PT Pakuwon Jati, Tbk.
Code: PWON,IJ (Bloomberg). PWON,JK (Reuters)
PWON Revenue 1H 2021 Grows by 25%


Press Release

Financial Performance 1st Semester 2021

PT Pakuwon Jati (PWON) posted a net income in 1H 2021 of Rp 2,460 billion, up 24.6% from 2020 which amounted to Rp 1,974 billion. Gross profit was recorded in Rp 1,171 billion, up 21.0% from 2020 which amounted to Rp 968 billion. While EBITDA was recorded in Rp 1,250 billion, up 24.6% from 2020 which amounted to Rp 1,003 billion.

In April 19, 2021, the Company issued Bonds amounted to US$ 300 million and additional Bonds of US$ 100 million in May 17, 2021 with interest 4.875% and tenor 7 years. The proceed of which will be  used for repayment of Senior Notes maturing 2024 amounted to US$250 million and for general corporate purposes.

Comprehensive income exclude foreign exchange of Rp 94 billion and penalties for redemption of Bonds of Rp 99 billion grew 15.2% from previous year’s Rp 625 billion to Rp 720 billion. 

Rp Billion


Income composition for 2021 consisted of 54% recurring revenue and 46% development revenue. This is consistent with Company's mission to grow with balanced recurring and development revenue.

Company's recurring revenue of 2021 was booked at Rp 1,329 billion, a decrease of 16.4% compared to that of last year of Rp 1,141 billion.

In contrast, Company’s development revenue of 2021 was recorded at Rp 1,132 billion which was higher than last year’s Rp 833 billion.


Based on the revenue per segment, retail leasing and condominiums contributed the most with 41% and 29% respectively. Followed by landed house 15%, hotel and serviced apartments 8%, office leasing 5%, and office sales 2%.


Marketing Sales 1H 2021 increased 64% yoy

The lower interest rate and VAT incentives from the government has successfully pushed Company's marketing sales in 1H 2021 to Rp 820 billion, an increase of 64% compared to same period last year. The marketing sales achieved is equivalent to 58.6% of the company's total sales target of Rp 1,400  billion.

The composition of sales in 1H 2021 is 52% landed houses, 48% condominiums and offices.


Capital Expenditure

Capital expenditure of 1H 2021 was to fund project such as Kota Kasablanka phase 2, Tunjungan Plaza 6, Pakuwon Mall phase 3 and 4, East Coast Mansion and Pakuwon Mall Bekasi amounted to Rp 269 billion.


Overview of PT Pakuwon Jati Tbk

Pakuwon Jati, is the owner, manager and property developer who entered his 39th in 2021. The company has been listed on the IDX since 1989. The company has a well-diversified business concept through investment property, where Pakuwon develops, owns and manages commercial, office and hotel shopping centers and property development, besides Pakuwon Jati develops strata-tittle offices and condominiums. development of township for sale. Pakuwon Jati will continue to grow with a balanced growth strategy between recurring and development revenue.

The following is the Company's property portfolio:

  • Superblock Gandaria City, Jakarta (retail shopping centers, apartments, offices and hotels)
  • Kota Kasablanka Superblock, Jakarta (retail shopping centers, apartments and offices)
  • Somerset Berlian, Jakarta (service apartment)
  • Blok M Plaza, Jakarta (retail shopping center)
  • Tunjungan City Superblock, Surabaya (retail shopping centers, apartments, offices and hotels)
  • Pakuwon Mall Superblock, Surabaya (retail shopping centers, service apartments, as well as 4-star apartments and hotels and 5-star hotels under construction)
  • Royal Plaza, Surabaya (retail shopping center)
  • Pakuwon City township, East Surabaya (landed residential, retail shopping centers and apartments)
  • East Coast Mansion (apartment under construction), Educity apartment, East Surabaya
  • Grand Pakuwon township (landed residential) and Food Junction (Hypermarket, culinary & leisure destination), West Surabaya
  • Pakuwon Mall Superblock, Bekasi (retail shopping center, service apartments and hotels to be built)
  • Hartono Mall Yogyakarta and Hotel (retail shopping center and hotel)
  • Hartono Mall Solo (retail shopping center)


For additional information, please contact :

Minarto Basuki (Director and Corporate Secretary) 
PT Pakuwon Jati, Tbk.

Pakuwon City Mall 5th Floor 
Jl. Kejawan Putih Mutiara No. 17, Surabaya
Telepon : (6231) 58208788