Supported By Real Estate Business And Siloam Hospitals, Lippo Karawaci Owned By Conglomerate Mochtar Riady Raised Revenue Of IDR 3.34 Trillion In The First Quarter Of 2022

JAKARTA - The property developer company owned by the conglomerate Mochtar Riady, PT Lippo Karawaci Tbk (LPKR), posted revenue of Rp. 3.34 trillion in the first quarter of 2022. The company's positive achievement was in line with the recovery of its real estate, health and lifestyle business lines.

Lippo Karawaci CEO John Riady said, LPKR's total revenue reached Rp3.34 trillion and EBITDA of Rp608 billion, supported by the performance of the real estate, healthcare, and lifestyle pillars.

"Indonesia is in a period of recovery and activities are gradually returning to normal, we believe macro conditions will also support our business growth in 2022," said Mochtar Riady's grandson in an official statement, quoted Friday, May 13.

The real estate pillar posted pre-sales of Rp1.21 trillion or 1,635 residential units in the first quarter of 2022, reaching 23 percent of the full year 2022 target of Rp5.2 trillion. The real estate pillar also posted an increase in Ebitda from Rp132 billion to Rp153 billion as the handover of landed housing units with higher margins increased.

"The property business is showing signs of recovery, which can be seen with the increase in pre-sales of the Cendana Home Series and Brava cluster products at Lippo Village Karawaci," he added.

In the healthcare pillar, PT Siloam International Hospitals Tbk (SILO) has demonstrated strong financial and operational performance. Siloam Hospitals' non-COVID-19 business growth remains resilient despite the impact of the Omicron variant earlier this year. Siloam posted revenue of Rp2.22 trillion and Ebitda of Rp392 billion in the first quarter of 2022.

Siloam Hospitals' net cash position also remained strong at Rp1.72 trillion. Along with the decline in COVID-19 cases, continued John, there was a recovery trend in the lifestyle pillar with revenues reaching Rp249 billion in the first quarter of 2022.

The number of mall visitors has recovered and reached a level of 56 percent from before the pandemic period. The hotel occupancy rate has also recovered and reached the level of 67 percent, from 2021 only 39 percent due to the lockdown due to the COVID-19 Delta variant.