Jakarta, March 28, 2025 – PT Lippo Karawaci Tbk. (LPKR), a leading real estate and healthcare services platform in Indonesia, reported a net profit of IDR 18.7tn for the year 2024, primarily driven by strong performance in its core business segments and the benefits of strategic deleveraging initiatives.

In the real estate segment, revenue grew 15% year-on-year (YoY) to IDR 5.06tn, supported by timely handovers of residential and commercial units, the sale of strategic land plots, and continued demand for cemetery plots at San Diego Hills. EBITDA remained stable at around IDR 1.1tn, reflecting efficient cost management and effective operational execution.

Additionally, presales amounted to IDR 6.01tn, exceeding the annual target by 12%. This achievement highlights strong market demand for affordable landed homes, with flagship projects such as Cendana Homes, XYZ Livin, and Waterfront Uptown leading the sales.

The launch of new residential projects, including the Zen Series, Cendana Suites, and Blackslate Series at Park Serpong, as well as XQ Livin at Lippo Cikarang Cosmopolis, further contributed to increased sales volume and pricing.

In November 2024, LPKR began the handover of the first phase of Park Serpong, underscoring the company’s strong commitment to customer satisfaction and on-time project delivery. This development was completed ahead of schedule, in under 18 months.

The healthcare segment, operated by PT Siloam International Hospitals Tbk (SILO), also showed sustained growth across various key operational metrics throughout 2024. Inpatient visits increased 8% YoY to 326,030, inpatient days grew 7% YoY to 1,007,479, and outpatient visits rose 7% YoY, surpassing 4 million visits.

In 2024, SILO operated 4,133 beds with an occupancy rate of 66.6%, a 2% increase compared to the previous year.

Following the partial divestment of its stake, LPKR now holds 29.09% of SILO's shares. Since June 2024, LPKR has de-consolidated SILO’s financial performance and now reports it as an investment in associates in its financial statements.

The lifestyle segment, consisting of the mall and hotel businesses, reported solid performance with revenue reaching IDR 1.4tn. Gross profit increased by 13% to IDR 967 billion, and EBITDA grew by 34% YoY to IDR 387 billion.

In terms of operational performance, the average hotel room rate in 2024 increased 7% YoY to IDR 624,000, with an average occupancy rate stabilizing at 69%. Additionally, mall foot traffic grew by 5% YoY, reaching 10.5 million visitors last year.

John Riady, Group CEO of Lippo Indonesia, stated, “We are proud to announce these encouraging results for 2024. Our focus on operational improvements, financial discipline, and value creation for customers has translated into strong performance across our property, healthcare, and lifestyle businesses. We remain committed to sustainable growth and creating long-term value for our stakeholders.”