PT Bumi Serpong Damai (BSDE) Q4 2024 earnings summary

Executive summary

• Consolidated revenues for 2024 reached Rp 13.80 trillion, up from Rp 11.54 trillion in 2023, driven by real estate sales and rental income.

• Net profit attributable to owners rose to Rp 4.36 trillion in 2024 from Rp 1.95 trillion in 2023, with basic EPS at Rp 208.43.

• Major acquisition: 91.99% of PT Suryamas Dutamakmur Tbk (SMDM) consolidated from October 2024, adding significant land reserves.

• The audit opinion is unqualified, with financials presented fairly in all material respects.

Financial highlights

• Revenue increased 19.6% year-over-year to Rp 13.80 trillion, with real estate sales contributing 83.97%.

• Gross profit rose to Rp 8.82 trillion, with gross margin at 63.9% in 2024.

• Operating profit reached Rp 4.47 trillion, up from Rp 2.91 trillion in 2023.

• Net profit for the year was Rp 4.92 trillion, with profit attributable to owners at Rp 4.36 trillion.

• Total assets grew to Rp 76.02 trillion, and equity increased to Rp 47.32 trillion.

Outlook and guidance

• The SMDM acquisition is expected to enhance long-term project development through increased land reserves.

• Management continues to focus on expanding real estate, property, and infrastructure segments.