Financial Info

In 2017, the Company recorded total revenue of Rp 938.27 billion, down by 0.9% from Rp 946.47 billion in 2016. The decrease was mainly attributable to the hotel, resort and golf segment, which contributed Rp 513.48 billion or 55% of total revenue. Revenue from the hotel, resort and golf segment decreased by 15.3% from Rp 606.34 billion in 2016 as some of the Company’s property operations were suspended to allow for new project construction.

The apartment and other property segment generated Rp 130.82 billion or 13.9% of revenue, an increase of 65.1% compared to the Rp 79.25 billion recorded in 2016. This was mainly due to sales of One East Penthouse & Residence Collection apartment units in Surabaya.

The office space lease segment recorded revenue of Rp 165.99 billion, decreasing by 2.9% from Rp 170.89 billion in 2016 and accounting for 17.7% of total revenue. Meanwhile, the security and other services segment recorded revenue of Rp 127.97 billion, up by 42.2% from Rp 89.99 billion in 2016. This segment accounted for 13.6% of total revenue.

Gross profit amounted to Rp 365.09 billion, growing by 1.04% from Rp 361.34 billion in 2016. The gross margin increased to 38.9% from 38.2% in 2016. EBITDA reached Rp 157.15 million with an EBITDA margin of 16.7%. The Company posted a net profit of Rp 1,295.32 billion.

At the end of 2017, two of the Company’s development projects entered the finishing phase and were ready to become a significant source of revenue in 2018. The two property assets are:

• Park Hyatt Tower, a 39-story building on Jalan Kebon Sirih, Jakarta, which is set to become a hub for international media companies and major Indonesian news agencies. In addition to offices, the Park Hyatt Tower will also have a luxury hotel managed by Hyatt Hotels under the Park Hyatt brand. The first Park Hyatt Hotel in Indonesia, it is planned to start operating in the second half of 2018.

• One East Penthouse & Residences Collection, a premium apartment building in East Surabaya. The property also features a 5-star hotel managed by Oakwood Management under the name of Oakwood Hotel & Residences. One East consists of 33 floors and 3 basement-levels and is scheduled to be fully operational by June 2018.