Agung Podomoro Land

Stock Quote Agung Podomoro Land - APLN:

Business Summary

Agung Podomoro Land is a leading integrated diversified real estate owner, developer and manager in Indonesia's retail, commercial, and residential real estate segments. It has an integrated property development model, from land acquisition and/or sourcing, to design and development, to project management, sales, commercial leasing and marketing, to the operation and management of superblock developments, shopping malls, offices, hotels, and residential apartments and houses. Some landmark projects include Senayan City, Podomoro City, and Kuningan City.

Since 1973, Agung Podomoro Land and its subsidiaries have completed or began construction of more than 70 property projects (including malls, apartments, hotels). Although the majority of projects are addressed to the middle class segments of Indonesia's society, its projects range from low-cost apartments to luxurious apartments in South Jakarta, and from the neighborhood mall to the elite mall.

Agung Podomoro Land was established in 2004 under the name of PT Tiara Metropolitan Jaya. In 2010, a corporate restructuring program was realized, through which six developers and their holding companies were transferred to the control of Tiara Metropolitan Jaya. In August 2010, the company's name was changed to Agung Podomoro Land.

Although the majority of its revenue is generated through property sales (strata title), Agung Podomoro is eager to increase the importance of recurring revenues towards the company's total revenues. These recurring revenues originate from the company's malls and hotels business segments. Recurring revenues increased from 5.3 percent (of total revenue) in 2010 to 26 percent in 2014.

Further Reading: Indonesia's Property Sector

The company has also increased its focus on second-tier cities in Indonesia - such as Bogor, Karawang and Bandung (all on Java), Medan (Sumatra), Bali, Makassar (Sulawesi), Balikpapan (Kalimantan), and Batam - as growth rates are higher here than in the Greater Jakarta region.

Agung Podomoro Land's Financial Highlights:

	2010	2011	2012	2013	2014	2015	2016
Sales & Revenues	1,938.7	3,824.1	4,689.4	4,901.2	5,296.6	5.971.6	6,007.0
Gross Profit	611.5	1,407.9	2,084.5	2,354.9	2,654.8	3,090.9	3,024.4
Net Profit	241.1	581.0	811.7	851.4	851.5	810.2	653.1
Profit before Tax	382.5	888.2	1,097.5	1,177.2	938.4	1,138.9	960.9
Total Assets	7,756.0	10,838.8	15,195.6	19,679.9	23,685.7	24,559.2	25,712.0
Total Liabilities	3,540.2	5,807.5	8,846.7	12,467.2	15,256.1	15,486.5	15,741.2
Earnings per Share¹	19.4	28.3	39.6	41.5	41.6	41.5	32.6
Dividend per Share¹		6.0	6.0	6.0	0		2

^{in billion IDR rupiah unless otherwise stated
¹ in IDR rupiah
Source: Agung Podomoro Land, Annual Report 2016}

Agung Podomoro Land's Debt Securities Listing:

Debt Securities (Bond Type)	Principal Value (IDR)	Annual Interest	Maturity Date	Pefindo Rating
Bond I APLN Year 2011 - Serie A	325 billion	10%	25 August 2014	idA (Single A)
Bond I APLN Year 2011 - Serie B	875 billion	11%	25 August 2016	idA (Single A)
Bond II APLN Year 2012	1,200 billion	9.375%	15 august 2017	idA (Single A)
Continued Bond I APLN Phase I Year 2013	1,200 billion	9.25%	27 June 2018	idA (Single A)
Continued Bond I APLN Phase II Year 2014	750 billion	12.25%	6 June 2019	idA (Single A)
Continued Bond I APLN Phase III Year 2014	451 billion	12.5%	19 December 2019	idA (Single A)

^{Source: Agung Podomoro Land, Annual Report 2015}

Projection Agung Podomoro Land's Future Corporate Earnings:

	2015	2016	2017F	2018F	2019F
Net Revenue
Net Profit
EBITDA
P/E Ratio (x)
P/BV (x)

^{in billion IDR, unless otherwise stated
Source:}