Lippo Cikarang July 29, 2016 – For the first half 2016, PT Lippo Cikarang Tbk (“LPCK”) registered revenue of Rp 869 billion and net profit of Rp 354 billion.
For the 6-month period, the residential division’s revenue of Rp 381 billion contributed 44% of total revenue, which is marginally lower by 6% from the corresponding period. Revenue from industrial and commercial division were recorded at Rp 360 billion as compared to Rp 472 billion from the same period last year, comprising 41% of total revenue. On the other hand, LPCK’s recurring income of Rp 128 billion was 10% higher than the corresponding period, representing 15% of total revenue.
The Company’s EBITDA for the first half of 2016 was recorded at Rp 387 billion, 24% lower than last year’s EBITDA of Rp 512 billion.
LPCK’s total assets grew from Rp 5.47 trillion to Rp 5.58 trillion as at 31.12.2015 and 30.06.2016 respectively.
Toto Bartholomeus, President LPCK said: “While we face challenges due to the decline in Indonesia’s micro economic growth, which led to weaker customer buying power, coupled with increasing competition in the sector of high rise property market, we keep hard working in preparing our world class mixed use project of Orange County -the Globally Connected City as a center hub in the eastern corridor of Jakarta, which will be developed over 322 hectares. Orange County project is being prepared to serve as a sustainable project to support the Company’s future growth, to facilliate thousands of businesses that are scattered in the golden triangle industrial area at Cikarang.
Currently, LPCK has commenced the sales of Priority Pass for it’s latest tower, Newport Park, the 1st smart apartment developed with full Japanese collaboration.
LPCK’s achievements and reputation as a property developer has proved that LPCK is an independent developer of urban areas with various facilities befitting of an international standard city covering an area of approximately 3,000 hectares with an industrial area as its economic base. LPCK has successfully built more than 14,000 homes, with a population of 47,700 residents and 448,000 people who work here daily for the 920 manufacturing companies spread throughout 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 Indonesian 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 Indonesian Stock Exchange with a market capitalization of Rp 5.2 trillion or the equivalent of US $395million as at 1st July, 2016.
For More Information Please Contact:
Dea Thamrin
Corporate Secretary
PT Lippo Cikarang Tbk
021-8972484/021-8972488
Hong Kah Jin
Director
PT Lippo Cikarang Tbk
021-8972484/021-8972488
