9 April 2020

Ciputra Development Books Rp1.2 Trillion Net Income in 2019

PT Ciputra Development Tbk (“the Company”) today reported its financial statement for the year ended December 31, 2019. The Company managed to book Rp1.2 trillion net income in 2019 or a decrease of 2% year-on-year. Hence, earnings per share (EPS) for 2019 were at Rp62.

The Company’s total revenue in 2019 fell by 1% to Rp7.6 trillion. The decline was due to the recognition of en bloc sale of apartment worth of Rp675 billion in the prior year. The management was pleased with the Company’s performance as the fall due to en bloc sale was able to be offset by the revenue growth in recurring income segment.

Segment-wise, the Company successfully improved the contribution from recurring income segment to total revenue to 25%. This achievement was in-line with the Company’s business strategy in generating stable source of income by increasing the portion of recurring income segment. Compared to 2018, revenue generated from recurring income segment grew by 8% to Rp1.9 trillion. The growth was driven by stable lease income from shopping malls, additional contribution from the newly-operated Tokopedia Care Tower and improving patient volume across the Company’s hospital portfolio.

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