Lippo Cikarang, Bekasi, Indonesia
Friday, 29 April 2016

PT Lippo Cikarang Tbk (“LPCK”) today announced financial results for the quarter ended March 31, 2016.

Inspite moves by Indonesia’s central bank to reduce interest rates for the third consecutive month amidst the strengthening Rupiah, the consumers are holding back their property’s purchases.

This is reflected in the LPCK’s results for the first quarter 2016 wherein the revenue for the first quarter 2016 was reported at Rp546 billion as compared to Rp554 billion  in the preceeding quarter.

For the first quarter 2016, LPCK recorded a lower net profit of Rp223 billion as compared to Rp275 billion in the preceeding quarter. There is marginal increase in the total assets from Rp5.47 Trillion to Rp5.54 Trillion as at 31.03.2016 and 31.12.2015 respectively.

LPCK’s Gross Profit for the first quarter 2016 was declined by 16% yoy from Rp333 billion to  Rp280 billion in the preceeding quarter mainly due to lower gross profit from Delta Silicon 8 sales. The EBITDA of the Company was recorded at Rp242 billion, decreased by 20% from preceeding quarter.

The revenue of the Company for the first quarter 2016 was mainly derived from its residential houses and apartment and industrial division. The residential houses and apartment  division’s revenues were increased by 7% from Rp181 billion to Rp193 billion, representing 35% from total revenue.

Industrial Division contributed revenue of Rp176 billion, comprising 32% from total revenue. Revenue from Town Management Division’s, which provides Estate Management services, has increased by 12% from Rp45 billion to Rp50 billion, contributing 9% to LPCK’s total Revenue.

President Director PT Lippo Cikarang Tbk Toto Bartolomeus said: “ We are not spared from the weakness of the property market as can be seen  in our first quarter results for property development”.

Our strategy in 2016 includes landed house product for middle and upper segment which will be unveiled in 2H 2016. We will continue to focus on managing world class mixed use – the Globally Connected City Orange County, which set to be developed over 322 hectares and investment of Rp250 trillion. Meanwhile, the government is gradually revealing details on foreign individuals ownership of Indonesian property as evidenced by Ministerial Decree no. 13/2016 which should provide greater clarity and boost property demand.

Orange County is well supported with public facilities such as Hikari Japanese School, Cinemaxx, retail center with tenants like Hypermart and Maxx Coffee, to accomodate the people’s needs in the golden triangle area of Cikarang industrial estate. To date, the Company successfully launched five apartments in Orange County, namely Irvine Suites, Westwood Suites, Pasadena Suites, Burbank Suites and Glendale Park, which were sold out after launching.

LPCK is an urban developement with a total  area of more than  3.000 hectares where industry forms its base economy.  LPCK has succeeded in building more than 14.000 residences, with a population of 47.700 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”), Indonesia’s leading and largest listed property company by total assets and revenues, anchored by a large landbank 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 5.22 trillion or US$ 412 million as of April 22, 2016

For more information please contact:
Investor Relations :
Hong Kah Jin Director :
Telp: 021 897-2484/2488

Public Relations;
Ria Sormin
Public Relations
Mobile:+6281584098087
Visit our website @ www.lippo-cikarang.com