PT Pakuwon Jati, Tbk.
Kode Saham: PWON.IJ (Bloomberg), PWON.JK (Reuters)
1Q 2022, Comprehensive Profit Grows by 61%

 

Press Release

Financial Performance 1Q 2022

PT Pakuwon Jati (PWON) booked 2022 first quarterly net income Rp 1.307 billion, an increase of 17,1% from previous year of Rp 1.116 billion. Gross profit was recorded at Rp 678  billion, a 30,6%  increase from last year’s Rp 519 billion. Meanwhile, EBITDA amounted to Rp 731 billion, an increase of 28,6% compared to last year of Rp 569 billion. Comprehensive profit was Rp 409 billion, increasing 60,8% from last year of Rp 254 billion.

 

Revenue breakdown of 2022 is 64% recurring revenue and 36% development revenue. 

 

Recurring revenue in 1Q 2022 reached Rp 842 billion, increasing 38,1% compared to that of year 2021 at Rp 610 billion, especially income from mall retail and hotel that show economy recovery in 2022.

Development revenue in 2022 is at Rp 465 billion, 8,1% lower compared to last year of Rp 506 billion.

Based on revenue per segment, biggest contributors are retail leasing  and condominium sales 46% and 28% accordingly, followed by Hotel and Serviced Apartments  13%, landed houses and office leasing 6% ,and office sales 1%.

 

Marketing Sales 2022 

Marketing sales in 1Q 2022 achieved Rp 380 billion  with breakdown as follow, landed houses 45%,  condominium 38% and office 18%; this achievement is partly supported by extended government VAT incentive program. 

 

Capital Expenses

Capital expenses during 1Q 2022 amounted to Rp 165 billion was allocated to fund construction projects such as Pakuwon Mall Bekasi, Mall and hotel renovations, as well as landbank acquisition.

 

Overview of PT Pakuwon Jati Tbk.

Pakuwon Jati, is the owner, manager, and property developer who has been in the field for 40 years. Pakuwon Jati is the first property developer to be listed on BEI in 1989 and is still listed until today. The Company has business concept that is diversified through property investment, where Pakuwon Jati develops, owns, and manages commercial shopping centers, office buildings, hotels, as well as property development. Besides, Pakuwon Jati also develops office buildings, strata-title condominiums, and township-scale residential. Pakuwon Jati strives to continue growing with balanced recurring and development revenue.

 

Below is the Company’s 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, serviced apartments, 4-star and 5-star hotels)
  • Royal Plaza, Surabaya (retail shopping center)
  • Pakuwon City township (landed residential), Pakuwon City Mall (retail shopping center), and East Coast Mansion (apartment under construction), as well as Educity Apartment, in East Surabaya
  • Grand Pakuwon township (landed residential) and Food Junction (Hypermarket, culinary & leisure destination), in West Surabaya
  • Superblok Pakuwon Mall, Bekasi (retail shopping center, apartment, and hotels that are all under construction)
  • Hartono Mall Yogyakarta dan Hotel (retail shopping center and 5-star hotel)
  • Hartono Mall Solo (retail shopping center)

 

For further 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
Email: minartobasuki@pakuwon.com
Website: www.pakuwonjati.com