PT Alam Sutera Realty (ASRI) Investor Presentation summary

Financial performance and highlights

• 1Q2025 revenue reached IDR 567.3bn, with land lot sales surging to IDR 272.5bn, up from IDR 35.7bn in 1Q2024, mainly due to commercial lot sales recognition.

• Gross profit margin improved to 61% from 51% despite a decrease in gross profit to IDR 345.0bn; interest expense reduced by 26% y-o-y, and debt-to-equity ratio improved to 52%.

• 1Q2025 comprehensive income was IDR 32.3bn, while net income dropped to IDR 23.1bn from IDR 212.1bn in 1Q2024.

• Marketing sales in 1Q2025 totaled IDR 745bn, a 30% y-o-y increase, with residential contributing IDR 448.5bn and commercial IDR 296.7bn.

• Cash and cash equivalents stood at IDR 495.6bn as of 1Q2025, with total assets of IDR 22,053bn and total debt of IDR 5,898.5bn.

Business overview and strategy

• Established in 1994, ASRI is a leading Indonesian property developer with a large, well-located landbank supporting operations for 15–20 years.

• Evolved from a single-project to a multi-project developer, diversifying revenue and customer base, and expanding beyond Tangerang.

• Corporate structure includes significant ownership by the Ning King Family and public shareholders.

• Board led by President Commissioner Haryanto Tirtohadiguno and President Director Joseph Sanusi Tjong.

Township and project development

• Alam Sutera township (800 ha) near Jakarta is the flagship project, with 39 clusters and ongoing projects like Elevee Residences, Cassia Cluster, and The Gramercy.

• Suvarna Sutera township (2,600 ha license, 900 ha phase 1) in Pasar Kemis has sold over 8,000 units since 2011.

• New launches include Sutera Rasuna (Alam Sutera 2) in 4Q2024, with the first cluster sold out and generating IDR 850bn in marketing sales.

• Sutera Nexen supercluster in Suvarna Sutera launched in December 2024, with Byte cluster’s first phase sold out for IDR 145bn.

• Other key clusters: Cassia (IDR 1.9–3.3bn/unit), Agra (IDR 1.6–2.0bn/unit), and Caksana (IDR 1.4–2.3bn/unit).