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PT Lippo Karawaci Tbk
Public Expose - 2023
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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. 27% 2
Continuous growth driven by high
complexity clinical programs made Siloam to
Healthcare stay competitive in the market.
3 66%
Lifestyle
Hotel, malls and ancillary business 7%
assets that are profitable and supplement
the main business by providing regular
dividend income.
*size of circle represents the revenue contribution of each segments for FY23
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Business Operational Area
as of 31 December 2023
Townships Hospitals
Lippo Village : 395 ha landbank Total Hospitals : 41
Lippo Cikarang : 502 ha landbank Total Clinics : 67
Tanjung Bunga : 345 ha ;andbank Locations : 23 provinces
GPs, Specialists and Dentists : 3,812
Superblock Nurses and Medical Professionals : 8,522
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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Financial Updates
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Turning NPAT positive resulting from sustained growth since 2019, albeit
delayed due to covid interruption.
Revenue EBITDA
(in IDR bn) (in IDR bn)
+5% +12%
+15% +28%
16.990 4.199
15.416 14.809
3.362 3.273
FY21* FY22 FY23 FY21* FY22 FY23
Gross profit NPAT
(in IDR bn) (in IDR bn)
+8% 102%
+18% 107%
7.660 76 50
6.529 6.485
-1.171 -1.125
-1.668
-2.693
FY21* FY22 FY23 FY21 FY22 FY23
Underlying NPAT² NPAT
2Underlying NPAT (EBITDA minus interest, tax, depreciation and the rental expense equivalent
*FY21 normalized to exclude LMIRT consolidation component from the PSAK 73 leasing calculation; excludes non-operational and one-off items) 6
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Debt and USD/IDR Hedging
Debt breakdown Debt maturity Profile
(in IDR bn)
USD debt (bonds)
IDR debt (bank loans)
3.656
46% USD debt (bonds) 3.001
54% IDR debt (bank loans)
529 604 722
352 460
2024 2025 2026 2027 2028
Historical Net Debt1 Currency Protection with Call Spread Options
(in IDR bn)
14.000 12.803 12,562 0,7
BOND 2025
12.000
11.730 0,6
0,5 10.732 0,7 15.000 16.000 17.500
0,6
10.000 8.586 0,5
8.000 7.395 0,5 0,4 BOND 2026
6.000 0,4 0,3 15.000 16.000 17.500
4.000 0,2
0,2 Unhedged Protected with the call spread hedging
2.000 0,1
0 0,0 ▪ Lippo Karawaci hedged 100% of 2025 and 2026 principal at IDR 15,000
2018 2019 2020 2021 2022 2023
– 17,500, and 100% 2026 interest at IDR 13,300 – 15,500.
DER Consolidated net debt
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Real Estate Overview
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Real Estate Business Key Metrics
FY23 Marketing Sales of IDR5.12tn has
exceeded 5% of FY23 target.
FY23 Marketing Sales was mainly driven by
LPKR has set FY24 marketing sales target the Lippo Village and Lippo Cikarang with
of IDR 5.38tn or 10% increase compare of 51% and 25% respectively.
FY23 target
Real Estate FY23 revenue increased by 10% YoY to
IDR 4.5tn
In 2023, LPKR has successfully
In FY23 vs FY22.
launched a new township named
“Park Serpong” and introduced
Real Estate EBITDA increased by 19% YoY to
new product – ‘XYZ Livin’.
IDR1.248tn
in FY23 vs FY22.
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Business Highlights
Historical marketing sales (in IDR bn) Marketing sales by location
3.0% Jakarta
6.0%
5.0% 8.0% Karawang
26% +7% 1.0% Cikarang
4.964 5.122 4.900 25,0% Lippo Village
4.766
Makassar
2.670 Manado
1.598 1.846 105% 51,0% Others
Lippo Village remain the largest contributor with 51%, followed by
2018 2019 2020 2021 2022 2023 Target
FY23 Lippo Cikarang with 25%.
FY23 Marketing sales results vs target by project (in IDR bn) Payment Profile (excl. Landplot sales)
115% 78% 160% 102% 79% 95% 105%
21,0%
5,122 4.900 Mortgage
Cash
2.618 2.275 Instalment
17,0% 62,0%
1.301 1.375
248 320 328 205 229 225 397 500
Lippo Tanjung San Diego Inventory Land plot Lippo Total
Village Bunga Hills products Cikarang 62% of total marketing sales were financed through mortgage. There
are still strong demand in affordable housing, supporting high
FY23 results FY23 target % of results vs target mortgage utilization. 10
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FY23 Marketing Sales Results
FY23 Marketing sales FY23 Marketing sales
target result FY23 Units
Project Location
sold
(in IDR bn) (in IDR bn)
Hold Co 3,525 3,821 5,106
Lippo Village West Greater Jakarta 2,275 2,618 3,100
Tanjung Bunga Makassar, South Sulawesi 320 248 301
San Diego Hills Karawang, West Java 205 328 1,583
Inventory (high-rise and landed) Various Locations 225 229 120
Land Plot Various Locations 500 397 2
Lippo Cikarang 1,375 1,301 1,127
Residential East Greater Jakarta 800 712 893
Industrial East Greater Jakarta 500 318 102
Commercial East Greater Jakarta 75 271 132
Total 4,900 5,122 6,233
Key Takeaways
▪ LPKR achieved FY23 marketing sales of IDR 5.12tn, exceeding 5% of the FY23 marketing sales target of IDR 4.9tn,
supported by the introduction of new township named “Park Serpong”.
▪ Over 55% of the marketing sales were driven by landed residentials, namely Cendana Homes, XYZ Livin, Waterfront
Uptown, Colony and Brava.
▪ Aside from landed residentials, Holdco sales also compromised of IDR 397bn of land plot sales, residentials projects in
Makassar of IDR 248bn, sales of existing inventory of IDR 229bn and our cementary land, San Diego Hills of IDR 328bn.
▪ Lippo Cikarang achieved IDR 1.3tn marketing sales, 55% of the marketing sales from residentials products, followed by
24% industrial and 21% commercial.
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New Township launch in 4Q23
Park Serpong Launching – 28 October 2023
▪ Park Serpong is a new township that was launched in 28 October 2023, strategically located in the centre of Serpong, West
Jakarta
▪ Less than 15 minutes to the nearest public facilities, such as universities and schools, shopping centres and business park.
▪ Completed with affluence facilities, includes EV charging stations, water treatment plant, recycling units, fibre optic high-speed
internet and town management application.
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New Product launch in 4Q23
Product offered in Park Serpong
XYZ Livin Cendana Livin
▪ Park Serpong is a new township that was launched on 28 October 2023, located in Serpong area surrounded by established
developments.
▪ ‘XYZ Livin’ is a type of residentials which suitable for Generation X, Y and Z.
- Type X (land area: 52.5m2, building area: 60.7m2) = staring price IDR 559mn
- Type Y (land area: 31.35m2, building area: 40.7m2) = starting price IDR 389mn
- Type Z (land area: 28.5m2 , building area: 29.5 m2) = starting price IDR 299mn
▪ Cendana Livin (land area: 60m2, building area: 55m2) = starting price IDR 719mn
▪ All the units offered were sold on that day.
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Healthcare Overview
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Siloam closed the year with double digit growth bottom line
Revenue¹ (in IDR bn)
Revenue¹ EBITDA¹
Annual Revenue Quarterly Revenue
IDR8.66tn IDR2.67tn 7.4%
in FY23 in FY23
7.637 8.663 3.9%
7.393
5.262 5.758
17.2%| 13.9% 34.6% | 21.9% 1.747 1.685 1.951 2.010 2.047 2.040 2.287 2.289
in FY23 vs FY22 in 4Q23 vs 4Q22 in FY23 vs FY22 in 4Q23 vs 4Q22 FY19 FY20 FY21 FY22 FY23 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23
EBITDA¹ (in IDR bn; 4Q19 w/o new accounting standards)
EBITDA Margin at
30.8% in FY23 vs 16.6% 20.8% 25.7% 26.9% 30.8% 23.4% 24.4% 29.4% 29.3% 29.5% 29.7% 32.4% 31.4%
26.8% in FY22
Annual EBITDA Quarterly EBITDA
17.4%
8.4%
Net Profit 871 1.197 1.962 1.984 2.670
589 603 607 741 720
409 411 575
IDR1.25tn FY19 FY20 FY21 FY22 FY23 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23
in FY23
Net Profit (in IDR bn; 4Q19 w/o one-off adjustments)
75.5% | 43.6% -6.3% 2.2% 9.2% 9.6% 14.4% 5.8% 6.6% 12.5% 12.6% 12.6% 12.7% 16.1% 15.9%
in FY23 vs FY22 in 4Q23 vs 4Q22
Annual Net Profit Quarterly Net Profit
NPAT Margin at 21.1% 19.9%
14.4% in FY23 vs 700 710
1.247
9.6% in FY22 125 102 111 245 253 257 259 367 363
-333
FY19 FY20 FY21 FY22 FY23 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23
¹ Note: Revenue based on non-specialist revenue only. EBITDA is based on non-consolidated and include other income/expenses. % to Revenue 15
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Maintained an industry leading revenue intensity driven by high complexity clinical
programs
Average Revenue per Occupied Beds (in IDR bn)
Average Revenue per Occupied Beds
(in IDR bn)
Hospital A Hospital B
+10.7%
3,8 1,9 2,0
3,0 3,3 3,3
1,5
2,2 1,3
2019 2020 2021 2022 2023 2022 2023E
Average Revenue per Patient Days (in IDR mn)
Average Revenue per Patient Days
(in IDR mn)
+9.1%
Hospital A Hospital B
+7.9%
7,3
6,5 6,8 6,8
6,3 3,6
5,8 3,5
4,8
2,1 1,9
2019 2020 2021 2022 2023 4Q22 4Q23 2022 3Q23
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Stable and sustained growth in all operational metrics
Inpatient Admissions Inpatient Days (days) & ALOS
+25.6% ALOS
+15.5% Inpatient Days (days)
302.463
3,3 3,5 3,5 3,4 3,3 3,3
3.1 3,2 3,2 3,1 3,1
240.842
939,878
80.230 79.272 813,676
55.704 65.908 67.995 71.316 71.645
49.608 51.235
172,688 179,911 188,017 219,689 226,059 225,324 226,204 245,438 242,912
FY22 FY23 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 FY22 FY23 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23
Occupancy Rate Outpatient Visit & OPD to IPD Conversion
OPD to IPD Conversion
Outpatient Visits
+10.7%
+23.0%
65.2% 64.4% 65.0% 65.0% 64.5% 68.2% 66.2%
58.9% 55.1% 3.1% 3.0% 3.0% 3.0% 3.0% 3.2% 3.1% 3.0%
51.0% 51.3% 2.9% 2.9% 2.9%
3,949,341
3,210,291
691,890 698,796 714,079 841,607 883,994 925,259 910,407 1,047,2011,066,474
FY22 FY23 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 FY22 FY23 4Q19 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23
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Lifestyle Overview
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Malls and Hotels continue to benefit from the post-Covid recovery.
Malls revenue2 Hotels revenue2
+27% +31%
+11% +20%
561 446
505 373
346 261
FY21 FY22 FY23
FY21 FY22 FY23
Consistent YoY growth of malls visitors¹ Hotels Occupancy
(Average monthly visitors; in mn visitors)
+20% +10%
+9% +2%
10,0 67% 69%
9,1 57%
6,9
FY21 FY22 FY23 FY21 FY22 FY23
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 3 people and organisations named in the text · linked when the evidence is strong
unresolved
person
Dr. Randi Bayu Prathama
p.21
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