Jakarta, May 2, 2025 - Property developer PT Modernland Realty Tbk. (stock code: MDLN) recorded solid financial performance in Q1 2025. The Company posted a consolidated net profit of IDR 761.3 billion, reversing from a net loss of IDR 270.2 billion in the same period last year.
Corporate Investment & Strategy Director, Fetrizal Bobby Heryunda, stated that this improvement was driven by the completion of the Buyback and Exchange Offer program for global bonds issued by Modernland Overseas Pte. Ltd., which positively impacted the Company’s financial structure.
This step indirectly supported operational efficiency and drove operating profit to IDR 794.7 billion, a reversal from an operating loss of IDR 189.9 billion in the same period last year. On the revenue side, MDLN recorded sales of IDR 217.4 billion, up from IDR 182.2 billion in the same period last year.
“The completion of the buyback positively affected our financial position. In addition to strengthening the capital structure, it reduced interest expenses, thus expanding room for business growth,” said Fetrizal Bobby Heryunda in a written statement.
Meanwhile, Corporate Secretary General Manager Danu Pate reported that Marketing Sales for Q1-2025 reached IDR 484 billion, up 54% from the same period last year. In the residential segment, contributions were still dominated by Jakarta Garden City (JGC) township in Cakung, East Jakarta, with Marketing Sales of IDR 173.6 billion.
“JGC sales remain solid, reflecting the resilience of the upper-middle segment against economic pressures. Consumer interest in areas with complete facilities and high accessibility remains strong,” explained Danu Pate.
In addition to JGC, ModernCikande Industrial Estate in Serang, Banten, recorded significant land sales of IDR 234.5 billion, sharply higher than 2024 performance. However, recent tariff policy announcements have created market uncertainty, prompting investors to adopt a ‘wait and see’ approach, resulting in more cautious investment timing amid changing global trade policies.
The Hospitality segment reported relatively stable performance at IDR 40.2 billion, reflecting consistent demand in lifestyle, entertainment, and service sectors.
With fundamental performance improving, Modernland Realty signals optimism in maintaining growth trends throughout 2025. The main strategy focuses on accelerating sales of existing projects and developing new areas. “With a strong landbank and diverse project pipeline, we are confident in capturing market opportunities amid economic recovery trends,” concluded Danu Pate.
Notably, PT Modernland Realty Tbk. achieved a key milestone in strengthening its financial structure through the Buyback and Exchange Offer on global bonds, reducing foreign bond obligations by USD 104.3 million, equivalent to IDR 1.7 trillion. The program also maintained the same bond coupon rates, 3% cash and 3% payment-in-kind, supporting operational sustainability amid national and global property market dynamics.
For further information:
Corporate Secretary
PT Modernland Realty Tbk.
Email: corporate.secretary@modernland.co.id
Website: www.modernland.co.id