PT Pakuwon Jati, Tbk.
Kode Saham: PWON.IJ (Bloomberg), PWON.JK (Reuters)
PWON Achieves 14.7% Net Income Growth in 9M 2024

 

Finance Performance 9M 2024

PT Pakuwon Jati (PWON) booked net revenue up to September 2024 at Rp 4.79 trillion, an increase of 4.7% compared to same period last year of Rp 4.57 trillion. Gross Profit is recorded at Rp 2.72 trillion, an increase of 8.2% compared to same period last year of Rp 2.51 trillion. EBITDA of Rp 2.62 trillion is 4.3% better than same period last year of Rp 2.51 trillion while Net Profit increases 14.7% from Rp 1.71 trillion last year to Rp 1.96 trillion this year.

 

Total Company’s recurring revenue in nine months increases 11% from Rp 3.42 trillion last year to Rp 3.81 trillion this year which comprises revenue from retail mall of Rp 2.54 trillion, up 10% from Rp 2.32 trillion same period last year, revenue from office leasing Rp 275 billion, a 17% increase from Rp 234 billion last year, and revenue from hospitality of Rp 987 billion, 14% better than last year of Rp 867 billion. 

Development revenue for nine-month period amounts to Rp 981 billion, a decline from Rp 1.15 trillion in same period last year. 

Breakdown of Revenue per segment reveals that retail leasing accounts for 53%, hotel and serviced apartment 21%, office leasing 6%, condominium 10%, landed house sales 9% and office sales 1%.

 

Marketing Sales 9M 2024 

Company reported marketing sales of Rp 1.13 trillion during nine month-period 2024, mainly driven by sales of apartment units in Pakuwon Mall Surabaya, Pakuwon Residences Bekasi, Eastcoast Mansion Surabaya and Kota Kasablanka Jakarta with support from sales of landed-house in Grand Pakuwon township and Pakuwon City township.

Notably, 64% of the total marketing sales derived from government’s PPNDTP incentive program that was in force since the last quarter of 2023. 

Sales composition during nine-month 2024 includes 47% from landed houses and 53% from sales of condominiums and office units. 

 

Capital Expenditure

Capital expenditure up to September 2024 amounts to Rp 1.3 trillion, mainly used to fund Pakuwon Mall Bekasi, Pakuwon City Mall Surabaya construction project as well as to buy land bank in Semarang, Pakuwon City area and in Yogyakarta.

 

Pakuwon Jati Overview

Pakuwon Jati Tbk (PWON: IDX) is a real estate developer with over 42 years of experience in developing and operating properties in Indonesia. Established in 1982 and listed on the Jakarta Stock Exchange since 1989, Pakuwon Jati is a diversified real estate developer focused in Surabaya, Jakarta, Bekasi, Yogyakarta, Solo, Bali and Batam. Its key portfolio includes retail, residential, commercial and hospitality developments. The Company is vertically integrated across the entire real estate value chain from land acquisition, property development, marketing to operational management. Pakuwon Jati is the pioneer of Superblock concept in Indonesia, a large-scale integrated development comprising retail shopping centers, offices, condominiums, and hotels, with proven track record and strong reputation in the property industry enabling the Company to establish long-term relationships with tenants and buyers, providing a solid foundation for rapid business expansion.

Below is the Company’s portfolio:

  • Gandaria City Superblock , Jakarta (retail shopping center, apartment, office building and hotel)
  • Kota Kasablanka Superblock, Jakarta (retail shopping center, apartment, and office building)
  • Somerset Berlian, Jakarta (serviced apartment)
  • Blok M Plaza, Jakarta (retail shopping center)
  • Tunjungan City Superblock, Surabaya (retail shopping center, apartment, office building and hotel)
  • Pakuwon Mall Superblock, Surabaya (retail shopping center, apartment, serviced apartment, and hotel) and Pakuwon Mall Mansion phase 5 (3 apartment towers) which is under construction
  • Royal Plaza, Surabaya (retail shopping center)
  • Pakuwon City township (landed residential), Pakuwon City Mall (retail shopping center), Amor Tower and Bella Tower, and East Coast Mansion phase 3 (third tower and hotel that are 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
  • Pakuwon Mall Superblock, Bekasi (retail shopping center, apartment, and hotel that are under construction)
  • Pakuwon Mall Jogja and Yogyakarta Marriot Hotel (retail shopping center and hotel)
  • Pakuwon Mall Solo Baru (retail shopping center)
  • Four Points by Sheraton Bali, Kuta (hotel)

 

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
Telp : (6231) 99218800
Email: corpsec@pakuwon.com
Website: www.pakuwonjati.com