Professional Documents
Culture Documents
SMRA Presentation 2014 02
SMRA Presentation 2014 02
A Company
Presentation
February 2014
Contents
HO : Plaza Summarecon
Slide
No.
1. Plans for 2014 3‐4
2. Corporate Information 5
3. Management 6‐8
4. Principal Activities 9
5. Township Locations 10
6. Summarecon Kelapa Gading 11‐12
7. Summarecon Serpong 13‐16
8. Summarecon Bekasi 17‐18
9. Investment Properties 19‐29
10. Corporate Structure 30
11.1 Income Statement : Consolidated Results 31‐35
11.3 Key Financial Indicators 36 Slide
No.
11.4 Land Bank 37
14. Outlook 42
11.5 Capital Investments 38
15. Moving Forward 43
12. Net Asset Value 39
16. Consistent Value to Shareholders 44
13. Summarecon’s Competitiveness 40‐41
17. Contact us 45
18. Disclaimer 46
19. Appendix : Product Specifications 47‐51
2
Plans for 2014 : Property Development
Σ 4.0
Σ 3.9 ‐ Σ 3.7 9%
IDR’ Tr 4%
28%
Σ 3.0
SBD
39%
Σ 2.2
79% UNIT SALES
SSP
Σ 2,700
Σ 1.2
SBD
32% Σ 1,974
SBK
Σ 1,841
Σ 1,747
SSP
SKG
Σ 1,117
Σ 983
SBK
SKG
3
4
Corporate Information
Incorporation Date : 26 Nov 1975 IPO Date : 7 May 1990 Ticker : SMRA.IJ
Share Capital @ 31 Jan 2014 : Total Shares in Issue = 14,426,781,680 @ Rp 100/share
: Total Paid‐up = Rp 1.44 tr (~USD 125 mn)
JOHANES MARDJUKI
[President Director]
GE LILIES YAMIN
[Non‐affiliated Director] LILIAWATI RAHARDJO
HERMAN NAGARIA
[Technical] [Managing Director]
SOEGIANTO NAGARIA [Business & Property
[Retail Operations] Development]
YONG KING CHING, MICHAEL LEXY ARIE TUMIWA SHARIF BENYAMIN ADRIANTO ADHI [Kelapa
[Finance Director, CoSec] [Corporate Services] [Serpong Operations] Gading & Bekasi Operations]
7
JOHANES MARDJUKI (54) LEXY ARIE TUMIWA (65) ADRIANTO PITOYO ADHI (54) SOEGIANTO NAGARIA (41)
President Director Director ‐ Corporate Services Director – Kelapa Gading, Bekasi Director – Investment Property
Appointed President Director in Appointed Director in June 1993. Appointed Director in June 2013. Appointed Director in June 2006.
June 2006. Previously served as Previously served as Assistant Joined in the Company as Since joining the Company in 1997,
Director of Finance and Accounting Director in corporate and Executive Director (operations he has served in various
from 2003. Joined the Company in operational functions. Joined director) in 2005. Joined PT managerial positions in business
1993 as Corporate Secretary. Prior Company in 1987. Prior to joining Metropolitan Land in 1997 as development, club management
to joining Summarecon, he was the Summarecon, he held managerial General Manager., then promoted and retail leasing.
Finance Director of Grup Garuda positions at PT. Ponderosa Pelangi to Director from 2002. From 1986
Mas. and Holland America Cruises to 1997, worked in a number of
companies in the property
industry.
LILIAWATI RAHARDJO (64)
HERMAN NAGARIA (37)
Managing Director YONG KING CHING, MICHAEL (54)
Director – Business & Property
Appointed Director in June 2002. Director – Finance,
SHARIF BENYAMIN (53) Development
Was a Commissioner from 1992 to Corporate Secretary
1997, and then the President Director – Serpong Appointed Director in June 2006.
Appointed Director in May 2010.
Commissioner from 1997 to 2001 Previously served as Assistant
Joined in 1994 as Company Appointed Director in June 2013.
before assuming an executive role Director in Business
Secretary till 1998, and returned to Joined the Company as Executive
as Managing Director in 2002. Development from 2003, and has
Company in 2006. Worked in PwC Director (operations director) for
worked in various managerial
1979 – 1988, Ernst & Whinney Serpong in 2005. Worked in the
positions since joining the
GE LILIES YAMIN (59) London 1988 – 1990, Bank construction industry as an
Company in 1999.
Dharmala 1990 – 1994, and employee and as an entrepreneur
Director – Technical & Planning Hexagon Malaysia in 2000 as FC, contractor from 1985 to 2004.
Appointed Director in June 2006. then as FD in 2001
Previously served as Technical
Assistant Director from 2003.
Joined the Company in 1981. She
has worked as an architect in
numerous companies since 1976.
8
Principal Activities
Leisure
9
Township Locations
Summarecon
Kelapa Gading
Distance =17 km
SCBD
Summarecon Summarecon
Serpong Bekasi
Distance =28 km Distance =26 km
10
SUMMARECON KELAPA GADING
Started in 1976
Acreage = Original 500 ha. Now 550 ha
Area already developed =540 ha (97%)
Available landbank to develop = 10 ha
Development period ~ 5 years
Already developed :
> 30,000 residential houses
> 2,100 shoplots
> 1,350 apartment units
Investment Properties :
Sentra Kelapa Gading
Harris Hotel Kelapa Gading
Klub Kelapa Gading
Summerville Apartments
Kensington
Plaza Summarecon (Head Office)
Menara Satu (Office)
11
* Development plan and values are subject to change according to the prevailing market conditions
Sherwood Apartments
12
SUMMARECON SERPONG
Started in 1993
Acreage = 750 ha (our portion)
Area already developed =250 ha (33%)
Available landbank to develop = 500 ha
Development period ~ 10 years
Already developed :
> 11,000 residential houses
> 1,300 neighbourhood shoplots
> 1,000 residential landplots
Investment Properties :
Summarecon Mal Serpong
St Carolus Hospital Serpong
13
Scientia Garden
150 ha residential & commercial development 2014 Edison
Remaining 80 ha for future development
2008 Newton
Development period = 10 years from 2008 to 2010 Pascal
2017
Already sold 21% of project total development 2010 Darwin
2011 Scientia
value
Concept includes investment properties :‐
Summarecon Digital Centre @ Serpong 2012 Aristoteles
Scientia Garden Village
2013 Volta 2009 Dalton
Scientia Convention Centre
Scientia Business Park
2013 Maxwell
Universitas
Multimedia
2014 Faraday Nusantara
Scientia Business
Park
10 Ha Investment
Properties
14
Summarecon Serpong : Current & Future Projects
Scientia Garden
Estimated Development Values
Launch 1st Launch Complete Project Total Sold in FY2014 Project Balance %
Cluster Name Product Type
Year Date Date Units Sale Value Units Sale Value Units Sale Value Sold
Rp'Bn Rp'Bn Rp'Bn
Newton [House, Shop] Residential 2008 Nov‐08 May‐10 309 202 0 0 0 0 100%
Dalton Residence Residential 2009 Nov‐09 May‐11 218 173 0 0 0 0 100%
Darwin Residence Residential 2010 May‐10 Nov‐11 148 120 0 0 0 0 100%
Pascal [House, Shop] Residential 2010 May‐10 Nov‐11 234 278 0 0 0 0 100%
Scientia Residence A,B Residential 2011 May‐11 Nov‐13 563 169 0 0 0 0 100%
Scientia Residence C,D Residential 2012 Jun‐12 Feb‐14 562 200 0 0 0 0 100%
Scientia Residence Ruko Commmercial 2012 May‐12 Jan‐14 24 45 0 0 0 0 100%
Ruko Dalton Commmercial 2012 May‐12 Nov‐13 37 148 0 0 0 0 100%
Aristoteles [Land, house] Residential 2012 Aug‐12 Aug‐13 188 530 0 0 0 0 100%
Volta Residence Residential 2013 Mar‐13 Sep‐14 168 360 0 0 100%
Darwin Commercial Commmercial 2013 Apr‐13 Oct‐14 89 310 0 0 100%
Maxwell Residence [1] Residential 2013 Oct‐13 Jun‐15 92 245 (16) (43) 0 0 100%
Maxwell Residence [2] Residential 2014 Jul‐14 Mar‐16 109 309 0 0 109 309 0%
Faraday Residence Residential 2014 Mar‐14 Sep‐15 370 719 0 0 370 719 0%
Edison Residence Residential 2014 Apr‐14 Oct‐15 170 255 0 0 170 255 0%
Pascal Ruko Ext Commmercial 2014 Nov‐14 May‐16 39 140 0 0 39 140 0%
Scientia Apartments [Towers 1,2] Residential 2014 May‐14 May‐17 586 290 0 0 586 290 0%
Scientia Apartments [Towers 3,4] Residential 2015 Jan‐15 Jul‐16 586 319 0 0 586 319 0%
Scientia Heights 1,2 Residential 2016 Jan‐16 Jul‐17 586 350 0 0 586 350 0%
Scientia Heights 3,4 Residential 2016 Oct‐16 Apr‐18 586 385 0 0 586 385 0%
Scientia Heights 5,6 Residential 2017 Apr‐17 Oct‐18 587 425 0 0 587 425 0%
Residential ‐ 5 Clusters (2015++) Residential Jan‐14 Jul‐15 1,863 7,097 1,863 7,097 0%
Commercial ‐ 5 Blocks (2015++) Commmercial Jan‐14 Jul‐15 31 608 26 548 10%
TOTAL 8,145 13,676 (16) (43) 5,508 10,837 21%
* Development plan and values are subject to change according to the prevailing market conditions
15
* Development plan and values are subject to change according to the prevailing market conditions
2010
Grisea
2011 The Springs
Scarlet
100 ha residential development
Available 50 ha for future development
Development period = 7 years from 2010 to
2010 2013
Canary Pelican
2017
2011 Sold 24% of project total
Starling
2012
Goldfinch
16
SUMMARECON BEKASI
17
Summarecon Bekasi : Current & Future Projects (for 1st 240 ha)
Estimated Development Values
Launch 1st Launch Complete Project Total Sold in FY2014 Project Balance %
Cluster Name Product Type
Year Date Date Units Sale Value Units Sale Value Units Sale Value Sold
Rp'Bn Rp'Bn Rp'Bn
R1 Palm Residential 2010 Apr‐10 Oct‐11 287 185 0 0 0 0 100%
R3 Maple Residential 2010 Apr‐10 Oct‐11 231 214 0 0 0 0 100%
R2 Acacia Residential 2010 Oct‐10 Apr‐12 266 213 0 0 0 0 100%
Block S Sinpasa Commercial 1 Commmercial 2011 May‐11 Nov‐12 94 242 0 0 0 0 100%
R9 Lotus Lakeside Residential 2011 Oct‐11 Apr‐13 203 322 0 0 0 0 100%
R5 Magnolia Residential 2011 Oct‐11 Apr‐13 251 259 0 0 0 0 100%
Emerald Commercial Commmercial 2012 Mar‐12 Sep‐13 174 448 0 0 0 0 100%
R6 Bluebell Residential 2012 Jul‐12 Jan‐14 253 329 0 0 0 0 100%
R4 Veronia Residential 2013 Apr‐13 Oct‐14 193 530 0 0 0 0 100%
S1 Graha Bulevar Bekasi Commmercial 2013 Jul‐13 Jan‐15 27 237 0 0 0 0 100%
S2 Topaz Commercial Commmercial 2013 Jul‐13 Jan‐15 37 213 0 0 0 0 100%
Cluster R7 Lakeside Residential 2014 Sep‐14 Mar‐16 194 696 0 0 194 696 0%
SpringLake Apartments Residential 2014 Apr‐14 Apr‐17 2,175 829 0 0 2,175 829 0%
Shoplot S3 Commmercial 2014 Jun‐14 Dec‐15 47 292 0 0 47 292 0%
Houses ‐ 8 Clusters (2015++) Residential Jan‐14 1,641 10,601 0 0 1,641 10,601 0%
Apartments ‐ 100 Towers (2015++) Residential Jan‐14 30,295 42,226 30,295 42,226 0%
Commercial (2015++) Commmercial Jan‐14 140 1,651 0 0 140 1,651 0%
TOTAL 36,508 59,487 0 0 34,492 56,295 5%
* Development plan and values are subject to change according to the prevailing market conditions
18
INVESTMENT PROPERTIES [Pg 1]
PROPERTIES IN SUMMARECON KELAPA GADING [SKG]
SENTRA KELAPA GADING OTHER PROPERTIES
Mal Kelapa Gading Plaza Summarecon [Head office]
La Piazza, Gading Food City Menara Satu [office]
(GFA 200,000 m2, NLA 125,000 m2) The Orchard Junction [Retail with Giant
Supermarket as anchor tenant]
Harris Hotel Kelapa Gading
Summerville Apartments [serviced
Pop! Hotel Kelapa Gading [CIP] residential]
Klub Kelapa Gading [recreational club]
Pertamina Petrol Station @ Grand Orchard
Harris Hotel Kelapa Gading Mal Kelapa Gading
21
22
Gading Food City SCIENTIA SQUARE, SERPONG
23
75% occupancy with anchor tenants; Star Food & Beverage 11%
Dept Store, Sogo’s Foodhall supermarket, Leisure & Entertainment 10%
Best Denki electrical households, Cinema Services & Others 8%
XXI, Time Zone games arcade
Dev Cost = Rp 550bn
Revenues :‐
• Lease Rent : USD 10‐70 /m2/mth for
specialty stores
• Average rent : USD 21 /m2/mth [Rp
150,000]
• Service Charge : USD 13 /m2/mth [Rp
91,000]
• Rents paid in Rp at pegged rate Rp
7,000
25
Strategy based on selective devlopment wherein there is a stable [& recurring] captive market.
HARRIS HOTEL KELAPA GADING POP! HOTEL KELAPA GADING HARRIS HOTEL BEKASI
300 rooms 4‐star city hotel 260 rooms budget city 350 rooms 4‐star city hotel
Catchment : Kelapa Gading, hotel
Catchment : Bekasi and
Sunter, Pulo Gadung Catchment : Kelapa Gading, industrial estates,
Revenues : Sunter, Pulo Gadung Cikarang, Karawang
− Room rates ~ Rp 650,000 Under construction, to Under construction, to
/ night open in 2014Q2 open in 2014Q3
− > 90% occupancy Dev Cost = Rp 100 bn Dev Cost = Rp 200 bn
Room rates ~ Rp 300,000 / Room rates ~ Rp 650,000 /
night [indicative] night [indicative]
26
Hospitality Business – Resort Hotel
− Membership : 800
Gading Raya Sports Club
− Recreational community club
− Membership : 200 (+ 800 from Golf Club)
St Carolus Hospital Serpong
− 70‐bed Women and Child hospital that provides affordable medical
care to the community
Golf Club
The Springs Club [Under construction]
− Recreational community club
29
Corporate Structure
99%
PT Serpong Cipta Kreasi Develops Summarecon Serpong (SSP)
100%
PT Lestari Mahadibya • Manages Summarecon Mal Serpong
100%
PT Makmur Orient Jaya • Manages Summarecon Mal Bekasi
REVENUE 1,695 2,359 3,463 851 1,073 1,117 44 4% 2,199 3,041 841 38%
COS / DIRECT COST (891) (1,241) (1,782) (318) (451) (565) (113) 25% (1,023) (1,334) (311) 30%
GROSS PROFIT 804 1,118 1,681 533 622 552 (70) ‐11% 1,177 1,707 530 45%
OVERHEADS (318) (448) (539) (134) (243) (174) 69 ‐28% (466) (550) (84) 18%
‐ Selling Expense (93) (126) (148) (42) (65) (35) 31 ‐47% (143) (142) 1 0%
‐ Administrative Expense (249) (319) (417) (95) (181) (145) 36 ‐20% (339) (421) (82) 24%
‐ Other Expense/Income 23 (3) 27 4 4 5 2 44% 17 13 (4) ‐22%
EBITDA 486 670 1,142 399 379 378 (1) 0% 711 1,156 445 63%
Less : Depreciation (85) (106) (131) (33) (34) (47) (13) 38% (97) (114) (17) 17%
EBIT 400 564 1,011 366 345 331 (14) ‐4% 614 1,042 429 70%
Add : Net Finance Income/(Expense) (55) (35) (22) (1) 4 (5) (9) ‐204% (31) (1) 30 ‐96%
Add : Non‐Operating Income/(Expense) (1) 1 (2) 2 (2) 0 2 ‐100% (0) 0 0 ‐100%
Less : Taxation (110) (142) (194) (47) (58) (61) (2) 4% (126) (166) (40) 32%
PROFIT FOR THE YEAR (PAT) 234 389 792 319 290 266 (24) ‐8% 457 875 418 92%
Gross Profit Margin 47% 47% 49% 63% 58% 49% ‐8% 54% 56% 3%
Overheads Ratio 19% 19% 16% 16% 23% 16% ‐7% 21% 18% ‐3%
EBITDA Margin 29% 28% 33% 47% 35% 34% ‐1% 32% 38% 6%
EBIT Margin 24% 24% 29% 43% 32% 30% ‐2% 28% 34% 6%
NET PROFIT Margin 14% 16% 23% 38% 57% 24% ‐33% 21% 29% 8%
YoY% Growth ‐ Revenues 42% 39% 47% 4%
YoY% Growth ‐ EBITDA 22% 38% 70% 64%
YoY% Growth ‐ EBIT 23% 41% 79% 72%
YoY% Growth ‐ Profit For The Year 39% 66% 104% 116%
31
Investment Property
= 33%
Investment Property
= 24%
32
Income Statement : Property Development [Sales of residential & commercial properties]
PROP DEV (YTD) VARIANCE (vs Preceding Qtr) VARIANCE [vs Last Year Qtr‐To‐Date]
INCOME STATEMENTS
FY 2010 FY 2011 FY 2012 2013Q1 2013Q2 2013Q3 2013Q3 vs 2013Q2 2012Q3 2013Q3 2013Q3 vs 2012Q3
Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn
REVENUE 1,158 1,660 2,504 597 791 815 24 3% 1,528 2,204 676 44%
COS / DIRECT COST (706) (968) (1,395) (210) (321) (399) (78) 24% (772) (930) (158) 20%
GROSS PROFIT 452 692 1,109 387 470 416 (54) ‐11% 756 1,274 518 69%
OVERHEADS (194) (276) (315) (86) (134) (99) 35 ‐26% (294) (319) (25) 8%
‐ Selling Expense (73) (87) (89) (32) (47) (25) 22 ‐47% (106) (105) 1 ‐1%
‐ Administrative Expense (141) (188) (242) (58) (91) (84) 8 ‐8% (199) (233) (34) 17%
‐ Other Expense/Income 21 (1) 16 4 5 10 5 101% 11 19 8 72%
EBITDA 258 415 795 301 337 318 (19) ‐6% 462 955 493 107%
Less : Depreciation (22) (25) (26) (6) (6) (8) (1) 22% (21) (20) 1 ‐2%
EBIT 236 391 769 295 330 310 (20) ‐6% 441 935 494 112%
Add : Net Finance Income/(Expense) (27) (2) 25 7 15 9 (6) ‐38% 6 31 25 439%
Add : Non‐Operating Income/(Expense) (2) 1 1 1 3 (3) (5) ‐195% (0) 1 2 ‐700%
Less : Taxation (62) (95) (134) (30) (40) (42) (1) 3% (78) (112) (34) 44%
PROFIT FOR THE YEAR (PAT) 144 294 661 273 307 275 (33) ‐11% 369 855 486 132%
Gross Profit Margin 39% 42% 44% 65% 59% 51% ‐8% 49% 58% 8%
Overheads Ratio 17% 17% 13% 14% 17% 12% ‐5% 19% 14% ‐5%
EBITDA Margin 22% 25% 32% 50% 43% 39% ‐4% 30% 43% 13%
EBIT Margin 20% 24% 31% 49% 42% 38% ‐4% 29% 42% 14%
NET PROFIT Margin 12% 18% 26% 46% 39% 34% ‐5% 24% 39% 15%
YoY% Growth ‐ Revenues 59% 43% 51% ‐1%
YoY% Growth ‐ EBITDA 30% 61% 91% 94%
YoY% Growth ‐ EBIT 34% 65% 97% 101%
YoY% Growth ‐ Profit For The Year ‐4% 104% 125% 145%
33
Income Statement : Investment Property [Retail Mall, Office, Residential & Commercial properties]
INVEST PROP (YTD) VARIANCE (vs Preceding Qtr) VARIANCE [vs Last Year Qtr‐To‐Date]
INCOME STATEMENTS
FY 2010 FY 2011 FY 2012 2013Q1 2013Q2 2013Q3 2013Q3 vs 2013Q2 2012Q3 2013Q3 2013Q3 vs 2012Q3
Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn
REVENUE 459 574 747 194 202 213 11 6% 525 610 84 16%
COS / DIRECT COST (145) (221) (272) (80) (77) (104) (27) 35% (200) (262) (62) 31%
GROSS PROFIT 314 352 475 114 125 109 (16) ‐13% 326 348 22 7%
OVERHEADS (94) (118) (155) (25) (84) (41) 43 ‐51% (113) (150) (38) 33%
‐ Selling Expense (16) (35) (55) (9) (17) (7) 10 ‐57% (34) (34) 0 ‐1%
‐ Administrative Expense (75) (82) (110) (16) (67) (28) 40 ‐59% (83) (111) (28) 34%
‐ Other Expense/Income (2) (1) 10 0 0 (6) (6) ‐8577% 4 (6) (10) ‐243%
EBITDA 220 234 320 89 40 68 28 69% 213 197 (16) ‐7%
Less : Depreciation (51) (58) (76) (19) (19) (32) (13) 67% (55) (71) (16) 29%
EBIT 169 177 244 69 21 36 15 70% 158 127 (32) ‐20%
Add : Net Finance Income/(Expense) (29) (30) (42) (8) (7) (17) (10) 133% (35) (33) 2 ‐5%
Add : Non‐Operating Income/(Expense) 1 0 (3) 0 (4) 4 9 ‐193% 0 0 (0) ‐93%
Less : Taxation (47) (51) (65) (17) (18) (19) (1) 5% (48) (54) (6) 13%
PROFIT FOR THE YEAR (PAT) 94 97 135 45 (9) 4 13 ‐145% 76 40 (36) ‐48%
Gross Profit Margin 68% 61% 64% 59% 62% 51% ‐11% 62% 57% ‐5%
Overheads Ratio 20% 21% 21% 13% 42% 19% ‐23% 21% 25% 3%
EBITDA Margin 48% 41% 43% 46% 20% 32% 12% 41% 32% ‐8%
EBIT Margin 37% 31% 33% 36% 11% 17% 6% 30% 21% ‐9%
NET PROFIT Margin 20% 17% 18% 23% ‐4% 2% 6% 14% 7% ‐8%
YoY% Growth ‐ Revenues 9% 25% 30% 15%
YoY% Growth ‐ EBITDA 12% 6% 36% 14%
YoY% Growth ‐ EBIT 12% 4% 38% 14%
YoY% Growth ‐ Profit For The Year 490% 3% 40% 33%
34
Income Statement : Leisure & Hospitality
L & H (YTD) VARIANCE (vs Preceding Qtr) VARIANCE [vs Last Year Qtr‐To‐Date]
INCOME STATEMENTS
FY 2010 FY 2011 FY 2012 2013Q1 2013Q2 2013Q3 2013Q3 vs 2013Q2 2012Q3 2013Q3 2013Q3 vs 2012Q3
Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn
OVERHEADS (24) (37) (35) (12) (7) (20) (13) 194% (29) (39) (10) 34%
‐ Selling Expense (3) (4) (4) (1) (1) (2) (1) 149% (3) (4) (1) 16%
‐ Administrative Expense (23) (32) (31) (11) (3) (21) (18) 543% (30) (36) (6) 20%
‐ Other Expense/Income 2 (1) (0) 0 (3) 3 6 ‐212% 4 0 (3) ‐88%
EBITDA 10 24 41 11 8 9 1 17% 39 28 (11) ‐28%
Less : Depreciation (11) (19) (21) (5) (5) (5) 0 ‐1% (15) (15) (0) 0%
EBIT (1) 5 20 6 3 4 1 50% 24 13 (11) ‐46%
Add : Net Finance Income/(Expense) 0 (2) (2) (0) (0) (0) 0 ‐61% (2) (1) 1 ‐64%
Add : Non‐Operating Income/(Expense) (0) (0) (0) (0) 0 (0) (0) ‐485% 0 (0) (0) ‐358%
Less : Taxation 0 1 (0) (0) (0) 0 0 ‐143% (0) (0) (0) 1222%
PROFIT FOR THE YEAR (PAT) (0) 4 17 6 2 4 2 89% 22 12 (10) ‐45%
Gross Profit Margin 52% 58% 59% 75% 40% 101% 62% 76% 69% ‐7%
Overheads Ratio 36% 35% 27% 39% 18% 70% 51% 32% 40% 8%
EBITDA Margin 16% 23% 31% 36% 21% 32% 11% 44% 29% ‐15%
EBIT Margin ‐1% 5% 16% 20% 7% 14% 7% 27% 13% ‐13%
NET PROFIT Margin ‐1% 4% 13% 19% 6% 14% 8% 24% 12% ‐12%
YoY% Growth ‐ Revenues 109% 59% 24% 6%
YoY% Growth ‐ EBITDA 285% 134% 68% 3%
YoY% Growth ‐ EBIT ‐156% ‐1092% 300% 5%
YoY% Growth ‐ Profit For The Year ‐140% ‐985% 364% 19%
35
TOTAL ASSETS 6,140 8,099 10,876 11,272 12,753 13,032 280 2% 9,963 13,032 3,069 31%
TOTAL LIABILITIES 3,982 5,622 7,061 7,134 8,636 8,656 20 0% 7,092 8,656 1,565 22%
SHARE CAPITAL 687 687 721 721 721 1,443 721 100% 687 1,443 755 110%
TOTAL EQUITY 2,158 2,477 3,815 4,138 4,116 4,376 260 6% 2,872 4,376 1,504 52%
NON‐CONTROLLING INTERESTS 18 13 177 179 176 167 (8) ‐5% 103 167 64 62%
TOTAL DEBT BORROWINGS 773 1,140 1,122 1,388 1,381 1,848 467 34% 1,117 1,848 731 65%
Less : CASH & Equivalents (1,232) (1,592) (2,518) (2,350) (2,786) (2,673) 113 ‐4% (2,116) (2,673) (557) 26%
NET DEBT (459) (452) (1,396) (962) (1,405) (825) 580 ‐41% (999) (825) 174 ‐17%
TOTAL DEBT TO EQUITY 36% 46% 29% 34% 34% 42% 9% 39% 42% 3%
NET DEBT TO EQUITY 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
INTEREST COVER 7.2 16.2 45.2 388.2 (78.0) 72.0 150.0 19.9 931.1 911.2
RETURN ON EQUITY (Annualised) 10.9% 15.7% 20.8% 7.7% 14.8% 20.0% 5.2% 15.9% 20.0% 4.1%
RETURN ON ASSETS (Annualised) 3.8% 4.8% 7.3% 2.8% 4.8% 6.7% 1.9% 4.6% 6.7% 2.1%
BOOK VALUE PER SHARE Rp 148 Rp 359 Rp 252 Rp 274 Rp 273 Rp 292 Rp 19 7% Rp 192 Rp 292 Rp 100 52%
SHARE PRICE Rp 545 Rp 620 Rp 1,000 Rp 1,238 Rp 1,290 Rp 930 Rp (360) ‐28% Rp 840 Rp 930 Rp 90 11%
EPS (Annualised) Rp 16 Rp 57 Rp 55 Rp 89 Rp 85 Rp 81 Rp (3) ‐4% Rp 43 Rp 81 Rp 39 90%
DIVIDENDS PER SHARE Rp 10 Rp 23 Rp 43 Rp ‐ Rp ‐ Rp ‐ Rp ‐ 0% Rp ‐ Rp ‐ Rp ‐ 0%
DIVIDEND PAYOUT RATIO 29.2% 40.3% 38.9% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
P/E RATIO (Annualised) 33.4 X 10.9 X 18.1 X 13.9 X 15.2 X 11.4 X ‐3.8 X 19.7 X 11.4 X ‐8.2 X
PRICE TO BOOK RATIO 3.7 X 1.7 X 4.0 X 4.5 X 4.7 X 3.2 X ‐1.5 X 4.4 X 3.2 X ‐1.2 X
36
Landbank, Planned Acquisitions
Business % Gross Area Planned Acquisitions
Location
Structure Ownership 31‐Dec‐13 2014 2015
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Summarecon’s Competitiveness
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Moving Forward
Corporate objective
Assure appropriate returns to our stakeholders; customers, shareholders, government
authorities, business associates , and employees
Strengthen market position in property development
Continue to focus on developments within our two townships, and to ramp up development in
the newly started 3rd township
Offer innovative products in developing residential projects
Timely and assured delivery of these quality products to our customers, thereby further
enhancing the Summarecon brand and its products
Large landbank allows us the flexibility to market products appropriate to the prevailing market
conditions
Strengthen market position in property investment
Expand our portfolio of investment properties within our townships
In the mid‐ to long‐term, to develop new products and businesses
Offer innovative programs to attract visitors to our shopping and life‐style properties, thereby
deriving values for our tenants and customers
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IDX
SMRA
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End To contact us ……………………..
Investor Relations
Johanes Mardjuki
President Director
johanes.m@summarecon.com
Michael Yong
Finance Director / Corporate Secretary
michaelyong@summarecon.com
Jemmy
Investor Relations Manager
jemmy@summarecon.com
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Disclaimer
We caution investors that all statements other than statements of historical fact included in this document,
including without limitation, those regarding our financial position, business strategy, plans and objectives of
management for future operations (including development plans and objectives relating to our existing and
future products), are forward‐looking statements.
Such forward‐looking statements involve known and unknown risks, uncertainties and other factors, which
may cause our actual results, performance or achievements, or industry results, to be materially different
from any future results, performance or achievements expressed or implied by such forward‐looking
statements.
Such forward‐looking statements are based on numerous assumptions regarding our present and future
business strategies and the environment in which we expect to operate in the future.
We expressly disclaim any obligation or undertaking to release publicly any update of or revisions to any
forward‐looking statement contained herein to reflect any change in our expectations with regard hereto or
any change in events, conditions or circumstances on which any such statement is based.
This document has been prepared and provided on a confidential
basis and may not be reproduced in whole or in part, nor may its
contents be disclosed to any third party, without PT Summarecon
Agung Tbk’s prior written consent.
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Appendix :
Product Specifications
Alexandrite Residence
The Summit
Kew Residence
47
48
Marketing Brochure
49
Marketing Brochure
Land : 119m2
Building GFA : 100 – 125 m2
Price Range : Rp 1‐ Rp 1.2bn each
Land : 136m2
Building GFA : 140 – 160 m2
Price Range : Rp 1.3bn‐1.5bn each
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Marketing Brochure
52