Jakarta - PT Lippo Karawaci Tbk ("LPKR" or "Company"), Indonesia’s leading real estate company based on total assets and revenue, today announced its results for the first nine months of 2021. Reported revenues increased by 44% to Rp10.9 trillion, EBITDA increased by 84% to Rp2.9 trillion and the net loss was reduced to Rp573 billion. Adjusting these figures due to the impact from the consolidation of LMIRT in 1Q21, core revenues increased by 31% to Rp10.0 trillion and EBITDA increased by 67% to Rp2.65 trillion.

 

Despite Covid-19, real estate development revenue increased by 26% to Rp3.0 trillion from Rp2.4 trillion supported by handovers of legacy apartments and 2020 landed housing projects. In 9M21, Lippo Karawaci represented 56.8% of total property revenues, an increase from only 27.1% in 9M20. In addition, revenues were supported by Lippo Cikarang, which accounted for 39.5% of property revenues supported by the handover of Orange County apartments and landed residential at Waterfront Estates. Furthermore, the property business continues to show signs of resilience as marketing sales surpass corporate targets. In 3Q21 marketing sales reached Rp1.6 trillion and increased total 9M21 marketing sales to Rp3.9tr (+71% YoY) the equivalent of 93% of LPKR’s upwardly revised Rp4.2 trillion FY21 target.

 

 Siloam reports strong performance and margin expansion

Siloam Hospitals performance remained very strong, increasing EBITDA by 113.7% to a record high of Rp1.7 trillion from Rp797 billion YoY in 9M20. Siloam’s 9M21 revenue reached Rp5.9 trillion, up from Rp4.0 trillion in the prior year. This helped support Siloam’s Net Profit After Tax increase to Rp532 billion from a net loss of Rp49 billion in the year ago period.