170609-1Q09
www.bakrieland.com
DAFTAR ISI Profil Bakrieland ………………………………………….
3
Proyek City Property …………………..……….…………….. 8 Proyek Landed Residential …………………...….…………….. 13 Proyek Hotel & Resort …………………………..…………16 Proyek Infrastruktur …………………………………………. 19 Kinerja Keuangan …………………..……….………...…….. 21
The Developer of the Year
The Best Listed Company In Property & Real Estate
At 2010 Indonesia Property & Bank Award
At 2008 Bisnis Indonesia Award
The Winner in 2008 Annual Report Award for Listed Private Non-Finance Company Category
Best GCG most improved category
At 2008 ARA by Bapepam-LK and IDX
At 2009 GCG Award by IICD & CIPE
2
PROFIL BAKRIELAND
3
CORPORATE STRUCTURE BAKRIELAND INTEGRATED PROPERTY COMPANY
P R O P E R T Y
CITY PROPERTY Revenue : IDR 272 bn (51%) EBITDA : IDR 44 bn (38%)
LANDED RESIDENTIAL Revenue : IDR 111 bn (21%) EBITDA : IDR 35 bn (30%)
PROPERTY RELATED INFRASTRUCTURE
HOTEL & RESORT Revenue : IDR 126 bn (23%) EBITDA : IDR 26 bn (22%)
TOLL ROAD
WATER TREATMENT & DIST.
Revenue : IDR 29 bn (5%) EBITDA : IDR 11 bn (10%)
PT. Bakrie Swasakti Utama 69.62%
PT. Graha Andrasentra P. 99.78%
PT. Samudra Asia Nasional 99.78%
INVESTMENT
INVESTMENT
PROJECT
Wisma Bakrie 1
The Jungle Water Park
Pullman Bali Legian Nirwana
Wisma Bakrie 2
Orchard Walk
PT. Bakrie Toll Road 99.99%
PT. Bali Nirwana Resort 52.55%
PT. Semesta Marga Raya 100%
Revenue : NA EBITDA : NA
PT. Bakrie Infrastructure 99.99%
PT. Aetra Air Jakarta 5%
Bakrie Tower * Lifestyle Center * Aston Rasuna Hotel * Pasar Festival
PROJECT
Gold Gym Elite Rasuna
Bogor Nirwana Residence
INVESTMENT
INVESTMENT
GMSB
Aston Bogor Hotel & Resort
Nirwana Bali Resort
Kanci-Pejagan Toll Road
PT. Dutaperkasa U. 64.86%
PT. Krakatau Lampung T. D. 90%
Wave Condominum
PROJECT
PROJECT
Convergence Indonesia
Ijen Nirwana Residence
Krakatoa Nirwana Resort
PT. Bakrie Pangripta Loka 99.99%
PT. Mutiara Permata Biru 98.78%
PT. Libratindo Gemilang 99.99%
PROJECT
PROJECT
PROJECT
Sentra Timur Residence
Batam Nirwana Residence
Balikpapan Nirwana Residence
PROJECT Rasuna Epicentrum:
INVESTMENT WT&D for East side of Jakarta
Grove Condominium
* Partly retained Revenue & EBITDA are based on 1H10 results
PT. Berkah Puhu Lestari 99.99%
PROJECT Ubud Nirwana Villas
4
BUSINESS MODEL & STRATEGI BAKRIELAND INTEGRATED PROPERTY COMPANY
P R O P E R T Y
SYNERGY
PROPERTY RELATED INFRASTRUCTURE
New regional development
Better margin and growth
Land acquisition expert
Land acquisition acceleration
Integrated property expansion Traffic enhancement Integrated water solution
A green operation
OPTIMAL ECONOMIES OF SCALE
VALUE CREATION TO STAKEHOLDERS
FOKUS PENGEMBANGAN
• Fokus pengembangan: tempat hunian segmen menengah dan menengah atas yang memiliki lokasi strategis • Memperkuat posisi proyek baru dengan menggunakan branding yang sudah ada serta keunggulan kompetitif BLD
PERCEPATAN PENGEMBANGAN
• Mempercepat proses pembangunan dengan melakukan aliansi strategis (Joint Operation dan Joint Venture) • Meningkatkan penjualan dengan konsep Strata
EXCELLENT PENGEMBANGAN
• Menawarkan produk dan layanan yang berkualitas tinggi • On time delivery sesuai yang direncanakan • Investasi properti dengan yield yang tinggi 5 5
BAKRIELAND’S STRENGTHS MAR K E T
LE AD ER
LARGEST Jakarta CBD Developer (1)
LARGEST Development Area in Jakarta CBD (2)
LARGEST Land Bank in Jakarta CBD (3)
One of LARGEST Market Cap. of Property Stocks on IDX (4)
LARGEST Trading Value of All Property Stocks on IDX (5)
STRONG Revenue growth (6)
SOLID Balance sheet (7)
DIVERSIFIED Portfolio (8)
DIVERSIFIED Locations (9)
QUALITY Products (10)
GOOD Track Record (11)
FOCUSED Segment (12)
COMPLETE Amenities (13)
STRONG Partner (14)
1.
Menguasai hampir 1/3 pasar apartemen di CBD Jakarta
2.
Luas pengembangan 53.5 Ha di CBD utama Jakarta
3.
16.3 Ha land bank di CBD utama Jakarta
4.
Kapitalisasi saham per 15 Oktober 2010 Rp 9.4 triliun
5.
Saham properti paling likuid di Bursa Efek Indonesia. Rata-rata nilai perdagangan harian selama 2009 Rp 66 miliar
6.
CAGR penjualan dalam 5 tahun terakhir sebesar 43.5% dan akan terus berkembang
7.
Net gearing (tidak termasuk ELB) yang rendah 54.7% dan DER 67.4% (30 Juni 2010)
8.
Rumah, apartemen, kantor, hotel, ritel dan infrastruktur.
9.
Jakarta, Bogor, Bali, Malang dan Lampung
10.
Apartemen terbaik II di Jakarta, PSIP, 2007
11.
Pengalaman > 20 tahun
12.
Segmen menengah dan menengah ke atas
13.
Superblock terlengkap di Jakarta, Indonesia Property & Bank Award, 2008
14.
Limitless, anak perusahaan Dubai World dan Perumnas
15.
Bakrie Group dan Avenue Capital Group
STRONG Shareholders
(15)
6
PEMEGANG SAHAM (>5%)
ALS 12.16% BCI 16.25%
PUBLIC 62.57%
ALS Danatama BCI PUBLIC
Danatama 9.02%
: Avenue Luxembourg SARL (Avenue Capital) : Reksadana Danamas : PT Bakrie Capital Indonesia : Kepemilikan masing-masing < 5%
Sumber : BAE, 31 Agustus 2010 7
PROYEK CITY PROPERTY
THE LIFESTYLE CAPITAL OF JAKARTA
8
Project
Jointly developed with Limitless,
RASUNA EPICENTRUM
a Dubai World Subsidiary
CITY PROPERTY DEVELOPMENT 17 thirty-storey condominium towers (4,294 units), fully developed, 100% sold out
K N
O F I
G E D
B C
A M H
J
L
A.
BAKRIE TOWER
B.
LIFESTYLE CENTER
C.
MEDIA WALK
D.
THE GROVE C.
E.
GROVE SUITES
F.
THE CONVERGENCE I.
G.
OFFICE TOWER
H.
CONCERT HALL
I.
CONDOMINIUM
J.
CONDOMINIUM
K.
THE WAVE
L.
PASAR FESTIVAL
M.
GOLD GYM ELITE R.
N.
TAMAN RASUNA APARTMENT
O.
CONDOTEL
HR Rasuna Said
Sport complex and retail area, fully developed and retained as recurring-income asset
The first and the largest superblock
Development area 53.5 Ha
At 2010 Indonesia Property & Bank Award
9
Project
RASUNA EPICENTRUM – LAND STATUS CITY PROPERTY DEVELOPMENT
0.5
3.3
3.5 8.0
0.6 2.5
0.9
0.5
1.2
1.0
1.5
2.5
12.5
4.7
1.6
(Ha) Infrastructure Public & social facilities Already developed Being developed Estimated land bank Total area
8.7 3.5 8.0 1.5 1.6
+ + +
12.5 0.6 0.5
+ + +
1.0 0.5 1.2
+
0.9
+
4.7
+
2.5
+
2.5
+
3.3
= = = = =
8.7 3.5 22.4 2.6 16.3 53.5
10
THE GROVE CONDOMINIUM Project
• 2 menara apartment untuk segmen menengah keatas sejumlah 438 unit • Rata-rata ukuran luas per unit 2 kamar tidur 85 sqm • Perkiraan penyelesaian di 4Q11 • 50% pre sold • Kemajuan konstruksi 51%
THE GROVE SUITES
THE WAVE CONDOMINIUM
CITY PROPERTY DEVELOPMENT
• Hotel berbintang 5 dengan memiliki 151 unit • Rata-rata ukuran luas per unit 1 kamar tidur 63 sqm • Perkiraan penyelesaian di 2Q11 • 37% pre sold • Kemajuan konstruksi 54%
• 10 menara kondominium untuk segmen menengah sejumlah 2,797 unit • Rata-rata ukuran luas per unit 1 kamar tidur 40 sqm 2 kamar tidur 60 sqm • Perkiraan penyelesaian di 1Q12 (Tahap 1A, 3 menara) • 36% pre sold (3 menara, 861 unit)
11
BAKRIE TOWER Investment
• Gedung perkantoran tertinggi di Jakarta • Gedung kantor grade A dengan luas useable area 65,552 sqm • Mulai beroperasi di bulan Mei 2010 • 92% take up rate (54% terjual dan 38% untuk disewakan)
LIFESTYLE CENTER
EPICENTRUM XXI
CITY PROPERTY DEVELOPMENT
• Sinema dengan konsep unik red carpet dan terletak di gedung tersendiri • Kapasitas 300 kursi and 500 kursi (sinema terbesar dalam kapasitas kursi di Jakarta) • Dilengkapi dengan area lounge
• • • •
Pusat hiburan dan menara kantor 28,123 sqm useable area Soft opening di bulan Maret 2010. Penyewa Farmers market, Starbucks, Flagship Store, Kafe & Restoran, Bank (BNI, BCA) dsb
12
PROYEK LANDED RESIDENTIAL
SIMPLY PARADISE INSPIRED BY NATURE
13
Project
BOGOR NIRWANA RESIDENCE RESIDENTIAL DEVELOPMENT
•
Proyek perumahan yang akan mengembangkan lahan lebih dari 1,000 Ha di Kota Bogor dalam berbagai tipe rumah
•
Fasilitas pendukung yang telah tersedia: taman air dan kawasan ritel
•
Fasilitas pendukung yang akan dikembangkan: lapangan golf
•
Lebih dari 2,300 unit telah terjual
Jabotabek market share in 2009 Volume penjualan rumah baru Jakarta 12.7% Bogor 31.1% Bekasi 24.7%
Tangerang 31.5% Source: PT Procon Indonesia, April 2010
14
Asset & Project
BOGOR NIRWANA RESIDENCE RESIDENTIAL DEVELOPMENT
The Jungle Mall
Orchard Walk
RETAIL SPACE 10,591 sqm leasable area
STRATA RETAIL SPACE
Nirwana Epicentrum
Aston Hotel Bogor
15,371 sqm saleable area
The Jungle
Artist impression
4-STAR STRATA HOTEL 124 units (84 units for sale + 40 units will be retained)
EDUTAINMENT WATER PARK 2.3 Ha, 4D cinema, giant aquarium, bird park, dry park & etc
15
PROYEK HOTEL & RESORT
RESORT LIVING STYLE
16
HOTEL
LIFETIME INVESTMENT
Project
PULLMAN BALI LEGIAN NIRWANA HOTEL & RESORT DEVELOPMENT
•
Strata hotel pertama di Kuta-Bali
•
Dikelola oleh Accor International
•
Hotel berbintang lima dengan 360 unit yang dibangun di atas lahan 2,4 ha. (280 unit untuk dijual dan 80 unit akan dijadikan recurring income asset)
Seminyak
•
Mulai beroperasi 4Q10
•
78% dari 280 unit telah terjual
PULLMAN BALI LEGIAN NIRWANA
KUTA BEACH
Jimbaran Bali island
HARD ROCK HOTEL - BALI Kemajuan konstruksi 95%
17
RESORT Asset
NIRWANA BALI RESORT HOTEL & RESORT DEVELOPMENT
•
Resort terintegrasi pertama di Bali seluas 103 Ha yang berlokasi di Tanah Lot, Tabanan
•
Mulai beroperasi di tahun 1997
•
Resort berbintang 5 yang dikelola oleh Pan Pacific yang terdiri atas 278 kamar hotel, Golf course 18-hole yang didesain oleh Greg Norman, dan komplek hunian yang ekslusif
•
Indonesia’s Leading Golf Resort dari World Travel Awards 2009 dan Asia’s Best Golf Resort dari Asian Golf Monthly Awards
TANAH
`
NIRWANA BALI RESORT
LOT TEMPLE
Bali island
18
PROYEK INFRASTRUKTUR
19
TOLL ROAD PROJECTS Trans-Asia Highway network links 32 countries by road along 141,000km
Merak
INFRASTRUCTURE
Jakarta Cikampek
PROJECT
Land area 225 Ha
Palimanan Tangerang Ciawi
Trans Java toll road network
Cirebon
Kanci Sukabumi Pemalang Ciranjang Bandung Pejagan Batang
Semarang Surabaya Solo
Sections Length (km) Daily traffic Merak-Tangerang 73 Tangerang-Jakarta 28 317,443 Jakarta-Cikampek 72 337,671 Jakarta-Ciawi 46 316,410 Ciawi-Sukabumi 54 Cikampek-Palimanan 116 Palimanan-Kanci 29 40,106 Kanci-Pejagan 35 Pejagan-Pemalang 58 Pemalang-Batang 35 Batang-Semarang 75 Semarang-Solo 76 Solo-Kertosono 177 Kertosono-Mojokerto 41 Mojokerto-Surabaya 37 Surabaya-Gempol 40 155,583 Gempol-Pasuruan 32 Pasuruan-Probolinggo 45 Probolinggo-Banyuwangi 170
Kertosono Mojokerto Gempol Pasuruan Probolinggo
Banyuwangi
Progres akuisisi tanah + 84%
Completed (by other companies) Completed (by Bakrieland) Under Bakrieland assessment Under tender process or owned by others
Source: http://www.bpjt.net – http://www.jasamarga.com
Java Indonesia Ratio
Land area Population (sq. km.) (mn) 132,186 128 1,890,000 228 7% 56%
20
KINERJA KEUANGAN
21
KINERJA KEUANGAN Revenues (Rp miliar)
5-year CAGR : 43.5% 1,200
2010 target 1,310
1,000
1,054
1,059
2008
2009
782
800 600 400 200
320
393
174
0 2004
2005
Revenues Gross profit Operating profit EBITDA Net profit
2006
1H10 537.5 245.6 81.3 116.1 63.0
2007
1H09 368.8 180.1 64.0 82.1 56.9
% Change 45.8 36.4 27.1 41.4 10.7
22
REVENUE BREAKDOWN 1H09 Office (rent), 2% Retail & Sport Area, 4%
Toll road, 0%
Service Managem ent, 7%
Hous ing, 39%
Edutainment Water Park, 9%
Hotel & Resort, 6%
Apartment, 3%
Hotel (s trata), 16%
FY2009 Office (rent), 2%
Office (strata), 13%
Toll road, 0% Service Management, 5%
Retail & Sport Area, 4%
Housing, 28%
Edutainment Water Park, 5% Hotel & Res ort, 10%
Hotel (s trata), 16%
Apartm ent, 12% Office (strata), 19%
1H10
Off ice (rent), 1%
Toll road, 5% Service Management, 2%
Retail & Sport Area, 3%
Housing, 11% Apartment, 16%
Edutainment Water Park, 9%
Hotel & Resort, 15%
Office (strata), 18% Hotel (strata), 21%
23
2009
2 Q 10
1 Q 10
4 Q 09
3 Q 09
2008
2 Q 09
1 Q 09
4 Q 08
3 Q 08
2007
2 Q 08
1 Q 08
4 Q 07
3 Q 07
2006
2 Q 07
1 Q 07
4 Q 06
3 Q 06
2005
2 Q 06
1 Q 06
4 Q 05
450
3 Q 05
IDR bn
2 Q 05
1 Q 05
PENJUALAN KUARTALAN
2010
400
350
300
250
200
150
100
50
0
24
LAND BANK
Sep-10
Sentra Timur Residence
Dec-06
Land Bank
Development Area
Additional
Development Area
CBD Jakarta
16.3
53.5
8.8
44.7
East Jakarta
1.6
3.2
3.2
Location (Ha) City Property Rasuna Epicentrum
Sep-10
-
Landed Residential Bogor Nirwana Residence
Bogor
673.9
814.4
714.4
100.0
Ijen Nirwana Residence
Malang
12.0
22.4
22.4
-
Batam Nirwana Residence
Batam
25.8
40.0
40.0
-
Graha Taman Sukabumi
Sukabumi
2.4
5.1
-
5.1
Hotel & Resort Krakatoa Nirwana Resort
Lampung
99.8
103.2
30.5
72.8
Balikpapan Nirwana S. & R.
Balikpapan
3.2
3.3
3.3
-
Ubud Nirwana Villas
Ubud
4.2
4.2
4.2
-
Pullman Bali Legian Nirwana
Kuta
-
2.4
-
2.4
Nirwana Bali Resort
Tabanan
17.0
103.0
-
103.0
Lido Lake Resort
Bogor
935.7
1,037.0
1,037.0
25
PT . BAKRIELAND DEVELOPMENT TBK
Terima Kasih INVESTOR RELATIONS Nuzirman Nurdin (Corporate Secretary) Maratua Melano (Investor Relation) Iskandar M. Nasution (Investor Relation) Wisma Bakrie 1, 6th Floor Jl. HR Rasuna Said Kav. B-1 Jakarta 12920 Tel +62 21 525 7835 Fax +62 21 522 5063
[email protected] http://www.bakrieland .com Disclaimer: This presentation is for information purposes only and may contain forward-looking statements that involve risks and uncertainties. Many of which are difficult to predict and are generally beyond the control of the company. Such risks and uncertainties could cause actual results and developments to differ materially from those expressed in or implied in these statements. Considerable care has been taken in preparing information which is contained in this presentation. However, PT Bakrieland Development Tbk is unable to provide any warranty concerning the accuracy or completeness of any information contained herein.
LAMPIRAN
27
NERACA Rp miliar As of Cash & cash equivalents Fixed assets Inventories and land banks Other assets Total assets
Interest bearing liabilities*
2006
2007
2008
2009
1H10
33
1,043
740
760
591
638
701
952
4,616
5,099
1,328
3,007
4,373
3,671
4,065
397
957
2,269
2,546
2,254
2,396
5,708
8,335
11,593
12,010
73
298
1,121
3,062
3,147
-
-
-
1,145
Equity linked bond
-
Other liabilities
963
1,210
2,013
2,732
2,138
40
67
694
1,156
911
Equity
1,319
4,133
4,508
4,643
4,670
Total liabilities & Equity
2,396
5,708
8,335
11,593
12,010
Minority interest
* Obtained from financial institutions
28
RASIO KEUANGAN
2006
2007
2008
2009
1H10
Revenue
393.2
782.1
1,053.8
1,059.0
537.5
Gross profit
167.2
321.1
510.8
498.1
245.6
Gross margin
42.5%
Operating profit
72.2
Operating margin
18.4%
EBITDA
83.2
EBITDA margin
21.2%
41.1%
170.5 21.8%
190.7 24.4%
134.2
48.5%
226.0 21.4%
266.8 25.3%
166.8 15.7%
230.3 21.7%
132.3
45.7%
81.3 15.1%
116.1 21.6%
Net profit
67.6
Net margin
17.2%
17.2%
25.8%
12.5%
11.7%
ROA (annualized) ROE (annualized)
2.8% 5.1%
2.4% 3.2%
3.3% 6.0%
1.5% 3.8%
1.0% 2.7%
Debt to Equity * Net Gearing *
5.5% 3.1%
7.2% -18.0%
24.9% 8.4%
66.0% 49.6%
67.4% 54.7%
EBITDA/share EPS
14.9 12.1
13.4 13.7
11.6 6.6
9.7 6.8
272.1
47.0%
63.0
5.8 3.2
* Excluding ELB 1. 2. 3.
Marketing sales were not 100% recognized as revenue All assets were recorded at cost, not marked to market Third right issue of IDR 2.8 trillion in 2007
29
APPENDIX 1, BAKRIELAND BAKRIELAND’S RECURRING INCOME ASSETS
Bakrie Tower *
Wisma Bakrie 2
Wisma Bakrie 1
Aston Rasuna Hotel *
Lifestyle Center *
Pasar Festival
Jungle Edutainment Park
Jungle Mall
Aston Hotel Bogor *
Pullman Bali Legian Nirwana *
Nirwana Bali Resort
Kanci-Pejagan Toll Road
* Partly retained
30
APPENDIX 1, BAKRIELAND
TRACK RECORD PENGEMBANGAN PROJECTS
EST. DEV. COST (IDR-bn) (USD-mn) *
GFA (sqm)
LAND (HA)
84
85 TO 92
93
CONSTRUCTION PERIOD 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09
OFFICE BUILDING Wisma Bakrie 1
45
23
14,206
0.4
Wisma Bakrie 2
142
54
33,139
0.4
7
3
3,264
0.2
10
4
3,411
0.3
1,500
636
485,972
3.5
172
19
56,044
0.5
Klub Rasuna
24
11
6,244
2.3
Pasar Festival/GMSB
51
23
52,405
3.4
Nyi Ageng Serang - MPH
33
15
18,000
1.6
Bogor Nirwana Residence 1
50
10
80,845
30
Bogor Nirwana Residence 2
Wisma Bakrie BLD Graha Kapital MIXED USE DEVELOPMENT Taman Rasuna Apartment The 18th Residence
HOUSE 538
57
117,268
70
Graha Taman Kebayoran
43
5
32,143
14
Graha Taman Elang
37
17
22,852
13
Bali Nirwana Resort
254
106
56,567
103
Krakatoa Nirwana Resort
HOTEL & RESORT 125
13
10,296
75
Intan legian Hotel - Bali
39
17
7,912
2.4
Quality Hotel - Yogyakarta
40
18
13,844
1.7
Quality Hotel - Jakarta
13
6
2,100
0.6
TOLL ROAD Kanci Pejagan
TOTAL
2,200
232
N/A
225
5,323
1,268
1,016,512
547
* US$ at the time of development
31
