JAKARTA – Property developer PT Agung Podomoro Land Tbk (APLN) reported net profit of IDR 112.8 billion in 2025, down 82% year on year.

The weak performance was reflected in revenue, which fell 36.1% to IDR 3.6 trillion—missing the company’s target of IDR 4 trillion.

Based on its latest financial statements, the decline was largely due to the absence of hotel sales in 2025, which had contributed as much as IDR 1.7 trillion in the previous year.

As mentioned by IDNFinancials.com, APLN had previously sold land and building assets of the Pullman Ciawi Vimala Hills Resort Spa & Convention in 2024 to boost its cash position.

Across most business lines, performance also weakened, including the key residential segment, which fell 17.2% to IDR 1.1 trillion in 2025.

Meanwhile, land sales surged nearly 9.8-fold to IDR 247.2 billion, but this was insufficient to offset declines in apartments, offices, shophouses and office homes.

Recurring income also softened, dropping around 11.1% to IDR 1.4 trillion in 2025.

Despite missing sales and revenue targets, APLN maintained a gross profit margin of 41.3%, exceeding its 40% target, although down from 43.8% in 2024.

For 2026, the company is again targeting a gross margin of 40%, while setting more moderate revenue and sales targets at IDR 3.7 trillion.

Marketing sales are also being lowered to IDR 1.5 trillion, from a 2025 target of IDR 1.7 trillion, which was not achieved as the company only recorded IDR 1.4 trillion.

Corporate secretary Justini Omas said APLN will continue to strengthen its project development strategy in line with market demand, particularly in residential and integrated developments.

“We see that demand for middle-income housing remains strong. Therefore, the company will continue to adapt to consumer needs and ensure that each APLN property project delivers increasing value,” she said in a statement received by IDNFinancials.com on Wednesday (18/3).

APLN currently owns and operates several hotels, including Pullman Grand Central Bandung and Hotel Indigo Bali Seminyak Beach.

The company also manages major shopping centres such as Senayan City, Kuningan City, Baywalk Mall, Emporium Pluit Mall, Central Park Mall, Central Park 2, Festival Citylink, DeliPark Mall Medan, and Plaza Balikpapan. (ZH)