PT BUMI SERPONG DAMAI TBK
PT Bumi Serpong Damai Tbk
October 2015 Company Overview Company Highlights
• PT Bumi Serpong Damai Tbk (“BSDE”) was Shareholders Structure established in 1984 by consortium of Sinarmas Land shareholders to develop BSD City as a satellite city in southwest of Jakarta 35% Other founding • BSDE has started its operation since 1989 shareholders and has grown to become a new center of Free floating economy in the southern outskirt of Jakarta 63% • BSD City is one of the largest city 2% development company in Indonesia with total license area of 5,950 ha Company Structure Chart • Well established developments in Greater Jakarta & Borneo, expanding to Surabaya, BSDE Manado, Palembang and Semarang 88.56 72.25% 55% Duta% Sinar Mas Sinar Mas • BSDE is included in various indices, including Pertiwi Teladan Wisesa Bisnis 27, Kompas 100, LQ45, JII, 49% 99.9% 60% Investor33 & MSCI Indonesia Sentra Talenta Sinar Usaha • BSDE is the largest property company in International Utama Marga terms of market capitalization, IDR 32 Expo th trillion/USD 2.3 billion as of 15 October 51% 99.9% 99.9% 99.9% 99.9% 2015) (1 USD ~ IDR 13,600)] Bumi Bumi Garwita Praba Pastika Parama Paramudita Sentra Selaras Candra Wisesa Mas Utama Pratama Pertiwi 1 Corporate Actions
2003 --20082008 2010 20122012--20132013 2014 2015 2003, issued BSD Rights issue IDR Issuance Shelf 5% new shares 5% new shares Bond I IDR 250B, 760 Registered Bond issuance at Rp issuance at Rp repaid in 2008 Acquisition of IDR 2.75 trillion 1,820/share 1,890/share 2006, issued BSD DUTI (85.31% of Acquired stake Issuance USD Bond II IDR 600B, equity interest) of PLIN.IJ up to Bond USD 225 repaid in 2011 Capital Injection 34.22% million 2008, IPO at to SMT (60% of IDR 550 enlarged equity) and SMW (55% of enlarged equity)
Current share price at Rp 1,645
15 th October 2014 at Rp 1,475
2 Core Business
PT Bumi Serpong Damai Tbk
Sales Development Revenue Recurring Revenue
City & Urban Gated/cluster Vertical Office Malls and Hotels & Development Residential Residential Buildings Superblocks Leisure
Greater Semarang Surabaya Medan Palembang Balikpapan Samarinda Manado Makassar Jakarta
International Trade Center (ITC) Landed Residential Shopping Mall Shop Houses and offices Office Building Industrial Estate Estate Management Commercial Lots Hotel Apartments Convention & exhibition
3 Diversifying Portfolio
Presence in Indonesia 9 (nine) big cities
Balikpapan Permai Wisma BII- Medan Balikpapan Baru Mal Balikpapan Baru Le Grandeur Hotel Grand City
Manado
Samarinda Balikpapan Palembang
Sinarmas Land Office Tower Makassar Thamrin Greater Jakarta Le Grandeur Hotel Mangga Dua Ocean Park BSDCity Surabaya MT Haryono (vacant land) Kuningan Rasuna (vacant Semarang land)
BSD City Serpong Grand Wisata Bekasi ITC Superblock Mangga Dua Kota Wisata Cibubur ITC Superblock Cempaka Mas Legenda Wisata Cibubur ITC Superblock Roxy Mas Kota Bunga Bogor ITC Superblock Permata Hijau Mangga Dua Center – Jagir Taman Permata Buana West ITC Fatmawati ITC Surabaya Jakarta ITC Depok Wisma BII Banjar Wijaya Tangerang ITC Kuningan Ambasador Benowo Industrial Estate (vacant land) Bale Tirtawana Bogor ITC BSD Lakarsantri (vacant land) Jatiasih (vacant land) Duri Pulo (vacant land) Tanjung Sari (vacant land) Cibubur (vacant land) Tanjung Barat (vacant land) Mayjen Sungkono (vacant land)
4 Strong Footprint in Greater Jakarta
Java Sea Seaport
TJ Priok
Soekarno-hatta ITC Superblock ITC Superblock International Airport Mangga Dua Cempaka Mas
Le Grandeur Hotel Taman Permata Buana Jakarta
Plaza BII Tangerang ITC Kuningan Ambassador Mall Seaport Taman Banjar Wijaya Rasuna Jakarta – land bank Ke Merak ITC Permata Hijau MT Haryono – land bank Bekasi Karawaci Alam ITC Fatmawati Sutera Gading Serpong Pd. Indah Grand Wisata Cibitung New toll road BSD City Jatiasih, Cibubur – land bank Ocean Park Kota Wisata Lenteng Agung – land bank Cikarang
Legenda Wisata
Depok Pamulang Ke Cikampek Bale Tirtawana - 7 spacious residential projects ITC Depok - 8 superblock developments Bogor - 3 towers office buildings - 27 ha commercial land banks in Jakarta
5 Satellite City Development
BSD City (developed since 1989) ••Development Rights : 5,950 ha BSD City ••Land acquired : ±± 5,050 ha ••Developed : ±± 2,100 ha Kota Wisata
Grand Wisata
Kota WisataWisata,, Cibubur (developed since 1996) ••Development Rights : 543 ha ••Land acquired : ±±480 ha ••Developed : ±±362ha
Grand WisataWisata,, Bekasi (developed since 2005) ••Development Rights : 1,100 ha ••Land acquired : ±± 865 ha ••Developed : ±± 320 ha 6 Commercial Superblocks
SuperblockSuperblock Mangga Mangga Dua Dua Superblock Permata Hijau Superblock Mangga Dua Permata Hijau Superblock Roxy Mas Superblock Cempaka Mas Superblock Ambasador Kuningan Superblock Fatmawati Mas Superblock Permata Hijau Superblock Mangga Dua Surabaya ITC Depok ITC Surabaya ITC BSD •• Pioneer of ITC (strata retail mall) ITC Depok Future Commercial Expansion •• One of the pioneers of “superblock •• Mixed development, Duri Pulo, Pulo , Central developments” which combine Jakarta,16 ha condominium, retail space and offices •• Mixed development, Lenteng Agung, Agung , South •• As most favorite business hub for Jakarta, 5.6 ha wholesalers and retailers •• Mixed development, Jakarta CBD, Rasuna EpicentrumEpicentrum,, 5.5 ha •• Vertical development, Jakarta CBD, MT Superblock Cempaka Mas HaryonoHaryono,, 8,000 sqmsqm •• Successfully developed 10 Superblocks in spread around Greater Jakarta and Surabaya with around 1,3 million net sellable area and as recurring income generator 154,000 sqmsqmleaseable area
7 Investment Properties
Jakarta Office Building
Sinarmasland Plaza Thamrin II Rentable area : 10,230 sqmsqm 12 storey office building
Sinarmasland Plaza Thamrin IIII Rentable area : 66,180 sqmsqm 39 storey office building
Sinarmasland Plaza Thamrin IIIIII Rentable area : 11,494 sqmsqm 12 storey office building Surabaya Office Building
Wisma BII Surabaya Jakarta Breeze Open Air Lifestyle Mall Rentable area 23,281 sqmsqm Net leaseable 29,000 sqmsqm 20 storey office building 13.5 ha gross land area, BSD City
Medan Office Building DP Mall Semarang, Central Java Hotel (4 star Hotel) Net leaseable 18,300 sqmsqm Wisma BII Medan Gross floor 53,000 sqmsqm Rentable area : 11,651 sqmsqm Le Grandeur Jakarta 16 stories, 352 rooms 10 storey office building Epicentrum Walk Mall, CBD Jakarta Net leaseable 10,722 sqmsqm Le Grandeur Balikpapan Gross floor 14,800 sqmsqm 5 stories, 191 rooms 8 Project Overview BSD City –– Master Plan ~ 6,000 Ha
PHASE 3 2,450 Ha
PHASE 1 1,1,550000 Ha
PHASE 2 2,000 Ha
9 Infrastructure & Facilities
Infrastructure Facilities ••Easy access to BSD City: ••Lifestyle and Entertainment 2 existing toll roads DIG Golf Course, Indonesia Convention Exhibition (ICE) 3 future toll roads Ocean Park Waterpark double tracks train (executive) Breeze Mall, TeraskotaTeraskota,, BSD Plaza, ITC BSD, Aeon Mall feeder bus, link into busway Clubhouse, swimming pool, movie theaters ••Reliable power supply and fiber optic cables are the backbone to the ••Education, Health, Worship communication infrastructure More than 65 education institution ••Water treatment plant to provide continous fresh water supply ±± 5 hospitals ••Nursery, a plant seeding cultivation center to support BSD City green Mosque, church, temple development ••Service: traditional market, fire fighter, 24 hour securities
10 Phase I ~ 1,500 Ha Green Cove Sevilla The Green
••Development started in 1989 and currently at completion stage ••Population around 160.000 people (phase 1 and 2) ••35.000 Residential and Commercial Units (phase 1 and 2)
Sunburst Office Park ITCITC BSD Taman Tekno
o
11 Phase IIII--ResidentialResidential
De Park (66 ha) Launch in 2010 and 2011
SubSub--ClusterCluster dede Cajuputi dede Frangipani de Heliconia dede Brassia dede Maja de Naara de Maja 22
Development 17 ha 5.8 ha9.2 ha11.9 ha13.2 haha2.33 haha13.2 haha Area
Units 250 9595 9999 9090 7878 5353 8282
Price Range IDR 1.28 –– IDRIDR1.8 –– IDRIDR 2.12.1–– IDR 4.1 –– IDR 3.73.7-- IDR 2 ––4.54.5IDR 5.3 ––13.713.7 In billion IDR 2.54 IDR 3.2 IDR 5.2 IDR 7.2 IDRIDR 7.57.5
Type BB185185 --335335 B 185 --310310 BB200200 --348348 BB300300 --348348 B 230230--348348 B 120 ––216216 B 260 ––348348 InIn sqmsqm L 210 --450450 LL210210 ––375375 L 250 --630 L 300 ––12001200 L 250250--770770 L 160 ––300300 L 300 ––10221022
12 Phase II ~ Greenwich Park 48 ha
SubSub--ClusterCluster Mayfield Sheffield Whitsand Whelford Luxmore Hylands Development 7.5 ha 7.6 ha6 ha7 ha 77haha7 ha Area Units launched 168 197 5757259 8383192 Price Range In 2.5 ––55 2.7 ––6.76.7 2.8 ––6.76.71.5 ––1.81.8 1.71.7--2.72.71.4 ––2.32.3 billion IDR Type In sqmsqm BB130130 --275275 BB130130 --275275 B 132 ––288288 B 120 ––125125 B 120120--125125 B 70 ––133133 L 160 --300 L 160 --300 L 160 ––535535 L 60 ––8484 L 112112--295295 L 77 ––112112 13 Phase II ~ The Eminent 41 Ha
SubSub--ClusterCluster Ingenia Illustria Illustria 22 Prestigia 11 Prestigia 22 Precia Vivacia 11 INGENIA Development 9 ha 11 ha12 ha 4 ha7.7 ha Area
VIVACIA Units launched 243 151 219 8484256 147 289 ILLUSTRIA
PRESTIGIA Price Range In IDRIDR 1.51.5––3.63.6IDR 1.7 ––3.63.6IDR 1.8 --3.63.6IDR 1.7 ––2.32.3IDR 1.5 –– IDRIDR1.6 –– PRECIA billion 2.7 3.83.8 Type In sqmsqmB 92 ––125125 B 92 ––125125 B 116 ––228228 B 9191--101101 B 82 --190190 B 82 ––190190 L 105 ––354354 L 112 ––333333 LL105105 ––300300 LL105105 --208208 L 84 ––150150 L 84 --200200
14 Phase II ~ Vanya Park 35 Ha
SubSub--ClusterCluster Azura Assana
Development Area 5.6 ha2.0 ha Units launched 418 152 Price Range In billion IDR 1.0 ––1.41.4 IDR 0.989 ––1.281.28 Type In sqmsqmB 53 --7070 B 53 --7070 L 60 ––7777 L 60 ––7777 15 Phase II ––BSDBSD Green Office Park (25 Ha)
• Comprise up to 10 low- rise office buildings
• Gold Award for Green Mark District, certified by Building Construction Authority (Singapore)
• Micro-climate optimization st • 1 Marketing Office, operated in 2011 nd • 2 Sinarmas Land Plaza, operated in 2012 as Sinarmas Land’s Headquarter. rd • 3 Breeze Life Style mall, mainly food & beverage tenants, operated July 2013 th • 4 GOP 6, for lease, operated in June 2015
• Under construction : two towers office of PT Unilever Tbk, one tower GOP 9 for lease
• Won several awards, one of them was as The Best Green Development by South East Asia Pacific Award
Sinar Mas Land Plaza 16 Phase II ––IndonesiaIndonesiaConvention Exhibition ICEICE • A new emerging destination of MICE industry in Indonesia on 22 ha land area, located in main boulevard of BSD City 2 nd phase
• Spacious indoor and outdoor exhibition area, 100,000 sqm
• Divisible convention hall, 4,000 sqm, into rooms or meeting rooms
• 12,000 sqm convenient pre-function lobby
• Comprehensive services for wide variety of events including musical concerts, large scale wedding, gala dinner, graduation, product launch, religious service and sport tournament
• Jointly with Kompas Gramedia Group
• Managed and operated by Duetsche Messe, Hannover, Germany
17 Phase II ––AEONAEON Mall
• On 10 hectares land area, 177,000 sqm of GFA, 77,000 sqm of NLA
• Jointly develop with AEON Co. Ltd th • Grand opening on 30 May 2015
• Anchor tenants : Aeon Department Store, Aeon Supermarket, H&M, Uniqlo, XXI, Muji, Gramedia
18 Phase II ~ Nava Park
1 Entrance Gates • Jointly developed with Hong Kong Land 2 Commercial Mixed-use • 68 hectares premium residential area, landed, low rise and mid rise housing th 3 NavaPark Country Club • LANCEWOOD Launched on 28 October 2014, 100 landed bungalows sold 4 Spring Walk out, ranging price from IDR 4.8 to 12 bn each. th 5 Man Made Lake • Marigold launched on 28 March 2015, one tower low rise condominium, 94 1 6 Feature Bridge units, ranging price from IDR 1.5 to 5 billion per unit. 7 Playzone and 2 Multipurpose Park2 B B
A 5 3 1 7 B
A 4 B 5 C 7
4 C A B 6
2 1 2 A Landed houses B Condominiums C Waterfront Villas 19 Education Center ••Integrated education center Swiss German University ••Located at near by residential area BSD City ••Two universities has existed: Swiss German University (10 Ha) Prasetiya Mulya Business School (10 Ha)
••Various international and well known local schools: Jakarta Nanyang International School Sinarmas World Academy Santa Ursula Catholic school AlAl--AzharAzharIslamic School Binus International School Prasetya Mulya Business School Deutsche Schule Ora Et Labora EtcEtc
20 Jakarta CBD Project : The Elements
• Situated Jakarta CBD, golden triangle, Jl. HR. Rasuna Said, South Jakarta
• 5.5 ha commercial land plot, divided into 3 plot land parcels, Lot 16, 17 and 18
• Surrounded by mall, office towers, apartments and mixed use development
• The Element condominium for sales is on Lot 16, 6,000 sqm land area, comprising two tower condominium and serviced apartment, plan to launch in 2H 2015, two and three bedrooms type 21 Financial Overview Financial Performances
Assets Liabilities Equities Revenues Gross Profit Net Profit EBITDA
34% 154 211 31% DER 23% 34,610 5,741 5,572
28,135 142 4,166 4,132 22,572 21,259 3,821 75 3,367 18,473 3,183 2,959 2,691 2,667 13,415 13,351 2,444 2,511 9,157 9,661 1,809 1,818 1,307 1,415
2013 2014 1H15 FY2013 FY2014 1H2014 1H2015
19% 15% 17% 16%
• Approaching 80 : 20 proportion of sales development income and recurring income 81% 85% 83% 84%
FY2012 FY2013 FY2014 1H2015
Development Revenue Recurring Income 22 Profitability Highlights
Gross Margin 2012 2013 2014 1H15
Residential 47% 54% 61% 64% Land 76% 83% 90% 95% Commercial 56% 65% 54% 63% Recurring Income 85% 85% 88% 88%
106%
74% 75% 74% 74% 69% • Maintaining > 64% 60% gross 55% 54% 54% 51% 54% 54% margin 47% 47% 47% 42% 44% • Maintaining > 38% 35% 30% net 26% margin 21% 16% 15% 7%
Gross Margin Operating Margin Net Margin EBITDA Margin Return on Equity* 2012 2013 2014 1H14 1H15 * After deducting minority interest 23 Revenues Composition
2013 1H2014 2% 4% 5% 1% 2% 8% 5% 11% 36% 38% 13%
45% 30%
1H2015 2014 1% 2% 1% 10% 5% 5% 10% 28% 14% 47%
20% 35% 23%
24 Dividend Pay Out
Net Income Dividend %NI
3,821 2277%% 21% 2,691 21% 2020%% 2200%% 1,287 1010%% 841 7.57.5%% 394 22344 309 66 105 175 262 276 288
IDR In Bn 2008 2009 2010 2011 2012 2013 2014
Year 2008 2009 2010 20120111 2012 2013 2014 books Number 10,935,633, 10,935,633, 17,496,996, 17,496,996, 17,496,996, 18,371,846, 19,246,696, of of 870 870 592 592 592 392 192 Shares IDR/ 44 66 66 1010 1515 1515 1515 Share
25 Financial Highlights Balance Sheets 2013 (IDR 2014 (IDR % YoY 1H15 (IDR % YTD in bn) in bn) in bn) Cash and cash equivalent 4,332 2,967 -32% 6,889 132% Inventories 3,797 5,239 38% 5,712 9% Land for development 7,247 8,038 11% 8,331 4% Investment properties 2,460 2,715 10% 2,866 6% Investment in shares 523 4,804 818% 5,386 12% Total assets 22,572 28,135 25% 34,610 23% Bonds payable 2,730 2,734 0% 5,667 107% Bank loan 1,363 1,522 12% 1,585 4% Sales advances 2,513 3,778 50% 3,975 5% Total equities 13,415 18,473 38% 21,259 15% Profit and Loss FY2013 FY2014 % YoY 1H14 (IDR 1H15 (IDR % YoY (IDR in bn) (IDR in bn) in bn) in bn) Revenues 5,741 5,572 -3% 2,444 3,367 38% Gross Profit 4,166 4,132 -1% 1,809 2,511 39% Operating profit 2,910 2,632 -10% 1,154 1,704 48% Net Income* 2,691 3,821 42% 2,576 1,415 -45% EBITDA 3,183 2,959 -7% 1,307 1,818 39% EPS (full IDR) 154 211 37% 142 75 -47% *Consolidated net income after deducted nonnon--controcontrollinglling interests
26 Pre Sales Summary (in bnbn RpRp))
7,348 7,501 6,508 8,000 6,481 1,944 7,000 6,000 260 1,944 - 6,000 4,960 3,317 - 4,618 5,000 1,528 2,907 2,887 - 4,000 1,122 1,538 2,943 3,000 2,000 3,875 4,184 3,414 3,093 3,361 3,080 1,000 2,017 - 9Mo13A 2013A 2014T 9Mo14A 2014A 2015T 9Mo15A Residential Commercial JV Land lot
27 Thank You
Thank You www.bsdcity.comThank You Appendix Awards Disclaimer
• No representation or warranty express 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. The Company shall not have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with the document. • This document may contain forward-looking statements and estimates with respect to the future operations and performance of the Company and its affiliates. Investors and security holders are cautioned that forward-looking statements are subject to various assumptions, risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Company. Such assumptions, risks and uncertainties could cause actual results and developments to differ materially from those expressed in or implied by the forward-looking statements. Factors that could cause actual results and developments to differ materially from those estimated by the forward-looking statements include, but are not limited to, property prices and demand and supply of properties. Accordingly, no representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained in this document, nor is it intended to be a complete statement or summary of the property markets or developments referred to in this document. It should not be regarded by recipients as a substitute for the exercise of their own judgment. Neither the Company and any other person assumes responsibility for the accuracy, reliability and completeness of the forward- looking statements contained in this document. The forward-looking statements are made only as of the date of this document. The Company is under no duty to update any of the forward-looking statements after this date to conform such statements to actual results or developments or to reflect the occurrence of anticipated results or otherwise Contact Info
PT BUMI SERPONG DAMAI TBK Sinar Mas Land Plaza, Wing B, 3rd Floor Jl. Grand Boulavard, BSD Green Office Park BSD City Tangerang 15345 Indonesia Phone : +62 21 50 368 368 Fax : +62 21 537 3008 Website : www.sinarmasland.com
• Hermawan Wijaya, Director [email protected]
• Christy Grassela, Head of Investor Relations [email protected]