Lippo Cikarang 31st October, 2016 – PT Lippo Cikarang Tbk (“LPCK”) today announced its financial results for the quarter ended 30 September 2016. The Company reported third quarter revenue of Rp1.2 trillion and comprehensive net profit of Rp525 billion. The Company’s EBITDA for third quarter 2016 was recorded at Rp531 billion.
For the 9-month period, the residential house and apartment division’s revenue contributed Rp608 billion or 51% of total revenue of which is marginally lower by 9% from the corresponding period last year of Rp670 million.
Revenue from industrial and commercial division were recorded at Rp 399 billion, comprising 33% of total revenue.
On the other hand, LPCK’s recurring income was 12% higher than the corresponding period, growing from Rp174 million to Rp195 million, representing 16% of total revenue.
LPCK’s total asset grew 3% from Rp5.47 trillion as at 31.12.2015 to Rp5.63 trillion.
“Total marketing sales YTD Q3 2016 was Rp425 million, lower than the same period in 2015. The third quarter’s results were not inline with our expectations due to weakening domestic buying power. Overall business activities and business profitability remained relatively sound during 2016. With projects such as Orange County world class mixed use project of Orange Country – the Globally Connected City as the East Jakarta corridor hub, we believe that we have sustanaible projects for our growth in the future”, said Toto Bartholomeus, LPCK President Director.
In the end of November 2016, Lippo Cikarang will launch Newport Park, the 6th apartment tower at Orange County in cooperation with Mitsubishi Corporation, of approximately 500 units.
LPCK is an urban developement with a total area of more than 3.000 hectares (Ha) where industry forms its base economy. LPCK has succeeded in building more than 14,000 residences, with a population of 47,700 residents and 448,000 people working daily in 920 manufacturing companies spread out in the Lippo Cikarang industrial area.
LPCK is a subsidiary of PT Lippo Karawaci Tbk (“LPKR”). LPKR is the largest property company in Indonesia interms of total assets and revenue and is listed on the Indonesia Stock Exchange, and is supported by a strong land bank and solid recurring income. LPKR’s business comprises Residential / Township, Retail Malls, Hospitals, Hotels and Asset Management.
LPCK is listed on the Indonesia Stock Exchange with a market capitalization of Rupiah 4,1 trillion or the equivalent of US $314,6million, as of 30 September 2016.
For More Information Please Contact:
Dea Thamrin
Corporate Secretary
PT Lippo Cikarang Tbk
021-8972484/021-8972488
Hong Kah Jin
Investor Relations Director
PT Lippo Cikarang Tbk
021-8972484/021-8972488
Disclaimer:
This press release has been prepared by PT Lippo Cikarang,Tbk (“LPCK”) and is circulated for the purpose of general information only. It is not intended for any specific person or purpose and does not constitute a recommendation regarding the securities of LPCK. No warranty (expressed or implied) is made to the accuracy or completeness of the information. All opinions and estimations included in this release constitute our judgment as of this date and are subject to change without prior notice. LPCK disclaims any responsibility or liability whatsoever arising which may be brought against or suffered by any person as a result of reliance upon the whole or any part of the contents of this press release and neither LPCK nor any of its affiliated companies and their respective employees and agents accepts liability for any errors, omissions, negligent or 3 otherwise, in this press release and any inaccuracy herein or omission here from which might otherwise arise.
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. Factors that could cause actual results to differ include, but are not limited to, economic, social and political conditions in Indonesia; the state of the property industry in Indonesia; prevailing market conditions; increases in regulatory burdens in Indonesia, including environmental regulations and compliance costs; fluctuations in foreign currency exchange rates; interest rate trends, cost of capital and capital availability; the anticipated demand and selling prices for our property products and related capital expenditures and investments; the cost of construction; availability of property products; competition from other companies and venues; shifts in customer demands; changes in operation expenses, including employee wages, benefits and training, governmental and public policy changes; our ability to be and remain competitive; our financial condition, business strategy as well as the plans and objectives of our management for future operations; generation of future receivables; and environmental compliance and remediation. Should one or more of these uncertainties or risks, among others, materialize, actual results may vary materially from those estimated, anticipated or projected. Specifically, but without limitation, capital costs could increase, projects could be delayed and anticipated improvements in production, capacity or performance might not be fully realized. Although we believe that the expectations of our management as reflected by such forward-looking statements are reasonable based on information currently available to us, no assurances can be given that such expectations will prove to have been correct. You should not unduly rely on such statements. In any event, these statements speak only as of the date hereof, and we undertake no obligation to update or revise any of them, whether as a result of new information, future events or otherwise.
