PT Bumi Serpong Damai (BSDE) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended September 30, 2024 reached Rp 10.07 trillion, up from Rp 7.31 trillion year-over-year.

• Net profit for the period attributable to owners was Rp 2.70 trillion, a 53% increase year-over-year.

• Total assets grew to Rp 68.47 trillion as of September 30, 2024, compared to Rp 66.83 trillion at year-end 2023.

• The company maintained a strong capital structure, with equity at Rp 43.83 trillion.

Financial highlights

• Gross profit rose to Rp 6.59 trillion, up from Rp 4.66 trillion year-over-year.

• Operating profit increased to Rp 3.58 trillion from Rp 2.27 trillion year-over-year.

• Basic earnings per share (EPS) was Rp 129.20, up from Rp 84.59 year-over-year.

• Cash and cash equivalents at period end were Rp 8.07 trillion, down from Rp 9.43 trillion at year-end 2023.

• Total liabilities stood at Rp 24.63 trillion, up from Rp 25.63 trillion at year-end 2023.

Outlook and guidance

• Management expects continued growth in real estate and property segments, supported by ongoing project completions through 2025–2026.

• No significant obstacles are anticipated in project completions, and the company is positioned to benefit from Indonesia's urbanization trends.