PT Lippo Karawaci Tbk (LPKR) investor relations material

Executive summary

• Revenue for the first nine months of 2025 ranged from IDR 5.51 trillion to IDR 6.51 trillion, with growth driven by real estate handovers and stable lifestyle and healthcare segments, but impacted by the deconsolidation of the healthcare segment.

• Underlying NPAT grew 8% year-over-year to IDR 442 billion, supported by lower financing costs and improved associate contributions.

• Real estate marketing sales reached IDR 4.02 trillion, achieving 64% of the full-year target of IDR 6.25 trillion, with landed housing as the main driver.

• Deconsolidation of Siloam and sale of stakes in the prior year significantly impacted year-on-year comparisons and resulted in lower consolidated revenues and profits.

• Total assets as of September 30, 2025, were IDR 49.35 trillion, down from IDR 53.78 trillion at year-end 2024, reflecting asset sales and deconsolidation.

Financial highlights

• Real estate revenue rose 74% year-over-year to IDR 5.51 trillion; EBITDA up 4% to IDR 843 billion with a 15% margin.

• Pro forma revenue growth was 52% year-over-year, excluding Siloam's prior consolidation.

• Underlying NPAT reached IDR 442 billion, up 8% year-over-year; reported NPAT at IDR 368 billion, lower due to one-off gains last year.

• Net interest expense dropped to IDR 175 billion from IDR 765 billion, reflecting successful deleveraging.

• Gross profit for the period was IDR 2.20 trillion, compared to IDR 4.05 trillion in the prior year.

Outlook and guidance

• Management remains confident in reaching the full-year marketing sales target of IDR 6.25 trillion, with several new launches planned for Q4.

• Sustained demand is expected in both affordable and premium housing segments, with continued focus on operational efficiency and portfolio expansion.

• The group continues to focus on real estate development and lifestyle segments after the deconsolidation of healthcare.