PT LIPPO CIKARANG TBK

Financials PT Lippo Cikarang Tbk

Equities

LPCK

ID1000080302

Real Estate Development & Operations

End-of-day quote INDONESIA S.E. Other stock markets 03:30:00 08/05/2024 am IST			5-day change	1st Jan Change
655 ^IDR	-2.24%		+9.17%	-18.12%

26/04	PT Lippo Cikarang Tbk Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
22/03	PT Lippo Cikarang Tbk Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Valuation

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Capitalization ¹	10,26,600	27,19,794	38,05,032	32,28,918	26,79,600	21,43,680
Enterprise Value (EV) ¹	1,72,511	21,53,882	39,80,305	36,29,933	31,79,680	26,33,836
P/E ratio	0.48 x	4.6 x	-1.04 x	17.4 x	8.67 x	13.2 x
Yield	-	-	-	-	-	-
Capitalization / Revenue	0.48 x	1.64 x	2.11 x	1.79 x	2.15 x	2.04 x
EV / Revenue	0.08 x	1.3 x	2.21 x	2.01 x	2.56 x	2.51 x
EV / EBITDA	0.18 x	5.01 x	-8.22 x	11.1 x	7.45 x	10.4 x
EV / FCF	0.04 x	-4.24 x	164 x	27 x	-22 x	-5.69 x
FCF Yield	2,474%	-23.6%	0.61%	3.7%	-4.54%	-17.6%
Price to Book	0.15 x	0.26 x	0.6 x	0.51 x	0.4 x	0.31 x
Nbr of stocks (in thousands)	6,96,000	26,79,600	26,79,600	26,79,600	26,79,600	26,79,600
Reference price ²	1,475	1,015	1,420	1,205	1,000	800.0
Announcement Date	06/03/19	08/06/20	11/05/21	30/03/22	03/04/23	22/03/24

¹IDR in Million²IDR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net sales ¹	21,24,392	16,58,434	18,02,557	18,05,184	12,43,608	10,48,645
EBITDA ¹	9,51,961	4,30,233	-4,84,267	3,26,140	4,27,076	2,52,495
EBIT ¹	9,19,615	4,03,852	-5,23,671	2,98,706	3,98,401	2,30,353
Operating Margin	43.29%	24.35%	-29.05%	16.55%	32.04%	21.97%
Earnings before Tax (EBT) ¹	22,48,060	4,22,293	-36,04,406	1,75,972	3,39,216	1,42,267
Net income ¹	21,54,946	3,10,911	-36,54,135	1,85,322	3,09,205	1,61,921
Net margin	101.44%	18.75%	-202.72%	10.27%	24.86%	15.44%
EPS ²	3,096	220.7	-1,364	69.16	115.4	60.43
Free Cash Flow ¹	42,68,502	-5,08,080	24,248	1,34,339	-1,44,415	-4,62,943
FCF margin	200.93%	-30.64%	1.35%	7.44%	-11.61%	-44.15%
FCF Conversion (EBITDA)	448.39%	-	-	41.19%	-	-
FCF Conversion (Net income)	198.08%	-	-	72.49%	-	-
Dividend per Share	-	-	-	-	-	-
Announcement Date	06/03/19	08/06/20	11/05/21	30/03/22	03/04/23	22/03/24

¹IDR in Million²IDR

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net Debt ¹	-	-	1,75,273	4,01,015	5,00,080	4,90,156
Net Cash position ¹	8,54,089	5,65,912	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-0.3619 x	1.23 x	1.171 x	1.941 x
Free Cash Flow ¹	42,68,502	-5,08,080	24,248	1,34,339	-1,44,415	-4,62,943
ROE (net income / shareholders' equity)	30.4%	4.17%	-41.8%	2.16%	4.62%	1.61%
ROA (Net income/ Total Assets)	5.46%	2.35%	-2.98%	1.98%	2.69%	1.51%
Assets ¹	3,94,52,701	1,32,07,774	12,24,69,920	93,58,279	1,14,76,691	1,07,02,690
Book Value Per Share ²	9,571	3,945	2,367	2,379	2,493	2,550
Cash Flow per Share ²	895.0	195.0	237.0	140.0	77.10	76.90
Capex ¹	69,786	11,577	9,276	5,357	1,381	3,554
Capex / Sales	3.28%	0.7%	0.51%	0.3%	0.11%	0.34%
Announcement Date	06/03/19	08/06/20	11/05/21	30/03/22	03/04/23	22/03/24

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 LIPPO CIKARANG TBK	-18.12%	109M
MITSUI FUDOSAN CO., LTD.	+37.98%	28.37B
SUN HUNG KAI PROPERTIES LIMITED	-11.96%	27.34B
CHINA RESOURCES LAND LIMITED	+6.96%	26.59B
DLF LIMITED	+15.21%	25.28B
MITSUBISHI ESTATE CO., LTD.	+52.57%	23.37B
CHINA OVERSEAS LAND & INVESTMENT LTD.	+6.98%	20.39B
EMAAR PROPERTIES	+2.27%	19.71B
SUMITOMO REALTY & DEVELOPMENT CO., LTD.	+37.72%	16.22B
CK ASSET HOLDINGS LIMITED	-13.52%	15.11B

Other Real Estate Development & Operations

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