CIKARANG, June 22, 2020 –PT Puradelta Lestari Tbk and Subsidary (“the Company”), property developer of modern industrial estate of Kota Deltamas, recorded revenues of Rp108 billion and net profit of Rp53 billion in the first quarter of 2020.
The revenues and net profit results were higher than the revenues and net profit in the first quarter of the previous year of Rp6 billion and Rp8 billion, respectively, since the Company did not recorded any industrial land sales in the first quarter of 2019.
From the total revenues, industrial segment contributed the most with revenues of Rp46 billion or around 42.5% from total revenues, followed by commercial segment with revenue of Rp39 billion or 36.6% from total revenues, and residential segment with revenue of Rp16 billion or 15.3% from total revenues. Hotel segment and rental segment each contributed Rp3.2 billion and Rp2.7 billion, respectively.
Tondy Suwanto, Director of the Company reveals that industrial segment is still being the backbone of the Company’s business. “Industrial Estate of GIIC (Greenland International Industrial Center) in Kota Deltamas is currently one of the primary targets for industrial land investors,” said Tondy Suwanto. “Since 2019, industrial land inquiries continue to increase and the results will be reflected in our revenues in 2020,” added him.
The Company booked gross profit of Rp73 billion, higher than the gross profit in the same period of the previous year of Rp4 billion. The Company booked gross profit margin of 67.9%, higher if compared to the 2019 first quarter’s gross profit margin of 63.0%. This was mostly due to increasing gross profit margin from industrial and residential segment.
The Company recorded operating profit of Rp31 billion and operating profit margin of 29.2%. As for first quarter of 2019, the Company booked operating loss of Rp27 billion.
The Company booked other incomes (net) of Rp25 billion with most contribution came from gain on foreign exchange (net) of Rp15 billion and gain from estate management operation and others (net) of Rp13 billion. However, this achievement was lower than other incomes in the same period in 2019, which was Rp42 billion, whereby contribution from gain on foreign exchange (net) and gain from estate management operation and others (net) were Rp12 billion and Rp32 billion, respectively.
The Company booked profit before tax of Rp57 billion, or grew by 262.1% compared to profit before tax in the preceding year of Rp16 billion.
The Company booked net profit of Rp54 billion, or grew by 552.0% compared to net profit in first quarter of 2019 of Rp8 billion. Net profit margin is recorded 49.6%.
From the fundamental side, total assets of the Company as of March 31, 2020 was Rp7.66 trillion, 0.6% higher than total assets of the Company as of December 31, 2019 of Rp7.62 trillion. Net cash position of the Company as of March 31, 2020 was Rp668 billion, 0.1% higher than net cash position as of December 31, 2019 of Rp667 billion. 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.