Alam Sutera Realty: Riding on Indonesia's Booming Property Sector
Alam Sutera Realty (ASRI) is an Indonesian real estate company that develops and manages a large-scale township which includes residential and commercial properties as well as ancillary facilities and infrastructure. The company has large real estate projects in Serpong, Cibitung, Cianjur (all on Java), Tanjung Pinang (Riau) and Sanur (Bali). In the first half of 2013, the company's profits increased by 52 percent to IDR 800 billion (USD $80.0 million) as Indonesia's property sector has been booming.
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Alam Sutera Realty's Financial Highlights:
| 2010 | 2011 | 2012 | |
| Sales and Revenue |
790.9 | 1,381.0 | 2,446.4 |
| Gross Profit | 406.4 | 814.4 | 1,466.9 |
| EBITDA | 365.1 | 737.5 | 1,495.2 |
| Net Income | 290.5 | 601.7 | 1,192.7 |
| Operating Profit |
333.4 | 693.6 | 1,254.0 |
| Total Assets | 4,588.0 | 6,007.5 | 10,946.4 |
| Total Liabilities | 2,371.6 | 3,220.7 | 6,214.5 |
| Earnings per Share¹ | 16,26 | 33,68 | 61,19 |
| Cash Dividend per Share¹ | 4.03 | 6.13 | 14,60 |
| P/E Ratio (x) | – | 30.3 | 16.8 |
in billion IDR rupiah unless otherwise stated
¹ in IDR rupiah
Source: Alam Sutera Realty, Annual Report 2012
Future Projection Alam Sutera Realty's Financial Highlights:
| 2011 | 2012 | 2013F | 2014F | 2015F | |
| Sales and Revenue |
1,381.0 | 2,446.4 | 4,400.0 | 4,085.0 | 6,131.0 |
| Net Income | 601.7 | 1,192.7 | 1,817.0 | 2,211.0 | 3,125.0 |
| Operating Profit |
693.6 | 1,254.0 | 2,308.0 | 2,764.0 | 3,737.0 |
| Earnings per Share¹ | 33,68 | 61,19 | 92,00 | 113,0 | 159,0 |
| P/E Ratio (x) | 30.3 | 16.8 | 11.0 | 9.1 | 6.4 |
in billion IDR rupiah unless otherwise stated
¹ in IDR rupiah
Sources: Alam Sutera Realty, Annual Report 2012 & Investor Daily