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20240502_KPIG_Laporan Informasi dan Fakta Material_31633130_lamp1.pdf
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MNC Land’s Q1-2024
Financial Performace
Jakarta, May 2, 2024 – PT MNC Land Tbk (IDX: KPIG) recorded a net revenues of Rp352.1 billion in
Q1-2024, an increase of 7.2% year-on-year (yoy) from Rp328.4 billion in Q1-2023. The Company's
main revenue contributors were the hotel and resort segment, accounting for 53.7% of
total revenue, followed by property management and other services at 35.1%, office space rental
at 10.3%, and apartments and other properties at 0.9%. The property management and other
services segment showed significant growth of 25.8% yoy, from Rp98.3 billion in Q1-2023 to
Rp123.7 billion in Q1-2024, while the largest segment, the hotel and resort segment, increased
9.8% yoy compared to last year’s first quarter from Rp172.4 billion to Rp189.2 billion.
Q1-2024 Financial Highlights
in million Rupiah Q1-2024 Q1-2023
Profit and Loss
Net Revenues 352,115 328,414
Gross profit 125,738 134,723
EBITDA 52,666 81,176
Net profit 56,025 287,306
Total net profit attributable to :
- Owners of the company 51,368 281,520
- Non-controlling interests 4,657 5,786
Total comprehensive income 54,879 290,847
Total comprehensive income attributable to :
- Owners of the company 50,222 285,061
- Non-controlling interests 4,657 5,786
Earnings per share (in full Rupiah) 0.53 3.17
in million Rupiah Q1-2024 FY-2023
Balance Sheet
Total assets 33,544,373 33,475,139
Total liabilities 6,735,583 6,721,228
Total equity 26,808,790 26,753,911
Compared with the previous quarter, the Company's total revenue slightly weakened by 5.9% from
Rp374.4 billion in Q4-2023 to Rp352.1 billion in Q1-2024. This was due to the strong revenue from
hotel and resort, which is the Company's largest segment, in Q4-2023 due to the Christmas and
New Year holidays, as well as the renovation of 110 rooms at The Westin Resort Nusa Dua, Bali
which started in February 2024.
PT MNC Land Tbk Page | 1
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The Company recorded EBITDA of Rp52.7 billion in Q1-2024 with a net profit of Rp56.0 billion at the
end of the first quarter of 2024, and a net profit attributable to owners of the parent entity of
Rp51.4 billion. The net profit margin attributable to owners of the parent entity is 14.6% in
Q1-2024.
The Company's balance sheet remained stable with total assets of Rp33.5 trillion, liabilities of
Rp6.7 trillion, and equity of Rp26.8 trillion in the first quarter of 2024.
BUSINESS UPDATES
MNC Lido City Special Economic Zone, the first of its kind in Greater Jakarta and closest to Jakarta
with direct access to the Bocimi Toll Road, is rapidly developing a 1,040-hectare area out of its total
3,000 hectares into a “world-class entertainment and hospitality destination”.
Several projects within MNC Lido City SEZ are showing significant progress:
• Trump International Golf Club Lido
Designed by Ernie Els, one of the most successful
golfers and world-class course designers, this soon-to-
be-opened 18-hole, world-championship golf course
spans 83 hectares. The first 9 holes and the Halfway
House are ready for operation, with several Private
Clubhouses also demonstrating significant progress.
Construction is also underway on a 3-hectare Golf Club
designed by Oppenheim Architecture, targeted to open
this year.
• Lido Skyview Resort
Occupying a 3.5-hectare area around Lido Lake Resort,
Lido Skyview Resort is a nearing-completion 10-story,
5-star hotel featuring 124 additional rooms and a range
of modern amenities. The hotel building is finished and
is currently undergoing interior design. Lido Skyview
Resort is scheduled to open in 2024 and will be
integrated with Lido Adventure Park.
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• Lido Music & Arts Center (LMAC)
Following its official opening with a music concert on
September 8, 2023, various facilities within the LMAC
area are now even more complete and ready for use.
In Q1-2024, this 5-hectare world-class outdoor venue
finished construction of 2 VIP buildings, each
containing VIP lounges, medical rooms, makeup
rooms, and a rooftop suitable for private events.
• Movieland
In collaboration with PT MNC Digital
Entertainment Tbk (MSIN), MNC Land is
building Movieland, the largest and most
integrated indoor and outdoor studio
complex in Indonesia, spanning
21 hectares. Movieland offers diverse
backlot settings, including a mosque,
church, restaurants, cafes, city streets,
shops, and green screen sets. It also
provides pre-production, production, post-production facilities, and other end-to-end support
services for film and TV productions. Most of the facilities are already completed and ready to
host international-standard movie and drama series productions.
Beyond the significant progress on these projects
within MNC Lido City SEZ, MNC Land has also
secured several prestigious awards, reaching the
international level. MNC Lido City SEZ ranked the
2nd best Tourism SEZ in all of Indonesia and
received an investment partnership commitment
award from the Indonesian Investment
Coordinating Board (BKPM). Moreover, The
Westin Resort Nusa Dua, Bali also made in the list
of “The Very Best Hotels & Resorts for Families in
2024" from Travel Leisure Hotels 2024 in
Southeast Asia.
PT MNC Land Tbk Page | 3
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For further information, please contact: PT MNC Land Tbk
Natassha Yunita – Head of Investor Relations MNC Tower, 17/F, MNC Center
natassha.yunita@mncgroup.com Jl. Kebon Sirih No. 17-19, Menteng
investorrelations.mncland@mncgroup.com Jakarta Pusat 10340, Indonesia
Phone: +62 21 3927471
Fax: +62 21 3921227
www.mncland.com
DISCLAIMER
By accepting this Press Release, you agree to be bound by the restrictions set out below. Any failure to comply with these restrictions
may constitute a violation of applicable securities laws.
The information and opinions contained in this Press Release have not been independently verified, and no representation or warranty,
expressed or implied, is made as to, and no reliance should be placed on the fairness, accuracy, completeness or correctness of, the
information or opinions contained herein. It is not the intention to provide, and you may not rely on this Press Release as providing, a
complete or comprehensive analysis of the condition (financial or other), earnings, business affairs, business prospects, properties or
results of operations of The Company or its subsidiaries. The information and opinions contained in this Press Release are provided as at
the date of this presentation and are subject to change without notice. Neither The Company (including any of its affiliates, advisors and
representatives) nor the underwriters (including any of their respective affiliates, advisors or representatives) shall have any
responsibility or liability whatsoever (in negligence or otherwise) for the accuracy or completeness of, or any errors or omissions in, any
information or opinions contained herein nor for any loss howsoever arising from any use of this Press Release.
In addition, the information contained in this Press Release contains projections and forward-looking statements that reflect The
Company's current views with respect to future events and financial performance. These views are based on a number of estimates and
current assumptions which are subject to business, economic and competitive uncertainties and contingencies as well as various risks
and these may change over time and in many cases are outside the control of The Company and its directors. No assurance can be given
that future events will occur, that projections will be achieved, or that The Company's assumptions are correct. Actual results may differ
materially from those forecasts and projected.
This Press Release is not and does not constitute or form part of any offer, invitation or recommendation to purchase or subscribe for
any securities and no part of it shall form the basis of or be relied upon in connection with any contract, commitment or investment
decision in relation thereto.
PT MNC Land Tbk Page | 4
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