Results Presentation (12M19) Results Summary (Income Statement) (Rp - PowerPoint PPT Presentation

Results Presentation (12M19)

Results Summary (Income Statement) (Rp bn) 12M19 12M18 % YoY Effect of -3% YoY in Property Development segment and Revenue 7,608 7,670 -1% +8% YoY in Recurring segment COGS (3,816) (4,042) -6% Gross Profit 3,792 3,628 5% Gross Profit Margin 50% 47% Effect of product mix Operating Expense (1,636) (1,583) 3% Operating Profit 2,155 2,045 5% Operating Profit Margin 28% 27% Effect of lower capitalized borrowing cost due to project Interest Income (Expense) - Net (563) (480) 17% completion and higher total borrowing Other Income (Expense) - Net (37) 40 -193% Final Tax and Income Tax (272) (302) -10% Net Income Before Non-Controlling Interest 1,283 1,303 -1% Non-Controlling Interest (125) (117) 7% Net Income Attributable to Owners 1,158 1,185 -2% Net Profit Margin 15% 15% 2 - Business Presentation

Results Summary (Revenue Breakdown and Margin Performance) (Rp bn) 12M19 12M18 % YoY Revenue Breakdown Property Development Revenue 5,679 5,880 -3% Houses, shophouses, and land lots 4,200 4,042 4% Apartments 877 1,353 -35% High base from recognition of en bloc sale to Ascott in 2018 (Rp675bn) Office for sale 601 484 24% Recognition from Ciputra World Surabaya office and SOHO Recurring Revenue 1,930 1,790 8% Shopping malls 745 745 0% Hotels 491 490 0% Hospitals 338 243 39% Improving patient volume Office leasing 184 158 16% New contribution from Tokopedia Care Tower Others 173 155 12% Total Revenue 7,608 7,670 -1% Margin Performance Property Development GPM 49% 48% Houses, shophouses, and land lots 52% 52% Apartments 37% 31% Effect of product mix Office towers 45% 36% Recurring GPM 52% 51% Shopping malls 61% 61% Hotels 43% 43% Hospitals 43% 41% Office leasing 62% 56% Improving margin across all office segment portfolio Others 45% 43% Total GPM 50% 47% 3 - Business Presentation

Results Summary (Revenue per Segment and per Location) Revenue per Location (12M19) Revenue per Segment (12M19) Greater Apartment Surabaya Office Strata Strata 31% 8% 12% Shopping Malls 10% Hotels 6% Other Java 11% Others 9% Sumatra 6% Houses, Sulawesi shophouses, and Greater Jakarta 2% land lots Others 48% 55% 2% • • Development = 75% (Houses + Apartments + Office) Sustained focus on geographically diversified • revenue sources to minimize concentration risk Recurring = 25% (Malls + Hotels + Hospitals + Office) 4 - Business Presentation

Results Summary (Historical Revenue Breakdown) Development vs. Recurring Revenue Rp tn 9.00 8.00 7.00 1.4 1.8 1.9 27% 6.00 1.6 1.1 23% 1.7 25% 5.00 24% 18% 4.00 18% 6.1 3.00 5.9 5.7 5.2 5.1 4.7 2.00 1.00 - 2014 2015 2016 2017 2018 2019 Development Revenue Recurring Revenue Recurring as % of Total Revenue • Continued focus on high-growth core development business and complemented by stable recurring assets 5 - Business Presentation

Debt Profile As of Dec-19 Fixed SGD Floating Rupiah 18% 20% Total Borrowings: Rp9.2tn 79% 82% USD 1% (Rp tn) Maturity Profile (% of total debt) 2.5 26% 2.0 Borrowing Cost* 16% 12.7% 12.1% 16% 1.5 11.7% 13% 10.3% 10.2% 10.4% 1.0 9% 8% 7% 4% 0.5 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. 6 - Business Presentation

Capex Schedule Mall 38% Historical Capex Rp tn Office for Lease 3% 2.1 2.0 Hotel 12M19 1% 1.3 1.1tn 1.1 0.9 Others 14% Land for Development 2015 2016 2017 2018 2019 44% • Increased mall capex due to the construction of CitraRaya Tangerang, CitraLand Surabaya, and Ciputra World Surabaya malls 7 - Business Presentation

Financial Highlights Revenue Gross Profit (Rp bn) (Rp bn) 3,792 3,724 3,628 3,330 3,290 7,670 7,514 7,608 2,997 6,739 6,443 6,340 53% 50% 50% 49% 47% 47% 2014 2015 2016 2017 2018 2019 Gross Profit Gross Margin 2014 2015 2016 2017 2018 2019 Key Ratios Net Profit (Rp bn) 2.2 1,685 1,645 2.0 1.9 1.9 1.6 1.5 1.4 1.4 1,158 1,185 27% 1,021 894 31% 22% 28% 28% 22% 17% 10% -7% -15% 15% 15% 15% 14% 2012 2013 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019 Current Ratio Net Debt to Equity Net Profit Net Margin 8 - Business Presentation

Balance Sheet Summary Rp bn Dec 2019 Dec 2018 Dec 2017 Dec 2016 Assets 36,196 34,289 31,872 29,169 Cash & cash equivalents 4,238 3,243 3,240 3,471 Land 13,523 13,048 11,696 10,109 Fixed Assets 3,089 3,114 3,144 3,034 Investment Properties 5,373 4,962 4,762 4,908 Others 9,972 9,921 9,031 7,647 Liabilities 18,434 17,645 16,322 14,787 Debt 9,176 8,455 7,618 6,662 Advances from customers 6,899 6,814 6,459 5,851 Others 2,360 2,375 2,245 2,274 Equity 17,762 16,644 15,551 14,382 Minority interests 2,409 2,270 2,113 1,688 Equity net of minority interests 15,352 14,374 13,438 12,694 Debt to Total Equity 52% 51% 49% 46% Net Debt to Total Equity 28% 31% 28% 22% 9 - Business Presentation

Company Overview

One of Indonesia’s Leading Property Developer Property Development for Sale Township Residential Condominium Office Core Business Commercial Property Development & Management Serviced Shopping Hotel Office Others Serviced Mall Apartment Apartment 11 - Business Presentation

Geographically Diversified Project Portfolio Kalimantan Over 75 projects CitraGrand Senyiur City Samarinda CitraLand Banjarmasin in 33 cities across CitraGarden Banjarmasin CitraGarden City Samarinda CitraLand City Samarinda CitraGarden Aneka Pontianak the nation. Medan CitraMitra City Banjarbaru CitraCity Balikpapan Pekanbaru Batam Sumatra Sulawesi CitraLand Gama City Medan Samarinda Jambi CitraPlaza Nagoya Batam CitraLand City Losari Makassar Pontianak Palu CitraLand Megah Batam CitraLand Talassa City Makassar Pangkal Pinang Balikpapan CitraRaya City Jambi CitraLand Celebes Makassar Palembang CitraLand NGK Jambi CitraGarden Makassar CitraLand Lampung Bengkulu Vida View Makassar Banjarmasin 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 Jakarta Maja 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 Ciputra Puri International CitraLand Cibubur CitraSun Garden Semarang CitraLand Vittorio Surabaya CitraHarmoni Sidoarjo Citra Towers Kemayoran Citra Sentul Raya 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 12 - Business Presentation

Greater Jakarta Project Portfolio 13 - Business Presentation

Marketing Sales Summary Historical Presales Presales per Location 2019 3M20 (Rp bn) Greater Greater Other Surabaya Surabaya Java 7,640 23% 21% 17% Other 7,186 431 Java Sumatra 480 10% 6,363 9% Greater 6,131 172 Jakarta Sumatra Greater Sulawesi 306 1,625 2,661 48% 9% Jakarta 12% Sulawesi 38% Others 2,423 9% 1% 2,650 Others 3% 5,081 Presales per Product 4,549 3,768 1,139 3,176 1,114 3M20 2019 71 118 520 487 524 534 Shophouses Shophouses 12% 2016 2017 2018 2019 3M19 3M20 6% Apartments Apartments 8% Directly-Owned JO - Profit Sharing JO - Revenue Sharing 2% Office Office 4% Houses + Houses + 4% Land Lots Land Lots Units Sold 8,645 8,545 7,035 1,307 777 76% 89% Area Sold 85 74 67 13 11 (Ha) 14 - Business Presentation

Marketing Sales Summary Presales per Payment Method Presales per Unit Price 6% 6% 7% 7% 10% 12% 15% 15% 15% 17% 21% 24% 29% 35% 30% 32% 40% 36% 32% 37% 30% 21% 39% 24% 32% 53% 51% 49% 48% 48% 43% 40% 36% 34% 26% 2016 2017* 2018* 2019 3M20 2016 2017* 2018* 2019 3M20 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: 2015, 2017, 2018 excludes en bloc sales to Ascott (Rp835bn and Rp675bn) 15 - Business Presentation and Diener Syz (Rp575bn)