Supported by Residential Projects, Lippo Cikarang Books Marketing Sales of IDR 628 Billion

PT Lippo Cikarang Tbk (LPCK) recorded pre-sales of IDR 628 billion in the first semester of 2023, an increase of one percent compared to results in the first semester of 2022. This amount reached 45.7 percent of the 2023 target of IDR 1.38 trillion. The company reported total revenue of IDR 420 billion in the second quarter of 2023. This achievement increased 166 percent from the first quarter, bringing total revenue to IDR 578 billion. "Revenue mainly consists of the handover of inventory from housing and industrial projects as well as non-property income," said PT Lippo Cikarang Tbk CEO Rudy Halim in a press release, Wednesday (26/7/2023). Pre-sales in the first semester of 2023 were driven by strong demand for residential projects as well as high demand for industrial land, with contributions of 64 percent and 30 percent respectively. The remaining 6 percent consists of shophouses and commercial land. The company also sold 648 units from the above residential, industrial and commercial projects. The company reported that gross margin for the first semester of 2023 was 46 percent and operating expenses reached IDR 128 billion. The company's EBITDA remains positive at IDR 150 billion or 26 percent of revenue. Rudy is optimistic that there are still many opportunities for growth in the property industry. During the first semester of 2023, the Company has carried out pre-sales in accordance with the targets set despite facing many challenges in the property sector such as rising benchmark interest rates and inflationary pressures. "In facing 2023, we are confident that we will maintain our growth momentum with the right product mix strategy. We are also committed to continuing development to be able to carry out timely handover to our consumers," said Rudy. Source: https://ekonomi.republika.co.id/berita/rygoxl349/didukung-proyek-residensial-lippo-cikarang-bukukan-marketing-sales-rp-628-miliar