Jakarta, 11 May 2021 - In 2020, PT Lippo Karawaci Tbk. ("LPKR") successfully cultivated a pre-sales performance of 45% year on year (YoY) to Rp2.67 trillion, up 7% above target company Target. This pre-sale growth was primarily driven by the strengthening of real estate business making our revenue increased by 9.4% to Rp3.25 trillion previously from trillion Rp2.98 trillion.
In 2021, LPKR targeting its pre-sales of Rp3.5 trillion which is expected to be achieved with several launches of new landed house.
Meanwhile, Real Estate Management & Services revenue in 2020 decreased by 6.4% to Rp8.63 trillion from Rp9.22 trillion previously. This happens within our mall and hotel business lines where we see continued adversely impact of the Covid-19 pandemic, despite the bounce back from our hospital's business.
Overall, LPKR's revenue decreased 3% yoy to Rp11.97 trillion from Rp12.32 trillion in 2019, with a gross profit in 2020 amounting to Rp4.29 trillion compared to Rp4.60 trillion in the previous year.
LPKR EBITDA in 2020 increased by 47% yoy to Rp1.90 trillion from Rp1.30 trillion in 2019. Real Estate Development contributed the most to EBITDA improvement of Rp4 billion in 2020 compared to a loss of Rp457 billion in 2019.
LPKR CEO John Riady said, " Despite the pandemic situation, 2020 was a thriving year for our property business with over Rp2.67 trillion in marketing sales, up 45% year on year. In the future, as we reflect on 2020 results and the changes at Lippo Karawaci we will point to this year as the turning point where our property business model was validated by selling out all of our launches in Lippo Village in a matter of hours from launch. On the recurring income side, Siloam Hospitals reported strong EBITDA growth and improving margins, as their doctors and nurses were at the forefront of fighting the pandemic. Although our other recurring income streams remain under pressure due to the Covid-19 pandemic, we have seen business slowly rebounding and life returning closer to normal."
About Lippo Karawaci (“LPKR”) (www.lippokarawaci.co.id)
Listed on indonesia stock exchange, Lippo Karawaci ("LPKR") is a leading integrated real estate company in Indonesia with total assets of USD 3.7 billion as of December 31, 2020. The company's core business consists of residential development in urban areas, lifestyle malls and health services. The Company is also actively engaged in integrated development, hospitality, urban development and management, as well as asset management services.
Present in 40 cities, the company is a leading property developer in Indonesia with 1,362 ha of landbank ready for development. Through two publicly listed subsidiaries, PT Lippo Cikarang Tbk, and PT Gowa Makassar Tourism Development Tbk, where LPKR currently owns 84.0% and 62.7% shares, LPKR develops and operates city developments in Lippo Cikarang in Bekasi and in Tanjung Bunga in Makassar, respectively. In addition, LPKR also owns a 55.4% stake in PT Siloam International Hospitals Tbk, Indonesia's leading private hospital network, with 39 hospitals in 25 cities throughout Indonesia.
LPKR has a Unit in REIT listed on the Singapore stock exchange, Lippo Malls Indonesia Retail Trust with assets managed by USD 1.8 billion as of December 31, 2020.