PT Puradelta Lestari Tbk’s Net Profit Grew by 43.7% in the First Quarter of 2022

CIKARANG, May 11, 2022 –PT Puradelta Lestari Tbk and Subsidiary (“the Company”), property developer of modern integrated industrial township of Kota Deltamas, recorded net profit of Rp389 billion in the first quarter of 2022, or grew by 43.7% from the net profit in the first quarter of 2021 of Rp271 billion.

In the first quarter of 2022, the Company recorded revenues of Rp621 billion, or 16.3% higher than the revenues in the first quarter of 2021 of Rp534 billion.

From the total revenues, industrial segment contributed the most with revenue amount of Rp431 billion or around 69.4% from the total revenues, followed by commercial segment with revenue amount of Rp176 billion or 28.4% from the total revenues and residential segment with revenue of Rp9 billion or 1.4% from total revenues. Furthermore, revenue contributions from hotel and rental segments to the total revenues are 0.4% and 0.3% respectively.

“The Company’s revenues from industrial segment mainly came from industrial land sales to industrial customers from data center sector,” said Tondy Suwanto, Director and Corporate Secretary of the Company.

The Company’s gross profit grew by 45.9% from Rp306 billion in the first quarter of 2021 to Rp447 billion in the first quarter of 2022. Tondy Suwanto explained that in the first quarter of 2022, the gross profit margin experienced a significant increase. “The Company’s gross profit margin increased from 57.4% in the first quarter of 2021 to 72.0% in the first quarter of 2022,” said Tondy Suwanto.

In line with the gross profit growth, operating profit of the Company grew by 49.3% to Rp382 billion in the first quarter of 2022 compared to Rp256 billion in the same period of the previous year. The operating profit margin increased to 61.5% in the first quarter of this year in comparison to the operating profit margin in the first quarter of last year  of 47.9%.

The Company booked net profit in the first quarter of 2022 of Rp389 billion, or grew by 43.7% compared to net profit in the same period in the previous year of Rp271 billion. Meanwhile, net profit margin was recorded at 62.7%, higher than the net profit margin in the same period in 2021 of 50.7%.

From a fundamental perspective, total assets of the Company as of March 31, 2022 was Rp6.60 trillion, which was Rp483 billion or 7.9% higher than total assets of the Company as of December 31, 2021 of Rp6.11 trillion, whereby the hike was mainly due to increasing cash and cash equivalent. Cash and cash equivalent position as of March 31, 2022 was Rp1.06 trillion, which was Rp461 billion or 76.9% higher than cash and cash equivalent position as of December 31, 2021 of Rp599 billion.

Meanwhile, total liabilities of the Company as of March 31, 2022 was recorded at Rp856 billion, which was Rp93 billion or approximately 12.2% higher than total liabilities of the Company as of December 31, 2021 of Rp763 billion.  Increase of total liabilities was mainly due to increase of contract liabilities, both current and non-current, of Rp88 billion or around 18.0%. Total equities (net) as of March 31, 2022 increased around 7.3% to Rp5.74 trillion compared to the total equities (net) as of December 31, 2021 of Rp5.35 trillion.

The Company does not have any debt. With healthy net cash position, the Company strives to develop Kota Deltamas to realize Kota Deltamas as an integrated township at east of Jakarta by combining industrial, residential, and commercial estates.

PT Puradelta Lestari Tbk at a Glance

PT Puradelta Lestari Tbk is an integrated township developer of Kota Deltamas, located in Central Cikarang, with total development area up to around 3,200 hectares. Kota Deltamas is a prime township at east of Jakarta with strategic location, wide land bank, direct toll access, and equipped with comprehensive facilities and infrastructures.

PT Puradelta Lestari Tbk. continues to develop its world class infrastructures to support its self-sustained integrated township, consists of industrial, residential, and commercial area, and extend its facilities to assure life quality of all workforce in the industrial area, residents, and its surrounding community. New facilities will continue to emerge in the township, including education institutions, serviced apartment, and commercial centre development plan in Kota Deltamas. In addition, Kota Deltamas is equipped with proper estate management, including assurance of security, clean environment, and convenience, as well as comprehensive master plan.

Majority and controlling shareholders of PT Puradelta Lestari Tbk are PT Sumber Arusmulia (57.28%), which is part of Sinar Mas Land, prominent developer in Indonesia, and Sojitz Corporation (25.00%), a Japanese general trading company with network in over 50 countries in the world.

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