LPKR Records Rp169 Billion in Net Profit in the First Quarter of This Year

Jakarta, 5 May 2025 – PT Lippo Karawaci Tbk (LPKR), Indonesia’s leading integrated real estate and healthcare platform, recorded a net profit of Rp169 billion in Q1 2025, a significant turnaround from a net loss of Rp179 billion in the same period last year. EBITDA for the quarter reached Rp375 billion.

LPKR maintained a healthy liquidity position, with cash increasing to Rp2.77 trillion at the end of the period, up from Rp2.62 trillion a year earlier—reflecting effective cash management.

In Q1 2025, net interest expenses declined 71% year-on-year (YoY) to Rp93 billion, driven by the successful repayment of Rp1.04 trillion in bonds and Rp740 billion in bank loans. These efforts highlight the Company’s commitment to deleveraging and optimizing its capital structure, resulting in a stronger balance sheet and lower financing costs moving forward.

Overall, these results reflect LPKR’s continued focus on executing its core business strategy, delivering solid operational performance, maintaining cost discipline, and actively reducing debt.

The property segment reported pre-sales of Rp1.26 trillion in Q1 2025, reaching 20% of the full-year target. This was driven by ongoing demand for affordable landed homes in various locations, with 80% of total pre-sales coming from first-time buyers and end-users.

Flagship projects such as Cendana Homes, XYZ Livin, and Waterfront Uptown continued to gain strong traction, supported by the launch of Park Serpong Phase 4 and the Blackslate Series in Tanjung Bunga, Makassar, with respective absorption rates of 96% and 88%.

In Lippo Karawaci (HoldCo), residential sales contributed Rp792 billion, with additional contributions from commercial units (Rp71 billion), high-rise residential inventory (Rp28 billion), land plots (Rp18 billion), and burial plots at San Diego Hills (Rp31 billion).

Subsidiary PT Lippo Cikarang Tbk. (LPCK) reported Rp323 billion in pre-sales, with landed houses and shop houses accounting for more than 96% of total sales. Projects such as XYZ Livin and Cendana Spark North continue to attract strong buyer interest.

LPKR’s lifestyle segment (malls and hotels) also delivered a strong performance this quarter, with revenue growing 13% YoY to Rp322 billion. Gross profit increased 34% to Rp239 billion, while EBITDA surged 59% YoY to Rp106 billion.

John Riady, Group CEO of Lippo Indonesia, stated "We began 2025 on a strong note, driven by focused execution, operational resilience, and financial discipline. Our strategy of offering affordable housing continues to resonate with end consumers, while our deleveraging efforts are now yielding tangible results in the form of reduced interest expenses. We remain committed to expanding access to quality housing for more Indonesians, while driving sustainable growth for all our stakeholders."

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About PT Lippo Karawaci Tbk

Listed on the Indonesia Stock Exchange, PT Lippo Karawaci Tbk (“LPKR”) is Indonesia’s leading integrated real estate and healthcare platform, with a presence in 26 provinces and 56 cities across the country and total assets of Rp53.7 trillion as of December 31, 2024. The Company’s core businesses include real estate development, township management, healthcare services, lifestyle malls, and hospitality.

As a leading real estate developer and township operator with 1,380 hectares of developable land, LPKR develops and manages urban developments primarily across Java and Sulawesi, including the flagship Lippo Village in Tangerang. Through its two publicly listed subsidiaries—PT Lippo Cikarang Tbk and PT Gowa Makassar Tourism Development Tbk, in which it holds 83.99% and 62.69% ownership respectively—the Company also develops and manages Lippo Cikarang in Bekasi and Tanjung Bunga in Makassar.

In addition, LPKR holds a 29.09% stake in PT Siloam International Hospitals Tbk, Indonesia’s leading private hospital network, operating 41 hospitals and 73 clinics across 23 provinces nationwide. Beyond healthcare, the Company manages 59 malls across Indonesia and holds a 47.29% stake in Lippo Malls Indonesia Retail Trust (LMIRT), a Singapore-listed REIT with SGD 1.6 billion in assets under management as of December 31, 2024. LPKR also operates 10 hotels under the Aryaduta brand, as well as a country club and golf course.