PT Pakuwon Jati, Tbk.
Kode Saham: PWON.IJ (Bloomberg), PWON.JK (Reuters)
Year 2024, Adjusted Net Income PWON Grow 14%

 

2024 Yearly Financial Performance

PT Pakuwon Jati (PWON) booked yearly net revenue for 2024 at Rp 6.67 trillion, an increase of 8% compared to last year of Rp 6.20 trillion. Gross Profit is recorded at Rp 3.77 trillion, an increase of 11% compared to last year of Rp 3.40 trillion. EBITDA of Rp 3.58 trillion is 7% better than last year of Rp 3.36 trillion while Adjusted Net Profit increases 14% from Rp 2.29 trillion last year to Rp 2.62 trillion this year. 

 

 

Total Company’s revenues increase mainly due to the recurring revenue that is 11% better from Rp 4.67 trillion last year to Rp 5.19 trillion this year which comprises revenue from retail mall of Rp 3.43 trillion, up 10% from Rp 3.12 trillion from last year, revenue from office leasing Rp 368 billion, a 21% increase from Rp 304 billion from last year, and revenue from hospitality of Rp 1.38 trillion, 12% better than last year of Rp 1.24 trillion. 

Breakdown of Revenue per segment reveals that retail leasing accounts for 51%, hotel and serviced apartment 20%, office leasing 6%, condominium 11%, landed house sales 11% and office sales 1%.

 

Marketing Sales 2024 

Company reported marketing sales in 2024 of Rp 1.55 trillion, a 16% increase from Rp 1.34 trillion from last year, mainly driven by sales of apartment units in Pakuwon Mall Surabaya, Pakuwon Residences Bekasi, Eastcoast Mansion Surabaya and Kota Kasablanka Jakarta with support from sales of landed-house in Grand Pakuwon township and Pakuwon City township both in Surabaya.

Notably, 59% of the total marketing sales derived from government’s PPNDTP incentive program that was in force since the last quarter of 2023. 

Sales composition in 2024 includes 46% from landed houses and 54% from sales of condominiums and office units. 

 

Capital Expenditure

Capital expenditure for 2024 amounts to Rp 1.80 trillion, mainly used to fund Pakuwon Mall Bekasi, Pakuwon City Mall Surabaya construction project as well as to buy land bank in Semarang and Pakuwon City Surabaya.

 

Pakuwon Jati Overview

Pakuwon Jati Tbk (PWON: IDX) is a real estate developer with over 43 years of experience in developing and operating properties in Indonesia. Established in 1982 and listed on the Jakarta Stock Exchange since 1989, Pakuwon Jati is a diversified real estate developer focused in Surabaya, Jakarta, Bekasi, Yogyakarta, Solo, Bali, Semarang and Batam. Its key portfolio includes retail, residential, commercial and hospitality developments. The Company is vertically integrated across the entire real estate value chain from land acquisition, property development, marketing to operational management. Pakuwon Jati is the pioneer of Superblock concept in Indonesia, a large-scale integrated development comprising retail shopping centers, offices, condominiums, and hotels, with proven track record and strong reputation in the property industry enabling the Company to establish long-term relationships with tenants and buyers, providing a solid foundation for rapid business expansion.

Below is the Company’s portfolio:

  • Gandaria City Superblock , Jakarta (retail shopping center, apartment, office building and hotel)
  • Kota Kasablanka Superblock, Jakarta (retail shopping center, apartment, and office building)
  • Somerset Berlian, Jakarta (serviced apartment)
  • Blok M Plaza, Jakarta (retail shopping center)
  • Tunjungan City Superblock, Surabaya (retail shopping center, apartment, office building and hotel)
  • Pakuwon Mall Superblock, Surabaya (retail shopping center, apartment, serviced apartment, and hotel) and Pakuwon Mall Mansion phase 5 (3 apartment towers) which is under construction
  • Royal Plaza, Surabaya (retail shopping center)
  • Pakuwon City township (landed residential) and Educity apartment in East Surabaya
  • Pakuwon City Mall Superblock (retail shopping center), Amor Tower and Bella Tower, and East Coast Mansion phase 3 (third tower and hotel that are under construction), in East Surabaya
  • Grand Pakuwon township (landed residential) and Food Junction (Hypermarket, culinary & leisure destination), in West Surabaya
  • Pakuwon Mall Bekasi Superblock, (retail shopping center), Amor Tower and Bella Tower, as well as 2 apartments and hotel that are under construction
  • Pakuwon Mall Jogja and Yogyakarta Marriott Hotel (retail shopping center and hotel)
  • Pakuwon Mall Solo Baru (retail shopping center)
  • Four Points by Sheraton Bali, Kuta (hotel)

 

For further information, please contact:
Minarto Basuki (Director and Corporate Secretary) 
PT Pakuwon Jati, Tbk.

Pakuwon City Mall 5th Floor 
Jl. Kejawan Putih Mutiara No. 17, Surabaya
Telp : (6231) 99218800
Email: corpsec@pakuwon.com
Website: www.pakuwonjati.com