BusinessInspiration (11/5)—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 revenue increased by 9.4% to Rp3.25 trillion previously from trillion Rp2.98 trillion.
Press release today told: 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 and Services revenue in 2020 decreased by 6.4% to Rp8.63 trillion from Rp9.22 trillion previously. This happens within 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.
LPKR EBITDA in 2020 increased by 47% yoy to Rp 11,97 trilion. Real estate development was main contributed.
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.”
He added, “In 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.”
Riady said, “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.”