Dispite Pandemic, Lipo Karawaci Revenue Reaches Rp16.53 trillion in 2021

JAKARTADAILY.ID --  Despite Covid-19, Publicly listed conglomerate PT Lippo Karawaci Tbk posted revenue of Rp16.53 trillion, an increase of 38 throughout 2021. The real estate and healthcare businesses company's EBIDA also increased 94 percent to Rp3.69 trillion.

Data from the company's financial statements quoted from the official website of Lippo Karawaci states that the increase in revenue came from real estate development which grew 36 percent to Rp4.41 trillion from Rp3.25 trillion in the previous year.

Revenues were supported by recently completed landed residential projects, Waterfront Estates in Cikarang and Cendana Homes in Lippo Village, as well as apartment unit handovers at Holland Village Jakarta, Embarcadero in Bintaro, Hillcrest and Fairview Towers in Lippo Village, and Orange County in Cikarang, representing 66% of property revenues.

Furthermore, the property business continues to show signs of resilience as marketing sales continue to surpass corporate targets. Marketing sales for the full year of 2021 reached Rp4.96 trillion, representing an increase of 86% YoY and 18% above the upwardly revised target of Rp4.20 trillion.

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Management expects sales momentum to remain strong in 2022 with marketing sales expected to reach Rp5.20 trillion, or increasing by 5% YoY from an already strong FY21 figures.

“In 2021 our property business continued to strengthen as  marketing sales increased 86% year on year to Rp4.96 trillion. Our hospital business reported its most profitable results and as the year ended we have seen improvements in our malls, hotels and ancillary businesses. Currently, we are well positioned to build upon our 2021 results as we move into 2022,” Said John Riady, the CEO of Lippo Karawaci, quoted from official website of Lippo Karawaci, Friday, 8 April 2022.

Mr. Riady continued, “Indonesia is rapidly reopening and returning to normal, a welcome sign that we believe will result in further improvements in our business lines,” He said.