Pt Lippo Kara Tbk Ord

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Recording in progress. Recording in progress.

Thank you, Pablo. Good morning, everyone. Thank you for joining our earnings call today. I'll be taking you through the financial results 2025 for LPKR. Let me just go straight jump into the business performance highlight for 2025. Our real estate revenue on our real estate Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord And this is slightly lower than obviously the top line growth because of the tracks from the some of the legacy products that we handed over this year's that I had a much lower margins compared to the others. Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord and this is mostly driven by our mall business which continue to see improvements in all our key operating methods with the footfalls for reached at about 11 million visitors per month much marking about 5% year on year whereas the occupancy also improved from about 81% in 2024 to 86.5% Lippo Kara Tbk Ord across the year from Q1, Q2, Q3, and Q4. The occupancy continues to strengthen and average hotel room rates are able to increase by about 2% year on year. Now in terms of revenue for 2025, overall on a solid basis, we've booked at about $9 trillion of revenue. Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord uh... so that's the reasons why it was 11.5 now if we were to assume that Shillong was to be deconsolidated in 2024 uh... it will reduce the revenue to 6.5 trillion so on a like to like basis Our top line is actually improved by about 38% year on year. This is driven by the real estate developments that I alluded earlier in the previous slides. On the EBITDA 2025 close at about 1.7 trillions. I'm lower back to last year's and these again because of the solo I'm still being consolidated if we were to do a performer on the deconsolidated loans our revenue is actually increased on every day actually increased by about 4% on a like-for-like basis now moving on to the PNL not already touched on the revenue and the debt Our underlying ad cap is about $630 billion for the full year 2025. Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord with BTN Loans which basically improve our cost of funding by about 70 basis point. So now we are paying about BI 7 day rate plus 1.4 which is pretty strong for a real estate play like Lippo Kara Tbk. Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Our historical net debt has been very low compared to the previous years at about $4 trillion. With that maturity profile, it's pretty lenient. And this is on the back of the refinancing that we had last year. Moving on just to real estate overview. You know, in 2025, it's pretty busy year where we've launches close to about 12 launches in 2025. With Lippo Karwansi, we had about six launches throughout the years. Lippo Cekarang, three launches and Tanjung Bunga, three launches. We sold about 98 projects of landed residentials. and about 6 mid-low to high-rise projects and 21 shophouses projects so it's pretty a busier last year and we continue to see that this year will remain busy and our focus will still going to be continue to diversify our portfolio not only in our existing market but also expanding to new markets with a focus on affordable housings for young families with extensions to premium residents for mass affluent segments. Now, this is the average of marketing sales. If we compare the 2029 with almost triples of our marketing sales with the latest 2025 at about 5.3, and we continue to have a pretty ample land bank that we can leverage which roughly has an estimated of gross development value of about 155 trillions and this is comprises of about 1300 hectares of land banks that we have marketing sales in Lippo Karawaci continue to be dominated by landed housing at 79% followed by shop houses in Lippo Chikara similarly landed housings of 57% of the total marketing sales in 2025 followed by commercial landed and also land plots comprises about 33% to the marketing sales On the payment method, mortgage still dominating at about 64%, followed by installment at 21% and cash at 15%. And this basically indicates that the majority of buyers of our properties are all mostly end users. with the ticket size still dominated by affordable homes at about two-thirds of our marketing sales below 1 billion ticket size and followed by between 1 and 2 billions 24% so the majority is actually below 2 billions and as we continue to focus on the more affordable products This is just a highlight of the handovers in 2025 across all our developments. In Lippo and in Paxifons, three clusters that we introduced in Phase 1, Citizen, Park East, Park North and Park West, mostly completed handover by about 97% to 98%. In Lippo Village also the same between 88-95% fully handed over to our customers. It's slightly newer product that we've recently launched in Chikarang XYZ Living Phase 1 and the Hive Neo Patio. We started to do a handover, completed 25% for XYZ Living and 3% for the Hive Neo Patio. Just to give you a sense on the product innovations and this is something that I'm personally very proud of the team. We've continued to be on the front here on product innovations. We've introduced these three stories landed housings last year, which attracted a lot of interest from our customers, the gold tops and the three tops. price ranges between 650 to 900 million rupiah which is still below 1 billion and also continue to evolve our two stories landed housings ranging from the urban to gold series with starting price of about 300 million rupiah per units So now moving on to lifestyle. Lippo Mall, just to recap, Lippo Mall Indonesia is the largest mall developer and operator with 59 malls managed nationwide in over 39 cities across Indonesia with less leasable area of about 2.5 million square meters. We have a very well-diversified dynamics across supermarket, department store, F&B, leases, fashions, Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Our most continue to improve with more visitors improved by about 5% to 11 million per month. And occupancy rates improved from 81% to 86.5% in 2025. This is just some of the activities that our most conducted in 2025, in the fourth quarter of 2025. Particular in Sanplaza, Medan, the Baby Shark Camp was hosted, getting a lot of attractions from the families in Medan. The Palembang Square, we've also launched a new affluence which strengthen our offerings for our customers in Palembang. And also Senayan Park also introduced this. Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Now, in terms of market last year, as I mentioned earlier, it was not an easy year for hospitality business last year, even the government budget cost spending that was introduced in the first quarter of 2025. Our revenue declined by about 5% in 2025, registered at about $474 billion Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord So that's all from me and I'll give it back to Pak Agus for the Q&A sessions.

Thank you, Pak Fendi, for the presentations. We will now start the Q&A sessions based on the questions that we received. However, I don't see any questions yet in the chat box, in my chat box at least. Pak Fendi, do you see any questions in your chat box?

Yeah, I haven't seen any Lippo Kara Tbk Ord Lippo Kara Tbk Ord

How much is the Parsepong project has been launched and how many hectares are left?

uh coffee would you like to take these questions sure um I think uh so far it's it's probably about 20 30 of the area that uh we've remarked for uh the real estate development impossible has been launched so we still have about I still have a ample um land bands that we could uh develop in in toxic bones I don't remember the exact numbers, but I'll get back to you on that.

Yeah. So if you remember the seven wonders projects, that's the seventh phase of the possible projects. So we have completed six and right now we are on phase seven. Thank you for the question. And then the next one. What is the government's budget for hotels in 2026? And how does the company view the hotel sector in 2026? Will that improve back to the 2024 level? Do you have any visibility for the government's budget?

You know, I don't have the exact government budgets for for travels and events and whatnot. But you know, as we are seeing improvements in border on border on government spending in events and hotels, I think we should, if the trend continues, we should be seeing 2026 continue to improve. And from what we see that we are hopeful that Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord Lippo Kara Tbk Ord We are going to introduce a more premium products impossible. So that will will improve the the the pricings for the secondary home as well as for the new launches. So yes, the short answer is yes, we continue to see we have a few to push for an increase in price point impossible. Is there any pre sales guidance in 2026? Yes. So our guidance for 2026 is six trillions of marketing sales. Now this is on the back of we think that 2026 continue to be slightly more subdued given what's happening geopolitically across the globe as well as While we are seeing things are improving in terms of buying power remain cautiously optimistic of the situations in Indonesia for 2026. Lippo Kara Tbk Ord Lippo Kara Tbk Ord

I think we covered all the questions Bagus yeah okay thank you because we don't have any more questions with that I think we have reached the end of today's earnings call the presentation material will be sent to you shortly after this and we'd love to thank you everyone again for attending Lippo Kara Wachi's full year 2025 earnings call today and we wish you all a very good day ahead thank you again

Thank you everyone. Have a good day.