Press Release
LPKR Achieves Net Profit of IDR 1.1 TN
31 July 2023

Jakarta, 31 July 2023 – PT Lippo Karawaci Tbk. (LPKR), Indonesia’s leading real estate and healthcare platform, has achieved a 19% YoY revenue growth to IDR 8.1tn in Semester I/2023. Gross profit also increased by 21% YoY to IDR 3.5tn, and EBITDA grew by 39% YoY to IDR 2tn. LPKR also successfully recorded a net profit of IDR 1.1tn in Semester I/2023, which reflected a significant turnaround from net loss position of -IDR 1.2tn in Semester I/2022. 

Moreover, in Q2/2023 LPKR successfully achieved a net profit of IDR 12bn without any extraordinary events affecting its results. This achievement marks the first positive net profit since Q1/2019 that was solely driven by the improved fundamental performance of the business. Management believes this trend is likely to sustain, driven by improved performance across all business segments.

In the real estate segment, LPKR achieved a successful marketing sale of IDR 2.48tn, supported by a diverse product offering and consistent product launches. This accomplishment fulfills 50.6% of the marketing sales target of IDR 4.9tn for the year 2023.

LPKR’s healthcare segment, operated by its subsidiary PT Siloam International Hospitals Tbk (“Siloam”), maintained strong financial growth momentum during Semester I/2023. In this period, the revenue from the healthcare segment grew by 20% YoY, and EBITDA increased by 48% YoY. This achievement was driven by a robust recovery in non-Covid-19 related revenue, increased patient volumes, and the improved adoption of Siloam’s digital channels, which provide easier access for patients.

Meanwhile, the lifestyle segment continued to benefit from post-Covid recovery, with revenue and EBITDA increasing by 14% and 20% YoY, respectively, in Semester I/2023.

Group CEO LPKR, John Riady, stated, "We proudly present our performance during Semester I/2023, reflecting the success of our turnaround efforts. Particularly in Q2/2023, we achieved net profit without any extraordinary events affecting the results. This accomplishment demonstrates the improved fundamental performance of all our business units. We expect this positive trend to continue going forward. As we enter Q3/2023, we remain committed to offering new and diverse products to meet various pockets of demands while maintaining timely product deliveries and sustaining the strong growth in our healthcare and lifestyle businesses."