Bekasi Fajar Industrial Estate

Stock Quote Bekasi Fajar Industrial Estate - BEST:

Business Summary

Bekasi Fajar Industrial Estate's business activities involve three areas:

1. Industrial Estate Products; the company provides land lots that are ready for development for industrial needs, equipped with the industrial estate infrastructures and other facilities.

2. Infrastructure & Services; it is engaged in infrastructure development and provides complete supporting facilities. This area includes:
a. Estate Management Services; the company provides services to residents of industrial areas (such as garbage collection, security surveillance, environmental maintenance, and servicing & maintenance of public facilities & infrastructure.
b. Water Supply Services; the company provides water supply facilities for customers.
c. Waste Water Management Services; the company provides waste water treatment services for industrial estates.

3. Recreational Facilities & Supports; the company has various recreational facilities (golf courses, coffee shops, and a Japanese restaurant).

Bekasi Fajar Industrial Estate's Financial Highlights:

	2012	2013	2014	2015	2016
Net Sales	965.1	1,333.1	839.6	687.0	824.4
EBITDA		887.5	481.2	415.4
Gross Profit	569.8	888.4	579.9	485.6	613.3
Net Income	470.4	744.6	391.0	211.6	336.0
Income from Operations	527.0	889.8	472.0
Total Assets	2,285.8	3,360.3	3,654.0	4,631.3	5,205.4
Total Liabilities	515.6	883.5	803.5	1,589.2	1,814.5
Earnings per Share¹	56.38	77.80	40.58	21.94	34.83
Cash Dividend per Share¹	9.50	2.28	2.28	1.23

^{in billion IDR rupiah unless otherwise stated
¹ in IDR rupiah
Sources: Bekasi Fajar Industrial Estate Annual Report 2016}

Forecast Bekasi Fajar Industrial Estate's Future Corporate Earnings:

	2018	2019F	2020F	2021F	2022F
Net Sales	963.0	951.0	1,015.0	974.0	1,253.0
EBITDA	588.0	529.0	626.0	586.0	780.0
Net Income	423.0	380.0	477.0	401.0	541.0
Total Assets	6,290.0	6,399.0	6,828.0	7,482.0	8,509.0
PER (x)	2.6	2.9	2.3	2.7	2.0
PBV (x)	0.3	0.2	0.2	0.2	0.2
ROAA (%)	7.0	6.0	7.2	5.6	6.8

^{in billion IDR rupiah unless otherwise stated
Source: Danareksa Sekuritas (18.03.2020)}