PT KAWASAN INDUSTRI JABABEKA TBK

Financials PT Kawasan Industri Jababeka Tbk

Equities

KIJA

ID1000072507

Real Estate Development & Operations

End-of-day quote INDONESIA S.E. Other stock markets 03:30:00 17/05/2024 am IST			5-day change	1st Jan Change
123 ^IDR	-0.81%		+3.36%	-8.21%

30/04	PT Kawasan Industri Jababeka Tbk Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
2023	PT Kawasan Industri Jababeka 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	57,47,669	60,80,867	44,56,526	34,08,376	29,97,729	27,51,340
Enterprise Value (EV) ¹	91,80,952	92,29,690	75,13,620	65,91,821	66,64,507	60,70,667
P/E ratio	140 x	51.2 x	-92.5 x	-660 x	-46.8 x	9 x
Yield	-	-	-	-	-	-
Capitalization / Revenue	2.12 x	2.7 x	1.86 x	1.37 x	1.1 x	0.84 x
EV / Revenue	3.39 x	4.09 x	3.14 x	2.65 x	2.45 x	1.84 x
EV / EBITDA	10.4 x	16.2 x	10.8 x	8.17 x	6.71 x	6.72 x
EV / FCF	-82.3 x	114 x	20.9 x	181 x	806 x	62.6 x
FCF Yield	-1.22%	0.88%	4.78%	0.55%	0.12%	1.6%
Price to Book	1.09 x	1.13 x	0.84 x	0.65 x	0.58 x	0.5 x
Nbr of stocks (in thousands)	2,08,24,888	2,08,24,888	2,08,24,888	2,05,32,388	2,05,32,388	2,05,32,388
Reference price ²	276.0	292.0	214.0	166.0	146.0	134.0
Announcement Date	28/03/19	21/04/20	01/04/21	28/04/22	21/03/23	30/04/24

¹IDR in Million²IDR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net sales ¹	27,11,870	22,53,944	23,96,086	24,90,256	27,20,261	32,91,891
EBITDA ¹	8,86,294	5,70,709	6,98,619	8,06,488	9,92,788	9,03,081
EBIT ¹	7,21,829	4,02,907	5,24,728	6,55,268	8,35,814	7,28,477
Operating Margin	26.62%	17.88%	21.9%	26.31%	30.73%	22.13%
Earnings before Tax (EBT) ¹	1,17,988	2,14,479	61,997	1,29,081	48,892	6,20,702
Net income ¹	40,971	1,18,806	-47,794	-5,165	-64,035	3,05,576
Net margin	1.51%	5.27%	-1.99%	-0.21%	-2.35%	9.28%
EPS ²	1.967	5.705	-2.313	-0.2516	-3.119	14.88
Free Cash Flow ¹	-1,11,574	80,795	3,59,052	36,444	8,270	97,027
FCF margin	-4.11%	3.58%	14.98%	1.46%	0.3%	2.95%
FCF Conversion (EBITDA)	-	14.16%	51.39%	4.52%	0.83%	10.74%
FCF Conversion (Net income)	-	68.01%	-	-	-	31.75%
Dividend per Share	-	-	-	-	-	-
Announcement Date	28/03/19	21/04/20	01/04/21	28/04/22	21/03/23	30/04/24

¹IDR in Million²IDR

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net Debt ¹	34,33,282	31,48,822	30,57,094	31,83,444	36,66,778	33,19,327
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.874 x	5.517 x	4.376 x	3.947 x	3.693 x	3.676 x
Free Cash Flow ¹	-1,11,574	80,795	3,59,052	36,444	8,270	97,027
ROE (net income / shareholders' equity)	1.12%	2.28%	0.72%	1.39%	0.64%	7.87%
ROA (Net income/ Total Assets)	3.91%	2.1%	2.69%	3.34%	4.11%	3.49%
Assets ¹	10,46,674	56,54,207	-17,76,875	-1,54,455	-15,56,971	87,44,487
Book Value Per Share ²	253.0	258.0	255.0	256.0	253.0	266.0
Cash Flow per Share ²	42.20	48.30	57.40	54.10	64.60	53.30
Capex ¹	65,920	1,11,055	46,586	56,611	2,75,423	1,86,753
Capex / Sales	2.43%	4.93%	1.94%	2.27%	10.12%	5.67%
Announcement Date	28/03/19	21/04/20	01/04/21	28/04/22	21/03/23	30/04/24

¹IDR in Million²IDR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Other Real Estate Development & Operations

	1st Jan change	Capi.
PT KAWASAN INDUSTRI JABABEKA TBK	-8.21%	16Cr
CHINA RESOURCES LAND LIMITED	+17.32%	3TCr
SUN HUNG KAI PROPERTIES LIMITED	-5.15%	2.81TCr
MITSUI FUDOSAN CO., LTD.	+26.23%	2.62TCr
DLF LIMITED	+17.21%	2.52TCr
CHINA OVERSEAS LAND & INVESTMENT LTD.	+20.06%	2.32TCr
MITSUBISHI ESTATE CO., LTD.	+40.97%	2.23TCr
POLY DEVELOPMENTS AND HOLDINGS GROUP CO., LTD.	+13.13%	1.84TCr
EMAAR PROPERTIES	-4.42%	1.82TCr
HENDERSON LAND DEVELOPMENT COMPANY LIMITED	+9.98%	1.64TCr

Other Real Estate Development & Operations

Stock Market
Equities
KIJA Stock
Financials PT Kawasan Industri Jababeka Tbk

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