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Results Presentation (6M20) Results Summary (Income Statement)

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Results Presentation (6M20) Results Summary (Income Statement) Results Presentation (6M20) Results Summary (Income Statement) (Rp bn) 6M20 6M19 % YoY Effect of -6% YoY in Property Development Revenue 2,804 3,145 -11% segment and -24% YoY in Recurring segment COGS (1,508) (1,656) -9% Gross Profit 1,297 1,489 -13% Gross Profit Margin 46% 47% Effect of lower margins from Recurring segment Operating Expense (757) (737) 3% Operating Profit 540 752 -28% Operating Profit Margin 19% 24% Interest Income (Expense) - Net (287) (330) -13% Effect of lower borrowing costs Other Income (Expense) - Net 4 14 -71% Final Tax and Income Tax (95) (116) -18% Net Income Before Non-Controlling Interest 162 320 -49% Non-Controlling Interest 8 (24) -132% Net Income Attributable to Owners 170 296 -43% Net Profit Margin 6% 9% - Business Presentation 2 Results Summary (Revenue Breakdown and Margin Performance) (Rp bn) 6M20 6M19 % YoY Revenue Breakdown Property Development Revenue 2,131 2,257 -6% Houses, shophouses, and land lots 1,815 1,675 8% Apartments 27 365 -92% Adoption of new accounting standard affecting apartment and office revenue Office for sale 288 217 33% recognition (IFRS 15 ; PSAK 72) Recurring Revenue 673 888 -24% Shopping malls 277 383 -28% Temporary rental and service charge discounts due to Covid-19 Hotels 113 210 -46% Lower occupancy rates and lower average room rates due to Covid-19 Hospitals 150 148 1% Offsetting lower patients with Covid-related healthcare services Office leasing 106 92 15% Higher contribution from Tokopedia Tower Others 28 54 -48% Closure of golf courses and waterparks due to Covid-19 Total Revenue 2,804 3,145 -11% Margin Performance Property Development GPM 47% 46% Houses, shophouses, and land lots 50% 50% Apartments 24% 33% Effect of product mix Office towers 28% 37% Effect of product mix Recurring GPM 45% 51% Shopping malls 55% 61% Hotels 25% 38% Hospitals 44% 47% Office leasing 63% 62% Others -30% 25% Total GPM 46% 47% - Business Presentation 3 Results Summary (Revenue per Segment and per Location) Revenue per Segment (6M20) Revenue per Location (6M20) Greater Office Strata Surabaya 10% Apartment 19% Strata 1% Shopping Malls 10% Other Java 20% Hotels 4% Others 10% Sumatra Houses, 7% shophouses, and Greater Jakarta Sulawesi land lots 48% 4% 65% Others 2% • Development = 76% (Houses + Office + Apartments) • Sustained focus on geographically diversified • Recurring = 24% (Malls + Hotels + Hospitals + Office) revenue sources to minimize concentration risk - Business Presentation 4 Results Summary (Historical Revenue Breakdown) Rp tn Development vs. Recurring Revenue 9.00 8.00 7.00 1.4 1.8 1.9 6.00 1.6 1.7 25% 5.00 23% 27% 24% 4.00 18% 24% 6.1 3.00 5.9 5.7 5.1 4.7 0.7 2.00 1.00 2.1 - 2015 2016 2017 2018 2019 6M20 Development Revenue Recurring Revenue Recurring as % of Total Revenue • Continued focus on high-growth core development business and complemented by stable recurring assets - Business Presentation 5 Debt Profile As of Jun-20 Floating Fixed Rupiah SGD Total Borrowings: Rp9.3tn 83% 17% 79% 21% USD 1% Maturity Profile (% of total debt) (Rp tn) 26% 2.5 2.0 Borrowing Cost* 18% 12.7% 12.1% 1.5 11.7% 13% 10.3% 10.2% 10.4% 12% 11% 9% 9% 1.0 0.5 3% 1% 0% 0.0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Short Term Bank Loan Maturity Long Term Bank Loan Maturity Bonds and Notes Payable Maturity Borrowing Cost *Average Borrowing Cost calculation includes capitalized interest expense of 96bn, 74bn, 131bn, 179bn, Rp89bn, Rp6bn in 2014, 2015, 2016, 2017, 2018, and 2019. - Business Presentation 6 Capex Schedule Mall 25% Historical Capex Rp tn Hospital 2.1 2% 2.0 6M20 Hotel 1% 1.3 1.1 0.5tn 0.9 Land for 0.5 Development 57% Others 14% 2015 2016 2017 2018 2019 6M20 • Increased mall capex due to the construction of CitraRaya Tangerang, CitraLand Surabaya, and Ciputra World Surabaya malls - Business Presentation 7 Financial Highlights Revenue Gross Profit (Rp bn) (Rp bn) 3,724 3,628 3,792 3,290 7,514 7,670 7,608 2,997 6,739 47% 6,443 46% 50% 50% 49% 47% 47% 1,489 1,297 3,145 2,804 2015 2016 2017 2018 2019 6M19 6M20 2015 2016 2017 2018 2019 6M19 6M20 Gross Profit Gross Margin Net Profit Key Ratios (Rp bn) 2.2 2.3 1,645 1.9 1.9 2.0 1.6 1.4 1.4 1.5 1,185 1,158 1,021 22% 894 17% 22% 28% 31% 28% 32% 9% -7% 10% 15% 14% 15% 15% 6% -15% 296 170 2015 2016 2017 2018 2019 6M19 6M20 2012 2013 2014 2015 2016 2017 2018 2019 6M20 Current Ratio Net Debt to Equity Net Profit Net Margin - Business Presentation 8 Balance Sheet Summary Rp bn Jun 2020 Dec 2019 Dec 2018 Dec 2017 Assets 37,884 36,196 34,289 31,872 Cash & cash equivalents 3,810 4,238 3,243 3,240 Land 13,782 13,523 13,048 11,696 Fixed Assets 3,020 3,089 3,114 3,144 Investment Properties 5,473 5,373 4,962 4,762 Others 11,799 9,972 9,921 9,031 Liabilities 20,841 18,434 17,645 16,322 Debt 9,272 9,176 8,455 7,618 Advances from customers 9,229 6,870 6,814 6,459 Others 2,340 2,388 2,375 2,245 Equity 17,043 17,762 16,644 15,551 Minority interests 2,181 2,409 2,270 2,113 Equity net of minority interests 14,862 15,352 14,374 13,438 Debt to Total Equity 54% 52% 51% 49% Net Debt to Total Equity 32% 28% 31% 28% - Business Presentation 9 Company Overview One of Indonesia’s Leading Property Developer Property Development for Sale Township Residential Condominium Office Core Business Commercial Property Development & Management Shopping Hotel ServicedServiced Office Others Mall Apartment - Business Presentation 11 Geographically Diversified Project Portfolio Kalimantan CitraGrand Senyiur City Samarinda CitraLand Banjarmasin Over 75 projects CitraGarden City Samarinda CitraGarden Banjarmasin CitraLand City Samarinda CitraGarden Aneka Pontianak in 33 cities across Medan CitraMitra City Banjarbaru CitraCity Balikpapan the nation. Pekanbaru Batam Sumatra Sulawesi CitraLand Gama City Medan Samarinda Jambi CitraPlaza Nagoya Batam CitraLand City Losari Makassar Pontianak Palu CitraLand Megah Batam Pangkal Pinang CitraLand Talassa City Makassar Balikpapan CitraRaya City Jambi Palembang CitraLand Celebes Makassar CitraLand NGK Jambi CitraGarden Makassar CitraLand Lampung Bengkulu Banjarmasin Vida View Makassar CitraGarden Lampung CitraGrand Galesong City Gowa CitraLand Palembang CitraLand Palu Banjarbaru Kendari CitraLand Pekanbaru CitraLand Kendari CitraGarden Pekanbaru Bandar CitraLand Botanical City Pangkal Lampung Makassar Pinang Cirebon Maja Jakarta Semarang Pekalongan Surabaya Bali Yogyakarta Malang Ciputra Beach Resort Denpasar Java CitraRaya Tangerang CitraGarden City Jakarta CitraLand BSB City Semarang CitraLand Surabaya CitraLand Driyorejo CBD CitraIndah City Jonggol Ciputra World Jakarta CitraGrand Semarang Ciputra World Surabaya The Taman Dayu Pandaan CitraLand Cibubur Ciputra Puri International CitraSun Garden Semarang CitraLand Vittorio Surabaya CitraHarmoni Sidoarjo Citra Sentul Raya Citra Towers Kemayoran Barsa City Yogyakarta CitraLand The Green Lake CitraGarden Sidoarjo Citra Maja Raya CitraLand Cirebon CitraSun Garden Yogyakarta Surabaya CitraIndah Sidoarjo CitraGarden BMW Cilegon CitraGarden City Malang - Business Presentation 12 Greater Jakarta Project Portfolio - Business Presentation 13 Marketing Sales Summary Historical Presales Presales per Location (Rp bn) 6M20 2020T Greater Greater Surabaya Surabaya 11% 7,640 17% Other 7,186 Greater Greater Other Java Jakarta Jakarta 6,363 Java 21% 6,131 50% 46% 2,106 3,092 18% Sumatra Sumatra 2,595 Others 15% 4,519 12% Sulawesi 2,955 1% Sulawesi 7% 2% Others 2,279 1% 5,081 2,405 4,549 2,015 3,768 920 Presales per Product 3,176 1,094 2,240 6M20 2020T 1,485 920 Shophouses 2016 2017 2018 2019 2020T 6M19 6M20 Shophouses 3% 8% Apartments Directly Owned Joint Operation Apartments 2% 4% Houses + Office Houses + Office Land Lots 4% Land Lots 2% Units 8,288 8,645 8,545 7,035 2,650 2,093 92% 86% Sold Area Sold 73 85 74 67 27 24 (Ha) - Business Presentation 14 Marketing Sales Summary Presales per Payment Method Presales per Unit Price 6% 7% 6% 6% 12% 10% 15% 15% 15% 17% 24% 21% 29% 31% 30% 32% 27% 36% 40% 37% 30% 21% 39% 24% 28% 53% 56% 49% 48% 48% 40% 43% 36% 34% 35% 2016 2017* 2018* 2019 6M20 2016 2017* 2018* 2019 6M20 Mortgage Instalment Cash < Rp1bn Rp 1-2bn Rp 2-5bn > Rp 5bn High proportion of mortgage payment due to exposure to Units below Rp2bn continue to make up majority of end-users and accessibility of mortgages presales as end-users are targeted *Note: 2017 and 2018 excludes en bloc sales to Ascott (Rp675bn) and Diener Syz - Business Presentation 15 (Rp575bn) Sufficient Land Bank to Sustain >15 Years of Development Gross Land Land ASP Ownership Land ASP Trend Project Name Bank (Rp mn per sqm) Scheme Ha 2010-13 CAGR 2013-19 CAGR 2019 CitraRaya Tangerang 100% 756 63% 9% 4.3 CitraIndah Jonggol 100% 176 17% 13% 1.8 CitraGarden City Jakarta 100% 118 48% 5% 15.6 CitraGarden Puri Jakarta 100% 18 - - 8.4 CitraLand Cibubur JV - 60% 75 - 1% 3.8 Total Greater Jakarta 1,142 CitraLand Surabaya 100% 836 33% 9% 8.9 CitraHarmoni Sidoarjo 100% 87 31% 16% 5.0 CitraGarden Sidoarjo JV - 60% 13 23% 20% 7.5 Total Greater Surabaya 936 CitraLand Lampung 100% 30 - 13% 5.2 CitraLand Palembang JV - 60% 106 - 11% 3.4 Ciputra Beach Resort JV - 60% 56 - 3% 8.5 CitraLand Pekanbaru JV - 60% 69 - 12% 5.5 CitraLand NGK Jambi JV - 51% 2 - 4% 3.3 Total Others 262 Total Land Bank 2,341 - Business Presentation 16 Rights to Additional Land Bank Through Joint-Operation Schemes Development Land ASP Development Land ASP Joint Operation Project Plan (Ha) (Rp mn per Joint Operation Project Plan (Ha) (Rp mn per sqm) sqm) Citra Sentul Raya 114 4.8 CitraGrand Senyiur City Samarinda 295 1.6 CitraLake Sawangan Depok
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