PT Alam Sutera Realty (ASRI) Investor Presentation summary

Company overview

• Leading Indonesian township developer with a large, well-located landbank supporting 15–20 years of operations.

• Established in 1994, listed on IDX since 2007 (ASRI), with a proven track record in residential and commercial projects.

• Main developments include Alam Sutera (800 ha, near Jakarta) and Suvarna Sutera (2,600 ha license, phase one 900 ha).

• Portfolio includes office towers in Jakarta, Garuda Wisnu Kencana Cultural Park in Bali, and new projects in Sawangan.

• Diversified revenue and customer base, with expansion beyond Tangerang.

Financial performance and sales

• 1H2024 marketing sales reached IDR 1.2tn, up 20% y-o-y; residential contributed 84% (IDR 996bn).

• 1H2024 revenue grew 18% y-o-y to IDR 1.88tn, with gross profit and operating income up 18% and 21% respectively.

• LTM EBITDA stood at IDR 1.8tn; net income for 1H2024 was IDR 24.4bn.

• Full repayment of USD 251mn 2025 bonds in July 2024 eliminated all USD debt, strengthening the balance sheet.

• 2024 marketing sales target set at IDR 2.8tn, with residential and commercial segments.

Project launches and portfolio highlights

• Launched Cassia Cluster (Ayodhya) and Agra Cluster (Suvarna Sutera) in 1H2024, contributing IDR 110bn in sales.

• The Gramercy project contributed IDR 220bn in 1H2024 sales; launched in 4Q2023 with units from IDR 16bn.

• Elevee Residences (launched 2020) offers units from IDR 2bn; Escala features high-value commercial lots.

• Suvarna Sutera has sold over 7,000 houses, land lots, and shophouses since 2011.

• Garuda Wisnu Kencana Cultural Park in Bali saw record 1.3 million visitors in 2023, with 9% y-o-y revenue growth.