Wednesday, October 24, 2018 09:20 WIB

Premier Insight : LPKR, reported earnings of Rp1.15tn in 6M18 (+135% yoy)

LPKR: Lippo Karawaci (LPKR IJ; Rp298; Not Rated) reported earnings of Rp1.15tn in 6M18 (+135% yoy), which is way above market expectation forming 139% of consensus estimate. However, Revenue was below market expectation only forming 44% of consensus FY18 estimate. The strong earnings was mainly due to profit from investment in associate of Rp2.36tn. Note: there are increase in non-controlling interest to 54% of 6M18’s (vs. 6M17: 19%). (Investor Daily).

(In Rp bn)	6M18	6M17	YoY	2Q18	1Q18	QoQ	Consensus	FY17/ consensus
Revenue	5,565	4,911	13.3%	3,098	2,467	26%	12,652	44%
Gross profit	2,623	2,252	16.5%				5,054	52%
Operating profit	808	731	10.6%				1,759	46%
Net profit	1,147	487	135.3%	1,146	1	163631%	825	139%
Gross Margin	47.1%	45.9%		0.0%	0.0%		40.0%
Operating margin	14.5%	14.9%		0.0%	0.0%		13.9%
Net Margin	20.6%	9.9%		37.0%	0.0%		6.5%