Wednesday, October 24, 2018 09:18 WIB

Premier Insight : LPSK, booked earnings of Rp2.9tn in 6M18 (+981% yoy)

LPCK: Lippo Cikarang (LPCK IJ; Rp1,330; Not Rated) booked earnings of Rp2.9tn in 6M18 (+981% yoy), which came above expectation, forming 852% of consensus FY18 estimate. Revenue and operating profir jump by 37% and 76% yoy, respectively in 6M18. In addition there was margin expansion all across the board in 6M18 with gross and operating margin stands at 56% and 39%, respectively (6M17: 46% and 30%). Net margin hugely jump to 249% in 6M18 (6M17: 32%) mainly due to profit from associates and joint ventures of Rp2.36tn. (Investor Daily).

(In Rp bn)	6M18	6M17	YoY	2Q18	1Q18	QoQ	Consensus	FY17/ consensus
Revenue	1,154	842	37.1%	844	310	172%	1,565	74%
Gross profit	647	390	66.0%				664	97%
Operating profit	447	254	75.8%				366	122%
Net profit	2,871	266	980.8%	2,790	81	3353%	337	852%
Gross Margin	56.0%	46.3%		0.0%	0.0%		42.4%
Operating margin	38.8%	30.2%		0.0%	0.0%		23.4%
Net Margin	248.8%	31.5%		330.5%	26.1%		21.5%