%
32.5% 32.0%
Corporate and Insurance revenue
contribution to total revenue increased from
49.2%
49.2% to 49.8%
49.8%
FY23 FY24
Payer Group Contribution to Total Revenue (IDR bn)
+10.5% +22.1% +6.0%
3,645 3,905 5,490
6,075 2,327
2,055 2,228
3,260 3,115 +1.0% 4,662 +11.6% 1,762
2,615 1,742 -5.1%
3,743
2,733
977 987 1,380 1,541 587 557
2020 2021 2022 2023 2024 4Q23 4Q24 2020 2021 2022 2023 2024 4Q23 4Q24 2020 2021 2022 2023 2024 4Q23 4Q24
Private (OPE) Corp + Ins BPJS
FY2024 Earnings Call Presentation
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Siloam Cash Flow Highlights
Operating Cash Flow
(in IDR bn)
+29.0%
2,330
2,033 2,098
1,688
1,337
652
2019 2020 2021 2022 2023 2024
Investing Cash Flow Financing Cash Flow Cash Balance
(in IDR bn) (in IDR bn) (in IDR bn)
+25.3% +27.1%
1,819 1,915
1,634
1,427 +103.8%
1,046 1,186 1,040
740 844 908
529 578 462 448 531
281 314
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2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024
FY2024 Earnings Call Presentation
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Lifestyle Pillar
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Malls and Hotels Financial & Operational Highlights
Malls revenue2 Hotels revenue2
+16% +15%
+22% +11%
682 497
446
561 373
505
FY22 FY23 FY24
FY22 FY23 FY24
Consistent YoY growth of malls visitors¹ Hotels Occupancy
(Average monthly visitors; in mn visitors)
+7% +1%
+5% 0%
10.5 67% 69% 69%
10.0
9.1
FY22 FY23 FY24 FY22 FY23 FY24
¹ LMIRT malls only ² Revenue amount is based on non-consolidated figure (gross of intercompany eliminations)
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THANK YOU
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Investor Relations
PT Lippo Karawaci Tbk
Head of Investor Relations
Dr. Randi Bayu Prathama
Email: Randi.Prathama@lippokarawaci.co.id
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Names mentioned 5 people and organisations named in the text · linked when the evidence is strong
unresolved
org
PT Siloam
p.7
unresolved
org
International Hospitals Tbk
p.7
unresolved
person
Dr. Randi Bayu Prathama
p.20
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