PT JAKARTA SETIABUDI INTERNASIONAL TBK

Financials PT Jakarta Setiabudi Internasional Tbk

Equities

JSPT

ID1000082001

Hotels, Motels & Cruise Lines

End-of-day quote INDONESIA S.E. Other stock markets 03:30:00 25/04/2024 am IST			5-day change	1st Jan Change
1,610 ^IDR	-.--%		-.--%	+24.32%

02/04	PT Jakarta Setiabudi Internasional Tbk Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	PT Jakarta Setiabudi Internasional Tbk Reports Earnings Results for the Nine Months Ended September 30, 2023	CI

Valuation

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Capitalization ¹	22,49,174	23,76,704	19,70,926	17,50,646	19,47,738	30,02,763
Enterprise Value (EV) ¹	25,73,533	31,28,448	34,03,760	33,86,177	35,80,133	46,63,359
P/E ratio	7.5 x	21.4 x	-13.8 x	-8.32 x	-43.2 x	15.7 x
Yield	1.96%	0.98%	-	-	-	-
Capitalization / Revenue	1.46 x	1.83 x	3.34 x	3.17 x	1.41 x	1.69 x
EV / Revenue	1.68 x	2.41 x	5.77 x	6.13 x	2.6 x	2.63 x
EV / EBITDA	4.06 x	8.84 x	137 x	428 x	7.35 x	7.25 x
EV / FCF	-11.4 x	-22.4 x	-19.6 x	-108 x	12.8 x	13.6 x
FCF Yield	-8.81%	-4.46%	-5.11%	-0.92%	7.79%	7.34%
Price to Book	0.96 x	0.99 x	0.89 x	0.87 x	0.97 x	1.56 x
Nbr of stocks (in thousands)	23,18,736	23,18,736	23,18,736	23,18,736	23,18,736	23,18,736
Reference price ²	970.0	1,025	850.0	755.0	840.0	1,295
Announcement Date	29/03/19	30/05/20	08/06/21	09/05/22	31/03/23	02/04/24

¹IDR in Million²IDR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net sales ¹	15,35,734	12,95,695	5,90,038	5,52,781	13,76,551	17,74,897
EBITDA ¹	6,33,413	3,53,930	24,804	7,904	4,87,089	6,43,414
EBIT ¹	5,35,636	1,71,531	-1,65,008	-2,22,325	2,36,208	4,26,580
Operating Margin	34.88%	13.24%	-27.97%	-40.22%	17.16%	24.03%
Earnings before Tax (EBT) ¹	5,23,522	1,62,378	-2,39,970	-3,28,705	-54,195	2,76,822
Net income ¹	3,00,083	1,10,903	-1,43,215	-2,10,408	-45,050	1,91,237
Net margin	19.54%	8.56%	-24.27%	-38.06%	-3.27%	10.77%
EPS ²	129.4	47.83	-61.76	-90.74	-19.43	82.47
Free Cash Flow ¹	-2,26,698	-1,39,681	-1,73,965	-31,305	2,78,894	3,42,509
FCF margin	-14.76%	-10.78%	-29.48%	-5.66%	20.26%	19.3%
FCF Conversion (EBITDA)	-	-	-	-	57.26%	53.23%
FCF Conversion (Net income)	-	-	-	-	-	179.1%
Dividend per Share ²	19.00	10.00	-	-	-	-
Announcement Date	29/03/19	30/05/20	08/06/21	09/05/22	31/03/23	02/04/24

¹IDR in Million²IDR

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net Debt ¹	3,24,359	7,51,744	14,32,835	16,35,531	16,32,395	16,60,596
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.5121 x	2.124 x	57.77 x	206.9 x	3.351 x	2.581 x
Free Cash Flow ¹	-2,26,698	-1,39,681	-1,73,965	-31,305	2,78,894	3,42,509
ROE (net income / shareholders' equity)	15.5%	4.39%	-7.46%	-11.6%	-1.93%	8.79%
ROA (Net income/ Total Assets)	7.3%	2.02%	-1.82%	-2.43%	2.51%	4.32%
Assets ¹	41,09,315	55,03,622	78,75,871	86,57,329	-17,95,257	44,31,816
Book Value Per Share ²	1,012	1,035	956.0	872.0	863.0	833.0
Cash Flow per Share ²	321.0	307.0	241.0	278.0	471.0	560.0
Capex ¹	5,48,375	3,82,796	1,59,399	1,09,596	58,904	1,27,225
Capex / Sales	35.71%	29.54%	27.02%	19.83%	4.28%	7.17%
Announcement Date	29/03/19	30/05/20	08/06/21	09/05/22	31/03/23	02/04/24

¹IDR in Million²IDR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Hotels & Motels

	1st Jan change	Capi.
PT JAKARTA SETIABUDI INTERNASIONAL TBK	+24.32%	232M
H WORLD GROUP LIMITED	+19.20%	12.52B
WHITBREAD PLC	-16.22%	6.92B
WYNDHAM HOTELS & RESORTS, INC.	-9.36%	5.85B
CHOICE HOTELS INTERNATIONAL, INC.	+2.40%	5.75B
SHANGHAI JIN JIANG INTERNATIONAL HOTELS CO., LTD.	-1.51%	3.95B
SHANGRI-LA ASIA LIMITED	+7.65%	2.65B
ATOUR LIFESTYLE HOLDINGS LIMITED	+6.05%	2.52B
BTG HOTELS (GROUP) CO., LTD.	-4.10%	2.3B
CHALET HOTELS LIMITED	+19.08%	2.27B

Hotels & Motels

Stock Market
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JSPT Stock
Financials PT Jakarta Setiabudi Internasional Tbk

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