JAKARTA – PT Lippo Cikarang Tbk (LPCK) recorded sales of IDR 1.18 trillion in Q3 2021, shifting down 25.8% from the same period last year of IDR 1.59 trillion. However, the management is still confident in boosting the sales up to IDR 1.35 trillion by the end of the year.
Rudy Halim, Chief Executive Officer (CEO) of PT Lippo CIkarang Tbk (LPCK), claimed that the revenue decreased due to the fewer handovers of Orange County. “The housing handovers would increase in Q4 once Orang County was officially handed over, as would the industrial area demand,” he claimed in the press release on Wednesday (3/11).
Orange County is one of the commercial and shophouses areas currently being put on the market by LPCK this year.
The contributor to Q3 revenue came from the residential houses and apartment sales of IDR 819.6 billion, shifting from IDR 1.12 trillion; commercial and shophouses land sales of IDR 4.8 billion, slipping off from IDR 60.9 billion; and town management of IDR 243.5 billion, down from IDR 249.3 billion. Moreover, there were also industrial lot sales of IDR 71.5 billion, depleting from IDR 121.4 billion, and rental income and others of IDR 42.1 billion, climbing from IDR 36.8 billion.
LPCK’s gross profit was reported to reach IDR 500.1 billion, shrinking by 21.6% from IDR 637.7 billion. The total EBITDA by the end of Q3 2021 amounted to IDR 322.5 billion, coming from the real estate sector of IDR 191.7 billion and town management of IDR 130.8 billion. Meanwhile, in Q3 2020, LPCK’s EBITDA could reach IDR 421.3 billion. (LK/ZH)