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20250326_SSIA_Laporan Informasi dan Fakta Material_31871385_lamp2.pdf
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Press Release – 26 March 2025
Consistent Success: SSIA Engines Performed Strongly in FY24
FY24 Highlights
• PT Surya Semesta Internusa Tbk (SSIA) posted strong accomplishments in FY24
across all three key business segments (property, construction, and hospitality).
• SSIA FY24 net income rose by 32.6% YoY to Rp234.2 billion from Rp176.6 billion in
FY23. Driven by property net income increased by 154.8% YoY.
• The consolidated net profit FY24 (audited) excludes the Rp97.4 billion gain1 from
the sale of PT Suryacipta Swadaya (SCS) shares owned by SSIA which recognized
directly in FY24 equity.
• PT Suryacipta Swadaya (SCS), the Company's main business, achieved exceptional
results in the property sector. In FY24, SCS closed 162.4 hectares (Rp2,001.7 billion
in value) of marketing sales from Suryacipta Karawang and Subang Smartpolitan
inventory land, a 704.2% increase from FY23 sales of 20.2 hectares (Rp390.8 billion
in value).
• SSIA's construction business unit, PT Nusa Raya Cipta Tbk (NRCA), secured new
contract for Rp3,707.5 billion in FY24, up 26.8% from Rp2,924.7 billion in FY23. As a
result, NRCA's order book totaled Rp3,432.8 billion at the end of 2024.
• Umana Bali, LXR Hotels & Resorts held a three-day grand opening ceremony on
15-17 November 2024. Meanwhile, Uma Beach House, part of LXR Hotels &
Resorts' Umana Bali, officially opened its doors in December 2024.
• The Melia Bali Hotel commenced its renovations on 10 October 2024, which will
reopen at the end of 2025 under the new brand, Paradisus by Melia Bali.
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On 21 June 2024, the Extraordinary General Meeting of Shareholders (EGMS)
of SSIA has approved and signed the Deed of Share Sale and Purchase and Deed
of the Shareholders Resolution of SCS, for the issuance of new shares with a
total value of Rp3.1 trillion to PT Puri Bumi Lestari (PBL).
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PT Surya Semesta Internusa Tbk (“SSIA”) FY24 Financial Highlights
• SSIA posted Rp6,251.9 billion in consolidated revenue for 2024. Revenue grew by
37.8% from Rp4,537.7 billion booked in FY23. This increase was driven primarily by a
robust performance in the three main segments. Property revenue increased by
165.0% (or Rp1,409.1 billion), meanwhile revenue in the SSIA construction and
hospitality business segments increased by 16.5% (or Rp476.6 billion) and 4.2% (or
Rp38.1 billion) respectively.
• FY24 gross profit increased by 32.5% YoY to Rp1,759.0 billion, up from
Rp1,327.2 billion in FY23, driven by 70.7% increase (or Rp330.9 billion) in
property gross profit, 20.7% increase (or Rp65.7 billion) in construction gross
profit and 5.8% increase (or Rp33.7 billion) in hospitality gross profit.
• FY24 EBITDA increased by 44.9% YoY to Rp1,051.7 billion from Rp726.0 billion in
FY23, as result of increases in property EBITDA of 76.3% (or Rp281.7 billion) and
construction EBITDA of 26.7% (or Rp54.7 billion).
• As stated previously, SSIA achieved a consolidated net profit of Rp234.2 billion in
FY24, from a net profit of Rp176.6 billion in FY23.
• The Company cash position in FY24 was Rp2,633.8 billion, a 116.1% increase
from Rp1,219.0 billion in FY23.
• Interest-bearing debt was Rp796.5 billion in FY24, a 68.5% decrease from
Rp2,526.4 billion in the previous year. In FY24, the debt/equity (gearing) ratio was
10.0%.
Consolidated Financial Statements
(in billion Rp)
FY24 FY23 YoY
Revenues 6,251.9 4,537.7 37.8%
Property 2,263.2 854.0 165.0%
Construction 3,362.5 2,885.9 16.5%
Hospitality 943.4 905.2 4.2%
Others 17.1 11.4 49.1%
Gross Profit 1,759.0 1,327.2 32.5%
EBITDA 1,051.7 726.0 44.9%
Net Income 234.2 176.6 32.6%
Comprehensive Income 215.8 159.7 35.2%
EBITDA Margin 16.8% 16.0% 0.8ppts
Net Income Margin 3.7% 3.9% -0.2ppts
FY24 FY23 YoY
Cash and Cash Equivalents 2,633.8 1,219.0 116.1%
Total Assets 10,367.4 8,416.8 23.2%
Interest Bearing Debt 796.5 2,526.4 -68.5%
Total Liabilities 2,373.7 3,973.3 -40.3%
Non-Controlling Interest 2,388.6 436.4 447.3%
Equity 5,605.0 4,007.0 39.9%
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Business Segment Analysis
FY24 Business Segments
in billion Rp Property Construction Hospitality Total
Revenues 2,263.2 3,362.5 943.4 6,251.9
Segment percentage 34% 51% 14% 100%
Gross Profit 799.0 382.5 616.4 1,759.0
Segment percentage 44% 21% 34% 100%
EBITDA 651.2 259.2* 223.4 1,051.7
Segment percentage 57% 23% 20% 100%
Gross Profit Margin 35.3% 11.4% 65.3% 28.1%
EBITDA Margin 28.8% 7.7% 23.7% 16.8%
*Includes loss from JO Rp3.7 billion
FY23 Business Segments
in billion Rp Property Construction Hospitality Total
Revenues 854.0 2,885.9 905.2 4,537.7
Segment percentage 18% 62% 19% 100%
Gross Profit 468.0 316.8 582.7 1,327.2
Segment percentage 34% 23% 43% 100%
EBITDA 369.5 204.5* 241.4 726.0
Segment percentage 45% 25% 30% 100%
Gross Profit Margin 54.8% 11.0% 64.4% 29.2%
EBITDA Margin 43.3% 7.1% 26.7% 16.0%
*Includes loss from JO Rp3.8 billion
Property
• The SSIA property unit, which includes industrial estate revenue, maintenance fees,
commercial rental, and residential, earned Rp2,263.2 billion in FY24, a 165,0%
increase from Rp854.0 billion in FY23.
• PT Suryacipta Swadaya (SCS), the Company's main business, reported revenue of
Rp2,193.6 billion in FY24, up 220.4% from Rp684.8 billion in FY23. Mostly due to a
384.2% increase in land sales accounting booked (Rp1,868.4 billion in FY24 vs
Rp385.8 billion in FY23).
Construction
• PT Nusa Raya Cipta Tbk ("NRCA"), SSIA's construction unit, reported consolidated
revenue of Rp3,372.5 billion for the full year 2024. Its revenue increased by 16.5%
YoY from Rp2,895.5 billion. It also earned Rp81.6 billion in net profit from January to
December 2024, down by 18.0% from Rp99.5 billion in FY23.
• Main projects obtained in FY24 were Dipo Center Jakarta, Subang Smartpolitan
Infrastructure, Condotel Cihampelas Walk Bandung, Creativo Tower Bintaro
Tangerang, Elevee Penthose & Residence Alam Sutera Tangerang, Design & Build
Housing a New Townsite Amman Mineral West Nusa Tenggara, and Melia Hotel Bali
Renovation.
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Hospitality
In FY24, SSIA's hospitality business unit generated Rp943.4 billion, a 4.2% rise
from Rp905.2 billion in FY23. In 2024, the Melia Bali Hotel was only open until
early October 2024.
• The Gran Melia Jakarta (GMJ) occupancy rate was 62.7% in FY24, up from 55.6% in
FY23. While the average room rate (ARR) for FY24 was around Rp1,124K, down
from Rp1,156K in FY23.
• The occupancy rate at Melia Bali Hotel (MBH) increased to 81.0% in 9M24 from
80.4% in FY23. MBH ARR increased to Rp2,456K in 9M24 from Rp2,061K in
FY23.
• The occupancy rate at Umana Bali, LXR Hotels & Resorts (LXR) was 47.5% in FY24, up
from 20.6% in FY23. The ARR for FY24 was Rp8,903K, up from Rp7,888K in FY23.
• BATIQA Hotels' FY24 occupancy rate was 72,5%, with an ARR of Rp371K. BATIQA's
ARR for FY23 was Rp364K, with a 67.0% occupancy rate.
• 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 FY24, Travelio achieved a c. 20%
increase in Gross Merchandise Value (GMV) YoY and aims to grow c. 20% by the
end of 2025. Ending December 2024, Travelio, as the largest private residence
management platform in Indonesia, is exclusively managing c. 15,500 apartment
units and is expected to reach over 17,000 units.
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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 Head of Investor Relations & Corporate Communications
erlin.budiman@suryainternusa.com
Office: +62215262121
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