PT Lippo Karawaci Tbk (LPKR) Q1 2025 earnings summary

Executive summary

• First quarter 2025 revenue reached IDR 2.06 trillion, with 84% from Real Estate and 16% from Lifestyle segments; total assets ranged from IDR 51 trillion to IDR 61 trillion and equity at IDR 31 trillion.

• Net profit after tax was IDR 169 billion in 1Q25, reversing a loss of IDR 179 billion in 1Q24, aided by operational improvements and a 74% reduction in interest expense.

• Real estate marketing sales reached IDR 1.26 trillion, achieving 20–26% of the full-year target, supported by strong demand for affordable landed housing.

• Lifestyle segment saw revenue rise 13% YoY to IDR 322 billion, with EBITDA up 59% YoY to IDR 106 billion, driven by higher mall footfall and cost optimization.

• Healthcare segment (SILO) results are pending or excluded due to deconsolidation and limited review.

Financial highlights

• Like-for-like revenue grew 31–39% YoY in 1Q25, led by Real Estate Development; statutory revenue was IDR 2.06 trillion.

• EBITDA for Q1 was IDR 321–375 billion, with an 18% margin; gross profit ranged from IDR 577 billion to IDR 817 billion.

• Net profit reached IDR 169 billion, a turnaround from a loss of IDR 179 billion in the previous year.

• Net interest expense dropped 71–74% YoY, reflecting significant debt repayments.

• Cash at end of 1Q25 was IDR 2.77 trillion, down from IDR 5.3 trillion at end-2024, mainly due to debt repayments.

Outlook and guidance

• FY25 marketing sales target set at IDR 6.25 trillion, with management confident in achieving it.

• Continued focus on affordable housing, asset enhancements in malls, and innovation in real estate products.

• Lifestyle segment expects continued growth in mall footfall and F&B revenue, with new experiential retail concepts.

• Healthcare segment plans to add 1,124 new operational beds by 2027, reinforcing its leadership.

• Management remains focused on operational resilience and further deleveraging.