Enhancing Kota Jababeka's Value Proposition
Outlook & Guidance for 2021
Marketing Sales & Other Highlights
2020 Real Estate Marketing Sales Achievement
Rp898.7bn realized in 2020, about 46% less compared
to 2019 mainly due to the Covid-19 pandemic
• On a positive note, the performance in 2H20 was
more than 2.5x 1H20 on the back of an industrial
pick-up in Kendal and Cikarang, and a successful
launch of a landed residential project in Cikarang
2021 Real Estate Marketing Sales Target
.
Rp1,400bn:
-
Rp1,000bn Cikarang & Others: 50/50 split
between Industrial vs Residential/Commercial
- Rp400bn Kendal: all industrial
Positive momentum of 2H20 carried on into early
2021
Solid pipeline for industrial in both Cikarang and
Kendal
Launch plan of 3-4 residential & commercial products
Infrastructure
-
resilient in terms of margin, cash flow
despite pressure on volume in 2020 (yoy reductions of
15% for water, 9% for power end-users, 24% for TEU port
volume offset by PLN capacity payments and other
infrastructure services in 2020 2021 expected to be in
line with 2020
-
Leisure & Hospitality not very material with overall
small contributions to earnings & cash flow
•
Cash Flow Overview for 2021:
Cash inflow:
Rp1,450bn
- 50% Backlog (3/4 Cikarang/others - 1/4 Kendal)
50% New Sales (2/3 Cikarang/others 1/3
Kendal)
Rp400bn Recurring EBITDA from power, water, port
and other recurring businesses
•
•
Total: Rp1,850 billion
Cash outflow
-
Rp250bn Construction & Land Development in
Cikarang
•
.
Rp400bn Infrastructure & Land Development in Kendal
Rp100bn Maintenance Capex
•
Rp150bn Land Acquisition (discretionary)
•
Rp400bn Interest
•
Rp450bn SG&A (excl. infra)
•
Rp150bn Tax
Total: Rp1,900 billion
Cash balance of Rp1.15trillion as at 31 December 2020
(compared to about Rp1trillion at the end of 2019).
Total debt expected to stay flat for the year as principal
repayments of loans at subsidiary / JV levels are mostly
offset by drawdown of maximum Rp100bn (likely less in
2021) of a new loan (provided by OCBC) at Kendal for
infrastructure development (cost of ~10% per annum)
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